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need to cover this one
Illinois Insanity: State Spend $365K Taxpayer Dollars to Teach People How to Fish; Hands Out $4 Million in Free Tuition to AFSCME Public Union Workers
fishing may be a very useful skill in the near future...
sure, if only the commercial fishermen didn't destroy the supply
They cannot get thier boats that far up the navigatable river system. Flat bottoms rule in our area. I am a ocean going man myself and retain faith in the big fish, if your line is strong enough to reel em.
Now where did I leave that damn VISA to get the boat chartered and provisioned for that run?
I suggest you check this out: http://www.ted.com/talks/jeremy_jackson.html
Esp. around the 5 minute mark about sport fishing champion fish sizes, now and then.
Then come back and tell us about that faith in big fish, VISA or not.
I can see it now...everyone in Chicago previously on food stamps fishing every day for their supper along lakeshore drive.
Sure but the waters in the Illinois area are so polluted that the fish are not safe to eat.
no, it's not the debt nor is it the fish
it's the diapers
and toddlers too
sick freakin bastards. i'd have a real scene going on if that was my child.
that was completely uncalled for.
"Refuse to participate in the charade"
Can we say "Deflationary Depression"....
Only if they stop printing. My gold's on helicopter Ben and QE3.
Not barely enough private Federal Reserve Notes available in the world to cover the tremendous debt pile denominated in said FRNs.
Which is why I'm betting they'll print more. I expect falling prices measured in gold and rising prices in FRNs.
Very true. That is why they loan more "money" into existence in the form of FRNs.
Debt ceiling will be raised. Just wait.
Make that "Inflationary Depression" aka Biflation.
The Biflation meme got lots of coverage this morning in financial blogs. It's growing. Because it's real.
Caviar, you always have interesting things to say. If you would like a link to my blog send me a gmail. 130 Zh-ers (so far and counting) can't be wrong!
Nice. Yeah, I don't see why people always think that each current situation will look like something of the past. Maybe it is the desire to assume one understands something enormously complex by stamping a word on it.
Hasn't the Shadowstats guy been saying this for years now?
Beyond deflation. Is there a word for that?
Deflation= The destruction of capitol (wealth)...
Paper money is not wealth. An accounting ledger at best.
u.s. paper money was pretty good 1934 to 1945 and not bad 1985 to 2000 but yours is the way to bet it.
Wealth destruction + rising prices. The paper/digital money in existance is not eradicted by default but is now representative of a smaller economy.
flashback: 100 Years of Government vs. The Economy
Hyper-Deflation . . . . . Vall Haller
Beyond deflation. Is there a word for that?
Profligation = the destruction of an economy through .gov/banker corruption.
Does one need a better reason to hold PM's?
Shorting the market is much higher yield near term.
Burn baby burn!
Don't be a fool!!! Prepare for the end....which does not involve paper in any form except currency "in hand". Trying to profit from this tragedy is of the same moral fibre as Goldman's Timberwolf play. I expect better from this community......(except for the paid shills of course!!!!!)
Ah thats a bit more like it Jimbo. Another red faced tirade against the boomer generation has been long overdue. I had started to think you were going soft.
I guess I missed the demographic graphs. It's comforting to know that nobody under the age of 50 has a mortgage.
Well its all my fault I guess. Climate change is my fault too. And Fukushima.
Can I junk someone more than once?
Just sayin', I have a whole bunch of Gen X'ers that would say that "Yes, you are the problem".
Agree, please see my post below.
Awesome. You manned up and took responsibility. :D
Good catch. Boomers, sons of boomers and grandsons of boomers are about to go BOOM! Each generation sieged under its own debt burden.
Credit implodes because debt becomes too heavy and needs to collapse. The above graphs point to a deflationary tsunami that's dead ahead. The March 2009 to present rally was a temporary relation, a natural rally (ABC form) following a huge collapse in S&P 500.
The next leg down will be left translated and hard and fast! Debt destruction (bankruptcy, foreclosures, etc) will make credit disappear. Credit not being available, many transactions will resort to becoming cash transactions. Can you imagine the house price if mortgage credit is decimated and cash is the only transactional medium? An average American has what....$2k in the bank....can you imagine the resulting price? I believe housing will fall 90% from current levels. This will probably piss alot of people off but once house purchases become cash mediated....price compression will be like never before.
However, physical dollar bills will be hoarded and in great demand. Because, again, without credit, many transactions will become cash. Since there is only $900 billion of USD bills in circulation, you can only imagine the stampede for hoarding once deflation hits the Prechter point of plunge. So, grab all the cash you can now before its too late.
All you Gold and Silver holders....have you noticed that gold and silver move near syn to the equities? Would you consider that if you sell now, better prices could be ahead? Like MUCH better prices: GLD at $490 and Silver at $2.50
Do you realize the most transactions are credit mediated and not physical cash? So, once credit card companies elevate their requirements to get credit cards, force credit limits down ($5,000 to $500), increase interest rates, etc....more and more transactions will become cash and away from credit.
Price decrease on goods is not deflation, it is the result of deflation. So, yes, by 2016, $1 USD can probably by 10x what it does not...perhaps 20x. That means you can buy a mansion ($1 mil today) for $100k or less!
Disclosure: Long VXX, FAZ, UUP
buy SPXU and hold your breath. When you exhale, sell that MF'er.
Buy physical silver and sleep right.
I agree that SPXU is not for everyone, but with the use of stop-loses and/or option hedging it can be a very powerful shorting tool.
The only problem with the deflation thesis is that it implies the government will let it all fall down. As we have seen, they will counter every situation with some ridiculous countermeasure to insure cash availability. They also have a bad record with following their own laws - you really have to understand that they will do anything - and I do mean "anything!" That is why there was no reset in 2008.
Inflation is their best way out, it is the stealthiest form of robbery and it is how they will play it, because that is always how they play it. Inflation gives the best money to those at the top and screws everyone further from the discount window.
If there were the rule of law and honesty, I would believe in deflation - but that is not the modus of who we have running the show. Expect inflation - be it bi, stag, or some other ghastly form.
I read somewhere recently that like 50% of people polled could not come up with $2000 WITHIN ONE MONTH! Not to worry, another 25% said they probably could... Talkk about a lack of liquidity? Brutal. Zombies. Walking Dead. Whatever - that was an amazing and scary poll.
In your scenario, how is the governent paying expenses? If nobody has a lot of money, taxes must sink and the current government debt becomes unpayable.
In case of default the dollar bills will be useful to generate heat or as wallpaper.
As I've said in past posts, i believe ultimately the dollar is doomed to hyperinflation.....its coming, but we must first cross the valley of deflation because the great credit bubble unwind is fast at hand. Once this proceeds, then jump into Gold which will be at or near $490; buy up all physical assets (houses, rolex watches, valuabl art, collectibles, vintage wine, Silver coins, etc) as these will all be a pennies on the dollar.
Under the existing monetary system deflation is a myth.
Really? Just take a look at the destruction of wealth (deflation) that is occuring in the housing market. No amount of printing has helped it. Soon it will spread to ALL markets.
If borrowed money is wealth then is it a debt crisis at all? Any contraction in the money supply would lead to mass default and would kill the currency even faster than QE has.
Debt does not equal wealth. It just was thought to for the past 30 years. Yet another reason we have debt saturation.
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