Pages

Jump to bottom

1 comment

1 mikiesmoky2  Thu, Nov 17, 2011 1:20:37am

OCCUPY: HERE IS THE KEY TO BRING DOWN THE POLITICAL/ECONOMIC “HOUSE OF CARDS”:

Alan Greenspan’s testimony before the Senate’s Committee on the Budget on January 25, 2001, was SCRIPTED for him for the strategic purpose of enabling the 2001 tax legislation.
federalreserve.gov

Mr. Greenspan assisted in causing the 2000 recession with the Fed’s increases in early 1999 to reach a 6% federal funds rate during a 2% inflation period (remember Goldilocks??).

At the end of 2000, Mr. G and the Fed panicked, i.e., their efforts to cause a recession going into the 2000 elections worked too well.

On January 3, 2001, the Fed reduced rates by 50bps.

A BRIEF LESSON RE FOMC ACTIVITIES:
When the economics are strong, the Fed has the “tendency” to increase rates to “slow” the economy.
When the economics are weak, the Fed has the “tendency” to reduce rates to stimulate the economy.
These incremental changes are normally 25bps (1/4 of 1%).

DISCUSSION:
Since the reduction on January 3, 2001, was 50bps, the Fed appeared to have perceived more than a slight weakness in the economy.

Now comes his testimony, 22 days after the apparent “panic”:
He said that his #1 concern was that it would be problematic when we pay off the national debt with the projected “burgeoning” surpluses!!!

The two phenomena on Jan. 3 and Jan. 25 appear to be in conflict, i.e., oxymoronic, i.e., how could there be “burgeoning” surpluses if the economics were weak???

Whereas it is possible that, during that intervening 22 days, Mr. G and the other members of the FOMC accumulated additional data that caused a change in their collective perception, EXCEPT that 6 days later, on the 31st, there was another 50bps reduction AND 300bps more during the next 8 months.

REPEATING: The 2001 tax legislation was a setup.

INSULT TO INJURY AKA A CONSPIRACY TO DEFRAUD THE 99.9% OF TAXPAYERS::
Senator Obama said that if he were elected, he would reverse the Bush tax “cuts” for those with taxable incomes in excess of $250,000.
After he was elected, he “decided” to allow those subject tax “cuts” to expire on December 31, 2010, in accordance with the sunset provisions.
Finally, on December 17, 2010 (a date that should live in infamy), he signed legislation allowing the “cuts” to continue for another two years.
He claimed that it was the wrong thing to do, but he had no choice because the Republicans were holding HOSTAGES. The hostage-taking was his get-out-of-jail-free card, which enabled him to sign the legislation.

CONCLUSION: Yes, there is “class warfare” and it began, in earnest, in 1981, causing a massive shift of wealth from the middle-class to the top 0.1% of income recipients.
This phenomenon has adversely affected our capitalistic engine.

mz
mikiesmoky@aol.com


This page has been archived.
Comments are closed.

Jump to top

Create a PageThis is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.
Or... you can just click this button to open the Pages posting window right away.
Last updated: 2016-01-01 10:29 am PST
LGF User's Guide RSS Feeds Tweet

Help support Little Green Footballs!

Subscribe now for ad-free access!Register and sign in to a free LGF account before subscribing, and your ad-free access will be automatically enabled.

Donate with
PayPal
Square Cash Shop at amazon
as an LGF Associate!
Recent PagesClick to refresh
Ratched You deserve someone to show you mercy. From the creator of American Horror Story, witness the origin of one of the world's most iconic characters, Nurse Ratched. Sarah Paulson stars in Ratched, coming to Netflix on September 18. SUBSCRIBE: ...
Thanos
13 hours, 35 minutes ago
Views: 122 • Comments: 0 • Rating: 0
Tweets: 0 • Share to Facebook
The Jaded Hearts Club - Reach Out I’ll Be There (Official Video) The Official Video for Reach Out I'll Be There by The Jaded Hearts Club. The new album You've Always Been Here is out 2 October, pre-order now: jadedhearts.lnk.to Listen to We'll Meet Again / Reach Out I'll Be There: ...
Thanos
14 hours, 2 minutes ago
Views: 134 • Comments: 0 • Rating: 0
Tweets: 1 • Share to Facebook
Raised by Wolves — New Ridley Scott Television Series Mother was programmed to protect everyone after Earth had been destroyed. When the big bad wolf shows up, she is the one we must trust. Subscribe: bit.ly Be the first to know more:HBO Max: hbom.axLike HBO Max on Facebook: ...
Thanos
2 days, 12 hours ago
Views: 258 • Comments: 0 • Rating: 0
Tweets: 3 • Share to Facebook
Black Pumas - Confines (Official Live Session With String Quartet) “Confines (Live in Studio)” is available now to stream/download. It is from the deluxe edition of the Black Pumas’ debut album which will be released digitally August 28 and physically October 9. Pre-order in 2xLP, 2xCD and digital formats: ...
Thanos
4 days, 10 hours ago
Views: 371 • Comments: 0 • Rating: 0
Tweets: 3 • Share to Facebook
Orville Peck - Smalltown Boy (Official Audio) Official audio for Orville Peck’s cover of "Smalltown Boy" by Bronski Beat out now: orvillepeck.lnk.to Pre-save / Pre-add Orville's new EP Show Pony here: orvillepeck.lnk.to Amazon - orvillepeck.lnk.toApple Music - orvillepeck.lnk.toiTunes - orvillepeck.lnk.toSoundcloud -  orvillepeck.lnk.toSpotify - orvillepeck.lnk.toYouTube Music - orvillepeck.lnk.toYouTube -  orvillepeck.lnk.to Follow Orville PeckFacebook - facebook.comInstagram - instagram.comTwitter - @orvillepeck orvillepeck.com LyricsTo ...
Thanos
5 days, 10 hours ago
Views: 420 • Comments: 0 • Rating: 0
Tweets: 6 • Share to Facebook
Norah Jones - to Live "To Live" is taken from Norah's newest album 'Pick Me Up Off The Floor,' out now and available to stream/download here: norahjones.lnk.to Connect with Norah:norahjones.cominstagram.comfacebook.com@NorahJones See Norah live: norahjones.com Music video by Norah Jones performing To Live. © 2020 ...
Thanos
1 week, 2 days ago
Views: 602 • Comments: 0 • Rating: 0
Tweets: 1 • Share to Facebook
Future Islands - for Sure (Official Video) 'For Sure' by Future Islands, out now on all platforms: futureislands.ffm.to A Film by Samuel Jerome MasonFinishing by John HarrisonRendered with GarageFarmSpecial Thanks to Anna, Jemima, Mike, Willy, Saad, Eric, Arsen Perish the painI was impoverishedThose ties that windAnd ...
Thanos
1 week, 2 days ago
Views: 603 • Comments: 0 • Rating: 0
Tweets: 2 • Share to Facebook
Andrew McMahon in the Wilderness - Get on My Wave I wrote and produced “Get On My Wave” with Kyle “King Tuff” Thomas the day we met last summer. I’ve struggled with releasing the song during the pandemic because it felt too happy; detached from the tumult of our ...
Thanos
1 week, 2 days ago
Views: 595 • Comments: 0 • Rating: 0
Tweets: 2 • Share to Facebook
J. Balvin, Dua Lipa, Bad Bunny, Tainy - UN DIA (ONE DAY) Stream "UN DIA (ONE DAY)" on your favorite streaming platform: jbalvin.lnk.to Subscribe to my YouTube channel here: youtube.com Connect with J Balvin on socials: instagram.com@jbalvinfacebook.comtiktok.com LYRICS Dua Lipa:You know sometimes I think about us Now and thenBut I never ...
Thanos
1 week, 2 days ago
Views: 628 • Comments: 0 • Rating: 0
Tweets: 2 • Share to Facebook
Travis - a Ghost (Acoustic Isolation Video) The official Acoustic Isolation Video for A Ghost by Travis. The new album 10 Songs is out 9 October, pre-order now: travis.lnk.to Listen to A Ghost: travis.lnk.to Production Company: Gezellig Studio  Video Director: Fran Healy Cinematographers: Clay Kryst, Sam ...
Thanos
1 week, 4 days ago
Views: 718 • Comments: 0 • Rating: 0
Tweets: 1 • Share to Facebook