User Panel
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Posted: 3/28/2013 2:57:18 AM EST
[#1]
China and Russia have been doing that for over 6 months now.
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Posted: 3/28/2013 8:16:43 AM EST
[#2]
So do you think we are getting closer to the chip in your hand that the Zeitgeist and Bible believers say we are going to? I am getting nervous.
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Posted: 3/28/2013 9:11:47 AM EST
[#3]
Quoted: So do you think we are getting closer to the chip in your hand that the Zeitgeist and Bible believers say we are going to? I am getting nervous. If the masses Believe in Prophecies, then those 'visions' will eventually become OUR Reality.  Divide & Conquer  The questions to ask: What System are WE left with, after the coming Collapse? What role does OUR Constitution have in society? Does this Administration Plan on Defending it? Are the BRICS OUR 'chosen' Enemies?  My answers are not very optimistic, especially since I'm not considered an 'Oligarch'  eta What a modern day Depression looks like... GROWTH AT 0.4% |
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Posted: 3/28/2013 3:06:03 PM EST
[#4]
Quoted: Quoted: So do you think we are getting closer to the chip in your hand that the Zeitgeist and Bible believers say we are going to? I am getting nervous. If the masses Believe in Prophecies, then those 'visions' will eventually become OUR Reality. Divide & Conquer The questions to ask: What System are WE left with, after the coming Collapse? What role does OUR Constitution have in society? Does this Administration Plan on Defending it? Are the BRICS OUR 'chosen' Enemies? My answers are not very optimistic, especially since I'm not considered an 'Oligarch' eta What a modern day Depression looks like... GROWTH AT 0.4% What would that number have been, in the absence of government and Fed stimulus actions? Take out government deficit spending, and money supply increases that total in the trillions of dollars, and what would the GDP be? How large a negative number for GDP? What would U3, and U6 unemployment numbers look like if local, state, and federal governments had to stop deficit spending and at the same time printing trillions of dollars...ended? What does the real economy look like behind the magic of all this smoke and mirrors? We've all seen the Great and Powerful Wizard behind the green curtain. We know the nature of his "power" is nothing but illusion. How long will we play along? How long do children play along with the notion of Santa Claus because they fear they'll stop getting presents? That's were we are. That's the gnawing "trillions of dollars" question. This will end. The smoke will clear, and we will have to face the truth reflected in the mirror.
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Posted: 3/29/2013 7:12:17 AM EST
[#5]
Bill Frezza had an interesting take on the GDP growth numbers. "The whole thing is theater"
(Video is embedded about halfway down the page.) GDP: "Gross Distorted Product?" The economy expanded at a sluggish pace in Q4. Bill Frezza, Forbes, and CNBC's Rick Santelli discuss whether the economy is as bad as the numbers indicate. |
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Posted: 4/1/2013 11:11:57 AM EST
[#6]
Reagan Budget Guru Declares: We've Been Lied To, Robbed and Misled...
snip... By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct. And when market forces attempted to do so in 2008, Paulson et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued -- in full -- at all costs. Of course, history shows that our markets and economy would have been better off had the system been allowed to correct. Most of the "too big to fail" institutions would have survived or been broken into smaller, more resilient, entities. For those that would have failed, smaller, more responsible banks would have stepped up to replace them - as happens as part of the natural course of a free market system... I would have preferred the book title: 'Acts of Treason' |
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Posted: 4/1/2013 11:41:58 AM EST
[#7]
Good companion piece to go with GlockO's post.
State-Wrecked: The Corruption of Capitalism in America By DAVID A. STOCKMAN The Dow Jones and Standard & Poor’s 500 indexes reached record highs on Thursday, having completely erased the losses since the stock market’s last peak, in 2007. But instead of cheering, we should be very afraid. Over the last 13 years, the stock market has twice crashed and touched off a recession: American households lost $5 trillion in the 2000 dot-com bust and more than $7 trillion in the 2007 housing crash. Sooner or later — within a few years, I predict — this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode, too. Since the S.&P. 500 first reached its current level, in March 2000, the mad money printers at the Federal Reserve have expanded their balance sheet sixfold (to $3.2 trillion from $500 billion). Yet during that stretch, economic output has grown by an average of 1.7 percent a year (the slowest since the Civil War); real business investment has crawled forward at only 0.8 percent per year; and the payroll job count has crept up at a negligible 0.1 percent annually. Real median family income growth has dropped 8 percent, and the number of full-time middle class jobs, 6 percent. The real net worth of the “bottom” 90 percent has dropped by one-fourth. The number of food stamp and disability aid recipients has more than doubled, to 59 million, about one in five Americans. So the Main Street economy is failing while Washington is piling a soaring debt burden on our descendants, unable to rein in either the warfare state or the welfare state or raise the taxes needed to pay the nation’s bills. By default, the Fed has resorted to a radical, uncharted spree of money printing. But the flood of liquidity, instead of spurring banks to lend and corporations to spend, has stayed trapped in the canyons of Wall Street, where it is inflating yet another unsustainable bubble. When it bursts, there will be no new round of bailouts like the ones the banks got in 2008. Instead, America will descend into an era of zero-sum austerity and virulent political conflict, extinguishing even today’s feeble remnants of economic growth. More at the link |
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Posted: 4/1/2013 2:56:07 PM EST
[#8]
Breaking Ground: Stockton Bankruptcy Is Approved
The $900 million that Stockton owes to the California Public Employees' Retirement System to cover pension promises is its biggest debt. So far Stockton has kept up with pension payments while it has reneged on other debts, maintaining that it needs a strong pension plan to retain its pared-down workforce.  This will set an 'Unimaginable' Precedence  |
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Posted: 4/1/2013 3:19:18 PM EST
[#9]
I like both of the above articles. If you're not one of those that is already experiencing a financial SHTF, you have time to get ready, use it. |
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Posted: 4/1/2013 3:30:11 PM EST
[#10]
Quoted:
Breaking Ground: Stockton Bankruptcy Is Approved The $900 million that Stockton owes to the California Public Employees' Retirement System to cover pension promises is its biggest debt. So far Stockton has kept up with pension payments while it has reneged on other debts, maintaining that it needs a strong pension plan to retain its pared-down workforce.
This will set an 'Unimaginable' Precedence
About time. The most pathetic part is that the utterly corrupt, greedy, narcissistic bastards brought this on themselves. By 2009 Stockton had accumulated nearly $1 billion in debt on civic improvements, money owed to pay pension contributions, and the most generous health care benefit in the state—coverage for life for all retirees plus a dependent, no matter how long they had worked for the city.
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Posted: 4/1/2013 4:47:15 PM EST
[#11]
Quoted:
I like both of the above articles. If you're not one of those that is already experiencing a financial SHTF, you have time to get ready, use it. I would like to hear your thoughts on surviving the coming shit storm. Given your background you may hit some points I and others have overlooked. |
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Posted: 4/1/2013 4:52:30 PM EST
[#12]
Quoted:
Quoted:
I like both of the above articles. If you're not one of those that is already experiencing a financial SHTF, you have time to get ready, use it. I would like to hear your thoughts on surviving the coming shit storm. Given your background you may hit some points I and others have overlooked. |
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Posted: 4/1/2013 7:09:34 PM EST
[#13]
The government will take care of those who deserve it.
 
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Posted: 4/1/2013 7:28:52 PM EST
[#14]
Quoted:
The government will take care of those who deserve it.
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Posted: 4/1/2013 7:40:20 PM EST
[#15]
Quoted:
Quoted:
Quoted:
I like both of the above articles. If you're not one of those that is already experiencing a financial SHTF, you have time to get ready, use it. I would like to hear your thoughts on surviving the coming shit storm. Given your background you may hit some points I and others have overlooked. Posted Via AR15.Com Mobile |
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Posted: 4/1/2013 7:52:06 PM EST
[#16]
Quoted:
Quoted:
I like both of the above articles. If you're not one of those that is already experiencing a financial SHTF, you have time to get ready, use it. I would like to hear your thoughts on surviving the coming shit storm. Given your background you may hit some points I and others have overlooked. 
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Posted: 4/2/2013 3:20:18 AM EST
[#17]
Quoted:
Good companion piece to go with GlockO's post. ...snip... More at the link If this sounds like advice to get out of the markets and hide out in cash, it is.
Does cash mean something other than dollars? If not, then the article was a little confusing |
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Posted: 4/2/2013 6:43:07 AM EST
[#18]
Quoted:
Quoted:
Good companion piece to go with GlockO's post. ...snip... More at the link If this sounds like advice to get out of the markets and hide out in cash, it is.
Does cash mean something other than dollars? If not, then the article was a little confusing Well I personally think there's always something other than dollars: consumables. The question is, how long (and how much) of tangible goods can you realistically store? Once you have so many cans of beans, bags of rice and jugs of water... "cash" is the next best thing: you'll still take a bath in value, but you're liquid. Even with PMs - if you ignore the volatile markets - there will be a haircut of value if you're forced to use coins or bullion in leu of paper money. The argument would be "how much less of a haircut over fiat?" Depending on the circumstances, it could vary widely. In Weimar Germany, bullion would be best if you could hide it long enough to use it before confiscation. In present-day America, try walking into a coin dealer with a bag full of silver and see how much of a premium you get over fiat.
Most of the other areas (real estate, equities, etc) are way too volatile or low-turnover for my tasts. So, keep cash in the bank and wave goodbye to that 2-3% a year of inflationary losses? |
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Posted: 4/2/2013 7:26:21 AM EST
[#19]
Quoted:
Well at least the dollar is the world's reserve currency....at least for awhile longer. http://www.ibtimes.com/so-long-yankees-china-brazil-ditch-us-dollar-trade-deal-brics-summit-1153415#
So Long, Yankees! China And Brazil Ditch US Dollar In Trade Deal Before BRICS SummitChina and Brazil agreed to trade in each other’s currencies just hours ahead of the BRICS summit in South Africa. tick tick tick tick tick..... Over the weekend, Australia appears to have come to the same conclusion, with the Australian reporting that the land down under is set to say goodbye to the world's "reserve currency" in its trade dealings with the world's biggest marginal economic power, China, and will enable the direct convertibility of the Australian dollar into Chinese yuan, without US Dollar intermediation, in the process "slashing costs for thousands of business" and also confirming speculation that China is fully intent on, little by little, chipping away at the dollar's reserve currency status until one day it no longer is.
link And so it continues.... |
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Posted: 4/2/2013 8:34:34 AM EST
[#20]
Quoted:
Quoted:
Quoted:
I like both of the above articles. If you're not one of those that is already experiencing a financial SHTF, you have time to get ready, use it. I would like to hear your thoughts on surviving the coming shit storm. Given your background you may hit some points I and others have overlooked. Indeed! |
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Posted: 4/2/2013 8:57:15 AM EST
[#21]
Quoted: WE have to put these types of stories into perspective...All Prices are still set by OUR Dollar.Quoted: Well at least the dollar is the world's reserve currency....at least for awhile longer. http://www.ibtimes.com/so-long-yankees-china-brazil-ditch-us-dollar-trade-deal-brics-summit-1153415# So Long, Yankees! China And Brazil Ditch US Dollar In Trade Deal Before BRICS SummitChina and Brazil agreed to trade in each other’s currencies just hours ahead of the BRICS summit in South Africa. tick tick tick tick tick..... Over the weekend, Australia appears to have come to the same conclusion, with the Australian reporting that the land down under is set to say goodbye to the world's "reserve currency" in its trade dealings with the world's biggest marginal economic power, China, and will enable the direct convertibility of the Australian dollar into Chinese yuan, without US Dollar intermediation, in the process "slashing costs for thousands of business" and also confirming speculation that China is fully intent on, little by little, chipping away at the dollar's reserve currency status until one day it no longer is. link And so it continues.... China is still a Non-Transparent Communist Nation, and not OUR Ally At least the World knows what WE are doing, as crazy as it seems. Unfortunately, WE keep falling for the 1% complaining about the 1%, leaving the 99% broke and confused; Divide & Conquer  When the collapse occurs, the Dollar will devalue; A $40K car today will cost $60K, Free-Market Capitalists will find a way to create an affordable Compact. Instead of having a Flat Screen in every room, WE will share one. WE have been through this all before; Look up the Historic Prices of Milk; Home Prices; Gas. The Problem: The Political Pimps are Laundering Money, through Fraud, at OUR Expense. The Fear: When the Masses realize they were Lied to; have a Social Security Check that buys Nothing; Can't afford Healthcare/Prescriptions, How will they react? It won't lead to a Limited, Small Government  Cash will be King, until WE lose a War, and the Winners start writing the new History Books. Until that occurs, keep working hard, stop 'whining about life' and make the Debate about how the Pimps are committing Economic Treason = A Continuance of OUR American Revolution, technically speaking  Winners always Win! Winning hurts, so WE need to appreciate the coming 'Pain', and never forget it.  |
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Posted: 4/2/2013 12:55:29 PM EST
[#22]
Just spent two hours with our accountant doing our taxes. He's normally a fairly optimistic guy. He flat out told me that the livestock industry in our area is doomed. He says that all of the industries associated with agriculture are facing the perfect storm. High land prices, low interest rates, a severe drought continuing here, but easing in the rest of the crop areas in the country, a gov't that can't afford the farm subsidies and a population that is fed up with them and the ethanol industry.
He wasn't rosy on anything else either, but this is the dominant industry in our area so he put it in that perspective. He claims the crisis in the 80s will be remembered fondly when the coming crisis is considered. 
Just a perspective from flyover country. |
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Posted: 4/2/2013 1:16:09 PM EST
[#23]
Quoted:
Just spent two hours with our accountant doing our taxes. He's normally a fairly optimistic guy. He flat out told me that the livestock industry in our area is doomed. He says that all of the industries associated with agriculture are facing the perfect storm. High land prices, low interest rates, a severe drought continuing here, but easing in the rest of the crop areas in the country, a gov't that can't afford the farm subsidies and a population that is fed up with them and the ethanol industry. He wasn't rosy on anything else either, but this is the dominant industry in our area so he put it in that perspective. He claims the crisis in the 80s will be remembered fondly when the coming crisis is considered.
Just a perspective from flyover country. Sh*t. |
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Posted: 4/2/2013 6:48:01 PM EST
[#24]
Quoted:
Just spent two hours with our accountant doing our taxes. He's normally a fairly optimistic guy. He flat out told me that the livestock industry in our area is doomed. He says that all of the industries associated with agriculture are facing the perfect storm. High land prices, low interest rates, a severe drought continuing here, but easing in the rest of the crop areas in the country, a gov't that can't afford the farm subsidies and a population that is fed up with them and the ethanol industry. He wasn't rosy on anything else either, but this is the dominant industry in our area so he put it in that perspective. He claims the crisis in the 80s will be remembered fondly when the coming crisis is considered.
Just a perspective from flyover country. 
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Posted: 4/2/2013 10:05:33 PM EST
[#25]
Quoted:
Quoted:
Just spent two hours with our accountant doing our taxes. He's normally a fairly optimistic guy. He flat out told me that the livestock industry in our area is doomed. He says that all of the industries associated with agriculture are facing the perfect storm. High land prices, low interest rates, a severe drought continuing here, but easing in the rest of the crop areas in the country, a gov't that can't afford the farm subsidies and a population that is fed up with them and the ethanol industry. He wasn't rosy on anything else either, but this is the dominant industry in our area so he put it in that perspective. He claims the crisis in the 80s will be remembered fondly when the coming crisis is considered.
Just a perspective from flyover country.
Nebraska banker friend's response to Stutz' post ... (friend didn't notice Stutz is NE) ... Mark, we are facing a similar challenge here in Nebraska. If it doesn't rain cattle producers won't have pasture so they will have to feed, but if they can't afford to buy feed they may have to sell cattle. Another problem can then arise. If they sell the herd down the cost to rebuild the herd later will be very expensive. Damned if you do and damned if you don't. |
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Posted: 4/2/2013 10:10:38 PM EST
[#26]
Quoted:
Quoted:
Quoted:
Just spent two hours with our accountant doing our taxes. He's normally a fairly optimistic guy. He flat out told me that the livestock industry in our area is doomed. He says that all of the industries associated with agriculture are facing the perfect storm. High land prices, low interest rates, a severe drought continuing here, but easing in the rest of the crop areas in the country, a gov't that can't afford the farm subsidies and a population that is fed up with them and the ethanol industry. He wasn't rosy on anything else either, but this is the dominant industry in our area so he put it in that perspective. He claims the crisis in the 80s will be remembered fondly when the coming crisis is considered.
Just a perspective from flyover country.
Nebraska banker friend's response to Stutz' post ... (friend didn't notice Stutz is NE) ... Mark, we are facing a similar challenge here in Nebraska. If it doesn't rain cattle producers won't have pasture so they will have to feed, but if they can't afford to buy feed they may have to sell cattle. Another problem can then arise. If they sell the herd down the cost to rebuild the herd later will be very expensive. Damned if you do and damned if you don't. Where's you banker friend from? We're effectively cutting our cattle operation by 60%. We're expanding into non-agricultural enterprises. We're really focusing on the vineyard and wine right now. I'm just about 40 and it has been pretty hard to go from the "cowboy" mentality to what I'm at now. I spent a long time doing nothing but cowboy work, those days are over. We run a business here and it's just a math problem. We're done with the lifestyle businesses. Those fuckers are expensive and generally lead to working for someone else.
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Posted: 4/2/2013 10:19:22 PM EST
[#27]
Quoted:
<snip> Where's you banker friend from? We're effectively cutting our cattle operation by 60%. We're expanding into non-agricultural enterprises. We're really focusing on the vineyard and wine right now. I'm just about 40 and it has been pretty hard to go from the "cowboy" mentality to what I'm at now. I spent a long time doing nothing but cowboy work, those days are over. We run a business here and it's just a math problem. We're done with the lifestyle businesses. Those fuckers are expensive and generally lead to working for someone else. North Platte ... |
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Posted: 4/2/2013 11:15:05 PM EST
[#28]
Quoted:
Quoted:
<snip> Where's you banker friend from? We're effectively cutting our cattle operation by 60%. We're expanding into non-agricultural enterprises. We're really focusing on the vineyard and wine right now. I'm just about 40 and it has been pretty hard to go from the "cowboy" mentality to what I'm at now. I spent a long time doing nothing but cowboy work, those days are over. We run a business here and it's just a math problem. We're done with the lifestyle businesses. Those fuckers are expensive and generally lead to working for someone else. North Platte ... Nope, don't know him. North Platte is burning up though. I've got friends around there and they fought range fires all of last summer and just fought another one two weeks ago. We don't normally deal with range fires during the wet season.  People don't understand the scope of a fire in the prairies of the sandhills. There are thousands of acres that are remote and without houses or any people. We can burn a lot of acres without killing anyone, we just can't stop it when it gets to town.
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Posted: 4/2/2013 11:31:34 PM EST
[#29]
Quoted:
Quoted:
Quoted:
<snip> Where's you banker friend from? We're effectively cutting our cattle operation by 60%. We're expanding into non-agricultural enterprises. We're really focusing on the vineyard and wine right now. I'm just about 40 and it has been pretty hard to go from the "cowboy" mentality to what I'm at now. I spent a long time doing nothing but cowboy work, those days are over. We run a business here and it's just a math problem. We're done with the lifestyle businesses. Those fuckers are expensive and generally lead to working for someone else. North Platte ... Nope, don't know him. North Platte is burning up though. I've got friends around there and they fought range fires all of last summer and just fought another one two weeks ago. We don't normally deal with range fires during the wet season. People don't understand the scope of a fire in the prairies of the sandhills. There are thousands of acres that are remote and without houses or any people. We can burn a lot of acres without killing anyone, we just can't stop it when it gets to town.I've flown "through" the sandhills on a flight from Huron, ND to North Platte - fun flight.
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Posted: 4/3/2013 5:43:58 AM EST
[#30]
Quoted:
Quoted:
Quoted:
Just spent two hours with our accountant doing our taxes. He's normally a fairly optimistic guy. He flat out told me that the livestock industry in our area is doomed. He says that all of the industries associated with agriculture are facing the perfect storm. High land prices, low interest rates, a severe drought continuing here, but easing in the rest of the crop areas in the country, a gov't that can't afford the farm subsidies and a population that is fed up with them and the ethanol industry. He wasn't rosy on anything else either, but this is the dominant industry in our area so he put it in that perspective. He claims the crisis in the 80s will be remembered fondly when the coming crisis is considered.
Just a perspective from flyover country.
Nebraska banker friend's response to Stutz' post ... (friend didn't notice Stutz is NE) ... Mark, we are facing a similar challenge here in Nebraska. If it doesn't rain cattle producers won't have pasture so they will have to feed, but if they can't afford to buy feed they may have to sell cattle. Another problem can then arise. If they sell the herd down the cost to rebuild the herd later will be very expensive. Damned if you do and damned if you don't. Fuck.
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Posted: 4/3/2013 7:40:40 AM EST
[#31]
Damn. Sounds like a dust bowl coming just like in the 30's.
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Posted: 4/3/2013 7:56:22 AM EST
[#32]
This - will - not - end - well.
*"TOP-11 "ONLY IN AMERICA" OBSERVATIONS BY A CANADIAN* **** 1) Only in America could the rich people -who pay 86% of all income taxes - be accused of not paying their "fair share" by people who don't pay any income taxes at all. **** 2) Only in America could people claim that the government still discriminates against black Americans when they have a black President, a black Attorney General, and roughly 18% of the federal workforce is black while only 12% of the population is black 3) Only in America could they have had the two people most responsible for their tax code, Timothy Geithner, the head of the Treasury Department and Charles Rangel who once ran the Ways and Means Committee, BOTH turn out to be tax cheats who are in favor of higher taxes. 4) Only in America can they have terrorists kill people in the name of Allah and have the media primarily react by fretting that Muslims might be harmed by the backlash. 5) Only in America would they make people who want to legally become American citizens wait for years in their home countries and pay tens of thousands of dollars for the privilege while we discuss letting anyone who sneaks into the country illegally just 'magically' become American citizens. 6) Only in America could the people who believe in balancing the budget and sticking by the country's Constitution be thought of as "extremists." 7) Only in America could you need to present a driver's license to cash a check or buy alcohol, but not to vote. 8) Only in America could people demand the government investigate whether oil companies are gouging the public because the price of gas went up when the return on equity invested in a major U.S. oil company (Marathon Oil) is less than half of a company making tennis shoes (Nike). 9) Only in America could the government collect more tax dollars from the people than any nation in recorded history, still spend a Trillion dollars more than it has per year - for total spending of $7-Million PER MINUTE, and complain that it doesn't have nearly enough Money. 10) Only in America could politicians talk about the greed of the rich at a $35,000.00 a plate campaign fund-raising event. 11) Only in America can a man with no background, no qualifications and no experience ... and a complete failure at his job ... be reelected. |
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Posted: 4/3/2013 8:09:09 AM EST
[#33]
Quoted: This - will - not - end - well. *"TOP-11 "ONLY IN AMERICA" OBSERVATIONS BY A CANADIAN* ****snip... Nails It...Common Sense, not so Common eta POVERTY SPIKES TO 1960S LEVEL |
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Posted: 4/3/2013 8:21:19 AM EST
[#34]
Quoted:
Quoted:
This - will - not - end - well. *"TOP-11 "ONLY IN AMERICA" OBSERVATIONS BY A CANADIAN* **** 1) Only in America could the rich people -who pay 86% of all income taxes - be accused of not paying their "fair share" by people who don't pay any income taxes at all. **** 2) Only in America could people claim that the government still discriminates against black Americans when they have a black President, a black Attorney General, and roughly 18% of the federal workforce is black while only 12% of the population is black 3) Only in America could they have had the two people most responsible for their tax code, Timothy Geithner, the head of the Treasury Department and Charles Rangel who once ran the Ways and Means Committee, BOTH turn out to be tax cheats who are in favor of higher taxes. 4) Only in America can they have terrorists kill people in the name of Allah and have the media primarily react by fretting that Muslims might be harmed by the backlash. 5) Only in America would they make people who want to legally become American citizens wait for years in their home countries and pay tens of thousands of dollars for the privilege while we discuss letting anyone who sneaks into the country illegally just 'magically' become American citizens. 6) Only in America could the people who believe in balancing the budget and sticking by the country's Constitution be thought of as "extremists." 7) Only in America could you need to present a driver's license to cash a check or buy alcohol, but not to vote. 8) Only in America could people demand the government investigate whether oil companies are gouging the public because the price of gas went up when the return on equity invested in a major U.S. oil company (Marathon Oil) is less than half of a company making tennis shoes (Nike). 9) Only in America could the government collect more tax dollars from the people than any nation in recorded history, still spend a Trillion dollars more than it has per year - for total spending of $7-Million PER MINUTE, and complain that it doesn't have nearly enough Money. 10) Only in America could politicians talk about the greed of the rich at a $35,000.00 a plate campaign fund-raising event. 11) Only in America can a man with no background, no qualifications and no experience ... and a complete failure at his job ... be reelected. Nails It...Common Sense, not so Common
eta POVERTY SPIKES TO 1960S LEVEL America will always do the right thing, only after it has done everything else- W. Churchill |
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Posted: 4/3/2013 3:04:43 PM EST
[#35]
Quoted:
This - will - not - end - well. *"TOP-11 "ONLY IN AMERICA" OBSERVATIONS BY A CANADIAN* **** 1) Only in America could the rich people -who pay 86% of all income taxes - be accused of not paying their "fair share" by people who don't pay any income taxes at all. **** 2) Only in America could people claim that the government still discriminates against black Americans when they have a black President, a black Attorney General, and roughly 18% of the federal workforce is black while only 12% of the population is black 3) Only in America could they have had the two people most responsible for their tax code, Timothy Geithner, the head of the Treasury Department and Charles Rangel who once ran the Ways and Means Committee, BOTH turn out to be tax cheats who are in favor of higher taxes. 4) Only in America can they have terrorists kill people in the name of Allah and have the media primarily react by fretting that Muslims might be harmed by the backlash. 5) Only in America would they make people who want to legally become American citizens wait for years in their home countries and pay tens of thousands of dollars for the privilege while we discuss letting anyone who sneaks into the country illegally just 'magically' become American citizens. 6) Only in America could the people who believe in balancing the budget and sticking by the country's Constitution be thought of as "extremists." 7) Only in America could you need to present a driver's license to cash a check or buy alcohol, but not to vote. 8) Only in America could people demand the government investigate whether oil companies are gouging the public because the price of gas went up when the return on equity invested in a major U.S. oil company (Marathon Oil) is less than half of a company making tennis shoes (Nike). 9) Only in America could the government collect more tax dollars from the people than any nation in recorded history, still spend a Trillion dollars more than it has per year - for total spending of $7-Million PER MINUTE, and complain that it doesn't have nearly enough Money. 10) Only in America could politicians talk about the greed of the rich at a $35,000.00 a plate campaign fund-raising event. 11) Only in America can a man with no background, no qualifications and no experience ... and a complete failure at his job ... be reelected. How many hours in front of the flat screen, sitting in 're-educational' institutions, reading nonsense newspapers and magazines, redistributing other people's money, and watching idiot Hollywood propaganda movies... ---did it take for the Left to bring us to this point?
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Posted: 4/3/2013 3:05:50 PM EST
[#36]
That most of us will REDO again, today and tomorrow, resulting in the same.
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Posted: 4/3/2013 4:00:05 PM EST
[#37]
More good news.
Now they are talking openly about just writing off government debt, instantly and forever. Just like Zimbabwe does What could go wrong? http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9970294/Helicopter-QE-will-never-be-reversed.html Helicopter QE will never be reversed
Readers of the Daily Telegraph were right all along. Quantitative easing will never be reversed. It is not liquidity management as claimed so vehemently at the outset. It really is the same as printing money. Columbia Professor Michael Woodford, the world's most closely followed monetary theorist, says it is time to come clean and state openly that bond purchases are forever, and the sooner people understand this the better. "All this talk of exit strategies is deeply negative," he told a London Business School seminar on the merits of Helicopter money, or "overt monetary financing". He said the Bank of Japan made the mistake of reversing all its money creation from 2001 to 2006 once it thought the economy was safely out of the woods. But Japan crashed back into deeper deflation as soon the Lehman crisis hit. "If we are going to scare the horses, let's scare them properly. Let's go further and eliminate government debt on the bloated balance sheet of central banks," he said. This could done with a flick of the fingers. The debt would vanish. |
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Posted: 4/3/2013 4:13:54 PM EST
[#38]
Quoted:
More good news. Now they are talking openly about just writing off government debt, instantly and forever. Just like Zimbabwe does What could go wrong? http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9970294/Helicopter-QE-will-never-be-reversed.html Helicopter QE will never be reversed
Readers of the Daily Telegraph were right all along. Quantitative easing will never be reversed. It is not liquidity management as claimed so vehemently at the outset. It really is the same as printing money. Columbia Professor Michael Woodford, the world's most closely followed monetary theorist, says it is time to come clean and state openly that bond purchases are forever, and the sooner people understand this the better. "All this talk of exit strategies is deeply negative," he told a London Business School seminar on the merits of Helicopter money, or "overt monetary financing". He said the Bank of Japan made the mistake of reversing all its money creation from 2001 to 2006 once it thought the economy was safely out of the woods. But Japan crashed back into deeper deflation as soon the Lehman crisis hit. "If we are going to scare the horses, let's scare them properly. Let's go further and eliminate government debt on the bloated balance sheet of central banks," he said. This could done with a flick of the fingers. The debt would vanish. Tell me what this means. I assume it means that we're about to see inflation take off. |
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Posted: 4/3/2013 4:18:02 PM EST
[#39]
Quoted: More good news. Now they are talking openly about just writing off government debt, instantly and forever. Just like Zimbabwe does What could go wrong? http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9970294/Helicopter-QE-will-never-be-reversed.html Helicopter QE will never be reversed <snip> Let's go further and eliminate government debt on the bloated balance sheet of central banks," he said. This could done with a flick of the fingers. The debt would vanish. People need to get free, now. This puppy is going to blow. This is from the final scene of the movie Fight Club. For all of you that don't know the pop reference; in the movie Fight Club the protagonist planned to destroy the financial system to "reset" everyone's debt to zero. It was a nutty idea then, and it's a nutty idea now. In this final scene from that movie the protagonist, played by Edward Norton, is watching the buildings of certain financial companies blow-up, enjoy....  |
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Posted: 4/3/2013 4:31:39 PM EST
[#40]
Quoted:
Tell me what this means. I assume it means that we're about to see inflation take off. Like a rocket strapped to warp drive, linked to hyperdrive, dropping into a black hole of poverty. They are talking about the fact that they don't have the money to pay the bills, ever, everyone knows they don't, and they won't stop the reckless spending anyway. Pure worthless paper money printing in the denominations required to pretend to pay today's bills. This is what happened in the Wiemar Republic and Zimbabwe. |
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Posted: 4/3/2013 4:36:04 PM EST
[#41]
Quoted: Quoted: Tell me what this means. I assume it means that we're about to see inflation take off. Like a rocket strapped to warp drive, linked to hyperdrive, dropping into a black hole of poverty. They are talking about the fact that they don't have the money to pay the bills, ever, everyone knows they don't, and they won't stop the reckless spending anyway. Pure worthless paper money printing in the denominations required to pretend to pay today's bills. This is what happened in the Wiemar Republic and Zimbabwe. I like that, may I use it? |
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Posted: 4/3/2013 4:38:25 PM EST
[#42]
Absolutely
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Posted: 4/3/2013 4:42:11 PM EST
[#43]
Quoted:
More good news. Now they are talking openly about just writing off government debt, instantly and forever. Just like Zimbabwe does What could go wrong? http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9970294/Helicopter-QE-will-never-be-reversed.html Helicopter QE will never be reversed
Readers of the Daily Telegraph were right all along. Quantitative easing will never be reversed. It is not liquidity management as claimed so vehemently at the outset. It really is the same as printing money. Columbia Professor Michael Woodford, the world's most closely followed monetary theorist, says it is time to come clean and state openly that bond purchases are forever, and the sooner people understand this the better. "All this talk of exit strategies is deeply negative," he told a London Business School seminar on the merits of Helicopter money, or "overt monetary financing". He said the Bank of Japan made the mistake of reversing all its money creation from 2001 to 2006 once it thought the economy was safely out of the woods. But Japan crashed back into deeper deflation as soon the Lehman crisis hit. "If we are going to scare the horses, let's scare them properly. Let's go further and eliminate government debt on the bloated balance sheet of central banks," he said. This could done with a flick of the fingers. The debt would vanish. Not the first time I've heard this. They don't even have to announce anything to effectively implement it, there isn't any action they need to take. The likelihood that any of those bonds are ever paid just gradually, quietly declines to zero. Along the way, the Fed drives yields negative by paying too much and there's no reason for anyone to hold them and sucks them all up. |
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Posted: 4/3/2013 4:52:09 PM EST
[#44]
Quoted: Quoted: Not the first time I've heard this.More good news. <snip> http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9970294/Helicopter-QE-will-never-be-reversed.html Helicopter QE will never be reversed <snip> Let's go further and eliminate government debt on the bloated balance sheet of central banks," he said. This could done with a flick of the fingers. The debt would vanish. They don't even have to announce anything to effectively implement it, there isn't any action they need to take. The likelihood that any of those bonds are ever paid just gradually, quietly declines to zero. Along the way, the Fed drives yields negative by paying too much and there's no reason for anyone to hold them and sucks them all up. The Federal Reserve will simply continue to expand it's balance sheet sopping up all unbought treasury obligations during an auction. There will be no failed auction, as there should be. There won't be an actual default, they'll just create the money to pay off the United State's obligations. This is currently working, if ONLY because most of the money has been locked up in the canyons of Wall Street. But eventually it will spill over the banks (pun intended) and we will experience hyper-inflation, currency destruction, and financial collapse. Another Bitcoin anyone? |
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Posted: 4/3/2013 5:17:24 PM EST
[#45]
The fed is buying govt bonds.
There is no reason for the fed to ever present them back to the treasury. I said this over a year ago. The fed can sit on those mature bonds forever because the fed creates the money, it does not need to make a profit on "investments". It creates the money from nothing and never gets audited. It will never present the mature govt debt to the treasury for payment. It is the Black hole of US govt debt. |
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Posted: 4/3/2013 5:20:43 PM EST
[#46]
Quoted:
Quoted:
Quoted:
Not the first time I've heard this.
More good news. <snip> http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9970294/Helicopter-QE-will-never-be-reversed.html Helicopter QE will never be reversed
<snip> Let's go further and eliminate government debt on the bloated balance sheet of central banks," he said. This could done with a flick of the fingers. The debt would vanish. They don't even have to announce anything to effectively implement it, there isn't any action they need to take. The likelihood that any of those bonds are ever paid just gradually, quietly declines to zero. Along the way, the Fed drives yields negative by paying too much and there's no reason for anyone to hold them and sucks them all up. The Federal Reserve will simply continue to expand it's balance sheet sopping up all unbought treasury obligations during an auction. There will be no failed auction, as there should be. There won't be an actual default, they'll just create the money to pay off the United State's obligations. This is currently working, if ONLY because most of the money has been locked up in the canyons of Wall Street. But eventually it will spill over the banks (pun intended) and we will experience hyper-inflation, currency destruction, and financial collapse. Another Bitcoin anyone? I'll take gold for 10,000 Alex. |
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Posted: 4/4/2013 9:12:42 AM EST
[#47]
Sooooo I know it's a pretty radical concept and I propose this knowing i'll be looked at with this face
. But isn't this kind of proving the point that was being made in Zeitgeist? I'm not saying i'm on board but with all this debt crap, vanishing fiat money, erasing debt, restructuring of assets, and blah blah blah, it seems more realistic; The more I follow this thread the more solid it seems (not all of it, but at least some parts). IDK, just wondering what you guys think?
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Posted: 4/4/2013 9:43:39 AM EST
[#48]
Quoted: Sooooo I know it's a pretty radical concept and I propose this knowing i'll be looked at with this face . But isn't this kind of proving the point that was being made in Zeitgeist? I'm not saying i'm on board but with all this debt crap, vanishing fiat money, erasing debt, restructuring of assets, and blah blah blah, it seems more realistic; The more I follow this thread the more solid it seems (not all of it, but at least some parts). IDK, just wondering what you guys think?Every Individual, Every Media Outlet, Every Documentary, Every 'Personality' make valid points...The Problem is deciphering their agenda & how their bias attempts to influence & manipulate public opinion.  Zeitgeist & others didn't uncover some 'Secret' they are spinning Historic Events to say, 'See, those over there are no good; follow my Lead now!!' WE get that from the MSM daily Trust your gut, learn the facts the best you can, take care of your own 'Family Circle', and let the Political Pimps become depend on each other, to cover up their Treasonous Acts. Those dependent on the Pimps have decided to take the easy way, and Lazy never prospers. Desperation to by Political Pimps to stay Relevant: After two-decade downturn, Bank of Japan unleashes world's biggest stimulus: $1.4 trillion... |
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Posted: 4/4/2013 12:13:03 PM EST
[#49]
CEO Of Italy's Largest Bank Says Haircuts Of Uninsured Depositors "Acceptable", Should Become A Template
...and then you hear 'Inter-Dependent World' Central Bank Efforts May 'End in Tears': El-Erian |
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Posted: 4/4/2013 2:43:38 PM EST
[#50]
Quoted: CEO Of Italy's Largest Bank Says Haircuts Of Uninsured Depositors "Acceptable", Should Become A Template ...and then you hear 'Inter-Dependent World' Central Bank Efforts May 'End in Tears': El-Erian People should pay attention to the El-Erian video above. This is a "structural" problem, not a "cyclical" problem. We are not in a normal, or natural, economic cycle. What we are in is a global Keynesian-based, monetary and economic central planning experiment. Even those conducting it (EU, Fed, BOJ, etc) know it's an experiment. Many, myself included, believe these manipulations are causing our "structural" problems to grow. They are making the problems worse. We should know by now that freedom, is the only thing that works. That's true for all aspects of human society. But with each crisis, often caused by central planning, and collectivism, the "controllers" (rulers) use MORE economic planning and collectivism, causing the economic distortions to increase. The fix is so simple. Cut the size, and more importantly the scope of government, steadily reduce both "warfare" and "welfare" spending, and eliminate all economic central-planning. Allow individuals to exercise their natural rights to life, liberty, and the pursuit of happiness. The people in government need to stop trying to make reality "safe", they can't. Allow individuals the freedom to exercise their personal responsibility, and to make their own reality as safe as possible. From an Austrian's point of view while the problems and distortions have become complex, the solutions are simple, individual freedom. Here is another link to a video/article posted today on CNBC which supports El-Erin's comments in glockO's post above. |
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