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Paul Singer: The "Trapped, Harmful" Fed "Revels In The Role Of Atlas, Holding Up The World"

Tyler Durden's picture





 

"You don't need me to tell you that the developed countries, the US, Europe, Japan, are insolvent because of their long-term obligations."

That is merely one of the numerous punchlines uttered by Elliott Capital's Paul Singer, a long-term critic of Obama and failed socialist policies anywhere in the world, and of course, of the supreme enabler of destructive economic policies, Ben Bernanke and the Federal Reserve, during his interview with the WSJ's Gerald Baker at Heard on the Street Live earlier today.

Below are some other of Singer's musings which are largely in line for those readers who have been following our coverage of the hard-asset bull, and Fed fatalist's thoughts over the years.

On Confidence, the Future, and the Future of Confidence

"The future is something that is not something you can peer into from today. It will matter tremendously if confidence is lost. How can confidence be lost? Confidence can be lost in some combination of a rise in the price of commodities and gold, a consciousness of inflationary potential, a continued lack of accelerating growth, social unrest, and accelerating of QE. Forget tapering, I think tapering is off the table.

Considering the Japanese model: stable society, enough growth to keep people sort of happy, high savings, nobody really cares that they don't get a return on their savings: that's not necessarily where America and Europe are or will be."

Singer, who also noted that not once in 37 years has his hedge fund ever been able to predict future events, goes on to mock central bank "inflation targeting" principles saying a conversation focusing on specified inflationary thresholds is a conversation "that is possibly bereft of understanding of what happens when people may change their mind in a very significant way."

Singer observes that in discussing positioning for the future with investors in his fund, entities that cumulatively control "trillions in assets", nobody is positioned for inflation. His extrapolation is that the smallest change in behavior or perception - such as in May, June 2013 - when a slight change in perception that the "game of money printing was not accelerating" snowballed into a massive rate selloff, the result of which was that in September the Fed had to retract the very thing that it had leaked it would engage in, namely the Taper.

Crisis of fiat money

Next, Singer discusses about what is fundamentally at flaw - the current unsustainable monetary system - which itself is broken courtesy of what is now rampant, runaway currency debasement. The reason for the is that as a result of the terminal breakage of fiat's links with hard assets following Nixon's shuttering of the gold-dollar convertibility, "and after that it fell to central bankers, to the Fed, to maintain the demeanor, the policies, the words to give an impression of sobriety. And in the absence of any discipline in the numbers, because there is no discipline in the printing of the USD, that impression of sobriety is all that is standing between the holders of dollars and long-term holders of claims in dollars or any currency, and the oblivion of the purchasing power of their wealth."

Singer points out what most critics of the Fed are well aware of: that it was the Fed's low rate policy for a couple of years after the dot com bubble that resulted in the heads of the major financial institutions "kind of losing their heads in terms of their own balance sheets", the epic real estate and credit bubble and the great financial crisis of 2008; and fast forward 5 years later with the Fed once again keeping money sloshing around at effectively punitive rates (thanks to ZIRP and QE), and as a result "the conditions for a loss of confidence are here and now."

On Janet Yellen

Asked about where the head is taking the US, he notes that the "destination is not clear", and that if "somebody comes in who can exert the kind of disciple and sobriety that Paul Volcker did", then there is still some hope. Needless to say, the critic of easy money that is Paul Singer, does not think that Yellen is that person.

On what the Fed should (but certainly will not) do

I don't want to paint  a picture of clarity about the workout of this thing. Because once a society, a financial system gets in a position of the central bank being trapped, and being unwilling or frightened of stopping this merry go round, things get very dicey. They may move to stopping the money printing, markets collapse, then they panic, go the other way, so the reaction of stock markets, bond markets, interest rates, the economy, once you get to a place where the gears are grinding, is very uncertain.... We are in a period where confidence should be jostled and it could be lost at any time for a variety of reasons, how this works out nobody knows.

There is one right thing to do right now: after five years of 0% interest rates, after $3.5 trillion here and several trillion sprinkled around the globe, this Fed chairman, the next Fed chairman, should say: "We've done enough. It is up to the president and Congress to remove the impediments for growth and provide the catalysts for growth, and help this country grow. The country is capable of growing at a far faster rate than it has been. And I think that the Fed, which is the only central bank which has a dual mandate, has embraced this dual mandate in a very harmful way because they actually revel in the role of being Atlas, holding up the world by themselves.

Full clip of prepared remarks below:

* * *

Following the prepared remarks, Singer engaged in a debate panel, summarized by ValueWalk as follows. Singer says that the $50 trillion bond market is now basically controlled by central banks, with $15 trillion owned by the CBs. There is uncertainty as no one would know what would happen if this stopped regardless of how strong the economy is. Singer says QE ‘is gimmicky’ and an indirect solution, when a direct solution should be taken. Everyone has ideas on how to create growth. Very little of this has been pursued in the U.S., Europe or Japan.

Had these lists been pursued then you could say it’s time for QE’s grand finale. But because this was not done, recovery has been weak. Additionally, recovery has been unfair—only the rich have benefited.

Other panelists argue with Singer and ask—is the dual mandate wrong? Paul Singer says he is not a fan of the dual mandate but the issue is bigger. The Fed cannot/should not be solely responsible for economic growth. Through the Fed’s actions they have been an enabler of the problems in fiscal policy.

If you look at Fed minutes from 2004-2006, the Fed seems clueless about the financial system. Therefore, to rely on those people now is a bit foolish.

Sadly, the alternative to "those people" are those other people in Congress, whose stupidity has been enabled by the same people at the Fed, whose creeping take over of the world using monetary policy means has resulted in the peak impotence of the US fiscal apparatus and a Congress which is now, as is painfully evident, completely broken.

 


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Mon, 10/07/2013 - 23:17 | Link to Comment The Shootist
The Shootist's picture

Fuck you Benjamin Shalom and Calamity Janet.

Mon, 10/07/2013 - 23:29 | Link to Comment wee-weed up
wee-weed up's picture

 

 

Uh, Ben, you piece of excrement...

that's not the world you're trying to hold up on your shoulders...

it's Obama's lyin' boney ass!

Mon, 10/07/2013 - 23:35 | Link to Comment ACP
ACP's picture

Ben Bershankme is more like the Little Dutch Boy, saving his country from flood waters by sticking his finger in the Hillary.

Mon, 10/07/2013 - 23:43 | Link to Comment wee-weed up
wee-weed up's picture

Oh no!...

Now his finger will surely rot off!

Tue, 10/08/2013 - 00:06 | Link to Comment Anusocracy
Anusocracy's picture

Robbers used to hold up banks.

Now a bank holds up the world.

Tue, 10/08/2013 - 00:24 | Link to Comment Troll Magnet
Troll Magnet's picture

and that's how the joos have managed to overstay their welcome.

for thousands of years.

Tue, 10/08/2013 - 08:23 | Link to Comment Arius
Arius's picture

Summers was the ONLY one who had the balls, the will and understanding to say WE HAVE DONE ENOUGH and sent the ball to CON and POTUS ...

however, we did not want him .... we get what we deserve!

Tue, 10/08/2013 - 08:42 | Link to Comment vxpatel
vxpatel's picture

Are you joking? lawrence sumners is a greenspan clone...same nonsense....

Tue, 10/08/2013 - 11:03 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

Perhaps things are finally getting interesting...

Tue, 10/08/2013 - 01:05 | Link to Comment All Risk No Reward
All Risk No Reward's picture

The Federal Reserve isn't Atlas, it is a planetary financial toilet boil and Ben is simply delaying the final move into the the pipes in order for Biggest Finance Capital front corporations to loot trillions in cash and indebt society to even more inextinguishable debt.

It is fraud to bury people in debt that is impossible to pay, by definition.

Yet, the cock sure, arrogant ignorati that make up the chumptocracy vote for con people to impose this fraud upon them.

Pride and arrogance certainlny does come before a fall... or being purposefully flushed.

Tue, 10/08/2013 - 01:32 | Link to Comment eatthebanksters
eatthebanksters's picture

Washington is never going to change...they will keep kicking the can until the people get so pissed off they stand up and revolt. With our sheeple that is either never going to happen or its a long way off.  Those fuckers in the gubmint are going to destroy us slowly, painfully one day at a time.

Mon, 10/21/2013 - 01:28 | Link to Comment All Risk No Reward
All Risk No Reward's picture

The politicians will continue to do what they are doing until the cost / benefit ratio flips FOR THE BIGGEST FINANCE CAPITAL INTERESTS THAT FINANCE GOVERNMENT.

They only trillions in dollars and trillions in debt paper.  Anyone who thinks they will directly hyperinflate that away is deluded or deceived.

They may hyperinflate, but not until they've offloaded their trillions in money and trillions in debt to purchase reality.

Tue, 10/08/2013 - 09:11 | Link to Comment Toolshed
Toolshed's picture

Shockingly, I received an invitation to a local meeting to "get ready for Hillary". I nearly puked. That hideous rug eating bitch has less of a chance in 2016 than I do. However, I sure hope she spends many millions of her personal ill gotten gains in her futile attempt to be the first lesbian in the oval office.

Mon, 10/07/2013 - 23:49 | Link to Comment Thomas
Thomas's picture

It's not just Bernanke. It's the instution of the Fed. It has been flawed for many years.

Tue, 10/08/2013 - 02:27 | Link to Comment Ghordius
Ghordius's picture

perhaps. after all, it's quite weaselly to have two mandates. but don't forget that generally speaking, a central bank can only monetize - i.e. "clean up after" - what it's Treasury produces

Tue, 10/08/2013 - 01:48 | Link to Comment williambanzai7
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ATLAS MUGGED (FINAL)

Tue, 10/08/2013 - 02:32 | Link to Comment Ghordius
Ghordius's picture

does your Ben "Atlas" Bernanke really have to stick his fingers in our european faces, WB7? ;-)

I'm old enough to remember how Tricky Dick "shocked" us. it's your currency and our problem, remember?

your image somehow reinforces this funny recent notion that Ben is doing something for us. we would still vastly prefer to have a gold-convertible dollar, as originally promised

instead all we got is this exorbitant privilege setup

so the picture I'd have done is one with europe wearing a T-shirt that says: "we were promised a dollar "as good as gold". instead, all we got is this lousy T-shirt that says "not Uncle Sam's problem""

Tue, 10/08/2013 - 05:10 | Link to Comment asteroids
asteroids's picture

Did WB7 see Gravity last weekend? I see some similarities.

Tue, 10/08/2013 - 08:29 | Link to Comment StychoKiller
StychoKiller's picture

It's printers ALL the way down!

Tue, 10/08/2013 - 07:45 | Link to Comment Bangin7GramRocks
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This is the problem. The economy CAN'T survive without the stimulus(QE). This bullshit about cutting taxes and regulations and the American prosperity engine roars to life is simply laughable. Bernanke may be an asshole, but he knows more than we do. And he knows we are fucked!

Mon, 10/07/2013 - 23:23 | Link to Comment franzpick
franzpick's picture

In another version, Atlas shrugged.

Mon, 10/07/2013 - 23:21 | Link to Comment 0b1knob
0b1knob's picture

But what if one day Atlas Shrugged?

Tue, 10/08/2013 - 01:33 | Link to Comment eatthebanksters
eatthebanksters's picture

It needs to happen...the filth needs to be purged and cleansed naturally.

Tue, 10/08/2013 - 09:02 | Link to Comment Keyser
Keyser's picture

That swishing sound you hear is all of us being flushed down the porcelain convenience along with those that caused this debacle. No one will get out unscathed. 

 

Tue, 10/08/2013 - 18:07 | Link to Comment neidermeyer
neidermeyer's picture

Atlas is shrugging bigtime.. I know MANY people that are working at jobs WAY below their capabilities ,, starving the beast.. and now we have the ACA .. YIPPEE! We're all gonna die.

Mon, 10/07/2013 - 23:27 | Link to Comment Never One Roach
Never One Roach's picture

But the Bankers said TARP and the QEs have been very successful.

Tue, 10/08/2013 - 00:20 | Link to Comment John Law Lives
John Law Lives's picture

The banksters are laughing all the way to... the Hamptons... for hookers and blow.  Yes, TARP and QE has been very beneficial to them.

FUBAR.

Tue, 10/08/2013 - 09:02 | Link to Comment GMadScientist
GMadScientist's picture

Well at least I can rest content knowing they're headed for a life of life(possibly)long STDs and dopamine deficiency induced bilpolar disorder.

 

Mon, 10/07/2013 - 23:25 | Link to Comment Legolas
Legolas's picture

I was thinking this debt ceiling standoff was maybe more than just showmanship.  But, with all the talking heads out there, I'm increasingly of the opinion this may be the real deal.  We need to watching the rats closely in the next week.

 

http://usawatchdog.com/systems-are-breaking-in-treasury-bond-market-dr-j...

 

 


Tue, 10/08/2013 - 02:10 | Link to Comment Zadok
Zadok's picture

Good article. Like Jim Willie.
It may be the real deal because 'they' are choosing to make it so. There are no real limits, so create the diversionary distraction circus and bring it down. Please don't for a minute think this piddley side show is all there is. Get ready to have your mind bent with shock and awe saying 'they didn't really do that did they?'
Don't bother watching the ten year, it broke as an indicator about Sept. 6th as confirmed by JW. Have to look elsewhere for a genuine indicator.

Wishing you well!

http://www.eutimes.net/2013/10/pentagon-warns-to-expect-radical-change-i...

Tue, 10/08/2013 - 04:49 | Link to Comment zhandax
zhandax's picture

I would love to believe Boehner and/or his support has both a spine and a plan, but the last 50 years of history indicates that this, too, is a fantasy.

Tue, 10/08/2013 - 07:56 | Link to Comment Legolas
Legolas's picture

WTF ?  Wow, thanks for the link, Zadok.  Gotta go attend to my last minute items.  If he weren't such a narcissist, I wouldn't give any credence to the article.

Tue, 10/08/2013 - 08:34 | Link to Comment Legolas
Legolas's picture

It now makes sense that the Pentagon unfurloughed 400,000 employees.

It also now makes sense that the Republicans were called such awful names by the Democrat leaders (terrorists, anarchists, etc).

 

Mon, 10/07/2013 - 23:28 | Link to Comment erg
erg's picture

Atlas Shrugged doesn't refer to us, it refers to them. They wrote it.

They'll pull the plug and hideout in their high-tech bunkers until such time that we beg them to come back.

Implicitly, from that day forward we will service them.

Or so goes the plan.

Mon, 10/07/2013 - 23:31 | Link to Comment Fred Hayek
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Uh, Ayn Rand wrote Atlas Shrugged and the guys going "Galt" weren't a bunch of fascistic CEO's getting bailouts from an overbearing government.

Tue, 10/08/2013 - 00:03 | Link to Comment erg
erg's picture

You're right, the shruggers were the kick-ass industrialists and hard-core entrepeneurs. The grist of society. That which stirs the complete drink. They're tried of being shackled by the fecund stupidity and wheedling that forever surrounds them.

That's how the power elite see themselves - we're lucky to have whatever tech that they allow to filter through.

The shruggers see us as useless eaters. something to be extirpated.

It's not counter-culture...it's the playbook being laid out for all to see

Grind everything to a complete halt. Company B can't get nut C to service engine G...you get the picture.

Ultimate order out of ultimate chaos. They love force-multipliers.

Atlas Shrugged in a nutshell. Crash the world economy by destroying the American economy and after the dust settles install a technocratic world government.

Tue, 10/08/2013 - 00:57 | Link to Comment NidStyles
NidStyles's picture

Pretty sure the power elite see themselves as power brokers and politicians. Perhaps you should actually read the book before critiquing the philosophy it portrays?

 

You are one of the leeches, because you believe in the fantasy of power to keep those evil entrepreneurs in check, so they pay their "fair share".

 

The difference is that you have to hide the language and meaning behind clever worker struggle bullshit and use misdirection to convince everyone that you are for the little guy, when it's obvious that you just want to leech and continue your posh lifestyle at the expense of others. It's about time you "average" fascist Mericuns learned how the rest of the world lives within it's means.

 

Tue, 10/08/2013 - 02:33 | Link to Comment butler401
butler401's picture

Excellent point, ... I mean you can tell this guy has never a read book, he just uses talking points.

Hell they made a movie recently based on the book, called "Atlas Shrugged", its a 2part 2+ hour movie, ... and it basically does a +10 case of presenting the story.

You can download the movie for free from Piratebay.se, or where-ever.

The actuality is in the Book the "BAD GUYS", are the DEM&PUG party, ... pro politicans as we have now, and they all advocate 'redistribution' to the dumb-fucking public as we have now,... eventually they pass a law saying only one man can own one company, so all the EDISON's have to give their company's away to the 'political elite', gradually the 'brains' and 'managers' disappear, leaving the 'politcal elite' with hollow company's, that simply collapse, but they never blame themselves, they see all their failure as 'sabotage'

Of course the morons, .. and idiots, ...they're told everyday the reason factory's collapse is that their are shortages, ... eventually society collapses, but it all ends well, cuz the 'john galts' all disappear to their paradise, where they can tinker and invent and nobody fucks with them.

***

Lastly let it be said here, that 'elite' are every bit as moron's as the working class, its only the 'john galts' that see the light :)

This is not a new story, in DEMIAN by Herman Hesse, he does a great narrative about CAIN & ABEL, and that CAIN slew ABEL because ABEL was a MORON, and CAIN was a "JOHN GALT", of course the christians are taught to HATE CAIN, ... but the principal idea of HESSE is that CAIN is the John Galt, and I'm sure that Ayn Rand, got her ideas from the very german view of parasitic human nature, ugly and stupid people.

Tue, 10/08/2013 - 02:15 | Link to Comment butler401
butler401's picture

The 'power elites' are those who steal and redistribute with their elite click,

Most people are NOT john-galts, inventors and risk takers,

There are only 3 kinds of people,

1.) the parasites, the politicians

2.) The morons, who watch TV and cower in fear, and go to work ( the 95 % )

3.) The inventors and industrialists, who can go from idea to product, to manufacturing, ...

2 will always exist, ... they are the 95%, then the 1&3 out maneuver each other,...

But I agree with AynRand, there comes a time in a man's life, when he's SEE's that which the GUBMINT doesn't steal, they tax, ... at that point that man disappears, ... and kids here there are ton's of "JOHN GALT GULCHS", all over the world where us ex-inventors hide from the US Gubmint ... and life is good, ... one day you just wake up and say "why in the fuck do I even bother producing,... for the gubmint?" ..

Tue, 10/08/2013 - 01:43 | Link to Comment All Risk No Reward
All Risk No Reward's picture

Ayn Rand was a Rothschild squeeze.  She hooked up with the big money.

At best, she's controlled opposition so Greenspan could bullchit people into deregulating everything for the financial rapists to have their way with us and then Rand got tossed in the trash can as soon as her usefulness for manipulating the population was used up.

Tue, 10/08/2013 - 07:04 | Link to Comment NidStyles
NidStyles's picture

Sure she did, that's why she died broke and penniless..

Mon, 10/21/2013 - 01:25 | Link to Comment All Risk No Reward
All Risk No Reward's picture

Some more information for anyone interested in following up...

https://cassiopaea.org/forum/index.php?topic=10890.0

It isn't 100% like debt money fraud, but it is something to consider.

Remember, Greenspan used Rand's philosophy to give the mega banks freedom to commit fraud and "let the market work it out."

Not that Greenspan would necessarily represent Rand correctly.

 

 

Mon, 10/07/2013 - 23:28 | Link to Comment Fred Hayek
Fred Hayek's picture

I thought he played his scenes with Keanu Reeves in a bit too understated a fashion.

Mon, 10/07/2013 - 23:29 | Link to Comment Smartie37
Smartie37's picture

When doth power yield?

Only when confronted with greater power, with great consequence if unyielding.

Time to yield, or...............................

Watch for more unexpected resignations

Mon, 10/07/2013 - 23:38 | Link to Comment suteibu
suteibu's picture

All of these warnings from Singer, Rogers, Faber, Schiff, etc., is a bit like Custer complaining that the Redskins ™ were attacking them in too great a force.  At the end of the day, complaining does not change the outcome.

The policies coming from Washington and Wall Street will change when those people decide to change them or someone reenacts the banker/politician version of "Who's Killing the Great Chefs of Europe?' and not one minute before.  Anyone who expects differently is simply fooling themselves.

Mon, 10/07/2013 - 23:47 | Link to Comment The Shootist
The Shootist's picture

Then again, fiat currencies have undone many a regime. Granted, we are now in uncharted waters with universal fiat and universal raping banks.

Mon, 10/07/2013 - 23:51 | Link to Comment suteibu
suteibu's picture

True enough.  But do you believe that bankers will not remain on the top of the food chain if the dollar fails?  It is their game, their rules, their money.  Their home field advantage is too great to overcome.  The only way to win is...

Tue, 10/08/2013 - 00:59 | Link to Comment NidStyles
NidStyles's picture

Their game ends when the paper ends. Then it's who has the ammo and the knowledge of how to feed themselves. Back to nature as it were.

Tue, 10/08/2013 - 08:27 | Link to Comment Arius
Arius's picture

that is just scary talk ... why cant they come up with a new international monetary system and start over?

Mon, 10/07/2013 - 23:51 | Link to Comment brettd
brettd's picture

Maybe. Maybe not. 

What if 20% of Taxpayers went on tax strike?

(that's only 10% of the USA population)

Nobody dies, but things would change!

Mon, 10/07/2013 - 23:58 | Link to Comment suteibu
suteibu's picture

I agree with the idea, but I doubt you can find .2% of the population willing to put their families' comfort at risk to buck the IRS. 

Tue, 10/08/2013 - 00:07 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

Q:  What if 20% of Taxpayers went on tax strike?

 

A:  The IRS would confiscate *all* of their assets.

 

> "Nobody dies, ..."

 

... as long as nobody tries to stop the IRS from confiscating *all* of their assets.

 

> "... but things would change!"

 

Certainly!

Tue, 10/08/2013 - 00:58 | Link to Comment NidStyles
NidStyles's picture

What assets? Have you seen the savings rate in the US?

Tue, 10/08/2013 - 02:10 | Link to Comment butler401
butler401's picture

Right,

But carry it one step farther,

The IRS and all agency's operate on the 2,000 year chinese monkey program,

Take a monkey out in front of the other monkeys and slit its throat, the other monkeys will cower in fear for a long-long time, shit the sight of blood will make them faint.

So it doesn't take much for the IRS to keep the monkey's in line,

The real problem with ZH and most HUMANS' in the USA, is they don't understand that their US GUBMINT just see's them as stupid fucking midget monkeys.

***

Case in point the MURDER of Miriam Carey the other day in DC, that was a case in POINT, COP say's STOP, you stop, or you get your face blown off, and we take your child.

Now most folks that get stopped by a COP, ... will cower in fear.

Tue, 10/08/2013 - 02:15 | Link to Comment Zadok
Zadok's picture

I think that is muppet monkeys to you sir.

We bow before the the exalted excrement behind the vaunted ass napkin.

Please do try to keep your vocabulary up to date.

Now, carry on sir because that really was a good one.

Tue, 10/08/2013 - 07:08 | Link to Comment NidStyles
NidStyles's picture

It's only a matter of time before people start shooting back. As unfortunate as it si to say, there's nothing anyone can do about that.

Tue, 10/08/2013 - 11:03 | Link to Comment Zadok
Zadok's picture

Stop abusing people and the motive and the necessity goes away just like that. Unfortunately that is unlikely because the theft that is an integral part of the abuse is not going to stop unless we make them stop. Which pretty much brings us full circle again. :-(

Tue, 10/08/2013 - 02:07 | Link to Comment butler401
butler401's picture

Singer, Rogers, Faber are all flim-flam men in KMART suits, ... selling something ( usually$1000/year newsletters ) to morons,...

Nobody knows tomorrow, ... we know that, but most of know that which we have today is a damn good estimate that we will have tomorrow, given today the USA is the 500LB gorilla, and all else is 1LB toy monkeys its a good bet the USD will continue to be the elephant at the bank.

Mon, 10/07/2013 - 23:38 | Link to Comment Peter Pan
Peter Pan's picture

The real Atlas is the public and the taxpayer and the generations to come upon whom this odious debt has been foisted without any means of escape.

Bernanke is nothing more than Dr Frankenstein who in an effort to breathe life into his patient has instead created a monster.

Tue, 10/08/2013 - 00:51 | Link to Comment Notarocketscientist
Notarocketscientist's picture

The public is primarily a bunch of fat fucks who are mesmerized by their TV remote controls

Tue, 10/08/2013 - 02:05 | Link to Comment butler401
butler401's picture

What's a MOTHER to do,...

Even if you divy up the loot equally, 2-3% of the monkeys will have it all in 1-2 generations, this is a constant of human nature,...

It's almost biblical, the allegory about the brothers who chose wisdom or gold, .. for the majority of men will always choose the easy today path, and the John Galts will always seek education and build company's, and then in 1-2 generations you have slave's and master's.

I guess you can take the 2-3% out when their born and hit them in the head with a hammer, and then everyone will be stupid, but that doesn't work cuz every society needs ALPHA's, for war, ... and planning, ... you know what I mean.

Mon, 10/07/2013 - 23:46 | Link to Comment dfwpike
dfwpike's picture

Who is John Galt?

Tue, 10/08/2013 - 01:47 | Link to Comment All Risk No Reward
All Risk No Reward's picture

A figment of a Rothschild sweetie's imagination promoted to make the producer class think they have some kind of power when the financial dictators, one of whom she dated, hold ALL the cards.

Go Gault all you want, the mega financiers have a police state and monitor everything you do.

They might even simply assassinate you and your children under the NDAA.

Rand did not portray that which is real.  She slept with the arch enemy and found a way to make cash selling a fantasy to all the people who are uber productive or simply think they are uber productive.

Tue, 10/08/2013 - 08:34 | Link to Comment jack stephan
Mon, 10/07/2013 - 23:54 | Link to Comment pragmatic hobo
pragmatic hobo's picture

it's simple ... federal reserve does not believe in free market capitalism ...

Tue, 10/08/2013 - 00:26 | Link to Comment Aquarius
Aquarius's picture

Somebody posted recently on ZeroHedge that what we are experiencing is gang warfare (my words).

That "somebody" was/ is right.

Collectivism and statism.

Gangs playing out the same feudal racketeeering and deceptions that have been in vogue for some ~5,000 years.

The FedRes is a gang; economists, lawyers, accountants, etc., are all gangs. And, they are not smarter than us; they only have the guns and bluff; All are cowards and blowhards; easily disenfranchised

Governance today is nothing but "gang warfare"

Could we, would we live and co-exist without gangs of politiciancs, bureaucrats, warmongering generals, drug cartels, "intelligence
 (sic)" agencies, etc.?

Yes we would and we would be far better off for it,

Possible? Of course; small problem and that is to where we are trending today. The hysteria; the #NSA, TPP and all the other gangsters and control freaks are merely afraid that soon it is they that will be out, on the streets, and not us.

They will finish themselves; they are now eating their own; let them. Cast your gaze to the windward as there is a whole new world to discover sans the ghouls that we have allowed to impose on us, their deceits, their murders, their lies, incarcerations, insults and thieving. 

As the poster says above: "Who is John Galt?"

Ho hum

Tue, 10/08/2013 - 01:29 | Link to Comment Kprime
Kprime's picture

Getting rid of Central Governments

 

The Rule of Law without the State

 

http://mises.org/daily/2701

 

Highlights of the Xeer

There is time in this short talk to give you only some of the highlights of the Xeer. First, law and, consequently, crime are defined in terms of property rights. The law is compensatory rather than punitive. Because property right requires compensation, rather than punishment, there is no imprisonment, and fines are rare. Such fines as might be imposed seldom exceed the amount of compensation and are not payable to any court or government, but directly to the victim. A fine might be in order when, for example, the killing of a camel was deliberate and premeditated, in which case the victim receives not one but two camels.

 

Fines are used in another interesting way. It is expected that a prominent public figure such as a religious or political dignitary or a policeman or a judge should lead an exemplary life. If he violates the law, he pays double what would be required of an ordinary person. Also, it should be noted, since the law and crime are defined in terms of property rights, the Xeer is unequivocal in its opposition to any form of taxation.

 

A third point about the Xeer is that there is no monopoly of police or judicial services. Anyone is free to serve in those capacities as long as he is not at the same time a religious or political dignitary, since that would compromise the sharp separation of law, politics, and religion. Also, anyone performing in such a role is subject to the same laws as anyone else — and more so: if he violates the law, he must pay heavier damages or fines than would apply to anyone else. Public figures are expected to show exemplary conduct.

 

Fourth, there is no victimless crime. Only a victim or his family can initiate a court action. Where there is no victim to call a court into being, no court can form. No court can investigate on its own initiative any evidence of alleged misconduct.

 

Tue, 10/08/2013 - 02:02 | Link to Comment butler401
butler401's picture

It's not like this is a new idea, but let's look at the facts, and the facts have been known for 4,000+ years,

The the majority of HUMANS are morons[primates], ... that if you give 100 men[primates] a bunch of bananas, and wait a year, about 2-3% of the remaining monkey's have all the LOOT.

Same with booze, give a unlimited alcohol to rats' and 5% don't drink, 90% drink moderate, and 5% become brain-dead and get liver damage.

But back to humans, ... +95% are wired to not think about 'tomorrow', ... and thus the mercantilist's (2-3%) end up with all the loot every time in 2-3 generations.

So the US courts for a long time have played 're-distribution' to alleviate human nature, problem is like "atlas shrugged" is the re-distribution class just create their own inner-group of parasites, that rob the 'john galts', and then pretty soon, that civilization collapses,

This is the story of all mercantile economy's in world history,

I for one say, "Just go find a nice place to live, and live", you'll never save the world, and there is always at any given time and a bad time and place to be,

Today the USA is 1938 Nazi Germany, only a god damn fucking MORON would be in the USA today.

[ To learn more about Human Nature read PT-Barnum "MONEY", or read Richest Man in Babylon ]

Tue, 10/08/2013 - 10:04 | Link to Comment TheSkipper1967
TheSkipper1967's picture

I am John Galt. 

Tue, 10/08/2013 - 00:30 | Link to Comment ebworthen
ebworthen's picture

The FED is holding up nothing other than supporting the hegemony of central banks and gutless politicians wielding a cudgel over the head of every Mother and Father, every Daughter and Son, every Granddaughter and Grandson in the U.S.S.A.

A cudgel of fake prosperity, of lies, of devalued currency, of debased savings, of a bloody generational beating and raping for those decent citizens who worked hard and saved and paid their bills.

FUCK THE FED TO HELL!!!

Hang the fuckers!!!

Hang them all!!!

Tue, 10/08/2013 - 02:37 | Link to Comment Zadok
Zadok's picture

Hang 'em high!

Oh, wait. That might not be original...

Tue, 10/08/2013 - 00:32 | Link to Comment diesheepledie
diesheepledie's picture

Would this AIDs infected cancerous old whore of a country please DIE ALREADY?! And take those Jew fucks at the FR to Hell with you.

Tue, 10/08/2013 - 03:16 | Link to Comment bunnyswanson
bunnyswanson's picture

Why kill the country when it is only the parasites which need expelled?  Ben Bernanke is a dual citizen to Israel.  That should be enough to ban him from US soil.  Who in their right mind would put the head of a country's economy in the hands of a person who has a CONFLICT OF INTEREST?  Only a fool.

Get the Jewish boys out of the game.  Do whatever is required to KEEP THEM OUT OF THE GAME.  Replace them with economists who have the best interests of America and her people (Mr. Black, Ms. Warren, Max Kaiser, the Tylers).  Welll, just about anyone but the Boys From Israel.

Tue, 10/08/2013 - 00:34 | Link to Comment Aquarius
Aquarius's picture

Cast your eyes here for a moment; and consider the tell:

http://www.leap2020.eu/Excerpt-GEAB-60-December-2011-The-future-of-the-USA-2012-2016-An-insolvent-and-ungovernable-United-States_a14760.html

The USA is in collapse and hoping for the "One". (They thought is was to be Obama but they got What-me-worry Bush 2 instead)

Time to look elsewhere.

Ho hum

Tue, 10/08/2013 - 00:57 | Link to Comment kurt
kurt's picture

This guy puts the Con in Economics. He's talking his book. Why wouldn't he?

Tue, 10/08/2013 - 01:08 | Link to Comment lasvegaspersona
lasvegaspersona's picture

How do these guys who can see the problem come up with..."Congress should solve it"?

Congress can no more dig us out of this hole than the fed can.....HOW???Cut spending?? and worsen the depression? and cut benefits? Toss the poor off welfare when there are no jobs even for the willing? Cut the military?...and worsen the economy and suddenly toss guys out of the service? I agree some cuts are needed ...but...ain't going to happen

Nothing will happen because this thing must be allowed to die a natural death (the dollar).

All these smart guys see the problem but must pretend that there is a way out...it is laughable and arrogant. The Fed is arrogant, Congress is arrogant as is the President.

Not one person in power of stature is willing to tell the American people the mathematical truth. I guess if they did the dollar would die then and they would be blamed.

So we ust listen to those of lesser rank and out of power, they can tell the truth.

Tue, 10/08/2013 - 01:07 | Link to Comment threeputting
threeputting's picture

I like this guy.

Tue, 10/08/2013 - 01:24 | Link to Comment Seer
Seer's picture

"It is up to the president and Congress to remove the impediments for growth and provide the catalysts for growth, and help this country grow. The country is capable of growing at a far faster rate than it has been."

How much growth Mr. Singer?  And for HOW LONG?

This is a FINITE planet.  Perpetual growth is IMPOSSIBLE!

These people are only looking for an injection so they can profit and run.  Everything is a bubble if it's based on the need to grow!

One can make all kinds of shit sound good if you FAIL to question the PREMISE!

Tue, 10/08/2013 - 01:28 | Link to Comment yogibear
yogibear's picture

Bernanke,Yellen, Evans, Dudley, Rosengren, Bullard, Fisher, your setting youself up for an epic fail

You'll print more when once the below occurs. Epic fail fed members is coming.... tick-tick-tick....

"The conditions for loss of confidence is here and now."

"The Fed has been getting itself in deeper and deeper"

Tue, 10/08/2013 - 01:47 | Link to Comment bankonzhongguo
bankonzhongguo's picture

This is all fascinating stuff and frankly we have been crooning on these issues FOR YEARS, yet the apocalypse never arises.

I think the take away - the intent of all these machinations is to collapse the current unsustainable bankrupt system.  And it is bankrupt in so many ways.

There is no magic formula here.  At some point everything will be oversold, but the debt will be unpayable.  China is NOT going to be there to be a replacement reserve currency simply based upon their anti-barbarian political culture.  Nobody is going to ever wander into the local gas-n-sip at 2AM and buy their Slim Jims with Yuan.

The grand game is to create a global Fed for the next 100 years - unaccountable to any people or concept of democracy.  Taking all the lessons learned, the foremost is make that central bank the issuer of the world's currency to "stabilize trade."  The SDR is already here.  It is only a matter of killing the Dollar (it will still exist), but making it a shadow currency. Maybe 10 more years.

Tue, 10/08/2013 - 01:52 | Link to Comment butler401
butler401's picture

It defies logic and physics, ... but lets play moron for a moment and actually worship this system.

Here we have a system, that is a parasite on the world, and gets free food and energy sent to the parasitic nation in trade for toilet paper,

How long can it last? So long as the those with the GUN ( USA NUKE ) pointed to their face tremble in fear,

How long can it last?? Nobody really fucking knows, ... nobody else seems willing to SPEND what the USA does on GUN's ( Nukes and gold collar MIL pensions ),... I suspect that like ROME eventually the masses will become jealous of the PRAETORIAN's, but now we have TV to keep the masses entertained, stay home and watch the coliseum ... It's a brilliant system.

"COLLAPSE", for god's sake the MIL has a back-up plan for every possible scenario, ... after all if you retire with a PENSION that nobody else has on earth, your going to make GOD-DAMN sure that your system is a perpetual robbing machine, ... so physics say's this is not possible,... but its clearly possible so long as their is OIL to rob and food to steal.

Tue, 10/08/2013 - 02:18 | Link to Comment q99x2
q99x2's picture

Fill the FED with that crap and let them fail.

Good riddance.

Tue, 10/08/2013 - 02:51 | Link to Comment Ham-bone
Ham-bone's picture

To say the CB's own $15 T of a $50 T bond market misses the big picture.  It's not simply how much they own but where on the curve they own and where their purchases can have the greatest impact for the least buck.

Take the Fed - they own $2.2 T of 1yr and longer Bills / Bonds out of a total Public Outstanding Debt total of $3 T ($4 T if add in TIPS).  Also note the Fed owns virtually nothing of the less than 1yr Note market...the Public Outstanding debt Note market is over $7 T (Intragov total debt is an additional $5 T but lets assume this will be rolled w/o instance).  So the Fed owns over half and will own up to it's 70% mandated limit of all 1yr and up CUSIPS likely within a year (dependent of continued QE and Treasury issuance pace).  So, Fed owns all RISK and means Federal Government can never have a PIIGS like interest rate spike...unless that 30% starts to sell off but come now, the Fed can either change their rules to allow 80%, 90%, WHATEVER it takes. 

So then the only thing left is that $7 T Note market but if something goes wrong the Fed will need to buy likely all $7 T and likely within a year to avoid a catacylsmic interest rate spike (remember that of the $5 T foreign owned Treasuries, they are nearly all Notes now...Hello China, Russia, and other best friends)...that is the doubling moment of the Fed's balance sheet from likely near $5 T to $10+ T within a years time (likely in 2015?).  I think that is also known as HYPERINFLATION or Hyper-Fed-balance-sheet-flation???

This is too simple to be right...ie, either I'm very stupid and I don't get it or I'm very smart and that's why I don't get it???  Or maybe nobody will care Fed owns all Bills / Bonds / TIPS and they'll keep on buying Notes anyway regardless of the Fed monetizing the entire rest of the Treasury market???

Thoughts???

Tue, 10/08/2013 - 02:24 | Link to Comment disabledvet
disabledvet's picture

again..."they're coming out of the woodwork now." don't watch television anymore but I'd still sleep with the B anytime. don't like the plastic surgery but we're all being made to be feel ugly inside now so if you're in that line of work one of rules I imagine is you can't turn their television off while broadcasting. I sure think POTUS should. He needs to see down with the missus and be seen reading a book and her too while sitting in a wicker chairs and pondering "how to connect to it all? how to connect to each other?" in other words...DO NOTHING. better yet...SAY NOTHING. the USA is not the one in trouble here. it's all the rest and their "free money game." did great without predicting or even looking into the future? aren't you even curious? and of course the article states in entirety about the unsusastainable path we're on. this is about the unsustainable path WALL STREET is on. they're a MADNESS machine and they need to start talking sense into all these clowns who think the best place for the company slush fund is overseas. no. the best place for the company slush is right inside you're own company surrounded by people who you can fire at anytime but understand that. the only "growth" that gets generated is what is gotten internally...and that's it. there's no "secret" ...in fact just the opposite...an agreed upon plan well executed. the Government did what it had to do back in 2008. it doing what it has to do right now. if the only solution is World War I redux then we all lose. but if there's a feeling we all have something to contribute here...something we should "give" to make the various benefit states continue the Mighty Payout...by all means have at it. the standard had always been "there's no solution don't even bother talking." and I agree..."yes Dimitri. We need to talk about the bomb. that's right Dimitri...the ATOMIC bomb" is never a bad place to start.

Tue, 10/08/2013 - 02:29 | Link to Comment boeing747
boeing747's picture

Why waste 20 minutes here? Only needs one sentence 'Fed provides real haircut, not real growth'.

 

Tue, 10/08/2013 - 02:31 | Link to Comment no more banksters
no more banksters's picture

"The spiraling debt of the Federal Government to "Federal" Reserve, is due to repeated quantitative easing policies, i.e. primarily "printing" new money, supposedly made to stimulate the economy. Instead, however, the money went solely to bailout biggest banks, some of which participate in the "Federal" Reserve! Which means that, money returned to the banks through a circle, while uploaded US government with more debt, which will be passed on to future generations! Unanswered questions remain also, about the case on the basis of which, the "Federal" Reserve secretly supplied through the "back door" with more than $ 9 trillion, various financial institutions with questionable balance sheets during the financial crisis in the US. Nobody seems to deal with this issue today."

http://failedevolution.blogspot.gr/2013/10/new-deal-vs-obamacare-one-rea...

Tue, 10/08/2013 - 02:38 | Link to Comment Ham-bone
Ham-bone's picture

Nobody seems to deal with this issue today

Nobody deals with any issue today...all issues are always to be dealt with tomorrow or next year or during the next "pro cyclical" period.  Or (collectively)- Nobody deals with any issue ever if they can choose not to.

Tue, 10/08/2013 - 02:50 | Link to Comment Zadok
Zadok's picture

Those on the screwed side of things, and are the decision makers in their own realm HAVE created an entire monetary structure through subterfuge to keep it from being decimated by the sledgehammer of the money changers, the occupied corp of USA.
It is almost ready for liftoff. It will be sudden and shocking because it has to be to make it work. The money changers will slither to the new money flow but leave The Corporation isolated and self abused in a goods/capability short and bloody fenced in, pain fest, at least that is the plan.
Time is now VERY short for The Corporation and unfortunate souls who live within its abusive boundaries.

Tue, 10/08/2013 - 03:53 | Link to Comment The Heart
The Heart's picture

Oza boy aye...sum body isa gonna be in big doo-doo if this gets rolling.

Ya gotta hand it to this woman for her bravery in a time of deceit.:

 

Black American citizens file “Articles of Impeachment” against Obama

 

The National Black Republican Association (NBRA) based in Sarasota, FL, headed by Chairman Frances Rice, filed Articles of Impeachment against President Barack Obama with the following language:

We, black American citizens, in order to free ourselves and our fellow citizens from governmental tyranny, do herewith submit these Articles of Impeachment to Congress for the removal of President Barack H. Obama, aka, Barry Soetoro, from office for his attack on liberty and commission of egregious acts of despotism that constitute high crimes and misdemeanors.

On July 4, 1776, the founders of our nation declared their independence from governmental tyranny and reaffirmed their faith in independence with the ratification of the Bill of Rights in 1791.  Asserting their right to break free from the tyranny of a nation that denied them the civil liberties that are our birthright, the founders declared:

“When a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”  -  Declaration of Independence, July 4, 1776.

THE IMPEACHMENT POWER

Article II, Section IV of the United States Constitution provides: “The President, Vice President and all civil Officers of the United States, shall be removed from Office on Impeachment for, and Conviction of, Treason, Bribery, or other high Crimes and Misdemeanors.”

THE ARTICLES OF IMPEACHMENT

In his conduct of the office of President of the United States, Barack H. Obama, aka Barry Soetoro, personally and through his subordinates and agents, in violation or disregard of the constitutional rights of citizens and in violation of his constitutional duty to take care that the laws be faithfully executed, has prevented, obstructed, and impeded the administration of justice, in that:

ARTICLE 1

He has covered up, delayed, impeded and obstructed the investigation of the Benghazi Battle.

Specific conduct includes: (1) failing to adequately secure the US Consulate and the CIA annex in Benghazi; (2) failing to send a response team to rescue embattled US citizens in Benghazi; (3) lying to the American people about why the US Consulate and the CIA annex were attacked in Benghazi; and (3) hiding from the media and congressional investigators the Central Intelligence Agency personnel and other wounded US citizens who were on the ground in Benghazi by scattering them throughout the United States, forcing them to adopt new identities and subjecting them to monthly polygraph tests.

Benghazi Battle elements that are under investigation:

On September 11, 2012, the anniversary of the September 11, 2001, the US Consulate and the CIA annex in Benghazi, Libya was targeted in a premeditated, preplanned attack launched without warning by Islamist militants.

Footage of the attack broadcast in real time showed armed men attacking the consulate with rocket-propelled grenades, hand grenades, assault rifles, 14.5 mm anti-aircraft machine guns, truck mounted artillery, diesel canisters, and mortars.  It was not an act of savage mob violence, nor a spontaneous protest in response to an anti-Islamic video on YouTube.

In that attack, four American citizens were killed:  US Ambassador J. Christopher Stevens; Information Officer Sean Smith; and two embassy security personnel, Glen Doherty and Tyrone Woods, both former Navy SEALs.  Ambassador Stevens is the first U.S. ambassador killed in an attack since Adolph Dubs was killed in 1979.

ARTICLE 2

He has disclosed secret grand jury material by exposing the existence of a sealed indictment of one of the Benghazi attackers in violation of  Rule 6(e) of the Federal Rules of Criminal Procedure that clearly states: “… no person may disclose the indictment’s existence except as necessary to issue or execute a warrant or summons.’’

ARTICLE 3

He has authorized and permitted the Bureau of Alcohol, Tobacco, Firearms and Explosives, a division of the Justice Department, to conduct Operation Fast and Furious, wherein guns were sold to Mexican drug trafficking organizations that were used to kill innocent Mexican civilians and two rifles sold to a smuggler in January 2010 ended up at the scene of the murder of U.S. Border Patrol Agent Brian Terry in December 2010.

ARTICLE 4

He has authorized and permitted confidential income tax returns information from the Internal Revenue Service to be provided to unauthorized individuals, organizations and agencies.

ARTICLE 5

He has caused investigations and audits to be initiated or conducted by the Internal Revenue Service in a discriminatory manner, including harassment and intimidation of conservative, evangelical and Tea Party groups applying for non-profit status between 2010 and 2012.

Elements of this illegal conduct include the facts that: (1) the head of the Internal Revenue Service tax-exempt organization division, Lois Lerner, admitted during a telephonic press event that illegal targeting occurred, then invoked her Fifth Amendment right and refused to answer questions before Congress about the targeting out of fear of self-incrimination; (2) two other career Internal Revenue Service employees stated that they acted at the behest of superiors in Washington — Carter Hull, a retired Internal Revenue Service Attorney and Elizabeth Hofacre, an employee of the Cincinnati IRS office which oversaw tax-exempt applications; and (3) Carter Hull stated that he was directed to forward the targeted applications to, among others, one of only two political appointees in the Internal Revenue Service Chief Counsel William Wilkins.

ARTICLE 6

He has (1) authorized and permitted the National Security Agency to conduct or continue electronic surveillance of over 300 million average Americans; (2) given access to National Security Agency surveillance data to other intelligence units within the Drug Enforcement Administration, the Secret Service, the Department of Defense and the Department of Homeland Security in violation of the law; and (3) conducted the surveillance of average Americans unconstrained by Congress, the United Supreme Court or the US Foreign Intelligence Surveillance Court which has, to this date, functioned as a rubber stamp, having approved every request made of it in 2012 and rejecting only two of the 8,591 requests submitted between 2008 and 2012.

ARTICLE 7

He has authorized and permitted the Department of Justice to wiretap and secretly obtain two months of telephone and e-mail records of Fox News Reporter James Rosen and over one hundred Associated Press journalists.

ARTICLE 8

He has thwarted Congress by (1) failing to enforce all or parts of laws duly enacted by Congress, including the Defense of Marriage Act, the No Child Left Behind Act, and the Affordable Care Act; and (2) after Congress refused to pass his Dream Act, unilaterally issuing an executive order directing immigration officers to no longer deport an entire class of illegal immigrants who came here as children, regardless of individual circumstances, and to give them work-authorization permits.

ARTICLE 9

He has violated the Constitution when, on January 4, 2012, (1)  he bypassed the U. S. Senate to appoint three members of the National Labor Relations Board, actions that were ruled unconstitutional by the United States Court of Appeals for the Fourth Circuit which affirmed previous decisions by the Court of Appeal for the D.C. Circuit and the Third Circuit; and (2)  he bypassed the U. S. Senate to appoint Richard Cordray to head the Consumer Financial Protection Bureau.

ARTICLE 10

He has intimidated whistleblowers and brought twice as many prosecutions against whistleblowers as all prior presidents combined.  Egregiously, while refusing to prosecute anyone for actual torture, he prosecuted former Central Intelligence Agency employee John Kiriakou for disclosing the torture program.

Wherefore Barack H. Obama, aka Barry Soetoro, by such conduct, warrants impeachment and trial, and removal from office.

The Articles of Impeachment have been sent to President Obama, Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Speaker Boehner, House Minority Leader Pelosi and the full Judiciary Committee of the US House of Representatives for action.

 

As reported from this link.:

http://watchdogwire.com/florida/2013/08/13/black-american-citizens-file-...

 

.

 

 

Tue, 10/08/2013 - 08:34 | Link to Comment Zadok
Zadok's picture

Great news and link!

Fantastic! Definitely grounds for IRS audit and if that doesn't clear things up, a midnight visit to the author and supporters.

I sincerely hope they are wise and have already initiated appropriate security considerations.

Go sista go! Godspeed!

Tue, 10/08/2013 - 04:40 | Link to Comment Gumbum
Gumbum's picture

"The country is capable of growing at a far faster rate than it has been."

 

Perhaps, but do we really want to keep growing? At what point are we big enough? At what point do we consume enough?

We have gobbled up the planets rescources, created huge dead zones and left nothing for the generations that follows.

Growth is about to be the death of all of us...the economy and the real world is NOT two seperate things.

 

We don't need growth...we need to reform the economy so it does not require growth to sustain it self.

End the FED, have the government issue debt free money.

End fractional reserve lending.

Tue, 10/08/2013 - 07:05 | Link to Comment involuntarilybirthed
involuntarilybirthed's picture

Power and the Spotlight.  The Fed was placed on the marque as the staring actor and as is human nature gloried in the spotlight.  Power ensued.  Then with power, the spotlight and control of people's money they moved unfettered and we let them.  Now a monster with no control or overwatch they hover over us like a threating alien force. 

Tue, 10/08/2013 - 07:12 | Link to Comment involuntarilybirthed
involuntarilybirthed's picture

We, as a people, must stop monsters from growing in our country.  We allowed a feral government, NSA, Homeland Security, the Federal Reserve, TBTF banks.  We must regain control of our future or suffer, if it's not too late, the consequences.  I for one am sickly tired of it.

Tue, 10/08/2013 - 07:12 | Link to Comment El_Puerco
El_Puerco's picture

Just watch this and walk away!...My opinion..

Link: { http://bit.ly/17az4S0 }..

 

Time index 12:36 start the show...

 

:P

Tue, 10/08/2013 - 10:16 | Link to Comment Hohum
Hohum's picture

Note to Mr. Singer:  The US stopped "growing" a long time ago, at least if you compare the GDP to anything else.  The world has recently followed.

If he just means more GDP, then never mind.  The big question is, how do you make the machines pay for themselves and avoid all the borrowing?

Tue, 10/08/2013 - 10:35 | Link to Comment Zombie_Economics
Zombie_Economics's picture

HA!  Atlas holding up the world.  More like Baal destroying the world.  Maybe even Kronos eating his children, since we're viewed and treated like children.  Never Atlas though.  What a bunch of condescending bullshit.  These thieving bastards pick our pockets for a century and get called Atlas, fuck.  These assholes could even be described as Hades, but that would be an insult to Hades, since at least he served a fucking purpose.  These worthless, non-producing, self absorbed, arrogant, full of hubris, thieving, cheating, lying whores are at best a detriment to all life on the planet and more realistically, a plague of locusts varaciously consuming every resource in their path with an insatiable appetite for the destruction of everything within their sight.  They are the virus of our species.

Tue, 10/08/2013 - 12:21 | Link to Comment monad
monad's picture

Consider this. Remember, its all propaganda. 

Tue, 10/08/2013 - 11:11 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

I like to go DEEPER with my questions. Such as...

 

What is Government? Is it really governance or just a trick?

What is money?

What is a Country? I look around and, first and foremost, I see individual human beings. Is there something else I'm really supposed to be seeing besides a human being with a human brain? Sure we're all unique and have our differences, but we're all human beings living with/in the human condition.

What is "Economic Growth"? It seems to me that many people have some kind of belief that only Government can determine whether or not we have it. Seems like that is an attempt at a mind trick by a Sith Lord.

Tue, 10/08/2013 - 12:32 | Link to Comment Ghordius
Ghordius's picture

"What is Government?" a question of perspective. in the case of the US gov, you would not ask this question if you'd ever see the "sharp stick" business end of it, be them the fleets or the military bases. but if you live in the eye of a "storm", you might indeed doubt in the presence of the same storm

"what is money?" - whatever functions as money

"what is a country?" - again, a matter of perspective. if you travel from France to Belgium to The Netherlands to Germany to Denmark, you notice, even without border controls

"what is Economic Growth" - again a matter of perspective. best noticed when you compare how you grandparents and parents fared and how your situation is. of course if it's aggregated to a statistic you might not feel the differences

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