Well Let's see,
The GM/Chrysler merger got shot down and GM is to make a huge announcement tomorrow when they report their dismal 3rd quarter earnings. Bankruptcy? Layoffs? Both? We'll see.
The DOW has plunged about 700 points since the Obamination won the election, there's a vote of confidence for you.
I noticed just last night that Toyota is running 0% interest commercials on television. Remember when Ford and GM did this? Didn't help Ford or GM. What's more is the following article.
2nd UPDATE:Toyota 2Q Profit Plunges 69%; Fiscal Year Outlook Cut In Half
November 06, 2008: 04:20 AM EST
TOKYO -(Dow Jones)- Toyota Motor Corp. (7203.TO) Thursday reported a nearly 70% drop in net profit for the fiscal second quarter and slashed its fiscal year forecast by more than half, projecting that its net profit will come in far below $10 billion due to a strong yen and slack sales in major markets.
Meanwhile "change" has come to Peru.
Peru suspends civil liberties over mining-royalties protest
Else where Jobless claims have risen to a level not seen in 25 years and lets not forget the ones who can no longer claim benefits and therefore aren't counted.
Continuing jobless claims hit 25-year high
Weekly initial claims fall 4,000 to 481,000, Labor Department reports
By Rex Nutting, MarketWatch
Last update: 8:47 a.m. EST Nov. 6, 2008
WASHINGTON (MarketWatch) -- The number of U.S. residents collecting state unemployment benefits reached the highest level in 25 years, rising by 122,000 to a seasonally adjusted 3.84 million in the week ending Oct. 25, the Labor Department reported Thursday.
Meanwhile, the number of first-time applications for benefits fell by 4,000 to 481,000 in the week ending Nov. 1, the government agency added. Read the full government report.
The jobless claims report shows businesses are laying off workers at a rapid pace, while finding a replacement job is ever harder.
Thanks to treaties like Bretton Woods
and programs like the Marshall Plan
The dollar has went from being one of the most reliable currencies (backed by a real commodity, instead of backed by the governments ability to tax) to a fiat world reserve currency. We have went from a creditor nation to a debtor nation. Since the bankers took over with the Federal Reserve we have went from largely minding our own business to being the worlds policeman. So what is in store for us tomorrow? Well here are some quotes from one of the men instrumental in creating the system we have before us today.
“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”
John Maynard Keynes
“The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”
John Maynard Keynes
“In truth, the gold standard is already a barbarous relic”
John Maynard Keynes
“For at least another hundred years we must pretend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury (bank interest) and precaution must be our gods for a little longer still.”
John Maynard Keynes
So, now we will get a new Bretton Woods which will dismantle the Dollar entirely and give us a new fiat currency. That is what your leaders will be doing over the next couple of months, formulating a plan to cede our currency to an international organization hell bent on making all countries equal. What I mean to say is redistributing the wealth to make all countries equal, with the bankers at the helm of course. The big problem with that from my point of view is that there are not enough resources to bring the world up to our standard of living so of course we must be brought down to their level.
A New Bretton Woods
Economies of scale
by Anne Pettifor
Global Research, October 30, 2008
The Guardian - 2008-10-21
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To restore stability to the global financial system (and therefore to trade and the ecosystem) we need a "great transformation" to reverse the most pernicious elements of the failed "globalisation" experiment. Three pillars are vital to any new international architecture. They are:
• The taming of financial markets – through the re-introduction of capital controls; restraints in the growth of credit; and the establishment of a Keynesian international clearing agency;
• "Upsizing" the state – empowering governments to respond to democratic mandates by wresting power over decision-making from unaccountable financial markets, and restoring policy autonomy to elected governments;
• "Downsizing" the single global market – by introducing an international trading system based on the concept of "appropriate scale".
Like it or not, the U.S. has been in receivership since 1971. Our treaties with OPEC, to use only the petrodollar
as a means of trade for oil has run its course. We can no longer borrow from the world for all of our worldly means, because the world is calling in our debt. Prepare to see your children live with a standard lesser than your own because the entire message behind a central bank is that Marx has won. When you finally come to the conclusion that the banks regard your money as their own, and that they only benevolently let you use their currency you will begin to understand that you are truly a slave to the creators of fiat monies. Think I'm nuts? Think about this. Most purchases are made with plastic today. It doesn't matter if you use a debit card or a credit card, most of the transactions you make are logged in into a central database clearing house. Look at your next Wall Mart receipt and realize that all of that information is not just evaporating into thin air. In the foreseeable future your insurance cost will be regulated b y the food you buy. Buy a gun or ammo with your card? Yep they know you are a gun owner. The banks are looking for a cashless society because they will then be able to completely control what you buy. No more running down to the dope dealer when you have no cash. But then again what else will be made illegal in a Marxist society? If one looks at it from the proper perspective using plastic is tantamount to being branded, just like cattle, because the more you use it the more your masters know about you. I wonder how many of you would take an RFID chip. It's coming, I don't know when, but it will be here.
Marx's fifth plank.
5. Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.
Americans call it the Federal Reserve which is a privately-owned credit/debt system allowed by the Federal Reserve act of 1913. All local banks are members of the Fed system, and are regulated by the Federal Deposit Insurance Corporation (FDIC) another privately-owned corporation. The Federal Reserve Banks issue Fiat Paper Money and practice economically destructive fractional reserve banking. http://www.libertyzone.com/Communist-Manifesto-Planks.html