John Stewert Stimulus plan (listening to Hudson, I guess)

[jtabeb]

Best Stimulus plan yet, and IMHO, the only one suggested that will actually work. Here he is with Gwenn Ifil from Washington Week "channeling" Michael Hudson.


http://www.thedailyshow.com/video/in...tle=gwen-ifill

[D-Mack]

Re: John Stewert Stimulus plan (listening to Hudson, I guess)

I don't know if this is the same as cancelling debts

The Daily Show With Jon StewartM - Th 11p / 10c

Gwen Ifill

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[ProdigyofZen]

Re: John Stewert Stimulus plan (listening to Hudson, I guess)

lololol gwen ifill? seriously, she is definately an ethnocentrist........ cheerleader for our dear leader.

[jtabeb]

Re: John Stewert Stimulus plan (listening to Hudson, I guess)

lololol gwen ifill? seriously, she is definately an ethnocentrist........ cheerleader for our dear leader.

My point was to show the irony that the best most workable "solution" to the problem has so far, been fielded by a comedian.

[metalman]

Re: John Stewert Stimulus plan (listening to Hudson, I guess)

My point was to show the iron that the best most workable "solution" to the problem has so far, been fielded by a comdian.

clear sign of creeping totalitarianism... only the court jesters get to tell the truth.

[D-Mack]

Re: John Stewert Stimulus plan (listening to Hudson, I guess)

My point was to show the iron that the best most workable "solution" to the problem has so far, been fielded by a comdian.

I'm not sure if I get Hudsons position, but as far as I know he is saying that the debts can't be paid.


There were some remarks last month by a Senator, who could go into that direction, but there is not much on it in the media.

"... over the last 6 months we have wrestled with ways of dealing with the credit markets in our country. I wish to tell my colleagues it is my belief the boards of banks throughout our country are in boardrooms today and are in conversations throughout the country talking about the fact that their banks are actually insolvent. They know they are insolvent, but because of the way gap financing accrues to banks who make whole loans, they are able to actually meter those losses out over quarters into the future, knowing that today they are insolvent.

"... I talk to investors on Wall Street who are involved in these institutions in major ways. They know they are insolvent. They know we are just pushing this down the road.

"... It is my belief we have a number of banks in this country—large banks, banks that we know and respect—that need to be seized, that right now need to get down to a base level where normal investors would be willing to invest in these banks. The longer we put this off, the longer we are going to be away from actually solving the root cause of this problem.

"... I hope what we will do as a body—and as a country—is tell the American people we realize many of our financial institutions are insolvent. We realize the problem could be trillions of dollars, and until that issue is dealt with in a serious and real way, anything else we do for the economy is for naught."

http://frwebgate.access.gpo.gov/cgi-...5&position=all

However, if we
do not deal with the root issue—and
that is the fact that much of our banking
system is insolvent and recognize
that as adults—and cause the assets to
be written down to their real level as
we do with derivatives, but we do not
do that on whole loans—we give banks
a break, if you will. We let them meter
those out. If we do not deal with that,
everything we do here to deal with our
economy, in my opinion, will be for
naught. It will be a total waste.

http://market-spin.blogspot.com/2009...enator_24.html