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Old 03-27-2008, 05:47 PM #1
PDXMark
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Is Cheney betting on Economic Collapse?

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Originally Posted by By Mike Whitney @ informationclearinghouse.info
Well, as it turns out, Kiplinger Magazine ran an article based on Cheney’s financial disclosure statement and, sure enough, found out that the VP is lying to the American people for the umpteenth time. Deficits do matter and Cheney has invested his money accordingly.

The article is called “Cheney’s betting on bad news” and provides an account of where Cheney has socked away more than $25 million. While the figures may be estimates, the investments are not. According to Tom Blackburn of the Palm Beach Post, Cheney has invested heavily in “a fund that specializes in short-term municipal bonds, a tax-exempt money market fund and an inflation protected securities fund. The first two hold up if interest rates rise with inflation. The third is protected against inflation.”

Cheney has dumped another (estimated) $10 to $25 million in a European bond fund which tells us that he is counting on a steadily weakening dollar. So, while working class Americans are loosing ground to inflation and rising energy costs, Darth Cheney will be enhancing his wealth in “Old Europe”. As Blackburn sagely notes, “Not all ‘bad news’ is bad for everybody.”

This should put to rest once and for all the foolish notion that the “Bush Economic Plan” is anything more than a scam aimed at looting the public till. The whole deal is intended to shift the nation's wealth from one class to another. It’s also clear that Bush-Cheney couldn’t have carried this off without the tacit approval of the thieves at the Federal Reserve who engineered the low-interest rate boondoggle to put the American people to sleep while they picked their pockets.
[The rest of the article].
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Old 03-27-2008, 08:00 PM #2
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Meh, I dont like the man one bit but I highly doubt the Vice President of the United States is planning on 'the downfall of the dollar'. What he invests in is his own buisness as long as it is fair (and legal).
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Old 03-27-2008, 08:02 PM #3
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Originally Posted by corporationpaintball View Post
Meh, I dont like the man one bit but I highly doubt the Vice President of the United States is planning on 'the downfall of the dollar'. What he invests in is his own buisness as long as it is fair (and legal).
Don't forget, we are talking about people who 'want' power!

The CIA teaches use yet another very important rule, "never put anything past anyone"!
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Old 03-27-2008, 08:36 PM #4
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Don't forget, we are talking about people who 'want' power!

The CIA teaches use yet another very important rule, "never put anything past anyone"!
I dont know what is worse, Bill getting some action in the oval office or Cheney throwing our country into the rubish bin... hmm...

I still think we should have impeached Bill for lying to American People about sex...
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Old 03-27-2008, 10:46 PM #5
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if only it were that simple ...
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Old 03-27-2008, 11:51 PM #6
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Originally Posted by corporationpaintball View Post
Meh, I dont like the man one bit but I highly doubt the Vice President of the United States is planning on 'the downfall of the dollar'. What he invests in is his own buisness as long as it is fair (and legal).
Why the hell not? The dollar is already tanking, might as well put your money someplace safe for when it tanks even more.
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Old 03-27-2008, 11:58 PM #7
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As much as he isn't favored in the public eye, the man isn't dumb. You don't control 25b being a idiot. Do as he does, not as he says.
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Old 03-28-2008, 01:45 AM #8
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Sounds like he's pretty well diversified, to Dick.
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Old 03-28-2008, 08:26 AM #9
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If you can't see that we're heading towards at least a recession and at worst a second Depression, then you're a ****tard. I'm sure he would have known by now that something bad would happen and he's doing the right thing by investing his money elsewhere lol.

I've been betting on a collapse of some kind in this country for years... Hopefully it won't happen but you can wish in one hand and **** in the other and see which one fills up first.
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Old 03-28-2008, 04:55 PM #10
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He lied to us about sex? Maybe I missed it.

And as far as I remember i thought the federal reserve was the one who tanked our economy.
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Old 03-28-2008, 04:56 PM #11
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Quote:
Originally Posted by paintballpimp092 View Post
If you can't see that we're heading towards at least a recession and at worst a second Depression, then you're a ****tard. I'm sure he would have known by now that something bad would happen and he's doing the right thing by investing his money elsewhere lol.

I've been betting on a collapse of some kind in this country for years... Hopefully it won't happen but you can wish in one hand and **** in the other and see which one fills up first.
A second depression? A collapse? This economic downturn is nothing. There have been far far worse economic times in this country.
Who do we need to look to for the problems of this country. Not the people that lent the money, but the people who couldn't pay what they owed. Bear Stearn is your fault.
Why should the Fed help out the public? They are the ones that have caused all of this.
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Old 03-28-2008, 05:04 PM #12
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Originally Posted by paintballpimp092 View Post
If you can't see that we're heading towards at least a recession and at worst a second Depression, then you're a ****tard. I'm sure he would have known by now that something bad would happen and he's doing the right thing by investing his money elsewhere lol.

I've been betting on a collapse of some kind in this country for years... Hopefully it won't happen but you can wish in one hand and **** in the other and see which one fills up first.
Up an downturns happen roughly every decade. Welcome to economics 101. Stop listening to the news and learn something.
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Old 03-29-2008, 08:27 AM #13
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Originally Posted by berry_wendel View Post
A second depression? A collapse? This economic downturn is nothing. There have been far far worse economic times in this country.
Who do we need to look to for the problems of this country. Not the people that lent the money, but the people who couldn't pay what they owed. Bear Stearn is your fault.
Why should the Fed help out the public? They are the ones that have caused all of this.
I never said it wasn't the people's fault. People are idiots and have to go for "something bigger than the Jones family has got" in EVERYTHING, leading to them losing EVERYTHING because they can't afford to make payments on ANYTHING.

Adding more and more money into the system just causes problems anyways... When there's more of something, it's worth less. Inflation?

And the collapse/fall could be for any number of reasons, not just the economic problems we are having.

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Up an downturns happen roughly every decade. Welcome to economics 101. Stop listening to the news and learn something.
The government is bailing out banks every ten years?
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Old 03-29-2008, 09:29 AM #14
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Originally Posted by paintballpimp092 View Post
I never said it wasn't the people's fault. People are idiots and have to go for "something bigger than the Jones family has got" in EVERYTHING, leading to them losing EVERYTHING because they can't afford to make payments on ANYTHING.

Adding more and more money into the system just causes problems anyways... When there's more of something, it's worth less. Inflation?

And the collapse/fall could be for any number of reasons, not just the economic problems we are having.



The government is bailing out banks every ten years?
The government had to bail out Bear. The alternative would be bankruptcy, which would have had a huge negative impact on the stock market which would then translate to the economy.
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Old 03-29-2008, 11:03 AM #15
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Old 03-29-2008, 11:13 AM #16
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Originally Posted by berry_wendel View Post
A second depression? A collapse? This economic downturn is nothing. There have been far far worse economic times in this country.
Who do we need to look to for the problems of this country. Not the people that lent the money, but the people who couldn't pay what they owed. Bear Stearn is your fault.
Why should the Fed help out the public? They are the ones that have caused all of this.
You're right, the Federal Reserve DID create this whole mess, and yet, the U.S. Government won't stop giving them more and more power. Is it any wonder that Cheney is dumping his money elsewhere? Maybe he knows something we don't?

Like this gem of information from Forbes.com perhaps...

Quote:
Paulson To Propose Broad Overhaul Of U.S. Financial Regulation

A sweeping proposed overhaul of U.S. financial regulation is to be unveiled by Treasury Secretary Henry Paulson on Monday, according to reports.

The plan would give new powers to the Federal Reserve to be the primary regulator of market stability, with authority over all parts of the financial services industry.
And people called Martha a monster...

Connect the dots.
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Old 03-29-2008, 07:02 PM #17
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He lied to us about sex? Maybe I missed it.

And as far as I remember i thought the federal reserve was the one who tanked our economy.
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Old 03-29-2008, 09:47 PM #18
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I don't think you can blame Cheney for investing where he thinks he will earn money, I think everyone tries to do that (myself included). It just seems odd to us because he is the vice president of our country and most likely had a hand in on the events leading up to the current economic slowdown. I severely doubt he intentionally weakened the economy, regardless of if you agree with the policies put in place. However, we cant blame him for investing where he did.


Slightly off topic, but mentioned in this thread:

The argument that the government federal reserve shouldn't step in to bail out bear stearns holds some legitimacy, but i agree with what berry_wendel said by saying I think in the end it was a good move. I just really hope it doesn't become a weekly occurance.
I am guessing that the financial regulation overhaul would include some way to step in and bail out another bear stearns (if it happens again) while still maintaining a policy which doesn't get too involved with the day to day comings and goings in US business (as it should be). I'm certainly looking forward to finding out what the new policy will entail, though I certainly hope it does not get too authoritarian which Forbes made it out to be. We'll have to wait and see what happens I guess.
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Old 03-29-2008, 09:52 PM #19
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You can blame Cheney in the sense that his actions are hypocritical to his words. While he tells the American Public to spend, spend, spend and to buy American, he's out investing/saving his abroad.
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Old 03-29-2008, 09:57 PM #20
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Quote:
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Slightly off topic, but mentioned in this thread:

The argument that the government federal reserve shouldn't step in to bail out bear stearns holds some legitimacy, but i agree with what berry_wendel said by saying I think in the end it was a good move. I just really hope it doesn't become a weekly occurance.
I am guessing that the financial regulation overhaul would include some way to step in and bail out another bear stearns (if it happens again) while still maintaining a policy which doesn't get too involved with the day to day comings and goings in US business (as it should be). I'm certainly looking forward to finding out what the new policy will entail, though I certainly hope it does not get too authoritarian which Forbes made it out to be. We'll have to wait and see what happens I guess.
Government bail outs create a negative externality; when a firm knows that the government will step in and bail them out from bankruptcy, the firm will make more risky investments and be less fiscally responsible overall, which in turn leads to an increase in bankruptcies and unsound business ventures.
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Old 03-29-2008, 10:17 PM #21
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Government bail outs create a negative externality; when a firm knows that the government will step in and bail them out from bankruptcy, the firm will make more risky investments and be less fiscally responsible overall, which in turn leads to an increase in bankruptcies and unsound business ventures.
I acknowlege this, and to an extent, agree with this, but I simply don't think this will occur often at all in the future. However, in case it does, the new policy that is in the works at the moment needs to reflect this and not oblige the government to step in to cover for a corporation's incompetance.
In no way should what the government did become customary. Ideally it will not have to happen again. But, again, like I mentioned in my original post, I believe the bear bail-out was a good decision, considering it was made in the heat of the moment. It would be hard to say I personally could do a better job.
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