Wed 24 Sep 2008
Even Jay Smooth doesnt understand the Economic crisis…
Posted by Miss Info under life beyond rap , lightbulb , sigh.... , videos[29] Comments
…and that makes me feel better. But only slightly.
Ok, Jay….how bout I explain it this way….
Your life of being careful and frugal will now benefit those who were reckless and exorbitant.
back in the day, the government bought out 225 billion dollars in bad loans. They were later able to sell them…..for 140 billion.
um. $85 billion dollar loss. Not really a good thing.
(this time around….it’ll be way worse)
September 24th, 2008 at 5:47 am
anyone who thinks Miss Info and Jay Smooth should have a hip-hop blogging super child that will eventually save the music, give me a “HELL YEAH…”
dj Raj Lovesoul
http://www.lovesoul.tv
new videos by Q-tip, Lil Wayne on SNL, Kano
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September 24th, 2008 at 8:38 am
Taking ’serious’ up another notch, people really need to take an in depth look at the ’slick shit’ provision stating that the people (i.e. tax payers) nor the govmnt can have any say or question how the $700 Bil will be distributed or managed !@#@! Yeah, that’s not going to bite poor people in the a$$ sometime in the near future!
Picture that w/a kodak insta-mat-ack…
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September 24th, 2008 at 9:49 am
actually, a lot of the people who were reckless and exorbitant have been releaved of their duties. and lets not forget those risk-taking investors were products of our educational system, some of the most renown schools in the country. and in addition to that, they technically didn’t do anything illegal. also, it is being argued that the bailout package is not to help individuals but to help the financial system, which is supposed to be to the benefit of us all. to look at it another way, aig has over 100,000 employees worldwide. to think that they were all directly responsible for the bad bets is foolish. And if you notice, neither obama nor mccain object strongly to these notions. although they, much like bernanke and paulson, are uncertain as to their potential for success.
oh, and i think a lot of people forget about the root cause of much of this, the inflated real estate market. which is something, arguably, that thousands upon thousands of regular citizens took part in.
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September 24th, 2008 at 10:40 am
McCain ‘08!!!
Economic Crisis = Too many broke ass people went and got houses, big screen tvs, and whips knowing damn well they couldnt afford to make the payments in the long run. People need to live within their means and stop trying to floss, if they did, they would save enough dough to invest it and make the type of money they front like they do.
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September 24th, 2008 at 2:23 pm
Economic Crisis = Scare Tactic
If you understand American History then you know that an Economic Crisis has been used as a scare tactic for centuries so a certain Elite can remain in power of those who feel like they have no control over their own lives. My brothers and sisters please do not be fooled into yet another fear tactic. People in fear are easy to control. Bad laws are passed and horrible bills are signed from the consent of a nation under fear. God bless.
“A human being develops in mind, body, and soul by making use of things, and society is so organized that we humans must have money to become the possesser of things; therefore, the advancement of all humans is to get rich.
The object of all life is development; and everything that lives has an inailienable right to all the development it is capable of attaining.
A humans right to life means his right to have free and unrestricted use of all things which may be necessary to mental, spiritual, and physical unfoldment; or, in other words, the RIGHT to be RICH! Every human being should have all that can contribute to the power, elegance, beauty, and richness of life; to be content with less is sinful.
Life has advanced so far, and become so complex, that even the most ordinary man or woman requires a great amount of wealth to live in a manner that even approaches completeness. Every person naturally wants to become all that they are capable of becoming; we cannot help wanting to be all we can be; success in life is becoming what you want to be; you can become what you want to be only by making use of things, and you can have the free use of things only as you become rich enough to buy them. To understand the SCIENCE of GETTING RICH is therefore most essential of all knowledge.
There is nothing wrong with wanting to get rich. The desire for riches is really the desire for a richer, fuller, and more abundant life; and that desire is praise worthy. The man who does not desire to live more abundantly is abnormal, and so the man who does not desire to have the money enough to buy all he wants is abnormal.”
-Dr Wallace Wattles
P.S. If you just connected with what Dr. Wattles wrote in 1912, then you might wanna read his book: “The Science of Getting Rich” (Google has it online for free)
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September 24th, 2008 at 2:44 pm
economic crisis = fear of being broke, fear of not being able to provide for your family, fear of not being able to secure a prospers future for you and your family, fear of not being to enjoy the fruits of your labor, etc…
@baby bobby…save your pscho-babble, and scare tactics propaganda, and btw what was your point?…lol
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September 24th, 2008 at 3:21 pm
btw what was your point?…lol
My thoughts about the economy crisis being a scare tactic was in relation to Jays video. Kevgnyc and many others would feel elated to know that once you free yourself from your fears, you open the door for many blessings to come your way. What you think about you bring about, so if you live in fear of all those things that Kevgnyc named then you are actually attracting more of what you fear.
My bad, I should’ve stated my motive for posting the article by Dr. Wattles. It was in reference to Miss Infos comments relating to the video. That we should live a more frugal life in order to protect the economy.
There’s a reason that this economy mumbo jumbo is so conveluted and confusing, it was meant to be that way for those who arent in fear of what comes on the news and it was also meant for us to have this mentality that there isn’t enough to go around. There is enough for EVERYONE. Dont believe in the scarcity game that they’re playing on us.
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September 24th, 2008 at 3:29 pm
The US has a mixed capitalis economy, which comprises of privately owned, state ownership e.t.c
Everything has a chain reaction, the dollar is weak, which means International Trade feels the strain.
US imports vehicles. The ratio is 759 automobiles per 1,000 Americans. Which means more oil is required. US also imports machinery, electricals e.t.c. Businesses in the private sector started cutting cost by outsourcing labor to foreign countries which means jobs were lost, unemployment increases and more people on welfare. The General public picks up the tab. From employees to businesses e.t.c via inreased tax rates.
High gas prices also means higher transportation costs from air travel e.t.c. Transportation goes up to cover increased cost.
The dollar is losing value at an alarming rate, International Trade suffers due to the increased cost of purchase of equipment, pharmaceuticals e.t.c.
War = Global Army, Navy bases e.t.c set up worldwide, US troops deployed, who picks up the tab for weapons, ammunition, accomodation, healthcare, e.t.c the general public. Military spending in 2006 was over $528 billion. The proposed base Department of Defense budget for 2009, $515.4 billion. The estimated cost of the Iraq War to the U.S. through 2016 is $2.267 trillion.
Guess who picks up the tab?
George Bush is requesting tohelp fix the problem by giving away $700Billion Dollars in debt relief, loans e.t.c. That is the same as filling up an empty bucket full of holes with water.
McCaine has voted 90% in agreement with President Bush, He also voted that Health Insurance companies should not cover birth control but can cover viagra which means, a growing population with more mouths to feed fatter pockets for Phamaceuitical companies, more kids single moms e.t.c. Bill Oreilly co-signed that decision, I wonder why?
Obama is proposing to fix the holes before filling the water. McCaine wants to continue with things exactly the way they are because he doesn’t see how it will ever affect him. Compare both manifestos.
McCaine’s Second in Command and potential President is from Alaska, Is Alaska racially diverse, can she govern a big city (doubt that). Is he taking this election seriously?
Obama’s second in command has been in Washington his whole life, he knows what works and what doesn’t.
Obama says, “I’m asking you to believe. Not just in my ability to bring about real change in Washington…I’m asking you to believe in yours.
Register to vote. Obama can unite the nation McCaine can’t and will not.
OBAMA=PROGRESSION McCAINE=REGRESSION
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September 24th, 2008 at 3:55 pm
oy…my brain is gonna explode.
@ baby bobby…by the way, I dont think we should live frugal. I just know that alot of us have been more conservative because we have less means….and aren’t as encouraged to take financial risk, as the rich.
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September 24th, 2008 at 4:44 pm
Relax Inf lol I dont want your brain to explode, but isnt that what true faith is? Even though you may not know where your next dollar is going to come from, you can have faith that if you live a fear free, happy (something only an indidividual controls for him/herself) and love-giving life, you’ll get in return all you ever desired. Its scientific!
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September 24th, 2008 at 5:16 pm
@Baby Bobby, No disrespect, I’m fearless, a worrior you dig? But I need fear to alert me of danger. I know not to walk in to a hungry lions den coz fear lets me knw that I can get ate.
There are hundreds of people losing their homes, businesses closing down, there is a continous negative economic growth being announced in each fiscal quarter. You can’t base life decisions based on 1 mans opinion dated before the recession.
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September 24th, 2008 at 6:58 pm
“I need fear to alert me of danger”
A man that truly has no fear does not even attract danger to him, because he has faith that he creates his own protection from projecting love, kindess, and peace from within himself. A mans worries is the detriment to survival.
“You can’t base life decisions based on 1 mans opinion dated before the recession.”
I guess you’ve never heard of the depression era. lol
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September 24th, 2008 at 7:03 pm
You’re right though, you cant base your life decisions based on another mans shit and what he’s going through. All you can do is honor what feels truthful to your soul.
I respect Jay Smooth for admitting this shit is confusing. The smartest smart men in the world are smart enough to admit when they arent that smart.
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September 24th, 2008 at 8:47 pm
This thing is confusing for most people and that’s because when most people hear that it’s the fault of Real Estate market they take it literally.
Yes there was a problem with the real estate market but the problem was not that people were folding on their properties. The problem was that wall street was able to create a derivative on home mortgages called a CDO that lessen the risk of giving mortgages to people who were bad credit risk. When you do that you get the profit but pass the risk on to someone else like a game of hot potato. They kept doing it and doing it until it was time to pay the piper. Now that it was messed up bank are having a total panic and refusing to give anyone credit good rating or bad. That makes the market come to a stand still, because businesses need credit to run.
In a nutshell it goes like this, you have a credit rating of 450 but I, the bank, give you a home loan with no money down. Now during most times there’s no way I could get a loan like that. But since property value is rising and since the bank can sell my mortgage off to other people(hedge funds, etc) in a batch with other people’s mortgage they lessen their risk so it’s fine that they give me the loan. It’s not their problem anymore. After doing this over and over someone is going to pay the piper and now that someone is the American taxpayer.
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September 24th, 2008 at 9:26 pm
I just watched the president do this emergency speech to try explain this crisis….I have to say….I can understand what everyone is concerned about with this bailout…executive salary caps etc…but I just dont understand how we came to this urgent disaster situation?
And I heard someone on ny1 saying…dont ignore the fact that its troublesome for the govrnment to be running these big financial companies post-bailout.
ugh I dont like this feeling
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September 24th, 2008 at 10:17 pm
An economy always has bubbles. When a bubble bust investors don’t go away they just invest in something different(new sectors, overseas, etc). When the tech bubble busted all of that money went into the housing market because it was an emerging market.
It was an emerging market because Clinton had passed laws a couple years earlier to try to get more lower income people into homes. Also at the same time Greenspan was lowering interest rates to help out the market during the tech bubble. All of that combined made housing the hot go to market which made housing prices rise to astronomical rates. This created another bubble. But a bubble in housing is different than a bubble in tech.
Tech is important but the biggest investment the average American makes is their home. So when they can’t afford their homes anymore that’s a huge portion of their net worth wiped out. So with people losing their net worth and Wall St Voodoo economics that I described before coming back to bite them in the ass we have an impending economic crisis.
I didn’t even include the other factors including the lessen power of the dollar, our depth to China and the Middle East, and overseas investors scared to pump anymore equity into our country. These are all important side factors to what’s going on as well.
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September 24th, 2008 at 11:50 pm
but I just dont understand how we came to this urgent disaster situation?
Because there is no urgent disaster.
I remember when I was a kid, 4 or 5yo, and my grandmother would tell me things like “you betta come inside before the boogie-man gets you!” Worked like a fuckin charm too. When you scare someone, you have control over them. Scare a nation, you control a nation. What better way to scare people than by telling them we’re running low on resources? Oh I know! Terrorist!! The Economic crisis is the new terrorism. Its all fear propaganda.
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September 25th, 2008 at 1:11 pm
@Baby Bobby, This is what happens when you convince yourself everything is fine and so long as your fearless and positive everything will be O.K.
Nobody said the Government was running out of resources, The Government is mis-using public funds to fix problems that they should have identified and rectified by imposing laws and restrictions.
There are bad business practices that have been allowed to continue in the private sector, which has led to the current economic state. It was the Governments job to make sure that such things do not happen DJBigDaddy identified some of those elements.
You had it all fucked up. We are saying the Federal Reserve Money is being misused, not running out. The Government is supposed to take care of education, national security, pensions, healthcare, disaster funds, infrastructure and the environment.
The scare tactics your reffering to were used to sell the idea of war to the general public, but it cost the tax payer billions. This is George W Bush’s doing and we are saying enough!No more dumb sh!t.
We need new ideas and business practices to prevent the Private sector from suffering, we do not want the state to run all our businesses, but that is where we are headed to where the nation becomes a communist state and we all know wsup with Government run organizations.
The economic crisis is not about fear its about math and common sense. We are saying the annual budget sucks! We are saying the business sector needs new policies and flexibilities that adapt well to change. When Katrina hit Bush should have handled it better and the funds should have been used to build N.O and give the people their lives back, thats what they pay taxes for but even now years on shit is still fucked up! We are angry not scared.
Here is Obama’s Blueprint for Changing the Economy.
http://www.youtube.com/watch?v=YM6zILb_FUU
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September 25th, 2008 at 1:27 pm
Plus that is why we the people are saying instead of the FBI focusing their attention on petty criminals, they need to get on their job launch a broad inquiry across the financial sector.
Investigators are should examin possible fraud by mortgage giants Fannie Mae and Freddie Mac, the failed bank Lehman Brothers and insurer AIG.
I want to know which companies systematically misled investors about the financial strength of their institutions.(ENRON)
Coz they are asking for some of the $700 Billion dollars and I want to know why?
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September 25th, 2008 at 7:10 pm
You know he’s right we need a nerd
In 2000 Gore was mocked because he said he created the blueprint we know as the internet
(he did)
He was mocked and called a egg head specualtor when he talked about global warming and climate change (he was right)
2004 John Kerry was attacked for being an elitist who went to Yale an got good grades (so did Bush C student)
It’s amazing how the middle of the country wanted a president who they could have a beer with and talk sports with
(dumb it down)
Now we have Palin mocking Obama accusing him an elitism
then in the same breath taking digs, calling him community organizer (bitch) these mixed messages confuse thinking people who happen to live by the code of reason
It’s like being smart is not cool!!!
It’s like highschool dumbing yourself down enough so more people will hang with you
(WTF)
the critisisms I hear Obama get are the same I heard for kerry
He’s snobbish, boughee, arrogant, smug, upity…………………..
ok maybe not upity (fucking racist)
The country needs to stop with this, I need to relate with my president shit!
he or she has to be my every man or women shit
YOU DO NOT HAVE ANYTHING IN COMMON WITH A PRESIDENT !!!
WHY?
BECAUSE HE’S FUCKING PRESIDENT !!
i figured if i cursed and said some ignorant shit an kept it simple the slow ones would pick it up
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September 25th, 2008 at 7:14 pm
@kevgnyc
please stand up right you knuckle dragging closet homosexual
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September 25th, 2008 at 7:30 pm
I’m reading the posts about the econimic crisis and how it affects you and me
yes that is the point of the video
heres basically who it effects
If your honest with yourself then you will truly understand…….
If you are poor brush your shoulder off it don’t mean shit cause ain’t approing your loans anyway and your fica score is not a topic of conversation
Wroking poor same deal
working class same deal
Middle class (sucks to be you)
no more vacations tighten your strings
your gonna have issues acquring loans for cars houses (sucks i know)
If you want to pursue a new business are start one (you can’t)
Upper middle class (Sucks to be you)
same as the middle class but you can still go on vacation and catch a game or 2
I know your like ok thats cool (WHAT ABOUT YOUR KIDS )
yes sucks to be you
Rich people
you now are upper middle class
Wealthy people
you may have to try to get rid of a few of your homes
you will maintain but you finacial growth will no longer be on your plate
BILL GATES OPRAH (SAFE!)
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September 25th, 2008 at 7:31 pm
Well Dopeboy my nigga when McCain is doing wild shit like suspending his campaign because of the “crisis” and then dropping statments saying we’ll be in a Great Depression by Monday if he’s doesn’t immediately fly to Washington to rectify the situation. Depression by Monday??? You can’t see he’s trying to insight nation wide panic?
“The scare tactics your reffering to were used to sell the idea of war to the general public”
Yeah that, and also The Panic in 1907- J.P. Morgan published rumors that a big time bang was going bankrupt and he knew that would cause mass hysteria which led the public to be in FEAR of losing their doposits, immediately began mass withdrawls. Consequently, the banks were forced to call in their loans, sell their properties which the banks got bought out and became privatised and this great nation has been controlled under a system of credit ever since. It all started with the American public being in a state of fear by feeding into false publications which led to a panic.
Please believe they’re tyrna pull that same bullshit again but God bless those people in 1907 but todays people aren’t so gullable. Shit’s changed shince 1907.
I agree with everything you mentioned about todays economic structure and you seem well versed on the details. Although sometimes it takes a person to take a step back in order to see the big picture of what’s really going on in this world.
You mentioned that the FBI should stop focusing on petty criminals but when the Feds are working for an Elite group of individuals as oppose to working for the American people you’ll continue to see them crackin on Hip Hop cats as oppose to real offenders like Wall Street crooks and what not.
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September 26th, 2008 at 2:10 pm
@Baby Bobby, Like I said I acknowledge the fact that scare tactics are used to get results quicker because people tend to panic and do not use rational thinking during adversity but this time round thats not the case.
Pick up a newspaper, flick on the T.V stocks are plummeting, businesses are going into foreclosure, these are no longer warnings but reality. The economy will suffer if these companies are bailed out because the dollar will lose some of it’s value.
The math is every American will be charged an extra $2333.33 through taxes. Whether you believe it or not, this recession is going to cost you.
Miss Info mentioned the 225 billion dollars in bad loans the Government bought. They sold them for 140 billion. These were bad debts that businesses incur. At the end of the day a bad debt is money that the business can not recover due to death of the debtor, illness e.t.c. so the $85 billion dollar loss is one we can live with, but $700 Billion changes things toatally, it’s too much plus its not even enough.
Theoritacally Insurers are supposed to bail the customer out if they purchased a payment protection plan, but insurers ain’t coughin up the money due to loop holes in the system. This has to be changed. AIG are saying they have no money, what about the monthly premiums that they’ve been collecting over the years? Where did that money go to? Fraudulent calims? Doubt that.
It’s daylight robbery, plain and simple.
The business owners pay taxes just like everybody else. They are entitled to some of the Federal Reserve Money but not for this, Hurricane Katrina Disaster type scenarios, yes give businesses grants, American’s won’t mind paying for that.
We can’t keep bailing them out because they are abusing the system, if this recession was calculated which we all know it was, certain people belong behind bars.
The FSA, IRS should also be questioned, are they collecting correct information or doctored information?
I don’t even waste my time with McCaine, this man is not serious at all. Just look at him. He gets upset when you ask him to explain his policies, he contradicts himself constantly. Obama is trying to create stability and opportunities for Americans and they called him a charity organizer and people actually cheered, Sarah Pallin unwhittingly called the American people charity cases? How are they still even running for office? Expect the same tactics from the McCaine administration because it is still the Bush Administration. McCaine doesn’t even have the backing of the Republicans on this bail-out that him and Bush are trying to pass.
Flick on the news banks are shutting down, it’s no longer a scare tactic. There’s job cuts across the globe because of this.
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September 26th, 2008 at 8:26 pm
“Pick up a newspaper, flick on the T.V…”
“Flick on the news…”
The Panic in 1907 stemmed from articles being printed in The New Yorker.
When you have a small group of individuals who own ALL the publications and television networks, they spew these “facts” in order to scare/brainwash people into thinking there’s a crisis on its way.
If you think that newspapers and news channels are fair and balance and are about giving people honest information they can use, then you must think this is still the year 1865 because that probably was the last time that the news was real.
I challenge anybody to think about everytime they watched the 10 o’clock news and recall what the topics were. Ex: 3 girls were raped comming home from school… an old lady was robbed outside her home… 2 kids got shot standing on there porch… Who wants to hear about that kinda shit before bedtime, and wake up just to see it again bright and early on the 6am news before you go to work/school???
Trust me on this one bro, they want us to all live in FEAR so they can pass bullshit laws.
Example: Patriot Act; A bullshit bill/law was passed because people were in fear of terrorism at the time so we let are Gov dupe us into thinking this law/bill was gonna help us out. When we actually ended up creating a law/bill that took away are own freedom and liberties. Which is why now all are phones are tapped. Anybody on the street can get snatch by cops beaten up, tortured, and thrown in a cell without anybody telling or giving him anything! No lawyer, no phone call, nothing. All the dirty cop has to do is fill out there paper work saying you are a suspected terrorist. Well whats a terrorist? Someone that causes terror right? Well if a bumb steals from you, and you find him and beat his ass (which I don’t condone) you can be labeled a terrorist, and it’s all legal because of the Pat Act.
Now the question is who really knocked down the towers??? Was it Muslims? Maybe. Was it Bin Ladens people? Probably. Answer me this though, how the fuck that 2 buildings implode the exact same way demolition buildings implode??? Could it have been those planes were just a diversion? So people wouldnt know that those towers were laced with Dynomite?
This is some real shit that’s going on in this country, and I suggest every get rid of any fear you have in you, live peacefully and happily and see how you create your own protection through your own inner peace. Peace
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September 28th, 2008 at 10:31 am
“1865 because that probably was the last time that the news was real.???”"” I let that slide because you said “probably”.
I wasn’t born in 1865 when McCain was a teeneager, therefore don’t expect me to base my facts from that time period. I mean in 1865 there was racial bias, social class bias e.t.c. True and fair balance my foot.
You mentioned an article in the New Yorker, these days how many forms of media are available. Is MissInfo.tv part of your conspiracy theory? I’m I supposed to believe that news was fair and balanced when reporters jotted down quotes in their notebooks and then published them with no references. I prefer my time period where LIVE FEEDS from the source of information are available and reference=ing on the sources quoted.
If your trying to put forward the argument that the speed and quality of news has regressed since 1865 with the constant changes and development in technology, you’ve lost me completely.
You want to argue about 9/11 Bin Laden has been blamed but not convicted. The case is still open therefore there is no verdict on the whole crime. Some people have been arrested and convicted of the crimes they committed based on evidence. Anyway a crime was committed and the people responsible have not yet been brought to justice regardless of whoever you think is to blame.
Your advice is “This is some real shit that’s going on in this country, and I suggest every get rid of any fear you have in you, live peacefully and happily and see how you create your own protection through your own inner peace. Peace.”
How the hell am I supposed to live in peace when there are crooks in office fucking with my money, robbing me through taxes, missusing my money by helping themselves to federal reserve and going into war based on misinformation, passing fucked up bills like you said? What, by sitting on my backside doing nothing and believing it’s all a nightmare and one day i’ll wake up and everything wil be O.K when everything around me stinks. Or by being ignorant to facts and quoting books and authors opinions from the stone age who were probably biased themselves due to ignorance? I’ll pass!
Your saying they water down news, the last time I checked “Controversy sells” the more horrific shocking the more ratings.
Aight fuck the news, are we living in communities where, we are getting the best possible healthcare, have a reliable education system, live in safe neighborhoods, have a clean and safe environment with no pollution, a reliable transportation system no traffic, Best possible housing for everyone e.t.c.? Are their job cuts yes, are businesses closing down, yes are for sale signs being posted up everywhere and staying like that for months and years yes? Can I walk into my bank and request any large amount of money and get it straight away without having to book it, Nah, Can i use cards in store and receive real time financial account of my transaction, no.
Is this economic crisis based on fear, for the last time NO! Your using your information to back up the wrong argument.
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September 28th, 2008 at 10:47 am
Oh yeah the “taped convo” issue, I mean, I look at my phone bill and it has detailed information down to the number I dialed and how long the conversation took place.
I’t doesn’t take a rocket scientist to figure out that the my communication activities are being recorded, which subject to the terms and conditions I entered to by purchasing the phone. T-Mobile is a service provider and conversations are relayed via their network, I mean DUHH!! The Government just let us know they have access to that Info, which they already had access to anyway by hacking, it’s now just legal to do so.
You need to get back to the current times and stop living in the past.
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September 28th, 2008 at 9:49 pm
“You need to get back to the current times and stop living in the past.”
You have to understand what went wrong in the past, so that particular part of history doesn’t repeat itself
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September 29th, 2008 at 12:45 pm
What I’ve learned from studying my History is when a great crisis comes over the world, there always comes out some unknown with a formula for dissolving that crisis. Like Abraham Lincoln for instance, in the time of need when this country was about to be divided from internal strife; by George Washington preceedingly; and by Frank Roosevelt also, at the time when the people where stampeeded with fear, and they were standing in crazy lines to draw their money out of the bank.
Off topic:
Once you realize the proper use of your God given thoughts, you open the gates to a wonderful wonderful world.
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