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Guest Post: iDepression 2.0

Tyler Durden's picture




 

Submitted by Jim Quinn of the Burning Platform

iDepression 2.0

 

            Depression 1.0

           

            iDepression 2.0

As I listen to pundits, politicians and populists expound on the jobs
situation in our country day after day, as if they knew what they were
talking about, I’m reminded of the Seinfeld episode where
George quits his job as a real estate agent. He sits in Jerry’s
apartment and ponders whether he could become the general manager of the
Yankees, a sportscaster, getting paid to watch movies, or a talk show
host. After the discussion with Jerry, he realizes that he has
absolutely no skills that are transferable to another career. Everyone
in America would like to be the General Manager of the Yankees or get
paid for watching movies, but that isn’t how it works in the real world.

A little reality about the job situation in this country is in order.
The unemployment rate reported by the Bureau of Labor Statistics and
parroted by the mainstream media is currently 9.6%. Once you stop
counting people who have given up looking for jobs and “left the
workforce”, discouraged workers, marginally attached workers and workers
forced to work part-time, you magically get a 9.6% rate. Using the
method of measuring unemployment used during the Great Depression and
reproduced by www.shadowstats.com,
the real unemployment rate is a depression-like 22.5%. The peak
unemployment rate during the Great Depression was 25%. There is no doubt
that we are in the midst of 2nd Great Depression, but where are the
bread lines and the lines of unemployed winding around the corner? No
need. This is the electronic Great Depression – iDepression 2.0. Your 99
weeks of unemployment and food stamps are direct deposited into your
bank account so that you don’t have to leave the comfort of your
McMansion that you haven’t made a mortgage payment on in the last 14
months. There were no credit cards in 1933. Without a job or a house,
you needed to move to where there might be a job. Hence the mass
migration from the Midwest to California – ala The Grapes of Wrath. Today,
a neighbor in a matching McMansion down the street, with the perfectly
manicured lawn, could be unemployed for three years and no one would
ever know. They could sustain themselves on unemployment payments, food
stamps, and credit cards. Welcome to the iDepression 2.0.

Dude, Where’s My Job?

Every politician in the U.S. is running for election on a platform of
“creating” new good paying jobs for Americans. Only one problem.
Politicians don’t create jobs. Businesses create jobs. When politicians
and the Federal Reserve get involved in the job market, bad things
happen. The excessively low interest rates put in place by the Federal
Reserve created a housing bubble that led to the “creation” of 1 million
new construction jobs between 2002 and 2006. Of course, the bubble
burst has led to the loss of 2 million construction jobs since 2007.
What the myopic pundits on CNBC don’t realize, because they aren’t
programmed to think, is that the Greenspan Housing Bubble “created”
millions of other jobs that had no chance of being sustained. The number
of realtors grew from 750,000 in 2000 to 1.3 million in 2006. We needed
hundreds of thousands of new mortgage brokers and appraisers to falsify
documents and not conduct proper due diligence. Wall Street needed to
hire thousands of new MBA shysters to create fraudulent packages of
toxic mortgages and the rating agencies needed to hire thousands of
Burger King level thinkers to stamp AAA on the packages of toxic
mortgages. These were just the direct jobs created by Easy Al. Home
Depot, Lowes and a myriad of other home retailers built thousands of
stores to service the needs of all these new “homeowners” and hired
hundreds of thousands of clerks, installers, and cashiers. Once the
delusion really got going, the “equity” from the homes generated jobs at
car dealers, restaurants, cosmetic surgery centers, cruise lines, and
yacht retailers.

Barry Ritholtz described how the Federal Reserve provoked housing
bubble further warped an already unbalanced American job market:

Job creation has taken place across a wide swath of industries –
much more than just residential construction. Sure, developers,
builders, and subcontractors saw job growth explode. But it was far more
than that. From real estate agents to mortgage brokers, from designers
to contractors, plus the many employees of stores like Home Depot (HD)
and Lowes (LOW), the Real Estate industrial complex was responsible for a
disproportionate percentage of new job creation. From 2001, to the
housing peak in 2005, the total number of Realtors, as a percentage of
the Total Labor Force, gained nearly 50%.

The reality is that Greenspan, Bernanke, and the rest of the Federal
Reserve Governors “created” millions of jobs that were not sustainable.
Their policies distorted an already tenuous economic model, dependent
upon consumer spending, no savings, and delusions of home wealth. The
chart below paints the picture of sorrow. The key points are:

  • The number of employed Americans has declined by 7.4 million since 2007.
  • Goods producing jobs have declined by 19% since 2007, while service jobs have only declined by 2.8%.
  • Luckily, Government jobs have actually increased since 2007.
  • The population of the US has increased by 10.8 million since 2007.
  • The working age population has increased by 6.5 million since 2007, while the work force has only increased by 1 million.
  • Only 58.5% of the working age population in the U.S. is currently employed versus 64.4% in 2000, a lower level than in 1978.





Type of Jobs 2007 Today Change % Change
Manufacturing 13,879 11,670 -2,209 -15.9%
Construction 7,630 5,604 -2,026 -26.6%
Mining & Logging 724 745 21 2.9%
      TOTAL GOODS PRODUCING 22,233 18,019 -4,214 -19.0%
         
Trade & Transportation 26,630 24,785 -1,845 -6.9%
Education & Health Services 18,322 19,611 1,289 7.0%
Professional & Business Services 17,942 16,734 -1,208 -6.7%
Government 22,218 22,231 13 0.1%
Financial Services 8,301 7,577 -724 -8.7%
Leisure & Hospitality 13,427 13,169 -258 -1.9%
Information Services 3,032 2,711 -321 -10.6%
Other Services 5,494 5,364 -130 -2.4%
      TOTAL SERVICES 115,366 112,182 -3,184 -2.8%
ALL JOBS 137,599 130,201 -7,398 -5.4%
U.S. Population 299,398 310,233 10,835 3.6%
% of Population Employed 46.0% 42.0%    

 

When I hear Obama and his minions blather on about the jobs we have
added in the last six months, I want to break something. The truth is
that the country should still have 64.4% of the working age population
employed today as we did 10 years ago. That means we should have 153.5
million employed Americans today. Instead, we have 130.2 million
employed Americans. That is a 23.3 million job deficit and the Obama
administration crows when we add 50,000 new jobs in a month. Welcome to
iDepression 2.0.  

No Way Out

The United States of America is a hollowed out shell of the great
industrial machine that dominated the world after World War II. The BLS
data unequivocally proves this is so. The chart below compares American
jobs in 1970 versus today. The storyline about good paying manufacturing
jobs being shipped overseas is absolutely true. The population of the
United States in 1970 was 203 million. Today, the population of 310
million is 53% higher. During this same time frame manufacturing jobs
have declined from 17.8 million to 11.7 million, a 34% decrease. The
corporate oligarchs that run this country will tell you this is due to
efficiency. The truth is that these jobs were shipped to China in order
to enrich the oligarch CEOs and their MBA efficiency “experts”. The key
disturbing facts from this data are as follows:

  • Goods producing jobs as a percentage of all jobs have declined from 31.2% in 1970 to 13.8% today.
  • Lawyers, accountants, financial advisors and other paper pushing
    professions made up 12.4% of jobs in 1970 versus 18.7% of all jobs
    today.
  • Obese Americans love to go out to restaurants and be served.
    Hospitality employees now make up 10.1% of the workforce versus 6.7% in
    1970.
  • Obese, vain, stupid Americans have also benefitted the Health
    Services and Education industries as the number of nurses,
    proctologists, teachers, school administrators and Beverly Hills TV
    surgeons has surged from 6.4% of the workforce to 15.1%. You’d think we
    would be healthier and smarter with these figures. We’re not.





Type of Jobs 1970 % of Total Today % of Total
Manufacturing 17,848 25.1% 11,670 9.0%
Construction 3,654 5.1% 5,604 4.3%
Mining & Logging 677 1.0% 745 0.6%
      TOTAL GOODS PRODUCING 22,179 31.2% 18,019 13.8%
         
Trade & Transportation 14,144 19.9% 24,785 19.0%
Education & Health Services 4,577 6.4% 19,611 15.1%
Professional & Business Services 5,267 7.4% 16,734 12.9%
Government 12,687 17.9% 22,231 17.1%
Financial Services 3,532 5.0% 7,577 5.8%
Leisure & Hospitality 4,789 6.7% 13,169 10.1%
Information Services 2,041 2.9% 2,711 2.1%
Other Services 1,789 2.5% 5,364 4.1%
      TOTAL SERVICES 48,826 68.8% 112,182 86.2%
                          ALL JOBS 71,005 100.0% 130,201 100.0%

 

The politicians attempting to buy your vote today are promising new
good jobs. One side is going to impose 100% tariffs on all Chinese crap
coming into the country. This will revive domestic manufacturing.
Another side is going to create millions of “green” jobs. Imagine all
the solar panel jobs coming our way. Someone else is going to rebuild
the infrastructure of the country, generating millions of made in
America jobs. Too bad there are only 7 million people in the whole
country that have a construction background. The Federal Reserve is
going to print our way to millions of new jobs by reducing the value of
the dollar, again reviving our dormant manufacturing sector. I can see
Bethlehem, PA firing up the steel mills that have been dead for 20 years
and closing down their casinos. Maybe if we hire some more government
bureaucrats to administer the implementation of Obamacare and the
financial regulations that are eliminating free checking accounts, the
economy will miraculously revive. Paper pushers don’t morph into
construction workers. Criminal Wall Street MBAs don’t become petroleum
engineers. Unemployed waitresses in Riverside, California aren’t moving
to Washington DC to get a great job at Ruby Tuesdays.

The delusions continue. Unless American union workers are willing to
work for $7 per hour with no benefits, the manufacturing jobs are not
coming back from China. The corporate oligarchs and their bought off
cronies in Congress sold the country down the river over the last 40
years. Mega-Corporation profits are at record levels as goods are
produced by slave labor in the Far East at 80% lower costs than they
could be produced in the U.S. With 86% of the U.S. workforce in the
service industry, introducing tariffs on imported goods and devaluing
the dollar will further put the squeeze on the American middle class who
already have been systematically screwed by the ruling elite over the
last 40 years. Our society took 40 years to dig this hole. It is now so
deep, there is no way out. But, look at the bright side. At least we
don’t have to watch bread lines stretching down the block when we are
watching our 52 inch HDTV, holed up in our 5,000 sq ft McMansions,
ignoring the monthly mortgage payment bill, and waiting for our
unemployment funds to be direct deposited into our bank accounts. I get
all teary thinking about it. This is the iDepression 2.0.

The real people of this country who have worked and saved and done
the right things have been beaten down. It is time to stand up to those
in power and take this country back. We need the moral backbone of  Ma
Joad at the end of  The Grapes of Wrath:

I ain’t never gonna be scared no more. I was, though. For a while
it looked as though we was beat. Good and beat. Looked like we didn’t
have nobody in the whole wide world but enemies. Like nobody was
friendly no more. Made me feel kinda bad and scared too, like we was
lost and nobody cared…. Rich fellas come up and they die, and their kids
ain’t no good and they die out, but we keep on coming. We’re the people
that live. They can’t wipe us out, they can’t lick us. We’ll go on
forever, Pa, cos we’re the people

 

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Wed, 10/20/2010 - 16:38 | 665221 faustian bargain
faustian bargain's picture

Maybe you missed the part at the end where he says

It is time to stand up to those in power and take this country back.

 

I think it's up to the reader to interpret that as he will. Publicly inciting strikes or revolts invites some sort of reprisal.

Wed, 10/20/2010 - 17:00 | 665279 desgust
desgust's picture

+++++!!!!!

A fucking bastard this Quinn, nothing else!

Disclosure: I don,t live in the US and I am not Am.

Wed, 10/20/2010 - 17:13 | 665313 Jim Quinn
Jim Quinn's picture

We figured that out you cocksucker.

Wed, 10/20/2010 - 17:11 | 665309 Jim Quinn
Jim Quinn's picture

You're an angry motherfucker. Did you lose your fryboy job at McDonalds?

Wed, 10/20/2010 - 17:50 | 665400 linrom
linrom's picture

Wow, not only do you have a dirty mouth, but, you're very immature. Whats more you wrote that piece without any conviction, because, most authors would stand behind thier writings, you on the other hand, prefer to engage in name calling.

Wed, 10/20/2010 - 20:23 | 665685 Jim Quinn
Jim Quinn's picture

I don't debate with intellectual lightweights like yourself. Your moronic comments speak for themselves. By the way - go fuck yourself dickhead.

Wed, 10/20/2010 - 20:18 | 665673 Fearless Rick
Fearless Rick's picture

Jim, let me be the 100,000th to inform you that you're a doucebag. One simply cannot write articles and then call commentators motherfuckers and mock them about low-pay jobs.

No class at all man. You suck.

Wed, 10/20/2010 - 20:28 | 665691 Jim Quinn
Jim Quinn's picture

Fearless Rick - very scary alias.

I adopt the tone of the commentors. If someone want to debate the facts in my article I will do so. The morons like yourself that I pummel choose to take derogatory shots with no substance. You have joined that crowd. Do you have anything of value to add to my article? Anything?

The sound of crickets.

Go fuck yourself

Wed, 10/20/2010 - 22:25 | 665892 Hulk
Hulk's picture

Spot on article Jim, enjoying the responses to the Moronski's even more, LOL !

Wed, 10/20/2010 - 22:48 | 665929 Glass Steagall
Glass Steagall's picture

Pretty easy to throw rocks at people, huh?

WTF you written anyway?

Wed, 10/20/2010 - 23:30 | 665926 DavidPierre
DavidPierre's picture

SMOKEY QUINN is up to his usual obscene replies ... cut and paste... plagiarism...

Go back using these links and read Smokey Quinn's Bio.

See:
#577149

#577421

Some classic shit Smokey Quinn runs on his blog.

#495628

...................................................................................

#577815
Jason Rines, Smokey Quinn's former webmaster...

"Smokey and Jim are the same people, yes. I mapped both the I.P.'s back to his office at Wharton."

........................................................................................

Quinn is the problem... not just a symptom.

He works as an accountant at The Wharton School of Business but spends his entire business day on his website.

Smokey Quinn is sucking on the state's teet for the big paycheck as he tries to make himself out as some sort of guru (lol) with his flaccid economic articles. 

He writes about all the poor people who abuse the system while he basically does nothing all day but jerk off on his blog pretending to have all the answers.

The guy is absolutely stupid about 9/11 truth and believes everything in the Mafia/Government conspiracy theory.

YUP!...buildings just fall down...end of story.

  He's just a convenient tool for the system...spouting economic BS.

His previous webmaster dumped him after a year of bigotry and racist posting that attracted some very strange followers.  He's now paying some slave labor IT guy in India to keep him up on the web.

Quinn is a hypocrite surrounded by sycophants.

 Smokey Quinn's is an angry, hillbilly site run by an ivory tower right wing guy. Quinn hasn't worked in the private sector... besides with a retailer/homebuilder ... oh wow, Krugman once consulted too!

How different is he than Krugman, other than his obscene and racist views?

......................................................................................

You will always have 'your sheep' who will still respect you in the morning. MORON!

Thu, 10/21/2010 - 09:10 | 666425 Jim Quinn
Jim Quinn's picture

DP the American traitor/ 9/11 truther/ banjo player/ sheep lover crawls out from beneath his rock to make another pathetic post.

Wed, 10/20/2010 - 16:36 | 665209 Printfaster
Printfaster's picture

OK, I got my free 99 weeks, and I got my free food stamps.

Where do I go to get my free wrath grapes?  Is there a coupon for those, or do we get plastic?

Wed, 10/20/2010 - 17:45 | 665386 TuesdayBen
TuesdayBen's picture

McDonalds Monolopy game is running, One in Four is a Winner!!!

Wed, 10/20/2010 - 22:50 | 665928 The Alarmist
The Alarmist's picture

Key point is that you get plastic or a coupon so that you are beholden to the machine to be fed.  We might use the apparatus of the state to build a vineyard where the people could then pick their own grapes of wrath for no additional cost other than their own effort ... but if you could actually pick the grapes yourself, you would not be beholden to the machine.

Wed, 10/20/2010 - 16:37 | 665218 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Jim,

Nice post. You should run for office. A lot more of us should be running for office.

Since I believe that it can be done I would simply add that costs all in are not just about $7 an hour. What does it cost to have so many out of work? If you compare Detroit and UAW wages to non union wages in the Carolinas, people were working hard for Toyota making higher quality product at half the labor cost ... The UAW was the child of anti Soviet propaganda and fear ...

 

Wed, 10/20/2010 - 16:57 | 665271 desgust
desgust's picture

WARS, bitchez!

Stop pillaging the world, work for your money and less free lunches, educate your children without teevee and you will be rich!

Wed, 10/20/2010 - 17:11 | 665310 masterinchancery
masterinchancery's picture

We need to return to the US govt of 1835, Andy Jackson proprietor, and eliminate the 99% of our current govt that didn't exist then. Call it the Constitutional America movement.

Wed, 10/20/2010 - 17:46 | 665388 TuesdayBen
TuesdayBen's picture

I'm with you on that.

Wed, 10/20/2010 - 17:31 | 665349 spartan117
spartan117's picture

The delusions continue. Unless American union workers are willing to work for $7 per hour with no benefits, the manufacturing jobs are not coming back from China. The corporate oligarchs and their bought off cronies in Congress sold the country down the river over the last 40 years. Mega-Corporation profits are at record levels as goods are produced by slave labor in the Far East at 80% lower costs than they could be produced in the U.S.

Are you saying that we Americans need to accept a lower standard of living?  Stop spending beyond our means?  Stop expecting government to save us from everything and anything?  Accept the credit collapse as a precursor to severe deflation?  Accept the fact that if we allowed market forces to dictate all prices, that we would eventually be competitive with the rest of the world in manufacturing? 

If that's your thesis, then I say good luck to you.  I might agree with you in theory, but Americans will not accept the truth.  We are way too far gone.  We want our cake and eat it too.  We want a $90k a year lifestyle on $25k a year income.  How do we make up the difference?  We'll just borrow it.  And if other countries don't want to take our dollars, well, we'll just send in our uncomparable military. 

Wed, 10/20/2010 - 18:39 | 665487 WhackoWarner
WhackoWarner's picture

What I find incomprehensible is the general American failure to understand that much of the rest of the world is fed up with the arrogant attitude of assumed superiority and entitlement. Military force may be the last stand that attempts to preserve a culture that destroyed itself.

Even here the sight is so narrow.

 

Much as the world may sympathize with the plight of a society whose citizens are undergoing hardship there is no excuse for the worldwide damage that has been done by the  underlying attitude of entitlement and greed.

 

z

 

 

Wed, 10/20/2010 - 17:38 | 665365 macholatte
macholatte's picture

 

Tuesday, November 2: The Revolution!

Wednesday, November 3: Business As Usual

 

                       Viva La Revolution!

 

Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions.
Niccolo Machiavelli

 

Some scientists claim that hydrogen, because it is so plentiful, is the basic building block of the universe. I dispute that. I say there is more stupidity than hydrogen, and that is the basic building block of the universe.
Frank Zappa

 

 

Wed, 10/20/2010 - 17:51 | 665402 Tomified
Tomified's picture

Not feeling as much pain as GD1 yet. Back then most households lived off one wage earner. This meant that about 25 percent of families sufferered greatly. Now, among the hoi polloi at least, we have primarily 2-income households. If one salary disappears, especially if some benefits keep coming in, the family situation is less dire.

Wed, 10/20/2010 - 18:32 | 665476 High Plains Drifter
High Plains Drifter's picture

Inside The Illusory Empire Of The Banking Commodity Con Game.

 

http://www.istockanalyst.com/article/viewarticlepaged/articleid/4593724/...

By official IMF reports, the United States is supposedly the largest holder of gold reserves in the world, at 8,133 tonnes. I say "supposedly", because the Federal Reserve has not allowed the US's reported gold reserves to be confirmed by an independent third-party audit since January 20, 1953. Thus, nobody really knows how much physical gold the US owns, except those that blindly accept the government's word as the truth. There are many additional reasons why the official US gold reserve tonnage remains in doubt besides the lack of confirmation of the IMF reported number in more than 58 years. During the 58-year period since the last audit, leaked US Central Bank documents uncovered by GATA have confirmed numerous speculations that the Federal Reserve has dumped US gold reserves in the form of Central Bank swaps and/or through lease arrangements with global bullion banks. Just how much of this gold may have disappeared from US bank vaults to achieve the suppression of gold prices is anyone's guess as is the amount of these gold swaps and leases that have actually been returned to the US......

Wed, 10/20/2010 - 19:16 | 665548 chealy3
chealy3's picture
U.S.A. says: October 6, 2010 at 12:01 pm

Democrats will pass a tier 5 after the elections in November. Vote Democrat and vote FOR America. The republicans have made enough of a mess for Obama to clean up. Democrats are doing a great job of FIXING everything. Look at the stock market since Obama took over. It has almost doubled ! ! ! ! Things are looking GOOD !

Wed, 10/20/2010 - 19:17 | 665552 blackcrow
blackcrow's picture

I think the best thing America can do in to take a leaf from China - become a Communist country and the run a market economy.

Wed, 10/20/2010 - 22:54 | 665936 The Alarmist
The Alarmist's picture

Actually I saw something the other day that suggested that the high rate of savings in China is a big problem for the US and that the solution from this US economist was for the US to start pressing the Chinese to adopt programmes like social security, etc. so that they wouldn't have to save so much and could start consuming. So the US is actually now telling the Commies how to be better Commies. What a country.

Wed, 10/20/2010 - 19:38 | 665586 Buttcathead
Buttcathead's picture

I aint buy'n nuttin.

Wed, 10/20/2010 - 19:54 | 665623 myshadow
myshadow's picture

well don't expect any perp walks,

 

Obama Team On Furor Over Foreclosures: 'Problem For The Banks and Servicers To Fix'

 

'rather than on looking back to make sure homeowners and investors weren't harmed during the reckless boom years. The administration is "committed to forcing institutions to change the way that they conduct business," Obama's top housing official said, "to make sure these problems don't happen again."

 

http://www.huffingtonpost.com/2010/10/20/obama-foreclosures-donovan-whos...

Well, they are pathetically consistant, no bankster investigations, they drop AIG, and now blow off this shit.

Wed, 10/20/2010 - 21:26 | 665653 cranky-old-geezer
cranky-old-geezer's picture

All we have to do is push the federal government back behind the Constitution.  It would end federal government involvement in people's individual lives living in the 50 states. It would end federal taxes on people living in the 50 states. It would end popular election of the president, and congresspeople (they would be appointed by state governments). It would end all federal programs involving people living in the 50 states, including social security, obamacare, and any other type of federal "healthcare" program.  It would end the 14th amendment, remove the alternate federal legal status placed on people living in the 50 states, and restore those people to their former status as free people.  It would end the Fed, as the Constitution doesn't give the federal government authority to establish a central bank and give said bank control of the nation's money. 

90% of what the federal government does today is outside it's original Constitutional authority.

Of course it will never happen.  They won't allow it to happen.

Wed, 10/20/2010 - 20:14 | 665667 Kreditanstalt
Kreditanstalt's picture

Nonsense.  Those manufacturing jobs aren't coming back to high-cost America unless Americans are willing to accept LOWER LIVING STANDARDS, as do the Chinese & Indians.  There is no way you can have both high standards of living and high-paying sustainable jobs in industry at the same time.

Those jobs had no choice but to migrate to China etc.  What would YOU, the CEO of some big multi-national do, faced with a choice of being priced out of business or offshoring?

Wed, 10/20/2010 - 22:57 | 665940 The Alarmist
The Alarmist's picture

Good comment.  Point to take is that the Chinese and Indians are on their way up, so they are not so much accepting a lower standard of living, rather they are still growing into a better one.  The US worker, on the other hand, is in the unpleasant position of having to actually take a cut.

Wed, 10/20/2010 - 20:26 | 665687 doolittlegeorge
doolittlegeorge's picture

The fact of the matter is the Federal Government when the UAW said "obliterate us, PLEASEEEE" set the tone.  They violated all the Union contracts, gave billions to "the GM health bill" and then said "all dem sucka's lookin' for work that pays" well "ha, ha, ha...sucks to be you."  The IPO for GM will go off fine...but I will never buy car made by some fascist pig who fucks the workin' man (and woman) you WORTHLESS UAW GOVERNMENT BITCH.  You're a fuckin' schill for the Salami--UP YOUR ASS UAW UNION! Hard to imagine there even was a time when Unions fought for worker rights.  Now it's "your right to get fucked by the indolent and lazy government."  I hope there's still a real wrench swinger ready to BASH YOUR HEAD IN YOU FUCKERS.

Wed, 10/20/2010 - 20:28 | 665693 New_Meat
New_Meat's picture

or, in other terms, it is un-American to buy from GM, Chrystler, GMAC, etc.

yep.

- Ned

Wed, 10/20/2010 - 21:26 | 665800 texan2yankee
texan2yankee's picture

Since when did we deserve unlimited credit, a house that we couldn't pay for and a job that pays more than our skills are worth?  We have gone soft and lazy.  We live in the most amazing country in the world.  This article was very depressing about America and Americans.  We have freedoms only a few in the world can imagine. 

Wed, 10/20/2010 - 21:33 | 665810 Atomizer
Atomizer's picture

ZH Folks. The more you expose the disneyland onion layers of New World monetary fraud, the sooner you can restore traditional laws of the land. This is on a international community level, not just the United States of America,

Every time you hear a crisis speech, the translation is desperation mode for the globalist.

Wed, 10/20/2010 - 22:26 | 665893 Spalding_Smailes
Spalding_Smailes's picture

Atomizer~

 

You posted a link last week from a fellow you and robo follow rasputin or something like that.

You posted a link from the week the banks went by by .....that was great info could you repost.Thanks.

Wed, 10/20/2010 - 21:34 | 665814 notadouche
notadouche's picture

But Tyler I really do make interesting comments during games and I can run the New York Tankees.  They must've been wearing the cotton uniforms today.

Wed, 10/20/2010 - 21:34 | 665815 A_MacLaren
A_MacLaren's picture

OT - Possible Yen Intervention in process

Wed, 10/20/2010 - 21:44 | 665828 High Plains Drifter
High Plains Drifter's picture

http://curiouscapitalist.blogs.time.com/2010/10/19/will-the-federal-rese...

Will the Federal Reserve Cause a Civil War? Let's get down to it.  There is a job that needs to be taken care of. If not now, then when? Ohio, Neil Young

http://www.youtube.com/watch?v=OV0rAwk4lFE

Tin soldiers and Nixon coming,
We're finally on our own.
This summer I hear the drumming,
Four dead in Ohio.

Gotta get down to it
Soldiers are cutting us down
Should have been done long ago.
What if you knew her
And found her dead on the ground
How can you run when you know?

Gotta get down to it
Soldiers are cutting us down
Should have been done long ago.
What if you knew her
And found her dead on the ground
How can you run when you know?

Tin soldiers and Nixon coming,
We're finally on our own.
This summer I hear the drumming,
Four dead in Ohio.

Wed, 10/20/2010 - 22:35 | 665911 f16hoser
f16hoser's picture

This country needs an enima! Revolution! The next 20 years are gonna suck. No way around it. We're stuck in the Democratic then Republican then Democratic then Republican cycle. We're doomed!

Wed, 10/20/2010 - 22:59 | 665942 The Alarmist
The Alarmist's picture

Spin Cycle! Spin Cycle!

Wed, 10/20/2010 - 23:41 | 666011 pan-the-ist
pan-the-ist's picture

So were the idiots running against him.

Thu, 10/21/2010 - 00:30 | 666033 loup garou
loup garou's picture

It looks like some of you high-and-mighty types just might be taking jabs at less fortunate folks like me. Hey, times are tough for everybody, and you guys need to show a little empathy!

Right now I’m sitting on my fat ass on the couch, playing with my iPad, iPod, iPhone and watching a movie on the 52-inch big screen.  But, it’s a year-old couch and the movie sucks!

I’ve maxed out 14 of my credit cards so far, but luckily I still have 23 more to go. And I just got my 312th weekly unemployment check and my food stamps, so I’m loaded for bear right at this moment. But hell, I have to drive almost a half a mile to get to the all-you-can-eat buffet!

Since I haven’t had to pay the mortgage on my 5,000 sq ft McMansion for a couple years now, life has been half decent. Sure, I’ve put on a few hundred pounds, and smoke 4 packs a day, but hey, you rich folks can pick up the tab for my healthcare expenses, like liposuction and home oxygen. I know you can afford it (just like you did with my wife’s cosmetic surgery), as smart and rich and wonderful as you all are.

Maybe someday I’ll use some of my savings to go back and get my GED, when I’m not so busy. After that, I’m pretty sure that I could get a job as General Manager of the Yankees, if I wanted to take the pay cut.

So, as you can see, life’s not a bowl of cherries for anybody, including me. Shit,  I even had to sell one of my Mercedes just so I could afford decent prostitutes! But you don’t hear me bitching and moaning and bad-mouthing America, do ya? I mean, we’re all just trying to get over…um… I mean get by. And we all have our cross to bear.

At least my daughter dresses like a whore, just like I told her to…

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