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Forget Operation Twist: Rosenberg Says Bernanke Will Shock Everyone With What Is About To Come

Tyler Durden's picture





 

As we have been pointing out since the beginning of the week, the one defining feature of the past 5 days has been a relentless short covering rally. And while the mechanics were obvious, one thing was missing: the reason. Well, courtesy of David Rosenberg's latest, we may now know what it is. Bottom line: for all who think that Bernanke is about to serve just Operation Twist next week... you ain't seen nothing yet. "The consensus view that the Fed is going to stop at 'Operation Twist' may be in for a surprise. It may end up doing much, much more." Rosie continues: "Look, we are talking about the same man who, on October 2, 2003, delivered a speech titled Monetary Policy and the Stock Market: Some Empirical Results. I kid you not. This is someone who clearly sees the stock market as a transmission mechanism from Fed policy to the rest of the economy. In other words, if Bernanke wants to juice the stock market, then he must do something to surprise the market. 'Operation Twist' is already baked in, which means he has to do that and a lot more to generate the positive surprise he clearly desires (this is exactly what he did on August 9th with the mid-2013 on- hold commitment). It seems that Bernanke, if he wants the market to rally, is going to have to come out with a surprise next Wednesday." In other words, stocks are now pricing in not just OT 2, and a reduction in the IOER, but also an LSAP of a few hundred billion. There is, however, naturally a flipside, to Bernanke's priced in announcement: "If he doesn't, then expect a big selloff." In everything, mind you, stocks, bonds, and certainly precious metals. And, of course, vice versa.

Full note from Today's Breakfast with Dave:

The consensus view that the Fed is going to stop at 'Operation Twist' may be in for a surprise. It may end up doing much, much more. And this may be one of the reasons why the stock market is starting to rally (a classic 50%+ retracement, which always occur after the first 20% down-leg in a cyclical bear market would imply a test of 1,250 on the S&P 500 at the very least). Hedge funds do not want to be short ahead of next week's FOMC meeting, and who can blame them?

Here are 10 reasons why:

  1. Just go back to August 9th. The Fed was supposed to make a more emphatic comment in the press statement about "extended period" as it pertained to the length of time the Fed would stay ultra-accommodative on the rates front. Bernanke went much further than anyone thought with his pledge to keep the funds rate at the floor at least to mid-2013.
  2. Ben Bernanke has shown repeatedly that he is willing to take risks and be very aggressive.
  3. Everyone knows that the Dow finished the August 9th session with a huge 430 point gain after the FOMC press statement was fully digested. Not only that, but when Bernanke held his two-day meeting in mid-December of 2008 and unveiled QE1, the Dow soared 360 points. And last November, the day after that two-day meeting when Bernanke made it clear in his Washington Post op-ed article how key it was to ignite the stock market, the Dow jumped 220 points. It may all be just for a near-term trade, but in an industry where every basis point counts, who wants to be short knowing all that?
  4. At that August meeting, we know both from the statement and minutes that additional rounds of unconventional easing were discussed. And Mr. Bernanke made it very clear at Jackson Hole that they would be on the table again at the coming meeting
  5. The Fed would like to be out of the picture during the election campaign (especially if Richard Perry ends up winning the GOP nomination).
  6. The Fed has cut its GDP forecasts at each of the past three meetings.
  7. The stock market is actually little changed from where it was at the last meeting and we know based on that Washington Post op-ed, that it is equity valuation (specifically the Russell 2000) that Ben wants to see rally. Sanctioning lower bond yields is just a means to that end.
  8. There is no fiscal stimulus to bolster the economy, with the odds very high that the Obama jobs plan — some in his own party object to the package as per yesterday's New York Times — will be dead-on-arrival on the House floor. The Fed is the only game in town.
  9. Financial conditions have tightened nearly 100 basis points since the spring and deserve a policy response.
  10. Bernanke announced at Jackson Hole that this coming meeting was going to be a two-day affair, not one day. The last time he did this was back in December 2008 and that was when he invoked QE1. There has to be a reason why it is two days, and it must be because he wants to build the case for three dissenters. The Board is being sequestered for a reason!

Look, we are talking about the same man who, on October 2, 2003, delivered a speech titled Monetary Policy and the Stock Market: Some Empirical Results. I kid you not. This is someone who clearly sees the stock market as a transmission mechanism from Fed policy to the rest of the economy. Here is a key excerpt from that sermon:

Normally, the FOMC, the monetary policymaking arm of the Federal Reserve, announces its interest rate decisions at around 2:15 p.m. following each of its eight regularly scheduled meetings each year. An air of expectation reigns in financial markets in the few minutes before to the announcement. If you happen to have access to a monitor that tracks key market indexes, at 2:15 p.m. on an announcement day you can watch those indexes quiver as if trying to digest the information in the rate decision and the FOMC's accompanying statement of explanation. Then the black line representing each market index moves quickly up or down, and the markets have priced the FOMC action into the aggregate values of U.S. equities, bonds, and other assets.

 

Even the casual observer can have no doubt, then, that FOMC decisions move asset prices, including equity prices. Estimating the size and duration of these effects, however, is not so straightforward. Because traders in  equity markets, as in most other financial markets, are generally highly informed and sophisticated. any policy decision that is largely anticipated will already be factored into stock prices and will elicit little reaction when  announced. To measure the effects of monetary policy changes on the stock market, then, we need to have a measure of the portion of a given  change in monetary policy that the market had not already anticipated before the FOMC's formal announcement [emphasis added].

In other words, if Bernanke wants to juice the stock market, then he must do something to surprise the market. 'Operation Twist' is already baked in, which means he has to do that and a lot more to generate the positive surprise he clearly desires (this is exactly what he did on August 9th with the mid-2013 on- hold commitment). It seems that Bernanke, if he wants the market to rally, is going to have to come out with a surprise next Wednesday. If he doesn't, then expect a big selloff.

What he is likely to do is another story, but here are some options:

  1. Expand the balance sheet further and simply buy more bonds (at the longer end of the curve).
  2. Eliminate the interest paid to commercial banks on excess reserves (to try to spur lending).
  3. Announce an explicit ceiling on the 10-year note yield (say 1.5%), which the Fed has done in the distant past. Based on Bernanke's prior rhetoric, this would seem to be a preferred strategy (though the Fed relinquishes control of the balance sheet).
  4. Buy foreign securities (bail out Europe and weaken the U.S. dollar — talk about killing two birds with one policy stone).
  5. Announce an explicit higher inflation target or perhaps a lower unemployment rate target (i.e. reinforce the DUAL mandate).
  6. As Mr. Bernanke stated for the record in November 2002, the Fed does have broad powers to lend to the private sector indirectly via banks, through the discount window. It could offer fixed-term loans to banks at low or zero interest, with a wide range of private assets (including, among others, corporate bonds, commercial paper, bank loans, and mortgages) deemed eligible as collateral. For example, the Fed might make 90-day or 180-day zero-interest loans to banks, taking corporate commercial paper of the same maturity as collateral. Such a program could significantly reduce liquidity and term premiums on the assets used as collateral. Reductions in these premiums would lower the cost of capital both to banks and the nonbank private sector.

Note that this is all for a trade. As we saw back on August 9th, we had a huge rally but the market is no higher today than it was then. All we have seen since is a huge amount of volatility.

Source: Gluskin Sheff

 


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Fri, 09/16/2011 - 14:53 | Link to Comment Upswaller
Upswaller's picture

"You're right, Lefty, it's been just a little TOO quiet around here......."

Fri, 09/16/2011 - 15:04 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Is it just me, or do all of those choices do nothing for the real economy or unemployment.  Seems like gold should get another shot in the arm then.  Okay, fine with me.

Fri, 09/16/2011 - 15:12 | Link to Comment Comay Mierda
Comay Mierda's picture

of course they wont do anything for the real problems.  they want to CRASH the economy and make us all their serfs.

Fri, 09/16/2011 - 15:36 | Link to Comment WonderDawg
WonderDawg's picture

So, nothing new, then. Who didn't already know this? Bernanke may or may not do something stupid. Big fucking deal. The article was kind of anti-climactic to the headline.

Fri, 09/16/2011 - 15:42 | Link to Comment 101 years and c...
101 years and counting's picture

sorry, but this makes no sense.  if ben is going to torch the USD and ignite a commodity and equitiy rally, why did they just squeeze out all the shorts?

Fri, 09/16/2011 - 15:50 | Link to Comment LawsofPhysics
LawsofPhysics's picture

So only the HFT bots and insiders can profit.  No goyium allow to catch a ride on the next rally.

Fri, 09/16/2011 - 17:27 | Link to Comment IQ 145
IQ 145's picture

On the contrary; it's a public market. Bought another S&P500 contract this morning at 1197.25@2.21am HST. So the center of my position is at $1190.225; The bottom was in a while ago; the rally continues. The article above is useless crap. You can participate if you wish. I have no idea why you're worrying about the next rally; this one started a couple of weeks ago. Oh, by the way, there's plenty of liquidity to drive the S&P back to 1255. I dumped the BAC at $7.23; not because there's anything wrong with it as a TRADE; rather than as a philosophical position, or a moral issue, or whatever; but because I prefer to ride the S&P and it's only a small hobby account.

Fri, 09/16/2011 - 18:14 | Link to Comment depression
depression's picture

Dow 12,500 here we come !

Fri, 09/16/2011 - 21:00 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Whatever gimmick they might come up to prop up the markets you can be sure it will be "transitory".

Someone ought to tell the stupid manipulators that the first rule of Mr. Market is: Don't scratch Mr. Market's balls.

They are about to find out what happens when you do.

Fri, 09/16/2011 - 21:53 | Link to Comment JW n FL
JW n FL's picture

 

 

Whatever gimmick they might come up to prop up the markets you can be sure it will be "transitory".

New item in your series of interest:

Working Paper No. 11/216: Data-Rich DSGE and Dynamic Factor Models Author/Editor: Kryshko, Maxym Summary: Dynamic factor models and dynamic stochastic general equilibrium (DSGE) models are widely used forempirical research in macroeconomics. The empirical factor literature argues that the co-movement oflarge panels of macroeconomic and financial data can be captured by relatively few commonunobserved factors. Similarly, the dynamics in DSGE models are often governed by a handful of statevariables and exogenous processes such as preference and/or technology shocks. Boivin and Giannoni(2006) combine a DSGE and a factor model into a data-rich DSGE model, in which DSGE states arefactors and factor dynamics are subject to DSGE model implied restrictions. We compare a data-richDSGE model with a standard New Keynesian core to an empirical dynamic factor model by estimatingboth on a rich panel of U.S. macroeconomic and financial data compiled by Stock and Watson (2008).We find that the spaces spanned by the empirical factors and by the data-rich DSGE model states arevery close. This proximity allows us to propagate monetary policy and technology innovations in anotherwise non-structural dynamic factor model to obtain predictions for many more series than just ahandful of traditional macro variables, including measures of real activity, price indices, labor marketindicators, interest rate spreads, money and credit stocks, and exchange rates.

http://www.imf.org/external/pubs/cat/longres.aspx?sk=25246.0

Fri, 09/16/2011 - 22:40 | Link to Comment JW n FL
JW n FL's picture

 

 

http://www.presstv.ir/detail/199555.html

World Economic Forum's 2011 Annual Meeting concludes in China

In the northern Chinese coastal city of Dalian, the World Economic Forum's annual three-day summer conference concluded. As planned, the event attracted well over a thousand political and business leaders and academics, from over 90 countries to attend panel discussions, workshops and brainstorming sessions on how to deal with the biggest challenges facing countries in the developing world.

 

Sat, 09/17/2011 - 10:24 | Link to Comment espirit
espirit's picture

Wha? No QE3?  That will be a shocker.

Sat, 09/17/2011 - 12:57 | Link to Comment JW n FL
JW n FL's picture

 

 

They are already Printing QE.. Look at the M2 Numbers! they aint going downward! LOL!!

 

 Percent change at seasonally adjusted annual rates     M1                    M2
----------------------------------------------------------------------------------------------------------------------------------------------------
  3 Months from May  2011 TO Aug. 2011                   36.7                  23.3
  6 Months from Feb. 2011 TO Aug. 2011                   25.3                  14.5
12 Months from Aug. 2010 TO Aug. 2011                   20.7                  10.3
----------------------------------------------------------------------------------------------------------------------------------------------------

1. M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) traveler's checks of
    nonbank issuers; (3) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and
    foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (4) other checkable deposits
    (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at depository institutions, credit union
    share draft accounts, and demand deposits at thrift institutions.  Seasonally adjusted M1 is constructed by summing currency, traveler's checks,
    demand deposits, and OCDs, each seasonally adjusted separately.

2. M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in
    amounts of less than $100,000), less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in
    retail money market mutual funds, less IRA and Keogh balances at money market mutual funds.  Seasonally adjusted M2 is constructed by summing
    savings deposits, small-denomination time deposits, and retail money funds, each seasonally adjusted separately, and adding this result to
    seasonally adjusted M1.

http://www.federalreserve.gov/releases/h6/current/

 

FEDERAL RESERVE STATISTICAL RELEASE

H.6 (508)
Table 1                                                                                                     For release at 4:30 p.m. Eastern Time
                                                                                                                                September 15, 2011
MONEY STOCK MEASURES
Billions of dollars

June 2011  9111.4

July 2011  9313.7

Aug. 2011  9544.9

Sat, 09/17/2011 - 15:51 | Link to Comment bid the soldier...
bid the soldiers shoot's picture

They won't have a parade on the 4th of July before they don't have QE3 ad infinitum.

Sat, 09/17/2011 - 01:34 | Link to Comment prains
prains's picture

IQ

we talked about this, decimal to the left friend, when doing your calculations decimal to the left.

14.5

Sat, 09/17/2011 - 05:59 | Link to Comment chindit13
chindit13's picture

I'm not sure you know the ground rules here in the comment section.  All profits are immoral unless they come from rises in the fiat price of Gold.  There are only a set number of Authorized Investment Goods (ironically, AIG) and to make matters simple, they have been given an easy to remember acronym, GGGG.  Often referred to as the 4G's, these are Gold (required capitalization, same as God), Guns (same), goulash and guillotines.  Goulash can be either canned or freeze dried.  Guillotines is self-explanatory, but if you don't know, let's just say it is not for cutting Spam.

Regarding the AIG's, you are entitled to high five and gloat when the fiat price of Gold rises, as on up days its value is fairly measured in terms of fiat paper.  You are welcome to applaud your own investment prowess and note the percentage ROI, even though it is fiat based.  On down days, otherwise heretofore known as "manipulation", you are expected to call its nominal price "only a paper price", and to remind people that "I just looked and I have as many coins as I had yesterday".  After a sharp selloff, you are expected to claim you'll soon be "backing up the truck" to take advantage of the lower "paper price", even though you may have boasted a day earlier that you were already "all-in" PMs.  Nobody is keeping track, so puffery is perfectly acceptable.

Hope that helps and that henceforth you refrain from "picking up nickels in front of a steamroller", because sooner than most people think this whole thing is coming down.

Finally, you will notice, if you have not already, that it is heretical to make light of certain subjects and that failure to obey that part of site dogma will result in a plethora of down arrows that will follow you wherever and whenever you post on Zerohedge.

Sat, 09/17/2011 - 12:26 | Link to Comment samslaught
samslaught's picture

think about who benefits from controlled inflation and or hyper-inflation and then think about who benefits from deflation.  Then think about what group of people throughout history always get their way.  This time is NEVER different. 

Sat, 09/17/2011 - 12:38 | Link to Comment ZeroPower
ZeroPower's picture

(green arrow up)

Fri, 09/16/2011 - 16:09 | Link to Comment SheepDog-One
SheepDog-One's picture

Rosie says 'The market here is pricing in OT2, LSAT, plus $300 billion QE'....wait, whats that Rosie? The markets have already priced in FAR more than that since Feb DOW 9,800! ZH articles from back then had the marketeers pricing in $2.5 trillion QE! Thats what all the stories said!

Fri, 09/16/2011 - 16:35 | Link to Comment Skid Marks
Skid Marks's picture

May I submit ...... that 100% is not priced in and that there is a great deal of "money on the sidelines". How could there not be? Gold popped and dropped. The Swiss are holding the Euro up (probably getting the cash from the Fed) while the "smart money" gets out. Everything is getting "papered over" (pun intended) and BB is going to surprise everyone by not trying to pull a rabbit out of his hat because the work has aleady been done. We just don't know what it is yet or maybe we do but haven't recognized it, given it a label. What can you call the Swiss support of the Euro? QE-E 3.1?

Fri, 09/16/2011 - 17:27 | Link to Comment Skid Marks
Skid Marks's picture

QE-E 3.1

The latest round of American financial assistance came Thursday with a promise by the Federal Reserve to swap as many dollars for euros as European bankers need.

 

US taxpayers could be on hook for Europe bailout

http://bottomline.msnbc.msn.com/_news/2011/09/16/7795342-us-taxpayers-could-be-on-hook-for-europe-bailout

Fri, 09/16/2011 - 17:32 | Link to Comment IQ 145
IQ 145's picture

Yeah; I see that as the Liquidity; or promise of liquidity; that allows the psychology to change and the market broke out above 1200. Oh, by the way; it is not a short covering rally; tha's more assinine BS. Accumulation is taking place; People are buying stocks. Your Guru is wrong; I'm sure you'll get over it.

Sat, 09/17/2011 - 00:39 | Link to Comment Caviar Emptor
Caviar Emptor's picture

There are few "people" in this market: more than 75% of daily NYSE volume is program trading (HFT bots ping ponging to each other and themselves). Of the remaining 25% half is day trading only. Only 12% gets held longer than intraday. 

And More data: mutual fund equity withdrawals have been going on all year. This summer several major hedge funds blew their cookies. 

Unfortunately the market has lost it's wealth effect for the general economy and the US population not working in trading on Wall Street. 

We're concerned here about the ongoing effect of Fed policy on the state of the US economy and the future well-being of the nation. The policies may benefit the stock market but are having an inverse effect on the health of the country. 

Sat, 09/17/2011 - 01:36 | Link to Comment prains
prains's picture

decimal the left

Fri, 09/16/2011 - 18:07 | Link to Comment 01022010
01022010's picture

skid marks...i'll give you an upvote just for the profile pic!

Fri, 09/16/2011 - 20:06 | Link to Comment nmewn
nmewn's picture

Silicone glows under a black light ;-)

Sat, 09/17/2011 - 13:02 | Link to Comment JW n FL
JW n FL's picture

 

 

the women down voted you for illuminating the facts, LOL!!!

I of course voted up for Boobies of any kind! I am Pro-Boobies!

Even Babies Love Boobies! how can someone NOT! Love BOOBIES!

Sat, 09/17/2011 - 13:03 | Link to Comment JW n FL
JW n FL's picture

 

 

but there is that Rule..

whoever Buys them! does not get to play with them.. that is for the next giuy after the guy who bought them! LOL!!

Fri, 09/16/2011 - 17:28 | Link to Comment IQ 145
IQ 145's picture

Whinning because you don't like the fact that the market is rallying is infantile; "Rosie" is an ass.

Sat, 09/17/2011 - 01:37 | Link to Comment prains
prains's picture

IQ 14.5

 

your decimal is in the wrong spot, starting to repeat myself

Sat, 09/17/2011 - 10:43 | Link to Comment bonddude
bonddude's picture

Sorry Rosie but you've been wrong so long = broken clocks , etc...

Sat, 09/17/2011 - 19:00 | Link to Comment maninthbx
maninthbx's picture

[ ] Whining
[x] Whinning

 

Sat, 09/17/2011 - 00:13 | Link to Comment jackinrichmond
jackinrichmond's picture

it's a bear market rally..  a  a relief rally if you will.      all the fib retracements make sense..

 

Fri, 09/16/2011 - 16:46 | Link to Comment jdelano
jdelano's picture

Yeah--I thought that's why we've been range bound for so long. Bears say global economy sucks & Europe gonna crash, bulls say who cares mofos, giant QE coming. Personally I think not even bernanke is that short sighted. He does a massive QE with inflation already ticking up like it is and china will retaliate by dumping the dollar. Game over.

Fri, 09/16/2011 - 16:00 | Link to Comment Shit Bag
Shit Bag's picture

America is fucked up forever unless Ron Paul gets elected.

Fri, 09/16/2011 - 16:43 | Link to Comment max2205
max2205's picture

It would be cool if Ben came to the mike naked with a monkey and they both masterbated. Then said he quit after he cums on Liesman's face

Fri, 09/16/2011 - 16:51 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

Ben or the monkey?

Fri, 09/16/2011 - 16:57 | Link to Comment Kali
Kali's picture

both

Fri, 09/16/2011 - 20:13 | Link to Comment FEDbuster
FEDbuster's picture

Maybe Becky Quick could be his fluffer and Jim Cramer the jizz mopper?  "Touch my monkey".

Sat, 09/17/2011 - 09:22 | Link to Comment PMakoi
PMakoi's picture

LOLOLOL!  That is the hardest I've laughed in 3 days!  Thanks.

 

Fri, 09/16/2011 - 18:15 | Link to Comment depression
depression's picture

Ron Paul = Ross Perot 2.0

Fri, 09/16/2011 - 20:02 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Perot sure tanked beautifully didn't he?

Fri, 09/16/2011 - 21:19 | Link to Comment bid the soldier...
bid the soldiers shoot's picture

Dude, he put Clinton in the Oval Office and perforce a cigar in Monica's ash tray.

Sat, 09/17/2011 - 07:16 | Link to Comment Pant Suit Skidmark
Pant Suit Skidmark's picture

He drunk a little of the toilet water too.

Sat, 09/17/2011 - 00:37 | Link to Comment fxrxexexdxoxmx
fxrxexexdxoxmx's picture

More people voted for Bush and Perot than for Clinton. I still remember his lackeys repeating "President Clinton has a mandate from the people" over and over after the he was inaugurated.

Clinton 44,909, 806   Bush 39,404,950 Perot 19,743,821 ( 59,148,771) per wiki or any search of 1992 Presidential election results. Thats 14,238.965 more than Bill.

The only mandate Clintooon every had was keeping one step ahead of his last rape.

BTW if oral sex is not sex, per Clinton and his apologists, they could twist that insanity so as to have had Chelsea blow Bill and it would not have been incest.

What bunch of scum bags.

Sat, 09/17/2011 - 05:39 | Link to Comment chindit13
chindit13's picture

I'm not sure you noticed, but Clinton has been out of office for ten years and eight months.  It was in all the papers.  Also, the rules of the electorate are only slightly complicated, but according to those rules Clinton was entitled to take office when he did.  Whether or not you gave him a mandate is of no import, for you do not carry that authority.  Just for fun I checked the definition of "mandate".  Here it is:  the authority bestowed on a government or other organization by an electoral victory, effectively authorizing it to carry out the policies for which it campaigned.  Getting the highest number of votes and electoral votes constitutes victory.

Sat, 09/17/2011 - 07:22 | Link to Comment Pant Suit Skidmark
Pant Suit Skidmark's picture

Sour grapes, exactly. Everybody wants a Lewinsky facial with icing on the dress.

Nice to see what a nice little middle-eastern girl will do for her country.

Fri, 09/16/2011 - 23:06 | Link to Comment Miss anthrope
Miss anthrope's picture

sorry, but ross perot was a third party to split the republican vote and get clinton elected.  that's not why all of the MSM will not even SAY HIS NAME NOW.  if ron paul gets the republican nomination he will be president. 

Fri, 09/16/2011 - 20:00 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Shitbag, I dig your funky groove, man.  Conk-a-chonk-conk-conk-a-chonk!!!

Fri, 09/16/2011 - 16:52 | Link to Comment Abitdodgie
Abitdodgie's picture

You are already thier surfs, you pay taxes dont you.

Fri, 09/16/2011 - 21:27 | Link to Comment johnnynaps
johnnynaps's picture

You got that right! The crowd that gets boned the most are the people making $35k-$60k a year. They don't qualify for a handout, taxed unmercifully, car insurance is a substantial TAX, bridge+road tolls are cruel to this group not to mention gas! Unfortunately, most Americans fall into this category and most of them receive one week vacation and work over the 50+ hours a week. I was in this category until I lost my God-forsaken job. Now, still chillen on my unenjoyment! Fuck this system, I refuse to pay into this mess. I am better than that, and so are the rest of the workers!

Fri, 09/16/2011 - 22:55 | Link to Comment Jumbotron
Jumbotron's picture

NOW....there's the rub.

That's how you take out the system without firing a bullet.  By going Joh Galt.  I want to kick every one in the ass with the insipid "Where is John Galt" sticker on their car.

YOURE John Galt if you had any balls.  Why wait for Atlas.  Shrug your own damn shoulders.  All of you.

But you losers are too cowardly to just quit your jobs enmasse or pick up the gun like your Revolutionary Forefathers.

And yet...17 more Syrians took a bullet and died today for their freedom.....how utterly rotten and pathetic a people America has become.

 

Sat, 09/17/2011 - 01:04 | Link to Comment daxtonbrown
daxtonbrown's picture

There's a book called "Going Galt" http://www.futurnamics.com/goinggalt.php

Fri, 09/16/2011 - 23:58 | Link to Comment CrazyCooter
CrazyCooter's picture

Mind if I ask what kind of work you were doing before unemployment (generalization is fine)?

Regards,

Cooter

Sat, 09/17/2011 - 06:26 | Link to Comment johnnynaps
johnnynaps's picture

Pharmacy manager, I mean slave! One streak I worked 22 out of 23 days. And on day 17 in the streak, I worked a 19 hour shift.

Sat, 09/17/2011 - 07:43 | Link to Comment Pant Suit Skidmark
Pant Suit Skidmark's picture

Oh, ok I don't mind. I'm the head of the DNC and a distinguished congress lady.

Sat, 09/17/2011 - 12:37 | Link to Comment Cathartes Aura
Cathartes Aura's picture

no, you're yet another dude with a new account, trolling with pixelated female bits, nothing to add but snark, just part of the gang, along for the ride, the lulz.

and yer amrkn too, yes?

Fri, 09/16/2011 - 16:57 | Link to Comment AGuy
AGuy's picture

They don't want the system to crash. Americans are already serfs. If the system was to crash the serfs might stage a rebellion, and overthrown the overlords.

Fri, 09/16/2011 - 20:20 | Link to Comment onearmedlove
onearmedlove's picture

Have you ever wondered why they fly war planes over football stadiums before the game starts? It is to say "DEAR SERFS YOU COULD NEVER WIN. PS: GO TO WORK MONDAY."

Fri, 09/16/2011 - 22:54 | Link to Comment Jumbotron
Jumbotron's picture

Oh say can you Serf?  By Dawn's early light. Do that extra paper work.  That we gave you last night?

Sat, 09/17/2011 - 09:31 | Link to Comment barroter
barroter's picture

That's apt.  Remind the peasants they have little real choice and they should embrace apathy. Frank Zappa had a great line, "You will do as you are told, until the rights to you are sold."

I wonder how the our monied gentry can manipulate this economic storm to finally gain more real power over the American serf.  A slow, continued "Krystalnacht" that targets any supervision of the market seems to be the order of the day.   The elite will scream for more laissez faire and get the suckers to believe the rich can Save the World.  Reminds me of the run up to the Iraqi War. "Believe us or we're all gonna DIE! Ohhhh Hurry! Pass this legislation!!" I suppose a harder more painful crash might motivate the proles to beg to be led out of the darkness. 

Form never changes, only the content. Humanity doesn't change, only what it believes at the moment.

The sheep love finding a savior that'll protect them.  Germans gladly handed over the Weimar Republic to the Nazis.  I wonder who the American people will hand everything over too finally. Behind the curtains, our gentry are working tirelessly to bring this about.

 

 

Fri, 09/16/2011 - 19:31 | Link to Comment jdelano
jdelano's picture

Abuse@zerohedge:

Tylers--please be advised that Ben Bernanke is about to abuse his powers again. And, on a totally unrelated note, that people who advertise their IQ in their online aliases are really just advertising their inferiority complexes.

Thanks,
J Delano

Sat, 09/17/2011 - 04:23 | Link to Comment mkkby
mkkby's picture

Rossy has a short memory.  The last QE raised the Dow -- but only for about the first half.  After that stocks fell because of rising bond yeilds, oil, ag commodites and inflation.

And lets not forget the rising inflation caused social unrest around the world.

No reason to believe the next QE will work any better.  Bail out banks.  Lets them dole out big bonuses.  Everyone else thrown to the wolves.

Fri, 09/16/2011 - 15:04 | Link to Comment iDealMeat
iDealMeat's picture

Fuck you Ron Paul..  Quit wasting your time getting ignored before,
during and after the debates.. Do your fucking job and stop this
senseless presidential pursuit. You have what you want RIGHT fucking
NOW.  use it..

Right now you have the opportunity of your lifetime to tilt the county
to that you wish to preside over. You should be hauling in EVERYONE
in front of your Subcommittee for questioning. Daily...  All day..  Every
day..
Subpoena EVERY SINGLE individual at the Fed. Separately..
Ben is obviously well practiced at blowing smoke under scrutiny. But,
the rest of the board isn't. One or two of them will trip up, go off script,
and spill out some truth. Do it to TBTF too..  At the very least it will
scare the shit out of them..  Deservedly so..

Get to work old man..  Call some bitches to the floor and fight..

  Or lose my vote..

From wiki:
"Members, 112th Congress

In December 2010, Bloomberg Businessweek reported that incoming Speaker of
the House John Boehner was considering ways to prevent Ron Paul, who has
long been a critic of Ben Bernanke and the Federal Reserve System, from
becoming chair of the subcommittee or restrict his authority.[2][3] Paul has
stated that he will use the position to draw attention to the Fed's policies
and what he perceives to be its negative consequences.[3]"

 

Fri, 09/16/2011 - 15:06 | Link to Comment NotApplicable
NotApplicable's picture

The key to happiness is lowered expectations.

Fri, 09/16/2011 - 15:17 | Link to Comment hambone
hambone's picture

Fri, 09/16/2011 - 15:34 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Way O/T, but here is an interesting link I just saw at Drudgereport re the KH-9 spy satellite from the 1970s and 1980s that will BRIEFLY be shown to the public.  Fans near DC may want to go and check it out.

http://www.washingtonpost.com/blogs/checkpoint-washington/post/top-secret-us-surveillance-satellite-now-declassified-gets-a-public-showing-in-virginia/2011/09/16/gIQAMVssXK_blog.html

Fri, 09/16/2011 - 15:49 | Link to Comment A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Yaaah! I get to see my Mom & Dad's wasted tax dollars from the 1970's.

 

And the motherfuckers said I was an accident. Well who's in the old age home now bitchez?

Fri, 09/16/2011 - 16:45 | Link to Comment citta vritti
citta vritti's picture

Who knows, maybe you were an accident -- iirc, there was a fair amount of recreational procreating while protesting - or maybe those were the concerts. Who can remember? Anyway, sadly, having decided to live and pay taxes in the U.S.A., unless one of 'em was in Congress or Executive Branch, they had almost as little effective say about how their tax dollars were spent as we have today. On the assumption maybe they tried via protest or other means, or maybe because they seem to have done the right thing in the case of this particular "accident" by going ahead and raising you in one way or another, maybe cut 'em some slack and visit 'em in the old age home. Then again, if Medicare's paying for it (by which I mean you and me and everyone else), they've got you and me coming and going. So you might as well love 'em as not. Just sayin'. 

btw, the South Park episode with the awesom-o 4000 is, well, awesome. How's your Brittany Spears imitation (or whoever it was)?

Sat, 09/17/2011 - 12:00 | Link to Comment whstlblwr
whstlblwr's picture

@idealmeat, For Christ sake, man is campaigning full-time. He's talking about Fed all day on pulpit. What the fuck are you doing besides demands. Are you working on campaign?

Also for you scared of nuclear Iran, have to make decision what scared of more. Scared of Paul thinking okay for nuclear Iran that Congress will vote NO, or Paul not President and watching more corporate rape of taxpayer assets. Socialized loss, and privatize profits, big war machine that funds spying and loss of freedom in US?

Sat, 09/17/2011 - 12:50 | Link to Comment iDealMeat
iDealMeat's picture

I pay taxes.. therefore I am.

I'd rather Ron Paul talk TO / depose the FED in front of Americans. Not talk to Americans about the FED. His campaign is a waste of his time and will result in failure. He's also passing on the opportunity of his lifetime to be legend.

I'd give all the gold and silver I have for a trade of 1 week in his position and powers he currently has.

 

Fri, 09/16/2011 - 16:51 | Link to Comment e_goldstein
e_goldstein's picture

Actually, those are probably our wasted tax dollars that the politicians in the 70's indebted us for... 30 year bonds and such.

 

Fri, 09/16/2011 - 18:22 | Link to Comment depression
depression's picture

Ron Paul will fade from the presidential race as soon as his big fundraiser is completed. I have to give the ole' doc credit, he has found a really nice way to pocket $4 or 5 million every election cycle. He is like the little steam whistle on the tea-pot. He gives the fringe a platform to vent their frustrations. Ron Paul's "Money Bomb Constitution Day" is tomorrow folks, be sure to click on the donate button, you will feel better knowing you participated in the political process. And Ron will sure feel a lot better with your $ in his pocket !

Fri, 09/16/2011 - 20:24 | Link to Comment FEDbuster
FEDbuster's picture

I bought a Ron Paul t-shirt and a few bumper stickers for 2012, but no more money bombs to any of them.  Ron Paul should be taking these banksters to task, lots of talk no action. 

I did enjoy watching Peter Schiff (an economic adviser to R.P.) school a few of them the other day in a hearing on the Obama Jobs Act bill.  Peter really should be on the other side of the room asking the questions, what is wrong with people in CT (don't answer that one)?  Take the time to watch the Schiff highlights, it's worth the twenty minutes enjoy:

http://www.youtube.com/watch?v=_BHLguFEN3M&list=FLDqTwQ_Aj90G1wgtmXVbQxA...

Fri, 09/16/2011 - 21:32 | Link to Comment johnnynaps
johnnynaps's picture

The smart people of CT thought they could "wrestle" their way out of this mess and allowed Linda McMahon to beat Schiff in the Primary!

Sat, 09/17/2011 - 02:46 | Link to Comment IQ 101
IQ 101's picture

    Ron Paul                   B

  Feared by so                    A

many here, has                      L

  more balls N truth                     L

    than any old Romney           S

      queer. Perry on tv                

       seems full o shit to             T

        me, sometimey Rhinos.      R

        Perot financed himself,        U

         bad time, mad elf, but        T

         Ron holds all poles and        H

         Obama knows, opposition

         ever grows,and all this Shit

         called easy money, for Wall

         street pals and banker honeys,

          soon must end,by natures call ,

          and off they go,against the wall ,

             go long,Piano wire, to see the boss,

               and join the choir, Ron has the balls to

         Speak the truth,more than any under that sad

      Congress roof, will you vote for things as usual?????

   YOUR TAXES SPENT, JUST TO ABUSE YOU! AND TASTE THE 

 PAIN, IN YOUR OLD AGE, OF GRANDCHILDREN, 1/10TH YOUR AGE,

IN SERVITUDE AND SLAVERY,DEVOID OF WEALTH,FREEDOM AND HEALTH

 WHAT SAD PLAN IS THIS? TO GIVE THIS VOTE A MISS.No fluke is Ron,

  the only one!  The Army home and taxes gone,liberty restored,        stupidity, ignored. the welfare check is in the mail, dont hold your  breath, their slow as hell,    (Beer, what cant it do ?)

Sat, 09/17/2011 - 12:34 | Link to Comment Cathartes Aura
Cathartes Aura's picture

(Beer, what cant it do ?)

 

promote critical thinking & rational argument.

works great for flag waving though, apparently.

Sat, 09/17/2011 - 07:51 | Link to Comment clymer
clymer's picture

 

please.. to insinuate Ron Paul is pocketing the money his presidential campaign collects to compete with the corporatized machine is silly. If it wasn't for Ron Paul, 99.99% of the zombied, mono-lingual, NFL-groped-before-game-watching, mentally,morally,spiritually bankrupt American people would still conclude that the FED is one of the 8 branches of government (congress, president, courts, ATF, CIA, FBI, IRS and FED).

 

At least his message has gotten it down to 99.7%

Sat, 09/17/2011 - 08:54 | Link to Comment GetZeeGold
GetZeeGold's picture

If Ron Paul gets elected then Tel Aviv pops off like a lightbulb from a nuke flash.....cause Ron thinks it's cool for Iran to have nukes.

Ron Paul is an idiot. The freaks in Iran are serious about that 12th imam shit.

http://en.wikipedia.org/wiki/Muhammad_al-Mahdi

 

Sat, 09/17/2011 - 10:34 | Link to Comment Are you kidding
Are you kidding's picture

And what are we doing now?  Just putting off the inevitable.  They WILL get one some day.  No matter WHAT you do.

Fri, 09/16/2011 - 15:56 | Link to Comment hambone
hambone's picture

key to clearing a hangover is either finger down the throat, gut wrenching vomit through the mouth and nose (and possibly backdoor failure in the process) to clear the toxins...or...continue drinking non-stop til the liver, et al, go. 

It's our collective diminished liver's functioning (and vital organs in general), I suppose, we're all interested in at this point.  But drink we will cause I don't think the body could handle going straight any longer.  Poor dependent, addicted fuckers are we.

Fri, 09/16/2011 - 16:16 | Link to Comment nantucket
nantucket's picture

the first part was effin hilarious

 

 

Fri, 09/16/2011 - 20:12 | Link to Comment nmewn
nmewn's picture

I'll drink to that.

Fri, 09/16/2011 - 21:35 | Link to Comment Bithead1
Bithead1's picture

I almost had backdoor failure reading that...that was fn hilarious.

 

Fri, 09/16/2011 - 16:40 | Link to Comment Seer
Seer's picture

And all that glorious tech and taxdollars allowed the US to see the fall of the Soviet Union!  Oh, wait!....

And the Nazi band plays on...

Fri, 09/16/2011 - 15:35 | Link to Comment Hugh G Rection
Hugh G Rection's picture

"he has to do that and a lot more to generate the positive surprise"

I have an idea Bernank... seppuku

http://en.wikipedia.org/wiki/Seppuku

Fri, 09/16/2011 - 16:20 | Link to Comment Spirit Of Truth
Spirit Of Truth's picture

Ben could pleasantly surprise the world by resigning. :)

Fri, 09/16/2011 - 21:23 | Link to Comment mick_richfield
mick_richfield's picture

And then the governor of the Bank of Japan will commit sudoku.

Fri, 09/16/2011 - 22:24 | Link to Comment Diogenes
Diogenes's picture

Who wants to watch 2 fat guys in diapers butt heads.

Fri, 09/16/2011 - 16:05 | Link to Comment Spastica Rex
Spastica Rex's picture

How Zen of you. Does Hegel agree?

Fri, 09/16/2011 - 16:35 | Link to Comment kaiserhoff
kaiserhoff's picture

Perhaps Ron could raise the dead and move a few mountains in his spare time?

Fri, 09/16/2011 - 17:24 | Link to Comment JohnG
Fri, 09/16/2011 - 20:07 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Well NotApplicable, just bend over and dig the funky groove, man.  Conk-a-chonk-conk-conk-a-chonk!!!

Fri, 09/16/2011 - 15:12 | Link to Comment john39
john39's picture

you only get the illusion of choice my friend...  to keep even the critics believing that the system could work...  its just the current players that need to be fixed... right?

Fri, 09/16/2011 - 16:42 | Link to Comment Seer
Seer's picture

Do people demand a really just system? Well, we'll arrange it so that they'll be satisfied with one that's a little less unjust ... They want a revolution, and we'll give them reforms -- lots of reforms; we'll drown them in reforms. Or rather, we'll drown them in promises of reforms, because we'll never give them real ones either!! - DARIO FO, Accidental Death of an Anarchist

Fri, 09/16/2011 - 20:07 | Link to Comment rwe2late
rwe2late's picture

Promise them everything, give them nothing

-Napoleon Bonaparte

Fri, 09/16/2011 - 15:13 | Link to Comment rdenner
rdenner's picture

I am a HUGE Ron Paul fan and I completely agree with this comment...

 

What the hell good is having a REVOLUTION if he is afraid to pull the trigger. Now don't get me wrong, if I were him, I'd be pretty freaking afraid. He is flying all over the nation in private jets now... Seems like anyone who calls the Fed to the mat, has a strange habit of hitting mountains on clear days...

That having been said, he is lapping up the attention as being the head of the Ron Paul Revolution...Time to put up or shut up Dr Paul.... Just be careful.

 

Robert

Fri, 09/16/2011 - 16:03 | Link to Comment optimator
optimator's picture

Dr. Paul is our one and only and I'm afraid, last chance. 

Fri, 09/16/2011 - 19:13 | Link to Comment JW n FL
JW n FL's picture

 

 

then you had better be stocked up with ammo.. huh???

Fri, 09/16/2011 - 20:26 | Link to Comment FEDbuster
FEDbuster's picture

"Brass and lead, the other precious metals"

Fri, 09/16/2011 - 21:56 | Link to Comment JW n FL
JW n FL's picture

 

 

Fed Printing Machine... Trillions of Dollars.

Government Blinded by Lobby Dollars... 100's of Billions of Dollars.

Having a couple gun safes filled to the top... Priceless.

 

Fri, 09/16/2011 - 16:30 | Link to Comment whthewrld
whthewrld's picture

Would we even hear about it if he did call them in? Stuff like this never sees the light of day in the mainstream.

Fri, 09/16/2011 - 17:46 | Link to Comment LowProfile
LowProfile's picture

Yeah, throw all the weight on the old man shoulders.  He should do more!

What the fuck have YOU done for Liberty, you fucking whiny bitch!

GET OFF YOUR FAT ASS.

Fri, 09/16/2011 - 18:07 | Link to Comment Malachi Constant
Malachi Constant's picture

GET OFF YOUR FAT ASS.

And subpoena everyone in the Fed and TBTF? No problem! Lead the way.

Fri, 09/16/2011 - 19:02 | Link to Comment ljag
ljag's picture

Dr. Paul. Are you familiar with the Koch Bros. from the state of Kansas?...........'nuf said.

 

Sat, 09/17/2011 - 11:42 | Link to Comment Conrad Murray
Conrad Murray's picture

Not 'nuf said. I don't follow. Would you be so kind as to elaborate on this Koch Bros from Kansas for those of us outside of your totally rad inner sanctum of wicked knowledge?.....................................Just Sayin, Bro.

Fri, 09/16/2011 - 22:03 | Link to Comment European American
European American's picture

Paul seems to be the only politician who has managed somehow not to be someone's bitch. That, in and of itself, is quite miraculous considering the temptation to sell one's soul, in return for the perceived rewards, having reached epic proportions in these dark times we live in. I would suspect he's somewhat shellshocked from the constant pounding he's taken over the years. Still though, I'm expecting a lot more from this trooper. He's got to step it up to blast through the lethargy of ignorance standing steadfast in his/our way. His vocal delivery needs improvement and he needs to take a "no holds barred" approach when debating the totally looney candidates, bought and paid for by the Zionists.

Sat, 09/17/2011 - 10:20 | Link to Comment chindit13
chindit13's picture

"strange habit of hitting mountains on clear days"

Sounds like this happens a lot.  Perhaps you'll list all of these "anyone" s.

Fri, 09/16/2011 - 15:16 | Link to Comment Jumbotron
Jumbotron's picture

Ron is just another in a long line of useless bitching and moaning Americans.

Look at the recent SAT scores.  America can hardly read and comprehend anything more than "Do you want fries with that?" much less pay attention long enough to see some old libertarian fart ask some more old farts about Federal Reserve policies, which the masses would not understand anyway.

America has two choices.....deal with the collapse and start over or pick up the gun.

But change will certainly not come from a useless paper ballot which has already been bought by useless paper money.

OR an electronic ballot made usesless by an electronic transfer of funds.

Fri, 09/16/2011 - 15:31 | Link to Comment Smiddywesson
Smiddywesson's picture

Look at the recent SAT scores.  America can hardly read and comprehend anything more than "Do you want fries with that?"

Not tru, where as smart as we ever wuz, and even read more than before cuz we text all day.

Fri, 09/16/2011 - 15:35 | Link to Comment Jumbotron
Jumbotron's picture

thts sum funi sht rht ther btch...LOL

Fri, 09/16/2011 - 22:53 | Link to Comment Doofer
Doofer's picture

Yo Not tru, where as smart as we's ever wuz, an' even read mo' than 'bfoe cuz we's werds n shit all day Ya' dig?

Fri, 09/16/2011 - 16:00 | Link to Comment unununium
unununium's picture

The headline said we were as dumb as hammers.  The chart said average score is 496 now vs 523 in 1973.

That 7% decline could have come from a lot of places such as population mix changes.  Just sayin', don't turn off your critical thinking skills just because you read it on ZH.

Fri, 09/16/2011 - 16:11 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Yes, from immigration, changes in education methods, etc.

Fri, 09/16/2011 - 16:19 | Link to Comment Spastica Rex
Spastica Rex's picture

Watch what you think there, citizen. All problems in education can be traced to poor teachers. This can only be remedied by increased regulation at the national level and strict systems of accountability at the state level - all very well staffed by highly qualified educational leaders. Remember that.

Fri, 09/16/2011 - 16:49 | Link to Comment Skid Marks
Skid Marks's picture

NEA = 3.2 million members = 5 million votes (spouses included)

Remember that.

 

http://www.nea.org/

 

 

Fri, 09/16/2011 - 17:19 | Link to Comment Spastica Rex
Spastica Rex's picture

USA teacher salaries and bennefits ~= $350 billion annually. Surely 20% to 30% of that could be reallocated to testing companies, trainers, consultants, software developers, adminstrators, state officials, and etc? If only standards could be enforced at the national level, bold leadership translated into effective central planing married with efficient delivery by the for-profit sector would quickly solve all problems. The homeland deserves it.

Oh, and nice tits.

Fri, 09/16/2011 - 20:40 | Link to Comment XenoFrog
XenoFrog's picture

Only about 85% of us NEA members are mindless Democrats. There are fiscal conservatives like myself who are unwilling members.

Fri, 09/16/2011 - 21:26 | Link to Comment Spastica Rex
Spastica Rex's picture


A fellow teacher! Actually, I'm a former teacher/adminstrator/bureaucrat. I have a great deal of respect for good teachers - and there are plenty. Public education has suffered terribly at the hands of the unions and the Feds - more or less equally, IMO. National unions are pretty much captive now, anyway, and school adminstrators have become little more than bagmen for the education reform scam.

Fri, 09/16/2011 - 17:03 | Link to Comment Kali
Kali's picture

NO!!!!

All problems in education can be traced back to the fucking PARENTS!!  If the schools are shitty it's the PARENTS fault.  If your schools are so shitty and you can't/won't do anything about it, the PARENTS should be doing the educating.  Fuck.  My great-grandmother taught me to read, write and do simple math before I even got to kindie garten.  It is the will and want of the family that makes sure a child gets educated.

Fri, 09/16/2011 - 17:30 | Link to Comment Spastica Rex
Spastica Rex's picture

Actually, we don't have a public education system, we have a public schooling system. The purpose of the public schooling system is to sort children. Unfortunately, the sorting mechanism was designed for the industrial era, and it's no longer working very well. Education reform is designed to re-tune (de-tune, really) the mechanism to the realities of global wage arbitrage. The world doesn't need an American "middle class" anymore, and really doesn't need much of an American public "education" system anymore. That money could be much better spent by the Gates Foundation, The Broad Foundation, and many, many, for-profit ventures eager to explore the "education" "space." They have some great ideas about sorting, I'm sure.

You are 100% correct about education in its meaningful sense - which has little to do with public schools.

Fri, 09/16/2011 - 20:22 | Link to Comment nmewn
Fri, 09/16/2011 - 20:24 | Link to Comment Spastica Rex
Spastica Rex's picture

Yup. I agree about 95% with his diagnosis. I'm ambivalent about his perscription.

Fri, 09/16/2011 - 20:42 | Link to Comment XenoFrog
XenoFrog's picture

This is absolutely true. By the time of elementary school, your kid's fate is largely sealed. It can be pushed a bit in either direction through good or bad teachers/schools but the first 5 years of a kid's life is the foundation for the rest. Crappy foundations lead to crappy buildings.

Fri, 09/16/2011 - 22:04 | Link to Comment cynicalskeptic
cynicalskeptic's picture

Sorry but it's earlier than that.  

Who the parents are, what they do, where they live matter - as does the genetic potential (like it or not).   The well off have better schools and the means to make up for any shortcomings their kids show.  A kid wiht huge potential isnot likely to go places if born dirt poor or in the middle of nowhere.  Yes there are exceptions but they stand out BECAUSE they beat the odds - a math prof my oldest had - born in some dirt poor village in the middle of nowhere learned math from some college text he stumbled upon.  Teachers recognized his potential.  But if you're born into a black inner city family or some hispanic famliy in the Inland Empire... lots of luck no matter how smart you are.  The odds are against you in a piss poor public school system.  And your parents are unlikely to know better or have the means to do anything about it.

And like it or not, genetics DO matter - not completely but enough.  Dumb as rock parents are not all that likely to have really bright kids and if they do are likely to keep them from reaching their potential.  Again there are always exceptions but they stand out BECAUSE they are exceptions.  

But take heart - event hose with everything going for them - priviledge, money, connected paretns who get them into college and even get them jobs can still blow it big time.   But then it takes a LOT for those at this level to screw their life entirely.  If you're a poor kid, getting caught with a few joints is enough to ruin YOUR life.

The class system is alive and strengthening in America.  You may have had a period where talent mattered and opportunity existed for most (though never all) who showed potential but those times are gone.  A worthwhile college education is becoming more and more unaffordable and the alternatives are fewer and fewer.    The truly bright and talented can always fond a niche but for most - for the average person - things are bad and getting worse.

My parents were working class - am first and only in my family to get a degree.  Wouldn't happen today under the same circumstances.  Couldn't afford it. Same for my wife.   

Fri, 09/16/2011 - 18:46 | Link to Comment Mitzibitzi
Mitzibitzi's picture

Or.. you could hire teachers that actually give a fuck about something other than a fat pension? That might help, maybe.

Same useless shower of shit in my cuntry, of course, cos that's the socialist way!

Fri, 09/16/2011 - 21:28 | Link to Comment Spastica Rex
Spastica Rex's picture

Yeah, I've always thought you would get better teachers by paying them less - then only the really dedicated ones would do it. Drop teacher salaries to minimum wage (or lower) and watch the real star teachers come out of the wood work.

Fri, 09/16/2011 - 22:02 | Link to Comment Kali
Kali's picture

or the pedophiles

Fri, 09/16/2011 - 22:31 | Link to Comment nmewn
nmewn's picture

"The Class of 2011 logged the lowest SAT reading scores ever, while the combined reading and math scores hit their lowest point in 16 years, the College Board said today. Just over 40% of the high school seniors met benchmarks for college success."

http://content.usatoday.com/communities/ondeadline/post/2011/09/sat-reading-scores-hit-record-low-for-class-of-2011/1

Siiigh...and the plebes will be told, once again, there's not enough money going toward primary education. You see, in this new elitist paradigm of underperformance, there can never be enough money spent in primary education.

For when you finally master basic math & reading in junior college you will be ready for more advanced courses taught by the likes of Krugman & Romer.

Fri, 09/16/2011 - 22:47 | Link to Comment Spastica Rex
Spastica Rex's picture

They'll also be told that national standards and shit loads of money spent on tests and staff "development" and more technology will fix the problem. Funny thing; they've been saying that for 30 years.

Fri, 09/16/2011 - 16:43 | Link to Comment Socratic Dog
Socratic Dog's picture

Umm, 27 points is 5.16% of 523.  Not 7%.

Fri, 09/16/2011 - 17:44 | Link to Comment WSP
WSP's picture

Ununumium is correct.  While I would be the last person on earth to say that Americans have common sense, the fact is today's student  is much more "book smart" than in 1973, and if you took the exact same segment of the population that took the test in 1973 SAT scores would be significantly higher. 

The reason "average" scores are dropping is due to many more people taking the test; in particular, people who would have never taken the test back in 1973.   The reason:  we have a socialist system now where "everybody" gets to go to college, regardless of ability to pay.  IOW, every child gets a trophy, more kids are taking the test (and going to college) which inevitably means those who should never go to college take the test.    Of course that is a topic by itself, but with regards to "average" scores dropping, the numbers are misleading but quite convenient for politicians and academia to use to create more taxes to use to send more kids to college which further debases the value of the education---ALL WHILE increasing tuition. 

You cannot make this stuff up---its right there and as ununumium implies, you just have to use critical thinking skills, statistics, and what is right in front of you.  Its not hard!

Sat, 09/17/2011 - 00:14 | Link to Comment cynicalskeptic
cynicalskeptic's picture

Newsflash - they RECENTERED SAT scores some time back - raising the average score.  Easier than gettting kids to score higher.... made educators and everyone else look good.  Yoou NEVER see a footnote mentioning this 'scale adjustment' in any SAT score comparisons.  By international standards, US students are scoring lower on math and science. I expect more thann a few countries will beat us in English (countries where it's taught as a second language).   Anf forget Americans knowledge of foreign languages.

I will say that the top 10% or so ARE probably brighter and better than a few decades ago.  The options available to  the very smart have expanded immensely and those at the very top are taking far more demanding classes in HS than we did - more AP classes and college level classes.  However the 'middle' has 'dumbed down' quite a bit.  Whereas you used ot have more 'separation' - Honors along with Ap and 'regular' classes - along with 'special needs' - now you have the very top, special needs and 'the rest'.  Those unwilling or unable to load up on AP classes may find themselves in a zoo of a regular section.  The top 10% USE tohe immense power of the Internet and computers to LEARN - not just play games.  Instead of sitting on the floor with a dozen books open they'll have a dozen windows open on a computer - while SKYOPING a friend about the topic at havnd and IM'ing others.  I was astounded at how my oldest ould be doing homework in one subjec while helping other kids in different subjects.  The kids withthe best note taking abilities formed a 'sharing circle' - some of those study notes have been passed down for years  now.  The best annd brightest take every advantage of all the new tools and technology available to them. 

My own kids have participated in some great programs for G&T - wish they were around when I was younger (and my parents could've afforded them.   The kids in these national programs ARE amazing - astounding BUT.......   they hardly reflect 'average' US demographics.  Johns Hopkins runs a great summer program for accomplished kids (you have to score in the top??% of your age group on any one of various tests like the SAT or others.  But going to the national level awards ceremonies - and simply looking around campuses where this programis run during summers you see a huge number of ethnic Chinese, Korean and South Asian (Indian and Pakistani) kids - along with a surprising number of Russian and Eastern European immigrant kids dominating math and science.  Their parents are clearly 'pushing' them and have high expectations for their children - think 'Tiger Mom'.   Humanities and Social Sciences are better represented by 'average' Americans (though there are a disporportionate number of redheads for some reason).  Sadly you see very few Black or Hispanic kids - which may be a direct reflecrtion of the schools available to them.  One Hispanic scholarship student from CA was from a failing school, trying like mad to do well IN SPITE of the limited options available to them.  They lived for these few weeks inthe summer when they could 'be smart' and enjoy it.  And that is another factor - many of these kids are NOT comfortable 'being smart' in their own schools - they shine in environments where being smart doe not make them a social outcast.  These kids stay ion touch and have the tools to do so.  A kid in NY will stay friends with another in CA or Hong Kong.  They make life long connections that we would never dream of.  Myoldest - at a top school here remains in touch with a kid from Georgia (Republic of) and Hong Kong - as well as others all over the US.  Whe he showed up at college he met others he'd taken classes with summers back or friends of people that had done so.  These kids are doing remarkable things - and have a sense of world-wide community that you do not see in older people.  They have a higher level of general awareness - thank God.  If the world is going to survive we'll need the talents this group possessses.

Clearly there are cultural issues at play.  You have many foreign students in these programs - just as you have many foreign students in advanced degree and post-doc programs as well.  These students have parents LASER focused on education and demanding the most possible from their children.   But economic issues are HUGE as well.  Such programs are not cheap - though there are scholarships available few deserving kids know these programs exist and their schools are usually oblivious.   Guidance staffs in most publis schools are woefully inadequate and uninformed.  This is one advantage private schools provide - thier guidance and college placement staffs are far better than what you see in public schools.

Personally I think most kids have the potential to do far more than tehy do in 'regular' schools.  Kids are naturally curious and - if this is nurtured - they WANT to learn.  But schools often neat this curiosity out of them - as do parents.  How many times have you seen a small children ask a parent a question only to hear 'Not now' or ' stop asking me questions'?  And being blunt - the first few years of a kid's life are CRITICAL but few parents have the time to spend with kids then - most are working now and are all too content to plop a kid in front of a TV instead of reading to them, or taking them to a Zoo or museum or JUST SPENDING TIME WITH THEM.    "Quality time' is pure BS - a meme that says you can make up for the lack of time spent raising your kid with the TYPE of time.  PURE CRAP.  Some of the mot important learnign a child does happens unexpectedly - prompted by circumstances.  THEY have a question - or revelation - and try to explore it further.  You are there to help themand answer the queation or explore their thought - or not.  Parenting is HARD work and TIME CONSUMING.   I laugh at all the parents who want special help for their kids - say a special reading teacher - to make up for the fact that they NEVERread to their own kid (and the person raising their children in their absence did nort or could not because English was not their first language).   It's a riot seeing some of the BEST educated parents turning over child rearing to the cheapest help they can find, while most of the middle class is muddling by with cobbled together echild care because BOTH PARENTS HAVE TO WORK to pay their bills.  

Sadly only a small number of kids are approaching their full potential - but those that are doing so are going further, faster, because of the tools they have available.   It wouldn't be that hard to extend such opportunities to ALL, but I doubt that'll ever happen.   Too much vested interest in keeping things as they are.... and besides.... like it or not - there are only so many jobs at any given level of educaition.  Already you have Inidia graduating more engineers and scientists than they can effectively put to use - hence the outsourcing of US jobs at relatively high levels.  Indian Systems Analysts and Programmers are cheaper than US ones.

 

Sat, 09/17/2011 - 05:40 | Link to Comment MisterMousePotato
MisterMousePotato's picture

"Kids" are baby goats. "Children" are young humans.

Sat, 09/17/2011 - 13:15 | Link to Comment Cathartes Aura
Cathartes Aura's picture

and "bitches" are female dogs - welcome to ZeroHedge.

Sat, 09/17/2011 - 00:02 | Link to Comment xtop23
xtop23's picture

I know a lot of folks that cant score well at all on an SAT but they have enough common sense to make many "scholars " look underqualified to operate a can opener.

Fri, 09/16/2011 - 16:04 | Link to Comment optimator
optimator's picture

No education needed, the NWO plans on the U.S. being the argricultural part of their system.

Fri, 09/16/2011 - 16:32 | Link to Comment catacl1sm
catacl1sm's picture

That's going to be real hard to pull off once the Ogallala Aquifer dries up.

Fri, 09/16/2011 - 19:51 | Link to Comment wisefool
wisefool's picture

Good article out today:

http://arstechnica.com/science/news/2011/09/can-pumping-too-much-groundwater-raise-sea-level.ars

The total amount of groundwater lost between 1900 and 2008 was estimated at 4,500 km3—enough to raise global sea level by about 12.6 mm. That’s a little more than 6 percent of the total sea level rise seen in that time period.

It would be interesting if the global warming folks would include this in thier argument regarding sea levels.

Sat, 09/17/2011 - 00:30 | Link to Comment cynicalskeptic
cynicalskeptic's picture

Perry says 'Pray for rain'........    that's the kind of leadership - oblivious to science - that is dooming this country.   We're seeing major long term climate changes in the sourthern US already.  

If you thought the 1930's dustbowl was bad, just wait..... We've taken prime farmland in the NE and Miodwest and made it subdivisions and parking lots for big box stores - while depending on irrigated  DESERTS in places like California and North Dakota (a goo part of the US is defacto desert when it comes to rainfall).  Fly over the US and look down.  All those green dots are pivot irrigation.  Read 'Cadillac Desert' - written decades back - about water use and the US west.   scary then - scarier now. More people live farther away from the food they eat now - whihcis grown in fewere more concentrated areas - than ever before inhistory.  If you can't grow it or transport it... you're screwed.

The real irony is that all that subsidized wheat, corn, rice and soybeans sent overseas is costing the SU a fortune in oil used to run the machinerey that fgrowas the stuff, makes the fertilizer AND in WATER which is lost growing it.  The TOTAL COST is far higher than we realize when it comes to energy consumption, depleted soil, and WATER USED.  And all that 'cheap' exported food (using seeds from Monsanto that you have to buy every year) has destroyed local agriculture in much of the third world - farming that used crops naturally selected by centuries of lcocal climates to do well in that area, crops that fed people and kept others employed.   The food aid lets populations grow beyond what local agriculture can feed.  If that aid comes up short - people starve.

Fri, 09/16/2011 - 16:11 | Link to Comment runlevel
runlevel's picture

clueless.

Fri, 09/16/2011 - 17:28 | Link to Comment sgorem
sgorem's picture

 "or pick up the gun."  that's exactly what needs to be done with all of these mother fuckers, and that's what will be done in the end.

Fri, 09/16/2011 - 17:49 | Link to Comment LowProfile
LowProfile's picture

Yeah, throw all the weight on the old man shoulders.  He should do more!

What the fuck have YOU done for Liberty, you fucking whiny bitch!

GET OFF YOUR FAT ASS.

Sat, 09/17/2011 - 09:50 | Link to Comment g speed
g speed's picture

the ignorant masses, as such, are cannon fodder or hog food and are not relevant--  the ignorant masses  are excess and expendable -always have been-- 

Fri, 09/16/2011 - 15:19 | Link to Comment Dog Daze
Dog Daze's picture

A-FUCKING MEN

....BITCHEZZZ

Fri, 09/16/2011 - 15:23 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

@ iDeal

YES!

If Ron Paul really wants to get noticed, he will do exactly what you say.  Haul them all in before his committee.  Barbecue their butts.  Start pushing for an audit of the Fed.  Push for an audit of our Trasury's gold.

Lots of work to do, Ron Paul.  If you do it, you have a REAL SHOT of becoming our next president.

Fri, 09/16/2011 - 15:27 | Link to Comment SeverinSlade
SeverinSlade's picture

Uh...hasn't Paul already pushed for a full comprehensive audit of both the Federal Reserve and the gold that the US treasury supposedly holds?

Fri, 09/16/2011 - 15:36 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Push harder!

Fri, 09/16/2011 - 15:40 | Link to Comment NotApplicable
NotApplicable's picture

That might inflame his 'roids.

Just sayin'.

Fri, 09/16/2011 - 16:13 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Fortune favors those who dare.

Do NOT follow this link or you will be banned from the site!