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One Last Look At The Real Economy Before It Implodes - Part 3
Submitted by Brandon Smith from Alt-Market, Click here for Part I and Part II.
One Last Look At The Real Economy Before It Implodes - Part 3
In the previous installments of this series, we discussed the hidden and often unspoken crisis brewing within the employment market, as well as in personal debt. The primary consequence being a collapse in overall consumer demand, something which we are at this very moment witnessing in the macro-picture of the fiscal situation around the world. Lack of real production and lack of sustainable employment options result in a lack of savings, an over-dependency on debt and welfare, the destruction of grass-roots entrepreneurship, a conflated and disingenuous representation of gross domestic product, and ultimately an economic system devoid of structural integrity — a hollow shell of a system, vulnerable to even the slightest shocks.
This lack of structural integrity and stability is hidden from the general public quite deliberately by way of central bank money creation that enables government debt spending, which is counted toward GDP despite the fact that it is NOT true production (debt creation is a negation of true production and historically results in a degradation of the overall economy as well as monetary buying power, rather than progress). Government debt spending also disguises the real state of poverty within a system through welfare and entitlements. The U.S. poverty level is at record highs, hitting previous records set 50 years ago during Lyndon Johnson’s administration. The record-breaking rise in poverty has also occurred despite 50 years of the so called “war on poverty,” a shift toward American socialism that was a continuation of the policies launched by Franklin D. Roosevelt’s 'New Deal'.
The shift toward a welfare state is the exact reason why, despite record poverty and a 23 percent true unemployment rate (as discussed here), we do not yet see the kind of soup lines and rampant indigence witnessed during the Great Depression. Today, EBT cards and other welfare programs hide modern soup lines in plain sight. It should be noted that the record 20 percent of U.S. households now on food stamps are still technically contributing to GDP. That’s because government statistics make no distinction between normal grocery consumption and consumption created artificially through debt-generated welfare.
This third installment of our economic series will be the most difficult. We will examine the issue of government debt, including how true debt is disguised from the public and how this debt is a warning of a coming implosion in our overall structure. National debt is perhaps one of the most manipulated fields of economics, and the layers surrounding what our country truly owes to foreign creditors and central banks are many. I believe this confusing array of disinformation is designed to discourage average Americans from pursuing the facts. Here are the facts all the same, for those who have the patience...
First, it is important to debunk the mainstream lies surrounding what constitutes national debt.
“Official” national debt as of 2015 is currently reported at more than $18 trillion. That means that under Barack Obama and with the aid of the private Federal Reserve, U.S. debt has nearly doubled since 2008 — quite an accomplishment in only seven years’ time. But this is not the whole picture.
Official GDP numbers published for mainstream consumption do NOT include annual liabilities generated by programs such as Social Security and Medicare. These liabilities are veiled through the efforts of the Congressional Budget Office (CBO), which reports on what it calls “debts” rather than on the true fiscal gap. Through the efforts of economists like Laurence Kotlikoff of Boston University, Alan J. Auerbach and Jagadeesh Gokhale, understanding of the fiscal gap (the difference between our government’s projected financial obligations and the present value of all projected future tax and other receipts) is slowly growing within more mainstream circles.
The debt created through the fiscal gap increases, for example, because of the Social Security program - since government taxes the population for Social Security but uses that tax money to fund other programs or to pay off other outstanding debts. In other words, the government collects "taxes" with the promise of paying them back in the future through Social Security, but it spends that money instead of saving it for the use it was supposedly intended.
The costs of such unfunded liabilities within programs like Social Security and Medicare accumulate as the government continues to kick the can down the road instead of changing policy to cover costs. This accumulation is reflected in the Alternative Financial Scenario analysis, which the CBO used to publish every year but for some reason stopped publishing in 2013. Here is a presentation on the AFS by the St. Louis branch of the Federal Reserve. Take note that the crowd laughs at the prospect of the government continuing to “can kick” economic policy changes in order to avoid handling current debt obligations, yet that is exactly what has happened over the past several years.
Using the AFS report, Kotlikoff and other more honest economists estimate real U.S. national debt to stand at about $205 trillion.
When the exposure of these numbers began to take hold in the mainstream, media pundits and establishment propagandists set in motion a campaign to spin public perception, claiming that the vast majority of this debt was actually “projected debt” to be paid over the course of 70 years or more and, thus, not important in terms of today’s debt concerns. While some estimates of national debt include future projections of unfunded liabilities in certain sectors this far ahead, the spin masters' fundamental argument is in fact a disingenuous redirection of the facts.
According to the calculations of economists like Chris Cox and Bill Archer, unfunded liabilities are adding about $8 trillion in total debt annually. That is $8 trillion dollars per year not accounted for in official national debt stats. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion of this amount.
Kotlikoff’s analysis shows that this annual hidden debt accumulation has resulted in a current total of $205 trillion. This amount is not the unfunded liabilities added up in all future years. This is the present value of the unfunded liabilities, discounted to today.
How is the U.S. currently covering such massive obligations on top of the already counted existing budget costs? It’s not.
Taxes collected yearly in the range of $3.7 trillion are nowhere near enough to cover the amount, and no amount of future taxes would make a dent either. This is why the Grace Commission, established during the Ronald Reagan presidency, found that not a single penny of your taxes collected by the Internal Revenue Service is going toward the funding of actual government programs. In fact, all new taxes are being used to pay off the ever increasing interest on current debts.
For those who argue that an increase in taxation is the cure, more than 102 million people are unemployed within the U.S. today. According to the Bureau of Labor Statistics and the Current Population Survey (CPS), 148 million are employed; about 20% of these are considered part-time workers (about 30 million people). Around 16 million full time workers are employed by state and local government (meaning they are a drain on the system whether they know it or not). Only 43 percent of all U.S. households are considered “middle class,” the section of the public where most taxes are derived. In the best-case scenario, we have about 120 million people paying a majority of taxes toward U.S. debt obligations, while nearly as many are adding to those debt obligations through welfare programs or have the potential to add to those obligations in the near future if they do not find work due to the high unemployment rate that no one at the BLS wants to acknowledge.
Looking at reality, one finds a swiftly shrinking middle class paying for an ever larger welfare class. Do the math, and an honest person will admit that no matter how much taxes increase, they will still never make up for the lack of adequate taxpayers.
Another dishonest argument given to dismiss concerns of national debt is the lie that Domestic Net Worth in the U.S. far outweighs our debts owed, and this somehow negates the issue. Domestic Net Worth is calculated using Gross Domestic Assets, public and private. It's interesting, however, that Domestic Net Worth counts 'Debt Capital' as an asset, just as GDP counts debt creation as production. Debt Capital is the “capital” businesses and governments raise by taking out loans. This capital (debt) is then counted as an asset toward Domestic Net Worth.
Yes, that’s right, private and national debts are “assets.” And mainstream economists argue that these debts (errr… assets) offset our existing debts. This is the unicorn, Neverland, Care Bear magic of establishment economics, folks. It’s truly a magnificent thing to behold.
Ironically, debt capital, like the official national debt, does not include unfunded liabilities. If it did, mainstream talking heads could claim an even vaster supply of “assets” (debts) that offset our liabilities.
This situation is clearly unsustainable. The only people who seem to argue that it is sustainable are disinformation agents with something to gain (government favors and pay) and government cronies with something to lose (public trust and their positions of petty authority).
With overall Treasury investments static for some foreign central banks and dwindling in others, the only other options are to print indefinitely and at ever greater levels, or to default. For decades, the Federal Reserve has been printing in order to keep the game afloat, and the American public has little to no idea how much fiat and debt the private institution has conjured in the process. Certainly, the amount of debt we see just in annual unfunded liabilities helps to explain why the dollar has lost 97 percent of its purchasing power since the Fed was established. Covering that much debt in the short term requires a constant flow of fiat, digital and paper. Not only does REAL debt threaten our credit standing as a nation, it also threatens the value and full faith in the dollar.
The small glimpse into Fed operations we received during the limited TARP audit was enough to warrant serious concern, as a full audit would likely result in the exposure of total debt fraud, the immediate abandonment of U.S. Treasury investment, and the destruction of the dollar. Of course, all of that will eventually happen anyway...
I will discuss why this will take place sooner rather than later through the issues of Treasury bonds and the dollar in the fourth installment of this series. In the fifth installment, I will examine the many reasons why a deliberate program of destructive debt bubbles and currency devaluations actually benefits certain international financiers and elites with aspirations of complete globalization. And in the sixth and final installment, I will delve into practical solutions - and practical solutions only. In the meantime, I would like everyone to consider this:
No society or culture has ever successfully survived by disengaging itself from its own financial responsibilities and dumping them on future generations without falling from historical grace. Not one. Does anyone with any sense really believe that the U.S. is somehow immune to this reality?
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This "Recovery" SUCKS!
These are some funamental questions we all have to ask ourselves. Will we accept an economy where only the few do spectacularly well and the poor have no voice, or will we strive for an economy where every citizen is a snowflake who can reach their true potential? These are trying times, and the future will judge our values by the economy we create for our children.
The Fed is doing the Weimar Shuffle. They will pay it all back with trillion dollar notes once hyperinflation hits. No debts, No problems.
I think the Shuffle morphs to the Goose Step somewhere in the middle of real inflation to hyper inflation. I'm learning the steps now...
"Jobless rekovery."
Message to the third world youth:
That sports car you saw while you were sitting at the taxi rank - it's possible
That big house on the hills that you thought could only be for some privileged white family - it's possible
Those sweet $500 sneakers you saw on MTV - it’s possible
All you have to do is believe. This is 2015, and anything is possible. Whatever you want in life, you can have it - just remember that. Life is yours to take, so just live it, and your dreams will come true.
If you're hungry and desperately need food, all you have to do is believe .. and food you shall have.
Recovery 101 - Wait for Recovery before calling it a recovery
Layoff List: http://www.dailyjobcuts.com
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The violence will only worsen. Welcome to the new America.
http://www.planbeconomics.com/2015/03/the-new-america-10-year-old-girl-a...
Oh MDB, you're a prolific troll indeed. Every person is a snowflake. Falling onto the same large pile that will eventually crater under its' own weight and those special people, only mildy affected by autism from vaccines and gmo's, will be a raging torrent, flooded with rivulants of thought, cascading into a waterfall of creative alternatives.
The roving bands of discontent will surface once the snap cards no-worky
you use your keyboard prettier than a 20$ whore
shocking: even on ZH there are so many who do not get MDB's sarcasm
If it was good sarcasm I could appreciate it. You must have very low standards.
Take it easy on poor MDB today. Not one of his better efforts, but looking at his entire body of work here on The Hedge, he as proven very capable of fooling many commenters with his creative use of sarcasm.
Good article though. Wonky without being too wonky, if you know what I mean. I use articles like this as a window to the truth for people I think might be open to it. Some of the dense articles, and the chart-intensive truthiness are hard to use as learning tools for the sheeple that show some signs of life. I think I can use this one to help wake some people up.
We are still screwed, but if we can wake up a few more, it will help when it all eventually collapses...
We get it. But the sarcasm has to be sharp to be effective. With the exception of last week, when he had a couple of real gems, MDB has been off his game for quite awhile now.
"In fact, all new taxes are being used to pay off the ever increasing interest on current debts."
This is the key to it all. This is precisely what the international usurers had in mind when they set this shit system up 101 years ago.
Do you ever wonder where that interest goes? If our money were debt-free, interest payments would go almost entirely toward societal infrastructure whether it be health care, road construction, public works, etc... Instead, it goes into empowering the most debased and diabolical tribe of humans the earth has ever known or ever will know.
Enough already.
Sure buddy.
But how do you get from internet comment to reality?
For I want Barry and Michelle to re-enact my favorite scene from Family Ties, but your lost thought seems as far-fetched as mine.
Back to the drawing board spacemonkeys!
Buy Gold
Is that the scene where they drive off the cliff in a convertible? Oh, wait. That was in "Thelma and Louise."
Never mind.
Is that the scene where they drive off the cliff in a convertible? Oh, wait. That was in "Thelma and Louise."
Never mind.
Most of the debt was incurred building a defense system used for the wars from Vietnam to Ukraine (5T $) and our covert intelligence operations (2T $). Ironically most Americans are still un-informatively cheering on the industrial military complex.
They ran up the credit card much to the bankers hearts delight, and most are ignorant still that the cannot even pay the accrued interest.
How often do we hear..."we gotta have a strong defense huh ?" From NeoCons.
Then there were the endless bailouts / payouts to our banks and to foreign countries via FRB and the ESF to third world countries ( Mexico during the Bush admin 3B$ to name one ). " we gotta help the poor huh? "
Did America "willingly and knowingly" run up the credit card ?
The Nazi parasite(industry-banking-politicians) found a willing host in America's moron millions.
hey thirteenth, you conveniently left out the war on poverty - $10 trillion failure and counting, you have no idea what the real truth is. True enough, we ran up the credit card, mainly due to the Demoncrat social welfare policies.
Take a hard look at the budget pie my friend, and you will see the MIC is 22% of it, the majority of the rest is socialism - wealth redistribution.
Let's not forget what happened to all the jobs we sent out of the country at the alter of free trade. What about all the small businesses crushed by unbridled, monopolistic multinational corporatism. These actions destroyed the tax base, and to top it off, all the tax laws have been revised to favor wealthy individuals and big corporations, allowing evermore capital to flow into fewer hands.
And making sure our manufacturing jobs went to an aggressive communist dictatorship was job number one for our political and business sellout class.
Correct, Unix. But that is an inconvenient truth to the statists.
Markmotive, yes, the apes want to rule, with vengence now! And by apes, I mean thugs, not black people per se! It pains me to see this kind of thing happening, what did the 5 year old do to get that kind of beat down, much less his sister?
After you decide you're entitled to come to the U.S. if you feel like it. No one here will object.
One of your more humorous posts, MDB. Keep up the good work.
Cracks me up that so many ZHers don't get his sarc.
Must crack him up, too.
Cracks me up that it cracks you up.
Buy Gold
He cracked-up some folks
He is a crack.
A cracker.
Yeah, and if you're a dope-smoking bum working as a community organizer you can lie your way into becoming president!
Wow, zerohedge has come a long way from its humble and brilliant beginnings to this...
Three up arrows for a Drudge Report / Huffington Post (same difference) comment to no down arrows/rebuttals.
Going mainstream may seem like a sellout, but on a long enough timelime humanity is uplifted if your aim is true.
Spacemonkey "Moe Hamhead" - your aim is not true. But you prove a point.
BUY GOLD
I thought the ONLY way to become president was to lie your way there.
Some have been better at it than others.
Indeed.
Why post this?
BUY GOLD
Ironic question, given your nick
Hello Moe, obama is actually related to the elite familys. THAT is why he allowed. His alleigance is to the familys.
Communist sympathizers need to make a living just like everybody else.
Ha! Ha! I read the post before I noticed it was MDB! Again with the brilliant sarcasm. Reading MDB makes me feel I am front row in the Texas delagation to the Republican National Convention sharing insight about the plight of the lower classes.
I'll be mailing the electric company an envelope with letters believe. I hope they accept it .
I am a hedger...
and hedgers just belieeeeve...
There are a lot more important problems than Sri Lanka to worry about. Sure our foreign policy is important, but there are more pressing problems at hand. Well, we have to end apartheid for one. And slow down the nuclear arms race, stop terrorism and world hunger. But we can't ignore our social needs either. We have to stop people from abusing the welfare system. We have to provide food and shelter for the homeless and oppose racial discrimination and promote civil rights while also promoting equal rights for women but change the abortion laws to protect the right to life yet still somehow maintain women's freedom of choice. We also have to control the influx of illegal immigrants. We have to encourage a return to traditional moral values and curb graphic sex and violence on TV, in movies, in pop music, everywhere. Most importantly we have to promote general social concern and less materialism in young people.
I do not doubt your sincerity and I agree with your premise on all points but...stating it as you have is almost as cynical as the posts by MDB. While the Pharoahs who own us make the rules and drink the blood we have allowed them to a point that has no turning back. Their plans, whatever they are do not include any of your or my concerns. Their plans do not include the welfare of this country except for using it as a military means to subdue any and all they desire to pillage and plunder. If it winds up that we are completely destroyed they will have their safe holes and Swiss accounts to start again somewhere else.
We have long passed the point that the founders statements should have been acted upon, "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness".
The founders did not forsee that a practice of paying people to not work, to provide their food, shelter, housing and numerous other forms of support as well as educating downward (dumbing down) would lead to a population that would prefer to be handed a meager existance than to earn a generous one. Most are unable to recognize that we are now and have been subject to a Government that IS destructive to these ends and are content with the status quo of mediocrity. The time to rise up and abolish is long past, and has been totally misssed.
This Republic as known was not kept and will not return. The options are discussed daily here and on other sites. The solutions offered..buy gold, store food, have guns and ammunition? Planning to survive the worst case scenario is not the same as planning to overcome, to achieve, to restore the nation. Each day we react and continue to do so. Why? Because we have lost. Game over, set, match.
This is filled with some of the best references to the most amazing book of the 80's. Nicely done.
Now how about Heuy Lewis and the News?
Do you like Huey Lewis and the News? Their early work was a little too new wave for my tastes, but when Sports came out in '83, I think they really came into their own, commercially and artistically. The whole album has a clear, crisp sound, and a new sheen of consummate professionalism that really gives the songs a big boost. He's been compared to Elvis Costello, but I think Huey has a far more bitter, cynical sense of humor.
You lost me at world hunger.
Actually, it was at apartheid.
LongRifle - invasion of the stereotype, you are...
predictable and delusional - you're the whole package cowboy...
We don't want to believe - we want to know!
Only a moron would buy $500 sneakers
as usual... your absence of /sarc tags is deeply disturbing MDB.
My guess is, you hvae a very moist limp hand shake
Hyperinflation? It's right around the corner. That's why gold is screaming and ZH is being proven right for pushing AU for years...
It is easy. You put your right foot in...
You people actually find this sarchastic "mental midget" entertaining?
Seriously, MDB is a broken record that runs some (un -accredited) website looking for new victims.
It was fun 2-3 years ago. The satirical element of MDB's juvenil jibberish isn't even remotely entertaining.
Has Z/H digressed to the point that complacency & sarcasm disrespect serious traders, by 17 year old prodigies drinking Magnums of Dom Perignon in their basements?
This site has digessed in many ways. Perhaps getting off on your own brilliance is a bit passe.
I experienced this somewhere between 15 weeks and 2 years ago.
You?
WSJ reporter body found in NJ river. Good thing he did not have a Mercedes or a nail gun.
http://www.freerepublic.com/focus/f-news/3270049/posts
Passaic River? He would die from poisoning in seconds probably.
Lulz
Indeed.
Why post this?
BUY GOLD
Keep BTFD, BTFATH.
FTMFW, dude, FTMFW! ;)
Do you not think that MDB is a hardcore ZHer playing devil's sarcastic joker? He has some hilarious material.
@MDB
Made no sense at all.
Well done, you have reached perfection.
Question for you Kina:
Think about what most of the comments on this site push you to...
...the answer is thinking about nonsense. As said before, one can find the same via TMZ.
Whether intentional or unintentional (and there is both), only a fool would fall for the bait.
Thinking about nonsense is just as easy on TMZ, and there is far more eye-candy.
Perhaps a new mindset is needed in the people who post here?
To all commenters here: Your humor is not funny.
Buy Gold
Your comment applies to you and you alone. Feel fre to stand in the bleachers and observe Mr one week and change. God this troll brigade wears thin.
IKR! We ARE SO FUNNY!
What is a dentist's favorite time of day?
Tooth hurty.
Sometimes we are punny too.
I think it is a machine.
MY GOD! IT'S FULL OF STARS!
IridiumRebel - I think so too but no monolith required. Second verse same as the first but with slight deviations with each recreation caused by radiation (I'm simplifying). Gotta keep on trying to solve the mysteries in between that itch that must be scratched and so fun to do so.
ARG! .
MDB, always a class act with a grade "A" mind.
As to your comment, there was a time when all you needed to succeed was knowledge and a drive to put that knowledge to work. We live now on the brink of momentous change, suffer the children, for they have no say about the world they will soon inherit.
Ilegtimi NoN Carborundum
I'll take the snowflake version if it means that everyone enjoys equal application of the rule of law as defined by the US Constitution and if corporations are to remain people that they should suffer the death penalty (kill the board members and officers by hanging) if the crimes they commit would lead to the same fate for individual humans.
#Banks: which will be bankrupt next?
Credit Default Swaps:
http://cds-info.com/
perhaps we could put together a Bankrupt bracket like in Basketball and chart out the playas.....
getting to a final FOAR
That no help. Which way tree fall? Tree fall this way that bank goes down. Tree fall that way and this bank goes down. If this bank goes down then that bank goes down. If that bank goes down then this bank goes down.
You feel me?
Why wait for a "recovery"?
Become wealthy in the old fashioned way, just modernize it with the safe and secure Bitcoin.
Bitcoin 'exit scam': deep-web market operators disappear with $12m
http://www.theguardian.com/technology/2015/mar/18/bitcoin-deep-web-evolution-exit-scam-12-million-dollars
Verto and Kimble, the administrators of Evolution Marketplace, have made off with the cryptocurrency sum as Reddit community cries foul
At first I down voted you for bringing btc into this. Then I upvoted you for exposing it.
That would make pure bumpersticker gold. Do it.
Yes, and will continue to suck for about 7-8 more years. That's because it's not a recovery, it's a depression.
As for the question of how long can the US continue in the current fashion regarding debt, the answer is: much longer than many think.
I don't know how much sense I have...but clearly the US is exceptional. If anyone in the history of the world could be immune to reality it would certainly be the US.
Its pretty easy to be immune to reality when you are spending other peoples money and resources. And make no mistake, thats what this scumbag bunch in DC is doing. Not just their own subjects either, rather the people's worldwide.
Yes, yes it is. I do agree in spirit. The catch is we gots nukes bitchez!
Raising the tax rate to 100% isn't going to fix this.
Cannibalism might work.
Financial cannibalism is what got the world here. ONLY solution is to dissolve the Central banks. To pass laws to negate the vampire debt they suk off. To take away the notion that property rights belong to the Crown. To expose central banking as a criminal activity.
To restore a nation's right to mint their own currency. Fuck central banks,
Go long condiments.
That's pretty good.
It is gonna have to work the way things are going.
The economy is like Pinocchio...ain't no real boy....with every lie they tell the problem keeps growing.
You heard it here folks:
"The Pinocchio Economy"
I am going all in double long options next week!
Three parts, and no conclusions?
He could at least have said, "Buy gold Bitches!"
He indicated 3 more installments forthcoming. Hope the net is still up :-)
More and more jobs are being eliminated due to robotics as well, so the jobs market is really going to take a huge shit in coming years.....
Found this on Jim Rickards twitter page
https://www.scribd.com/fullscreen/258605525?access_key=key-dS1ZhJJ4ZgCH6...
I started hearing about this crap yesterday and sounds to me like they're preparing for martial law by pre-positioning assets under cover of a drill. It's a tune we've heard before and we can't dance to it. Might be a good idea to spread this around like dabronx did.
Well both San Diego County and Imperial County, CA, are insurgent strongholds, as well as the entire state of Utah, the entire state of Texas, with New Mexico leaning in that direction?
I think that there may be more to this than what appears on the surface.
They wrote the script 2000 yrs. ago. If they intend to follow through with it they will find that there will be no bunker deep enough, and no spaceship fast enough for their progeny to escape. If they do break away, they will likely be destroyed in space. Required lessons have not been taken to heart.
now despite the fact that many of the people in my life think im a crazy conspiracy theorist--you know because i believe the fed causes financial crises--i rarely ever feel like im actually wearing that tinfoil hat. that being said, i keep seeing september 15th of this year pop up, ever since someone mentioned shemitah year on ZH a few months ago. this drill ends on september 15th, the last day of the shemitah. strange coincidence.
I don't do Jewish holidays.
I just eat the bagels.
Think about what most of the comments on this site push you to...
...the answer is thinking about nonsense. As said before, one can find the same via TMZ.
Whether intentional or unintentional (and there is both), only a fool would fall for the bait.
Thinking about nonsense is just as easy on TMZ, and there is far more eye-candy.
Perhaps a new mindset is needed in the people who post here?
To all commenters here: Your humor is not funny.
Buy Gold
by no means an old-timer here - but a bit of advice that I have learned 'bout the hedge...
dummy up and pay attention mofo...
No one cares what you or I have to say.
The only thought I - or you - have as a "bit of advice" that anyone reading this will gain from is
BUY GOLD
The comment section is filled with great advice, like buying gold. Less bitching and more value adding.
"My Gold, it's full of stars!"
Huge gold buy opportunity coming in the next 18-24 months at $724.
WHEN ??????
Nigh.......
A good old fashion riot would fix all this
Excellent, Brandon. Thanks for this series. What is that a Jubilee I smell, 'cause these debts aren't getting repaid.
We, the American people, do not need, or should beg for, a "Jubilee." We should just roll our own. Call it the "Nobilee." As in "No Payie, So Get Bentie." And then we can all go be jubilant at our liberation from Zion.
The banksters need to repay us.
The most powerful weapon the American people have is Rejection.
The system of fraud and theft that has been built up upon the backs of the American people is dependent upon our backs. Withdraw our backs, and the whole scheme collapses. This is our greatest weapon.
Stop Paying--Put it into food, and precious metals, etc. They stole whatever "debt money" they loaned you in the first place (fractional reserve banking) and soon you won't be able to pay them anyways, so Stop Paying.
Stop Playing--Stop being a tool for them to use, mock, and call "stupid." Stop Playing.
Stop Obeying--If they are in violation of the Constitution then they are not legitimate anyways, so Stop Obeying their unlawful dictates.
The Four Rs
Rejection: Stop Paying. Stop Playing. Stop Obeying.
Revolution: It is inevitable, so prepare, as they are.
Retribution: The guilty must answer for their crimes against the American people and the Constitution. No “truth and reconciliation,” but “trial and Retribution.”
Restoration: Restore the American people, country and Constitutional republic.
Righteous.
cover and song for your writing;)
https://www.youtube.com/watch?v=Lcp4OXg7d7c&index=5&list=PLABF16AA185A49FF3
Welcome to Amerika> Forward comrad...
I loved the snake eating it's tail picto~graphic. Priceless!
I always recite this thought to my friends and family, (and myself) when times/things look ugly.
" You didn't get into this mess overnight, and you aren't going to get out of this mess overnight."
That's why I prefer to keep things situational, as opposed to letting them become problematic. ;-)
P.S. The author of this series should be given a Pulitzer.
Excellent journalistic & editorial work.
Vodka!
http://beforeitsnews.com/war-and-conflict/2015/03/moscow-bomb-shelters-f...
i don't know anything about it.
I guess you aren't in the club...
The good news is, oh wait, there isn't any.
Sorcha Faal=horse shit.
"We stole some Trillions from some folks, and chalked it up an Public Debt :-)"
.Using the AFS report, Kotlikoff and other more honest economists estimate real U.S. national debt to stand at about $205 trillion.
That's only about $717,500 in debt for each man, woman, and child. What could go wrong? (I think I will go get drunk now).
Kotlikoff is a Blackstone Pete Petersen devotee, loaded with fake numbers to scare people into cutting Social Security and Medicare. Funny how these oligarchs ignore the blood-sucking military-industrial complex that enriches them beyond belief.
"AFS report" sounds fancy, I better buleeve it,,,duh...huh...
Thanks for the info on Kotikoff-I didn't know that.
He's not a "devotee" to Blackstone, though the guy has consulted with half the governments and banks in the world on debt issues. Also, what kind of jackass thinks Social Security and Medicare aren't a financial disaster? Is this really even under debate anymore?
Every comment - yours and above - was absolute nonsense.
Buy Gold
Coming from the pretentious sack tickler that hasn't posted a thing worth reading on this thread. I suppose we're all in good company...
Red1chief - Pete Peterson was the US Comptroller for 15 years. Did you see IOUSA? The numbers for entitlements are unsustainable.
I think this was understood by the mid-1990's. That decision making was done by CFR and BIS to have China become reserve currency. Slowing the trade and job flow East may have delayed the time of reckoning but not prevented it. That massive debt was issued to kick the can.
The measures needed to balance the budget will be and are starting to be draconian. That insiders got the gettin and looted the treasury while the getting was still good.
Even if controlled demolition was a well intended plan to mitigate loss there have been a lot of fuck ups along the way. I think a lot of what I said will be what historians write about.
I think your best hedge is health, moderating habits and getting in some exercise. After that 3 months of provisions including some sin luxury for barter and keeping onself sane for the reset, America 2.0 . I think there will be martial law. How it all goes down in further specifics is beyond my pay grade so to speak. I just think of this quote often:
"It is better to have it and not need it then need it and not have it."
-Ben Franklin
The fear of what may come as a reset may actually be worse for many than the events themselves. But it is wise to keep ones eyes open and alert. After you have some hedges try and enjoy life as best possible, it is always darkest before dawn.
What are the true numbers about SS and Medicare? Inquiring minds want to know.
scare people into cutting Social Security and Medicare
The other option is "please lie to us some more." Do you prefer that one?
(Oh, and are you yourself on Social Security and/or Medicare, or will be soon?)
All issues will ultimately come down to FOOD, and the availability of FOOD.
As long as people's bellies are full, there will be no problems.
When people begin to go hungry, all bets are off.
The idea will be to dispatch someone down to neuvo-egypt to borrow back some of the grain they stole. Perhaps Rand will be the guy for the job?
I plagarized this comment.l
"For some, the Fed’s actions and outspoken resistance to an audit indicate fear. And logically so, for it is arguable that the Fed, which is a cartel of big banks, does what is in the interests of large banks, not what is in the interest of run-of-the-mill Americans."
Buddy think about that scene in Star Wars where Leia said "Help me Obi Wan, you're our only hope".
One thing we didn't see in that movie was talk about currency movements. Surely
Buy Gold
Long Ag& Au.
That's going to be one heck of a balloon payment.
"No society or culture has ever successfully survived by disengaging itself from its own financial responsibilities and dumping them on future generations without falling from historical grace. Not one. Does anyone with any sense really believe that the U.S. is somehow immune to this reality?"
Great article, but here at the end I detect some "group speak" creep in. That "debt" was stolen, and unconstitutional in the first place. Is the author implying some obligation on the part of the people? Chase down the Central Bankers and Oligarchs that stole the stuff, if someone wants it back- none will have to go very far, since the beneficiaries are now located in financial centers located in nearly every country on the globe :-) [Well, mostly in the city of London according to many] - "Lights out, Lights out in London.... - Hold Tight 'Til the End ..."
I had to log in just to upvote you for the UFO reference.
Americans will have to take some responsibility for this situation. This kind of theft and enslvement does not take place without a total lack of vigilance on the part of the victims.
Shades of Vaclav Klaus or whomever.
http://www.truthorfiction.com/rumors/c/Vaclav-Klaus.htm#.VQ5_5M7nZSA
Someone voted for all of this.
Still, you have a point. The real majority did not vote for this.
>>>"No society or culture has ever successfully survived by disengaging itself from its own financial responsibilities and dumping them on future generations...."
To condense, the United States of America has successfully disengaged itself... from its own future.
http://www.youtubeloop.com/One_Big_Parking_Lot_-_NRBQ
One Big Parking Lot
Tractoresque :-)
Gary Burton Quartet - Bag's Groove (Art Always Wins)
https://www.youtube.com/watch?v=U9j3-XPzNiQ
oh man
that is
thanks right
on it
Big Al Anderson does a NRBQ Classic
From Big Al's No Class Reunion, Dec. 27, 2014 at the Hills Point Hotel and Conference Center, Windsor
http://www.youtubeloop.com/v/bYvY3IGBJ58
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Yeah, my ears were bleeding last night when i had to suffer the four words "intrinsic value means nothing".
Think this individual was drunk, and a TERRIBLE drunk at that. I also realize that the world is full of cold blooded stupid sycophants, it's not limited within to U.S. borders.
I give up. I have this unkind life and the press is beyond raunchy and I can't escape it after the last 5 years of hell I lived through.
In part because people think they're soooo sophisticated for thinking that they have words to use for political stuff, or because people literally live as if politics was their religion. Everyone else seems to be a thug.
The world has changed, there's no way to cope with it. I tried to escape and found the tweakers ocd following me. I seriously think they run the government press. They shoudl've run out of steam a long time ago, I don't know what happened.
Intinsic value> A silver eagle every Friday @ $20 and some change.
:-)
Just keep your head down in Oxford ;-)
http://www.youtubeloop.com/v/pWUh99WVKD0
NRBQ - Sitting In The Park
NRBQ performs "Sitting In The Park" at the Vernon Club. Louisville, Kentucky. August 26,2011. Video by John
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oh man, this is it.
The only way to fix this...toga party!
TOGA! TOGA! TOGA!
Glad I live in a fairly remote part of the country. This shitstorm of an economy is going to be ugly when it breaks. You "city dwellers" are fucked if you mis time your "getaway" :)
hairball
Classic fear mongering. ..
'And one final look at the economy...part 763...'
ALMOST..just slightly..starting to feel like controlled opposition.
Prolly just me though.