Forum Post: Know you enemy - Bank Criminal Gangsters are Narcissists
Posted 12 years ago on Jan. 3, 2012, 7:22 a.m. EST by OccupyLink
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Narcissistic People - What do these Bank Executives (Bank Criminals) have in common.
- Bank Criminals display a lack of empathy. They are callous and self serving.
Bank Criminals exploit other people. They have no compassion and will step on other people if it benefits them.
They will put you on a pedistal, when it suits them, only to discard you later on, when they don't need you.
Bank Criminals have a grandiose sense of self worth. They lie about their accomplishments and have feelings of superiority, haughty attitudes and excessive expectations.
Bank Criminals have an excessive sense of entitlement. They demand preferential treatment and getting their way as a right.
Bank Criminals crave admiration and will goes to excessive lengths to obtain it.
They are very jealous of others, and belittle them.
Isn't this evidence of some sort of mental illness?
Can't we get them straight jackets and medication?
That would seem reasonable, except that they are themselves blind or in denial regarding their disorder, and typically view their pathological lack of compassion as a virtue. And sadly, significant elements of our society have been propagandized to agree. See: Ayn Rand.
this is itself typical of mental illness - often those who are cannot grasp the fact that they are highly disfunctional . . .
Yes it is, but many of these people are highly functional within narrow parameters. I.e., they are uniquely well suited to function within a system that is at its heart itself dysfunctional. All struggles are fundamentally struggles of attitude. Change the attitudes and you change the paradigms that reward sociopathic behavior.
For all the ailments in the DSM-V... I don't think overblown greedy ego syndrome is one that the pharmaceutical industry is particularly interested in discovering a cure for.
There are actually quite a few natural remedies for that particular syndrome around, but alas all listed as schedule one controlled substances (not surprisingly).
given the havoc they have wrought on society, I don't really care what tool we use.
the DSM IV makes it abundantly clear that there is not one single human being on the face of the planet that can hope to escape their lash - not that I agree with labeling the human condition as mentally ill - but in effect that is what has been done.
If it can be put to good and expedient use in this instance - I may or may not be perfectly happy, and that is a matter of irrelevance.
I agree. Check out: http://csp.org/psilocybin/Hopkins-CSP-Psilocybin2008.pdf
There is indeed a cure for the human ego, problem is these age old medicines spread like wildfire in the 1960s and scared the hell out of the establishment... largely because of the pro-social attitudes and behaviors they lead to.
bwa hahahaha
That's a good one.
reminds me of one of the batman movies - and Arkham Asylum!
I think that was the name of it.
haha
Yup. We have the technology, those ego-monkeys should be institutionalized and forced to take the appropriate medication to ensure they put other people before money. haha. ;p
Just imagine some CEO blabbing about how he transcended his ego and understood his connection to all of creation. Too bad the lunatics are running the asylum.
I'm chuckling - but really it isn't funny.
we do have the technology . . .
here, a poem
Nice poem. Much like blacklisted medicines, literature seems to go unappreciated in this society which is more of the
... I dined on Salisbury steak with a fresh table cloth for each bite I did take... kind of mentality. :)
Did you just call my poem literature?
I think I like that.
It has a nice ring to it.
Would you be interested to know that I began employing the techniques of formal verse without benefit of classes? I've since had a couple, but just a couple. Well. Three. Precisely.
Haha, yup, Literature: stuff that was once appreciated by a literate population... many many years ago.
Well now that you've got me intrigued, sure lets hear about it. I'm sure the insights will also benefit some of the less creative thinkers who roam around this board. :)
Now I'm on the spot - I've pretty much told the story. Sort of. The short version anyway.
The fact is I never really liked poetry - I had never had much exposure to it, and then I stumbled into a world one finds difficult to describe outside of allegory and verse.
I picked up a book of antholody - dissident poetry - I wish I could remember the name of it. It was verse from all over the world, translations of Neruda and others. I think Wilfred Owen was in there somewhere.
And a New Yorker whose name was or is Troup or Troop, I can't remember. He wrote of "whirling black holes of CIA space". 1968.
Once I got hold of some of Owen's work I began a study of prosody, which is really quite simple. And then I began imitating.
And breaking rules.
I do that.
I do that a lot.
haha nice, well glad to see I'm not the only one left on the planet who appreciates poetry. Black holes of CIA space has a nice ring to it lol, I may just have to check that out.
I wish I could remember his name, or even the name of the book. I think that particular poem was beat poetry, which I really haven't developed a taste for. But that line did stick with me.
The poem was a rant - and the title implied as much - it's on the tip of my tongue.
A Blatant Poem Boomerang
That's it. Written in 1968, I'm fairly sure.
The boomerang is, I believe, an Australian aboriginal weapon - so clearly the concept of words as weapons did not originate with me.
How are you today?
I'm good thanks, glad its the weekend finally lol. :)
How about yourself?
Very busy. I thought you were a known spammer using various usernames, but your reply convinced me otherwise. Please carry on.
Your poems are a form of literature called doggerel.
there is a fair percentage of my work that in fact is doggerel, yes.
There is a fair percentage of my work that has little, if any, literary value what so ever.
this is absolutely true.
Yet as a weapon, contrived out of nothing and employed in the Art that is War, psychological war, war waged for control of the human mind,
some of my doggerel has been quite useful.
Thanks for noticing.
Indeed. I think doggerel can be useful. Some are even done on purpose.
Psychopath
Psychopathy (/saɪˈkɒpəθi/[1][2]) is a personality disorder characterized primarily by a lack of empathy and remorse, shallow emotions, egocentricity, and deception. Psychopaths are highly prone to antisocial behavior and abusive treatment of others, and are disproportionately responsible for violent crime when in a violent emotional state or situation. Though lacking empathy and emotional depth, they often manage to pass themselves off as average individuals by feigning emotions and lying about their past.
http://en.wikipedia.org/wiki/Psychopathy
See John Corzine, MF Global and JP Morgan. You know I really don't care that wall street is populated with sociopaths and gamblers but why do we have to finance them? The trade that killed Corzine was a conservative trade, gov bonds,but he was leveraged 40/1 with 6 billion worth of bonds. WTF should the nice folks who work hard and save their pennies in a bank account have that money loaned out to fund such excess. For 30 years the Ayatollah Greenspan (also see Anne Rand) and the mullahs from Goldman Saks have rewritten our banking laws to cater to these dysfunctional people. It didn't matter who was president and it still doesn't. In case you're wondering I'm no Paulie, we had a sane fed and a boring banking system from 1933 to 1980. We could go back to boring and throw wall street out into the free market where they pretend to want to be.
It's the corruption not the system. We need to clean house and not elect the same old career politicians. And of course TAKE THE MONEY OUT OF WASHINGTON. Removing all regulations is why we are here today.
ah, I see - and that answers my two questions above in the affirmative
I think I like that . . .
Sad part in my eyes is that today's America worships these types and scoff at those who have some morals socially.
that is simply a public perception - one that is even now in the process of change
I hope you are right ZenDog.
It has to be right - look at the numbers of homeless middle class Americans, and then look at the widespread support for the Occupy Movement.
More power to the people!!!! Long live OWS!!! That is our only hope!
hoo-rah!
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I prefer the term psychopath. We are not all one human family, we are not all brothers and sisters under the skin. Psychopaths have a different brain structure, they are human alternates.
Sociopath is a good one too. Most sociopaths are not violent.
Exactly right. There are truly evil people out there. We must all be aware of that. Most bank executives are evil. We must read these seven key features of these people, and best, avoid them.
To the ladies out there. If your husband is a bank executive, then leave him before it is too late. You are not guilty for his massive crimes and great hurt caused against the little people. Take his money, keep enough for yourself (you are a victim also) and give the rest back to the 99%.
They DO great evil and must be held accountable for it! But they ARE not evil so much as they are ILL. Sociopathic greed is a mental illness. The "path" in "psychopath" and "sociopath" means "illness, pathology".
The people who have committed crimes - and those who have aided and abetted them - must be arrested, prosecuted and receive many years of compulsory treatment..
And WE AS A PEOPLE need to learn that Gordon Gekko is wrong: GREED IS NOT GOOD!!!
Narcissists are ill, psychopaths are true to their nature. Fighting crime, corruption and evil without reference to (and a separate response for) psychopaths is like fighting with both hands tied behind one's back.
It's not accidental that we are at this turn in history. We've been blind to the predators in our midst too long.
From 2008, but nothing's changed: http://pathwhisperer.wordpress.com/2008/10/11/welcome-to-our-sociopaths-gone-wild-economy/ ; http://pathwhisperer.wordpress.com/2008/09/24/commonalities-between-wall-street-speculators-andor-fed-bankers-and-sociopaths/ . Far from being reined in, Wall St. sociopaths are even more in control.
Obviously individuals are punished for crimes not for what they are. Most psychopaths (but not all) are persuadable, concerning following laws and societal norms, through educated self interest or utilitarianism. But it is disastrous to ignore their presence.
"But it is disastrous to ignore their presence."
DEFINITELY! I'm not suggesting, even for a moment, that we should be "soft on Wall Street crime", but rather that we be "SMART on Wall Street crime".
I think the whole concept of SOCIOPATHIC GREED really needs to become a household concept, something the average Joe will readily understand.
And I believe that even the sociopaths among the 1% need to be reached out to - because they cause untold suffering to others but THEY SUFFER INSIDE TOO. If they get the feeling that we hate their ACTIONS but have compassion for the PEOPLE that they are, I think it could speed up the Great Healing Process that our nation is already engaged in.
::::::::::::::::Why 308,127,404 Americans Are Going To Get Hosed::::::::::::::::
http://www.zerohedge.com/news/guest-post-why-308127404-americans-are-going-get-hosed
-01/11/2012-
Last week, the US government’s Financial Crimes Enforcement Network (FinCEN), an agency of the US Treasury Department, published its 2011 annual report... http://www.fincen.gov/news_room/rp/files/annual_report_fy2011.pdf ...There are a few numbers that are pretty startling.
We’ve discussed before that FinCEN is the executive agency tasked with ensuring that every US banker is an unpaid government spy through Suspicious Activity Reports.
A Suspicious Activity Report, or SAR, includes details of any transaction that may be deemed ‘suspicious’. Naturally, there’s no clear guidance on what is/is not considered suspicious. Banks, brokerages, money service businesses, precious metals dealers… even casinos are required by law to fill them out.
If you withdraw an unusual amount of cash from your bank account, that could be deemed suspicious. If you set up a new payee in your billpay service, that could be deemed suspicious. Anything and everything is fair game.
Banks and other businesses who do not fill out SARs face hefty penalties, including imprisonment. If they disclose to a customer that s/he is the subject of a SAR, they have hefty penalties, including imprisonment.
When push comes to shove and they have to choose between a nasty penalty, or submitting a SAR about your unusual cash withdrawal, which option do you think they’ll pick?
Unsurprisingly, nearly 1.5 million ‘suspicious activity reports’ were filed across the US banking system in 2011, well over twice the number reported in 2004. On top of this, there were an additional -14.8 million- ‘currency transaction reports’ filed in 2011, a 6% jump over last year.
It’s an unfortunate trend which highlights not only the end of financial privacy, but also the massive amount of data being collected by the government to keep tabs on its citizens.
According to this year’s report, a full 36 distinct federal law enforcement agencies requested information from FinCEN (and even more who haven’t). Three dozen. And that doesn’t include state or local law enforcement.
That there are this many federal law enforcement agencies to begin with is mind-boggling… let alone the thought that some knucklehead at the Fish and Wildlife Service has access to bank records.
This is one reason why international diversification is so important– the likelihood of such collection and monitoring is greatly reduced when you bank overseas. Moreover, should one of these dozens of agencies or courts decide that your ‘suspicious activity’ warrants locking you out of your accounts, they have zero jurisdiction overseas.
This is a common tactic in the US; financial activity is one of the many, many areas with a ‘guilty until proven innocent’ burden of proof. You don’t even need to be doing anything wrong (which is the case most of the time this happens) for one of these agencies to freeze your account ‘pending investigation’ with a simple phone call. Good luck getting it unfrozen.....
(((Continue Reading this article Here))) http://www.sovereignman.com/expat/why-308127404-americans-are-going-to-get-hosed/
Some of my best friends are narcissists,
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not a single mention of zionism or zionists?? christ this movement is all kinds of sad. "banksters" as people seem to like to call them, are nothing more than puppets. israel and the house of rothschild are the real enemies. look them up sometime.
remember: you don't have to be jewish to be a zionist. most people will say zionism=Judaism. its just something they hide behind so that way no one can criticize them. and of course if they do they are labeled anti semetism. its a very unique weapon that they have.
Quite correct too. Anyone who mentions "zionists" is most probably a racist. Zionism in its original meaning was the Jewish people seeking a homeland. They now have one, called Israel. The modern sense of the word is just an insult to call Jewish people. It is highly anti-Semitic.
except its not... zionism has nothing to do with jews. you dont have to be jewish to be a zionist. biden is a zionist and hes a christian. http://www.youtube.com/watch?v=1vDx-5b7T8M
This may also explain why they screwed up the world economy in which i don't believe was some grand scheme to. In other words, they weren't the genius's they thought they were.
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True. Bankers exhibit specific symptoms of Narcissistic Personal Disorder. This is a condition in which a person has an inflated sense of self-importance, chronic deception, preoccupation with fantasies of unlimited success, a marked lack of empathy, a driven desire for attention and admiration, an intolerance of criticism, and disturbed self-centred interpersonal relations. They are often referred to as being conceited and generally have a low self-esteem, which they try to mask through reckless bravado. They act selfish interpersonally, with a sense of entitlement. At some stage, they lose all connection with reality. Going through the above symptom list a junior psychiatrist can easily tick 'YES' against the traits exhibited by bankers during this crisis. Arguably, nothing demonstrates bankers' sense of entitlement more than their insistence on getting bonuses even as they seem to everyone else to be nothing but rewards for failure. The laughable claim that they should be paid retention bonuses because they have special talents is conclusive proof that the psychos have reached the last and most dangerous stage of the progression of this disease- the complete disappearance of that tenuous but vital link with Mother Earth.
http://www.maverickonomics.com
Isn't that a perfect description of OWS?
"They will put you on a pedistal, when it suits them, only to discard you later on, when they don't need you."
Just like with police officers and Ron Paul and banks and Corporations. Should I go on? Or should I make a post stating how much OWS and banks have in common?
Please do.
"They are very jealous of others, and belittle them."
Sounds just like some on this forum to me.
"Bank Criminals have an excessive sense of entitlement. They demand preferential treatment and getting their way as a right."
Isn't this just like OWS?
You forgot inbred!
These bankers are symptoms of a bigger problem - a sick society that needs over-hauling.
Not news, but thank you for pointing it out. As someone with over 40 years’ experience dealing with these people, many are legitimately diagnosable as ASPD on Axis II. They are responsible for much of the "flavor" among top executives, and predominate in the financial services industry.
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Sociopath, Narcissistic, Satan worshiping killers and the embodiment of great evil.
The trouble with these banker terrorist killers, and the people in our government who murder others, is that they somehow they think that it's "good".. Somehow these people can rationalize the evil they do...
I hope Obama knows that when he supports these banking scum that he has become part of, and is championing the evil that is happening...Trouble is, he knows exactly what he doing..
He's been with the company a long time:
http://en.wikipedia.org/wiki/Business_International_Corporation#Barack_Obama
True.
Your right.
The over-accumulation of wealth in the hands of a few criminal banks like Goldman-Sachs has turned congress and the White House into little more than branch offices of Wall Street.
FIGHT BACK!
There are 184 members of Congress who, in 1999, proved their ownership by Wall Street when they voted to repeal Glass-Steagall opening the door for "too big to fail" banks. You can find a compilation of those corrupt members of Congress and an action plan to purge the congress of their corruption this year here:
Purge Congress in 2012 --- Plan Now! (Action Plan Proposal) http://occupywallst.org/forum/purge-congress-in-2012-plan-now-action-plan-propos/
Obama is a narcissist.
they also have a proclivity for cocaine and prostitutes even though most are married with kids.
Of course they do. Their wives are often completely innocent, having no idea of what these evil rogues are up to. Criminal investigators note this, whenever the very few of the fraudsters are caught.
yep they will party and fuck all night at their "meetings" then climb in bed with their wife after fucking prostitutes, not that i have anything against working girls but hey man those guys that do that wow what pieces of shit.
I had a friend on the fraud squad, a Chief Superintendent. He said he felt sorry for the wives of these criminal fraudsters. They were truly innocent, and many were ruined. Their husbands were cowards. All bravado comes off when they are confronted with jail. He said they are pathetic men who break dwn and cry - not for what they have done, but for their loss of power. Lets bring them down, these horrible banking execs. All of them!! Never stop!! NEVER!!!!!!
eat the rich
http://www.youtube.com/watch?v=EewGMBOB4Gg
http://www.youtube.com/watch?v=4Z9WVZddH9w
Sounds like the drug cartels to our south.
For you kind perusal:
We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, it’s not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.
Well now the market crapped out, & even though it has come back some whatever, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.
Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 4am and work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t’ demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.
For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We’re going to take your cushy jobs with tenure and 4 months off a year whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and half. I’ll be hitting grounders to the high school baseball team to $5k extra a summer, thank you very much. So now that we’re going to be making $8k a year without upside, Joe Main street is going to have his revenge right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.
The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but its really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom. We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Main street our food supply…will he? And will they?”
Wall Street are cannibals. They'll eat their own when they're done with everyone else.
As the middle class goes down, eventually they'll take the upper class down with them. Who do you think buys all the goods and services that drives the economy? Stagnant wages, high unemployment, less buying power means those that make the goods and services cannot grow their topline. Guess what? Our money is your money. When our money dries up so does yours.
Cost cutting will only go so far in maintaining profitability. Soon the distress of the topline will find it's way to the bottom line. Eventually too, Wall Street will feel that pain.
I have no doubt Wall Street is smart enough to counteract this by finding more creative ways to make money. Manufacturing more derivatives perhaps. When they're done sucking the middle class dry, they'll be feeding on their own, like the cannibals that they are. That's real smart.
There needs to be regulation that prevents Wall Street from behaving according to their true nature - cannibals.
http://en.wiktionary.org/wiki/wetiko
Awesome! I stand corrected. Wetikos they are! I also see this is associated with psychosis. lol. That explains alot. smartcapitalist should be impressed that I'm increasing my vocabularly to further my creative writing skills. : )
Rhetoric, duh. You guys should really get into creative writing and drama etc. At least then you might have a job.
Smart capitalist = Wetiko Disease
http://en.wiktionary.org/wiki/wetiko
Got a great 6 figure job..Fucking with Bank$ters is just my hobby...
How weak. You resort to ad hominem. Not very smart.
Nothing is a problem for Wall Street until, people stop believing in it and they have..Because of the events of 2008 and such situations as MF global, you have lost the trust of the suckers you seek to take advantage of. You are so very arrogant and lazy...I hope to see all you money changing piles of rubbish in jail and if not jail, that true justice should befall you.
I don't mind you making a ton of money buddy, but let's face it all you do in reality is trade fiat paper..Wall Street is having layoffs...Why?..No one trusts you people..
Good Riddance, hopefully you "smart" people will find a job making a real product that actually benefits others instead of weapons of mass financial destruction.
The best Wall Street can hope for is a severe decline in the market so helicopter Ben can give you Capitalists some more Socialism is the form of QE. You Wall Street people are the worst welfare queens going..Capitalist my ass...
You're right, you will get knocked off the pyramid as the American economy is all just one giant false economy pyramid scheme.
Get a real job doing something productive for society..you fucking thief.
I haven't been laid off yet and even I were to be laid off, I would be protesting in the streets asking for handouts like you guys. And I may be arrogant, but I am not lazy. If I were lazy, I would be sitting in Zuccoti park with you.
As for MF Global, they should have known what they were buying. They are smart hedge fund managers, not the average home owner.
Frankly, I am tired of these stupid rhetoric from you guys. Don't you guys ever get bored?
You dope, you don't even know what this is about...No one is asking for shit..and I'm not sitting in Zuccotti park either..I WORK...
I never get bored of uncovering the fraud and deception that enables you people to exist.
MF Global (Jon Corzine) STOLE money from segregated accounts..It was not his money. Then a ton of cash ends up at JP Morgan because JP was creditor to MF Global? FUCK ALL OF YOU!
"As for MF Global, they should have known what they were buying. They are smart hedge fund managers, not the average home owner."
Lots of the victims of MF were farmers involved in commodities futures as they need to be to survive...No one would think they would have their money stolen from them because they were segregated accounts that were unknowingly re re re re - hypothicated against.
Like I said the only thing that will get you some QE is a real dump in the market and I'm certain the guys at Government Sacs can arrange that when the time comes..It's a rig, but so is the entire system....
Everyone should prepare for a dollar collapse....
First of all, what MF Global (and Corzine) did was stupid and well unethical. I dont know why a man of Corzine's stature and smartness ended up doing such a blunder, I guess sometimes people start believing their own hype. That of course doesn't mean we shouldn't take risks but then there are limits to risk taking. I am not sure what their risk officer was doing. If nothing else, Roseman should have insisted on diversification of risk. Anyways, enough has been said about them.
And 'dope', my firm did not get any of the QE money. We are a hedge fund. So no, I did not take a penny from your precious savings (incidentally, do you pay taxes?). But even for the banks which did (and there are hundreds of them), the money has been returned back with interest. So stop complaining.
Q: "I dont know why a man of Corzine's stature and smartness ended up doing such a blunder, I guess sometimes people start believing their own hype."
A: Because he thought He could get away with it and He may be correct.
Smart Capitalist Statement: "I am not sure what their risk officer was doing."
I'll tell you what he was doing: Being payed off.
Q: Do you pay taxes?
A: Yes..Itemized...and because my accountant is pretty good I pay 11.98% effective..
QE is not TARP you're getting your bailouts and Wall Street welfare check confused.
Hedge Funds can get QE:
http://ciovaccocapital.com/videos/qe/qevideopartfive.html
I think he was over confident. The kind of bets he placed were irresponsible. As for the risk officer, may be you are right. But Roseman does not seem to be that kind of a guy. The risk officer is supposed to balance the animal spirits of the CIO.
As for the QE thing, my bad. And I would say yes, we did benefit indirectly from it. So did the whole economy.
Way over confident, but you can be that way when you bought off half of CONgress. During the Congressional hearings did you notice how he changed his little name placard? First it's "The Honorable Jon Corzine" ..Then at the next hearing it changed to "Hon. Corzine" Spelling Issue? WTF..over?
Look people who wear a suit and tie look less likely to rob you...But you never know anyone really until they are in a situation where they are tempted.
Not everyone gained from QE...Probably not you either...I think everyone deserves a little swag from the Federal Reserve Ponz..But you just can't buy useless MBS securities from just anybody right? You can't just hand over money to anybody at .5% rate right?
Let's get rid of the Federal Reserve Gangtas and their manipulation and you know what? I might leave Wall Street alone...But since Wall Street, The Federal Reserve and Washington are apparently "all in" on the long con..I piss on all of them!
People "think" that as long as the numbers look good then everything is OK..
DOW, S&P, GDP, BLS...It's all crap! What is real?
The numbers....it buys the little people false security for a while, and lets our BOZO politicians and Central bankers kick the can down the road just one more day....Meanwhile everyone's standard of living goes down the shitter little by little.
The numbers are BS Especially (B)ureau of (L)ying (S)tatistics labor numbers and they don't take into account many variables and may not actually relate at all to what is going on in the street...
Take GDP for example...This number, an indicator of national prosperity can go up after a Disaster...It also can go up when more people are dropping dead. It's not a good way to measure how well the country is doing, it's crap!
I don't mean to bust your balls, but we've all become to dependent on a corrupt system..I count myself in as one of beneficiaries.
It's probably more f'ed up then even I realize...and to me, it's beyond freaking repair. Total FUBAR.
See, the Fed and Treasury does not have a whole lot of respect within WallSt. They are considered the bottom of the heap guys, the guys who could not make a successful Wall St career and ended up in these jobs (not all of them of course. Some did have very successful Wall St careers). As for QE, there were many who thought it was a bad idea. In retrospect it wasn't as good a idea was made out to be, but it certainly wasn't a bad idea altogether.
And you cannot 'get rid of' Federal Reserve. Sure, you would like a monetary policy that is less influenced by banks, but in reality that is neither possible nor desirable. You see, the Central Bank needs to listen to bankers, of course it does not need to agree to everything they say.
As for Wall St influence on politics, well corporations will always continue to influence government. It is then the job of the govt to decide how much they want to get influenced.
I cant comment on whether the methods of BLS are corrrect, I dont know what sampling methods and criteria they use.
As for the system being corrupt, well every system is. But may be a little less corruption is always desirable.
The private Federal Reserve is controlling our country, as many private central banks are designed to do...See history of the BofE...Central Banks are not the issue..It's Private Central Banks.
We have lived without a Central Bank before and the issuance of money belongs to the treasury, not this Federal Reserve..
The Federal Reserve is a very nasty deception played on us since 1913...
Watch this documentary in your spare time, try to get to it...
"The Money Masters"
http://www.youtube.com/watch?v=JXt1cayx0hs
For all practical purposed the Fed is a govt body. I think it's ruling by some judge that the 'Fed is not a govt body' makes you think this way. You should actually read the entire text of that ruling. The Fed is not controlled by the govt only in the sense that it's day to day affair aren't controlled by the govt.
Also Youtube videos would really be my first choice for credible sources for info about our institutions.
Hey...It was not just a YouTube video and it's very credible and it's not easy to dispute or debunk....
Even if you don't take the video seriously, (which you should) if we have a Central Bank that controls the money supply, then they are more in control of our country then the founding fathers ever intended. Look up the history of the Bank of England and Rothschild...
Other than that I can point to the recent activity of the Fed and QE that is costly our country greatly!
You are going to have to understand the nature of usury. You sound like you don't..
Attributed to TJ:
http://www.quotationspage.com/quote/37700.html
There is a reason why this statement is true, because that is what is actually happening in Ireland, Greece and Italy and is also happening here..Banks taking over whole countries..
We have a debt based fiat monetary system. That truly is ready to implode! We are in debt saturation..
I guess all these people are nuts also...You need to stop the BS..
http://www.themoneymasters.com/the-money-masters/reviews-and-comments/
What makes you conclude that the Youtube video is 'very credible'? Does it cite any credible sources? Have any papers or articles in peer reviewed journals cited it?
As for the Federal Reserve, it was setup by Congress with the Federal Reserve Act of 1913. The Federal Reserve system operates in accordance with law, which is Title 12 U.S.C Chapter 3 http://www.law.cornell.edu/uscode/html/uscode12/usc_sup_01_12_10_3.html . The entire system is controlled by the Board of Governors. The Board of Governors is a 100% government agency. Each member of the Board is appointed by the President and approved by the Senate. Board members are not allowed to be officers, directors, or employees of any bank, banking institution, or trust company. In fact, Board members are typically economics professors or at least hold doctorates in economics.
As for the Central Bank controlling the money supply, it is there job to do so. You need a central body to control the supply of money. People cannot print their own money, and if they did it would be mere piece of paper.
And I think you guys give Rothschild way too much credit. I am sure they would love nothing more than to be as evil as you think they are.
As for QE, it was again a well thought out decision. Things might have become worse had the Fed not done that. Whether it's the CPM or QE rounds, there were sound reasons behind it. When a economy enters a recession, the values of the assets in a bank's balance sheet drops drastically. In such a case, inter bank lending (which results in liquidity) drops massively because banks are not sure about the extent of toxic assets in each other's balance sheet. Now a lot of these 'toxic assets' may actually be fairly decent investments in a non-recessionary economy. So the Fed needs to do two things, one is to inject liquidity into the system (hence the CPM) and the other is to bolster the value of the assets in a bank balance sheet (hence QE).
Now you may ask, why is it even necessary to save the banks or maintain liquidity? Well if a lot of banks fail, money supply will dry up, no company, whether it's Walmart or GM or your local store would not get any loans (short or long term) to run it's business. They will then have to shut shop, people will lose their jobs, supply of goods and services will fall sharply, many industries would be eroded and the whole economy will be screwed.
As for Ireland, Greece and Italy, each has a very different problem. I am sorry to say, but you don't seem to be able to even differentiate between the issues facing these economies. In Greece and Italy, it is entirely the government to be blamed. In Ireland, the banking sector does share a large part of the blame but it would have been avoidable had the government been a little smarter.
As for a monetary system being debt based, that' nonsense. I could just as well say that it' asset based.
Why don't you watch it, crap we've been through this before and YOU don't cite anything....
Listen to Alan Greenspan: http://www.youtube.com/watch?v=q6vi528gseA
What happens after you print? You devalue the currency...
All because some crooks make up a law..Doesn't make the consequence of that law good or right, ethical or moral..
The Board of Governors is a 100% government agency
The president may appoint the board of governors, so how does that make it a 100% government agency? It doesn't and even the Federal Reserve states they are a public/private entity.
As for the Central Bank controlling the money supply, it is there job to do so. You need a central body to control the supply of money. People cannot print their own money, and if they did it would be mere piece of paper
It doesn't have to be private. The dollar and all fiat paper is valued by a government's ability to tax it citizenry to maintain it's value.
Who owns the Fed Banks? Private Banks that's who! http://www.factcheck.org/2008/03/federal-reserve-bank-ownership/
As for QE, it was again a well thought out decision
Oh really.?..For some reason commodity prices went through the roof while the Bernanke was doing QE...causing all sorts of issues including food riots...Just to hide the MBS garbage that in any economy would be garbage.
Banks need to fail if they make bad investment decisions..That's what Capitalism is...Other Banks will buy the "assets" of the failed bank...In other words you don't need to keep propping up failures..There are other business' to take over for them.
As for Ireland, Greece and Italy, each has a very different problem. I am sorry to say, but you don't seem to be able to even differentiate between the issues facing these economies. In Greece and Italy, it is entirely the government to be blamed. In Ireland, the banking sector does share a large part of the blame but it would have been avoidable had the government been a little smarter.
Doesn't it strike you as a bit strange that governments are losing their sovereignty to banks? Why did Italy and Greece replacing their leaders with bankers?
As for a monetary system being debt based, that' nonsense. I could just as well say that it' asset based.
Fiat Money IS debt: http://en.wikipedia.org/wiki/Criticism_of_fractional-reserve_banking
"Smart" Capitalist - Your point of view would only makes sense if you own or work for a bank or the Federal Reserve...To everyone else, you are full of shit and not fooling anyone...
"Smart" Capitalist: "The Federal Reserve is your friend" ......What a dick.
I really dont see much of a point in answering to rhetoric (by and large). And again Wikipedia is not a credible source for citation
Wow! Is this a joke or are you for real? Assuming the latter, thanks for writing in and illustrating bankster criminal psychopathy.
Since you are into sharing, could you have your brain scanned and share the results with us?
I could tell you that the lowest IQ of a Wall Street trader would still be 50% higher than the average IQ of a OWS protester
so . . . what?
you think having a high iq is proof against a jail sentence?
It could be - I mean, it is possible - but not without consequence. One of them is the discredit of our entire system of justice.
This leads to social instability - especially when the fraud and the theft are as wide spread as they clearly are.
And social instability is not conducive to the accumulation of either wealth or property.
It is a very simple fact that should be readily grasped, even by one such as yourself - with such a high IQ and all, I'm sure you are much more comfortable with convoluted and contortionistic arguments that bend all reason, so perhaps these simple statements of reality are difficult to warp your mind around . . .
Doesn't really matter -
The people of this country will bring as much clarity to these simple realities as need be.
The only real question is - how much proof do you and all ah your friends need, to really get the picture, and understand exactly where your own interests lie?
that is the question
That's delusional, but I'll humor you. Would that license you to frontrun the market?
Wall St./the financial services sector is just that, a service sector. If you look at a national economy as one business, it's not even a profit center. But it has become parasitic on the larger (real) economy. Understanding this is probably beyond your limited intellectual capabilities.
You looters are destroying the world economy. Thanks for the depression you've given the U.S. and the world.
It's you and your 200lbs pooping, drug peddling, whining OWS chums that are delusional.
As for the whole 'parasitic' comment, I could argue intelligently with you about this (I don't completely disagree though 'parasitic' wouldn't be the word I would choose), but then I don't think all that macroeconomic jargon would be palatable to you.
But it's fun with you guys here. I have a low intensity day today and you guys are providing so much humor. Just love it
What ever; you know you have your high frequency trader bot doing all your heavy thinking for you. You just have to hit enter ever so often to reap the rewards. You realize in another ten years your job will be down sized too. Ain't technology a bitch?
For one, not many hedge funds use HFT. They are more used on the sell side. Yes, algos are used in trading (we do too) but they are not of the HFT variety. As for my job getting down sized, if you knew anything about HFT (or algo trading) you wouldn't make such a foolish statement. And even if we were to get laid off, we have a CV full of skills to get employment in any place, particularly one that requires serious math skills. You on the other hand have to protest and haggle people for jobs.
So what makes you so great that you know beer and bullets are a good investment, while car companies and gold are for the lemmings. You give your profession way too much credit. You should have used your math skills to be an engineer and not an engineer of financial destruction. Your algorithms would have been better used making video games.
Oh I have been an engineer myself and I think engineering, medicine, research, teaching are very important professions, They are the nuts and bolts and gears of the economy, we are merely the grease
Engineer? You sound like you have a big ego problem, talking about "very important professions" and the like. Most people who have done any good in the world did not have a profession. Take Jesus Christ, Mohammad, Julius Caesar, Alexander the Great and more resently George Washington, none were professionals. They were just ordinary folk who were not egoists.
@smartcapitalist. Just about everything you say fits into the 7 points above describing narcissists. Number 4 is particularly apt in your comments: "4.Bank Criminals have a grandiose sense of self worth. They lie about their accomplishments and have feelings of superiority, haughty attitudes and excessive expectations.".
People in Wall Street not having a lunch break! Don't make me laugh. They took off for three, four hour breaks, coming back rotten drunk and racking the $5000 "lunches" up to "computer expenses" and the like. Landscaping back yards? You people have never done manual work in your lives. As for teaching kids, I wouldn't let such depraved criminals near my kids.
Go and cry yourself to sleep dear loser
As for sense of self worth, ask any ibanker for his/her bank statements. You would know that our self worth is very justified.
And so would Bill Gates, Zuckerberg, Steve Jobs and so many other entrepreneurs. Then again, according to you guys anyone who made more money than you did it unethically.
Not so, I'm for anyone who gets rich doing something productive that makes a contribution, and against anyone who merely extracts wealth without a productive contribution.
Ah, yes I have heard that. You see, without us, these companies (Facebook, Microsoft, GE etc) would never be able to generate the kind of funds they require for their projects. Their shareholders would not see much increase in the value of the shares. It is us, who track every move of these companies, on behalf of their scores of shareholders, and act as a check against these companies making wrong moves. How? By selling their shares. Similarly, we reward their right moves by buying their shares and driving up it's price. The shareholder benefits.
On the other side, we help investors (HNIs, mutual funds, pension funds, institutional investors) invest their money wisely in companies that are viable.
In all thats the service we provide to the economy. Hope that helps
OWS is based on the recognition that much of what Wall Street does, doesn't help. Otherwise our economy wouldn't be in the state its in.
I think that Wall Street could vanish, and we'd all be better off, there are alternative ways to do finance.
And unicorns could fly.
For one thing, we would need to reestablish a national bank, in the tradition of Alexander Hamilton, which would make low interest rate loans for infrastructure development projects, to be paid off over 50 years or more.
This would be possible since such a bank would not have to pay profits to private owners. Instead, the profit would go to millions of workers who would be employed in jobs that paid a decent wage.
Such projects would not be "make work" but would create real improvements in our economy, increasing revenue to the government that would pay off the loans.
50 years? And low interest? Wow. I salute your intelligence.
As for government owned banks, well both India and China have those. In China, the public banks makes loans not on the basic of due diligence or viability but based on whether the firm asking for the loan is a govt owned, does the owner have a good relation with the bank or province officials and such other concerns. Minor details like IRR and NPV take a back seat. Which works as long as Chinese have a savings rate of around 60% and the banks are flush with cash and can write off these bad loans. But if the savings rate drops these bad debts would bring the economy down to it's knees.
In India, public sector banks have only learnt to be prudent and business savvy. I have heard that once upon a time you would have to bribe the bank officials to get your loan sanctioned. In some of the remote village areas, they still do. Why?
So much for 'national banks'.
Both India and China are doing pretty well economically aren't they? Their growth rate is better than ours anyway.
Some of the great expansions in US history were financed by national banks as well, such as Lincoln's development of the railroad system and FDR's New Deal. But being a Wall Street banker, I imagine you are as opposed to FDR as he was to your kind.
I think JFK's space program must have been financed nationally and it produced ten dollars in terms of economic development for every dollar that was put into it.
Sure, India and China are doing pretty well. But that does not mean they would continue to do so even in the future. And might I remind you, until recently US too was doing pretty darn well.
As for the space program, I think a lot of it was a waste of money. I don't see much benefit in sending a man to the moon other than cold war muscle flexing.
There are some who are quite actively pursuing WW3 right now, if you are not aware of it, look up "WW3 Iran" at google or youtube.
I don't see speculative finance as bringing immense prosperity to the majority of the American people these days. Furthermore, speculators should not be taking risks with other people's money, who have not authorized them to do so.
For the economy to recover fully, first we will need Glass Steagall, which would result in many Wall Street firms being declared bankrupt, then an economic development program, like the New Deal, and a science driver program, like JFK's space program.
Finance would go back to being the process of keeping track of money, rather than making money through speculation. Creativity would be devoted more to scientific and technical pursuits.
The biggest threat to China is the collapse of the west, its main customer base, which it is trying to circumvent by developing it's internal market through infrastructure development. The other main threat to China is the possibility of a nuclear WW3, kicked off in Iran or Syria. And yes, the US was doing well until speculative finance took over our economy.
The benefits from the space program would be the scientific discoveries and new technologies that were developed, and spun off as new products by the private sector. I believe fiber optics would be one example among many. Another benefit would be the creation of an entirely new industry, the aerospace industry, which required high skilled workers and paid them a decent wage.
Yes, that is one of them (though I dont think WW3 is happening any time soon). The other being a lack of democracy. As long as the govt can keep the middle class happy with good growth and jobs it is all fine, but if they ever enter a slow growth or recessionary phase, people will rise is revolt. That is their biggest worry.
As for speculative finance, well it needs to be that way. You need speculators and risk takers just as you need people who want to assume less risk or diversify out their risk. Finance has brought immense prosperity and innovation to the world. It is only recently that we got a bad name. But, for better or for worse, people have short memories, they will forget all this once the economy recovers fully.
You sir, are the loser...You provide nothing to society...NOTHING...Eventually this will catch up with you...
All psychos who get away with murder feel superior for a time..Until they are locked up...
duh
What's next genius? Hey everybody, I'm "Smart Capitalist" and for my next display of intelligence, I'll make some fart noises using my hands! Smart Capitalist...Ho Ho Ho..
The truth comes out now.
Sure I might be a loser, but at least I have never hurt anyone like you people have,
You only evaluate anyone on their net worth.You have no soul. Read the "Picture of Dorian Gray" some time. At least he tried to put things right in the end.
In reality you banking executives are pure evil. Every single point describes you narcissists. You are more evil than any person Simon Wiesenthal went after.
I would avoid your sort like the plaque. I only converse here to show what evil the nice and honest folk of OWS are up against
I feel truly sorry for the wives and families of the banking executives. They will find out all to late what their rotten husband have been up to - the lying and cheating - on their wives also.
Don't waste your time man, Smart Capitalist isn't that smart or even intelligent..He's a just soon to be washed up, proprietary algo sucking nobody...
haha... I almost fell off my chair laughing. Thank god I didnt spill my coffee on my terminals. You are funny man. Keep it coming.
Yeh. It is a laughing matter to bank big shots. Not to their wives and families. Do you think they like it when their men are out jumping on prostitutes while they are trying to lead a decent lifestyle? These criminals are without shame or pity - the ruthless swine. The wives should leave them and marry someone with honor.
On the contrary, it is hopeless OWS hippies that have been fornicating in public. You know what is honorable? Putting in 16 hours of work a day on a job and giving your family the very best that you can. Camping in parks and sloganeering and begging for handouts and stealing from local business, now that is not honorable. I don't have a wife but I do find time to be with my girl friend and we plan to get married soon, I also ensure that my parents are well taken care of and visit them often, even if that means sacrificing on a night's sleep. We don't whine like you. We work. We have a JOB.
It would do you good if you stopped being jealous and actually tried getting a job.
Putting in 16 hours a day? You are probably writing this on your corporate computer. What do you do for the rest of the day? Fire people. Go down to have a few drinks. Come back. Ruin a few businesses. Sell some pension fund dodgy papers. Short sell some stock and then go on TV and say the corporation has "gone bad". Of course you have just put your muiti million dollar bonus into the Caymans or equivalent. You lot deserve jail. I hope your girlfriend knows what you are up to. As I said - read "the picture of Dorian Gray". Sums up banksters and their depravity.
Go get a job. Don't sit on your ass all day. Does your mommy know you are up to..well.. nothing at all and lazing through the day? We need someone to bring us coffee and donuts every hour at office. Do you want me to put in a referral for you for this job? Send in your CV. I hope you can manage coffee delivery. It's very easy, even someone with your IQ can do it. Seriously. And we pay well. Plus you get a tip. What say?
Forget it. I have my job. It is going after banksters like you. I doubt you are having coffee and doughnuts. Have you told your girlfriend what you do - how many peoples' lives you ruin even minute. Does she know where your millions come from, or the rest you hide from her and the IRS? I doubt it. Bankster! You are going down. One day. I pray for it. If I can even get 10 of you scoundrels in my lifetime, it will be worth it.