Required Reading: The Great American Bubble Machine (Rolling Stone)

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Dirt Kahuna	Required Reading: The Great American Bubble Machine (Rolling Stone)	Lead	[-]
Posts: 5029 (07/04/09 05:51:31) King of the dirt surf guitar Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	Tags : None Read it here. You will be tested.
ColonelLee		#1	[-]
Posts: 27137 (07/04/09 09:22:24) Discovered Elvis Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	I like this one too. We're being had...but then we always have been to an extent... http://glassjore.com/knifefork/103630/
panick88		#2	[-]
Posts: 862 (07/04/09 10:06:30) Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	Taibbi and Palast are really the two hottest jounalists out there right now. The last 3 pieces Matt has done have all been really good.
Dirt Kahuna		#3	[-]
Posts: 5030 (07/04/09 15:44:55) King of the dirt surf guitar Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	Yes, unless you are part of the Wall Street elite or part of the U.S. government elite, you are being screwed.
ColonelLee		#4	[-]
Posts: 27143 (07/04/09 17:16:06) Discovered Elvis Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	The main thing I take from this....is that Goldman Sachs can't lose. Because...if they screw up...the government covers their losses. The current economic mess is just a chance for them to consolidate their power even further.
ColonelLee		#5	[-]
Posts: 27144 (07/04/09 17:24:25) Discovered Elvis Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	Here's the new screw job we're getting ready to bend over for...... Fast-forward to today. It's early June in Washington, D.C. Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs - its employees paid some $981,000 to his campaign - sits in the White House. Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs. Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm's co-head of finance.) And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits - a booming trillion- dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade. The new carbon-credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won't even have to rig the game. It will be rigged in advance.
ColonelLee		#6	[-]
Posts: 27150 (07/05/09 10:03:46) Discovered Elvis Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	Interesting how those here supporting Obama's cap and trade cough David Drexler cough Bill House cough etc. cough aren't weighing in on the fact that it is all just a big scheme to enrich Goldman Sachs at the expense of the rest of us. velly interesting....
That Guy David		#7	[-]
Posts: 1611 (07/05/09 10:10:04) we're using code names now Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	> the fact that it is all just a big scheme It is not all just a big scheme. Climate change is a real problem.
Dirt Kahuna		#8	[-]
Posts: 5035 (07/05/09 11:45:53) King of the dirt surf guitar Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	It is not all just a big scheme. Climate change is a real problem. Amen! And Goldman Sachs are going to profit from it, any way they can. Good right-wingers everywhere understand the concept.
ColonelLee		#9	[-]
Posts: 27152 (07/05/09 23:37:13) Discovered Elvis Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	That Guy David wrote: > the fact that it is all just a big scheme It is not all just a big scheme. Climate change is a real problem. Well there ya go. Brainwashed to the end. Just load a Goldman Sachs rip off scheme out there and slap on the phrase "it's for the environment" and the Obama followers shout "yes, we can".
ColonelLee		#10	[-]
Posts: 27153 (07/05/09 23:41:58) Discovered Elvis Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	Dirt Kahuna wrote: It is not all just a big scheme. Climate change is a real problem. Amen! And Goldman Sachs are going to profit from it, any way they can. Good right-wingers everywhere understand the concept. Right wingers ain't into Goldman Sachs rip off schemes, DK. cough Ron Paul * Pat Buchanon* As the article you suggested we read describes...Goldman Sachs bought and paid for the left wing.
Dirt Kahuna		#11	[-]
Posts: 5036 (07/06/09 02:51:28) King of the dirt surf guitar Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	You misunderstood me, Kenny. Right wingers understand the concept of ripping off the public for profit. I agree that G/S bought their way into the Obama camp, but they did it just because they wanted to back the right horse, not out of some sense that they actually believe in the Democratic party.
ColonelLee		#12	[-]
Posts: 27155 (07/06/09 10:04:03) Discovered Elvis Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	Dirt Kahuna wrote: You misunderstood me, Kenny. Right wingers understand the concept of ripping off the public for profit. I agree that G/S bought their way into the Obama camp, but they did it just because they wanted to back the right horse, not out of some sense that they actually believe in the Democratic party. Your very attempt at describing what is going on shows two things. One you don't understand the article you linked to...and two...you don't understand either the right or left wing. For one thing...the ripping off the public for profit thing is neither right or left...it's just a rip off. (enabled by a buncha payoffs) Obama and the Dems were paid off. Now they are enabling another Goldman Sachs rip off. Taibbi points out that other Republicans and other Democrats were paid off to enable the rip offs the past, if that makes you feel better about it. Now, I know you want to hang on to the thread of hope that the cap and trade legislation is about cleaning up the environment....but it ain't. That's just the bullshit excuse. Previous bullshit excuses were..."poor people who can't afford it need houses" "banks need to be deregulated to compete with..."...and so on. Last Edited By: ColonelLee 07/06/09 10:07:45. Edited 2 times.
That Guy David		#13	[-]
Posts: 1612 (07/06/09 11:15:35) we're using code names now Reply Quote More My Recent Posts Message Me Connection Blocking Invite Report Post	> Taibbi points out that other Republicans and other Democrats were paid off to enable the rip offs the past, if that makes you feel better about it. This actually supports DK's point: G/S, like many business interests, is always going to want to support whoever's going to be in power. They tend to support Ds, but also give substantial amounts to Rs to hedge their bets. > Just load a Goldman Sachs rip off scheme out there and slap on the phrase "it's for the environment" Kenny, you are insane. Climate change is a real problem that needs to be addressed. This was not invented by G/S or Dems. Cap and trade has been used to deal with emissions problems since before you ever heard of Barack Obama. That is not something he cooked up as a favor to G/S. When you need to limit emissions, the two main choices are: 1) a straight tax on emissions, or 2) cap and trade. Cap and trade has a number of advantages, including the fact that it allows markets to reward innovation. Now, when you create a new market, anyone well positioned to profit from market trading is likely to profit--including GS. But that's not a reason to ignore the problem. > I know you want to hang on to the thread of hope that the cap and trade legislation is about cleaning up the environment....but it ain't. It absolutely is about the environment. The main thing it does is to put a cap on greenhouse gas emissions.

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Required Reading: The Great American Bubble Machine (Rolling Stone)

Required Reading: The Great American Bubble Machine (Rolling Stone)

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