Divining the News (DTN)

Not Mainstream News

Archive for September 20th, 2008

Coming Soon: Socialism with no Yuppies, and no Perks.

leave a comment »

European banks are susceptible to the US’ financial malaise. That sentence sounds reasonable, unsurprising and relatively innocent. And ALL the European banks are suffering.

But doesn’t it also mean that they have been instrumental in running the US economy. Much in the same way as if US banks were in a 3rd world country. There would be no surprise if it transpired that they had lobbying influence on the Government.

It was all okay while everyone was making money. But now it is coughing up time. It seems the US could be viewed partially (due to the European financial exposure) as a European colony. Not to suggest Europeans wanted the war on terror, they did not, although for all I know maybe the banks did. Somehow the Neocons we can presume had friends in high financial places.

I think Hegel said, “Capitalism will just cease to exist”. all from some internal dynamic. Now it is not hard to imagine that the system could cease.

Read the rest of this entry »

Written by morris

September 20, 2008 at 11:29 pm

Four angry wordpress bloggers on the Economy: A communist, A London perspective, A Taxpayers perspective, and an anti Mr. Executive take.

leave a comment »

Four angry wordpress bloggers on the Economy: A communist, A London perspective, A Taxpayers perspective, and an anti Mr. Executive take.

Voting Won’t End Nightmare of Capitalism. Fight for Communism!

On Wall St., major financial houses are crumbling under the weight of billions of dollars in bad debt. The credit-mortgage crisis continues to wreak havoc as the strong bankers eat the weak in this unholy ritual of capitalist competition. But don’t look for millionaires jumping out of windows on Wall St. Instead, billionaire financiers will be gliding into retirement on multi-million dollar golden parachutes. These captains do not go down with the ship.

Meanwhile, workers’ houses crumble in Galveston, Texas from Hurricane Ike, and Houston, the fourth largest city in the US, is still without electricity more than a week after the storm. There will be no bailouts or “soft landings” for them. or the millions hit by hurricanes in Haiti, Cuba and the rest of the Caribbean.

Read the rest of this entry »

Written by morris

September 20, 2008 at 4:42 pm

US may be days from a COMPLETE CATASTROPHIC MELTDOWN of its financial system, says Senate BANKING COMMITTEE CHAIRMAN Chris Dodd

leave a comment »


This post has two articles, “Which say it all”.

Sat, 20 Sep 2008 09:24:42 GMT

The US may be days away from a complete catastrophic meltdown of its financial system, says Senate Banking Committee chairman Chris Dodd.

“I’ve been here 28 years. To listen to the language of last evening, we maybe days away from a complete meltdown of our financial system,” AFP quoted Dodd as saying while referring to the late Thursday meeting of the US Congressional leaders with the US Treasury Secretary Henry Paulson and the Federal Reserve Chairman Ben Bernanke.

Senator Dodd noted it was “one of the rare moments, certainly rare in my experience here, that Democrats and Republicans decided we needed to work together, quickly.”

“We’re talking hundreds of billions,” Paulson said ahead of talks with Congress on details of the massive rescue effort, unveiled initially late Thursday.

Click here for more of this article and analysis.

Written by morris

September 20, 2008 at 1:03 pm

%d bloggers like this: