How so, oh mighty economic guru, when I am the only one who predicted the magnitude of this recession, while you still deny its happening?
You don't even understand the basic concept of accumulation of profit by the use of credit and fictitious capital. On Oct 8, 11:32 am, Gaar <[EMAIL PROTECTED]> wrote: > Obviously Economics and Capitalism aren't your strong points... > > Your lack of understanding of their Basics is beyond astounding. > > On Oct 7, 5:30 pm, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > And his book profits accumulate as debt put onto the worker's back. If > > he makes 1 billion on a deal, 1 billion of value has to be produced, > > debt is a claim on future surplus value produced by the workers. > > > On Oct 8, 11:24 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > Buffet has made his Business finding such Deals... > > > > On Oct 7, 11:05 am, rigsy03 <[EMAIL PROTECTED]> wrote: > > > > > Howleluiah, Lone Wolf!!! He also believes in the company which is why > > > > individuals invest in a company. (Charlie Rose interview last week) > > > > > On Oct 7, 6:53 am, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > > > > Buffet is fighting for his own survival which is tied to the to the > > > > > preservation of the system. The CEO of GE was furious when the the > > > > > bailout wasn't passed because GE relies on short term money markets > > > > > to function. Buffet is not making an investment, he is providing > > > > > liquidity to keep them operating. > > > > > > On Oct 7, 9:56 pm, rigsy03 <[EMAIL PROTECTED]> wrote: > > > > > > > Warren Buffett just invested 3 billion in GE's common stock- Oct.2 > > > > > > =another option for sound companies. > > > > > > > On Oct 6, 1:54 pm, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > > > > > > Big Companies such as Microsoft and GE have said before the > > > > > > > bailout > > > > > > > was approved that they risk insolvency if a credit crunch sets in, > > > > > > > there will be no money to buy back shares. > > > > > > > > On Oct 7, 5:19 am, rigsy03 <[EMAIL PROTECTED]> wrote: > > > > > > > > > This could be a bonus for sound companies- they should start > > > > > > > > buying > > > > > > > > back their own stock. > > > > > > > > > On Oct 6, 1:06 pm, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > > > > > > > > The tumultuous events of today augur in the complete meltdown > > > > > > > > > of the > > > > > > > > > world economy, markets will continue to spiral out of control > > > > > > > > > as they > > > > > > > > > open across the world following another Wall St collapse. > > > > > > > > > > The 2008 US presidential election has already been rendered > > > > > > > > > meaningless before it has even been held, because any > > > > > > > > > prospect of > > > > > > > > > social programs is now to be shelved. Rather, an amount > > > > > > > > > equivalent to > > > > > > > > > $2,300 for every man, woman and child in the US is to be > > > > > > > > > transferred > > > > > > > > > to the wealthy. One of the first questions asked by the > > > > > > > > > moderator in > > > > > > > > > the first presidential debate was: which government programs > > > > > > > > > are you > > > > > > > > > advocating be cut back in view of the bailout plan? All were > > > > > > > > > agreed > > > > > > > > > there would have to be cuts—that was accepted, a given. > > > > > > > > > > The American ruling class cannot carry out its program > > > > > > > > > democratically, > > > > > > > > > and therefore we see, in the measures proposed by Treasury > > > > > > > > > Secretary > > > > > > > > > Paulson, the sinews of a dictatorship. > > > > > > > > > > The initial text sent to the Congress, supposedly the > > > > > > > > > legislative body > > > > > > > > > with oversight over expenditures, was barely three pages > > > > > > > > > long—less > > > > > > > > > paperwork, one commentator noted in the New York Times, than > > > > > > > > > was > > > > > > > > > required for a subprime mortgage! > > > > > > > > > > According to the initial text, among the powers available to > > > > > > > > > the > > > > > > > > > Treasury secretary, “without limitation,” will be “designating > > > > > > > > > financial institutions as financial agents of the government” > > > > > > > > > able to > > > > > > > > > perform “all such reasonable duties related to this Act.” > > > > > > > > > This means > > > > > > > > > that the same financial institutions that engaged in the > > > > > > > > > speculative > > > > > > > > > and, in some cases, outright criminal activities that led to > > > > > > > > > the > > > > > > > > > crisis, are to be called on to help the Treasury organise the > > > > > > > > > bailout. > > > > > > > > > As a recent article on the WSWS noted, the term “conflict of > > > > > > > > > interest” > > > > > > > > > does not even begin to cover what is taking place. > > > > > > > > > > Moreover, the plan provides for legal immunity for the > > > > > > > > > Treasury. > > > > > > > > > “Decisions by the secretary pursuant to the authority are non- > > > > > > > > > reviewable ... and may not be reviewed by any court of law or > > > > > > > > > any > > > > > > > > > administrative agency.” > > > > > > > > > > As an article in the New York Times of September 23 pointed > > > > > > > > > out, with > > > > > > > > > these words “the Treasury secretary—whoever that may be in a > > > > > > > > > few months > > > > > > > > > —would be vested with the most incredible powers ever > > > > > > > > > bestowed on one > > > > > > > > > person over the economic and financial life of the United > > > > > > > > > States. It > > > > > > > > > is the financial equivalent of the Patriot Act, after 9/11.” > > > > > > > > > The Times > > > > > > > > > described Paulson’s proposed legislation as “the most amazing > > > > > > > > > power > > > > > > > > > grab in the history of the American economy.” > > > > > > > > > > A long established axiom of economics and politics holds that > > > > > > > > > in a > > > > > > > > > crisis, real relations are laid bare, as the accidental and > > > > > > > > > the > > > > > > > > > inessential are stripped away. And this is the case in this > > > > > > > > > crisis. > > > > > > > > > Not government of the people, by the people and for the > > > > > > > > > people; not > > > > > > > > > the “free market” in which the decisions of millions of people > > > > > > > > > determine economic outcomes; but government of, by, and for > > > > > > > > > the > > > > > > > > > wealthy. Not democracy and a land of laws, but a dictatorship > > > > > > > > > of > > > > > > > > > finance capital. > > > > > > > > > > The wars of plunder launched by American imperialism in > > > > > > > > > Afghanistan > > > > > > > > > and Iraq, the aim of which is to control oil and other > > > > > > > > > resources in > > > > > > > > > the interests of US finance capital, are now being openly > > > > > > > > > fought on > > > > > > > > > the home front. They will be accompanied by a deepening of > > > > > > > > > the assault > > > > > > > > > on democratic rights, initiated in the so-called “war on > > > > > > > > > terror.” > > > > > > > > > > This is where the American working class and the working class > > > > > > > > > throughout the world will come forward and perform their > > > > > > > > > historical > > > > > > > > > destiny and clear away the old order auguring in a new and > > > > > > > > > wondrous > > > > > > > > > future for all mankind- Hide quoted text - > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. 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