Sunday Open Thread – It just keeps on ticking…

May 31st, 1859 - Big Ben starts keeping time.
Tick tock, tick tock… 

Time…
What are you doing with your time today?

“Does anybody really know what time it is? Does anybody really care?”
~ Chicago

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16 thoughts on “Sunday Open Thread – It just keeps on ticking…

  1. This is what I have done since the Sunday talk shows.

    Heard On Hartmann:
    I had to be at work two hours early, so I was out of time when I heard this on Thom Hartmann’s third hour on Friday, and I’m just now getting back to it.

    Listen to the first eleven minutes in the third hour of Friday’s show, May 29th for Thom’s interview with author David Korten (It’s the top mp3 clip)
    David Korten’s most recent book, “Agenda For A New Economy: From Phantom Wealth To Real Wealth” has the tag line, “Why Wall Street Can’t Be Fixed, And How To Replace It”. He has some unconventional ideas, to say the least.
    His website is: http://www.davidkorten.org/

    Then skip ahead to the 20:30 minute mark and listen to the caller and Thom continue the discussion.
    Transposed from the caller and Thom at 20:30:
    Dick (in Seattle): “That’s how they (banks) make their profits, their money. Don’t they loan the government money, and get the interest off those loans? And since the Chairman of the Federal Reserve influences the US debt level, I mean isn’t that a pretty much a clear conflict of interest in this kind of a closed-loop, profiteering scam on the taxpayers?”

    Thom: “Yep, and David and I were talking after we got off the air about some of the questions that we all have about how this is all playing out. You have banks that took hundreds of billions of dollars or tens of billions of dollars in TARP money, which came with lots of strings attached to it. And then you’ve got the Fed, which loaned out, or gave secured lines of credit, in excess of two trillion dollars, two thousand-billion dollars…”

    Dick: “They’re running that debt there, they’re running that debt up with their influence from the chairman.”

    Thom: “Right and apparently what’s happening, and nobody’s really sure about this, and this is why Ron Paul introduced legislation in the House and Bernie Sanders introduced legislation in the Senate to, you know, to make this transparent.
    Apparently what’s happening is the banks are taking the Fed money which comes with no strings, and using it to pay off the TARP money to get rid of the strings, so that they can continue paying their CEOs and their senior executives huge salaries and they can continue having trading floors and they can, you know, to reinflate the bubble basically.”

    Dick: “Isn’t that, isn’t that why we call them banksters?”

    Thom: “There you go. And then, the other thing is, that the Fed is loaning money at the banks, at essentially zero percent interest, it’s just a fraction over zero percent right now, in an effort to get the banks to loan money out, and the banks appear to be loaning that money to the Treasury Department and getting a fixed six percent return on it!”

    Dick: “That’s crazy!”

    Thom: “Yeah! So they’re just sittin’ there drawing their six percent, and you wonder why, why they’re not, so, yeah, it is…”

    Dick: “And we’re paying for it, the taxpayers”

    Thom: “You betcha, you betcha we’re paying for it, and it’s a weird and wild system. Dick, thanks a lot for the call.”

    I’m hearing this and thinking, “Why can’t I borrow money at zero percent interest and loan it to the Treasury Department and get a guaranteed six percent return?” If loaned out on a home or a business, there’s a risk the bank will lose so why would they loan to the private sector until the economy improves?
    Under this scenario, the banks don’t even want the US government to stop running a deficit, because then their cash cow goes away. We have so many loopholes and disincentives in our economy, it is a wonder it hasn’t collapsed long before now.
    The legislation to which Thom referred is H.R. 1207: Federal Reserve Transparency Act of 2009 sponsored by Ron Paul. It is close to 150 co-sponsors in the House.

    More here:
    “HR 1207’s identical companion bill in the Senate is known as S604, the Federal Reserve Sunshine Act, sponsored by Sen. Bernie Sanders. If you contact your Senators, ask them to support S604. At this time S604 doesn’t have any co-sponsors.”

    Bernie Sanders joins Ron Paul in saying, “Audit the Fed!”

  2. That’s a lot to understand on a Sunday house! I forget that you can go listen to them online.

    The other thing people forget is that the USSR wanted to end the cold war but Reagan/Bush wanted to keep their friends in money so they kept building weapons we didn’t need and now have to destroy.

    I worked at an investment banking firm during Jimmy Carter’s term and I can tell you the uber wealthy worked concertedly to get him out of office every way that could. I suppose that’s why the interest rates were boosted way up at the time. Free country my ass.

  3. Hi Shayne!
    The interest rates were high because of the debt from the Vietnam War coming due during that time. Carter was the victim of a combination of that debt, and the Iranian Hostage Crisis, that we now know was prolonged by the illegal Arms for Hostages back-channelling done by the Reagan campaign.

    I want to thank Nwmuse for all the posts today, and Wayne too. TP gets difficult for my old machine refreshing above a hundred comments.

  4. Is your hand feeling better Muse. I have issues with the wrist of my mouse hand so I understand.

    • Shayne, not really. I’ve been to PT for the last three weeks and it is still bad. I’m making an appointment tomorrow with the doc to get it xray’d (which probably should have been done initially) to make sure there isn’t something else going on. I am sick of eating Advil.

      • Jen, it’s still bad because you’re doing too much with it!

        An x-ray will be good, just in case there’s something else going on.

  5. I believe the feds were manipulating the interest rates to stick it to Carter as well house. Pack of thieves.

  6. Don’t know if it would help y’all, but I use a trackball, a Logitech Cordless Optical Trackman, instead of a mouse. It has a lot of setup options, but you use your index finger to scroll and move the ball, left click with middle finger, and right click with your thumb, and you eliminate the worst of the tendon motion in your arm, because you don’t have to move it. Mine sits on the right arm of my recliner, since it doesn’t have to move. My wife had arm problems in 1997, and bought a trackball to help her arm heal. I got hooked on it and preferred it ever since.

  7. From Crooks And Liars via MSNBC
    Kansas Doctor Killed At Church

    “Media reports say that abortion provider Dr. George Tiller has been shot and killed at his Wichita church. Tiller has been among the few U.S. physicians performing late-term abortion. His clinic has repeatedly been the site of protests for about two decades.”

    Updated by MSNBC moments ago:
    Suspect Now In Custody

  8. Allright, who sneaked off and is watching “Ice Road Truckers” on the History Channel?

  9. HoR,
    I’m still here. I had my desktop doing a full scan. I disable my laptop and spouse’s PC while doing that. That allows me to sync the three after the scan. At that point, they are all equals.

  10. That zooming sound you just heard is whatever you did flying over my head at mach speed, Walt. :)

    I have one PC and it scans at 4am every Saturday morning. I have to call McAfee/Comcast to make changes to it. What I know how to do, I know well, what I don’t do regularly, gets deleted to make room for new tricks.
    I haven’t figured out how to “sync” yet. It involves the mp3 player in my cell phone and the bluetooth headset used to listen to it. I’d like to figure how to do that eventually, before I have to give up the phone.

  11. Carter also had the pleasure of being the one to reap the effects of Nixon’s wage and price freeze.

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