Will presidential primary candidates deal with the REAL news that is happening as the worthless, corpstream MSM media almost ignore it. Today, global markets saw their worst day since 9/11. NINE ELEVEN!. And we hear about minutiae about the Florida Primary, about Rudy Giuliani's failing campaign. Wake Up America!! We are in dire economic danger.
On Sunday, the business headline in my local daily, the Philadelphia Inquirer, reported "DOw's Worst January Ever."
Today, markets plummetted all around the world. Over $120 billion of equity vanished into thin air in one day in England, $480 billion in Europe. Poof, gone!! And that doesn't include Additional markets in France, Germany, India, Asia all dropped about 7% the financial times reported. "The worst single day for global equity markets since the terrorist attacks of September 11 2001."
They don't add up the numbers, but it is likely that over a trillion dollars in equity , disappeared. Tomorrow, Tuesday, American investors will respond to this calamity.
Will the DOW and NASDAQ echo the disaster in the UK and elsewhere around the world?
It is likely that fear will rule and the bears will run amok. EXpect a very bad day.
Reuters reports "Dow Jones industrial average futures DJc1 dropped 546 points or 4.5 percent. Should the Dow close lower on Tuesday by the amount the futures suggest, it would rank as the fourth-largest point loss ever for the index."
This has been coming and it is just the first wave.
The USA's economy is caving in. The war in Iraq has pulled real money out of the US and now, we face, due to criminally bad leadership and decision making, days, months and years to come of hardship that have not been seen in decades.
Fear has been breeding in America and it could explode tomorrow.
Experts are talking about the need to convert stock holdings to commodoties-- particularly gold.
They're talking about taking money out of money market accounts. Don't be surprised to see lines at your bank tomorrow.
I hope I'm over-reacting.
Meanwhile, the democratic candidates are talking about simple tax cuts. It's not like I expect them to voice simple solutions. But they should be saying that the economy is in very big trouble. Within the first five minutes of the debate, Clinton, Edwards and Obama should have all brought up the international market crash that happened today. They didn't.
If they're going to win the elections, come November, they must grapple with this monster head on. They must put the light on it and tie it to the Iraq war and the hundreds of billions of dollars that have been siphoned out of the US economy.
The solution to the economic disaster we face is to stop the war immediately, get out, get our troops home and then pour even more than we were spending in Iraq to build America-- developing big projects, which hire millions of people.
Rob Kall is executive editor and publisher of OpEdNews.com, President of Futurehealth, Inc, inventor . He is also published regularly on the Huffingtonpost.com. He is a frequent Speaker on Politics, Impeachment, The art, science and power of story, heroes and the hero's journey, Positive Psychology, Stress, Biofeedback and a wide range of subjects. He is a campaign consultant specializing in tapping the power of stories for issue positioning, stump speeches and debates. He recently retired as organizer of several conferences, including StoryCon, the Summit Meeting on the Art, Science and Application of Story and The Winter Brain Meeting on neurofeedback, biofeedback, Optimal Functioning and Positive Psychology. See more of his articles here and, older ones, here.
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to either write about and report on Paul's policies and approaches or use quicklinks to point to articles on his ideas on how to solve our current situation-- not general libertarian theories.
by
Rob Kall (762 articles, 3850 quicklinks, 321 diaries, 1642 comments)
on Monday, January 21, 2008 at 8:31:12 PM
The rEVOLution is showing everyone who's mind is open HOW WE CAN take back our country and this economy. That $20 million is not from multinational corporations...it's from us little guys. I hope you have time to watch the interview, and Rob, I thank you for your open mind.
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Jeanette Doney (0 articles, 0 quicklinks, 6 diaries, 304 comments)
on Tuesday, January 22, 2008 at 8:10:10 AM
And he's certainly spoken for me with his stand on economic globalism. But I'm not sure I've heard his solutions to the current mess with housing, mortgages, etc. I'd like to know more.
It's really not that helpful to just throw out your candidate's name and say he has the answer, without spelling it out at least a bit-- Kucinich, Paul, whoever.
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Rob Kall (762 articles, 3850 quicklinks, 321 diaries, 1642 comments)
on Monday, January 21, 2008 at 8:34:36 PM
AMI is the American Monetary Institute, which for 11 years been trying to educate American on what is money, which our government-controlled education system has deemed fit to keep its citizens ignorant. And for a very good reason! Mrs. Kucinich came to the 2007 annual meeting, due to limits to Dennis's schedule. Ron Paul is supportive of AMI's efforts but was unable to attend due to scheduling conflicts. Ron explained his position last year here:
I've summarized AMI's efforts at GreatRedDragon.com under "A REAL [First Step] Solution To REAL Economic Problems." The simple act of putting the Federal Reserve under control of the Treasury Department would eliminate much economic mischief by international bankers simply by NOT receiving interest payments on OUR money that the Federal Reserve creates out of nothing.
Of course, after the powers that be saw the efforts being made by AMI, they created a bill that would remove the US Mint(s) and the Bureau of Engraving and Printing from the US Treasury and put it under control of the Federal Reserve.
Fortunately, that hasn't gone anywhere, yet. But it still sits on the shelf. Of course, people don't give a damn. But when they see what happens to the stocks that make up their pensions, their money market accounts folded, or gasoline at $10 per gallon, maybe they'll think about it then.
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Edward Ulysses Cate (0 articles, 0 quicklinks, 0 diaries, 217 comments)
on Monday, January 21, 2008 at 9:20:17 PM
Keep the faith everyone. The sky is our roof, the ground is our bed. Things will not disappear, the sky is not falling. We are wittnessing a change in values.
Equity gone is no loss, when you really had none to begin with. What is developing is a credit worthiness market. It will come, despite the negativity toward it, because banks have no other choice, but to expand it, and provide security to patrons. As I have state in prior Posts, there will come the 2 Loan Mortgage Housing Policy. It will bring stability and end the fear of American defaults. Also our American Tax system, will use taxes to pay insurance premiums, that cover our indebtedness so the idea we as a nation will loose in defaults will be insured, and protected. This will change the BEARS into BULLS again.
It will be impossible for the markets to collapse, because of the end result I have projected. We are only in the adjustment modes now.
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Dom Jermano (20 articles, 0 quicklinks, 40 diaries, 934 comments)
on Monday, January 21, 2008 at 8:49:07 PM
runs on banks,which in turn start riots, which in turn brings martial law. Those that have not stored away food staples I recommend you do so now.
Plant a garden, store some water in light proof containers. Crank up that old short wave radio and get real news from overseas. City dwellers think about country living, like NOW. Whatever happens tomorrow I thank You Rob for this great forum. We may actually have to start talking to our neighbors again before this is over, I cant figure out why we ever stopped.
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john riggs (0 articles, 0 quicklinks, 0 diaries, 395 comments)
on Monday, January 21, 2008 at 8:54:18 PM
Merrill Lynch was supposed to send me retirement money and no one responds to emails my employere sends..I think this is like the Enron retirement plan:Steal the money and cook the books...Way too many crooks have gotten away with so much ,so long that we must face the music..The good news ,a chance to start really living sustainably..I think I wiil go buy a good bicycle tomorrow..Jean
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mcmahon (0 articles, 0 quicklinks, 0 diaries, 11 comments)
on Monday, January 21, 2008 at 9:04:58 PM
Tonight, just as word was getting out the DOW futures were down 500 some points, miraculously, it turned around and now is up 35 points. The world markets are in freefall and the US stock market has a 500 plus point turn around in a matter of minutes?
This smells pretty fishy to my nose. How long can DC's plunge protection team keep the shell game going? Just as bundling worthless paper and bad loans into investment vehicles, somehow getting them AAA rated and then dumping them to unsuspecting world banks and pension funds came crashing down, government manipulation of the markets will not meet a pleasant end.
The longer this crap continues, the more painful the end result will be. Can the crash be put off until after the election? I guess we'll find out. Get the popcorn ready and pull up a chair, when the corruption at the SEC goes mainstream, the bloodbath will commence in earnest.
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brisa (0 articles, 0 quicklinks, 0 diaries, 9 comments)
on Monday, January 21, 2008 at 8:59:06 PM
FYI the economy will continue to fall until around April (home building, home sales, value and all) that will be the bottom I'm told, by June it will be turning around and by the election in November the U.S. dollar will be back to where it was a few months ago and the economy will be on track.
No need to panic this isn't the begining or the end of economic decline, and I'd bet your life wont change much. Did it change in the recessions of the 90'S?
In Argentina banks closed in the 90's. In the U.S. banks closed when? in the 30's? Our economy is not in that bad a shape silly. Every thing will be o.k. No body will be taking their money out of the banks unless they want to go shopping.
by (0 articles, 0 quicklinks, 0 diaries, 2 comments)
on Monday, January 21, 2008 at 9:03:59 PM
Those of us who KNOW and have been watching - I posted on this in August, remember ? an article LOADED with links, btw, mostly ignored ..
The US had dollar hegemony, now in six short months it's gone.
This is a NIGHTMARE Of dimensions to which no one has a clue as to how long it will go on for, or what the next development MIGHt even be.
ALL the candidates have been lieing to the US public - the friggin CITIZENS, with the exception of Dennis Kucinich who has the intelligent Dr. Michael Hudson as his top economic adviser. Does Dennis have an economic plan, you BET! I am on Dr. Hudson's group, I watch everything they say and do the research that is suggested.
This url will take you to a site that will suggest to you that Dennis has been working for a very very long time on this issue. Rin Paul is simply WRONG on so many issues as the Austrian economics doesn't deal with superglobalism. This is the era we are now in.
There is economics that is known as the Third Path, which has to do with everyone being invested in the entity they produce for -- it's NOT socialism and of course the financial press doesn't want you to know about it! They are still in denial and delusionland themselves.
Greed on "their" part ( a fatal gambling addiction), ignorance on our part, and just plain stoopid foreign policy has proven to be a toxic brew. Throw in lack of regulatory oversight and BAM! the market is COOKED.
I not "tooting my own horn" but I saw this coming - I've tried to warn people. I know WHO the good sources of information are. I post about this CONSTANTLY on my blog and am trying to build up a swicki with the help of financial journalists for everyone to use. But I need a better list of GOOD urls to send people to than I have before I can accomplish that. But there is a swicki on planetary healing on my blog that has quite a few, real TRUE sources of information - you are about to be fed an entire lot of cod's wallop!
Get Educated!! Educate your kids!! The time is here. Peak oil, peak dollar, peak everything .. and the war crimes continue.
For heaven's sake, demand IMPEACHMENT and get the rule of law "back on the table" - the devastation will be ENORMOUS if we don't get those hearings going and hold those responsibile to account.
End of rant- DUMP PELOSI!! This woman caused alot of this grief and she is huddle over PHONEY and ridiculous spreadsheets cooked up by Hank Paulson as I type this .. leaving ALL progressive legislators OUT of the discussion .. she is our democatic finanacial Joe Lieberman.
If anyone who comes by here has forty bucks subscribe to peoplenomics.com. Right now that the BEST place to get REAL information - and you'll be current when you come on OpEd News to discuss what is REALLY going on .. I don't mean to put this on here as promotion . there's nothing in for me .. it's just that is gonna to be necessary to get a RELIABLE source of information in the upcoming days.
by
ladybroadoak (37 articles, 20 quicklinks, 12 diaries, 392 comments)
on Tuesday, January 22, 2008 at 12:39:38 AM
The Global Elite's goal is to kill us off. Permanent worldwide blackouts were already "predicted" (via the Peal Oil hoax). Enough people better start learning what's going on. See my blog for information:
According to Christopher Story, editor of "Global Analyst", there's a top secret military team executing certain key members in the government. See the recent articles linked here.
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CB Brooklyn (0 articles, 0 quicklinks, 0 diaries, 403 comments)
on Monday, January 21, 2008 at 9:13:52 PM
... it may be Prague Spring... or it may be Kristallnacht. If I had any money to bet... it would be on the latter. This is no "cyclical market" wobble. This is the beginning of the end of "monitary culture."
The actual end will come by Spring.
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waldopaper (11 articles, 3 quicklinks, 22 diaries, 398 comments)
on Monday, January 21, 2008 at 9:27:31 PM
Ron Paul has been saying, not just since the first debate, but for years, that the failed Federal Reserve policy of managing the economy via interest rate manipulation and infusions of cash, i.e. expanding the money supply, creates artificial 'bubbles' and increases the troughs and peaks of economic cycles. These cycles beneift only futures traders, who treat our economy like a casino- betting on winners and losers, and the banking interests who control the Fed- who benefit from the 'fire-sale' that goes on after the collapses in order to consolidate their holdings at bargain-basement prices with the cheap dollars they themselves created!
No one else has the guts or even the intellectual capacity in the Presidential race to confront this very non-sexy but most critical aspect of our economic reality. Many in the government and the media can't get their heads around the monetary crisis in a 30-second sound bite or a two-sentence wizardry of throw-away punditry, so they ignore it and dismiss Dr. Paul as a 'Fringe' 'kook', by which they themselves reveal their own intellectual dishonesty and shortcomings. Ron Paul has written more books and papers about economic policy and structure than any of his opponents have even READ!
NOW is the time to talk about a total reordering of the American economic system. Leaving our money supply (and thus the reins of our economy!) in the hands of private bankers whose selfish interests come first and foremost ahead of the American People has proven disasterous at least three times in our nation's history. People have fought and died to prevent the establishment of a national bank, precisely for the reason that it consolidates too much power in the hands of too few people, who are accountable to no one. Why did President Andrew Jackson feel so strongly about his greatest accomplishment that his tombstone reads 'I Killed The Bank'?
Now, most politicians talk about 'tweaking' the economy with 'targeted tax breaks' and 'incentive packages'. These naiive and disingenuous proposals are nothing more than rearranging the deck chairs on the Titanic. As Dr. Paul has said, if he as a physician saw that a treatment was not working on a patient, yet continued to add MORE of the same treatment, he would be sued for malpractice. The self-appointed 'leaders' of this economy should be sued for economic and fiscal malpractice, as their continuation of short-term fixes and continual bail-outs to the tune of billions of dollars for their well-connected friends in the financial realm has led to the biggest financial bubble in history, and what we now see is the beginnings of a downturn that will make the great collapse of 1929 look like a mere hiccup.
It's time to stop denying the obvious. The economy is in the hands of those who care only about their personal gain, to the detriment of everything and everyone else.
xtrabiggg
+++++++++++++++++++++
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xtrabiggg (2 articles, 0 quicklinks, 1 diaries, 31 comments)
on Monday, January 21, 2008 at 9:33:13 PM
gor fuckall... you really don't GET IT, do you? "Reorder the economic system?" There IS NO "economic system."" There IS NO "government." Right now, it's just what you and I will be dealing with in a few months... only on a more abstract, global level... which is: people shooting each other for toilet paper.
See you on the other side.
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waldopaper (11 articles, 3 quicklinks, 22 diaries, 398 comments)
on Monday, January 21, 2008 at 10:00:20 PM
If you are not being sarcastic and truly believe your statement, then you should probably EAT the shotgun rather than 'shoot someone for toilet paper'. I'd prefer to look for less apocalyptic solutions and try to educate and enlighten people about their ooptions before resorting to anarchy and chaos. This isn't Iraq... yet.
xtrabiggg
+++++++++++++++++++++
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xtrabiggg (2 articles, 0 quicklinks, 1 diaries, 31 comments)
on Monday, January 21, 2008 at 10:14:43 PM
What's even scarier are the potential ratings cuts for bond insurers. According to Bloomberg, the largest, MBIA and Ambac Financial "have a more than 70% chance of going bankrupt."
well., the shock doctrine [this is disaster capitalism] would have about "now" as a good time for McBushie and the 'have mores' to strip the mine bare. Or SOMETHING pertaining to that. The fox is in the house.
by
remo (0 articles, 0 quicklinks, 0 diaries, 22 comments)
on Monday, January 21, 2008 at 10:04:28 PM
Only Ron Paul has an understanding of what is really happening to the US dollar and our economy. He has studied, written and spoken about US and international monetary policy for 40-some years and sits on congressional oversight committees on the economy, finances and monetary policy.
You have been writing about Ron Paul. You should know this!
As we head into a Fed-created recession, Paul alone among the surviving candidates is qualified to comment authoritatively on the problem, and the financial/market show commentators all know this. It would be ludicrous for them to host Romney, Hillary or anyone else when they could have Paul as a guest.
Representative Paul serves on three Congressional committees:
* Committee on Financial Services _Ranking Member - Subcommittee on Domestic and International Monetary Policy, Trade and Technology _ Subcommittee on Oversight and Investigation
* Committee on Foreign Affairs _Subcommittee on International Organizations, Human Rights and Oversight _Subcommittee on Western Hemisphere
* Joint Economic Committee
Visit the Ron Paul Library (online), a collection of over 1,000 articles and speeches by Ron Paul, especially this section on the economy and monetary policy: http://www.ronpaullibrary.org/topic.php?id=9
by
Jim McClarin (0 articles, 0 quicklinks, 0 diaries, 3 comments)
on Monday, January 21, 2008 at 10:49:53 PM
