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Guest Post: Into The Economic Abyss

Tyler Durden's picture




 

Submitted by Brandon Smith of Alt-Market

Into The Economic Abyss

Over the past few years, mainstream analysts have
shown a tenacious blind faith in the U.S. economy and the dollar that
goes far beyond religion to the point of mindless cultism, so, when even
they begin to question the future of American finance (as has been
occurring more and more everyday), you know its time to worry. For
those that have been following my work since 2007, the events of the
past few months have not been a surprise at all, however, for those just
waking up to the ongoing implosion of our fiscal infrastructure, the
bubbling inflationary meltdown just over the horizon and the nightmare
unfolding around our national debt is rather shocking. Living
through a full spectrum catastrophe is, to say the least, confusing,
especially when you have no idea where the whole thing began.

Until now, the mainstream media has provided nothing but economic fantasy for the masses. They
have satiated the public with what amounts to financial toddler talk
for helpless preschool minds averse to any research beyond their daily
15 minute sippy cup of New York Times, CNN, MSNBC or FOX cable news
sound bites. I mean, have you ever actually stopped and read a Paul Krugman article more than once? Or listened carefully to an MSNBC economic piece? It’s
like being violently accosted by a band of slobbering mental deficients
with securitized ARM mortgages stuffed in their pants. Of course, fewer and fewer people are now buying what these hucksters are selling. With
gasoline nearing $5 a gallon, grain prices doubling, and shelf prices
beginning to skyrocket, it’s hard for even the most ignorant suburban
schlep to remain oblivious to the problem anymore. We are no longer on the edge of the abyss; we have fallen into it head first…

I make this statement not for effect, not to
startle people out of their apathy, not even to illustrate what “may” be
coming around the bend in the near future. I make this
statement as directly and sincerely as I know how; we have indeed
crossed the line between economic weakness and economic catastrophe. For those of you who have been asking when the final stage of the economic collapse will begin, that time has arrived. Here is why…

Energy Inflation Overdrive

Here’s how to tell when inflation is about to run
out of control in your country; wait for the politicians and bankers to
begin making excuses for its consequences instead of pretending it
doesn’t exist! Remember after the initial 2008 spike in oil prices when we talked about the prospect of “speculation” as the culprit? Remember
also that I have pointed out for the past three years at Neithercorp
Press that when the dollar eventually began to crumble, and the price of
crude began to spike again, the government would try to blame
speculators as the scapegoat hoping that Americans would assume the
situation today was the same as it was in 2008?

http://neithercorp.us/npress/2010/12/oil-juggernaut-unleashed/

Well, guess what? The Obama
Administration has just initiated the first volley of “speculation”
propaganda talking points by tapping the Department Of Justice among
others to “investigate” possible trader fraud and speculation in the
price destabilization of oil:

http://www.bloomberg.com/news/2011-04-21/obama-says-u-s-team-to-study-whether-speculators-driving-up-pump-prices.html

Ah! So it’s those devious “traders”
and “speculators” out there in the ether that are driving up the price
of oil, and don’t worry folks, ole’ Barry is on the case! Little mention of OPEC’s general distaste for current U.S. activities in the Middle East. And
certainly, no mention of the dollar’s continuous sharp decline over the
past two months from the White House as being even remotely responsible
for you being robbed at the gas pump. The dollar, despite
intervention by G7 countries, continues to depreciate against the
Japanese Yen, and has also slid to a 15 month low against the Euro:

http://www.rttnews.com/content/CurrencyMarket.aspx?Id=1597070&SimRec=2&Node=

At the publishing of this article, the Nymex crude
index is at around $113 a barrel, while the Brent crude index stands at
$124 a barrel. Gasoline prices across the country are averaging $3.50 to $4.00 a gallon. Now, some crazy individuals out there may question any overt concerns towards $120 or even $150-a-barrel crude. We survived it back in 2008, right? Why not today? However,
this fuzzy logic depends greatly on a very unfortunate premise; that
the economic atmosphere of today is the same as it was in 2008. Not even close…

The crude explosion in 2008 lasted for around six
months, peaked at around $4 a gallon, and then ended with a
deflationary-like plunge precisely because that price spike WAS (for the
most part) caused by speculation. This time, expect no peak. Only an endless steady climb as the summer months progress. We
have been calling for an increase in oil costs far exceeding the $150 a
barrel achieved in 2008 and we stand by that prediction.

Negative aspects of energy inflation will take hold
much faster than in 2008, primarily because our economic foundations
are even weaker than they were three years ago. Today, we
not only have a massive and unsustainable national debt, and a credit
crisis still unresolved, but also a privately controlled Federal Reserve
with no oversight running amok, printing non-stop since the derivatives
bubble first popped. Not even the dollar’s fake reputation as a safe haven investment can stall the collapse now.

High energy costs hit every conceivable sector of the economy, from freight, to food, to vacations, to housing. People
drive less when it costs them twice as much to do so, which means less
shopping, fewer trips to Disney World, and second thoughts about moving
to a new home in a new state. The cost of producing goods
hits wholesale prices, which eventually hit retail prices when corporate
chains are no longer able to absorb the increases. Your electric and heating bills take a bite right out of your tender behind. All of these factors will snap the thin thread our system is clinging to. America, as we know it, WILL NOT survive $5-$10 gas. Period.

To Default, Or Not To Default

Should the debt ceiling be raised? Should it be frozen in place? Frankly, in the short term, these questions are irrelevant. In either case, the taste and feel of the resulting chaos will be the same. Holding the debt ceiling in place will at least (in theory) stop the Federal Reserve’s printing bonanza. If
the Treasury can’t continue borrowing from the Fed, then the Fed has no
means to continue creating debt or fiat (my suspicion though is that
they would find a way around this). A national default would result. The
U.S. Treasury Bonds held by governments around the world would become
essentially worthless, the dollar would lose its reserve status, plummet
in value, and hyperinflation would result.

If the debt ceiling is raised yet again, the Fed
will persist in its quantitative easing programs until the dollar is
dust, or foreign central banks lose all interest or respect and begin a
dollar/treasury dump, again resulting in hyperinflation or Stagflation. Today,
news has hit the wire that officials in China are discussing a
reduction of their large forex (Foreign Exchange) reserves to around $1
Trillion and diversifying away from the Greenback:

http://news.xinhuanet.com/english2010/china/2011-04/23/c_13842843.htm

To put this in perspective, China currently holds
around $3 Trillion in various bonds and currencies, a large portion of
them U.S. dollars. This means that China is now considering cutting its reserves by over two-thirds! Can you guess where the majority of those cuts are going to come from…? This is devastating news for the dollar!

It is perhaps not a coincidence that this news
comes right after the S&P changed its debt rating outlook for the
U.S. to negative. At the beginning of this year, the Obama
Administration and the Treasury made it clear that rating agencies would
be ignored when it came to their analysis of the American debt
situation. Rather convenient since this was right before
U.S. default became a stark reality in the face of budget battles and
the falling dollar. Ironically, despite the government’s
insistence that ratings agencies views no longer mattered, the White
House still attempted to pressure the S&P to back down from its
recent announcement:

http://www.foxnews.com/politics/2011/04/20/obama-officials-tried-convince-sp-issue-credit-warning/

Fitch has also warned that the U.S. “official” debt
to GDP ratio is around 100%, an impossible position for any nation to
maintain and still hold onto a AAA credit rating. As long as we continue
to spend at the rate of a trillion dollars or more a year (not counting
Fed stimulus spending which is mostly unknown), and the so called GOP
leadership is willing to compromise cuts down to a pathetic pantywaist
$38 billion, you can bet the ratings outlooks will grow much worse in
the coming months. That said, if you see what I see; the
endless stream of evidence asserting a deliberate destruction of the
U.S. economic structure and the dollar as a pretense to remove it as the
world reserve and replace it with a basket of currencies under the
control of the IMF, then the government’s seeming fiscal madness and its
complete inability to heed the wishes of the people it is supposedly
tasked with defending makes perfect sense. To put it simply, they represent globalist interests, not our interests. Shocking….I know. But then again, I’m just a crazy kooky conspiracy theorist doom monger terrorist puppy killer….

But at least I’m not a liar…

Alternatives: Ours and Theirs

Nothing scares the hell out of me more that $1500 an ounce gold and nearly $50 an ounce silver. I
mean, I’ve been predicting it since the credit collapse, and I’ve been
begging people to buy precious metals for the better part of three
years. Its one thing to know that such inflation is coming, but it’s another thing to witness it first hand. If
you took my advice to buy silver back in November of 2010 at $25 to $27
an ounce, for instance, then your investment has just doubled. It’s barely been six months!

http://neithercorp.us/npress/2010/11/silver-still-the-investment-of-a-lifetime/

Despite incredible market manipulation, precious metals have fought back and are now on the path to historical highs. Even if you are a holder of PM’s, though, this is not good news for the country.

There are two reasons why international banks like
JP Morgan have consistently manipulated the market value of gold and
silver down (and been caught in the act). First, global bankers strive to remove all competition from any economic system, and this includes forms of currency. Gold and silver have long been competing forms of currency to fiat paper. Therefore, banker attacks on metals are a given. The less viable gold appears to be as an investment, the less people will take it seriously as an alternative to the dollar. You
must be forced to believe that only dollars hold “tangible value”,
otherwise, Americans would realize they don’t need the dollar (or any
fiat currency) at all.

Second, commodities like gold and silver are traditionally prime indicators of inflation and dollar devaluation. Skyrocketing commodities mean poor monetary policy. Thus, manipulation of metals downwards helps to hide poor monetary policy. The
doubling of silver in only six months despite this manipulation, along
with the doubling of most other commodities in the past two years, is
not just a sign of destructive inflation, it is a guarantee.

As the dollar heart attack nears a climax, many
individuals as well as sovereign states are turning towards precious
metals and alternative markets as a way to hedge against a Weimar-style
fiscal fiasco. At the same time, globalists are introducing their own “solutions” into the mainstream. Joseph
Stiglitz of Columbia University has come out against the dollar,
calling for an end to its world reserve status as well as the
implementation of a new “global system”:

http://www.bloomberg.com/news/2011-04-10/stiglitz-calls-for-new-global-reserve-currency-to-prevent-trade-imbalances.html

George Soros has done the same at his Bretton Woods
II conference, which received almost no initial publicity despite four
major journalists on the speaking list, including the editors of both
Reuters and The Times, calling for the “global regulation of financial
systems”, as well as the formation of a “New World Order”:

http://www.guardian.co.uk/politics/2008/nov/14/g20-summit-key-aims-imf

So, you have the American people pulling towards
transparency and sovereignty, and you have the globalists pulling
towards more secrecy, more unaccountability, and more centralization. Story as old as time, right? Perhaps the stakes are higher this go-around…

If global banks have their way, we are facing, at minimum:

Full Housing Collapse

Full Credit Collapse

Grid Failures

State And Municipal Defaults

National Default

Energy Crisis

Food Crisis

Civil Unrest

Increased Crime

Reduction Of Civil Liberties

Martial Law

How these incidents play out in the end is dependent upon the reactions of the citizenry. Placation will result in the complete loss of Constitutional freedoms. Rage could result in civil war. There are no easy answers. There are no magic bullets that remove all obstacles. This IS the reality we are facing in the near term, and there is little left to question. I
am personally shifting away from economic analysis because I feel that
the problems are so numerous and so evident that it makes little sense
for me to point them out much longer. The elephant in the room has been noticed.

If ever there was a time for solutions and action, it is now. From
my perspective, the best bet for short term protection against
inflation and dollar collapse is for communities and hopefully states to
begin decoupling from the diseased system entirely. This
means localized markets, self sustained neighborhoods and towns, as well
as sound money legislation and nullification bills at the state level. It means average Americans taking responsibility for their own food, energy, money, and defense. It
means pursuing the exact opposite of what international bankers are
suggesting; a global version of the Federal Reserve with prolonged fiat
slavery.

Again, we have crossed the line. Every concrete economic signal and index I know of shows the avalanche is no longer building but in progress. Prepare now, or not at all.

 

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Mon, 04/25/2011 - 07:10 | 1202908 BernankeHasHemo...
BernankeHasHemorrhoids's picture

Ezekiel 25:17. The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of Obama. Blessed is he who, in the name of charity and good will, shepherds the weak through the valley of the darkness. For he is truly his brother's keeper and the finder of lost children. And I will strike down upon Obama with great vengeance and furious anger those who attempt to poison and destroy my brothers. And you will know I am the Lord when I lay my vengeance upon you, Obama.

Mon, 04/25/2011 - 07:16 | 1202923 Blotsky
Blotsky's picture

Samuel L. Jackson

Mon, 04/25/2011 - 14:51 | 1204651 TBT or not TBT
TBT or not TBT's picture

Not that I'm sensitive about such things, but the line from Pulp Fiction cannot be found in the Bible as such.   There are elements of the killer's favorite line there, but not the whole thing, and not in that combination.

Mon, 04/25/2011 - 07:28 | 1202941 Squid-puppets a...
Squid-puppets a-go-go's picture

if only the people would go medieval on bernanke's ass

Mon, 04/25/2011 - 09:25 | 1203186 Cognitive Dissonance
Cognitive Dissonance's picture

You are welcome to start unless you don't feel you're one of the "people" you refer to.

Mon, 04/25/2011 - 13:38 | 1204221 tomster0126
tomster0126's picture

what are we waiting for?  use Facebook to create a group, let's get a mass protest organized.  seriously.

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 08:03 | 1203001 Twindrives
Twindrives's picture

That's why Barry Soetoro (the big bankers' shoe shine boy) was installed in the White House in 2008, to lead America into the abyss.......and if re-elected in 2012..... into hell.     

Mon, 04/25/2011 - 08:12 | 1203014 thedrickster
thedrickster's picture

Word, the CIA creation that is Barry O.

http://www.lewrockwell.com/orig11/madsen1.1.1.html

Mon, 04/25/2011 - 12:09 | 1203768 Diogenes
Diogenes's picture

What is weird is that Obama is a Marxist. Did the CIA create a Marxist president as part of their mission to combat Communism?

Mon, 04/25/2011 - 08:14 | 1203012 Gully Foyle
Gully Foyle's picture

Guess what people, they be planning to keep you trapped in the US

http://www.boingboing.net/2011/04/25/state-dept-adding-in.html

State Dept adding intrusive, semi-impossible questionnaire for US passport applications

 

Olga sez, "The U.S. Dept of State is proposing a new Biographical Questionnaire for passport applicants: proposed new Form DS-5513 asks for all addresses since birth; lifetime employment history, personal details of siblings; mother's addresses prior to your birth; any "religious ceremony" around time of birth, circumstances of birth including names (as well as addresses/phone numbers) of persons present, & more. Failure to answer can mean denial of passport, & govt reserves right to use this info for 'routine uses.'"

It seems likely that only some, not all, applicants will be required to fill out the new questionnaire, but no criteria have been made public for determining who will be subjected to these additional new written interrogatories. So if the passport examiner wants to deny your application, all they will have to do is give you the impossible new form to complete.

It's not clear from the supporting statement, statement of legal authorities, or regulatory assessment submitted by the State Department to the Office of Management and Budget (OMB) why declining to discuss one's siblings or to provide the phone number of your first supervisor when you were a teenager working at McDonalds would be a legitimate basis for denial of a passport to a U.S. citizen.

You've got the rest of today to submit your comments on this proposal. Lots of additional material at the link below.

http://www.consumertraveler.com/today/state-dept-wants-to-make-it-harder...

State Dept. wants to make it harder to get a passport

by Edward Hasbrouck on April 22, 2011


If you don’t want it to get even harder for a U.S. citizen to get a passport — now required for travel even to Canada or Mexico — you only have until Monday to let the State Department know.

The U.S. Department of State is proposing a new Biographical Questionnaire for some passport applicants: The proposed new  Form DS-5513 asks for all addresses since birth; lifetime employment history including employers’ and supervisors names, addresses, and telephone numbers; personal details of all siblings; mother’s address one year prior to your birth; any “religious ceremony” around the time of birth; and a variety of other information.  According to the proposed form, “failure to provide the information requested may result in … the denial of your U.S. passport application.”

The State Department estimated that the average respondent would be able to compile all this information in just 45 minutes, which is obviously absurd given the amount of research that is likely to be required to even attempt to complete the form.

It seems likely that only some, not all, applicants will be required to fill out the new questionnaire, but no criteria have been made public for determining who will be subjected to these additional new written interrogatories.  So if the passport examiner wants to deny your application, all they will have to do is give you the impossible new form to complete.

It’s not clear from the supporting statementstatement of legal authorities, or regulatory assessment submitted by the State Department to the Office of Management and Budget (OMB) why declining to discuss one’s siblings or to provide the phone number of your first supervisor when you were a teenager working at McDonalds would be a legitimate basis for denial of a passport to a U.S. citizen.

There’s more information in the Federal Register notice (also available here as a PDF) and from the Identity Project.

You can submit comments to the State Dept. online at  Regulations.gov until midnight Eastern time on Monday, April 25, 2011.  Go here, then click the “Submit a Comment” button at the upper right of the page. If that link doesn’t work for you, it’s probably a problem with the javascript used on the Regulations.gov website. There are alternate instructions for submitting comments by email here.

(Note that the proposed form itself was not published in the Federal Register. The Identity Project was eventually provided with a copy after requesting it from the Department of State, and posted it here.)

Here’s a draft of the comments (PDF) being submitted by the Consumer Travel Alliance and other consumer, privacy, and civil liberties groups and individuals, if you would like to use it for ideas for comments of your own. (It’s also available  in OpenOffice format for easier editing.)

Extra points to the person who gives the best answer in the comments to the question on the proposed form, “Please describe the circumstances of your birth including the names (as well as address and phone number, if available) of persons present or in attendance at your birth.”

Mon, 04/25/2011 - 08:50 | 1203094 lesterbegood
lesterbegood's picture

The FedCorp does not want anybody leaving the country with their property. Confiscation coming soon?

Mon, 04/25/2011 - 09:23 | 1203164 rwe2late
rwe2late's picture

 

 Apparently adopted persons, children of divorced parents, families who move often, individuals with deceased parents, and individuals with extensive work histories are, along with others, to be arbitrarily denied passports.

(Hmmm, just what were my mother's addresses during when I was ages -1 thru 10?)

 The penalty for any suspected "fraud" in completing the form will no doubt be a decade or more in a FEMA work camp

Mon, 04/25/2011 - 13:44 | 1204240 tomster0126
tomster0126's picture

Nooo....is this for real?  Thoughts on a national ID card being instituted, and perhaps used as a form of paperless currency?

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 09:30 | 1203193 LawsofPhysics
LawsofPhysics's picture

Oh boy, that sounds "doublesuperplusungood."

Mon, 04/25/2011 - 10:42 | 1203441 Founders Keeper
Founders Keeper's picture

[State Dept. wants to make it harder to get a passport]---Gully Foyle

Thanks for your post, Gully. Point noted.

My point: My family and I won't be needing a passport. We won't be leaving America. This is our country. Our home. This is where Lady Liberty stands, and we stand with her, beside her, and will fall or fail before her.

So help me God.

 

Mon, 04/25/2011 - 19:39 | 1205805 BigJim
BigJim's picture

Sorry, mate; Lady Liberty left the US some time ago.

Mon, 04/25/2011 - 12:36 | 1203865 AurorusBorealus
AurorusBorealus's picture

 “‘Fallen! Fallen is Babylon the Great!’[a]
   She has become a dwelling for demons
and a haunt for every impure spirit,
   a haunt for every unclean bird,
   a haunt for every unclean and detestable animal.
3 For all the nations have drunk
   the maddening wine of her adulteries.
The kings of the earth committed adultery with her,
   and the merchants of the earth grew rich from her excessive luxuries.”

Mon, 04/25/2011 - 13:49 | 1204298 Whatta
Whatta's picture

yeah...so exactly when the fug will the meek inherit the earth? A post bernank-obama-harvard mba-giant squid-fukishima earth probably won't have much left to offer.

Mon, 04/25/2011 - 07:14 | 1202909 lolmao500
lolmao500's picture

Yep, when the US goes the way of Argentina, it won't be pretty!

Titor was right, once the US goes kaboom, fighting is gonna start. Everywhere in the US by 2012.

Mon, 04/25/2011 - 07:19 | 1202929 Mongo
Mongo's picture

Decoupling bitches!

Mon, 04/25/2011 - 07:26 | 1202934 DutchTreat
DutchTreat's picture

If the German script will be followed an American Hitler will stand up and accuse the Asians. Go long (EU) defense companies. 

Mon, 04/25/2011 - 07:43 | 1202969 Nate Taggart
Nate Taggart's picture

How different is the American population from the German population in the 20's and 30's?  Are we really immune to a Nazi like regime as most people believe?  

As before, the populist government will look for a scapegoat, but this time around it will be all the wealthy and the productive regardless of religion/race.  Concentration camps for small business owners?  It should be the banksters but we know they'll get off scott free.  Much easier (and lucrative for the politicians) to target the smaller fish. 

Mon, 04/25/2011 - 07:51 | 1202979 Seasmoke
Seasmoke's picture

Heil Trump !

Mon, 04/25/2011 - 09:17 | 1203160 Chuck Walla
Chuck Walla's picture

I think the Brown Shirts are already running the place.  The plan is likely to precipitate some crisis So Obama can declare elections as "Too dangerous" and declare martial law. Then we will see some real blood shed. The serious and committed fighters will die off and the rest of us will go along with the new serfdom so we can keep our cowardly little lives.

Mon, 04/25/2011 - 09:59 | 1203269 pan-the-ist
pan-the-ist's picture

Obama doesn't look like a fascist. In order to pull fascism off, you need to appeal to the narrow-minded nationalists who will blindly secure the state once they are in protection mode.  To pull this off, you need a segment of the population that is willing to stand up for its kind and follow a leader of its kind against an enemy that is different.

There are many reasons why fascism is a right-wing idiology, but this is first and foremost.

Mon, 04/25/2011 - 10:06 | 1203288 redpill
redpill's picture

Right-Left paradigm is a fallacy.  Every "leftist" revolutionary leader has the same cult-of-personality nationalistic characteristic as Adolf & Benito.  The real spectrum is Authority versus Liberty.  And the Authoritarians all share the same need to get most of the people to be willingly compliant so they only need to get out the jackboots and batons for the mouthy dissidents.

I think the 2012 election cycle will be very telling, if Obama dramatically changes his rhetoric to make himself out to be a "strong leader" that is willing to take authoritarian steps to "fix things" we could see him become something very different than what you perceive him to be today. 

America does still have time to redeem herself, come back from this ledge, and work through our economic problems through liberty and freedom.  But I'm afraid the only chance of that rests on the possibility of electing a funny old Congressman from a little district in Texas who has rarely been taken seriously when he was warning us this day would come.  I don't like our chances, but I know who I'm voting for.

Mon, 04/25/2011 - 10:14 | 1203302 pan-the-ist
pan-the-ist's picture

It's a question of psychology friend.  Those inclined to be right-wing tend to think the world is black and white, right and wrong, good and evil.  Liberals tend to think in shades of grey.  Liberals tend to allow cancers to grow, while conservatives tend to cut it out.  In order to fix what is broking, the country needs to be culled, that can only be done by a certain breed, and Obama isn't a part of that breed.

There are no Scott Walkers on the right wing ticket for 2012 for a reason, the people can't stomach it.  It will take an economic disaster for the 'silent majority' to allow what needs to take place, then and only then will you see a stong conservative candidate.  Ron Paul is too much of a vagina to effect the kind of change that needs to be done.

Mon, 04/25/2011 - 10:20 | 1203322 kridkrid
kridkrid's picture

I think you are both right.  I think the left vs. right fallacy has been engineered to keep focus squarely away from the real criminals.  So I agree with Red Pill... it's not really real.  But the simple fact that this is engineered doesn't mean that it won't then be used to usher in what is to come.  To that point... our final form of fascism (which in my opinion will only mean doing away with facade of democracy) would likely come primarily from what we today view as the "right".  Just all my opinion, mind you.

Mon, 04/25/2011 - 10:20 | 1203323 redpill
redpill's picture

Again, false paradigm.  Talk to a liberal about health care, taxes and unions and see how many shades of gray you find in their arguments.  "Liberal" minded people are subject to every bit of the sort of hard line authoritarianism that "conservative" minded people can be. 

Mon, 04/25/2011 - 10:34 | 1203389 pan-the-ist
pan-the-ist's picture

Bullshit.

Mon, 04/25/2011 - 10:42 | 1203440 kridkrid
kridkrid's picture

You are being a bit defensive and caustic.  Nobody likes to be told that they are supporting a fallacy... those on the "left" or "right". 

Mon, 04/25/2011 - 20:03 | 1205921 BigJim
BigJim's picture

No, it's not 'bullshit' - liberals are very keen to see people's wealth confiscated at the point of a gun, to be redistributed to those deemed more worthy of possessing it. This doesn't seem authoritarian to you because you have been brought up with it, but it is just as authoritarian to throw someone into a cage for not paying 'their' taxes, as it is to throw someone into a cage for smoking the 'wrong' kind of plant.

Mon, 04/25/2011 - 10:38 | 1203411 pan-the-ist
pan-the-ist's picture

Some Liberal minded people are okay with authoritarianism, while most conservative people like authoritarianism.  Fixed that for you.

Mon, 04/25/2011 - 11:00 | 1203502 Founders Keeper
Founders Keeper's picture

[...while most conservative people like authoritarianism.]---pan-the-ist

Yeah, that's what I was taught in US schools also.

Pan-the-ist: Another victim of Progressive academia.

 

 

Mon, 04/25/2011 - 11:28 | 1203622 pan-the-ist
pan-the-ist's picture

How do you protect culture, wealth, and the means of production from people smart enough to know that there is nothing magical about property ownership?  It involves a boot and a club; without the state protecting the individual from the masses, you'll have none left of what conservatives are trying to conserve.

Mon, 04/25/2011 - 19:45 | 1205838 BigJim
BigJim's picture

It involves a boot and a club; without the state protecting the individual from the masses, you'll have none left of what conservatives are trying to conserve.

Unfortunately, the state no longer protects the individual from the masses; it now actively allows the masses to enslave the individual via redistributive taxation.

Mon, 04/25/2011 - 11:24 | 1203610 redpill
redpill's picture

Wrong. Modern "liberals" are fine with, and actively support, economic authoritarianism many forms. If you don't understand that, you are blinding yourself to the truth. Modern "conservatives" actively support social authoritarian policies. The important thesis is that BOTH are perfectly fine with extremely authoritarian government policy as long as it agrees with their stance on an issue. This is because modern politics is not based upon a coherent philosophy but upon individual issue appeal and voter division.

Advocating a consistent policy such as Liberty means not tasking government to impose their authority on your neighbor merely because you disagree with them. But neither modern "liberals" or "conservatives" have any problem doing that if they feel "justified" in their policy stance.

Mon, 04/25/2011 - 11:59 | 1203737 pan-the-ist
pan-the-ist's picture

So conservatives don't want a government in place who's purpose is to protect the wealth of said conservatives from "liberals"?  Seems to me the goal of the right these days is to weaken government for wealth preservation (cull social programs etc), so they'd all jump on board when the Nazi comes to town and puts his foot on the throat of "the people" who use the government to extract wealth from the wealthy.

Liberty, in your view, ultimately means wealth protection.

Mon, 04/25/2011 - 12:09 | 1203761 redpill
redpill's picture

Now you're just talking nonsense. Who do you think is doing the seizing? The government is, for its own purposes. If that's "protection" then I'll skip it.

Mon, 04/25/2011 - 12:41 | 1203877 pan-the-ist
pan-the-ist's picture

There is a large area of reality that you are oblivious to.

Mon, 04/25/2011 - 10:55 | 1203489 weinerdog43
weinerdog43's picture

Sorry, but you're full of shit.  Actually, I'm not sorry.  You're just full of shit. 

Mon, 04/25/2011 - 11:37 | 1203650 redpill
redpill's picture

Look, I'm sure if you're coming at it from one side or another you probably wish it were not the case. But the sooner you recognize the truth the sooner you'll stop being their tool.

Mon, 04/25/2011 - 20:10 | 1205956 TheFourthStooge-ing
TheFourthStooge-ing's picture

Authoritarian nationalism is ambidextrous.

The terms left wing and right wing are empty and meaningless; anyone who uses them in a serious manner has exposed himself as either a shill or a dupe.

Likewise, liberal and conservative have lost all meaning except as pigeonholes into which people are placed based upon their response to ridiculous and picayune wedge issues.

The Obama administration is functionally equivalent to George W. Bush's third term. America is a one-party system; it masquerades as a two-party system in order to cultivate the illusion of voters having a choice.

Consequently, with very few exceptions, voting has become a futile charade. I'll vote for Ron Paul for president in 2012, as I did in 2008 and 1988. I don't expect he'll win (since most Americans regard freedom with fear and suspicion), but I can vote for him with a clear conscience.

 

Mon, 04/25/2011 - 20:13 | 1205982 akak
akak's picture

+1

Mon, 04/25/2011 - 10:37 | 1203393 Pope Clement
Pope Clement's picture

Hitler, Mussolini (and his mutual admiration pen pal Roosevelt) didn't look very much alike either but they were all socialists who morphed into varying degrees of fascism. Seems like the the old French Estates General political classifications of Left and Right are not very useful to clear thinking on the subject; perhaps Sen. Moynihan's distinction of those who are of the party of Liberty as opposed to those who are not would be better....

Mon, 04/25/2011 - 12:44 | 1203902 pan-the-ist
pan-the-ist's picture

The national socialist party was co-opted during the night of the long-knives.  Mussolini always was a fascist.  Roosevelt's rule was a "state of emergency", but he never installed or never was allowed to install the pinions that would allow fascism to take root.

Mon, 04/25/2011 - 09:36 | 1203207 LawsofPhysics
LawsofPhysics's picture

America's population is too diverse.  The infighting everywhere will start.

 

A big difference between immigrants in the early 1900's and now is that in the early 1900's the immigrants actually wanted to become Americans and assimilate.  For example, they learned English better than most Americans.  They did not "demand" that the state provided Italian or German speaking schools.  Go long any weapons manufacturer in any country that can deliver to the U.S.

Mon, 04/25/2011 - 09:57 | 1203270 pan-the-ist
pan-the-ist's picture

You're naive.

Mon, 04/25/2011 - 10:07 | 1203297 LawsofPhysics
LawsofPhysics's picture

No, I lived it.  My family came here during WWII.  My Grandfather, my father, and myself all served our country before starting our own companies.  My grandfather would get very angry whenever my father spoke Italian in public (we spoke an unwritten dialect of Albanian Italian).  We have all done quite well, thanks.  

Mon, 04/25/2011 - 10:16 | 1203316 pan-the-ist
pan-the-ist's picture

You're grand-father lived it.  You didn't.

Mon, 04/25/2011 - 10:30 | 1203366 LawsofPhysics
LawsofPhysics's picture

Other than being a troll, do you have a point?

Mon, 04/25/2011 - 10:38 | 1203400 pan-the-ist
pan-the-ist's picture

Yes.  You are naive.

Mon, 04/25/2011 - 13:41 | 1204232 thames222
thames222's picture

Bro, stop trolling out...look at our society today compared to 100 years ago, our culture doesn't have a face anymore, it's only defined by the multitudes of people that come here with their own values.  You're naive to think that people immigrate to America today with the same mentality as they did 100 years ago.

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 09:36 | 1203211 Holodomor2012
Holodomor2012's picture

The Pharisees and supporting infrastructure are living on borrowed time and they know it.  Every geo-political maneuver from 9/11 onward has been an act of desperation.  

http://www.youtube.com/watch?v=IStlBOX9F4o

Mon, 04/25/2011 - 09:43 | 1203231 kridkrid
kridkrid's picture
“When fascism comes to America it will be wrapped in the flag and carrying a cross.” - Sinclair Lewis

 

The apparatus is already in place, I think... there just needs to be the event to galvanize support and a well constructed scapegoat.  We'll get that before we go full tilt deflationary depression or hyper-inflationary chaos.  All just a matter of timing, from where I sit. 

Mon, 04/25/2011 - 13:09 | 1204026 MrSteve
MrSteve's picture

What is a cross?

Mon, 04/25/2011 - 14:30 | 1204537 kridkrid
kridkrid's picture

A religious symbol.

Mon, 04/25/2011 - 14:31 | 1204542 kridkrid
kridkrid's picture

A religious symbol.

Mon, 04/25/2011 - 13:58 | 1204355 boiltherich
boiltherich's picture

One need look no farther than the GOP platform and field of candidates to answer that, and I might note as a gay person the nation already has a readily available scapegoat.  A couple of evening "news" stories and an incident or two and viola, a hated minority becomes a hunted minority.  Did you all know that when the US and our allies liberated the concentration camps across Europe we freed the remaining Jews and Gypsies, and political prisoners and POW's and mentally disabled and all other occupants of the Nazi camp system except for "homosexuals," who were retained because they were deemed to be legitimate criminals?  Violators of Paragraph 175 of the German legal code outlawing homosexuals. 

For my personal situation I am glad my father was an immigrant from Ireland, a neutral island nation that grants a passport to anybody that had either an Irish parent or grandparent.  I formalized my dual citizenship in 2003 because I knew what we were headed into economically.  Mind you I do not intend to live in Ireland but because it is an EU member state I can live and work in any EU state without a visa, or their outlying territories, like the BVI, French Guiana, Reunion, Aruba, Martinique, etc.

 

Mon, 04/25/2011 - 07:28 | 1202942 Graeme
Graeme's picture

How will this affect pop music?

Mon, 04/25/2011 - 07:32 | 1202954 Broomer
Broomer's picture

There will be only patriotic music 24/7.

Mon, 04/25/2011 - 07:49 | 1202976 Blotsky
Blotsky's picture

Orwell and the "telescreen"

Mon, 04/25/2011 - 07:26 | 1202943 Graeme
Graeme's picture

How will this affect pop music?

Mon, 04/25/2011 - 07:26 | 1202945 Snidley Whipsnae
Snidley Whipsnae's picture

I stopped watching the bobble heads on tv years ago and stopped reading Krugman about the same time. All blather and money honeys.

Mon, 04/25/2011 - 07:31 | 1202951 Robslob
Robslob's picture

Good Morning Sunshine...I have PM's and now I have to try to figure out how to convert them into goods with the environment listed above?

Jeez...may just sell all PMs and buy more guns, ammo, food and water.

Mon, 04/25/2011 - 08:20 | 1203023 Rainyday_man
Rainyday_man's picture

It feels right to order by the case

Mon, 04/25/2011 - 08:38 | 1203063 FEDbuster
FEDbuster's picture

PM's come after you have taken care of guns, ammo, food and water.  One year of food minimum, a very good water filter,  pistol and rifle for every family member (training, too) and as much ammo as you can afford (great barter item).  Start a survival garden this year, if you have a yard.  Survivalblog.com has a lot of great information on preping.  Good luck.

Mon, 04/25/2011 - 08:48 | 1203089 Neoisolationist
Neoisolationist's picture

Pistol and rifle for every family member, including my 10 year old. armor, too. Sad this.

Mon, 04/25/2011 - 12:45 | 1203897 SoNH80
SoNH80's picture

Crossbows are very good too.  Easier to keep them supplied with serviceable ammo for the long run, excellent for hunting.

Mon, 04/25/2011 - 10:00 | 1203277 pan-the-ist
pan-the-ist's picture

What, exactly, are you going to do with it?  You'll probably end up accidentally killing a family member.  Good luck.

Mon, 04/25/2011 - 10:47 | 1203438 FEDbuster
FEDbuster's picture

I am just guessing, but maybe we will use them to shoot unprepared dumbfucks wearing "Obama 2012" t-shirts looking to steal our food when the government rice trucks fail to show up at the Superdome.

Mon, 04/25/2011 - 10:51 | 1203475 pan-the-ist
pan-the-ist's picture

And you'll end up shooting one of your family members by mistake.

Mon, 04/25/2011 - 11:04 | 1203520 FEDbuster
FEDbuster's picture

My family members don't wear Obama t-shirts, we do however practice shooting pistols, rifles and shotguns on a regular basis.

Mon, 04/25/2011 - 12:40 | 1203882 SoNH80
SoNH80's picture

Are you one of those commenters paid by the White House Ministry of Information?  Wake up and smell the coffee, dude, the urban crowds will go ape within 48 hours of a "glitch" in food, water, power, transportation, take your pick, or all of the above.  An unarmed man is just a weak mammal when the State of Nature re-emerges.  The sandal-wearing moonbats will be the first to be eaten, just so you know. 

Mon, 04/25/2011 - 10:58 | 1203487 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Yeah Fed, what you said.

 

Its a fair assessment that Pan's rapier sharp wit will save him from the angry hordes, NOT.

 

If you know how to use a gun, that is unlikely. Attend a training course, duh.

Mon, 04/25/2011 - 11:06 | 1203527 DosZap
DosZap's picture

pan,

You'll probably end up accidentally killing a family member

Easy to spot a left winger.

Contrary to your brainwashed views, there are still millions left that are real men, and are well versed in the art of warfare and self defense.

If the actor we have performing as our leader declares any Emg orders.

Buckle up, life will quickly become not worth living.

Mon, 04/25/2011 - 09:36 | 1203214 SheepDog-One
SheepDog-One's picture

My gun store takes silver and gold.

Mon, 04/25/2011 - 07:44 | 1202967 Cassandra Syndrome
Cassandra Syndrome's picture

I have faith in creative destruction. A new system will emerge with limited government , no central banks and the entrepreneurial spirit as there was in the gilded era of the 19th century.

Mon, 04/25/2011 - 07:53 | 1202989 augie
augie's picture

 

Cassandra is polishing brass on the titanic... it's all going down.

Mon, 04/25/2011 - 08:41 | 1203070 Cassandra Syndrome
Cassandra Syndrome's picture

I'm in a life raft ;-)

 

Mon, 04/25/2011 - 09:10 | 1203137 augie
augie's picture

good on ya brother. We can't all be debbie downers.

Mon, 04/25/2011 - 10:59 | 1203498 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Save some of the liquor for the rest of us. Your head start is unfair!

Mon, 04/25/2011 - 11:37 | 1203652 SheepDog-One
SheepDog-One's picture

You think youre in a life raft. Is it a space shuttle? If not you better buy arms and kevlar.

Mon, 04/25/2011 - 10:43 | 1203433 dbTX
dbTX's picture

Lets hope you are right, but even in the best case scenario, between now and then there's going to be a lot of carnage.

Mon, 04/25/2011 - 13:43 | 1204249 thames222
thames222's picture

so much carnage bro...the "transitory" period in the near future is going to be hellish.

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 10:44 | 1203439 dbTX
dbTX's picture

Lets hope you are right, but even in the best case scenario, between now and then there's going to be a lot of carnage.

Mon, 04/25/2011 - 07:49 | 1202980 Cassandra Syndrome
Cassandra Syndrome's picture

Dollar Index is at 73.83, lowest since early August 2008. Auspicious for the JP Morgue next month?

Mon, 04/25/2011 - 07:55 | 1202993 indio007
indio007's picture

Is the US really as insolvent as people think? How much gold and silver does the US have? I know it has at least double of the next closest country. That country ain't China either.

Mon, 04/25/2011 - 08:05 | 1203002 Ace Ventura
Ace Ventura's picture

"I know it has at least double of the next closest country."

You know this....for a fact....how? Just asking.

Mon, 04/25/2011 - 08:14 | 1203007 augie
augie's picture

@font-face { font-family: "Times"; }@font-face { font-family: "Cambria"; }p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: "Times New Roman"; }p { margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: "Times New Roman"; }div.Section1 { page: Section1; }

Insolvency is relative i guess is your point? I dont mean to offend anyone who has any friends or family that are mentally challenged but this example is the best i can come up with given my current hangover.

 

If one is retarded, but less so than ones peers (say the less retarded one retains the ability to control his/her bowels), does it matter that he/she is retarded because everyone else is similarly retarded?

I would say yes, you're still retarded regardless of how "handicapped" everyone else.

 

To stop being a smart ass I would also suggest that the US really is that insolvent.

S&P doesn't downgrade its own country's debt without cause, contrary to recent history, debt ceilings are not raised, let alone year over year, 90% debt to GDP isn't just a clever number like 700 billion, do i even have to mention commodity prices or things that have actual value appreciating at break neck speeds because of the mechanism for how we value them (the dollar) plummeting?

Hangover or not i'm fairly confident we are the insolvent.

 

Mon, 04/25/2011 - 10:45 | 1203449 prophet_banker
prophet_banker's picture

Learn the truth N solution at. Public banking
institite.

Mon, 04/25/2011 - 11:54 | 1203718 augie
augie's picture

I don't have a use for a website that cites "yes" magazine articles. Thank you for the suggestion though.

Mon, 04/25/2011 - 08:10 | 1203010 SWRichmond
SWRichmond's picture

While the US may be (or may not be) a gold superpower, at what "price" does it assert that power?

Mon, 04/25/2011 - 11:33 | 1203634 dbTX
dbTX's picture

...at what price does it assert that power?

Market price won't really matter. When the US confiscates foreign held gold metal stored under NYFRB and moves it to West Point

Mon, 04/25/2011 - 08:13 | 1203017 seabiscuit
seabiscuit's picture

How much does the US actually have, sans tungsten, or how much do the citizens have? Or are those two question one of the same?

 

@TD - what are the odds of a FDR-like citizen assisting the govt coffers happening again?

Mon, 04/25/2011 - 08:19 | 1203021 Twindrives
Twindrives's picture

Surely you jest.  There is no gold at Fort Knox.  It's a empty shell, just like Obama's skull.

Mon, 04/25/2011 - 08:27 | 1203044 brian downunder
brian downunder's picture

And if there is still any gold in Fort Knox a Brinks truck will collect it in the morning.

Mon, 04/25/2011 - 08:29 | 1203045 brian downunder
brian downunder's picture

And if there is still any gold in Fort Knox a Brinks truck will collect it in the morning.

Mon, 04/25/2011 - 08:30 | 1203046 brian downunder
brian downunder's picture

And if there is still any gold in Fort Knox a Brinks truck will collect it this morning.

Mon, 04/25/2011 - 08:28 | 1203047 cossack55
cossack55's picture

1949      702 million oz

2011      261 million oz (or not)

Foreigners bought the rest between 1949 and 1974 @ $35 an ounce while amerikans were prohibited from owning gold. What a swell gubment.

Mon, 04/25/2011 - 09:44 | 1203234 SheepDog-One
SheepDog-One's picture

Zero silver and gold Indio.

Mon, 04/25/2011 - 11:13 | 1203569 DosZap
DosZap's picture

indio,

claimed reserves 8,100 tons of Gold,no Silver.

Which if sold at todays rates would run the Gvt a week, maybe.

And no one except China knows how much China has, and you can be your ass it's WAY more than 8100 tonsof Gold.

And, I would not even begin to guessimate the amount of Silver.Likely more than any country in the world.

Just renewed our passports, luckily had them renewed, not NEW ones.

None of that crap was there.

IF these are the real regs, it's high time to get the hell out of dodge, or at least your immediate family.

Mon, 04/25/2011 - 08:00 | 1202997 Robslob
Robslob's picture

Something is coming...what it is I have no idea...

Mon, 04/25/2011 - 08:18 | 1203015 SWRichmond
SWRichmond's picture

Simple: your lifestyle is going to be dramatically reduced.  Your liberty is going to be increasingly negotiated away or outright stolen.  Your savings will be stolen, along with any retirement equity you might "own."  The value of the money you put into Social Security and Medicare is lost, also stolen.  As the checks start to bounce and the dependency classes and government employees become angrier, your safety on the street and even in your home will be threatened.  Government kidnappings will become more frequent, as people with any money at all are arrested for anything and held for ransom, called "fines."

Anything else you'd like to know?

Mon, 04/25/2011 - 08:31 | 1203050 GOSPLAN HERO
GOSPLAN HERO's picture

Spot-on.

Mon, 04/25/2011 - 08:32 | 1203052 cossack55
cossack55's picture

Are those fines anything like the Asset Forfeiture Laws Daddy Bush gave us. If memory serves, 10 violation in 1989, over 200 on the list today.

Mon, 04/25/2011 - 08:45 | 1203088 FEDbuster
FEDbuster's picture

Our local police have become nothing but ticket issuers over the past three years.  I am sure they have been told "write tickets or lose your jobs" by the higher ups.  Both the local and county governments are broke, and property tax and sales tax revenues are continuing to drop despite raising the rates of both.  "Fines" are the new revenue source for local government.  A friend of mine was fined $130. for not having his dog on a leash on his own property (2 acres).  He asked the judge to change the ticket to a warning, and the judge said "in this economy we don't issue warning tickets".

Mon, 04/25/2011 - 09:49 | 1203240 Chuck Walla
Chuck Walla's picture

ticket issuers! I think not!  Thats PROFIT CENTER to you, Mr. Ciizen!

Mon, 04/25/2011 - 08:58 | 1203119 Fake Jim Quinn
Fake Jim Quinn's picture

A lot of people will have to give up their cable TV, smoking, drinking, eating out, endless waste on consumer junk they don't need. They'll find solace in things that matter -- like family, friends etc. In doing so they will simplify their lives, get off the endless consumerism/jealousy/treadmill their lives have become, and learn some joy in simplicity.

Mon, 04/25/2011 - 09:21 | 1203172 FEDbuster
FEDbuster's picture

The middle class American doesn't want "the simple life", and they will be really pissed off when it costs $150. to fill their mini van or suv.  Better to continue to let them down slowly (over decades) so they don't feel the changes.  Of course sometimes "change" is forced upon you, then you have to accept it or fight it.  I wonder if America's middle class has any fighting instinct left in them, or has it been lost over years of mindless TV and poor diet? 

Mon, 04/25/2011 - 09:42 | 1203222 Spastica Rex
Spastica Rex's picture

Are you proposing an alternative to an economy based on endless growth in resource extraction and consumption? ARE YOU CRAZY?!?

Mon, 04/25/2011 - 09:42 | 1203226 smithcreek
smithcreek's picture

Oh that all sounds so wonderful.  I'm glad you were still able afford a computer and high speed internet connection (or as you call it, "endless waste on consumer junk") to bring that little ray of sunshine into everyone's life.  My whole view has changed.  Now I can't wait for the collapase and would like to personally thank every banker and politician for providing me the opportunity to discover the "joy in simplicity."

Mon, 04/25/2011 - 10:03 | 1203279 Vendetta
Vendetta's picture

Yeah but will we have our MTV?

Mon, 04/25/2011 - 12:49 | 1203931 SoNH80
SoNH80's picture

That's precisely what happened after the fall of Rome.  "Wergeld".  When there weren't enough actual criminals to demand fines from, to keep the local warlord in the pink, they'd grab any poor sap with money, traveling peddlers, and demand, "your money or your life."

Mon, 04/25/2011 - 10:39 | 1203426 WeeWilly
WeeWilly's picture

I'm with you, Rob. A helluva uneasy feeling here. I kept hoping fiat would hang in for awhile, I have some good plans to blow the rest of mine before it's worthless. Gonna be tough times when things turn to shit...

Mon, 04/25/2011 - 10:52 | 1203468 prophet_banker
prophet_banker's picture

Dotting the i and crossing the t on world gov. The architecture is already in place.

Mon, 04/25/2011 - 13:47 | 1204256 tomster0126
tomster0126's picture

neither do, I but I've got my emergency checklist prepared--keep those seeds and bulbs handy and try to find some arable land if you don't have it already.  we're all going to have to grow our own food in 20 years.

 

www.forecastfortomorrow.com

Mon, 04/25/2011 - 08:03 | 1203000 velobabe
velobabe's picture

special, america is just fucking S P E C I A L.

Mon, 04/25/2011 - 08:17 | 1203022 hardcleareye
hardcleareye's picture

While I agree with the conclusion, reading that rant was a waste of my time...... I will avoid "light weight" crap written by Smith in the future.  An example of the dumbing down of America. 

 

 

Mon, 04/25/2011 - 08:40 | 1203069 FWM
FWM's picture

Agreed, but the picture from the source page is really great.

Mon, 04/25/2011 - 08:18 | 1203024 brian downunder
brian downunder's picture

Watching from here the US seems to have a population of lemmings just waiting for the first one to jump.

I hope someone can stop this in time... Good luck, I really hope you are sucessful.

 

Mon, 04/25/2011 - 08:57 | 1203111 Bubbles the cat (not verified)
Bubbles the cat's picture

Don't feel too concerned about us Nrthn Hemisphericals. About an hour after the system falls over here it will fall over there.

Mon, 04/25/2011 - 08:21 | 1203027 Lazane
Lazane's picture

"and you tell me over and over and over again my friend,  were on the eve, were on the eve of destruction"

Mon, 04/25/2011 - 09:49 | 1203243 Spastica Rex
Spastica Rex's picture

This is a world destruction. Your life ain't nothing. The human race is becoming a disgrace. The rich get richer. The poor are getting poorer. Fascist, chauvinistic government fools. People, Moslems, Christians and Hindus. Are in a time zone still searching for the truth. Who are you to think you're a superior race? Facing forth your everlasting doom. We are Time Zone. We've come to drop a bomb on you. World destruction, kaboom, kaboom, kaboom!

Mon, 04/25/2011 - 08:23 | 1203036 css1971
css1971's picture

Meh. Enough with te melodrama.

10+ years of stagflation, peaking in the teens. No default. No monetary collapse. No hyper inflation.

 

Mon, 04/25/2011 - 09:52 | 1203252 kridkrid
kridkrid's picture

Monetary collapse in inevitable... it's built into a system that calls debt money and has interest due the moment it is created.  Aggregate debt can't be paid back only expanded... as interest is rolled forward.  If money is destroyed (paying back debt) the banking system which underpins the entire economy becomes insolvent.  You choice is deflationary depression/collapse or hyper inflation/collapse.  Two sides of the same coin.  Timing is the only thing to be considered. 

Mon, 04/25/2011 - 10:57 | 1203500 prophet_banker
prophet_banker's picture

Ppffftt. This system will stay irrational longer than the people will stay solvent.

Mon, 04/25/2011 - 11:17 | 1203586 kridkrid
kridkrid's picture

Most likely... though it doesn't make my post any less correct.  It's only a matter of timing... it always has been.  Used up... thrown out... next.

Mon, 04/25/2011 - 12:19 | 1203798 DosZap
DosZap's picture

Dumping the Fed, and issuing US Notes is the only way to recovery.

Period.

Default on FRN's.

Why we pay banstas to print our soverign money, and then pay interest on it, is amazing.

JFK knew it, and in my mind died for it.

He started printing the US Notes, end gaming the Fed, and it got him dead.

The next election is the Live or Die scenario for our Republic.

Seriously, if it gets much worse, I GUARANTEE you states will start seceding again.

Americans are not all gutless swine.

Mon, 04/25/2011 - 20:34 | 1206093 MrSteve
MrSteve's picture

"not all gutless swine" you say! Name two as we used to say in grade school. States seceding from the USA is one of the least well thought out mantras out here today. Where is the seceded state's energy and credit going to come from? How will it ship its production to foreign ports, like NO or LA or Long Beach or Calumet River/Chicago? How will it pay tariffs and excise on its shipments? Who will handle security? Where will the Nebraska Navy dock its fleet?

 

So name two states, besides Alaska and Texas...

Mon, 04/25/2011 - 08:27 | 1203039 jkruffin
jkruffin's picture

So, when do they put SLV and GLD into the S&P 500 to try to keep the ponzi going? LOL

Mon, 04/25/2011 - 08:26 | 1203043 MarketFox
MarketFox's picture

That´s it folks....

This story is getting extremely repetitive....

One thing for sure is that excessive debt leaves less room for price appreciation elsewhere....

 

There is going to be big time deflation....

 

Don´t think so....

 

Where is the money ...

 

Think again....

 

 

Mon, 04/25/2011 - 08:32 | 1203053 Zero Govt
Zero Govt's picture

"Big Time Deflation" indeed . . . the only economic indicator that'll be on the up is liquidators and pawn shops . . . in short, we're fuked!

Mon, 04/25/2011 - 08:40 | 1203067 Cassandra Syndrome
Cassandra Syndrome's picture

 

Too much money supply, decreasing propensity to supply goods and services, and now increasing velocity of money as the inflation genie hops out and spooks people into frontloading their purchases. There is only one way prices can go in such a perfect storm.

Mon, 04/25/2011 - 09:03 | 1203128 Ratscam
Ratscam's picture

deflation only in stuff you dont need such as a second car, boat, wife, house etc.

anything you need for life such as food, energy, increases in price

Mon, 04/25/2011 - 09:21 | 1203161 slewie the pi-rat
slewie the pi-rat's picture

my wife keeps deflating.  a hot ash fell on her during a biflation party, and i need a vinyl patch or i won't be able to keep her reflated.

Mon, 04/25/2011 - 09:32 | 1203197 Zero Govt
Zero Govt's picture

yes and Benny has been trying to keep his bubble whore reflated too... in fact Benny and Greenspan have been inflating their old hag for 3 decades and have been patching her up since 2000 ...but now there's too many holes and not enough Fiat patches because the economy is not under their control ..it's economic activity and prices are set by consumers and small-medium sized enterprises, not the old stupid pimps at the Fed 

Deflation it is

Mon, 04/25/2011 - 13:10 | 1204033 Ratscam
Ratscam's picture

take some satire mix it with intelligence, economics and history and you end up with a site many adore. thanks tyler and the bloggers

Mon, 04/25/2011 - 08:31 | 1203049 sasebo
sasebo's picture

No problem. Just get rid of all the useless assholes. Or better yet, give them plenty of rope.

Mon, 04/25/2011 - 08:33 | 1203058 Lazane
Lazane's picture

it is here once again, only this time the world is playing for keeps.

http://www.youtube.com/watch?v=ntLsElbW9Xo

Mon, 04/25/2011 - 08:36 | 1203059 GOSPLAN HERO
GOSPLAN HERO's picture

http://www.youtube.com/watch?v=Tb-gI_pFog0

Hell March -- dedicated to Obama and Benny Boy.

Mon, 04/25/2011 - 08:42 | 1203071 Turd Ferguson
Turd Ferguson's picture

"Second, commodities like gold and silver are traditionally prime indicators of inflation and dollar devaluation. Skyrocketing commodities mean poor monetary policy. Thus, manipulation of metals downwards helps to hide poor monetary policy. The doubling of silver in only six months despite this manipulation, along with the doubling of most other commodities in the past two years, is not just a sign of destructive inflation, it is a guarantee."

+++++

Mon, 04/25/2011 - 08:41 | 1203074 Hexus
Hexus's picture

They are trying destroy the dollar/US economy, if you want to join Soros and Rockefellar in shorting US treasuries be my guest, I'll be laughing at your idiocy from the other side of the Atlantic. Enjoy your "free market" suckers!

Mon, 04/25/2011 - 09:13 | 1203153 clones2
clones2's picture

Yes - things in Europe seem so rosy right now as well... /sarc

Mon, 04/25/2011 - 09:14 | 1203156 overmedicatedun...
overmedicatedundersexed's picture

in uncertain times (for investing/trading it's the best of times and the worst of times)..where can one turn to protect/grow wealth??

Frn's ? bonds? stocks? PM? farm land? collectibles?? a cash business? guns and food?

answer: unknown, you can only inflate- real wealth is an illusion..invest wisely my friend invest wisely.

I recommend finding a quiet backwater-were food production is close and cities far.. go where time is slow..the power centers of the elite are not a destination for a calm life and clear head.

PM's are showing more of us are aware of the failure of fiat paper..

Mon, 04/25/2011 - 08:45 | 1203082 buzlightening
buzlightening's picture

Chicoms have insured a dollar crisis for bentrod burnokios FOMC week. Chicoms never liked benron anyway, as he was band from china. Dud guy must be sweatin bullets. The DINKer; dollar inker to infinity, strokin out trillions this week to keep the dollar from crashcading. Along with multitudes of price fixing sweaty old sticks of dynamite, the rat bastards been juggling, all now raining down on benron! Raining down on every other dead head fed goon in the bankster fraudster criminal world. Exploding! goon body parts flying financially to smithereens. Burning to ashes, as the perfect set of paper fiat ASSets the criminals are. Ashes! Ashes! They all fall down!



 

 

Mon, 04/25/2011 - 08:54 | 1203084 ivars
ivars's picture

Neo -fascism is Americas solution, as middle class takes over both rich and poor extremes, nationalism overtakes globalization etc.

Not that its bad or good thing. It just the way societies transform after crisis. The only way forward that will be accepted by majority of American voters. Tea Party it will start with. 

Next, look for anschluss of Canada (resources) and incooperation of Mexico (cheap labour, same language) . That will finalize the domestic resource consolidation in the Greater USA to justify 30 years of defence spending expansion is needed, also to be able to stand against China. 

 

http://saposjoint.net/Forum/viewtopic.php?f=14&t=2627#p31950

Well it might take 10 years before it happens, but not much more, I think.

 

 

 

Mon, 04/25/2011 - 08:52 | 1203099 Hexus
Hexus's picture

Oh, and the gimp who wrote this article knows even less about economics then I do. He claims the2008 all time high in oil was caused by speculation but this one isn't because in 2008 the price fell suddenly. So this time it's the governments fault for causing inflation.

Ok, there's two things wrong with that, firstly how do we know it won't do the same this time? Secondly, the demand for oil is fairly inelastic, people having more money in their pockets doesn't effect demand much. Even if it did, he average person is skint, this should drive prices down. The only people benfiting from QE and government largess are the fucking SPECULATORS, who are SPECULATING IN OIL AND FOOD WITH FED MONEY. So yes you could blame it on inflation or speculators, it's the same thing retard.

Mon, 04/25/2011 - 09:22 | 1203106 rwe2late
rwe2late's picture

 deleted

and moved (meant as reply to prior comment)

Mon, 04/25/2011 - 08:58 | 1203110 GOSPLAN HERO
GOSPLAN HERO's picture

The American kleptocracy will adopt National Socialist doctrines.

ARBEIT MACHT FREI!

 

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