I just finished the article about Goldman/Sachs and I'll tell you I think it's time we broke out the pitchforks and torches and stormed the place. I highly recommend reading the article, it is an eye opener
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I just finished the article about Goldman/Sachs and I'll tell you I think it's time we broke out the pitchforks and torches and stormed the place. I highly recommend reading the article, it is an eye opener
Do you know what happened to them last week, when their trading program got stolen........Now that is an eye opener, they make "BILLIONS" using an a computer program, that runs 24 hours per day, when any market world wide is open.Quote:
Originally Posted by SARKY
hopeak,
have you read the rolling stone article? you'll want to skin them alive.
I just did. And I do.Quote:
Originally Posted by SARKY
Beginning of rant:
I've been opposed to every government bailout that's come along or even been suggested. I expected that this type of stuff would happen and that this "class" of people - those who CAUSED the problem - would be the ones to benefit. Saying "I told you so" doesn't give me any satisfaction, either. I really wish that my predictions had been dead wrong. They weren't.
Is this post "political?" If so, guys, just delete it.
End of rant.
I think this is the article you are referencing:
http://www.rollingstone.com/politics..._machine/print
It's a good read. I'm not going to get my nickers twisted over it. Goldman is not the only player in the game but certainly one of the bigger ones. The Hunt brothers pulled the same strategy, successfully for while, with the silver market. There were a lot of loosers in that as well. It's part of the dynamics of a free market system. You, too, can play the same game with enough cash on hand.
And the Hunt Brothers were hauled before the the U S House committee on "On American Activities". And I "DO" get my panties in a bunch, because these people are destroying America, and all for GREED, and the belief that they are superior. These people are more evil than America worst enemy ever, they nearly destroyed America and my still, they are a evil cancer. And I ain't even started to "RANT".Quote:
Originally Posted by Rick
Just looked and I have a small chunk buried in a mutual in a 401K. Looks like my only legal investments are in 'shine & pot. I needed someplace to cash checks, opened a savings account in a local bank to keep from driving to mine and got a great return, $1.65 per 10K. It may change and my ggggrandson may inherit lots of $$ but I will never see it.
I understand the free market system and like the opportunity but there is a huge difference between startegy and corruption. I don't wan't to play a game I know is rigged that will eventually destroy America. It's like funding a terrorist organization as long as it gives me 20% return on my investment while nobody is looking. It is wrong!!!Quote:
Originally Posted by Rick
Pitch forks would be much to quick for these people.
Goldman-Sachs yesterday told the bail judge that with their stolen computer program, anyone could manipulate the world financial markets. (Just like we do). This story only seems to be on:http://clusterstock.alleyinsider.com/
My question is if these scum bags were responsible (in part or in whole) for the great depression of the 1930's, why is we never heard about it until now??? And the fact that they have Sachsons planted everywhere scares the crap out of me. What can't they manipulate?
:bat:Nothing, absolutely nothing. They control Governments, Wars, Yields, Risks. And they pawn the risk off on the retirement pensions, and insurance companies.......:bat:Quote:
Originally Posted by SARKY
So Rick, are you telling me that, if you had enough money you would screw people out of their homes and starve people in other countries and destroy the economy? All for the sake of profit (greed is more appropiate)? Because that is exactly what they did! And if anyone I know is willing to do that, I don't want them covering my "6"!Quote:
Originally Posted by Rick
Bottom Line:
These characters, and countless others like them in corporate America, played fast, loose, and easy with our economy and our nation's investments. They either engaged in or closed their eyes to fraudulent practices and were either criminals or knowingly benefited from criminal activity. All for tremendous personal financial gain at the expense of our nation.
That would be bad enough, but what does our government do?
The government bailed these guys out. They rewarded the bad guys. They covered their losses, and the bad guys got to keep the huge dollars they absconded with. They are still earning more in a month than most people will earn in a lifetime.
Our economy will still likely go down the crapper. Hopefully not - hopefully, I'm wrong. But all we've done is trade a sub-prime mortgage and debt crisis for a national mortgage that we call "national debt" - a debt that we cannot afford to pay if we expect to re-start the economy. Why? Because every type of tax at every level of government will increase significantly to pay this tremendous new debt, and most people will be lucky if they can afford anything more than basic food, shelter, and transportation, if they can even afford those expenses. And watch - new taxes, fees, and mandates are coming.
And now they want a second stimulus. Nothing like living on borrowed money and being a debtor nation, is there?
The government just forced us all to sign a mortgage on a house that we can't afford - and it's a house of cards. And now they want us to take out a second mortgage.
Ken, you are 100% correct.
The thing that really bothers me, though, is that we as a country are letting them do it. When did the people of this country roll over and decide to take whatever was thrown at them?
There was a time, when these people would have been run out of town, on a rail!:sneaky2:
(Oh, and for the record, I mean by legal means.....nothing crazy.)
Monday should be interesting.....(Newbie's, That is an old joke).
AWw man, hope, you beat me by seconds!
Hey Pop!Quote:
Originally Posted by 2dumb2kwit
I believe this fella's trying to cut us out of the fun!
Heck, no! Fun is the last thing that I would try to cut someone out of!:tongue_smilie:Quote:
Originally Posted by trax
Besides....what's legal, is only defined by how good your lawyer is. LOL:innocent:
Look. You can't point your finger at any one corporation and say all the ills of the world fall on their shoulders. It just doesn't work that way. Wish it did, it would be very convenient but it doesn't.
Sarky - the short answer is no. I have too much ethics for that. But we're to blame as well for taking on way more debt than common sense should allow by buying far too large of a house and way to much on credit cards.
There was a time when they would have been run out of town? Really? When would that have been? During slavery when men were owned? When Vanderbilt and Garrett and Durant and Ames owned all the railroads? I know, when Carnegie, Rockefeller and Gould owned the steel industry, right? Pashaw! There have always been individuals and groups that lived for power (not money, it's power). And there always will be. Goldman Sachs is just one player in the overall network. If you feel good blaming them then blame them. Just watch your other pocket while you keep you good eye on them. 'Cause some else will be sliding their hand in your pocket while you watch.
Sorry for not being clear. I was refering to the polititions, that Ken spoke of.:blushing:
Well, if there was something to get your knickers in a knot over, that'd be it. Isn't the idea of a free market that politicians don't interfere? Cuz up here, that's all we have (politicians interfering I mean, not a free market) Just wondering, I'm kind of naive about this stuff.Quote:
Originally Posted by 2dumb2kwit
In religion and politics people's beliefs and convictions are in almost every case gotten at second-hand, and without examination, from authorities who have not themselves examined the questions at issue but have taken them at second-hand from other non-examiners, whose opinions about them were not worth a brass farthing.
- Autobiography of Mark Twain
Rick, I generally agree with your post. However, the one thing that changes the entire picture today is government bailouts. It's the GOVERNMENT that has it's hands in our pockets. We can choose to not invest or do business with a corporation. However, the government is now forcing each and everyone of us to bail out those same corporations that people like me have avoided like the plague for the last 10 years.Quote:
Originally Posted by Rick
I agree that common sense precludes buying far too large of a house and way too much on credit cards. Common sense also precludes people from investing without diversifiation and investing in highly speculative stocks, etc. Anyone even remotely attuned to the economy over the last several years, anyone who understood that tremendous credit was being extended to people who clearly did not have the means to repay such debt, knew that the bubble would burst some time soon. If it's too good to be true, it's not safe. I learned that in Economics 101.
My money was withdrawn from the market years ago. Some folks laughed at my government bonds and government insured CDs. Heck, THEY were earning double digits when I was earning between 3% and 7%.
I was cautious and settled for a small return instead of a big score that simply defied logic. Most equity investment vehicles in the last decade were clearly a high risk game.
I resent having to contribute a single dime to bail out any investor or corporation who rode the gravy train off a cliff. When you invest in ANYTHING you do so at your own risk. Higher returns usually involve greater risk. You lose, tough sh!t. Nobody, no corporation or individual, shared their substantial profits with me, so why should I now share in their losses?
You'll get no argument from me on the bail outs. I went on record early on stating if the incentives were used to put people to work then it would be beneficial but not as a free ride to corporations.
Even at that, I wouldn't have been overly miffed if there had been some reasonable oversight in place. What occurred was a pretty bad joke on the taxpayer.
OK....we agree.....but if we don't stop talking about gov't bailouts, I'll be forced to close this thread, for talking politics!:innocent:
Economic Theory: The constant velocity of money and a societies maximum capacity to consume.....:innocent::innocent::innocent:Quote:
Originally Posted by 2dumb2kwit
What do ya say, we lighten up and listen to some music. LOL:innocent:
http://www.youtube.com/watch?v=-yKdGWXTUG4
Good choice of tuneage 2d2k. Nicely done.
Well said. I don't want to bail out those companies, because it encourages more corruption and cheating. But the gov't still uses my money to do so.Quote:
Originally Posted by Ken
True. A single house on my street has had 3 owners in 5 years. And 2 of those years the house was vacant. So who's the stupid one, the buyers or the bank?Quote:
I agree that common sense precludes buying far too large of a house and way too much on credit cards.
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