China once again drops a big rock on its toe

You cannot but feel sorry for Beijing's rulers. They have the knack of making a bad case worse. Take the recent crack down in Tibet, it has largely turned world opinion against it, tore to shreds its choreographed campaign to bring peace and harmony to the world through the Beijing summer Olympic games, and torn off the mask of a rising world power albeit nominally Communist, but with a human face, soul, and feelings. Well all that's gone! In spite of harsh repression in Tibet and neighbouring provinces with large Tibet populations, it has not quashed the will of Tibetans for freedom and affirmation of who they are, and this despite more than a half century of Beijing's trying to turn Tibetans into ersatz Chinese. But Beijing's woes do not remain in Tibet. The oppressed Muslims in China's Xinjiang or Western Turkestan have taken to arms against the central government, and now Beijing admits, Muslims have begun taking to the streets in protest. Although we're not witnessing the spark that caused a prairie fire, to slip into the Leninist imagery, we're on the other hand, witnessing the faltering power of Communist rule in China. We won't examine the growing social and class tensions within the majority Han population, nor the struggle of intellectuals calling for a more open society, nor the daily confrontation of the destitute peasants in the neglected Chinese hinterland with local leaders who represent Beijing's central, stifling, oppresive rule. The Communsits are heirs and prisoners of China's past...they react in the same way towards discontent in the same way that the emperors did. And with brutality. Some may say in a traditional way, the mandate of heaven is slowly slipping away from Beijing, this in the face of unprecedented economic expansion and growing world status of China. This said, to hold on to power, Beijing will not hesitate to wage full and open warfare against its own people, and such a policy will further weaken its grasp on power.

Had Alan Schwartz played Liar's Poker

As Brumaire18 earlier showed how the Gang of 4 killed Bear Stearns, poor Alan Schwartz Bear's beleagued CEO caved into blackmail, in the extreme hope his 14.000 employees won't be left selling apples on street corners when JP Morgan's Jaime Dimon radically changed the terms of a us$25bn loan...from 28 days to 24 hours. Had Schwartz told Dimon to shove it royally up his arse, what would the Gang of 4 done? They would've rescued Bear Stearns without blinking, for the very simple reason were Bear to fail, it would bring down Wall Street. Oh were Schwartz a practioneer of Liar's Poker, for then he and his bank would be still in business instead of being raped by a JP Morgan takeover. Nice work anal hairstylist Hank Paulson!

Dumbing down America 101

Syms an American clothier have a wonderful tag: 'an educated consumer is our best [customer]'. In 7 little words, it says it all. An educated consumer is a buyer bewared. But tell that to the media who are slashing at large hachet swings news reporting. Little wonder the average American lives in a la la land of glitter and vacuity which passes for news. Little wonder America's children cannot even locate American cities on a map. Little wonder...indeed! A dumb America is easier to control, and the ruling class knows that full well. They make sure the gnats they spawn have full and complete access to the best education so as to perpetuate a class of bloodsuckers and hanger ons and croneys, and sponges, and nasty people who believe they're to the manor born. In a sense, they are, but what they have is not a right nor a privilege...oh where are the common men and women to rise up and overthrow this class of man eaters who feed on the body America? They are here and there and everywhere but know not their strength, nor have they coalesced yet into a powerful army to overthrow Herr Bush & his ilk...

More thoughts on the Gang of 4's killing of Bear Stearns

As was to be expected 3 of the Gang of 4 appeared before Congress' banking committee to justify the massacre of the investment banking house Bear Stearns on 16 March 2008. The apologia pro sua vita Geither and the toilet attendent Bernanke pleaded following the well worn scenario found in endless, idle chatter in the media. [The big enchilada anal hairstylist Hank Paulson was in Beijing, stroking the Chinese silken anal hairs for a big handout to help steady US financial markets!]. The real meat of testimony came from Alan Schwartz the beleagued CEO of Bear Stearns. It was hardly commented on. Jaime Dimon of JP Morgan who will devour Bear Stearns lock, stock, and barrel, had agreed to a loan of us$25bn for 28 days, thereby giving Bear breathing space to raise monies to stave off failure. This was on Friday 14 March, but on Sunday 16 March, he rang up to say it was not a 28 day loan but a 24 hour loan. At this point Schwartz threw in the towel for there was no way, he could in a day raise the money. As the 'New York Times Dealbook' [2 April 2008] reported, the anal hairstylist was on the telephone that weekend twisting arms to kill Bear Stearns, and he did out of rivalry or revenge for Jimmy Cayne's refusal to help bail out a hedge fund 10 years earlier, or as a way of tough love messages to the industry? or perhaps all three and many more motives yet to come to light. Rumour has it Goldman Sachs began bruiting stories about Bear's solvency, which spread like wild fire; traders began selling short...and we know the rest. Now the SEC are looking into insider trading charges and Schwartz spoke the obvious that had Bernanke opened the window of opportunity that he did for Lehman, Bear would still be in business. To put the nail in the coffin of Bernanke's disingenuous testimony, the SEC agree.
The Gang of 4 thought they had brokered a done deal, but have they without fallout. Hardly! The world markets shook within the very hour the toilet attendent announced the offering up on the altar of greed Bear Stearns, and in spite of the smoke and blue mirrors of Bernanke and the fancy braiding of anal hair by Paulson the markets remain fragile at best and we're now witnessing at roaring speed the US slipping into recession. More later...

The toilet attendent Bernanke let's the cat out of the bag

Toilet attendent Ben Bernanke has let the cat out of the bag. Yes, the US is in recession. He kept the open secret under his cap until events in the market place, read subprime meltdown, rising food and fuel prices, inching up unemployment, and the inability of the government to regulate and control an economy which has spun out of control, owing to the rule of laissez faire capitalism more commonly known as free trade and limited, very limited government.
He will do what little he can...he will ride the back of this bull till it throws him off. The crisis is here for a long spell, and neither Bernanke nor his gang of thugs, nor Herr Bush can nor are courageous enough to take bold measure to tame the unbridled, feral horse which is private business. How can they? The private sector calls the tune, and not one is brave enough to be a traitor to this class of thugs and blood suckers and croneys, and stand up for the little man or woman. Ultimately they will either have to institute authoritarian rule or cave in to the rising anger across the land to aid and succour the citizenry.

The anal hairstylist Hank Paulson in Beijing!

US secretary of the Treasury and anal hairstylist supreme is in Beijing. If we believe the headlines, which are suspect, he gave Hu Jintao a talk on the need of China to respect human rights! Don't you believe that for a moment. It's a smokescreen. You've to ask why in the midst of a financial crisis of global seriousness and at a time of shaky American financial houses, should the man at the frontier supposedly of major, some say, revolutionary, change, is in Beijing musing on China's woefully deficient report card on human rights? Well, as if we didn't know the answer! Since 'getting the government off our backs' thus spake the American Zarathustra Ronald Reagan, the US has espoused the gospel of the free market, thereby instituting run amok reign of laissez faire capitalism, by favouring the rich and impoverishing everyone else. So we see the brutal reign of the private sector unfettered from the chains of state regulation, resulting in the state's inability to collect or levy taxes to pay for its maintenance whilst putting into the hands of the bankers, corporations the run of the country. Out of this lunatic philosophy has arisen the subprime ponzi meltdown, shaking to its fundamental the financial structures of not only the US but the world banking system. The Bear Stearns rape brings to light the weakening of American hegemony as a world superpower, who is now kicking and screaming giving millemetres of ground to a rising and opposing superpower who is China. China hold trillions in US debt which is sustaining an ever weakening dollar. Now, we see why the anal hairstylist Paulson is in Beijing. He's there with his fine tooth comb to stroke the anal hairs of the Chinese to help rescue the big American and European banks beset by dire financial misery caused by the subprime meltdown. In brief, he's come as a beggar...how humiliating for Herr Bush whom the 'New York Times' asserts today [3 April 2008] is quite distant to the machination in the financial market place. This is pure unadulatered bull! So now the mighty Herr Bush has sent his lackey to Beijing kowtowing to the celestial kingdom for aid and comfort and at a price it is willing to pay, and ironically willing now to dance a little to the Chinese erhu and pipa and shao! How the mighty stoop so low!

Modesty doesn't become the rich investment bankers

Whereas the anal hairstylist Hank Paulson is trying to bring a semblance of order in rocky and turbulent world of high finance, reform or acts of contriction of the super pooh bahs of America's finance capital are coming up short. Look at Blank[en]fein who took over from Paulson at Goldman. He plonked down us$32m for an apartment at 15 Central Park West, where Sanford Weill lives. The disgraced Jimmy Cayne took his ill gains and bought two apartments at the refurished Plaza Hotel on Central Park South. The average joe and jane are told to rein in expenditures and change poor buying habits, but not the bloodsuckers whose very banks brought us the subprime ponzi scheme and subsequent meltdown and set the global financial markets and world economies a shaking. Once again we have a corrupt, syphlitic ruling class who preach do as I say, but not as I do. And we end up paying dearly for their incompetence, greed, vices, and economic veneral diseases.

The anal hairstylist's saga--another chapter

Anal hairstylist & US secretary of the Treasury Henry 'Hank' Paulson is busy as a bee these days. He's drawing up plans to change the way non commerical banks or investment banks and hedgefunds and quite, but esoteric financial instruments are regulated. He commands the heights of the braided hairs of anal banks and high finance but he ain't the master of all he surveys. Why? Globalism has cut the ground from under his feet, for no matter how hard he tries to cling the slippery pole, he's bound to glide right down to the ground in utter frustration. He may ring up a central banker here, a central banker there but the subprime funds say have been sliced and diced and peddled to all four corners of world finance, which he as CEO of Goldman Sachs helped to propagate, nurture, and hawk globally.
Paulson may try to do something in the US, but even that will in some measure not quite the restive financial markets worldwide. The crunch on liquidity is planetary, and that ain't hay. So like the Red Queen in Alice, he has to run faster and faster to stay in place, but sorry anal hairstylist the ground keeps slipping from under his big feet.
Today's 'New York Times' pullout 'Dealbook' [2 April 2008] tells a little more on the sad fate of the failed Bear Stearns. Jimmy Cayne's baby, it says, according to Paulson & fellow conspirators had an exposure globally of us$2,7 trillion! Well, here's a quick question: if Bears' exposure was so mind boggling, were other banks including Goldman, to throw open their books completely, that number would rise exponentially, and cause a tsunami of runs in the financial markets here there and everywhere. Little wonder Bear was scape goated and massacred on 16 March 2008, and even then, this 'victim' caused great panic in the market place.
Yesterday's 300 point spike in the Dow Jones average is a sign of wishful thinking: UBS may raise us$17bn and Lehman us$3bn in equity offerings but that won't chase the big bad wolf of the subprime ponzi fallout from the door. It is especially significant that the 'Financial Times of London' wrote about the hemorraghing of billions in world equity markets. So with smoke and mirrors and economic voodoo chants and what Hobbes would call empty words, the anal hairstylist Paulson is trying to introduce a new style of regulation, which as we all know will leave the banks and hedgefunds doing badly what they're already doing. He's going by the simple rule of thumb, if you're in for a penny, why not go for a pound of pain and suffering. Sorry to enlighten this silly man, the world is going through not growing pains but a long, painful, chronic illness of laissez faire and run amok finance capitalism.

China & Tibet

A quick observation. Tibet is more than a thorn in Beijing's side. Its brutal repression on protesters in Tibet, Gansu, Yunnan, and Chinghai have aroused a feeling among China's rising middle class that it hasn't acted forcefully enough. China didn't count on Tibetan nationalism nor the firestorm its repression has fanned outside China, challenging its holding of the 2008 summer Olympic games in Beijing, its complete support for the Sudanese government's genocide in Dafur, its threats against Taiwan. The Chinese Communist rulers have planted seeds of doubt among its citizenry as to its ability to rule. These doubts will germinate and ultimately nuture a challenge to central authority. Which is and was the last thing Beijing wants. Tibet has shown China's Achilles heel, and the slow decline of the Chinese community party.

Anal hairstylist Paulson's proposals are almost dead on arrival

Wall Street is giving a hearty clap on the back to the anal hairsytlist Hank Paulson, one of their own, who happens also to be the US secretary of the Treasury. Herr Bush's flunky has come up with a barrel of dead fish of proposals on how to square the circle on the subprime scam which has set the Street shaking with a low intensity 4 on the Richter scale of earthquake strength. Hank as he likes to be called is watering more Wall Street's wine by relaxing the minimum of regulations and allowing investment banks to regulate themselves. Now ain't that a joke! The problem is that they have been regulating themselves with one view in mind to maximise profit and get away with fraud, ponzi schemes as in the subprime markets, cheating clients, so on and on. And here the stroker and weaver of bankers anal hairs is letting them to continue doing what they best at doing which is defrauding the rate or taxpayers, being a burden on society, and devil be damned with the consequences. We know what the consequences are but alas have little power to stay Herr Bush's course which is to enrich his class of blood suckers and ravenous pimps of exploiters who will go to any length to further their class interests, be it war for oil in Iran or reviving the cold war in Europe or waging open, brutal class war against Americans.
Had Hank opened the morning's newspaper, he'd have much cause for alarum. UBS is writing off more billions; its CEO has resigned; the 'venerable' house of Lehman is trying to raise us$3bn in new equity at a time when the money is even fleeing equity markets. [Have we another Bear Stearns on our hands?] The fire bells are ringing loud and clear but Herr Bush's flunky Hank blithely goes on offering pie in the sky and paper hats as storm clouds gather announcing bad news for Wall Street and us...let his innards rot forever!