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Some Painful Truthiness From Paul Volcker
Guess the old man is not going to fill Larry Summers sweaty shoes:
- Volcker: "So Difficult" To Dig Out Of Recession
- Volcker: Will Take "Long Time" To Repair Economy
- Volcker: "Underlying" market problem is "too big to fail" issue
and FTW:
- Volcker: Mortgage market is "absolutely broken"
Someone please tell Obama to turn the volume on Geithner off, and to start listening to Volcker. Please
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I hope baby boomers like the taste of cat food.....
+1
See the performance of PETM shares. Apparently, boomers will stop spending on their children, sorry pets, last of all...
There won't be any cat food left for Gen X once the Baby Boomers are gone. Gen X will be pining away for that good old delicacy as they look under rocks for their food.
I'm part of generation "Get the fuck out of dodge and pioneer in greener pastures".
Screw cat food. $4/day at the dollar store gets you all you can eat and drink. People food is cheaper than cat food, and presumably tastes better.
Watch the movie FOOD Inc. to gain an understanding of why and worse...how this is possible and Cat food will appear to be a treat.
Great documentary and reinforced why I should buy local (and organic) whenever I can.
I personally stockpile mucho cans of tuna and boxes of Kraft Macaroni and cheese . That with a propane torch and jug water is all that's needed to live large. Residing in earthquake country, when the big one hits I'll be serving the entree and side daily to the neighbors in exchange for their gold and silver coins. None are prepared.
I'm a fan of canned food with long-off expiration dates. My core emergency food holdings are not dependent on water and heat to eat. Love dutch oven cooking when camping, and figure that in a local or broader emergency situation, it could come in handy. Wood is plentiful, butane, propane, etc. possibly not.
If you are going to store H2O, don't skimp. Had bought some el cheapo store brand water bottles, and went to start rotating them just a bit ahead of their expiration date. In just a little over ayear, the plastic had gone brittle, and one point in the seam on every bottle had developed a hole, and small amounts of lovely blackish green gunk was floating around in them.
Hope I never have to break them out in earnest, but just in case, as I'm not willing to risk my family's wellbeing on just in time food delivery.
Rag
Do you mean the stuff in the can or a skinned tabby ?
Inquiring (and very sick, I might add!) minds wanna know!
GRANDPA
http://williambanzai7.blogspot.com/2010/09/grandpa.html
BTW, Geithner and Obama are both Gen X
classic banzai...also love the Mt. Flush More
Surprised the old man is even allowed on this team. A quote for your collection - responding to a charge of declining influence: "I did not have influence to start with."
Google "paul volcker no influence" and you'll get 17,400 hits.
BTW, Google "tim geithner genius" and you'll get 65,600 hits.
P.V. is a "hero" with 32,100 results, but T.G. 146,000...
Yes but if you type in "Tim Geithner is ..." Google only gives you one suggestion:
Tim Geithner is ... an idiot
"Geithner asswipe" gets 10,800 results.
Hilarious...
"geithner obama bromance" = 33,400
He's just angry because he wasn't invited to the party.
They know that he'll just ruin things.
You mean he will ruin what they already have ruined?
what if you google "Tim Geithner elf-eared moron"?
For what it's worth, I got "About 3,590,000 results" when I googled "tim geithner go perform a sexual act upon yourself"
straight from the no shit sherlock files.
Volcker is aways forgotten when these corporate shills praise Reagan and bash Carter...who appointed him to the post in the first place??? mmmm i wonder
Yes, Carter appointed him, but Reagan stared down the cries to replace him. They both deserve credit.
wow who would have thought stating the obvious would impact the market- we must give this broken piece of shit way to much credit for being "efficient."
We <3 you Mr. Volcker.
Please be careful about flying via private aircraft, and around hot tubs.
It didn't take very long for "hot tubs" to become a favored meme for "rubbed out", did it?
True.
Next month the Hot Tub and Recreational Bathing Association of America will be running full-page ads in major markets refuting the idea that hot tubs are in any way inherently lethal. "We are not a tool for murder in the hands of ruthless oligarchs bent on suppressing truth in a democracy. Really. We're hot tubs. Just hot water and bubbles. We're actually a lot of fun. Come on guys give us a break here."
Isn't Volcker getting to that age where he less likely to be believed... because he could possibly be senile?
Not exactly.
The term "senile" is used for those who are poor to middle class.
"Eccentric" is used when one is reasonably well enough off to threaten the newspaper or TV network who dares to call you senile. Or who can afford the full time lawyer who will do it for you.
don`t stop Reagan from getting elected to 2 terms.
and most republicans still worship at his alter.
And that alter is worshiped at a minimum every other year around elections. Jack Welch, the ultimate sucker upper, mentioned his name 4 times on CNBC in the half hour I listened to this morning while getting ready for work.
Reagan will be a deity by 2012. Which means they'll need to exhume his body for burial in the Great Pyramid.
http://en.wikipedia.org/wiki/Jack_Welch
I'll bet Reagan's hair is still jet black...
"Government doesn't solve problems; it subsidizes them". ... R Reagan
I hated that fucker. Couldn't stand to even look at him. I hope they buried him with a stake through his heart. God grant he lie still.
Obama cannot hear, only smell... the money filling his pockets as he gives taxpayer money to GS and folks.
K? Bye!
Reality Check: WHO gave money to Goldman Sachs? Hint: NOT OBAMA.
Volckers policies forced interest rates to 21% , next up the cabal tries Gold manipulation gig, to drive rates down to 'affordable' levels. Volcker killed housing. Now Low wages from immigration to imports has again killed housing , the US consumer.
All these people need to be replaced.
Buy house 100k. Pay 250k. House degades to 80k worth of value over the 30 year payoff. What's broken about that?
Let me see here. As soon as you sign the mortgage papers you instantly create 100k into the financial system. YOU create this by your promise the banks just print the money for ya. But the banks get paid back 250k. Only you didn't create 250k. You created 100k.
I just can't for the LIFE of me see exactly what could wrong with that sytem. But what I am certan is that Voker understands this and is lying out of his little weasle ass.
The hard but correct choice that must be made is to get this dead weight of a banking system off the public dole. It is eating up our entire GNP for decades to come and it is still not working right. End the experiment in socialism. Fund the FDIC and let these banks die.
A public official giving an honest assessment of our financial situation?
Everyone knew truth hurts. No one knew quite how much.
More truthiness please.
We don't want truthiness. We voted for hopiness and changiness and there is going to be hell to pay if we don't get it.
Word!
Couldn't help but post this from the FT :
"Henry Kissinger once suggested that Lawrence Summers, Barack Obama’s outgoing economic adviser, should be hired by the White House solely to shoot down bad ideas. In a few weeks, Mr Summers will move back to Harvard where he will be able to think up good ideas"
and
"There is barely an economist in the world who would deny that Mr Summers has a bigger brain than they do"
Almost choked on my cornflakes.
http://www.ft.com/cms/s/0/0611a72a-c66f-11df-8a9f-00144feab49a.html
That may no say a lot about Summers but speaks volumes about the economists
I love the MSM. Here we have Larry the Hutt, king of destruction. A long history of destruction and bad ideas but the MSM has nothing but glowing things to say about him. About the best thing about him is falling asleep in meetings. At least when he is in a diabetic coma he can't create the normal level of damage he does while he is awake.
Can I play Larry.
White House. Why don't we try an honest financial system that makes sense.
Larry- That's a BAD IDEA. You don't want to even TRY THAT.
Too bad that big brain comes in such a small container....
Head-shrinking meets mind-expanding drugs! :>D Kinda like 10 Lbs of poop in a 5 Lb bag!
Maybe he should try shorting Gold to give the appearance that all is well.
"There is barely an economist in the world who would deny that Mr Summers has a bigger brain than they do"
No wonder the world goes from crisis to crisis... scary!!
Because it's planned. You can't have this many identical "crises" over this long of a time period and not know this is intentional.
Some truth from "Gee ain't the CFR grrraaand" Volker:
We've taken everything else of value so its time to hand over those gold fillings!
"Volcker: "Underlying" market problem is "too big to fail" issue"
Isn't that precious, from the guy who started the TBTF doctrine (see: Continental Illinois).
Wrong!
Volcker started the 'good bank/bad bank' doctrine ... Who knew that they'd run out of good banks so soon?
Bad bank/worse bank doesn't work near as well. See Citi, BoA, JPM and (gasp) WFT. :-)
They're going to a color system next.
The beige banks get to absorb the mauve ones.
See? That's financial system innovation at work right there, it is.
You, sir, are a genius. Cougar for president! A cat you can believe in.
Damn straight! And none more of that hopey-changey stuff in my administration. It's all fangs and claws and ripping spleens out in the Rotunda, mo'fos.
And naps. And salmon. But yeah fangs and claws mostly.
Hang on... you eat FISH?! Vote for the other guy!
Throws his hat in the ring.
How about the banks that shorten down to 3 letters get to absorb every other bank.
Haha your so fucked deutsche bank and credit suisse.
What color is beyond the "red-alert" phase?
Just love the word "truthiness". I also love the truthy nature of Volcker calling out the TBTF's.
Stephen Colbert on the comedy channel dubbed it "the word", if memory serves.
http://www.colbertnation.com/the-colbert-report-videos/24039/october-17-2005/the-word---truthiness
Would you buy a used car from Geithner?
Wouldn't he look more the part in a Pinky Lee checkered jacket?
http://www.tvshowmemories.com/PinkyLee/1x.gif
That reminds me : wasn't he trying to sell a house too? Did he offload that?
Paul Volker is a member of the Pilgrims Society.
http://www.nndb.com/people/220/000023151/
Meet the World Money Power, free online book (PDF) by Charles Savoie
http://www.silver-investor.com/charlessavoie/cs_dec04.pdf
Pilgrims Society membership list.
http://www.isgp.eu/organisations/Pilgrims_Society_members_list_AZ.htm
Mr. Volker is also a Bilderberger, a Trilateralist and a member of the CFR.
http://www.biblebelievers.org.au/bball.htm
And he still knows things, 'magine that. There is a need for all voices regardless which side of the inside looking out, outside looking in paradigm one falls.
Volcker = Constituency consultant and prop since he doesn't play at Bernie's on weekends anymore.
Volker took the heat, but he did kill inflation. Bernanke is too gutless to hurt his pals that need their daily fix of ZIRP.
Bonuses all 'round gentlemen, bonuses all 'round.
Being the chief economic advisor to HUSSEIN HOPENCHANGE is like asking to be executed at some future date. Volcker knows what's happening. Sharp as a tack at 83. He can't save this mess.
Yes, fighting the laws of Mathematics (expotential functions) Physics (gravity) is a real bitch!
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