archBoston Presidential Poll 2012

For whom will you be voting on Tuesday?

  • Total voters
    44
The last time you posted that chart it didn't show Obama being a big spender, so what's different this time? Should I just post the Forbes chart again?
 
^^^^

Its the FED Size of Fed's Balance Sheet: Then $0.89 trillion; Now $3.01trillion

Who do you think elected Obama?
 
I think it was probably the 65,899,557 people who voted for him who elected him. Not sure what it has to do with the budget though.
 
datadyne007 said:
It hasn't been as smooth as we'd like it to be, but it's going far better than if a Republican had won. I'm actually not Obama's biggest fan (I'm still not over Hillary losing the nom) because I think he's not liberal enough to make change happen. He makes great proposals that make Nancy Pelosi clap her heart out and grin from ear to ear, but doesn't quite follow through on them. This recovery could really be jumpstarted with a massive infrastructure overhaul, which he likes to talk about but really doesn't push any further than that. I understand that it's the obstructionist republican Congress that is holding progress up, but the President should be at least campaigning and trying to push this kind of legislature. This recovery would be going a whole HELL of a lot better if the obstructionists hadn't blocked EVERY JOBS BILL that has been proposed (which included infrastructure and other investments).

Also, regarding the ridiculous personal attack about me being so called "poor," I'm fortunate enough to be able to afford a small apartment, car, and such with my husband and we gladly pay our taxes (at much higher rates than millionaires, mind you) knowing that there are others out there that really need some help with government programs that we are helping to fund. When our finances become more stable as we get older, we will be living modestly and comfortably, but not in excess with 10% of our income going to the church (my husband is a minister) and the rest in charitable donations.
Click to expand...


This is what a "massive infrastructure overhaul" looks like:

http://online.wsj.com/article/SB123353276749137485.html

Op-Ed written by two fairly anti-invisible hand (LIBERAL) economists.
 
So are we just going to re-post things over and over now? That Ohanian & Lee article isn't any less controversial now than the last time it got posted here. And if you want to know what "Liberal Economists" (whatever the hell that means. Maybe Adam Smith?) thought about it, Krugman tore it apart. So did DeLong. And others.
 
^Latvia's GDP is still over 10% below its pre-recession levels. The US, which did a mild stimulus and was able to fend off the imposition of European austerity is above pre-recession GDP levels. Countries that responded with little spending reductions and greater spending levels- South Korea and Australia are notable examples- have grown quite well and avoided the lasting domestic consequences of the recession.

Also, even if Latvia had been a resounding success, which its not, it only has like 5 million people. Hardly equatable with the 330 million people in the US.
 
Rest assured, this is being staged for public consumption, nothing else.

As seen when Dimon last lied to elected individuals, the truth will not be known or exposed.
Those are of the same ilk as the 'Senators' that cowered before him flashing his 'Gold cuff links' last time.
They know well not to bite the hand that feeds them.

Jaw-Dropping Crimes of the Big Banks


Preface: Not all banks are criminal enterprises. The wrongdoing of a particular bank cannot be attributed to other banks without proof. But – as documented below – many of the biggest banks have engaged in unimaginably bad behavior.

You Won’t Believe What They’ve Done …
Here are just some of the improprieties by big banks:

Funding the Nazis

Laundering money for terrorists

Financing illegal arms deals, and funding the manufacture of cluster bombs (and see this and this) and other arms which are banned in most of the world

Launching a coup against the President of the United States

Handling money for rogue military operations

Laundering money for drug cartels. See this, this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis)

Engaging in mafia-style big-rigging fraud against local governments. See this, this and this

Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here, here, here, here, here, here, here and here

Manipulating gold prices … on a daily basis

Charging “storage fees” to store gold bullion … without even buying or storing any gold . And raiding allocated gold accounts

Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them (and see this)

Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car

Cheating homeowners by gaming laws meant to protect people from unfair foreclosure

Committing massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing

Manipulating the hundred trillion dollar derivatives market

Engaging in insider trading of the most important financial information

Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this

Engaging in unlawful “frontrunning” to manipulate markets. See this, this, this, this, this and this

Engaging in unlawful “Wash Trades” to manipulate asset prices. See this, this and this

Otherwise manipulating markets. And see this

Participating in various Ponzi schemes. See this, this and this

Charging veterans unlawful mortgage fees

Helping the richest to illegally hide assets

Cooking their books (and see this)

Bribing and bullying ratings agencies to inflate ratings on their risky investments

Violently cracking down on peaceful protesters
The executives of the big banks invariably pretend that the hanky-panky was only committed by a couple of low-level rogue employees. But studies show that most of the fraud is committed by management.

Indeed, one of the world’s top fraud experts – professor of law and economics, and former senior S&L regulator Bill Black – says that most financial fraud is “control fraud”, where the people who own the banks are the ones who implement systemic fraud. See this, this and this.

Even the bank with the reputation as being the “best managed bank” in the U.S., JP Morgan, has engaged in massive fraud. For example, the Senate’s Permanent Subcommittee on Investigations released a report today quoting an examiner at the Office of Comptroller of the Currency – JPMorgan’s regulator – saying he felt the bank had “lied to” and “deceived” the agency over the question of whether the bank had mismarked its books to hide the extent of losses. And Joshua Rosner – noted bond analyst, and Managing Director at independent research consultancy Graham Fisher & Co – notes that JP Morgan had many similar anti money laundering laws violations as HSBC, failed to segregate accounts a la MF Global, and paid almost 12% of its 2009-12 net income on regulatory and legal settlements.

But at least the big banks do good things for society, like loaning money to Main Street, right?

Actually:

The big banks no longer do very much traditional banking. Most of their business is from financial speculation. For example, less than 10% of Bank of America’s assets come from traditional banking deposits. Instead, they are mainly engaged in financial speculation and derivatives. (and see this)

The big banks have slashed lending since they were bailed out by taxpayers … while smaller banks have increased lending. See this, this and this

A huge portion of the banks’ profits comes from taxpayer bailouts. For example, 77% of JP Morgan’s net income comes from taxpayer subsidies

The big banks are looting, killing the economy … and waging war on the people of the world

And our democracy and republican form of government as well

We can almost understand why Thomas Jefferson warned:

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies ….
John Adams said:

Banks have done more injury to religion, morality, tranquillity, prosperity, and even wealth of the nation than they have done or ever will do good.
And Lord Acton argued:

The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.
No wonder a stunning list of prominent economists, financial experts and bankers say we need to break up the big banks.
Click to expand...



http://www.zerohedge.com/contributed/2013-03-15/jaw-dropping-crimes-big-banks
 
I can't even... Well that was a good laugh to start the morning.
 
choo said:
^Latvia's GDP is still over 10% below its pre-recession levels. The US, which did a mild stimulus and was able to fend off the imposition of European austerity is above pre-recession GDP levels.
Click to expand...


Really? GDP growth is the indicator that matters.
 
So you are dismissing the other facts? That's like saying that if you lost your job and took one that paid half, but then you get a 10% raise then you are in a better position than if you didn't lose your better paying job. You are growing faster, but still poorer than you were 2 years ago.
 
choo said:
So you are dismissing the other facts? That's like saying that if you lost your job and took one that paid half, but then you get a 10% raise then you are in a better position than if you didn't lose your better paying job. You are growing faster, but still poorer than you were 2 years ago.
Click to expand...

Respectfully, you're missing the importance behind GDP growth. Our country is growing and GDP growth (should) be commensurate with that growth. For the GDP to recover from, even say, a decade-long depression of stagnant or negative growth, you can expect a 2-3 year time-period of normal (1.5 - 2%) growth.


If you're not growing, you're dying.
 
Putin hits out at "dangerous" Cyprus bank deposit levy


MOSCOW (Reuters) - Russian President Vladimir Putin criticized on Monday a levy imposed by the European Union on bank deposits in Cyprus as unfair and setting a dangerous precedent.

"While assessing the proposed additional levy on bank accounts in Cyprus, Putin said that such a decision, should it be made, would be unfair, unprofessional and dangerous," Kremlin spokesman Dmitry Peskov told journalists.

Russian citizens account for the majority of the billions of euros held in Cypriot banks by foreign depositors, and Russian banks are heavily exposed to the island as a favored offshore centre for big business.

The levy, imposed as part of a 10 billion euro bailout, sparked panic among Cypriots over the weekend and hit Russian and other European financial markets on Monday.

As the Cyprus parliament prepares to vote on the measure on Monday, the government in Nicosia was working on a plan to soften the blow for smaller savers.

Russian Deputy Finance Minister Sergei Shatalov earlier said the tax would be acceptable if it was levied only on interest earned by savers.

There are almost 70 billion euros in deposits held in Cyprus. A little less than half that is held by non-residents, most believed to be Russian.

At the end of last year, Russian banks had around $12 billion on deposits with Cypriot banks and corporate deposits accounted for another $19 billion, according to Moody's credit-rating agency.

That figure is more than twice the size of the bailout, which had been repeatedly delayed amid concerns from other EU states that the close business and banking ties with Russia made Cyprus a conduit for money-laundering.

It ranks as the largest source of foreign direct investment into Russia - money that is largely Russian in origin.

NO DECISION ON RUSSIAN LOAN

Russia has made no decision yet on whether to extend the duration or ease the terms of a sovereign loan to Cyprus, a government source told Reuters earlier on Monday.

European Union officials have said they expect Russia to extend the 2.5 billion euro ($3.27 billion) loan by five years, until 2021, and refinance terms.

Cyprus' Finance Minister Michael Sarris had planned to travel to Moscow on Monday for meetings to try to pin down new loan terms. A second Russian government source said Sarris would now travel on Wednesday.

The levy on savers, meanwhile, should not alter domestic capital flows, the news agency Prime quoted Deputy Economy Minister Andrei Klepach as saying.

Officials have also said Russian investors are interested in buying a majority stake in Cyprus Popular Bank and increasing their holdings in Bank of Cyprus - the two biggest banks on the Mediterranean island.

The involvement of any Russian investors - private or state - in recapitalization of the island's struggling banks is still a matter for discussion, the first government source said.

"There has been no decision yet," the source said.

($1 = 0.7654 euros)

(Moscow Newsroom; Editing by John Stonestreet
Click to expand...

http://www.reuters.com/article/2013/03/18/us-russia-cyprus-loan-idUSBRE92H07M20130318

GOVT is bailing out a bank then letting the bank shave 10% of the customers money. This seems to be the direction the US is heading. Actually look at MF Global John Corizine kept all those customers money. What did the Obama admin do about that scenario?
 
Last edited:
Is your money safe?
The Rape Of Cyprus By The European Union & The IMF

Submitted by Tyler Durden on 03/17/2013 23:38 -0400
Submitted by Mark J. Grant, author of Out of the Box,

I have been watching articles pour forth about Cyprus all weekend. I am almost as aggravated with the majority of them as I am with what took place. People are dancing around the edges while the propaganda machines of Europe are churning out the usual bunk.

Let's get some things straight and look what has happened directly in the face. There was no tax on the bank accounts in Cyprus. There still is no tax; the Cyprus Parliament has not passed it and will not vote on it until tomorrow so whatever action takes place it is retroactive. Next, this was not enacted by Cyprus. The people from Nicosia did not go to the Summit and ask to have the bank accounts in their country minimized to help pay the bills. Far from it; the nations of Europe, Germany, France, the Netherlands and the rest, demanded that this take place, a "fait accompli," the President of Cyprus said and Europe annexes Cyprus. Let's be quite clear; the European Union has confiscated the private property of the citizens in Cyprus without debate, legislation or Parliamentary agreement.

A bank account is not a bond or a stock or any sort of investment. This seems to be lost on many people. A bank account is the private property of a citizen or a corporation and does not belong to the government or at least that was the supposition up until now in Europe.

Next there is deposit insurance in Europe. Every country has its own version but it is there. It guaranteed the bank accounts of citizens up to one hundred thousand Euros. So much for the meaning of any guarantee in Cyprus or any other country in Europe. Null and Void! If the European Union can dismantle deposit insurance in Cyprus they can damn well do it in whatever country they please and at any time.

Here’s the description of the Cypriot government deposit insurance plan:

"Participation in the DPS is compulsory for all banks authorized by the Central Bank of Cyprus, i.e. banks incorporated in the Republic of Cyprus, including their branches in other countries, and the Cyprus branches of foreign banks, incorporated outside the Republic of Cyprus or the Member-States of the European Union. The DPS does not cover deposits of branches of banks established in European Union Member States. These deposits are covered by the corresponding deposit protection scheme established in the country of incorporation.

The DPS is activated in the event a decision is reached that a member bank is unable to repay its deposits, or as a result of a Court’s order for the winding-up of a member bank. Where a bank is unable to pay its deposits, the relevant decision is adopted by the Central Bank of Cyprus or, where a member bank is incorporated in a country outside the Republic of Cyprus, by the competent supervisory authority of the country of incorporation.


The maximum level of compensation, per depositor, per bank, is €100.000."

Please note that until yesterday all depositors in Cypriot banks were insured up to the value of €100,000 with any one bank. Today that solemn governmental promise has been shown for what it is; a lie. Worse and actually far worse and quite scary in fact is that the European Union and the European Central Bank and the IMF has not just allowed violation of the deposit insurance but demanded it. One thing is certain here; if they can void deposit insurance in Cyprus then they can void it in any country in Europe. Further; if they can void deposit insurance then they can void bond covenants with the scratch of a pen on paper. Nothing now; Nothing is safe!

Pay attention please. The European Union and the European Central Bank and the IMF have just advocated the confiscation of private property for their own indulgence. Bank accounts are not bonds or stocks or some other form of investments. It is private property like your house or your car. Germany, France et al came in and said, "We want it and we are taking it and it is necessary for our government." These countries did not demand it, yet, from their own citizens though they might soon but they demanded it from the citizens of Cyprus in exchange for funds. This is not a European Union this is a European Fourth Reich!

"The moment the idea is admitted into society that property is not as sacred as the law of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence."

-John Adams
Click to expand...

This is important.
 
If you're going to quote from a blog or article could you please link to it? Otherwise we have no idea who the source is.
 
Cyprus is the money landering capitol and piggy bank for Russian organized crime. Putin is speaking on behalf of depositors who would otherwise be reluctant to identify themselves.

P.S. The Germans originally wanted 40%, not the 10% being confiscated.
 
You must log in or register to reply here.

Back
Top