CNN reports that Lobbyists are trying to influence the Economic Stimulus package
By John Amato Wednesday Jan 16, 2008 5:20pmYou've seen by now that the market is tanking badly and there is a lot of talk about "stimulus packages" being worked on by The Democratic led Congress along with Helicopter Ben. On CNN, Susan Lisovicz, made this quite revealing statement:
Democrats are expected to propose rebates to individuals, they do not want permanent extension of tax cuts--- republicans not only want rebates but perhaps they're interested in lower tax rates for businesses and we are told that lobbyists are working overdrive in Washington trying to make sure that their cash cows are not effected by any economic stimulus plan but no matter what the FED chairman was saying today, the fact is the DOW industrial and the market in general have recorded the sixth sell off in the first twelve trading days...
Does this come as a shock to you? Their interests are never about the country---only about the cash cows and the incredible wealth that flows through their pockets and out of the working class of America.
UPDATE: (I'll be on with Rachel Maddow at 6:30 pm EST talking about the very important Indiana Voter ID case)
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St.McCain has the answer, 'Cut corperate taxes!'.......are there still some sheep out there that think 'trickle down' ever worked?
Do we really need CNN to tell us that lobbyists are lobbying in Washington? What exactly are they getting paid for - the reporters that is.
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For those who disliked the Carter Administration, re-read his "Malaise Speech". He sounded the alarm of the coming energy crisis and our need to adjust and instead the country sent him packing and elected Reagan.
http://www2.volstate.edu/geades/FinalDocs/1970s&beyond/malaise.htm
The stimulus is merely a loan which we'll be paying interest on like any other dollar in our national debt. How about start off with a $200 billion cut to our military industrial complex to pay for this new loan?
Well, as Gomer Pyle used to say "Surprise - surprise - surprise".
"All the perplexities, confusion and distress in America arise, not from defects of the Constitution or Confederation; not from any want of honor or virtue, as much as downright ignorance of the nature of coin, credit and circulation." John Adams wrote to Thomas Jefferson in 1797.
Today, two hundred years later, his statement still holds true. And because of this the United Stats has allowed and continues to allow the Federal Reserve, a paper corporation, to control the flow of money; making it tight and creating unemployment or printing more and creates inflation.
Article I, Section 8, Clause 5 of the United States Constitution states that the Congress shall have the power to coin money and regulate the value thereof and of any foreign coins. As you may know, this is not the case anymore. The United States government has no power to issue money, control the flow of money, or to even distribute it; that belongs to a private corporation registered in the State of Delaware, the Federal Reserve Bank, created by Congress in 1913.
Former presidents Jefferson and Jackson believed a central bank is not only unconstitutional but also causes inflation by printing money with no backing causing US citizens to issue T-bills to support the created money. Unfortunately it is our children that pay for the treasury bills we issue to prop up the markets. Any money the Fed releases to "curb market jitters over sub-prime woes" is a tax on unborn children who will be paying the interest on the debt we have accrued.
When the Fed injects more money into the system, then you have more money chasing the same number of goods which causes inflation. The reason inflation exists is from the uneven change in the volume of money, say, when it is printed and given to a defense contractor. For the moment the contractor's suppliers do not realize the money volume has changed, the recipient of the printed money experiences increased purchasing power. The workers end up receiving the wage in old money, but then are faced with prices in the new money after the vendors adjust to the new money supply. Inflation is the enemy of our prosperity as it causes the cost of living to go up faster than the pay increase for the large majority of people.
Generations ago it was free for citizens to turn their gold and silver into money, which increased the money supply as a wealth to the people. Now dollars are created out of thin air and loaned into circulation as debt against future production, not exchanged into circulation as production performed. Money has been switched from an evidence of wealth to an evidence of debt. The whole principle and function of money has been switched.
Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."
Back in 1963, then president John Kennedy wanted an end to the Federal Reserve System and with a simple stroke of the pen he ordered the U.S. government to restore its Constitutional mandate of controlling the money. President Kennedy was dead three weeks later. When President Lyndon Johnson took office, he immediately rescinded Kennedy's order and the Federal Reserve won another round.
Slavery is the price of ignorance.
The presidency will be won in the West....where...gee...economic populism is beginning a revolution of the people, by the people, for the people....
People still wonder why the "Wall Street approved" Clinton & Obama campaigns get so much air time....(psst...its not because its a woman & an african-american man...its their economic policies)....and Edwards with his message of populism gets shafted by the MSM, Con-servative Chamber of 'commerce', corporatocracy elements in this country.
"Stimulus" is code for "knife in your back."
Don't believe a word corporate media tells you, and don't believe a word that horse's ass in the White House promises.
The dollar is SHIT in the rest of the world. The only stimulus we need it get those neo-con thieves out of our government. Their deeds are done, and like cancer, it's going to take a lot of proverbial chemo to keep them from harming us even more.
What $1.2 Trillion Can Buy
From today's NY Times.
For starters, $1.2 trillion would pay for an unprecedented public health campaign — a doubling of cancer research funding, treatment for every American whose diabetes or heart disease is now going unmanaged and a global immunization campaign to save millions of children’s lives.
Combined, the cost of running those programs for a decade wouldn’t use up even half our money pot. So we could then turn to poverty and education, starting with universal preschool for every 3- and 4-year-old child across the country. The city of New Orleans could also receive a huge increase in reconstruction funds.
The final big chunk of the money could go to national security. The recommendations of the 9/11 Commission that have not been put in place — better baggage and cargo screening, stronger measures against nuclear proliferation — could be enacted. Financing for the war in Afghanistan could be increased to beat back the Taliban’s recent gains, and a peacekeeping force could put a stop to the genocide in Darfur.
All that would be one way to spend $1.2 trillion. Here would be another:
The war in Iraq.
I have a big gay crush on Rachel. If I were straight, young and attractive, I would be so hot for her.
Moose @ 9:
I mean last year's NY Times. (What year is it?) The argument is the same.
Jack Jett @ 10:
We all are attracted to her positive vibes. It is pure energy!
wisedup @ 1:
Need you ask?
In other news, the sky is apparently blue, and water is wet!
fire sale on the gubmint.
wealth flows uphill, shit flows downhill.
Moose @ 9:
from the same folks who hired KKKristol, eh?
You can't milk a dead cow.
Anyone remember around 2002 and 2003? When asked about the slow economy, Bush would always point to the record home sales as proof of his economic success. "More people own homes than ever before." End of story. That was the only metric worth looking at. I wonder if he still insists that.
SCOTUS - subverting democratic principles since 2000.
So, "David", after reading your synopsis of what The Federal Reserve REALLY is all about (a private corporation that can be found in the phone book under Federal Express), including the comment about JFK abolishing the Federal Reserve System then getting his brains blown into his wife's face, is it safe to assume you might be supporting Ron Paul for POTUS? Just curious.
To expand on what David said about The Federal Reserve, go to Google and watch "The Money Masters" part 1 and 2 and then you will have a very clear understanding about the entire history of "money". It's quite enlightening.
And just for the record, Ron Paul is the ONLY candidate who has a clear understanding of what is happening in the United States right now vis-a-vis the economic recession we are ALREADY IN. And he wants the Federal Reserve and the IRS to be relegated to the ash heap of history, where they belong.
Lollimom @ 8:
No. "Economic stimulous" is code for "look like you are doing something without actually doing something." MOSOS = More of the same old sh*t.
The lead story yesterday on NBC's nightly news was about foreign investors bailing out our banks, I believe, through stock transactions. With increasing foreign ownership of our corporations, and nearly complete ownership of our politicians by the corporations, it follows that our politicians are coming under increasing foreign control, more aligned with a new world order rather than the interests of the United States.
This occurs because Bush decided to turn the nation into the largest debtor nation in the world. The underlying problem is too much debt, government debt, personal debt and corporate debt. Pouring gasoline on the fire is the trade deficit, which our corporate owned politicians support while annual deficits approach $¾Trillion/year.
So, now we hear of a stimulus package, which may treat the symptoms long enough for Bush to get out of office. But, we're not going to pull ourselves out of this hole until fundamental change is made, such as curtailing military spending (that Ike warned about), curtailing the expensive war on drugs by adapting the laws of England, and balancing the budget.
To be truthful, I think we may be beyond the tipping point. We have gotten ourselves into such a deep hole, that the only way out is to print money, which will devalue the currency further and cause inflation. Since things like Social Security is invested in treasuries at a fixed interest rate, if those are actually repaid, they will not approach the original value of the money that Social Security "loaned" to the government.
We heard that earnings didn't matter during the Nasdaq bubble, and saw that $2 trillion bubble burst. Now we hear, particularly from that beacon of truth, Dick Cheney, that deficits don't matter, and what I think we're seeing is a debt bubble beginning to burst.
Of course, Jesus may return, and miracle away the national debt.
David @ 6:
Very well said.
What passes for logic in this country (MSM) sometimes baffles me.
For instance, the often heard but unchallenged claim that cutting taxes raises tax revenue.
In both cases they make this claim the Reagan and Bush administrations they cut taxes and borrowed (printed) trillions of dollars to push into the economy. Think about it, every time that money changes hands it produces tax revenue. How many times does it change hands in one year? That is where the new tax revenue came from! Ron Paul is right, this is built on a house of cards and the longer it goes on the worse the calamity when it collapses. You people better start thinking and stop repeating the MSM sound bites.
That 401k you think you will retire with will be worth less than when you put it in there. Watch it.
This is the weakness of a democracy. We have politicians who will say nearly anything to get elected (think Bush and company) pandering to the ignorant population (I don’t mean stupid, just ignorant of what’s really going on), making promisses they have no intention of keeping or will forget about once in office or worse reverse himself on nearly everything (think Bush and company). The MSM fails to do fact checking (unless it’s sensational, like someones sex life) or question the logic of some of these claims and give us information that that is useful to make a rational decision.
If we had the smartest man/woman in the world running the MSM would carry on and repeat over and over that they are boring, dress in earth colors and stiff (not fun at parties). Nothing about the rational of their proposals or plans. Teddy Roosevelt (one of our greatest) couldn’t get elected today because he’s over weight, funny looking (doesn’t look presidential) and worst of all while campaigning he shakes his fist in the air, stomps and shouts and screams (fire in the belly).
wisedup @ 1:
Again, what passes for logic in the MSM baffles me. The corporations are flush with cash, they are buying back their own stock for lack of anything else to do (even in a falling market). The rich will not change their spending habits if given another tax cut.
The problem is the middle class and lower middle class is strapped, up against a wall. In China they are building a middle class that can afford to buy the products they are now making and shipping out. We on the other hand are dismantalling our middle class. Where's the logic?
Tax the rich! Tax the rich! And then tax the rich!
Put them in a 94% tax bracket, retrocactive to the day Reagan took office. Make those bastards give back everything they stole from the rest of us, through their "trickle-down poverty" scam.
Oh, I almost forgot. Remove the cap on Social Security too!
That would all but kill those greed-head bastard Norquist types. Hehehehehehehe.......
And now begins the 'Hand the Democrats a massive mess'. Thank you 'Corperate (I've got mine,screw you) America.
It has been twenty seven years since that senile Ronnie Reagan told the lie about trickle down, it didn't work for him, Daddy Bush and it sure as hell hasn't worked for the dunce in the White House now. All the morons on the reichwing can do is blame their failures on FDR. Makes sense to knuckle dragging troglodytes, I guess.
wisedup @ 1:
you betcha- millions of 'em,too. Dumber than rocks and really angry about something but they're not quite sure what it is...Oh Ah Wish Ah Was In De Land Ob Cotton...
dropkick @ 24:
The Logic Is Here:
http://www.amazon.com/Free-Lunch-Wealthiest-Themselves-Government/dp/159...
Maybe Jesus will save us... Bahahahahahaha! BTW, ole Saint McCain really needs to STFU. Pitchforks and torches people, pitchforks and torches!
bilhelm-X @ 30:
Yes...time for good old Christian god fearing justice.
This is why we need to get business out of OUR government. This is why we need John Edwards. We need to shut down K Street.
Oh yay, I get a $300 "stimulus" check to revive the economy in 5 months.
Brilliant!
Huh, maybe if we stopped the f**king war we'd be able to afford some stuff.
Also if the lobbyists are only influencing then we've come a long way, at least they're not writing it. (I hope)
This is only the beginning of our demise.
The Collapse
The Collapse-Part II
The Collapse-Part III
The Collapse-Part IV
Pull out of Iraq and Afganistan. We ain't gonna do anything but spend money and get ourselves killed anyhow. Numbers 4 and 25 get my vote. Either us little people are going to get majorly fucked, or the rich are going to. It might as well be the rich for once...
"Their interests are never about the country—"
They don't believe in the country, and never did.
In a few cases (Reagan), they once believed in the country, but then their rightwing friends talked them out of it.
So then they wrap themselves in the flag, while hating every stitch.
And call themselves 'conservatives,' when this is a misspelling of 'corporate terrorists.'
wisedup @ 26:
It's the Sandwich Theory of American politics, and the R are real believers.
You take a slice of the bread, then put some Demo meat in, then a slice of the bread, then some more Demo meat, etc.
Whenever it seems to be about to fall over from sheer absurdity, you stick long toothpicks into the eyes of innocent people you shanghai off the streets in a foreign country, and that supposedly helps the sandwich forget it is LUNCH.
We need public financing of campaigns. We are in chains to these lobbyists and their corporate paymasters
Whatever BushCO does, it will only end up screwing the middle class and being a benefit to the have mores.
What are they pissed off that the lobbyists are beating them to the punch or something?
wisedup @ 1:
Yes there are. Did you hear the hearings with Bernanke yesterday? The Repubs kept trying to get him to say it was essential to make Bush's tax cuts permanent. When he stated it was important to get cash to the lower and middle class, they got quite sarcastic. Bernanke's stock went up, in my mind.
Actually, I'm quite furious that the Repubs jumped on the bad economy as a method of getting permanent tax cuts for their wealthy patrons. They need to be eradicated from the house and senate.
anyone watch fight club? maybe we need to infiltrate these guys. I will be the first volunteer. Someone set me up with a lobbyist job to make a few million a year. After about 5 years I will change the world!
I am jacks raging bile duct
Frank Zappa had a pretty good idea: Tax the FUCK out of the churches.
"Look! Over there! There's some smoke, it's coming from the Sub-Prime Mortgage and Home loan section of the Economy. Will someone please shine a light over there and call the fire department? If that fire grows, it will be the ruin of our business. "
So the Mortgage "Crisis" is the cause of all ill in the economy? Couldn't have anything to do with $100 a barrel of oil. Couldn't have anything to do with the inability to feel confident in your $35K job to actually buy a house.
The Oil industry is to blame and the lights need to be focused very brightly upon them. The mortgage problem is a casualty of a country that does not pay its people a fair wage.
Just thought of something....
How immature in your mind do you have to be if you're an adult and you call people these kid names?
Tweety?
Grow up...I know it's hard for some people to do...
The problem is that WAGES has not kepted up with INFLATION. If you want REAL SERIOUS economic stimulus raise the wages substantially and put a CAP on CEO earnings. Surrender the WAR against the Middle Class and begin treating workers fairly.
WE THE PEOPLE are not going to take it anymore. The COLLAPSE of the ECONOMY is caused by the LAWLESS government and the ABUSES of the CORPORATE MASTER. PEOPLE will FIGHT back where IT WILL hit the GREEDY rulers of ECONOMIC machine; .......their POCKETBOOK......their P&L and in the WALL STREET. People of the MAIN-STREETS will clearly deliver where it hurt the FACIST and neocons.
IMPEACH NOW and restore DEMOCRACY.
The underlying problem with the economy is an extreme maldistribution of income between the working class and the capital owners. When a CEO can make 300 million dollars while an average worker's wages haven't even kept pace with inflation what results is a dysfunctional market economy starved for consumption spending. The average American has had to fuel his/her spending with debt obtained by borrowing on the equity within their home - that phantom equity has now evaporated.
In order to correct this out of balance condition there needs to be laws in place (similar to the anti-Trust legislation) that caps the annual income of all capital owners and their surrogates (CEOs, CFOs, etc.) at a specific federal percentage above that of the highest paid worker within their respective firm. Also, we need to eliminate labor arbitrage by canceling all Temporary Worker Visa programs (L-1, H1-B, etc.), and establish tax penalties for firms that expand their workforce above some threshold through outsourcing, or replacement hiring in foreign locations.
Essentially, FDR was accurate when he characterized the Great Depression as an out-of-balance Economic malady. Rural income prior to the Great Depression was significantly lower than urban income, now (overvalued home equity) as then there was unlimited amounts of overvalued phantom equity flowing into the stock market, the income differential between labor and capital while nowhere near the current astronomical level was still much higher than sustainable. There in lies the root cause of the out-of-balance condition that precipitated the Great Depression. Any system including the market economy that gets to far out balance does not function properly. Certain constraints need to exist to keep the market economy from slipping into a dysfunctional state. Balance is the essence of stability nothing short of this will guarantee permanence.
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