Wow! This explains how our financial crisis happened to a T!

[SUBMAN1]

Greed being the motivator. It lays out the steps that got us here.

http://uk.youtube.com/watch?v=H5tZc8oH--o

-S

[Digital_Trucker]

Nice find:up:Tough job cramming all that into 10 minutes.

[UnderseaLcpl]

Cute:D

I have to do some more research yet, but it would appear that the federal government is even more at fault than I previously supposed. I guess I missed the forest for the trees.

My only point of contention is the linking of this type of legislation to the Dems. I'll bet that with a bit of inquest into voting records, I can find Republicans who supported this crap as well.

Still, a nice vid SUB:up:

[SUBMAN1]

Cute:D

I have to do some more research yet, but it would appear that the federal government is even more at fault than I previously supposed. I guess I missed the forest for the trees.

My only point of contention is the linking of this type of legislation to the Dems. I'll bet that with a bit of inquest into voting records, I can find Republicans who supported this crap as well.

Still, a nice vid SUB:up:Thanks man.

By the way, I don't doubt you will find some repubs supporting those bills from the demo's. All this stuff crosses the aisle at least a little to be able to pass.

We need to start voting this jerks out of office. I'm to the point where I'm going to start volunteering my time to the opponent of whomever votes on the 700 billion bailout package too. It is going that far.

-S

[SteamWake]

Again the law of un-intended consiquences.

Some legislation to avail houses to those whom cant really afford them... brilliant.

A desperate stab at socalisim come back to haunt us all.

[geetrue]

Last month I found a lady that saw a vision of this latest wall street problem.

I read it and scoffed at it being just another way to upset everyone, thinking that how could she know anything in advance and if she did where did that infomation come from?

Are we all just puppets on a stage?

2008/08/03/vision the american economy regarding the dow jones-index (http://endtimespropheticwords.wordpress.com/2008/08/03/a-vision-re-the-american-economy-the-dow-jones-index/)

A Vision re the American Economy & The Dow Jones Index (http://endtimespropheticwords.wordpress.com/2008/08/03/a-vision-re-the-american-economy-the-dow-jones-index/)
I have previously prophesied (since around about one year ago on this blog) specifically on the American economy, that recession and a type of finanical collapse is coming - and worse still that already has come in that year since I said that, I expect still to occur based on what I have seen last year and indeed the year before that, and also again now. (http://endtimespropheticwords.wordpress.com/2008/08/03/a-vision-re-the-american-economy-the-dow-jones-index/)


Today, upon awaking, I felt God whisper to me “The Dow”, and saw something significantly detrimental happen to it. Though I do not that much about economics at all, I know enough to know the Dow Jones is in some way a reflection of the financial health of the USA nation and is tied in with the stock market, though I do not understand the mechanisms at all. [See comments in the section below where this is explained}
Anyway, simply, I saw this Dow Jones go in a very negative manner, while retail prices (for what I thought was for every day consumer items like food, not just for gas etc) really went up considerably, at the same time as the Dow went down, so it was like two complete opposites I saw.
And I saw and it was like a large hand was upon the line of the Dow Jones graph, pushing the lines down considerably for what seemed a persistant time period (like not just one dip that would quickly correct itself).


(http://endtimespropheticwords.wordpress.com/2008/08/03/a-vision-re-the-american-economy-the-dow-jones-index/)

[SUBMAN1]

Hey Geetrue - if you search long and hard enough, you will always find someone who saw a vision. Once in a while, you will find one that comes true simply because of the odds. There were plenty of people in New York for examples saying the end of the world was coming in the 1980's, more that said the stock market is doomed, and more still that said WWIII is about to happen in the year 2000. We are all still here.

Pure coincidence is the point.

-S

[Sailor Steve]

Good video. Thanks!

I also agree with your last comment. It's like predicting the weather: the one lucky enough to be right (this time) always says "See? I was the only one who got it right!" They conveniently ignore the 9,999 times they were wrong.

[Hylander_1314]

The biggest problem is the government is getting too involved in what should be private business. Since when is the nation's economy up to the person in the oval office?! The economy isn't free to have ups and downs naturally, it is controlled by the Federal Reserve. But now we have politicians sticking their fingers into the pie, and it's a pie hardly any of them have a clue about, and it's a recipe for disaster. Man how I wish men like John Jay, Patrick Henry, Edmund Randolph,James Madison, and Samual Adams were here today. They would have the courage to set things straight again. Even though they weren't perfect.

[Molon Labe]

He redid it and slowed it down a little bit. A great find, I'm passing it everywhere.

http://www.youtube.com/watch?v=NU6fuFrdCJY (http://uk.youtube.com/watch?v=H5tZc8oH--o)

[XabbaRus]

What I don't get is that as soon as the government wants to intervene I see these claims of socialism creeping in, shock horror that can't be allowed.

[goldorak]

Greed being the motivator. It lays out the steps that got us here.

http://uk.youtube.com/watch?v=H5tZc8oH--o

-S


Sure, its so one sided that a 1970 soviet style pubblication would be less biased than that video. :roll: Way to go subman1.

[goldorak]

The biggest problem is the government is getting too involved in what should be private business. Since when is the nation's economy up to the person in the oval office?! The economy isn't free to have ups and downs naturally, it is controlled by the Federal Reserve. But now we have politicians sticking their fingers into the pie, and it's a pie hardly any of them have a clue about, and it's a recipe for disaster. Man how I wish men like John Jay, Patrick Henry, Edmund Randolph,James Madison, and Samual Adams were here today. They would have the courage to set things straight again. Even though they weren't perfect.

The Economy is not a private affair. With the failing of the most important economy in the world you have political ramifications. Not only worldwide but inside the US as well.
The economy must thrive inside a series of rules, without rules you only have caos, and in the end its society that ends up paying the bill.
Because the cost of not paying is just to terribile to contemplate.
Deregulation at all costs is bull****, and having rules doesn't mean haveing a socialist or communist state.

[Happy Times]

The biggest problem is the government is getting too involved in what should be private business. Since when is the nation's economy up to the person in the oval office?! The economy isn't free to have ups and downs naturally, it is controlled by the Federal Reserve. But now we have politicians sticking their fingers into the pie, and it's a pie hardly any of them have a clue about, and it's a recipe for disaster. Man how I wish men like John Jay, Patrick Henry, Edmund Randolph,James Madison, and Samual Adams were here today. They would have the courage to set things straight again. Even though they weren't perfect.

The Economy is not a private affair. With the failing of the most important economy in the world you have political ramifications. Not only worldwide but inside the US as well.
The economy must thrive inside a series of rules, without rules you only have caos, and in the end its society that ends up paying the bill.
Because the cost of not paying is just to terribile to contemplate.
Deregulation at all costs is bull****, and having rules doesn't mean haveing a socialist or communist state.

No pun intended but Italy is one place in EU that is really messed up in this regard you are commenting, Italy looks to rest of EU in constant state of chaos.

[goldorak]

No pun intended but Italy is one place in EU that is really messed up in this regard you are commenting, Italy looks to rest of EU in constant state of chaos.

When Subman1 comes around to opening a thread on the state of italian economy I will answer your critics there.
But here we talk about the breakdown of the most important economy in the world.
Said economy that is being saved by a free check of 700 BILLION DOLLARS on the back on the taxpayers. Where is the deregulation here ? I thought republicans hated intervening in "private" affairs. Let the market regulate itself and all that bull****.
What happened to that ideology ?
Are you realising that a completely deregulated free market is just as utopian as soviet communism was ? And this crisis which has been a long way in the coming is just the proof.

[Happy Times]

No pun intended but Italy is one place in EU that is really messed up in this regard you are commenting, Italy looks to rest of EU in constant state of chaos.

When Subman1 comes around to opening a thread on the state of italian economy I will answer your critics there.
But here we talk about the breakdown of the most important economy in the world.
Said economy that is being saved by a free check of 700 BILLION DOLLARS on the back on the taxpayers. Where is the deregulation here ? I thought republicans hated intervening in "private" affairs. Let the market regulate itself and all that bull****.
What happened to that ideology ?
Are you realising that a completely deregulated free market is just as utopian as soviet communism was ? And this crisis which has been a long way in the coming is just the proof.

I understand that there has to be real risks for banks, so they cant count on a assured bail out in the end. Thats the role regulaiton should play, watching the virtual economy. It has no business in tampering with the real economy as this video is about.
And Italy is a big chunk of EUs economy, also the "most" important economy in the world, and it makes me worried often.

[SteamWake]

The biggest problem is the government is getting too involved in what should be private business.

Exactly there the ones that screwed it up in the first place.

It started as a noble and decent idea but then the goverment got involved more and more "Housing for all!" was the cry. (Sounds familiar to me somehow).

At any rate now we look to the clowns that created the crisis in the first place to solve it???

As we speak they are at least trying to slip in earmarks, pet programs, assume pension funds from the unions, and on and on. All in all a dramatic shift towards shift of the economy to a socialist model. They call it a "Global Market". A global market... pffft... As they say you can put a suit of silk on a monkey but its still a monkey.

This is not what the founding fathers had in mind.

[goldorak]

The economy in the founding fathers day was a little bit different from what we have now. Don't you think its ridiculous to continuosly refer to the founding fathers intent as far as economic theory goes ?
Economic ideals are different from political ones.
The later can and do have relevance even after many centuries but economic ideals no. They change as society changes, unless you want to sustain that american economic model still reflects that of late eighteen early ninteen century america ? ;)

[SteamWake]

The economy in the founding fathers day was a little bit different from what we have now. Don't you think its ridiculous to continuosly refer to the founding fathers intent as far as economic theory goes ?
Economic ideals are different from political ones.
The later can and do have relevance even after many centuries but economic ideals no. They change as society changes, unless you want to sustain that american economic model still reflects that of late eighteen early ninteen century america ? ;)

Absolutly not.

Capitalisim is what made America a super power. The country was founded on capitalisim. Sure its more complex that it once was but the concepts were still the same.

Econmics were never intended to be an inseprable part of the goverment. In fact the intention was for the goverment to "Get the hell out of the way".

Eventually the goverment became so intertwined with the consumer economy over the years through feel good legislations such as Fannie Mae. I can think of many more ways the goverment has slowly but surely become an inseperable player in the economy.

But its too late now.

[UnderseaLcpl]

Both videos removed due to copywright infringement. WTF:down:

[Onkel Neal]

Let Bill Clinton educate you:

"I think that responsibility the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was President to put some standards and tighten up Fannie Mae and Freddie Mac."

- BILL CLINTON, ABC GOOD MORNING AMERICA INTERVIEW, LAST WEEK

[Stealth Hunter]

Both videos removed due to copywright infringement. WTF:down:

Let alone by "Warner Music Group"...:hmm:

I disagree with many of his points, but it still seems a little bizzare that they could remove it on the grounds of infringement...:-?

It's like the Discovery Institute having ExtantDodo removed from YouTube because of his videos that debunked their fruity proposition that Earth is 6,000 years old.

[August]

Both videos removed due to copywright infringement. WTF:down:
Let alone by "Warner Music Group"...:hmm:

Which probably owns the rights to one or more of the accompanying songs...

[Stealth Hunter]

Wait- it had music?:o

I guess one should check the mute button on the YouTube player.

[August]

Wait- it had music?:o

I guess one should check the mute button on the YouTube player.

:up:

[Hylander_1314]

The biggest problem is the government is getting too involved in what should be private business. Since when is the nation's economy up to the person in the oval office?! The economy isn't free to have ups and downs naturally, it is controlled by the Federal Reserve. But now we have politicians sticking their fingers into the pie, and it's a pie hardly any of them have a clue about, and it's a recipe for disaster. Man how I wish men like John Jay, Patrick Henry, Edmund Randolph,James Madison, and Samual Adams were here today. They would have the courage to set things straight again. Even though they weren't perfect.

The Economy is not a private affair. With the failing of the most important economy in the world you have political ramifications. Not only worldwide but inside the US as well.
The economy must thrive inside a series of rules, without rules you only have caos, and in the end its society that ends up paying the bill.
Because the cost of not paying is just to terribile to contemplate.
Deregulation at all costs is bull****, and having rules doesn't mean haveing a socialist or communist state.

Actually, in the United States of America, it is. Or at least it's supposed to be. This is where it all started some 90 years ago, at least in America, to go downhill.

"This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the
most gigantic trust on earth. When the President (Woodrow Wilson) signs
the Bill, the invisible government of the Monetary Power will be
legalised... The worst legislative crime of the ages is perpetrated
by this banking and currency Bill." Congressman Charles A. Lindberg Sr.

This is a good read too: http://www.yamaguchy.netfirms.com/7897401/lindbergh/lindb_index.html

And here is what Woodrow Wilson said after signing the Federal Reserve Act into law:

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence

[Frame57]

Nice to see Pelosi is using this situation to blame the Bush administation entirely. However, last I checked the democrats have been overs-seeing the finance committee for the last 2 years. Barney Frank claimed that those financial Institutions were solid. So either he lied or was not doing his job...

[Konovalov]

Barney Frank claimed that those financial Institutions were solid. So either he lied or was not doing his job...
As did President Bush and the White House make the same kind of claims. As did Henry Paulson, the Treasury Secretary, who was nominated by President George W Bush. As did Ben Bernanke, Chairman of the Federal Reserve. I know this because last night on CNN's the Situation Room they showed clip after clip of comments from President Bush, Paulson, and Bernanke saying that the financial institutions were sound and safe.

So they all either lied or weren't doing their job.

[Hylander_1314]

Both sides have had their hands in this goodie bag. Both are equally to be blamed. But instead of trying to work together to remedy the situation, they prefer to point fingers. But hey, it's an election year! Time to sling a bunch of **censored**!

What keeps getting lost or forgotten about is the government is the root for this financial debacle. The ground rules it required of the lending institutions back in the mid '90s have made this house of cards.

The thing that gets me, is the government creates these situations, then says the answer to the problem is more government control.....................:doh: :nope:

Even though this book was published 16 years ago, it's amazingly accurate on what is now going on from what started back in the 1960s. http://books.google.com/books?id=r0QLU3AWmIIC&dq=america+what+went+wrong&pg=PP1&ots=Mlh8wzqwOL&sig=BJA8TC21BXQFe2Ii0AU92H667qc&hl=en&sa=X&oi=book_result&resnum=4&ct=result#PPP1,M1