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Things Fall Apart
Originally posted at EconomicNoise.com,
“Things fall apart” is an apt sub-title for historians to apply to the first half of the 21st century. The phrase properly describes the collapse of the domestic and foreign policy of the United States. Further, it also is appropriate to describe the happenings in Europe, the Middle East and Asia.
Things fall apart describes the economy of every developed nation and the balance of power that the world has known since the end of World War II.
The powers that be have lost control. After almost a century of playing the Wizard of Oz, the curtain is disintegrating. Institutions to ensure control, stability and prosperity are failing. People and markets were not to be trusted and most of these institutions were established to protect against such freedom. Bureaucrats, central planners and big governments were to be the answers for a better world.
The damage of nearly a century of this nonsense is suddenly becoming evident. Things fall apart is characterized by institutions that no longer are trusted or believed in. Few institutions are seen to work and when they do they are increasingly seen as favoring the elites at the expense of the masses. No institution is under greater scrutiny as the cloak of wisdom is being destroyed by the hard facts of reality is that of central banking, the corner piece of socialism even at the height of the Thatcher–Reagan movement back toward markets. The Daily Bell writes about the US Federal Reserve, although other central banks are incurring similar doubts and distrust:
Things Fall Apart Around Janet Yellen
By Daily Bell Staff – October 16, 2015
Fed policymakers downplay divisions on U.S. rate hike … Federal Reserve policymakers are not as divided as it may appear and are generally operating under the same framework for determining when to raise interest rates, one Fed official said on Thursday, while another said the differences of opinion reflect the countervailing economic data. Many Fed watchers are exasperated by the mixed messages from the U.S. central bank in recent weeks. Fed Chair Janet Yellen and other officials have said they expect a rate hike will be needed by the end of this year, but two Fed governors this week urged caution. – Reuters
Dominant Social Theme: Everything is OK. Janet Yellen is OK. The Fed is OK. Inflation is OK. The data is OK. It’s OK, man!
Free-Market Analysis: But maybe it’s not … Of course the mainstream media – as represented above by Reuters – is going to emphasize the normalcy of the process. There should be no doubt that the Federal Reserve has weathered worse crises and as soon as the numbers prove out one way or another, Fed officials will figure out the next move.
On the other hand, maybe, just maybe, we are seeing the final days of the Fed as a credible institution. Often in autocratic societies, power centers become dysfunctional long before they are retired or crumble into dust and blow away. This is part of how a society dies – when the people abandon the institutions in which they are supposed to believe.
So the Fed’s quandary is a serious one. Nobody is going to shut the place down, certainly not right away, but once credibility has leaked away what’s left? Big buildings, gilt furniture … and a dying mythology that adherents have abandoned.
This is the Fed’s REAL danger. Its painfully-won credibility – the product of a vast, intergenerational campaign of intimidation, bribery and misinformation – is beginning to crumble in earnest. It is harder and harder to insist with any seriousness that a few good, gray men in expensive surroundings can figure out the direction and value of money for a US$15 trillion economy.
They will keep insisting, of course. Mainstream mouthpieces like Reuters will quote higher-up Fed officials with the seriousness one associates with oracular statements from the Pantheon of the Gods. See here:
New York Fed President William Dudley, who repeated his view that a rate hike was likely by year’s end … downplayed the differences that existed among officials. “At the end of the day people are exaggerating” the divisions, Dudley said in response to a question after a panel presentation in Washington on Thursday. “We are all pretty much on the same page.”
In fact, Dudley can’t seem to keep track of his own statements. CNBC recently featured an article with the headline, “Fed’s Dudley: The economy may be slowing.” The article quoted Dudley as admitting that recent data suggest the economy is slowing – and certainly this conclusion would lead one to surmise that rate hikes are off the table, at least for this year.
The same article mentioned a Fed report claiming that US labor markets were “tightening.” One wonders if the data was collected before or after Walmart announced hundreds of layoffs at its Arkansas headquarters.
Perhaps iconoclastic, libertarian trend-follower Gerald Celente has a more accurate perspective on the Fed. In an article posted at LewRockwell.com and entitled, “Is the Fed Lying, or Not Telling The Truth?” Celente points out that the “expectation on the Street, based on the Fed’s bullish growth, inflation and equity market forecasts, was for the first round of interest rate hikes to begin by mid 2015.”
He then goes on to observe, “The Fed was wrong. The Street was wrong.”
And Celente does us the favor of unwrapping what just happened in mid-September when the Fed blinked once again.
Faced with plunging commodity prices, plummeting currencies, battered equity markets and a global deflationary cycle, the FOMC, concerned that China’s economy was slowing and the global economy risked falling into recession, did not raise interest rates.
But just one week later the story changed. The reason not to raise rates was no longer the reason. Instead, a rate hike was on the near horizon.
Fed Chairwoman Janet Yellen, speaking at the University of Massachusetts, signaled that the Fed may raise rates before year’s end, because inflation was set to rise and the Fed “is monitoring developments abroad, but we do not anticipate the effects of these recent developments to have a significant effect.”
It doesn’t end here. On October 8, FOMC minutes were released and showed clearly that the committee was “deeply concerned” over volatile market indexes. “Over the intermeeting period, the concerns about global economic growth and turbulence in financial markets led to greater uncertainty among market participants about the likely timing of the start of normalization of the stance of U.S. monetary policy,” the minutes stated.
Celente has encapsulated the credibility problem that the Fed faces. Central bank officials were quite certain that rates would be raised in 2015. But the year is almost over and the Fed hasn’t acted. When rates remained static, after the September meeting, Fed officials let it be known that the Chinese market meltdown had stayed their hands.
A week later, Yellen was once more stating that a rate hike loomed. Meanwhile, FOMC minutes explain that the prospect of a rate hike spooked officials who anticipated that even a minuscule hike could lead to considerable market “turbulence.”
After summarizing all this, Gerald Celente writes the following:
Is the Fed afraid to do anything considering the possible implications of raising rates at a time of “concerns about global economic growth and turbulence in financial markets,” thus the mixed messages? Or is this just another round of Fed ineptness?
Celente then answers his questions by suggesting that Fed officials really do not know what to do. And perhaps due to this miasma of doubt, Celente is sticking to his forecast for a “major equity market correction by year’s end.”
Our conclusion would be a bit broader than Gerald Celente’s. Regardless of what the Fed does or doesn’t do, and regardless of the reasons for it, the ineptness that the Fed is showing is incredibly damaging to the institution. Policymakers are giving virtually contradictory statements and as Celente has shown us, even the justifications for Fed actions change from week to week.
Recently we wrote the Fed’s dithering may be purposeful. The idea is to act paralyzed while the market sells off piecemeal, allowing the Fed eventually to raise rates without a market “event.” But even this speculation doesn’t take the Fed off the proverbial hook. People are going to be angry regardless, as this upcoming recession – really a continuation of the 2008-2009 slump – is simply too much to bear.
The dotcom disaster of 2001, the subprime bubble that ate the world’s economy only seven years later and now a further looming “recession” that comes on the heels of a Great Recession that never dissipated is a concatenation of disasters that will undermine the Fed in ways that the enemies of central banks have never been able to do in the modern era.
People don’t necessarily believe what they read, but they do trust their own eyes, ears and bellies. Whether the Fed hikes or doesn’t hike at this point is almost immaterial. The plot itself has been mislaid and the ramifications will haunt the Fed as its reputation unravels.
This is serious business. Without speculating on the “whys,” one can certainly anticipate that a crisis of confidence in the monetary system will create uncertainty about the dollar and about the sustainability of Western economies generally.
This is not to say that markets will inevitably crack asunder. There may be several more boom years as central banks do everything they can to raise the averages and sustain the appearance of prosperity. But at some point, a creeping crisis of confidence will begin to destroy what’s left of middle-class wealth and prosperity in ways central bankers can’t counteract because they will be seen as primary instigators of the problem.
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Self-regulating systems don't fall apart, only systems imposed by arrogant fools who claim to know what's best for others.
We passed 250% GDP debt death spiral in 1998. The Fed is just looting the carcass. Reagan a pos if there ever was one.
POS is a requirement for the job of POTUS.
The bastards haven't "lost control"... not by any means. I'll believe that when I start to see an actual and honest answer to their diabolical machinations in the form of a political movement with teeth. They will have "lost control" when the ideas iterated by said opponent are aired unfiltered and uncensored. We have a long way to go.
The POTB have not lost control until they are hung like decorations on the Christmas Tree of Liberty.
Best Christmas present ever ?
All that is needed to put an end to the insanity is for 80 million working Americans to withdraw everything they can from the banks and purchase gold. End of Fed in a week.
That's exactly the reason for the extreme manipulation of gold and silver prices. They don't want the sheep to panic.
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.
Surely some revelation is at hand;
Surely the Second Coming is at hand.
The Second Coming! Hardly are those words out
When a vast image out of Spiritus Mundi
Troubles my sight: a waste of desert sand;
A shape with lion body and the head of a man,
A gaze blank and pitiless as the sun,
Is moving its slow thighs, while all about it
Wind shadows of the indignant desert birds.
The darkness drops again but now I know
That twenty centuries of stony sleep
Were vexed to nightmare by a rocking cradle,
And what rough beast, its hour come round at last,
Slouches towards Bethlehem to be born?
william butler yeats, the second coming, 1919
I'll believe it when the people responsible for 9/11/2001 are brought to justice, plus the living offenders in a long line of deep state crimes all the way back to 11/22/1963 (yes, at least two of those people are still living after 52 years - better late than never)
one of them, george h.w. bush laughed when speaking at gerald ford's funeral. the topic was ford's assistance to the warren committee in determining that oswald was the lone assassin.
talk about your cocky tell.
https://www.youtube.com/watch?v=wE1RPuvMZYY
A collectivist political movement is not required for TPTB to lose control. All we really need to do is remove our labor from their system and they will lose the resources to propagate the system.
Exactly.
Ergo: POS = piece of shit
TU = teleprompter using
POTUS = piece of teleprompter using shit
There have been good Men in office, but since 1963 at the least not a one has had the power to stop TPTB.
We could even go back to 1913, which is ultimately why Kennedy was eliminated in 1963.
Cleanest dirty shirt.
Closed looped cybernetic systems are not 'self-regulating', and they are all subject to the Entropy Laws like the Second Law of Thermodynamics, negative entropy, and system rundown over time.
The powers that be have lost control.
What a crock of shit.
One day we will have a revlolution. Need a deeper crock to put the shit in.
Hey, Miffed Microbioligist...never had a chance to say goodbye.
Goodye.
What happened to Miffed? I saw she hadn't posted in some time, and knew her and her family had some health concerns...I do wish the best for her, regardless.
I lurked some back pages. Apparently, she took a rain check and said fuck this place. Too bad...smart lady. However, as long as people write GOLD BITCHEZ and BERNANAKE SUCKS CAMEL DICK...this place will survive. Trump is a frontrunner..so..really...page views galore.
Thanks for the update. My background is in microbiology, so I appreciated where she was coming from. Learned some stuff about Ebola from her. And she wasn't afraid to write what she thought and stick by it, red arrows be damned.
GOLD, BITCHEZ. In honor of Miffed.
Thanks grand Tetons and implied violins!
I just received an email from akak ( a veteran of ZH who was quite helpful to me for " getting my wings" in my early days here) pointing to this thread. He is alive and well for all who care to know.
Life has taken me in a different direction for now so I will be lurking rather than posting. If there is an unforeseen black swan of a microbiological nature, I shall return for the man on the street perspective if I can provide any useful information. That is, if I hadn't been vaporized already as a first responder. I think may old timers here will do the same if the catastrophe is of an economical nature. Old soldiers never die, they just fade away. ;-)
I miss you both and others here as well.
In respect always,
Miffed ;-)
https://www.youtube.com/watch?v=nyDFfVMTGW0
See what happens whien I give Clyde my login info? Got your contact request. I got no fucking idea how to chat in this shithole. The god damn ape will figure it out.
Take care!!! Glad to here you are doing well.
Next time you pass a street musician toss him an Oreo...I heard they like that.
Philo Tetons.
Thanks, Akak.
Vlad
Damn, I was going for a quick in and out and you seduced me back for a sloppy second.
So here is a personal high five to you I wished to have given you a couple of weeks ago. An old timer great. A rose by any other name. A last of a dying breed here. See you on the other side and the first round is on me.
Miffed;-)
Hey, thanks for the drive-by! I may not be an old-timer, but I definitely appreciate your takes on things, even when I may have thought differently. You made me think, and adapt when it turned out I was wrong and you were right. I appreciated that about you - and this site in general. Thanks again, and I do think we'll be seeing you around - the Ebola thing hasn't played out completely yet, I both fear...and hope!!
MIffed, glad to see you make the stop.
Your wisdom is missed. There was much information that you have shared.
I know that my account is only few months old but I have been lurking here for years. Tried to get a login a long while back and the bastards would not let mw in. .. I think they found my desired screen name offensive. LOL.
Anyway, it is good to know that you still visit even if only to read. There are too many great people that have disappeared from here.
I hope that you make a contribution from time to time.
That is a relief about you and about akak.
Whew! Glad you're still lurking! Don't get killed!
The Fed ends as other entities more efficiently price risk. US dollar devaluation also heads in the direction of less US .gov money control.
Things are not falling apart. Not yet anyways. It's only a matter of time but when investors are willing to lend Italy money at negative interest rates the Central Banks are still in control. Only when interest rates and gold rise due to a loss of confidence in central banks will things start falling apart.
Stateside.
good thing u are stateside
The problem is math. Math's a bitch. There are man made laws, and then there are Natural Laws, like gravity and the speed of light.
The piper will be paid.
HOW and Exaclty WHEN it happens is the only unknown .
actually, it is thermo, but your point is taken.
Disgraceful that the elected officials in DC allowed this!
LAUGH TRACK DEAFENING !!!
They didn't just allow it, many participate in it and profit.
Entropy, Second Law of Thermodynamics, Closed Looped Systems, Maxwell's Demon, et cetera.
Note: The one per cent do NOT understand these concepts.
You forgot the sarc tag. Of course the one percent understand it all. Many of the one percent got where they are due to having the engineering mindset, either themselves or their parents, grandparents, etc. Plus they can afford to have the best minds money can buy give them advice about engineering principles and system effects. Plus they have all the inside information on resources. They KNOW very well what is going on and where things will likely be heading at a systems level.
Nyet, they don't have an effin' clue, BuddyEffed.
I appreciate your response, but if Larry Summers, Alan Greenspan, and Robert Rubin, opted to ignore Dr. Rajan's 2006 warning regarding derivatives, they don't understand shit-from-shine-O-la.
Experts have their own problems.
https://thinkpatriot.wordpress.com/2015/10/21/3695/
https://thinkpatriot.wordpress.com/2015/10/02/warning-ideas-are-dangerous/
They do not understand laws of nature. They are neither scientists nor engineers. Even the "brilliant" minds of finance do not grasp these things.
They are the individuals that believe that they can correct any problems that arise and truly fail to realise that when you walk on ice and keep getting fat, one day the ice will break and you will drown.\
They've lost control when the majority of the population wakes up and takes control. I'm waiting. Surely it will come. People are on railroad tracks, mostly. But there is always something powerful enough to cause a derailment. Soon, I would suspect. Hopefully soon.
does this mean i have to turn my obamaphone back in?
A small gift from a GenX'er to the Millenials. These guys have been writing and ranting since the 80's
"Killing Joke are still doing their best to provide a soundscape by which to watch the world explode. With the source material of the planet Earth of 2015, it's unsurprising that Pylon is particularly potent, pissed off and primitive"
http://drownedinsound.com/releases/19077/reviews/4149502
WAR ON FREEDOM
https://www.youtube.com/watch?v=--E5itoejaU
Eventually they will "print" a trillon FRN USD and it will not be enough to buy a dozen eggs.
Zero confidence.
Then add 3 more zeros. (Or ten. Has a nice ring to it: 100 Octillion dollars. I don't know what the next level is called.) Problem solved. There are plenty of zeros left. Plenty of electronic transfers of money to favored banks.
Some time ago I was interested in owning a large denomination Zimbabwe note... like a ten trillion note or some such, just to hang on the wall as a testament to the idiocy of governments and banksters. Glad I waited. Unless they eliminate the USD, (an imminent move that I believe is entirely probable) soon I'll be able to own a ten trillion US note.
Put me in charge of setting interest rates. I'd do two things and hold... establish a 5% interest rate and freeze it, and eliminate fractional reserve banking and done.
Long long ago in a far away galaxy the Daily Bell was a great place,,, a lot like ZH in an earlier time. I posted there many times,,, then overnight they started to change,,, finally eliminated posting altogether. Then they returned but posting was more difficult and subject to censor...
Have no idea what it's like now, haven't been there for years but for a small time it was great.
Agreed. Simply don't know the reasons they change, but too many trolls can alter the setting. I mean we should be able agree to disagree, respectfully, on topic, without all the other b.s. and obscenities.
Serious question:
Could it be that the Fed, dictated by Goldman Sucks, can never raise rates for the reason that the "too big too fail banks" in the US have an enormeous exposure to derivatives ??
JPMorgan Chase
Total Assets: $2,573,126,000,000 (about 2.6 trillion dollars)
Total Exposure To Derivatives: $63,600,246,000,000 (more than 63 trillion dollars)
Citibank
Total Assets: $1,842,530,000,000 (more than 1.8 trillion dollars)
Total Exposure To Derivatives: $59,951,603,000,000 (more than 59 trillion dollars)
Goldman Sachs
Total Assets: $856,301,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $57,312,558,000,000 (more than 57 trillion dollars)
Bank Of America
Total Assets: $2,106,796,000,000 (a little bit more than 2.1 trillion dollars)
Total Exposure To Derivatives: $54,224,084,000,000 (more than 54 trillion dollars)
Morgan Stanley
Total Assets: $801,382,000,000 (less than a trillion dollars)
Total Exposure To Derivatives: $38,546,879,000,000 (more than 38 trillion dollars)
Wells Fargo
Total Assets: $1,687,155,000,000 (about 1.7 trillion dollars)
Total Exposure To Derivatives: $5,302,422,000,000 (more than 5 trillion dollars)
Wells Fargo got some catching up to do.
Can you believe that someone actually pays those money center banks for each one of those fraudulent transactions? Sorry, I should have said "bets with OPM." (Other People's Money)
The reason that I have heard, it's the debt outside the US. Think Greece, Ukraine and all other emerging markets. Unfortunately their debt is in USD and when the Fed raises rates, there'd be a whole heap of countries falling in a hole. That will cause a big crash and the domestic US situation will be part of it.
But the economy is always an equation with an unknown number of variables, so nobody really knows what would happen. If they were on top of it, they could have prevented the 2008 crash, but maybe they wouldn't have wanted that. Maybe they planned for a little crash, called correction, and like always - hoops!
It's like flying a plane into a building; you can get a big hole and have some floors destroyed. That happened in NY in the 1920s or so. But you can also fly a plane into a building and think that will happen, when unknown to you the building has a construction like a card house and instead of punching a hole everything falls in a heap.
I want to blame someone! The IMF always looked so serious to manage the world economy and then managed it into the ground = not fit for purpose. When some people wanted reforms for the IMF, Congress disallowed them. So - Congress rules over the IMF, IMF remains incompetent. We will probably not see any improvements in the world economy until the current not-fit-for-purpose structures are improved.
Granted, I stopped following the "Follies Bankstairs" some time ago, but the last I knew all the US banks unloaded their derivatives (At least the 2 TN of home mortgage derivatives) onto the FED's balance sheet so they'd have "interest bearing assets" on their balance sheets instead of zeroes of no known value, so they could pass the "stress tests". If the megabanks went out after being bailed out and reloaded up with more of the same, then I'd let them crash and burn.
Oh... and I'd have Gongress re-enact Glass Steagal in all it's Bankster smacking glory.
Fuck Janet Yellen. Janet's polishing the brass on the Titanic. It's all going down, man... [/Tyler Durden, Fight Club]
THE SECOND COMING
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.
Surely some revelation is at hand;
Surely the Second Coming is at hand.
The Second Coming! Hardly are those words out
When a vast image out of Spiritus Mundi
Troubles my sight: a waste of desert sand;
A shape with lion body and the head of a man,
A gaze blank and pitiless as the sun,
Is moving its slow thighs, while all about it
Wind shadows of the indignant desert birds.
The darkness drops again but now I know
That twenty centuries of stony sleep
Were vexed to nightmare by a rocking cradle,
And what rough beast, its hour come round at last,
Slouches towards Bethlehem to be born?
Did you have to fucking do that?
Yeats has taken on a whole new posthumous career as the poet laureate (and deus ex machina expedient) of nonplussed authors describing a collapse that stubbornly refuses to happen. The typical doomer blog post has a tripartite anatomy that is as predictable as it is persistent.
1. Elegize over the crimes of the powerful.
2. Predict imminent disaster.
3. Quote Yeats.
I've read that poem probably two dozen times in the last decade, and always at the bottom of some internet cowboy's weepy missive decrying the shenanigans of sleezy politicians and bankers. Richard Fernandez over at Pajamas Media usually couldn't resist tossing it in at least once a week. In light of this negative development I'm going to expound a bit on my theory of quotations.
The usefulness of the quotation as a stylistic element in rhetorical writing is dependent upon an implied esotericism. One has to give the impression that the quotation is a rare pearl of wisdom excavated at great pains from deep in the stacks of some ancient library, which uniquely and pertinently characterizes the essence of some thorny problem; and that it does so because it is the fruit of long meditations by sagacious persons, and that similarly, long meditations upon the quotation by the reader will begin to unfold and reveal the wisdom contained therein. The quotation as koan: that is the foundation of its rhetorical significance. Or to put the matter another way, every essay is but a long footnote to a great aphorism.
Needless to say, the overused quote contains no such potency. It quickly degenerates into cliche, and ends up by losing its original meaning entirely. There are many examples of such "dead quotes," for instance Shakespeare's "The lady doth protest too much" (which people now use to mean "you're too whiney," but which originally meant that such vigorous protestations of innocence can only be a sign of guilt) and F. Scott Fitzgerald's "There are no second acts in American lives" (which means that American lives are all exposition, like the first act of a play, and never graduate to the drama and heightening tension of the second act; but people now use it to mean that American lives contain no second chances, i.e. you either make it big or you go bust).
The ability to use quotations judiciously and to good effect is the hallmark of an educated and literate society, where the benchmarks and standards of what constitutes true genius are still held in high esteem. It is numbered among those facets of cultural life that the internet has definitely not improved.
I enjoy quoting Southpark, but I'm a dumbass Nutjahb. Respect my author-i-tah!
https://youtu.be/B29eyEbyt3o
How does someone down arrow what you wrote? lol
English Major Much?
The Kleptoligarchy never sleeps.
The M.I.C. hand-in-hand with the banksters, the new aristocracy, and the mandarins of .gov, in nearly every nation.
Winding up a giant spring they are, which when entropy sets it loose will roil humanity and maybe even destroy it.
Too many folks in the "alternate [media] crowd" accept [without thinking [enough]] too many nonsensical mainstream media propaganda soundbites.
This article reminds me of one of the most popular ones today... that "a lower currency is better for the economy".
That's not true. Or to be more precise, that's not universally true.
For example, in the USSA, where imports greatly exceed exports, a strong currency is better. Why? Because the USSA is buying more than they are selling. As such, a strong currency has more advantage than a weak currency.
In an area where exports greatly exceed imports, clearly the opposite is true.
Yet, the soundbite "a low currency helps the economy" is repeated endlessly without qualification.
But the predators in the federal reserve clearly understand what I said... that they and the USSA benefit from a strong dollar. Since the federal reserve produces and sells nothing, but simply buys stuff with their salaries, bonuses and endless under-the-table money-shuffling, they benefit most. But the USSA benefits too, for the reasons I mentioned.
This is the reason for the recent nonsense spewing out of the federal reserve. They don't want to raise rates, because they and their fellow banksters and financial predators love "free money" to fleece the manipulated non-markets they dominate. But they also want a strong dollar, which they know is incompatible with "free money" (zero federal funds rate).
And so, to keep this scam operating as long as possible, they must pretend:
#1: The economy is good and getting better.
#2: And thus we will raise rates soon.
This convinces those who frontrun everything out of the mouths of predators to keep the dollar high.
That's the whole scam, clear as can be.
Fortunately, the number of folks who are starting to see through this is growing... now up to one in a million, and growing.
"now up to one in a million, and growing." Thats funny Annie.
.
History has yet to record the brilliance of Ronald Reagan. No one person on the planet is perfect. Not even Putin. It is probaby not fair to close the book on Reagan until Operation Stiillpoint, begun in Dec. '81, is complete ..
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp (Read Me First)
From my perspective and analysis, Ronald Reagan seems to have had good instincts and values, although these were somewhat warped and manipulated by cultural mantras of a Statist culture.
"(Freedom) must be fought for, protected, and handed on." --Ronald Reagan
So fight the good fight my freedom-loving fellow Americans, and bloat the military industrial congressional complex. Make sure the CIA, FBI, and DEA get whatever they want. Raise taxes every year, triple the federal budget, create new bureaucracies, sell arms to Iran in violation of sanctions, illegally funnel funds to overthrow unfavored governments abroad... all while condemning the government as the enemy! Conservatives will never remember! And never fear: piling on exponentially increasing deficits is totally sustainable until the end of time... and the path to freedom, no less! Just ask Lloyd Blankfein, Jamie Dimon, and the Fed gang.
It's all coming down folks. Hope you made a SHTF plan and gathered the resources to execute on it.
Heard this 10 years ago.
it will happen. But could be decades.
pessimissim porn is fashionable.
Money tickles up through the following mechanism:
a) Those with excess capital invest it and collect interest, dividends and rent.
b) Those with insufficient capital borrow money and pay interest and rent.
You can make money when you have Capital without any hard work but through your investments.
Inheritance is the mechanism by which wealth concentrates giving the next generation a great Capital base to start with.
Rich parents also pay for the private schools and Universities that give the best education where you make the right contacts to set you on the best possible path.
Social mobility in the US is lousy and rich parents are the key not hard work.
http://www.oecd.org/centrodemexico/medios/44582910.pdf
The American Dream is just that.
The wealthy now have a system in place that separates them from the rest and the elites of all types; business, financial and political spend their lives just mixing with each other, all ready for the formation of a self-serving oligarchy
With concentrated wealth the imperative is conserving fortunes and not creating them, society’s dynamism is stifled.
Finance becomes the main concern, where the wealthy can invest and grow their existing fortunes.
There is too much risk in starting up your own companies, making new products and providing new services, you don’t want to put all your eggs in one basket.
The systems and mechanisms the wealthy put in place to conserve their wealth destroy the system which is why all great civilisations fail and new ones arise.
You can still move up and do it by hard work and smarts.... or be very lucky.
For example had Marc Cuban not sold his internet company when he did he would be a stock boy in some supermarket today.
There were many like him that did not get out before the internet bubble burst. They went from millionaire to burger flipper in a very short time.
A good old fashioned currency crisis should liberate the markets in the US.
Until then it's just more Ponzi.
http://endoftheamericandream.com/archives/goodbye-middle-class-51-percen...
NOTHING gets better until YOU march and raise hell.
If WE stop acting like we're fucked, and that there's nothing we can do about it, then...
...we ARE fucked, and there's nothing we CAN do about it.
We've seen what THEY can do.
What can YOU do?
m
"Things Fall Apart"
What happens in the down phase of a cycle.
Every boom ends in a bust.
Every bubble bursts and deflates.
Things fall apart.
Your statement, "People don’t necessarily believe what they read, but they do trust their own eyes, ears and bellies." is incorrect. Groucho Marx said in a movie, "Who are you gonna believe? Me? Or your own two eyes?" Past generations believed their eyes, but those today believe what is said by Yellen, Obama, Clinton, etc.
The fed' playbook was written with the experience of generations of Fractional-Reserve bank operators, with combined millenia of experience in the allocation of limited collateral to the task of ensuring the survival of the biggest banks.
In allowing the removal of the collateral from the base of their system, they've rendered their playbook useless.
This is serious business. Yup, the falling apart will continue through to about 2050?
Then business will turn really mean.