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09:51 PM on 01/29/2011
so when President Obama cheers the Stock Market in his speech as the indicator we should all be watching that proves that happy days are here at last, what he's really telling us is, "Jump in folks for one more final fleecing?"

Because, kids, nothing has changed and the banks are doing business as usual--which mean in the end, We Pay!
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duckfan00
Après nous le deluge
10:20 PM on 01/29/2011
It is like a signed deal with the corporate/elite that they will support him in 2012 as long as he backs off further reform.....
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09:49 PM on 01/29/2011
Davos--Where Bush's "Base" goes to party.
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PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
09:28 PM on 01/29/2011
Are the USA and Europe the FINANCIAL SPRINGBOARDS or RESOURCE TOOLS for the Multinationals to transfer their EMPIRE BUILDING to Asia?

Extracting the wealth out of the developed countries to EMPIRE BUILD in developing Countries.  

Is history repeating itself?  YES!
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NessEliot1932
Tax Fraud at 94% since we cannot Prosecute
09:08 PM on 01/29/2011
Picture Multi-National CEOs trying to move the Top of the Pyramid onto the New Asia Base as the USA and Europe Base deteriorates.
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JacksonAndy78
Usury Interest is Welfare to BANKSTERS
09:14 PM on 01/29/2011
As the CEO Loyalties to the USA and European Bases deteriorate the CEOs demand those Countries preform MAJOR austerity CUT BACKS to pay down BIG BANKS DEBTS on the public balance sheets.

The CEOs want to use those decaying Governments for future BIG BAILOUTS to BIG BANKERS next TIME AROUND.

These declining countries serve as the BANKERS INSURERS OF LAST RESORT while building their NEW ASIAN EMPIRES!
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TAIsabel
Suffer no fools.
09:21 PM on 01/29/2011
They have no borders and travel at will. The last place left to hide for the rest of us is Cuba, they can't get there yet.
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PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
09:38 PM on 01/29/2011
Awful small place for 307 Million.
08:51 PM on 01/29/2011
When you pay yourself 400x the average salary of the people who actually make your business happen, your grasp of the real world is already distorted. That's why we need a 95% top marginal tax bracket, to remind these clowns that they're not that tall, they stand on the shoulders of everybody.
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NessEliot1932
Tax Fraud at 94% since we cannot Prosecute
09:00 PM on 01/29/2011
Try 550 NOW!
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TAIsabel
Suffer no fools.
08:48 PM on 01/29/2011
When you are sitting at the top of the heap, you don't look down but your footing is based on those below you. Like a pyramid, your position at the top depends on the base being firm. Once the base begins to crumble, your footing is not safe. This is what has happened in history when the base cannot take it anymore. They are on top now but, the base is corroded and weak. No jobs means no income, no income means no purchasing power, a dimishing middle class and a frustrated populace. Many kings and dictators have lived an isolated, priviliged filled life only to find themselves toppled or beheaded in the blink of an eye. All it takes is that last straw.

Today we read that the unemployment in Spain is 30%, we have witnessed revolts in Greece, Spain, Tunisia, Egypt...it can happen here too although I suspect we have a long way to go since the baby boomers are devastated, shell shocked and dispirited. The young have their heads so far up their techno a$$ they have no clue.

Far more powerful empires have fallen. Sooner or later, this cannibalistic capitalist empire will too. We may not be around to see it. I hope our chidren are.
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NessEliot1932
Tax Fraud at 94% since we cannot Prosecute
08:52 PM on 01/29/2011
The BASE IS CRUMBLING BENETH THEM!
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Queen Regnant
Marching to the beat of my own drummer
04:40 PM on 01/31/2011
That's why they're building a new base in the far East - they wrecked this one.
Ana4
neutrino alert, just passing through
01:31 AM on 01/30/2011
How right you are! I think we shall see the sands shift beneath the pyramid(s) in our lifetime, however; I give it 3-5 years for the next phase to unfold.
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NessEliot1932
Tax Fraud at 94% since we cannot Prosecute
08:44 PM on 01/29/2011
PRIVILEGED CLASS: Core keynote events and CEO-related interaction-NO SUCH themes JUST Corporate Davos Exuberance.

1. CEOs were uniformly positive without a note of serious concern enjoying Historic Profits and the BEST BOUNCE Post WWII.
2. Comfortable with status quo post-financial crisis doing extremely well.
3. CEOs put the awkward CRASH embarrassment and accusations behind them
4. CEOs consider themselves FREE AT LAST from being called incompetence, greedy, and buying governments.
5. CEOs love it that big companies have done disproportionately well.
6. CEOs love that Executive Compensation is SOARING.
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NessEliot1932
Tax Fraud at 94% since we cannot Prosecute
08:47 PM on 01/29/2011
7. CEOs now want Countries to do austerity to pay down BIG BANKS DEBTS on the public balance sheets - so Governments can BAILOUT BIG BANKERS next TIME AROUND as the INSURERS OF LAST RESORT and to keep currencies from moving too much.
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NessEliot1932
Tax Fraud at 94% since we cannot Prosecute
08:48 PM on 01/29/2011
8. Europeans can NOT imagine a major bank being allowed to fail.
9. Government support for banks translate into easier credit for BIG corporations.
10. Leading bankers now insist with greater vigor that Government Support to all other parts of society be curtailed saying that provisions helping the general public goods is not their responsibility - WELFARE IS FOR BIG BANKERS ONLY!
11. CEOs lead the charge against raising taxes and in favor of deficit reduction.
12. CEO "fiscal conservatives" claim budget issues are discretionary nonmilitary.
02:03 AM on 01/30/2011
Keep building that wall between the haves and have-nots and the have-nots will eventually climb that wall.
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Carolab
Just another hostage of the poopy heads
02:08 AM on 01/30/2011
Right now they are concerned about damage control and how to convince the populace that more  multinational corporatism is for their own good in the long run.

http://www.reuters.com/article/2011/01/27/us-davos-greed-idUSTRE70Q75Z20110127
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Carolab
Just another hostage of the poopy heads
08:41 PM on 01/29/2011
The U.S. faces an incipient fiscal crisis (a) in the shorter term, because of what the big banks did and what they are likely to do in the future, and (b) over the next few decades, if we fail to control rising health care costs (both in general and as funded by government budgets).

____________

Sums it up precisely.
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JacksonAndy78
Usury Interest is Welfare to BANKSTERS
09:17 PM on 01/29/2011
I think it is even BIGGER than that.

It is transferring the Top of the Pyramid using the declining base on top of the growing Asian BASE.
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Carolab
Just another hostage of the poopy heads
12:13 AM on 01/30/2011
Yes, it did bother me that Simon said "in the shorter term" because clearly globalization and consolidation, leading to an even narrower distribution of wealth, are the biggest threats.
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Carolab
Just another hostage of the poopy heads
12:18 AM on 01/30/2011
Yes, but notice he said "incipient", as in just beginning, and he did say what the banks are "likely to do in the future", so I think that allows for the "grand global plan".
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PrometheanSalvation
Bringing fire to cleanse the land.
08:31 PM on 01/29/2011
It seems so strange that they can't see what's coming; all they have to do is turn on the TV. Their fortresses of inequity will not hide them from the wrath of the people they have wronged. Beware the useless eaters lest they eat you.
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PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
08:28 PM on 01/29/2011
The gap between the CEOs' world and the REAL WORLD IS MASSIVE but POLITICIANS are Bought by the CEOs leaving ONE SIDE IN FULL CONTROL!

Who can confront the CEOs in the highest profile public forums, and push them on to social responsibility broadly defined?

The U.S. or eurozone government officials demonstrated the deepest levels of intellectual capture - As long as we do what the big banks and big firms want, everything will turn out all right - accepted FACT without DEBATE! 

Even if a deeper crisis looms, does the global business elite really care - with their nearly FREE GOVERNMENT INSURANCE PLAN?
ThatsTheTheWayItIs
religion, ideology, partisanship are delusional
08:17 PM on 01/29/2011
Emerging economies are what's happening, the developed nations are just that - developed. Return on investment comes from growth, growth comes from developing.

Pretty obvious to me, the developed world is not where it's at.
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JacksonAndy78
Usury Interest is Welfare to BANKSTERS
08:22 PM on 01/29/2011
So are you either living in the "emerging world" or moving there?
08:40 PM on 01/29/2011
Perhaps our young people will find more opportunity emigrating to the emerging world?
ThatsTheTheWayItIs
religion, ideology, partisanship are delusional
08:59 PM on 01/29/2011
I'm 60, retired, own no assets except stock. All my stock is in emerging markets except US solar stock. I'm "living off" there, hopefully. That was my real message: invest in emerging markets if you have a 401K.
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PrometheanSalvation
Bringing fire to cleanse the land.
08:14 PM on 01/29/2011
Capitalism works for those with capital. Socialism works for those who live in society.
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JacksonAndy78
Usury Interest is Welfare to BANKSTERS
08:17 PM on 01/29/2011
ONLY JOBS LEFT IN AMERICA DEAL WITH FINANCIAL MANIPULATION AND SWINDLING!
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PrometheanSalvation
Bringing fire to cleanse the land.
08:20 PM on 01/29/2011
Or selling intoxicants to forget that truth.
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JacksonAndy78
Usury Interest is Welfare to BANKSTERS
08:10 PM on 01/29/2011
DAVOS discussions: GOVERNMENT WELFARE IS FOR BIG BANKERS ONLY!

Leading bankers now insist with greater vigor that Government Support to all other parts of society be curtailed saying that provisions helping the general public goods is not their responsibility. After reckless BANKSTER decisions account for the 40% (of GDP) increase in net government debt in US from loss of tax revenues following their GREED CREATED CRISIS.
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JacksonAndy78
Usury Interest is Welfare to BANKSTERS
08:15 PM on 01/29/2011
DAVOS discussion among those NOT IN THE PRIVILEGED CLASS:

1. The dangers posed by our "too big to fail"/"too big to save" banks
2. The consequences of widening inequality
3. Persistent Unemployment and the jobs picture in the U.S.
4. Disruption of fairly priced credit is a dire consequence for Main Street.
5. So many small companies are struggling
6. Debt DUMPED on Governments by BIG BANKERS Greed is damaging societies.
7. Lack of Government Funds to stimulate JOB Growth or Training/Education
8. Military Spending is OUT OF CONTROL
9. Failure to control rising health care costs in USA
ThatsTheTheWayItIs
religion, ideology, partisanship are delusional
08:22 PM on 01/29/2011
But that same greed created all the growth under Bush. And greedy home buyers caused it too. Some 40% of the bad loans were for not-first homes, or home equity loans. I strongly suggest reading this amazing and entertaining book:

"Sometime in the next five years you may kick yourself for not reading and re-reading Kindleberger's Manias, Panics, and Crashes." –Paul A. Samuelson
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PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
08:39 PM on 01/29/2011
So it was all the Home Buyer!

The Madison Avenue Advertising did NOTHING related to low income people being told this was their last chance and it is cheaper than rent!   Buy NOW (BUY HIGH)!

The crowd being sold TRICK & TRAP loan with as Bush said, "we can change the fine-print" had nothing to do with it!
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NessEliot1932
Tax Fraud at 94% since we cannot Prosecute
09:50 PM on 01/29/2011
And all the DECLINE UNDER BUSH!
07:58 PM on 01/29/2011
I'm confused: are we that... 'optimistic' to think that multi-billionaires/millionaires would actually CARE about inequality?! I mean, isn't that how they essentially make their money, hold their power? So I fail to get why we're so 'surprised' or 'concerned' that they essentially... don't care. It's not in their interests to care.
ThatsTheTheWayItIs
religion, ideology, partisanship are delusional
08:19 PM on 01/29/2011
They make their money from corporate profits, which requires consumers with money. So yes, overall they do care. They've patched it up with credit, lending us the money to buy their things and houses, but that all just crashed. We are now "de-leveraging", undoing the servitude debt they put us in. But they can still make profits, so things are not as bleak as put here.
12:30 AM on 01/30/2011
You would think that's the case, but given what we've seen from our own Corporate America: from the insurance industries to even successful companies like Apple -- who make all their products overseas, to our decimated manufacturing sector, hedge fund schemes, stagnated or diminishing salaries and benefits, while we've seen profits and executives' salaries increase exponentially -- I've seen VERY few indications that they care that so many people are struggling. YES, I agree wholeheartedly -- a healthy economy and employment market, means consumers, which means bigger profits. But these people are making SOOO much money right now... that I've seen little evidence that enough of them care. But I hope to be proven wrong...
Linda from Deerfield
Paying attention
07:35 PM on 01/29/2011
What a perceptive and frightening essay.