Friday, October 03, 2008

Live Blogging The Biden-Palin Debate

My notes from tonight:

8:07 p.m. Late again. Oh well. Anyway, Sarah Palin’s first answer was so obviously rehearsed it’s not even funny.

8:08 p.m. Oh God. We’re treated to the notion that John McCain really did mean the “workforce” when referring to the “fundamentals” of the economy.

8:09 p.m. If I hear the word “Maverick” once more, I’m going to barf.

8:09 p.m. Sarah Palin begins an answer with the words “Darn right”. I wish I was making this up. Anyway, she’s now calling for “strict oversight” of lenders and Wall Street. Wait, she’s still on the Republican ticket, right? Nice to see Biden make the point – that John McCain called for more deregulation both on Wall Street and (more recently) in health care.

8:13 p.m. Another “darn right”. The moderator asked her if she wanted to respond to Biden’s point on health care. Instead, she says “Yes, I’d like to respond to this point on taxes.” No one, for the record, even mentioned taxes.

8:14 p.m. I swear to God, this woman is seriously mentally challenged. For the second time in three minutes, she “responds” to a point that wasn’t made. Thankfully, the moderator interrupts her by telling her time is up.

8:16 p.m. Good to see Biden hammer the $250,000-and-below point home with respect to Obama’s tax plan.

8:17 p.m. Sarah Palin just used the word “espoused”. I’m actually impressed. Looks like that 5-college education went somewhere.

8:19 p.m. Listening to this woman talk is like listening to someone scratch their nails on a chalkboard.

8:21 p.m. YEAH, JOE BIDEN! OH! He closes up his criticism of John McCain’s plan on taxing health care benefits with the line “that’s the ultimate bridge to nowhere.” Line of the two debates so far. Brought the house (ok, the room) down.

8:23 p.m. Biden’s just smiling, almost laughing, at Palin at this point. Really, I don’t blame him. She’s such a cartoonish figure.

8:25 p.m. Call it the soft bigotry of low expectations or whatever, but right now, Palin’s doing significantly better in this format than in the Couric-Gibson format where she actually has to face follow up questions. She sounds semi-semi-coherent (i.e. quarter coherent).

8:29 p.m. She’s terrible at not answering questions. I mean, she’s really, really bad at it. Good politicians can evade questions in a way that suggests to the average viewer that they answered it. Palin cannot; she simply moves on without answering it.

8:30 p.m. I’m not even sure she’s speaking English anymore. What do they speak in Alaska?

8:32 p.m. The energy/climate change part of the debate is clearly going to Biden, partly because the Dems have the facts on their side, and partly because Palin is an idiot who doesn’t know what the fuck she’s talking about.

8:34 p.m. Sarah Palin corrects Joe Biden’s narration of the “drill drill drill” line. It’s “drill, baby, drill” she gently tells him. She also brings out the George W. Bush rendition of the “nucular” pronunciation.

8:37 p.m. Biden’s first gaffe of the night. He uses the word “marriage” when referring to rights for same-sex couples. Big oops. Oh, and also, Sarah Palin calls herself “tolerant” on gay issues. Alright, then.

8:39 p.m. On to Iraq. Listen up, Palin. Stop calling it I-rack. Stop it.

8:41 p.m. I’m glad Biden brings up the fact that Obama’s plan for withdrawal in Iraq has basically been agreed upon by Prime Minister Maliki – this is something Obama did not explicitly say in the first debate (he only mentioned that “even George Bush” has agreed to this plan). Closes strongly: “We will end this war.”

8:43 p.m. Palin stutters, says “uh” and then says “your plan is a white flag of surrender.” Ok.

8:44 p.m. Palin is using the word “respect” a lot more with Biden than McCain did with Obama. Clearly the reaction to his prissiness in the first debate has taught the McCain camp a lesson.

8:45 p.m. On to Pakistan. Biden calls an unstable Pakistan as dangerous as a nuclear Iran. Not saying I agree or disagree, just telling you what he said. He sounds good when he talks about helping Pakistan with respect to its governance, and building schools to win hearts and minds.

8:46 p.m. Hey, Palin! It’s nuke-lee-er. Not nook-you-ler. You sound like an idiot, you know that right? At least she pronounced “Ahmadinejad” relatively correctly.

8:49 p.m. Yes! Palin brings another George Bush line. “They hate us for our freedoms!” Man, I missed that one. Long lost love and all that.

8:51 p.m. Biden clearly wins the question on whether or not to “sit down” and negotiate with adversaries. Well done. He’s doing well so far.

8:52 p.m. “Israel is our strongest and best ally in the Middle East,” Sarah Palin tells us. Not exactly jumping over a high bar there, are they?

8:52 p.m. Why is Joe Biden referring to himself in the third person? This is the second time he’s done it; I thought the first time might have been a mistake, but now it appears to be a strategy.

8:55 p.m. Alright, she’s completely rambling now. She went from Israel to George Bush to partisanship to the slogan of “change” in about 15 seconds.

8:57 p.m. Again! One more third-person reference by Joe Biden.

9:03 p.m. Palin hooks Biden on his having voted for the war. Can’t argue with that; dude did do so – this was the same problem Kerry had four years ago.

9:06 p.m. Another stutter from Palin, before she says “I beg to disagree.” The English language does not deserve the treatment it gets from this woman.

9:08 p.m. Strongest moment of the night for Biden. He basically says that he would carry on Obama’s policies if something were to happen to him; in about two minutes he synopsizes all of Obama’s positions on the economy, healthcare, foreign policy, taxes and everything else. Really good stretch there.

9:11 p.m. Palin brings out the “say it ain’t so, Joe” and the “god darn it.” You know, I don’t condone violence against women at all, but if I were to deliver a nice tight slap, I think I know where it would be directed.

9:14 p.m. Again, she’s doing better than she did in those godawful interviews in the last few weeks. Don’t know if it’s enough to save McCain in this election, but she’s doing ok given the absurdly low expectations she came in with.

9:16 p.m. A question on the constitution with respect to the role of the Vice President. Oh, dear. She’s just rambling again. Biden comes out strong on the question, calling Cheney “the most dangerous Vice President” in the history of the country, and clearly demonstrates that he’s well versed in these constitutional-legal questions. Brilliant answer. Round of applause (not from the crowd, just from me).

9:19 p.m. Palin says she shares the McCain-Reagan view of American exceptionalism, and that the U.S. represents the perfect ideal of democracy and freedom. I think part of my lunch is on the floor.

9:21 p.m. Biden gets emotional, talking about his first wife dying and having to raise two kids by himself. Another good little stretch. I have to say, he’s done fairly well tonight. He’s got the balance of policy detail, attacking McCain’s record, and personal anecdotes pretty good.

9:26 p.m. They close by describing how they would change the bitter partisan tone of Washington. Both solid answers. Palin also takes a shot at the evil “mainstream media” who “filter” what she says, and claims that she enjoys being able to speak to the American people directly. Alright dude, do it again then – at a press conference, where follow up questions are allowed. Come on, do it.

9:31 p.m. Biden closes strong. Wow, I’m impressed. I’m seriously impressed.

21 comments:

asfand said...

Biden was class imo. Really fell for the guy. Even when he brought out personal stories they seemed really sincere rather than a political ploy.

To be fair, he WAS up against a complete mong. No one on the 'mainstream media' seems to be addressing the fact that she didn't answer ANY bloody questions :S

oh and the winking FFS.

changinguppakistan said...

Biden rocked it, although Palin did better than expected - although my standards weren't high, did you SEE the Couric/Gibson interviews? She made it out without stumbling TOO much, although, (and this was blatant, I noted it in my blog), she kept referring to Gen. McKiernan, the U.S. commander in Afghanistan as McClellan. Unless the current commander was also the major gen. during the U.S. civil war, I'd say we have a pretty hefty slip-up there.

On another note, my friend and I took great pleasure screaming at the television, "And I can see Russia from my house!" whenever she said "Gosh darn it," "darn ya" and the like.

bubs said...

I seriously hate Sarah Palin. Is the world ready for a Ned Flanders vice presidency?

The moderator was as lousy as Palin. She let Palin get away with lying about supporting equal rights for gay couples.

On the whole, the debate was pretty boring. I can't believe I won't get to watch The Office this week because of this crap.

Asad said...

letterman puts expectations of palin into context.

http://www.huffingtonpost.com/2008/10/02/david-letterman-top-ten-t_n_131125.html

also worth checking out are the videos of him ripping mccain for about 4 or 5 straight episodes.

adeel said...

And how about this gem? http://www.youtube.com/watch?v=C6urw_PWHYk Matt Damon is genuinely pissed off about Palin, lol.

tanh1980 said...

Everyone is talking about Palin getting McKiernan's name wrong but no one raised an eyebrow when McCain called Zardari "Kadari" in the first debate:

YouTube

This blatant sexism and elitism!

Barooq said...

What bewilders me is that Palin, more than once, totally ignored the questions. She kept on going back to her stump answers, in typical sawal gandum jawab chana fashion, and her over emphasis on colloquisms seemed so so laboured and still media is portraying it as she 'held on her own'.
I mean, if you wont answer the questions asked and ramble all about whatever you crammed up in your bootcamp, ofcourse you are going to be relatively stumble free.
Is American public that dumb that they cannot see through that ?
It was almost irritating when she kept trying to throw a one liner memorable moments from say it isn't so to doggone it.

I mean i lost count how many times she said darn it or darn that, and the whole maverick repetition was getting idiotic. Thanks god, Biden at least called her on it at least once.

I mean she wasnt even 'debating'.
How can anyone possibly say she did good?

changinguppakistan said...

Actually a lot of people talked about the Kirdari thing, including other Pakistani bloggers like Teeth Maestro. From what I've seen on the Western news, no one is really drilling the McKiernan mistake home, despite the fact that Palin said it three times. No offense, but I think it's a stretch to call that sexist or elitist.

naqiya said...

@bubs:

how were you bored?? i found it highly entertaining!

@ahsan (and everyone else who hates her):

i honestly could not get over how many times she made major grammatical errors. i can't recall anything right now (maybe because i just woke up) but it was really fucking painful to watch her butchering sentences.

i loved biden's "bridge to nowhere" moment. i also thought he really tore her apart on the whole maverick thing; that was just brilliant. overall I thought biden did really fucking well, but immediately felt like pro-mccain types would still think palin did well/better. her colloquialisms made her more relatable than biden: the whole “joe sixpack and hockey moms like me” thing… the funny thing is the palin’s net worth ($1.2million) is way more than biden’s ($150,000). doesn’t that make him more of a joe sixpack than her? maybe he was trying to drive that point across by referring to himself in third person again and again?

AAA said...
This comment has been removed by the author.
AAA said...

I cant remember a single question she answered. It is utter nonsense that she did "fair" or "good" last night. It was the worst performance by any candidate

She might be an "average" hockey mom but i really dont want an average hockey mom running the only super power in the world (imagine her in front of world leaders besides "Kardari". What about Palin having a discussion with Putin, Sarkozy, Brown, Hu Jintao etc.)

12 hours after the debate some of the comments that stand out.

"Drill baby drill" or "drill drill drill" - I guess she should have answered the question about the job of the VP is to correct chants

"The toxic waste of Main street is affecting Wall Street"

White flag comment - outright stupid

i give her credit for looking in the camera (sportscaster era) and talking to the American people. Biden was only talking to Gwen.

bubs said...

Naqiya: I was bored because it wasn't a true debate. The format didn't allow for the candidates to question each other and the moderator asked anemic follow-up questions. And, worst of all, while Palin was pretty awful, she didn't have any fuck-ups along the lines of her Katie Couric interview.

Ahsan said...

It's clear to me that David Brooks has lost his mind. Please read his piece on the debate.

http://www.nytimes.com/2008/10/03/opinion/03brooks.html?hp

bubs said...

Naqiya: One more thing. Are you sure Biden's net worth is only $150,000. If so, the guy has serious money management issues. A quick Google search showed that a Senator's is about $165,000 a year and he's been serving for about 35 years. He's also written a book and gives plenty of lectures.

Anonymous said...

I found this anonymous post on a neighboring blog and was stunned, horrified, amazed and enlightened. It stitches together a lot of things that I've been thinking and discussing with friends and associates for some time now. I can't say I agree 100% but it comes WAY closer to what I think is reality and how we should live, than 99% of what is out there.

The anonymous poster said they have been making such predictions and creating this post for years now, and said you could find earlier iterations of it on the internet if you looked. I looked, and I did. I found several--the earliest I found before I quit looking was in December of 2005.

It's not a short post, but it's a complex topic and I believe this is worth your while to read to the end.

So, without further ado, I'd like to share it with you...


Amazing. The first ever global depression will go down in history horribly misunderstood. What a pathetic bunch of ignorant fools we have become. Consumer junkie credit card morons. Perfect little victims. Say that reminds me.

Don’t believe one optimistic word from any public figure about the economy or humanity in general. They are all part of the problem. Its like a game of Monopoly. In America, the richest 1% now hold ALMOST 1/2 OF ALL UNITED STATES WEALTH. Unlike ‘lesser’ estimates, this includes all stocks, bonds, cash, offshore accounts, and material assets held by America’s richest 1%. Even that filthy pig Oprah acknowledged that it was at about 50% in 2006. Naturally, she put her own ‘humanitarian’ spin on it. Calling attention to her own ‘good will’. WHAT A DISGUSTING HYPOCRITE SLOB. THE RICHEST ONE PERCENT HAVE LITERALLY MADE WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. Don’t fall for any of their ‘humanitarian’ CRAP. ITS A SHAM. THESE PEOPLE ARE CAUSING THE SAME PROBLEMS THEY PRETEND TO CARE ABOUT. Ask any professor of economics. Money does not grow on trees. The government can’t just print up more on a whim. At any given time, there is a relative limit to the wealth within ANY economy of ANY size. So when too much wealth accumulates at the top, the middle class slip further into debt and the lower class further into poverty. A similar rule applies worldwide. The world’s richest 1% now own over 40% of ALL WORLD WEALTH. This is EVEN AFTER you account for all of this ‘good will’ ‘humanitarian’ BS from celebrities and executives. ITS A SHAM. As they get richer and richer, less wealth is left circulating beneath them. This is the single greatest underlying cause for the current US recession. The middle class can no longer afford to sustain their share of the economy. Their wealth has been gradually transferred to the richest 1%. One way or another, we suffer because of their incredible greed. We are talking about TRILLIONS of dollars which have been transferred FROM US TO THEM. All over a period of about 27 years. That's Reaganomics for you. The wealth does not ‘trickle down’ as we were told it would. It just accumulates at the top. Shrinking the middle class and expanding the lower class. Causing a domino effect of socioeconomic problems. But the rich will never stop. They just keep getting richer. Leaving even less of the pie for the other 99% of us to share. At the same time, they throw back a few tax deductible crumbs and call themselves ‘humanitarians’. Cashing in on the PR and getting even richer the following year. IT CAN’T WORK THIS WAY. Their bogus efforts to make the world a better place can not possibly succeed. Any ‘humanitarian’ progress made in one area will be lost in another. EVERY SINGLE TIME. IT ABSOLUTELY CAN NOT WORK THIS WAY. This is going to end just like a game of Monopoly. The current US recession will drag on for years and lead into the worst US depression of all time. The richest 1% will live like royalty while the rest of us fight over jobs, food, and gasoline. So don’t fall for any of this PR CRAP from Hollywood, Pro Sports, and Wall Street PIGS. ITS A SHAM. Remember: They are filthy rich EVEN AFTER their tax deductible contributions. Greedy pigs. Now, we are headed for the worst economic and cultural crisis of all time. Crime, poverty, and suicide will skyrocket. SEND A “THANK YOU” NOTE TO YOUR FAVORITE MILLIONAIRE. ITS THEIR FAULT. I’m not discounting other factors like China, sub-prime, or gas prices. But all of those factors combined still pale in comparison to that HUGE transfer of wealth to the rich. Anyway, those other factors are all related and further aggravated because of GREED. If it weren’t for the OBSCENE distribution of wealth within our country, there never would have been such a market for sub-prime to begin with. IF IT WEREN’T FOR THE OBSCENE, UNREASONABLE, AND UNJUST DISTRIBUTION OF UNITED STATES WEALTH, THERE NEVER WOULD HAVE BEEN SUCH A MARKET FOR SUB-PRIME AND THERE NEVER WOULD HAVE BEEN A COLLAPSE IN THE HOUSING MARKET. Sub-prime did not cause the problem. It only accelerated the outcome. Which by the way, was another trick whipped up by greedy bankers and executives. IT MAKES THEM RICHER. The credit industry has been ENDORSED by people like Oprah Winfrey, Ellen DeGeneres, Dr Phil, and many other celebrities. IT MAKES THEM RICHER. In fact, they specifically endorsed Countrywide by name. The same Countrywide widely responsible for predatory adjustable rate sub-prime lending and the accelerated collapse of the housing market. ENDORSED BY OPRAH WINFREY, ELLEN DEGENERES, AND DR PHIL. Now, there are commercial ties between nearly every industry and every public figure. IT MAKES THEM RICHER. It also drives up the cost for nearly every product and service on the market. So don’t fall for their ‘good will’ BS. ITS A LIE. If you fall for it, then you’re a fool. If you see any real difference between the moral character of a celebrity, politician, attorney, or executive, then you’re a fool. No offense fellow citizens. But we have been mislead by nearly every public figure. We still are. Even now, they claim to be ‘hurting’ right along with the rest of us. As if gas prices actually effect the lifestyle of a millionaire. ITS A LIE. IN 2007, THE RICHEST 1% INCREASED THEIR AVERAGE BOTTOM LINE WEALTH AGAIN. On average, they are now worth over $4,000,000 each. That's an all time high. As a group, they are now worth well over $17,000,000,000,000. THAT'S WELL OVER SEVENTEEN TRILLION DOLLARS. Another all time high. Which by the way, is much more than the entire middle and lower classes combined. Also more than enough to pay off our national debt, fund the Iraq war for a decade, repair our infrastructure, and bail out the US housing market. Still think that our biggest problem is China? Think again. Its the 1% club. That means every big name celebrity, athlete, executive, entrepreneur, developer, banker, and lottery winner. Along with many attorneys, doctors, and politicians. If they are rich, then they are part of the problem. Their incredible wealth was not ‘created’, ‘generated’, grown in their back yard, or printed up on their command. It was transferred FROM US TO THEM. Directly and indirectly. Its become near impossible to spend a dollar without making some greedy pig even richer. Don’t be fooled by the occasional loss of a millionaire’s fortune. Overall, they just keep getting richer. They absolutely will not stop. Still, they have the nerve to pretend as if they care about ordinary people. ITS A LIE. NOTHING BUT CALCULATED PR CRAP. WAKE UP PEOPLE. THEIR GOAL IS TO WIN THE GAME. The 1% club will always say or do whatever it takes to get as rich as possible. Without the slightest regard for anything or anyone but themselves. Reaganomics. Their idea. Loans from China. Their idea. NAFTA. Their idea. Outsourcing. Their idea. Sub-prime. Their idea. High energy prices. Their idea. Oil ‘futures’. Their idea. Obscene health care charges. Their idea. The commercial lobbyist. Their idea. The multimillion dollar lawsuit. Their idea. The multimillion dollar endorsement deal. Their idea. $200 cell phone bills. Their idea. $200 basketball shoes. Their idea. $30 late fees. Their idea. $30 NSF fees. Their idea. $20 DVDs. Their idea. Subliminal advertising. Their idea. Brainwash plots on TV. Their idea. Vioxx, and Celebrex. Their idea. Excessive medical testing. Their idea. The MASSIVE campaign to turn every American into a brainwashed, credit card, pharmaceutical, medical testing, love-sick, celebrity junkie. Their idea. All of the above drive up the cost of living, shrink the middle class, concentrate the world’s wealth and resources, create a domino effect of socioeconomic problems, and wreak havoc on society. All of which have been CREATED AND ENDORSED by celebrities, athletes, executives, entrepreneurs, attorneys, and politicians. IT MAKES THEM RICHER. So don’t fall for any of their ‘good will’ ‘humanitarian’ BS. ITS A SHAM. NOTHING BUT TAX DEDUCTIBLE PR CRAP. In many cases, the ‘charitable’ contribution is almost entirely offset. Not to mention the opportunity to plug their name, image, product, and ‘good will’ all at once. Which is usually done just before or after the release of their latest commercial project. IT MAKES THEM RICHER. These filthy pigs even have the nerve to throw a fit and spin up a misleading defense with regard to ‘federal tax revenue’. ITS A SHAM. THEY SCREWED UP THE EQUATION TO BEGIN WITH. If the middle and lower classes had a greater share of the pie, they could easily cover a greater share of the federal tax revenue. They are held down in many ways because of greed. Wages remain stagnant for millions because the executives, celebrities, athletes, attorneys, and entrepreneurs, are paid millions. They over-sell, over-charge, under-pay, outsource, cut jobs, and benefits to increase their bottom line. As their profits rise, so do the stock values. Which are owned primarily by the richest 5%. As more United States wealth rises to the top, the middle and lower classes inevitably suffer. This reduces the potential tax revenue drawn from those brackets. At the same time, it wreaks havoc on middle and lower class communities and increases the need for financial aid. Not to mention the spike in crime because of it. There is a domino effect to consider. IT CAN’T WORK THIS WAY. But our leaders refuse to acknowledge this. Instead they come up with one trick after another to milk the system and screw the majority. These decisions are heavily influenced by the 1% club. Every year, billions of federal tax dollars are diverted behind the scenes back to the rich and their respective industries. Loans from China have been necessary to compensate in part, for the red ink and multi-trillion dollar transfer of wealth to the rich. At the same time, the feds have been pushing more financial burden onto the states who push them lower onto the cities. Again, the hardship is felt more by the majority and less by the 1% club. The rich prefer to live in exclusive areas or upper class communities. They get the best of everything. Reliable city services, new schools, freshly paved roads, upscale parks, etc. The middle and lower class communities get little or nothing without a local tax increase. Which, they usually can’t afford. So the red ink flows followed by service cuts and lay-offs. All because of the OBSCENE distribution of bottom line wealth in this country. Anyway, when you account for all federal, state, and local taxes, the middle class actually pay about the same rate as the rich. The devil is in the details. So when people forgive the rich for their incredible greed and then praise them for paying a greater share of the FEDERAL income taxes, its like nails on a chalk board. I can not accept any theory that our economy would suffer in any way with a more reasonable distribution of wealth. After all, it was more reasonable 30 years ago. Before Reaganomics came along. Before GREED became such an epidemic. Before we had an army of over-paid executives, bankers, celebrities, athletes, attorneys, doctors, investors, entrepreneurs, developers, and sold-out politicians to kiss their asses. As a nation, we were in much better shape. Strong middle class, free and clear assets, lower crime rate, more widespread prosperity, stable job market, lower deficit, etc. Our economy as a whole was much more stable and prosperous for the majority. WITHOUT LOANS FROM CHINA. Now, we have a more obscene distribution of bottom line wealth than ever before. We have a sold-out government, crumbling infrastructure, energy crisis, home foreclosure epidemic, credit crunch, weak US dollar, 13 figure national deficit, and 12 figure annual shortfall. The cost of living is higher than ever before. Most people can’t even afford basic health care. ALL BECAUSE OF GREED. I really don’t blame the 2nd -5th percentiles in general. No economy could ever function without some reasonable scale of personal wealth and income. But it can’t be allowed to run wild like a mad dog. ALBERT EINSTEIN TRIED TO MAKE PEOPLE UNDERSTAND. UNBRIDLED CAPITALISM ABSOLUTELY CAN NOT WORK. TOP HEAVY ECONOMIES ALWAYS COLLAPSE. Bottom line: The richest 1% will soon tank the largest economy in the world. It will be like nothing we’ve ever seen before. The American dream will be shattered. and that's just the beginning. Greed will eventually tank every major economy in the world. Causing millions to suffer and die. Oprah, Angelina, Brad, Bono, and Bill are not part of the solution. They are part of the problem. THERE IS NO SUCH THING AS A MULTI-MILLIONAIRE HUMANITARIAN. EXTREME WEALTH MAKES WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. WITHOUT WORLD PROSPERITY, THERE WILL NEVER BE WORLD PEACE OR ANYTHING EVEN CLOSE. GREED KILLS. IT WILL BE OUR DOWNFALL. Of course, the rich will throw a fit and call me a madman. Of course, they will jump to small minded conclusions about ‘jealousy’, ‘envy’, or ’socialism’. Of course, their ignorant fans will do the same. You have to expect that. But I speak the truth. If you don’t believe me, then copy this entry and run it by any professor of economics or socioeconomics. Then tell a friend. Call the local radio station. Re-post this entry or put it in your own words. Be one of the first to predict the worst economic and cultural crisis of all time and explain its cause. WE ARE IN BIG TROUBLE.

So what can we do about it? Well, not much. Unfortunately, we are stuck on a runaway train. The problem has gone unchecked for too many years. The US/global depression is coming thanks to the 1% club. It would take a massive effort by the vast majority to prevent it. Along with a voluntary sacrifice by the rich. THAT'S NOT GOING TO HAPPEN. But if you believe in miracles, then spend your money as wisely as possible. Especially in middle and lower class communities. Check the Fortune 500 list and limit your support of high profit/low labor industries (Hollywood, pro sports, energy, credit, pharmaceutical, cable, satellite, internet advertising, cell phone, high fashion, jewelry, etc.). Cancel all but one credit card for emergencies only. If you need a cell phone, then do your homework and find the best deal on a local pre-pay. If you want home internet access, then use the least expensive provider, and share accounts whenever possible. If you need to search, then use the less popular search engines. They usually produce the same results anyway. Don’t click on any internet ad. If you need the product or service, then look up the phone number or address and contact that business directly. Don’t pay to see any blockbuster movie. Instead, wait a few months and rent the DVD from a local store or buy it USED. If you want to see a big name game or event, then watch it in a local bar, club, or at home on network TV. Don’t buy any high end official merchandise and don’t support the high end sponsors. If its endorsed by a big name celebrity, then don’t buy it. If you can afford a new car, then make an exception for GM, Ford, and Dodge. If they don’t increase their market share soon, then a lot more people are going to get screwed out of their pensions and/or benefits. Of course, you must know by now to avoid those big trucks and SUVs unless you truly need one for its intended purpose. Don’t be ashamed to buy a foreign car if you prefer it. After all, those with the most fuel efficient vehicles consume a lot less foreign oil. Which accounts for a pretty big chunk of our trade deficit. Anyway, the global economy is worth supporting to some extent. Its the obscene profit margins, trade deficits, and BS from OPEC that get us into trouble. Otherwise, the global economy would be a good thing for everyone. Just keep in mind that the big 3 are struggling and they do produce a few smaller reliable cars. Don’t frequent any high end department store or any business in a newly developed upper class community. By doing so, you make developers richer and draw support away from industrial areas and away from the middle class communities. Instead, support the local retailer and the less popular shopping centers. Especially in lower or middle class communities. If you can afford to buy a home, then do so. But go smaller and less expensive. Don’t get yourself in too deep and don’t buy into the newly developed condos or gated communities. Instead, find a modest home in a building or neighborhood at least 20 years old. If you live in one of the poorer states, then try to support its economy first and foremost. Be on the lookout for commercial brainwash plots on TV. They are written into nearly every scene of nearly every show. Most cater to network sponsors and parent companies. Especially commercial health care. Big business is fine on occasion depending on the profit margins and profit sharing. Do your homework. If you want to support any legitimate charity, then do so directly. Never support any celebrity foundation. They spend most of their funding on PR campaigns, travel, and high end accommodations for themselves. Instead, go to Charitywatch.org and look up a top rated charity to support your favorite cause. In general, support the little guy as much as possible and the big guy as little as possible. Do your part to reverse the transfer of wealth away from the rich and back to the middle and lower classes. Unfortunately, there is no perfect answer. Jobs will be lost either way. Innocent children will starve and die either way. But we need to support the largest group of workers with the most reasonable profit margins. We also need to support LEGITIMATE charities (Check that list at Charitywatch.org). This is our only chance to limit the severity and/or duration of the comming US/global depression. In the meantime, don’t listen to Bernanke, Paulson, Bartiromo, Orman, Dobbs, Kramer, O'Reiley, or any other public figure with regard to the economy. They are all plenty smart but I swear to you that they will lie right through their rotten teeth. IT MAKES THEM RICHER. These people work for big business. The ‘experts’ they cite also work for big business. They are all motivated by their desire to accumulate more wealth. THEY WILL LIE RIGHT THROUGH THEIR ROTTEN TEETH. So don’t fall for their tricks. Instead, look at the big picture. The economic problems we face have been mounting for well over 20 years. All of them caused or aggravated by a constant transfer of wealth from poorer to richer. Soon, it will cause the first ever GLOBAL DEPRESSION. Its not brain surgery. Its simple math. Like I said, you are welcome to run this by any professor of economics or socio-economics. If that's not good enough, then look up what Einstein had to say about greed, extreme wealth, and its horrible consequences. I speak the truth. GREED KILLS. IT WILL BE OUR DOWNFALL.

Its already underway. A massive campaign to divert our attention. Trump, Buffet, OReiley, Dobbs, Pickens, Norris, and several other well known filthy rich public figures have been running their mouths about the economy. Finally admitting a hint of severity after almost 2 years of denial. They even have the nerve to acknowledge the possibility of a US/global depression. Still, they refuse to acknowledge the single greatest underlying cause. Remember: Our national debt was way up BEFORE sub-prime. Consumer debt was way up BEFORE sub-prime. The cost of living was up BEFORE sub-prime. Wall Street profits were obscene BEFORE sub-prime. The middle class were loosing free and clear assets BEFORE sub-prime. Our infrastructure was in bad shape BEFORE sub-prime. Loans from China were taken out BEFORE sub-prime. The dollar was loosing value BEFORE sub-prime. So don’t let these cowardly filthy rich public figures divert your attention or limit your range of thought. THE CURRENT ECONOMIC CRISIS WAS NOT CAUSED BY A SINGLE POLICY OR PROCEDURE. IT WAS CAUSED PRIMARILY BY A MASSIVE TRANSFER OF WEALTH FROM POOR TO RICH. OTHERWISE, THERE WOULD NOT HAVE BEEN SUCH A MARKET FOR SUB-PRIME AND THERE WOULD NOT HAVE BEEN A GLOBAL CREDIT CRUNCH. MONEY DOES NOT GROW ON TREES AND IT DOES NOT FLOAT AWAY. IT ONLY TRANSFERS FROM ONE PARTY TO ANOTHER. ALBERT EINSTEIN TRIED TO MAKE PEOPLE UNDERSTAND. GREED KILLS. IT WILL BE OUR DOWNFALL.

A word for those who respond with the usual ‘I know more than you. Look how smart, knowledgable, and articulate I am’ crap. Let me say this in advance. I don’t claim to be an expert in this field. But I did go on record with these predictions long before any public figure uttered the word ‘recession’. If you search long enough, you will find my early postings from ‘05′ and ‘06′. Including the first draft of this rant. Since then, I’ve gone on record against people like Greenspan, Bernanke, and Paulson. So far, my predictions have been accurate. Like I said. This is not brain surgery. For the most part, its simple math. When you concentrate the world’s wealth, you also concentrate its capital and shrink the middle class along with the potential market for every major industry. Homes go unsold. Bills go unpaid. Banks fail. More products go unsold. Jobs are lost. More banks fail. and so on. and so on. It happened 80 years ago. It will happen again. This time on a global scale. Throughout the cycle, the rich will tighten their grip. Concentrating the world’s wealth and resources even further and ensuring the collapse of every major economy worldwide. Think it can’t happen? Think again. GREED KILLS. IT WILL BE OUR DOWNFALL.

Another thing. I don’t want credit for any of this. Otherwise, I would have given my full name a long time ago. As far as I’m concerned, you can put this rant in your own words and take credit for all of it. I don’t care. Just spread the word. Otherwise, the greatest injustice of all time will go down in history unchecked.

By the way. The bailout won’t work. IT WON’T WORK. The plan fails to address the fundamental problem. The middle class don’t need more credit. They need a reasonable share of the economic pie. They also need a lower cost of living and a chance to catch their breath. Most of all, they need to wake up and see the truth. GREED KILLS. IT WILL BE OUR DOWNFALL.


For the record, I corrected a couple of miss-spellings, but other than that, posted as I found it.

It's thoughtful, provocative and makes me feel like soylent green. I don't think it's so far off the mark, though. As the writer suggested, please share at will--whatever you think, it certainly can't hurt.

AKS said...

@ anon146

I just skimmed through the post and don't really want to comment on the contentions raised therein (I'm on holiday and don't want to do anything stressful).

The only thing I want to point out is that the characterisation of Hollywood, pro sports, energy, credit, pharmaceutical, cable, satellite, internet advertising, cell phone, high fashion and jewelry as high profit/low labor industries highlights an extremely limited understanding of economics, and well, a clear lack of common sense.

@ Bubs

I too found the VP non-debate to be pretty boring. It was a field day for speech writers.

Ahsan said...

Anon146:

This is a momentous occasion in Five Rupees' history, because for the first time ever, I simply refused to read a reader's comment in its entirety. Nothing personal, but the way it started and the length of it convinced me it would be unwise to do so.

In general:

One other thing about the debate: I think I'm going to use the word "champ" a lot more going forward. I really like it. In fact, my first TA section is on Monday and I'm definitely going to try to work it in somehow.

Anonymous said...

yes, david brooks is totally crazy. his piece on McCain last week was quite lame as well.

naqiya said...

@bubs:
http://www.washingtonpost.com/wp-dyn/content/article/2007/03/24/AR2007032400305_pf.html

its pretty well documented that joe biden is pretty much the poorest senator ever, and apparently he is pretty proud of it too (according to wiki). the palin's net worth has been quoted in various newspapers (that have been in front of me over the years)

AKS said...
This comment has been removed by the author.
AKS said...

@ Naqiya

I just came across a Newsweek story on politicians and their homes according to which Biden's home is worth around $3 Million. Apparently there are also some irregularities as to how he got the money to build the house.

Here's the link:

http://www.newsweek.com/id/162691?from=rss?nav=slate

Moreover, the figure for the McCain family fortune as quoted in the Washington Post story doesn't seem to be correct.

The Post values Cindy McCain's shareholding in Hennesy & Co at $1 Mn.

As per Wikipedia, Cindy McCain is Chairman of the company and along with her family controls 68% of the stocks. The company's reported to be worth around $250 Million which would value the McCain shareholding at $170 Million.

Hell, her annual donations alone appear to be in the region of $1 Mn.

Wikipedia Link:

http://en.wikipedia.org/wiki/Hensley_%26_Co.