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Simon Johnson Decries Influence Of Wall Street Oligarchs, US A Banana Republic
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Clusterstock
April 21, 2009
If you haven’t read economist Simon Johnson’s piece in this month’s Atlantic, find some time this weekend to do so (We’ll post some excerpts here later today).
- A d v e r t i s e m e n t
Johnson’s the former chief economist at the International Monetary Fund, and he outlines what he sees as the alarming influence of Wall Street firms over the American economy. I interviewed him on TechTicker yesterday, and he expounded on his thesis:
America’s Crisis Resembles that of Emerging Markets: While at the IMF, Johnson saw so many financial crises that the core problem became old hat: In the free-wheeling growth years of an economic boom, the politicians and oligarchs of an emerging market like Russia or Argentina would get so close that eventually they would meld into a politico-industrial complex. As long as the boom lasted, this cozy relationship never bothered anyone–because everyone was getting rich. Fast forward to the latest market crisis–the one in the United States. The pattern is exactly the same, with a two-way money-and-power corridor now running between Washington and the modern oligarchs Wall Street.
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April 21st, 2009 at 2:25 pm
Defend Freedom!
http://WWW.WARNTHEPEOPLE.ORG
Tim Reply:
April 23rd, 2009 at 10:25 am
The solution to the US housing crisis and the worldwide financial crisis is sitting right in front of you. Its called the Homeowners And Bank Protection Act (HBPA). It freezes foreclosures, for however long it take to fix the housing crisis, and puts the Federal Reserve into bankruptcy.
Sound good so far? Theres more…
This legislation has been passed in many cities, towns and counties all across the USA. Get off your butt and get it passed in your locale.
For a copy of the HBPA, articles and video of the HBPA – and other articles explaining the facist takeover of the U.S., visit http://www.larouchepac.com
I like infowars.com for the ’steps to facism’ articles and videos that it provides, but Alex Jones never offers solutions. Larouchepac.com DOES!
A LaRouche international webcast on April 28, 2009 at 1 P.M. EDT will lay the ground work of immediate actions needed to salvage the US economy from the onrushing global financial break-down and the avoidance of a New Dark Age not seen since the 14th century in Europe.
freedomworks Reply:
April 23rd, 2009 at 5:31 pm
END THE FED.
Rally at any fed reserve branch Sat. April 25 2009.
Search google for “end the fed”.
April 21st, 2009 at 2:26 pm
REPENT.UNITE.RESIST.
left and right unite Reply:
April 21st, 2009 at 2:41 pm
UNITE AND RESIST and put aside your religions
wake up Reply:
April 22nd, 2009 at 8:22 am
goodnewsaboutgod.com
Texas native Reply:
April 22nd, 2009 at 7:09 pm
im not so keen to do so. this whole house market crash is of course a sham. we have to know this. they will cover every basis to control us. right??? so why wouldnt it be there plan to move us all into gated communities, or apartments, just to control us better? same thing by the way, all apartments are gated now, and alot of people are moving into them, and they are building them like crazy here in Austin. it just doesnt seem right to me, alot easier to control people, and deal with them when they are stacked in like sheep. all together, less of a problem when you know where everyone is, and the floor plans are very accessable, easy to access, and very CONTROLLABLE!!!
WE SHOULD BE WARE, YOUR HOMES ARE YOUR ONLY SAFE POINT, BECAUSE YOU CAN PERSONALLY REBUILD, OR MAKESHIFT ANYTHING IN YOUR HOME FOR YOUR OWN SAFTEY. THINK ABOUT IT, WHERE CAN YOU HIDE, FIGHT, OR DEFEND YOURSELF IN AN APARTMENT? ABSOLUTLEY RIGHT WHERE THEY WANT YOU TO, AND THEY WILL CONTROL YOU IN THAT CELL YOU CALL HOME. STAND BY YOUR HOUSE!!!!!
April 21st, 2009 at 2:35 pm
The reason why the websites we are on, are monitored is because any one with disenting opinion of world police state will be defunded then criminalized. Very unAmerica, but would just like to point out all casinos are under the umbrella of one and they are making up charges agaisnt people just for thier views on politics.
Griz Reply:
April 22nd, 2009 at 11:36 am
Sure, strip us of money then of freedom or both at once. I, for one, do NOT intend to merely stand still and let it happen. Take action every way you can.
April 21st, 2009 at 2:42 pm
video nothing but hot air….
bofors Reply:
April 22nd, 2009 at 12:11 am
I agree and that is after reading two of Simon Johnson articles as well.
He actually wants more money for banksters too.
Weak sauce.
April 21st, 2009 at 2:48 pm
WOW! BIG NEWS! THIS IS MAJOR!
http://www.kvia.com/Global/story.asp?S=10216950
SIGNIFICANT NOTE:
There were military on the scene and when the reproter
tried to question the military personel that’s when the cop
went beserk and flew off the handle! INTERESTING!
Theywontchipme Reply:
April 21st, 2009 at 3:32 pm
Holy Crap! Maybe this will stop some of the apologists in media today. Be Vigilant In Your Reporting! You Reap What You Sow!!
p.s. wtf was the military doing on the highway??
April 21st, 2009 at 3:02 pm
IMF are nothing less than vultures. Their job is to go in a country offer loans in return the borrower gives up the life blood of that country and thus destorys the lives of those that live within it.
April 21st, 2009 at 4:23 pm
I’ve done my research and I know that the Rockefellers are deeply involved in the Peterson Institute. Therefore, I will not listen to this man who works for the Peterson Institute.
April 21st, 2009 at 5:07 pm
In today’s world of have’s and have not’s, the gap is ever widening. The middle class of the past is disappearing. The ruling elite and special corporate interests, alongside the Central Bankers and Oligarchs of the world are running the show. The media is controlled by these same groups and spew out misinformation daily. WE as a population are referred to as CONSUMERS. These corporate powers create most products and services including food and drugs that:
(a) WE really don’t need; and
(b) WE really can’t afford.
The bankers then lend us:
(a) Fiat currency that has no value;
(b) That doesn’t really exist; and
(c) Expect us to pay it back with interest.
In Essence, WE buy stuff WE don’t need with money WE don’t have to impress people WE don’t like for reasons WE don’t really know. WE then collectively work 24/7 to pay off debt and taxes in an endless vicious cycle created by these controlling interests.
These elite groups have divided us far too long. Divisions of Black & White, Gay & Straight, Rich & Poor, Young & Old, Liberals & Conservatives, Republicans & Democrats, Muslim & Christian, Baptist & Protestant, GenX & GenY, East Coast & West Coast, etc, etc, etc. The list goes on and on. It’s through these divisions that they control and manipulate us. It’s the age old “Divide and Conquer.” Well it’s time WE say ENOUGH!!
It’s time to realize that WE are all the same. At the most basic level WE are all the same. WE are borne by our mothers; WE need air, water and sustenance to survive. If WE are injured, WE all bleed. Humanity does not want war, only leaders and bankers want war. It’s time WE the people wage a war against them. This war will not be won easily or quickly. It is not a war of violence or a war of weapons and fear. It is a non-violent, non-cooperative war. A war of willpower of the people and love for the world. This war will have many battles but we must begin the fight.
Our first battle is to unite under a common goal. In years past, suggestions were made to combat the rising gas prices with the concept that, if everyone would boycott buying gasoline from Company “A”, on Monday, and Company “B”, on Tuesday, WE could force them to lower the prices. It didn’t work for many reasons but the idea was valid.
Here is a new idea. “International SAVE Your Money Day”! The idea is simple. Using the power of the internet and word of mouth we must create a social epidemic, a tipping point if you will. WE must spread the message to everyone everywhere, that beginning Sunday, March 8, 2009, and for every following Sunday, DO NOT SPEND ANY MONEY! Buy what you need on the Saturday or wait till Monday. On Sunday, sleep in, go for a walk, visit relatives, read a book, clean the garage, plant a tree, whatever, just don’t spend any money. If you must buy something visit a local merchant, not a big corporate store. This is not about religious beliefs or Sunday shopping. It’s about us as a population uniting under a common goal and standing together. What WE need to do is take back control and plan our lives better. Spend Sunday planning your next week’s goals. WE have 6 days a week to buy things. Do you really need another big screen or IPOD that day?
WE have been conditioned to work, borrow and consume. Our year is full of holidays and seasons designed to make us spend our money. WE, collectively, and I mean all of us, must participate. A thousand people is pointless, 10,000 people means nothing, not even 1,000,000 people will have an effect. WE need everyone. WE need to send a message that will be heard.
WE need to stop being consumers of their system and be PRODUCERS of our own. What WE need to do is SAVE! The central banks and governments of the world want to free up lending by injecting more fiat money into the system. In reality, WE need to borrow less, spend less and save more. By not shopping on Sunday’s, WE will be working toward that goal. This is such a small step but one that is achievable. If WE can get the message out there so enough people adjust their spending habits we can then move forward together.
The second battle is to bombard our governments with e-mails, letters and peaceful protests demanding the abolition of Sunday shopping.
Remember, this is not about Religion or Sunday shopping. The purpose of this movement is to unite us. We need to unite the people of all races and religions under a common goal. Imagine the feeling when we dictate to them and force them to implement and comply with our policy. If we can accomplish this one goal, it would be our first victory as a united population.
Please help in this effort by sending this on to everyone you know. Together WE can make a difference, divided WE will surely fall. Governments and the central bankers got us in this mess; WE need to get ourselves out. For a different perspective on daily news, check out http://www.therealnews.com/
Much Love, A Commoner
http://saveyourmoneyday.blogspot.com/
rat Reply:
April 22nd, 2009 at 2:55 pm
A good piece writen there I will try to get up to that level as soon as I can.
April 21st, 2009 at 6:37 pm
It’s going to get worse, much worse as the insane financial policies of both
political parties over the past fifty years come to their inevitable conclusion. The
United States is bankrupt and soon the rest of the world will realize it. The days of
writing checks in the firm belief the rest of the world will not cash them are over.
The United States has had 89 years of being able to live beyond our means as a
result of being the world’s reserve currency. It’s over and the deconstruction of the
United States has begun. See http://www.thegrandawakening.com
April 21st, 2009 at 7:01 pm
http://www.youtube.com/watch?v.....r_embedded oh well alex made up new story’s yr busted
April 22nd, 2009 at 3:05 am
No NWO greetings from Germany
April 22nd, 2009 at 12:28 pm
anti-trust laws do not coincide with a libertarian view of the economy. Ron Paul does not support anti-trust laws. sheeple of infowars, please do some reading outside of this site.
April 22nd, 2009 at 4:52 pm
Assumptions build on assumptions — Recognize a liar or be his victim
Take Obama for example, when for 23 days our F16 fighter jets were used to bomb cute and cuddly babies in Gaza, and he did nothing during that time but say, “We have only one President… Bush torture must end…Bush bailouts not enough… Bush is not regulating banks…” Such is hypocrisy and such is a Lie by omission when one phone call to Israel from Obama and there would now be 1,400 more people alive and 6,000 less injured in Gaza.
Take for example the fact that sub-prime fraud was created in board rooms of the big banks now receiving billon dollar bailouts. No criminal investigation by Bush or Obama, so how can we continue to call Liar Bush a Liar without applying the same label to Obama?
And why should I honor either Dictator Bush or Obama by calling them my President? Especially when I was not so deceived as to vote for either one. Sorry gullible public opinion I need not suffer fools lightly, especially when your just an illusion, an opinion poll paid for by rich bankers.
April 23rd, 2009 at 10:23 am
Obama has put us on a fast track to becoming a thrid world nation.
April 24th, 2009 at 8:18 pm
Do you think this guy is aware of Austrian economics? Booms and busts don’t just come out of no where.
http://www.TheAustriansWereRight.com