Why The U.S. May Become The Next Ireland: Simon Johnson And Peter Boone

nytimes.com:

If you thought the "too big to fail" issues of 2008-9 were bad in the United States, wait until our biggest banks become even bigger.

Today the big six banks in the United States have assets over 60 percent of G.D.P.; there is no reason why they won't increase toward Irish scale.

Read the whole story: nytimes.com

Comments

[sonoffestus]

02:15 PM on 03/19/2010

I'm thinking the next Argentina.

[MayorQuimby]

07:51 AM on 03/19/2010

I do my best to avoid dealing with TBTF banks. I'm debt-free and STAYING debt-free.

[sonoffestus]

02:16 PM on 03/19/2010

MQ, debt free is very good place to be. Been there for over 15 years, it helps big time.

[Linda from Deerfield]

07:52 PM on 03/19/2010

Me too. I keep wondering if all the hyper-inflation fear mongering is simply a device for luring more people into debt.

[PhilipTaylor]

06:02 AM on 03/19/2010

BANKSTER LOVINGLY GIVEN MONEY -- TAKES DOWN IRISH ECONOMY:

1. GDP Down 7.3% - 2009
2. Exports down 9%
3. House prices continue fall.
4. Being in Euro Zone, Exchange Rate cannot adjust
5. Means Greater Hardship for Irish
6. So BAD BANKSTERS think it's BOTTOMED
7. Banksters LOVE “Success” of Draconian Fiscal cuts. Warn "talk the talk &walk the walk."
8. Cut government worker take-home pay by 20% since 2008 =LowWages+HighTaxes
9. Ireland is NOT a model for Anywhere! Banksters want it for USA!
10. Ireland suffered SAME BANKSTER Housing Scams USA did!
11. Ireland FED BAILOUTS TO BANKSTERS despite CRIMES!
12. So Irish are on HOOK to PAY for BANKSTERS' CRIMES!
13. Like US and Greece - Irish Gov. hides Debts off-balance sheet ENR0N-STYLE!
14. Irish GovBudget deficit is eye-popping 12.5% of GDP- 2010.
15. Like US Ireland is DUMPING FAR MORE MONEY IN BANKSTERS hoping for “Trickle”
16. Ireland’s Government is also owned by Banksters so FUNDING CONTINUES!
17. Ireland’s “austerity” = Creditors “DON’T PAY” for their past mistakes
18. Countries like US learn Banksters Leveraged Risk-Taking must be limited SIZE!
19. Lesson: Risk-Taking Banksters must hold lots more capital.
20. Big Banks MUCH BIGGER - Top 6 USBanks Assets = 60% of GDP!
21. Controlled Bankruptcy of Banksters forcing Stakeholders to pay $600 Trillion LOSSES!
22. USE Top 5 Banks' Assets to pay down USA DEBT!
23. Politically Powerful Banks take longer to DOWNSIZE but must happen!

[Prathap Rajamani]

05:03 AM on 03/19/2010

This is something that every citizen be aware of!!

- Prathap Rajamani

[waldopepper]

02:15 AM on 03/19/2010

Watch this (the 30 minute edition)

http://www.youtube.com/watch?v=O_TjBNjc9Bo

Ot this if you DO NOT have a mere 30 minutes.

http://www.youtube.com/watch?v=gGgjU-h_xQw

[PhilipTaylor]

06:42 AM on 03/19/2010

Peter G. Peterson Propaganda - To avoid TAXES ON RICH!

Wants to wipe out Social Security and Medicare!

Peterson is in With David Rockefeller Jr. to PRODUCE ONE World Banking System controlled by the Financial Aristocracy and impose Draconian Lives on 95+% of Americans!

[PhilipTaylor]

06:43 AM on 03/19/2010

WHY WE NEED TO W0RRY ABOUT G0LDMAN and Peter G. PETERSON

Connections VIA the FED (Currency CONTROL) and the Council on Foreign Relations (Military Control)!

Control of R0thschilds + Go1dman + Rockefe11er are so complex the following is a chart tracking some of the Go1dman connections:

http://www.muckety.com/maps/5073724,1268,592,2037,95635,21524.png

Peter G. Peterson is the connector of the Financial Aristocracy! Took me forever to find that out!

He is trying to WIPE OUT Social Security and Medicare to prevent any Tax increase on Rich!

He produced a SCARY video on this topic that is clearly an attack on the Middle-Class and P00R!

Shown to the MASSES ON CNN: OUTRAGEOUS!

http://www.youtube.com/watch?v=O_TjBNjc9Bo

This HYPED-SCARY Bush ERA Video is aimed right at the Heart and Soul of Middle-Class America - Effort to Avoid TAXES ON RICH at ALL COST and WIPE OUT Social Security and Medicare! While continuing MASSIVE MILITARY SPENDING!

Peter G. Peterson is Linked Directly to David Rockefe11er, Jr. and the R0THSCHILD Empire who want to CREATE 0NE W0RLD 0RDER!

[Poster99]

01:04 AM on 03/19/2010

Money creation should be fully open government chore and not private bankers' wet dream!

[desertman]

03:46 AM on 03/19/2010

Anyone can print money. Wealth creation is another matter.

[OscarthePug]

10:47 PM on 03/18/2010

The best solution for the U.S. is to initiate the Volcker Plan into law.

Monitor and regulate strictly to prevent the biggest from becoming bigger and even more dangerous than they are already.

[magibrotherhood]

11:57 PM on 03/18/2010

Guess who was in on the Freddie Mac scam to cook the books in 2000 and 2001?.....

r.ahm

He was on their Board of Directors for 14 months...right at the beginning of the housing scandal.

[OscarthePug]

12:31 AM on 03/19/2010

In comparison, Rubin makes Emanuel look like a petty shoplifter. There are so many culprits to the crime.

But what I'm concerned with right now are the good guys, not the crooks.

We should focus on the men and women with a "plan" rather than spend time and energy constantly talking and hand wringing about those responsible for the "scam."

That will come about later, maybe much later, but it will happen.

[americaforme]

10:45 PM on 03/18/2010

The Bank's cooking pots have boiled over, its safe to say what's left, cant be returned to simmer. The liquid just isn't there.
The chef's are global, and they dont want a new batch. The recipe must be altered, and the change of composition is squarely in the hands of the servant's. The slaves dont believe in themselves! Brainwashed for fifty years, they cant go to the toilet alone. Its a sorry situation!

[tibetanterrier]

10:26 PM on 03/18/2010

Saw headline and first thought was pedo-I don't want to be censored priest.

[joebhed]

10:03 PM on 03/18/2010

Gee whiz, Peter and Simon, the bottom line is that for the present private debt-money banking system, you have described the endgame plan quite well.
The bankers win, the taxpayers, and the countries, lose.
What you can't seem to grasp is the way out of that game.
May I suggest the answer at the American Monetary Institute, where you will find the recommended solution of a public, rather than private, central banking system, one that is empowered to issue money debt-free, rather than to issue debts in order to obtain money from the private bankers.
Bankers would get back to the kind of banking that they used to do, and what most people think they are now, and should be.
The only way for the taxpayers to avoid paying for the bad debts created by the shadow banksters is to restore monetary solvency, and have the government issue the money.
Why aren't you talking about that?
www.monetary.org

[magibrotherhood]

12:00 AM on 03/19/2010

the debt is a mirage.....it isn`t even real...it`s `smoke and mirrors`......that`s why the fed reserve will not allow an Independent Audit.

[joebhed]

10:16 AM on 03/19/2010

A powerful mirage, nonetheless.
When my Dad described the onset of the financial crash of '29 and the ensuing depression, he said that one day everyone had a job of sorts, a home and a reason to get up in the morning and go to work.
The next day, boom, it was gone.
We had all the natural resources, human labor and productive capacity of the day before.
What was missing was the money.
And the reason there was no money was because some verry rich people somewhere were holding some pieces of paper that cast the lot of working people everywhere into despair.
He was a monetary reformer to his dying breath.
Tomorrow would have been his 100th birthday.
There's still a lot of work to do to dispel that mirage.

[PhilipTaylor]

07:58 PM on 03/18/2010

SIMON JOHNSON’S ASSOCIATION WITH PETER G. PETERSON WHO WANTS TO END SOCIAL SECURITY AND MEDICARE IS VERY DISTURBING!

See Map of Relationships: http://www.muckety.com/maps/5002326,163861,1268.png

Simon Johnson, senior fellow at DISTURBING Peterson Institute for International Economics, is former economist at DISTURBING IMF (International Monetary Fund).

International Bankers financed research at MIT and Harvard to study how far average people can be pushed before they rebel, break the status quo, like the French Revolution when people overthrew the King.

IMF wants math models to know how much they can manipulate Currency/Money Flows to harvest the wealth of average people, before people would Revolt.

Elites are obviously worried about pushing people too far as a rebellion results in a massive loss for the Elite Rich! The question is can mathematical models find what the LIMITS are to avoid Revolution?

Elite International Bankers want to use Math Models on Peoples’ LIMITS to scientifically OPTIMIZE waves of Boom and Bust Crises to maximize harvesting VALUES of average people's fortunes for the pockets of the Elite, Optimizing Theft!

[PhilipTaylor]

08:19 PM on 03/18/2010

JOHNSON AND ONE WORLD ORDER MAN PETER G PETERSON AND DAVID ROCKEFELLER

Relationships: http://www.muckety.com/maps/5002326,163861,1268,2037.png

IMF sponsors MIT and HARVARD RESEARCH: "Persistence of Power, Elites, and Institutions"

By Daron Acemoglu and James A. Robinson*

Current beliefs: Political institutions, once in place, persist and shape the political-economic interactions of different groups and agents.

Nevertheless, many societies experience frequent changes in their political institutions.
1. Latin American countries freed from Spain's colonialism - Independence with constitutions
2. Multiple switches (dictatorship-democracy) changed Political Economic institutions
3. We construct a model to study changes in political institutions for economic institutions.
4. Changes in political institutions alters the distribution of political power
5. Political Changes create Investment incentives in new political power offsetting loss 0ld power
6. Model implies a pattern of captured democracy with Economic 1nstitutions favoring ELITES.
7. Model defines conditions that allow ELITE economic/policy outcomes to persist over time.

http://www.people.fas.harvard.edu/~jrobins/researchpapers/publishedpapers/jr_persistence_pub.pdf

Their IMF research led models showing how long RICH ELITES can continue ruling Countries and the World!

[Carolab]

10:12 PM on 03/18/2010

When we found that last year I really wondered about Simon.

[US1st2009]

12:59 PM on 03/28/2010

i have replied to you and Carol regarding Simon but for some reason they are being automatically deleted.

[PhilipTaylor]

07:36 PM on 03/18/2010

America - Vodka out of potatoes!

[Poster99]

07:11 PM on 03/18/2010

So, who exactly gets hurt if the banks in Ireland go belly up? Who do they owe the money to?
Was that money real earned wealth or was it all database entries and IOU's created out of thin air recycled into more stupid loans?

Why are posters so upset about government bailouts? It's not like the government has any money to bail banks out. Government has negative balance sheet and has no business making more promises. It's all shifting of numbers around to keep appearances of good accounting. When push comes to shove no government can take more money than people actually have to satisfy some old bailout promises made.
They will sacrifice the currency, print enough to pay debt and start from scratch. It's up to you to be prepared when money is nothing more than paper with some images and numbers printed on it.

[Jond0]

07:47 PM on 03/18/2010

" It's up to you to be prepared when money is nothing more than paper with some images and numbers printed on it."

How does one prepare fully for this?

[Poster99]

08:23 PM on 03/18/2010

You are never FULLY prepared, but you can put yourself in a good position.
Own your house. Invest time and effort in relationships- both with your family as well as friends. Acquire some skills that are always in demand. Put part of your savings into hard assets that can be traded for other goods and services. Be handy and own a nice set of tools so that you can be self sufficient.. Be prepared to defend yourself and your family if police services can't be counted on. Stock up on and keep current generic medicines for common illnesses. Stock up on booze- both for yourself and for trade. You can have cases of it i your basement for years.
These are just some basic things that will get you through tough times.

[vippy]

06:46 PM on 03/18/2010

Can't come fast enough! Maybe then the country will wake up and say to heck with party loyalty, etc.
and vote for a 3rd party sending a message that we are FED UP! We are lazy, we have other priorities,
we think it won't affect us, we love so and so because he/she just happened to say something we admired or we simply don't want real change. I say it is enough and we all need to vote for the Independent Party. We have no other choice. We, the people have the power, let us use it.

[tamazul]

06:26 PM on 03/18/2010

I can "see the wheels turning" already. Just got the news that my Wachovia account just got taken over by Wells Fargo.