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Ben Wins - Who Loses?
The most significant market adjustment since Bernanke used the "Unlimited" word is not in stocks, bonds or PMs. It's in inflation expectations. Have a look at this chart. Focus on the incredible spike in the past 24-hours.
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The sick part of this is that if Bernanke saw this graph, he would cry with tears of happiness. This is exactly what he was praying for. Ben thinks that inflation is a good thing. That it will cause demand to be pulled forward as people realize that things are going to cost more tomorrow than they do today.
I suspect Ben is right. Higher inflation expectations in the US will filter around the globe. Post the extraordinary steps Ben took yesterday, people will be stocking up on "stuff". Things like rice, flour, cooking oil, soy, wheat and sugar. If you can eat it, buy it now. It will be more expensive in a month. While your at it, fill up the gas tank, the price is going up next week and every week for the next few months.
Ben doesn't care about that stuff. He ignores this altogether. Maybe he's right, after all, food and energy are really not so important to the 7Bn folks who happen to be passing through this decade, right?
Some day the history books will study this period of time and ponder how so many people gave up control of key elements in their lives without ever having a say in the outcome. How could one person have gotten so powerful? Somehow we have anointed Ben as the new God. An omnipotent decider that is nether elected or whose power is somehow checked. Don't think for a minute that he's one of those benevolent gods, he's not.
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I will go out on a limb and say houses will go up 2x in the next 3 years
I was in Tractor Supply today to get bits and pieces. Going by the oil I grabbed a $54.99 five gallon container. I don’t need it now. Just changed oil in the tractors and I have an unopened 5 gal in the barn. I did the same thing in the Carter stagflation and it worked well. As far as the food stuff bought last year, 100% on some of the canned fruit. Take a look at an old used Metro Geo, or TDI, interesting times.
Quick I am running out for a pizza before they reduce the size by half or double the price, OR BOTH!
They did that last time. No longer worth it, I will save the money for GAS
Many of my relatives are Mormons (not me) and over the years I've heard off and on about what they call the White Horse Prophesy http://en.wikipedia.org/wiki/White_Horse_Prophecy
Basically their founder said some day the constitution of the US would be in jeopardy and 'hang by a thread' and the Mormons, who had become a great people in living in the Rocky Mountains would save the country. They've believed this for years.
Hey guys, this looks like a good time to put up or shut up. You've been collecting 10% for decades and have a great deal of stocks. Dump them. Buy gold. Crater this Ponzi and get Obama, Holder, and Bernanke the hell out of there. Obama won't be reelected if the S&P is at 1000 and you have the dry powder to get it done. I don't much like your guy but I'll take the devil I don't know instead of the scroundrel devils we have right now. I was going to vote for none-of-the-above but Ben just changed that. GET RID OF THOSE CLOWNS
<End of Rant>
if the Mormons are going to rise up and save the country, they'll need to get off their prescription anti-depressants first. Utah has consistently been top of the list of these drugs, for years now. . .
your link made me laugh,
http://en.wikipedia.org/wiki/White_Horse_Prophecy#Glenn_Beck
Funny how clown Beck was not at all concerned about the Constitution when the Bush II crew was pushing through things like the Patriot Acts I & II, DHS, TSA, etc., etc..
But I do recall that when he was still on CNN clown Beck likened people who were speaking out about those things(mostly Ron Paul supporters) to terrorists.
Glenn Beck can kiss my rosy red ass just for that alone.
You can crater the Ponzi and get rid of Obama and Benny B but I assure you that it will be the last election you live to see because Mittens will destroy the USA if elected.
boiltherich
You can crater the Ponzi and get rid of Obama and Benny B but I assure you that it will be the last election you live to see because Mittens will destroy the USA if elected.
Not if it the Mormons, and Conservatives have a say.
NO ONE could be worse than what we have had.I DO not envy anyone who takes Obama's place after the damage he has wrought,it's basically not correctable.
BUT, we can damn sure get off our dead asses of Romney wins, and DEMAND that the Patriot Act, and NDAA, is done away with.If not the SWHTF among the base. We have no sway with the Demoncrats, but we will have a say with the conservative Congress members.
Try rereading your post, tell me if it makes any sense to you, because it seems a bit garbled to me.
Obama inherited such a mess, and it was either going to be him or McCain that got to sit in on top of Bullshit Mountain BushCo left behind, two needless wars, hemorrhaging deficits over a trillion a year, a depression and a a burst housing bubble stealing trillions in home equity, a gridlocked government that was run by the month instead of publishing real budgets as the constitution demands, I voted for McCain because I knew that what BushCo did was going to make any president that followed look totally fucked up, better it be on a republicunt than a democrat.
And I do not even like Obama that much, or at all, but I have to hand it to him after 4 years, the fact that we are still at our keyboards 4 years later given what BushCo left him to work with is nothing short of a fucking miracle.
Mr. Magic Underpants on the other hand is the worst person I have ever been given a choice of voting for, he is a clueless closet case fraud that has never worked a day in his life, never known hunger, never lifted more than the weight of his spoiled brats, never had to pay for anything, has a wife that covers for his loser small dicked syndrome, and who if you elect him will fuck you right straight up the ass without hesitation. And I can promise you this, if he is elected it will be the end of the USA. No amount of hoarding or prepping will save your sorry ass because it will die with the rest of us.
" but we will have a say with the conservative Congress members."
If we had a say, it would be Ron Paul running against OBummer. Wake up!
Apparently your brain doesn't function at all. I am surprised that you can tie your own shoes.
Coming from one that claims a SAT score of 800 that was a BRILLIANT reply! Poses no argument nor defends one, SAT 800 must be a reference to the ability to take tests rather than a credible demonstration of independent critical thought and a talent for extrapolating synthetic knowledge from disparate sources. You would do well in a Mittens Administration if he had even a ghost of a chance of winning, alas he will just be another also ran. Pathetic like his supporters.
Perhap, maybe even likely but right now I feel the destruction happened yesterday at 12:30 and I'm not feeling very charitable towards the ones who did it. Fortunately my opinion won't make things move much one way or the other so I can afford to rant on an anonomous blog. It felt good.
Yea sure, like Ocommie hasn't destroyed America enough now? Grow a critical-thinking brain dude...
El Douchebag, anyone that complains about Obama is right, but anyone that thinks that fucktard little bitch of the 1% is the savior that will undo Obama's (or BushCo's) disasters is beyond stupid. Not worth replying to really.
His name is WILLARD
Willard Romney. You know, like the rat movie Willard?
Mitt is a baseball glove...
After this last worthless cock sucker Barry Soetoro... No more aliases...
"Somehow we have anointed Ben as the new God."
Who the fuck is "we", kemosabe? Please to be explaining exactly how, short of armed rebellion, any one was supposed to prevent these things from coming to be? I wasn't alive in 1913, nor on August 15, 1971. I was first eligible to vote in 1992, and this ship already be sinkin' by then, even if a single vote counted for dick.
Worthy of an "up" vote just for the Michael Ray Richardson reference. ("Da ship be sinkin").
It's September. Lets celebrate (or commemorate) Hank Paulson's TARP (2008), AIG, Lehman's Bros, ML, and so on....
A couple of weeks ago I read about one of the Fed guys suggesting a continuous, open-ended "stimulus" and I thought it was fantasy. Now I'm wondering about something else I read a while ago and thought was fantasy -- a government confiscation of 401-K accounts.
Everything is a fantasy until it is a reality. The confistication is definetly a possibility. Many governments have done similar things when in extreme financial stress; and this government will be in extreme financial stress within a very few years. It's not worth the risk; cash it out and put it in Silver Bullion; you;ll be very pleased with the result.
It wasn't fantasy. The plan to confiscate 401K accounts by Eminent Domain (in exchange for a Social Security benefit based on the high 2008 value) was floated by one of the most partisan Democrat leaders in the House from CA (George Miller), before Obama's inauguration. Congress lost interest when Ben's QE brought the market roaring back in mid 2009.
HuffPo ran an article recently with "many of the nation's biggest thinkers on retirement" discussing the "fact" that 401Ks and IRAs are "failing boomers" and need to be replaced with "something" - which will probably be treasury backed annuity lolplans.
This all but guarantees it will happen soon.
http://www.huffingtonpost.com/2012/02/29/401k-failing-boomer-generation_...
You nailed it with Ben, Bruce.....The most dangerous are the well disguised benevolent dictators. Must say, though, he's just a front for the real puppetmasters.
Phillip Dru, administrator.
Props for the "Col." Mandell House reference. Everyone needs to know about Phil Dru, admin.
It's taken a few decades, but he is everywhere you look.
ori
Bernanke, may he RIH
This is bullish for tax evasion and black markets.
and bartering skills, time, etc.
1970s stagflation is back.
Not quite, in the 70's we actually had wage growth and could still raise rates. Not the case now.
Forward!
Soviet!
Oh, they'll stock up... and then sit back and slowly consume. Then we will right back where we started from, except your fixed wage won't buy so much any more. QE is temporary... deflation still looms.
Plebes will soon resort to siphoning gas tanks again.
They will have to do it old school, like into a five gallon bucket or milk jug. I just read in my latest copy of "off-Road" Blitz, the largest fuel can manufacturer in the country, file for bankruptsy due to excessive lawsuits from people who pour gas on fires and burn to death. Apparently the fuel cans, which did not have flame supression devices to offer protection to drunken bastards, was considred negligent by Blitz.
That's sad and I imagine the price of gas cans with a flame suppression device will be in the $50-$80 RANGE.
Or $10, with the Chinese manufacturer telling the US courts to piss off and a series of short-lived US pass-through companies marketig them here before being litigated into oblivion.
Bullish for locking gas caps!
Waste of money, most modern vehicles have anti-siphon devices already built in.
Anyway, if they can't siphon the gas, they'll just punch a hole in the tank.
Where'd my gas go?
Ben doesn't care about food or energy prices because consumers will substitute a less expensive item. Such as riding a bicycle to work instead of driving or eating sawdust instead of rice.
Don't get too excited Ben can't afford the corresponding INTeREST rates
Sadly today the average american meal has less nutrition than sawdust. What is the substitution for sawdust? Artificial Soylent Green with more roadkill filler? Rice will be for the rich.
Miffed:-)
I don't care anymore if Bennie is drawing breath. Hopefully he will commit sucicide, someone will shoot him, or Romney will fire him and stop this bailout corrupt criminal enterprise.
It's really important to remember that Romney or Obama has no power to fire Ben or the Supreme Court or any senate confirmed appointee.
All they can do is refuse to reappoint these clods.
Of course, there's always the age-old option of a government assisted heart attack, car accident, balcony suicide or spontaneous combustion for hard core appointees who refuse to leave when asked.
Tsk Tsk, you better hope Mittens does not get elected and fire Benny B because the fucktard he puts in will make you LONG for the good old Fed of Helicopter Ben.
If i would have to choose between Obama and Mittens i would chose Mittens. Obama has not done anything of use so far with his 4 years in office.
Four years from now i would be saying the same thing about Mittens.
I suppose USA could save money and just hire some muppet to do this job for life, and skip all those expensive and pointless elections.
The upside to Romney is he WILL show Bernanke to the door ...
... the downside is it is already too late. If elected Romney will not be able to do anything about Bernanke before January 20, 2013.
Four months of QE3+All-In?
We'll pass $ 6.00/gallon (Maybe $ 8.00/gallon) at the really cheap gas stations by January 20, 2013.
The LSM has suddenly forgotten the worst harvests in decades - we'll add another 100% to corn and wheat prices by January 20, 2013.
Pick ANY commodity on Monday morning and go long - you will see at least a 30% return on your investment by January 20, 2013.
The other thing going up on a GLOABAL basis - SOCIAL UNREST ...
The EU, Japan and China either devalue their currencies ENORMOUSLY (which will not make their people happy) or see their exports become ridiculously expensive (which will not make their people happy).
If you were not around for the worst part of the Carter years and the Volcker Correction?
We are all going to get to relive them notched up to another magnitude of HELL.
barliman
I remember Carter, but i never did pay much attention to what he was up to or to politics in general back then.
In Iceland, nothing of great importance became visible until the 3 big banks were privatised. Iceland had until then changed very slowly, for example one could sit down and read a 800 year old book quite easily.
When the banks were sold, cheap loans flooded the markets, people were borowing money to invest in the stock maket, buying all kinds of stuff, cars, toys, summer homes, houses. All kinds of adventures.
The bankers became like gods, admired by everyone who looked at the profits and the huge foreign and domestic opperations of the banks.
This captures the ruling mindset of this era. http://www.youtube.com/watch?v=ZyhrYis509A
I belived the propaganda on the news, why would they lie ?, This was just growth, the more growth the better.
Then the whole thing crashed. Geir Haarde PM was on TV in a special bulletin telling Icelanders that they might get sucked into a global vortex of finacial troubles, resulting in a national bankruptcy.
This woke everyone up, like hitting a brick wall while sleeping. There was a uprise and the people took over, putting things back on track.
This captures the mindset of that era. http://www.youtube.com/watch?v=k0BWlvnBmIE
Icelanders are now at the Lollypop theme at the end of this video. Everything looks so good, uneployment is 5% and dropping, debts are being paid much faster than hoped for.
Under the surface there are waves and currents that people choose not to see, for now, but they will have to deal with this sooner or later.
One of those probems is Althingi, the Icelandic parliament. It was founded at Thingvellir in the year 930.
Thingvellir is a majestic place where you can stand between 2 continents and enjoy a spectacular landscape. The parliament was a honorable and respected assembly for a 1000 years, but now we have thieves in there, people who took bribes from the banks in the form of shares and bullet loans, the rest show their true nature by not saying anything, allowing the Althingi to be disgraced to the level that less than 10% of the nation trusts Althingi.
I think Althingi will come to an end now, nothing noble and good can survive in a cesspit of corruption.
Interesting times ahead, for all of us.
Iceland actually looks like a enormously gigantic lollypop, if you look at the whole shelf and the ridge, not just what you see above water. http://lithosphere.gsapubs.org/content/2/5/361/F2.large.jpg