EU, US call for a global finance summit

Thursday 16th October, 06:48 AM JST

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15 Comments

some14some at 07:15 AM JST - 16th October

to forge common action to prevent another economic meltdown.

'Another' economic meltdown? 1st one hasn't started yet, or are they refering to 'financial meltdown'? In anycase, summit will be further waste of money. Solution if any lies with market players or money militants (financial terrorist?).
SuperLib at 11:17 AM JST - 16th October

Pretty creepy article from 1999 talking about new lending policies and how it might come back to haunt us:

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260
sabiwabi at 11:19 AM JST - 16th October

What they should do is to indict all the criminals behind the current financial system in the US and abroad, and get rid of the FED.
taniwha at 05:34 PM JST - 16th October

What they should do is to indict all the criminals behind the current financial system in the US and abroad, and get rid of the FED

Well, that raises a few questions.

How would you decide who is a criminal? The 'current financial system' has been put in place incrementally, so when are you saying the 'current' version began? The FED has been around for a nigh on 100 years, what does it have to do with the 'current' set up?

You mean get rid of Capitalism with a big 'C', or just American capitalism?
coulrophobic at 05:40 PM JST - 16th October

"The 'current financial system' has been put in place incrementally, so when are you saying the 'current' version began? "

By who?

Is it the secret handshake crowd, in faraway Zurich?

Come on, taniwha.

Name some names.
taniwha at 06:37 PM JST - 16th October

Nice to have such a committed fan as Coulrophobic here on the threads of JT. Especially one with such a need for knowledge, and names.

The ruling elite/financial aristocracy is present in every capitalist country, that's a lot of names.

The US has been at the apex of the world capitalist system since at least the end of the Great Depression, making the ruling class in America and their interests the most affecting for the majority of the world's population. It must be particularly galling then for this thin layer of the American population that now they find they find themselves running to the table when the Europeans call upon them.

This ruling elite in the US are the top 1 % of US households that at least in 2005 accounted for 21.8 % of all pre-tax income, twice the figure in 1970s. This represented the greatest concentration of income since the year before the onset of the Great Depression, 1928, when about 24 % of national income went to the top percentile.

To a large extent, the riches of the wealthiest and most politically influential figures in the ruling elite today are bound up with the decay of the productive base of the United States. The hedge fund billionaires and banking moguls of today amassed in the space of a few years the type of personal fortunes that the Fords, Carnegies, Duponts and Rockefellers took decades to accumulate. They dispose of levels of wealth in their everyday lives that would have been inconceivable a few decades ago. And the manner in which the new financial aristocracy makes its money, apart from the vast sums involved, necessarily imparts to its social being a pervasive element of criminality.
sabiwabi at 07:32 PM JST - 16th October

The 'current financial system' has been put in place incrementally, so when are you saying the 'current' version began?

It was imposed onto the American people by deception. Eustace Mullins details it nicely. The info we are being fed from the mass media is BS. Americans don't realize they are being fleeced intentionally (once again).
taniwha at 07:38 PM JST - 16th October

>

Eustace Mullins details it nicely

Could you post a link to Mullins.

The info we are being fed from the mass media is BS. Americans don't realize they are being fleeced intentionally (once again).

I agree.
taniwha at 07:54 PM JST - 16th October

Okay, don't worry about the link. Enough about Mullins already.

I think the US mass media feeds the masses a line, a spin. There was though for a time a workable fourth estate, that did function as a defender of public interest to a point. They probably stopped doing that about 3 decades back. Watergate was probably the last stand of the fourth estate. Certainly since the beginning of the Bush jnr administration the fourth estate can be considered extinct.

The US mass media are now complicit with the worst of Washington's criminality. But that makes sense since the mainstream media at least is now nothing but a platform for the dissemination of ideology, dictated to them by their corporate owners. All discussion is limited by the interests of the ruling class (them again).
SuperLib at 04:46 AM JST - 17th October

To a large extent, the riches of the wealthiest and most politically influential figures in the ruling elite today are bound up with the decay of the productive base of the United States. The hedge fund billionaires and banking moguls of today amassed in the space of a few years the type of personal fortunes that the Fords, Carnegies, Duponts and Rockefellers took decades to accumulate. They dispose of levels of wealth in their everyday lives that would have been inconceivable a few decades ago. And the manner in which the new financial aristocracy makes its money, apart from the vast sums involved, necessarily imparts to its social being a pervasive element of criminality.

zzzzzzzzzzzzzzz

One could easily trace the source of the problem to low income buyers, the exact opposite of the people you're indicting. And the other half was made up by large corporations including Fannie Mae and Freddy Mac which, last I checked, aren't controlled by sinister American families hoarding wealth.

You're obviously someone who hates wealthy people so you're using this situation to place imaginary blame on these nameless, faceless, "ruling elite" or whatever catchy phrase you're using today. And it's mostly just a waste of everyone's time.
SuperLib at 04:48 AM JST - 17th October

It was imposed onto the American people by deception.

Just about every major news story contains a thread from you talking "deception" and "connect the dots" and yadda yadda yadda. You're addicted to conspiracy theories, mostly likely because you're addicted to the feeling that you know something that others don't.
taniwha at 09:34 AM JST - 17th October

You're addicted to conspiracy theories, mostly likely because you're addicted to the feeling that you know something that others don't.

Guess so. I've been posting on JT that all of this would happen since just before the invasion of Iraq went ahead in 2003. I also have posted the reasons why. Its in the JT archives, dude. I didn't dream up the conspiracy theories that led to the war on terror or to the coming deep and long recession, Washington did along with their buddies on Wall Street, and abroad.

Oh, you mean the one where the world's financial system collapses? Or the one where the parasitic activities of greedy corporate speculators on Wall Street and in Washington bought the US financial system became a virtual black hole that sucked the world economy into its vortex? Or the one where the war in Iraq would be a financial and political disaster for Washington? Or the one where the war on terror would create more terrorism in the war rather than less, drag in more countries like Turkey?

Oh, yeah, forgot, they were all accidents, no one could have foreseen, the result of no planning what so ever.

Guess those excuses will hold up in the history books.

Guess some of us don't know the difference between a pretend conspiracy, such as reason d'etre for the war on terror, and the invasion of Iraq, and the bail out of Wall Street, and a real conspiracy. Even when they are living it.
SuperLib at 11:23 AM JST - 17th October

(backing away slowly from taniwha)

Ok buddy....whatever you say....
taniwha at 11:50 AM JST - 17th October

Pressed the 'submit' instead of 'preview', it happens. Apologies. Here's what the reply.

You're addicted to conspiracy theories, mostly likely because you're addicted to the feeling that you know something that others don't.

Guess so.

There’s the one where the world's financial system collapses. Or the one where the parasitic activities of greedy corporate speculators on Wall Street and in Washington bring the US financial system became a virtual black hole that suck the world economy into its vortex. Or the one where the war in Iraq becomes a financial and political disaster for Washington. Or there’s the one where the war on terror creates more terrorism in the world rather than less, and drags in more countries like Turkey.

Oh, I forgot, they were all accidents, that no one could have foreseen, the result of no planning what so ever.

Guess those excuses will hold up in the history books.

Anyway, it seem that some of us don't know a conspiracy such as is the reason d'etre for the war on terror, and the invasion of Iraq, and the bail out of Wall Street, even if we are the ones who suffer its effect.

I've been posting on JT that all of this would happen since just before the invasion of Iraq went ahead in 2003. I also have posted the reasons why. Its in the JT archives, dude. I didn't dream up the conspiracy theories that led to the war on terror or to the coming deep and long recession, Washington did along with their buddies on Wall Street, and abroad.
taniwha at 12:01 PM JST - 17th October

And its still got typos.

So what about the EU, US global summit? Think it will find the solution to funnelling more money faster to the banks and corporations in these coming times of hardship. You almost have to feel pity for that lot, don't you? How are they going to make the population continue to believe in capitalism anymore?

There should be plenty of work in doing just that for the advertising companies. Perhaps it will be the biggest challenge they've ever been given. Making the masses believe capitalism works for them.