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10 Examples Of The Clueless Denial About The 'Real' Economy

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Submitted by Michael Snyder of The Economic Collapse blog,

Denial Is Not Just A River In Egypt: 10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy

They didn't see it coming last time either.  Back in 2007, President Bush, Federal Reserve Chairman Ben Bernanke and just about every prominent voice in the financial world were all predicting that we would experience tremendous economic prosperity well into the future.  In fact, as late as January 2008 Bernanke boldly declared that "the Federal Reserve is not currently forecasting a recession."  At the time, only the "doom and gloomers" were warning that everything was about to fall apart.  And of course we all know what happened.  But just a few short years later, history seems to be repeating itself.

Barack Obama, Federal Reserve Chairman Ben Bernanke and almost every prominent voice in the financial world are all promising that the U.S. "economic recovery" is going to continue even though Europe is coming apart like a 20 dollar suit.  But the economic fundamentals tell a different story.  Our national debt is more than $6,000,000,000,000 larger than it was back in 2008, the number of Americans on food stamps just hit another brand new all-time record, and the bankers up on Wall Street are selling gigantic mountains of the exact same kind of toxic derivatives that caused so much trouble the last time around.

But all of our "leaders" swear that everything is going to be okay.  You can believe them if you want, but denial is not just a river in Egypt, and another crash is inevitably coming.

Sadly, many Americans are not even going to see the crash coming because they still have faith in the "experts".  They haven't figured out that the "experts" really do not know what they are doing.

The blind are leading the blind, and in the end the results are going to be absolutely tragic.

The following are 10 hilarious examples of how clueless our leaders are about the economy...

#1 When I first came across the following chart the other day, it made me chuckle.  It is a chart that supposedly tells us the "probability" of a recession, and it was taken from the website of the Federal Reserve Bank of St. Louis.  According to the chart, right now there is a 0.16% chance of a recession...

Smoothed U.S. Recession Probabilities

#2 Federal Reserve Chairman Ben Bernanke has also been proclaiming his belief that the U.S. economy will continue to grow.  The following is an excerpt from his recent remarks to Congress...

The pause in real GDP growth last quarter does not appear to reflect a stalling-out of the recovery. Rather, economic activity was temporarily restrained by weather-related disruptions and by transitory declines in a few volatile categories of spending, even as demand by U.S. households and businesses continued to expand. Available information suggests that economic growth has picked up again this year.

And Bernanke also insists that the labor market is "improving"...

Consistent with the moderate pace of economic growth, conditions in the labor market have been improving gradually.

Of course the labor market is not actually improving.  I showed this using the Fed's own numbers the other day.

And you can put stock in Bernanke's forecasting ability if you like, but considering his track record of failure in the past, that might not be too wise.  Just check out what he was saying before the last financial crisis: "30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cry".

#3 Although Bernanke has such a nightmarish track record of failure, Warren Buffett still has faith in him.  In fact, Buffett loves all of the money printing that Bernanke has been doing...

The U.S. economy might be “dead in the water” without the stimulus provided by the Federal Reserve under Chairman Ben Bernanke, according to Warren Buffett, CEO of Berkshire Hathaway.

“I think very cheap money makes things happen, it makes asset values higher. When asset values are higher, people do have a greater propensity to spend,” Buffett told CNBC.

“I think Bernanke has sort of carried the load himself during this period.”

If Buffett thinks the wild money printing that the Fed has been doing is so wonderful, then he probably would have absolutely loved living in the Weimar Republic.

#4 Barack Obama continues to insist that we do not have a debt crisis, but that we will not be able to balance the budget any time in the foreseeable future either.

Even though the national debt has grown by more than 6 trillion dollars under his leadership and our debt to GDP ratio is now well over 100%, Obama does not believe that it is a significant problem...

"We don’t have an immediate crisis in terms of debt"

And Obama certainly does not plan to even come close to balancing the budget during his second term.  In fact, he openly admits that we won't see a balanced budget at any point within the next decade...

"We're not gonna balance the budget in 10 years"

Sadly, the truth is that the U.S. will never have a balanced budget ever again under our current system, but most of our politicians are not willing to go that far and admit that sad fact to the American people just yet.

#5 But of course it would certainly help if the U.S. government would stop wasting so much money.  For example, did you know that the federal government is helping dead people get free cell phones?  The following is from a recent article in the New York Post...

Dead people don’t need cell phones.

That’s the message Rep. Tim Griffin of Arkansas wants to send Congress, after he says a controversial government-backed program that helps provide phones to low-income Americans ended up sending mobiles to the dead relatives of his constituents. Griffin has introduced a bill that targets the phone hand-out program, which has ballooned into a fiscal headache for the government.

And of course a lot of living people are abusing the free cell phone program as well.  Rep. Griffin says that he has heard of some people getting as many as 10 free cell phones from the government...

"I’ve also gotten calls from people who say their employees were bragging about having 10 phones."

#6 Meanwhile, the most prominent economic journalist in the United States, Paul Krugman of the New York Times, continues to insist that it is a good thing for the government to be running up so much debt...

First of all... that trillion-dollar deficit is overwhelmingly the result of a depressed economy. And when the economy's depressed it's good to run a deficit. You don't want the government to try and balance its budget right now.

Krugman is also operating under the delusion that the federal government "can't run out of cash", that it can just print money whenever it wants and that printing giant piles of money would not hurt anything.

The United States is a country that has its own currency--can’t run out of cash because we print the money. If you even try to think what would happen--suppose that investors get down on the United States. Even so, that would weaken the dollar, not send interest rates soaring, and that would be good. That would help our exports

It is frightening that the top economic journalist in America has such little understanding of how our system actually works.  I would encourage Krugman to read a couple of my previous articles so that he won't be so ignorant in the future...

-"Where Does Money Come From? The Giant Federal Reserve Scam That Most Americans Do Not Understand"

-"10 Things That Every American Should Know About The Federal Reserve"

#7 Many Americans have wondered why the federal government never seems to go after the big Wall Street banks.  Well, now we know why.  The other day, the Attorney General of the United States admitted that the federal government is very hesitant to prosecute anyone from the big banks because of what it might do to the global economy...

"I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy"

So I guess we now live in a world where there is a different set of rules for the big banks, eh?

Most of us already knew that this was the case, but it is quite chilling to hear the Attorney General of the United States publicly admit this.

#8 Many of the big Wall Street banks are absolutely giddy that the Dow keeps setting new all-time highs, and many of them are projecting wonderful things ahead for the U.S. economy.  For example, here is one forecast from Morgan Stanley's Vincent Reinhart ...

"In the Morgan Stanley forecast for the US, the trajectory of economic activity marks an inflection point midway through 2013. The severe financial crisis of 2008-09 necessitated significant downward adjustments by the private sector to the levels of aggregate demand and efficient supply. As the event recedes further into history, however, the drag on growth from these ongoing level adjustments plays out.

In our forecast, the expansion of real GDP steps up to around 2-3/4 percent in the second half of this year and beyond."

#9 Vice-President Joe Biden is pushing economic optimism to ridiculous levels.  Apparently he believes that most Americans are "no longer worried" that a major economic crisis is coming...

But all kidding aside, I think the American people have moved -- Democrats, Republicans, independents.  They know that the possibilities for this country are immense.  They're no longer traumatized by what was a traumatizing event, the great collapse in 2008.  They're no longer worried, I think, about our economy being overwhelmed either by Europe writ large, the EU, or China somehow swallowing up every bit of innovation that exists in the world.  They're no longer, I think, worried about our economy being overwhelmed beyond our shores.

And I don't think they're any more -- there’s no -- there’s very little doubt in any circles out there about America’s ability to be in position to lead the world in the 21st century, not only in terms of our foreign policy, our incredible defense establishment, but economically.

#10 Right now, many in the financial world are projecting that this will be a year to remember for the stock market.  During a recent interview with Fox Business, Wharton School of Business Finance Professor Jeremy Siegel declared that the Dow will cross the 16,000 mark by the end of this year...

"I think by the end of this year, we’ll be in the 16,000 to 17,000 range."

Of course it is true that other analysts have a much different view of things.  Many of them are absolutely amazed that the U.S. economy has become so disconnected from economic reality.  For example, just check out what Steve Russell and Hamish Baillie, fund managers at the Ruffer Investment Company, recently had to say...

"If this was explained to a recently arrived Martian he would no doubt be puzzled – US unemployment has almost doubled since 2007, GDP [gross domestic product] growth is a third lower and debt as a percentage of GDP is within a whisker of doubling. The market is forward looking but this is extreme"

So who is right and who is wrong?

Time will tell.

Fortunately, it appears that the American people are getting fed up with the constant stream of lies that they have been told.

According to a new Pew Research survey, just 26 percent of all Americans trust the government to do the right thing.

So what about you?

Do you trust what the government and the "experts" are telling you?

Do you trust them to do the right thing?

Feel free to post a comment with your thoughts below...

LOLCat - Photo by Koruko

 
 


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Thu, 03/14/2013 - 14:48 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

Write your congressman/woman and US Senators...

There can be no (zero) compromise on our Second Amendment rights.  I understand the Senate Committee has approved an assault weapons ban and that it is on its way to the floor of the Senate.  The expansion of the Federal Government since 9-11 is unconscionable and must be reversed.  It is becoming clear to the American people that both parties are bent on continual increase of the central state.  This is not how or what our country was founded on. 

 

I have recently reviewed the CBO budget outlook for 2013.  I am amazed to see that in the baseline budget projection that they anticipate our Federal Government will DOUBLE in size over the next ten years!!!  This is entirely UNACCEPTABLE!  You need to be doing the exact opposite.  Washington DC has grown so large, corrupt, and over reaching that it is absolutely destroying both our economy and our civil liberties.  We have out of control agencies (read EPA, DOJ, DOA, DOE, DOT, et al) that regulate every aspect of our lives.  These unelected bureaucrats need to be reined in at every level, regulatory burden reduced, and the majority of these functions need to be returned to the states.  There is way too much duplication at the federal and state levels and Washington DC does not need to be telling the residents of the various states telling them what is good for them.  This reduction of regulatory burden along with a complete simplification and over haul of the tax code is the only way back to prosperity and freedom.

 

I urge you to return the Federal Government to its Constitutional Principles.  I understand this is no easy task, nothing worth anything ever is.  The path Washington is currently on will ultimately lead to our destruction.

Thu, 03/14/2013 - 14:59 | Link to Comment Hohum
Hohum's picture

SmallerGovNow2,

In case you cannot read or lack research skills....

"A WELL REGULATED militia, being necessary to the security of a free state, the right to bear arms shall not be infringed."

Seems like banning assault weapons might be constitutional, at least according to the plain language of the Second Amendment.

Thu, 03/14/2013 - 15:07 | Link to Comment Ruffcut
Ruffcut's picture

Denialism lives. Ponzism dies and all that cash that goes with it. Bare your arms to fight for what's left over and there ain't going to be much.

Hunger will supercede freedom and liberty.

Thu, 03/14/2013 - 15:23 | Link to Comment James_Cole
James_Cole's picture

This 2nd amendment bullshit NEVER ENDS... decade after decade the same fucking circular arguments. 

Anyone on the sidelines starting to suspect that maybe it's an issue TO DISTRACT YOU MORONS rather than a legitimate debate??? 

Other issues used to distract brain dead Americans: religious freedom, abortion, marriage equality... 

Thu, 03/14/2013 - 15:59 | Link to Comment mr. mirbach
mr. mirbach's picture

Even if it is a distraction, Americans are losing unalienable rights at an accelerated pace.

The US Constitution was a contract that RESTRICTED powers and authorities of the government but that fact seems forgotten, just like the lost Preamble to the Bill of Rights which states:

"The Conventions of a number of the States, having at the time of their adopting the Constitution, expressed a desire, in order to prevent misconstruction or abuse of its powers, that further declaratory and restrictive clauses should be added: And as extending the ground of public confidence in the Government, will best ensure the beneficent ends of its institution."

What this means is that the Constitution contract says that .gov has no authority to pass laws infringing on Natural Rights, which existed long before even the first government was ever established.

Thu, 03/14/2013 - 16:11 | Link to Comment James_Cole
James_Cole's picture

 

Even if it is a distraction, Americans are losing unalienable rights at an accelerated pace.

Not just accelerated but shocking. On a frequent basis tyrannical decisions are arrived at by the executive, judicial and supreme court which are very lightly discussed by the common news outlets. 

Some of the lack of coverage is probably because it's 'impolite' to discuss all the bad things .gov is up to behind the scenes. But the other half of it is why discuss anything of importance when you can have a completely idiotic debate on >insert wedge issue here<

What this means is that the Constitution contract says that .gov has no authority to pass laws infringing on Natural Rights, which exisisted long before even the first government was ever established.

By 'natural rights' I take it you mean the magna carta on which the US constitution was largely modelled? Because outside of such documents there are no 'natural' rights. 

And on the other 'topic' - the gun debate is probably the best wedge issue because it's so easy. On one side you have someone who is 'pro' gun ownership because of the 2nd amendment, best defence against xyz etc. and you have someone who is 'anti' gun because people with guns kill other people etc. Any idiot can easily understand the debate. 

So, basically two extremely simplistic yet emotionally charged positions with neither side being able to compromise go at it. And the debate is so basic that you get easily digestible sound-bites that fit well between commercial breaks. 

Anyway, rest easy simpletons because regardless of which 'side' of the issue you are on you're well represented in congress ensuring nothing of substance will come to either side. 

So why the fuck play into this?? This article isn't about the 2nd amendment, people discussing it ought to try and use their gray matter for something other than regurgitating moronic arguments that get endless airplay on most other news websites. Go to fucking Huffington post or something and you won't even have to hijack threads to 'get the word out' on the 2nd amendment. 

 

Thu, 03/14/2013 - 16:29 | Link to Comment hapless
hapless's picture

Squirrel!

Thu, 03/14/2013 - 20:08 | Link to Comment Hacked Economy
Hacked Economy's picture

"...By 'natural rights' I take it you mean the magna carta on which the US constitution was largely modelled? Because outside of such documents there are no 'natural' rights..."

Yes and no.  It's true that the Founding Fathers drew heavily from the Magna Carta of 1215 when determining the structure of the Declaration of Independence, but note the words they ultimately used, verbatim:

"...We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain inalienable rights, that among these are life, liberty, and the pursuit of happiness [property]..."

Very close to the timeframe of our own birth as a nation, France was also undergoing their own revolution.  A huge difference between our two countries' foundings was the difference in credit given to where the people's rights come from.  In France, they attributed rights to men (i.e., government), and the fault with that is that if government can bestow a 'right', then it can withdraw it as well.  In fact, when France signed its first Constitution in 1791, it lasted only two years before it was re-written.  Not amended with additional protections for the people, but re-written because it was vastly flawed to begin with.  France re-wrote their Constitution so many times that they began labeling them with "of the Year" and added Roman numerals for identification:
 
 
Revolutionary Era:
     Constitution of 1791
     Constitution of 1793
     Constitution of the Year III (1795)
     Constitution of the Year VIII (1799)
     Constitution of the Year X (1802)
     Constitution of the Year XII (1804)

Restoration of the Monarchy:
     Constitutional Charter of 1814
     Constitutional Charter of 1830

19th Century:
     Constitution of 1848 - established the French Second Republic
     Constitution of 1852 - established the French Second Empire
     Constitutional Laws of 1875 - established the French Third Republic

20th Century:
     Constitutional Law of 1940 - Vichy France
     Constitutional Law of 1945 - Provisional Government of the French Republic
     Constitution of 1946 - established the French Fourth Republic
 
 
France has not held together very well.

America, on the other hand, clearly attributed our 'natural' rights as coming from our Creator - God.  Whether or not you personally believe in God, the concept that our rights come from a source higher than men (government) is what set our country apart from others.  Even if the Constitution were to be abandoned entirely in favor of a new document, the concept of natural rights is paramount to a strong and successful nation, and the only way true liberty can endure.  Our liberties are being eroded in recent years because we've elected dangerous people into office who are acting under the belief that they can withdraw certain rights that inconvenience their goals.  We must resist.

The only rights we keep are the ones we are willing to fight for.

Thu, 03/14/2013 - 20:59 | Link to Comment James_Cole
James_Cole's picture

Actually you have it backwards, the US constitution is a famously secular document - rare at the time. 

The constitution & declaration of indepndence are not the same thing last I checked. And also, the consitution has had many amendments. 

And also to clarify, I was saying the US constitution was based on the magna carta. 

Thu, 03/14/2013 - 21:12 | Link to Comment knukles
knukles's picture

Natural Laws are those deemed to have been blessed upon man by God.  That which men interpret to be placed in documentation are that which they claim to be God Given Natural Rights.
And betcha those right will vary amongst men predicated upon their differing views as to a Higher Power.

"Denial is not a river in Africa"
Somebody's been to one of them meetings and dealt with this stuff already... kudos....

Thu, 03/14/2013 - 23:54 | Link to Comment Hacked Economy
Hacked Economy's picture

@James_Cole,

The Constitution is very much undergirded by a direct faith in God, and is not - and was never - a secular document.  That is a falsehood which has been foisted on the public over the past few decades by secularists.  Do not succumb to it without looking into the facts for yourself.

A full response would take a LONG letter, so for brevity's sake I'll keep it to a few points.

Any incorporated entity (stemming from the Latin word "corpus", or to "embody" from intangible ideas to a structured entity) must first present a few required documents.  An S-corp, C-corp, or LLC would have a "mission" statement and a set of "articles".  The former declares the intention, and the latter shows the structure.  The Declaration of Independence and the Articles of Confederation - later to evolve into the improved Constitution - are two inseparable documents that are legally entwined together, and cannot exist without the other.

That being said...the Declaration makes four clear references to God, two in the opening sentences and two in the closing:
 
1.  "...the laws of Nature and of Nature's God..."
2.  "...they [men] are endowed by their Creator with certain inalienable rights..."
3.  "We, the representatives of the United States of America...appealing to the Supreme Judge of the world for the rectitude of our intentions..."
4.  "...and for the support of this declaration, with a firm reliance of the protection of Divine Providence..."
 
 
As for the Constitution, note that on June 28, 1787, at the Constitutional Convention in Pennsylvania, after weeks of heavy arguing amongst the delegates (including disagreement between the Virginia Plan and the New Jersey Plan), Benjamin Franklin gave his famous "God governs in the affairs of men" speech in which he specifically called upon the delegates to return to their reliance upon God for guidance.  He concluded his speech requesting that "daily prayers be held in this Assembly every morning before we proceed to business, and that one or more of the Clergy of this City be requested to officiate in that service".  The motion was seconded and passed, and for the next two and a half months they held daily prayer as they smoothed out the structure of the Constitution.

If you search (Google) the National Archives, you'll find that the draft they were working on at that time said in Article 1, Section 7, Clause 2 (how a bill is passed) that if the President did not sign a bill within 7 days of it being submitted by Congress, it would pass by default.  After Franklin's reminder to seek guidance from God for wisdom, they changed it to 10 days and inserted the note that Sundays were excepted (out of respect for the customary norm that Sundays were set aside for church attendance).  Furthermore, they added the text "...in the year of our Lord..." which was not there before.  If you search major government documents of the day (both American and European) you'll find that most did NOT contain those words (Y.O.O.L.), so it was NOT the norm.

Respectfully, sir, you have the facts backwards, but most people who are not versed in the those documents also do.  I strongly encourage you to study them yourself.  It's an amazing eye-opener.  :)

Thu, 03/14/2013 - 17:18 | Link to Comment negative rates
negative rates's picture

But you are so wrong. The Jay laws of @1796 provided you could only change a law by breaking it first, and then proving it wrong. The laws of nature do not apply when arrogance, greed, and hypocrisy can control the system of their study of law. Soon as you introduce anything not concurrent with their like minded cohorts, you have a majority of resistance which is mostly blissful thinking but just as effective to thier end goals. I proved um wrong in 08, and they are still in denial and further in trouble than at any time in the past. This is starting to get good.

Thu, 03/14/2013 - 15:11 | Link to Comment NotApplicable
NotApplicable's picture

You act like words on paper matters.

Well, if so, you ought to understand how militias are properly regulated.

Thu, 03/14/2013 - 15:49 | Link to Comment Gift Whores
Gift Whores's picture

Whaaa??? How about properly regulated fiat? /sarc

Thu, 03/14/2013 - 16:57 | Link to Comment max2205
max2205's picture

Unlike most I just want the market to get more volatile.  The last 6 months are just silly

Thu, 03/14/2013 - 15:12 | Link to Comment Mad Max
Mad Max's picture

The person who cannot read and/or lacks research skills is you.

The link below is to a 2004 opinion by the UNITED STATES DEPARTMENT OF JUSTICE discussing Amendment 2 in detail and concluding that it refers specifically to a right of individuals.

http://www.justice.gov/olc/secondamendment2.pdf

Thu, 03/14/2013 - 15:16 | Link to Comment RSBriggs
RSBriggs's picture

Too bad that isn't an accurate quote.   It reads, "the right to KEEP and bear arms".  The word KEEP has been well defined by jurisprudence, as has the definition of "arms".  Attempting to ban "assault weapons" is directly contrary to the meaning of the second amendment.

Thu, 03/14/2013 - 15:32 | Link to Comment ebworthen
ebworthen's picture

"the right of THE PEOPLE to keep and bear arms", as in "We The People".

Thu, 03/14/2013 - 16:09 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

... except ... you are *NOT* THE PEOPLE.  You are "Citizens".

 

^To fully grasp the meaning of the above, you MUST understand “[t]he United States government is a FOREIGN CORPORATION with respect to a state” (19 Corpus Juris Secundum § 883). To put it simply, the United States is FOREIGN to American (State) nationals and the State republics. When an American national contracts with the FOREIGN corporation United Sates, the Commerce Clause and the Contract Clause apply and then you are considered a “subject”. [SoL]

 

In other words, the Constitution does not apply to you!

So you can stop quoting the 2nd and start memorizing the 14th.

Thu, 03/14/2013 - 16:27 | Link to Comment Mad Max
Mad Max's picture

Uh, rrrrrright.

Thu, 03/14/2013 - 16:35 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

 

 

  • Are you one of the People of the United States, as contemplated by the U.S. Constitution Preamble?

 

  • Or, are you one of the citizens of the United States, as defined in the U.S. Constitution 14th Amendment?

 

Amendments not available to U.S. Citizens:

2: Right to keep and bear arms

... read more

 

Thu, 03/14/2013 - 17:05 | Link to Comment WTFx10
WTFx10's picture

Ratified in 1868.

So its null and void. See how easy it is to change shit? They do it to us all the time because its for our own good or so they tell us so the new  "we the people" government can too.

Why should you obey the law when they don't? Good slave aren't you?

 

Fri, 03/15/2013 - 05:24 | Link to Comment Anasteus
Anasteus's picture

Wrong. Every human being is a person, therefore, every US citizen is a person. And since 'people' is a form of plural of 'person' every US citizen is one of The People. Therefore Amendments are available to US citizens.

Thu, 03/14/2013 - 15:16 | Link to Comment WTFx10
WTFx10's picture

Since when does FREE STATE mean federal government? Asswipe.

Thu, 03/14/2013 - 15:21 | Link to Comment sodbuster
sodbuster's picture

A militia (pron.:),[1] generally refers to an army or other fighting force that is composed of non-professional fighters; citizens of a nation or subjects of a state or government that can be called upon to enter a combat situation, as opposed to a professional force of regular soldiers or, historically, members of the fighting nobility.

CITIZENS! People who bring their own weapons to the fight- ANY weapons! What part of "shall NOT be infringed" don't you understand???????????

Thu, 03/14/2013 - 16:36 | Link to Comment MagicHandPuppet
MagicHandPuppet's picture

I don't support the initiation of violence or force... but I'd understand if all the enemies of the second amendment were rounded up and dealt with swiftly by the supporters.

Thu, 03/14/2013 - 19:18 | Link to Comment Colonel Klink
Colonel Klink's picture

It's much simpler to understand if you substitute the word control for infringe.  Which mean all gun control is unconstitutional at a federal level.  Period.

Thu, 03/14/2013 - 16:05 | Link to Comment ebworthen
ebworthen's picture

"well regulated" in the context of the 2nd amendment means disciplined and trained and the concomitant necessity of being well supplied, as in possessing the firearms and ammunition necessary to the security of a FREE state, meaning every citizen should be allowed to posses currently an automatic AR-15 with at least two 30 round clips and M9 sidearm with at least two 15 round magazines (and probably more).

"well regulated" has nothing to do with the obscene modern context of regulating soda or ammunition clip size.

How free can a state be FREE if the citizen militia cannot posses and bear the same weapons as the police and military?

How can citizens defend themselves and the Constitution against the tyranny of the state with inferior weapons and supplies?

Hohum - you also left out "the right of the people to keep" and bear arms.  The People, not the military or police, but "The People" as in "We The People".

Thu, 03/14/2013 - 15:31 | Link to Comment Meat Hammer
Meat Hammer's picture

Where is the word "arms" defined?  Here's a hint, fucktard:  It's not!

arms n 1: weapons considered collectively [syn: weaponry, implements of war, weapons system, munition]

All gun laws are unconstitutional.  

Yes, it might be tough for you to wrap your pea-brain around this, but I actually can drive an Abrams tank down my street and I'm not a criminal until I fire a shell into my neighbor's house.  

Thu, 03/14/2013 - 16:01 | Link to Comment Mad Mohel
Mad Mohel's picture

Yeeee-fuckin-haaaaa that's what I am talking about. I trust Bob down the street with a bazooka over any fuckin Holder goon.

Thu, 03/14/2013 - 18:40 | Link to Comment Overfed
Overfed's picture

A bazooka isn't a gun.

Thu, 03/14/2013 - 22:58 | Link to Comment BidnessMan
BidnessMan's picture

Hmmmm.... A tube that emits a projectile when the trigger is pulled. So why is it not at least a smoothbore gun?

Thu, 03/14/2013 - 22:58 | Link to Comment BidnessMan
BidnessMan's picture

Hmmmm.... A tube that emits a projectile when the trigger is pulled. So why is it not at least a smoothbore gun?

Fri, 03/15/2013 - 02:32 | Link to Comment dunce
dunce's picture

A bazooka fires a rocket.

Sat, 03/16/2013 - 02:12 | Link to Comment John_Coltrane
John_Coltrane's picture

In other words,  its projectile acceleration is driven by the expansion of a gas and the resultant momentum transfer.  Exactly like a bullet from a gun barrel, eh dunce.

Good moniker, BTW.

Thu, 03/14/2013 - 15:40 | Link to Comment Abiotic Oil
Abiotic Oil's picture

Read some history.

Another jurist contemporaneous to the Founders, William Rawle, authored "A View of the Constitution of the United States of America" (1829). His work was adopted as a constitutional law textbook at West Point and other institutions. In Chapter 10 he describes the scope of the Second Amendment's right to keep and bear arms:

The prohibition is general. No clause in the constitution could by any rule of construction be conceived to give congress a power to disarm the people. Such a flagitious attempt could only be made under some general pretence by a state legislature. But if in any blind pursuit of inordinate power, either should attempt it, this amendment may be appealed to as a restraint on both.

-----

Earlier, in The Pennsylvania Gazette, Feb. 20, 1788, while the states were considering ratification of the Constitution, Tench Coxe wrote:

Who are the militia? are they not ourselves. Is it feared, then, that we shall turn our arms each man against his own bosom. Congress have no power to disarm the militia. Their swords, and every other terrible implement of the soldier, are the birth-right of an American...The unlimited power of the sword is not in the hands of either the federal or state governments but, where I trust in God it will ever remain, in the hands of the people.

Thu, 03/14/2013 - 15:46 | Link to Comment fuu
fuu's picture

You are an ignorant vagina.

Thu, 03/14/2013 - 15:56 | Link to Comment Jack Burton
Jack Burton's picture

Did you mean "cunt".

Now that is a terrible word in America, but having spent too much time in Britain, I am prone to use it way too much. Over there it is more of a generic swear word and can pertain to men or women. They seem to especially love that word in the urban parts of Scotland. But there it does not carry the same power as in the USA. My woman was especially troubled by it's use, and I never ever let it slip around her!

 

Thu, 03/14/2013 - 16:16 | Link to Comment Meat Hammer
Meat Hammer's picture

I think he actually meant vagina.  Cunt is an arbitrary, vulgar insult.  Calling someone an actual vagina let's them know that they're smelly, foul, and useless 25% of the time, while the rest of the time they're only good for my pleasure and only up until the point where I eject bodily fluid in its direction, which then suddenly makes me want to ignore it and get back on ZH.

Thu, 03/14/2013 - 16:25 | Link to Comment chubbar
chubbar's picture

Meat hammer, That was just so fucking rude that I was forced to give it an up arrow. Good god man, just speachless.

Thu, 03/14/2013 - 16:32 | Link to Comment Meat Hammer
Meat Hammer's picture

You're welcome

Thu, 03/14/2013 - 16:39 | Link to Comment Meat Hammer
Meat Hammer's picture

fuu is typically right on the mark, so I was just helping illustrate that.

Thu, 03/14/2013 - 16:55 | Link to Comment fuu
fuu's picture

<bow>

Thu, 03/14/2013 - 19:20 | Link to Comment 20834A
20834A's picture

So sorry you have such hangups. Is all sex dirty to you? They have counseling for that. Or maybe you just prefer anuses?

Thu, 03/14/2013 - 15:59 | Link to Comment Citxmech
Citxmech's picture

"Well regulated" means "functional."

"Militia" refers to "The People."

Next. . .

Thu, 03/14/2013 - 16:25 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

... next ... comes the 14th Amendment

which says you ainT PEOPLE.

Thu, 03/14/2013 - 17:44 | Link to Comment Citxmech
Citxmech's picture

Er, wrong.

People are just more than one "Person."

"Citizens" are people born in the U.S. or naturalized.

Why is this shit so hard for you to understand? 

Thu, 03/14/2013 - 16:25 | Link to Comment Steve in Greensboro
Steve in Greensboro's picture

Amend the Constitution or move to Canada or do nothing, but regardless STFU.

Thu, 03/14/2013 - 16:27 | Link to Comment Go Tribe
Go Tribe's picture

Uh...the 2nd amendment is an AMENDMENT. Get it????

It amends, among other parts of the Constituion, Article 1, Section 8 which specifies that Congress is responsible for ensuring a well regulated militia which means a well-equipped and modern militia capable of kicking ass.

"To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress..."

 

So the 2nd Amendment amends that, saying that even though a well-regulated militia is necessary to the security of a free state, the right to bear arms WILL NOT BE INFRINGED.

Thu, 03/14/2013 - 17:00 | Link to Comment TBT or not TBT
TBT or not TBT's picture

At the time the militia was all able bodied free males. All of them. Well regulated at the time meant well prepared, effective, well equipped. At that time. Also, note the SUPPORTING subordinate clause containing the well regulated militia bit is...subordinate to the statement of law: The right to keep and BEAR (outside of the home included) arms shall not be infringed. Arms meant arms usable in military action by infantry. Back then many canons were privately owned. That's the backdrop of Miller and Heller. It's the way our law is written.

Thu, 03/14/2013 - 17:04 | Link to Comment Ghordius
Ghordius's picture

Cannons? Not only that, also whole warships. Think privateers

Thu, 03/14/2013 - 17:05 | Link to Comment pashley1411
pashley1411's picture

Hohum must have a higher-level degree.   

Thu, 03/14/2013 - 17:09 | Link to Comment Count de Money
Count de Money's picture

Typical retarded lefty. Apparently you only read what you want to read.

"A well regulated militia being necessary to the security of a free state, the right of the people to keep and bear arms shall not be infringed."

You should be the one who learns how to read. Nice try idiot.

Thu, 03/14/2013 - 18:34 | Link to Comment TBT or not TBT
TBT or not TBT's picture

Hmmm. We should check the national archives copy. I believe "of the people" is not in there. It was implied. Thus the bogosity we suffer with whether or not the 14th "incorporates" the 2nd to the states. Recall the big gun control movement was a Democrat thing part and parcel of their program to keep blacks down after emancipation. Lots of evasion of the 2nd amendment over time, mostly Democrat in origin, mostly to do with identity politics, as it is with fascists and populists of the left.

Thu, 03/14/2013 - 21:58 | Link to Comment NOTfromSanFrancisco
NOTfromSanFrancisco's picture

 

 

"Seems like banning assault weapons might be constitutional, at least according to the plain language of the Second Amendment."

Well there it is Hohum-dum... If one didn't know you were an ignorant troll, making ignorant comments, trying to incite people, one might be inclined to enter into an ignorant argument with you... Have a nice visit in Junk City... Troll...

Fri, 03/15/2013 - 00:39 | Link to Comment MiketheHun
MiketheHun's picture

I'm afraid your research skills might be the one lacking. Check the historical use of the language, "regulated militia" is today synonymous with functional rights to bear arms. any diminshment of that right would be to invalidate many others, one right supports the others.

http://www.americanthinker.com/2012/12/the_real_second_amendment.html

Thu, 03/14/2013 - 15:04 | Link to Comment Middle_Finger_Market
Middle_Finger_Market's picture

The river nile flows through 10 African countries. As with the river nile everything must come to an end. The truth of inevitability always hurts the most, and it is the denial which leeds to the most pain. (ALOT)Tough(er'r) times ahead, if you truly believe your own words Mr. Durden or are you in denial?

Thu, 03/14/2013 - 15:09 | Link to Comment NotApplicable
NotApplicable's picture

Your congressman/woman and US Senators????

I don't own any congress critters, and since you hang out here, it's safe to say that you don't either.

Quit being one of their tools, only serving to further empower them with your begging.

Honestly, it's embarrassing to see from supposed grown-ups. Be responsible for yourself, mind your own business, and those critters will have NO BASE OF SUPPORT.

I can elect myself emperor of the universe, yet you'd never beg my permission for anything. Yet for some reason, you're blinded to the fact that they are no different, as they have NO MORAL BASIS FOR EXISTENCE.

They are nothing but the most organized form of crime, and it's all because of people like you.

Thu, 03/14/2013 - 15:21 | Link to Comment little buddy bu...
little buddy buys the dips's picture

+1

Thu, 03/14/2013 - 17:32 | Link to Comment kchrisc
kchrisc's picture

Great comment.

When ever I see or hear, "Write/call your Congressman (criminal)," I almost laugh, but it's so tragic and sad I don't.

Better to just wait for the guillotines to arrive.

hujel

Thu, 03/14/2013 - 15:12 | Link to Comment WTFx10
WTFx10's picture

Write?

They need to be fuckin arrested. A military coup would make them shit their pants. If you worked against the constitution then you are guilty until proven innocent just like they treat the "we the people".

The military takes an oath to the constitution not these criminals. Commander and chief my ass, he 's a house negro and the bankers are the slave owners. Makes statements like a debt junkie too cause he ain't paying the bill. "we the people " are.

But how many in the military are just as corrupt? How many millionares in the ranks?

Reality is a Bitch?

"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

"And remember, where you have a concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that."

John Dalberg Lord Acton

"TRUTH is the enemy of the STATE"
Paul Joseph Goebbels was a German politician and Reich Minister of Propaganda in Nazi Germany

    “Truth hurts. Maybe not as much as jumping on a bicycle with a seat missing, but it hurts.”

                                      -Naked Gun

Thu, 03/14/2013 - 16:03 | Link to Comment Jack Burton
Jack Burton's picture

Yes when you are sworn in to the military, as I was many years ago, you do swear to protect and defend the constitution against all enemies, foreign and domestic. As a 17 year old kid, I was actually surprised that I was ONLY swearing alligance to the constitution and not the president or congress or something.

But, I would not get all giddy about the present day military stepping in against politicians and taking over to rule in the name of the constitution. If you believe that, you are sadly misinformed about today's military makeup and mindset. It is not going to happen, and the military would hardly give you your constitutional rights. Military rule is going to be led by the elites and the corporations and not by some back to the people movement. Don't put your hopes in that, it is not reality.

Thu, 03/14/2013 - 16:58 | Link to Comment WTFx10
WTFx10's picture

"Don't put your hopes in that, it is not reality" Who said anything about hope? Except the house negro.  The gangsters will start the war be it a civil or a world war.  Millions will die and the present owners (do not call them elite they are gangsters) will not be held accountable so they can start it up all over again. (they breed like rabbits)

Our empire will crumble just like all the others before it. We have not learned anything from history and you just confirmed the obvious.

Reality is a Bitch?

“Truth hurts. Maybe not as much as jumping on a bicycle with a seat missing, but it hurts.”

                                      -Naked Gun

 

 

 

Thu, 03/14/2013 - 15:33 | Link to Comment Banksters
Banksters's picture

 

 (October 31, 2007) "It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions."

And then  failing BANKS got zero percent cash, FASB along with a shitload of lending 'facilities' and small and mid sized businesses got FUCKED. FUCK YOU BERNANKE.

 

Thu, 03/14/2013 - 15:35 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Give anyone the printing press and guess what would happen.  They'll print like crazy and spend like crazy until others start to figure out they got an unlimited supply and begin charging the guy with the printer more for his purchases.  Then the newly enriched sellers would in turn begin seeing the cost of their purchases increase, and so on down the line until the prices are going higher for everyone all the time and the guy with the printer has to print faster and faster to have any effect down the line.  That's how our economy has worked since the inception of the Federal Reserve.

A very imperfect system, but the guy with the printer and those with closest access to him have the greatest power and always get the most money for the least possible effort.  Oh yes, it also happens to be highly unethical, eminently immoral, unconstitutional, and illegal, but none of that matter nowadays.

Thu, 03/14/2013 - 22:52 | Link to Comment BidnessMan
BidnessMan's picture

Yet that is exactly why the Fed was set up. The ultimate backstop to prevent bank runs. Caused by lenders and investors getting the consequences of their bad financial decisions

Thu, 03/14/2013 - 15:12 | Link to Comment 20834A
20834A's picture

AND...what no one seems to mention: The CBO estimated the cost of Obamacare based on a GDP of 4%+. Oooops...

Thu, 03/14/2013 - 15:14 | Link to Comment LFMayor
LFMayor's picture

Write?  Vote?  Reason?

Yeah, those have worked so well.  Piss on those wastes of time.

I want them to keep on doing exactly what they're doing.  I want the collapse.  I want to play Mad Max.  I want the playing field leveled, so we can have the Human Race.

Good luck and good hunting.

Thu, 03/14/2013 - 15:28 | Link to Comment Five8Charlie
Five8Charlie's picture

Exactly.

Q: What happened with the TARP vote? A: The percentage of people calling congress to vote down TARP was in the high 90% range, IIRC. Those phone calls didn't matter shit compared to the one they got from their pimp.

I don't want a Mad Max ending to this. But it sure seems like someone does.

Thu, 03/14/2013 - 16:44 | Link to Comment Radical Marijuana
Radical Marijuana's picture

Yeah, I expect a "Mad Max" ending that is a trillion times worse.

Nobody makes a realistic movie about war after weapons of mass destruction, since most of it would be quite boring.

Fri, 03/15/2013 - 01:49 | Link to Comment StychoKiller
StychoKiller's picture

"Teenage Caveman", with Robert Vaughn

Thu, 03/14/2013 - 16:50 | Link to Comment MagicHandPuppet
MagicHandPuppet's picture

T.A.R.P. = Treasonous Act of Raping the People.

Thu, 03/14/2013 - 15:29 | Link to Comment Crash Overide
Crash Overide's picture

11. The fact that the so called people "running things" keep taking our rights and kicking us in the balls * vagina's too* and yes laughing at us because we haven't collectively figured out their control is an illusion.

1... 2... 3... wake up.  I keep asking how much more will it take to break the sheep?

Thu, 03/14/2013 - 14:48 | Link to Comment Divided States ...
Divided States of America's picture

Ostrich meat maybe serving in a restaurant near you....

Thu, 03/14/2013 - 14:59 | Link to Comment orangegeek
orangegeek's picture

Ostrich is really good.  Have you had it before?

Thu, 03/14/2013 - 15:24 | Link to Comment sodbuster
sodbuster's picture

If that ostrich with his head in the sand, is symbolic of our government and fed reserve, it should be shown with it's head up it's ass. Or at least another bankers ass.

Thu, 03/14/2013 - 17:19 | Link to Comment Salah
Salah's picture

Ostrich, yummy

Thu, 03/14/2013 - 14:52 | Link to Comment Abraxas
Abraxas's picture

The cat on the picture is Ben before reincarnation. Notice the slightly insane look in the eye and the beard.

Thu, 03/14/2013 - 14:52 | Link to Comment 1835jackson
1835jackson's picture

When the elite move their positions accordingly with precision timing the bottom will fall out. Then war.

Thu, 03/14/2013 - 14:53 | Link to Comment lolmao500
lolmao500's picture

Yet try talking about REALITY to the average guy out there and they'll say you're nuts, a conspiracy theorist, don't know anything about economics or you're a pessimist.

Thu, 03/14/2013 - 15:03 | Link to Comment TrumpXVI
TrumpXVI's picture

Totally true.

I can't mention anything about the fact that I think we're heading for an economic collapse around work.  My boss and anyone else in the room will look at me like I'm an escapee from an insane asylum....and then giggle....at how totally out of touch with reality I am.

Thu, 03/14/2013 - 15:23 | Link to Comment U4 eee aaa
U4 eee aaa's picture

Try not to get in the way when they are jumping out of the windows

Thu, 03/14/2013 - 15:26 | Link to Comment Sigep0612
Sigep0612's picture

You speak the truth.  I've talked to people about our growing debt problem and now I am called an "Alarmist." 

Everyone wants to live in their nice little world that doesn't require sacrifice, doesn't require them to use their brain, doesn't require self sufficiency, and doesn't upset their view that the kids will have a better like than mom and dad.     

Thu, 03/14/2013 - 17:59 | Link to Comment 1C3-N1N3
1C3-N1N3's picture

I have had success in talking to people about this and I know a few of them have given ZH a shot.

When you take several minutes to blurt out the overview of how the system works, yeah, people will absolutely think you're crazy because it's so big, complex, and fucked up that it just sounds like you made the whole shit up in a fit of schizoaffective convulsion and nobody wants that.

I give it to them one line at a time. Like if someone is talking about their "money", I might say: "The US Dollar isn't money." And just leave it at that. If they're curious for an explanation, I'll give them another line like, "It's currency, there's a difference."

When your audience is legitimately curious, they will see you as more of a teacher/mentor figure and less of a raving preacher type. You have to make it THEIR idea to continue talking about it. You have to let them find the right conclusion on their own or else it's YOUR conclusion, not theirs.

Thu, 03/14/2013 - 20:23 | Link to Comment 1C3-N1N3
1C3-N1N3's picture

I'll also add that body language is even more important to delivering the message effectively than anything else. If you don't naturally exhibit strong, positive body language, then no logic in the world will help you here. Learn it.

Thu, 03/14/2013 - 14:57 | Link to Comment Shizzmoney
Shizzmoney's picture

Krugman:

"The United States is a country that has its own currency--can’t run out of cash because we print the money."

NO WE DON'T!!!!!!!!11111

If the currency WAS made/printed by the people, FOR the people, we wouldn't be in this mess. 

We wouldn't have Glass-Steagall removed.  We wouldn't have a government run by corporate schills and ideologues.  We wouldn't have more lobbyists in Washington than Congress, 10x's over.

Most people don't like the MMT as a theory....but at least it supports a SOVEREIGN currency.  The Federal Reserve, and it's Federal Reserve Note, is NOT a sovereign currency.  It's a tool used as a monopolization vehicle of assets (DJIA) and commodities (mostly oil) that the plebs (who call it the U.S. Dollar) just happen to use as a note of barter. 

If the people had any control of the currency.......we'd actually have an economy, and a society, that works for everybody. 

Thu, 03/14/2013 - 14:59 | Link to Comment No Euros please...
No Euros please we&#039;re British's picture

Denial? What's this got to do with Egypt? Anyway, this time it's different.

 

Do I really need /s?

And isn't "boldy declared" a split infinitive? Just saying.

Thu, 03/14/2013 - 15:00 | Link to Comment JustObserving
JustObserving's picture

The jobs of most politicians and Wall Street economists depend on denying reality.  The denial will go on until the system collapses.

Besides, there is no real economy anymore.  All growth is funded by Ben's $3.7 trillion in QE so far and the continuing $85 billion a month.

Thu, 03/14/2013 - 15:03 | Link to Comment ekm
ekm's picture

The radio this morning in Toronto said that "chances are that DOW will make it 11 in row today"

 

Then the cheerful radio guy said that the best record was 14 days dow winning streak in a row in ..............................JUNE 1987.

 

Quite obvious that the radio guy was not aware of what happened after that in 1987.

Thu, 03/14/2013 - 15:05 | Link to Comment Keynesian Mess
Keynesian Mess's picture

But, but, but ... isn't it different this time?

Thu, 03/14/2013 - 15:07 | Link to Comment Mrmojorisin515
Mrmojorisin515's picture

If Buffett thinks the wild money printing that the Fed has been doing is so wonderful, then he probably would have absolutely loved living in the Weimar Republic.

 

Nah, he'd be naked if the tide pulled out

Thu, 03/14/2013 - 15:08 | Link to Comment Gordon_Gekko
Gordon_Gekko's picture

I call bullshit on chart no. 1. BULLSHIT.

Thu, 03/14/2013 - 15:15 | Link to Comment ebworthen
ebworthen's picture

Exactly.

How can a chart that follows inescapable reality be predictive?  Typical FEDspeak.

Thu, 03/14/2013 - 15:17 | Link to Comment akak
akak's picture

He's back!

Thu, 03/14/2013 - 16:40 | Link to Comment Cpl Hicks
Cpl Hicks's picture

What it says is that there is NO probability of a recession until there IS one!
Effing ridiculous that some PHDs on the Fed staff would even post this.

Thu, 03/14/2013 - 15:09 | Link to Comment PMakoi
PMakoi's picture

Green shoots!

Thu, 03/14/2013 - 15:18 | Link to Comment akak
akak's picture

Mustard seeds!

Thu, 03/14/2013 - 15:11 | Link to Comment tony bonn
tony bonn's picture

"..."We're not gonna balance the budget in 10 years"..'

said like a true indonesian citizen nazi....for once the murdering liar told the truth....

Thu, 03/14/2013 - 15:12 | Link to Comment ebworthen
ebworthen's picture

How strong is the economy if weather, which has always been with us, can cause disruptions?

One only needs to think back to 2007-2008 and all the same talking points and cheerleading to see the lies of today.

20+ million more on Food Stamps, $6+ Trillion more in debt, record low labor participation rates, less savings, more personal debt.

This is a "recovery" of perception and propaganda only - nothing real to it other than banker incomes.

PONZI!

Thu, 03/14/2013 - 15:12 | Link to Comment ptoemmes
ptoemmes's picture

I think the market is a sad joke, but I can make the case that it is forward looking....and it sees the FED continuing to "print" and inject.  It also may see that Congress and the Executive will never do anything significant about spending snd so, deficit and debt 4eva which means governmnet spend, spend, spend.

Perhaps the market is now nothing more that a discouting mechanism for the FED and, generally, the spending behavior of the national government.

 

 

Thu, 03/14/2013 - 15:13 | Link to Comment cougar_w
cougar_w's picture

There is no actual "real" economy to talk about here folks. The real economy died 40 years ago and was replaced with a fog of financial gimmicks. Replaced with a Ponzi economy that is now coming unglued due to lack of fresh inputs.

Americans for 40 years have been living off the savings and productive labor of a prior generation or three. Not since the 70's have Americans actually created value from production. Since that time we've all been living by drawing down the  principal of a massive trust fund laid up in the decades immediately following the Second World War.

Thu, 03/14/2013 - 16:00 | Link to Comment adr
adr's picture

I design products for production every day. Most can't be produced in the USA, I've tried. I did get some socks and a few shirts produced in the USA last year, guess its someting.

One product line I made sold over $100 million worth to Target, Bed Bath & Beyond, Macy's and Walmart.

Like I said before, the profit off the $100+ million in actual sales pales in comparison to the increase in value of the corporation's goal seeked P/E fabricated stock. A CFO fudging a 2% EPS beat could generate ten times that value for the corporation in a single day.

The company I designed the products for doesn't even design their own product anymore. They just slap a brand name on Chinese designed and sourced product. The company fired 75% of the staff and maintains a shell operation with a few inside sales people, an accounting department, and a few CSRs. Warehousing and distribution was outsourced long ago. The corporation's stock is up about 150% since I worked for them in 2003 and that is about the only thing the company actually produces. If the CEO was caught munching away on human bones, I wouldn't be surprised.

How long can economy built on the perception that there is actually an economy last?

Thu, 03/14/2013 - 16:48 | Link to Comment cougar_w
cougar_w's picture

Thanks for sharing news from the front. Sounds about right. Your comment about the importance of fudging around with quarterly earnings reports of course would apply to most of the Fortune 500.

I don't see any way to turn this ship around.

Thu, 03/14/2013 - 17:24 | Link to Comment negative rates
negative rates's picture

Oh that's good, just as long as he don't see it coming either.

Thu, 03/14/2013 - 17:21 | Link to Comment Totentänzerlied
Totentänzerlied's picture

Sounds like Best Buy.

Thu, 03/14/2013 - 16:02 | Link to Comment swmnguy
swmnguy's picture

This.  +1.

Thu, 03/14/2013 - 15:13 | Link to Comment davidsmith
davidsmith's picture

When you're a fascist looter,you lie a lot.  Next?

Thu, 03/14/2013 - 15:15 | Link to Comment fuu
fuu's picture

I was reading just this afternoon that if you adhere to the negative, end-of-the-financial world collapse groupthink you are juvenile and ignorant.

He also said it appears the consumer is going to save the day again.

So take that silly doomer goon.

Thu, 03/14/2013 - 15:26 | Link to Comment U4 eee aaa
U4 eee aaa's picture

Are there enough of us to make a group?

Thu, 03/14/2013 - 15:16 | Link to Comment toms
toms's picture

OBAMA preaches that deficits don't matter...spoken like a true Kenyan!

Thu, 03/14/2013 - 15:20 | Link to Comment Racer
Racer's picture

Biden: says we have to 'spend money to save from going bankrupt'

What a moron

Thu, 03/14/2013 - 15:22 | Link to Comment Bastiat
Bastiat's picture

 

Cruz gives Fienstein a lecture on the Constitution, lights her right up!!

Off topic but many here will enjoy this:  http://www.weeklystandard.com/blogs/explosive-exchange-gun-hearing-between-ted-cruz-and-dianne-feinstein_707602.html

 

 

Thu, 03/14/2013 - 15:34 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

Fienstein is a troll...

Thu, 03/14/2013 - 15:56 | Link to Comment Winston Churchill
Winston Churchill's picture

More poison dwarf.

Thu, 03/14/2013 - 17:55 | Link to Comment steve from virginia
steve from virginia's picture

 

 

 

Feinstein is incompetent, a simple soft-ball question by Cruz anyone with any sense would have knocked out of the park.

 

The US already regulates firearms and other weapons, at the same time, cheese is more heavily regulated than firearms.

Thu, 03/14/2013 - 15:21 | Link to Comment Racer
Racer's picture

That chart is hilarious, they only see it when it hits them in the face

Thu, 03/14/2013 - 15:27 | Link to Comment lasvegaspersona
lasvegaspersona's picture

yes yes yes

The government lies (or really does not know, which is likely true for many of our elected officials)

these people play out their roles

Some day (in the afterlife!) we may learn what they really think. I can't imagine Ben is really so ignorant but who really knows...

For now those who believe otherwise prepare, if we are wrong we miss out on THE BIGGEST BULL MARKET OF ALL TIME!!, if we are correct....well then we'll see who is laughing won't we...

Thu, 03/14/2013 - 17:39 | Link to Comment 10PastMidnight
10PastMidnight's picture

You need a Bull to actually have a bull market and our bull got sold as hambuger 100x in hedging already.

Thu, 03/14/2013 - 15:27 | Link to Comment little buddy bu...
little buddy buys the dips's picture

seriously?

 

*sigh*... 

 

articles like this make me realize how happy i am that i have a garden. 

Thu, 03/14/2013 - 15:30 | Link to Comment Crash Overide
Crash Overide's picture

I am long: gardens, guns, ammo, booze, books, and LENR/Plasma technology.

Thu, 03/14/2013 - 16:11 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

"LENR/Plasma tech".  Cold or hot?  Literal or Metaphoric?  Do you figure Cold will become Hot?

Personally, I'd long a combo of Solar, Hydro, Wind and Geo as "long" for personal, local and regional power-source streams.

Thu, 03/14/2013 - 15:27 | Link to Comment Smuckers
Smuckers's picture

Dead people don't need phones?
What rubbish!  I see an untapped market to save APL!
Bring out iPhone iOS 6.66 and 7.77! Worm-smudge resistant screens!
Auto answer functionality, with free long distance!
iTombs!

It's all bullish!!  Who's with me?!

...anyone?

 

Thu, 03/14/2013 - 15:50 | Link to Comment cougar_w
cougar_w's picture

I think the iTombs thing as real potential.

Thu, 03/14/2013 - 15:29 | Link to Comment rawsienna
rawsienna's picture

market will continue to go up until a level where there is a perceived risk of a 10% or more decline. That is what happens when the Fed puts a "floor" -percieved or real - under any asset class.  To bad in the real world where businesses large and small make decisions to invest and hire, there is no FED put.  Only if you own financial assets are you considered being worth of being protected from loss.  There is the bubble  - disconnect btwen perceived risk in fianancial assets vs real world 

Thu, 03/14/2013 - 15:29 | Link to Comment HD
HD's picture

The people "at the top" live in a bubble. They are isolated from the reality the 99% lives in and only listen to the voices they want to hear. They honestly believe that crushing the OWS or seasonally adjusting their way to economic nirvana is building confidence - and all that is needed is confidence (and endless money printing).

They won't see whats coming because they choose not to look...

 

 

 

Thu, 03/14/2013 - 15:29 | Link to Comment q99x2
q99x2's picture

Such antiquated questions for a time like this. When the cash or goods are in my hands that is the only time I trust anyone or anything.

Thu, 03/14/2013 - 15:35 | Link to Comment Lendo
Lendo's picture

The lolcat made the artice.

Thu, 03/14/2013 - 15:38 | Link to Comment fijisailor
fijisailor's picture

I wouldn't bet on a crash with a totally manipulated market via easy money.  More likely the Zimbabwe scenario will play out where the total value of the stock market will buy 2 eggs. 

Thu, 03/14/2013 - 15:45 | Link to Comment adr
adr's picture

So there is a near zero percent chance of a recession until you are in a recession, and a near zero percent chance you're in a recession once the recession ends.

Wow, thanks St. Louis Fed!!!

I'm off to bang my head against the wall.

Thu, 03/14/2013 - 15:46 | Link to Comment Jack Burton
Jack Burton's picture

One must not speak ill of president Bush. Just because he didn't see it coming doesn't mean that his wars "on credit card" and his housing ownership society were wrong. In fact, Bush  only had a 1.2 trillion dollar deficit budget when he left office because he wanted to give Obama a head start on overspending. Bush's bailout of the banks were highly profitable to the tax payers and the new Fed money printing policy has proven to be the right one to stir a recovery.

So while I like this article, it starts out bad mouthing Bush, and that is not right.

[sarc "on"]

Thu, 03/14/2013 - 18:38 | Link to Comment Kayman
Kayman's picture

" bailout of the banks were highly profitable to the tax payers " And after the rape, he hands you a cigarette and asks, "was it good for you too ?"

Thu, 03/14/2013 - 15:48 | Link to Comment km4
km4's picture

Only Wall Street Wins in Detroit Crisis Reaping $474 Million Fee

http://www.bloomberg.com/news/2013-03-14/only-wall-street-wins-in-detroi...

The only winners in the financial crisis that brought Detroit to the brink of state takeover are Wall Street bankers who reaped more than $474 million from a city too poor to keep street lights working.

Yet Ben's $85B/mo into stock market makes sure J6P piddling 401K is going up 

Thu, 03/14/2013 - 15:57 | Link to Comment Rocket De Stock
Rocket De Stock's picture

Some of the absolute best currency trading advice I have found to date from this fellow Forex Kong - now suggesting a buy in GBP. As well great suggestion on order entry.

 

http://forexkong.com/2013/03/08/order-entry-small-orders-over-time/

If the Fed want's to keep doin it's thing fine - we might as well just profit any way we can.

Thu, 03/14/2013 - 15:57 | Link to Comment astoriajoe
astoriajoe's picture

" Many of them are absolutely amazed that the U.S. economy has become so disconnected from economic reality."

Do you mean amazed the U.S. stock market has become disconnect from economic reality?

 

Thu, 03/14/2013 - 15:58 | Link to Comment polo007
polo007's picture

http://blogs.wsj.com/marketbeat/2013/03/14/dows-winning-streak-has-that-roulette-feel-to-it/?mod=MarketsMain

What goes up must go down at some point, right?

The Dow Jones Industrial Average has risen every day this month, and judging by today’s early action, the streak may stay intact.

The nine-day winning streak is the longest for the Dow since November 1996. The Dow was up more than 50 points this morning, showing more conviction after wobbling to a combined eight-point gain over the previous two trading sessions.

There is historical precedence for such a move. Since 1948, there have been 24 prior occurrences of nine up days in a row for the Dow, according to the technicians at Instinent, an electronic-market operator. Thirteen times the streak ended at nine. Four of them stretched to 10, two stopped at 11 and one hit 12. The record is 13 up days in a row, which came in 1987.

Thu, 03/14/2013 - 16:06 | Link to Comment adr
adr's picture

I saw that once in Vegas. One black number on the board and seven straight red numbers. There were even three reds before the one black.

There was a crwod of people betting red, and a few contrary people betting black. There was an obvious bet but nobody took it.

The number came up 00 and everyone lost.

When does Bernanke drop a 00 on the house?

Thu, 03/14/2013 - 17:22 | Link to Comment Count de Money
Count de Money's picture

The Dow is pretty much meaningless.

First it tracks only 30 stocks and if you don't own any of them, whatever the Dow does doesn't matter to you. Second, the stocks that it tracks are pretty much arbitrarily chosen. if AAPL was in the Dow instead of HPC, it would have peaked back in September and crashed since. Lastly, it's not weighted by stock price. The index is created by adding up the prices and multiplying by a factor. If IBM goes up by a buck, it's the same as if T goes up a buck. But a $1 increase in IBM is less than a 0.5% increase while for T it's a 3% increase.

All the Dow talk is to rope the suckers in before the big fleece.

Thu, 03/14/2013 - 16:04 | Link to Comment Watching in Bal...
Watching in Baltimore's picture

 

It is a sad truth but the truth none the same, government's role is to maintain its power and the power of the wealthy 1% at all cost.  If the US government came clean about what is happening in the real world they would all be thrown out of office at the very least and much more likely there would be wide spread riots.  I feel that all of this will end very badly and fear what will happen in the aftermath especially the world that my 7 year old will have to live in.

 

Thu, 03/14/2013 - 16:05 | Link to Comment ramacers
ramacers's picture

good. the bigger the better. then the real "rectification" can begin. it'll be the crimson tide comin' in.

Thu, 03/14/2013 - 16:36 | Link to Comment swmnguy
swmnguy's picture

Is the root of the word "rectification" something like "rectum?"

Thu, 03/14/2013 - 16:06 | Link to Comment swmnguy
swmnguy's picture

When people think the stock market IS the economy, and think that government debt is the problem as opposed to private and synthetic debt, then it's pretty obvious most people have no idea what's going on.  Therefore, anything they say is going to nonsense, because it's based on a false premise.

Look.  Our system depends entirely on infinite supplies of energy, resources, markets and money.  Of those 4, only money is infinite in our world.  That's because our money is actually debt, and it's abstract, and it can be bought and sold in the abstract, and on margin. 

Since we have clearly hit the wall in sources of energy, markets and resources, the only thing left is to make that abstract debt/money infinite.  That's going to have some fairly obvious and disturbing consequences.  Prepare accordingly.

Thu, 03/14/2013 - 16:34 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Bucket Buffet is correct insofar that if the Fed stopped plopping coins into the Banking and Stock Market, this merry-go-round would have stopped.  It's running purely on two-bit Fed coins:  With stock prices up, publicly traded companies can keep being monetized and they can keep trying to sell stuff/crap to markets that are saturated (or damn close to it), and not growing like they hoped/projected (cause you laid off the end-users, you executive dumb-asses!).

This feels totally like the centrally planned economies of the old Iron Curtain countries, where all corporate balance sheets were massaged, and topped with cash infusion from their central banks.  We're talking "first-hand experience" here. And, just like behind the Iron Curtain of old, it sounds and feels like there is, there must be a land somewhere, where real laws of physics, currency and economics apply.  There has to be an "America" somewhere!

The US dollar and its markets are The CON of all economic cons in world history.  Thanks to Bush, Obama, Congress, and the dumb-ass MF'ers who elected them!

Since this beast is unfixable, the next best thing is the proverbial wrecking ball of its own weight:   Obama, please inflate even faster & higher, and thus get to... "Mr. Obamachev, Tear Down This Wall!"

Thu, 03/14/2013 - 16:37 | Link to Comment SkottFree
SkottFree's picture

"Many of the big Wall Street banks are absolutely giddy that the Dow keeps setting new all-time highs, and many of them are projecting wonderful things ahead for the U.S. economy.  For example, here is one forecast from Morgan Stanley's Vincent Reinhart ..."

 

Me thinks there are just giddy over what their yearly bonus will be!

Thu, 03/14/2013 - 17:09 | Link to Comment steve from virginia
steve from virginia's picture

 

 

 

Yup, lotsa denial out there. Americans don't want to be heroes any more, this isn't the land of the free, it's the land of free stuff.

 

Heroes face hardship and do what needs to be done. They don't like pain but they understand it goes with the 'hero' territory. Today, the American wants to hire Mexicans to do the heavy lifting.

 

If that doesn't work they will blame the consequences on the Negro. It's not that people don't want responsibility for others, they refuse to take responsibility for themselves.

 

Lotsa denial out there the number 1 product of business and media is BS about everything important. It's just like the Vietnam days: 'Light is at the end of the tunnel'. That's just the furnace for burning up all the money.

 

Turns out free stuff isn't really free. We've been paying all along, bleeding out a little at a time, only recently we've noticed.

Thu, 03/14/2013 - 17:27 | Link to Comment Totentänzerlied
Totentänzerlied's picture

"Turns out free stuff isn't really free. We've been paying all along, bleeding out a little at a time, only recently we've noticed."

Who are "we"? I don't know a single person, excluding myself, who would agree with that or to whom it applies. The gravy train is still on, the problems are still seen as wholly the result of a few dozens bankers' and politicians' actions within the last 12 years, and the exceptionalism and entitlement mentality is still going strong.

Thu, 03/14/2013 - 18:20 | Link to Comment negative rates
negative rates's picture

We are "Warner Express", and we made our good living of going to war for our dry powder causes. You see, we were following the fountain of youth that promised everlasting life as long as you kept moving you would not die type thinking. And we sort of got hooked on it and needed alot money cause after a while, we did'nt feel so good and had to spend a ton of money on docs and such. So WE decided to tap the kids taxes so they would have a better chance at finding the fountain and we could stretch out our entitled time here in happy spirits. WE hope it didn't offend you, but even if it did, WE don't care, cause were old and sitin around waitin to die and give our money to the others WE care so much about.

Thu, 03/14/2013 - 17:14 | Link to Comment q99x2
q99x2's picture

Ya what's up with that? Why do they wait until everything is collapsing to boost the stock market. That doesn't seem right. Biderman has a nice opinion on the recent manipulated jobs report over at TrimTabs.

Thu, 03/14/2013 - 17:19 | Link to Comment effinayright
effinayright's picture

I wonder if a new edition of "Dow 30,000" by 2008---Why it's Different This Time" is in pre-publication..

 

Thu, 03/14/2013 - 17:39 | Link to Comment Bingfa
Bingfa's picture

The Matrix has been revealed for all to see.....

you can watch the freak show on the internet every night for free.

 

 

 

 

 

 

Thu, 03/14/2013 - 17:55 | Link to Comment Oldwood
Oldwood's picture

The only weather related issue that is effecting our economy is the foul wind that is blowing through it. It smells like a dead fish rotting from the head.

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