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We Are On The Road To Serfdom

Tyler Durden's picture




 

Authored by Detlev Schlichter; originally posted at DetlevSchlichter.com,

We are now five years into the Great Fiat Money Endgame and our freedom is increasingly under attack from the state, liberty’s eternal enemy. It is true that by any realistic measure most states today are heading for bankruptcy. But it would be wrong to assume that ‘austerity’ policies must now lead to a diminishing of government influence and a shrinking of state power. The opposite is true: the state asserts itself more forcefully in the economy, and the political class feels licensed by the crisis to abandon whatever restraint it may have adhered to in the past. Ever more prices in financial markets are manipulated by the central banks, either directly or indirectly; and through legislation, regulation, and taxation the state takes more control of the employment of scarce means. An anti-wealth rhetoric is seeping back into political discourse everywhere and is setting the stage for more confiscation of wealth and income in the future.

War is the health of the state, and so is financial crisis, ironically even a crisis in government finances. As the democratic masses sense that their living standards are threatened, they authorize their governments to do “whatever it takes” to arrest the collapse, prop up asset prices, and to enforce some form of stability. The state is a gigantic hammer, and at times of uncertainty the public wants nothing more than seeing everything nailed to the floor. Saving the status quo and spreading the pain are the dominant political postulates today, and they will shape policy for years to come.

Unlimited fiat money is a political tool

A free society requires hard and apolitical money. But the reality today is that money is merely a political tool. Central banks around the world are getting ever bolder in using it to rig markets and manipulate asset prices. The results are evident: equities are trading not far from historic highs, the bonds of reckless and clueless governments are trading at record low interest rates, and corporate debt is priced for perfection. While in the real economy the risks remain palpable and the financial sector on life support from the central banks, my friends in money management tell me that the biggest risk they have faced of late was the risk of not being bullish enough and missing the rallies. Welcome to Planet QE.

I wish my friends luck but I am concerned about the consequences. With free and unlimited fiat money at the core of the financial industry, mis-allocations of capital will not diminish but increase. The damage done to the economy will be spectacular in the final assessment. There is no natural end to QE. Once it has propped up markets it has to be continued ad infinitum to keep ‘prices’ where the authorities want them. None of this is a one-off or temporary. It is a new form of finance socialism. It will not end through the political process but via complete currency collapse.

Not the buying and selling by the public on free and uninhibited markets, but monetary authorities – central bank bureaucrats – now determine where asset prices should be, which banks survive, how fast they grow and who they lend to, and what the shape of the yield curve should be. We are witnessing the destruction of financial markets and indeed of capitalism itself.

While in the monetary sphere the role of the state is increasing rapidly it is certainly not diminishing in the sphere of fiscal policy. Under the misleading banner of ‘austerity’ states are not rolling back government but simply changing the sources of state funding. Seeing what has happened in Ireland and Portugal, and what is now happening in Spain and in particular Greece, many governments want to reduce their dependence on the bond market. They realize that once the bond market loses confidence in the solvency of any state the game is up and insolvency quickly becomes a reality. But the states that attempt to reduce deficits do not usually reduce spending but raise revenues through higher taxes.

Sources of state funding

When states fund high degrees of spending by borrowing they tap into the pool of society’s savings, crowd out private competitors, and thus deprive the private sector of resources. In the private sector, savings would have to be employed as productive capital to be able repay the savers who provided these resources in the first place at some point in the future. By contrast, governments mainly consume the resources they obtain through borrowing in the present period. They do not invest them in productive activities that generate new income streams for society. Via deficit-spending, governments channel savings mainly back into consumption. Government bonds are not backed by productive capital but simply by the state’s future expropriation of wealth-holders and income-earners. Government deficits and government debt are always highly destructive for a society. They are truly anti-social. Those who invest in government debt are not funding future-oriented investment but present-day state consumption. They expect to get repaid from future taxes on productive enterprise without ever having invested in productive enterprise themselves. They do not support capitalist production but simply acquire shares in the state’s privilege of taxation.

Reducing deficits is thus to be encouraged at all times, and the Keynesian nonsense that deficit-spending enhances society’s productiveness is to be rejected entirely. However, most states are not aiming to reduce deficits by cutting back on spending, and those that do, do so only marginally. They mainly replace borrowing with taxes. This means the state no longer takes the detour via the bond market but confiscates directly and instantly what it needs to sustain its outsized spending. In any case, the states’ heavy control over a large chunk of society’s scarce means is not reduced. It is evident that this strategy too obstructs the efficient and productive use of resources. It is a disincentive for investment and the build-up of a productive capital stock. It is a killer of growth and prosperity.

47 percent, then 52 percent, then 90 percent…

Why do states not cut spending? – I would suggest three answers: first, it is not in the interest of politicians and bureaucrats to reduce spending as spending is the prime source of their power and prestige. Second, there is still a pathetic belief in the Keynesian myth that government spending ‘reboots’ the economy. But the third is maybe the most important one: in all advanced welfare democracies large sections of the public have come to rely on the state, and in our mass democracies it now means political suicide to try and roll back the state.

Mitt Romney’s comment that 47% of Americans would not appreciate his message of cutting taxes and vote for him because they do not pay taxes and instead rely on government handouts, may not have been politically astute and tactically clever but there was a lot of truth in it.

In Britain, more than 50 percent of households are now net receivers of state transfers, up 10 percent from a decade ago. In Scotland it is allegedly a staggering 90 percent of households. Large sections of British society have become wards of the state.

Against this backdrop state spending is more likely to grow than shrink. This will mean higher taxes, more central bank intervention (debt monetization, ‘quantitative easing’), more regulatory intervention to force institutional investors into the government bond market, and ultimately capital controls.

Eat the Rich!

In order to legitimize the further confiscation of private income and private wealth to fund ongoing state expenditure, the need for a new political narrative arose. This narrative claims that the problem with government finances is not out-of-control spending but the lack of solidarity by the rich, wealthy and most productive, who do not contribute ‘their fair share’.

An Eat-the-Rich rhetoric is discernible everywhere, and it is getting louder. In Britain, Deputy Prime Minister Nick Clegg wants to introduce a special ‘mansion tax’ on high-end private property. This is being rejected by the Tories but, according to opinion polls, supported by a majority of Brits. (I wager a guess that it is popular in Scotland.) In Germany, Angela Merkel’s challenger for the chancellorship, Peer Steinbrueck, wants to raise capital gains taxes if elected. In Switzerland of all places, a conservative (!) politician recently proposed that extra taxes should be levied on wealthy pensioners so that they make their ‘fair’ contribution to the public weal.

France on an economic suicide mission

The above trends are all nicely epitomized by developments in France. In 2012, President Hollande has not reduced state spending at all but raised taxes. For 2013 he proposed an ‘austerity’ budget that would cut the deficit by €30 billion, of which €10 billion would come from spending cuts and €20 billion would be generated in extra income through higher taxes on corporations and on high income earners. The top tax rate will rise from 41% to 45%, and those that earn more than €1 million a year will be subject to a new 75% marginal tax rate. With all these market-crippling measures France will still run a budget deficit and will have to borrow more from the bond market to fund its outsized state spending programs, which still account for 56% of registered GDP.

If you ask me, the market is not bearish enough on France. This version of socialism will not work, just as no other version of socialism has ever worked. But when it fails, it will be blamed on ‘austerity’ and the euro, not on socialism.

As usual, the international commentariat does not ‘get it’. Political analysts are profoundly uninterested in the difference between reducing spending and increasing taxes, it is all just ‘austerity’ to them, and, to make it worse, allegedly enforced by the Germans. The Daily Telegraph’s Ambrose Evans-Pritchard labels ‘austerity’ ‘1930s policies imposed by Germany’, which is of dubious historical and economic accuracy but suitable, I guess, to make a political point.

Most commentators are all too happy to cite the alleged negative effect of ‘austerity’ on GDP, ignoring that in a heavily state-run economy like France’s, official GDP says as little about the public’s material wellbeing as does a rallying equity market in an economy fuelled by unlimited QE. If the government spent money on hiring people to sweep the streets with toothbrushes this, too, would boost GDP and could thus be labelled economic progress.

At this point it may be worth adding that despite all the talk of ‘austerity’ many governments are still spending and borrowing like never before, first and foremost, the United States, which is running the largest civil government mankind has ever seen. For 5 consecutive years annual deficits have been way in excess of $1,000 billion, which means the US government borrows an additional $4 billion on every day the markets are open. The US is running budget deficits to the tune of 8-10% per annum to allegedly boost growth by a meagre 2% at best.

Regulation and more regulation

Fiscal and monetary actions by states will increasingly be flanked by aggressive regulatory and legislative intervention in markets. Governments are controlling the big pools of savings via their regulatory powers over banks, insurance companies and pension funds. Existing regulations already force all these entities into heavy allocations of government bonds. This will continue going forward and intensify. The states must ensure that they continue to have access to cheap funding.

Not only do I expect regulation that ties institutional investors to the government bond market to continue, I think it will be made ever more difficult for the individual to ‘opt out’ of these schemes, i.e. to arrange his financial affairs outside the heavily state-regulated banking, insurance, and pension fund industry. The astutely spread myth that the financial crisis resulted from ‘unregulated markets’ rather than constant expansion of state fiat money and artificially cheap credit from state central banks, has opened the door for more aggressive regulatory interference in markets.

The War on Offshore

Part and parcel of this trend is the War on Offshore, epitomized by new and tough double-taxation treaties between the UK and Switzerland and Germany and Switzerland. You are naïve if you think that attacks on Swiss banking and on other ‘offshore’ banking destinations are only aimed at tax-dodgers.  An important side effect of these campaigns is this: it gets ever more cumbersome for citizens from these countries to conduct their private banking business in Switzerland and other countries, and ever more expensive and risky for Swiss and other banks to service these clients. For those of us who are tax-honest but prefer to have our assets diversified politically, and who are attracted to certain banking and legal traditions and a deeper commitment to private property rights in places such as Switzerland, banking away from our home country gets more difficult. This is intentional I believe.

The United States of America have taken this strategy to its logical extreme. The concept of global taxation for all Americans, regardless where they live, coupled with aggressive litigation and threat of reprisal against foreign financial institutions that may – deliberately or inadvertently – assist Americans in lowering their tax burden, have made it very expensive and even risky for many banks to deal with American citizens, or even with holders of US green cards or holders of US social security numbers. Americans will find it difficult to open bank accounts in certain countries. This is certainly the case for Switzerland but a friend of mine even struggled obtaining full banking services in Singapore. I know of private banks in the UK that have terminated banking relationships with US citizens, even when they were longstanding clients. All of this is going to get worse next year when FATCA becomes effective – the Foreign Account Tax Compliance Act, by which the entire global financial system will become the extended arm of the US Internal Revenue System. US citizens are subject to de facto capital controls. I believe this is only a precursor to real capital controls being implemented in the not too distant future.

When Johann Wolfgang von Goethe wrote that “none are more hopelessly enslaved than those who falsely believe they are free” he anticipated the modern USA.

And to round it all off, there is the War on Cash. In many European countries there are now legal limits for cash transactions, and Italy is considering restrictions for daily cash withdrawals. Again, the official explanation is to fight tax evasion but surely these restrictions will come in handy when the state-sponsored and highly geared banking sector in Europe wobbles again, and depositors try to pull out their money.

“I’ve seen the future, and it will be…”

So here is the future as I see it: central banks are now committed to printing unlimited amounts of fiat money to artificially prop up various asset prices forever and maintain illusions of stability. Governments will use their legislative and regulatory power to make sure that your bank, your insurance company and your pension fund keep funding the state, and will make it difficult for you to disengage from these institutions. Taxes will rise on trend, and it will be more and more difficult to keep your savings in cash or move them abroad.

Now you may not consider yourself to be rich. You may not own or live in a house that Nick Clegg would consider a ‘mansion’. You may not want to ever bank in Switzerland or hold assets abroad. You may only have a small pension fund and not care much how many government bonds it holds. You may even be one those people who regularly stand in front of me in the line at Starbucks and pay for their semi-skinned, decaf latte with their credit or debit card, so you may not care about restrictions on using cash. But if you care about living in a free society you should be concerned. And I sure believe you should care about living in a functioning market economy.

This will end badly.

 

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Thu, 10/11/2012 - 23:42 | 2879881 Precious
Precious's picture

It's not a road.  It's a cul-de-sac, we're there already, and they've run out of Halloween candy.

Thu, 10/11/2012 - 23:52 | 2879899 Sabibaby
Sabibaby's picture

no no no no no... burn the houses down then!

Fri, 10/12/2012 - 00:02 | 2879923 Spirit Of Truth
Spirit Of Truth's picture

Serfdom is coming IMHO....compliments of Russia...

NUCLEAR WAR ALERT: Is Israel Preparing For All-Out War Next Week?!

http://thespiritoftruth.blogspot.com/2012/10/nuclear-war-alert-is-israel...

Fri, 10/12/2012 - 00:34 | 2879967 Manthong
Manthong's picture

Most folks here get their skivvies all twisted in knots about the federal government coming down on them.

The sad truth is that the feds will come down on what’s left after the state and local governments are through pillaging America.

Fri, 10/12/2012 - 09:29 | 2881058 Manthong
Manthong's picture

Gee, I guess a number of folks up there see no effect on their lives from  all of those red light cameras, speed cameras, ticket revenue campaigns, construction permit fees, municipal fees, school funding, energy taxes, property and transfer taxes, city street parking, sales taxes, use taxes, homeless programs, immigrant programs and all that other crap not to mention the pressure to exploit any and every new revenue approach to delay the collapse of their pension systems or the full tilt militarization of local law enforcement.

Must be wonderful where they live.

Fri, 10/12/2012 - 10:20 | 2881342 Overfed
Overfed's picture

I live in what is basically two conjoined towns in the PNW, population between the two is about 50K, with a strong libertarian bent. Lots of Ron Paul campaign signs during the primaries, with this county going to him by a wide margin. But I digress.

The city across the river tried putting up red light cameras, and the backlash was so big that they were taken down within a couple of months. Even a local retired judge lent a hand in gettting them removed. Big brother can be pushed back if the people band together.

Fri, 10/12/2012 - 00:45 | 2879982 Questan1913
Questan1913's picture

Spirit Of Truth,

You are already a serf. .... "Compliments of RUSSIA??....no, compliments of your own passivity and servile tendency.

 

 

Fri, 10/12/2012 - 03:27 | 2880165 matrix2012
matrix2012's picture

Spirit Of Truth,

your article may have some factual info to prop it... but the slant of "Compliments of RUSSIA" just flattened your credibility! What's the hell to do with Russia here??? Feel free to elaborate.

Fri, 10/12/2012 - 06:31 | 2880577 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Spirit Of Truth,

your article may have some factual info to prop it... but the slant of "Compliments of RUSSIA" just flattened your credibility!

His claim to be the second coming of Christ doesn't help his credibility much either.

Fri, 10/12/2012 - 07:51 | 2880739 Surly Bear
Surly Bear's picture

On the road? We've arrived, parked, and are enjoying the sights.

Fri, 10/12/2012 - 09:09 | 2880851 crusty curmudgeon
crusty curmudgeon's picture

I can't speak for "Spirit of Truth" but I'm not sure I'd dismiss him (her?) as the huge kook most readers appear to be doing.  I don't know what he meant, but there are some serious flaws to the conventional wisdom that the USSR lost the cold war and is now a harmless, struggling country yearning to be free.

A couple of fairly short articles by Jeff Nyquist would be a good place to perhaps reconsider whether you've been led to believe yet another false idea.  Hard to believe, eh?

http://www.financialsense.com/contributors/jr-nyquist/a-serious-threat-to-western-nations

http://www.financialsense.com/contributors/jr-nyquist/eastern-europe-market-system-changes-of-1989 

P.S.  I junked him nevertheless -- for writing in all bold.

Fri, 10/12/2012 - 09:23 | 2881030 Spirit Of Truth
Spirit Of Truth's picture

Correct.

You are all deluded and cooperating in your own destruction.  I'm here to redeem you from the Evil One who is now in control via mass deceit.  You see, the whole Christ thingy is true and you all are not smarter than God.

http://thespiritoftruth.blogspot.com/2010/03/quick-review-of-history.html

http://thespiritoftruth.blogspot.com/2012/07/why-belief-in-god-is-reason...

http://thespiritoftruth.blogspot.com/2012/05/great-transformation-of-wor...

Fri, 10/12/2012 - 12:06 | 2881944 Precious
Precious's picture

Hey, hebe with a keyboard.  Ever heard of Google Adwords.  Go buy some, you cheap little bitch.  

And quit pumping your two-bit blog by spamming things up around here with your links.  

Fri, 10/12/2012 - 00:47 | 2879986 JLee2027
JLee2027's picture

No

Fri, 10/12/2012 - 06:00 | 2880555 giovanni_f
giovanni_f's picture

The Russians. Sure. The Russians run secret grand jury courts in the US of A, too.

Fri, 10/12/2012 - 07:38 | 2880699 lakecity55
lakecity55's picture

Source?

Fri, 10/12/2012 - 08:24 | 2880823 CPL
Fri, 10/12/2012 - 08:26 | 2880819 CPL
CPL's picture

In some old childrens myths I've run into, depends if four of the Israeli tribes that are capable of seeing them for what they are manage to find the Aluka in their leadership and kill them.

...or then they all burn in hell. 

An Aluka is the Judiac equivalent of the Edward type of Vampire.  Walk around in day, doesn't die, beheading, usually in political or power position in the myths.  Landowner, co-opted king...that sort of thing.  Weirdly the story of the Aulka starts in Mesopotamia and every culture talks about them after that, Ancient Jew, Arab and Egyptians had a tale about them.  Or it could just be a parable of douche bags that were too mean to die.  It was never used as an adjective until much later, in myth it's used as a noun which is pretty creepy.

 

Fri, 10/12/2012 - 10:21 | 2881365 Overfed
Overfed's picture

The Russians aren't our enemies. Washington D.C. is our enemy.

Fri, 10/12/2012 - 00:04 | 2879928 vast-dom
vast-dom's picture

 

BE A TRUE PATRIOT THIS YEAR AND DO NOT VOTE!

 

LIARS AND SOCIOPATHS THAT CANNOT MIND THEIR BUSINESS. BIG GOV BIG SPYING ON POPULACE AND THREAT OF REVERSING ROE V. WADE. WE ARE FUCKED EITHER WAY!

it will end badly with either party

 

Fri, 10/12/2012 - 00:15 | 2879943 lemonobrien
lemonobrien's picture

i'm voting; it's like jacking off, and the boths are nice.

 

help me out, who should i vote for president? i was thinking of writing in ron paul; my name, or gary johnson...but... you know about gary johnson... i vote for writing my name in :)

Fri, 10/12/2012 - 01:00 | 2879961 Precious
Precious's picture

Were you born in Hawaii?  

You can be the first Hawaiian president.

Fri, 10/12/2012 - 09:22 | 2881022 francis_sawyer
francis_sawyer's picture

There are too many 'Johnson's' on the ballot already

~~~

http://www.youtube.com/watch?v=0B4suxQVUAQ

Fri, 10/12/2012 - 03:43 | 2880175 matrix2012
matrix2012's picture

@ vast-dom

TOTALLY BLUNDER STANDING!

Given ONLY the two ugly choices, one instead should CHOOSE THE LESSER EVIL to elude the BIGGER DISASTER!!!

That's, to pick the one who's LESS LIKELY to resort to the BLOODY WARS in carrying out the plunder!!!

 

The best is of course to have the 3rd candidate who represents the people's very interests... but i guess we all need to have deep sleep first to have it realized.... as George Carlin had warned us: "That's why they called it the American Dream... because you have to be asleep to believe it."

 

Fri, 10/12/2012 - 04:27 | 2880196 Davalicious
Davalicious's picture

I think it would be better to have Obama again because most Amerians will go to sleep once Romney takes office. We know that Romney is owned by the same Jew interests, but most of the public are ignorant of that. Romney would be able to dismantly the US with less scrutiny than O'Bongo.

Fri, 10/12/2012 - 07:37 | 2880698 lakecity55
lakecity55's picture

We have a chance to continue working towards a Libertarian Agenda under Mittens.

Under M. T. Suit, we'll all just get droned while muslims and commies run wild.

Fri, 10/12/2012 - 00:02 | 2879924 Stoploss
Stoploss's picture

Take a bag of shit, soak it in lighter fluid, light it, ring the door bell. Run..

That'll teach 'em.

Fri, 10/12/2012 - 01:00 | 2880007 A Nanny Moose
A Nanny Moose's picture

Judas Priest! It's one of those flaming bags again!!

http://www.youtube.com/watch?v=Fk6M1gqV-0A

Fri, 10/12/2012 - 01:42 | 2880074 joe6px
joe6px's picture

That would be a big steaming bag of Ron Paul.  Now that the deadline approaches how bitter is the taste of compromise?

Fri, 10/12/2012 - 04:15 | 2880188 KK Tipton
KK Tipton's picture

Snort.

It's kinda like a half LOL. Green for you.

 

Well baited sir, well baited.

Fri, 10/12/2012 - 00:38 | 2879976 Harbanger
Harbanger's picture

"The Road to Serfdom" by Hayek, should be required reading for all people wishing to remain free.

Fri, 10/12/2012 - 01:21 | 2880033 FreeMktFisherMN
FreeMktFisherMN's picture

As an econ major at a 'prestigious college', I can attest that most econ majors here (and around the world, for that matter) probably don't know a thing about the Austrian school or that there is such a thing. 

 

I emailed a prof (a marxist who was on the Boskin Commission in the late 90's that implemented hedonics/substitution into CPI, meaning I guess steak=hamburger) and asked why is there this aversion to the Austrian school in mainstream academia? Got no response from him, other than that I am more extreme than the Tea Party. I had also criticized the FDIC, as well as his blaming the loan sharks for giving out NINJA loans, when really it was Congress and lobbyists that used extortion to coerce lenders into subprime for these people who had no merit to homeownership, as well as Fannie and Freddie backstops and the monetising/rate lowering Fed always there to prop it up.

 

What a joke. If I could get a decent consulting job like for estate management (help people, like those on fixed income, see the urgency in preserving purchasing power by hedging with phyzz. PMs) or commodities dealings, instead of finishing out my junior and senior year, I would do it. I want no part of i-banking/govt-co-opting cronies. Just want a job with some integrity. 

Fri, 10/12/2012 - 01:46 | 2880081 joe6px
joe6px's picture

As a selective whore I only want to have intercouse with those who will have the ability to pay me...I really only want to pleasure those who I think are worth my tender loins......

Fri, 10/12/2012 - 01:55 | 2880092 joe6px
joe6px's picture

"Just want a job with some integrity. " Create it then my brotha.  Or just take your degree and grope harmless citizens as a supervisor...meaning you get to watch while shitheads molest would be airline passengers.  Your useless degree in econ..unless gs or any other fed member would hire you.. If you want to be honest you are screwed.  if you were smart enuf to get here and ask that question, then why are you here and asking that question?

Fri, 10/12/2012 - 02:14 | 2880114 joe6px
joe6px's picture

Just because you may be a special case, in my ealier resopnse I used the TSA as an over-reaching example of what becomes of young idioligical types...give it a few years.  I was almost you once....as was everyone here.... you get to unrememner your whole investment.  Econ has become central planning...right before our very eyes.  I hope you have a crystal ball worth more than your student loans.

Fri, 10/12/2012 - 02:24 | 2880120 FreeMktFisherMN
FreeMktFisherMN's picture

I hear you, joe6px, although I do not care for your previous comment that was very crude. I realize it is a free for all, but have some decency. 

I'll probably respond in more detail later, but for now, I would say I am taking steps to prepare, probably in the 99.9th percentile as far as 21 year olds, what with a solid stack of Ag and even some 1/10 Au eagles. I posted a while ago on a ZH thread that I liked the job I had this past summer of freelance, be my own boss work, where I went on craigslist and through family connections found jobs in the Twin Cities metro doing yard work and painting. Paid pretty well per hour, especially for painting a whole exterior of a home, and it was interesting to negotiate and bargain with people. I had plenty of work, and also arbitraged a bit in wheeling and dealing electronics by buying low on ebay and craigslist and selling high, learning about leverage and counterparty risk. 

I have to make a living, obviously, and I need to trust in the Lord that He will show me His purpose for me. I am with you on this reliance on somebody else giving a job to me being a bad mentality. That being said, I don't have the capital to start a full scale business or anything, and I have committed 2 years to get this signaling device piece of paper at an expensive school, and am blessed not to have to go into debt. I only woke up to this economic sham about last fall. I realized how not only is govt intervention bad policy and not efficient, etc., as far as Austrian critique of it, but also how evil Keynesianism/mainstream economics is. The immorality of leveraging out and passing the buck to future generations, and envy/coveting what with people anonymously/cowardly voting to redistribute wealth to their own benefit using govt's point of a gun power to do so. It's disgusting.

 

I would like to find some way to be an apprentice at some wealth management/consulting firm and/or work under a guy who thinks like I do. I obviously think commodities is the place to be what with CBs hitting ctrl + p incessantly, and I genuinely want to do something productive and that I can live with. I didn't go the engineering path, so I have to be realistic. In the mean time, I don't know the future. I think this thing is reaching the final stages, and the Bible lays out which things must pass before the Lord returns. I am not scared at all. I just have to navigate my way and find my niche and trust in the Lord. 

To say I am 'screwed' is absurd, by the way. I am awake to this corruption, and have hedged accordingly a lot already. And even though I don't trust the security of this house where I'm living in this campus town to hold phyzz. here, I have my stack at my real home hidden, and opened up a brokerage account and buy silver ETNs/ETFs and plan on buying commodity ETFs and preferably PM trusts like PSLV perhaps that beats having money sit in the bank earning nada. And am ready to cash out and convert to phyzz at moment's notice.

And as a believer in Christ, I am saved. Faith in Christ alone saves. I am on the side of life, and vehemently oppose the cop-out attitude of 'I don't want to be alive when TSHTF.' 

Fri, 10/12/2012 - 04:42 | 2880207 Fedaykinx
Fedaykinx's picture

well good for you on the silver and all, i hope you're not tithing too much, save it.  i'd save myself the whole headache, personally, i grew up protestant but don't buy into the whole "jesus is coming" thing.  he ain't coming back, he's too pissed off.

 

i didn't junk you btw, but a piece of advice, talking about that sort of stuff is pretty much going to shut down most of the conversations you may have here.  just sayin.

Fri, 10/12/2012 - 06:17 | 2880557 zhandax
zhandax's picture

Interesting.  I emailed an article I wrote in 2008 about the fed reserving the last bubble to itself to my last living finance professor to ask him to fact check it and his response was, "I don't concentrate on banking; I sent it it to a colleague at Brown".  I couldn't fault him as he did teach corporate finance but thought he would at least send it to someone qualified to review.  Colleague writes back a couple of weeks later something along the lines of 'this isn't my area of expertise'.    That's two different finance professors at two different universities admitting they don't know enough about the fed to critique an article.  WTF???

Fri, 10/12/2012 - 07:33 | 2880693 lakecity55
lakecity55's picture

And why is that? A man has some heartfelt beliefs and acts on them.

He gets junked by some of the same people who would be up in arms against the banksters.

Who tossed the banksters out of the temple? Who died for doing so?

There is too much ba'al worship going on=Nihlism=socialism=humanism.

People need to find something good to believe in, because, trust me, you are going to need moral/spiritual help to cope in the Reset.

 

Fri, 10/12/2012 - 11:28 | 2881798 shovelhead
shovelhead's picture

I have my dog.

Semper Fi and never lies to me.

Doesn't ask for 10% and is happy with an ass scratch and some occasional canned food on his kibble.

 

Fri, 10/12/2012 - 07:50 | 2880738 ZeroAvatar
ZeroAvatar's picture

As soon as I saw "faith in Christ" I started scrolling.................

Fri, 10/12/2012 - 09:54 | 2881131 GeezerGeek
GeezerGeek's picture

Everyone has some sort of a belief system. Don't be such an anti-Christian bigot that you don't pay any attention to what he said aside from his proclamation of belief.

Fri, 10/12/2012 - 02:17 | 2880116 Gutterballs
Gutterballs's picture

About 10 years ago I failed out of a "prestigious" computer science program because I smoked too much weed. Ended up enlisting in the navy, and got a taste of real life over five years as I lived in Japan, visited six countries in East Asia, and had a bonus year of duty as a cell block guard in Guantanamo Bay.

I finished my bachelor's degree on the government dime while I was still enlisted, and my major was economics. I have no intentions of finding a job with that degree, I just got it because it was free and I enjoyed studying economics. The skills I got in the military (electronics repair) are way more practical and valuable than the fucking voodoo I was taught in most of my classes.

I am currently applying for an MBA program, which is probably the only hope for economics majors. I have little desire to return to academia for another two years, but once again the almighty dollar speaks: my tuition is covered by the GI Bill. Not only that, but the uber-entitlement of the most recent revision to the GI Bill provides me with a housing stipend as well. I want to be a producer, not a consumer, and I understand that many of these people end up in business school. So I go there.

Listen, you're not going to get shit for your economics degree. It is effectively worthless, if you want to maintain your soul. Get the fuck out while you still can. This is the turning point for you. Stop relying on your knowledge, or what knowledge that you think you have, and lose the entitlement mentality. If you want to create something in this world, do it yourself, or find someone who has more balls than you and be their wingman.

But what do I know. I'm still applying to an MBA program. I guess I'm implicitly betting that the system won't collapse until 3 years from now.

Fri, 10/12/2012 - 02:35 | 2880129 joe6px
joe6px's picture

Your advice is sound Gutter..As much as a Squid's advice can be.. :-)  You are correct in that the FED GOV's investment in us is better spent than any amount of QE,,but the entitlement class sees no end to the paycheck.  That is the difference is that we were trained to be self sufficient (to different ends). Those that take just learn that a gubbmnt check is their right.  No Federal Aid Without Ferderal Service.  Or, perhaps, no State aid without State service.  I prefer the State route, as the Fed is getting too much favor.

 

Fri, 10/12/2012 - 02:37 | 2880131 FreeMktFisherMN
FreeMktFisherMN's picture

You're preaching to the choir in many ways, Gutterballs. I have no entitlement mentality. I am trying to figure out my best strategy. In the meantime I have already bought quite a bit of silver and gold, because this thing is very precarious. 

 

There is no one size fits all for everybody. I am thankful I am awake to the corruption and realize that most of this is just bread and circuses to trick people into falling for socialism and ultimately a NWO. This new mindset has put me on an island in a lot of ways, as most people do not think this way, so I come on sites like ZH frequently to be told what's really going on. 

My trust is in Christ.

I was originally responding to the Road to Serfdom being required reading comment, and was explaining how I can attest to the corrupt principles they inculcate into kids, as an econ major right now at an 'elite university.'

It would be great if it were a true free market and not this one size fits all, must go to college paradigm. I would be willing to pay somebody to take me under their wing as an apprentice to them in their business and learn the ropes about real American entrepreneurship. As it is, I'm well aware of what a joke this whole thing is, but I still have to find my way. I would welcome any advice other ZHers may have if they are in the finance/economics field, or just in general. 

 

Fri, 10/12/2012 - 07:06 | 2880642 JoBob
JoBob's picture

My advice is to stop boring us with your religious beliefs.

Sat, 10/13/2012 - 08:30 | 2884520 TooBearish
TooBearish's picture

Thank you for your comments FreeMkt, I am encouraged that the younger generation is awake and motivated - yours will be the Artists that will lead the Fourth Turning in the Kondratieff cycle - stay true to your convictions and faith and continue to challenge your MS tenured - for -life profs, but know that they are part of the problem, not the solution as they are not paid to take academic risks, and therefore career and lifestyle risk.

Peace

Fri, 10/12/2012 - 08:38 | 2880848 northerngirl
northerngirl's picture

Most Americans are too lazy to read, and they think being free is living in a country where the federal government provides all their basic needs:  Housing, food, and medical care.  Oh, I forgot a cell phone.

Fri, 10/12/2012 - 06:16 | 2880564 Bicycle Repairman
Bicycle Repairman's picture

"they've run out of Halloween candy."

Then hand me an egg.

Fri, 10/12/2012 - 07:50 | 2880734 Shelby Moore III
Shelby Moore III's picture

HOW TO OWN THE (OLD) WORLD

http://www.mpettis.com/2012/10/07/how-to-be-a-china-bull/#comment-17427

Shelby wrote on Professor Pettis's blog:

Very interesting. But is the culture amongst your intelligent students indicative of the culture and economic awareness of the citizens and thus politics at-large.

If the students rise up again (thinking of Tiananmen Square) to say "enough is enough" of this corrupt system, will the citizens at-large be in support of further dismantling the centralized gridlock.

I like to draw on different scientific disciplines to analyze reality, e.g. economics, political science, pyschology, physics, etc..

I can understand that for obvious reasons (being a professor in China) you can't probably speak to such political outcomes in public. It seems to me that the politics is very important for determining what outcome China will choose.

In the USA, the start of "QE-Infinity" before the election (with the M0 monetary base just in past 3 years malforming to a massive hockey stick two centuries in scope), is in my opinion a death call to the ubiquitous "do not tread on the free market" American culture endemic to Andrew Jackson's era. That culture still lingers but has fragmented into for example a minority of millions "take my gun from my cold dead hand" (which is something different than "I will take my pitchfork to D.C.")-- individualistic nonetheless. Perhaps the people don't realize that QE-Infinity is so the bankers can own all of the mortgaged real estate:

http://www.financialsense.com/contributors/catherine-austin-fitts/qe3-pa...

Perhaps they don't understand we are at step "Buy up as many remaining assets on the cheap as possible. Hide this action." in the banker business model:

http://www.silverbearcafe.com/private/01.10/thinklikeabanker.html

http://www.silverbearcafe.com/private/06.11/owntheearth.html

All over the world it seems very few people want to fight the theft from prosperity caused by rampant centralizing of the management of global capital. In Europe, the citizenry of the periphery are rioting to have their debt cake extended without any defaults, thus without any return to free markets. And in the core, the citizenry support such, if it is coupled with ever more centralized control over the periphery.

I felt so ashamed/depressed to be living in this epoch, until it occurred to me that maybe this ubiquitous idiocy is reflective of some major shift between some old paradigm that can no longer compete, and that the majority of the people are still stuck in that old paradigm.

I have explained in past comments on your blog:

http://www.mpettis.com/2012/09/16/by-2015-hard-commodity-prices-will-hav...

that I think we are in the transformation at the cusp of the death of the industrial age and a new information technology age. Many of the youth seem to be totally immersed in the coming information technology age. A problem is that demographically the youth are much diminished in political power in the developed world, because the boomers were killing 40 million a year with abortion alone (not including contraceptives). Thus the youth can not overthrow the current Apocalypse in time to prevent the boomers from destroying themselves (to culminate within this decade).

I have found the 10 year research into the 4th Turning (Long Wave Cycle) to be very relevant in explaining what we can expect coming:

http://goldwetrust.up-with.com/t9p570-inflation-or-deflation#4735

P.S. I love your blog, but I won't continue spamming it with my repetitious points.

Fri, 10/12/2012 - 10:11 | 2881208 emersonreturn
emersonreturn's picture

how long will it take before the serfs refuse to pay taxes...or is the notion of refusing so repugnant to the general collective soul to be as inconceivable as to voluntarily cease breathing?

Thu, 10/11/2012 - 23:43 | 2879882 Goatboy
Goatboy's picture

Is this reactionary manifesto?

Fri, 10/12/2012 - 04:38 | 2880185 Radical Marijuana
Radical Marijuana's picture

Yeah, I would say so!

The first half of this article is excellent, until it starts to scapegoat the poor suckers, with bogus blame thrown at our fake democracy, as being the source of the problem. The real system is runaway fascist PLUTOCRACY. The real PROBLEM is the triumph of the shadow government, through the methods of organized crime, taking control of public governments, so that they would give away the power to make money out of nothing to PRIVATE BANKS. Legalized counterfeiting by privately owned banks is the SOURCE. 

Follow the money, and follow the money to its SOURCE!

PRIVATIZED FIAT MONEY-AS-DEBT IS STARK!

THAT IS THE CENTRAL SOCIAL FACT!

WE LIVE IN A PLUTOCRACY!

WE JUST HAVE OPEN OUR EYES AND LOOK AT THAT PLAINLY OBVIOUS SOCIAL FACT IN ORDER TO SEE IT! LEARNING THE HISTORY OF THAT IS LEARNING HOW ORGANIZED CRIME TOOK OVER ALMOST TOTAL CONTROL OF OUR GOVERNMENTS, TO THE POINT WHERE 99% OF THE MOST IMPORTANT PUBLIC POWERS HAVE ALREADY BEEN PRIVATIZED, AND LESS THAN 1% REAL DEMOCRACY REMAINS! THEREFORE, BLAMING THAT FAKE 1% ACTUALLY STILL SURVIVING DEMOCRACY FOR ANYTHING IS RIDICULOUS!

Everything else that anybody else says that does not make that real plutocracy the center of their presentation is ALWAYS reactionary bullshit, no matter how superficially they spout false revolutionary rhetoric. After enough of the people become nothing more than bullshit consumers, with hardly any shred of citizenship left, and that has become so bad that most of them do NOT want to be aware or think about their rights, powers, duties and responsibilities to be citizens, we ARE defaulting to be controlled by the banksters, and they have already gained control of the mass media, to make sure that their bullshitting is a runaway triumph, that nobody else has any practical means to sufficiently counteract.

So, YEAH, I would say that this article is another reactionary manifesto. The last half of this article is one red herring after another, misleading us away from the central problem. All of that may well be true, and important, from within the perspective of the already fake democracy. YES, FAKE DEMOCRACY is a serious problem. However, WHY it ends up a fake is more important. That was due to huge lies, BACKED BY VIOLENCE, for a long, long, long time!!!

I thought this article was going to be better, because it started off so well. BUT, then it collapsed into being another bunch of bullshit by another reactionary revolutionary.  Of course, I expect that a large number of Zero Hedge readers still have similar superficial views, since it takes quite a bit to go through sufficiently provoking psychological desperation to finally face the fact that the banksters are a bunch of out of control trillionaire mass murders, who have almost totally taken over the whole world already, and are quite willing and able to risk world war, and impose martial law.  Our REAL problems are orders of magnitude worse than anything mentioned in this shallow article! SURE, all of these countries are going deeper and deeper in debt, BUT, ... HOW did we end up with this insane money-as-debt system in the first place?  HOW did everything get so perfectly perverted?  HOW did we end up living in a Bizarro Mirror World Fun House, where everything is BACKWARDS. 

After "democracy" is destroyed by PLUTOCRACY, it is just silly and stupid to blame that fake democracy for being the problem! Of course, to restore a real democracy seems practically impossible, AFTER it is destroyed, and AFTER enough of the people have been brainwashed to believe in the biggest bullies' bullshit enough of the time. Since enough people have been brainwashed to think there should be NO murder system, and therefore, do NOT control it, and mostly do not even think about the murder systems that actually exist, the people do NOT control their money system, and could not take back control, because they are no match for the trillionaire mass murders that did take control, since enough of the people are so, so clueless that they can not understand that central social fact, and refuse to think about it.

Fri, 10/12/2012 - 08:05 | 2880773 BigDuke6
BigDuke6's picture

All this gloom is making me bullish!

Fri, 10/12/2012 - 16:54 | 2883006 Clashfan
Clashfan's picture

Rad Reefer rocks yet again.

Thu, 10/11/2012 - 23:44 | 2879883 lewy14
lewy14's picture

Or smurfdom. Or something.

Thu, 10/11/2012 - 23:56 | 2879893 Supernova Born
Supernova Born's picture

I thought serfs were productive, grew food, gave the lion's share to the lord and only got to keep a small portion for subsistence?

 

Today's EBT folks are like some kind of bizarre royalty that produces nothing and demands free everything. A feudal lord of old would have had such utterly unproductive and/or destructive "serfs" on the end of a pike.

Fri, 10/12/2012 - 00:01 | 2879920 Anusocracy
Anusocracy's picture

Eat the rich, the new Kobe beef.

Fri, 10/12/2012 - 00:14 | 2879941 SafelyGraze
SafelyGraze's picture

we EBT folks produce votes. 

and lots of 'em

 

Fri, 10/12/2012 - 04:27 | 2880199 KK Tipton
KK Tipton's picture

That would be *jobs*.

 

Administration costs for welfare are higher than the benefits handed out.
Administration means office jobs.
JPM handles the cards. I'm sure that's costly "gods work" or something.
Then you also employ police and corrections people.

Poverty pimping is full time BIG money.

Paying 5% (or whatever) of America big $$$ to hand the scraps to 50% of America?

Datz the American way!

Fri, 10/12/2012 - 08:51 | 2880887 SafelyGraze
SafelyGraze's picture

"Administration costs for welfare are higher than the benefits handed out."

what figures did you find for actual expenditure on adminstration versus expenditure on benefits

Fri, 10/12/2012 - 11:20 | 2881771 pufferfish
pufferfish's picture

ETB, TV... Keeps the pitchforks away.

Thu, 10/11/2012 - 23:54 | 2879907 LongBalls
LongBalls's picture

I suppose we must all get comfy with the thought of kissing our own ass..... All joking aside. This is going to be VERY painful. But we must rise with renewed freedom. Anything else should cause great shame at the thought of all those who died for our sake.

Thu, 10/11/2012 - 23:55 | 2879909 zorba THE GREEK
zorba THE GREEK's picture

LIVE FREE OR DIE. Time has come to back that statement up.

Fri, 10/12/2012 - 00:28 | 2879958 SafelyGraze
SafelyGraze's picture

"none are more hopelessly enslaved than those who falsely believe they are free"

none, you say?
hah.
I also falsely believe there is hope.

"hope? you left out 'change'" -Goethe


Thu, 10/11/2012 - 23:59 | 2879911 otto skorzeny
otto skorzeny's picture

If by "anti-wealth rhetoric" you mean publicly discussing rich pieces of shit like Westgate CEO David Siegel and his "American Versailles" or smarmy entitled assholes like Jamie "We're doing you flyover country losers a favor" Dimon then count me in.

Thu, 10/11/2012 - 23:57 | 2879913 SmoothCoolSmoke
SmoothCoolSmoke's picture

"Blah, blah, blah....this will end badly."   Frankly. I getting a bit sick of the TWEBly crowd.  They are entering the realm of the 'Broken Clock-ians."  Except they have, in 5 years, yet to be right even ONCE A DAY.  Sorry folks, but what, w/o when, = STFU for me anymore.

Fri, 10/12/2012 - 00:05 | 2879925 otto skorzeny
otto skorzeny's picture

because what goes up never comes down?

Fri, 10/12/2012 - 02:56 | 2880142 AnAnonymous
AnAnonymous's picture

Oh, it is going down. Simply not the way 'americans' claim it is...

Fri, 10/12/2012 - 03:08 | 2880152 akak
akak's picture

Oh, roadside Chinese posteriors are going down.  Simply not the way (or the place) Americans would do it ....

Fri, 10/12/2012 - 05:38 | 2880236 TheFourthStooge-ing
TheFourthStooge-ing's picture

We are on the road to serfdom, and AnAnonymousitizens are squatting and crapping on the roadside to serfdom.

Fri, 10/12/2012 - 06:47 | 2880591 AnAnonymous
AnAnonymous's picture

Who is that we? The middle class part that is sliding on the wrong side of 'americanism'?

Well, just a few words to them: welcome to an 'american' world.

Fri, 10/12/2012 - 06:57 | 2880616 TheFourthStooge-ing
TheFourthStooge-ing's picture

Who is that we? The squatting ass retard that is sliding on shit-slickened roadside of Chinese citizenism?

Well, just a few words to them: welcome to an AnAnonymican world.

In AnAnonymousitizenism, the poop is all.

Signed: AnAnonymous

Fri, 10/12/2012 - 07:03 | 2880635 AnAnonymous
AnAnonymous's picture

Back to stealing handles. Once a thief...

Such fine specimens of 'americanism' on here...

Fri, 10/12/2012 - 07:40 | 2880705 TheFourthStooge-ing
TheFourthStooge-ing's picture

Nobody wants any handles that you've been near, as they've been operated by your dung hand.

Fri, 10/12/2012 - 00:14 | 2879942 LongBalls
LongBalls's picture

Don't listen, don't care, continue to think those of which you speak are retards. I care not. For the love of God take it all out on me. But, if you are the one proven incorrect, then by all means stand up and fight against that which you were wrong about. That's all I ask. Stand on the side of freedom no matter what!! That is the real issue here. Untill then relax as you subscribe to do. Enjoy it. You deserve it.

Fri, 10/12/2012 - 01:01 | 2880006 Al Gorerhythm
Al Gorerhythm's picture

Everything must be ticking along ever so swimmingly in your world. Please send me the names of your optomitrist, stock broker, money manager, banker and real estate agent.

Fri, 10/12/2012 - 01:26 | 2880045 AustriAnnie
AustriAnnie's picture

Who needs their names?

 

I want the name of whoever sells him the "CoolBlueSmoke" he's smokin', cuz it MUST be good.

Fri, 10/12/2012 - 01:23 | 2880037 AustriAnnie
AustriAnnie's picture

It is already ending badly.  Look around you.

"in 5 years, yet to be right even once a day"

They have been right.  Look around you and tell me what our society has become over the last 5 years.  Show me the price mechanisms at work in a fair market and the plans for drones over the U.S. being scrapped.  Tell me the NDAA was just a bad nightmare I had, and FATCA isn't going to scare away what little investment capital is still being put to productive use in this country.  Show  me the productive, highly educated class of new graduates entering the world and fending for themselves, paying off debt instead of buying igadgets and signing up for food stamps.  Show me how the new trend toward rule by executive order (because these days even Congress isn't totalitarian enough to outlaw freedom fast enough0 is going to make my future better.  

So, fool, tell me why it is you think there is a finite "end" that can be described as "badly".  Do you think time will stop suddenly and the world will be in flames, and only then can these people "be right"?  

You are living in the end.  And yet you can't seem to see it, you are so busy mocking those who are trying to show you that very fact.

Fri, 10/12/2012 - 06:11 | 2880562 uff the fluff
uff the fluff's picture

This sort of nonsense has been going on for quite a bit longer than 5 years. In fact that's why I am not sure exactly what to think. History seems to show that humans make lots of messes, but that this is worse than those before remains to be seen.

Thu, 10/11/2012 - 23:59 | 2879916 Jim in MN
Jim in MN's picture

Sorry, Detlev, but trying to blame 'the state' without mentioning the ultra rich is like bran flakes with no milk.

We are not in serfdom to clerks, but to the global elite.  Get it straight or Get The Fuck Out.

Fri, 10/12/2012 - 00:10 | 2879938 Anusocracy
Anusocracy's picture

I look at the rich as being to blame by the extent that their wealth came from government actions.

Which means most of them are to blame.

Fri, 10/12/2012 - 01:37 | 2880061 AustriAnnie
AustriAnnie's picture

Wake up and realize "the rich" that you hate are the ones who will get the exemptions to taxation. 

"The rich" that they will go after, which is what this article is trying to point out, are the people who saved and invested to buy up a little property to protect themselves against inflation or to make up for the fact that social security won't pay out anywhere near what they need.

These responsible people who may own two homes because they purchased one to pay for their retirement, many of them only getting that far by FOREGOING CONSUMPTION IN THE PAST to have it in the future.

You need to make a clear line between crony capitalists and hard-working Americans who will be targeted simply for having made something of themselves.

This "rich" vs "poor" class-based thinking is exactly what TPTB want to dominate political discussion, because it keeps the masses divided and easier to control.  We should be looking at "productive" vs "nonproductive" and "independent" vs. "state-sanctioned/protected".

It isn't about the dollar amount, its about whether or not it was obtained through voluntary or forceful means.

Fri, 10/12/2012 - 01:47 | 2880082 AynRandFan
AynRandFan's picture

The majority will take from the minority whenever it suits them.  The only thing standing between us and serfdom is the cultural change that returns the value of self-reliance over entitlement.

Fri, 10/12/2012 - 06:31 | 2880578 Bicycle Repairman
Bicycle Repairman's picture

AustriAnnie

Nailed it.

"The rich" that they will go after, which is what this article is trying to point out, are the people who saved and invested to buy up a little property to protect themselves against inflation or to make up for the fact that social security won't pay out anywhere near what they need."

Why not just call them "hoarders"? 

Anyone who earns a high wage is going to be put in the crosshairs.

Again the 1970s playbook (on steroids) rears its ugly head.

Fri, 10/12/2012 - 00:13 | 2879940 The Shootist
The Shootist's picture

Where does Hillary fit in??

Fri, 10/12/2012 - 01:04 | 2880012 Al Gorerhythm
Al Gorerhythm's picture

Not too many places. Even the Society of Sociopaths would probably reject her membership.

Fri, 10/12/2012 - 01:26 | 2880046 Vidar
Vidar's picture

Sorry, but the only reason global elites are able to have power is because of the State. The root of the problem is the existence of an institution that has the power to use violence to enforce its will. Until everyone is equally required to respect the life, liberty, and property of everyone else we will have this same problem. The State has to go if the human race is to have a future. The problem is power, not wealth.

Fri, 10/12/2012 - 01:40 | 2880068 Clashfan
Clashfan's picture

Like they're separable? Explain how.

Fri, 10/12/2012 - 01:41 | 2880071 AynRandFan
AynRandFan's picture

Bank execs don't pull me over on the highway and have a gun on their hip.  That's government.  He has "sovereign immunity".  You have to do what he tells you, NOW.  That's the difference between the financial elite and government.

Fri, 10/12/2012 - 01:58 | 2880095 Quarky Gluon
Quarky Gluon's picture

But if the State is doing the Banker's bidding, then maybe a LEO is just another member of the Roman guard enforcing compliance with the wishes of the emperor (the Banks).

Fri, 10/12/2012 - 02:33 | 2880128 AustriAnnie
AustriAnnie's picture

The State does the bankers' bidding because we give them power.  If the politicians have no power, that power cannot be bought.

It is our job as citizens to curb that power.  We can't sit here and complain that "we don't have a benevolent leader" to save us from those who seek to abuse power.

The "poor downtrodden 99%" are the ones who put those politicians in power every election cycle.  Why?  Because most of them, just like the bankers, are trying to buy favor.  Very few people out there in the middle class are saying they want to support themselves and just be left alone.  Most are unhappy because they feel entitled to a bigger piece of the pie.  Next time you are in a suburban shopping mall or a McDonalds, realize that THOSE people vote.  The same people who shove you in line and bang their door into your car in the parking lot and leave their chewed gum on handrails.  

Its easy to focus on the bankers as the root of evil and forget that a good many of the 99% have chosen to be led, not to take care of themselves. Should we feel sorry for them because they voted away OUR RIGHTS for a handout?  I think not.  They have been just as active in creating this nightmare as the bankers. (To a degree we all have, through silence if nothing else).

Fri, 10/12/2012 - 05:34 | 2880232 AnAnonymous
AnAnonymous's picture

The "poor downtrodden 99%" are the ones who put those politicians in power every election cycle. Why? Because most of them, just like the bankers, are trying to buy favor.
________________________________________

In the US, the poorer you are, the less likely you are to vote.

Voting is an 'american' middle class thing. The 'american' upper class, the elite, be it economical or political, fights to get the consent of the 'american' middle class, which are their masters.

Apparently, in the US, it is been a while that the lower class had got it that their existence only serves as being a stepping stone to the 'american' middle class.

Alas, alas, alas, those most obvious fact that jump to the face to anyone who even only browse the voting statitics would destroy the narrative about the 'american' state, the buying favour act from the99 pc downtrodden etc and therefore has to be dismissed as it is now an emergency for the shaking 'american' middle class to try and destroy the apparatus that served their success, that is the State.
Because if the State keeps being longer, that part of the 'american' middle class will be on the wrong side of it...

Fri, 10/12/2012 - 05:54 | 2880553 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, crapping out the same unsupported assertions, said:

In the US, the poorer you are, the less likely you are to vote.

Voting is an 'american' middle class thing. The 'american' upper class, the elite, be it economical or political, fights to get the consent of the 'american' middle class, which are their masters.

In AnAnonymousitizenism, the stupider you are, the more likely you are to wok a dog, crap it out on the roadside, and blame the American middle class.

Roadside crapping is an AnAnonymousitizenism thing. The Chinese citizenism crapper class, the excrete, be it propagandical or proshitical, fights to get a clear spot on the roadside to squat their AnAnonymous asses, which deposit mass turds.

Fri, 10/12/2012 - 06:55 | 2880612 AnAnonymous
AnAnonymous's picture

AnAnonymous, crapping out the same unsupported assertions, said:

_______________________________

Unsupported how? On this site, there was an article posted that gave out the same factual reports when it comes to the US.

If you are displeased with the data provided by an article posted on this site, please see that with the author of the article. And stop pretending those are unsupported assertions when on this site, an article posted the data.

This basic reality kicking in wont stop you from telling that it is unsupported assertions, as you can not cope with facts as they are.

Propaganda or fantasy, that is what 'americans' do to flee from the 'american' reality...

On a sidenote, it also shows how people in power, even when 'americans' have to deal with reality.

At the very moment, during that election process, both candidates are fighting to get the middle class vote.

But hey, if they dismiss the fact that voting is a middle class thing in 'american' societies, their chances to get elected will sink like lead into the sea.

Hard for 'americans' when they are cornered by reality...

Fri, 10/12/2012 - 07:21 | 2880677 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, displaying his duplicitous eternal nature:

Unsupported how? On this site, there was an article posted that gave out the same factual reports when it comes to the US.

If you are displeased with the data provided by an article posted on this site, please see that with the author of the article. And stop pretending those are unsupported assertions when on this site, an article posted the data.

Nice evasion, offuscation, denial, and strawsmanity.

"The 'american' upper class, the elite, be it economical or political, fights to get the consent of the 'american' middle class, which are their masters."

Unsupported assertion.

This basic fantasy kicking in wont stop you from telling that it is undisputable reality, as you can not cope with facts as they are, so you make them up.

Propaganda or fantasy, that is what AnAnonymous' does to flee from the disturbing reality that stares at him in the mirror...

At the very moment, during that election process, both candidates are fighting to get the middle class vote.

At the very moment, during that election process, both candidates are fighting to convince anyone that voters have a choice and that voting is anything other than the charade that it is.

But hey, if they dismiss the fact that voting is a middle class thing in 'american' societies, their chances to get elected will sink like lead into the sea.

Because the candidates are chosen by the one-party American system to pretend that they are of different parties, the chances of the party candidate to get 'elected' are 100 percent. Funny how AnAnonymous is such a sincere believer in the illusionary two-party American system and the authenticity of American elections. Made me laugh.

Hard for 'americans' when they are cornered by reality...

Easy for AnAnonymous when he is cornered by reality. Just create a new fantasy and escape into it...

Fri, 10/12/2012 - 16:59 | 2883021 Clashfan
Clashfan's picture

I get so tired of reading your responses to it that I have almost stopped reading them.

But I'm glad I read this one, one of your best efforts:

"In AnAnonymousitizenism, the stupider you are, the more likely you are to wok a dog, crap it out on the roadside, and blame the American middle class."

Oh, yeah. That's what I like to see on ZH. TY.

Fri, 10/12/2012 - 07:20 | 2880674 lakecity55
lakecity55's picture

You have obviously never seen the NAACP bus on election day rounding up votes with a pint and a Hamilton.

Fri, 10/12/2012 - 06:39 | 2880584 Bicycle Repairman
Bicycle Repairman's picture

It's not so much their vote as their compliance. 

Fri, 10/12/2012 - 06:36 | 2880581 Bicycle Repairman
Bicycle Repairman's picture

Without access to the state's power, the rich would simply hire mercenaries.  I'm afraid that unequal distribution of wealth is the problem.

Fri, 10/12/2012 - 06:58 | 2880617 AnAnonymous
AnAnonymous's picture

There are many ways to back up an extortion of the weak, farming of the poor scheme.

But 'americans' pride themselves that the 'american' state apparatus is the best tool ever to run the show.

One just must make sure not to fall on the wrong side of the deal, a fear that is overwhelming part of the 'american' middle class members as the planet is running out of steam to sustain the whole lot of the 'american' middle class in their way of life.

Fri, 10/12/2012 - 08:11 | 2880788 new game
new game's picture

chicken/egg debate; money bought that power, so what came first?

Fri, 10/12/2012 - 13:28 | 2882239 Anusocracy
Anusocracy's picture

Power.

The alpha-male social hierarchy, a gift from the animal world that is no longer needed.

Fri, 10/12/2012 - 00:18 | 2879948 AgShaman
AgShaman's picture

Cliff's Notes:

This will end badly

Fri, 10/12/2012 - 00:34 | 2879966 sink critically
sink critically's picture

Did the IRS change names? Last I knew it stood for Internal Revenue Service - not System.

So much for the Internal part...

Fri, 10/12/2012 - 01:09 | 2880019 Urban Redneck
Urban Redneck's picture

The External Revenue Service, used to be called Customs & Border Protection...

Fri, 10/12/2012 - 00:35 | 2879968 Seasmoke
Seasmoke's picture

every man for himself

Fri, 10/12/2012 - 11:08 | 2879993 Supernova Born
Supernova Born's picture

Darth is Luke's Father

Bruce Willis is dead too.

This will end badly.

Fri, 10/12/2012 - 01:08 | 2880017 Supernova Born
Supernova Born's picture

Charlie don't serf.

Charlie has EBT.

Fri, 10/12/2012 - 01:37 | 2880064 AynRandFan
AynRandFan's picture

"It's Free, Swipe Yo EBT"

http://youtu.be/NzspsovNvII

Fri, 10/12/2012 - 01:43 | 2880072 Clashfan
Clashfan's picture

Charlie's gonna be a napalm star! https://www.youtube.com/watch?v=m1nUkSHRb80

Fri, 10/12/2012 - 01:13 | 2880024 luckylongshot
luckylongshot's picture

While we are on the road to serfdom there is a possible exit...demoncracy means we can vote for anti-bankster political parties....but there are none...mmmm... not looking good.

Fri, 10/12/2012 - 03:07 | 2880132 New World Chaos
New World Chaos's picture

Demoncracy, haha.  Or was that a Freudian slip? 

Certainly no anti-bankster parties there.

Fri, 10/12/2012 - 17:02 | 2883034 Clashfan
Clashfan's picture

Slip or not, it's even more accurate than "plutocracy" or "corporatism."

Fri, 10/12/2012 - 01:34 | 2880059 AynRandFan
AynRandFan's picture

Absolutely the best-reasoned defense of this viewpoint I have ever seen.  Excellent logic, good writing.  Thank you.

Fri, 10/12/2012 - 04:33 | 2880202 matrix2012
matrix2012's picture

@ AynRandFan

"Absolutely the best-reasoned defense of this viewpoint I have ever seen.  Excellent logic, good writing.  Thank you."

 

I guess you referred to the posts by AustriAnnie, yup fully agree, they're of sound of reasons!  thank you too

Fri, 10/12/2012 - 01:36 | 2880060 news printer
news printer's picture

GOOD POST

Fri, 10/12/2012 - 01:40 | 2880070 polo007
polo007's picture

http://www.themoralliberal.com/2012/10/10/holding-the-fed-accountable-craig-columbus/

The Keynesian-dominated Fed sincerely believes that more QE will lower mortgage rates, further drive up asset prices, make cash appear increasingly unattractive, cause higher-end consumers to feel richer and thus spend more or purchase real estate—ultimately leading to additional demand and more hiring. Ifhome prices rise even marginally, banks will have fewer impaired assets and can ramp up lending.

Others contend QE damages confidence by implying that the American economy is on life support and tells home buyers and business owners that there is no need to act today when rates will remain low for as far as the eye can see. Furthermore, a majority of homeowners have already refinanced their housesfollowing previous Fed actions. Reasonable people can differ about the best approach for fighting deflationary forces.

An honest defense of QE should describe the techniques being employed to manage Washington’s massive debts. They include a tactic known as financial repression, which forces interest rates to levels below the rate of price inflation. By eroding the value of government debt held by bondholders and savers, politicians can dodge having to convince the public to accept unpopular austerity measures. It does mean, though, that the American people must accept “too big to fail” financial institutions in lieu of hard choices. To maintain unfettered access to the debt markets, the government backstops primary dealers at all costs.

Fri, 10/12/2012 - 02:17 | 2880115 pitz
pitz's picture

The pensioners and the old people voted for the politicians that created his mess -- they should have to suffer for it.  Not the young who have only had a relatively few number of voting years. 

Fri, 10/12/2012 - 02:51 | 2880138 natty light
natty light's picture

Who will buy their house?

Fri, 10/12/2012 - 06:43 | 2880585 Bicycle Repairman
Bicycle Repairman's picture

The old people are earning nothing on their savings.  Their pensions are getting ravaged by inflation.  Many have to remain in the work force into their 70s.

Happy now?

Fri, 10/12/2012 - 19:44 | 2883451 pitz
pitz's picture

The old people are earning plenty on their savings; cash and bonds have been the best performing asset classes (gold aside) for the past decade. 

Sun, 10/14/2012 - 10:18 | 2887113 Bicycle Repairman
Bicycle Repairman's picture

Those assets have outperformed other assets only because the other assets, including the old folks homes, have lost value.  All of these assets are losing propositions when compared to the cost of living and, most importantly, the old folks plans.

Fri, 10/12/2012 - 02:42 | 2880133 Quarky Gluon
Quarky Gluon's picture

Serfdom will only happen if we continue to allow the continued consolidation of wealth into fewer and fewer hands as has been going on now for decades unabated.  There is evidence everywhere of not wealth redistribution, but just the opposite -- wealth ultra concentration.  There was a recent record set at an exotic car auction for the most ever spent on rare vehicles that only the most exclusively rich can afford.  Manhattan condo prices have been going through the roof.  I don't know where these authors are dreaming up these fantasies of wealth confiscation going on when in reality it is subsistence confiscation from the middle class that is happening to the benefit of the ultra rich so they can buy their exotic cars and condos with views of Central Park. 

I propose a new system of taxation that bypasses the IRS and directly transfers funds from the accounts of extremely rich individuals and corporations and into the accounts of the middle class and poor and food shelves around the country.  Now that would be true wealth redistribution and instead of limiting freedom it would increase our freedoms by freeing us from the quiet desperation shackles of our daily financial burdens.  Just think how much freer we would be if we didn't have to work so many hours every week and instead could devote that free time to whatever we please, whether that be a passion or a leisure.  We are living in a land of bounty and mechanical and technological productivity.  The only reason we have to spend so much time and effort just to subsist is because a few have selfishly kept a mountain of wealth just for themselves and refused to share.  Well its about time we force them to share because they obviously are not going to do so voluntarily.  But no need for class warfare because there is no need for warfare -- just a change in the laws that mandate a peaceful, civil and legal transfer of wealth through bank transfers and the changing of names on property titles.  We can do this.  I think if such an idea were brought before the masses in the form of a referendum, it would have a good chance of passing.  Who wouldn't want to see some rich guy throw a tantrum as his toys get taken away; it would be worthy of a pay-per-view event, especially knowing that the proceeds from the confiscation would go to a good cause (the rest of us).

Fri, 10/12/2012 - 03:04 | 2880147 pitz
pitz's picture

Absolutely, just imagine how little all of us would have to work, if the millions of folks who are in the financial sector (and all of the people who support its functionality) were liberated from their roles and put to good and productive use? 

Fri, 10/12/2012 - 02:43 | 2880134 q99x2
q99x2's picture

I chose not to be an elite because of my religious beliefs. I won't go to war either. Work don't mention it. I prefer to see how long I can balance a pencil on top of another pencil. I'm still practicing with the eraser ends. When I get to the point to point level of discipline I'll know I've accomplished something with my life. So tomorrow I'm going to jog. Then I'm going to visit the ex in the rafters of a garage that she likes to hang in. I usually don't practice balancing the pencils after I visit her.

Fri, 10/12/2012 - 02:50 | 2880136 pitz
pitz's picture

You could join a religion that specifically has Elite (tm)s, such as SUKI (tm), The New World Religion (tm).  Ranks include Basic (tm), Élite (tm), SuperÉlite (tm), VIP (tm), and Profit (tm).  That would solve your dillema. 

Fri, 10/12/2012 - 02:50 | 2880137 pitz
pitz's picture

~~~

Fri, 10/12/2012 - 03:04 | 2880148 AnAnonymous
AnAnonymous's picture

'Americanism' has always been about confiscation of wealth. On the State, at least, 'americans' in the past were honest about that (honesty echoeing from the previous order) 'americanism' is a story of State base success. This was abundantly repeated when 'americans' were crushing stateless societies (from which they confiscated the wealth, confiscation going on)

Serfdom: nobility had several ways to promote people. One including stealing land from enemies to land favourites.

Ummmm, what notorious 'american' country, the mecca of 'americanism' in the world, performed the very same act to entitle its citizenry in middle class status?
Hint: when 'americans' residing in this country are asked to tell a country name starting by a U, they fail to mention their own country.

Best: this 'american' author might reveal himself by changing the usual 'american' tune: the elite is all around to destroy the middle class in the eat the rich song.

At least, that would tell that this 'american' author is on the right side of 'americanism', while most insecure middle class members are fearing to lose their dear spot and falling on the wrong side of 'americanism'...

Fri, 10/12/2012 - 03:21 | 2880157 akak
akak's picture

I am betting you ate a LOT of paint chips as a child.

Hell, in China they are probably sold in convenient snack-sized bags --- your choice of dogmeat, tiger penis, bear gall bladder, or human fetus broth flavors.

Fri, 10/12/2012 - 05:36 | 2880233 AnAnonymous
AnAnonymous's picture

If you are so fond of fleeing reality in your fancied chinese citizenism, maybe you should consider buying a plot of land in China. Chinese 'americans' are recruiting and would welcome new blood, especially one of that quality.

Fri, 10/12/2012 - 05:50 | 2880387 Just Ice
Just Ice's picture

Your consistant vigilance against the incessant flow of American hatism wordisms spewed forth by such an anus mouse is commendable.  (The inane ramblings and mutterances are certainly undeserving of the value of your time if you ever decide to take a break and ignore it, though.)   Gratitude, nonetheless.    

Fri, 10/12/2012 - 06:07 | 2880561 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, rewriting history and making up 'facts', again, said:

Serfdom: nobility had several ways to promote people. One including stealing land from enemies to land favourites.

Ummmm, what notorious 'american' country, the mecca of 'americanism' in the world, performed the very same act to entitle its citizenry in middle class status?
Hint: when 'americans' residing in this country are asked to tell a country name starting by a U, they fail to mention their own country.

Nothing more than the same unsupported assertions, the same retarded crap, the same excremental illness. Just today's rewritten history, courtesy of AnAnonymous. Tomorrow he will be telling us that Zoroaster was a founding father of US citizenism in 2000 BC.

Fri, 10/12/2012 - 07:02 | 2880629 AnAnonymous
AnAnonymous's picture

What are those unsupported assertions?

Fact that nobility had several ways to promote people?

Fact that the US government handed out the indian land to build the US american middle class?

It is funny what stuff 'americans' are led to deny in order to keep living their 'american' dream. Dont let reality bang too hard on the door, you might be dragged out of your dreaming act...

Fri, 10/12/2012 - 11:56 | 2881903 shovelhead
shovelhead's picture

Just goes to show ya...

It ain't yours if you can't hold it.

Fri, 10/12/2012 - 04:18 | 2880187 Floodmaster
Floodmaster's picture

Most rich have earned their money through Greenspan-Bernanke monetary policy.Financial deregulation have created an economy based on people who own things, creating richs through monetary creation produce nothing more than debt and conspicuous consumption. Rich must be industrialists,businessman,inventors not mcmansion owner.

Fri, 10/12/2012 - 04:21 | 2880194 Currency is Debt
Currency is Debt's picture

Semi-Capitalism is dead. Long live the worst features of Fascism and Communism molded into a new Ism

Fri, 10/12/2012 - 05:00 | 2880214 orangegeek
orangegeek's picture

And Von Hayek wrote "Road To Serfdom" in the 1940s.

 

 

Fri, 10/12/2012 - 06:10 | 2880558 Floodmaster
Floodmaster's picture

Funny, The road to serfdom is mainly run through unregulated banks. Frankenstein's monsters are engineered by these type of economists.

Fri, 10/12/2012 - 05:23 | 2880217 falak pema
falak pema's picture

This poster is all about Big State morphing into despotism under the impetus of the US Pax Americana model now losing its control on world events; notably in the economic field. Nobody can question that reality.

What we can question are the underlying hypotheses of this trend. For the poster its the corruption of freedom by statism now rampant. As fiat money propogation is now its instrument to level the economic field and destroy all market initiative; whence individual freedoms of entrepreneurship are percieved in jeopardy. 

What this poster does not address are two fundamental trends of industrial/post industrial society which can now be rationally questioned : 

1° Is the materialistic model based on exponential growth compatible with the visible limitations of the physical earth as we understand it?

Are we not hurtling towards insurmountable problems of ecological and resource constraints that are more important than this hubristic and quixotic quest for material well being, called entrepreneurial success, in the status quo paradigm?

Something is very wrong in the narrow scope of this poster's vision of the future. In the light of our planet's visible degradation as we hurtle along to consume more and more of the earth's non renewable crust and atmospheric, invisible dust; first, second and third world participants in this mad hatter's deadly game; all on the same debased economia model page!

2° Cause and effect. What caused this crisis of capitalism? 

To pretend its runaway statism is a negation of facts. That the statist factions of society now profit from the disarray of the Oligarchs; epitomised by the WS clique, aka Jamie Dimon now threating to unleash financial Armageddon, if the state does not feed the wealth sustaining pump of those who have accumulated inordinate wealth, in paper assets as in hard RE/commodity assets, is a natural expression of two dominant, thieving classes falling out! 

Those who run the world since sixty more years, both Big Business Oligarchs of private initiative as Czars of statist hyper bureaucracy, have been in cahoots to create this supreme betrayal of current civilization. In the land of the free, home of the brave...You are what you do and the whole world now knows it. 

No, although the poster does raise the issue of more inevitable despotic statism being the consequence of past Oligarchy hubris, the issue of civilization reset is much larger than the trade-off he perceives.

We are in paradigm change of much deeper nature, and this post does not even scrape the surface of those issues, underlying the froth and frenetic knee-jerks of current Pax Americana run world in deep convulsion. 

Ps : Just look at this chart to see where the ultra rich reside in the world : Our modern age reality.

Credit Suisse Wealth Report: Ultra Rich - Business Insider

Fri, 10/12/2012 - 05:30 | 2880227 tradewithdave
tradewithdave's picture

Not to be revisionist in my history, but it actually began badly and will end most excellently, but you are correct that it will get worse before it gets better. 

www.tradewithdave.com

Fri, 10/12/2012 - 05:32 | 2880229 chistletoe
chistletoe's picture

Technical skills continue to deteriorate.

Math skills continue to deteriorate.

engineering skills continue to decline.

 

Meanwhile, the energy sector becomes more and more complex, the electric grid becomes more and more complex, and most especially, the communications grid becomes more and more specialized and complex.  One of these days, all of that shit is gonna come down.  Probably in about two days. No one knows how to fix it in the dark.   And when that happens,all of the money counting and registering systemand stock ownership and bond ownership go down with it.   The government will lose ALL its power over the serfs ... because the people in the govenrment are the most ignorant and unimaginative of all ....

 

free at last!!!!!!!!!

Fri, 10/12/2012 - 05:38 | 2880238 pitz
pitz's picture

Plenty of engineering skills in America.  Except the financial types are hell-bent on stopping us from improving the living conditions of the people. 

Fri, 10/12/2012 - 11:11 | 2881743 Encroaching Darkness
Encroaching Darkness's picture

Agreed. I get to watch as some really bright people present cutting-edge work at conferences in electrochemistry, solid-state devices, nanomaterials, etc. There are things being discovered, explored and understood (commercialized) now that were unimaginable ten years ago, or maybe even five.

What I'm afraid of is that we're losing grip on the infrastructure, that the skills and personnel needed to keep the existing systems running are leaving, retiring or passing away too fast. It takes some time to educate, train and develop the kind of expertise that a ten-year machinist has; that a ten-year engineer has; that a ten-year maintenance mechanic has. All the whiz-bang brightness in the world is rather limited if the grid goes down; do you think that an XRD machine, a CNC lathe or mill, or a wafer fab plant can run by candlelight and water-mill power?

Galileo did a lot by candlelight, but three-phase power and LED lamps light up a lot more territory...

Fri, 10/12/2012 - 06:25 | 2880572 hedgehog9999
hedgehog9999's picture

The RESET is coming folks! for serfs and elites alike, it does not matter. Good luck!!

Fri, 10/12/2012 - 07:23 | 2880679 new game
new game's picture

It is hopeless, but not because i say, but because of a million events heading to the demise in all of policies to sustain society.

not enuf type to elaborate on a million events, but let me point out the most recent and the ramnifications.

40B of mbs in direct purchse from banks in exchange for created out of thin air dollars to the banks.

first off that puts a hell of a lot of middleclasess last skin in the game (equity) in the hands of the fed as the holder of the mortgage.  ok, fine if you can make that payment.  what if as above suggestion(article) or FACT of reality ie, the econ continues to deterioate.

now we see the pieces of the picture in place to a$$ rape the last money from the middle class being taken for absolute free by the top of the pile elite fed as they ultimately stear the econ to diasaster as these million policy decisions head us financialy down the shitter.

and what is the 40 billion exchanged to the banks doing; well first off they have to pay back the leveraged monies to create the mortgage, but with the fees and such they keep the ball rolling and growing by leverage and derive huge returns in the process and continue to a$$ rape us as they(banksters) have no skin in the game as this money is moved along with risk free "returns". warehouse a mortgage for one month.derive huge returns (and buy treasuries, most likely in confidential agreeance), rinse repeat as the fed again backstops the banks purchase of treasuries with more money created out of thin air. at this point the can is kicked and this whole scheme is kept afloat for another day.  the downturn we are experiencing is ongoing(as productive money goes to gub and is not invested in business expansion) and has a point of inflection when unemployment hits 25 percent and the sheep realize they are fucked. no job to pay the mortgage, an economy engulfed by nonproductive gub control, and ultimately unrest, and war as we experience currency wars, trade wars and the real war of blood in the streets. 

suggestion move to iceland or a point on the earth where there the ruling class is only in the early stages of the progression to socialism...

Fri, 10/12/2012 - 07:13 | 2880662 lakecity55
lakecity55's picture

I'd rather be a smurf under Mittens. He allows you to store food, and will get rid of the Butch at DHS.

Fri, 10/12/2012 - 19:33 | 2883413 Ckierst1
Ckierst1's picture

The man holds nothing sacred. He is the centerfold iconic flipflopper. I think he is probably even playing his fellow Mormons for suckers and is likely to bring shame and disgrace down on that faith, deservedlyfor their lack of true CTR. He also lacks the economic tools to do the economic recovery thing and is bought by Wall St. He made it quite clear he's just another control freak during the primary runup and GOP NatCon. He's just another neocon fascist posing as a sheep. I don't see anything on the radar screen that I want to vote for.

Fri, 10/12/2012 - 07:51 | 2880741 new game
new game's picture

could be summed up as 25/50/100 percent fucked with

25=unemployedd with zero prospect of a job ie france, spain, italy and a nation near and dear to you.

50 percent taxation with flight of capitol to avoid the jackboot.

and 100 percent chance of disorder, unrest and ultimately blood someway, somewhere but ussually in the streets and on the hands of these peoples that created the problems in the first place.

history, history and more history repeating as is and will always be.

this time with 6.7 billion hungry atoms in collision- fight for diminishing resources...

mother earth is pucking, atoms colliding ever so more often and a hell on earth sceario unfolding economically and physically with the 108 elements as unsustainable usage/recycle system is aborted. we can only observe the demise...

wish/think/realize/checkout/turnoff>enjoy what is left b/4 up in smoke(war post euro ww2)...

Fri, 10/12/2012 - 08:02 | 2880765 ChacoFunFact
ChacoFunFact's picture

I, slave?  Admiralty Law?

Birth canal = berth canal

birth certificate = bill of lading

passport = port pass

Court rooms look like the inside of ships?

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