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Animation: America's Metamorphosis To A Welfare State

Tyler Durden's picture


Still confused why there are those who call America the USSA? Don't be. As the following animation from the NYT so vividly shows, government benefits across the US have nearly tripled from a modest 7.8% of all personal income in 1969 to a 'European' 17.6% in 2009. And this before Obama went to town (as a reminder total debt has risen by over $4 trillion under Obama - a significant portion of that has gone to fund social welfare). Thus, we are confident that as of this writing, the government accounts for at least 20% and possibly as high as a quarter of all personal income. One can use any word to describe that transition depending on one's personal political preferences, except for one: "sustainable."

Source: NYT


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Sun, 02/26/2012 - 15:06 | 2198294 GeneMarchbanks
GeneMarchbanks's picture

Peak 'productivity' is real. No debate.

Sun, 02/26/2012 - 15:11 | 2198308 earleflorida
earleflorida's picture

the subtle shades of a nuclear winter when ignorance sustains arrogance, and arrogance, and begets animosity for thy keepers

Sun, 02/26/2012 - 16:01 | 2198460 ratso
ratso's picture

Interesting to see that it is the red states that receive the most government assistance.  These are the same states that are rejecting and complaining about Obama all the while taking all the help they can get - nice.

Sun, 02/26/2012 - 16:07 | 2198485 Shocker
Shocker's picture

Very good Graph, Its sad to see how not far we have come.

All assistant programs and everything are great safety nets for temporary situations, they were not intended for long term use.

The problem/question is, we have got to this point.. is there any way to reverse it or does it just continue to grow

Sun, 02/26/2012 - 17:06 | 2198636 Stuck on Zero
Stuck on Zero's picture

There's a very simple way to reverse the problem.  No work no pay.  To receive a handout you must work for it.  There are millions of jobs out there.  Examples: cleaning roadways, building infrastructure, patching potholes, building and maintaining trails, sorting, posting, stocking, ...   I don't need to go on.  If someone comes to the welfare office asking for aid a job is found and assigned.  These can be subsidized private sector jobs.  For the same price the government receives something in return. 

Sun, 02/26/2012 - 18:00 | 2198737 hadriansnightmare
hadriansnightmare's picture

Be damned if I'm going to hire a referrel from the welfare office.  Apparently you never had to handle employees.  You would have 10 disability/workman's comp cases on your company in a week.  Rake leaves in the park-maybe....


Sun, 02/26/2012 - 18:06 | 2198752 Hugo Chavez
Hugo Chavez's picture

Now that is true.

There is no one more motivated to find a way to hurt themselves on a mandatory welfare job than someone who is applying for disability, yet forced to work. About a third of these injuries that come across my desk seem self induced. Once this class of rats figures out they can take your acreage by having an injury on your property, even if you have no tresspassing signs, then things are gonna get even worse.

Sun, 02/26/2012 - 19:23 | 2198935 Xkwisetly Paneful
Xkwisetly Paneful's picture

Interesting to see no matter how obvious it becomes the earth is flat crowd will still be around.

Sun, 02/26/2012 - 19:46 | 2198971 Hugo Chavez
Hugo Chavez's picture

Most of my career has been spent working with the disability, welfare, and medicaid crowd. I have seen all the tricks in the book. Fake slip and falls are not as common anymore in densely commercial areas due to video monitoring. They are now ocurring in other places. It is growing and there is nothing that can be done to stop it unless juries wise up.

Sun, 02/26/2012 - 20:16 | 2199038 memyselfiu
memyselfiu's picture

OT, but check this out...

Apparently part of it is allegedly accusing a Swedish leader of being a spy for the US since the 70's....

may answer the question of why Assange is actually being raked over the coals....

Sun, 02/26/2012 - 20:31 | 2199072 zkay
zkay's picture
WikiLeaks begins publishing 5 million emails from STRATFOR



  6. Monday 27 February 00:01 GMT 2012
  8. The Global Intelligence Files
  10. Twitter tag: #gifiles
  13.     Monday 27 Feburary, noon, Frontline Club, 13 Norfolk Place, Paddington,
  14. London, W2 1QJ.
  16. LONDON--Today WikiLeaks began publishing The Global Intelligence Files – more than five million emails from the Texas-headquartered "global intelligence" company Stratfor. The emails date from between July 2004 and late December 2011. They reveal the inner workings of a company that fronts as an intelligence publisher, but provides confidential intelligence services to large corporations, such as Bhopal's Dow Chemical Co., Lockheed Martin, Northrop Grumman, Raytheon and government agencies, including the US Department of Homeland Security, the US Marines and the US Defense Intelligence Agency. The emails show Stratfor's web of informers, pay-off structure, payment-laundering techniques and psychological methods, for example:"
Sun, 02/26/2012 - 21:02 | 2199139 economics1996
economics1996's picture

Currently, 2011, the US spends 65.1% of the federal budget on payments to individuals or $3.7118x0.651= $2.416 trillion / $15.2943 = 15.8% of the GDP.  54.1% is direct payments.

Sun, 02/26/2012 - 21:08 | 2199147 economics1996
economics1996's picture

What should be noted is the growth of mandatory entitlements from 5% of the GDP in the 60s to 13.5% of the GDP in 2011.

Mon, 02/27/2012 - 00:40 | 2199686 JW n FL
JW n FL's picture


that is called sourcing your information.

Sun, 02/26/2012 - 20:20 | 2199044 savagegoose
savagegoose's picture

we can take what now?

Sun, 02/26/2012 - 18:01 | 2198739 Hugo Chavez
Hugo Chavez's picture

Why woyld someone junk you? What is wrong with requiring people to pick up trash or whatever in return for welfare, food stamps, and subsidized housing?

Sun, 02/26/2012 - 19:44 | 2198966 The Fonz...befo...
The Fonz...before shark jump's picture

Agreed there is dignity in all work.... I often wondered that as well...why not have them mobilized to do any kind of work (part time) of course and the othe other half they can use to find a job...

Sun, 02/26/2012 - 21:28 | 2199176 Bringin It
Bringin It's picture

We need to get rid of corporate welfare [Solyndra] before we bust out the chain gangs for welfare workers.  Just keeping things in perspective.  I noticed some of those places with high payouts are Indian reservations and there certainly entitled to what ever they can get back.  Lots of farmers get paid not to plant.

Sun, 02/26/2012 - 21:34 | 2199188 Xkwisetly Paneful
Xkwisetly Paneful's picture

They stopped paying farmers to not plant 30yrs ago.  I love when the big government promoters turn the farmer into bad guys.  It is hilarilous, planet earth here: need food, fuel, banking system and military to operate a country in the modern world, don't need thousands of federal agencies doling out social benefits.



Mon, 02/27/2012 - 00:13 | 2199624 Bringin It
Bringin It's picture

I'm not a big government promoter you douche-bag. 

And as far as farm subsidies go, these guys say it's over $40B/year with many of the recipients living in places like ... New York City!!

Despite Claims of Reform, Subsidy Band Marches On

I love farmers.  I am a farmer.  No, I don't get any subsidies.

Mon, 02/27/2012 - 00:44 | 2199694 JW n FL
JW n FL's picture



Farm Programs Rain Cash on Urban Billionaires, the Dead

10 / 18 / 2007

As the Senate debates a five-year, $286 billion agriculture-subsidy extravaganza, consider the heartwarming rhetoric about saving family farms. Who ever imagined such families included the Rockefellers?


Mark Rockefeller Gets Farm Subsidies From Taxpayers


Mon, 02/27/2012 - 12:36 | 2200673 FrankDrakman
FrankDrakman's picture

Your marklar is strong and true, young marklar.

One of the biggest problems with not having a job is the inertia and rhythym you get into once you're on welfare. No need to get up in the morning, and you are probably depressed, so you sleep until 10 or 11. Then, come midnight, you're not sleepy, so you decide to watch Jon Stewart, just to keep up with the fake news. Then, of course, you have to watch Colbert, and then catch the last hour of Ferguson, and hey, it's 2 am, but TCM has a great old movie on, and it's 3:30 before you toddle off to bed, to start the whole cycle over again.

Having to do any kind of work ensures you get up in the morning, and get moving. Then, by all means, spend the second half of the day finding a job, getting help with your resume, networking, etc. That's a much more effective way to get people off welfare than cutting benefits outright.

Sun, 02/26/2012 - 18:05 | 2198749 blunderdog
blunderdog's picture

This is one of the super-obvious suggestions that sounds like a good idea right until you've thought about it for a half a second.  Like employ the brain and actually consider the implications for just a moment.

Dude: the people who currently DO those jobs don't want to compete with free labor.  You say a welfare recipient should be filling potholes?  Brilliant, except the folks who fill potholes make over $25/hr and will burn down city hall the minute you put them out of work for the benefit of the folks with no skill or experience. 

What do you do for a living? 

Do you think you'll be able to continue doing whatever it is if 40 million Americans had to do it so they could get foodstamps?

(It's really easy to convince yourself how talented and gifted you are as long as you're properly protected from the competition of the other 7 billion people on the planet.)

Sun, 02/26/2012 - 18:11 | 2198766 Hugo Chavez
Hugo Chavez's picture

Obviously there are complications. Most programs that require work for recipients cost more than just giving someone a check for nothing. However the moral principle is important. If you can do anything at all in return for your government handout then it is morally imperative you do so.

Sun, 02/26/2012 - 18:29 | 2198808 blunderdog
blunderdog's picture

Right, one of the crucial roles of the Federal government is to enforce a preferred "morality" on the commoners.  Go tell that to the libertarians. 

Maybe we could even become a theocracy like in all really nice parts of the world.

Sun, 02/26/2012 - 18:58 | 2198881 Hugo Chavez
Hugo Chavez's picture

I would prefer not to enforce anything on anybody. If you dont work and dont have resources nor family to support you then anything you get should be from voluntary private charity, not forceably extracted from taxpayers.

If I am forced to give my money to people in the form of welfare or subsidy, then they can damn well work for it.

Sun, 02/26/2012 - 19:00 | 2198887 Hugo Chavez
Hugo Chavez's picture

So it makes me a theocrat because i dont think people are entitled to government freebies without any strings attached?

Sun, 02/26/2012 - 21:09 | 2199148 blunderdog
blunderdog's picture

No, it makes you someone who can't seem to think through the implications of your personal desires.

I'm not in favor of the welfare state.  I'm still capable of understanding the factors that led to its creation and maintenance.

If you want to make major changes, you have to start by rethinking the underlying *conditions* that got us here.

Sun, 02/26/2012 - 21:45 | 2199203 Xkwisetly Paneful
Xkwisetly Paneful's picture

Not really. The assertion that the GES and Walmarts of the world are behind it is beyond ludicrous.

Maybe one day you people will notice that besides the obvious direct benefactors of having 50million on food stamps, the folks who directly administer it,  that the pension funds including public union pension money are amongst the largest owners of stocks of these corporations.

As they are the military ones, the outsourcing ones and much of Wall St.

Which makes the entire diatribe aweful hard to reconcile.

But don't let that get in the way, afterall having an underclass who's existence is commensurate with royalty in parts of the world is socio economic fail on

BTW good code in the first post, don't want the destitute taking grossly overpaid union jobs or anything. 

Sun, 02/26/2012 - 21:57 | 2199237 Calmyourself
Calmyourself's picture

Ah, finally this smart fella here has described a perpetual motion machine for us dimwits..  Really pal..  Union pension funds hold stock the welfare folks do business with so the Gov hands out free money, that is the best you got?

Sun, 02/26/2012 - 22:14 | 2199271 Xkwisetly Paneful
Xkwisetly Paneful's picture

Really pal, impoverishing the nation is in the best interests of GE and Walmart so much so that they are the ones behind it, I read it on

It is so obvious that the big government promoting imbeciles are, have always been and will always be behind it.  Not only those who are direct profiteers, you know the perpetual motion machine- the beaurocrats and corps who administer it but those idealististic rule from an ivory tower idiots who think they can alter the path of water, their enablers-the ultra rich big government promoting imbecile who uses the government as a means to prevent others from becoming super rich.

What  a pathetic joke this place has become blaming the welfare status of the country on the corporations when it is wholly on the government and long in place before it was as corrupted as it is now. 

They invented outsourcing yesterday, doubling the workforce with women was supposed to have no effect on wages or jobs, the 35% government burden on full time hires has nothing to do with one having to be on LSD to start a labor intensive business in modern america and the watered down education system is benign,

GE and Walmart purposefully impoverished the USA, I read it on so it must be true.


Sun, 02/26/2012 - 23:24 | 2199489 blunderdog
blunderdog's picture

You're really crazy.  Get help.  You aren't making sense.

If this place is so stupid, please go somewhere where your brilliance will be appreciated.

Or at least comprehensible. 

Sun, 02/26/2012 - 23:41 | 2199544 Xkwisetly Paneful
Xkwisetly Paneful's picture

No GE and Walmart are really behind all of this.

Feigned ignorance, good move.

and I am the one who needs help.

Surrender noted.


Sun, 02/26/2012 - 23:46 | 2199555 blunderdog
blunderdog's picture

If you state your case, I'll be happy to address it.  But you've just presented a really strange strawman.  It's bullshit--there's nothing sensible enough to discuss.

Sun, 02/26/2012 - 22:02 | 2199248 Totentänzerlied
Totentänzerlied's picture

Let them (the welfare recipients) do what we consider volunteer work - staffing soup kitchens and food banks and such, or doing unskilled government labor. Who maintains Section 8 housing? Let Section 8 recipients do it.

However you have to realize making them work will discourage them, and limit their ability/time to search for, regular jobs. It would not be wise to expect someone who just did an 8/9 hour shift to be able to hunt for regular employment as well or as much as someone with more time. We know the subgroup which really is milking the system (however large a percentage you think that is of all welfare recipients) isn't out looking for work all day, but some portion of welfare recipients are and would be counterproductively burdened by having to work while searching for work.

What this doesn't address is the so-called livable wage. If there has to be some form of safety net, why not a minimum income guarantee (direct transfer payment to individuals below some income threshold) instead of a minimum wage which distorts the entire labor market?

Of course none of this will or ever could work because the premise is flawed, that premise being that the government could possibly care any less about what welfare recipients do or how the welfare state distorts the entire economy. Proposing any form of welfare reform is nothing but an invitation to be mercilessly insulted and cursed at while being piously accused of hating poor people and/or minorities. It's just another third-rail.

Sun, 02/26/2012 - 23:30 | 2199512 blunderdog
blunderdog's picture

One thing that most of the "reformers" have never understood is that, although there is certainly graft and corruption, the majority of people who are living off the welfare system are people who have serious enough problems that they CANNOT WORK.

In this very thread, you'll find a poster who writes about his father, now unable to work because he lost a leg.  Obviously, there is certainly plenty of stuff he could be required to do if he wants to receive disability or SocSec or whatever.  The problem is that there are ENORMOUS administrative costs in centrally planning every individual's role in an economy.

And what's interesting is how many of these same reformers, aggravated by the maintenance of the welfare state, have all the perfect solutions for how the economic deadbeats could be fitted into SOME productive role, but simultaneously purport to oppose a centrally-planned economy.

One thing's for sure--it's hard to fix stupid.

Sun, 02/26/2012 - 18:50 | 2198861 dogbreath
dogbreath's picture

I think the suggestion was that there are many jobs going undone because of the cost.  Like sweeping, raking, picking trash.  one of the reasons why we are so fucked is labor has outpriced itself to do all these menial jobs that no longer get done.  so is this free labor in competition with those who already have job doing this work??  Hardly.  benefits are paid from your neighbors pocket so why shouldn't the taxpayer expect to have the grass cut or the trash collected.   These are minimum wage jobs that everyone expects to get 20+ bennies per hour for.  If you don't wan't to do shit jobs learn how to do smarter ones.  Lazy welfare cocksuckers who have money for smokes, beer, cable TV, and other luxuries when thay could stand to lose 100 pounds

Sun, 02/26/2012 - 21:10 | 2199153 blunderdog
blunderdog's picture

  Like sweeping, raking, picking trash.

That's interesting.  You live somewhere in the USA where these things don't get done?  That's usually a ghetto.

Mon, 02/27/2012 - 04:36 | 2199922 dogbreath
dogbreath's picture

i don't live in the USA.  around here pot holes, garbage and sweeping are not getting done

Sun, 02/26/2012 - 20:57 | 2199127 get your snake oil
get your snake oil's picture

how many more Post Office's do we need?

Sun, 02/26/2012 - 20:04 | 2199009 ChacoFunFact
Sun, 02/26/2012 - 20:06 | 2199016 cranky-old-geezer
cranky-old-geezer's picture



All assistant programs and everything are great safety nets for temporary situations, they were not intended for long term use.

Unfortunately long-term government assistance has become the norm as the economy continues sinking further in depression. 

For example unemployment compensation has been extended to 99 weeks and beyond. That's never happened before.  Millions of people on unemployment will not find a job in the foreseeable future, meaning unemployment compensation will have to be extended again and again.

It's gone on 3 years now, not really long for a depression, but there's no indication of a real upturn.  It's structural economic depression, not temporary, and it'll go on a while because no fundamental changes are being made.  What caused it is still happening.

Mon, 02/27/2012 - 04:07 | 2199905 Zero Govt
Zero Govt's picture

it's a good graph in that the spread of socialism is coloured in a darkened blood red colour ..kind of what a cancer looks like

Sun, 02/26/2012 - 16:17 | 2198508 calltoaccount
calltoaccount's picture

what % of the debt increase went to fund banks domestic & foreign, and other industries (oil, nuke, agri, etc.) subsidized by stealing from taxpayers?

Sun, 02/26/2012 - 17:06 | 2198635 roadhazard
roadhazard's picture

The American worker/taxpayer is not getting near enough of the pie. If the People were getting the money there would not be enough for everything from 11 carrier groups to subsidizing foreign adventures to bailing out American & European banks. Yeah, those welfare queens and hippies and retired folks are the bitches, my ass. Sell that shit somewhere else.

Sun, 02/26/2012 - 18:15 | 2198775 Hugo Chavez
Hugo Chavez's picture

All welfare needs to disappear, including military welfare and banker welfare. There is no hypocrisy on this point among libertarians. It is all corrosive to moral values and civic virtue.

Sun, 02/26/2012 - 20:35 | 2199080 LaLiLuLeLo
LaLiLuLeLo's picture

I'll take it one step further. Man can circumvent the laws of nature for so long, then it gets  to a breaking point (now) and people start to die. Darwanism is a bitch

Sun, 02/26/2012 - 18:16 | 2198777 AldousHuxley
AldousHuxley's picture


republican party used upper middle class and religion to justify enriching top 0.01% by making capital gains tax half of income tax+FICA

You don't make $10,000,000 / year through merit alone.


Income distribution curve is not a straight is a sick exponential curve.


Executive pay...and most people know that executives at Fortune 500 don't do shit except give a big lipservice about how workers are the companies best assets.

Sun, 02/26/2012 - 18:24 | 2198798 Xkwisetly Paneful
Xkwisetly Paneful's picture

Don't end up with obese folks who own cars and homes being labelled "poverty stricken" by any means without perpetually describing poverty as the bottom 1/6th or it will exist at the same identical level forever.


Half the world lives on $2 a day or less, the difference between the avg US CEO and the avg US mininum wage worker is teeny by comparison.

Sun, 02/26/2012 - 19:50 | 2198978 CharlieSDT
CharlieSDT's picture

When do we start geting to kill a banker a day?  I heard they were going to let us do that.

Mon, 02/27/2012 - 02:36 | 2199859 Milestones
Milestones's picture

Nope! Gotta have a bull or cow tag license first--gotta give every one an equal chance.           Mileatones

Sun, 02/26/2012 - 22:51 | 2199397 JW n FL
JW n FL's picture





republican party used upper middle class and religion to justify enriching top 0.01% by making capital gains tax half of income tax+FICA

You don't make $10,000,000 / year through merit alone.


Income distribution curve is not a straight is a sick exponential curve.


Executive pay...and most people know that executives at Fortune 500 don't do shit except give a big lipservice about how workers are the companies best assets.





Mon, 02/27/2012 - 02:43 | 2199864 Milestones
Milestones's picture

Incredible charts--far worse than I imagined.  Thanks for the info.          Milestones

Sun, 02/26/2012 - 20:48 | 2199110 Shigure
Shigure's picture

The welfare system is a direct consequence of allowing the banks to create money.

Problem with Money System:

Sun, 02/26/2012 - 16:17 | 2198511 midtowng
midtowng's picture

I don't think this graph includes the biggest welfare recipients of all: corporations.

From the banksters who got the bailouts to the military contractors who charge $200 for a hammer

Sun, 02/26/2012 - 16:49 | 2198587 Coke and Hookers
Coke and Hookers's picture

This graph appears to be carefully constructed in such a way that it doesn't tell us anything. They might as well have given simple percentages by year - and perhaps even data more recent than Bush's term. There's no way to correlate anything with anything here - and without that this is worthless - unless you somehow know all background variables for every county in the US. Completely different 'welfare' is also mixed together (like veteran's benefits = welfare to crack moms). My guess is that 'geography' was the only variable that served the interest of the New York Times, which by the way are globalist cunts who can go fuck themselfs with the rest of the MSM.

Sun, 02/26/2012 - 16:52 | 2198600 kaiserhoff
kaiserhoff's picture

Try this.  Add government payroll data to transfer payments.

Over half of American households get a government check.  What was that about free and fair elections???

Sun, 02/26/2012 - 16:57 | 2198613 Michael
Michael's picture

Look, I've put everything necessary in place to make worldwide economic armageddon go super nova style.

Don't fuck it up on me.

Sun, 02/26/2012 - 18:23 | 2198796 AldousHuxley
AldousHuxley's picture

social security and medicare is government check but you paid into it.


When 90% of revenue for a publicly traded company is sourced from federal government, that is not a real private corporation competing globally but living off of your tax dollars. Now those executives want private bonuses into millions.


How about million dollar bonuses for gamblers in AIG?

where is the outrage at wall st. bonuses instead of some grandma receiving just enough government check to eat.


plus everyone knows, welfare = subdidy for the companies that sell shit to the poor such as banks, grocery markets.

Sun, 02/26/2012 - 21:43 | 2199206 Michael
Michael's picture

I fear the nation may need 4 more years of Obama to get over that black president thing.

Sun, 02/26/2012 - 22:12 | 2199275 DosZap
DosZap's picture


This nation cannot even HOPE to get by, much less survive if we get Any color of man or woman with the same ideology as the faceosocialist in chief we have now.

This gum ball, (you wont believe it) has asked the Churches to Support his campaign!!!..............and Launches "African Americans for Obama Campaign".

The Catholics will remember how he JUST  screwed them over,(after the SUCK up in '08) so will the other conservative denoms (no help there), the Race card throwing carp,will still get 80%+ of the Black vote.

"The Audacity of Arrogance" of this poser is amazing.( Should have been the name of his book.)

Sun, 02/26/2012 - 23:01 | 2199419 Michael
Michael's picture

The USA is already virtually destroyed and bears no resemblance to the founders original intent. So what's the difference? A Romney nomination means the presidential campaign becomes Wall Street vs Main Street in the Democrat party play book. The black community has yet to feel what it's like not to have access to Wall Mart and Nike's, but when they do... 

Sun, 02/26/2012 - 23:03 | 2199432 Cathartes Aura
Cathartes Aura's picture

given that "blacks" make up only about 14% of the whole amrkn public, even if every man, woman and child voted, they still could not be held solely responsible for re-electing Obama.

some of you white folks must be crossin' over. ^^

Sun, 02/26/2012 - 23:38 | 2199536 Michael
Michael's picture

Obama played the race card first. I do understand it's pretty played out already.

Sun, 02/26/2012 - 17:04 | 2198631 Coke and Hookers
Coke and Hookers's picture

Very good point. Also, recent data shows that government employees are now paid higher than workers in the private sector. We are now looking at two classes of state dependent people: Government workers (the new middle class) and the proles who will not bite the hand that feeds them no matter what.

The old middle class is being eliminated by the gutting of the economy, wealth transfer to the financial system, taxation and technical restrictions on startups and small businesses. They will be recruited into dependency, either with government paychecks or through poverty & welfare.

This is excellent news for the elite. You can't really run a corporate fascist system with a pissed off middle class still in existence. You have to bribe them and break them. All you need is enforcers and sheep that you control by throwing crumbs at them.

Sun, 02/26/2012 - 17:33 | 2198692 curly
curly's picture

Two in a row said well, C&H.  Thank you.

Where's the heat map that shows density of government employees.

With an overlay for FIRE sector employees.


Sun, 02/26/2012 - 21:38 | 2199194 Bringin It
Bringin It's picture

Coke and Hookers Ya you are on a roll.  I agree.  The NYT sucks.

If the legions were not at war, PTB would not need so much bread and circus to placate the masses.  Without the malinvestment that is war, more of the masses would be at work and not in need of b&c to stay placated. 

The Islamaphobic Terror Wars put another $4trillion dollars in debt claims on your goods.  Not to mention a lot of people got killed over nothing but asset class rotation.

Cheerleading for the Islamaphobic Terror Wars (ITWS), the NYT will do what it takes to shield the masses from realizing where the problem lays.

Sun, 02/26/2012 - 21:53 | 2199220 Xkwisetly Paneful
Xkwisetly Paneful's picture

most of the  supposed "free" world is dead broke, not at war and already decimated their militaries for social spending.

sorry to interrupt the grand delusion.

 The only thing the NYT is covering up here is the epic fail of urban America has the impoverished parts are clearly covered by the ultra wealthy and the US places with the largest amounts of government, taxation/regulation and gaps between wealth and income, roll on.


Mon, 02/27/2012 - 00:57 | 2199642 Bringin It
Bringin It's picture

When you have no argument, you've gone from ad hominem to just jibberish.

Paneful's idea of combating Big Government means cutting everything, except the military because the military is useful to the Zionist-Banksters ... in several ways.  It protects the Israeli terror state, it rides herd over the flow of spice [ read oil ] around the world, it enables the PetroDollar and it effectively threatens any threats to the Ponzi aka dollar reserve status.

I personally do not want an empire.  What am I going to do with an empire?  Why would I want to see all these lives destroyed inside and outside America for the sake of some abstraction known as an empire?  The empire benefits only people in power and these people in power can not control their greed.  (For any who feel the phrase "these people" is code-word for Jew, please rest assured that the affliction has never been exclusive to a religeon or people.)  Likely, if they could control their greed, they would not be in power.

Big sacrifices by the many to satisfy the greed of a few.

I recommend, we all stop participating.

Sun, 02/26/2012 - 17:43 | 2198707 Edelweiss
Edelweiss's picture

  My brother is in the "bought" category.  For most of his adult life he was a fire breathing Libertarian.  He was involved in the party on a local level, and never missed the chance to proudly announce his affiliation.  Now he is a state worker who is strangely quiet when entitlement spending or bloated government benefit packages come up in conversation.  It surprises me how easily he and others I've known have succumb to the temptation.  The thing about that though, is the state can promise anything it likes.  Delivering on those promises is another matter altogether. 

Sun, 02/26/2012 - 18:11 | 2198770 optimator
optimator's picture

Wait till us all work for the Government just like the old Soviet Union.  How'd that work out.

Sun, 02/26/2012 - 22:14 | 2199290 Totentänzerlied
Totentänzerlied's picture

There is no need for a libertarian to be ashamed of receiving public largesse or benefitting from it. There are 2 reasons.

1) You will be taxed no matter what. This is axiomatic. You can either get essentially nothing for that lost income or you can attempt to get your money's worth. This is getting what you pay for whether you wanted to pay or not.

2) The faster a fiat currency is debased/money supply is expanded, e.g. the more debt a government creates, the sooner that government will fall and change will be possible. This is doing one's part in accelerating the self-destruction of the Leviathan. This position explicitly assumes that the "starve the beast" approach is futile.

Hans Herman Hoppe has discussed this topic from an Austrian economics perspective.

Mon, 02/27/2012 - 03:53 | 2199898 Edelweiss
Edelweiss's picture

I can understand anyone wanting the best value for the taxes they must pay.  I don't agree that you get "essentially nothing" considering the fact that a portion of collected taxes are used to maintain vital infrastructure (courts, roads, police, etc.) in the US.  I have no problem with that use of my money. Also, I frequently see that argument used as justification for receiving a variety of government benefits by people who could be productive, but choose not to be. The question for me is, at what point are you getting something someone else has paid for?  On your second point.  If the goal is to overburden the government to facilitate a collapse, then why participate in the Libertarian party at all?  Surely your time could be better spent "doing one's part" to bring about the desired result.  Why not vote for big government candidates, work to expand entitlements, and encourage others to do likewise?  And all that time I thought Obama was a big government Democrat!  He's been an undercover Libertarian the entire time!  Also, your second point presupposes a "clean slate" once a collapse occurs.  It may be fertile ground for Libertarian interests but, it's also an opportunity for a more oppressive style of government to take hold.  Unintended consequences anyone?  Oh well, Gotta go.  Trying to finish my application for a position at the New York Fed.  Just trying to do my part!

Sun, 02/26/2012 - 17:46 | 2198711 DoChenRollingBearing
DoChenRollingBearing's picture

I agree with curly, very well said C & H.  

+ 1

Sun, 02/26/2012 - 22:56 | 2199412 StychoKiller
StychoKiller's picture

Allow me to explain those $700 (not $200) hammers to you, then you can decide better about the wisdom of a large Federal Govt.:
Military Contractor gets MIL-SPECs from the Pentagon on just how the hammer is to perform, and how to test it to ensure conformance to the MIL-SPECs.  The Pentagon cuts a procurement order for hammers.  Contractor goes out and buys $15 hammers, tests a statistical sample of them to verify their conformance to the MIL-SPECs.  In the process of doing so, a two-foot high stack of paper gets generated so that the Military Contractor and the Pentagon can prove to the US Congress that the People are not getting less hammer than the Military requires to do the job.  In short, $15 hammer + Two-Foot stack of paper = $700.
Now then, who do we string up here?

Mon, 02/27/2012 - 02:52 | 2199869 Milestones
Milestones's picture

How much rope do ya have? The more the merrier.           Milestones

Sun, 02/26/2012 - 16:25 | 2198529 kridkrid
kridkrid's picture

The idiots in the red states who buy what they are being sold with respect to the differences between the two parties are really no different from the idiots in the blue states who buy what they are being sold with respect to the differences between the two parties. 

Sun, 02/26/2012 - 16:51 | 2198590 CH1
CH1's picture

Blue versus Red is brain poison. Give it up.

Sun, 02/26/2012 - 17:00 | 2198624 ChrisFromMorningside
ChrisFromMorningside's picture

In a lot of those "red states" in the South, African-Americans are the disproportionate recipients of these welfare benefits and African-Americans are a key Obama constituency.

Sun, 02/26/2012 - 23:09 | 2199446 Cathartes Aura
Cathartes Aura's picture

"African-Americans" are only 14% of the whole amrkn population - while there might be whole counties skewed towards high percentage "African-American," they still cannot be solely blamed for your welfare benefit anger.

Sun, 02/26/2012 - 17:27 | 2198675 cjbosk
cjbosk's picture

Yeah, oh, wait, "don't give me the social security I've paid into for 4 decades".  Should that be what the "rejectors" of Obama should say.  Better yet, I don't want Medicare to pay for that hip replacement...I'll just go to the bank and grab some cash.

Fact is, the Boomers are too big for us to feed, cloth and provide medical benefits...We're screwed unless these programs are cut to the bone.

The only chance we have now is to vote a president in that will impliment IMMEDIATE austerity, and this will most certainly NEVER happen.


Sun, 02/26/2012 - 19:55 | 2198986 Vendetta
Vendetta's picture

Boomers make up slightly more than 20% of the population which is a fairly normal distribution.  Its the propagandists in 'the media' who make it sound like they dominated what has actually happened in the US and the reason for its financial destruction.  The reality is the bankers, multinationals, trade and monetary arrangements and agreements that has done all of it.  Those elites are simply deflecting the negative attention to the population demographic (the poor or boomers), that are most likely to be completely destroyed by the monetary destruction game the elite have played so welled and profitted massively from.  Just saying ...

Sun, 02/26/2012 - 20:06 | 2199018 malek
malek's picture

So you just declared the baby boom to be non-existent?

Sun, 02/26/2012 - 20:24 | 2199056 ChrisFromMorningside
ChrisFromMorningside's picture

The thing is, the Boomers are comfortable under Obama / Troika central planning. They might bitch and white about cuts here or there but their future is secure as long as the central planners keep kicking the debt can down the road. They have a vested interest in this system. That's why they're mostly sitting on their asses while the younger generations are the only ones providing any kind of resistance.

This Western debt debacle started with the Greatest Generation in the post-WWII era but it was the Boomer generation that went whole hog and destroyed it. Now Gen Y and Z are probably going to spend most of their adulthood in a nation that looks a lot more like the pre-WWII, no-social safety net, very limited credit version of the U.S.

Sun, 02/26/2012 - 21:16 | 2199166 GubbermintWorker
GubbermintWorker's picture

Oh fuck you! You're falling right into the trap they set for you. Pit each other against each vs poor, christian vs muslim, democrat vs republican, old vs young....fucking grow up.

Sun, 02/26/2012 - 22:21 | 2199300 Totentänzerlied
Totentänzerlied's picture

Elite vs peasant, master vs slave, lord vs serf are dichotomies as well. Pray tell why, of all such social dichotomies, only these are valid?

You think a handful of vastly wealthy, mostly old, mostly white men are the only negative political and/or economic force in the world?

Sun, 02/26/2012 - 23:00 | 2199425 StychoKiller
StychoKiller's picture

Research the mathematics on HOW a Ponzi scheme works, then see:

Mon, 02/27/2012 - 02:58 | 2199872 malek
malek's picture

well observed

Sun, 02/26/2012 - 22:58 | 2199416 StychoKiller
StychoKiller's picture

GE paid NO income taxes last year, FIX THAT FIRST!

Sun, 02/26/2012 - 18:34 | 2198815 malek
malek's picture

It is mainly a map of where the percentage of more affluent people is higher, lowering the "Government benefits as percentage of personal income" in those areas

Sun, 02/26/2012 - 19:09 | 2198908 Foul Harold
Foul Harold's picture

With the exception of Appalachia, most of the red state counties receiving large amounts of federal subsidies are minority dominated and inside"The Black Belt. (Soil color, not skin.) Indian reservations account for those in the southwest.

Sun, 02/26/2012 - 21:14 | 2199159 GubbermintWorker
GubbermintWorker's picture

Wow, did you even check out your assertioin before posting your shit? Look at NM,WA,OR, CA, and CO to name a few....or look here and do a comparative, if you're mentally able...


And then, figure out why that kind of garbage is irrelavent any way....both sides are in bed with the big banks and big pharma, big agri, and big oil companies....both sides are power whores you dimwit.

Sun, 02/26/2012 - 22:41 | 2199353 Pike Bishop
Pike Bishop's picture

What's everybody cutting off ratso's nuts for? If you put a stake in the middle of Arkansas and draw a 400 mi radius, throw in KY (which looks like the biggest national shithole on every measure),  and WVa, .... you have Blackhole USA. They are all fuckin' Republican states. Even the Mid-West Rustbelt has muddled through better., and 98% of every "tradeable" (off-shore capable) job in the Mid West has been shipped in the last 15 yrs.

And Obama is an ass-punker and hasn't fixed a thing because he brought in the same retards who caused the mess, to fix it, but welcome to the world of 8 years of Republican Government, Banks, Big-Corps, and the Fed. If you want to throw in those squid spined Blower-for-Dollars Democrats for the past few years, then fine.

But the map only goes to 2009 when Obama started, and 2009 was Bush's budget and spending for damage control.

I'm all for playing Lynch the Lawn Jockey but let's keep straight, who did what.

This is fuckin' deja vu all over again.

It's like telling people that we all decided Viet Nam was a Nation-wrecking stupid, useless mistake which never had an upside, in 1973, and they're tellin' ya it's a good idea for a President to be able to start a war in Iraq because Hussein crashed planes into the WTC.

If you don't want to have extended strain on programs which are supposed to be stop-gap safety nets, then let the Banks crash like they should have, and don't let the Fed be The Enabler drawing out the length of the disaster.

Since the Fed got the nod from the crony free market assholes in 1990, it lowers the magnitude of the Recession but prolongs the livin' shit out of it.

If the fuckin' world had crashed and shut down for amonth in 2008, we would be right where we are now. Except we would have assets of which you would know the actual price, the creditors would have had their asses cleaned-out instead of still running the show. People would have jobs and a lot of them would look shitty, but with all the bullshit air blown out of prices, they wouldn't work out to be so shitty.

Yeah, string up the Lawn Jockey.

When did ZeroHedge leave, and how long have you people been here?



Mon, 02/27/2012 - 02:16 | 2199842 Lednbrass
Lednbrass's picture

Please stop your old people from moving south, nobody wants them here either.

Sun, 02/26/2012 - 15:17 | 2198337 Gully Foyle
Gully Foyle's picture


Not really sure how you can claim Peak productivity when the majority had been forced out of very product jobs.

Maybe we could run a factory worker vs day trader productivity contest. You know people who REALLY make shit vs those who ride their coattails for profit.

Sun, 02/26/2012 - 15:26 | 2198370 Conrad Murray
Conrad Murray's picture

If CAPS LOCK IS CRUISE CONTROL FOR COOL, bold must be rocket booster for full retard.

Sun, 02/26/2012 - 15:32 | 2198396 Gully Foyle
Gully Foyle's picture

Conrad Murray

It's all down to style, some of you just can't be bold. Some pretend to be.

The majority just have zero conception of anything beyond the banal and mundane.

Sun, 02/26/2012 - 16:16 | 2198500 JW n FL
JW n FL's picture



In America??

The SIGNIFICANT!! amount of $4 Trillion??

Is Spent on “We the People”? LULZ!!


It just sounds silly when you say it out loud doesnt it?


Then add to that..

$4 Trillion.. and a Significant Amount of the $4 Trillion is being Spent on the Poor as Directed by Washington DC? LULZ!


Do the Lobbyists and the Corporations who Sign the Lobbyists Pay Checks Know About this Significant Amount of the $4 Trillion being spent on the Poor in the United States as directed by Washington DC? LULZ! LULZ!! LULZ!!!


(as a reminder total debt has risen by over $4 trillion under Obama - a significant portion of that has gone to fund social welfare)



Are You Sure?

Or are you sharing the New York Times Feelings?

Let’s take a look at spending.











Health Care
















Charts: Click on a to display a bar of data in a row or column of this table.
Click on to display a time-series chart of data in a row.

[+] Drill-down: Click on the [+] to drill down to more detailed numbers. For federal spending line items (but not revenue) you can drill down three levels to view about 4,000 items of spending at the “agency code” level.

































General Government








Other Spending
























Total Spending








Federal Deficit








Gross Public Debt







We spend more in interest payments to Wall Street thru the Federal Reserve than is Spent on “Education”, “Protection”, “Transportation” and “General Government”.. COMBINED!!


The Poor People in America do NOT! Have a Billion Dollar Lobby! LULZ!!!


But! It sounds good.. the Poor People did it! LULZ!! It is ALL! The Poor Peoples Fault! LULZ!!


And then they believed that Wealth would Trickle Down to them as well!


Gotta LOVE the Sheep!


Sun, 02/26/2012 - 16:43 | 2198578 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Can we get JDub a spreadsheet or some shit?

Sun, 02/26/2012 - 16:49 | 2198588 JW n FL
JW n FL's picture



what do you mean.. I just posted the spread sheet and the link too it!

Sourced and Sited FACTS!

Not Feelings!

Thats what women or BITCHEZ! are for.. or maybe sheep drinking the Other KoolAide! LULZ!

there it is again!

try, try as I may.. the numerical facts just keep getting in the way!

Sun, 02/26/2012 - 18:19 | 2198778 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I was thinking about yur posts having a spread shit so the numbers could be in rows instead of.................





Sun, 02/26/2012 - 18:46 | 2198832 Xkwisetly Paneful
Xkwisetly Paneful's picture

JAMAL WOW  $4trillion on welfare,

$8trillion on defense,

that only leaves $24trillion on the rest which as usual are largely code words for social spending.

But thanks for playing.

Sun, 02/26/2012 - 18:51 | 2198860 JW n FL
JW n FL's picture



Xkwisetly Paneful

JAMAL WOW $4trillion on welfare,

$8trillion on defense,

that only leaves $24trillion on the rest which as usual are largely code words for social spending.

But thanks for playing.


are you drunk?

I will have whatever you are having! cause that is some good shit you are gettin down with!

I can not even see what you are talking about?

do the numbers you see have pretty colors around them?

is it all swirly and shit?


give us you drug dealers number! spread the love!

Sun, 02/26/2012 - 19:04 | 2198885 Xkwisetly Paneful
Xkwisetly Paneful's picture

Called satire, since formatting a post is way beyond your capability.

What a pittance.

Only in America are fat people who own cars and homes called "poverty stricken".

But I get it, it is the taxpayer's job to pay for other people's: homes, children, food, cars, drugs, et al.

just don't call it a religion and can take over the world with it.

Sun, 02/26/2012 - 22:04 | 2199244 Bringin It
Bringin It's picture

Paneful - Re. your sarcasm - it is the taxpayer's job to pay for other people's: homes, children, food, cars, drugs, et al.

So why do you believe that according to you, that it's the tax payer's job to pay to bomb the brown people in the ME? 

Why is it the taxpayers job to every year have to hand over $5B to the Israeli war machine? 

Why is it the taxpayer's job to fork over another $5B or so to try to placate the neighbors, like Egypt and Jordan, so that they acquiesce to you presence.

$4Trillion to fight the recent local wars for you.  According to you XP, that's good value for the taxpayer???

This is the Heglian wedge you morons have to try to drive.  You need to demonize the poor and anybody else for that matter, to squeeze out the juice to keep your wars going.

It's all about keeping the wars going isn't it Paneful??

Sun, 02/26/2012 - 22:31 | 2199327 Totentänzerlied
Totentänzerlied's picture

They call it the welfare-warfare state for a reason ... becuase it's both: two peas in a statist pod.

Sun, 02/26/2012 - 22:48 | 2199355 Xkwisetly Paneful
Xkwisetly Paneful's picture

Getting old.

Most of the supposed "free" world is dead broke, not at war and has already both decimated their militaries for greater social spending and has higher taxation or the one pea pod.

Yea all about keeping the wars going, like the epic fails ones on poverty and drugs.

So who the fuck is squeezing whom here?

Amazing, no matter how obvious, the flat earth society will always exist.



Mon, 02/27/2012 - 01:05 | 2199729 Bringin It
Bringin It's picture

Paneful - You ignored most of my post, but just answer this one question you skipped over from above.

Why is it the taxpayers job to every year have to hand over $5B to the Israeli war machine?

Thanks for your answer.  I can hardly wait.

You read from the same script as those three talking sock-puppets Newt, Romney and the abortion guy.

Sun, 02/26/2012 - 22:30 | 2199326 JW n FL
JW n FL's picture



Xkwisetly Paneful

Called satire, since formatting a post is way beyond your capability.

What a pittance.

Only in America are fat people who own cars and homes called "poverty stricken".

But I get it, it is the taxpayer's job to pay for other people's: homes, children, food, cars, drugs, et al.

just don't call it a religion and can take over the world with it.


These people do not have cars nor are they fat. and if it was up to me, they would not be hungry.. and if a few bankers have to swing to make that happen? if some lobbyists need to be tar and feathered so that ALL! Americans can go to bed well fed.. if Washington DC as a WHOLE must burn to the ground, oly to be re-built minus the evil that lives there now.. SO FUCKING BE IT! Lets get it going already! Fuck'em ALL!


Sun, 02/26/2012 - 18:48 | 2198841 JW n FL
JW n FL's picture




Mr Lennon Hendrix

 I was thinking about yur posts having a spread shit so the numbers could be in rows instead of.................

































Love Ya!












Sun, 02/26/2012 - 18:55 | 2198867 Xkwisetly Paneful
Xkwisetly Paneful's picture


the US this war mongering nation only spends 25% of it's budget on defense and 75% on the rest which is largely social spending absent financing costs.

Thanks for posting that, with all that I see on, I thought the military spending was why most of the free world was broke and not the egregious unfunded social spending.

Make sure to tell all the Euros that, the ones who decimated their militaries in favor of social spending, raised taxes through the roof  and are still dead broke. Cause afterall it is only $4trillion.

Sun, 02/26/2012 - 22:42 | 2199357 JW n FL
JW n FL's picture



I like how you and everyone else in the World thinks that your run of the mill American has any say so in anything.. that Wall Street via Washington DC Lobby Whores and Lobbyists.. to do with how American is run.

There is NOTHING that I or the Sheepeople can do to change anything the top .01% wants to do!

"We the People" have NO! Say!

and until such time that "We the Sheepeople" get a fucking clue! NOTHING! will change for the better!


The next correction that I would like  to make.. is that America.. right now.. can afford anything and everything it does..

the only thing that would have to change is that the top .01% would have to pay 30% in Taxes like the working class..

That is Pay.. not be in a Tax Bracket that says 30% but after loop holes equales 5% or 13%.


I guess as well America could stop exporting its manufacturing base to the 3rd world..

I guess that America (the working class that pays 30% in Taxes to the IRS) could stop paying for Corporations to move the Manufacturing Base to the 3rd world thru tax breaks and tax credits!


America is en-rishing the World.. far more than America is hurting Iran.


But that is over looked by simple minded people, like yourself.

Sun, 02/26/2012 - 22:46 | 2199370 Xkwisetly Paneful
Xkwisetly Paneful's picture

You are in the top .01% of the world population.

But don't let that get in the way of envying those who are a few notches higher.

Just can't make this stuff up. You're a victim all the while enjoying an existence even your grandparents could not have imagined on their wildest most drug induced day.

Sun, 02/26/2012 - 23:37 | 2199532 JW n FL
JW n FL's picture



get it straight.

my quality of life will suffer so that others may improve.

but it is the right thing to do.

so dont pretend you know me.. or my family.

if you want to know me you are welcome to see me in the brick and mortor sense.. whenever you want and / or have time.

Sun, 02/26/2012 - 23:08 | 2199439 StychoKiller
StychoKiller's picture

Hmm this reminds me of the 7 blind men describing an elephant.  Call it what it is, an out-of-control LEVITHAN GOVERNMENT.

Sun, 02/26/2012 - 21:27 | 2199175 Schmuck Raker
Schmuck Raker's picture






Sun, 02/26/2012 - 22:58 | 2199402 Pike Bishop
Pike Bishop's picture

JW don't try to confuse this discussion with facts. (the numbers, not that other shit) My bookmark must be fucked up. It's set for Zerohedge and financial Fight Clubbing, but I keep getting the Drudge Report.

Sun, 02/26/2012 - 23:35 | 2199523 JW n FL
JW n FL's picture



Sorry Pike.. I willl work harder to get my head were it needs to be for the Family!

Sun, 02/26/2012 - 15:28 | 2198378 GeneMarchbanks
GeneMarchbanks's picture


I'm simply stating that those factory jobs won't be returing in my lifetime.

Making things is being supplanted by 'swapping' not so much 'things' but pieces of reality(paper claims). The new economy.

Sun, 02/26/2012 - 15:34 | 2198401 Gully Foyle
Gully Foyle's picture


I foresee a day when they will train White people in West Virginia call centers to say " Good morning my name is Rajneesh, how may I help you today" with a nice Punjabi accent.

Sun, 02/26/2012 - 16:05 | 2198477 HungrySeagull
HungrySeagull's picture

I gave you a thumbs up. +1

There ARE internet based call centers intercepting fast food orders and presenting same in graphical picture form to the cashier/order assembler around the corner from your car.

Sun, 02/26/2012 - 18:13 | 2198772 Dermasolarapate...
Dermasolarapaterraphatrima's picture

I foresee the day when wealthy Asians call the sevice center and get...

"Hello, my name is Johnny, may I help you" their Michgan/West Virginia/Texan/Louisanna/Miss/(Your State Here) accent.

Sun, 02/26/2012 - 15:35 | 2198409 TheSilverJournal
TheSilverJournal's picture

When the paper ponzi implodes and the US is no longer able to catch a free ride by sucking resources from the rest of the world, those factories and the making of real goods will return. Unless you won't be around in a few years, you will be alive to see the collapse of fiat, the collapse of the American consumer economy, and the rebirth of American manufacturing.

Sun, 02/26/2012 - 16:18 | 2198513 Every Third Word
Every Third Word's picture

Let's get a couple things straight:

1. Modern Economics is skewed by the fact that after WWII America had an unequal playing field for 3 reasons: The rest of the world's factories were rubble, and everyone needed the dollar, we had a growing consumer base

2. We thought our farts were gold and embarked on the Great Society rather than integrate and grow our economy

3. By the '70s we had screwed our head start over the rest of the world. Oil shocks, wage freezes caused the 70s to be a joy

4. The 80s were, as I have wrote before, a wonderful decade of boomers coming in to the market to spend spend spend, completely new form of capital (PE and Junk Bonds) and a BULL market (pun intended)

5. Now, 20 years on, just like the '70s, we took the great jump we had in the 80s and are, almost to a data point, back in the '70s


Sun, 02/26/2012 - 16:23 | 2198522 knukles
knukles's picture

But   like



hmmmm   uh 

I    ah

like, don't   remember

the     ah       70's


plsshhhhhhh giggle giggle snort snort

Sun, 02/26/2012 - 17:55 | 2198724 DoChenRollingBearing
DoChenRollingBearing's picture

You don't remember the 1970s because you were there!

Sun, 02/26/2012 - 16:53 | 2198602 CH1
CH1's picture

you will be alive to see the collapse of fiat, the collapse of the American consumer economy, and the rebirth of American manufacturing.

I agree, but ONLY if the state gets out of the way.

So long as people keep obeying the thugs in DC, they'll make laws proteting their friends and making life impossible for small manufacturers.

Sun, 02/26/2012 - 19:29 | 2198940 TheSilverJournal
TheSilverJournal's picture

As the rate that fiat is created reaches infinite, hyperinflation will ensue. The only way to keep the fiat ponzi going is to keep increasing the rate of fiat creation. Stop increasing the rate and the ponzi fails. So, yes, the ponzi can collapse anytime the printers decide to not save the system, but I see no signs the money printers will stop printing. It looks like this one will end in hyperinflation. I give the hyperinflation of fiat from about six months to five years to come to fruition.

Sun, 02/26/2012 - 15:47 | 2198442 Abitdodgie
Abitdodgie's picture

Factory jobs will come back to America BIG time , go to the link all is explaned

Sun, 02/26/2012 - 16:59 | 2198584 LawsofPhysics
LawsofPhysics's picture

Right, because the BRICs (the only folks with balance sheet cash - although still in debt) won't have the know-how or skilled workforce (working for peanuts) to manufacture things themselves, rrrriiiiiggghhhtt.  Jeff is right on oil and transportation though.

Wake me up when the jubilee starts.  Same as it ever was.

Sun, 02/26/2012 - 22:08 | 2199267 Bringin It
Bringin It's picture

He's wrong about the carbon tax too.

Sun, 02/26/2012 - 17:15 | 2198657 ChrisFromMorningside
ChrisFromMorningside's picture

I think you/we will see the return of factory jobs. We won't have much choice when the current trade/currency regime collapses, will we? I guess we could devolve into some Mad Max scenario and just cannabilize ourselves until we look like Rwanda but I'm hoping people have more sense.

One of the biggest swindles ever was when the globalists de-industrialized the U.S. and promised to replace lost jobs with a high-paying "knowledge economy." Utter bullshit. Instead we got a service sector - SERVice sector as in you are a SERVant to the consumer classes. It's all gone to crap since then.

Sun, 02/26/2012 - 15:44 | 2198430 Willzyx
Willzyx's picture

When day trades are parted from their money, it is very productive for the bankers.

Sun, 02/26/2012 - 15:19 | 2198343 TheSilverJournal
TheSilverJournal's picture

The government is destroying productivity. It's taking resources out of the market and directing those resources into unproductive areas. Every new dollar that's printed is redistributing the value of existing currency into the newly created currency, and then the government squanders the stolen resources into whatever areas benefit the money printers.

Sun, 02/26/2012 - 17:16 | 2198660 ChrisFromMorningside
ChrisFromMorningside's picture

I was listening to a series of radio inteviews with young people in Greece. Several of the interviewees pointed out that this is one of the best educated generations in Greek history. More young people than ever pursued education and are ready to contribute significantly to their society. Instead, today most PhDs and college graduates in Greece are making minimum wage working in retail, restaurants, etc. An entire generation is being squandered, all in the name of banker profits and million dollar bonuses.

Sun, 02/26/2012 - 21:57 | 2199235 DosZap
DosZap's picture


 An entire generation is being squandered, all in the name of banker profits and million dollar bonuses.

Chris, you think its one iota different here?.

Males single, from 19-34 yrs old are living at home with their parents,most with college degrees and huge student loans.

The only jobs are at McScreweu.


Sun, 02/26/2012 - 22:11 | 2199274 Bringin It
Bringin It's picture

And they can [almost] no way get away from the student loan due to recent JIT bk law changes.

Sun, 02/26/2012 - 15:20 | 2198344 Sudden Debt
Sudden Debt's picture

Peak agent orange was in 69 and now we're nearing peak commu red....

Sun, 02/26/2012 - 16:10 | 2198492 disabledvet
disabledvet's picture

Nu par Sovietski indeed. Here's what it looks like up close:
what happened Amerika? what happened????!!!!!

Sun, 02/26/2012 - 15:21 | 2198357 lolmao500
lolmao500's picture

Next up : peak ``serviceability``.

Sun, 02/26/2012 - 21:14 | 2199161 Offtheradar
Offtheradar's picture

Damn!  I can almost see my house on there!

Sun, 02/26/2012 - 15:07 | 2198302 The Axe
The Axe's picture

The Wild Wonderful Whites of West Virginia...holy shit

Sun, 02/26/2012 - 22:13 | 2199283 Bringin It
Bringin It's picture

Eastern Kentucky.

Sun, 02/26/2012 - 15:09 | 2198303 hedgeless_horseman
hedgeless_horseman's picture



"The trouble with socialism is you eventually run out of other people's money." - Thatcher

Sun, 02/26/2012 - 15:12 | 2198318 francis_sawyer
francis_sawyer's picture

The trouble with socialism is that you eventually run out of ink, smoke & mirrors... (there ~ fixed it)...

Sun, 02/26/2012 - 15:15 | 2198329 Gully Foyle
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The trouble with Capitalism is that you eventually run out of ink, smoke & mirrors... (there ~ fixed it)...

Sun, 02/26/2012 - 15:19 | 2198339 tinsmith
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The trouble with..... oh, never mind. Until people, laboring under any belief system/ system of government come to the realization that there is no free lunch, we are ALL gonna get screwed.

Sun, 02/26/2012 - 15:29 | 2198386 Gully Foyle
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Sun, 02/26/2012 - 16:54 | 2198605 Bernankster
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I vehemently disagree.

Sun, 02/26/2012 - 18:45 | 2198837 WmMcK
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 "The Moon is a Harsh Mistress" - Heinlein

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