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Hit Me Congress, One More Time: Bailing Out the Auto Industry
by Walter Brasch
Congress should bend over, dig into the public coffers once again, and give the auto industry everything it wants—even though 61 percent of Americans oppose a bailout, according to a CNN/Opinion Research poll.
A couple of weeks ago, CEOs from GM, Ford, and Chrysler, known collectively as the Big 3, revved up their corporate jets’ engines, dropped in on the Senate, and testified that without a $25 billion bailout western civilization would collapse.
With the nation in a Recession, auto sales have declined to the lowest point since January 1982. Sales are off 47 percent for Ford, 41 percent for GM, and 31 percent for Chrysler from last year. Even sales of major overseas auto manufacturers selling to the American market are down, but not as much as for the Big 3. But, Big 3 market share has plummeted from 70 percent in 1998 to only 53 percent this year, according to Autodata Corp. Equally as important, Consumer Reports has consistently given cars produced by foreign-owned manufacturers higher ratings than American-made cars, although the problem is more attributable to management decisions than problems on the manufacturing line. But, even if Big 3 Management was flawless in their business plans, sales would still be significantly down because of the Recession, partially caused by the sub-prime loan fiasco and the reality that credit is now tight for most Americans.
The Power Elite Playbook, Fascism and False Flags = War, Part 17
Deanna Spingola
Nagata Tetsuzan, in company with Obata Toshiro and Okamura Yasuji (all three trained in military intelligence) and Prince Hirohito, had met secretly at the German spa Baden-Baden on October 27, 1921 to plan a total war against the West. With the exception of Hirohito, all were then serving at Japanese embassies in Europe. They developed strategies to purge the army of the Samurai (knightly) leadership of the Choshu clan, to reorganize and modernize the army, and a plan to dominate Manchuria. Another young officer-attendee was Tojo Hideki, the future prime minister who would launch the Pacific war, the imperial scheme.
We are slowly dying
Sameh A. Habeeb
Israel has further tightened the screw on Gaza, where some areas have been completely plunged into darkness as fuel shortages shut down Gaza\'s sole power plant 25 days ago.
The power cuts affect all activities dependent on electrical power as the remaining power sources provided by Israel and Egypt cannot serve the needs of the whole of the Gaza Strip. Access to drinking and irrigation water is affected, as well as sewage treatment, risking disease. Already, this means that millions of liters of sewage water pollute the Mediterranean Sea on a daily basis.
A Historic Moment: The Election of the Greatest Con-Man in Recent History
James Petras
“I have a vision of Americans in their 80’s being wheeled to their offices and factories having lost their legs in imperial wars and their pensions to Wall Street speculators and with bitter memories of voting for a President who promised change, prosperity and peace and then appointed financial swindlers and war mongers.” An itinerant Minister 2008
Introduction
The entire political spectrum ranging from the ‘libertarian’ left, through the progressive editors of the Nation to the entire far right neo-con/Zionist war party and free market Berkeley/Chicago/Harvard academics, with a single voice, hailed the election of Barack Obama as a ‘historic moment’, a ‘turning point in American history and other such histrionics. For reasons completely foreign to the emotional ejaculations of his boosters, it is a historic moment: witness the abysmal gap between his ‘populist’ campaign demagoguery and his long-standing and deepening carnal relations with the most retrograde political figures, power brokers and billionaire real estate and financial backers.
'I Have a Scam': the Real Cause of Impending, Utter Financial Collapse
Len Hart
Ft. Knox
That there is gold in Ft. Knox may be a popular myth. Then again it could be just another bald-faced lie, a hoax, a callous, criminal fraud like 'supply side, trickle-down' bailout economics! I say: NO bailout for the banks, NO bailout for the fat cats who created this mess, NO bailout that lets the GOP off the hook! Screw the banks and to hell with Wall St!
What we need is a bailout for the people!
GREENING UP the Holidays With a Little Help From the Kids
Meryl Ann Butler
Mr. Danny and kids making paper
SoapsCan purchasing children’s handmade paper cards or soaps for holiday gifts, change your world? You betcha.
In an economy fraught with fears, that is an investment that can’t lose.
The kids, staff and parents at the very green, Salem, Massachusetts, Greenhouse School—named for the original function of the building—have been quietly plugging away, turning recycled waste paper into beautiful handmade items: cards, bookmarks, invitations, gift tags, journals, ornaments, and decorative wrappers for the school’s aromatic handmade soaps.
Paulson shoots another arrow into the heart of the Economy
Andy Hughes
Paulson shoots another arrow into the heart of the Economy
The announcement in the last few days of a deal reached between the U.S. Treasury and the moribund insurance giant, A.I.G. provides a very lucid insight in to the nefarious and destructive world of the Troubled Asset Relief Program, otherwise known as T.A.R.P..Not only have A.I.G. received $152 billion to date and subsequently reported a third quarter loss of $25 billion, now they are to be cleared of their obligation on $53 billion worth of toxic credit default swaps. U.S. taxpayers are now on the hook for $205 billion courtesy of an institution which played in the Wall St. casino that passes for a "Financial Sector" and lost. Under the "Free market" system, so expounded upon by Government and Wall St. alike, A.I.G should be in chapter 11. Bailing out A.I.G and other failing institutions does absolutely nothing to address the fundamental issues at hand.
The Power Elite Playbook, Corporate Generals, Part 18
Deanna Spingola
Emperor Meiji
Coincidentally or not, at about the same time that the international bankers were promoting and funding Japan’s war-hawk behavior under Emperor Meiji (Hirohito’s grandfather) against Korea, China and Manchuria, banker-backed U.S. imperialists were looking for ways to seize productive land and control in Cuba (achieved by the Platt Amendment on March 2, 1901), banish the Spanish and expand into the resource-rich Philippines. William Howard Taft represented U.S. President Theodore Roosevelt in a highly confidential meeting in Tokyo with Japanese Prime Minister Katsura on July 27-29, 1905. They agreed that Japan would relinquish economic control of Hawaii and the Philippines to the U.S. while Japan targeted adjacent Asiatic countries. This insidious treaty sealed Korea’s death warrant. It was approved by Britain, or rather the British financiers behind the throne who were also funding Japan’s warfare.
Why Obama must commit to cluster munitions ban
Mary Shaw
On December 3, 100 countries signed the Cluster Munitions Convention, which prohibits the use of cluster bombs.
So what rogue nations were conspicuously absent? The primary makers or users of cluster bombs -- the U.S., Israel, Russia, China, India, and Pakistan. This is the company we keep.
The problem with cluster bombs is that they are imprecise, and are notorious for killing or maiming innocent civilians, including children.
Cluster bombs are indiscriminate weapons, meaning that they cannot distinguish between an enemy solder and a civilian child. They kill whoever crosses their path. Furthermore, the clusters release numerous "bomblets" and many of them do not explode on impact. So they lie around and become de facto anti-personnel mines. Even worse, they sometimes look like toys to a child. ―In fact, according to a study by Handicap International, 98 percent of cluster bomb victims are civilians and 27 percent are children.
Bush's Parting 'FUCK YOU' to America
Len Hart
The 'bailout' is another Bush/GOP scam, a big black hole into which some 1.5 trillion dollars has already has been sucked! The dollar will eventually collapse as did German Marks under the Weimar Republic. Only the big banks benefit but they, too, will collapse. There is no bailout for the 'buck'. The emerging picture is one of fat cats scrambling to cover bare asses while putting the screws to you. This sucks!
Already $billions$ have been squandered, wasted, or simply stolen. Where is the accounting? Where has the money gone? Where is the loans that were supposed to have been made to folks hoping to own a home? How has the bailout benefited Americans in any way whatsoever? I'm open to any credible GOP explanation! I won't get one! Rather, I had expected Bush to tell Paulson: "You're doing a heckuva job!" The scary part is this: perhaps both Henry Paulson and Brownie have done precisely what Bush had intended. Like New Orleans earlier, the US economy is in ruins. Like New Orleans, there is no restoration in sight. There is, however, evidence that it was all planned.
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