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Ron Paul: "The U.S. Government Must Admit It Is Bankrupt"
Any time you bring the two Pauls together in an interview, and start discussing items such as the debt ceiling, government spending, and monetary policy you know the results will be good. Sure enough, in this rare ABC interview with father and son, the sparks fly, and among the topic touched is the most popular story on Zero Hedge from yesterday, namely President Obama fabulous hypocrisy, who after bashing the debt ceiling as a senator 4 years ago, has bet the outcome of his entire economic policy on maxing out every single credit card available to him. Paul's response: "we have to face the fact that we are bankrupt and we can't pay our bills." Not exactly the kind of thing one wants to hear if one's name is Hu Jintao. That said you know the Paul-led interrogation of Bernanke will be something else, even if it is ultimately totally fruitless.
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I believe it's the Fed that would 'break up' first under your, 'libertarian ruse', Dork. I am none of your options, being other than American, and self employed at this time.
Have you read any of the good doctors' books? Let me recommend a few...
Yes, competing currencies. Look into it. It's not unachievable. What's unachievable is any kind of sustainable fiat currency, because it will always end up being debased for the benefit of the government and its cronies.
Listen, Dork (I love saying that), even though I'm a big fan of silver, I think your idea just creates another fiat.
Also, WTF is this?
And then, this? Pass the hookah, dude.
I am trying to be constructive - and therefore it takes more then just running around screaming freedom freedom freedom , guns guns guns , silver silver silver.
If you do not have a poltical / economic mechanism you do not have a society - humans have the ability to converse because they needed cooperation - without a village, town, city or state you are nothing.
There is nothing romantic in Lone wolfs - they are social outcasts that die young , we are primates so we need to pick the nits off our fellow primates to engage in constructive cooperation - this is just the way of things.
The Internet just gives libertarians another illusion of self love - get over it.
This country is far too medicated, sedated, placated, and incapacitated.
I've been waiting 3 years now for a nut case to shoot Bernanke so that Jessica Alba would fall in love with him.
Forget it. Hot chicks hate dead guys.
Well, he would be a hero if he shot Bernanke. He'd be crazy if he thought it would make her fall in love with him (because she is already in love with me).
Yeah? You'll just have to come up with some other way to dump her: http://1.bp.blogspot.com/_pLmMug9YFkw/TPC86tNvlEI/AAAAAAAAC8Y/EBejGae3K24/s1600/jessica-alba-back.jpg
oh.yeah.
How about kick the can up the road. Let private companies make competitive bids for every possible federal function that can be outsourced. Budget balanced. Thank-you very much. The competition would be fierce.
HarryWanger told me he'd bid for the TSA contract.
Well, Rand "Mr. Tes Party" Paul is already getting set to cave on the whole "debt ceiling" thing:
http://market-ticker.org/akcs-www?post=176610
So getting back to the more substantive part of the thread here, the jello-wrestling discussion ... you don't drain the jello from the kiddie pool and toss it, dude - what do you think goes into the jello shots? Hey, once you re-melt it and add vodka, it kills all the STDs ... or you freeze the resulting mix and enjoy a delicious "taintsicle". Yum.
Big caveat to his statement:
"I’ll vote to raise the debt ceiling if we attach a balanced budget rule to it. If they say no more debt will be added and from here on out we’ll balance the budget, I’ll vote one time to raise the debt ceiling.”
No way we will see a balanced budget rule. Let's see if he is true to his word.
If the rethuglicans stand up and refuse to lift the ceiling(which of course they will not) It would be the same as when the first tarp failed, the market would drop 800pts, instead of GWBush and "the hills have eyes" paulson telling us the world is about to end shortly unless we do exactly as they say, It will be Barack and Timmy and Ben? telling us the same shit.
http://stateofthedivision.blogspot.com/2008/11/tarp-goes-peu.html
http://www.best-horror-movies.com/the-hills-have-eyes.html
If they truly want to be taken seriously...
Rand really should cut back a bit on the eyeshadow.
Meanwhile, Ron could use some concealer for the dark circles under his eyes.
Otherwise, go Pauls, go!
Yes, we have some makeup issues, for sure. Rand may need some heels too.
Or Ron could simply kick off his 5" stilettos and instead opt for some sensible flats....
Cosmetic suggestions from a person wit a sock on da haid? Can this farce get any more comical?! :>D
FYI, that's my pets.com sock puppet -- free to shareholders with 100 shares or more!
Not that it's any of your business, of course....
Geithner is an asshole.
Geithner is an asshole.
It's a sentiment I can bear seeing repeated.
.
Never before in the Domestic Monetary Policy Subcommittee has Ron Paul been able to deliver the full, unvarnished truth about the Federal Reserve—without someone saying “your time is up,” "we don’t want to go down that line of questioning.”
This truth will be more than fireworks, more than theater, more than wishful thinking, and, perhaps, more than the party leadership is expecting. I, for one, expect major developments.
The Chairman of the Subcommittee can make his own statement and no one can shut that microphone off. Bernanke’s appearance, no matter what, will guarantee news coverage. Paul doesn’t even need to ask Bernanke anything; Paul himself can tell us what the Fed chair's been up to. Personally, I think Ron Paul is capable of nailing him; patriotic insiders are going to feed Paul the information he needs, IMO.
I believe Ron Paul is so worked up, so serious, that this is not some kind of political lark for him. This is his country, and I think we’re going to see more than most people understand.
Don’t forget, the Subcommittee has jurisdiction over the valuation of the U.S. dollar, commodity prices, and financial aid to industries in addition to domestic monetary policy. The truth revealed, IMO, is going to be…unbelievable.
Dream on.
Unless you know what Dr. Paul is going to produce, then your frightening pessimism is misplaced.
That warmed my heart, JR.
I expect Bernanke to stonewall. I also expect limited coverage here in the US. More likely that the Chinese and Japanese will be watching the proceedings in abject horror as Bernanke stutters, stammers and refuses to answer.
The Bernank has already been down the "I don't recall" road. Only a little more of that will be tolerated without being in contempt it seems to me. That would be a major move on Dr. Paul's part -- and welcomed.
Good luck on that contempt issue. If I was Zimbabwe Ben I would have prepared statements, several of them. When asked a question I would pick a statement, really could be any of them. Read about 10 pages of long winded banker speak that goes no where. Idea being is the masses won't know what I'm talking about and maybe I can stall for time. Get Greenspan to help, he was the master of meaningless Fed speak.
The real danger of "I don't know" is again the Chinese and Japanese watching it and swearing under their breaths.
If was Dr, Paul I would just hammer at him and not really ask questions. Armed with the disclosure about the from the Frank/Doff nightmare I would really get on him about McDonalds and just hammer on him and try to break his composure "Where in your mandate does it allow you to lend to McDonalds? Are you acting outside the mandate and therefore unlawfully?" And just hammer at him over and over again. I'm not sure Ben is made of stern enough stuff to take a directed attack. I would also call him as many times as I could...daily if possible.
The Japanese and Chinese are too busy spending their USD stash on resources to get up and change the channel from BNN to CSPAM
I could give you China but not Japan. You think they don't realize how crazy our leadership is? They know full well how bloodthirsty they are, and they are not happy about the large military force there. They literally have a gun to their head. China will probably get out, Japan will be forced to go down with the USS America and the iceberg Megadebt.
I'm not thinking that Japan has any room to talk, given their record over the past couple of decades. I suspect that they're firmly wed to the US and they all know that they're screwed if anyone falters. Pretty much as you say...
They will not be the only ones watching.
I can't wait. And wouldn't be surprised to see another 1000 pt mid-day drop on the DOW as a warning shot across the bow.
On any hearing, let's see if he calls on Dennis K. from Ohio. The rubber meets the road.
Fish or cut bait time. Milestones
But who would air it?
I applaud your optimism, but I have serious doubts the MSM will cover him at all nor will the mindless masses heed his words.
I dealt today with the unwashed mass known as my only tenant in the only property I rent out. The man is so patently stupid, uninspired, selfish, ignorant, devoid of any education, understanding or sense of propriety that I wonder how he managed to make it this far. Then I remembered that he works for wal_mart and that his wife is an overweight, gigantic sore on the ass of the public, trying desperately to get on disability because she's too fucking lazy to work or feels that she's somehow owed a better life and thinks she can screw me out of what anyone in their right mind would consider the deal of a lifetime.
I offered these two cuckoos $400 a month rent on a decent house in a decent neighborhood over five years and I sign over the title. Wouldn't you know it, before one year has passed, they're in default. Other than that, they're just swell people, but it leads me to believe that America isn't worth saving at this point. For what? For morons like these who know nothing but the next handout? There are literally hundreds of millions of them living within our borders.
The bankers are on the right path. Plunder and pillage. The commoners know not even what they rightfully own.
If you knew all that and still signed over the title, you may not be worth saving.. Most landlords as you have discovered screw themselves good and hard.
Seriously though for a minute: if Rand is serious about $500 billion, then how does he do it? You've got the Big 4: Soc. Security, Medicare, Defense, Interest. You can't do much about interest payments, and sudden withdrawal of money from Social Security and Medicare is going to be an Elder Holocaust. So are these New Republicans really going to follow Papa Ron Paul's idea and close down the Empire of Bases? Seeing would be believing. It is interesting to see someone like Rand actually use the U.S. income figure of about $2.2 trillion, since The Boner tries to stay away from specifics like that because he doesn't want to cut defense. Currently Russia spends $40 billion and China spends $77 billion. Maybe Rand could sponsor a budget amendment to make our defense budget (counting EVERYTHING that really is defense) = (R+C) x 2. Boeing, Lockheed, Martin Marietta, United Technologies could begin building theme park rides as a new line of work.
I don't know how they're going to do it, but the number will make their heads spin around for weeks.
Well, I mean you've got bases in Italy. Italy? What for? Still waiting out those remaining pockets of German resistance? Talk about entitlements, the defense industry is the biggest collection of welfare deadbeats there is. Puts these multi-generational dole families in Britain to shame. Nobody talks about it though. You can never talk about it. Fucking trillions of dollars and they can't even defeat a rag tag collection of tribal warlords with soviet era kalashnikovs and homemade bombs. A fucking decade of this shit and what have they accomplished? Fuck all.
The ceiling, the ceiling, the ceiling is on fire.
We don't need no water let the motherfucker burn.
Burn motherfucker burn.
Dr. Paul + Dr. Paul = Hope, Change, Solutions & Common Sense
You are the first person I've ever junked.
Don't junk Davos. He's one of my favorite red pill suppliers.
Looks like YOU picked the wrong week to stop drinking!
Looks like I picked the wrong week to quit sniffing glue.
Shoot, I also gotta stop huffing all those aerosol cans too!
You left out the ending "..that we can believe in. OH YES WE CAN"
Dr Pauls = unbent truth.
I think it is always worth the time to listen to either of these two gentlemen.
May The Almighty God above who is the creator of the universe bless, protect, guide and keep close both of these fine gentlemen all the days of their lives. May each of us be a partner in that mission.
We do not have to look too far or very hard to see what has happened to other great American leaders who have preceeded them in taking on the constitutionally illegal entity known as an American central bank.
Please, get the word out. Ask friends and family to pray for these two brave American Patriots. Godspeed and good luck.
You are the second person I've ever junked.
Good night, folks.
jm, I consider that to be a priviledge here in the ZH fight club!
Although I won't junk you back I will taunt you with the following:
"The fundamentals of the economy are sound"
"we will not monetize the debt"
"it's all good for stocks"
So, I suppose you will be loading up on index funds while shorting PMs? Yeah, good luck with that in 2011 (blatant sarcasm).
I had no such scruples! Junks for jm; everybody dogpile!
+1 You're the best StychoKiller! Cheers!
Ain't nothin' but a g thang baby.
To cornpone reps gone crazy.
At the same time with the dope rhyme that they kick
You know, and I know, they flow some ol funky bullshit
You never know they could be earnin' them baggers,
And learnin' them baggers, and at the same time burnin' the baggers.
They's peepin', they's creepin', and gettin' blowed by the posse.
Crooks damn near got caught, but folks don't know shit from pussy.
Now that's realer than real-deal Holyfield
And now all you ho's know how I feel
Well if it's good enough to get broke off a proper chunk
I'll take a small piece of some of that funky stuff
Dear jm,
I sincerely mean this (no sarcasm, honestly). I truly feel for you, my fellow human being. I do know how you feel.
It does not have to be this way.
It can not go on this way.
Prepare yourself mentally and physically....keep yourself off of drugs, easy on the drink, watch your weight, secure the sanctity and safety of your immediate family (tell your spouse/children/mom/dad/whomever that you love them), and do some kind of exercise every day (reading your Bible/Torah/Koran/Whatever-you-believe-in would be a plus).
Remember that a weakened American makes for an easier fight. I WANT you to be TOUGH and STRONG. I want you, jm, to junk me and challenge me and tell me why you think I'm a total asshole. I want this becuase I believe both my ideas and my ideaLs will prevail when debated openly on such a forum as ZH. If you can prove me wrong, and lead me to another conclusion, then that will ultimately help me and I do indeed welcome that.
I may be your #1 asshole at this moment in time, but I am still a member of your American (and/or global) family, and you are mine. Family is Relative. As far as I know, I didn't choose to be here on this earth with you, and vica-versa, but, here we are....so LET'S ROLL ZH FIGHTCLUB! BRING IT ON BITCHEZ!
Well, this is very kind of you. I certainly don't think you an asshole. You are just naive.
With all due respect and courtesy, you aren't my family. I don't know you. We don't owe each other anything. People look out for themselves and those they love and those to whom they are honor bound. This is how it has always been and always will be. Politicians do not love you. They always have lived off a cut of the skim. There was enough to go around. There's no skim left anymore, so it looks like theft everywhere you turn.
Even if this dynamic duo was pure as driven snow (which is a crock), the rest will tarnish their impact... like dogs pissing on a pile of the white stuff. Frankly, to think that some politician can actually pull this out in overtime is silly. He's talking about a U.S. default. This means so much wealth destruction that your ears would burn if you grasped it.
A lot of what you said is good advice. But I have weaknesses.
Stay real, bro.
love +1
Peace
One can take the American out of the fight, but one can not take the fight out of the true American, and that is why this Paul and Paul video gives me at least a sliver of hope.
I'd thought that we'd already figured that hopium ain't going to cut it...
You forgot my fav, "Keep shopping." (That'll stop those pesky terrorists).
Somehow George W. Bush's mutterings to go out and shop don't seem all that preposterous now... Shop until your last breath! If you don't, then you're going to let your fellow Americans down! See, see, you failed to shop, didn't you? You're the cause of all of this!
NOTE: "you" and "your" is general, not meant to target anyone here/in particular.
The Pauls speak the truth.
Our government is either run by elected representatives like the Pauls, or by the Fed.
We can deal with the debt on our terms, or let the banks deal with us on their terms.
Either way there is wil be pain, but I think there is only real freedom with one path
Dear I Am The Unknown Comic,
I junked you NOT because I am an atheist but because pray is an ineffective means of help to 'getting the word out' for 'Ron & Son.'
I find it more effective to educate people by engaging them in general conversation about the economy and then sneak in a comment about the Federal Reserve NOT being federally owned or regulated. You'll know how effective you are by the intensity of horror shown on their face. Then you elaborate.
It helps to carry flyers with links, info, etc.; or offer to send them links via email.
Of course, some sheeple will reject it because SOFCOM hasn't spoon fed it to them.
Prayer, that's a good one! Educating the public, I argue, is a more effective means of help.
Junk away...I've done my fair share of it.
-Ganja Jane
No junk back to you Ganja Jane. Thank you for your thought-provoking feedback. I make no apologies for believeing in God, so, as an athiest, your junk on me is understandable and I am ok with it. I am taking it as constructive critisicm on how I can better talk to people.
Thanks for owning up to the junk and taking the time to explain....you have given me food for thought, and I like that kind of food the most. I predict it will be the only food deflation we see for many years to come! :>)
Cheers.
http://www.prourladyofemmitsburg.org/prophecyfish.html
I deserve to be junked for this, it is ot, but relates broadly to the American situation, and that of the world.
I think that Rachel Carson was ahead of "Our Lady of Emmitsburg" by a few years, like 30...
I've always found it odd that relition has given instruction to "go forth and multiply" when we're given(?) a finite planet. All the dead fish and other imbalances were guaranteed to occur given humans endlessly multiplying.
Moral of story: failure to understand and live by the fundamentals WILL always lead to ruin.
You are so right Seer. I too have a problem living by the rules/fundamentals/sustainably.
I will look up Rachel Carson right now.
Another warning from much earlier resulted in Our Lady of America at the national shrine. http://www.ourladyofamerica.com/themessage.php
believing in god is a copout. we are connected. find and remove the debris, that hinders your consciousness of the connection. the feedback will blow your mind (hint start with your ego)
+++++++
I've been a Ron Paul groupie for many years and have changed a LOT of minds doing just that.
But I'm gonna pray too, just in case. :)
I am stocking up on food, water, first aid supplies and basic stuff for when the proverbial shit hits the proverbial fan.
Oh, and I buy silver coins...junk silver and 1 oz bullion coins mostly...
Two hands working can do more than a thousand clasped in prayer.
(paraphrasing Bill Lumbergh from Office Space):
Ummm, yeahhhh, I'm gonna need you to go ahead and use your two hands to wash my shirt. Aaaandd, uhhhh, if you can just come in on Saturday and go ahead and hand wash my underwear that would be great. Ok. Oh, and I'm gonna need you to go ahead and come in on Sunday and use your two hands to wash my Hawaiian shirt, because uh, Friday is Hawaiian shirt day, so everybody should wear a Hawaiian shirt and jeans. And, I'm gonna need you to move your office down to the basement, and while you're down there, I'm gonna need you to use your two hands to go ahead and uh, take care of the cockroach problem we've been having. So, ok Milton (I mean asdasmos), if you can go ahead and get yourself a flashlight and a can of pesticide in your two hands, that uh, that would be great...yeah.....
http://www.phydiux.com/bill_lumbergh_soundboard.cfm
I contend that we are both atheists. I just believe in one fewer god than you do. When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.
I contend that we are both atheists. I just believe in one fewer god than you do. When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.
I think we're all agnostic, for faith is belief in that which cannot be proved.
And it is a gift that can be had for the asking.
The burden of proof is not on the shoulders of the atheist.
"Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God?"
the answer to that last bit is free choice, yours. Shit makes gardens grow, look at Dostoevsky. No pain no gain partner. How does a camel fit through the eye of a needle? Surrender bitchez.
faith is a gift you get if you ask for it.
I think we have a semantic problem. Your 'realized self' is 'God in me'.
Philosophy is questions that may never be answered. Religion is answers that may never be questioned.
The invisible and the non-existent look very much alike.
When one person suffers from a delusion, it is called insanity. When many people suffer from a delusion it is called religion.
people sit around pontificating, on the subject, of divine motive, while they can't adequately explain, their own actions. the part can't comprehend the whole, but if the part comprehends itself, extrapolation, provides the next clue. do the work. getting started is the really hard part.
Great quote.
God / Christ (take your pick) is nothing more than a get-out-of-jail-free card to most people. Lots of folks ignore what's happening thinking they'll be "raptured" before SHTF. They won't of course.
God bless you too Unknown.
Did you know the purpose of humans is to become as God is?
One caveat;
Not everybody gets in the club, you've got to qualify first.
P.S.
God is not a singularity.
Where's robo with a TGT chart?
Robo just postedon the fruadclosure update, says equites might be correcting soon.... no shit!!!! I asked him if his Mom was posting for him...
He better watch it or the govt will turn him into Ironside.
Why do they even care if the debt ceiling is raised the Fed will just make a non-governmental liason department and throw money around for the .gov at their behest. Problem solved.
Bring on that dollar crisis! Please! That's the only thing that will stop the insanity. They asked for it.
Well at least americans have the Pauls to create some drama on TV, the north koreans have to contend with Kim Jung Eun (yea Kim III) to distract them. But its basically the same scenario: trapped in a system that screws them daily front and back and resigned to their fate. Even despots in china occasionally get a kangaroo-trial death sentence to please the masses, goldman gold diggers and ben the chopper pilot are revered as gods by the majority of the american mass media and their contemporaries.
You said it! (agreed)
I have the maddest school girl crush on Ron Paul! Intelligent men that know what the hell they are talking about is a total turn on.
Don't you just love the way he takes notes during a debate.
Sweety, you need to go back to high school and mature some more (or broaded your sexual expirences)..... Ron Paul in bed with a hard on is a visual that is nauseating......
To mr.top hat-
"Mock on, mock on, Voltaire, Rousseau"
There will always be Philistines to mock the sacred.
For most passionate and intelligently thoughtful women of both genders, the passion and intelligence of a 'geek' or 'nerd' trump the shallow skin of the physical beauty forcefully defined for us by 'society.'
so there's still hope for me ?
He (RP) is a terrible speaker, but I tear-up whenever I hear him, it is so weird to hear a politician tell the truth, and I'm not even American.
He (RP) is a terrible speaker, but I tear-up whenever I hear him, it is so weird to hear a politician tell the truth, and I'm not even American.
Ron Paul on Dylan Ratigan Jan 6
http://www.youtube.com/watch?v=SWxV_5WYVH4&feature=sub
What rubbish from Ron Paul - Bernanke QE 2 is not increasing the real debt , he is increasing the currency base.
He has no choice if he wants money to flow - this will increase inflation but not real debt.
Inflation will have to rise to re balance world trade.
It's incentive...enabling...so it encourages real debt.
I don't follow - if you stop spending you stop vital services and therefore civilisation begins to fall.
However if you increase inflation slowly enough then people may have enough time to adapt by living closer to work , living in a smaller house , shopping locally etc etc.
The west is falling because of dramatic malinvestment in capital structures not because some nurse gets paid more then some entrepreneur.
wake the fuck up? There are plenty of revenues going to D.C. Vital services such as say $168MM in bonuses to AIG traders? $20B for Obummer to attend G20? Million $ drones to blow of Paki wedding parties? The $2.3T that the DOD cannot account for?
Yeah, increase GDP by 2.5% by borrowing 13% of GDP? Are you ficking retarded?
+1 Thank you for that QQQBall. Brief and to the point....
At risk of blasphemy.....may I venture out on a long limb to so humbly ask that if our troops were to return from USA war theaters to their humble homes, that such an event would CRASH the US economy?!?!?! What kind of fucktarded logic is that? In such a strawman land of insanity, then I suppose we all ought to be birthing children for the expressed purpose of sending them overseas to fight some war against some invisible enemy called the War On ________ (fill in the blank: top suggestions are #1 Straw Huts, #2 Unacceptable Living Conditions #3 Oppression of any kind as defined by US, and my personal favourite is #4 the right for men to have babies!).
The flaw in the mechanism is that silver is not linked to the monetory base - wall street would not exist in its present form if they continued to revalue silver upwards -
You have to ask yourself why do the banks hate silver and at least the ECB likes Gold.
Because unlike Gold no matter how much you accumulate you will never have a long term monopoly as most of it is below ground.
Once there is price discovery in silver the % amount that a monopoly holder can have diminishes over time and unlike Gold he cannot spin interest off it.
Because it is a inflationary metal it gets distributed throughout the economy and yet you will have to work for it.
Looks like you're another Immediate gratification junkie, a short term non-thinker, likely propagandized by CNN.
Let's find out: If you read that CNN said that: Unemployment dropped spectacularly from 9.8 to 9.4%-----would you believe it was spectacular?
No he is creating inflation and monetizing debt with it. QE creates a market for the debt at a known interval, there is then that much more debt created. The rate at which the bond market yield rises is the rate at which price inflation will take place.
We're fucked. Bernanke is a sleeply looking Con Man. That's why they picked him. To run the biggest confidence game in the world you need someone who looks like they just woke up from a 3 hour nap with a heartrate of 60 bpm and is not worried about a thing. Could you imagine a shifty looking nervous studdering hyper Jew like Hank Paulson trying to get us to relax about QE 2? This is all about calm confidence till the collapse. Ben Bernake is as animated as a wet blanket. Calm, cool, and collected prentending like he's holding a Royal Flush when he ain't got shit but keeps raising just to extend the game and hope reality folds. His contract probably states he's to have a private jet on stand-by with a charter to Isreal for for when the shit hits the fan. I bet he calls his pilot every morning before he checks the gold market to make sure his escape route is still secure.
Hank Paulson isn't Jewish. He's a Christian Scientist.
Paulson is about as Christian as Osama Bin Laden.
That fuck should be serving a life sentence.
It's a damned crime that these perps get leave office are rarely heard from again and the Eric Holder's of this world are told to don't even think for a second of prosecuting them.
And the citizens are left to pay for their frauds while they and their families and friends splash around in the lap of luxury for the next 10 generations.
There is only one solution to it: both barrels of a .20 gauge at 4 feet.
Oh! Fucking AYE! Somebody mentioned ERIC HOLDER AKA THE INVISIBLE MAN.
Did anyone actually see him? He's not a real person, you know. More along the lines of Santy Cluas or the Easter Bunnette!
ERIC FUCKING HOLDRRRRRRRRRRRRRRRRRR the goddamn Attorney General? You mean there are laws in this CUNTRY?
Come out from behind your cowardly junk, Hank.
you just revealed bernanke's exit strategy
If ZH had a thumbs up feature I'd be giving one here. Great post.
Michael Hudson is right, imo.
http://www.youtube.com/watch?v=r2uKt_gTDa0&feature=player_embedded
There is no bankruptcy really, just worthless paper money. Even Obama's people are throwing the term bankruptcy around along with the tea partiers. The debt will continue to go up, but they'll use the bankruptcy scare in the meantime to force cuts to social programs that affect the lower and middle classes.
In 500 years historians writing about it will likely pick 2003 and the begining of the Iraq war as the single most important thing that ultimately led to the insolvency and loss of the reublic in the United States of America.
Actually it was Nixon taking us off the Gold Standard, creation of Federal Reserve (1913) destroying USD's value
Other important events:
repeal of Glass-Steagall (1999) causing housing bubble and Robert Rubin becoming Secretary of the Treasury (1995)
NAFTA (1993)
Beyonce/Brittney Spears ('97/'98)
tiny tim's death (1996)
LBJs "great society" was destructive as well.
The "deficits don't matter" (until they do) also.
That fucking kid from Kansas, Jim Ryun, broke the world record for the mile and fucked up the whole dagnub time-space continuum, forever, the fucking cretin.
--Einstein
jesus h bootleg christ, that's the funniest shit ever.
--Oppenheimer
***delete double post***
RIP Michael Joseph Jackson (August 29, 1958 – June 25, 2009)
US oil production peak, 1974(?). Poor Nixon, everything went to hell under his administration: and, in retrospect, although he was outed as a crook, he actually had a bigger heart than most of today's right-wingers... miss that old kook!
Oil is testing upper resistance. If oil breaks $89 and moves to $90 during Asian trading that would be amusing. Who has the best hand at the table? Bernanke? Too bad there is no such thing as an oil printer.
Asia is dominating the dip buying. They do not care what range the PMs are in any more, they will buy when the equilibrium is at any price.
Oh, yeah, and if you had two heads you could lick pussy and eat at the same time. I think you're full of crap and oil is overvalued at anything in excess of $60 per barrel.
Blow me. With just one of your mouths.
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raise the debt ceiling and keep getting raped in a coma or stop the ceiling from rising and fight it even if it may kill you.
Forgive me if this was posted already -- Ron Paul on Colbert:
http://www.colbertnation.com/the-colbert-report-videos/369835/january-04...
This Leonhardt guy's a real douchebag ....... by the way
I WILL GLADLY GIVE DAVID LEONHARDT ONE MILLION ZIMBABWE DOLLARS RIGHT NOW FOR HIS WEDDING RING. Can anybody give me this asshole's phone number at the NY Times? I want to urgently close this deal before somebody else beats me to it.
MR. DAVID LEONHARDT, I CALL YOU OUT SIR, I CHALLENGE YOU, HEREBY AND FORMALLY.
If you so choose, I can personally deliver my eight Amercan cents to you in exchange for your wedding ring. Heck I will even round it up to 9 American cents, although I am sure by the time I get there, your wedding ring will be worth only 7 Amercian cents when coverted to 1 million Zimbabwe Dollars. You are a total fucktarded asshole and shoud be relieved of your duty effective immediately.
PS, thank you gimli for this great link!
Here's a copy of the letter I just sent to Mr. David Leonhardt at the New York Times:
Dear Mr. David Leonhardt,
I saw your interview with Stephen Colbert on 1/4/11 with Ron Paul. I gladly accept your offer to sell your wedding ring for 1 million dollars of paper currency. I will expect to exchange 1 million Zimbabwe Dollars for your wedding ring with you as soon as possible. For convenience, and also for your financial benefit, I will present you with 9 USA cents, which is more than 1 million Zimbabwe Dollars....so this is for your financial benefit, and most importantly, for your education. By the time we actually make this trade, 1 million Zimbabwe paper dollars will probably be worth only 7 US cents, so I am really paying you far more than what your gold wedding ring is worth, right? Again, regardless of how much less 1 million Zimbabwe paper currency is worth in US dollars, I want to lock in this agreement with you at 9 pennies, coined by the United States of America, and accepted as legal tender for all transactions. So, you should thank me, and make this arrangement as quickly as possible, before your wedding ring is only worth 6 US cents when converted to 1 million Zimbabwe dollars. I HEREBEY FORMALLY CALL YOU OUT SIR. Let me kwow where and when we can make this exchange. You may reply to me at this email. I really look forward to doing business with you. Also, if anybody you know would also like to get overpaid like this on such an offer, please let me know. I am a big time buyer at 9 cents per gold wedding ring! Sincerely,Sorry ZH but I just can't get this out of my head. So:
Mr. David Leonhardt, I hope your wife has just recently delivered to you the most verbal and emotional ass-kicking you have ever known. What fucktard goes on national television and offers to sell his sacred wedding ring for 1 million in any kind of paper? This just really exposes you for what a piece of whale shit that you are. Oh, and since you are a fucktard, I realize I'm going to have to explain that whale shit is the lowest form of shit on the earth because it sinks to the very lowest depths of the earth: you are whale shit, Mr. David Leonhardt, and I look forward to making the business transaction of exchaning your wedding ring for either 9 United States pennies or 1 million Zimbabwe dollars, priced as of today, 1/6/11.
...and, if I may add, a very dangerous douchebag!
bring it!!! I can't believe this guy is still employed!!!
http://theopeningrange.blogspot.com/
Recession 2007-09
Depression 2010-11
Suicidal Stage 2012-13
Adam & Eve era 2014-15
Back to stone age 2016
Yabba dabba doooo!
http://www.youtube.com/watch?v=NAExoSozc2c
http://maxkeiser.com/2011/01/06/real-money/
Ridiculous. Of course they shouldn't admit that. What an idiot.
For those who cry crocodile tears about the coming generations bearing the burden...
1. The selfhish little bastards can always renounce their citizenship and move elsewhere, and
2. Most of them will be aborted and not have to deal with it anyway, a win/win for everyone.
I'm wondering whether you'll have the same sentiment when you're old and can't fetch any food...
I may be a fuck like you, but I'm not a miserable fuck (and when you're old? oh happy days for you!)
We just had a runner come through with a dispatch from the MMT Anonymous Annual General Meeting. They’re meeting in a cardboard packing crate this year for some reason. They sure are trend-setters that lot!
But they wanted to say, quoting here; “...it's both technically and also theoretically impossible for a fiat money system to be ‘broke’. Broke is a nebulous and meaningless term under an unconstrained money system”.
They suggested people should just settle down a bit and eat some nachos.
And, I didn’t follow this part, they wanted to know if anyone had a spare tarpaulin and blankets? I think they were kidding about that bit.
+ a lot of guacamole.
My favorite tag team of all time .....and the last hope for the good guys
My favorite tag team of all time .....and the last hope for the good guys
If the American government stops borrowing soon, and keeps inflating a few percent a year - like America and every other country has been doing for many decades, then 15 trillion dollars will seem quite manageable 40 years from now - especially if other countries are not as fiscally responsible and continue borrowing. True, prices will be much higher, but wouldn't our salaries and assets also be much higher.
I don't see this mentioned much, but it seems relevant to a country's future whether other countries inflate more or less than that country and borrow more or less than that country. It also depends on who is borrowing - government or the private sector.
This is good. But what about those 40 unmanagable years prior?
Yep, that and we still do not have a manufacturing sector.
We are going to fall, hard.
It's not linear. With population increasing and resources declining we're NOT going to see wages increasing to match price inflation. What we're failing to see is that regardless of how the monetary system is behaving it will eventually have to conform to the real world. And for a reality check- 2/3 of the world's population lives on $3/day or less; the law of averages isn't looking too good for those above this level (not like things look good AT or BELOW this level...).