Guest Post: More Evidence That The Economic Peak Is In

Tyler Durden's picture

Submitted by Lance Roberts of Street Talk Live,

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Dr. Engali's picture

The economic peak happened in the late 60s. From the early 70s on we just borrowed it from the future.

otto skorzeny's picture

that was right about the time LBJ's "Great Society" got revved up

BKbroiler's picture

that was right about the time LBJ's "Great Society" got revved up

revisionist history at its best.  actually, it's when the tax rates on the top 1% got cut in half.  maybe that had something to do with it.  

W T Effington's picture

How would the government stealing less hurt the economy exactly?

AldousHuxley's picture

most of money, land, resources are already owned by governments. They just lease it to you, so they are not stealing, they are calling their assets back.

yeah, that house you "own"...you still pay real estate tax to government.

MeelionDollerBogus's picture

Such vicious, vile, atrocious unfalsehoods!

double plus ungood!

Missiondweller's picture

Because low tax rates kill business activity?

Only in Soviet economics books.

Harbanger's picture

It's hard to break out of that "class system" mentality BK.  I can understand that.  I know you were educated into a certain perspective, but know that most of your "teachers" and the institutions they worked for had an agenda, you need to understand this if you want to move towards the truth.

gwar5's picture

After the Jim Crowe democrats finally capitulated on Civil Rights 1963 (100 years late), LBJ said, regarding creation of the welfare state: "We gotta get the n*gger vote."

 

Under Jimmy Carter, the top 1% earners only paid 19% of all tax revenues because their the tax rate was >70%.

Today the top 1% pay 39% of all tax revenues because the top tax rate is less than half Carter's rate.

 

Tax revenues and tax rates are two different things. Dumbass.

Missiondweller's picture

Exactly. We were told we cold have Guns and Butter rather than Guns or Butter.

The same lies are perpetuated today that deficit spending is "investment" that must be made and is therefor entirely the responsible thing to do.

reader2010's picture

Nixon understood it before anyone else did, and opened up China to prolong our orgies a liitle longer. Now What?

RafterManFMJ's picture

Perhaps we could find new markets under the sea? Are ya ready kids?

AldousHuxley's picture

go work the chinese factory owners...that's what.

de3de8's picture

Yeah, and I said be careful what you wish for making 1.2 billion more consumers.

fonzannoon's picture

if the fed's "effectiveness" is gone there is nothing to stop the ensuing freefall.

FinalCollapse's picture

"Fed effectiveness" = Oxymoron.

Blast_Bug's picture

Look at the effectiveness of how "debt is good", and "more debt is more good":

http://www.treasurydirect.gov/kids/kids.htm

 

 

EmmittFitzhume's picture

The next CON has not materialized yet

Dr. Engali's picture

I think the fed has been very effective. They have held this thing together long enough for insiders to escape and the police state to get systems in place.

Go Tribe's picture

Are these G20 guys really sitting around a giant roulette table? That is amazing.

http://www.bloomberg.com/news/2013-04-18/g-20-draft-affirms-commitment-t...

 

MeelionDollerBogus's picture

red

RED!!!

I bet ALL gold of Cyprus on red! - Angela Merkel (danke again to Mrs Schniztel & Mr. Hans!)

Genios, genios, genios!!

buzzsaw99's picture

"They" don't give a crap about Main Street. "They" think its destruction is amusing.

kchrisc's picture

They will when their waiting their turn in front of the guillotine or masonry wall.        hujel

RaceToTheBottom's picture

On of the outcomes of a nice road is roadkill....  They view it as a cost of doing business.

Offthebeach's picture

Let them( Main Street ) eat Quantitative Easing, or IPads.

John Law Lives's picture

This has been a crazy week.

It is now being reported that a large fertilizer plant near Waco, TX has exploded tonight.  The following images on Twitter show an enormous blast:

https://twitter.com/search?q=west+tx

http://instagram.com/p/YOiNQYqEVu/#

https://twitter.com/Breaking911/status/324704479939293184/photo/1

Dr. No's picture

Krugman is pissing himself. This is massive stimulus.

piceridu's picture

The biggest fertilizer plant was in D.C. I thought?

ebworthen's picture

Dr. Copper says things are not well.

Gold and bonds dipping are way ahead of the cotton candy equities.

MFLTucson's picture

Gold is signaling a problem?  Hum, seems to me that the Jewish bankers see a problem, of their own making and now try to take Gold down for their own use (Comex explosion).  I see no problem with Bullion in fact; Silver Eagles have a $5 premium per ounce.  Ben Bernanke better find himself and his Jewish friends a place to hide because when this goes, people will be looking for that liar to hold him and his banking friends accountable! Now that’s a problem.

Mr. Hudson's picture

The tribe will exterminate or put in FEMA camps all those who are not members of the tribe.

MeelionDollerBogus's picture

the trans-russian Kahzar tribe.

The actual semites who are in Palestine will be exterminated. By the non-Jews pretending to be jews.

booboo's picture

Peak bullshit. Peak Hope and Change. Peak give a shit. The entire globe is a turd swirling down the crapper and we have a birds eye view, last man out the door please light a match so we can get the stench out of the room.

MeelionDollerBogus's picture

there is NEVER peak bullshit. I'm long on bullshit till the cows drop 'n' die, forget come home.

flow5's picture

I told you that March-April was the top last year. Economic prognostications for less than 1 year are infallible. The next inflection point is 5/1/2013. The bottom is Oct.

Its Only Rock N Roll's picture

There is a deflationary wind blowing...and its about to turn into quite a shit storm.  This weekend may become one of those weekends that I recall in 2008.  Full of speculation and angst, waiting to see what news Sunday evening will bring.  If we sell hard into close on Friday we know its here.  Just not sure "what" it is yet.  

world_debt_slave's picture

The end of the Musclecar was the end of America!

mess nonster's picture

The muscle car died in 1973. Oh sure, you could still buy a Monte Carlo, or a GTO, or a Camaro, or even a Malibu/Chevelle, but the new car was the Chevette- ugly, underpowered, and cheap, cheap, cheap. It's all about oil, my friends. 1973 was the first shock of an inevitable trend. I just bought a mule. Draft animals- the wave of the future.

RaceToTheBottom's picture

Two words:  Chevy Vega.....

 

Two more:  Llamas and Alpacas.  Mobility and yarn....

 

zuuma's picture

Ahhhh... the Vega.

Theoretically, a good car for the times. Small, light, decent gas mileage, fun to drive (with a stick). Better looking than a Pinto. Very attractive cousins: Monza, Sunbird, etc.

Alas, its defining feature was the engine: Overhead cam (good idea), aluminum engine block (good idea), unsleeved (bad idea), fitted with cast iron pistons & rings (abysmally bad idea).

Worn out in 20,000 miles.

But one man's catastrophe is another man's opportunity!  I bought a 1977 Monza Hatch w/ blown VEGA motor & 4-speed w/ 39,000 miles in minty condition for just $500 (in 1982).

Long story short, I sleeved & rebuilt the motor, added aluminum pistons, shaved the head, removed EGR, etc. DIY so only about $700 for all that.

Ran like a raped ape.  33mpg (Excellent for the era).  I put 140,000 more miles on it. Sold it o my sister. She put on another 20,000 & sold it to my dad. He put on another 15,000.

in 1992, he sold it to a neighbor kid w 230,000 miles on it - still running great (only 2nd clutch!!). Don't know what happened after that.

 

de3de8's picture

Raped ape with a broken leg.

gwar5's picture

Mopeds, bithcezz.

 

I was surprised the other week to find Europe already has non-hybrid cars that get 50-60-70 MPGs, but cannot get them approved for use in the USA. There is a long list of them. They are basically 4 cyl turbo gas/diesels, etc., nothing exotic.  

Speculation is that we cannot get them in USA because they get such good mileage/gal tax revenues would go down dramatically to the US Gov. If the enviro-wackos actually believe the planet needs saving then why are they not lobbying the shit out of Pelosi, Gore and Obama to fix this RIGHT NOW?

zuuma's picture

us gearheads have known about this for a long time. This isn't new.

Motor tech is one issue (EPA). but safety mandates (NHTSA) like: airbags, ABS, 5mph bumpers, etc would have to be added to those econoboxes

Fed safety crap = more $$$ and more weight --> less mpg

 

Also, gearheads create versions of these cars using the grey market.

You can't buy the efficient car here, but, in most cases, you CAN buy the front clip (half) of the car from a european or japanes wreck & ship it. Parts is parts, as they say.

Then, buy the inefficient, USA-spec version & swap everything under the hood. Fits right in.

I saw a nice 1999 Landcruiser with a Turbodiesel 6 swapped in.  26mpg instead of 10. Pretty cool.

de3de8's picture

Unless you live in an emissions state.

de3de8's picture

Debt Slave,
Only if they are not still in your stable.

tawse57's picture

Gold and other PMs going down is not just deflationary but a sign that QE is failing. Will we soon see a huge crash in global stock markets? If so, what does the Fed do then other than continue the printing madness?