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Must Watch: Stockman Explains To Ratigan How In Thirty Years America Spent Enough Debt To LBO Itself, And Ended Up Bankrupt

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Tue, 12/14/2010 - 20:22 | 806555 MR. GLASS
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Will there be tanks in the street to crush the American insurgents ?

Tue, 12/14/2010 - 20:24 | 806560 Sudden Debt
Sudden Debt's picture

I think Predators armed with 250rounds depleted uranium shells and your basic sidewinder package will do the trick to.

They use less gas, and at current prices...

Tue, 12/14/2010 - 20:43 | 806613 Ragnarok
Ragnarok's picture

Fool! The Predator's weapon of choice is the Hellfire missile. :)

Tue, 12/14/2010 - 23:30 | 806996 OldTrooper
OldTrooper's picture

Kind of messy...if you care about collateral damage, that is.

Wed, 12/15/2010 - 03:37 | 807337 Problem Is
Problem Is's picture

Makes Me Nostalgic For The 80's...
The Pretenders, cocaine drops into Mena Arkansas and an Afghan "Freedom Fighter" with a shoulder slingin' stinger missile...

Wed, 12/15/2010 - 03:41 | 807338 Lord Koos
Lord Koos's picture

Sonic cannons are the latest in non-lethal crowd control....

Tue, 12/14/2010 - 20:26 | 806565 txapela
txapela's picture

"Will there be tanks in the street to crush the American insurgents ?"

 

no. celebrities.

Tue, 12/14/2010 - 21:23 | 806727 flacon
flacon's picture

It's a bit of a problem because all the socialists will be vapourized all at once. Perhaps the Georgia Guidestones intend on doing just that - like in Ayn Rand's novel Atlas Shrugged - destroy socialism once and for all. I don't know... but it's hard to imagine how Alan Greenspan ever became a proponent of paper fiat money after all his pro-gold/Ayn Rand circle friends. 

 

Perhaps The Road To Roota (Boston Federal Reserve document) is really real.... who knows. But it's worth wondering about. 

 

Would it be so bad if all the world's socialists were inhumanely killed by their own undoing? Because that is what is about to happen. 

Tue, 12/14/2010 - 21:43 | 806793 Thomas
Thomas's picture

Stockman reads sites that are close in style and relationship to Zero Hedge. He probably reads Zero Hedge.

Wed, 12/15/2010 - 05:25 | 807387 doomandbloom
doomandbloom's picture

just for the record...i am not Stockman

Tue, 12/14/2010 - 21:54 | 806830 Thomas
Thomas's picture

delete

Tue, 12/14/2010 - 22:20 | 806886 G-R-U-N-T
G-R-U-N-T's picture

"but it's hard to imagine how Alan Greenspan ever became a proponent of paper fiat money after all his pro-gold/Ayn Rand circle friends."

Those in the shadows took Greenspan aside and gave him an offer he could not refuse...

"Would it be so bad if all the world's socialists were inhumanely killed by their own undoing? Because that is what is about to happen."

Which was the whole point of Ayn Rands message!

Parasites left to their own devises will end up annihilating themselves.

Disgusting isn't it?


Tue, 12/14/2010 - 22:25 | 806893 flacon
flacon's picture

Disgusting isn't it?

 

Interesting... yes it is disgusting, but on the other hand they have been lied to - or have they? Perhaps they get what they deserve because they were the ones who took from the future to fund for the here-and-now with BORROWED money, AT INTEREST, and at the expense of their children (or themselves - as the case is now).

 

Romans 13:8 "Owe no man any thing" .... plain and simple. 

Tue, 12/14/2010 - 22:46 | 806932 G-R-U-N-T
G-R-U-N-T's picture

 

"Romans 13:8 "Owe no man any thing" .... plain and simple."

"who lends his money without usury and does not accept a bribe against the innocent. He who does these things will never be shaken."  Psalm 15:5

 


Wed, 12/15/2010 - 03:44 | 807343 Lord Koos
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So it's socialism that has messed up this country rather than casino capitalism?  I don't know any socialist theory that has anything to do with what we see on Wall St. Unless it's socialism for the oligarchs that you're talking about.

Wed, 12/15/2010 - 08:45 | 807534 xanax
xanax's picture

Thank you, Lord Koos.  At least somebody is paying attention.

Wed, 12/15/2010 - 20:09 | 810069 BigJim
BigJim's picture

Is the US socialist? Not really, its economic system is closer to fascism - ie, corporatism.

But what's the difference between socialism and fascism? In socialism, the means of production is owned by the government. In fascism, the means of production is in private hands, but with VERY large dollops of government interference. Not much difference between the two systems, really.

So - to come back to your question... is the US socialist? No.

But it sure as hell isn't free-market capitalist.

Wed, 12/15/2010 - 06:54 | 807477 SamuelMaverick
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+1 to flacon

Tue, 12/14/2010 - 20:28 | 806569 ghostfaceinvestah
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with sound cannons.  See: Pittsburgh

 

 

Tue, 12/14/2010 - 20:36 | 806597 CrockettAlmanac.com
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What'd he say?

Tue, 12/14/2010 - 21:24 | 806730 TJW
TJW's picture

If we men every storm into the streets, they'll turn Hillary on us.

 

Be afraid. Be very afraid.

Wed, 12/15/2010 - 08:19 | 807519 boooyaaaah
boooyaaaah's picture

Tyler Interest Rates are Going UP

What about Gold

Up / Down / ----- I Say UP

What About JPM's short position

Are they the pros, you betcha

 

Tue, 12/14/2010 - 20:25 | 806563 Spitzer
Spitzer's picture

This guy is the man.

All these douche bag republicans  that want to cut taxes are clueless. The only way these clowns like Art Laugher got away with this is because interest rates where falling as they cut taxes.

Eventually some fuckin debt has to be paid down and the laugher curve is a joke in a rising rate enviroment.

Tue, 12/14/2010 - 20:40 | 806608 Dr. Acula
Dr. Acula's picture

>All these douche bag republicans  that want to cut taxes are clueless.

So you are advocating robbery? i.e. instead of people spending the money they earned, you want the government to steal it and decide how to spend it for them?

 

Tue, 12/14/2010 - 20:50 | 806633 Spitzer
Spitzer's picture

No

This is not a tax debate, this is a math debate.

The economy will not sustainably grow because of lower taxes, that game is over.

Tue, 12/14/2010 - 20:58 | 806669 sgt_doom
sgt_doom's picture

Stockman almost gets it; in point of fact America was indeed the victim of a leveraged buyout involving the banksters (both public and PE LBO firms) and hedge funds, very much financially intertwined.  One need only closely read the predatory legislation, and predatory US Supreme Court decisions, which by designed caused, or allowed, this to happen.

Who owns the vast majority of credit derivatives?  Who owns the exchanges?  Who owns the clearinghouses? 

With QE and QEII spewing more money to the banks for further proprietary trading, driving up prices and unemployment, the writing is on the wall.

Tue, 12/14/2010 - 21:08 | 806693 Dr. Acula
Dr. Acula's picture

"The economy will not sustainably grow because of lower taxes"

So you're saying robbery is justified against people if it helps the economy "sustainably grow". That's cool, now what about murder? Who should be put to death to help out your econometric formulas and make the economy "grow"?

BTW, your argument is built on a swamp. Growth is not a measurable quantity, or even a valid concept, in economic science. It is a chimera:

"The attempts to determine in money the wealth of a nation or of the whole of mankind are as childish as the mystic efforts to solve the riddles of the universe by worrying about the dimensions of the pyramid of Cheops... But what is the meaning of the items in a statement of a nation’s total wealth? What is the meaning of the computation’s final result? What must be entered into it and what is to be left outside? Is it correct or not to enclose the “value” of the country’s climate and the people’s innate abilities and acquired skill? The businessman can convert his property into money, but a nation cannot." - Ludwig von Mises, Human Action

Tue, 12/14/2010 - 22:00 | 806842 Spitzer
Spitzer's picture

I agree, taxes are billshit.

Just don't be nieve and assume that the US govt is not going broke

Tue, 12/14/2010 - 22:56 | 806949 dieskyver
dieskyver's picture

I believe he is implying that his argument is from the mathematical standpoint, not a moral one.  But from a moral standpoint, is defaulting on debt not immoral? And are the American people not responsible for that debt?  Do you think americans are just going to give all their extra cash to the cause paying debt? NO

 

IRRESPONSIBLE AMERICANS

IRRESPONSIBLE POLITICIANS 

Wed, 12/15/2010 - 08:35 | 807528 swanpoint
swanpoint's picture

[while watching a play in which Faust sells his soul to the Devil
Curly Bill: You know what I'd do? I'd take that deal 'n' crawfish, then drill that ol' Devil in the ass. What about you Juanito, what would you do? 
Johnny Ringo: I already did it. 


Wed, 12/15/2010 - 20:14 | 810084 BigJim
BigJim's picture

It won't be the American citizens who benefited from the borrowing (ie, the elites, and the very poor) who will be paying for the debt if the US doesn't default - it'll be the middle classes.

The average citizen is not responsible for what his government does. He has ABSOLUTELY no control over what it does.

Wed, 12/15/2010 - 03:47 | 807347 Lord Koos
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<Who should be put to death to help out your econometric formulas and make the economy "grow"?>

 

Iraqi citizens, obviously.

Tue, 12/14/2010 - 22:02 | 806847 Calmyourself
Calmyourself's picture

Right, we are too far down the worm-hole to pay our way out so we should raise tax rates to accomplish what exactly; redistributionist equality?

Tue, 12/14/2010 - 22:30 | 806902 NOTW777
NOTW777's picture

apparently this is why they need more tax $ - more pork fest and 2000 pg, unread bills

 

http://www.drudgereport.com/flash2n.htm

Tue, 12/14/2010 - 21:13 | 806711 Rastadamus
Rastadamus's picture

Call it what you will, robbery whatever. We going pay....

Wed, 12/15/2010 - 01:19 | 807206 dark pools of soros
dark pools of soros's picture

yes lets fight to save 3% in taxes even if we have to print another trillion and dillute the dollar by 10-20%

 

what a winner!!! we saved taxes!!!!!!

Wed, 12/15/2010 - 03:46 | 807344 Lord Koos
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Because the government had nothing to do with creating the environment that allowed you to make the money.

Tue, 12/14/2010 - 20:41 | 806609 CrockettAlmanac.com
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Yes, only foolish people protest when others insist on being bailed out for living beyond their means. I mean, I like to pay for other people's parties, I really do -- just like all good Americans.

Tue, 12/14/2010 - 20:51 | 806641 Spitzer
Spitzer's picture

what does that have to do with anything ?

Do you want the US government to default or not ?

Tue, 12/14/2010 - 21:08 | 806699 CrockettAlmanac.com
CrockettAlmanac.com's picture

It has to do with me not wanting to pay for other people's crap regardless of the consequences to them. As for me, I'll take care of myself. Ain't nobody else going to do it, you know?

Tue, 12/14/2010 - 22:02 | 806852 Spitzer
Spitzer's picture

Ok, dont pay.

Just don't expect the dollar to survive.

Wed, 12/15/2010 - 01:23 | 807212 goldsaver
goldsaver's picture

Why would anyone want it to? What you call the dollar is nothing more than a blood debt imposed on our and our children's future labor. "Dollars" are debt. If the dollar dies, a new currency would replace it. Hopefully, not based on my future labor in order to ensure banksters, politicians and thieves (but I repeat myself) can keep living beyond the value of their production.

Wed, 12/15/2010 - 02:03 | 807274 Spitzer
Spitzer's picture

it wont.

Euro/freegold is the replacement, all based on equity because interest only creates more useless paper

Tue, 12/14/2010 - 21:17 | 806720 Dr. Acula
Dr. Acula's picture

"Do you want the US government to default"

Contracts between bondholders and the US government to enslave unwilling and unwitting third parties, including the unborn, are illegitimate. Such documents are evidence of crimes. American citizens are justified in throwing off this yoke of slavery.

 

Tue, 12/14/2010 - 21:45 | 806799 Max Hunter
Max Hunter's picture

+++

I noticed spitzer is all about taxing to save us.. Not a word about cutting spending... geee

Tue, 12/14/2010 - 22:04 | 806855 Calmyourself
Calmyourself's picture

Spitzer gets our taxes in his paycheck spends it on whores.  The Gov is to o far gone to make a difference, but nevertheless, he would like your taxes.

Tue, 12/14/2010 - 23:54 | 807039 Spitzer
Spitzer's picture

I am in favour of eliminating the federal government. , don't talk to me about less spending

Tue, 12/14/2010 - 21:57 | 806836 SpykerSpeed
SpykerSpeed's picture

Beautifully written.

This former Reagan goon is being trotted out to get us prepared for "austerity", which is just another way of saying shittier government service at a higher price.  No thanks, I think I'll eat at a different restaurant.

Tue, 12/14/2010 - 22:02 | 806851 Terminus C
Terminus C's picture

I have to agree with you here.  Default is the only option... everything else is kicking the can down the road.  It should have been done in '08.  If I fuck up, I fail.  Bankers fuck up, they fail, gov't fucks up they fail.  It is the way of the free market and it is the way we need to go.

 

Tue, 12/14/2010 - 22:04 | 806856 Spitzer
Spitzer's picture

I agree.

as long as you are aware that hyperinflation is the result.

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