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hardtone
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Say NO to the corporate bail-out!
The Housing bubble was created by the controlling government, when the bubble started in about 2002-2003; the mortgage back securities were rising in
value to reflect the demand of residential property.
Now two things caused this issue:
1. The first was the deregulation of credit made it easier for low income families w/ bad credit eligible to obtain shady mortgages (interest
only, adjustable rates) loans and allowed the lenders to rape the situation to boot. This caused that class of people to over extend themselves and
dig a deep hole w/ high interest credit cards/mortgage debt.
2. Now the second was Financial Accounting Standard 157 is a regulation imposed on businesses by the quasi-private Financial Accounting Standards
Board (FAS). This rule is also incorporated into the regulations of the IRS and is further enforced by the SEC and the FDIC. FAS-157 requires
businesses to mark down assets to the lowest price for which similar assets have been sold in the market. The jargon term for this regulation is
called "mark-to-market" Mark-to-market forces good securities to be valued at the same price as bad securities....
But once a security is sold for a low price, something startling happens. All other firms are forced to pretend that their mortgage backed securities
are also worth that low price, even if none of the mortgages backing their securities are in default! This leads to a chain of catastrophic
consequences...
This caused all those mortgage companies who didn't diversify enough to bite the bullet and collapse.
What those companies were doing was criminal by pushing shady mortgages on people they knew would default on their loans, and basically taking the
money and run. Now let me get this straight, when the profits were zooming, they were fine with this, now that things took a turn for the worse, they
want federal aid to stay in business to keep raping people?
"Privatize the profits and socialize the losses"
What these asshole want by scaring us into accepting this 700 Billion bail-out as being our only path forward. How about getting rid of ACT 157 for
starters and see what happens…
That's my take on this…
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Six66Mike
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Registered: 11-20-2003
Location: Queensland Australia
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I don't know about any of that shit but the public should not be responsible for private failures. From Propagandhi:
“Publicly subsidized! Privately profitable!” That’s the anthem of the upper-tier (the puppeteer untouchable). We focus a moment, nod in approval and
bury our head back in the bar-codes of these neo-colonials while our former nemesis (ah, the romance!): the nation-state, now plays fund-raiser for a
new brand of power-concentrate. Try again, but now we’re confused- what is “class-war”? Is this class war? Yes, this is class war.
The public should not be funding the private sector. I'm aware of tariffs and all sorts of other shit that prop up business, but handing over billions
to companies in the financial industry that failed to manage funds properly for years is just a deadset dumb idea. The industry isn't going to change
years of bad practice overnight, the money is a dead investment.
Own up to the recession, let the weak companies collapse, let new companies rise up from the ashes when it's over. That's what a free market economy
is all about and that's what the US promotes, live up to it and weather the storm.
A lot of people ask me what kind of music I like. I love "soul music". My "soul music" isn’t a style, genre or niche. It’s music that is genuine. It’s
a painful lyric, a dirty bassline, it’s a harrowing vocal, it’s feedback, it’s an anthem, it’s a love song, it’s anarchy. I’ve got my personal
favourites but in the end it doesn’t matter who or where it comes from... so long as it’s good and it's real.
- Paul Morris, music director at 97.7 HTZ-FM
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hardtone
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Preach on, I agree...
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clevohardcore
* Kick\'n ass on the wild side *
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All I know is REPUBLICANS want less government BUT they cry and beg for help when there big business goes down the tubes. FUCK ALL THEM BASTARDS.
Using our money for there failures. Were are they when we need them to help us out?
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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defstarsteve
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I can sum this up pretty quick
class war now...
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barc0debaby
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Time to buy some more guns.
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clevohardcore
* Kick\'n ass on the wild side *
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Ever heard of the sociologist EDWARD ROSS? I am writing a paper on his "eight radiant points of social control" journal right now. It still holds its
own even after 100 plus years. I can elaborate but it would take a while and I am sleepy.
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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DaveMoral
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| Quote: | Originally posted by defstarsteve
I can sum this up pretty quick
class war now... |
To Steve you listen! Seriously.
I believe it was Thomas Jefferson that said every 20 years there should be a revolution... it's been what? 230 odd years since the last one? I'd say
we're long overdue...
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Six66Mike
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Location: Queensland Australia
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Seriously I'd lose my shit if I was there, this fucking pisses me off every time I turn on the TV and have to hear about it. The fact everyone is
warning of a recession...open your fucking eyes and see you're already in one.
And that Pelosi cunt, wow. I don't remember the exact quote from the clip I saw on tonight's news, but something about Wall Street being warned and
consequences... what fucking warning do you send when you hand out billions to corrupt companies and business execs?
Oh but they will no longer reap disgustingly huge bonuses regardless of performance...well that's good to know. They should actually be sent to jail
for fucking robbing the country blind and ruining millions of fucking lives.
I don't even live there and this just drives me crazy.
A lot of people ask me what kind of music I like. I love "soul music". My "soul music" isn’t a style, genre or niche. It’s music that is genuine. It’s
a painful lyric, a dirty bassline, it’s a harrowing vocal, it’s feedback, it’s an anthem, it’s a love song, it’s anarchy. I’ve got my personal
favourites but in the end it doesn’t matter who or where it comes from... so long as it’s good and it's real.
- Paul Morris, music director at 97.7 HTZ-FM
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
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Pelosi is a huge liberal who is vocal about the bailouts being a bad idea simply because of the Bush administration wanting them. That is the only
reason. IN fact you can blame her for a lot of this when she voted for loans to be made easier to very low income individuals. That being said we all
know we are in a recession. It's the talking heads that refuse to state it yet simply for a scaring people.
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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defstarsteve
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dow down 600 points and falling
and they voted NO!!!!!!
take amercia out of the hands of huge coporations and give it back to mom and pop stores
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clevohardcore
* Kick\'n ass on the wild side *
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right on!
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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jonnynewbreed
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Mood: Quite nice actually.
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one of the major Icelandic banks has just gone under. This thing is affecting far more than just the US. I wonder what the trickle down in Canada
will be.
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
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Canada is Americas #1 favorite importer/exporter. Even much more than China or Mexico.
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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barc0debaby
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Some banks in Europe went under too recently.
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Siczine.com
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| Quote: | Originally posted by clevohardcore
Canada is Americas #1 favorite importer/exporter. Even much more than China or Mexico. |
We import far more from China than Canada.
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Six66Mike
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You'd be surprised, Canada is #1 trading partner. Year to date ending July total trade:
Canada $364.23bn
China $228.60bn
By far Canada is the US #1 trade partner. http://www.census.gov/foreign-trade/top/dst/2008/07/balance....
*EDIT* This is combined Import & Export trade. Based solely on Imports yes China is #1 by $10m over Canada based on 2007 data I can find, back in
2005 Canada was #1 import partner so it seems to go back & forth annually.
Waking up to the news that the deal failed to pass Congress was exciting to say the least. However it's obviously not over & they will go back & try
again & again.
A lot of people ask me what kind of music I like. I love "soul music". My "soul music" isn’t a style, genre or niche. It’s music that is genuine. It’s
a painful lyric, a dirty bassline, it’s a harrowing vocal, it’s feedback, it’s an anthem, it’s a love song, it’s anarchy. I’ve got my personal
favourites but in the end it doesn’t matter who or where it comes from... so long as it’s good and it's real.
- Paul Morris, music director at 97.7 HTZ-FM
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Siczine.com
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Registered: 9-6-2005
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| Quote: | Originally posted by Six66Mike
You'd be surprised, Canada is #1 trading partner. Year to date ending July total trade:
Canada $364.23bn
China $228.60bn
By far Canada is the US #1 trade partner. http://www.census.gov/foreign-trade/top/dst/2008/07/balance....
*EDIT* This is combined Import & Export trade. Based solely on Imports yes China is #1 by $10m over Canada based on 2007 data I can find, back in
2005 Canada was #1 import partner so it seems to go back & forth annually.
Waking up to the news that the deal failed to pass Congress was exciting to say the least. However it's obviously not over & they will go back & try
again & again. |
I know the US exports a ton to Canada but what do we take in from Canada? I am guessing a lot of timber and raw materials?
I guess it just seems like EVERYTHING is made in China.
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defstarsteve
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if I'm not mistaken we get 40% of our oil from canada...
Canada remained the largest exporter of total petroleum in July, exporting 2.383 million barrels per day to the United States, which is an increase
from last month (2.359 thousand barrels per day). The second largest exporter of total petroleum was Saudi Arabia with 1.673 million barrels per day.
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publicatio...
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Six66Mike
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Location: Queensland Australia
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Yeah mostly you get natural resources from Canada like oil, wood, natural gas, water etc. There's also the American-owned company factories in the US
that export to the US market.
TSX in Toronto looks like it took the largest hit for the day, Australian markets haven't been open very long, down over 100 points already. Hang
Seng & Nikkei will drop pretty large today no doubt.
A lot of people ask me what kind of music I like. I love "soul music". My "soul music" isn’t a style, genre or niche. It’s music that is genuine. It’s
a painful lyric, a dirty bassline, it’s a harrowing vocal, it’s feedback, it’s an anthem, it’s a love song, it’s anarchy. I’ve got my personal
favourites but in the end it doesn’t matter who or where it comes from... so long as it’s good and it's real.
- Paul Morris, music director at 97.7 HTZ-FM
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
Registered: 9-19-2004
Member Is Offline
Mood: Sick Of It All, Youth Of Today
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| Quote: | Originally posted by Siczine.com
| Quote: | Originally posted by clevohardcore
Canada is Americas #1 favorite importer/exporter. Even much more than China or Mexico. |
We import far more from China than Canada. |
^^^^^^^^^^^ WRONG. We bring in and spend more money with Canada than anyone else. Serously
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
Registered: 9-19-2004
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Mood: Sick Of It All, Youth Of Today
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Lumber, oil, coal, iron pellets. Canada is our buddy. Without them we would have major issues. Plus the beer is pretty good.
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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Six66Mike
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Posts: 3090
Registered: 11-20-2003
Location: Queensland Australia
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Haha according to FOX Canada is extensibly far left and vulgar 
http://cosmos.bcst.yahoo.com/up/player/popup/index.php?rn=22...
A lot of people ask me what kind of music I like. I love "soul music". My "soul music" isn’t a style, genre or niche. It’s music that is genuine. It’s
a painful lyric, a dirty bassline, it’s a harrowing vocal, it’s feedback, it’s an anthem, it’s a love song, it’s anarchy. I’ve got my personal
favourites but in the end it doesn’t matter who or where it comes from... so long as it’s good and it's real.
- Paul Morris, music director at 97.7 HTZ-FM
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upyerbum
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That was hilarious, I don't think she understood a word he said. Blame Canada! Taxpayer funded doesn't mean government controlled, fortunately. Fox
news is the biggest farce going. Corporately funded I might add.
Well, its this place where nobody works, and the pigs don\'t give you any shit. Everyone smokes weed and gets drunk all day. Its a place where
cunts like me and you can truly take it easy and relax. Know what I mean?
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BDx13
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funny that FOX is outraged.
If I fail math, there goes my chance at a good job and a happy life full of hard work.
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