I don’t know if he’s delusional and really believes what he’s saying or if he’s so used to saying the opposite of the truth that the lies just flow naturally out of his mouth. I just don’t know. But this I do know: the truth about anything is the opposite of what Obama claims to be the case. I just have to point to Obamacare to prove that point.
Fox News this morning is reporting that Obama’s Syria policy has failed. It’s more like Obama’s Presidency has failed.
Obama made the claim yesterday that the movie, “The Big Short” is a lie and that his Presidency reigned in Wall Street and made “the financial system more stable.” But the truth is that not only is “The Big Short” 110% true, the reality is that Wall Street’s fraud and criminality is worse now than it was during the housing bubble.
The reforms passed by the Obama Government not only did nothing to clean up Wall Street, but in fact these reforms were nothing more than acts of misdirection which enabled Wall Street to engage in even more recklessly fraudulent business activities.
This point of fact really struck hard the second time I watched the movie (two weeks ago). Not only is Wall Street’s lending and securitization activities just as corrupted now as it was then, it’s actually worse because it extends beyond mortgages and into any asset class which can be monetized with debt which is then packaged into derivatives-enshrouded “structured financial” instruments.
In 2008 the public was forced by Obama to bail out the securities divisions of the big Wall Street banks. After 2008 every big securities converted into a bank holding company. This has enabled all the big banks to shift their derivatives holdings out of their securities units and into their FDIC-insured bank holding shells. This time around the country will be asked to not only bail collapsed securities units, but the also the entire bank.
I suggested back in 2003, after I realized what was really happening in this country vs. the media-fed propaganda gobbled up by a dumbed-down, naive and faith-driven public, that the elitists would hold up this country with printed money and credit-based Ponzi schemes until they had swept every last crumb on middle class wealth off the table an into their pockets. Unfortunately for those of you who are worth several million based on whatever value measurement of your assets you want to use, you are middle class.
The truly wealthy strata of elitists are ones who have enough spare cash sitting in offshore tax haven accounts to buy several of their own Congressmen. Hillary Clinton may be worth $10’s of millions that have been transferred to her by these elitists, but she’s no more than a pawn. She will be destroyed or put out to pasture with the likes of Jon Corzine or Franklin Raines when they are done with her. The rest of us are mere ants, waiting to by squashed by Orwell’s “boot stamping on a human face.”
The U.S. financial system is edging closer every day to a collapse that will make everyone long for simply a repeat of 2008. The amount of debt that has been assumed by all segments of the system is far greater now than it was in 2008. Same with the amount of derivatives connected to this debt. The only difference is that the rules were changed by Congress and the SEC to enable the banks to more effectively hide the truth.
I had a long conversation with Paul Craig Roberts last night and we both agreed that if applied a true market to market on the pension system in this country, just about every single pension fund would be 80-90% underfunded at the very least. An underfunded pension is no different than a securities account on margin. The looming pension disaster is one of the primary reasons the Fed is working overtime to keep the stock market from collapsing.
The wife of a friend and colleague of mine is reading “1984” for the first time. He told me that he hears occasional “gasps” of shock and horror coming from her as she reads. The gasps are because she knows that what is unfolding right now in this country is very similar to the world portrayed by Orwell when he wrote the book. She remarked in amazement “how did he know back then what was going to happen to this country?”
Obama is a fox in donkey’s clothing. A cunning politician who deceived American voters. From the beginning I suspected that he is just full of himself and will say whatever it takes to gain popularity. My worst suspicions have been confirmed. His “audacity of hope” – now, wtf was that about? It is all about himself, how he can stand on the shoulders of the American public to realize HIS dreams. These days, workers getting decent wages and reasonable housing costs is a mere dream, their hopes destroyed by the hope peddler. Now he has the audacity to insist that the so called economic recovery, which is as phony as himself should be believed and celebrated by all and sundry?
Hey Dave: Obama sure left the financial system more stable. Nah. Not for these folks.
Right in your own backyard.
You are right David. Just one example: CHANGE to Obama evidently means more of the same and “I do anything to save the system”. Bernanke at least was honest (though by misstake?) when he said in Congress that “I will do anything to get financial asset price inflation!” . Then he stopped for a very brief moment and looked like *wtf did I just say?* but nobody reacted. Possibly no one understood anyway what he said or the implications of it.
Have you seen Bloombergs attack on Zero Hedge today Dave? Even funnier is ZH reply. But I think it shows the elites are getting desperate.
Talking about Big Brother and 1984 there seems to be more and more stuff coming form the MSM about censoring the Internet. Here is the UK The Guardian (which has now been taken over by Neo Cons) has been pushing for a censored internet. They are selling this to the progressives on the grounds of removing racists, and bigoted comments section. One of their main writers is wanting everyone to have a licence number to be allowed to go on the net. Anonymity seems to be a big bug bear for them. It was part of Bloombergs attack on ZH that the commentators can’t be identified. They want to be able to go after and punish anyone who says anything they don’t like. It’s all getting out of hand.
Obama is banging the war drums again. More troops to Syria, and he is pushing troops and weapons into the East European States. He has called for a meeting last week with German and British leaders to be ready for war with Russia. It’s insane. I don’t know whether it’s a last big poker bluff or if they are going to drop the big one. I fear the later. I saw a story today that Italy has moved some food production (small scale) to Russia to avoid the sanctions.
By the way, what did you make of those Amazon results yesterday? Is it real or smoke and mirrors? Keep up the good work Dave, and thanks for offering some sanity in all the madness.
Good grief. As much as i loathe Mr. Obama, trying to lay this fully on his lap is simply too much bullsh*t. Obama was inaugurated in January of 2009. In other words, just like Sept. 11, 2001, the crash of 2008 happened on the watch of that other idiot, GW Bush.
Yes, Obama did exactly nothing to clean up Wall Street’s mess, and nothing to prevent future disaster, but it was Bush & Paulson that got the bailout ball rolling. I thought we were past the Red Team/Blue Team crap. We citizens have been screwed by the entire corrupt ‘bipartisan’ nonsense that passes for Government these days.
Well yeah…. but Obama made specific promised to clean up WS. His appointments at the DoJ, on his orders presumably, sat on their hands. His owners bought and paid for a cynical hack who would do nothing.
The start of it is not on him, sanding by watching the corruption is.
He made a whole long list of promises in his 2008 campaign. He kept none of them. He DID NOT promise to fuck the middle class. He’s buttfucked the middle class and didn’t even given them the courtesy of offering lube.
The least he could do at this time is to maintain silence and not peddle the economic recovery story. I said that Obama is full of himself. I will say it again – he is full of himself because even after the working class got screwed over for years, he is making asinine statements about a so called recovery to build up HIS legacy. If this is not proof enough of his vanity, I don’t know what else is.
Obama and his ilk live in a bubble of privilege backed by fraud. It’s hard to know whether he’s just parroting the party line or whether he believes it. I think it’s possible that he’s so removed from reality, that he actually believes what his masters tell him to say. Lots of people labor under their own delusions that protect their mental life from challenging insights. In fact, most people are out to lunch
Dude, he’s going to be your neighbor in Hawaii when he leaves the oval office LOL
Obama knows exactly what he’s doing and wants to overload western civilization with chaos and bring it to its knees. The rest of the ziocon war pigs are happy to pick up their crumbs along the way, just like the big hmos with ozerocare. Its a complete cannibalization of the middle and lower class and their futures. This will not end well.
History will remember…Obama fiddles as America burns.
Eh? The public was forced by Obama in 2008 to bail out Wall Street? I believe his predecessor was still in the WH when Hank Paulson ‘petitioned’ (blackmailed) Congress!
Sorry to correct you again, Dave, but 1984 is clearly set in a post- apocalyptic Britain subsumed into a vast ’empire’ called Oceania which does indeed include the USA and Canada. How did Orwell know what would happen. There are 2 theories: as an extremely clever, erudite and well-read author , he may have extrapolated geo-political events from the 1930s up to the time he wrote 1984 in 1948 (he reversed the last 2 digits of the year to give the year in which the story takes place – he wasn’t being specific about the time). The place is London and places nearby, what we called the ‘Home Counties’.
The other theory of mine is that he was a freemason and had been vouchsafed a ‘plan of action’ for the future. I have absolutely no proof of this. I just think that no one could have been that accurate in post-war, rationed, dismal Britain without some assistance. I am sure Charles Savoie would agree and might even be able to name the people Orwell (whose real name was Eric Blair) associated with. His politics were middle of the road ‘left-wing’ but that could have been a cover as the ‘internationalists’ espouse no political ideology except their own internationalism – what you would call ‘globalism’.
I always wondered why the manifesto of the ‘opposition’ was supposedly written by an Jew – Emmanuel Goldstein – as it has echoes of ‘The Protocols of the Elders’ which has been made to be believed that it was written by ‘Zionists’. My guess is Goldstein’s manifesto was written by ‘Big Brother’ himself.
I first read 1984in the 1960s when I was 12 and I was totally ‘entranced’ by Orwell’s imagination, his command of the English language and by his superbly evocative writing style. Mind you, I think Animal Farm is a much greater novel and far more succinct in getting its political (or should that be anti-political?) message across.
“Anyone claiming that America’s economy is in decline is peddling fiction.”
2016 State of the Union – Oblamo