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    In discussing this week’s Grenfell Tower tragedy in London, the British politician David Lammy has resorted to coruscating language. The inferno, he says, was a case of “corporate manslaughter.” Although he has not been specific about who he is accusing, several entities evidently have a lot of explaining to do. This includes most obviously the...
  • Ten years after In The Jaws Of The Dragon was published, this from The Economist

    https://www.economist.com/news/leaders/21737517-it-bet-china-would-head-towards-democracy-and-market-economy-gamble-has-failed-how

    “How the West got China wrong. It bet that China would head towards democracy and the market economy. The gamble has failed”

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  • There’s been lots of fire and fury around Washington lately, including a brief government shutdown. In Donald Trump’s White House, you can hardly keep up with the ongoing brouhahas from North Korea to Robert Mueller’s Russian investigation, while it already feels like ages since the celebratory mood over the vast corporate tax cuts Congress passed...
  • Crucially, that law didn’t force banks to separate the deposits of everyday Americans from Wall Street’s complex derivatives transactions. In other words, it didn’t resurrect the Glass-Steagall Act of 1933 (axed in the Clinton era).

    That looks like an important point. Wall St profits from creating the leverage and risk while the public are the dummies that provide the guarantee.

    The US would probably have been better off if banking and credit creation (not to say taxation and spending) had never left the local (state and county) level = no FED, no national debt, no government deficits. At the local level, lenders and borrowers know each other with more trust and less anonymity, and they’re not going to fund an Iraq war. Also if they have to, States and counties can no doubt arrange their own education, healthcare, policing etc. without Washington’s help.

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  • Not till they get your guns!
    I’m pretty sure thats why all the false flag shootings are happening.
    They want to disarm America before the next big robbery.
    Wall St is crashing, we’re looking at another major collapse probably bigger than ever before, the whole world is sick of America, the dollar is worthless….
    Anyway, they want to disarm us before they do this last big heist, they know that most people are aware of who is responsible now, even dumb rednecks and 90 year olds that don’t know how to use the internet know now, so they know when they crash it this time folks are gonna be out for scalps.
    I don’t blame em, if I were about to rob someone blind, again, take everything that they own, worked so hard for, I would want them to be armed only with sticks and stones too.
    Makes sense when you look at it from the psychopaths point of view.

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  • The Euro zone is a net creditor with no trade deficit. Even the periphery is running trade surpluses. What is wrong with the Euro is what is right with it.

    The US has way bigger problems than Europe.

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  • @Achmed E. Newman
    I'm just getting started, in the words of some guy in some movie I mostly forgot about. Mr. Priss thinks that Democrat party policy is the answer to our fiancial worries. Freakin' ludicrous, dude! I didn't know the stupidity level was that high yet. Time flies, I suppose ...

    The debt of the US Feral Gov't went up by 150% (or was it only 100%?) during the Obama administration. Nice job D's. Nope, I'm not GOP fan either; that's not the point. This debt has risen to inescapable levels from the 1980's on, when the D's broke the promise to keep domestic spending under control during the time of the military spending build-up. No administration of either wing of THE PARTY is willing to do anything about it, since the big money men are more powerful than the executive branch and have a stranglehold of the legislative branch that does the spending. This spending is enable by the fact that the FED can create money at will and manipulate interest rates below their natural level, with no FED necessary.

    Even my man Ron Paul, if he had any chance of having his way, would not be able to get us out of this $20,000,000,000,000 debt hole. It is about a couple of hundred grand for every (actual) tax-paying family in the country. How are you going to pay that back, unless you (oh, wait a minute ...) inflate the hell out of the money supply, ruining anyone's meager savings? Do you wonder why there are housing bubbles, when there is no safe place to park one's money. Once interest rates rise to a natural rate (the price of money), the interest on this debt will become 30% or more of the damn budget! Even worse, about 10 X that amount in obligations exist, in SS, Medicare, etc. pension promises to people in all sorts of governments and private businesses.

    So, yes, Mr. Priss, we are in for a big crash. We've got something we agree on. The cause, however, is something that your constrained mind, has no way to get to the bottom of. Just clamp down more, run the bureaucracies better (hahahaaa!), that'll do the trick, right?

    This is the big Commie/cntrl-left trick anyway, isn't it? You hope things get completely fucked in a country due to your own people's doings, then, when the people lose most everything including hope, you come in with "We've got the answer. We're gonna regulate the ever-loving shit of you, for your own good! Power to some of us the people, brother!"

    Yeah, maybe you believe all the statist crap, Mr. Priss, but "when you point your finger cause your plans fell through, you've got three more fingers pointing back at you, yeah."

    https://www.youtube.com/watch?v=3RKimf6zYKQ

    Good Dire straits song but nothing Knopfler did subsequently compares to the first 2 albums. A precipitous fall from great heights.

    Whining about the “debt” shows a naive lack of understanding, you only need consider one basic fact, the scum from Jekyll Island print that green garbage from thin air. Illusory money can not create real debt.

    Sure if they ever wanted another depression, they’d start screaming that sh*t is real.

    Full Bluntal Nugity – power over your life. Speaking of underrated guitarists – the nuge killed it during that period.

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  • Russo Oligarch? Fancy meeting you here. Read the Protocols? Just business as usual. Sad. An admission if not a confession. Donnie isn’t doing a good job. People are not falling for this low rent conman. He looks good on TV for entertainment, but he lacks the sincerity or the vision to make it on such a high perch. You all keep getting such bad actors. This isn’t going well.
    The World is about to change. Your time is coming to an end. About time. You suck. I’ve seen better lying on the street than the Lugenpresse. Its that bad.
    There is going to be change sooner than later. Total change takes time, but this story has to go a certain way. The writer is finicky about major plot changes. Its time for the Hand to come out from Behind the Curtain and make this right. Not sure how yet. You have screwed this pooch bad. I’m thinking.

    STAY OUT OF THE WAY.

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  • @NoseytheDuke
    Regulations is just another way of describing laws. America is supposed to be a nation where laws matter. Are you suggested that the people should be governed by laws but banks should not? That's just silly. You question another commenters deficiencies in the knowledge of economics so allow me to question yours regarding history. Banks have caused inflation and deflation to serve their greed at the expense of the people ever since moneylending began. WJ Clinton abolished Glass-Steagal regulations which gave the world the last financial crisis and the next. Back to school for you, you self-confessed butt-fucker that you claimed to be in your last comment. Ugh!

    The next financial crisis is not gonna be due to the lack of Glass-Steagal. The FED has made money cheap to borrow for a decade now, causing a big bubble in stocks and just causing people, pension funds, anyone trying to get a return, to put it into risky investments.

    The US debt is only twice as large as it was in 2008, and consumers are borrowing via the student loan racket*, auto loans, and credit cards to try to live the lifestyle of yesteryear while the American economy does not create enough real wealth to back it up. What happens next is not gonna be pretty.

    .
    .

    * Speaking of Big-Gov induced problems, the backing of all of these loans by the US Feral Gov is allowing students to borrow mortgage-sized amounts of money for 4 years of fun studying in ANY field. The banks have nothing to lose, only the taxpayers do. See here, here, here, here, and here for details on the university bubble.)

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  • @NoseytheDuke
    Regulations is just another way of describing laws. America is supposed to be a nation where laws matter. Are you suggested that the people should be governed by laws but banks should not? That's just silly. You question another commenters deficiencies in the knowledge of economics so allow me to question yours regarding history. Banks have caused inflation and deflation to serve their greed at the expense of the people ever since moneylending began. WJ Clinton abolished Glass-Steagal regulations which gave the world the last financial crisis and the next. Back to school for you, you self-confessed butt-fucker that you claimed to be in your last comment. Ugh!

    Right, so going back to school is supposed to set me straight. Sure, sure. They are the most statist institutions we have in our country. I don’t see how you have come to understand that banks cause inflation and deflation, unless you meant central banks. You have to be able to make money, the easy way, by printing or adding “1″s and “0″s in a computer file, like central banks do, as inflation of prices is caused by an increase in the money supply.

    Banks were originally made to store money, real money that is, meaning silver and gold. Then, they issued paper certificates to represent the gold stored, but those pieces of paper could be redeemed back for the gold. Could they rip people off? Sure, but theft has been against the law, like, forever. The 1st bank of Greentown cannot create money, though.

    I’ll have to repeat myself since it doesn’t seem like you understood: Big Gov and Big banking go hand in hand, but the bankers only have lots to gain when they can get governments to do their bidding – that only works when government has lots of power (for example when a country founded by the wisest people to have ever founded a nation is full of people who don’t defend their legacy, the Constitution). Big government has lots of power via regulation, to make sure any small honest businesses don’t stand a chance.

    How far do you think you’d get opening your own bank, before you got regulated right out the back door? I mentioned schools – do you think if you and some neighbors (maybe ex-engineers to teach math, out-of-work writers to teach English) tried to form a low-cost high-learning school for the neighborhood you’d last more than a day before 10 alphabet agencies shut the whole show down?

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  • @Achmed E. Newman
    You just can't even imagine anything resembling freedom and how that works, can you Renfo? Banks have been regulated for a long, long time. Money has been regulated for a long long time. People wouldn't have had to leave their money in banks that were supposedly "safe" due to the FDIC if it wasn't for government regulation of all things financial. People make very damn sound decisions when their money isn't "backed up" by the taxpayers, like, pretty much, themselves.

    The early '80's depression was a hold-over from the Jimmy Carter malaise years due to heavy inflation - interest rates were raised sharply by FED chairman Volcker which took care of inflation. It's not that we needed the FED, as if the US dollar hadn't been made free to float from all monetary reality in. 1971 (Nixon) the inflation wouldn't have happened in the 1st place, and interest rates would have been set by the market at the "time value of money".)

    Talk about your financial knowledge deficiencies .... where you from, boy? Squeal like a pig for me, will ya?

    Regulations is just another way of describing laws. America is supposed to be a nation where laws matter. Are you suggested that the people should be governed by laws but banks should not? That’s just silly. You question another commenters deficiencies in the knowledge of economics so allow me to question yours regarding history. Banks have caused inflation and deflation to serve their greed at the expense of the people ever since moneylending began. WJ Clinton abolished Glass-Steagal regulations which gave the world the last financial crisis and the next. Back to school for you, you self-confessed butt-fucker that you claimed to be in your last comment. Ugh!

    Read More
    • Replies: @Achmed E. Newman
    Right, so going back to school is supposed to set me straight. Sure, sure. They are the most statist institutions we have in our country. I don't see how you have come to understand that banks cause inflation and deflation, unless you meant central banks. You have to be able to make money, the easy way, by printing or adding "1"s and "0"s in a computer file, like central banks do, as inflation of prices is caused by an increase in the money supply.

    Banks were originally made to store money, real money that is, meaning silver and gold. Then, they issued paper certificates to represent the gold stored, but those pieces of paper could be redeemed back for the gold. Could they rip people off? Sure, but theft has been against the law, like, forever. The 1st bank of Greentown cannot create money, though.

    I'll have to repeat myself since it doesn't seem like you understood: Big Gov and Big banking go hand in hand, but the bankers only have lots to gain when they can get governments to do their bidding - that only works when government has lots of power (for example when a country founded by the wisest people to have ever founded a nation is full of people who don't defend their legacy, the Constitution). Big government has lots of power via regulation, to make sure any small honest businesses don't stand a chance.

    How far do you think you'd get opening your own bank, before you got regulated right out the back door? I mentioned schools - do you think if you and some neighbors (maybe ex-engineers to teach math, out-of-work writers to teach English) tried to form a low-cost high-learning school for the neighborhood you'd last more than a day before 10 alphabet agencies shut the whole show down?
    , @Achmed E. Newman
    The next financial crisis is not gonna be due to the lack of Glass-Steagal. The FED has made money cheap to borrow for a decade now, causing a big bubble in stocks and just causing people, pension funds, anyone trying to get a return, to put it into risky investments.

    The US debt is only twice as large as it was in 2008, and consumers are borrowing via the student loan racket*, auto loans, and credit cards to try to live the lifestyle of yesteryear while the American economy does not create enough real wealth to back it up. What happens next is not gonna be pretty.

    .
    .

    * Speaking of Big-Gov induced problems, the backing of all of these loans by the US Feral Gov is allowing students to borrow mortgage-sized amounts of money for 4 years of fun studying in ANY field. The banks have nothing to lose, only the taxpayers do. See here, here, here, here, and here for details on the university bubble.)

    ReplyAgree/Disagree/Etc.
  • @Achmed E. Newman
    I've never hollered for more regulations, and I never will. The people that make the regulations are the same big money men, or their paid lackies that you rightfully have a problem with, Renfro. It's people like you that have never even seen a free day in your lives, because maybe you're too young, and your parents never related enough stories to you, that want BIG GOV to come save them. All the problems that you say you need more regulation to solve are problems created by regulations to begin with.

    Cause cowboy….there aint no going back to the gold standard Paul days when folks paid their doctor bill with a dozen eggs and a chicken and your pal the Sherriff was the only law.
     
    Who knows, once the SHTF, you may be better off with some chickens, and Dr. Paul may not see you even then (firstly, because you can't have babies, and maybe he's sick and tired of people who've supported the decades-long socialist slide in this county.)

    I may see your advertised documentary, nonetheless, as I'd probably be in agreement with the guy on a lot, but it sounds like he never gets to the really basic causes. As far "might as well leave my money in a mattress", well, to buck the system he should have just done that, rather than bitching about it - and he'd have been definitely better off not run his mouth if he had.

    It’s people like you that have never even seen a free day in your lives, because maybe you’re too young, and your parents never related enough stories to you, that want BIG GOV to come save them

    That’s funny. I am probably older than you or as old. I owned 2 companies before I retired, a highway construction firm and a beer distributorship… I know all about regulations, believe me.
    My father and his 5 brothers all owned their own businesses, my three brothers all own their own businesses, 13 of my 17 cousins all own their on businesses. Big government has never given us anything.

    But it has cost us by not enforcing some regulations and not regulating the financial markets that effect consumers.

    I don’t know what you do but if you don’t get the big picture about how lack of financial regulations contribute to market crashes that effect the economy and therefore everyone’s business …well then you just don’t get it.

    I’m not going to argue with you about it though….so good luck.

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  • Anon • Disclaimer says:

    Consumer Financial Protection Bureau is some sort of protective agency for CONSUMERS???

    On what planet was the author born? CFPB was a leftist protection racket designed to punish non-conforming banks and funnel millions of dollars in penalties to leftist causes:

    “Hey! Nice-looking bank ya got dere! Be a shame if anything was to happen to it!”

    CFPB is to “consumers”, as KKK is to “crosses”!

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  • @renfro
    Oh for gawds sake shut up with the whacko libertarian crap .
    Like a wind up dollies all you de regulators can say is.....end the Fed! end the government!, end this! end that!

    You clearly don't understand what financial markets and banking is all about today or you'd be hollering...gimme some more regulation!"...if you had any money at stake.
    Cause cowboy....there aint no going back to the gold standard Paul days when folks paid their doctor bill with a dozen eggs and a chicken and your pal the Sherriff was the only law.
    Maybe since this is on film you will watch it and learn something.... average Americans with savings or investments and retirement account of any kind lost a third of their wealth in the 2008 crash thanks to de regulation ...all told it added up to 12.8 trillion dollars Americans lost.


    INSIDE JOB ---DOCUMENTARY

    I think you can find it for free on youtube.
    Here's a review for those not familiar. I urge everyone to watch it.

    Movie review: 'Inside Job'
    Charles Ferguson presents a clear-eyed, sobering, commendable account of how the global economic crisis developed.

    ''How did things go so horribly wrong?

    You have questions, "Inside Job" has answers. This documentary, narrated by Matt Damon, does a good job of explaining a complex story of credit and discredit. After watching Charles Ferguson's powerhouse documentary about the global economic crisis, you will more than understand what went down — you will be thunderstruck and boiling with rage.

    For this smart and confident film, thick with useful information conveyed with cinematic verve, lays out in comprehensive but always understandable detail the argument that the meltdown of 2008 was no unfortunate accident. Rather, the film posits, it was the result of an out-of-control finance industry that took unethical advantage of decades of deregulation. It's enough to make you want to keep your money in a mattress.
    Ferguson, who wrote and directed the excellent Oscar-nominated "No End in Sight," about the U.S. occupation of Iraq, is ideally positioned to deliver the kind of thorough-going, persuasive analysis that "Inside Job" provides.
    Neither a film school graduate nor an ideologue, Ferguson is rather a well-connected academic who has a doctorate in political science from MIT, was a senior fellow at the Brookings Institution and has been a consultant for high-tech firms such as Apple, Intel and Xerox.
    Those connections and that background give the film assets many documentaries lack. For one thing, it has given Ferguson access to the kind of authoritative insiders who usually don't appear on camera, including International Monetary Fund head Dominique Strauss-Kahn, French Minister of Finance Christine Lagarde and Singapore Prime Minister Lee Hsien Loong.
    Ferguson's credentials, and his sense of outrage, give him the intelligence to ask the tough questions and the willingness to do so. More than one of "Inside Job's" talking heads look seriously disconcerted when the filmmaker says things like "You can't be serious" and "Forgive me, that's clearly not true." Glenn Hubbard, dean of the Columbia University business school, is so flustered he snaps, "You have three more minutes. Give it your best shot.".....continued

    http://webcache.googleusercontent.com/search?q=cache:9NQ7GjwS3mkJ:articles.latimes.com/2010/oct/15/entertainment/la-et-inside-job-20101015+&cd=8&hl=en&ct=clnk&gl=us

    I’ve never hollered for more regulations, and I never will. The people that make the regulations are the same big money men, or their paid lackies that you rightfully have a problem with, Renfro. It’s people like you that have never even seen a free day in your lives, because maybe you’re too young, and your parents never related enough stories to you, that want BIG GOV to come save them. All the problems that you say you need more regulation to solve are problems created by regulations to begin with.

    Cause cowboy….there aint no going back to the gold standard Paul days when folks paid their doctor bill with a dozen eggs and a chicken and your pal the Sherriff was the only law.

    Who knows, once the SHTF, you may be better off with some chickens, and Dr. Paul may not see you even then (firstly, because you can’t have babies, and maybe he’s sick and tired of people who’ve supported the decades-long socialist slide in this county.)

    I may see your advertised documentary, nonetheless, as I’d probably be in agreement with the guy on a lot, but it sounds like he never gets to the really basic causes. As far “might as well leave my money in a mattress”, well, to buck the system he should have just done that, rather than bitching about it – and he’d have been definitely better off not run his mouth if he had.

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    • Replies: @renfro

    It’s people like you that have never even seen a free day in your lives, because maybe you’re too young, and your parents never related enough stories to you, that want BIG GOV to come save them
     
    That's funny. I am probably older than you or as old. I owned 2 companies before I retired, a highway construction firm and a beer distributorship... I know all about regulations, believe me.
    My father and his 5 brothers all owned their own businesses, my three brothers all own their own businesses, 13 of my 17 cousins all own their on businesses. Big government has never given us anything.

    But it has cost us by not enforcing some regulations and not regulating the financial markets that effect consumers.

    I don't know what you do but if you don't get the big picture about how lack of financial regulations contribute to market crashes that effect the economy and therefore everyone's business ...well then you just don't get it.

    I'm not going to argue with you about it though....so good luck.

    ReplyAgree/Disagree/Etc.
  • @renfro

    . The thing is, the American economy was so fundamentally strong all the way through even the 1980′s as it created wealth for America and 1/2 the rest of the world, that even with
     
    BTW..do you live on planet earth?

    We had a depression in the early eighties ---some effects of which persisted into the early 90's.
    Interest rates ran 16%, unemployment 10%, the Saving and Loan deregulation sent S&L execs crazy with visions of riches and bad loans and caused 1000's of failures which the Federal Savings and Loan Insurance Corporation (FSLIC), which insured the deposits in failed S&Ls, had to bail out at a cost of $160 billion.
    The average cost to every taxpayer of that deregulation of S&L's was around $16,000 each.

    You just can’t even imagine anything resembling freedom and how that works, can you Renfo? Banks have been regulated for a long, long time. Money has been regulated for a long long time. People wouldn’t have had to leave their money in banks that were supposedly “safe” due to the FDIC if it wasn’t for government regulation of all things financial. People make very damn sound decisions when their money isn’t “backed up” by the taxpayers, like, pretty much, themselves.

    The early ’80′s depression was a hold-over from the Jimmy Carter malaise years due to heavy inflation – interest rates were raised sharply by FED chairman Volcker which took care of inflation. It’s not that we needed the FED, as if the US dollar hadn’t been made free to float from all monetary reality in. 1971 (Nixon) the inflation wouldn’t have happened in the 1st place, and interest rates would have been set by the market at the “time value of money”.)

    Talk about your financial knowledge deficiencies …. where you from, boy? Squeal like a pig for me, will ya?

    Read More
    • Replies: @NoseytheDuke
    Regulations is just another way of describing laws. America is supposed to be a nation where laws matter. Are you suggested that the people should be governed by laws but banks should not? That's just silly. You question another commenters deficiencies in the knowledge of economics so allow me to question yours regarding history. Banks have caused inflation and deflation to serve their greed at the expense of the people ever since moneylending began. WJ Clinton abolished Glass-Steagal regulations which gave the world the last financial crisis and the next. Back to school for you, you self-confessed butt-fucker that you claimed to be in your last comment. Ugh!
    ReplyAgree/Disagree/Etc.
  • @Anonymous
    Trump appointed all of Clinton's first choices. Nomi was working at Chase Manhattan, Bear Stearns and then Goldman Sachs with some of the same people during the original Clinton administration. It's hard to tell exaclty when folks like Nomi retire to go work for the CIA to write propaganda. They are probably hired long before anyone knows who they are like Ralph Nader, Amy Goodman or Chris Hedges.

    The best slave countries have most of the population living in chains. Caring, parental personalities write stories and give interviews to remind the sheep how their merciful Government has some personel problems at the moment but all is not lost - wait until the next fake election.

    Wall Street's media arm reminds patriotic slaves to pay a huge portion of their income to their masters, to commit themselves to death worship and obliteration of the self.

    Goethe said that “no man is more enslaved that he who falsely believes himself to be free” and no people believe themselves to be more free than the American people themselves.

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  • @Achmed E. Newman
    Another statist heard from. Mr. Priss is right in the one point, that the finances of government and private finances in America are in deep trouble. This is not something recent however. One could go back to the founding of the "Federal" "Reserve" bank back in 1913, or just 1971 or so from the abandonment of sound-money policy. The thing is, the American economy was so fundamentally strong all the way through even the 1980's as it created wealth for America and 1/2 the rest of the world, that even with un-sound, government-created amounts of it, the US dollar could remain strong.

    Mr. Priss's whole article is filled with his cntrl-left support of "more regulations", "better regulations", "yeah, run the FED better", "go SEC, go Dodd-Frank". It's some idiotic thinking to believe you can make the economy better by clamping down on it with more regulation. Do you understand, Mr. Priss, that BIG FINANCE and BIG FERAL GOV go hand in hand? Are the Jamie Dimons, and all the big-money guys you rightfully deplore, gonna do worse under new regulations that they help write up? More regulation has the effect of screwing the small guy, in any business, with paperwork and threats of guys with guns shutting the place down due to any effort to "get things done without the bullshit.'

    You extoll taxpayer-supported worthless agencies like the CFPB, and next it'll be OSHA, the CARB (just CA law, but screws over businesses across the nation). I've got a feeling you've never worked in any real job in your life, Mr. Priss, especially in a small business. Everything you and you cntrl-left buddies support is anti-small business!

    OK, that sounds contradictory, but that's because you people don't get one very basic point: The big money men will always do well when there's something BIG GOV can help them with. Were the US Feral Gov not in the money business, the free market would allow any type of money that worked to be used. Our founders were pretty sure gold and silver would do the trick. Your screed here is anathema to people such as our founders and the great Andy Jackson who defeated the Central bank.

    END! THE! FED! .... by any means necessary.

    . The thing is, the American economy was so fundamentally strong all the way through even the 1980′s as it created wealth for America and 1/2 the rest of the world, that even with

    BTW..do you live on planet earth?

    We had a depression in the early eighties —some effects of which persisted into the early 90′s.
    Interest rates ran 16%, unemployment 10%, the Saving and Loan deregulation sent S&L execs crazy with visions of riches and bad loans and caused 1000′s of failures which the Federal Savings and Loan Insurance Corporation (FSLIC), which insured the deposits in failed S&Ls, had to bail out at a cost of $160 billion.
    The average cost to every taxpayer of that deregulation of S&L’s was around $16,000 each.

    Read More
    • Replies: @Achmed E. Newman
    You just can't even imagine anything resembling freedom and how that works, can you Renfo? Banks have been regulated for a long, long time. Money has been regulated for a long long time. People wouldn't have had to leave their money in banks that were supposedly "safe" due to the FDIC if it wasn't for government regulation of all things financial. People make very damn sound decisions when their money isn't "backed up" by the taxpayers, like, pretty much, themselves.

    The early '80's depression was a hold-over from the Jimmy Carter malaise years due to heavy inflation - interest rates were raised sharply by FED chairman Volcker which took care of inflation. It's not that we needed the FED, as if the US dollar hadn't been made free to float from all monetary reality in. 1971 (Nixon) the inflation wouldn't have happened in the 1st place, and interest rates would have been set by the market at the "time value of money".)

    Talk about your financial knowledge deficiencies .... where you from, boy? Squeal like a pig for me, will ya?
    ReplyAgree/Disagree/Etc.
  • @Achmed E. Newman
    Another statist heard from. Mr. Priss is right in the one point, that the finances of government and private finances in America are in deep trouble. This is not something recent however. One could go back to the founding of the "Federal" "Reserve" bank back in 1913, or just 1971 or so from the abandonment of sound-money policy. The thing is, the American economy was so fundamentally strong all the way through even the 1980's as it created wealth for America and 1/2 the rest of the world, that even with un-sound, government-created amounts of it, the US dollar could remain strong.

    Mr. Priss's whole article is filled with his cntrl-left support of "more regulations", "better regulations", "yeah, run the FED better", "go SEC, go Dodd-Frank". It's some idiotic thinking to believe you can make the economy better by clamping down on it with more regulation. Do you understand, Mr. Priss, that BIG FINANCE and BIG FERAL GOV go hand in hand? Are the Jamie Dimons, and all the big-money guys you rightfully deplore, gonna do worse under new regulations that they help write up? More regulation has the effect of screwing the small guy, in any business, with paperwork and threats of guys with guns shutting the place down due to any effort to "get things done without the bullshit.'

    You extoll taxpayer-supported worthless agencies like the CFPB, and next it'll be OSHA, the CARB (just CA law, but screws over businesses across the nation). I've got a feeling you've never worked in any real job in your life, Mr. Priss, especially in a small business. Everything you and you cntrl-left buddies support is anti-small business!

    OK, that sounds contradictory, but that's because you people don't get one very basic point: The big money men will always do well when there's something BIG GOV can help them with. Were the US Feral Gov not in the money business, the free market would allow any type of money that worked to be used. Our founders were pretty sure gold and silver would do the trick. Your screed here is anathema to people such as our founders and the great Andy Jackson who defeated the Central bank.

    END! THE! FED! .... by any means necessary.

    Oh for gawds sake shut up with the whacko libertarian crap .
    Like a wind up dollies all you de regulators can say is…..end the Fed! end the government!, end this! end that!

    You clearly don’t understand what financial markets and banking is all about today or you’d be hollering…gimme some more regulation!”…if you had any money at stake.
    Cause cowboy….there aint no going back to the gold standard Paul days when folks paid their doctor bill with a dozen eggs and a chicken and your pal the Sherriff was the only law.
    Maybe since this is on film you will watch it and learn something…. average Americans with savings or investments and retirement account of any kind lost a third of their wealth in the 2008 crash thanks to de regulation …all told it added up to 12.8 trillion dollars Americans lost.

    INSIDE JOB —DOCUMENTARY

    I think you can find it for free on youtube.
    Here’s a review for those not familiar. I urge everyone to watch it.

    Movie review: ‘Inside Job’
    Charles Ferguson presents a clear-eyed, sobering, commendable account of how the global economic crisis developed.

    ”How did things go so horribly wrong?

    You have questions, “Inside Job” has answers. This documentary, narrated by Matt Damon, does a good job of explaining a complex story of credit and discredit. After watching Charles Ferguson’s powerhouse documentary about the global economic crisis, you will more than understand what went down — you will be thunderstruck and boiling with rage.

    For this smart and confident film, thick with useful information conveyed with cinematic verve, lays out in comprehensive but always understandable detail the argument that the meltdown of 2008 was no unfortunate accident. Rather, the film posits, it was the result of an out-of-control finance industry that took unethical advantage of decades of deregulation. It’s enough to make you want to keep your money in a mattress.
    Ferguson, who wrote and directed the excellent Oscar-nominated “No End in Sight,” about the U.S. occupation of Iraq, is ideally positioned to deliver the kind of thorough-going, persuasive analysis that “Inside Job” provides.
    Neither a film school graduate nor an ideologue, Ferguson is rather a well-connected academic who has a doctorate in political science from MIT, was a senior fellow at the Brookings Institution and has been a consultant for high-tech firms such as Apple, Intel and Xerox.
    Those connections and that background give the film assets many documentaries lack. For one thing, it has given Ferguson access to the kind of authoritative insiders who usually don’t appear on camera, including International Monetary Fund head Dominique Strauss-Kahn, French Minister of Finance Christine Lagarde and Singapore Prime Minister Lee Hsien Loong.
    Ferguson’s credentials, and his sense of outrage, give him the intelligence to ask the tough questions and the willingness to do so. More than one of “Inside Job’s” talking heads look seriously disconcerted when the filmmaker says things like “You can’t be serious” and “Forgive me, that’s clearly not true.” Glenn Hubbard, dean of the Columbia University business school, is so flustered he snaps, “You have three more minutes. Give it your best shot.”…..continued

    http://webcache.googleusercontent.com/search?q=cache:9NQ7GjwS3mkJ:articles.latimes.com/2010/oct/15/entertainment/la-et-inside-job-20101015+&cd=8&hl=en&ct=clnk&gl=us

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    • Replies: @Achmed E. Newman
    I've never hollered for more regulations, and I never will. The people that make the regulations are the same big money men, or their paid lackies that you rightfully have a problem with, Renfro. It's people like you that have never even seen a free day in your lives, because maybe you're too young, and your parents never related enough stories to you, that want BIG GOV to come save them. All the problems that you say you need more regulation to solve are problems created by regulations to begin with.

    Cause cowboy….there aint no going back to the gold standard Paul days when folks paid their doctor bill with a dozen eggs and a chicken and your pal the Sherriff was the only law.
     
    Who knows, once the SHTF, you may be better off with some chickens, and Dr. Paul may not see you even then (firstly, because you can't have babies, and maybe he's sick and tired of people who've supported the decades-long socialist slide in this county.)

    I may see your advertised documentary, nonetheless, as I'd probably be in agreement with the guy on a lot, but it sounds like he never gets to the really basic causes. As far "might as well leave my money in a mattress", well, to buck the system he should have just done that, rather than bitching about it - and he'd have been definitely better off not run his mouth if he had.
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  • @Greg Bacon
    My guess is that with a GOYIM now being in charge of the FED, instead of a Chosen One, the fan is going to be mighty busy in the coming months.

    But have no fear, when the next FED bubble pops, they'll explain to the huddled masses that the FED doens't have enough thin air to reflate the economy and resuscitate the dead dollar, but that the IMF has an unlimited supply of thin air and they will gladly loan that to the FED.
    Since there will be a new fiat currency scheme, us slaves will be forced to trade in our worthless FED notes for the new improved currency, Goldmans Own Denomination, aka GOD. And for every $10 of the funny FED money we turn in, we'll get one GOD!

    Yes, quite a bite, but we must all make sacrifices so that the 1% can continue to live like its 1788 France.

    Greg Bacon said: “Since there will be a new fiat currency scheme, us slaves will be forced to trade in our worthless FED notes for the new improved currency, Goldmans Own Denomination, aka GOD. And for every $10 of the funny FED money we turn in, we’ll get one GOD!”

    Cool, Greg — “one GOD.”

    I predict you have made “Lowerarchy”elites rather envious by inventing a priceless- blasphemous name for the “new improved currency” to come & for the happiness of us “slaves.” *

    Very creative & thanks, Greg!

    Selah, what’s in your Wormwood wallet?

    * C.S. Lewis christened the Lowerachy in his satiric book, “The Screwtape Letters.” He died on the same day JFK was murdered.

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  • My guess is that with a GOYIM now being in charge of the FED, instead of a Chosen One, the fan is going to be mighty busy in the coming months.

    But have no fear, when the next FED bubble pops, they’ll explain to the huddled masses that the FED doens’t have enough thin air to reflate the economy and resuscitate the dead dollar, but that the IMF has an unlimited supply of thin air and they will gladly loan that to the FED.
    Since there will be a new fiat currency scheme, us slaves will be forced to trade in our worthless FED notes for the new improved currency, Goldmans Own Denomination, aka GOD. And for every $10 of the funny FED money we turn in, we’ll get one GOD!

    Yes, quite a bite, but we must all make sacrifices so that the 1% can continue to live like its 1788 France.

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    • Replies: @ChuckOrloski
    Greg Bacon said: "Since there will be a new fiat currency scheme, us slaves will be forced to trade in our worthless FED notes for the new improved currency, Goldmans Own Denomination, aka GOD. And for every $10 of the funny FED money we turn in, we’ll get one GOD!"

    Cool, Greg -- "one GOD."

    I predict you have made "Lowerarchy"elites rather envious by inventing a priceless- blasphemous name for the "new improved currency" to come & for the happiness of us "slaves." *

    Very creative & thanks, Greg!

    Selah, what's in your Wormwood wallet?

    * C.S. Lewis christened the Lowerachy in his satiric book, "The Screwtape Letters." He died on the same day JFK was murdered.
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  • The D.C. and N.Y.C. elite have long been absorbed by financial capital. Trump is one of the many; his administration is nothing new. There is always room in any Democratic or Republican administration for a “crew of ex-bankers and Goldman Sachs alumni.”

    Financial capital is dangerous. It controls just about everything.

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  • @DESERT FOX
    The Zionist bankers privately owned FED is the most dangerous diabolical tool that the Zionists have that is going to destroy America and this is a planned debt destruction with the laying on of unpayable debt on the backs of the American middle class, and make no mistake it is part of the plan for a Zionist NWO.

    This planned destruction began in 1913 with the Zionist central bank creation and the Zionist IRS also in 1913, with the creation of creating money out of thin air and loaning it to the government and the people at interest, when this money could be issued debt free by the government itself , but of course this would mean that the Zionist bankers would not have control over the U.S. without their FED monopoly.

    The time is coming and soon when the interest on the debt will be unpayable and the whole Ponzi scheme collapse and we will be thrust into the Zionist NWO which will maker Orwells 1984 seem like a walk in the park.

    Read THE PROTOCOLS OF ZION and the 10 planks of the COMMUNIST MANIFESTO to see what is happening to America.

    And watch this video, Silent Weapons For Quite Wars Document.
    Man this document is scary. A must read (hear) how the globalists think about economics and how they study and manipulate populations and economies.

    Must Watch Must Watch Must Watch, the Protocols of Zion of our times.
    So you see economists convert economic systems into mechanical or electronic systems, use the science of electronics to find solutions and then reconvert them back into economic systems. All you have to know is the ‘codebook’ of conversion. Pretty smart.
    People who do not understand Operation Amplifiers (Electronics) can read about them here. You just need to know the basics.

    https://en.wikipedia.org/wiki/Operational_amplifier

    https://www.electronics-tutorials.ws/opamp/opamp_1.html

    Op Amps are used basically to amplify the input signal but can be used via various configurations and feedbacks loops to perform operations such as addition of input signals being one example. You get Op Amps in the market as chips.

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  • Anonymous • Disclaimer says:

    Trump appointed all of Clinton’s first choices. Nomi was working at Chase Manhattan, Bear Stearns and then Goldman Sachs with some of the same people during the original Clinton administration. It’s hard to tell exaclty when folks like Nomi retire to go work for the CIA to write propaganda. They are probably hired long before anyone knows who they are like Ralph Nader, Amy Goodman or Chris Hedges.

    The best slave countries have most of the population living in chains. Caring, parental personalities write stories and give interviews to remind the sheep how their merciful Government has some personel problems at the moment but all is not lost – wait until the next fake election.

    Wall Street’s media arm reminds patriotic slaves to pay a huge portion of their income to their masters, to commit themselves to death worship and obliteration of the self.

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    • Replies: @NoseytheDuke
    Goethe said that "no man is more enslaved that he who falsely believes himself to be free" and no people believe themselves to be more free than the American people themselves.
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  • @NoseytheDuke
    I'd say it's about bringing Joe-Six Pack to his knees and while he's there they'll have the US military running rampant around the globe serving the nation that they really serve.

    NoseytheDuke wisely & plain spokenly said: “I’d say it’s about bringing Joe-Six Pack to his knees and while he’s there they’ll have the US military running rampant around the globe serving the nation that they really serve.”

    Hi Nosey,

    Article author Nomi Prins did an outstanding job in naming the names & corresponding shady curriculum vitaes of the ZUS President Trump team, consisting of “financial arsonists.”

    However, by discussing the deliberate assault upon “Joe Six-Pack” fortunes, for me, your comment brought forth the administration’s unaccountsble license-to-steal into a level where US citizens (consumers!) have become a helplessly occupied nation & one divided into what a gospel presented as, “The Rich Man and Lazarus.”

    In ZUS government & banking systems sum, it really is “Too Big to Fail” and Too Big to Prosecute.

    I like how you think, NoseytheDuke.

    What’s more, it’s nauseating how deceptive are the ZUS government & Corporate Media’s presentation of rigged FACTS & STATISTICS as to how the ZUS robber (astronomic debt-fueled) economy is faring.

    FYI, Nosey, I like reading Conan Doyle’s “Adventures of Sherlock Holmes” where one can gain insight into the minds of sharp criminal thieves. In short story “The Boscombe Valley Mystery,” with a chuckle, Holmes addressed Watson and said, “There is nothing more deceptive than an obvious fact.”

    Joe Six-Packs are always the part thrown away. And as Nomi Prins ended this good article, “… then of course, there’s another crash, millions suffer, and remorse returns.” (Zigh)

    Will the circle of deceit be forever unbroken?

    Our Federal Reserve institutionalized government robbery is protected by invincible military neatness including it’s “on call” offensive intervention servive, except of course where needed, i.e., the bandit D.C. regime. W.T.F.? Lies are brighter than truth, and, it’s exactly how you pegged, Nosey, “… they’ll have the US military running rampant around the globe serving the nation that they really serve.”

    Thanks.

    Selah, wise arsonists will heavily insure things prior to incineration.

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  • @DESERT FOX
    The Zionist bankers privately owned FED is the most dangerous diabolical tool that the Zionists have that is going to destroy America and this is a planned debt destruction with the laying on of unpayable debt on the backs of the American middle class, and make no mistake it is part of the plan for a Zionist NWO.

    This planned destruction began in 1913 with the Zionist central bank creation and the Zionist IRS also in 1913, with the creation of creating money out of thin air and loaning it to the government and the people at interest, when this money could be issued debt free by the government itself , but of course this would mean that the Zionist bankers would not have control over the U.S. without their FED monopoly.

    The time is coming and soon when the interest on the debt will be unpayable and the whole Ponzi scheme collapse and we will be thrust into the Zionist NWO which will maker Orwells 1984 seem like a walk in the park.

    Read THE PROTOCOLS OF ZION and the 10 planks of the COMMUNIST MANIFESTO to see what is happening to America.

    You keep continuously upsetting me. There is no such thing as THE PROTOCOLS OF ZION.
    There is such thing as PROTOCOLS OF THE ELDERS OF ZION.
    This indicates to me that you actually never read the protocols.
    I Did,
    There is nothing there except instructions what every ruling class is doing and should do.
    There was some peculiar thing there about French Jewish Doctors.
    But I do not know what it was. It was long time ago when I did read the Protocols…..
    …………………………………………………………………………………………………………………

    Concerning Banks you are right. All Banks should be nationilized, and so they eventually will be nationalizided.

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  • I appreciate this information —-

    when ensuring fairness is mistaken for interference, someone’s going to pay.

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  • To Nomi Prins,
    Many of us grew up in a world that was not black and white. So when you paint current events in a mostly black brush, we have to sit back and wonder about your motives, and agendas, and the media, educational, and cultural programming you were influenced by.
    The obvious conclusion…
    Trump is the face of a powerful growing unwritten mandate by we non-pyschopath billions of humans for productive and beneficial change.
    Countering us is the deep state which has tentacles developed over decades reaching into and subverting governments, institutions, and knowledge sources.
    So for you to imply sudden and absolute changes are possible by one man, runs against most of our experiences in the real world.
    Do you remember how mathematicians justified Calculus, by assuming that small incremental changes are natural in the real world, and that they eventually lead up to macro-changes?
    We are witnesses a mathematical like new politics and state-craft that has never before been evident in our written history. I am led to believe that advanced software, super and quantum computers, and A.I. are being used by hidden behind the scene benificial forces to predict and alter possible near and far future outcomes for the better…

    .

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  • Indeed. Well said.

    But, while I confess to not being a financial expert, perhaps the system is so rotten that there can’t be a financial meltdown, at least not in the normal sense. The government can always electronically print more money, and loan out infinite amounts at zero percent interest, and bail all the big companies out, and maybe a classic financial crisis is impossible.

    It may be, perhaps, that what we need to worry about is physical reality. In order to keep wages low, the government is massively growing our population. They are also outsourcing more and more manufacturing. We are self-sufficient in energy – for now – but may start to become dependent on imports of food before too long (our population is slated to pass 500 million by 2004, and still rising rapidly).

    So debt that we owe ourselves in our own currency really doesn’t matter. Debt that we owe foreigners in our own currency also doesn’t matter. However, if we are dependent on these foreigners for manufactured goods and food, that is a problem. And if our real physical investment in our own non-financial economy does not keep up, that is a problem. We could start to see inflation – but this would not be due to printing too much money, it would be due to there just not being enough to go around physically. So maybe we should do like Keynes used to do, and keep track of food production and consumption, and how much of our supply line comes from other nations. Those might be the real variables to keep an eye on.

    Because the zeroth law of economics is: physically impossible things won’t happen, the marginal rate of taxation on capital gains be damned.

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  • I’m just getting started, in the words of some guy in some movie I mostly forgot about. Mr. Priss thinks that Democrat party policy is the answer to our fiancial worries. Freakin’ ludicrous, dude! I didn’t know the stupidity level was that high yet. Time flies, I suppose …

    The debt of the US Feral Gov’t went up by 150% (or was it only 100%?) during the Obama administration. Nice job D’s. Nope, I’m not GOP fan either; that’s not the point. This debt has risen to inescapable levels from the 1980′s on, when the D’s broke the promise to keep domestic spending under control during the time of the military spending build-up. No administration of either wing of THE PARTY is willing to do anything about it, since the big money men are more powerful than the executive branch and have a stranglehold of the legislative branch that does the spending. This spending is enable by the fact that the FED can create money at will and manipulate interest rates below their natural level, with no FED necessary.

    Even my man Ron Paul, if he had any chance of having his way, would not be able to get us out of this $20,000,000,000,000 debt hole. It is about a couple of hundred grand for every (actual) tax-paying family in the country. How are you going to pay that back, unless you (oh, wait a minute …) inflate the hell out of the money supply, ruining anyone’s meager savings? Do you wonder why there are housing bubbles, when there is no safe place to park one’s money. Once interest rates rise to a natural rate (the price of money), the interest on this debt will become 30% or more of the damn budget! Even worse, about 10 X that amount in obligations exist, in SS, Medicare, etc. pension promises to people in all sorts of governments and private businesses.

    So, yes, Mr. Priss, we are in for a big crash. We’ve got something we agree on. The cause, however, is something that your constrained mind, has no way to get to the bottom of. Just clamp down more, run the bureaucracies better (hahahaaa!), that’ll do the trick, right?

    This is the big Commie/cntrl-left trick anyway, isn’t it? You hope things get completely fucked in a country due to your own people’s doings, then, when the people lose most everything including hope, you come in with “We’ve got the answer. We’re gonna regulate the ever-loving shit of you, for your own good! Power to some of us the people, brother!”

    Yeah, maybe you believe all the statist crap, Mr. Priss, but “when you point your finger cause your plans fell through, you’ve got three more fingers pointing back at you, yeah.

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    • Replies: @barndog
    Good Dire straits song but nothing Knopfler did subsequently compares to the first 2 albums. A precipitous fall from great heights.

    Whining about the "debt" shows a naive lack of understanding, you only need consider one basic fact, the scum from Jekyll Island print that green garbage from thin air. Illusory money can not create real debt.

    Sure if they ever wanted another depression, they'd start screaming that sh*t is real.

    Full Bluntal Nugity - power over your life. Speaking of underrated guitarists - the nuge killed it during that period.
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  • Only uneducated children can’t see the revolving door between the mafia and the US Government. Social media tells us these people are so intensely hated the rich have no choice but to create a police state and monitor the children as they post on the internet.

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  • @jilles dykstra
    Glancing through the article I read nothing about the euro financial crisis, also not if, but when.
    Italian banks are collapsing, a real catastrophy, compared to Greece.
    Few in Europe know that an EU law exists that makes it possible to seize all bank accounts of anyone.
    Integration in EU banking now makes it possible to do this in a matter of seconds.
    Of course this integration has been sold to us as a great benefit for us.

    Because of the dollar’s role as world reserve currency, the financial crisis Ms Prins is referring to will affect the whole world, not only the US but the EU, Russia, China, Japan etc. There is thus no specific “euro crisis”. The reason why Italian banks are now supposedly collapsing is that there is an election in Italy on 4 March and the usual US anti-EU groups are hoping (yet again!) to use the result to destroy the euro. I don’t see that umpteenth attempt being any more successful than the previous ones, particularly with Schӓuble gone and Merkel discredited. I am unaware of any “EU law” making it possible to “seize all bank accounts of anyone” and can find no trace of it in any legal database. I would assume therefore that this comment is intended as anti-EU propaganda in view of the Italian election.

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  • Another statist heard from. Mr. Priss is right in the one point, that the finances of government and private finances in America are in deep trouble. This is not something recent however. One could go back to the founding of the “Federal” “Reserve” bank back in 1913, or just 1971 or so from the abandonment of sound-money policy. The thing is, the American economy was so fundamentally strong all the way through even the 1980′s as it created wealth for America and 1/2 the rest of the world, that even with un-sound, government-created amounts of it, the US dollar could remain strong.

    Mr. Priss’s whole article is filled with his cntrl-left support of “more regulations”, “better regulations”, “yeah, run the FED better”, “go SEC, go Dodd-Frank”. It’s some idiotic thinking to believe you can make the economy better by clamping down on it with more regulation. Do you understand, Mr. Priss, that BIG FINANCE and BIG FERAL GOV go hand in hand? Are the Jamie Dimons, and all the big-money guys you rightfully deplore, gonna do worse under new regulations that they help write up? More regulation has the effect of screwing the small guy, in any business, with paperwork and threats of guys with guns shutting the place down due to any effort to “get things done without the bullshit.’

    You extoll taxpayer-supported worthless agencies like the CFPB, and next it’ll be OSHA, the CARB (just CA law, but screws over businesses across the nation). I’ve got a feeling you’ve never worked in any real job in your life, Mr. Priss, especially in a small business. Everything you and you cntrl-left buddies support is anti-small business!

    OK, that sounds contradictory, but that’s because you people don’t get one very basic point: The big money men will always do well when there’s something BIG GOV can help them with. Were the US Feral Gov not in the money business, the free market would allow any type of money that worked to be used. Our founders were pretty sure gold and silver would do the trick. Your screed here is anathema to people such as our founders and the great Andy Jackson who defeated the Central bank.

    END! THE! FED! …. by any means necessary.

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    • Replies: @renfro
    Oh for gawds sake shut up with the whacko libertarian crap .
    Like a wind up dollies all you de regulators can say is.....end the Fed! end the government!, end this! end that!

    You clearly don't understand what financial markets and banking is all about today or you'd be hollering...gimme some more regulation!"...if you had any money at stake.
    Cause cowboy....there aint no going back to the gold standard Paul days when folks paid their doctor bill with a dozen eggs and a chicken and your pal the Sherriff was the only law.
    Maybe since this is on film you will watch it and learn something.... average Americans with savings or investments and retirement account of any kind lost a third of their wealth in the 2008 crash thanks to de regulation ...all told it added up to 12.8 trillion dollars Americans lost.


    INSIDE JOB ---DOCUMENTARY

    I think you can find it for free on youtube.
    Here's a review for those not familiar. I urge everyone to watch it.

    Movie review: 'Inside Job'
    Charles Ferguson presents a clear-eyed, sobering, commendable account of how the global economic crisis developed.

    ''How did things go so horribly wrong?

    You have questions, "Inside Job" has answers. This documentary, narrated by Matt Damon, does a good job of explaining a complex story of credit and discredit. After watching Charles Ferguson's powerhouse documentary about the global economic crisis, you will more than understand what went down — you will be thunderstruck and boiling with rage.

    For this smart and confident film, thick with useful information conveyed with cinematic verve, lays out in comprehensive but always understandable detail the argument that the meltdown of 2008 was no unfortunate accident. Rather, the film posits, it was the result of an out-of-control finance industry that took unethical advantage of decades of deregulation. It's enough to make you want to keep your money in a mattress.
    Ferguson, who wrote and directed the excellent Oscar-nominated "No End in Sight," about the U.S. occupation of Iraq, is ideally positioned to deliver the kind of thorough-going, persuasive analysis that "Inside Job" provides.
    Neither a film school graduate nor an ideologue, Ferguson is rather a well-connected academic who has a doctorate in political science from MIT, was a senior fellow at the Brookings Institution and has been a consultant for high-tech firms such as Apple, Intel and Xerox.
    Those connections and that background give the film assets many documentaries lack. For one thing, it has given Ferguson access to the kind of authoritative insiders who usually don't appear on camera, including International Monetary Fund head Dominique Strauss-Kahn, French Minister of Finance Christine Lagarde and Singapore Prime Minister Lee Hsien Loong.
    Ferguson's credentials, and his sense of outrage, give him the intelligence to ask the tough questions and the willingness to do so. More than one of "Inside Job's" talking heads look seriously disconcerted when the filmmaker says things like "You can't be serious" and "Forgive me, that's clearly not true." Glenn Hubbard, dean of the Columbia University business school, is so flustered he snaps, "You have three more minutes. Give it your best shot.".....continued

    http://webcache.googleusercontent.com/search?q=cache:9NQ7GjwS3mkJ:articles.latimes.com/2010/oct/15/entertainment/la-et-inside-job-20101015+&cd=8&hl=en&ct=clnk&gl=us

    , @renfro

    . The thing is, the American economy was so fundamentally strong all the way through even the 1980′s as it created wealth for America and 1/2 the rest of the world, that even with
     
    BTW..do you live on planet earth?

    We had a depression in the early eighties ---some effects of which persisted into the early 90's.
    Interest rates ran 16%, unemployment 10%, the Saving and Loan deregulation sent S&L execs crazy with visions of riches and bad loans and caused 1000's of failures which the Federal Savings and Loan Insurance Corporation (FSLIC), which insured the deposits in failed S&Ls, had to bail out at a cost of $160 billion.
    The average cost to every taxpayer of that deregulation of S&L's was around $16,000 each.
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  • The Zionist bankers privately owned FED is the most dangerous diabolical tool that the Zionists have that is going to destroy America and this is a planned debt destruction with the laying on of unpayable debt on the backs of the American middle class, and make no mistake it is part of the plan for a Zionist NWO.

    This planned destruction began in 1913 with the Zionist central bank creation and the Zionist IRS also in 1913, with the creation of creating money out of thin air and loaning it to the government and the people at interest, when this money could be issued debt free by the government itself , but of course this would mean that the Zionist bankers would not have control over the U.S. without their FED monopoly.

    The time is coming and soon when the interest on the debt will be unpayable and the whole Ponzi scheme collapse and we will be thrust into the Zionist NWO which will maker Orwells 1984 seem like a walk in the park.

    Read THE PROTOCOLS OF ZION and the 10 planks of the COMMUNIST MANIFESTO to see what is happening to America.

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    • Replies: @Ilyana_Rozumova
    You keep continuously upsetting me. There is no such thing as THE PROTOCOLS OF ZION.
    There is such thing as PROTOCOLS OF THE ELDERS OF ZION.
    This indicates to me that you actually never read the protocols.
    I Did,
    There is nothing there except instructions what every ruling class is doing and should do.
    There was some peculiar thing there about French Jewish Doctors.
    But I do not know what it was. It was long time ago when I did read the Protocols.....
    .................................................................................................................................

    Concerning Banks you are right. All Banks should be nationilized, and so they eventually will be nationalizided.
    , @Malla
    And watch this video, Silent Weapons For Quite Wars Document.
    Man this document is scary. A must read (hear) how the globalists think about economics and how they study and manipulate populations and economies.

    https://www.youtube.com/watch?v=s_38tsQ4p0I

    Must Watch Must Watch Must Watch, the Protocols of Zion of our times.
    So you see economists convert economic systems into mechanical or electronic systems, use the science of electronics to find solutions and then reconvert them back into economic systems. All you have to know is the 'codebook' of conversion. Pretty smart.
    People who do not understand Operation Amplifiers (Electronics) can read about them here. You just need to know the basics.
    https://en.wikipedia.org/wiki/Operational_amplifier
    https://www.electronics-tutorials.ws/opamp/opamp_1.html
    Op Amps are used basically to amplify the input signal but can be used via various configurations and feedbacks loops to perform operations such as addition of input signals being one example. You get Op Amps in the market as chips.
    ReplyAgree/Disagree/Etc.
  • AAAAAAAAAAAAAAAAAA its all nothing. There is such a thing as printing of money.
    Only hyperinflation would bring down the system. So everybody can relax.

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  • Me. My dear fellow, you need not be so surprised…But how are things going up here? what is Athens about?

    Phi. Oh, nothing new; extortion, perjury, forty per cent, face-grinding.

    -Lucian of Samosata, MENIPPUS, A NECROMANTIC EXPERIMENT, ~150 AD

    http://www.sacred-texts.com/cla/luc/wl1/wl176.htm

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  • Presidents have been putting fox’s in charge of the financial hen house for centuries – I see nothing new with Trump (That is how they are selected for the voters anyway).

    What maybe changing in the years to come is the idea of the U.S. dollar as a reserve currency. Once that paper ‘man behind the curtain’ is thought to be no longer useful, it’s a house of cards for the fiat dollar.

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  • This is not going to end well. Luv ur critical and analytical style Nomi Prins. It was pretty obvious from the start back in 2007 and then 2008 . QE only added fuel too the fire and we are all heading towards a financial inferno. 600 percent over leveraged Stockmarket in 2018 as opposed to 120 percent over leveraged Stockmarket of 2007. That is one hell of a fall. It is strange that in western countries we have the largest amount of post secondary educated populace in history but not one critical ,rational or objective thinker amongst us . The largest economic gap since the Gilded age and still our fellow western humans can’t see the grass from the trees or tell the difference.
    Post Criptum : It is so true the phrase IGNORANCE IS BLISS and as we Live Mussolini’s dream of Lo Stato Corporato The Corporate State all of us in the west would not know fascism even if it they r living in it as I write.

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  • Glancing through the article I read nothing about the euro financial crisis, also not if, but when.
    Italian banks are collapsing, a real catastrophy, compared to Greece.
    Few in Europe know that an EU law exists that makes it possible to seize all bank accounts of anyone.
    Integration in EU banking now makes it possible to do this in a matter of seconds.
    Of course this integration has been sold to us as a great benefit for us.

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    • Replies: @Michael Kenny
    Because of the dollar’s role as world reserve currency, the financial crisis Ms Prins is referring to will affect the whole world, not only the US but the EU, Russia, China, Japan etc. There is thus no specific “euro crisis”. The reason why Italian banks are now supposedly collapsing is that there is an election in Italy on 4 March and the usual US anti-EU groups are hoping (yet again!) to use the result to destroy the euro. I don’t see that umpteenth attempt being any more successful than the previous ones, particularly with Schӓuble gone and Merkel discredited. I am unaware of any “EU law” making it possible to “seize all bank accounts of anyone” and can find no trace of it in any legal database. I would assume therefore that this comment is intended as anti-EU propaganda in view of the Italian election.
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  • @Greg Bacon

    They include the Federal Reserve, the Securities and Exchange Commission, the Treasury Department, the Office of the Comptroller of the Currency (an independent bureau of the Treasury), and most recently, under the Dodd-Frank Act of 2010, the Consumer Financial Protection Bureau (an independent agency funded by the Federal Reserve).
     
    These agencies are nothing more than distractions to keep the rubes occupied with a glitzy show while their Confederates pick the pockets of the marks, Americans.

    Before the 2008 crash, years before, Harry Markopolos was warning the SEC, the FBI and finally the MSM about the coming crash of Bernie Madoff's Ponzi scheme and they ALL blew him off, either too lazy to do their jobs or most likely, too crooked.

    It's interesting that the OCC was established during the Civil War, the war that Lincoln helped to finance by creating Greenbacks, instead of paying larcenous Wall Street bankers 24-36% interest. Abe must of known the banksters would try some shenanigans to force him to borrow from their greedy paws, so he had them watched.

    I'm not sure what all this current Wall Street madness is about, with DJ highs every week, but it's still a bubble and the bigger it grows, the louder and more painful will be the explosion and the SEC and FED, Treasury and OCC will be singing the same sad lie, "We didn't see it coming."

    I’d say it’s about bringing Joe-Six Pack to his knees and while he’s there they’ll have the US military running rampant around the globe serving the nation that they really serve.

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    • Replies: @ChuckOrloski
    NoseytheDuke wisely & plain spokenly said: "I’d say it’s about bringing Joe-Six Pack to his knees and while he’s there they’ll have the US military running rampant around the globe serving the nation that they really serve."

    Hi Nosey,

    Article author Nomi Prins did an outstanding job in naming the names & corresponding shady curriculum vitaes of the ZUS President Trump team, consisting of "financial arsonists."

    However, by discussing the deliberate assault upon "Joe Six-Pack" fortunes, for me, your comment brought forth the administration's unaccountsble license-to-steal into a level where US citizens (consumers!) have become a helplessly occupied nation & one divided into what a gospel presented as, "The Rich Man and Lazarus."

    In ZUS government & banking systems sum, it really is "Too Big to Fail" and Too Big to Prosecute.

    I like how you think, NoseytheDuke.

    What's more, it's nauseating how deceptive are the ZUS government & Corporate Media's presentation of rigged FACTS & STATISTICS as to how the ZUS robber (astronomic debt-fueled) economy is faring.

    FYI, Nosey, I like reading Conan Doyle's "Adventures of Sherlock Holmes" where one can gain insight into the minds of sharp criminal thieves. In short story "The Boscombe Valley Mystery," with a chuckle, Holmes addressed Watson and said, "There is nothing more deceptive than an obvious fact."

    Joe Six-Packs are always the part thrown away. And as Nomi Prins ended this good article, "... then of course, there’s another crash, millions suffer, and remorse returns." (Zigh)

    Will the circle of deceit be forever unbroken?

    Our Federal Reserve institutionalized government robbery is protected by invincible military neatness including it's "on call" offensive intervention servive, except of course where needed, i.e., the bandit D.C. regime. W.T.F.? Lies are brighter than truth, and, it's exactly how you pegged, Nosey, "... they’ll have the US military running rampant around the globe serving the nation that they really serve."

    Thanks.

    Selah, wise arsonists will heavily insure things prior to incineration.
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  • The absurdity of the attainment of value to realities that seven dimensions of physics cannot capture.

    Fiction, as in short-story writing, then “the banking system” is the novel, economic theory the Torah and Bible, the Koran as convenient. Banking has it’s own cryptic language, complexity as in chaos, then of course the higher layers of commenting require ex-bankers, ex-employees, to narrate linearly the story of the psychological attraction to alchemistic wealth creating.

    Non-fiction?!, then adding another layer to the real would only point to knowingly being complicit. Adhering to the script would then not break the magic of “the good and the bad”, the believe in the book of Economics. The respect for the priests celebrating mass, the rabbi putting his five cents, whatever the value at the time of declamation seems normative.

    The core of finance, is not even anchored in the energy expenditure of digital currencies, an algorithm that can be broken, a key and random seeds, but in the hands of a few old wary men of minority descend that throw the magical mist of mister sandman. It takes cranks to cater to the preposition.

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  • They include the Federal Reserve, the Securities and Exchange Commission, the Treasury Department, the Office of the Comptroller of the Currency (an independent bureau of the Treasury), and most recently, under the Dodd-Frank Act of 2010, the Consumer Financial Protection Bureau (an independent agency funded by the Federal Reserve).

    These agencies are nothing more than distractions to keep the rubes occupied with a glitzy show while their Confederates pick the pockets of the marks, Americans.

    Before the 2008 crash, years before, Harry Markopolos was warning the SEC, the FBI and finally the MSM about the coming crash of Bernie Madoff’s Ponzi scheme and they ALL blew him off, either too lazy to do their jobs or most likely, too crooked.

    It’s interesting that the OCC was established during the Civil War, the war that Lincoln helped to finance by creating Greenbacks, instead of paying larcenous Wall Street bankers 24-36% interest. Abe must of known the banksters would try some shenanigans to force him to borrow from their greedy paws, so he had them watched.

    I’m not sure what all this current Wall Street madness is about, with DJ highs every week, but it’s still a bubble and the bigger it grows, the louder and more painful will be the explosion and the SEC and FED, Treasury and OCC will be singing the same sad lie, “We didn’t see it coming.”

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    • Replies: @NoseytheDuke
    I'd say it's about bringing Joe-Six Pack to his knees and while he's there they'll have the US military running rampant around the globe serving the nation that they really serve.
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  • In discussing this week’s Grenfell Tower tragedy in London, the British politician David Lammy has resorted to coruscating language. The inferno, he says, was a case of “corporate manslaughter.” Although he has not been specific about who he is accusing, several entities evidently have a lot of explaining to do. This includes most obviously the...
  • @NoldorElf
    IF that were the main reason, there would be no export deficits.

    There would be:

    1. Balanced trade
    2. HIgh levels of capital investment (US corporations are not spending, but hoarding cash)
    3. A positive correlation between productivity and unemployment (the data shows the opposite)


    Somehow Germany and Japan, as Fingleton in his other articles have documented, maintain export surpluses. I would recommend reading Fingleton as he is an expert in this field.

    I'm skeptical about automation taking out most jobs.

    “I’m skeptical about automation taking out most jobs.”

    Sure, it will only take out the manual labour currently being done with low-skilled, cheap labour, both home-grown and imported, freeing them up to be even more fecund than they are now. Sounds like a recipe for success to me.

    Interesting to see the first-world flip over into the third-world in mere decades.

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  • “As several British commentators have pointed out, all the evidence is that had the building been run and maintained in the way that was originally intended (with borough council officials maintaining a hands-on approach), the disaster would probably never have happened. ”

    That is extremely hard to believe. For it to be true the councils who were grossly negligent would have had to suddenly become non-negligent just because they didn’t have an intermediary. Why would this be so? They ignored their own regulations over and over again, why would putting them in direct control improve things?

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  • @Anon
    "More recently another aspect of deregulation that has come in for widespread denunciation has been so-called zero-hours contracts. Under such contracts, employers are not required to guarantee workers any minimum number of working hours. Many critics consider the concept to have gutted workers’ bargaining power."

    Zero hours contracts have been around for decades, working perfectly well, as they still do for skilled workers where demand exceeds supply. For example, many IT contractors are effectively on zero hours, in that when the work is finished, the company have the right to release the contractors before the contract expires. "Bank nurses" can pick and choose the hours they work, without fear that the NHS won't call again if they turn down some work.

    The huge difference between the situation now and in, say, 1974, is that there's now an almost infinite supply of low-skilled workers, thanks to the EU accession of Poland, Romania etc. In many factories or warehouses there's a two-tier workforce - people who were employed before 2005, on full time contracts and generally paid above minimum wage - then the more recent "employeees", provided by an agency and on minimum-wage zero hours contracts.

    The gutting of worker bargaining power is a supply and demand issue - the numbers on zero hours are a symptom, not a cause. Those like the Guardian who weep crocodile tears over ZHCs are the same people who want effectively open borders.

    Last time around, the Black Plague (if we may still call it that) solved the labour supply/demand problem, and that led to nearly 700 years of increasing liberty and self-determination in the English-speaking world. Let’s hope it doesn’t take a similar pest, brought in no doubt by our highly prized migrants, as so many of these once controlled or eradicated diseases have been lately, for the common folk to get back some of the power they have lost in the last few decades.

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  • These would be the same civil servants who have made the NHS such a raging success. Good luck with that!

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  • Further study shows that it was EU safety regs combined with the environmental regs. You have this entirely backwards.

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  • The MSM have decided that the local council is to blame, as is Theresa May. But the London mayor is not. Somewhat unusually the chain of command and responsibility has managed to leapfrog a whole tier of government.

    This is nothing to do with the mayor being a swarthy Muslim. Nothing at all.

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    • Agree: Dan Hayes
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  • @Mark F.
    America produced more manufactured goods last year than ever. But with far fewer people due to automation. That's the main reason manufacturing jobs are in decline.

    IF that were the main reason, there would be no export deficits.

    There would be:

    1. Balanced trade
    2. HIgh levels of capital investment (US corporations are not spending, but hoarding cash)
    3. A positive correlation between productivity and unemployment (the data shows the opposite)

    Somehow Germany and Japan, as Fingleton in his other articles have documented, maintain export surpluses. I would recommend reading Fingleton as he is an expert in this field.

    I’m skeptical about automation taking out most jobs.

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    • Replies: @The Alarmist

    "I’m skeptical about automation taking out most jobs."
     
    Sure, it will only take out the manual labour currently being done with low-skilled, cheap labour, both home-grown and imported, freeing them up to be even more fecund than they are now. Sounds like a recipe for success to me.

    Interesting to see the first-world flip over into the third-world in mere decades.

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  • Many in the world will rethink WTC towers, especially tower 7.

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  • @Logan
    If a 20 pound baby falls 100 feet, it's going about 55 mph by the time it reaches ground level, and generates roughly 1900 foot-pounds of force.

    Thanks Logan. None of the current Lions crew, still less Gatland’s recent locally-based call-ups, could make that pass. Maybe an All-Black?

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  • @Anon
    "More recently another aspect of deregulation that has come in for widespread denunciation has been so-called zero-hours contracts. Under such contracts, employers are not required to guarantee workers any minimum number of working hours. Many critics consider the concept to have gutted workers’ bargaining power."

    Zero hours contracts have been around for decades, working perfectly well, as they still do for skilled workers where demand exceeds supply. For example, many IT contractors are effectively on zero hours, in that when the work is finished, the company have the right to release the contractors before the contract expires. "Bank nurses" can pick and choose the hours they work, without fear that the NHS won't call again if they turn down some work.

    The huge difference between the situation now and in, say, 1974, is that there's now an almost infinite supply of low-skilled workers, thanks to the EU accession of Poland, Romania etc. In many factories or warehouses there's a two-tier workforce - people who were employed before 2005, on full time contracts and generally paid above minimum wage - then the more recent "employeees", provided by an agency and on minimum-wage zero hours contracts.

    The gutting of worker bargaining power is a supply and demand issue - the numbers on zero hours are a symptom, not a cause. Those like the Guardian who weep crocodile tears over ZHCs are the same people who want effectively open borders.

    Those Accession-country peons are as a consequence of their (locally) pitiful pay, thrust squarely into the Working Tax Credits zone. Bring the family, claim for the lot. Claim the rent. NHS treatment for grandma. Even better, let them stay home and just claim for the kids. If you don’t have any, just invent some.

    16 hrs a week playing at some notional private enterprise “self-employed” set-up will pull in a good wedge, and more importantly, a whole raft of benefits provided you can demonstrate dependents. So we get car-washing by hand, hairdressing, tailoring and alterations, nailbars, and mini-cab driving.

    Any savings one makes living temporarily and illegally crammed into a local authority semi or (dare I say it) towerblock flat, hot bedding, or two families to a room, go a long, long way to an early and wealthy retirement in Transylvania. Or Togo. With maybe a couple of extra girlfriends or even wives. Whose many, many uncontraceptived children will be motivated to make a similar fortune … guess where?

    Meanwhile the same setup won’t even keep the local Brits in oven-chips and lager. They have to pay London prices for everything, all their lives, and eventually die in poverty (homeless, of course). Probably unable to “afford” a family at all.

    Well done ‘British’ Business! Almost all the costs of your non-corporation-tax-paying rackets, including the wages have been palmed off on the working, PAYE, IR35-paying public. Enjoy your private islands and yachts. This can go on forever, obviously …

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  • @TWS
    Wasn't this caused by green regulation? Putting a flammable cladding on the building to save energy? Regulations are to blame. When will you look up at the fields of crosses blighting your landscape and realize your windfarms do nothing but kill birds? Does the cult of Gaia know no bounds?

    Not directly. As there are non-flammable claddings with similar insulation characteristics that could have been used. And probably even the “flammable” material could have been used safely if properly installed.

    However, you point out a real problem. When I used to teach classes about how to deal with water-damaged buildings, I would point out that some new materials and assemblies that were going up for “energy conservation” reasons would react less well to getting wet.

    A common response was, “So you’re in favor of wasting energy and killing the planet!”

    Facepalm.

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  • @El Dato
    Frankly I don't see where "deregulation" comes into this at all.

    Like, at all.

    Bad cladding practice, bad regulation regarding cladding practice, silly, possibly corrupt acquisition of inappropriate cladding, and non-enforcement of fire regulations, yes.

    But deregulation?

    Might as well be aliens.

    Actually, mostly is (though I don't debase myself in cheering the death tool as some commenteros are wont to do)

    Now, how come this doesn't happen in France where "HLMs" are the urban blight of the "banlieues", as well as sources of cultural enrichment?

    Deregulation, if it means anything, presumably refers to a smaller number of regulations.

    Being opposed to deregulation, therefore, seems to mean being in favor of a larger number of regulations.

    But when it comes to safety the issue is simply not the number of regulations, it’s whether they are the right regulations.

    I’ll go out on a limb here and state that this tragedy was the result of one or more factors. None of which have anything at all to do with the number of regulations existing.

    1. Regulations were inadequate or just wrong. Possibly because the “greenness” of a material was inappropriately privileged over its fire safety.

    2. Regulations were not followed, whether in using the wrong material or in not installing it properly.

    3. Tying in with 2, regulations were not properly inspected nor enforced.

    Increasing the number of regulations will simply not prevent another such disaster. The solution is to have the right (not necessarily more) regulations, and then enforce them properly.

    Fewer, but well chosen and strictly enforced, regulations are infinitely preferable to more but less well enforced regulations.

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  • @Expletive Deleted
    Oh I see. The Daily Mail strikes again.

    Grenfell Tower fire is believed to have started shortly before 1am when a fridge on the seventh floor exploded. Samira Lamrini said: 'The man whose flat it was came out and said it was his flat. He was a slim, tall, white British man.
    'He was pointing at the fire on a lower floor and said, 'That's my flat, that's it'. He said it was his fridge that had exploded.
    'He started filming it on his phone. He was upset but I don't think he had a clue about the scale of what was happening.
    'After that the fire went up in minutes, it was so fast. The speed with which it took hold was terrifying. It was like a tissue being set alight. It just went whoosh, so quickly. I didn't see him after that.' (Daily Mail 15/06/2017).
     

    'People have lost their lives. I can't bear it': Ethiopian taxi driver whose faulty fridge started the inferno' says he'll 'never get over' how many were killed. Behailu Kebede raised the alarm as the Grenfell Tower inferno began to spread, his neighbours have said. Father of one, a taxi driver from Ethiopia,discovered the fire in his fourth floor kitchen ahead of blaze.Tower block resident Maryam Adam said he knocked on her door to warn her at 12.50am on Tuesday night. (Daily Mail 16/06/2017).
     
    Ms Lamrani (who seems to be Moroccan, and therefore reasonably aware of the subtle differences between Ethiopians and Brits) is also, surprise surprise, the source of the flying baby story, among other tales.

    Lamrini then said she saw a woman from a ninth or tenth story window with a baby.
    The woman signaled she was going to drop the child to those below, crying out "I'm about to throw my baby. Please catch the baby!" according to Lamrani.
    Moments later, she did.
    A man ran from the crowd of witnesses to catch the falling child. He then took the child to safety.
    Lamrani calls it was a "miraculous" rescue.
     

    If a 20 pound baby falls 100 feet, it’s going about 55 mph by the time it reaches ground level, and generates roughly 1900 foot-pounds of force.

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    • Replies: @Expletive Deleted
    Thanks Logan. None of the current Lions crew, still less Gatland's recent locally-based call-ups, could make that pass. Maybe an All-Black?
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  • Anon • Disclaimer says:

    “More recently another aspect of deregulation that has come in for widespread denunciation has been so-called zero-hours contracts. Under such contracts, employers are not required to guarantee workers any minimum number of working hours. Many critics consider the concept to have gutted workers’ bargaining power.”

    Zero hours contracts have been around for decades, working perfectly well, as they still do for skilled workers where demand exceeds supply. For example, many IT contractors are effectively on zero hours, in that when the work is finished, the company have the right to release the contractors before the contract expires. “Bank nurses” can pick and choose the hours they work, without fear that the NHS won’t call again if they turn down some work.

    The huge difference between the situation now and in, say, 1974, is that there’s now an almost infinite supply of low-skilled workers, thanks to the EU accession of Poland, Romania etc. In many factories or warehouses there’s a two-tier workforce – people who were employed before 2005, on full time contracts and generally paid above minimum wage – then the more recent “employeees”, provided by an agency and on minimum-wage zero hours contracts.

    The gutting of worker bargaining power is a supply and demand issue – the numbers on zero hours are a symptom, not a cause. Those like the Guardian who weep crocodile tears over ZHCs are the same people who want effectively open borders.

    Read More
    • Replies: @Expletive Deleted
    Those Accession-country peons are as a consequence of their (locally) pitiful pay, thrust squarely into the Working Tax Credits zone. Bring the family, claim for the lot. Claim the rent. NHS treatment for grandma. Even better, let them stay home and just claim for the kids. If you don't have any, just invent some.

    16 hrs a week playing at some notional private enterprise "self-employed" set-up will pull in a good wedge, and more importantly, a whole raft of benefits provided you can demonstrate dependents. So we get car-washing by hand, hairdressing, tailoring and alterations, nailbars, and mini-cab driving.

    Any savings one makes living temporarily and illegally crammed into a local authority semi or (dare I say it) towerblock flat, hot bedding, or two families to a room, go a long, long way to an early and wealthy retirement in Transylvania. Or Togo. With maybe a couple of extra girlfriends or even wives. Whose many, many uncontraceptived children will be motivated to make a similar fortune ... guess where?

    Meanwhile the same setup won't even keep the local Brits in oven-chips and lager. They have to pay London prices for everything, all their lives, and eventually die in poverty (homeless, of course). Probably unable to "afford" a family at all.

    Well done 'British' Business! Almost all the costs of your non-corporation-tax-paying rackets, including the wages have been palmed off on the working, PAYE, IR35-paying public. Enjoy your private islands and yachts. This can go on forever, obviously ...

    , @The Alarmist
    Last time around, the Black Plague (if we may still call it that) solved the labour supply/demand problem, and that led to nearly 700 years of increasing liberty and self-determination in the English-speaking world. Let's hope it doesn't take a similar pest, brought in no doubt by our highly prized migrants, as so many of these once controlled or eradicated diseases have been lately, for the common folk to get back some of the power they have lost in the last few decades.
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  • anonymous • Disclaimer says:
    @epnngg
    On a side note...I couldn't help but notice that despite the totally engulfed high rise, the structure did remain standing. Compare that to the Twin Towers and especially Building 7 that had a "furniture fire" burning on its upper floors collapsing rapidly into their own footprints after only a few hours of fire. Odd.

    Odd, indeed.

    So odd, that the original 2006 Presidential Commission Report on the 9/11 disaster had not one word about the collapse of Building 7.

    (A half-assed 2007 addendum, subsequently rushed out to quell the resulting shitstorm of criticism, made a feeble attempt to explain 7′s collapse in innocuous terms.)

    But, there you go. Noticing things.

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  • @NoldorElf
    Let's face it, these neoliberals and neoconservatives have sold people a bill of goods:

    - First they send manufacturing overseas. I'll note that nati0ns like Germany, who were smarter about the economic policy still have manufacturing. Fingleton is an expert on Japan, so he can speak to that better than I can. They have a manufacturing sector, hint, hint.

    Free trade is also responsible for other problems, such as the illegal immigration crisis. NAFTA bankrupted a lot of Mexican farmers and effectively halted wage growth in Mexico.

    - Second they deregulate the banking sector. The 2008 Financial Crisis is their fault. Disgracefully nobody was sent to jail over them.

    - Third, all these needless wars. They make the defense industry rich. They sure as hell have not made the world a safer place. Quite the opposite. ISIS is their fault. The Unz review has a pretty extensive set of articles describing this situation.

    - Fourth, their other policies of privatizing everything and deregulating everything have led to this crisis. This fire is an example of the consequences.

    There is an alarming similarity between this and the 19th century, where the rich ruthlessly exploited the poor. It looks like the elite have looted society in their greed.

    Eamonn Fingleton points out some very important facts about how messed up this whole situation is.

    America produced more manufactured goods last year than ever. But with far fewer people due to automation. That’s the main reason manufacturing jobs are in decline.

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    • Replies: @NoldorElf
    IF that were the main reason, there would be no export deficits.

    There would be:

    1. Balanced trade
    2. HIgh levels of capital investment (US corporations are not spending, but hoarding cash)
    3. A positive correlation between productivity and unemployment (the data shows the opposite)


    Somehow Germany and Japan, as Fingleton in his other articles have documented, maintain export surpluses. I would recommend reading Fingleton as he is an expert in this field.

    I'm skeptical about automation taking out most jobs.

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  • Let’s face it, these neoliberals and neoconservatives have sold people a bill of goods:

    - First they send manufacturing overseas. I’ll note that nati0ns like Germany, who were smarter about the economic policy still have manufacturing. Fingleton is an expert on Japan, so he can speak to that better than I can. They have a manufacturing sector, hint, hint.

    Free trade is also responsible for other problems, such as the illegal immigration crisis. NAFTA bankrupted a lot of Mexican farmers and effectively halted wage growth in Mexico.

    - Second they deregulate the banking sector. The 2008 Financial Crisis is their fault. Disgracefully nobody was sent to jail over them.

    - Third, all these needless wars. They make the defense industry rich. They sure as hell have not made the world a safer place. Quite the opposite. ISIS is their fault. The Unz review has a pretty extensive set of articles describing this situation.

    - Fourth, their other policies of privatizing everything and deregulating everything have led to this crisis. This fire is an example of the consequences.

    There is an alarming similarity between this and the 19th century, where the rich ruthlessly exploited the poor. It looks like the elite have looted society in their greed.

    Eamonn Fingleton points out some very important facts about how messed up this whole situation is.

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    • Replies: @Mark F.
    America produced more manufactured goods last year than ever. But with far fewer people due to automation. That's the main reason manufacturing jobs are in decline.
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  • @El Dato
    Frankly I don't see where "deregulation" comes into this at all.

    Like, at all.

    Bad cladding practice, bad regulation regarding cladding practice, silly, possibly corrupt acquisition of inappropriate cladding, and non-enforcement of fire regulations, yes.

    But deregulation?

    Might as well be aliens.

    Actually, mostly is (though I don't debase myself in cheering the death tool as some commenteros are wont to do)

    Now, how come this doesn't happen in France where "HLMs" are the urban blight of the "banlieues", as well as sources of cultural enrichment?

    “Frankly I don’t see where “deregulation” comes into this at all.”

    Well, I do.– Deregulation of immigration that is.

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  • @Expletive Deleted

    A white man in whose kitchen the fire started (allegedly because of a fridge which is possible) is said to have had his clothes packed and moved out of his flat into the hall, before he informed the neighbors.
     
    The man who allegedly (since we have only the neighbour woman's account for this) watched his fridge combust, and then diligently packed his gear and thoughtfully woke up said neighbour as he headed for the stairs was Mr Behailu Kebedi, an Ethiopian taxi driver of a most un-white countenance. And it's been all over the papers since day one. So I don't know where you got that little tidbit from.

    There are all sorts of unlikely tales swirling around the tower, such as the unnamed man catching a mystery baby tossed from 10th floor (in the dark and smoke? What is the likely trajectory and terminal velocity, at sea-level, of a healthy infant? Do not attempt to write on both sides of the paper at once).
    I also heard two women on the radio claim that they were starting a collection for the inhabitants because the entire building was occupied by people from a single town, their hometown, in Morocco. It may well have seemed like that to them, I dunno.

    The baby would have been going too fast to survive the deceleration, and I never believed it, Thanks for the clarifications inc about the baby story coming from the same person who identified as a tall white man as the fire starter.

    Ms Adam is with child, and in certain cultures a pregnant woman is believed to have the power of the Evil Eye. Adam, (the neighbour) was quite clear that after she was informed she looked in his flat, seeing there was already a fire in the man’s kitchen, yet he had already taken time to pack clothes ect because she saw them in the hall outside his door

    It would be a very unusual person to go out the kitchen, where a fire was (unpredictably) developing and filling the place with smoke , and into the bedroom to take the appreciable amount of time to pack luggage. Dubious.

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  • I did Jury Service a couple of years ago and the defendant (Sexual Abuse case) was a Moroccan who was living here illegally. I seemed to be the only person who was surprised that he had been here twenty years.

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  • @Expletive Deleted
    I lived on the top floor, coincidentally the 14th, of a block in a notoriously grim estate from '86 to '93.
    Ancient, probably 1940s gas cooker, acquired from where I don't remember. All the flats had North Sea gas, which was a blessing as the electric underfloor heating (just resistance wires cast into the floorslabs I think, or something equally primitive) was unusable due to the cost. Built in the days when nuclear was going to make the leccy "too cheap to meter".
    You could fill the oven with bricks and use the heavy iron monster of a stove to keep warm.
    Less active people (single mums with a handful of children, oldsters, and alcoholics/druggies downstairs) used SuperSer type butane canister (I think 13kg?) heaters or tall Aladdin-type paraffin (kerosene) things (which worried even me at the time).
    The building reeked like a trawler. The lifts (elevators) were off as often as not, and the stair was narrow, windowless and almost a spiral.
    The Council seemed think this was all fine and dandy. Otherwise they'd have had to rehouse all the paupers in buildings where they had a chance of surviving the winter without their (painfully saved up for and purchased) gas and paraffin deathtraps. Quite a few had had the electric cut off for debt, and the card meters ripped through their allowance in no time, being on a premium rate.

    As I wrote elsewhere, there are still Councils which try to apply 1st World standards, and others which don’t. The nearer to London, the more the latter predominate.

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  • Frankly I don’t see where “deregulation” comes into this at all.

    Like, at all.

    Bad cladding practice, bad regulation regarding cladding practice, silly, possibly corrupt acquisition of inappropriate cladding, and non-enforcement of fire regulations, yes.

    But deregulation?

    Might as well be aliens.

    Actually, mostly is (though I don’t debase myself in cheering the death tool as some commenteros are wont to do)

    Now, how come this doesn’t happen in France where “HLMs” are the urban blight of the “banlieues”, as well as sources of cultural enrichment?

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    • Agree: TWS
    • Replies: @Jim Bob Lassiter
    "Frankly I don’t see where “deregulation” comes into this at all."

    Well, I do.-- Deregulation of immigration that is.
    , @Logan
    Deregulation, if it means anything, presumably refers to a smaller number of regulations.

    Being opposed to deregulation, therefore, seems to mean being in favor of a larger number of regulations.

    But when it comes to safety the issue is simply not the number of regulations, it's whether they are the right regulations.

    I'll go out on a limb here and state that this tragedy was the result of one or more factors. None of which have anything at all to do with the number of regulations existing.

    1. Regulations were inadequate or just wrong. Possibly because the "greenness" of a material was inappropriately privileged over its fire safety.

    2. Regulations were not followed, whether in using the wrong material or in not installing it properly.

    3. Tying in with 2, regulations were not properly inspected nor enforced.

    Increasing the number of regulations will simply not prevent another such disaster. The solution is to have the right (not necessarily more) regulations, and then enforce them properly.

    Fewer, but well chosen and strictly enforced, regulations are infinitely preferable to more but less well enforced regulations.
    ReplyAgree/Disagree/Etc.
  • @Expletive Deleted

    A white man in whose kitchen the fire started (allegedly because of a fridge which is possible) is said to have had his clothes packed and moved out of his flat into the hall, before he informed the neighbors.
     
    The man who allegedly (since we have only the neighbour woman's account for this) watched his fridge combust, and then diligently packed his gear and thoughtfully woke up said neighbour as he headed for the stairs was Mr Behailu Kebedi, an Ethiopian taxi driver of a most un-white countenance. And it's been all over the papers since day one. So I don't know where you got that little tidbit from.

    There are all sorts of unlikely tales swirling around the tower, such as the unnamed man catching a mystery baby tossed from 10th floor (in the dark and smoke? What is the likely trajectory and terminal velocity, at sea-level, of a healthy infant? Do not attempt to write on both sides of the paper at once).
    I also heard two women on the radio claim that they were starting a collection for the inhabitants because the entire building was occupied by people from a single town, their hometown, in Morocco. It may well have seemed like that to them, I dunno.

    Oh I see. The Daily Mail strikes again.

    Grenfell Tower fire is believed to have started shortly before 1am when a fridge on the seventh floor exploded. Samira Lamrini said: ‘The man whose flat it was came out and said it was his flat. He was a slim, tall, white British man.
    ‘He was pointing at the fire on a lower floor and said, ‘That’s my flat, that’s it’. He said it was his fridge that had exploded.
    ‘He started filming it on his phone. He was upset but I don’t think he had a clue about the scale of what was happening.
    ‘After that the fire went up in minutes, it was so fast. The speed with which it took hold was terrifying. It was like a tissue being set alight. It just went whoosh, so quickly. I didn’t see him after that.’ (Daily Mail 15/06/2017).

    ‘People have lost their lives. I can’t bear it’: Ethiopian taxi driver whose faulty fridge started the inferno’ says he’ll ‘never get over’ how many were killed. Behailu Kebede raised the alarm as the Grenfell Tower inferno began to spread, his neighbours have said. Father of one, a taxi driver from Ethiopia,discovered the fire in his fourth floor kitchen ahead of blaze.Tower block resident Maryam Adam said he knocked on her door to warn her at 12.50am on Tuesday night. (Daily Mail 16/06/2017).

    Ms Lamrani (who seems to be Moroccan, and therefore reasonably aware of the subtle differences between Ethiopians and Brits) is also, surprise surprise, the source of the flying baby story, among other tales.

    Lamrini then said she saw a woman from a ninth or tenth story window with a baby.
    The woman signaled she was going to drop the child to those below, crying out “I’m about to throw my baby. Please catch the baby!” according to Lamrani.
    Moments later, she did.
    A man ran from the crowd of witnesses to catch the falling child. He then took the child to safety.
    Lamrani calls it was a “miraculous” rescue.

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    • Replies: @Logan
    If a 20 pound baby falls 100 feet, it's going about 55 mph by the time it reaches ground level, and generates roughly 1900 foot-pounds of force.
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  • @Verymuchalive
    I had the misfortune to live in a British High Rise for a short period. The Council was strict but sensible. Only buildings of 5 storeys or less were permitted to have mains gas. I lived on the third floor, but as it was a 14 storey block, I could only have electricity.
    Portable propane and similar were absolutely verboten. They could and did evict people for this practice.
    I would be grateful if you could direct me to the source of this story.

    I lived on the top floor, coincidentally the 14th, of a block in a notoriously grim estate from ’86 to ’93.
    Ancient, probably 1940s gas cooker, acquired from where I don’t remember. All the flats had North Sea gas, which was a blessing as the electric underfloor heating (just resistance wires cast into the floorslabs I think, or something equally primitive) was unusable due to the cost. Built in the days when nuclear was going to make the leccy “too cheap to meter”.
    You could fill the oven with bricks and use the heavy iron monster of a stove to keep warm.
    Less active people (single mums with a handful of children, oldsters, and alcoholics/druggies downstairs) used SuperSer type butane canister (I think 13kg?) heaters or tall Aladdin-type paraffin (kerosene) things (which worried even me at the time).
    The building reeked like a trawler. The lifts (elevators) were off as often as not, and the stair was narrow, windowless and almost a spiral.
    The Council seemed think this was all fine and dandy. Otherwise they’d have had to rehouse all the paupers in buildings where they had a chance of surviving the winter without their (painfully saved up for and purchased) gas and paraffin deathtraps. Quite a few had had the electric cut off for debt, and the card meters ripped through their allowance in no time, being on a premium rate.

    Read More
    • Replies: @Verymuchalive
    As I wrote elsewhere, there are still Councils which try to apply 1st World standards, and others which don't. The nearer to London, the more the latter predominate.
    ReplyAgree/Disagree/Etc.
  • @Sean
    Stuffed full of people who would have the right to buy and resell after a few years and trouser several hundred grand or more. Third Worlders having being given a massive gift like that had every the long standing advice to stay inside flats during a conflagration in the building. Some were ordered back inside by the firemen, and they obeyed.

    One person made sure he got out, but he may have quite a while to think it through. A white man in whose kitchen the fire started (allegedly because of a fridge which is possible) is said to have had his clothes packed and moved out of his flat into the hall, before he informed the neighbors. The neighbour saw the luggage in the hall and the fire in his kitchen. So the fire likely started (or was started) quite a while before the alarm was raised. The man also behaved oddly outside. Yeah he got out with his stuff in plenty of time. He should get serious time in gaol.

    The dry rise pipework (enabling the fire brigade to use hoses on any, even the topmost, floor may have had the valves stolen for scrap value.

    I agree about deregulation.

    A white man in whose kitchen the fire started (allegedly because of a fridge which is possible) is said to have had his clothes packed and moved out of his flat into the hall, before he informed the neighbors.

    The man who allegedly (since we have only the neighbour woman’s account for this) watched his fridge combust, and then diligently packed his gear and thoughtfully woke up said neighbour as he headed for the stairs was Mr Behailu Kebedi, an Ethiopian taxi driver of a most un-white countenance. And it’s been all over the papers since day one. So I don’t know where you got that little tidbit from.

    There are all sorts of unlikely tales swirling around the tower, such as the unnamed man catching a mystery baby tossed from 10th floor (in the dark and smoke? What is the likely trajectory and terminal velocity, at sea-level, of a healthy infant? Do not attempt to write on both sides of the paper at once).
    I also heard two women on the radio claim that they were starting a collection for the inhabitants because the entire building was occupied by people from a single town, their hometown, in Morocco. It may well have seemed like that to them, I dunno.

    Read More
    • Replies: @Expletive Deleted
    Oh I see. The Daily Mail strikes again.

    Grenfell Tower fire is believed to have started shortly before 1am when a fridge on the seventh floor exploded. Samira Lamrini said: 'The man whose flat it was came out and said it was his flat. He was a slim, tall, white British man.
    'He was pointing at the fire on a lower floor and said, 'That's my flat, that's it'. He said it was his fridge that had exploded.
    'He started filming it on his phone. He was upset but I don't think he had a clue about the scale of what was happening.
    'After that the fire went up in minutes, it was so fast. The speed with which it took hold was terrifying. It was like a tissue being set alight. It just went whoosh, so quickly. I didn't see him after that.' (Daily Mail 15/06/2017).
     

    'People have lost their lives. I can't bear it': Ethiopian taxi driver whose faulty fridge started the inferno' says he'll 'never get over' how many were killed. Behailu Kebede raised the alarm as the Grenfell Tower inferno began to spread, his neighbours have said. Father of one, a taxi driver from Ethiopia,discovered the fire in his fourth floor kitchen ahead of blaze.Tower block resident Maryam Adam said he knocked on her door to warn her at 12.50am on Tuesday night. (Daily Mail 16/06/2017).
     
    Ms Lamrani (who seems to be Moroccan, and therefore reasonably aware of the subtle differences between Ethiopians and Brits) is also, surprise surprise, the source of the flying baby story, among other tales.

    Lamrini then said she saw a woman from a ninth or tenth story window with a baby.
    The woman signaled she was going to drop the child to those below, crying out "I'm about to throw my baby. Please catch the baby!" according to Lamrani.
    Moments later, she did.
    A man ran from the crowd of witnesses to catch the falling child. He then took the child to safety.
    Lamrani calls it was a "miraculous" rescue.
     
    , @Sean
    The baby would have been going too fast to survive the deceleration, and I never believed it, Thanks for the clarifications inc about the baby story coming from the same person who identified as a tall white man as the fire starter.

    Ms Adam is with child, and in certain cultures a pregnant woman is believed to have the power of the Evil Eye. Adam, (the neighbour) was quite clear that after she was informed she looked in his flat, seeing there was already a fire in the man's kitchen, yet he had already taken time to pack clothes ect because she saw them in the hall outside his door

    It would be a very unusual person to go out the kitchen, where a fire was (unpredictably) developing and filling the place with smoke , and into the bedroom to take the appreciable amount of time to pack luggage. Dubious.

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  • @The Anti-Gnostic
    The building was clad in aluminum and polyethylene composite, and residents reported blue flame in units. This has been widely reported and you can do your own homework. So you get two phenomena that, among other lapses, turn a unit fire into The Towering Inferno: the cladding chimneys hot gases up the side of the building before combusting itself, and small propane bombs go off in individual units.

    Fundamentally of course, the local government which owned and managed this monument to Peak Social Democracy had no pricing signals and no profit-and-loss discipline and therefore no incentive to bring this relic up to current industry standards.

    I do hope the Inquiry gets to the bottom of this question and doesn’t whitewash it out of existence.
    Mark Steyn reckons that there may have been as many as 600 people living in Grenfell Tower ( 120 flats of 1 or 2 bedrooms ) If you think 200 bedrooms, that’s 3 persons per bedroom. See https://www.steynonline.com/7921/the-great-fire-of-a-new-london
    The High Rise in which I briefly lived is in part of Britain where the number of 3rd World immigrants is low. The Local Authority, even with anti-social tenants, tries to maintain 1st World standards. It is committed to demolishing all its High Rises.

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  • @Corvinus
    "There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable “green” cladding, and stuffed full of Third World tax-eaters with portable propane stoves."

    Sources or retract.

    The building was clad in aluminum and polyethylene composite, and residents reported blue flame in units. This has been widely reported and you can do your own homework. So you get two phenomena that, among other lapses, turn a unit fire into The Towering Inferno: the cladding chimneys hot gases up the side of the building before combusting itself, and small propane bombs go off in individual units.

    Fundamentally of course, the local government which owned and managed this monument to Peak Social Democracy had no pricing signals and no profit-and-loss discipline and therefore no incentive to bring this relic up to current industry standards.

    Read More
    • Replies: @Verymuchalive
    I do hope the Inquiry gets to the bottom of this question and doesn't whitewash it out of existence.
    Mark Steyn reckons that there may have been as many as 600 people living in Grenfell Tower ( 120 flats of 1 or 2 bedrooms ) If you think 200 bedrooms, that's 3 persons per bedroom. See https://www.steynonline.com/7921/the-great-fire-of-a-new-london
    The High Rise in which I briefly lived is in part of Britain where the number of 3rd World immigrants is low. The Local Authority, even with anti-social tenants, tries to maintain 1st World standards. It is committed to demolishing all its High Rises.
    ReplyAgree/Disagree/Etc.
  • @Anonymous
    An estimate of how much this fire will save in tax revenues would be a nice number to have. Just sayin'

    An estimate of how much this fire will save in tax revenues would be a nice number to have. Just sayin’

    If not the British people, at least the British buildings are doing their best to resist the third world horde. Brings a tear to the eye, it does.

    Some mood music for the occasion:

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  • @The Anti-Gnostic
    There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable "green" cladding, and stuffed full of Third World tax-eaters with portable propane stoves.

    “There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable “green” cladding, and stuffed full of Third World tax-eaters with portable propane stoves.”

    Sources or retract.

    Read More
    • Replies: @The Anti-Gnostic
    The building was clad in aluminum and polyethylene composite, and residents reported blue flame in units. This has been widely reported and you can do your own homework. So you get two phenomena that, among other lapses, turn a unit fire into The Towering Inferno: the cladding chimneys hot gases up the side of the building before combusting itself, and small propane bombs go off in individual units.

    Fundamentally of course, the local government which owned and managed this monument to Peak Social Democracy had no pricing signals and no profit-and-loss discipline and therefore no incentive to bring this relic up to current industry standards.
    ReplyAgree/Disagree/Etc.
  • @The Anti-Gnostic
    There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable "green" cladding, and stuffed full of Third World tax-eaters with portable propane stoves.

    An estimate of how much this fire will save in tax revenues would be a nice number to have. Just sayin’

    Read More
    • Replies: @Anonymous
    An estimate of how much this fire will save in tax revenues would be a nice number to have. Just sayin’

    If not the British people, at least the British buildings are doing their best to resist the third world horde. Brings a tear to the eye, it does.

    Some mood music for the occasion:

    https://www.youtube.com/watch?v=A_sY2rjxq6M

    ReplyAgree/Disagree/Etc.
  • @The Anti-Gnostic
    There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable "green" cladding, and stuffed full of Third World tax-eaters with portable propane stoves.

    I had the misfortune to live in a British High Rise for a short period. The Council was strict but sensible. Only buildings of 5 storeys or less were permitted to have mains gas. I lived on the third floor, but as it was a 14 storey block, I could only have electricity.
    Portable propane and similar were absolutely verboten. They could and did evict people for this practice.
    I would be grateful if you could direct me to the source of this story.

    Read More
    • Replies: @Expletive Deleted
    I lived on the top floor, coincidentally the 14th, of a block in a notoriously grim estate from '86 to '93.
    Ancient, probably 1940s gas cooker, acquired from where I don't remember. All the flats had North Sea gas, which was a blessing as the electric underfloor heating (just resistance wires cast into the floorslabs I think, or something equally primitive) was unusable due to the cost. Built in the days when nuclear was going to make the leccy "too cheap to meter".
    You could fill the oven with bricks and use the heavy iron monster of a stove to keep warm.
    Less active people (single mums with a handful of children, oldsters, and alcoholics/druggies downstairs) used SuperSer type butane canister (I think 13kg?) heaters or tall Aladdin-type paraffin (kerosene) things (which worried even me at the time).
    The building reeked like a trawler. The lifts (elevators) were off as often as not, and the stair was narrow, windowless and almost a spiral.
    The Council seemed think this was all fine and dandy. Otherwise they'd have had to rehouse all the paupers in buildings where they had a chance of surviving the winter without their (painfully saved up for and purchased) gas and paraffin deathtraps. Quite a few had had the electric cut off for debt, and the card meters ripped through their allowance in no time, being on a premium rate.
    ReplyAgree/Disagree/Etc.
  • Stuffed full of people who would have the right to buy and resell after a few years and trouser several hundred grand or more. Third Worlders having being given a massive gift like that had every the long standing advice to stay inside flats during a conflagration in the building. Some were ordered back inside by the firemen, and they obeyed.

    One person made sure he got out, but he may have quite a while to think it through. A white man in whose kitchen the fire started (allegedly because of a fridge which is possible) is said to have had his clothes packed and moved out of his flat into the hall, before he informed the neighbors. The neighbour saw the luggage in the hall and the fire in his kitchen. So the fire likely started (or was started) quite a while before the alarm was raised. The man also behaved oddly outside. Yeah he got out with his stuff in plenty of time. He should get serious time in gaol.

    The dry rise pipework (enabling the fire brigade to use hoses on any, even the topmost, floor may have had the valves stolen for scrap value.

    I agree about deregulation.

    Read More
    • Replies: @Expletive Deleted

    A white man in whose kitchen the fire started (allegedly because of a fridge which is possible) is said to have had his clothes packed and moved out of his flat into the hall, before he informed the neighbors.
     
    The man who allegedly (since we have only the neighbour woman's account for this) watched his fridge combust, and then diligently packed his gear and thoughtfully woke up said neighbour as he headed for the stairs was Mr Behailu Kebedi, an Ethiopian taxi driver of a most un-white countenance. And it's been all over the papers since day one. So I don't know where you got that little tidbit from.

    There are all sorts of unlikely tales swirling around the tower, such as the unnamed man catching a mystery baby tossed from 10th floor (in the dark and smoke? What is the likely trajectory and terminal velocity, at sea-level, of a healthy infant? Do not attempt to write on both sides of the paper at once).
    I also heard two women on the radio claim that they were starting a collection for the inhabitants because the entire building was occupied by people from a single town, their hometown, in Morocco. It may well have seemed like that to them, I dunno.
    ReplyAgree/Disagree/Etc.
  • Fingleton is very sharp on Far East economics and Advanced Manufacturing, but often weak on British domestic matters. This is not surprising, since he has spent nearly all of the last 50 years in Japan.
    So is the case here. British tower block living is almost entirely a social housing phenomenon.
    Nearly all were built between 1955 and 1976 with massive subsidies from Central to Local Government, who were the landlords. In 1976, Britain went cap in hand to the IMF and building stopped permanently.
    Right from the start, the vast majority were poorly constructed and insulated and employed noxious materials like asbestos that have since been banned.
    Not very surprisingly, few Local Authority tenants were keen to live in these buildings and they were used to dump “anti-social” tenants.
    Problems of insulation and dampness quickly became insuperable in many areas. From the late 1980s, they have been demolished as a result. Most noticeably, Glasgow has been demolishing the highest domestic housing in Europe. The ( amusingly named ) Red Road scheme bit the dust a few years back.
    The social housing to replace this stock has been built for Housing Associations, not Local Authorities and has been low- and medium-rise ( 4 to 6 storeys, rather like tenements )
    Grenfell Road was therefore an Architectural Dinosaur. Most Local Authority housing of the period was expected to last 60 years. Grenfell Road lasted 43 years. Even then, it was being used to dump 3rd World immigrants and “Syrian refugees”. Even with expensive refurbishment, it and similar housing schemes were unlikely to survive to 2050.
    I think any inquiry will recommend that High Rises of this provenance be demolished sooner ( 10 to 15 years ) rather than later. With the exception of a few High Quality blocks in a few select areas – central Aberdeen springs to mind – very few will exist shortly, and an aberrant and bizarre period of British Architectural History will be closed.
    The High Rise was a result of massive Central Government subsidy, without which they would not be built. But also massive Deregulation: Local Authorities ignored or circumvented their own planning regulations. They awarded contracts to companies in contravention of building and environmental regulations.
    Of course, Fingleton was in London at the time – except he wasn’t living in a Tower Block !

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  • @TWS
    Wasn't this caused by green regulation? Putting a flammable cladding on the building to save energy? Regulations are to blame. When will you look up at the fields of crosses blighting your landscape and realize your windfarms do nothing but kill birds? Does the cult of Gaia know no bounds?

    There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable “green” cladding, and stuffed full of Third World tax-eaters with portable propane stoves.

    Read More
    • Replies: @Verymuchalive
    I had the misfortune to live in a British High Rise for a short period. The Council was strict but sensible. Only buildings of 5 storeys or less were permitted to have mains gas. I lived on the third floor, but as it was a 14 storey block, I could only have electricity.
    Portable propane and similar were absolutely verboten. They could and did evict people for this practice.
    I would be grateful if you could direct me to the source of this story.
    , @Anonymous
    An estimate of how much this fire will save in tax revenues would be a nice number to have. Just sayin'
    , @Corvinus
    "There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable “green” cladding, and stuffed full of Third World tax-eaters with portable propane stoves."

    Sources or retract.
    ReplyAgree/Disagree/Etc.
  • On a side note…I couldn’t help but notice that despite the totally engulfed high rise, the structure did remain standing. Compare that to the Twin Towers and especially Building 7 that had a “furniture fire” burning on its upper floors collapsing rapidly into their own footprints after only a few hours of fire. Odd.

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    • Replies: @anonymous
    Odd, indeed.

    So odd, that the original 2006 Presidential Commission Report on the 9/11 disaster had not one word about the collapse of Building 7.

    (A half-assed 2007 addendum, subsequently rushed out to quell the resulting shitstorm of criticism, made a feeble attempt to explain 7's collapse in innocuous terms.)

    But, there you go. Noticing things.
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  • TWS says:

    Wasn’t this caused by green regulation? Putting a flammable cladding on the building to save energy? Regulations are to blame. When will you look up at the fields of crosses blighting your landscape and realize your windfarms do nothing but kill birds? Does the cult of Gaia know no bounds?

    Read More
    • Agree: German_reader
    • Replies: @The Anti-Gnostic
    There seems to be a hypothesis forming that this fire morphed into an inferno because a 27-story tower was retro-fitted with flammable "green" cladding, and stuffed full of Third World tax-eaters with portable propane stoves.
    , @Logan
    Not directly. As there are non-flammable claddings with similar insulation characteristics that could have been used. And probably even the "flammable" material could have been used safely if properly installed.

    However, you point out a real problem. When I used to teach classes about how to deal with water-damaged buildings, I would point out that some new materials and assemblies that were going up for "energy conservation" reasons would react less well to getting wet.

    A common response was, "So you're in favor of wasting energy and killing the planet!"

    Facepalm.
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  • A couple of readers asked why I did not include in my column, “A Government of Morons,” the violence used against the medical doctor Dao removed from his confirmed seat on a United Flight as a result of airline overbooking. The 69-year old was beat senseless by goons. A few days later United Airlines removed...
  • Not mentioned in the article – in the era of regulated flight the cost of a coach seat was as much as today’s first class. Few people could afford to fly and most people had never been on a plane.

    You can still purchase that level of service and be guaranteed not to get bumped. And those on a tighter budget aren’t consigned to Greyhound.

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  • Why do Americans put up with this?

    Because every time they vote to change things, it turns out that the politician was yet another lying con-man.

    Lying to the voters in an election should be a serious offense. Because it is a coup de etat against democracy. How can voters have a voice in their government if the politicians lie constantly? A lying politician is saying that power does not reside with the people, but instead is grabbing it for himself/herself.

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  • “Dog eat dog” competition sounds ok to most, until they realize there are much bigger dogs about.

    That’s the heart of modern American cutthroat capitalism.

    I’m glad to see that Mr. Roberts has come around to understanding that there is some good in regulation. Since he was in Reagan’s cabinet in the 1980′s, I suspect he was in favor of de-regulation in 1978.

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  • The business model of today’s US airlines is to try to constantly push the limits of what abuse their customers will withstand and continue to fly. Every time they find that customers will take a level of abuse, they then form a plan to make it worse.

    When I used to fly regularly, I always tried to avoid United. They’ve long been the worst of the worst. The combination of United and Chicago at O’Hare was always truly awful. A combination of beauracratic inefficiency and corruption made any connection at O’Hare turn into horror. A truly nasty place. And now some Chi-town cop will probably shoot me if I fly again.

    United was always a pro a meaningless customer service. Employees trained to pretend they care, right up to the point where United might have to lift a little finger to provide service. Then you just got long explanations of policy and proceedure and how they couldn’t possibly provide customer service.

    For fun, watch an old 1960′s movie and see what flying used to be.

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  • Interesting points. I lived in the Dominican Republic for three years and I had a cell phone with Orange and as far as I remember, I never received an unsolicited phone call in the whole time I was there.

    When I returned to the US, I got a cell phone and had the firefighters calling me to plead for money on the very first day I had my new number, and now spam phone calls every day, and also spam texts, for example today I was notified, along with 25 other people, that I had $330 to pick up at Western Union and all I had to do was click on the link provided.

    Why do Americans put up with this? Since the country is a democracy, the answer, I suppose, must be that they don’t really object to it, and if pushed many people would say that corporations, scammers, people in India, and lunatics all have the same rights as you and me to make phone calls to anyone they want.

    Of course you could make lots of other arguments like legislators for sale to the highest bidder, a senile Supreme Court of superannuated government lawyers who can’t see the difference between a corporation and a person, but the bottom line must be that Americans and their cell phone companies must like it that way and Dominicans don’t.

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  • For my generation, life in America today is barbaric.

    This is so true.

    The free market utopia fails in the implementation. Unregulated Capitalism devolves into Feudalism. Don’t put your faith in the invisible hand.

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  • Donald Trump wants to rip up the financial rule book and let the bankers go hog-wild. But haven’t we tried that before? Last Friday, the president announced a plan to scrap the rules that were put in place in 2010 to prevent another financial meltdown. Trump wants to return to the ‘good old days’ when...
  • If so worthless, why repeal it?

    guys, don’t worry, this roller coaster is safe! trust me, you don’t need the hardness. we believe you can fly. enjoy the air!

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  • Hey Mike,

    I found your problem:

    Let’s summarize: Dodd-Frank created thousands of pages of rules designed to make banks safer.

    Those rules do no such thing, nor were they designed to do so. Dodd-Frank is crony-capitalism through and through. It is just another layer of financial regulation perched atop all of the other layers. Have you ever worked for a bank? I did, for four years and with one of the largest banks in the country, designing software whose sole purpose was to keep the bank in compliance with the myriad regulations imposed upon it. I was being paid to please the government, rather than customers. The sooner you realize how worthless (and counter-productive) regulations are as a tool to help consumers, the faster you’ll realize that Trump is on the right path.

    Read here for more on the wonders of Dodd-Frank: http://www.freedomworks.org/content/legacy-dodd-frank-maintaining-too-big-fail-and-destroying-community-banks

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  • “Flanked by his crony friends for an après-announcement photo op, the billionaire president said he was going to roll back the toothless provisions in the 2010 Dodd-Frank financial reform bill…”

    My bold. Rolling back a toothless bill has little effect. But yes. Trump is no enemy of Crony Capitalism. To be an engine of prosperity for the people Capitalism must be regulated by a competent and honest government. Something Trump could not possible achieve if he wanted to.

    What Trump can (hopefully) do is restore our national sovereignty, avoid nuclear winter and begin to re-industrialize our economy. What Trump has already done is destroy the credibility of the corporate media and defeat the odious coalition of the fringes which is bent on the destruction of the white race.

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  • It seems to be mainly a matter of nomenclature. You don’t usually have pharmaceutical company salesmen calling themselves “doctors” even though there are many medical doctors employed by pharmaceutical companies in research and development, because there is an expectation that medical doctors will do what is best for the patient rather than what is best for the doctor (an expectation that is probably not always upheld, but it is what it is.)

    In many lines of business it is customary for people to euphemistically call themselves specialists, consultants, or counselors or advisors, rather than salesmen (saleswomen). For example a Preowned Transportation Specialist might do pretty much the same job as a used car salesman.

    If you are trying to make a living getting people to put their savings in a mutual fund that pays you a high rate of commission, you are probably not going to call yourself a mutual fund commission agent. Financial advisor sounds much better, but if there is no state or federal regulation of the title “financial advisor”, then anybody is going to use it, just like any quack medicine merchant would call themselves a physician or medical practitioner if use of such titles were not regulated by law.

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  • I have been reading about this for the last 3 days. essentially the wall street mofos wants to put their profits/commisions before the best interest of their clients who hired them.

    fuck trump.

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  • “Last Friday, the president announced a plan to scrap the rules that were put in place in 2010 to prevent another financial meltdown.”

    Dodd-Frank is a joke, the only rule to prevent a financial meltdown is the Glass-Steagall act enacted in 1932 and repealed by rapist phony Bill Clinton in 1999.

    The Left knows less about Finance than they do about male-female fornication. Stick to bathrooms, illegal immigrants and the 1% of sexual confused individuals roaming the USA that’s what you’re best at.

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  • Well he is just an Evil Capitalist Exploiter of the Poor after all, what did we really expect? The problem is that despite his many many shortcomings he is still far and away the best choice. Too bad the dems shot themselves in the foot by dumping Bernie but that’s old news. America has dug itself a deep dark hole that it may never rise out of, mistakes will be made, bribes extended and a new crop of Ultra Rich will rise. Will anything really change? Unlikely but we might as well make the best of it, there is always some hope of a better future however slim.

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  • Should I be surprised that Mike’s piece has generated much commentary to date?

    Either Mike has lost some of his credibility or the trust of his readers or his conclusion is incontrovertible.

    Isn’t silence expected when staunch Trump supporters see their man [Messiah?] cozy up to Wall Street and seek to deregulate the banks which are mostly responsible for putting Trumps supporters into the economic straight jacket in which they are presently entrapped?

    Do I detect signs of worry among his fans? If not, you should be worried because Wall Street and their Governing enablers are going to cause another financial fiasco like the last one in 2008, precipitating the necessity [?] of another “bail out” and/or “bail in” which, of course, will result in more austerity for the low and middle classes.

    Yep, expect to be sodomized yet again. Well in a perverse way it will be good news if the whole corrupt rotten American capitalist system collapses like the sclerotic Soviet Union did in 1998.

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  • Dodd-Frank is a law passed by the congress, and it can’t be overturned by the executive branch.

    To whatever extent the regulators are capable to exercise their discretion, that’s also within the constraints of the law.

    Now, if the purpose of expected regulatory adjustments is to enrich the banks at the expense of everyone else, then it’s a travesty indeed. But it could also be an attempt to jump-start the economy, as this guy (albeit a banker himself) opines:

    “To a certain extent, a law like Dodd-Frank is established so regulators have a volume control,” he added. “What you’ll see is some change in that volume control, and also watch how markets perform and how regulators manage that performance.”

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  • @Anon

    Gutting Dodd-Frank is just part of Trump’s masterplan to cozy up to the Wall Street heavyweights in order to consolidate his own personal power. That’s what’s really going on. Trump has already made the same ingratiating appeal to muck-a-mucks in the military, law enforcement and the intelligence community, now he wants to be buddy-buddy with the big money guys. It’s all a powerplay.

    It’s just a pity his base hasn’t figured it out yet.
     
    Some have. But they are aware that the President needs to ally with part of the forces at play, if he wants to achieve anything at all. It's not a choice between beauty and evil, utopia and injustice: it's between major and minor ills, and we think Trump is making the right choices.

    A most unfortunate ally, though, from the people’s perspective. This ally is the root of the globalism he is supposed to be pushing against. That is no ally at all, but a deal with the devil, and the devil wins when a deal is made.

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  • Throw out Dodd-Frank, at least the parts that require all that paperwork, which is just wasteful.
    The fiduciary rule sounds good in principle, but how do you enforce that?
    Reinstate Glass-Steagal. Repealing it was what got us into trouble in the first place.

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  • Trump’s base is better equipped to see his betrayals than O’s or Hillary’s bases. His base has been shystered enough times before to call a spade a spade. A good number of them know the harm that Goldman-Sachs has done. It is very disappointing to see these developments, but there should be no surprise. Many of those of us who voted for him viewed him as a long-shot opportunity for change.

    If he betrays us it will not be a surprise. I mean, he is Donald Trump….

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  • Anon • Disclaimer says:

    Gutting Dodd-Frank is just part of Trump’s masterplan to cozy up to the Wall Street heavyweights in order to consolidate his own personal power. That’s what’s really going on. Trump has already made the same ingratiating appeal to muck-a-mucks in the military, law enforcement and the intelligence community, now he wants to be buddy-buddy with the big money guys. It’s all a powerplay.

    It’s just a pity his base hasn’t figured it out yet.

    Some have. But they are aware that the President needs to ally with part of the forces at play, if he wants to achieve anything at all. It’s not a choice between beauty and evil, utopia and injustice: it’s between major and minor ills, and we think Trump is making the right choices.

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    • Replies: @tim s
    A most unfortunate ally, though, from the people's perspective. This ally is the root of the globalism he is supposed to be pushing against. That is no ally at all, but a deal with the devil, and the devil wins when a deal is made.
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  • The man who promised to restore hope and bring change to America, has announced a plan to open five corporate plantations in the United States. On Thursday, President Barack Obama, whose policies have resulted in the greatest number of public sector job losses in US History (Public sector jobs have declined by 718,000 jobs since...
  • He believes in trickle-down economics, which is a form of economic water torture for the rest of the public, consistent with the government’s growing comfort with other forms of torture as accepted policy.

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  • The comment by E. A. Costa is spot on. George Wallace was tragically wrong about many things, but one thing he said in 1968 still resonates with me: his assertion that there isn’t a dime’s worth of difference between the two parties. Barack Obama ran in 2008 as a progressive who was going to bring hope, transparency, and change to America. Building on the legacies of Martin Luther King, Bobby Kennedy, and Eugene McCarthy, his presidency was going to transform America into a beacon of freedom and prosperity for all Americans. From the NSA scandal to the corporate bailouts and protection of the Wall Street criminals, however, he has governed increasingly as if his inspiration is Dick Cheney and Oliver North. His embrace of enterprise zones is just the latest example of a man who is increasingly cozy with corporate elites and the one-percenters who have looted the country over the past thirty years.

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  • The United States duopoly is comprised of two parties: (1) the Right Wing (Democrats) & (2) the Even More Right Wing (Republicans).

    Both parties are hyper-Capitalist and Imperialist. The difference is purely rhetorical. The only thing resolved by the Punch and Judy show that is U.S. “elections” is who is going to be bought off and at what price.

    Q.E.D.

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