This page has been archived and commenting is disabled.

75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe

Tyler Durden's picture





 

Compiled by Michael of Investment Watch blog,

What a year 2012 has been!  The mainstream media continues to tell us what a “great job” the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class.  It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening.  If nothing is done, our debt problems will continue to get worse, millions of jobs will continue to leave the country, small businesses will continue to be suffocated, the middle class will continue to collapse, and poverty in the United States will continue to explode.  Just “tweaking” things slightly is not going to fix our economy.  We need a fundamental change in direction.  Right now we are living in a bubble of debt-fueled false prosperity that allows us to continue to consume far more wealth than we produce, but when that bubble bursts we are going to experience the most painful economic “adjustment” that America has ever gone through.  We need to be able to explain to our fellow Americans what is coming, why it is coming and what needs to be done.  Hopefully the crazy economic numbers that I have included in this article will be shocking enough to wake some people up.

The end of the year is a time when people tend to gather with family and friends more than they do during the rest of the year.  Hopefully many of you will use the list below as a tool to help start some conversations about the coming economic collapse with your loved ones.  Sadly, most Americans still tend to doubt that we are heading into economic oblivion.  So if you have someone among your family and friends that believes that everything is going to be “just fine”, just show them these numbers.  They are a good summary of the problems that the U.S. economy is currently facing.

The following are 75 economic numbers from 2012 that are almost too crazy to believe...

#1 In December 2008, 31.6 million Americans were on food stamps.  Today, a new all-time record of 47.7 million Americans are on food stamps.  That number has increased by more than 50 percent over the past four years, and yet the mainstream media still has the gall to insist that “things are getting better”.

#2 Back in the 1970s, about one out of every 50 Americans was on food stamps.  Today, about one out of every 6.5 Americans is on food stamps.

#3 According to one calculation, the number of Americans on food stamps now exceeds the combined populations of “Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.”

#4 According to one recent survey, 55 percent of all Americans have received money from a safety net program run by the federal government at some point in their lives.

#5 For the first time ever, more than a million public school students in the United States are homeless.  That number has risen by 57 percent since the 2006-2007 school year.

#6 Median household income in the U.S. has fallen for four consecutive years.  Overall, it has declined by over $4000 during that time span.

#7 Families that have a head of household under the age of 30 have a poverty rate of 37 percent.

#8 The percentage of working age Americans with a job has been under 59 percent for 39 months in a row.

#9 In September 2009, during the depths of the last economic crisis, 58.7 percent of all working age Americans were employed.  In November 2012, 58.7 percent of all working age Americans were employed.  It is more then 3 years later, and we are in the exact same place.

#10 When you total up all working age Americans that do not have a job in America today, it comes to more than 100 million.

#11 According to one recent survey, 55 percent of all small business owners in America “say they would not start a business today given what they know now and in the current environment.”

#12 The number of jobs at new small businesses continues to decline.  According to economist Tim Kane, the following is how the decline in the number of startup jobs per 1000 Americans breaks down by presidential administration

Bush Sr.: 11.3

Clinton: 11.2

Bush Jr.: 10.8

Obama: 7.8

#13 The U.S. share of global GDP has fallen from 31.8 percent in 2001 to 21.6 percent in 2011.

#14 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

#15 There are four major U.S. banks that each have more than 40 trillion dollars of exposure to derivatives.

#16 In 2000, there were more than 17 million Americans working in manufacturing, but now there are less than 12 million.

#17 According to the Pew Research Center, 61 percent of all Americans were “middle income” back in 1971.  Today, only 51 percent of all Americans are.

#18 The Pew Research Center has also found that 85 percent of all middle class Americans say that it is harder to maintain a middle class standard of living today than it was 10 years ago.

#19 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.

#20 Right now, approximately 48 percent of all Americans are either considered to be “low income” or are living in poverty.

#21 Approximately 57 percent of all children in the United States are living in homes that are either considered to be either “low income” or impoverished.

#22 According to one survey, 77 percent of all Americans are now living paycheck to paycheck at least part of the time.

#23 Back in 1950, more than 80 percent of all men in the United States had jobs.  Today, less than 65 percentof all men in the United States have jobs.

#24 The average amount of time that an unemployed worker stays out of work in the United States is 40 weeks.

#25 If you can believe it, approximately one out of every four American workers makes 10 dollars an hour or less.

#26 According to the U.S. Census Bureau, an all-time record 49 percent of all Americans live in a home where at least one person receives financial assistance from the federal government.  Back in 1983, that number was less than 30 percent.

#27 Right now, more than 100 million Americans are enrolled in at least one welfare program run by the federal government.  And that does not even count Social Security or Medicare.  Overall, there are almost 80 different “means-tested welfare programs” that the federal government is currently running.

#28 When you account for all government transfer payments and all forms of government employment, more than half of all Americans are now at least partially financially dependent on the government.

#29 Barack Obama has been president for less than four years, and during that time the number of Americans “not in the labor force” has increased by nearly 8.5 million.  Something seems really “off” about that number, because during the entire decade of the 1980s the number of Americans “not in the labor force” only rose by about 2.5 million.

#30 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#31 According to USA Today, many Americans have actually seen their water bills triple over the past 12 years.

#32 There are now 20.2 million Americans that spend more than half of their incomes on housing.  That represents a 46 percent increase from 2001.

#33 Right now, approximately 25 million American adults are living with their parents.

#34 As the economy has slowed down, so has the number of marriages.  According to a Pew Research Center analysis, only 51 percent of all Americans that are at least 18 years old are currently married.  Back in 1960, 72 percent of all U.S. adults were married.

#35 At this point, only 24.6 percent of all jobs in the United States are good jobs.

#36 In 1999, 64.1 percent of all Americans were covered by employment-based health insurance.  Today, only 55.1 percent are covered by employment-based health insurance.

#37 Recently it was announced that total student loan debt in the United States has passed the one trillion dollar mark.

#38 If you can believe it, one out of every seven Americans has at least 10 credit cards.

#39 One survey of business executives has ranked California as the worst state in America to do business for 8 years in a row.

#40 In the city of Detroit today, more than 50 percent of all children are living in poverty, and close to 50 percent of all adults are functionally illiterate.

#41 It is being projected that half of all American children will be on food stamps at least once before they turn 18 years of age.

#42 More than three times as many new homes were sold in the United States in 2005 as will be sold in 2012.

#43 If you can believe it, 53 percent of all Americans with a bachelor’s degree under the age of 25 were either unemployed or underemployed last year.

#44 The U.S. economy continues to trade good paying jobs for low paying jobs.  60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.

#45 Our trade deficit with China in 2011 was $295.5 billion.  That was the largest trade deficit that one country has had with another country in the history of the planet.

#46 The United States has lost an average of approximately 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.

#47 According to the Economic Policy Institute, America is losing half a million jobs to China every single year.

#48 The U.S. tax code is now more than 3.8 million words long.  If you took all of William Shakespeare’s works and collected them together, the entire collection would only be about 900,000 words long.

#49 According to the IMF, the global elite are holding a total of 18 trillion dollars in offshore banking havens such as the Cayman Islands.

#50 The value of the U.S. dollar has declined by more than 96 percent since the Federal Reserve was first created.

#51 2012 was the third year in a row that the yield for corn has declined in the United States.

#52 Experts are telling us that global food reserves have reached their lowest level in almost 40 years.

#53 One recent survey discovered that 40 percent of all Americans have $500 or less in savings.

#54 If you can believe it, one recent survey found that 28 percent of all Americans do not have a single penny saved for emergencies.

#55 Medical costs related to obesity in the United States are estimated to be approximately $147 billion a year.

#56 Corporate profits as a percentage of GDP are at an all-time high.  Meanwhile, wages as a percentage of GDP are near an all-time low.

#57 Today, the wealthiest 1 percent of all Americans own more wealth than the bottom 95 percent combined.

#58 The wealthiest 400 families in the United States have about as much wealth as the bottom 50 percent of all Americans combined.

#59 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percentof all Americans combined.

#60 At this point, the poorest 50 percent of all Americans collectively own just 2.5% of all the wealth in the United States.

#61 Nearly 500,000 federal employees now make at least $100,000 a year.

#62 In 2006, only 12 percent of all federal workers made $100,000 or more per year.  Now, approximately 22 percent of all federal workers do.

#63 If you can believe it, there are 77,000 federal workers that make more than the governors of their own states do.

#64 Nearly 15,000 retired federal workers are collecting federal pensions for life worth at least $100,000 annually.  The list includes such names as Newt Gingrich, Bob Dole, Trent Lott, Dick Gephardt and Dick Cheney.

#65 U.S. taxpayers spend more than 20 times as much on the Obamas as British taxpayers spend on the royal family.

#66 Family homelessness in the Washington D.C. region (one of the wealthiest regions in the entire country) has risen 23 percent since the last recession began.

#67 If Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

#68 During fiscal year 2012, 62 percent of the federal budget was spent on entitlements.

#69 Back in 1965, only one out of every 50 Americans was on Medicaid.  Today, approximately one out of every 6 Americans is on Medicaid.

#70 It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

#71 Medicare is also growing by leaps and bounds.  As I wrote about recently, it is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.

#72 Thanks to our foolish politicians (including Obama), Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years.  That comes to approximately $328,404 for each and every household in the United States.

#73 Amazingly, the U.S. national debt is now up to 16.3 trillion dollars.  When Barack Obama first took office the national debt was just 10.6 trillion dollars.

#74 During the first four years of the Obama administration, the U.S. government accumulated about as much debt as it did from the time that George Washington took office to the time that George W. Bush took office.

#75 Today, the U.S. national debt is more than 5000 times larger than it was when the Federal Reserve was originally created back in 1913.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 12/21/2012 - 18:48 | Link to Comment francis_sawyer
francis_sawyer's picture

In reference to #75... Put that fucking chart [from the other day] back up that made parallel WARS to PAPER DEBT... Then ~ go about understanding who is the beneficiary of that debt [& what their RISK was]... That's all you need to know about anything...

Fri, 12/21/2012 - 19:06 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The best part about debt-fueled growth is that the payments on consumption can be delayed.

The worst part about debt-fueled growth is that the bills inevitably come due.

The Bernank, as just one of the puppet front men for the Merry League of Extraordinary Fractional Fiat Ogilopolists, wishes all debt slaves a very indebted Holiday Season & New Year, bitchez.

Fri, 12/21/2012 - 19:07 | Link to Comment Chupacabra-322
Fri, 12/21/2012 - 19:12 | Link to Comment flacon
flacon's picture

"#13 The U.S. share of global GDP has fallen from 31.8 percent in 2001 to 21.6 percent in 2011."

 

That's actually a good thing since according to Keynes' equation GDP = GOVERNMENT SPENDING. The lower the GDP the better IMHO. In fact we need negative GDP. 

Fri, 12/21/2012 - 19:20 | Link to Comment NotApplicable
NotApplicable's picture

Well, what we need is a GDP calc that subtracts government spending from GDP, as it is a consumption of gross product, not a manufacture of it.

Fri, 12/21/2012 - 19:43 | Link to Comment Lednbrass
Lednbrass's picture

Want to see some really depressing numbers? Make a list of GDP for every year for the last 30 years, subtract government deficit spending then adjust for inflation. The resulting picture is pure ugly, our real economy has been contracting for a very long time.  I only went back to 1980 but I suspect it can be traced for at least a decade before that.

Fri, 12/21/2012 - 20:03 | Link to Comment Pseudo Anonym
Pseudo Anonym's picture

[...] our real economy has been contracting for a very long time.

that happens everytime the gullible public lets hofjuden manage other people's money - theft; that tribe is well known for it

Fri, 12/21/2012 - 20:17 | Link to Comment Michaelwiseguy
Michaelwiseguy's picture

This should be on the front page of ZH. Bloggers are hammering the elite and winning. This really is a must see.

Ex CIA agent explains how to delete the elite! http://www.youtube.com/watch?v=WLr8ZvgURg0&feature=related
Fri, 12/21/2012 - 20:37 | Link to Comment Sudden Debt
Sudden Debt's picture

It's not the elite that's the problem. It's the 99% who is fat, lazy and stupid.

Fri, 12/21/2012 - 21:13 | Link to Comment Bollixed
Bollixed's picture

I know she's 99% fat, but leave my mother-in-law out of this...

Fri, 12/21/2012 - 22:59 | Link to Comment markmotive
markmotive's picture

Here's a fact from the mouth of Jeff Gundlach: "The next recession will be a killer"

http://www.planbeconomics.com/2012/12/18/full-jeffery-gundlach-interview...

Forget the past...it's the future you need to worry about.

Sat, 12/22/2012 - 00:43 | Link to Comment prains
prains's picture

If only it was 69 economic numbers to crazy to believe then it would have made more sense

because in this economy somebody has to end up with somebody elses bum in their nose.

Sat, 12/22/2012 - 08:26 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

 

Welcome aboard the Titanic. Sit back and enjoy the ride.

 

Next stop New York.......we hope.

Sat, 12/22/2012 - 09:29 | Link to Comment flattrader
flattrader's picture

In regards to War/Debt issue

>>>In reference to #75... Put that fucking chart [from the other day] back up that made parallel WARS to PAPER DEBT<<<

Not certain which chart your are reffering to, but see the charts at the end of this document.

http://costsofwar.org/sites/default/files/articles/29/attachments/Edward...

Yes.  Everyone need to get a clue.

Cell phones are not the problem.

 

Sun, 12/23/2012 - 13:04 | Link to Comment OutLookingIn
OutLookingIn's picture

No matter which way,

you cut the cake -

Its over done.

U. S. of A. is done.

Put a fork in it.

Say 'Good Night' Gracey...  

Fri, 12/21/2012 - 20:35 | Link to Comment Sudden Debt
Sudden Debt's picture

and all they can figure out is.... to solve the pension problems... they feel that people need to work longer...
but nothing to create jobs...
just raise taxes...

there simply isn't a answer to our problems. we reached the tipping point in 2007. The only thing that hasn't happened is that the 99% don't realize what's happened and happening.

I'm not the 99%...
I'm not rich. But for me, the 99% reflects being a total moron with no interests in the world around you.

The 99% will not have seen it comming... they waited for that sign of God to warn them which is hitting them in the face every day.

But why would they want to see it?
If they would want to see it, they would need to do something.
They expect "smarter people" to tell them what is happening and what they should do.
But they don't know who the smart people are. And no... It's not BoBo the clown.

The 99% believe all will be fine in the end.

The 99% believe the good guys will win in the end. But who are the good guys?
Are the 99% the good guys who onyl want to buy the cheap stuff made by slave labor and child labor?
Are the 99% the good guys because they feel they should get a good job just because? without doing anything?

We already lost 1 generation. The 99% thinks we risk on losing a generation.

The 99% rather buy a iPhone instead of buying a roll of silver eagles.
the iPhone is old after 12 months and needs to be replaced. the phone bills take out 7% on average out of their budget.

The 99% all want a smartphone that can take pictures. they want to create the news. But don't bother to read the real news.
Their news of interest is "sex with pregnant woman" "LED screens at super discounts"... the 99% isn't interested in politics.
But the 99% feels that the politicians should GIVE THEM the tax money. To spend it on THEM. SO THEY DON'T NEED TO WORK.

People hate work. More Quality time.... in front of the television, holding a iPad, ignoring their kids.

The 99% are the problem.
The 99-% should protest against themselves.
The 99% should read up before they open up their mouth.
The 99% should shut up if they bought more cheap plastic crap than they use.
The 99% should shut the fuck up and take it in the ass. And if not.... they should do something about it.
NOT just protest to get more money without effort.

Everybody says our parents had it better... but they worked a lot harder than we do.

They had a lot less than we do at their age.

Crisis? Poor? Go talk to a african or a Indian or a South American and ask them what poor means.

Wednesday, I had a young kid complaining he didn't make enoughh money. He had trouble paying for a 2 week vacation to spain this christmass.... WHAT?!?!

That isn't normal! Not every job should allow you to go on vacation twice a year and do 50 citytrips a year!

Everybody wants it all. The lowest paying jobbers think they should have the same what the top jobbers have!

I have employees who brag they have a bigger car than me!
But I can pay for mine!

The mirrage... that's what destroying the western world.
And to get better... the mirrage needs to vanish. And that is what will hurt the 99% and drive most of them to suicide.

Take a pill, shut yourself out from the real world, ignore it all, put your head into the sand! And everything will fix itself... sure...

Fri, 12/21/2012 - 21:36 | Link to Comment klockwerks
klockwerks's picture

  Sudden debt,True that. Not sure of the 99% buyt 90% seems very realistic. They are completly unaware and do not want to know squat. When it crashes, sooner then later I'm afraid, they will wonder what happened and why no one let them know, DUH!

Fri, 12/21/2012 - 22:45 | Link to Comment willwork4food
willwork4food's picture

Not even 90%. I would give it 40% that reality will hit them in the face like a wet tuna in the morning after a night out on the town. Even that is a huge enough number to rattle the other 60% and bring nightmares.

Sat, 12/22/2012 - 10:47 | Link to Comment TuPhat
TuPhat's picture

When I read Zero Hedge my family says, Dad's reading that doom and gloom stuff again.  They don't think it's real.  I try to prepare in  spite of that but it ain't easy.

Sat, 12/22/2012 - 12:43 | Link to Comment Harbanger
Harbanger's picture

The MSM is responsible for keeping people in the dark.  Who do you suppose they are going to blame for the crash?  And who do you suppose they will promote as coming to our rescue?   Forward!

Sat, 12/22/2012 - 12:37 | Link to Comment sun tzu
sun tzu's picture

I would say closer to 50% are clueless

Sat, 12/22/2012 - 02:12 | Link to Comment Seer
Seer's picture

Perhaps people feel powerless?  Imagine having a family and then something horrific happens that results in severe economic hardship.  What are you going to do?

A lot of people talk tough (and many like to inflate themselves by denigrating others), but I doubt they've got the mettle to handle when it gets tough.

Yes, there are LOTS of people who are gleefully ignorant.  Look in the mirror and proclaim yourself fortunate to have been born knowing how things work.  Huh?  You weren't born knowing?  Alrighty then... At what point did you become knowing? My POINT is that everyone comes to "know" at their own time and pace.  OK... some will likely never "know," but then again, are we so certain that we "know?" (if you're still thinking that perpetual growth on a finite planet is possible then you're NOT a knower)

I started upon the path to knowing when I started to question every premise.

Sat, 12/22/2012 - 04:05 | Link to Comment Parrotile
Parrotile's picture

Maybe one aspect of "The Problem" is that the Education System seems designed to produce such a population.

Think from a Politician's viewpoint: Is it easier to manipulate a relatively uninformed population who have been conditioned to accept your word as "the word of God", or would you rather have to face the regular grilling of a well informed populace, who were somewhat more keen on extracting value for money from you (in return for a salary and pension that they were willing to provide).

In Australia you have only to consider the two major parties to understand that the majority will be right royally stuffed (ALL generations - Boomers, Gen X, Gen Y and the Millenials)

There will be NO "Pensions" for the masses, and we strongly suspect that private Superannuation assets might just be liable to seizure "to support your Country in its hour of need".

Maybe NOW is the time to gain the skills you WILL need for what seems to be a more realistic model of the future World. Skills that are almost all practical, and skills that will be acceptable planet-wide.

Might not be a bad idea to develop a workable plan for moving internationally in the absence of GPS / Mobile Telephony/ third-party dependent information & communication services.

Alternatively stop wasting money on trivia, and set about ensuring you are as autonomous as practicable (water, wastewater, power, irrigation). Owing to global overcapacity decent PV panels are really cheap right now, as are many smaller (so easier-to-repair) wind turbines.

Do these things now, because tomorrw is coming, and tomorrow doesn't look very pleasant at all . . . . .

Sat, 12/22/2012 - 13:30 | Link to Comment akak
akak's picture

"Superannuation"???

 

Just what the Hell does THAT mean ---- living to age 200?

Sat, 12/22/2012 - 11:50 | Link to Comment CheapBastard
CheapBastard's picture

<<What are you going to do?>>

 

1. pay off all debts;

2. get a second job if you have to (like I did to pay off my student loans);

3. pay everything with cash;

4.educate yourself by reading ZH and other solid financial blogs;

5. save;

6. save more.

Fri, 12/21/2012 - 22:07 | Link to Comment WT Sherman
WT Sherman's picture

"I'm not the 99%...
I'm not rich. But for me, the 99% reflects being a total moron with no interests in the world around you."

Recommend 1000 times!

Sat, 12/22/2012 - 08:29 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

 

Not sure what percent I'm in, but if the 99% are going to act like that....I say screw'em.

Fri, 12/21/2012 - 23:20 | Link to Comment markovchainey
markovchainey's picture

Someone's been drinking...

and thank Goddess because that was beautiful!

Fri, 12/21/2012 - 23:38 | Link to Comment sosoome
sosoome's picture

"The 99% believe all will be fine in the end."

As long as they obey massah, and pay no mind to violating their core principles (only one at a time, of course), bottom line is yes, they will be just fine. Submit to never stepping out of line though.

Sat, 12/22/2012 - 00:47 | Link to Comment Yen Cross
Yen Cross's picture

 That was a good post , [Sudden Debt]. Shit! I'm impressed...

Sat, 12/22/2012 - 06:50 | Link to Comment SilverRhino
SilverRhino's picture

Bartender: I'll have what this gentleman poster was having.   

Sat, 12/22/2012 - 06:54 | Link to Comment Fíréan
Fíréan's picture

and it wasn't Kool Aid !

Sat, 12/22/2012 - 07:37 | Link to Comment malikai
Sat, 12/22/2012 - 08:13 | Link to Comment Svendblaaskaeg
Svendblaaskaeg's picture

Great read - so true, goes for my country's 99% too - Thank You Sir!

 

Sun, 12/23/2012 - 22:24 | Link to Comment toncuz
toncuz's picture

If there's any group worse than the 99%...it's the PIG 1%. You remember them...the right-wing central planners who control the economy and sold all that crap to the 99 percenters you complain about in your right-wing Rush Limbaugh induced haze of a post.

Fri, 12/21/2012 - 21:28 | Link to Comment Seer
Seer's picture

I suspect that it's 1971.  That's the year the US defaulted (disconnecting the USD from gold).  Also that year that oil exports (production) peaked.

One really has to appreciate the revenues that oil can produce.  For instance, in 2011 Saudi oil revenues were $311 billion, over $10K per capita! (source: http://www.eia.gov/cabs/OPEC_Revenues/Factsheet.html).  And for Qatar the per capita revenue was over $57K!  Now, take these numbers and wipe them out, put these countries into the category of net importer of oil- think that things would be MUCH different?  I'm not thinking that that would be the formula for growth...

Sat, 12/22/2012 - 00:01 | Link to Comment schoolsout
schoolsout's picture

Second graph in this link explains what you are referring to, I believe

 

http://libertarian-neocon.blogspot.com/2012/08/the-dollar-has-been-deval...

Sat, 12/22/2012 - 06:24 | Link to Comment Tom_333
Tom_333's picture

Yes.Several others including Karl Denninger have done the same.Net-net the US hasn´t turned a profit in 30 years.And still it rolls on...

The way they roll in Washington isn´t so bad (for them).From a fundamental perspective it´s a disaster.But it goes to show that Keynesianism is a useful tool too keep corporativistic societal model rolling for a couple of more decades.As economic theory it´s hokum and snake oil.But as the master himself said - in the long run (another thirty years or so) we are all dead (and then I don´t give a f-k) or to put it in French -Aprés moi , la deluge.

Sat, 12/22/2012 - 10:42 | Link to Comment Ayn NY
Ayn NY's picture

I just spent a whole semester in a Keynsian Econ class. Chart after chart showed 1971 as being the year of huge declines. He blamed it on the oil shocks with a little nod to the end of Bretton Woods. Of course the Great Sociaty programs and the expansion of government under Nixon were never mentioned.

Fri, 12/21/2012 - 20:55 | Link to Comment Pareto
Pareto's picture

yup.  dGDP/dGOV < 0; and any asshole that says different does not understand accounting or economics.

Sat, 12/22/2012 - 08:39 | Link to Comment dwdollar
dwdollar's picture

That's been true for a long time. The problem is the absolute numbers have gotten to such a point that it's impossible for any unbiased mind to ignore them any longer.

Sat, 12/22/2012 - 06:16 | Link to Comment Tom_333
Tom_333's picture

Actually Government spending IS a part of the GDP number.The more spending the the higher the GDP number.

On the other hand I seriously doubt that the much-hyped bubble burst will happen next month or next year.These things can go on for a very long time.History shows estimates from the 30ies and 40ies regarding the inevitable pop of the German and Soviet economy by professional economists were far from accurate.Good German professional economists predicted that the cycle of nationalization,rearmament,huge deficit spending would cause a huge burst around 1941 or so.They stated - "this can not simply go on". Some of them were interviewed after the war and bitterly deplored their grave underestimation of the strength in confiscations,forced work - inside and outside work camps,genocide as businessmodel and other regimedriven GDP multipliers.My fear is that something else will pop before the economy does.And most likely that is what needs to happen in order for things to change.It´s not going to be pretty.

Sat, 12/22/2012 - 09:46 | Link to Comment wisefool
wisefool's picture

Excellent post. War provisioning can carry bad economic theories. For example, the US Economy is nearly completely dictated by the tax code, which at its core is war rationing implemented for WWII. There is no other foudation for it. Theoretical or practical.

This is why the USA spends 3 Trillion on defense, 1 Trillion on social services. This is why the most profitable coorporations are tax free. It has nothing to do with merit. (Google, G.E., MSFT,etc)

The tipping point you mentioned is when there is no longer a single theoretical tax payer who sacrifices to the "war" rationing. Not a single person operating outside the "war effort."

Envision a typical morning when we need to start the pump (printing press), but the last person forgot to fill the priming reserve before they shut it down for the day. There is infinite water in the ground. There is infinite power for the pump. The pump is in perfect repair. Once it gets running, you can have all the water/fiat you want. But that crucial priming half pint is missing. 

Sat, 12/22/2012 - 15:26 | Link to Comment Tom_333
Tom_333's picture

Missing half print of primer...?

If we were so lucky...! Running out of bullets the only cause for the Gov not hacking it one sudden morning.

Fri, 12/21/2012 - 19:14 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The people and institutions that the Fed truly represents are getting their wish, but the simmer is too high right now, and risks having them see things spin out of control, in my very humble opinion. They're going to try and get back to the slow simmer of frogs recipe that always works best in devaluing the living standards of the citizenry.

One of the things the list above doesn't mention is that federal, state and local units of government have grown in both personnel and resource consumption like a malignant cancer over the last 50 years.

As I write this, 1 out of 7.5 employed Americans works for federal, state or local government. This does not include "contractors" to government, nor millions of others who work for companies that derive all or a majority of their revenue from providing goods or services to government.

Big Gov is suffocating the private sector.

Fri, 12/21/2012 - 21:45 | Link to Comment DaveyJones
DaveyJones's picture

History tells us one thing about society's cooks and crooks. Too much faith in their recipies too little attention to the boiling pots 

Fri, 12/21/2012 - 23:10 | Link to Comment Dick Buttkiss
Dick Buttkiss's picture

Annouce yourself, -1, you society sucking leach.

Sat, 12/22/2012 - 02:05 | Link to Comment prains
prains's picture

Now I'm not the -1 leach but I would like to add that the "big GOV" is owned lock stock and barrel, they are the middle men in this malinvested transaction.

Please look to the real owners of your gov't both red and blue to cast your blame to those leveraged 60 to 1 and need the real control.

Sat, 12/22/2012 - 02:23 | Link to Comment Seer
Seer's picture

Yup.

One need only look at who was playing the music and who danced.

Sat, 12/22/2012 - 10:18 | Link to Comment ATM
ATM's picture

I think you have it all wrong. They are turning up the heat to get a rolling, or should I say roiling boil. 

The time for the slow simmer is over. They have sucked all they need to from us. Next move is the burn this fucker down, and try to create a new feudalism.

Fri, 12/21/2012 - 19:21 | Link to Comment francis_sawyer
francis_sawyer's picture

Well... Just for kicks... Here's the essential pictorial...

~~~

http://www.zerohedge.com/news/2012-12-17/charting-us-debt-and-deficit-inception

Noteworthy:

- War of 1812 (Great Britain, funded by Rothschild's controlled BOE 'paper joobux' ~ which, co-incidentally occurred upon the occasion of the expiration of the 20 year charter of the FIRST BANK OF THE UNITED STATES)

- Assasination attempt on the life of Andrew Jackson (which, by sheer co-incidence, happened upon the expiration of the charter of the SECOND BANK OF THE UNITED STATES)...

- Assasination of Abraham Lincoln on the eve of the end of the US Civil War (whereby Lincoln had intended to continue the issuance of 'greenbacks')

1913 FED CHARTER passed in the dead of night on Christmas Eve

- Lusitania (false flag) ~ fostering US involvement into WWI

- Pearl Harbor (false flag) ~ fostering US involvement in WWII

- Gulf of Tonkin (false flag) ~ fostering a decade long involvement in Vietnam (which ended in US bankruptcy & cancelling of Bretton Woods)

- 9/11 (false flag) & the ongoing 'War on Terror', which, in the end is a masquerade for a Jewish land grab in the Middle East until all nations from the Suez Canal to the Tigris/Euphrates regions can fall under US/Israeli/Zionist control...

~~~

But remember people... It is francis_sawyer that you should direct your indignation towards... It's all my fault... I was the bastard who brought this all into being... I'm clearly delusional to think that those poor wacky jews could have had anything to do with any of this...

Fri, 12/21/2012 - 19:26 | Link to Comment NotApplicable
NotApplicable's picture

Problem is, collectives are not individuals, so if you label ANY problem as the fault of a collective, you immediately discredit your own accusation, as even a child can point to an individual within the collective who is not guilty individually.

In other words, you're shooting yourself in the foot, so to speak. Remember, Mises was a Jew, as was Rothbard.

Fri, 12/21/2012 - 19:44 | Link to Comment francis_sawyer
francis_sawyer's picture

Oh sorry... 'Mises' was a jew... That wipes the slate then... Back to even... Now ~ since we're BACK TO EVEN ~ I'll have to completely re-configure my thesis... I'm thinking about starting with the 'Trekkies', 'Birders', & 'Zumba Enthusiasts'... All of them look beady eyed to me [as well as hold powerful positions in banking, MSM, & political action groups]...

Fri, 12/21/2012 - 21:29 | Link to Comment Michaelwiseguy
Michaelwiseguy's picture

Everyone knows Israel, Massad, and Zionists in our own government did 9/11.

The Insurrection intervention will be a marvelous event for the USA.

David Wilcock & Drake 2012-03-28 1-3 Mass Arrests

https://www.youtube.com/watch?v=e0BaAYt6vSQ

Sat, 12/22/2012 - 01:28 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

The "everyone knows" part alone proves you to be delusional.

Fri, 12/21/2012 - 21:30 | Link to Comment trav777
trav777's picture

what the fuck?

An individual case says NOTHING about a general one, moron.

The existence of an exception does not invalidate a general premise.

Fri, 12/21/2012 - 23:35 | Link to Comment willwork4food
willwork4food's picture

Correct in the case that leans more and more to the biblical conspiracy that "Jews" were somehow special, deciding whether to use that gift for good or evil...and a number of them have chosen evil.

 

Sat, 12/22/2012 - 03:11 | Link to Comment John_Coltrane
John_Coltrane's picture

"The existence of an exception does not invalidate a general premise."

With the exception of all scientific models, of course.  Only a single exception invalidates the entire model.  In general, all theories and/or models can only be falsified, never proven (hear that AGW climate modelers?).  This is the essence of the scientific method and its source of power.  So, you are completely wrong on this one.

QED

Fri, 12/21/2012 - 19:29 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

Francis, dont forget about JFK. Two months after he was killed, LBJ recommened that silver be released from the coinage. By 1965, well you know what happened.

Fri, 12/21/2012 - 19:39 | Link to Comment francis_sawyer
francis_sawyer's picture

Yeah man... I know all about that 'curious' part of the JFK assasination... The thing is this... As far as Kennedy is concerned... Just about EVERYBODY (it seems) wanted Kennedy dead [from the Mafia, to the CIA, to J Edgar Hoover, to the 'I can't remember his name' oil dude in Texas... I think his name began with an M]... So if you start to apply jew controlled central banking to the Kennedy assasination, dead end side streets start popping up...

I prefer to stick to the chart [which I linked], & the obvious KNOWNS surrounding those timeframes...

The trouble is: Folks don't tend to possess the scope to tie in HISTORY in such ways... Instead (on this thread), you'll read a bunch of numbnuts comments about irrelevant stats that have managed to be compiled during the Obama &/or Bush years...

The fact that there are #75 things listed on this post is a distraction... You only need to know ONE THING... & that THING is DEBT [&, of course, how it is brought into being, & what FORCES ar behind that]... 

Fri, 12/21/2012 - 20:47 | Link to Comment New World Chaos
New World Chaos's picture

You're right about debt money being the biggest reason.  I think they gave the assassination order in response to Kennedy's executive order 11110 re: silver, but he had started pissing them off in many other ways.  The question is how did he pull the tentacles out of his brain in the first place?

In his book Flashbacks, Timothy Leary talked about Mary Pinchot Meyer, wife of a high-ranking CIA official.  She was part of a leftist conspiracy to turn on the Washington power elite.  She was a hottie, so they got her close to Kennedy.   She "turned him on" all right. 

She said this to Leary:  "They couldn't control him any more. He was changing too fast...They've covered everything up. I gotta come see you. I'm afraid. Be careful."  Within a year, she was murdered.

Sat, 12/22/2012 - 04:48 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

.

 

You only need to know ONE THING... & that THING is DEBT [&, of course, how it is brought into being, & what FORCES ar behind that]... 

 

Those are *three*things*, not counting your ellipses. 

Your usage of ellipses indicate that "it" goes beyond "ONE THING".

Sat, 12/22/2012 - 08:16 | Link to Comment Disenchanted
Disenchanted's picture

 

 

francis...two other factors you neglected to mention. JFK was against Israel obtaining nuclear weaponry, and Meyer Lansky's 'Cuban interests' were impacted by the failed BoP thing.

 

Meyer Lansky was also an ardent Zionist.

 

"For we are opposed around the world by a monolithic and ruthless conspiracy that relies on covert means for expanding its sphere of influence--on infiltration instead of invasion, on subversion instead of elections, on intimidation instead of free choice, on guerrillas by night instead of armies by day. It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations.


Its preparations are concealed, not published. Its mistakes are buried not headlined. Its dissenters are silenced, not praised. No expenditure is questioned, no rumor is printed, no secret is revealed." ~ JFK


This is a portion of the speech("The President and the Press") that President John F. Kennedy gave at the Waldorf-Astoria Hotel on April 27, 1961.

 

I think that portion of JFK's speech was directed at more than one recipient...the exoteric and the esoteric.

Sat, 12/22/2012 - 09:52 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"...to the 'I can't remember his name' oil dude in Texas... I think his name began with an M]..."

Murchison, Clint Murchison.

Sat, 12/22/2012 - 12:32 | Link to Comment vast-dom
vast-dom's picture

it's true that the average jew is smarter than a homophobe racist anti-semite that gets his handle from a moronic homophobe racist anti-semite movie character. yes, that's a truism to the vitriolic false premises and delusions of grandeur in a comment section.

Sat, 12/22/2012 - 13:31 | Link to Comment akak
akak's picture

Vast-dumb, did you send out all your Christmas cards and finish your Christmas shopping yet?

Better get on it --- time's a'wastin'!

Sat, 12/22/2012 - 02:58 | Link to Comment Uber Vandal
Uber Vandal's picture

(which, by sheer co-incidence, happened upon the expiration of the charter of the SECOND BANK OF THE UNITED STATES)...

And the other coincidence people tend to miss, is how the national debt of the USA was about $35,000 at that time as well.

Andrew Jackson was exactly correct about the national debt being a"national curse."

He vowed to "pay the national debt, to prevent a monied aristocracy from growing up around our administration that must bend to its views, and ultimately destroy the liberty of our country."

Fri, 12/21/2012 - 23:45 | Link to Comment Cash2Riches
Cash2Riches's picture

It is most definitely too disgusting to believe. Sadly and gladly I do believe, like many others that visit this site. At least we know and will be prepared. Keep stacking.

 

http://jimrickards.blogspot.ca/

Sat, 12/22/2012 - 00:51 | Link to Comment Yen Cross
Yen Cross's picture

 Making an entity whole? Are you crazy?  It's all about (forbearance)...< Awesome post  T/I/S

Fri, 12/21/2012 - 18:57 | Link to Comment ZeroSpread
ZeroSpread's picture

It's just an exponential fn, nothing to worry about bro ;)

Fri, 12/21/2012 - 20:05 | Link to Comment Monedas
Monedas's picture

Where was this list before the election ?  If I knew all this I wouldn't have voted for Obama again !   I'm fuckin' witcha, bitch !

Fri, 12/21/2012 - 20:16 | Link to Comment Kinskian
Kinskian's picture

Obama's the affirmative action President, so he's held to a lower standard.

Sat, 12/22/2012 - 09:54 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"Obama's the affirmative action President, so he's held to a lower standard."

He's held to no standard!

Fixed it.

Fri, 12/21/2012 - 20:30 | Link to Comment Zap Powerz
Zap Powerz's picture

What America lacks is consequences.

We do all kinds of really stupid shit and nothing bad ever happens.....yet.

Fri, 12/21/2012 - 20:45 | Link to Comment Nikao7
Nikao7's picture

Well said Zap...well said

Fri, 12/21/2012 - 21:54 | Link to Comment DaveyJones
DaveyJones's picture

it's the arrogance of every empire and they usually implode.

Fri, 12/21/2012 - 21:41 | Link to Comment AmCockerSpaniel
AmCockerSpaniel's picture

Has it accord to anyone beside me, that if we had all those jobs we let the 1% out source over seas, we would have the tax money to fund that "62 % of the federal budget was spent on entitlements"??? Does anyone want to repeal "Free Trade" yet?

Sat, 12/22/2012 - 04:55 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

show your math and i might accord.

Fri, 12/21/2012 - 22:01 | Link to Comment WT Sherman
WT Sherman's picture

Lighten up Francis....Sgt Hulka

Sat, 12/22/2012 - 11:54 | Link to Comment CheapBastard
CheapBastard's picture

GDP = private consumption + gross investment + government spending + (exports ? imports)

 

 

https://en.wikipedia.org/wiki/Gross_domestic_product

 

Just in case.

Fri, 12/21/2012 - 18:49 | Link to Comment NJBDeflator
NJBDeflator's picture

the irony of it all is that Obama inherited Bush's housing bubble, and the guy (or gal) after Obama is going to inherit the recovery, central bank bubble that Obama signed off on.

 

 

Fri, 12/21/2012 - 18:57 | Link to Comment Translator
Translator's picture

Dear Lying Asshole,

 

 

When Obama and the Democrats took over the House and Senate in 2006, the unemployment rate was 4.7%. GDP was over 6%. Gasoline was $1.79 when Obowel became President. It sure didn't take the you lying, sniveling, socialist asshats long to fuck things up royal

Fri, 12/21/2012 - 19:23 | Link to Comment mumbo_jumbo
mumbo_jumbo's picture

translator,

you sheep can sure be a real funny bunch!!

LOL,

Fri, 12/21/2012 - 19:36 | Link to Comment falak pema
falak pema's picture

Obammy works for the Oligarchy. if u don't understand that u haven't learnt anything at ZH.

Oligarchy is NOT socialism; its the neoliberal 1%.

Fri, 12/21/2012 - 21:42 | Link to Comment AmCockerSpaniel
AmCockerSpaniel's picture

So what choice did we have? The Oligarchy owns both parties!

Sat, 12/22/2012 - 04:58 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

Ron Paul was promoted as a choice *in*every*single*thread*. Where were you?

Sat, 12/22/2012 - 11:40 | Link to Comment Orly
Orly's picture

Dr. Ron Paul was busy buying his son a Senate seat in a State in which he'd never set foot.

Fri, 12/21/2012 - 22:43 | Link to Comment Crtrvlt
Crtrvlt's picture

Fascism

Fri, 12/21/2012 - 19:45 | Link to Comment fattail
fattail's picture

George W. Bush is the lying asshole who expanded the size, scope and power of the federal government and started the eradicatation of our liberties and freedoms.  That fucking retard did his damndest to increase the leviathan that is the federal government with no child left behind, the medicare prescription drug plan, a preemptive war in iraq for WMD that were not there, amnesty for illegal mexicans, the fucking department of homeland security, the transportation security administration, and oh yeah... he fucked up the afghanistan war, and never caught osama bin laden.

Remember when he said he was going to get the evil doers " dead or alive".  Was he just incompentent or just a lying asshole, or maybe both.

Remember when that mother fucker ran the first trillion dollar deficit, and three trillion dollar budget, and bailed out wall street and the big banks with fucking tarp.

Remember when he bailed out the auto industry?

The Reason the economy was doing so well in 2005-2007 was the enourmous bubble in the housing market the fed and the bush administration were blowing.  The savings rate was approaching 0%, and everyone was leveraging up.  It's not rocket science.  Gasoline was $4 a gallon in July of 2008 but less than $2 in 2009.  Was that because of Bush's policies....  Yes, yes it was.  Hell of a job Bush.

Who is suprised that Obama was going to grow the size of gov't??? Not me.

Who is suprised he is corrupt and giving government guaranteed loans and governement contract to his cronies and campaign contributers??? Not me.

Remember when bush said everyone should own their own home. What a dipshit, spoken like a true rich brat who had everything given to him and didn't have a fucking clue about the real world.

Bush did his part to fuck up this country, and he was supposed to know better. He said he was a fiscal conservative. Remember that compassionate conservative bullshit. What a liar.

Fri, 12/21/2012 - 20:20 | Link to Comment Vendetta
Vendetta's picture

a lot of folks on ZH hate those rarely acknowledge those 'little' truths you mention as much of a scumbag obama is as betrayer-in-chief he has followed his predecessors' 'legacy' to the point of crossing the 't' s and dotting the 'i' s.

Fri, 12/21/2012 - 21:53 | Link to Comment Umh
Umh's picture

Bush didn't start that stuff. He was just blatant about it.

Sat, 12/22/2012 - 03:25 | Link to Comment John_Coltrane
John_Coltrane's picture

I believe you meant to write "Lynden Baines Johnson is the lying asshole who expanded the size, scope and power of the federal government and started the eradicatation of our liberties and freedoms.  (unless you don't think the "great society" programs and the Vietnam war which led to our collective bankrucptcy and subsequent abrogation of the gold standard wasn't a problem.)

And don't even get me started on the one worlder traitor Woodrow Wilson who allowed the creation of  FED in 1913, lied to get us into WWI, and initiated the income tax.  Bush actions, through also stupid and traitorous are inconsequention by comparision to Wilsons and are a distraction to sheep like you with no historical perspective.  There would have been no medicare to "expand" if not for the traitor LBJ. 

Sat, 12/22/2012 - 05:10 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

You think "this" started with Bush? That other guy bashes Obama?  You need to scroll back up and read 3088673

There is nothing "new" happening around you.  You took the red pill, now open your eyes.

Fri, 12/21/2012 - 21:46 | Link to Comment Seer
Seer's picture

Oh, look, another name-caller!

"GDP was over 6%"

Perpetual growth on a finite planet isn't possible.  Attempting to do so will ONLY result in mass failure.  So, one has to ask whether that "6%" is really a good thing.  Only the illiterate cannot see the exponential function at work... (and when it's running its course there's little that can done- either pull the plug or let it build into an explosive blowup; either way everything in the "modern" world screeches to a halt).

But, on the numbers, one could grab shit from during Clinton's reign and paint things real good (vs. Bush II).  Of course, this was all smoke and mirrors via Greenspan; smoke and mirrors continuing along until they pulled the plug during Bush II's reign (exact date 9/11/2001- the machine kept going by way of stored momentum, finally starting to come unglued in 2005 with the housing bust, and then seizing up in 2008 with the "financial crisis").

Fri, 12/21/2012 - 22:42 | Link to Comment Crtrvlt
Crtrvlt's picture

You obviously don't know what a bubble is. Housing peaked in June 2006 several months before the dems took control of anything and gross derivAtive exposure increased 400% from 2001-2006. Gasoline was also 1.79 because it along with every other risk asset collapsed when everything went to hell sometime between 2006-2008. On yea and gas was at an all time high in July 2008. GDP decline 4% in q32008 9% in q42008 and 7% in q12009. The economy lost 850k jobs in dec 08 and another 4 MLn in the first 6 months of 2009. Obama is far from perfect but please go ahead and lay blame for a collapse that started in 1981 and fell apart years before he became president on him.

Sat, 12/22/2012 - 05:18 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

Obama gets the blame for his communist agenda.  Obama wants the collapse to not only continue, but to be sped up, so that the communist agenda can be put forth.

Sat, 12/22/2012 - 07:07 | Link to Comment WTFx10
WTFx10's picture

"Obama gets the blame for his Bankster agenda.  Obama wants the collapse to not only continue, but to be sped up, so that the Bankster agenda can be put forth.

Fixed for you.

He's only an employee just like the last one dont give them that much credit.

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." John Dalberg Lord Acton.

Guns dont kill Banksters, Debt slaves kill Banksters

Nbcnews has  picture of gun control protesters up on the website. Where are those Cops with the PEPPER SPRAY when you really need them? They must be in a FREE SPEECH ZONE?

WTF

Sat, 12/22/2012 - 11:04 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

Whether you call them Communists or Banksters,

whether you call them Jews or Khazars,

Obama is their tool.

 

Unfortunately, any deep-down discussion of [Central Banking] involves the Jewish question. We cannot honestly discuss the subject without revealing—and commenting on—the fact that the founders of [Central Banking] were Jewish. Neither can we ignore the fact that all but a few of the top leadership of ... American [Central Banking]—...— are of the same ...

These are facts of history over which we have no control. But we are faced with the very serious problem of how to reveal these facts without being labeled—and treated—as "anti-Semites."

Paraphrased from here

Fri, 12/21/2012 - 23:38 | Link to Comment BeetleBailey
BeetleBailey's picture

Fuck off with this "Obama inherited" shit. Saying that phrase alone makes you a complete dumb fuck shit eating douchsheeple.

OCuntus and Blow Job Joe were PART OF and CAUSED the MESS you asswipe. Wake up fucker....

Fri, 12/21/2012 - 18:56 | Link to Comment ball-and-chain
ball-and-chain's picture

Yesterday I called my poor old mother.

I asked her if the sky is falling.

She said yes.

I asked her what to do.

She said that I should run to the hills.

I believe her.

I'd be crazy not to.

http://www.angrysinner.blogspot.kr/2012/12/yesterday-i-didnt-drive-jim-to-school.html

Fri, 12/21/2012 - 18:58 | Link to Comment cossack55
cossack55's picture

"wake some people up"  WTF  Most amerikans can't count to 75 (without the aid of their flat screen remote)

Fri, 12/21/2012 - 18:58 | Link to Comment Cunnial
Cunnial's picture

Jesus Christ... You lads are fucked...

Sat, 12/22/2012 - 05:22 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

Your kind are debt free?  No?

Allow me to quote yourself back to you:

Jesus Christ... You lads are fucked...

Fri, 12/21/2012 - 19:00 | Link to Comment Chupacabra-322
Chupacabra-322's picture

#76

Americans now more than ever are armed to teeth and intend to arrest, each and every single CRIMINAL, Treasonist, Tyrannical Government Official. While simultaneously restoring a Consitutional Republic.   

Fri, 12/21/2012 - 19:34 | Link to Comment Row Well Number 41
Row Well Number 41's picture

Please,  They are buying because they think they won't be able to buy them later, and Americians always want what they can't have.  If you told them, no more iPads after next month they would buy those just as fast.

#41

Fri, 12/21/2012 - 20:10 | Link to Comment JR
JR's picture

It appears Americans will not allow their freedom to be captured by gun control. Here is an interesting comparison of attitudes on gun use.

Israel Private Gun Ownership vs. United States Private Gun Ownership |The LRC Blog

Posted by David Kramer on December 21, 2012. (This post includes a picture of Israeli children on an outing accompanied by their teacher with a rifle ("assault weapon”) slung across her back, purse in hand –with the caption, “Why Israel Doesn’t Have USA-Style School Massacres: Only in America and other Socialist countries would teachers be denied the means to defend student safety. With this caveat by Kramer: [Correction to the person who created this: Israel is even more socialist than the United States.]

[Thanks to Randy Peoples]

UPDATE: My friend David Sack writes:

"In Israel, there is virtually NO private gun ownership (the exception being Jews, and not Arabs, who live in the “occupied territories”). Almost every weapon belongs to the army, police force, or private security firms licensed by the national police. What you do have (which is similar to Switzerland, I think) is anyone who is on active duty or the reserves (which is effectively the entire male population from 18 to about 50, and many women as well) are *required* to have their military issued weapons with them, or secured in their homes for easy access. In addition, schools, camps, youth tour groups, etc., are required to have “security” on premises or when going on trips. Security for these functions are provided either by private companies (which give the guards police-sanctioned guns) or by off-duty military reserve personnel who carry their army issued firearms. The upshot of all this is that while Israel is a heavily armed society, there is very little “private” ownership of firearms (hence, your socialist comment). This creates all sorts of bureaucratic hassles as well, as they are required to account for the bullets they use, which means that there is almost no target practice outside of government facilities which are specially designated for that purpose and for which bullets may be obtained. I was on a trip once with a guy who wanted to fire his newly issued M-16 (fully automatic) but refused to fire it on automatic mode and only took a couple of shots (and only let me take a couple of shots) because he had to account for the bullets, and didn’t want to waste them by taking target practice outside of a government facility."

http://www.lewrockwell.com/blog/lewrw/archives/129207.html

Fri, 12/21/2012 - 20:25 | Link to Comment knowless
knowless's picture

Nother mass killing in Pennsylvania today, i think 7 down including gunman, 2
State troopers

Sat, 12/22/2012 - 05:23 | Link to Comment JR
JR's picture

And already the state-connected media is using this latest tragedy to further the State’s agenda, such as this conclusion by Slate:

“Nonetheless, the deaths are the latest in a surprising total of gun-related fatalities in the week since last Friday's tragedy in Newtown and no doubt will make it that much more difficult for the NRA to shrink the larger debate about guns that is currently going on inside the Beltway and outside.”

Pat Buchanan wrote on December 18:

If assault rifles are evil things that ought not be in the hands of decent Americans, why do “shoot-to-kill” video games feature these weapons?

Why does Hollywood glamorize assault rifles in action-packed films of slaughter starring Bruce Willis, Sylvester Stallone, Arnold Schwarzenegger, Chuck Norris and Jason Statham?

Few of America’s young have seen an assault weapon fired outside the military. Scores of millions have seen them fired on TV. Many of our movies are advertisements for the efficiency of assault weapons in the hands of good guys doing heroic deeds.

Are the folks who think America would be a better place with a more restrictive Second Amendment willing to restrict the First Amendment to stop all distribution of movies and cable shows that depict famous actors blasting enemies with assault weapons?

Not long ago, there existed in our hearts “a fear of God.” …

But if God is dead, not to worry. Just put the gun to your head and pull the trigger, and it’s over. No trial. No disgrace. No prison. Nothing to worry about anymore.

No voice of conscience told Adam: Do not do this evil thing! Now he is no longer a nobody, a nerd, a recluse. He is famous. Everybody is talking about him, and ruminating on what might have motivated him.

Adam wanted to be somebody. And now he is.

And out there others like him are thinking: That could be me.

http://www.humanevents.com/2012/12/18/pat-buchanan-the-dead-soul-of-adam-lanza/

Sat, 12/22/2012 - 02:56 | Link to Comment Yen Cross
Yen Cross's picture

JR. I hope you get this before the Sunday open. Yer probably busy with Sue Ellen and the kids.

 The sar 4hour line on aud/usd is stretched like an O-Ring on a NASA shuttle booster/ If you want a free 50 pips, the 38.2% retrace comes in around 1.0457.

  Be well, and Merry Christmas.

Sat, 12/22/2012 - 05:02 | Link to Comment JR
JR's picture

Thanks, Yen. And once again, as another year passes in the enjoyment of your good company and insight, a Merry Christmas!

Fri, 12/21/2012 - 21:16 | Link to Comment EscapingProgress
EscapingProgress's picture

That's a nice fantasy, but it won't happen. Americans are far too cowardly. If Americans were going to collectively do anything it would have happened before the gov't acquired remote control drones with guided bombs, militarized the police, and made it legal to indefinitely detain anyone without trial or charge.

That gov't gravy just tastes too darn good, and empty gov't promises sound so lovely!

Fri, 12/21/2012 - 19:01 | Link to Comment Lendo
Lendo's picture

Astounding

Fri, 12/21/2012 - 19:06 | Link to Comment Wanton1
Wanton1's picture

ADL lobbyist, Herman Edelsberg, to Norman Dodd quote:

 

"We will excercise our power and it will destroy us, but it will destroy everything else in the process."

Fri, 12/21/2012 - 19:06 | Link to Comment mr_bad
mr_bad's picture

Well, when you put it like that, the American culture sounds incredibly shitty...

Fri, 12/21/2012 - 19:06 | Link to Comment Peter Pan
Peter Pan's picture

Why only 75 amazing facts? There is virtually no aspect of US society and its economy that is not mind boggling. How about student debt, demographic lethargy, prison populations, gun sales, foreign entanglements, working hand in hand with Al Quaeda, Ben's printing atrocities, etc etc etc.

The only things that are surprisingly low are penalties on banks and jailings of crooked bankers.

Fri, 12/21/2012 - 19:32 | Link to Comment Iconoclast
Iconoclast's picture

Sure, agree with all of that, I wonder how much student debt has risen in real and inflation terms for each student over the past 20/30 years? What are the figures for entry level salaries after graduation? In the UK it's approx 23k but it was 17k about 25 years back and life is sure more expensive than six grand a year, what's the youth unemployment rate in the USA atm?

Sat, 12/22/2012 - 06:06 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

The rate of un-/underemployed graduates in the USSA is 53.6%.

 

Fri, 12/21/2012 - 21:02 | Link to Comment Clowns on Acid
Clowns on Acid's picture

Peter Pan - It's called negative correlation of > 90%. Try arguing that logically (even using math) with the left wing facsists. It has to come to a head....and it will. 

Fri, 12/21/2012 - 19:14 | Link to Comment knukles
knukles's picture

Whew!
I'm relieved that it ain't so bad, after all.....

(snarc)

Fri, 12/21/2012 - 19:15 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

Great list but did not see any mention of the endless wars/military spending.

 

Just remember, 12 yr long wars are by design not accident

 

Happy Holidays to all and THANKS to ZH for all you do!!

Fri, 12/21/2012 - 19:25 | Link to Comment syntaxterror
syntaxterror's picture

It's been endless wars for the last FIFTY years. Korea. Vietnam. Central America. War on Drugs. War on Common Sense. War on Science. Iraq I. Iraq II. Kosovo. Libya. I can keep going on and it will never end.

Fri, 12/21/2012 - 21:13 | Link to Comment toady
toady's picture

Don't forget the war on Christmas!

#49 - 18 trillion in the Cayman Islands

#73 - 16.9 trillion deficit

I know where the next war should be!

Sat, 12/22/2012 - 09:56 | Link to Comment flattrader
flattrader's picture

Did Faux News ever say who won the "War on Christmas"?  Is it still on-going?

Fri, 12/21/2012 - 23:22 | Link to Comment optimator
optimator's picture

Add the "War on Poverty", courtesy of LBJ, to your list.

Sat, 12/22/2012 - 00:03 | Link to Comment toady
toady's picture

I thought that one was the 'war on the poor'...

Fri, 12/21/2012 - 19:18 | Link to Comment Row Well Number 41
Row Well Number 41's picture

It's like having to be tied to, and help haul, a fat man up a snow covered mountian, in avalanch conditions, during a blizzard.  When he slips, and he will, we all go down with him... unless you cut the rope.

#41

Fri, 12/21/2012 - 19:31 | Link to Comment Yes We Can. But...
Yes We Can. But Lets Not.'s picture

You'll be arrested and imprisoned for cutting the rope.

Fri, 12/21/2012 - 19:22 | Link to Comment Hangfire
Hangfire's picture

Since Obama's "Mission Accomplished" moment in May 2011 there have been over 600 US military personnel killed in Afghanistan.  

Fri, 12/21/2012 - 19:27 | Link to Comment falak pema
falak pema's picture

ON PRIVATE BANKING DERIVATIVE EXPOSURE

One argument is recurrent here on ZH and often presented in a contradictory light : the exposure of the 4 TBTF major US banks to derivative bubble; estimated here at over 40 TRillion each for all of them. 

All the while we hear that US banks are the MOST capitalised and least exposed to domino effects UNLIKE EURO ZONE BANKS.

These two statements are diametrically contradictory. And our ZH editors have skated over this by having their contributors post one thing and its opposite on a recurrent basis. 

The finger pointing to Euro bank undercapitalisation is chronic; aka french banks as stated in the Kyle Bass presentation, and he like the other contributors say "OUR US banks are better protected". 

It is also often mentioned that derivative exposure of EUro zone banks is much lower than UK and US banks. I don't know if this is true. 

So either as this article says the derivative bubble IS a major risk in Anglo banking and of greater systemic dimension than Euro banking undercapitalisation or its the contrary. Which is It?

Nobody denies that Euro banking exposure is 4 times GDP, and undercapitalisation makes domino effect very likely. 33 trillion banking domino is bigger than 9 trillion collective GDP, even if the bad HF bank ECB keeps printing it is not capitalised either with  good collateral. 

But a 120 trillion + derivative bubble risk in USA for the 4 major banks puts it in another league altogether. 

 

Fri, 12/21/2012 - 20:43 | Link to Comment Pareto
Pareto's picture

I agree.  Plus it depends on the composition of that derivative exposure.  Naked v. covered shorts and longs.  Invloved in, v. "exposed to" mean different things, IMO.  I mean if 120M were really exposed or unsecured debt instruments (swaps), I don't think you can hide that risk from the market.  Maybe you can.  But, if 120M doesn't cause concern from the market's perspective, then I'm thinking no amount ever would.

 

 

Fri, 12/21/2012 - 19:26 | Link to Comment Hangfire
Hangfire's picture

#73 Might as well be $16.4 trillion, at least it will be within the next 24 hours.   

Fri, 12/21/2012 - 19:27 | Link to Comment Iconoclast
Iconoclast's picture

How have gun sales increased since 2000 in percentage terms? Similarly what links are there between the economic failure and the increase in the prison population?

Fri, 12/21/2012 - 19:42 | Link to Comment Gamma735
Gamma735's picture

Private prisons is a growth opportunity.

Fri, 12/21/2012 - 19:34 | Link to Comment gould's fisker
gould&#039;s fisker's picture

God forbid data like this was aired during an election year except on a renegade website like ZH--it might even cause a few to wonder whether some democratic type activity might be taking place.  But there's nothing to worry about on that account in our present day cabbage patch kid nation, move along and oogle your gizmo pretending to live a quasi relevant existence.

 

 

Fri, 12/21/2012 - 19:34 | Link to Comment Gamma735
Gamma735's picture

I foresee a new growth opportunity, opening a bunch of franchise crematoriums.  All these baby boomers will be dying in the coming years and they will not be able to afford traditional funerals and caskets. 

Fri, 12/21/2012 - 19:45 | Link to Comment Hangfire
Hangfire's picture

You definitely have a point there, but if you live in California like I do that would be a definite clean air violation.  As it is I'm sure all the crematoriums out here are all Grand fathered in.   

Fri, 12/21/2012 - 20:06 | Link to Comment ShrNfr
ShrNfr's picture

Mercury emissions and all. Not sure that they are. They will probably have to put in stack scrubbers and buy carbon credits.

Fri, 12/21/2012 - 19:47 | Link to Comment ShrNfr
ShrNfr's picture

Price out a grave site sometime and get back to me. You will want to scatter the ashes except that will be banned by the EPA somehow.

Fri, 12/21/2012 - 20:38 | Link to Comment razorthin
razorthin's picture

You just gave me an idea for my junk silver.

Fri, 12/21/2012 - 20:17 | Link to Comment New World Chaos
New World Chaos's picture

Your big bucks will come from subcontracting to FEMA.  Hope you hid your ZH identity well or you may end up in your own oven.

Fri, 12/21/2012 - 20:29 | Link to Comment Vendetta
Vendetta's picture

perhaps, but how do you know they won't be used to create soylent green to feed their jobless children and grandchilfdren?

Fri, 12/21/2012 - 19:41 | Link to Comment Yes We Can. But...
Yes We Can. But Lets Not.'s picture

When things are in a more advanced state of collapse when Obooba is finally ushered out of town to build that library on the Rezko tract, he may want to borrower from Hillary's playbook and develop a concussion (you know, knock a 2-iron off a big oak straight back at your noggin) to shirk that feeling of responsibility.  Yeah, 'the bucks stops here, blah blah blah', but what if you can't remember anything?

Fri, 12/21/2012 - 19:48 | Link to Comment Pooper Popper
Pooper Popper's picture

Ill dig a hole ,you print some money,       Benny!

.

Ill dig a hole,you print some money ,      Benny!

.

 

Fri, 12/21/2012 - 19:50 | Link to Comment xamax
xamax's picture

But Stocks go up, thats all that counts. I expect S&P's to have a nice year end rally and push to 1480.

Merry Christmas !

Fri, 12/21/2012 - 19:55 | Link to Comment Rathmullan
Rathmullan's picture

So what? Europe's fixed and debt doesn't matter as it just gets defaulted on leaving equities as the only game in town.

--Chuck E (cheese) Shumer

Fri, 12/21/2012 - 19:55 | Link to Comment dark pools of soros
dark pools of soros's picture

The amount of chosen people affected by any of this: 0

Fri, 12/21/2012 - 20:14 | Link to Comment Monedas
Monedas's picture

"The real problem is all the scumbags we share the planet with .... let's nuke 'em and start all over from the beginning one more time again !" .... Monedas    1929

Fri, 12/21/2012 - 20:13 | Link to Comment ugmug
ugmug's picture

Entitlement and debt junkies don't need no stinkin' numbers.

Where's Humphrey Bogart when you really need him?

Fri, 12/21/2012 - 20:15 | Link to Comment Monedas
Monedas's picture

This is the Friday humour eschew the rag thread .... isn't it ?

Do NOT follow this link or you will be banned from the site!