The Economics of Fear
Congressman Sherman said "Many of us were told in private conversations, that if we didn't pass this bill on Monday, the sky would fall, the market would drop two or three thousand points, another couple thousand the second day, and a few members were even told that there would be Martial Law in America if we voted no."
Watch: http://www.youtube.com/watch?v=gnbNm6hoBXc
According to Wikipedia: Martial law is the system of rules that takes effect when the military takes control of the normal administration of justice.
Martial law is sometimes imposed during wars or occupations in the absence of any other civil government. Examples of this form of military rule include Germany and Japan after World War II or the American South during the early stages of Reconstruction. In addition it is used by governments to enforce their rule, for example after a coup d'état (Thailand 2006), when threatened by popular protests (Tiananmen Square protests of 1989), or to crack down on the opposition (Poland 1981 ). Martial law can also be declared in cases of major natural disasters; however most countries use a different legal construct, such as a "state of emergency".
In many countries martial law imposes particular rules, one of which is curfew. Often, under this system, the administration of justice, called a court-martial . The suspension of the writ of habeas corpus is likely to occur.
Bailouts don’t work, and never have. This one won’t work either. It will have the side effects of damaging our nation’s credit, sucking up our taxpayer’s resources, and (when done with debt) weakening our currency.
So let’s go back to what we know works. After Hoover’s 1931 bailout of the banks failed, FDR did a cold reboot of the entire system, putting into place strong rules to prevent speculative abuse. And he doubled the STET tax, both producing revenue that more than funded the Securities and Exchange Commission and further prevented a repeat of the speculative bubble of the 1920s that led directly to the Republican Great Depression.
The regulations put in place since the last depression have been unraveled since Reagan. We are now again looking at the possibility of another Republican Great Depression.
Let’s also remember FDR said “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself -- nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.”
FDR said this in 1933 and he was referring to the economic conditions of the time – The Republican Great Depression.
- FILED UNDER: Host Posts, $700 Billion Bailout, Congress, Democratic Party, Economy, Legislation, Recession, The House, The Senate, Wall street, White House
- October 7, 2008
Yeah, republican fearmongering is disgusting.
But my question to the dems is why did you fall for it- again?
This is the same shit the radical right has pulled for the last eight years.
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By thaelmann37October 7, 2008 - 11:32amFearmongering
And my question is, why are they surprised? Everything this administration has done, and everything the Republican Party has been doing for the past 28-30 years was leading to this. Could it be that those who were threatened knew that it was not an idle threat?
We already have troops in the U.S. ready to be turned against our Citizens. Does any one think it's coincidence that it's just a month before the election?
The Republican Fascists are already in control of (or own) the economy; so many of our liberties have already been stolen; the Constitution has been shredded and we are being led by a group of "sociopaths", who openly flaunt the law and lie, boldly. So tell me, what's taken us so long to figure out this was going to happen.
I'm just listening to Thom's guest, Bruce Fine, and he's telling it like it really is. And we, my fellow citizens, have allowed it to happen. We are truly living in a "Brave New World" or worse!
'The only thing necessary for the triumph of evil is for good men to do nothing.’
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By suelucOctober 7, 2008 - 12:18pmYep, it's a republican recession alright...
Community Reinvestment Act...Signed by Jimmy Carter (D)
"D D Dere is Noting wong wid da Fannie Mae and da Freddie Mac...My Gay luver at da Freddie Mac says so"...Barney Frank (D)
Lawsuits from ACORN and other lefties against the banks for racist "Red-Lining" against the poor blacks...litigated by the Obamessiah (D)
Banks being forced to remove all restrictions (except breathing) for loans to the poor and blacks under penalty from the fed under the CRA.
Franklin Raines (D) driving Fannie into the ground while collecting millions and funneling them to the Obamessiah
As for the martial law, might have been good practice for Jan. 20 when the Obama Youth Alpha/Omega troops goose step down Pennsylvania Avenue in the victory parade beating up women without their burquas.
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By Old_Farmer_McLeftyOctober 7, 2008 - 12:56pmCitations please?
Oh, that's right, Shitkicker. You don't have any. Why don't you talk about the ruin that deregulation has done to America? The outsourced jobs and the destruction of the great American middle class? Why do you hate the American middle class?
Fucking redneck. How proud you must make your mother. Daddy too, if you knew who he was.
You don't have to burn books to destroy a culture. Just get people to stop reading them.
---Ray Bradbury
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By LiberalIconoclastOctober 7, 2008 - 1:01pmIt is a Republican recession as you scum
have had almost complete control for the past 30 years. It shows that Reaganomics and "conservative" trickle down economics dont work. And it was Bush who, in 2002, opened up Fannie Mae and Freddie Mac to give loans to poorer people with no regulation. So stop lying, you uneducated inbred hillbilly.
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By hufflarry2000October 7, 2008 - 1:05pmBy Old_Farmer_McLefty October 7, 2008 - 1:56pm
That's "the President Obamessiah" to you, milkshake.
Practice makes perfect.
____________________
John McCain's Economic History: http://keatingeconomics.com/
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By SJerseyIndyOctober 7, 2008 - 2:24pmwho was responsible for the
who was responsible for the collapse of the housing bubble in '29? greedy cock-sucker capitalists? or was it a back-lash against the permanent lower class actually making some gains? capitalism functions better with higher poverty levels, better for corporations.
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By commiecakesOctober 7, 2008 - 4:14pmBiden needs someone to give him a history lesson:
Being interviewed by Katie Couric on the "CBS Evening News," Biden said: "When the stock market crashed, Franklin D. Roosevelt got on the television and didn't just talk about the, you know, the princes of greed. He said, 'Look, here's what happened.'"
And this ignoramus wants to be VP?
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By momofukuOctober 7, 2008 - 12:57pmYou are the ignoramus
FDR was the first president on TV because they were testing it then. Not many people saw it but he was on TV. Stop repeating what Rush says you moron.
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By hufflarry2000October 7, 2008 - 1:00pmHey, dipshit...
The crash was in 1929. FDR wasn't prez until 1933. He may have been on test-TV but he certainly didn't go on right after the crash.
Chowderhead!
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By Old_Farmer_McLeftyOctober 7, 2008 - 1:04pmHey jackass
the depression did not start the moment the stock market crashed. It took time. The stock market continued to crash many times after the first crash.
Ignorant, uneducated white trash.
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By hufflarry2000October 7, 2008 - 1:08pmYeah, the depression the very second FDR took office.
so that he could be the first president on television to point fingers as to its cause. By the way, it sure took awhile for the US to catch up to the rest of the world, regarding the depression, while it took us years longer to get out of it. GO DEMS GO FDR. You really know how to prolong the nations misery.
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By momofukuOctober 7, 2008 - 1:13pmMore lies and revisionist history.
It was Republicans then, just as now who caused the depression. Of course you have proof that the rest of the world recovered sooner. Did the rest of the world get hit as hard as the US? No proof? You are lying again.
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By hufflarry2000October 7, 2008 - 1:21pmRush called, lawn jockey. He'll give you some extra
Viagra and Oxy-Contin this week if you git yo ass to tendin' to his garden.
"She's Cheney in drag." Me
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By Pookie2112October 8, 2008 - 11:49amit took three years for the
it took three years for the stock market to lose 80%. keep watching genius. if you can't learn from history the least you can do is shut the fuck up and be observant.
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By commiecakesOctober 7, 2008 - 5:10pmAt least he didn't mention any "clean negro's" FDR had met.
LOL
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By momofukuOctober 7, 2008 - 12:58pmWTF are you on about now?
You are a bully and coward, Whigro. And you might get your ass kicked yet.
You don't have to burn books to destroy a culture. Just get people to stop reading them.
---Ray Bradbury
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By LiberalIconoclastOctober 7, 2008 - 1:03pmSo, do you have a problem with pookie and thaelman
joining us for this civil discussion we are to have? I did invite them, without consulting with you first, as would have been proper, seeing as how it is really your party, not mine.
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By momofukuOctober 7, 2008 - 1:15pmYou have not "joined the discussion"
Why you fucking asshole. You post inane, repetitive one-liners in an attempt to shut down the blog. You threaten my students. You make false accusations against longtime members. And you have the fucking BALLS to accuse me of stifling little baby's creativity?
Congratulations, troll. You have just made a fucking war for yourself that you cannot afford. If Huff won't divulge your identity to the webmaster, I'll find you myself. I will see to it that California and Federal authorities are made aware of your cyberterrorism. If Sam won't do anything about you, I will see you prosecuted.
You don't have to burn books to destroy a culture. Just get people to stop reading them.
---Ray Bradbury
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By LiberalIconoclastOctober 7, 2008 - 1:28pmYou are insane, aren't you?
Shut down the blog. Absurd. I have never threatened anyone. Please document this absurdity. I have not made any false accusations about anyone. And please, what cyber-terroism? You invited me for coffee. I am just following up on your invite. And I have always been polite about it. I even invited your buddies to join us, and offered to pay. Seems to me it is you and your kind that is making death threats, racists remarks, and the like.
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By momofukuOctober 7, 2008 - 6:29pmLiar, liar, pants on fire, lawn jockey.
How sad that lying comes so easily to you. Shows your LACK of character. Pathetic.
"She's Cheney in drag." Me
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By Pookie2112October 8, 2008 - 11:52amHave you forgotten to take your meds today?
you seem to have lost control of your faculties.
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By momofukuOctober 8, 2008 - 12:48pmLMAO - From your mouth to my ass, lawn jockey!
"She's Cheney in drag." Me
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By Pookie2112October 8, 2008 - 12:57pmHave you forgotten to take your meds today?
you seem to have lost control of your faculties.
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By momofukuOctober 8, 2008 - 1:42pmLMAO - From your mouth to my ass, lawn jockey!
"She's Cheney in drag." Me
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By Pookie2112October 8, 2008 - 1:58pmWhy would I waste my time driving thousands of miles
so you could bore me in person.
Watching a neocon trying to preserve his carefully constructed alternate reality is amusing enough on a web site. I get enough of the " discussion" with my non too bright brother in law ( though even he is not voting for McCain).
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By thaelmann37October 7, 2008 - 4:29pmFuck off and DIE porch monkey.
You wouldn't know civility if it up and kicked your punk-ass.
You are an embarrassment. you are one ignorant and stupid mother fucker. A race baiting fucking coward who, if you died NOW, I'd dance in the streets.
"She's Cheney in drag." Me
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By Pookie2112October 8, 2008 - 11:45amAre you threatening me?
I call that a cyber terrorist threat. You should be reported immediately to the web master.
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By momofukuOctober 7, 2008 - 6:31pmYou should drop dead. There, now go tell on me, crybaby.
"She's Cheney in drag." Me
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By Pookie2112October 8, 2008 - 11:53amUniformed Officer on McCain's stage
Thom:
I was very offended yesterday to see a uniformed officer openly rooting for a candidate. Maybe I'm just too old, but I thought it was illegal. Not improper if out of uniform, but definitely in uniform seems almost threatening.
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By kitpOctober 7, 2008 - 1:16pmread the executive orders
an economic crisis is an explicit (written law) grounds for instituting martial law.
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By commiecakesOctober 7, 2008 - 4:04pmWhat should we do?
So if Bush is staging a coup by deploying US Soldiers in the US for the first time since 1807 what should we do to protect our democracy? Can Bush be arrested and the police state reversed?
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By LNethersOctober 9, 2008 - 8:24am