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Open Thread
The long weekend is upon us. Please use this space to discuss anything that is relevant, or that may need our focused attention. Also, a reminder that there is a forum for extended threads for more focused discussion.
The soapbox is yours.
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I heard that the government is going to start cross checking IRS returns with mortgage payments on individuals??? Ppl claiming 50K a year and making $10K monthly mtg payments...I smell a tax cheat...now this only applies to the sheeple, not government employees!
Where is the Q2 FDIC report? I don't want some statement, I want a freaking report. Linky?
it was issued (last week i think)...got a lot of play in the MSM. fdic dot gov
Tonights contribution to make you lol..
http://www.youtube.com/watch?v=6r-3JuAPyho
http://www.youtube.com/watch?v=Z-O4mJKEEqQ&feature=related
http://www.youtube.com/watch?v=rhw8DFSGzvg&feature=related
Cash-strapped states revise laws to get inmates out Mandatory sentencing laws are relaxed, parole is accelerated, and time off for good behavior is increased as states scramble to save money.
http://www.latimes.com/news/nationworld/nation/la-na-prison-release5-2009sep05,0,5705309.story
Yeap they let them out this week to help fight the fires!!! JK...but yes, they are too expensive to house...I think they should sent everybody to Gitmo and let them run wild..
Here is the blueprint: http://www.imdb.com/title/tt0082340/
The bankers are already on the island.
Who is snake?
I'd like to see them sent to Wall Street and see how a critical mass of sociopathy shakes out without the $5000 suits. Something tells me they would clean house for us in short order.
Most of the people in prison don't belong there anyway. They were just making money on the black market (aka drug dealers), meanwhile bankstas are roaming around freely destroying our society.
Free the crackheads. jail the bankstas. Fine with me.
Yep. One of the only reasons I've figured out for the large scale illegality of "narcotics" in Amerika is that the banksters have never figured out a predictable way to issue debt w/r/t drugs. So they came up with the prison society instead.
It's cheaper to treat than imprison and so society is forced to put all of the addicts in prison without treatment. And the addictions are still fed inside "secure" prisons. It's because the banksters issue the debt to build the state-sponsored prisons.
you are a thinker. kudos.. try spirituality...
good stuff sqworl. i needed a good laugh, considering all i've been thinking about is all the people who need a good horsewhipping.
"This is my town hall meeting. I set the rules."
Baron Hill 9th IN
http://www.youtube.com/watch?v=HtmgQ2W3lhM&eurl=http%3A%2F%2Fwww%2Edaily...
Arrogant little bitch.
...
I may have missed it, not only is ZH great in content but the community of commentators provides wonderful insights as well as entertainment. my favs Cheeky B, Project M.
http://www.thegoodseed.com/What%20I%20Believe%20Happened%20On%209.pdf
Are IMF Bonds becoming the new us treasury bond?
Can someone smarter than me figure out whether this is really, really bad or just seriously bad. bloomberg article being run regarding 500 Billion raised at the IMF to Help in the crisis.
1) http://www.bloomberg.com/apps/news?pid=20601087&sid=axjVCUwvh934 (500 Billion)
2) http://www.marketwatch.com/story/china-to-buy-up-to-50-billion-of-first-...
3) http://www.bloomberg.com/apps/news?pid=20602083&sid=ae6jXh1NVk.U (push for coordinated withdrawal of stimulus)
4) http://www.kitco.com/ind/Nathan/aug312009.html
Aug. 28 (Bloomberg) -- The International Monetary Fund said it today pumped about $250 billion into foreign-exchange reserves worldwide, acting on an April call from leaders of the Group of 20 nations to boost global liquidity.
Countries will be able to convert the money, to come from so-called Special Drawing Rights, into hard currencies through “voluntary trading arrangements” with other members, the IMF said on its Web site today. The SDRs are the institution’s unit of account based on a basket of currencies.
this guy is excellent in teaching you everything about survival and choosing the right equipment that you will soon need. you can thank me later for turning you on to him. http://www.youtube.com/watch?v=HqkeKwRmWFY
Here's a weekend topic. Who's going to be the next superstar, the next pop icon, bigger than Andy Warhol? I say Lady Gaga. She's amazing. So creative in many ways. For those of you that don't follow pop culture, here ya go: (video filmed at Cheeky Bastard's summer cottage).
http://www.youtube.com/watch?v=QQJ9Vi8GLok&feature=PlayList&p=BD0D3EEC94A01435&playnext=1&playnext_from=PL&index=11
http://www.youtube.com/watch?v=4IfQ6wUmUbA
Sorry if this was covered already... but looking at the price action in gold this week taking off, but the dollar being relatively stable (when it should have gotten pounded based on the move in Gold)... makes me wonder if the real cause of gold shooting higher had something to do with the hardly-reported (and maybe just rumored) Hong Kong withdrawal of all of their gold from the London gold banks. Doesn't this tie in with ZH analysis that there may be more gold "on paper" than physically exists? Thoughts?
I read somewhere (here?) that it may be all those folks with swiss accounts getting out of them before the IRS can get them and into gold, to avoid tax. Demand up = Price up.
Not the issue. If you want physical gold, you don't want the Swishies lending it out and giving you counterparty risk, seizing it if their currency tanks due to banks loosing money of Eastern europe tanks, etc.
More than 1/2 the worlds money is either in private hands or hijacked into pension, 401k plans. There's no flows of money and prices any more. The market just prints the prices on the menu and lets you pick your last meal.
Wurd...
It’s clear that the Obama Administration’s “czar system” is a grand design to command and legislate activities beyond the accepted boundaries of the Executive Branch’s authority. The czars are being given sweeping authority to create programs, spend money and determine policy—all without any approval or oversight from the Congress.
Of course, since the president’s party has super majorities in both houses of Congress, the members have little concern for what’s happening; most probably are delighted that they won’t be blamed by the displeasure of the people. The czars, from being allowed to set salary levels for thousands of private business leaders to organizing partisan political programs, have in many cases been shown to be so out of touch with Main Street that they could never have been approved by Congress, had the constitutional route been followed.
One czar in his past has even discussed widespread female sterilzation via the water supply as a valid method of population control. Another czar is now openingly referred to in the MSM as a former neomarxist.
Regardless of what one thinks of Glenn Beck and David Horowitz, they are bringing out details of these czars everybody needs to hear.
Sqworl today on ZH’s The CRFB Sees Locusts post, referenced the following Beck clip on how the czars operate, with this comment: “The Plan with Soros as the architect...Here is the change you voted for:”http://www.youtube.com/watch?v=XjOLS7YLS5c
And here is my transcript of the clip,”Former Communist David Horowitz Speaks About Obama:
President Obama has 15 advisors who fill his cabinet, but as we’re learning they may be the most ineffective group ever assembled by a president in our nation’s history. The reason? Because he has 37 czars to oversee and advise him directly on matters ranging from population control to globalism and localism. These are all serious issues that in the president’s own words will fundamentally change America.
What’s the danger of czars and other special advisors? Never before have so many executive posts that have not been confirmed by Congress answered only to the president. But that’s just the tip of the iceberg… Democratic Senator Robert Byrd came out against these czars back when there were just a third as many czars as there are now. Back in February, he wrote a letter to Obama: “The rapid and easy accumulation of power by the White House staff can threaten the constitutional system of checks and balances.” That is absolutely what’s at stake here. And Senator Byrd, a Democrat, is right to point out that a growing Executive threatens the Legislative branch.
But Byrd is wrong when he says, “At worst the White House staff has taken direction and control of programmatic areas that are the statutory responsibility of Senate confirmed officials.” No! At worst, you have the czars’ radical ideas turning into policy, particularly in the realms of science and bioethics. When you hear the president’s words-- “The truth is, that promoting science isn’t just about providing resources. It’s about protecting free and open inquiry. It’s about insuring the facts and evidence are never twisted or obscured by politics or ideology.”--and compare them to the men and women he’s made into advisors and czars, do you really believe he’s picking people who are not pushing an ideology or just not pushing one that he disagrees with?
Let’s start with Obama’s science czar, John Holdren. In 1977, he co-authored a book with environmental activists Paul and Anne Ehrlich called Ecoscience which suggested our Constitution would permit forced abortions “if the population crisis became sufficiently severe to endanger the society.” Ecoscience: Population, Resources, Environment also advocates spiking drinking water with chemicals to make people sterile…though the authors caution that it would “have to meet some rather stiff requirements…” Yet Holdren’s radical ideas aren’t limited to his views on depopulation from the 1970s. In order to fight global warming, Holdren said earlier this year that he believes things are so bad that he’s not even willing to take this drastic measure off the table, i.e., “There are a variety of schemes that have been discussed for geo engineering; a classic example is injecting reflecting particles into earth’s obit that would deflect some of the sunlight that would otherwise be warming the earth, and that way try to produce a cooling effect to offset the heating effect of carbon dioxide and other greenhouse gases.” That idea has been likened to creating a massive volcanic eruption which sometimes scientists said, theorizing, killed the dinosaurs.
Then there’s the matter of bioethics. Two men who have the president’ ear have thought about running government heathcare policy with cost benefit analysis. Regulatory Czar Cass Sunstein wrote: “If a program would prevent fifty deaths of people who are twenty, should it be treated the same way as a program that would prevent fifty deaths of people who are seventy? Other things being equal, a program that protects young people seems far better than the one that protects old people because it delivers greater benefits.”
And Obama’ Health Policy Czar Ezekiel Emanuel, brother of Obama's Chief of Staff Rahm Emanuel: “Conversely, services provided to individuals who are irreversibly prevented from being or becoming participating citizens are not basic and should not be guaranteed.” ….
Knowing that people like Emanuel, Holdren, Sunstein, former black nationalist, avowed Communist, Van Jones, and dozens of others will surround Obama and shape his ideas should give anyone pause. That is the true danger in these czars.
Beck asked guest David Horowitz, a reformed 1960s radical and former Communist whose parents were card-carrying Communists: “President Obama has said we need a Civilian Force that is as highly trained and as well funded as our U.S. Military for domestic purposes. Why is that?”
Horowitz: “Barack Obama is an ideologue; [he] comes out of a Left that has been trying to get power in this country for half a century and this is their best chance to do it. The army he’s speaking of is only one of many armies. When he appoints an avowed Communist, a guy who was arrested in a race riot…” (Beck interrupts with comments) Horowitz continues: “The 1960s movement of radicals which is now running the show was begun by children of Communists to revive the Communist movement.”
Beck: “As a former Communist yourself, what are the earmarks not just of a Communist but of a radical Communist like Van Jones?”
Horowitz: “You can’t call yourself a Communist three years after the Berlin Wall fell and not understand what went on in Communism and not support it. And for the Left? The Left sees everything that the Left does that’s a crime, and they say the capitalists did it, the devil made me do it, this is the (unclear) of Fidel Castro who bankrupted his country, who’s a lunatic; but what they do, they blame it on the United States.”
I have a question for all ZH'ers. Try to imagine a hypothetical situation in which US is attacked by some country or a group of countries. And there are bombs going up around you, cities are being destroyed; to make it short. Imagine yourself if there is a war in the US. What would you biggest concern be in the time period in which that war would be lead ? Only true and straight answers please. Anonymity hides you.
Sorry Cheeky, imagining this makes me cry and all i can think of is, "where are my kids?"
Already pre-planned for major catastrophe... hopefully no one would be immediately interested in Minnesota... we are not really a high value target... so I would likely have an hour to get my child; the shotgun, Ruger and ammo; the stored gold and cash; passports; and make the 2 hour drive to the Canadian border... then drive as far into Canada as I could... then access my Canadian accounts that have already been set up... rent a house... and wait it out hopefully in something that resembles comfort. If it is not looking to comfortable in Canada then catch the first flight out to Switzerland.
If I can't get to the Canadian border... then I have the same items at home and am already set up to be off the grid for quite a while.
A girl scout is always prepared :-)
Minnesota; you're a girl ???????
Sorry Cheeky... but I am... but a really smart and successful one... and not always nice :-) And I think I will take your complete and utter surprise as a complement! So tell me what you would do in such an event... what would be your greatest concern... you are closer to the Middle East than we are...
Why sorry; i always thought you were a dude. Must've been because you never wrote a post which would indicate to me that you are a woman; up until now. You ask me what i'd do ? Probably nothing; I'm not all that much concerned with the matter of Death or War or Destruction. Indifference is my weapon. But if i would need to fight; i would fight. But it really makes no difference to my general view of things. I will end up in a horizontal sooner or later.
You are a hard personality to get a handle on... very existential at times... but then analytical and grounded at other times... you remind me of a physicist or cosmologist who does metaphysical writings in an effort to find the real meaning of life... I read a lot of them...
You are right on the analytical and philosophical part. Thats why i studied mathematics ( the analytical part ) and philosophy ( the analytical part of an analytical part + some other benefits when it comes to methodology and the structure of questioning ). Well, when i was around 12 years old i have read the book on Michelangelo and since then i always wanted to know more and more and more; and then when i was about 16 i discovered Leibniz and Descartes and developed my love for mathematics. And at 17 i found Kant so there is the philosophical part of " me ". If i might say; you are one fine lady ( that much i could derive from your posts ) and it is always a tremendous pleasure when you share your thoughts with me and other posters on ZH.
Well I will definitely take that as a complement... and I wish when I took my math and physics classes I could have developed the passion you have for that language... it was rote memorization for me at the time and really took the fun out of it... I found nothing to apply it to in the real world... I think I missed out on a lot.
But now when a read a physicist try to translate their language into the meaning of life... I have to stretch my brain to remember the old equations... and how they apply to the concept he/she is trying to explain... it is my mental idea of fun... Brian Greene with 'The Elegant Universe' and 'The Fabric of the Cosmos' are fun reading adventures.
that math is boring. the really beautiful one is when you're doing it via mathematical logic; via providing a proof. equations are merely tools for writing down your observations. the aesthetics of mathematics lays in the methodology of providing a proof or in the proof itself. Physics it also wonderful; especially the great divergence between Einstein and quantum. Absolutely beautiful.
I have some localized resources that I have no problem sacrificing my life to defend. I may run but only to a limited distance. I am simply not afraid to die and would be willing to make the ultimate sacrifice in the hope that it in the long run a positivie outcome would somehow be achieved. It's a very good question, IMO, one that basically everyone in the world needs to consider at this point. I had ancestors who fought in both the 1st Revolutionary war and the 2nd Revolutionary war (aka the "civil war" blech). I have no problem sacrificing my life for a worthy cause.
We'll see what happens. But I can assure you--I will not run to merely try to preserve my life.
A smart trooper is the one that makes the other poor dumb SOB die for their country or cause.
...
Perfect... you can come with me... but you take the lead since you are into that ultimate sacrifice stuff... I'll follow behind and cover you :-)
I just know that others will be stupid and so I must do what must be done. Been there, got the t-shirt. If you want to follow and cover, cool. Always good to have awake and aware associates. Then we can link up with DH and Co.
would you two get a room....:D
I just love that stuff... Einstein, Podolsky, and Rosen worked so hard to develop a theory that a particle has both a definite position and velocity... and then Bell and Aspect blew it out of the water... it is fun to play with in your mind... does the moon exist when you are not looking at it... or is it just a bunch of subatomic particles existing in a state of possibility until you, the observer are present...
or my favorite read ever... asks the question "does the universe exist only in your head"... Biocentrism by Robert Lanza... a snippet at:
http://www.msnbc.msn.com/id/31393080/
If you're so damn smart, then why are you worried about scenarios that have no chance of coming to be?
You seriously have thought and planned about running to Canada? Really?
You will never know will you :-)
Personally, I love B.C.. Be it Hornby Island, Hope - west, Vancouver or Dawson Creek..
BTW, remember these..
http://www.murphys-laws.com/murphy/murphy-war.html
Just a simple carpenter with a view above the trenchs, and unafraid of the state.
No chance? hahahahahahaha
Just when you say it cannot happen Murphy comes along and punks you. Don't believe me, ask Dick Fuld, Chuck Prince or Stan O'Neil about cannot happen.
I guess it's always better to be prepared than sorry. However one has to wonder, what major catastrophe might touch us and spare our northern neighbors?
P.S. CB, you ve got to be more specific than that. Firstly I would relax. Panic kills if you don't panic first, and since the war has started, it would be too late to panic. Secondly, I would get tons of dry macaroni & cheese, bread (would bake it dry) & water purifiers. The supplies would go to family.
Thirdly, I would enlist and had not so glorious death (cause death is rarely glorious.) We would ether win & my death would not be the total waste or lose but I wouldn't have to live under dictatorship or some similar insane regime.
Come on Comrade... let me live in my world where I have everything figured out... my theory is that Canada always manages to avoid conflict... kind of neutral like Switzerland... you never read about Canada ticking anyone off... its a quiet neighbor... and Al-Qaeda has never used the word Canada in an Arabic sentence... so it should be spared :-)
Like the bread idea... not so much the death part though...
Canada did fight in the same wars we did. And the only reason they avoid the collateral damage is their geographical separation from the rest of the world and us being peaceful neighbor.
Let's not kid ourselves, if it weren't for us the world would be much more warring place. And since most of 'em are not quite grateful, I say we should give them such an opportunity to defend themselves. Let's say against Chinese RM hunger.
And if it wouldn't be for us or someone else, Canada would be used in an Arabic sentence rather often. You ve got to remember that when people are unhappy, the easiest way to chill their frustration is to find an outside enemy. That's exactly what all of those puppet kingdoms are doing. There always would be someone to point finger at, such is the human nature.
You forget Ressam and his associates, NATO operations in the 'stans and other factors. The questions I hear most often from my associates in Canada is; "Will we be able to count on Ottawa and Quebec when the time comes?".
minnesota...i live in upstate NY, close to canada. i agree with your thoughts on canada 100%. I'm safe where I live in CB's scenario, but if it got close, i'm with you in canada.
or grand cayman, which I adore.
OK... we will meet in Canada and then fly to Grand Cayman... sounds better than Switzerland anyway :-)
The biggest problem with the Internet is that everyone is such a damn drama queen. I think people are just bored stiff with the comfortable lives and have to have these silly collapse fantasies.
People who believe this stuff have no perspective on history or civilization or how it has persisted for thousands of years. The US is changing, but the discomfort is from uncertainty related to that change, but it won't be the change you are planning for.
"...these silly collapse fantasies.
People who believe this stuff have no perspective on history or civilization or how it has persisted for thousands of years. "
wow, talk about a contradiction.
I think he should talk to the Mayans, the people of Easter Island, the people who witnessed the many shifts in the Mesopotamian region... does he/she think that because we live in America we are immune to radical changes in our way of life... we have only been a country for about 250 years and look what we have done with the place... the Native Americans are appalled... I can't imagine that we are going to improve things in the near future...
And sometimes it is just fun to 'think out of the box' with others that like to 'think out of the box'... no harm in mental exercise...
yep
t seems that all the problems in the world pale when it comes to bankers pays in Timmy's book...
I've been stocking up on dry goods as well as participating in intense fitness and martial arts training. Physical gold is still on the to do list, though I am long gold via short a 2x gold bear etf. I'm also cultivating connections with as many different career specialties as I can; you never know when a Rocket Scientist or a Plumber might come in handy. West Coast is my home 4 Life, if I die here, I die still standin' and in love with my pride. Otherwise, I will be among the first to start to put the pieces back together... again.
fo sho. Gotta link up and make sure the needed trades are represented. Strength through collective self sufficiency and mutual defense.
My biggest concern would be to get out of the conflict. My wife and I have enough money to probably move anywhere we want.
Here are some interesting questions to think about. If the US gets decimated by the H1N1, which country would attack the US first? If the US successfully vaccinates its population, and the world gets smoked by H1N1, which country does the US attack first? My thought is it would be either Canada, or Mexico, or both.
Russia, then Mexican drug lords
I suspect that the US would do itself first with the western and southern states splitting off and asking the western Provence's of Canada to join up into a co-federation of commonwealths.
Being a DINK, I would get on the roof of my penthouse and use my rocket launcher and shoot the mofo's down...
Anti-American sentiment is masked and subdued because we spend some dollars, without a profit motive, the smiley locals won't be so happy with the Gringos. We are already scapegoats for everything "wrong" out there, when things go really wrong I doubt you'd be safer in another country with escalated anti-american sentiment. You might be in an even worse situation. Oh.. and don't count on a State Dept. to come to the rescue.
Think it through.
Simple CB. The concept of preplanned mutual defense and support does exist in some places here CB. When catastrophe strikes, expected or unexpected the preplanned kicks in and the crews come together. The probability of surviving these events is directly related to the clear headed planning, rehearsal and execution of those encompassed by the system. The strange thing is that there are far more blue than white collar folks which helps on certain skill sets and hurts on others.
I believe I smell what you're cooking and I appreciate it. Most sheeple will just end up in the line at the showers since cooperative action and interdependence is not in some folks lexicon unfortunately. Most folks either take or expect to be served. The simple fact of the matter is that prior planning prevents piss poor performance. Of course, shit happens anyway. The basic rule is hesitation kills. One must be as prepared as one can be and execute the plan. Again, most folks will do a deer in the headlights. Denial is a strong force in our species.
amen Layne. I never thought that I would see the day, but I have been stockpiling foodstuffs, water. heat my house with a wood stove, which allows me to survive without electricity.
Like Cougar said, it is easier to take care of all that perimeter if you have more than scared spouse, kid, dog and shotgun. Seriously tho, my great grandmother taught me it is best to be able to rely on yourself and keep a hand pump for your well, a wood stove, proper dry pantry and a basic garden.
BTW, you will like this place..
http://www.flutrackers.com/forum/forumdisplay.php?f=6
thx. layne....nice site. in my favorites and I will read.
Of course, my own well being and the well being of my family and friends will be my first concern. If I saw anyone with the clear intention or in the act of inflicting harm upon me or the people I care about, I would respond in kind. Turning the other cheek is soooo 1st century; doing so will not accomplish anything. BTW I consider forced conscription/chip implants/unlawful detention to fall under the category of intending harm.
Having said that, right now I'm trying to work out some further ideas for the teotwawki. I highly recommend reading a prophetic book called the Foundation by Isaac Asimov to see where I'm coming from for this. Basically I'm hoping to pick out a resource scarce piece of land in a relatively remote location that nobody would want to fight over. The only resource of such a "foundation" would be information and intelligence. Its a very distant goal but conceptualizing it is the first step.
busking - with the whole crew. I'm sadly adept at dodging projectiles while playing music.
seriously cheeky... my biggest concern would be that someone beat me to 85th broad.
excuse my french... but we will hang those motherfucker bankers.
So many of you here, this is your livelyhood. We have the power to do this but we are addicts. We could solve this, today.
Stop trading.
Stop banking.
Stop.
It is falling apart anyway. You can't get to them with a gun, or a noose, or a weapon. Another one will emerge to replace him. Maybe it will be you. Or good god, buddah, or what have you, maybe it would be me. The structure of the system will always produce this. They are us. I know you don't want to hear that.
The structure of the system is why you won't do what I suggest becaue we are all dependent on it for our survival and because we are addicts. And that is too simplistic. We don't need it, we just think we do.
A lower standard of living is not such a bad thing.
Kill a banker, stop banking.
Kill GS, stop trading.
We are all such patriots, willing to pick up our guns and defend our rights (me too), but the real "right thing" does not involve violence like that.
Call it a banking holiday or a business holiday. Call it a strike. But we call it, not them. It is so funny, we would pick up a gun and give our lives but god forbid we stop banking and trading and give up our money.
WTF?
Good point. One of the central issues is that we gave corporations personhood and yet they are entities which exist until the end of time (or bankruptcy). Theoretically, though, there's no doubt that a corporation can last forever. It's one of the dumbest concepts mankind has ever come up with.
And if it's that dumb, why do y'all (or anyone else) invest in them??
You're right in spirit McCreant, but, I am thinking that since the capital market stakes of the owners of the privately held Federal Reserve account for half of the Dow, and since that is why Goldman Sachs need nothing more than the owners of the Fed's corps, llc, and trusts, as clients, and that without every other market participant participating in a boycott, I don't see how it could work.
Very pragmatic. I need to think about it more...
all the while, i will never forget you with your pitchfork, and a powerful list of heckling questions that by the way would be extremely marketable! Suddenly i am reminded of the moment in the Forest Gump movie when one of the groupie runners reaches out to FG for inspiration while they are running, and FG says nothing but wipes his face wtih the guys tshirt, and then the smiley face idea is born...I can imagine you packaging the "required list for all concerned citizens" and you could sell that with a pitchfork, and instructions for how to use the list!
wtf a triple post
.double post sorry
Compare everything you look at to the Metropolitan Lif
e By the way the next great bubble will be life policies
that were sold with stories attached that are not supported by their writings.
I was thinking along those lines... When we are all FED up, we can pick a day and have a Peoples Bank Holiday. (tm) hehe
Glad to see your picture spanish inquisition!
Like we used to say in the '60's,"tune in, turn on, drop out". The counter-culture is dead, long live the counter culture.
America's new anthem
http://www.youtube.com/watch?v=HeC-ShrfHdQ
This should make U.S taxpayers blood boil.
They Left Fannie Mae, but We Got the Legal Bills
http://www.nytimes.com/2009/09/06/business/economy/06gret.html?ref=business
Nice find... bet that will be up on weekend reading if TD posts a list... Grayson's name automatically pre-qualifies it... but the millions and billion and trillions all run together and I am concerned that our nation is completely desensitized to hearing about another tax-payer funded catastrophe...
You are right on the desensitized part.
Notwithstanding that fact, i believe that this is worse than a mere bailout. Executives that were basically guilty of fraud are now getting their legal fees covered by taxpayers. What a clusterfuck!
I am your neighbor to the north. If the shit every really hits the fan, and you make it to the canadian border, you will have a place to stay!
Thanks for the invite. I think that clusterfuck just doesn't cover this anymore... it has risen to the level of a self-perpetuating circle jerk clusterfuck. When the government starts paying the attorney's fees of those Fannie exec's who are being sued by shareholders for wrong doing... after the government just finished suing in these same Fannie exec's in order to claw back bonuses for total incompetence... there is no other way to describe it...
I trust and concur with you on that one.
But i also believe that if someone you though would show up for you doesn't, that speaks volumes about who they are.
And once a blue moon, you experience an upside surprise and someone you least expected, shows up for you, and it is rather wonderful.
The real shows itself when least expected. In the US Army Ranger course & units we refer to the no show as a spotlighter. One of the most despised of our species.
Develope a network of at least 5 individuals you can trust with your life. When the SHTF get out of the cities (at least 3 days walking distance...the farthest distance the starving masses will be able to walk). Get a mountain bike. Find a renewable source of water and remember that water filtration doesn't remove radiation...just concentrates it in the filters...use distillation.
John Titor
And people wonder why I'm pissed...
This might be the funniest video ever, MadTV: Kenny Rogers' Jackass
http://www.youtube.com/watch?v=VV6In1K8zKk
thanks for the LAUGH Fish Gone Bad! Here is one for you: http://www.youtube.com/watch?v=R_yWNawGPd8
I have recently written a rant about the whole "too big to fail" issue, and how it has not been faced head on as a problem. Too big to post here in full.
http://saulsays.blogspot.com/2009/09/too-big-to-fail.html
I would be honoured to read any feedback - agree or disagree...
i read your blogpost Saul...nice job on summarizing the TBTF situation and the potential consequences.
Where I really agree with you is your defined "point of the matter" i.e. we aren't taking real action on shrinking the TBTFs. Actually, Sheila Bair has talked about it a bit, though one could characterize hers as either lip service or there is a possibility that she really believes it, would like to shrink 'em, but clearly does not have the support of the powers that be.
Geithner talks a bit about it but I believe his words ring hollow in terms of shrinking the big boys. He has talked more about increased capital ratios for the TBTFs which says to me that he is okay with keeping the TBTFs.
As much as I'm a pro private sector kind of person, the fact is that such a concentration of wealth and power in a handful of institutions is a very dangerous matter on a number of fronts. We need a leader(s) who is willing to commit to shrinking the TBTFs and rolling out a plan that will accomplish this, in a reasonable fashion with a long enough timeline so as to not shock the system nor negatively (to some degree) impact the TBTF stakeholders. As an example, BAC needs to spin out ML. This could possibly be accomplished without much of a negative impact on BAC stakeholders. I would envision a return to the system prior to the death of Glass Stiegal (sp.) where banks were banks and IBs were IBs.
One last item....I'm not trying to be a dick as I don't get into wordsmithing issues on the internet but you asked for feedback. As you have a blog vs. a thread like this one, I would encourage you to proofread your post as there are several typos.
good luck to you and thank you for sharing your blog.
This should wake some people up...
http://www.youtube.com/watch?v=BpAxV6uUxsM&feature=channel_page
powerful...
GRRRRRRREAT NEWS! VAN JONES RESIGNS!!!!
36 MORE CZARS TOGO!!!!
Disagree. This is from his book:
Oh, and he's a 9/11 truther. What's wrong with that? You believe the gov told you the truth about 9/11 ?
Oh, and I don't like czars either. Reagan had 1. Clinton had 6. "W" had 35 and Bama has 32. So as far as I'm concerned some people voted for change and got none.
Here's the list:
http://en.wikipedia.org/wiki/List_of_U.S._executive_branch_czars
U.S. Recovery Leaving Workers Jobless May Spur Company Profits
Bloomberg Story
The jobless recovery story continues to get legs. AP, Bloomberg, Reuters.. who is really behind this sort of propaganda?
Interesting to see the discussion of H.R. 645 on here. I just did a blog post about that this morning. The facts are interesting; you can draw your own conclusions.
http://www.rbpierce.com/index.php?view=article&id=81:is-america-building...
Life Insurance policies are the new CDO's...Is this how AIG plans to pay us back? Purchased for pennies on the dollar from seniors/terminally ill and bungled and sold to investors! WTF.. I guess Deathcare is exposed..
Couldn't these Life Insurance bonds be a Wall street play on swine flu, vaccinations and Femma Camps? They are making money on everything else...HFT ect. Just a thought.
This is another repeat post folks. JR had an interesting response to it when I put it up. I wanted to take this time to put this information out as I believe it to be of importance in the discussion of: a) Negative real interest rates and the ongoing conversations that have been taking place concerning this subject at various central banks and high level forums and as discussed by Willem Buiter on his Mavercon blog at the Pink Sheet (see links). b) After Sweden did a test drive of this concept, limited to bank reserves held by the central bank now is the time to ensure this topic gets some swirl given their issues with pumping out cross border lending to CCE and the Baltic's specifically and how these issues reflect structural issues throughout the international system. c) The continuing conversation as to what the fed and the bank of England may do next since QE is not having the desired or expected effects (outside of the worldwide experience of neurotic markets) since these officials are clinging desperately to the notion that we are facing a simple crisis of confidence rather than one of solvency and credibility.
The post.
Over at the Pink Sheet Willem Buiter has addressed this topic on his Mavercon blog. This first entry discusses "There are three practical ways to implement negative nominal interest rates".
http://blogs.ft.com/maverecon/2009/05/negative-interest-rates-when-are-t...
The second post dealt with what WB calls "The purpose of the exercise is to eliminate a silly asymmetry in the monetary policy arsenal."
http://blogs.ft.com/maverecon/2009/05/the-wonderful-world-of-negative-no...
The third entry WB has this to say (With some math I am sure CB would have something to add to). "But there is nothing at all strange about a world in which you put a dollar in a deposit account and get back 95 cents after a year. With a bit of luck, we may even get used to having such a state of affairs prevail from time to time."
http://blogs.ft.com/maverecon/2009/05/negative-interest-rates-sharia-law...
One thing is clear, the topic on negative interest rates has been discussed at various central banks and other high level forums over the course of this year.
As mentioned up top, JR discussed Eric "Klipping" V - The King of Denmark (1259-1286) and his history concerning ”clipping” of the coin.
Thoughts anyone?
and for a look at the latest headlines and news from Sept. 6, 1930
http://newsfrom1930.blogspot.com/2009/09/saturday-september-6-1930-dow-2...
Thanks for posting relevant information instead of being another vapid financial "news" toilet. Could you follow-up on the reported internal ratings-agency e-mail about "Hope we are all wealthy and retired by the time this house of cards falls."? What kind of prosecutions have come from that admission and how far up the ladder does it go?
What ever happened to PPIP ?
Mortgage rescission
http://www.insurancejournal.com/news/national/2008/07/07/91590.htm
Banksters won round one
http://www.law.com/jsp/article.jsp?id=1202424898392
They are running new laws through congress to avoid this...it would be a good subject for ZH to look into.
What Reg. Z says (12 C.F.R. § 226.23(d)) is that when a consumer rescinds a transaction, the security interest giving rise to the right of rescission becomes void and the consumer is not be liable for any amount, including any finance charge (ie. interest or closing costs).
http://ezinearticles.com/?TILA-Mortgage-Rescission-Complete-Defense-to-F...
More on the situation in the Pacific: does Taiwan sense a power shift in the Pacific?
http://www.asianews.it/index.php?l=en&art=16245&size=A
Taiwan renounces quest for a seat at the UN
It's the first time in 17 years. But the president will not submit the application because of the "overall situation". The request to the UN has always been rejected for firm opposition from Beijing.
Taipei (AsiaNews / Agencies) - Taiwan will not request to be admitted to the United Nations this year, for the first time in 17 years. This was announced yesterday by James Chang, spokesman for the Foreign Minister, who has justified the decision of President Ma Ying-jeou with a generic reference to "the overall situation”.
For 16 consecutive years the island has applied for admission, always denied by the firm opposition from Beijing, which regards it as part of its territory and hinders any recognition as an autonomous international actor.
Seems to me they may well be looking ahead a little while to when China is the dominant economic power in a world devastated by a derivative and debt repudiation avalanche. Signs are already there on China's willingness to push the pebble that begins it (see early post on notice given to banks.)
Nobody here gives that serious consideration because, it seems to me, we view the proposition through our Master of the Universe blinders and say "it would hurt them as much as it would us." So it would be insane, right?
Well that depends upon their view of the alternatives. First, should they continue to pay for the frauds we perpetrated against them . . . espcially if they don't expect the net on the Treasuries they hold to be greater?
Would they renounce their vision of becoming a great western-style economic power?
Funny thing about power is that it is a fundamentally relative thing. Consider the fact that the average middle class, dept pressed, overworked and underpaid American still enjoys a lifestyle in many ways superior to what Louis IV enjoyed. The question here is how much a "catastophe" would affect them compared to us.
Fact is, much of their society is still at the feudal level. Cutting us out of the equation would set them back maybe 20 years of development, assuming they can't hold onto what they've achieved wholy on their own, but it would reduce our society to virtual ruins, setting us back a good 100 years in relative terms.
What's the "net" on that proposition--from their perspective? Especially when their chances of further gains from involvement with us become poorer by the day?
They're already setting up new economic alliances around the world.
Hey, if I were Taiwan, at this point China would look like a much, much better bet . . . especially if I had insider info on China's plans.
I know, there are plenty of ommissions in this view and it is therefor easily open to objections and "disproofs," but in large, general terms it makes sense to me.
Interesting perspective...
Nukes are passe and mutually assured destruction is, I suspect, no longer assured.
Funny thing is that we'll blame them for refusing to continue playing our victim.
Were is the benefit of being a 'great western-style economy' after all this was an illusion based on lies and fraud.
The development is more the inverse. The West is becoming feudal again. Thanks to corporations who work in a fundamental anti-democratic way. In historical dimensions, democracy is an aberration or an exception and not the rule. The idiot Americans may have just gambled it away.
Economically China is just a US-style Ponzi economic but on a potentially (larger) scale but with the same end result: epic fail.
So yes China will be a large player, but it would be a mistake to believing that they will follow the path of Western democracies. They have repeatedly stated that this is nothing for them.
The trades that are getting really crowded.
http://capitalobserver.blogspot.com/2009/09/crowded-trades.html
yet another interesting site
The “Missing” Berkshire Hathaway Letters (1969-1976)http://stableboyselections.com/2008/08/25/the-missing-berkshire-hathaway...
and this from dShort
Is the Stock Market Cheap?
thanks much for the missing Berkshire letters....they are a fun read!
I wish to take this opportunity to humbly thank TD and ZeroHedge for their awesome work on behalf of the public good, as that is what it most certainly is, lacking any true media today in the USA.
Also, thanks to Prof. Michael Hudson, the most brilliant macroeconomist in the Western Hemisphere who so completely comprehends what is transpiring today. (Likewise, thanks to Prof. James Galbraith, Nomi Prins, Catherine Austin Fitts, Pam Martens, et al. for their incredible contributions in their attempts to keep our society from completely disintegrating - which will probably shortly occur.)
However, imperial overstretch always claims its
victims and the usa has passed that point of
no return....
Just got off the phone with god and he says we GOTTA trust him. what do you guys think, is that a buy or sell signal for the dollar? He sounded pretty desperate.
Geithner is just a skid mark in satan's leotard..
ok... i'm not kidding now. since goldman sachs are the greediest mofo's on the planet, why don't we all weather one unpleasnat moment and gladbag our next pile of shit and fedex it to them. the "brightest of the bunch" surely will find a way to slice and dice and repackage it and then sell it as sugar and spice to some unsuspecting asian or brit or even some californian pension fund.
This website is quite the rabbit hole.
Keep up the excellent debate.
Wow, I need to read the comments more... amazing number of nutjobs who read this site.
Somebody's cranky today! Still plagued by insomnia, Cornelius?
Seriously, now you know that we can't be left unsupervised . . .
with all due respect Dr. C, in just about 9 weeks you have published a grand total of 25 articles (some of which are mere copy and pasts links- e.g. http://www.zerohedge.com/article/cnbc-stars-onion
Moreover Project Mayem in a single article appears to have attracted more comments than all of your articles combined. So here is a question: Does Tyler keep you around becasuse of your Bloomberg Terminal subscription? :)
You actually bring up a good point - it's been great to see some of the content from our contributors. Some is good, some is not so good but overall a positive addition.
Re: user comments - I'm not sure when we started measuring success by "user comments". If that's what I was aiming for, it's a pretty simple recipe to bring the nutjobs out of the woodwork rather than just doing commentary on dry macro market issues.
If you have issue with the content of my posts, feedback is always welcome. Otherwise, there are many more generic finance links out there for you to post in article comments for people to ignore.
nice come back
LOL
Oh he's just dying for a flag as junk. LOL
we need a new article or a new open thread ASAP. Going trough this comments is like swimming in the Atacama. Impossible.
Do you know Tyler Durden?
vaguely
(just a timely movie quote, CB)
a lot of controversy but his last name is IVANDJIISKI- he was interviewed on Bloomberg Radio back on August 20
http://media.bloomberg.com/bb/avfile/Markets/Analyst_Calls/vrT.qGWIoYPk.mp3
There's a lot on people's minds apparently
http://www.cnn.com/2009/WORLD/americas/09/06/mexico.us.slayings.arrest/i...
Go along to get along, fighting systemic corruption can be lethal. Get rid of the rule of law and its defenders as fast as we can in order that we can get back to the pillage and plunder ASAP.
Much easier to take by force or intrigue, than to earn in humility and free exchange.
Love these lyrics, would that they could be upheld.
What man or woman is upright anymore?
O beautiful for glory-tale
Of liberating strife
When once and twice,
for man's avail
Men lavished precious life!
America! America!
God shed his grace on thee
Till selfish gain no longer stain
The banner of the free!
O beautiful for patriot dream
That sees beyond the years
Thine alabaster cities gleam
Undimmed by human tears!
America! America!
God shed his grace on thee
Till nobler men keep once again
Thy whiter jubilee!
I wonder is anyone brave enough to tae a crack at a summary post of this unbridled thread?
What have we learned? I would be interesting, albeit impossible.
Cornelius already did a few posts above
There is a very interesting assortment of people on ZH... and kudos to TD for allowing it to happen... pretty brave on his part... and Cornelius I really enjoy your articles but I don't think anyone is really a 'nutjob' on this site (OK maybe one or two).... they just may have some ideas that are extremely left/right of center that some may not agree with... remembering of course that the center is not static... and it is fun to throw out interesting thoughts and ideas for others to debate... you don't want your world limited to people who think just like you... that would be a really small and uninteresting club...
So Tumbling Dice... my summary ... this thread offered a chance to experience the juxtaposition between seeing the blank wall of people as they move through their daily monotonous lives versus authentically seeing who may be on the inside but may never show anyone.
Additionally, it was an interesting microcosm of human interaction and a diversion from the Saturday night dinner out/movie scene... with Marla's music playing in the background.
well said. No need for a supplemental liquidity provider of authenticity here. I've got faith Minnesota, that it will make it out unto the real world eventually.
Minnesota....your first paragraph is perfect. I wish that I had written it. Kudos!
Well done.
http://www.cnn.com/2009/WORLD/americas/09/06/mexico.us.slayings.arrest/i...
Go along to get along, fighting systemic corruption can be lethal. Get rid of the rule of law and its defenders as fast as we can in order that we can get back to the pillage and plunder ASAP.
Much easier to take by force or intrigue, than to earn in humility and free exchange.
Love these lyrics, would that they could be upheld.
What man or woman is upright anymore?
O beautiful for glory-tale
Of liberating strife
When once and twice,
for man's avail
Men lavished precious life!
America! America!
God shed his grace on thee
Till selfish gain no longer stain
The banner of the free!
O beautiful for patriot dream
That sees beyond the years
Thine alabaster cities gleam
Undimmed by human tears!
America! America!
God shed his grace on thee
Till nobler men keep once again
Thy whiter jubilee!
"Christ, the excessive patriotism of a self-mythologising people is so incredibly embarrassing to witness. How anyone can take execrable, puffed-up, narcissistic wank like that even slightly seriously is quite beyond me."
A reply to JR: I guess if I was a GS partner I would love communism. I find it very starnge that some people still believe (in the middle of zh which is mainly populated by reasonably smart,albeit pessimist readrs)that the goverment has anyhting of a communism in it. I guess this is also some of the headfakes that they manage to produce(beside the s&p headfakes). Arn't those the same czars who made sure that GS employees get higher bonuses than last year?arn't they the same czars that mede sure that Andrew Hall makes 100 mil using C taxpayers supported money?unless u think that actually Mr. Hall is a prototype of Angeles and he is going to use this money to finance the communist party, I don't see where those communist czars are.