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The first thing in the morning ZH read makes me wonder? Is the confidence and faith in the Government and Media so destroyed that it can not be rebuilt? Not to say that I believe any one of the sons of bitches. Just sayin that some how some way, trust has to be re-invented.
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The former execs that ruined the company for 50 years with meritless, non-achievement, nepotistic hiring practices, have been and now are living without having to work, being paid billions, the life of Riley.
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Oh, you mean like GM did? The one time Largest Sales volume company in the world?
And looky at them, today?
Bailed out, makin' cars. (that Camaro is a Bicep and tricep on steroidz). The former execs that ruined the company for 50 years with meritless, non-achievement, nepotistic hiring practices, have been and now are living without having to work, being paid billions, the life of Riley.
I don't think you fully understand that much of American and may global industry is a Welfare program (it too, on Humongous Steroidz) for the extremely well off.
The people are the patsy at the poker table.
"If the US were a company, it’d already be in Chapter 11."
The UNITED STATES is a corporation! It was incorporated in 1871. Look it up on D&B?
The UNITED STATES has been Chapter 11 receivership since 1930. It is a banckruptcy that has been administered and serviced, but not discharged.
"More than half of all Americans (59%) receive a Government payout in one form or another."
Now let's see who gets the greatest % of the money.
Everyone is forgetting the many ways that corporates receive money from the gov. or are allowed to "use deduction".
Wake up and you'll see where the red herring happens to be.
46% deficit spending. Its not going for food stamps.
More than half of all Americans (59%) receive a Government payout in one form or another. This is not a sliver of the population… it is endemic to the system. So those who complain endlessly about Government spending need to consider they as well as half of everyone they know, likely gets some kind of assistance in the form of social security, Medicare, food stamps or what have you.
Also TARP, TALF, POMO, ZIRP, etc, etc, etc.
Your 59% is too conservative.
Ah my little kumquats, and even as the "news" about the United States filters forth in ever increasingly dire prognostications (Ya'll love the "prognosticator of prognosticators"? The lille ole groundhog from Groundhog Day? Maybe we should ask him/her about a prognostication for America's future?)
Anyways, one of the points that is being made in an attempt to jury-rig the ridicuous numbers of immigrats have been allowed in and these immigrat ruined the school system, ruined the medical system, ruined the social system, and generally made a mess that will require a generation or more to clean up. Now the point is that when addressing any/all Japan's problems, the new people in their non-infinite wisdom, continue to focus on Japan's declining (below replacement population) birth rate. But what they don't say, because they are not even as smart as a kumquat, is that Japan is an island country and is maxed out as is based on an equation of demographics combined with natural resources. Japan has focused on nuclear energy (creating the mess they are in) because they wagered against the anomalie of tsunami/earthquake creating a problem for them with their reactors. They did so because they have 126 Million People in an area the size of California. The current population of California is *they say* around 37 million people and if you have been there recently then the evidence of a population disaster is all around you. The air in Los Angeles in unbreathable. The roads are log-jammed and the last time I drove to Los Angeles it took more than four hours to go from the edge of Los Angels to Santa Monica to the hotel. So take another peak at that ratio: 37 million to 126 million. This means that Japan, and bearing in mind that much of the land of Japan (as with the entire planet) is not habitable, has three times the population that California does in the same amount of space. This has led to the impeccable manners often referenced in Japanese culture; manners that allow for a functioning, even though terribly crowded, country.
The analogy that the United States must continue to "juice" our economy with foreigners must continuously be foisted upon the people of the United States in a form of endless destruction of "all-that-we-know-is-bad; all-that-we-have-ever-done-is-bad" combined with the free loans and free benefits provided to immigrats can only lead to the assured destruction of this country, once and for all.
In order to save America, only one path can be taken. End welfare and the subsidization of the morlocks. End the immigrats and the subsequent destruction of Our Way of Life (those liberals would like to believe we are all just so nice, but you actually only find truly generous behavior in the Bible, but even the Bible...can't find the verse right now...says you must Work if you want to eat...and even the Bible does not say that once "helped", you will be "helped" again and again and again...well, the drift is there.
My belief is that it is not "game over" for America yet. We can take back the country by scouring it of illegals, birth drop babies who have no right to theft citizenship, and the subsidization of those working the system. (Have a baby once because you "made a mistake", and limited assistance will be provided. Second time, too bad, you've made your bed and your child's and holding forth the child as a form of "child terrorism" of the working Americans, ain't gonna hold up.)
It's interesting to consider that each child has a mother. Each child has a father. Most children have extended relatives. A community they belong to. Churches in their area. The Obomao slavery system would prefer that all bow to the goverment indoctrination of "all" as standing with head properly bowed, and hand out, with liberal box checked ballot in the other hand.
But as they say with the great wines, the greatness and beauty and ferocity of the grapes comes from their struggle to survive as they exert their will to live and thrive. Government handouts, as anyone who has seen the hinnies at Walmuck knows, creates, sloths, baby sloths, and extreme stupidity.
Watch Idiocracy again this weekend and ask yourself, is this the world I want for my children? Watch Dr. Zhivago again this weekend and watch the communist politicos of the Russian Revolution take away a piece of wood Yuri has brought home to warm his family; after all, it isn't His piece of wood and he has no right to be warmer than anyone else! And then listen to the redistributors demand that, as Obomao's ilk does that you "give them the wealth." Of course, he's not really talking about the truly wealthy who can flee at a moments notice; Obomas' ilk is talking about you, you being the people who have educated yourself, hit the floor at dawn to work the next sixteen hours as an entrepreneur and the "you" who hope and desire that your dreams of creating something from nothing, become real. Or if a book is more desired, this weekend can be spent reading the Nobel Prize-deserving book, Mao's Great Famine by Frank Dikkoter.
Lastly, for this weekend consider the following. Yesterday Oprah (she who loves herself oh so much cause she knows all and has wisdom to bestow) had on Tom Shadyac discussing his new movie I Am (ah leave it to Hollywood to never get beyond the "I" of everything, just saying). Shadyac has moved into a "trailer" that looks a lot like a trailer mansion (IMHO) and when Oper asked him about giving away his wealth, he squirmed a bit (again, IMHO) and didn't really answer about how much he has left...but then rich people really love to pretend, as in, if you are living in a "trailer park," no trailer should be worth more than forty thousand bucks. So this kinda reminds me of the ole flim-flam man at the county fair (IMHO, see: United States Constution) where he wants to make this movie, self-sanctifying himself and knows he can't do it living in the ole mansion but then again them Hollywood types as we know just loves to pretend and its a seeming to me, that this is just pretending to give up the "materialism". That trailer looked awful dang nice. So if Shadyac really wants to live non-materialistically, he can give it to me! Now that's "up"!
God Bless Donald Trump for asking honest questions and wanting honest answers. We didn't use to allow for hemming, hawing, and hedging in this country.
There is no god you douche...
If there is no God, then there is no transcendant standard of right and wrong. If there is no standard of right and wrong, one is free to choose to set one's own standards. All standards are therefore equally valid.
See any problem there?
So you need a big man in the sky to tell you what is right and wrong, and punish you for your transgressions?
There are no atheists in a foxhole, comrade.
So say those who have never been in one themselves.
Guess those PAVN and Vietcong were all good god-fearin' religious folks.
Morlocks? How fantastically racist of you? While I agree that the problem with immigration reform (or rather, the lack of it, or the lack of enforcement, or the lack of public pressure on politicos to actually enforce the laws that they swore an oath to do so, etc), there's really no need to spew your prettily-worded racism here. Sane and civil discourse for an insane and uncivilized world!
Thanks for another onerous advertisement disguised as information, Phoenix! Why not do everyone a favor and strike up a deal with ZH to have a banner or the like on the site instead of using generalist-alarmist information that's already been hashed out a thousand times on the site?
Tyler already does you the favor of separating his articles from outsiders' - note that this article and similar do not have his picture for an icon...his trademark assures quality!
I think the zim note should be the reserve currency......wait, it already is! lol. nevermind
maybe the us is the smartest country in a world of limited resources. if it werent the Us it wouuld be some other lsuper powerl with reserve currency status printing it's way like a mad man. rest of the world suffers alittle more and when the end game finally does arrve its default time. just like the max out your credit cards buy gold and silver crowd. after default they still win. debt jubilee on a national basis. "you dont want to sell us your oil anymore mr Libya?". "yes I know we owe youu billions in debt that we walked away from. you see we were creating fake money but it afforded us the ability to build this army thats about to wipe your ass out and take ylyour" resources" . this world belongs to humans not humans from a certain country. like most animalliving in a resource scarce environment only the strong survive.
The Bernanke eats shit.
Also some of the gainfully employed are merely directly or indirectly paid with tax revenue. Our true productive base is smaller than it appears.
the reserve currency credit was choice :(
The Germans got the ball rolling on this '39-'45, indirectly creating Pax Americana Imperium Rex. Also, thanks for giving Lenin a nice headstart. Please don't retort by saying, "aww, if only you'd let us have our liebensraum/genocide, you wouldn't HAVE to go to war with us...." Enjoy colonization by the Moooslims, ol' sport.....
All US debt problems could be solved by halving the 1.2 trillion per year money allocated for "defence". The US could still claim to be #1 and the gap to #2 would be only 400 million. We didn't ask you to be the world's policeman and by all accounts you are starting to realize you don't want the job. Everyone wins then.
Agreed, bring all troops home from around the world we(USA) are in so many places it's hard to keep track, but officially USA has 370,000( I believe more) boots on the ground in other countries. 133,000.00 in Iraq, 66,000 in Germany(what da hell we still doing in Germany!!??) 53,000 in Japan 31,000 in Korea(can't the south koreans handle the North Koreans on their own?) 25,000 in Kuwait, 20,000 in Afghanistan 11500 in Italy 10,000 in England.......I could go on but damn this is fucked...sorry I never cuss...this just makes me angry
George Bush(the son) back in 2000 during his campaign in Boston, MA said in a debate that he would not use the USA military as the world's policeman......... sure george sure!! I almost believed you!...now Obama is continuing your tradition.
Dude, US defence spending is so not the problem. It is a pain in the ass, but it is hardly the problem. Besides, it keeps sociopaths off the streets in the civilised world. I will let you be the judge of who those sociopaths are.
Cutting 100 billion per year from the Pentagon's budget alone would pay for every "entitlement" program the government runs. Cutting 500 billion would allow your society to continue instead of running it into the ditch like is currently happening. Please open your eyes America, it's nearly too late already.
Entitlement spending creates even more sociopaths who roam the streets back home creating havoc and destruction back home. The defence budget sends the current crop of sociopaths we have abroad where they can wreak havoc and destruction at someone else's expense. I'd rather have the latter.
That says an earfull.
Can you provide the actual CBO link?
January 2011 Current budget Projections: Selected tables from cbo's budget and economic outlook, table 3-3 ' CBO Baseline Projections of Mandatory Outlays
Also Table 1-4 ' CBO's Baseline Budget Projections, both are actual 2010 figures.
If I remember correctly, both can be found by searching for US Budget 2011 and going to the summary tables.
and again i propose, this is the fruition of deficits dont matter reaganomics. the end game is the wholesale liquidation of the public wealth at yesterdays prices with tomorrows inflated dollars.
how simple, how profitable.................
Based on the CBO numbers, Program spending for 2010 was as follows, SS-701B, Medicare-520B, Medicaid-273B Other-17B Income Security (SNAP, Unemployment, etc) 438B, Fed & Civi Retirement 139B, Veterans 58B for a total outlay of 2.146 Trillion dollars with Total Revenues in 2010 of 2.163 Trillion. 80% of that revenue came from two sources about equally, Individual Income Taxes and Social Insurance Taxes. The other 20% came equally from Corporate Income taxes and "Other Revenues".
Yeah, we crossed the event horizon
the entire money system and economy is entirely
finance and government and fed dependent. not
50 % or 75% but 100 %. baked in the cake. it is
the system. 100%. your either in or your out.
footnote: the system is suffering certain mathematical
failure for the in and the out alike and it will seem/be
a bigger tragedy for those in rather than out. the out have
already seen the tragedy. their eyes have been open.
the in are just trying to get out in style.
I see most of these comments as arguing about the condition of the field, the uniforms, attendance, etc., but the primary component that is bringing the game to an end is a simple one, the Fed 100 year charter is up shortly. They are the system, 100%.
Sadly you are correct, some can see it, some can't. Normal? Bias? Heck, who cares, it is reality and it is relative. When I asked my doctor what the odds of it being cancerous were, he said if it is you . . . . . 100%
The FED, whoever that is, wants a new lifetime global charter, who's gonna stop 'em?
silver and me,
myself and aye.
It always has and always will be the same bs: pretend we are serious about budgets while spending more in order to extend the current power structure. Any cuts will be superficial while the dollar continues to lose value (slowly they hope) while services are decreased and taxes increased: all inching us closer to 3rd world status. But their thinking seems to be: who is going to stand up to the biggest bully on the planet when they have the reserve currency, the only major military, complete control of anyone's bank account and a large percentage of people on the govt's payroll. Anyone know of a more perfect plan?!!!
Retired households are not supposed to add to the income growth.
Taking them out will make the figures look "better."i am still looking for the statistics to support the statement of household income growth.
I see your point and agree with the implications vis a vis the numbers, though I think I still disagree with the premise that retired people are not contributing to income growth ... I would expect some earnings to accrue due to returns on investments.
Comrade President Obama will save us, comrades!
Chairman Ben's glasnost conference will be the charm offense of the current five year plan's Great Leap Forward!!
You see the logic which will be foisted upon the American people. "We can no longer afford your entitlement programs."
The game will only be over when we can't even afford the interest payments, and not a second before. By then most of wealth of the entire world will be in the hands of the few. Starve the Beast results in the creation of a brand new Beast, much uglier than the last.
The oligarchs (and there are quite a few of them) are a mere distraction. You could expropriate the wealth of the oligarchs and have enough to run the machine for less than a year.
The real problem are the party-bureaucracy-apparatchiks who have turned wealth-transfer into an industry. The oligarchs are on the receiving end of some of this, but you cannot escape the fact that the lowest 45% of the populace derive their "income" from transfer payments like the EITC , SNAP, or purer forms of welfare.
Oligarchs plus the teeming masses at the bottom together exeed 50% of the populace ... The tipping point has indeed been reached.
"but you cannot escape the fact that the lowest 45% of the populace derive their "income" from transfer payments like the EITC , SNAP, or purer forms of welfare."
Links to the facts please!
Are you saying that the lowest 45% live exclusively off transfer income?
I'm just a simple financial analyst who has toiled through income and tax statistics at the IRS and other governmental websites. You are free to do your own research and reach your own conclusions, especially since you will not pay me for my efforts. Speaks volumes about you.
Now, where are the references to "facts" when it is asserted that I don't pay enough in taxes? Why do I have to justify conclusions while the looters who would live off my efforts have no compunction about tossing about bald-faced rhetoric without a care for the truth?
Settle down man...I wasn't implying any political commentary. Your statement just seemed a little over the top so I was asking for clarification.
From a simple glance of the tax charts I see that most of the 45% show some wage income. I would assume that transfer income supplements a wage income. It would be nice too know the net value to working income of this transfer.
Whatever the numbers are, it is certain that the debt is in orbit, stands to get MUCH worse, and that the klepto-elite are encountering very little opposition.
The game will fail, and fail hard. The question is, "what comes next?"
And if the circus-watchers don't break out of their trance, the kleptos will just regroup and broadcast even faster flashing images. All will be fine. (At least so far as the TV addicts know.)
In simple terms : the Oligarchy has created a global economic system where :
Total assets of Oligarchs in DM (dev mrkts) : 40 trillion USD
Total assets of Main Street DM (essentially Baby boomers pension funds) : 50 trillion USD
Total liabilities of world economies (accumulated debt govt. + private banks) : 15 trillion USA+ 15 trillion EU + 10 trillion EM.
The current assets fuel the liquidities slushing around the world feeding the debt machine trying to make a quick buck on speculative short term market plays that further destroy Public sector Plus banking sector REAL economy through domino effects.
So now the only way to keep this Ponzi going, where the Oligarchy assets will increase at the expense of main street, is to oblige the Developed World government sectors to print away devalued money; creating no real economic riches which continue to buy back private banking bad debts.
Thus transferring with each monetary QE type cycle more private run-away, leveraged debt to public sector; while corresponding profits end up in pockets of the Oligarchy in off shore accounts.
Thus ALL we shall see in future, if this scheme of things continue, is :
a) The future entitlement creation will be obliterated by the central governments starving main street to bare bones.
b) Then the accumulated wad of hard earned boomer's pension funds (40T) will be eaten away by the ongoing DM debt creation into the 2020's to feed the international Ponzi. Until no pension funds are left in DM.
By then, we will either have WW3 or a social revolution in DM...Keeping in mind that this is an oversimplified scenario whose aim is to highlight the total abyssal lack of government due diligence as they are the paid slaves of the Oligarchy having sold Main street down the river on the false premise that the people of the developed world are living beyond their means since forty years. In fact, it is the Oligarchy's global play, since Reaganomics+ International labour arbitraging days, 1984-2008, that has started the ball rolling. Where the EM are the NEW EL-DORADO of the Oligarchs and the DM their old hunting grounds, now fast becoming the decrepit ghettos of the new Apache nations of globalization.
well said goddamn it.
Deflation is exactly what's needed for a recovery. Capital must get back into the hands of those that can actually do something with it.
i predict deflation not inflation ...Benny cannot print enough Benny Beans fast enough to keep up with the imploding debt mountain created by the retail banks over the past 20 years ...inflation has almost peaked and will be over soon enough... we'll probably miss it and want it back when we see what deflation does!
Benny cannot print enough Benny Beans fast enough to keep up with the imploding debt mountain created by the retail banks over the past 20 years ...
It is just as easy to print $100 (or $1,000 or $1,000,000 or $1,000,000,000) bills as it is to print $1 bills. Actually now, the Fed can create money simply by typing numbers into a computer.
But unfortunately, the Fed cannot print purchasing power.
I really want you to be right ZeroGov. I am 4 years out of school. Just sold my startup business and am sitting on ~$600,000 in cash. I know that is peanuts to most of you, but it is everything I have in the world. If I knew for sure we were going to see deflation I would sit tight and wait for the buying opportunities. Deflation would be a godsend for me. But it seems like there's an equally good chance it will be near worthless in a year. I'm paralyzed with indecision.
I have been reading Mish Shedlock for about a year and half now. It seems even he is not as big on deflation anymore. I just don't see how a strong dollar happens from here. What is the driving force?
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