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1) max out your credit card 2) DONT PAY YOUR CREDIT CARD BILL 3) profit
Max out cards due to buying physical gold and silver, then default via BK = profit.
"A less consumption-dependent economy will help rebalance the country's external accounts"
I believe he is saying throughout this essay that we have to spend less, but I could be wrong.
"we have to spend less" but we need to pretend spending LOL
also goad any bill collectors into breaking the law to generate even more funds for silver purchases.
rinse and repeat.
not likely to work.
He's giving the speech from Palm Beach....fucking oasis of ungodly "wealth" in what is an otherwise poor part of FL.
West Palm Beach =/= Palm Beach
West Palm Beach resembles a third world country today.
As do much of the rest of formerly solidly middle class American parts of the nation...
two is :
Buy silver ?
From 1920 - 1970 it was under $5.00, in 1991 it was under $5.00, in 2001 it was under $5.00, in 2005 it was at $7.50. ( We already had debt issues priced in in 2005, Social Security • Medicare obligations, massive debts, the Bush wars, the credit markets already started showing said issues in 2002 ) .....
1920 - $1.37
1947 - $0.60
1963 - $1.29
1968 - $2.56
1971 - $1.27
1974 - $6.70
January 21,1980 - $48.00
March 28, 1980 - $11.10
1982 - $4.88
1985 - $6.50
1989 - $6.00
1991 - $4.60
1995 - $6.10
2001 - $4.50
2005 - $7.50
2007 - $12.00
Awww, is someone sowwy he missed the twain?
Somehow this looks more like a bubble to me: http://moneycentral.msn.com/investor/charts/chartdl.aspx?symbol=CAT
How much is it worth a oz, in 2011?
Around 34 pairs of dirty underpants.(DUP)
Bought silver in 2000, probably sell it in 2013-2014.
"there r a couple of billion tons of copper in Argentina just on the surface." And of course "where there is copper...
There is a reason they called it Argentin(ium)a.
But was a long time ago. Handwaving does not suffice to talk down the price of silver any longer. If there were millions of tons of silver sitting on the plains of Argentina waiting to be picked up, SOMEONE would have done it already.
Book it boy! My pompous prognosticator of contrarion indications!
Buy BAC? Gold not so much, he said... bottom falls out of $1355 ("look out below"), BAC @$14 with rocketship potential, said he.
1985 - $5.20
1986 - $6.10
1995 - $11.46
1998 - $43.00
2000 - $20.00
2003 - $38.00
2006 - $54.00
2008 - $30.00
2009 - $3.00
We already had debt issues priced in in 2005, Social Security • Medicare obligations, massive debts, the Bush wars, the credit markets already started showing said issues in 2002
Once again, you're "analysis" is brilliant by comparison and your impartiality shines. :)
Now get back in line like a good little bitch... Because you do what they tell ya...
Just make sure you kiss my feet after this bubble burst' , 80 years worth of silver under $8.00 !!!! I call that a long term trend • support
Hows GLUU, MPEL, and ZEUS up 30% after my calls in 2-3 months .... Not many pro's calling those stocks.
Last 10 years from $5 to $38.50... I call that a long term "uptrend".
Observing BAC over the same period... I'm unsure how to label that wet noodle.
And as far as this "bubble burst"... If silver starts to smell, you can count on all your "calls" hitting the shitter... right along with your "fundamental" market.
Difference is I own these metals, AND this "shit market". You have personal disdain for the metals, and don't believe this is a "shit market"
Never let your emotions get in the way of a good trade. You're no different than those shorting the S&P for the last 2 years. Personal disdain against a liquidity / debt trade. Book it.
and the dow recovered from the 29 crash in 1954. so what's your point? do you live in the past or the present?
1. Max out your credit card.
2. Buy siliver, default on cc.
AH yes that was the problem all along, the peasants just werent SPENDING enough! Duh!
I love underpants gnome economics.
I love underpants gnome economics.
It's a buns and gutter economy.
Buy silver and be happy.
*correction* To be more specific.......Max out on Silver purchases.
Matt & Treys' simplistic model for Gnomish economic engineering, seems to have atleast a currency with a intrinsically valued base currency in trade. dirty underpants by weigt/recycle value have a higher value then most printed linen I've seen. I'd pay my taxes in dirty underpants any day!
hell, i guess nobody said it had to make cents.
One of my favorite episodes. How art imitates life. It works though! If you consider your profit as dirty underpants or USD.
The guy is a typical FED fool.........he make no logical nor "rational" sense......It shows he doesn't really understand the current economy...what drives it and its fault lines...........he should be removed from office immediately before he causes more harm.
What drives the economy? Promises of more fiat printing. The fault lines in it? None apparently exist.
But You have to do it slowly or they find out:
1. Max out your credit card2. Smoke hopium3. PROFIT
he can go fuck himself cause the public is tired of being the recipient
looks like the Irish are getting it again by the next crew of bastards in charge
Nothing will happen until these fools are willing to admit, even if only in private, that the economy started to contract at the end of 1999/ 2000, when the false miracle of the later Clinton years began to wear off as the accounting tricks and dotcom mania faded, held at bay by ultra-low rates and the rampant credit expansion of the housing bubble.
They are obsessed with aggregate monetary (i.e. credit) growth, but are blind to the extend of the malinvestment and bubble chasing that generates these extreme booms and busts. The assets do not generate the returns to justify the investment, so it is only through new buyers coming in that a profit can be made - classic Ponzi economics.
The Fed is saying - borrow, spend and be merry, for tomorrow we die.
Credit Card Balance: 0
Feels good! Visa/MC = Suck
Most folks are going to be maxing out their Credit Cards on gas and food.
Don't laugh, but if we go into Weimar Mode, then anyone who maxes out the credit card to buy stuff will probably end up being able to beat inflation better than the savers who have no debt.
Unless the savers bought silver or gold. You wouldn't know about that, since you can only post charts of those two metals on down days, which are pretty rare these days.
Yea if the 'savers' are just saving fiat currency or stocks and havent been buying real items of value, theyre screwed.
In a few weeks I am attending one of these events in which Lockhart will be speaking. I was told there would be a Q&A.
What should my question be?
Ask what was the first clue, they recognized, we were entering a banking crisis. I am curious. Hopefully it was not Lehmans failure.
ask him if he'd like a bite of your i-pad
- How are US central bank policies different from Japan's of 10 years ago, and what empirical evidence suggests that the outcome will be any different?
- What empirical research supports the Fed's massive, costly social engineering experiment to influence inflation expectations?
- Does he have any good iPad recipes?
1. max out credit card buying silver. 2. Screw the banks 3. profit.
We can't fix the global imbalance, just Americas. When will the FED figure this out.
Why are we not seeing the helicopter cash drops we were promised? Funnelling the monetization through the banks is a sneaky switcheroo. Actually dropping bundels of bills would surely help us get spending moving in the trenches, as he advocates.
yes! if certain banks can borrow all they want at 0%, the citizens should have that right too.
Of course Congress and the banks would never, ever alter the contract terms on consumer debt mid-stream. No sir, they're straight shooters and treat everyone, even the little people, fair and square. And our ever-vigilant justice system will uphold consumer rights against malfeasance or fraud by large institutions, we can count on that as sure as the sunrise every morning.
Together we thrive.
Where the f'ck does the fed come up with these people, and how stupid are economists as a whole. Does this a- hole realize the only people with money anymore are the very rich. No he advises to go out and spend in the setting of decreasing wages, inflation, household debt, and a dropping dollar. this is the way to fiscal health. No wonder this country is so screwed. don't get back on your feet, get more into debt, transfwer more of your money to the bankers.
I'd be arrested if I said what I'd like to see happen to these people
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