This page has been archived and commenting is disabled.

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

Tyler Durden's picture


After recently debunking the economic "recovery's" flagrantly misrepresented employment data, the OMB's David Stockman makes a third appearance in as many months (previously here and here), this time on Dylan Ratigan. And as always, it is a must see: key soundbite: "We have had a Fed engineered serial bubble, that has created the appearance of wealth, that has caused people to consume beyond their means through borrowing, and that has flushed the income and wealth of our society up to the top, as a result of the Fed turning the financial markets into a casino. These are pure casinos, they are not capital markets, they are not adding to the productive capacity of our economy, they simply are a bunch of robots trading with each other by the millisecond as a result of the Fed giving them zero cost overnight money, and giving them all kinds of hand signals on what to front-run." It is almost as if Stockman reads Zero Hedge... And he continues: "The Fed is destroying prosperity by funding demand that we can't support with earnings and productions, causing massive current accounts deficits and the flow of funds overseas and the build up in China, OPEC and Korea of massive dollar reserves which is a totally unsustainable, unsupportable system, and we are coming near the edge of where that can continue to remain stable." Ironically, Stockman is spot one when he notes that America incurred enough debt to have effectively LBOed itself. The net result, as every PE principal knows all too well, is a husk of an entity, whose most valuable assets have been bled dry. At this point, the last straw for America will be the inevitable rise in interest rates (at some point over the next five years, the Fed and Treasury will have to sell a combined $5 trillion in debt - that alone will destroy the supply/demand equilibrium and send rates surging) which will result in either debt repudiation or outright bankruptcy. The only good outcome is that the great experiment of LBOing America by the kleptocratic elite is coming to its sad conclusion.

Some other facts:

  • In 2000, there were 72 million middle-class jobs: manufacturing, construction, FIRE, transportation, etc; today, there are 65 million jobs, we have lost 10% of our middle class supporting jobs. We have replaced these with part-time jobs.
  • In 1981 the national debt was $1 trillion. Today, it is $14 trillion. The economy in the same period is 3.5-4 times bigger, the national debt is 14 times bigger.
  • Booby-trapping the 2012 election with a the latest set of tax-cuts that expire just days ahead, will panic the White House into doing the wrong decision for the economy once again in another political trade off that delays the inevitable collapse.

Full clip:


Visit for breaking news, world news, and news about the economy


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 12/14/2010 - 20:22 | 806555 MR. GLASS
MR. GLASS's picture

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


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
Lord Koos's picture

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
SamuelMaverick's picture

+1 to flacon

Tue, 12/14/2010 - 20:28 | 806569 ghostfaceinvestah
ghostfaceinvestah's picture

with sound cannons.  See: Pittsburgh



Tue, 12/14/2010 - 20:36 | 806597's picture

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


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




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
Lord Koos's picture

<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

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
Lord Koos's picture

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's picture

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'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.

Tue, 12/14/2010 - 22:50 | 806937 traderjoe
traderjoe's picture

I don't think people are getting Spitzer here. He's right - it is a math problem. We are spending more AND taxing less in this budget 'compromise'. Lower tax rates won't bring growth. As he said - it's a problem with the math. 

That being said, austerity is the final noose the banksters will offer us to steal the last morsels on the table. Higher taxes, lower spending, more theft from the middle class. 

The only silver lining for me in this budget 'compromise' was that it hastens the end game. Defaults will happen. Hyperinflation will come. While I don't look forward to it, I consider it inevitable at this point. There is no taxation or spending cuts that will turn this ship around. We have passed the event horizon. Let's get it over with already...while there is a shred of the American spirit still left...

Wed, 12/15/2010 - 02:06 | 807278 The Navigator
The Navigator's picture

I agree, we have passed the event horizon and lets get it over.

Anyone who has spent a minimal amount of time on ZH should know that Hyperinflation or some other outcome is not far off and should be well stocked with PM, food, alternative energy, bug-out plans, ammo, etc.

Even with all the planning and stocking, it may not easy going,... but this kicking the can down the road is the shits.

Wed, 12/15/2010 - 00:01 | 807052 LeBalance
LeBalance's picture

You say the contracts entered into "unwillingly" and "unwittingly" are illegimate.  If some one puts a piece of paper in front of you and says: "Please register the birth of your son." And you do, who exactly is unwitting?  You just signed your son into slavery.

You register your car, same thing.  Your house title, same thing.

Every single time you react positively anywhere to the question: "Are you a US citizen?"  You reaffirm the enslavement. But it is voluntary, so its actually not enslavement, its a voluntary experience.  Funny, eh?

Is it not time to learn what the words are that are coming out of your mouth?  Otherwise, you are illiterate and can be treated as a dependent idiot of the system.  Their ward, in reality.

This is basically a call to step up to the challenge and learn, who you are, where you are, and how to go about living.  Because no one is going to supply you with even a clue that everything they supplied to you as a child was to keep you as a child until you sleep long.

Most people just want to say: "I have rights. I deserve X, Y, and Z."

Few want to look into the mirror and see "who, when, where, and how"  it is too painful.

The only crime the elite are guilty of is too much patience with a bunch of low-life convicts. I know I am one as well.

Wed, 12/15/2010 - 00:24 | 807107 weinerdog43
weinerdog43's picture

...including the unborn...

You mean fetus?  

Wed, 12/15/2010 - 01:01 | 807174 Uncle Remus
Uncle Remus's picture

I think he means pre-twinkle

Tue, 12/14/2010 - 21:31 | 806743 CH1
CH1's picture

YES! Default is:

a. The only honest solution. (They ARE broke.)
b. The only way to stop thieving from the innocent.

Tue, 12/14/2010 - 22:49 | 806928 TheGreatPonzi
TheGreatPonzi's picture

I've a question for deflationists: do you expect the US dollar to survive after the US government defaults?

If not, do you believe in the plausibility of a default of the US government?

If not, how do you think the US government will manage to pay its debt in a deflationary environment?

As Spitzer said, the dollar cannot survive a US gov default. This would be nonsense. Just as the original Argentinian peso had to be devalued, and thus died.

That's why I can't understand people who don't buy PMs right now. They seem to underestimate the gravity of the crisis and seem to think the US gov can survive deflation.

Tue, 12/14/2010 - 20:45 | 806623 Edmon Plume
Edmon Plume's picture

No worries, all those green shoots will buy cush jobs for citizens, who will then be OK with a 100% tax rate.  Of course, that still won't fix the debt problem - not even close, so we could just print some more money.  Yipee!

Tue, 12/14/2010 - 20:29 | 806573 I think I need ...
I think I need to buy a gun's picture

5 more years? This thing is coming to a head in the next 6 months......I see alot of darkness ahead with a big shine in the darkness which is gold.

Tue, 12/14/2010 - 20:35 | 806583 MR. GLASS
MR. GLASS's picture

My thoughts exactly. Thinking of joining the local Community Board so I can be a key player when tribal warlords take over my town

Tue, 12/14/2010 - 20:50 | 806621 hedgeless_horseman
hedgeless_horseman's picture

hedgeless_horseman's first rule of politics is to be on a first-name basis with your sheriff.  Even a $100 donation makes a difference to a sheriff's campaign. 

The bribe-takers in DC can all go fuck themselves.  Term-limits are too good for them.

Tue, 12/14/2010 - 20:51 | 806639 RobD
RobD's picture

The local deputy sheriff is a good friend and I have plenty of .40 S&W to give him if he needs any.

Tue, 12/14/2010 - 21:38 | 806767 RobD
RobD's picture

What's with the junk? Care to explain?

Tue, 12/14/2010 - 22:10 | 806869 Impotent_Smurf
Impotent_Smurf's picture

I didnt junk you for the first one, but I gladly did it for your second. Calling attention to your self righteous, pig ass kissing because someone didnt like it...guilty of junk, douchebag. Fuck you and your deputy friend.

Tue, 12/14/2010 - 22:21 | 806878 Red Neck Repugnicant
Red Neck Repugnicant's picture

Well, I didn't junk you.  I never junk anyone.

But to answer your question...

There is a reasonable possibility that you're being junked because your post is pure Gunsmoke douche bagginess....or Gunsmoke douchebagworthy...or...whatever - you get the point.  

(I'm not entirely certain of the linguistics on that adjective-noun pairing.)  

I'm not sure, but that might be it.

Maybe it's Gunsmoke, in the spirit of bags of douche. Gunsmoke-spirited douche bags. 


I dunno...

Such a puzzle...


Wed, 12/15/2010 - 00:28 | 807114 weinerdog43
weinerdog43's picture

Sure, you're fascist scum and I'll be happy to put my 9mm in your head too. 

Tue, 12/14/2010 - 21:39 | 806772 badrhino
badrhino's picture

Bingo.  First name basis.  I ran the local sheriff's last campaign, and I contributed to the sheriff in the next county over.

Wed, 12/15/2010 - 03:54 | 807350 Lord Koos
Lord Koos's picture

So when you give the sherrif $100 that's not the same thing as giving money to a congressman?

Wed, 12/15/2010 - 10:49 | 807834 hedgeless_horseman
hedgeless_horseman's picture

It is a matter of ROI, mostly. 

Wed, 12/15/2010 - 13:48 | 808522 velobabe
velobabe's picture

that was hunter's philosophy, as well.

but he knew his entire full name, HST.

Tue, 12/14/2010 - 20:33 | 806575 Racer
Racer's picture

“Well, people when I say that look at me and say, ‘What are you talking about? You’re telling me we have to go spend money to keep from going bankrupt?’” Vice President Joe Biden said. “The answer is yes, I’m telling you.”

16 July 2009

Tue, 12/14/2010 - 21:11 | 806578 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The world economy is dunnzo.  I think Asia will sacrifice their economy (Japanese Businness sentiment at 2 year low) if that means to keep buying gold at this price; that is the importance of gold.

Anyone wanna fight?

The House Bank's Proxies:

Tue, 12/14/2010 - 21:19 | 806718 Red Neck Repugnicant
Red Neck Repugnicant's picture

Mr Hendrix

For some very peculiar reason, last night you (among others, but you were truly the emcee) were proclaiming victory against JPM, as if you had been fighting a long, tireless battle reminiscent of a David and Goliath scenario.  I'm not sure of the mechanics of this, but JPM had been defeated by the comments section of a blog, or so it seemed. You (and all of you) were all but toasting yourselves now that your "battle" had finally been won. Your mood was a festive one, complete with images of dancing, drinking and merrymaking. Finally, after so much time, the world was really going to end....  Yipee!!  

In the next breath, you were predicting that the US dollar would totally collapse by Friday, and silver was going go parabolic (20 cents or more, I guess).  

Out of curiosity, are you still predicting a total evisceration of the financial system in 3 days? If so, what sort of paperwork must one have completed to prepare for this event? Will there be rampant cannibalism?  How do I prevent someone from snatching my arm in the middle of the night and eating it?

Any clarity you can provide on this matter would be warmly appreciated. So many questions, yet so few answers....   Life is such a puzzle. 

God bless, and God bless the USA. 


Tue, 12/14/2010 - 21:25 | 806726 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I understand you.  The war is not over.

No.  The system will limp onwards.  Interestingly it appears I read you more often than you read me; I do read your nonsense wished to be funny but derogitory slander you pass as judements of us on this site.  As if you have read me over the last year I have posted on this site, you would know that my timeframe for total collapse of the financial system is around 1 and a half years away (although I always give the possibility of a black swan event occuring along the way).  Last night I called for a move to 76 on the dxy by friday, hardly the end of the system.  Then I said the move to 66 would be sudden, by a month or so.  And if you really care, please show which quote you refer to.

PS Obama is a coward.

Tue, 12/14/2010 - 21:54 | 806831 Red Neck Repugnicant
Red Neck Repugnicant's picture

Well, that's just not quite correct.  Here is your post from yesterday:

This news is the sun on the vamps face.  Shorting silver was THE ONLY THING HOLDING THE DOLLAR UP.  The dollar is done.  Move to dxy 78 tomorrow, 77 by Wednesday, and by Friday the bottom falls out.  DXY 66 within weeks.  The game is over.

It is readily apparent that you are predicting Friday (the bottom falls out) will be a day of total chaos for the financial system. To be fair, Friday is still a few days away, but the movements in the DXY in the past 24 hours are moving in the opposite direction that you have predicted.  In fact, in the past 2 hours, the DXY looks as though it is trying to jump out of its pants.

It is one thing to make an incorrect prediction.  I can understand a few bad calls.  Missed the quarter by a penny?  No problem, I understand. But to call for a total collapse of the US dollar in three days, thereby calling for a thorough evisceration of the financial system is a incredibly dramatic and bold prediction.

That is one fuck of a swing....and one hell of a miss. A really big, fucking miss.  

Don't take this the wrong way, but I'd sooner trust a drunk, legless Mexican standing on his head, swinging a bat using nothing more than scotch tape and his orthopedic leg replacements to have a better shot nailing a pinata, than you nailing market movements.   

Tue, 12/14/2010 - 22:16 | 806881 Calmyourself
Calmyourself's picture

Once again before you regale us with your Monday morning quarterbacking have you found Bammys transcripts yet or perhaps anything he wrote at university? Relevancy to the current thread?  Your denigration of anyone who disagrees with your virulent leftism must carry a high standard.  So explain why you are the standard bearer of the affirmative action dunce bammy?

Tue, 12/14/2010 - 22:31 | 806904 Calmyourself
Calmyourself's picture

Never an answer, always the junk, ha..  My voice crying out in the wilderness..

Wed, 12/15/2010 - 00:29 | 807118 weinerdog43
weinerdog43's picture

No, your voice is calling out from the dog dish. 

Wed, 12/15/2010 - 01:04 | 807177 Uncle Remus
Uncle Remus's picture


Tue, 12/14/2010 - 22:36 | 806910 sharkbait
sharkbait's picture

Obama, the poster child for the risks of affirmative action.  He actually believes he is smart!  What a laugh, well it would be if his finger wasn't on "the" button and so many other buttons that can make us all miserable for decades.

Wed, 12/15/2010 - 01:05 | 807179 Uncle Remus
Uncle Remus's picture


Tue, 12/14/2010 - 22:38 | 806913 Red Neck Repugnicant
Red Neck Repugnicant's picture


I took 10mg of Ritalin, then attempted another reading of your post, and I still can't decipher what the fuck you are talking about. I've never supported Obama, and I'm not a Democrat.  

Gateway Educational Products - the company that brought Hooked On Phonics to classrooms everywhere- has a new product this holiday season:  Hooked on Coherence.

Order yours today. 

By the way, I didn't junk you.  I never junk anyone. 

Tue, 12/14/2010 - 22:46 | 806933 Calmyourself
Calmyourself's picture

Your insults are over the top, you employ ten words when one is better you have to be a demonrat.  Besides I have been reading you consistently, like every leftist you change stripes when convenient.  I could care less if you junked me, your sensitivity to the slight tells me more about you..

Tue, 12/14/2010 - 23:17 | 806976 Red Neck Repugnicant
Red Neck Repugnicant's picture

You only posted three sentences, and all three of them are beyond confusing. Perhaps my Ritalin hasn't kicked in yet, but what the fuck do these sentences mean:

you employ ten words when one is better you have to be a demonrat

Ironically, it seems you may have a few words missing there.  Secondly, are Republicans known for brevity, while Democrats aren't.  Very confusing. 

your sensitivity to the slight tells me more about you..

The only thing more confusing than your first sentence, is this second sentence.  From a purely linguistics point of view, this makes no sense. Are you using some obscure metaphor that I'm unaware of?  Please help. 

like every leftist you change stripes when convenient

I've repeatedly said that I'm not a Democrat, nor am I aware that Democrats change stripes, or convert from one party to the other, or whatever the fuck you're saying. Personally, I think all politicians are greedy pigs and they're all hypocritical.  Changing stripes is what your wife does when you enter the room wearing a jock strap and holding candles - suddenly she morphs into the wallpaper.    



Wed, 12/15/2010 - 10:51 | 807840 Calmyourself
Calmyourself's picture

 Your moniker says much about you as do your past statements yet you state "I'm not a Democrat" as if thrusting it out like a shield to retain some semblance of relevance.  No one here truly cares..  Your apologies for junking or not junking show just how sensitive you are to those impersonal insults.  I will say your posts have less of the dramatic than they used too.  Perhaps all those insults (junks) have weighed you down a bit, tied an anchor to your belligerent rhetoric..  Find bammys grades yet?

I want to hear a plan out of you, you consistently degrade those who would prudently plan ahead for their families, what is your plan?  Supplication to the paper powers you worship perhaps.

Wed, 12/15/2010 - 00:31 | 807120 weinerdog43
weinerdog43's picture

Here's a comment a fuckwit like you can shit republic.

Wed, 12/15/2010 - 01:00 | 807159 Red Neck Repugnicant
Red Neck Repugnicant's picture


Wed, 12/15/2010 - 02:00 | 807271 Rusty Shorts
Rusty Shorts's picture

Do you see any anomalies here?

  0:41 - 0:46


  1:19 - 1:23

Wed, 12/15/2010 - 04:43 | 807367 CD
CD's picture

Saw the guy walking (awkwardly) backwards in the first segment. Was it the same effect in the second? Or are you talking about 2 people lifting what appears to be a 12-foot steel I-beam by hand?

All of the movements in the video are oddly disjointed, like much if not all of it was filmed in reverse.

Wed, 12/15/2010 - 05:02 | 807373 Rusty Shorts
Rusty Shorts's picture

I don't know CD, just ran across this today ... what's the deal at 2:03 ? A 1,368 ft tall building collapses into a 25 ft tall rubble pile?

Wed, 12/15/2010 - 00:00 | 807040 Spalding_Smailes
Spalding_Smailes's picture

The dollar crash chronicles ... Lol'



by Mr Lennon Hendrix
on Mon, 10/18/2010 - 13:08


Oil has not decoupled from PMs, but I agree that this recent trend suggests that oil is breaking from FIAT (Silver/gold decoupled from FIAT in the spring of '09 when the equity markets tested the Fall '08 lows).  A move to $100 or even $95 would assure it.  This would either be a sign of a) an oil (production) shock or b) further loss of confidence in the dollar.  If both of these were true it would be bye bye dollar over night.  The oilgarchs have been waiting for that all along, and they have managed (by cutting the economy's throat in the Fall of '08) to bleed the system until now.  I think that the dollar can only handle one more dead wreckening until it is done (foreclosuregate should do the trick), but when that oil spike comes!  It is over.

by Mr Lennon Hendrix
on Mon, 10/18/2010 - 13:01

Everybody calling a top on this a top on that.  But remember the technicals come from the fundamentals, and the dollar is over valued, period.  Gold is undervalued, period.  Sure we are at a turning point, as POMO is almost everyday yo, and Forclosurgate is going to be the end all of end all ("We can fix it" -JPM....JPM are a bunch of pranster, bankster gangsters).  If there is a meltup in the dollar, what will cause it?  Weakness in Australia?  They may be on the brink of a housing collapse, one that would be triggered if the US real estate market vanished (which is what could very well happen pricewise), but there would be bad news for the doolar; the reserve note is backing all debts right now, even the Euro and Yen are backed with dollars.  All falls down, and here it comes.  A month from now at the most.  And no, the dollar will not last the day, if even the night.

  • flag as junk (2)
  • flag as junk (0)
  • Wed, 12/15/2010 - 00:07 | 807068 Spalding_Smailes
    Spalding_Smailes's picture
    by Mr Lennon Hendrix
    on Wed, 11/24/2010 - 15:38


    Events accurate, series might be different.  First mention should have had oil at $500 when silver was at $100, which means the dollar scenario would have started at QE3.  

    DXY 53 would be a little extreme, I think 66 will be the tipping point.  I think $200 oil, $2000 gold and $50 silver will be enough to end the FIAT system.

    "A strong dollar will be the result of QE 4."  If it didn't work for QE2 and Timmah said strong dollar then, I think QE3 could tip the scale we will see.

    Kudos for 'Obama noting China has been reducing holdings', he will say that.

    $200 billion?  Way low.  If we are on QE4 and the DXY is at 55, try tens of trillions of dollars to be issued and used at once.

    Soros will say that.  Part of the rhetoric.  The Tea Party will say the Libs spent too much.  Bla bla bla. 

    Treasurie run and stocks down?  Not high end corporates on the Dau.  And corporate bonds price's will sky!  Inverse relationship with Treasuries and if Tbills ain't a safe play, what happens?

    The sun sets on America, but not the corporations that earned their stripes there.  The corporations will be seen as a savior for many out of work people in this case.  'Viva Nike!'

    OPEC would have halted oil at the beginning of this madness.




    But hey, potato potatoe.

    Wed, 12/15/2010 - 00:15 | 807088 Spalding_Smailes
    Spalding_Smailes's picture

    The crazy thing is, after this gem was told gold has traded sideways ever since.... Lol'



    by Mr Lennon Hendrix
    on Mon, 10/18/2010 - 13:08


    Oil has not decoupled from PMs, but I agree that this recent trend suggests that oil is breaking from FIAT (Silver/gold decoupled from FIAT in the spring of '09 when the equity markets tested the Fall '08 lows).  A move to $100 or even $95 would assure it.  This would either be a sign of a) an oil (production) shock or b) further loss of confidence in the dollar.

    Wed, 12/15/2010 - 00:20 | 807098 traderjoe
    traderjoe's picture

    I junked you. I enjoy his posts, as I typically enjoy yours. Just like my posts, these might be a bit over the top. Am I going to trade off them? No. We write for entertainment. No need to trump out old posts and make fun. And I would guess his silver has done quite nicely, thank you very much. 


    Wed, 12/15/2010 - 00:35 | 807130 Spalding_Smailes
    Spalding_Smailes's picture

    Hey 99% time im messing around his anti dollar post are really over the top. I love his post they are me someone to trade against. Taking his money is fun, I hope he shorts X & ben. :--)

    I love Harry everyone.

    Wed, 12/15/2010 - 00:42 | 807140 Red Neck Repugnicant
    Red Neck Repugnicant's picture

    There is a massive difference between making an educated and reasonable prediction on future market movements, and calling for an apocalypse every fucking day.

    This forum has been utterly overtaken by hyper-paranoid, ammo hoarding, apocalypse dreaming, Gunsmoke-living, bunker-digging MORONS who have enough canned food stocked under their porch to fill a Del Monte warehouse.  

    Sometimes I get the impression that ZeroHedge was put on the must read bulletin at various militia meetings and ammo dealers. A few ZH articles got forwarded on email chain-gangs, and a year later this place is swarming with them.

    If I offend some unabomber wannabes, I really don't give a fuck. 



    Wed, 12/15/2010 - 01:09 | 807187 traderjoe
    traderjoe's picture

    I don't disagree with anything you said above. I just don't think we need to devolve into copying and pasting two month old posts for everyone. I've probably called for a collapse here or there myself. And I would never do the same to Spalding. I enjoy his clips of news and other items of note. It allows me to read a variety of sources. 

    I just know that I can read past the hyperbole without getting all worked up. So it was the copying and pasting that I junked. 

    And by the way, I've enjoyed your posts lately. More straight up commentary and humor and not the performance art. I like reading your perspective. Cheers.

     - going back to cleaning my gun now... 

    Wed, 12/15/2010 - 01:16 | 807200 Red Neck Repugnicant
    Red Neck Repugnicant's picture

    cheers, big ears.

    Wed, 12/15/2010 - 02:12 | 807281 Spalding_Smailes
    Spalding_Smailes's picture

    Dollar just went over 80. Gold/Silver getting monkeyhammered...

    Wed, 12/15/2010 - 04:50 | 807370 CD
    CD's picture

    Now look who's getting all hyperbolic... Silver dropped a WHOPPING $0.2 - $0.25. Gold PLUMMETED -- by $5. Wow. I am really shitting bullets now... ;-)

    Wed, 12/15/2010 - 01:24 | 807213 OldTrooper
    OldTrooper's picture

    REAL hyper-paranoid, ammo hoarding, apocalypse dreaming, Gunsmoke-living, bunker-digging MORONS don't stock up on canned food - they stock dehydrated food.  It lasts longer and is much lighter.

    Wed, 12/15/2010 - 13:09 | 808368 TheMerryPrankster
    TheMerryPrankster's picture

    Real survivalists realize a single food source is a choke point and an unstable strategy. Canned goods, frozen food,dry foods - like sugar ,rice, flour, beans,etc- as well as a garden and an ample supply of a variety of garden seeds, thats the way you do it.


    Remember without an ample and redundant water supply all your food is useless.


    Tue, 12/14/2010 - 21:23 | 806729's picture

    How do I prevent someone from snatching my arm in the middle of the night and eating it?

    As long as you keep your fist clamped firmly to your man parts I don't believe that most folks will consider your arm to be a culinary delight. So, don't panic and just hold on.

    Wed, 12/15/2010 - 00:38 | 807060 G-R-U-N-T
    G-R-U-N-T's picture

    I donated my arm yesterday to Michelle Obama's new school menu. "Since we can't just leave it up to the parents" it seemed the fitting thing to do.

    Tue, 12/14/2010 - 21:37 | 806764 Aristarchan
    Aristarchan's picture

    Well...even as we speak here, Homeland Security is stockpiling Spam in order to stem any possibility that rampant cannibalism might spread from the poor/middle class and into the rich/power elite. It is well known that Spam tastes pretty much like human flesh, and is widely speculated to be the reason peoples with cannibals in their ancestry (Hawaii, Polynesian Islands, etc) enjoy it so much, and in fact, call it "long pig," which is their historical reference to human beings being served up for a meal. So, not only would I recommend investing in the Spam people, but hording cans of it yourself, which might come in handy if you need to make a classic capitalist trade for some Spam for your arm.

    Tue, 12/14/2010 - 21:44 | 806795 Mr Lennon Hendrix
    Mr Lennon Hendrix's picture

    If Homeland Security is anything like it has been they will eat the SPAM before it is needed.

    Tue, 12/14/2010 - 23:24 | 806988 delacroix
    delacroix's picture

    is it kosher?

    Wed, 12/15/2010 - 01:09 | 807185 Uncle Remus
    Uncle Remus's picture

    What was the question?

    Tue, 12/14/2010 - 23:08 | 806965 MsCreant
    MsCreant's picture

    Your post made feeeel so Christmasy special, I want to sing:


    Gold man's sacks roasting, over an open fire.

    Jack frost snipping off your nose.

    Mule tied bankers being hung ever higher,

    And folks coked up like gigolos.


    Everybody knows those turkeys put on a minstrel show,

    Helped to make our budgets tight.




    Tue, 12/14/2010 - 21:48 | 806811 Max Hunter
    Max Hunter's picture

    God bless, and God bless the USA. 

    This is the last country God would bless.. If he existed.. Maybe the tooth fairy will bless us..

    Tue, 12/14/2010 - 22:10 | 806871 Aristarchan
    Aristarchan's picture

    Not gonna happen....meth teeth have a blessing exemption.

    Tue, 12/14/2010 - 20:34 | 806591 rubearish10
    rubearish10's picture

    Nothing's going to happen, just buy stocks and turn this shit off. <sarcastic>

    Tue, 12/14/2010 - 20:36 | 806598 Mark Medinnus
    Mark Medinnus's picture

    LBO, ie, large bowel obstruction?

    Wed, 12/15/2010 - 01:10 | 807193 Uncle Remus
    Uncle Remus's picture

    leveraged buyout, not that there is much of difference anymore...

    Tue, 12/14/2010 - 20:35 | 806599 Alex Kintner
    Alex Kintner's picture

    I see nothing happening to prevent the worst case outcome. The US is still captured by the Goldman. And Goldman is going to boot spur this beast all the way to hell.

    Tue, 12/14/2010 - 22:13 | 806876 Aristarchan
    Aristarchan's picture

    Every time I think of GS...I think of that shark that ripped your ass off.

    Wed, 12/15/2010 - 11:35 | 808012 Alex Kintner
    Alex Kintner's picture

    Ha. You been reading my mail? :-)

    Tue, 12/14/2010 - 20:38 | 806600 bob_dabolina
    bob_dabolina's picture

    God Damn illuminati's stealin' America's wealth.

    This is all Bush's fault. This and Katrina and 9/11.

    Tue, 12/14/2010 - 20:49 | 806630 Mr Lennon Hendrix
    Mr Lennon Hendrix's picture


    Tue, 12/14/2010 - 20:51 | 806644 Mark Medinnus
    Mark Medinnus's picture

    Washington, who chose Hamilton for Treasury Secretary, might be the founding ur-culprit.

    Tue, 12/14/2010 - 20:55 | 806656 Mr Lennon Hendrix
    Mr Lennon Hendrix's picture

    George Washington never enjoyed politics, he enjoyed battle.

    Tue, 12/14/2010 - 21:32 | 806751 CH1
    CH1's picture

    Washington was a good man, but his loyalty to Hamilton was his undoing.

    Tue, 12/14/2010 - 21:58 | 806837 penisouraus erecti
    penisouraus erecti's picture

    and the Kennedy assasination, don't forget

    Tue, 12/14/2010 - 22:09 | 806868 Terminus C
    Terminus C's picture

    It must have been GHW Bush who shot him... he did work for the CIA no?

    Tue, 12/14/2010 - 23:29 | 806995 caconhma
    caconhma's picture

    Now, we are getting somewhere.

    Tue, 12/14/2010 - 20:37 | 806604 Humpty Pundit
    Humpty Pundit's picture

    It is nice to hear some basic common sense for a change. I think like many on this site have alluded to we have too many PHD economists sucking a living out of the whole mess he just described. I hope someone makes one of those cartoons out of the points they discussed.

    Tue, 12/14/2010 - 20:39 | 806605 High Plains Drifter
    High Plains Drifter's picture

    All this bru ha ha about the elections and this is what we end up with? The people of Alabama should do something about this moron. He simply does not get it and probably never will. He is a traitor talking like this.

    Wed, 12/15/2010 - 01:08 | 807178 G-R-U-N-T
    G-R-U-N-T's picture

    Atlas Shrugged: Directive 10 289...

    In the name of the general welfare, to protect the peoples security and total stability, it is decreed for the duration of the national emergency that:

    #1. All workers, wage earners, and employers of any kind whatsoever shall henceforth be attached to their jobs and shall not leave nor be dismissed nor change employment, under penalty of a term in jail. The penalty shall be determined by the Unification Board, such Board to be appointed by the Bureau of Economic Planning and National Resources. All persons reaching the age of 21 shall report to the Unification Board, which shall assign them to where, in its opinion, their services will best serve the interests of the nation.

    #2.  All industrial, commercial, manufacturing and business establishments of any nature whatsoever shall henceforth remain in operation, and the owners of such establishments shall not quit nor leave nor retire, nor close, sell or transfer their business, under penalty of the nationalization of their establishment and of any and all of their property.

    #3.  All patents and copyrights, pertaining to any devices, inventions, formulas, process and works of any nature whatsoever, shall be turned over to the nation as a patriotic emergency gift by means of Gift Certificates to me signed voluntarily by the owners of all such patents and copyrights. The Unification Board shall then license the use of such patents and copyrights to all applicants, equally and without discrimination, for the purpose of eliminating monopolistic practices, discarding obsolete products and making the best available to the whole nation. No trademarks, brand names or copyrighted titles shall be used. Every formerly patented product shall be known by a new name and sold by all manufactures under the same name, such name to be selected by the Unification Board. All private trademarks and brand names are hereby abolished.

    #4.  No new devices, inventions, products, or goods of any nature whatsoever, not now on the marker, shall be produced, invented, manufactured or sold after the date of this directive. The Office of Patents and Copyrights is hereby suspended.

    #5.  Every establishment, concern, corporation or person engaged in production of any nature whatsoever shall henceforth produce the same amount of goods per year as it, they or he produced during the Basic Year, no more and no less. The year to be known as the Basic or Yardstick Year is to be the year ending on the date of this directive. Over or under production shall be fines, such fines to be determined by the Unification Board.

    #6.  Every person of any age, sex, class, or income, shall henceforth spend the same amount of money on the purchase of goods per year as he or she spent during the Basic Year, no more and no less. Over or under purchasing shall be fined, such fines to be determined by the Unification Board.

    #7.  All wages, prices, salaries, dividends, profits, interest rates and forms of income of any nature whatsoever, shall be frozen at their present figures, as of the date of this directive.

    #8.  All cases arising from the rules not specifically provided for in this directive, shall be settled and determined by the Unification Board, whose decisions will be final.


    Tue, 12/14/2010 - 20:40 | 806607 chopper read
    Tue, 12/14/2010 - 20:42 | 806614 Edmon Plume
    Edmon Plume's picture

    The problem isn't tax cuts, it's out of control spending.  Period.  If there was no government, there would be no government spending, and therefore there would be no taxes, and tax cuts wouldn't be an issue.

    If there was only a little bit of government, then there would only be a little bit of government spending, and tax cuts wouldn't be demanded, as citizens understand that a small sum is needed to have a government that fulfills a narrow purpose as defined by the founders.

    Instead the government has long ago exceeded its purposed and financial mandate, and usefulness as the guardian of our liberties.

    Tue, 12/14/2010 - 20:47 | 806627 High Plains Drifter
    High Plains Drifter's picture

    That is why he got fired from the Reagan administration, over tax cuts.

    Tue, 12/14/2010 - 21:17 | 806719 Rainman
    Rainman's picture

    ...naw, he got canned for not believing the trickle down bullshit....but that's okay.....nobody did. Talking about it publically not okay. 

    Tue, 12/14/2010 - 20:52 | 806645 Dr. Acula
    Dr. Acula's picture

    >citizens understand that a small sum is needed to have a government

    Speak for yourself, socialist.


    Wed, 12/15/2010 - 01:13 | 807197 Uncle Remus
    Uncle Remus's picture

    Bake sales. You're talking about bake sales.

    Tue, 12/14/2010 - 21:20 | 806724 penisouraus erecti
    penisouraus erecti's picture

    Here Here!! How is raising taxes going to help anything out Mr. Stockman? The real issue is the spending, we can't tax people > 100% to pay for all that crap, which is what you'd have to do. Intel CEO - can open a new chip pland here for 4 billion, or one in a business friendly country for 3 billion. Why? Wages? No - the whole regulatory/legal business unfriendly environment here. And we ask..........where have all the jobs gone? Reminds me of an old song............

    Wed, 12/15/2010 - 00:22 | 807094 PierreLegrand
    PierreLegrand's picture

    Bring on tax cuts...why should I give even more of my money to those corrupt motherfuckers running the Government. Stockman is a tool of big government or else he would realize this basic fact. The more money we give those motherfuckers the more money they will spend. We don't give them money they have two choices, bankrupt the country or cut spending.

    ANYONE who says different is a statist of some stripe.

    Btw bankrupting the country is not a bad scenario at this point since so much of the government intrudes into every single area of our lives. Perhaps bankrupting those motherfuckers will enable the people to wake up to work and realize that it is better to feed yourself then to be tit fed at the fat flabby tits of government. Having found that our perhaps they will then realize what a bunch of bullshit all these government intrusions are and we can start voting those cocksuckers out of office who thought that shit was a great idea.

    Wed, 12/15/2010 - 00:33 | 807121 weinerdog43
    weinerdog43's picture

    I fart in your general direction frenchy.

    Wed, 12/15/2010 - 14:25 | 808683 chopper read
    chopper read's picture

    one MAJOR correction - even with NO government, we would still have taxes, because we pay an interest rate on our money supply!!!

    Tue, 12/14/2010 - 20:45 | 806619 High Plains Drifter
    High Plains Drifter's picture

    create your own network of domain name servers......

    interesting idea.

    Tue, 12/14/2010 - 20:46 | 806620 chubbar
    chubbar's picture

    They are taking us down, purposely. Reid planning to keep the senate in session until the 23rd. Any guesses why? Try amnesty vote. This will be the last time they worry about illegals as I understand the house passed amnesty bill allows Napolitano and her successors to grant amnesty whenever the mood strikes. No more having to worry about the will of the people and all that nonsense.

    She also just signed papers to allow 84 million from south of the border to be "trusted travelers". Guess that means they didn't shelve the North American union plans after all. Who knew?

    Tue, 12/14/2010 - 20:47 | 806626 chopper read
    chopper read's picture

    all this treason tickles my trigger finger. 

    Tue, 12/14/2010 - 20:50 | 806635 High Plains Drifter
    High Plains Drifter's picture

    It doesn't surprise me but I thought for sure they had tabled that issue. 

    Tue, 12/14/2010 - 20:58 | 806657 Dr. Acula
    Dr. Acula's picture

    People don't need special privileges to breathe, to travel, or to work.

    If you want to keep immigrants off your property, then go for it; but leave me and my property alone. If I want 100 immigrants living on my property and picking vegetables for me and you don't like it then F*** off.

    You've obviously spent too long in the socialist child concentration camps: you have the audacity to tell other people what to do with their own property.

    Tue, 12/14/2010 - 21:25 | 806731 chopper read
    chopper read's picture

    your points are good ones.  however, we have a welfare state that is already burdened.  open borders increases this burden.  for the record, i am against the welfare state and for any person who wishes to work.  unfortunately, the welfare state shackles us to all those who want something for nothing. 

    Tue, 12/14/2010 - 21:38 | 806769 CH1
    CH1's picture

    Fair enough, then the answer is to kill welfare. (And I'm with you there.)

    Tue, 12/14/2010 - 21:48 | 806810 Dr. Acula
    Dr. Acula's picture

    Exactly, and also kill minimum wage so that law-abiding people can compete with black market laborers. The minimum wage sets an unnatural price floor. Price fixing always creates gluts or shortages; in this case, there is a glut of unemployed people.

    Regardless of the harmful economic consequences of minmum wage laws, it is a joke that in the "Land of the Free", two people aren't free to exchange a certain amount of money for a certain amount of labor.


    Tue, 12/14/2010 - 22:55 | 806950 iDealMeat
    iDealMeat's picture

    Gets better. Many companies that hire illegal laborers in the us also steal income tax from of they're pay check.. Think the illegal would report it?? no chance..

    What this planet needs is a massive solar flare to take out all satellites and down the power grid for a couple months.. preferably in the summer months to help out the old folks..

    That would go a long way toward realigning our priorities..

    Wed, 12/15/2010 - 00:24 | 807105 PierreLegrand
    PierreLegrand's picture

    What do you have against old folks?

    Wed, 12/15/2010 - 01:09 | 807188 chopper read
    chopper read's picture

    i agree with you both.  the 'letter of the law' is crushing liberty which was once protected by the U.S. Constitution. 

    Tue, 12/14/2010 - 21:48 | 806817 Aristarchan
    Aristarchan's picture

    What do you suggest we do with those born with the lack of mental or physical capacity to be a "master of the universe?" Euthanize them? maybe you would like to apply for that job.

    Do NOT follow this link or you will be banned from the site!