Friday, October 7, 2011
Announced U.S. Job Cuts Rise 212% From Year Ago
U.S. employers announced the most job cuts in more than two years in September, led by planned reductions at Bank of America Corp. (BAC) and in the military.
Announced firings jumped 212 percent, the largest increase since January 2009, to 115,730 last month from 37,151 in September 2010, according to Chicago-based Challenger, Gray & Christmas Inc. Cuts in government employment, led by the Army’s five-year troop reduction plan, and at Bank of America accounted for almost 70 percent of the announcements.
While the bulk of firings are not “directly related” to economic weakness, they “could definitely be a sign of more cuts to come,” John A. Challenger, chief executive officer of Challenger, Gray & Christmas, said in a statement. “Bank of America is not the only bank still struggling in the wake of the housing collapse, and the military cutbacks are probably just the tip of the iceberg when it comes to federal spending cuts.”
Violence Metaphor: The Language of Financial Occupation
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Activist Post
In a recent article by CityWire Press in the European Union, unattributed sources at JP Morgan, in remarks concerning delays in Greece's willingness to capitulate to financial terrorism, refer to the need to "hold a knife to the throat of the Eurozone" in order to reach a resolution favorable to the very banks that brought about this crisis.
Citing the crucial need for either recapitalization of the banks, or a massive increase in the region's bailout fund to the tune of trillions of more Euros (both solutions that levy the man-power of taxpayers to re-pay electro-magically created public debts on the banker's books), anonymous 'analysts' at JP Morgan remark that:
"'It is good to see that both of these options are now more openly discussed in Europe, but it is our sense that the euro area truly needs a knife on its throat before it takes the needed decisions,’ warned analysts at JP Morgan in a note last week."Both Goldman Sachs and JP Morgan are concerned so deeply with a resolution to the 'crisis' that in order to hasten a decision on the part of the captive nation of Greece, they have also warned of the impending catch-22 of complying with the demands of the money masters, a deeper recession to come even if Greece capitulates:
"Such a recession could even be the result of ‘some form of resolution’ of the debt crisis, JP Morgan analysts fear, as that would probably involve further fiscal tightening. And a near-term fading of the crisis would likely to lead to further procrastination by decision-makers, they warned."'Fiscal tightening,' of course means higher unemployment and the reduction to poverty of many more of the world's middle class.
In this light, the personification of the banksters as a thief in the night with a throat to the productive nations of the world is quite fitting. Perhaps violence metaphor once again more aptly gets at the truth in our world of double speak and lies.
Bloomberg, 4th Richest Person in US Due to Wall Street, Is About to Snap the Mouse Trap Shut on Those Who Threaten His Fortune
Mayor Michael Bloomberg is threatening to shut down democracy on Wall Street.
You might expect that from a man who is the fourth-wealthiest person in America, with $19.5 billion dollars in his pocket. Moreover, Bloomberg made a lot of money as a Wall Street financier, but he catapulted into the multibillionaire category by revolutionizing financial market information and selling a specialized terminal and access services to the financial industry (followed by Bloomberg media services).
In short, his fortune is directly integrated into the Wall Street status quo.
That may be why he told a New York City radio show host last week that "New Yorkers need 'to help the banks.'" The Village Voice headlined its story on the plutocratic pronouncements of Bloomberg, "Mayor Bloomberg: 'We'll See' If The City Will Let Occupy Wall Street Continue."
Bloomberg seemed in a baronial haze, claiming, "The protesters are protesting against people who make $40-50,000 a year and are struggling to make ends meet. That's the bottom line." Is the mayor mainlining Fox "news" as his source of information? He royally added, "so anything we can do that's responsible to help the banks ... that is what we need."
Yesterday, BuzzFlash at Truthout wrote that there is little doubt that law enforcement officials - at the behest of corporate-backed politicians - are infiltrating and planning ways to discredit the Wall Street autumn of democracy.
In his plutocratic cloud of personal financial interest and self-serving disdain for the right of assembly, Bloomberg resembles a monarchist, not a mayor.
If the Occupy Wall Street movement spreads and grows, you can count on Mayor Bloomberg to pull the curtains down on this exercise in America's basic right of redress.
As Thom Hartmann noted in a book excerpted on Truthout, Thomas Jefferson warned that "the artificial aristocracy is a mischievous ingredient in government, and provision should be made to prevent its ascendancy."
Bloomberg is just waiting to snap the mouse trap shut on democracy.
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Targeting the Real Enemy: Occupy the Fed
Alex Jones urges supporters to take to the streets outside branches of the private Federal Reserve bank at locations across the country– not just to protest, but to “occupy” the source of real monetary tyranny in the U.S. The intent is to focus media attention not just on vague calls to ‘reform’ capitalism but to attempt to reign in the shadow banking cartel itself. The corruption of Wall Street is but a symptom of this unaccountable entity that holds a grip over finance, politics and freedom everywhere.
Alex himself will appear at three branches in Texas, including the head of the District 11 Federal Reserve in Dallas, as well as its subsidiaries in Houston and San Antonio (see dates & times below). However, it is hoped that a longer presence can be maintained at one or more of the locations throughout the nation, including possible campers and long-term demonstrators, in order to draw news coverage and expose the private bank that remains obscure and little known to most Americans. Join Alex in Dallas this Friday, Oct. 7 at 6 PM or head to the Fed near you and let’s use the momentum surrounding financial issues to point out the central role of the central bank that prints our money yet owes no allegiance to the people. Already, groups have spontaneously surrounded the Fed in Boston and other cities. Follow their example and peacefully send a message to the system that will reverberate to the very core!! The time is now to stand up for sovereignty and sound monetary policy– how else can we turn around the economic disaster that continues to spiral out of control across the globe?
FEDERAL RESERVE LOCATIONS:
CNN Continues To Try & Paint Occupy Wall Street Protest As A Big Joke! (...
UPDATE #3 - CNN's New Star Is a Little Too Sympathetic to Wall Street - The Atlantic
UPDATE #2 - Salon Columnist Glenn Greenwald Annihilates Erin Burnett
UPDATE - Fairness And Accuracy In Media Has Responded To Erin Burnett
If CNN is interested in factchecking claims about Wall Street, they might want to start by taking a look at those made by their new host. At the very least, the show should invite the economists and policy experts who could set the record straight.
ACTION: Please tell CNN's OutFront that Erin Burnett's factcheck of Occupy Wall Street needs factchecking.
CONTACT: CNN OutFront Comment Form:
http://www.cnn.com/feedback/show/?s=erinburnettoutfront&hdln=2
You can also send your comments to the show on Facebook
http://www.facebook.com/OutFrontCNN
And on Twitter:
@ErinBurnettCNN
@OutFrontCNN
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This clip is a must see.
CNN's Erin Burnett ventured down to Occupy Wall Street and told some protesters that "taxpayers actually made money on the Wall St. bailout." She made fun of the protesters on-air and derided their knowledge of the bailouts.
The only problem for Erin, is that she's the one who didn't get her facts straight.
That's right, the banking apologista, who is engaged to a Citigroup executive, and is infamous for having her ass handed to her on camera by Congressman Brad Sherman over AIG bonuses, didn't do her bailout research before she decided to ridicule protesters for not doing doing their bailout research.
According to the U.S. Treasury's own figures, available publicly to any reader, including pneumatic (we understand if you need a dictionary for that one, Erin) and arrogant CNN reporters, as of TODAY, taxpayers are still more than $95 BILLION IN THE RED on TARP. And that's including all interest and other income. There is still $122 BILLION of TARP funds that have NOT yet been paid back.
We understand that Burnett was excluding GM, but she somehow missed that AIG, alone, still owes over $50 BILLION.
The "we made money on the bailout" meme just won't die. Facts and in the case of Burnett, poor research, be damned.
Check this out:
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Here's the ultimate proof, Erin. We did the research for you while you were in makeup:
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Oh no, we're not done with you Erin. Since you loosely used the term 'bank bailouts' instead of TARP, in your on-air embarrassment today, we offer an extra can of whoop-ass, courtesy of Dylan Ratigan, your former colleague.
- "So when someone like Sen. Gregg, or Erin Burnett starts lying to your face about how much money they made us with their bank giveaways, tell him he's $2 trillion short, and we can talk about the interest they owe us later."
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It seems that Erin conveniently forgets to mention the trillions in stealth bailouts doled out to Wall Street from Bernanke and Geithner, at 0% interest. We haven't forgotten Erin. And neither have the fans of the late Bloomberg reporter Mark Pittman, who fought the Fed for this important reveal.
Check this out from Bloomberg and PBS, the next time you're in the make-up chair:
The True Cost Of The Wall Street Bailout
Watch just a few minutes of this clip. It is outstanding.
Special report from Bloomberg -- Adding It All Up
Allison Stewart from Need to Know with Bloomberg reporter Bob Ivry.
The Bloomberg total is $12.8 trillion.
We all know about TARP, the Troubled Asset Relief Program, which spent $700 billion in taxpayers’ money to bail out banks after the financial crisis. That money was scrutinized by Congress and the media. But it turns out that that $700 billion is just a small part of a much larger pool of money that has gone into propping up our nation’s financial system. And most of that taxpayer money hasn’t had much public scrutiny at all. According to a team at Bloomberg News, at one point last year the U.S. had lent, spent or guaranteed as much as $12.8 trillion to rescue the economy. The Bloomberg reporters have been following that money. Alison Stewart spoke with one, Bob Ivry, to talk about the true cost to the taxpayer of the Wall Street bailout.
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Here's more from Dylan Ratigan on Bank Bailout Lies:
This lie must be beaten back by all of us like whack-a-mole every time it rears its ugly head. Please help me by sending this information to any politician, media figure, banker, neighbor or robot that you find repeating it -- they can take our money, but they don't own the truth.
Let's break it down:
1. TARP itself hasn't even made money. AIG alone still owes us $75.6 billion. However, they always add the caveat "Other than AIG..." when they say that the bailouts were "profitable." But the AIG money was directly paid to many of these same banks that "paid back their TARP" at an outrageous 100 cents on the dollar! Mind you, this was done by government officials that were the former employees and current shareholders of the very banks they were helping. Let's make banks like Goldman Sachs, Bank of America and Societe Generale pay back the $105 billion of stolen taxpayer money before we let anyone say "TARP was paid back."
2. TARP is a tiny little part of a massive amount of taxpayer support. TARP is actually less than 10 percent of your tax dollars that have been handed to the banks. And now the banks "paid back" the tiny slice that is TARP with our money, and you are supposed cheer them for savvy. At this very moment, the taxpayer is still owed $2.02 trillion dollars for the bailout by our politicians and banksters, and that number is growing every day.
Never mind the money that these same banks make getting endless 0 percent interest loans from the Federal Reserve (aka you) while either they lend it back to you at 14 percent interest or just lend it right to back the government and pocket the yield. Never mind the multitude of benefits they get from being Too Big To Fail. But you're not supposed to pay attention to that; you're only supposed to notice how fast they paid back TARP!
So instead of these politicians looking for the only obvious place to find the money --clawbacks from the people who continue to steal it -- we are now being subjected to outright lies as they once again pick the banksters over the people who voted them in. But don't let them, or anyone in the media, get away with it without hearing from you.