The chart below is self-explanatory, and somewhat jaw-dropping...
Source: debt to the penny
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Abe will one up this before it all goes crashing out.
The first hill of the world's biggest roller coaster. Keep hands and feet in the car at all times and thanks for visiting Earth.
Forgive my snarkiness, but the chart is not jaw-dropping at all. It merely shows how successful Bernanke has been at doing his job: turning the American people into debt slaves to the banks, and tax slaves to the government.
“Never attribute to malice that which can be adequately explained by stupidity.”
At one time, I too credited the follies of Bernanke and Krugman to being institutionally dim-witted academics unable to see beyond their sychophantic echo-chamber, but alas, no more. I believe them to be fully aware of their status as high-priests to the oligarchy, and that their role is to perpetuate said establishment. History, both past and present, has contradicted them too numerously for men with such great access to information to be blind of their own actions.
I love how Bastid Bernanke threw the responsibility back onto the politicians with his sensational term, "Fiscal Cliff." Great Psy-fake-out. What about the CURRENCY CLIFF you piece of trash?
All the prerequisites for a hyperinflationary collapse now taunt America
So the money supply is increasing at great speed and decreasing at great speed at the same time?
There is nothing the Fed can do, this has been known before you were born. The collapse will happen as the demand/supply was no longer able to expand exponentially to pay for the prior i.e. interest.
The equation has been in place since the last collapse to once again collapse, usually a 60-80 year cycle or a generation.
"now taunt America"
Has nothing to do with America, more like the world as anyone that uses or is connected to the using the equation will feel the blunt force of the end result of the equation.
1-2 billion unfunded liabilities will have to be liquidated is my guess.
It's only $.164 Quadrillion
I think it would be .0164Q, they are really just numbers where the decimal point can be moved. After 60-80 years or a generation... whatever number base you are using is really irrelevant, the system will not be able to exponentially grow.
Weimar Republic here we come. Poverty is wealth. Slavery is freedom. Oppression is liberty.
How Orwellian of you
Here's another chart.
This is the end result every time... the Weimar Republic is just the symptom of the problem.
You start a system where you attach interest to your medium of exchange it's going to be the same result. There is nothing the government or the Fed can do, all paths lead to the same place.
$16,366 billion! The rest of us, we don't know so much about zeros. But Bernanke, when you talk about zeros, he knows about zeros. And when he comes around, your stuff becomes zero.
Mako's back !!!
+55 Mako has been right from the start. Is Mako Karl Denninger?
Bernank will taunt us,
and now we are taut,
because we haven't been taught,
but he's now going to teach us, but good...
Can't wait for Bernake to leave, go back to Princeton, and start making the big $$ on the lecture circuit bemoaning his successor's "irresponsibility". Oh, the humanity.....
Incredibly well said, Mr. Magniloquent.
The qualifications for either of their positions is very, very unique. Just think about it. You would have to be devoid of a concious, and be able to tell everyone a complete lie with a straight face, and perform acts which would surely commit one to hell if there is such a place. For what?
I suppose the malice is in the fact that keep trying to cover up their stupidity.
I can't believe that we strung so many generations of stupid bankers together. They knew what they were doing if not by plan then by results.
Funny all I see is 7 billion bankers.
I thought about going into banking (as I have an engineering degree and MBA).....but, at about the time I was seriously considering it, I had an awakening and decided since I had a soul that I could not possibly do it. Was not going to compromise myself just for $.
Fuck the bankers and what they represent.
I see debt people
Sounds more like Pollyanna's excuse.
Are you saying US Gov't/Fed policies are adequately explained by stupidity?
Too bad the leaders are not a bit smarter (like ...you?), then they would no longer promote handouts to the TBTFs and their political cronies, no longer arrogantly support dictatorships and apartheid regimes, and no longer seek the power and enrichment that comes from global militarism and war profiteering.
I'd maybe believe that if the banksters that caused the crash didnt also profit so generously from it while everyone else not connected to the money cartel pays the bills with decreased wages, access to jobs, and inflation.
The Fed is the Soproanos mafia family and We the People are the Sporting Goods store owner -
Heninlein, I think
I believe Hanlon said it first and Heinlen slightly altered it.
"You have attributed conditions to villainy that simply result from stupidity"
And then there's:
"Never ascribe to malice that which is adequately explained by incompetence"
"...misunderstandings and neglect create more confusion in this world than trickery and malice. At any rate, the last two are certainly much less frequent."
"Many journalists have fallen for the conspiracy theory of government. I do assure you that they would produce more accurate work if they adhered to the cock-up theory."
—Sir Bernard Ingham
Hey Frewheelin'freak, if you aren't some Fed suck-up troll and actually believe Berskankee is just stoopid ask yourself this simple question,. "How could the head of the private monoply controling the issuance of the nation's currency not know the function gold plays in the financial system?"
One word: Arrogance.
we are definitely tax slaves...but NOT debt slaves. at least not YET. to discharge a debt "all" i need to do is earn dollars. where the problem comes about is where the government uses "electro dollars" to discharge "balance of payment issues." (the trade deficit has SOARED under Obama: http://seekingalpha.com/article/1066221-the-trade-deficit-grows-the-u-s-... a currency is a MEANS OF EXCHANGE first and foremost. Once the "faith" is lost then all those dollars must find a home somewhere...what is called the "dollar overhang" (the fact that there are trillions of worthless greenbacks in circulation worldwide)...now "comes home with a vengeance." instead of being used to prop of a worthless debt regime those dollars are used to generate an inflation...causing foreign capital to flee and interest rates to start rising. i think Chairman Bernanke has STRONGLY hinted at that...not that he would ever raise interest rates of course... but that the..ahem.."market will." of course "this is a seemless process by which the entire US edifice called "an economy" collapses." it's really no big deal. how 'bout a slurpie to help keep your mind off these things!
To pass judgment on Bernake I need a chart of longer duration.
Are you a true Patriot¿¿¿¿¿¿¿¿
That was half-vast!
Don't worry, soon enough it will be the Triple down.
.... and place your seat in an upright condition with your meal tray stowed. Vomit bags are located in your forward magazine pocket. Please keep your seatbelt fastened.
Yes, vast-dom, the first BIG dominos of this new collapse look to come from poor, benighted Japan. Maybe we should just let them build nukes, balance of power and all...
But, as you imply, we have a big scary time ahead as huge "wealth" gets lost in the Great Deleveraging.
Funny thing is all that wealth is back with nothing but IOU's based from other IOU's.
If the wealth is lost, nothing is really lost.
The middle class and poor lost real wealth - that comes from LABOR.
The rest of the economy is simply wealth extraction by the Rentiers. Malinvestment.
Free markets used to be about the freedom from wealth extraction by the Rentiers - now the Free Market is the freedom FOR the Rentiers to steal everything not tied down - and to burn anything that Is tied down.
LIBOR CONNECTION………. Robert Holmes, father of James Holmes Batman Movie shooter, was going to testify in LIBOR Scandal.
Peter Lanza, father of Adam Lanza Sandy Hook shooter, was going to testify in LIBOR Scandal.
CNBC Ex had his small children murdered recently over 43 trillion banking scandal.
SOMETHING IS GOING ON HERE…….
Stop eatting paint... really, it's crunchy and all, but it's putting da'big hert on yur da' brain.
You are jumping to conclusions it could be caused by drugs, environment, being correct or even luck.
But John Holmes fucked anything and everybody
that is a chilling coincidence.
some of my first coherent memories were jfk assassination, i no longer believe anything from media or government.
they could have just poisoned his burrito. i don't know that they had to put something like this in motion. "GE Exec eats poisoned burrito, world cheers". everyone would have forgot about him the next day.
nope, killing him would lead to questions. threatening/killing family will ENSURE that he is compliant with their wishes....remeber he still has another son that is alive.
The whole Global Crime Syndicate Economic system is tied into intelligence, espionage, bribery, racketering, terrorism, False Flags and murder. Run by the CIA, MI6, Mossad out of the City of London of which Wall Street is just an extension of.
The new Jerusalem... Shalom...
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