Busted: Bankers and The Global Economy

May 26, 2009

Corporate Control through the Digital Economy

The digital economy has become synonymous with the large amount of global data, often blindly called information, that the world creates through life on the internet. Those corporate rustlers in the data storage business are doing very well indeed even though the immediate rewards of this investment remain mostly in the future while the world endures the continuing fallout from a global financial meltdown.

end of advertisingMost of this corporate benefit has been on the backs of corporate slavery in the backrooms and factories of the third-world as the increasing strength of a global corporate fascism grows and concretes influence in the world. Jobs in America and any economic powerhouse have been sold to the lowest bidder, typically overseas by corporate junkets that claim to have your best interests at heart. They have sold you their truth that life is simply about consumption of goods. Live for the moment. Just do it. Obey your thirst. Corporate fascists are there to rake in the profits while that opportunity exists in the hope of building a global society that they can further rule, influence and plunder.

Right after 9/11, George Bush did not instruct Americans to pray or to unite in common purpose in religious temples. Instead, President Bush encouraged America to go out and shop in temples of commerce. America must not allow terrorists to divert the economy that defines ‘our’ society and power. Through that very economic engine and toil, corrupt and cynical corporate executives of financial institutions have plunged the economies of virtually every nation into the tailspin of recession and employment stagnation. This action of corporate fascists has not been truly recognized and they remain in control as never before as the controllers of currency and commerce. They remain central to ongoing efforts to revive the decimated global economy.

Fascist corporatism now defines the world. America and much of the modern world has a fear of any lack of consumption like the global economy is enduring now. We must be convinced that we must buy now and pay later for the very system in place depends on this reality. Even worse, America has come to realize that the rest of the world has been funding this endeavor in recent years as the fever of fascist consumerism broke with the economic overheating. Much of the world and notably most Americans can no longer continue to eat at the trough of ardent consumerism that has been propelled into superstardom over the last several decades. Credit has been maxed out and personal income commandeered by corporate and government fascists as they stoke the temporary delusions of their bottom line.

The human race has turned the space race into the information age of science and technology, an endless storage bin of computer space into which we cast our hopes, dreams and fantasies, even our futures and of course, the corporate bottom line…for better or worse. We are addicted and will be manipulated to meet the needs of the current powers in place or those that reside in the future.

human lobsterIs there any other reason for the expansion of millions of terrabytes of digital power out there? Does home video really make that much money for corporate fascists? Hardly. Do personal blogs hold the purpose of the world? Unlikely. We are simply human lobsters in what will be a boiling pot given enough time. Humans are food for government control and corporate fascists. We haven’t realized the plans of the power structure in place just yet, even as the plans of those in influence continue to evolve and materialize. It is all about the power of psychology and what information global corporates can mine from your life to benefit themselves, their financial structure and to build their future. Google has only begun to mine data from your life. They may well know more about you than you do. Once that data is used to influence and manipulate, advertising and data mining achieve their pinnacle of success in the name of convenience and customer service.

The American miracle of the internet now holds the building blocks of a new global economy and global manipulation that has never been seen before. The ‘new fascists’ proclaim innovation in technology and processes with the idea of world domination for their own good. The rights of the individual mean nothing in the grand scheme. The small businessman must be crushed or controlled by higher powers. You are simply a means to their end: record profits and control of the market at any cost. The internet will be their social tool. The digital economy is an expansion of the human third-world flesh factory as billions of human lives continue to pour into a global mechanism of control and manipulation.

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September 10, 2008

Is U.S. Mortgage Banking a House of Cards?

U.S. Senator Richard Shelby testified that U.S. Treasury officials found Fannie Mae and Freddie Mac were “playing games with their accounting'” to meet reserve requirements. This virtually guaranteed that the federal government would seize control of the government-backed companies once a comprehensive plan was developed. “Once they got someone looking closely at Fannie and Freddie’s books, they realized there just wasn’t adequate capital there.”

Digital Economy has held that accounting games are very common within the banking and mortgage industry. Public proof of this facts regarding predatory loans, highly questionable and illegal actions across the board relating to mortgage loans and instruments. The nation has learned that bankers cannot be trusted and yet little has been done to persuade the industry to stay away from graft and corruption.

What is worse with Fannie and Freddie, nothing is being done to those that falsified information and documentation because those actions are “legal.” In fact, the federal government has changed nothing beyond eliminating the upper crust of management. They still intend to involve themselves in the dangerous business of selling mortgage bond securities without considering previous consequences that has brought the nation to its knees. The unprofessional and dishonest conduct is considered as business as usual.

Fannie Mae and Freddie Mac have been a house of cards for years. Corruption and mismanagement within the organizations has been overlooked and rubber stamped in the name of protecting the economy and reputations. FHFA Director James Lockhart had declared Fannie and Freddie as fit just before the U.S. Treasury hired Morgan Stanley. Morgan Stanley has decided that the accounting tricks were legal, but simply allowed the mortgage twins to overstate their reserves.

Richard Fisher of the Dallas Federal Reserve noted that the capital held by the government-backed institutions was “of poor quality.” Where is the national outrage? When are spineless accountants going to stand up for right instead of creating new ways to cheat the system? Who is responsible and accountable for the corporate abuse of taxpayer money and developing methods that resulted in the unraveling of the economy for the short-term profit of a system of investors and mortgage bankers? Not a soul except for you. You are the taxpayer. You are on the hook, enslaved by the greed, incompetence and spinelessness of the people within “the system.”

This writer came from this culture and because of the abuse and attitudes in the system, retired from it. Instead ivy leaguers and young boss-pleasers without regard for balanced or honest accounting simply follow the rules put out by “mysterious forces.” If 911, overzealous government surveillance and the price of fuel is a national security issue, surely this abuse trumps them all. The tragedy is that you don’t really care. ~ E. Manning

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