The Big Lie (German: Große Lüge) is a propaganda technique. The expression was coined by Adolf Hitler, when he dictated his 1925 book Mein Kampf, for a lie so “colossal” that no one would believe that someone “could have the impudence to distort the truth so infamously.” Hitler believed the technique was used by Jews to unfairly blame Germany’s loss in World War I on German Army officer Erich Ludendorff.
For years now we have been told the biggest lie of all. It has become a mindless meme regurgitated any time racist and bigoted people want to justify voting for a bunch of sheet wearing knuckle dragging, women hating Nazi pigs.
“Oh.. I don’t believe in their social policies but they are better with the economy.”
WTF? What kind of drugs are you taking? The Republicans destroy the economy every time they run it according to their principles. They act like spoiled rich brats buying all sorts of toys and lining their pockets with borrowed money.
Capitalism equals theft. Capitalists get rich by the sweat of the workers. they do not share the profits in an equitable manner with the workers.
Without seriously tight regulation and policing Wall Street might as well be a criminal syndicate.
Why in the world would anyone in their right mind think the government should be run like a business unless the government is running businesses? But the privatization forces do not want the government running things like public utilities or the health care system because they know if they had to compete against civil servants then they wouldn’t be able to make their CEOs and others at the top fabulously wealthy.
The Party of Hoover, Reagan and Bushes are Economy Destroyers, who hate the idea of America as a Democratic Republic with liberty, justice and equality for all.
The Republicans and Conservatives around the world, who are from the same ideological mindset have brought us to the Eve of Destruction.
Time to say enough…
From The Guardian UK: http://www.guardian.co.uk/business/2011/aug/04/world-stock-markets-turmoil-fall
World stock markets in turmoil
Almost £50bn wiped off leading British shares and huge sell-off on Wall Street amid economic fears
Jill Treanor and Nick Fletcherguardian.co.uk,
Thursday 4 August 2011
Almost £50bn was wiped off the value of Britain’s 100 biggest companies on a day of global stock market mayhem triggered by a deepening of the eurozone crisis and fears for the US economy.
After a day of massive stock market falls in Europe and the US of a kind not seen since the depths of the last economic downturn, traders said the atmosphere was reminiscent of the banking crisis of October 2008. Wall Street endured one of its worst days since the height of that crisis, with the Dow Jones Industrial Index closing more than 500 points or 4.3% lower at 11,383 in heavy volume, as it resumed a two-week streak interrupted only briefly on Wednesday. It was the biggest single-day loss since 2008.
“For many traders this week has felt like the start of the banking crisis in 2008, which would go some way to explaining the panic selling we have seen today,” said Will Hedden, sales trader at IG Index.
The fall on Wall Street is expected to cause further falls in the FTSE 100 index of leading shares on Friday, after the index fell to its lowest close, 5393.14, since September 2010 yesterday. The futures market was predicting a further 100 point fall.
Rumours were swirling around the City that hedge funds were being forced to sell assets such as gold in order to cover deepening losses on other investments. This led to a surprise 1% drop in gold, which in recent weeks had hit record highs of more than £1,000 an ounce as a safe haven bet in the eurozone and US debt crisis. Brent crude fell 5% to $107 a barrel amid signs of slowdown in the west’s economies.
Continue reading at: http://www.guardian.co.uk/business/2011/aug/04/world-stock-markets-turmoil-fall
From The New York Times: http://www.nytimes.com/2011/08/05/business/markets.html?_r=1&hp
Stocks Plunge on Fears of Global Turmoil
By GRAHAM BOWLEY
Published: August 4, 2011
What began as a weak day in the stock markets ended in the worst rout in more than two years, as investors dumped stocks amid anxiety that both Europe and the United States were failing to fix deepening economic problems.
With a steep decline of around 5 percent in the United States on Thursday, stocks have now fallen nearly 11 percent in two weeks. Markets have been plunging as investors sought safer havens for their money — including Treasury bonds, which some had been avoiding during the debate over extending the nation’s debt ceiling.
Sparking the drop was an unsuccessful effort by the European Central Bank to reassure the markets, which instead ended up spooking investors. The bank intervened with a show of support to buy bonds of some smaller countries, but not Italy and Spain, whose mounting troubles have come into the spotlight. This was taken as a sign that the recent rescue packages by Europe could soon be overwhelmed by the huge debt burdens in those two countries.
Investors were further unnerved by a candid remark by José Manuel Barroso, the European Commission president, who seemed to confirm fears about the sense of political paralysis. Rather than play down the problems, as European officials have done since the debt crisis began last year, he said, “Markets remain to be convinced that we are taking the appropriate steps to resolve the crisis.”
With investors in the United States already focusing anew on fragile economic growth and high unemployment, waves of selling of stocks began in Europe and continued throughout the day in the United States. Analysts said the market still might have further to fall, as investors reassess the dimming economic prospects. In the short run, attention will be focused on critical unemployment numbers for July to be released on Friday morning. And some in the markets are already questioning whether the Federal Reserve has done enough to mend the economy and whether it could soon take further steps to stimulate growth.
Continue reading at: http://www.nytimes.com/2011/08/05/business/markets.html?_r=1&hp