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Guest Post: In A Nutshell Our Economy Is Really An Insane Asylum Run By Lunatics
Submitted by Sherman Okst of Financial Sense
In a Nutshell: Our economy is really an insane asylum run by lunatics.
Common Sense:
No problem can be fixed before a solution is formed. No solution can be
formed until the underlying problems are clearly identified.
The
officials in charge of fixing the economy have not articulated the
underlying problems. Worse, many of these officials - directly or
indirectly - created or contributed the underlying problems.
It is shear lunacy to expect that the people who screwed up the economy have any chance at fixing what they destroyed.
Identification of the Underlying Problems
Income:
Average Real Weekly Earnings, (read: incomes adjusted for inflation),
are below what what what they were in 1973. Income wise the average
American family is worse off now than they were 37 years (4 decades)
ago.
The Dollar’s Value: And it isn’t like we
have a stronger dollar now. If we did perhaps we could get buy with less
money. No, Uncle Buck is worth 95% less than he was 84 years ago when
the “Creature From Jeckyll Island” (read: the “Fed”) came into
existence.
Money is supposed to be a store of value. When you boil
economics down to it’s core you are left with one law: Supply and
demand. Increase the supply of anything and it’s value goes down. Our
monetary system is flawed because if it isn’t expanded it collapses and
when it is expanded the store of value is obliterated. The Fractional
Reserve System is another example of a moronic idea created by greedy
lunatics, It was doomed to failure upon inception. Debasing a currency
only creates an addiction to debt.
Employment: In
2008 there were about 150 million workers. Today (U3-U6) unemployment
is at 22%. The largest problem plaguing unemployment is the fact that
most of the jobs lost were jobs that were created because of consumers
binging on credit. For instance, in 2008 Americans tapped their home
equity for stupid purchases. The best example of this is from Jim
Quinn's 2008 article: Consumers borrowed $9,000,000,000.00 (9 billion)
dollars (from home equity loans) JUST to blow it on 4 dollar coffees at
Starbucks, which has since closed 900 stores. Debt to expand a business
or debt to purchase a home is sound debt for an economy. Debt to buy
expensive coffees at “Fourbucks” won’t be economically sustainable (as
proved by 900 closed stores).
We had a booming economy that was built on a foundation of sand.
Drof/Globalization: (Read:
packaging up factories and off-shoring them and the manufacturing jobs
that went with them) equated to workers here competing against some poor
individuals who make $2 bucks a day in some emerging country that has
no work rules or standards). Globalization was an asinine idea. A
blueprint for lowering standards here and raising standards there. We
can capitalize the “a” in asinine if we consider the ramifications of
high oil prices caused by Peak Oil (read: 80 - 150+ dollar a barrel
oil).
Backwards: In 1914 Henry Ford helped spur
the middle class by paying Ford workers $5 bucks a day (double what the
average wage was then). Ford increased the demand for what he was
manufacturing by creating a class of workers (read: the middle class)
who could afford his product.
Drof: Ford’s plan
spelled backwards. Drof is globalization. Removing manufacturing jobs.
Borrowing from China et al to replace the lost manufacturing surplus and
sticking the tab (read: tax bill for the deficit) on the class you are
screwing all while blasting wages backwards by four decades and
expecting to have any semblance of a strong economy is an entirely
moronic idea dreamed up by lunes.
It is absolutely insane to
think you take the blueprint for what created prosperity turn it upside
down and expect prosperity. If these lunes were architects they would
have built buildings upside down butting roofs underground and basements
at the peak of the structure.
Lunatics and we are paying for their insanity now.
Massive Government: The
government doesn’t produce anything. Government, while necessary, has
an associated cost. The larger it is the greater it’s cost. Our
government is now the largest that it has ever been. In no way, shape or
form is this efficient.
Corporatocracy: In a nutshell: Corporatocracy has replaced capitalism. I wrote about this in my last article “Why We Are Totally Finished”.
Corporatocracy has permitted corporations to influence (bribe and
control) the government which then rewarded select sectors for criminal
activity. Fraud that led to our economy blowing up. The sectors which
literally blew up the economy in 2008 was saved when they should been
left to fail. TBTF translates to not regulated correctly to begin with.
Nothing holds a gun to our head. Too big means too unregulated to be
permitted to grow too big.
Resource Scarcity: As
we approach a population of seven billion every resource from water to
oil will be taxed to it’s maximum. The driving thrust of
www.ChrisMartenson.com‘s "Crash Course" is how economies mine the earth
for resources and sell them. Growth of 2-4% per year compounds
exponentially proving the economic model of the world unsustainable.
Enron Accounting:
Really that isn’t fair, the accounting our government uses would
actually make an Enron accountant blush. Our off balance sheet
liabilities dwarf our federal debt. All together we have: 13 trillion in
public debt, 18-19 trillion if you count the GSE debt (and you should),
another 109 trillion in off balance sheet liabilities. 128 trillion
between the two.
In Short: Retro wages four decades, rob the
currency of 95% of it’s value, take thirty three million jobs away
removing as many consumers, do the exact opposite of what built this
nation’s economy, make workers work eight months to pay for a bloated
government, allow lobbyists to remove voters rights and replace
capitalism with corporatocracy, collapse the debt that people had access
to use as a bridge between what two incomes bought in and what they
need and you can forget about any economic recovery.
Fugetaboutit.
The Fix
The fix is amazingly simple: In
a nutshell our elected officials must wake up to the fact that fudging
unemployment numbers with bogus Birth Death Models, not counting U6ers
or hiring temporary enumerators doesn’t inject money into the economy
through consumer spending. Lying about GDP or keeping off balance sheet
debt doesn’t fix anything either. And relying on the lunes that created
the mess to fix the mess is even more insane.
They need to fire
those who created the mess. Pigs will fly before Larry Summers, Ben
Bernanke, or Turbo Tax Cheating Timmy Geithner fix anything and
everything they broke or failed to regulate.
Then admit we are broke:
Everyone but the nitwits on CNBS know this. We spend more than we take
in and can borrow put together. Devalue the currency with an official
bring us 10,000 old dollars and get one new dollar. All foreign,
domestic, public and private would be wiped clean.
Use our problems to create our solutions:
Create a Manhattan Project and determine how best to use our remaining
resources like oil especially and how to transition to energy
sustainability and resource sustainability. Get people like Dr. Chris
Martenson, Dr. Al Bartlett the poineers of this phenomena and put them
on the project. Bartlett was literally on the actual Manhattan Project.
Put people to work creating producing solutions here not in China or
Indonesia or India. Globalization was a failed plan modeled 180 degrees
opposite of what built our country and made it great.
Shrink government: Stop
creating entitlement programs in exchange for votes. Stop looting
Social Security, turn it into Fannie and Freddie, let renters become
buyers, let buyers pay Grandma’s Social Security - that’s how you fix
the funding gap between less workers and more retirees. Stop spending
half of our budget on the military industrial complex.
Back of
the envelope scratch: Social Security in 2009 had fifty three million
people receiving benefits. Thirty six million retirees, ten million
disabled workers and six million survivors. About 156 million people
paid Social Security taxes during the course of the year and $686
billion in benefits were paid out. There are about seventy million
primary homes. Let’s say that fifty million of them want a mortgage, and
or a HELOC. If the debt service averaged $1,500.00 a month that would
bring in $900,000,000,000.00. If they needed more for other entitlements
they could generate credit cards.
If you are going to en-debt us
when money is created than at least have that debt go to paying student
educations and or grandma’s social security. We don't need to be paying
communist China interest. We don’t need to be taxed like we are. We
spend about eight months working to pay taxes. Want more money in the
economy? Want to increase employment? Give consumers more than four
months of earnings to spend on themselves.
Both the mortgages and
the interest on consumer credit cards could be at low rates. Dismiss
the banks, they dismissed the economy in 2008. The Federal Reserve
system is a failure, responsible for the boom to bust yo-yo boom to
recession nightmares, theft of our stored value in dollars and an
unconstitutional disaster. America should not tolerate failure to make a
few people richer than God.
Can the lobbyists:
Implement term limits. Restore capitalism and democracy. Bribing
politicians is not democracy. Also, politicians need to eat what they
bake. No special retirement accounts. There are those who (Ron Paul and
Paul Ryan and the few like them excluded) can loot our pension fund with
no legal ramifications. Also, the entire election process needs to be
democratized. Politicians should only be able to blog. We need election
spending limits so we can get servants (read: not bribed whores)
elected.
Stop teaching Keynesian economics in all but two universities:
It’s wrong. Dead wrong. That is why 99.9999% of the economists didn’t
see or hear the locomotive coming. Heck, they didn’t even recognize the
train tracks. If my kid had Bernanke in Princeton for economics I’d be
on the dean’s door demanding a refund.
Change the accounting, put everything on the books: Off balance sheet accounting should have been put to death with Enron.
In Summary:
Letting lunatics run the asylum called an economy will have one result
and one result only. We will find ourselves living in a loony bin and
calling it a capitalistic democracy won’t change what it is.
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My thesis is that things are being run by dope-smoking, acid-dropping, pipe-bomb throwing ex 60's radicals or their in vitro brain addled children.
For some odd reason, your thesis sounds a lot like the country I'm living in. Have you ever heard of the United Corporate States of Amerika?
What's lunacy, is to assume they want to fix the problem.
To them, there is NO problem!
How is billions in bonuses a problem?
Would you want to correct a system that rewarded you?
Status Quo untill complete collapse!
Pladizow...
Agreed...
Article has false premis.
Perfectly put Plad....
What most people of like mind fail to understand is that evil is in the eye of the beholder. Plad makes an excellent point and I encourage everyone that reads this to clear the blood of anger from your eyes and know your enemy for they know you and will give you no quarter. Practice forcing yourself, as difficult as it may be, not to hit that mute button on cnbc. Listen to them for they know what they do and if you listen to them long enough you can hear an old man tired of lying, a young woman that believes her handlers, guests that rival Jim Jones in the art of persuasion, quick witted hacks just happy to be getting paid, federal lap dogs and worst of all the cannibals that roam the deserted floor of the NYSE looking for fresh meat that by the day is getting harder and harder to find. One day off in the background you will hear Meat is back on the menu boys!! as they devour one another.
Know your enemy
Yep and when the collapse is complete perhaps they will offer the solution of a one-world government to right the ship. The problem with a one-world government is that, if they decide to eliminate people like Hitler, there is no other country/government to oppose.
they could use some dope and acid. these hapless miscreants are indistinguishable from their equal numbers in the prior administration (some, like bernanke, are identical). they are protecting the cheese-holed status quo. clearly change you can believe in is no change at all (can't say we weren't warned, but we were deaf to irony).
Don't you guys see, it's socialism for the rich. It's no way near capitalism.
You have concisely spelled out the model of the late 1900 and early 2000 serf plantation. This is a corporately run for-profit (and exploitation) enterprise. Nothing is broken. It is running exactly as it should.
+100 trillion
The ONLY solution is to remove the Cabalistic, Communistic, Illuminati Central Bankers and their agents.
Exactumundo, and it looks like Iran is overdue for its free (cough) infrastructure upgrade (translation: razing, rebuilding, and conscription of its citizens into wage slavery). I'm sure they're thrilled. Watch: Included in the aftermath will be the imposition of a western-styled fractional-reserve ponzi within its borders.
http://www.enterprisecorruption.com/?page_id=39 (Warning: the home page is presently NSFW so exercise discernment)
Globalization = Enterprise Corruption
Enterprise corruption builds nations.
Globalization is the act of transferring one nation’s intelligence to other nations.
The costs of the technology transfer is paid for by financial corruption on a systemic, enterprise-wide scale through enterprise corruption, book-cooking, enterprise treason, and market fraud.
Enterprise corruption controls inflation and the costs of products and services.
Enterprise corruption stabilizes wages.
Sherman:
Good points but please use spelling and grammar check next time..
LS,
Totally agree, sad commentary,sad,so sad.(shear?) :>)
Well,I guess we have been sheared, just out of context.
Me, I'm Dyslexic, so....excuse me.
LOL
the lysdexic agnostic insomniac who spent all night thinking: "is there a dog?" - Ned
Doesn't always work laughing_swordfish.
Affect and effect, insure and ensure will pass spell checking but each one of each of the pairs shown mean different things.
I can remember someone 'muting' something for a subsequent meeting (should have been 'moot'). I quote happily check spellings (Cambridge Online Dictionary is good) and look on the net for grammatical usage.
Anally retentive? Don't think so, certainly hope not!
DavidC
Gee, thanks teach....
Grammar police much?
And a lot more attention to where the decimal points go.
...and color between the lines. ;)
I think the fact that the USA can't cover the vig on our debt next year makes the fix NOT so amazingly simple.
DT,
I think they will, I mean with 401k's and IRA's....sheesh, auta be Ez.
Also, you leave out the whole issue of Arrest, Detention and Punishment of those responsible, beginning with Summers Geithner and Bernanke..
...and The One.
Always thought treason was an offense...
i don't remember writing this but it sure is good.
This article plainly violates B9K9's canon: as an online discussion grows, the likelyhood of foolishly arguing that TPTB aren't aware of what they're doing approaches 1.
Thank you very much, but to be perfectly honest, I lifted it practically verbatim from Goodwin. To wit:
"As an online discussion grows longer, the probability of a comparison involving Nazis or Hitler approaches 1."
Hence:
"As an online discussion grows longer, the probability of a suggestion involving lack of awareness by the power-elite approaches 1."
And yes, this article is completely based on a set of false assumptions. Not sure why TD is still beating a dead horse; the real opportunity is to be begin exploring ways & means to help readers escape.
And to those who think Canada is going to have any chance whatsoever in repelling an army of refugees, well, I guess you've never been caught in a war or live in the American Southwest. Once you see what a literal human wave looks like, you'll come to the conclusion that it may indeed be one of the most powerful forces in nature.
Imagine a corrupt, dirt poor shit hole of a country, only 1/2 the size in population and with an avg IQ of around 85-90, successfully infiltrating and taking down the wealthiest states in the USA. Now, try and tell me that a nation of 35m is going to successfully repel, say, a refugee flow of only 5-10% of a country with over 300m residents. Um, that dog is not gonna hunt.
And for even more shits & giggles, let's assume that 5-10% has some PMs in their possession. Just like in Calif, once politicians smell a potential constituency, they'll be falling over themselves to represent the "new immigrants". And businesses? Shit, the provinces will be generating so many new taxes from the the builders who will be busy taking PMs to build shelters that they'll quickly adopt the creation of "sanctuary cities".
It has always been said that one should look to California to discern future trends. Clue. In. As. To. What. Is. Going. To. Occur.
BK,
While on your travels, you found your place and are working on the endgame aren't you?
Good for you sir. I wish you luck. Keep beating your drum, because I think you are doing a service. The shitstorm moves closer.
I have worn the mantle of "bunker nut" for quite some time now; it has become a comfortable fit.
There is never enough time, but once a person accepts that fact they begin to progress exponentially. Good luck to you.
You know, it's basically a series of coincidences that has provided me with some unique life experiences.
My dad, as I have mentioned, was a top-level intelligence MIC operative, hence the "critical asset" classification that warranted a platoon-company level staged escape for him and other analysts, linguists & codebreakers. My Ps still have the photos I took out the back of the troop carrier as we careened through a full on battle scene (complete with NATO equipped Fs coming in low, artillery pieces, tanks and all the rest), as well as the photo of me & my dad standing on the carrier deck next to the captain. (After getting tricked out with VIP helmets on the helicopter ride over from the base.)
Secondly, I'm a born & bred Californian. I've seen what has occurred first hand from the utter heights to the current (yet not bottom) lows. In my travels, there are certain places where I have seen this movie before. It's not innate prescience; it's actually just cheating. I mean, everything: infrastructure, resources, current economic composition, demographics, etc. To me, it's California when I was a kid, just when Santa Clara county was turning into Silicon Valley.
The people in power have no interest in fixing things. The goal is to grab more power, plain and simple. Stalin slept soundly when he removed grain from the Ukraine and let the farmers starve to death. We are dealing with the same ruthlessness with the totalitarian progressives.
TP,
I love it.The fact that SOME ZH folks cannot accept the facts, amazes me.
There is so much more here, that's unfathomable (in normal people's minds), it's just rejected out of hand as insane or ludicrous.
I think it really is so far beyond their ability to acccept it's that evil, they are in denial.
its all the same story since the beginning of civilization. greed at the top drives an empire slowly into the ground. the masses will revolt only when necessities become extremely difficult to afford as the gruel served is still (barely) palatable. and Cognitive Dissonance - if your reading this I stole your gruel analogy. hat tip to you.
http://www.youtube.com/watch?v=QFZgbO-O1gA&feature=related
not "totalitarian progressives"--
greedy mthrfkrs who are only interested in increasing their wealth
The two labels are not mutually exclusive.
There is nothing to fix... the system is working as designed.
Paging Cognitive Dissonance, paging Cognitive Dissonance. You are wanted in the insane asylum.
Cheers,
Pigpen
you are correct. people you take the time to present these articles, including suggestions for fixing the problems at hand, still don't get it. the power whores do not want it fixed. do you get it? do you understand?
+1
The system is functioning as designed. All of these things are features.
In the United States, neither party will "solve" this problem. Neither party will even "make it better". That time has passed, and indeed, some of the most ignorant narcissists in the universe are the ones that innately seek public office (so by design, it is unrealistic to look for any solutions from elected officials). Further, these elected officials are incapable of understanding -- doing so would undermine the point of their holding office at all (it conflicts with the world view required to run for office in the first place).
Many humans are simply unprepared for this type of understanding, that there are actually sociopaths within society. That some people actually *enjoy* watching other people suffer. That an even greater number of people don't care whether you suffer or not, but want more for themselves (money, power, whatever). That a narcissist fundamentally thinks his self is the only person, and all other shapes walking around are mere three-dimensional cartoons for the narcissist's amusement. To the narcissist (most public officials), it is inconceivable that another person exists with hopes, dreams, feelings, and free will.
People do not want to hear that at any given time, approximately 500 serial killers are at work in the United States. And, each of these 500 individuals kill humans for fun.
Evil exists. Some problems are intractable. Consequences cannot be avoided. I'm very sorry that lesson is so hard to hear.
On the bright side, the system will soon be completely removed and replaced. As individuals, we will decide in the next system that which we will accept in payment for our labor, goods, and lives.
In the meantime, all this financial speculation and back-and-forth "tennis-watching" regarding the economy and central bank brinkmanship is merely "rubber-neck gawking" at the accident scene as we all lazily stroll past.
None of us can, nor will, affect its outcome. And no, there is no prescription for solution. We may merely speculate on the timing and terms of the default (e.g., who gets screwed the most, and when), and none of us have that authority (it rests with central planners, totalitarians, and unaccountable philosopher kings known as "judges").
In this case, the enemy is (1) math, and (2) the system itself. Our cries into the night will change neither.
Well said! All we can do is prepare ourselves for the change and get ready to pick up the pieces from the explosion.
The system is functioning as designed.
Nice post, yep it's functioning how it was designed... to implode at the end of the line.
- expand
- peak
- fail to expand
- collapse
- liquidate
- choice, usually rinse and repeat
Is it really a choice though between some semblance of advancement and camel fucking/female genital mutilation? I'm thinking we keep picking usury for a reason...
It is the natural progression.
Stability leads to prosperity, leads to increased tolerance for risk, leads to leverage (e.g., more risk taking), which inevitably leads to a bust. That's the business cycle.
At face value, usary is merely the credit market. You can't stop credit. I have nothing, but if you give me this loan, I'll put it to productive use, make good on it, and pay it back. At one time that was done with a handshake so a young man with nothing could start out and feed his young family.
Fractional reserve lending is merely where the lender is borrowing money so he can lend (e.g., the lender is leveraging).
What we are currently experiencing is a grand super-cycle of this collapse (e.g., sovereign and worldwide capital market deleveraging/collapse) because we refused to permit (we suppressed) normal business cycle contractions during the last sixty years.
Oh, yeah, and because of fraud. Lots of it.
Not only that, but we do have residual after each bust... I suppose we presently face a neo dark ages of sorts... but, the vast majority of time, we get to leap frog off our previous achievements, technologies, etc.
I think a very fair question would be, given our present understanding and geopolitical environment, is it possible for us to achieve our advances without the boom/bust cycle, in any reasonable timeframe?
Pretty solid. Kudos.
Very well put and I largely agree.
I refuse to accept that we are powerless to affect the outcome, however. You may be 100% correct in your assessment, but I don't have to accept it.
It just makes me feel better.
At the local (micro) level, of course, individuals can have great effect.
However, can you *really* affect the outcome for president? At the last election, both parties put up the worst possible candidates. Both (for various reasons) are destructive and clueless morons.
Most people would have *begged* for a plumber, or bus driver, or any "normal" person for which to vote. However, that is not on the menu (you can't have that no matter what you do).
This sovereign default problem is easier: Math says the debt won't be serviced, and our monthly payment is about to run away faster than the Road Runner. Good luck catching him -- I hear A.C.M.E. has a number of great products, so you might want to check them out. Let me know if you find one that works (that would be great).
Even simpler, math tells me there's no way in hell the Treasury auctions are real now. Why aren't the auction results treated with the same "respect" as pro wrestling? Once we recognize that the government is broke and stop trying to kick the can down the road, things will change.
US energy independence is not impossible, we just aren't motivated to attain it. Take a look around, how many people commute thirty miles or more each way to work? Are you trying to tell me that's the only person in that radius who can do that job? We don't even notice this kind of absurdity any more.
When the National credit card gets cut up, we will start finding solutions and the longer we wait, the worse it will be.
+1 HAHAHAAAAA!
That's a GREAT analogy!
CD nailed it (ouch!) with this essay --
http://www.scribd.com/doc/33507389/Welcome-to-the-Insane-Asylum-Our-Collective-Psychosis
Which is highly recommended reading. Just find a comfy chair first, as it's over 100 pages long.
I get the distinct impression that your solutions are "not going to happen".
Instead, the system will be juiced up on fake money until it explodes. Smoke is already filling the room.
Just wanted to take this time to point out that the 30 year is up 17.1% YTD, and Lean Hogs are up 17.2%. I think the correlation is good enough to pronouce causation. Particularly since it's inverse to the Nikkei 225 (down 16.5% YTD), because the Japanese housewifes are willing to sell of their domestic index holdings to buy long dated US bonds, and lean pork. Gotta stay skinny, ladies!
The problem sounds like the last 150 pages of Atlas Shrugged....
"Its only until we recover!" cried Holloway.
"there is no way to recover." stated hank Rearden
"only until our policies begin to work!" cried Dr Ferris
"there's no way to make the irrational work" stated Hank Rearden
You are preaching to the converted, try convincing Washington. Personally I think we should all sit back and get comfortable for a long, bumpy ride. If Japan is anything to go by this could decades.
I'm not so sure it'll be a long process. Have you noticed that the half-life of problems re-occuring (or if you like, the length of time "solutions" work) is getting shorter and shorter? FX interventions and Fed Jawboning has less effect each time. The problems are asserting themselves, and won't be denied attention. Like a child that NEEDS to go to the toilet, a happy meal toy shaken in their face can distract for just so long.
Yes, maybe in this forum, I have no doubt that outside this forum, few people have any knowledge of what is going on. Most are financially illitarate and have been disposessed of the skills required to make critical evaluations of what they are being told. This means to me that they can be spoon fed all manner of nonsense and they will have to accept it as given. The charade can last for years, even as the economy is crashing around them and they can see it happening before their very eyes, they will accept a lie simply to avoid facing the truth and the implication of the changes that they must make. In the meantime, it will be clear that the only people getting properly fed are those handing out the food and more an more people will seek government jobs, diverting resources into further consumption etc, reinforcing the negative spiral. I mean, I point out the above to my well educated friends and they just look at me as if I have gone mad.
Brazil, here we come!
I think most people know what's going on. And most don't give a shit. It's outside the realm of their daily existence. Not everyone pays attention to the stock market and not everyone is obsessed with what is happening in government or big business. Most people of a certain age have been over this again and again and nothing much changed in their lives, then or now. They never had anything much and they really don't care what you have or don't have.
Austerity has been a reality for many Americans for a very long time.
bearb,
IMHO,
This is SO unlike Japan, it's not even on the same plane. When their issue's began, their people were in their prime earning years, and the country as a whole had a 25% savings rate.And was very wealthy.
Now, compare the two. Add to that Japan was/is still almost a hundred percent xenophobic society.We are still gaijin for the most part there.
Here we are the melting pot of the world, and everyone one and their swinging wiener, is at each others throats( Again, by design).
The problem has been with us since inception, but since '08 elections, it has been exacerbated ten fold.( designed to keep our eyes off the BALL).
DosZ, I mean that fiscally the Japanese have managed to drag the inevitable for a long period. I think that the US can do the same. The US ranks 48 in the looting through taxation world rankings with 85 "points". Obama seems intent to turn the US into France with 167 points. Plenty of room for further efficiencies.
I dont know how being Xenophobic helps.
The Japanese can continue because their debt is almost 100% owned by Japanese whereas the US debt is owned primarily by others. Being xenophobic helps, its easier to live within your own tribe than in a multi-tribal society
bb,
one difference in the european position, is that they actually get something for their 'investment', and don't pay twice or morefor the same service/need...
without arguing your general point, consider that you're comparing an apples/oranges factor in our (US) situation. we're getting it from both directions (e.g. medicare and kaiser...), and the 85 to 167 numbers are therefore not really on the same scale.
in agreement, i think we can 'muddle along' (ala mauldin) for a lot longer than most people realize. to bad we'll mis-use that buffer to make it worse, rather than soften the landing...
You're right, Japan is actually a pleasant place to live whereas vast swathes of the U.S. are third world hellholes.
Right but for one point - th U.S. hasn't been a 'melting pot' for over two decades. That pot was tipped over by the 'multicultural' bandwagon, which brought with it more throat-tearing teeth than you can shake a stick at. And, yes, it was by design - an intended consequence.
Genius -
Can the lobbyists: Implement term limits. Restore capitalism and democracy. Bribing politicians is not democracy. Also, politicians need to eat what they bake. No special retirement accounts. There are those who (Ron Paul and Paul Ryan and the few like them excluded) can loot our pension fund with no legal ramifications. Also, the entire election process needs to be democratized. Politicians should only be able to blog. We need election spending limits so we can get servants (read: not bribed whores) elected.
...until this is priority one nothing else can happen -the chain of corruption must be broken otherwise all other points are just a dream...
The solution is devaluation; elective or forced.
We got what we asked for. If it's easy, its not worth having. This is what has happened in all democracies through history (we are supposed to be a Republic). Always ends in dependence on Government, free entitlements and looking to Government to solve problems they created in the first place. People get fat, lazy, apathetic, weak, and unmotivated to change the status quo until it all falls apart (coming soon). Payback is gonna hurt more than people can begin to comprehend. The terrorist attack of 911 will pale in comparison to the terror brought by inept Godless leadership. We voted for em and have not held them to account.
"We voted for em and have not held them to account"
Ah, but when you voted, did you actually have a choice between good and bad? Or was it bad and worse?
I think I need to reduce the dosage on my cynical pills.
This has been a 100 year process. People love free stuff and charismatic promises of change. The Demopulican party has been the only choice for too long as there has been no alternative. If people really wanted change, it would have already happened via revolt.
And now the "independent" Getagrip is on the way to the filling station to get some imported oil.
I will send the Arabs as many FRN's as they will take-as they go to zero. I own gold and silver so yes, I am independent of the Reserve Bank.
Name one person in the U.S. who gets free entitlements. It's an oxymoron.
Entitlements are never free. One must pay for them - and we all do. In one way or another.
"Create a Manhattan Project"
Science is dead.
Credit is dead too. Who would we borrow from to create the project? post collapse and all...
Interesting!
I wonder if the author knows how much his policy ideas owe to Marxian thought.
"We had a booming economy that was based on a foundation of sand fraud". [ You cannot fix sand.]
How a problem is defined, or viewed, can enable its solution. Thus, problems are language-sensitive...as above.
Mis-definition sets a trap. And missing-definition is a variant of that...as in use of acronyms that are not explained [often deliberately to affect author-superiority].
You can not fix sand
You can pound it
We are
I love this site, so I'm sorry, but that can't stand unchallenged. To state the obvious, devaluing the currency and forgiving US debts = total American default. If ever there was a plan for the EOTW (no AWKI suffix required), that's it.
That on its own will wipe out every economy of the planet - before you factor in half a quadrillion of derivitives. None of us will be here to see the new glorious new order. In a world without a financial system, massively interdependant countries will risk trading flying bullets to get grain in an attempt to stop their populations dying for the want of a slice of bread.
Sherman is talking about curing the patient by blowing up the hospital.
Please understand that entertaining such juvenile nonsense by giving it column inches precludes people from referencing ZH in sensible conversation.
His solution may want-- but he has clearly identified corporate controlled govt. enabled criminal fraud as the cause-- and in that he is entirely correct.
The entire system will be reset with our guidence or not. There is no way back - only forward and there will be much pain. But like the bandaid - sometimes a firm, quick pull is preferable to a slow tear.
Personally, I don't think we will confront our problems with the necessary candor until the wheels fly off in a shower of sparks and the machinery comes to a complete halt. Then the big question will be who has the pulpit to command now obligatory new direction?
Blowing up the hospital may not be such a bad idea seeing as one of the biggest causes of death in hospitals are hospital acuired infections
EG
how long have you been enjoying ZH? (this question is not an attack)
do you ever read KD's market-ticker.org?
most folks who read this stuff and compare it to the world they really live in, and then to the world of CNBS generally conclude that the ZH/KD world is closer to reality. it is broken. the news is a facade to a back-room of lies and over-extension beyond repair.
that said, of course you are right that those actions you mention would be the end of things as we know them, but why is this possibility so juvenile? two or three years ago i would have agreed with you. now i am fully convinced that there are no other paths other than a core reset, and the few options that i might not comprehend certainly are not being taken by our fearless leaders... tic-tac-toe... nobody can win, given the corner we've painted ourselves into. inflate/default... pick one.
this is not cynicism, or perma-bearishness, or praying to blow up the hospital. it is math.
it may be a few years, but i have little doubt that the dollar will soon be just another (weak) currency, and our era will fade like rome's. only at a much accelerated rate.
and we'll muddle along. and start wars. and riot here and there... maybe a nuked city by some irate fanatics.
nothing points to stable optimistic growth and/or stability. and the math backs that direction up.
i hope i'm wrong, but the possibility/probability is anything but juvenile nonsense.
Its rather pleasant to have a polite difference of opinion with someone. Thank you.
I've been reading for about 6 months, although contributing (if you can call it that) for rather less. I reckon I have a feel for the place though.
The only point the original article made which I disagree with is on the subject of sudden default.
I suppose our differening takes are down to how we predict things would be afterwards. If you think China will look on its worthless USTs and send a telegram saying "We understand", then fine. If you think that CDSs wont obliterate other countries and global trade, then you are right in what you say.
I don't think that. I believe there would be decades of carnage, large scale starvation, disease and to-the-last-man wars. At the end of it America will be stuck in the dark ages for generations.
I thought it was juvenile because the author believes it will be the way he wants it to be; something like a infant saying "I'm going to be an astronaut whn I grow up". I can also imagine a teenager smoking pot in his room with his girlfriend and announcing to her (and the poster of Che) that he has the solution to the country's problems and all that needs to happen is for everyone to forgive global debt.
There is no magic bullet. Things will change and, as you say, likely get worse. The value of the dollar will slide and BB will send monthly emails to CFOs of various organisations saying "Please copy and paste the new larger figure below into you capital accounts".
Whatever happens, it's not going to be fun. Especially not if, as you say, a nuke goes off somewhere. Then it will be martial law everywhere forever.
ditto on the appreciation of civility.
you've clarified your point so well that i wish we were neigbors.
(i know we're not because none of mine have *any* idea what really going on. no idea at all...)
good luck on your end. i don't see much fun coming either.
Sure some of the leadership are lunatics (look at Cheney). But to pull this off it looks planned to me. One does not consistently gut one's own nation for decades on accident. If it was all accidents you would think that we would occasionally be heading in the right direction vs a constant downward trajectory.
Boils down to failed monetary policy and manipulation of credit using reserve bank interest rates to stimulate or slow the economy (vs. free market rates). Anytime prices are controlled, it end's ugly. Cheney is no fool, as his business prowess has shown. I think we are paying for a lack of attention to detail as our Gov./nation has slowly morphed into socialism.
http://everything2.com/title/ratchet+theory+of+government+growth
The system only knows one direction...
Good suggestions which actually amount to dismantling the entire system as we know it and replacing it with one that works. That won't happen until the system collapses of its own weight. Hey, that can be arranged...
Looks like another attempt to paint a "Nipple" bottom...
MaMa. MaMa.
Stimulated markets.
Short "Nipple Tops" always!
There's a special place in my heart (mouth?) for raisin smugglers!
http://www.youtube.com/watch?v=cHUUDHufeN8
Best Article I have read in a VERY long time.
I don't like this guys post.
He's essentially blaming free trade and the government for our problems, then calling for more government to fix the problems government created.
This is ridiculous.
He needs to read some Mises and Rothbard.
"Corporatocracy has permitted corporations to influence (bribe and control) the government which then rewarded select sectors for criminal activity. Fraud that led to our economy blowing up."
--Disgustingly true and far from ridiculous.
Right, but it's also far from 'free trade'.
posted twice.. sorry
This post also lost me. I paid for my house - I saved like a dog to gather capital for my retirement - I'm not a public sector idiot with a guranteed pension - my pension is my savings and he wants to deep six me by taking $10,000 old dollars and giving me $1.- FUCK him.. Come up with an idea that doesn't start by punishing the sane to give to the insane.
Bernanke openly admitted in 2002 that he wants to devalue the dollar. That will crush saves like you and I. There is an overt devaluation like Mexico did a while back, and there is the hidden devaluation like they are doing. PM's are one's only hope as far as I see it. Source for Bernanke http://kingworldnews.com/kingworldnews/Broadcast/Broadcast.html
Also check out how your dollar has been sliding since 1999
http://www.financialsense.com/sites/default/files/users/u198/Screen%20sh...
Think we're at the point now where any "new system" pretty much nixes the "old system".... gains/losses zeroed.
The other option (really, really) is your new chinese overlord shouting at you as you push a barrow of coal up the mine tracks. If we really, really get down to who owes who what.
Which is WHY a lot of folks are buying Gold and Silver!
At this juncture, I only care about how we get out of this mess... and it's looking pretty dim right now. I see no other alternative than eventual default of the dollar.
We lack a credible policy plan with timelines that "bound" this mess we are in. Unless policy change and signaling occurs... and I mean soon, we're looking at a USD default. Even a nitwit has to concede this.
...and if anyone doubts the speed that change can occur at with this event... just read Parrson's book Dying of Money to see how quick things can change when money flows start to reverse...and they didn't have robots doing the trading in those days then.
I am in awe. Absofuckinglute awe.
I am trying to figure out if its the horrific debt keeping this market afloat? The possibility of gobs of taxes and currency devaluation. Is it the gawd awful employment numbers, or the gawd awful homes sales numbers. Commodity prices alread stretched to the upper limit.
Will somebody, ANYBODY, put me some fucking knowledge about why anyone would own anything resembling a stock certificate? Does anyone actually believe that are economy is poised for a rebound, even in the next couple of years???
You've been given the signal to "hook up!", now wait for the jump light to come on and jump out of the plane and into free space! (you do have a parachute [gold, guns, beans, etc], correct?)
California is the paradigm, look at the choices for govenor, both are liars and both will cave to the public employee unions.
"The fix is amazingly simple" - I wish that was the case. Our country has been operating with an overleveraged standard of living for far too long. Even if an individual has completely lived within their means, our government created excess and debt for them. I'm not sure it is so simple to tell the public to adjust their expectations and lifestyle to an adequate lifestyle, when my generation has never lived that way nor even not what that level is.
The secret to an ever-stronger currency?
Rasputin - Wed, Aug 25, 2010 - 12:03 PM
Simply follow the "Prescription" and issue more-and-more
debt, until your total pile of obligations exceeds your GDP by
approximately two-hundred percent.
Don't believe in this magic formula?
Well, look no further than the long-term chart of the Japanese Yen below, which has been steadily climbing for:
FORTY FRIGGIN YEARS
...despite the fact that Japan has been in recesion/depression for
at least the last twenty or so, and is racking up debt like there's no
tomorrow.
(Ras Conclusion): This is why I'm now piling into U.S. Dollars. Because the U.S. is following Japan's
"Path to Permanent Prosperity via Infinite Debt".
LOL.
Image #1:
Why does the Yen keep getting stronger? I think we live in wonderland where up is down and down is up. Should I take the red pill or the blue? Does it matter?
Japan
Oh, by the way, for those bearish on California Muni Bonds...
LOL...
Place yer bet on insurance. All bets down. New shooter comin out!
Taking 4pc the hard way
Woody Allen (1935 - ), My Speech to the Graduates
Yes to the underlying problems. No to yet another huge government project yet somehow shrinking government...
And money isn't a store of value. "
Contrary to the standard textbook accounts, money is not a measure of value. There is no measure of value. Value is subjective. You could as easily measure your love for your children.
Also contrary to these accounts, money is not a store of value, although it is a valuable thing to store. There is no store of value. There is at best continuity of price."
http://www.lewrockwell.com/north/north784.html
There are 999 posts on the hyperinflation post. Who will be 1,000?
Although I agree with some of his solutions, TPTB will not allow the system to be “fundamentally transformed” for the better. They believe in regulation (regulating the non bribing companies out of existence while protecting the MEGACORPS), control and manipulation. This is a function of too strong a Central Government in charge of every facet of our lives (quoting the great one: “A government powerful enough to control your toilet controls your life). The solution is a complete collapse (bankruptcy) followed by a reorganization based on a meritocracy. If I could, lend me your ear.
Let’s amend the constitution to:
1. Establish term limits to all elected officials to 10 years retroactively. Any one that has been in congress over 10 years as of the date of ratification cannot run for another term. This will quickly drain the swamp and make it very difficult for any congress critter to gain enough power and influence to be worth the bribes.
2. Dissolve the Federal Reserve and default on all debt owed to that pit of vipers. They have fleeced us long enough, is time for it to stop.
3. Remove the ability to print money from the Federal Government. They abrogated their responsibilities 100 years ago, clearly they don’t deserve it.
4. Make fractional banking illegal. You cannot run a ponzi scheme if you can not invent money. If a lending institution does not have the market valued assets needed to loan the money they can’t create it out of thin air.
5. Repeal the Federal Income Tax and the capital gains taxes. The Federal Government should be financed by contribution from the individual States after a budget is presented to the States. The contributions should be based on the number of representatives they have in congress. If a State has a large population (Kalifornia) they will have a larger representation but also a larger obligation. This way they can’t spend money in what they do not have and cannot control the States by controlling the purse.
6. Return the Federal Government to the 18 numerated powers. Eliminate the Departments of HHS, Labor, Education, Energy, EPA, FBI, AETF, Border Protection (it should be a State function or a Department of Defense function), etc. Require a 2/3 majority of the States to declare war and deploy armed forces outside of our borders for longer than 90 days. Some events may require immediate action, but the 90 day restriction would give the States enough time to decide if the Declaration of War is warranted.
7. Return all Federal lands to the States. Exception to this would be the D.C. cesspool and military bases. Any military bases would become State leased lands.
6. The States would then create State Banks. State Banks would issue their own currency. Some States would base the currency on gold and silver, others on natural resources (oil and natural gas in Texas or timber in Oregon for example). These State Banks can make their own decisions on lending and will be used to fund State Projects. Any lending institution that desires a loan, can get it from the State Bank and pay market rates for the privilege. Mortgages and student Loans can be given from the State Banks and the interest can be used to fund State projects. Any State that gets out of hand will see their finances go down the toilet. If they decide to loan based on “Social Justice” or some other cockamamie idea, they would end up with a load of defaults and screw themselves, not the whole nation. If a State gets completely out of control by taxing and spending, the citizens can easily move to a State that better fits their needs. Government competition would build better governments. Each State would be a laboratory on economics. If a State like Kalifornia decides to build half a billion dollar schools, they do it on their dime, not on the backs of the taxpayers from the other 49. If a State decides to start devaluing their currency, the other States would start demanding payments in a better currency. The truly free market would determine exchange rates and keep States honest (as honest as possible when dealing with bureaucrats).
This can all be possible by the States calling for a constitutional convention and firing the Federal monster they created.
So, how do we collapse the system? Go John Galt. Stop playing in their playground. Reduce your consumption to the bare minimum. Place all your tangible assets in a Family Trust. Default on your unsecured debts and declare bankruptcy. Reduce your declarable income to the minimum necessary and re-learn a critical skill that can be bartered, sold on the interwebs or kept under the table. If 15-20 million illegal Mexicans can do it, so can you. Put any paper based assets in tangible assets. Gold, guns and grub. Land for farming, investing in local small business (that is a true investment) or other assets that make you money. Get out of the big city. The lifestyle is not worth the sweat of your brow to live there.
So you don’t think I’m full of shit: I am a 45yr old system developer. My skill sets would be useless in the new society. I cashed my 401K, took a one time bath on taxes and put the money in 1 year of food, arms for all my family members and PMs. I have started a small business on the weekends that can provide income under the radar. I am also going back to a trade school to learn machining so I can develop and market weapon systems for every day citizens. I am currently in the process of getting out of unsecured debt. I started 2 years ago, so the head start allows me to not declare bankruptcy for now. All my family assets are in trust. Believe me I’m lining everything up to pull that rip-cord when the moment is right.
You have to decide: Your money or your life.
+999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999
Get some N-95's and stock up on Vitamin D as well - both are cheap.
Finally! One of the most INTELLIGENT posts I've seen in a great while!
pretty much spot-on.
watching how much resistance will go up against this course of action will be interesting (e.g. 1099s on your lunch tip to the waitresses... make everyone a criminal...
because it *is* happening.
disengage.
Decent article, except for all the antitrade stuff. What you said about manufacturing jobs is the same thing agrarians were saying about farming jobs at the dawn of the Industrial Revolution. Technological advances leading to higher productivity didn't lead to an unemployed, starving nation; it led to capital being freed up to pursue manufacturing. The USA's manufacturing output is still the highest in the world, and higher than it was in the late 1960s. The difference is that it doesn't take as many men to produce the same good.
Nor was the US made rich off trade protectionism. We got rich by selling things to other nations, something that doesn't work too well when every nation is pursuing beggar-thy-neighbor protectionist policies. And Ford didn't pay workers $5 so just they could buy their own products. He paid them $5 so he could attract competent, skilled, experienced people.
The solution is, as always, simple--get the politicians' fingers out of the economy. No more corporate welfare. No more rescue of TBTF. No more Federal Reserve. No more Social Security Ponzi. But the politicians have the power, so it won't happen. The most important thing to understand in today's world is that NONE of us have the power to change a thing. America slept while the progressive ideology swept government, and it grabbed such an immense share of power, promising us free lunches in exchange for our liberty, that there is no way for the people to take it away.
Yep, the US leads. It cant look at China or any third world county for a model. It has to invent new ways of creating wealth. Which American can live on a per capita income of $3,500/ ? There is no going back to manufacturing; US cant afford it. US has to carry the leader's burden. It has to create the new path to higher prosperity. If it fails to meet the challenge, then some other society/ state will take the lead - or may be we will have the dark ages again.
Yep, the US leads. It cant look at China or any third world county for a model. It has to invent new ways of creating wealth. Which American can live on a per capita income of $3,500/ ? There is no going back to manufacturing; US cant afford it. US has to carry the leader's burden. It has to create the new path to higher prosperity. If it fails to meet the challenge, then some other society/ state will take the lead - or may be we will have the dark ages again.
The cause description is reasonable. Many of the prescriptions are populist drivel. Term limits - OK. Cut down military spending - OK. Make banks accountable -OK. Abolish central banks puppeteer role in the economy - OK. Everything else is unrealistic, or assumes the government can efficiently do things when it has proven that it cannot
I haven't seen it here yet, doesn't mean it's not.....
But, look at one of the NEW main culprits.....SCOTUS.
Allowing ALL the Corporate funding of Elections their Lil hearts can afford.
If I am not mistaken this was sublect matter a few weeks back.
Think their WILL ever be a Legit Election again?.
NO way.
Just like last night, McCollum got beat by the corrupt HCA dude, spent millions of his own money.
McCain, defeated the challenger, 21 million war chest...........this war chest shit, for encumbents should never have ever, been allowed.
Why would someone ,like McCain, at his age, want to die in the Senate?.
I mean, how long?,haven't you done enough damage already...............
War Hero, yes, go out one.............not a schill for Illegal Immigration John!
Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
November 21, 2002
Deflation: Making Sure “It” Doesn’t Happen Here
“But suppose that, despite all precautions, deflation were to take hold in the U.S. economy and, moreover, that the Fed’s policy instrument–the federal funds rate–were to fall to zero. What then?”
The conclusion that deflation is always reversible under a fiat money system follows from…the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.
We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.”
http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm
Hehehheheheh,
Most Amelicans are in the Dark, In China it's a Best Selller.
http://www.npr.org/blogs/money/2010/08/25/129422353/-goldman-sachs-conspiracy-chinese-bestseller
You had me at insane asylum & lunacy.
For the middle class, its either Synthetic Chemistry (ala Venter) or bust. Most characters are opting for going Hillbilly instead. Too bad.
I knew this has been coming for many years, so:
rule #1: anybody who does not know how to survive without money will die
rule #2: you need food for bartering and bribes
rule #3: you need strong friends, blue-collar friends
rule #4: you need skills (can you make soap? can you sew? do you know 1st aid?)
rule #5: you need tools when the entire power grid goes down
August 25, 2010, Paul Krugman, NY Times
Krugman or Paulson: Who You Gonna Bet On?" Sorry, can’t resist. That was the title of this Business Week article a few months ago. The tone made it pretty clear that if you had any sense, you’d ignore the bearded academic and go with the market wizard:
http://tinyurl.com/23edrgr
A pretty much perfect example of the pollyanna media wank that has been given uncritical airtime over the past 12 months. Like the media decides when the recession ends! - "hey guys, its ends as soon as we start talking up the government!"...
The only saving grace is that (at least as far as I can tell) the average Joe isn't buying it - all we see is the governmento-media-military complex just assuming it *will* work on some timetable they've decreed and spouting accordingly.
Honestly - all those lier soundbites about "securing the recovery" and "ensuring growth" were timetabled when the great and good met to continue the ponzi in late 2008 weren't they? It's just that now the gap between that scripted drivel and reality is starting to look a bit.... well.... wide.
Ooops..
Don't Bogart that joint my friend...
GEITHNER WARNING
http://williambanzai7.blogspot.com/2010/08/geithner-warning.html
THE CHAIRMAN
http://williambanzai7.blogspot.com/2010/08/chairman.html
THINKER
http://williambanzai7.blogspot.com/2010/08/thinker_25.html
Run, run for your lives
I agree in substance with this piece's prescriptions.
However I'd suggest that a new look at the foundations of economics is in order.
Money is unique in that it's taken on 'biological' characteristics... i.e. it can give you an erection and get you salivating.
This may seem like a trivial concern, except that 'money' is a technology... nothing wrong with that... in fact it's an essential technology... but it's not the true foundation of what you see as a nation, civilization or world.
At its purest root... a civilization is simply the 'net' of all individual and group decisions made by those within it operating within natural law and ever-changing physical conditions. Technologies are products of past decisions which then become incorporated into current physical conditions. A 'decision' is an idea + an action. (in theory that covers everything from 'let's build a pyramid for the pharoh' to deciding to hold your farts in while in public.)
If you think about it you'll realize that all you see made by mankind can be nothing else.
"Money" in this context then can be seen as an allocator of this 'social energy'...
It can be seen as a store of 'decision right's'...
This gets too long for here... and it's just in relation to some things I'm thinking about but it leads to some interesting conclusions...
NO... not that all the money (and decision capability) should be spread around evenly... but that the mechanisms of currency creation and the utility of various forms of 'investment' have become pathologies.
Money is a necessary, but inherently and inevitably imperfect technology for the representation and storage of 'social energy' (decision +action).
So then perhaps its worthwhile to consider that the root of 'social metabolism' (the actual proper study of economics) is individual and collective 'decision' mechanisms...
And that economics, while interesting and occasionally useful... is actually the study of a flawed technology... It's mistaking the map for the territory.
Decision Technologies: Currencies and the Social Contract
http://culturalengineer.blogspot.com/2010/07/decision-technologies-curre...(ALERT TIMMY, LARRY AND THE GANG IMMEDIATELY!)
I'm getting tired of the inflation/deflation debates.
to me, POWERZ and BAD BOYZ have already traded their paper empires for a total control mechanism soon to be implemented worldwide
escapists will be greeted by a missile targeted up their backside
since there is no where to run we face a spiritual dilemma and not a material one
I would like to garden and trade eagles into my old age, but I'm afraid this shit storm will surprise everyone, even the most prepared
the grim reaper is neigh, and he looks a lot like you and me
Wow, I'm really shocked that some people are now only realizing this.
If you have $14 trillion <a href="http://www.wallstreetoasis.com/blog/us-national-debt-rises-to-132-trilli...">national debt</a>, $1.5 trillion deficit, $111 trillion in unfunded liabilities and expenditures, a currency that is worthless, a $1 trillion empire, Keynesian economics, and so on, then are you shocked our economy is run by lunatics?
not lunatics.....these are the followers of HORUS , the ancient SUN GOD of EGYPT...
http://www.youtube.com/watch?v=Z-17BNU7L6g
THis is very INTERESTING:
http://www.youtube.com/watch?v=JKG59NUdn8A
there is our clue to actually who these people are...u dont have to look much further..but look at the WASHINGTON MONUMENT, STATUE OF LIBERTY ( ISIS , mother of HORUS)..an Eiffel Tower.....ancient egyptian symbols of PHALLUS
You may want to read this -
http://mondovista.com/adamscalendarx.html
Very interesting.
Occam's Razor. What would be the simplest cause for, not the economic mess itself, but the way in which the economy is being driven within the US?
One possibility is quite simple, it is: Destroy demand in the largest consuming nation on the planet, the one which conveniently hosts the reserve currency for the vast majority of international trade, in order of triggering a domino demand destruction effect across all economies. If the collapse is great enough, at a time when growth in China is over-heating, they too may be set-back several decades - maybe a century.
Rationale: Elite Longevity.
So in light of all the bail-outs, TARP and counter-intuitive actions over the last 2 years; the big question:
Is the Fed QE because;
A) It can simply do so, and it's the path of least resistance (Less riots than all-out Austerity)
B) Because it has to do so (Following protocol)
C) It want to (Hidden agenda/protocol inferred)
D) IQ's fell sharply while I was away (Eleanor Ripley)
Just a thought.
I loved this post (in spite of grammar and spell check issues). It was a bit of a rant but a good one. I actually shared this one on Facebook (rarely post on economic or political issues there because that is where I hang out with friends and family) but I thought this post just nailed it - too good not to share.
And for some reason this post reminded me of this song (lyrics below and somehow feel that we have been close to this point before - I was just too young and stupid to recognize it):
http://www.youtube.com/watch?v=7c2hSb2bVV4&feature=fvsr
Clash
Bankrobber
My Daddy was a bankrobber
But he never hurt nobody
He just loved to live that way
And he loved to steal your money
Some is rich, and some is poor
That's the way the world is
But I don't believe in lying back
Sayin' how bad your luck is
So we came to jazz it up
We never loved a shovel
Break your back to earn your pay
An' don't forget to grovel
The old man spoke up in a bar
Said I never been in prison
A lifetime serving one machine
Is ten times worse than prison
Imagine if all the boys in jail
Could get out now together
Whadda you think they'd want to say to us?
While we was being clever
Someday you'll meet your rocking chair
Cos that's where we're spinning
There's no point to wanna comb your hair
When it's grey and thinning
Run rabbit run
Strike out boys, for the hills
I can find that hole in the wall
And I know that they never will
My daddy was a bankrobber
but he never hurt anybody
he just loved to live that way
and he loved to steal your money
some is rich and some is poor
that's the way the world is
but i don't believe in lying back
and sayin' how bad your luck is
so we came to jazz it up
we never loved a shovel
break your back to earn your pay
an' don't forget to grovel
the old man spoke up in bar
said i never been in prison
a lifetime supply serving one machine
is ten times worse than prison
imagine if all the boys in jail
could get out now together
whadda you think they'd want
to say to us while we was being clever
someday you'll meet your rocking chair
'cos that's where we're spinning
there's no point to wanna comb your hair
when it's grey and thinning
run rabbit run
strike out boys for the hills
i can find that hole in the wall
and i know that they never will
Summary: The Dreams of the Progressive/Liberal/Socialist have come due. Reality will accept no checks/credit cards/IOUs!!
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