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June 12, 2009

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Excellent post, Mr. Talton.

And I would compare the Obama and Clinton administrations, certainly.

Reforms may sometimes "begin on the streets" in some sense but full-fledged revolutions (as opposed to rioting) rarely or never do. In any case, there is very little political consciousness and still less in the way of organized movements outside of the mainstream; and most of what does exist is tilted toward the right-wing, prepared by years of talk-radio and other propaganda.

There is, at present, no revolutionary vanguard outside the status quo; however, one might conceivably arise within the status quo, but only to better serve the needs of the oligarchy during a time of crisis.

Jon did you read this article in the NYT?

http://www.nytimes.com/2009/06/09/business/09hedge.html

It defies imagination: A 40-year-old billionaire who doesn't make anything. Callouses? What are they? Something concrete and substantial? What is it?

Griffin is a billionaire whose contribution to society is pure paper hocus-pocus. More of the same financial tomfoolery. The casino culture bubbling away on pure fumes...

Here is the "money" quote:

"One of the most striking turnarounds has been from the Citadel Investment Group, the Chicago-based firm run by the 40-year-old billionaire Kenneth C. Griffin. The firm’s flagship Kensington Global Strategies Fund was up 20.37 percent in the first five months of this year after plummeting 54.49 percent last year, according to performance numbers sent to investors.

Mr. Griffin is known for his talents in convertible arbitrage trading, which involves buying securities that convert into a company’s common stock while shorting, or betting against, the shares of the same company. That strategy, which brought Mr. Griffin’s investors immense financial pain last year, has gained 19.48 percent this year, according to the Credit Suisse/Tremont Hedge Fund Index."

~end quote~

Convertible arbitrage trading? What poppycock. If there was a god he would lift Mr. Griffin from his station in life and put him to work shoveling manure in a barn...

Hello.
Broken record here, saying again that if things aren't changing in meaningful ways, its because things aren't bad enough yet.

Tom Golisano, another New York billionaire, had initially supported the Democrats, but reportedly became angry after they announced plans to raise taxes on the wealthy. So he bought the state Senate.

http://www.nytimes.com/2009/06/10/nyregion/10albany.html

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