re: "an interview that should turn the faces of legitimate press red with shame"

WHAT "legitimate press"?

The airwaves are filled with nothing but pathetic corporate shills and right wing bloviators -- with the latter all the while carping about the "liberal media". What a joke! Where was the "legitimate press" in the run-up to the Iraq War? Or for that matter, in investigating Dubya's background when he was running in 2000? They sure as hell weren't on the mass media, which in the case of Iraq was falling all over itself to repeat the neocon talking points on WMDs. Even the New York Times, the "paper of record", ran nothing but Judith Miller garbage that had been spoon fed to her by the neocons.

Seriously, does anyone expect that, for example, a reporter on NBC is going to do a hard-hitting expose on the trillions of dollars wasted by the military on worthless cold war weapons systems? Of course not -- NBC is owned by General Electric, one of the biggest defense contractors!

The only place one can find any sort of real journalism and tough questions is on various blogs. But, unfortunately, the people who read such blogs (like Salon) are all pretty much in the choir, so nothing filters out to the mainstream.

This is, of course, all by design. The powers that be prefer not to be scrutinized too closely, so they rely on their rich media pals to tow the party line. One hand washes the other. The MSM is effectively just another arm of the government.

Friday, August 10, 2007 04:40 PM

http://tinyurl.com/58488w

Friday, August 31, 2007 12:16 PM

http://tinyurl.com/5h2me5

So, either I'm a genius or (more likely) this has been clear to the powers that be for at least as long as it has been clear to yours truly, and they've been lying through their teeth in the hopes that by the time the shit really hit the fan they'd be long gone, living in Paraguay with their own personal stash of gold bars and a small private army for protection.

This was inevitable. We're about to reap the whirlwind.

Yes, my old friend, we saw it all coming many years ago and tried to warn any who would listen. I must thank you again for pointing me to so many different articles over the years that increased my own understanding of the nature and magnitude of the problem. I suppose the sunny optimist in me wanted to believe that we were horribly wrong and had somehow missed some vital information to the contrary, but apparently we did not.

It is cold comfort to know that we were right and that all that we hold dear has been laid waste by a gang of criminals so obvious and stupid it's hard to believe they hold public office. It is frustrating beyond belief.

It will be grimly fascinating to witness the unraveling of it all. We're entering dangerous, uncharted waters here. God only knows where this will take humanity.

That the market "only" went down 500 points is a function of the Plunge Protection Team. Their actions, of course, only further distort the economic reality.

SEE:

Plunge Protection Team

http://www.washingtonpost.com/wp-srv/business/longterm/blackm/plunge.htm

"We have the responsibility to prevent major financial market disruptions through development and enforcement of prudent regulatory standards and, if necessary in rare circumstances, through direct intervention in market events".

-Remarks by Chairman Alan Greenspan at the Catholic University Leuven, Leuven, Belgium (January 14, 1997)

http://www.federalreserve.gov/Boarddocs/Speeches/1997/19970114.htm

From the Secretary of the Treasury we hear:

"The root of the problem lies in this housing correction and until we stem the housing correction, until the biggest part of that is behind us and we have more stability in housing prices, we're going to continue to have turmoil in the financial markets," Mr Paulson said.

http://www.abc.net.au/news/stories/2008/09/16/2365548.htm

THEN WE READ...

Home prices to fall on liquidity concerns: analyst

The collapse of Lehman Brothers Holdings Inc (LEH.N) and takeover of Merrill Lynch & Co Inc (MER.N) will cause liquidity in the credit market to shrink, resulting in lower home prices, prominent U.S. banking analyst Meredith Whitney said.

The Oppenheimer & Co analyst also expects fewer mortgages to be available for prospective homeowners, as she sees no hope for the return of the mortgage securitization business.

"All this creates a recipe for meaningfully lower U.S. house prices," Whitney said.

http://news.yahoo.com/s/nm/20080916/bs_nm/usbanks_research_oppenheimer_dc_1

The economy is melting down. The MILF from Alaska is old news.

re: "In other words, the only hope for the housing market is to get some more income into Joe and Jane Sixpack's wallets.

Aside from the fact that we may enter into a hyperinflationary depression ( SEE: http://www.shadowstats.com/article/292 ), that's not going to happen.

So, no recovery is even possible until housing prices stabilize. But they can't stabilize until there is a recovery!

It's a vicious cycle downward, predicted by yours truly over a year ago, here:

http://tinyurl.com/58488w

Welcome to The Great Depression II: Bush's parting gift to America.

McCain/Palin

"The bridge to nowhere"

~~~~~

McCain/Palin

"Thanks, but no thnaks"

McCain/Palin

"The bridge to nowhere"

~~~~~

McCain/Palin

"Thanks, but no thanks"