Guest Post: Bread, Circuses, Spending Cuts, Unicorns And The Appearance Of Wealth

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Fri, 08/05/2011 - 16:04 | 1528087 caerus
caerus's picture

panem et circenses...bitchez!

Fri, 08/05/2011 - 16:35 | 1528177 Rodent Freikorps
Rodent Freikorps's picture

Tortillas y corridas de toros, putas.

Fri, 08/05/2011 - 20:23 | 1528639 pops
pops's picture

The "overness" was driven home last night when I witnessed a lady and her boy toy buy frozen pizzas, Fritos and Dr. Pepper with a foodstamp card, load it all into a new Cadillac and set sail.

Burn it down, beeyotches!  All of it.

Fri, 08/05/2011 - 21:03 | 1528843 IQ 101
IQ 101's picture

I was working across from the welfare office in Excramento, California once upon a time,

you want to see some fine cars! go their.

I of course was driving a 12 year old scuzbox as I only work for a living and am not a member of CLUB FREE SHIT, I can not join as i'm much too pale in color, and dont care much for the company,so it is cool with me.

Sat, 08/06/2011 - 12:49 | 1530753 Aragorn
Aragorn's picture

.

Fri, 08/05/2011 - 16:05 | 1528090 Doyle Hargraves
Doyle Hargraves's picture

The country is already zombified, Bitchez! Its all dead and like most zombies they just do not know it yet.

Fri, 08/05/2011 - 16:18 | 1528123 I Got Worms
I Got Worms's picture

"Crossing the Rubicon" can serve as an antidote to zombieness.

Fri, 08/05/2011 - 16:56 | 1528181 Doyle Hargraves
Doyle Hargraves's picture

Yeah if you can get the masses to cross and get their EBT cards and 52 inch LCD remotes to go away, EDIT: better yet persuade them that the gubmint dole is akin to living in a zoo cage rather than being free to do as one wishes. I am all for it, unfortunately there will be only one shot at it and with bread and circuses the dominate force, I don't see a willingness of the masses to leave their comfort zones and cross.

Fri, 08/05/2011 - 16:38 | 1528185 Rodent Freikorps
Rodent Freikorps's picture

iacta alea est

Fri, 08/05/2011 - 17:11 | 1528231 Doyle Hargraves
Doyle Hargraves's picture

Yes it has been cast and there is an 1861 moment fast approaching. The question is will Caesar win out, or will it be a slaughter?!

Fri, 08/05/2011 - 21:29 | 1528993 Mike in GA
Mike in GA's picture

Both. :(

Fri, 08/05/2011 - 23:19 | 1529402 Doyle Hargraves
Doyle Hargraves's picture

You are probably right if it is any consolation I soon will be amongst the other Georgians and will do my part whatever it is.

Fri, 08/05/2011 - 16:41 | 1528195 caerus
caerus's picture

mmmm...golden parabola...

Fri, 08/05/2011 - 16:08 | 1528100 Gubbmint Cheese
Gubbmint Cheese's picture

S&P closed green? SPY's were off $0.18...

wtf? my quotes are still runnin...

 

Fri, 08/05/2011 - 16:09 | 1528103 sellstop
sellstop's picture

"All of human unhappiness comes from one single thing. Not knowing how to remain at rest in a room."

Blaise Pascal

Our modern economy could cloth and feed many more than there is, if only they would not require to be entertained while they live out their lives.

C'est la vie,

gh

Sat, 08/06/2011 - 04:24 | 1529885 smore
smore's picture

"All of human unhappiness comes from one single thing. Not knowing how to remain at rest in a room."

One of my favorite quotes.  The internet circus is quickly making that acheivable and enjoyable for the masses.  Rejoice, universal happiness is at hand!

 

Fri, 08/05/2011 - 16:07 | 1528106 jjsilver
jjsilver's picture

All roads lead to the federal reserve and the crown!

Fri, 08/05/2011 - 16:39 | 1528187 RemiG2010
RemiG2010's picture

All roads lead to ... history doesn't repeat itself, but it does rhyme and it seems we're on a right path of repeating the same mistakes as in the first half of last century.

And I would be far from calling it fall of Roman Empire but Peak Civilization.

http://www.financialsense.com/contributors/ugo-bardi/peak-civilization

http://www.financialsense.com/financial-sense-newshour/big-picture/2011/...

Lastly, 'Crossing the Rubicon' by M. Ruppert a very good book. I read it few years ago. A must read.

 

 

Fri, 08/05/2011 - 17:12 | 1528278 escargot
escargot's picture

I read 'Crossing the Rubicon' just last week, coincidentally.  Ruppert is definitely not short on information.  Definitely some eye-opening stuff there.

Fri, 08/05/2011 - 16:41 | 1528196 Rodent Freikorps
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Omnes viae Romam ducunt

Fri, 08/05/2011 - 16:11 | 1528110 Internet Tough Guy
Internet Tough Guy's picture

The lights are growing dim Otto. I know a life of crime has led me to this sorry fate, and yet, I blame society. Society made me what I am.

Fri, 08/05/2011 - 16:44 | 1528208 Rodent Freikorps
Rodent Freikorps's picture

Otto: That's bullshit. You're a white suburban punk just like me.

 

Fri, 08/05/2011 - 17:26 | 1528317 Dadburnitpa
Dadburnitpa's picture

Repo man.  Love it.

Fri, 08/05/2011 - 19:28 | 1528502 Bicycle Repairman
Bicycle Repairman's picture

"Wherever you go, there you are."

Fri, 08/05/2011 - 16:12 | 1528111 Jeronimo
Jeronimo's picture

Although elegantly written and timely, it is what we know. What we don't know is how to turn it around or when will it end and be turned around.  

Where do we go from here; that is the question of the day and seemingly the answer continues to elude until some future day.

Thanks, none the less.

Fri, 08/05/2011 - 19:44 | 1528548 o2sd
o2sd's picture

Unfortunately, your country is already past the point of no return.

If you have fungible assets, liquidate them, and move to a country that you haven't bombed yet. It will be difficult to find one, but not impossible.

Wait it out.

 

Sat, 08/06/2011 - 09:39 | 1530151 NumNutt
NumNutt's picture

Hey there is an idea! Maybe I could get a mowhawk hair cut, and relocate to Austrailia. My wife could drive the suburban with the kids in the back while I jump onto unsuspecting big rigs to steal gas. MAD MAX Bitches!!!!!

Fri, 08/05/2011 - 16:13 | 1528113 Misean
Misean's picture

Meh...

 

Fri, 08/05/2011 - 16:14 | 1528114 I Got Worms
I Got Worms's picture

Bread and Circus = Food Stamps and Football

Fri, 08/05/2011 - 16:17 | 1528115 SwingForce
SwingForce's picture

Food Stamps won't buy alcohol, it will buy Pringles and Doritos. That's not the problem, as a stimulus program FOOD STAMPS get 100% SPENT, nothing is hoarded, it goes into the economy immediately without delay. QE3- Bottoms up!

Fri, 08/05/2011 - 20:39 | 1528710 BigJim
BigJim's picture

Ah, the old 'hoarding' canard.

Here, do yourself a favor and read this:

http://mises.org/money/2s9.asp

Sat, 08/06/2011 - 10:50 | 1530286 sun tzu
sun tzu's picture

Food stamps will buy alcohol and drugs for those who are willing. Many will trade their EBT dollars for 70 cents on the dollar or less in order to buy cigarettes, alcohol and drugs. Many small grocers have been busted for running these scams. Back when the states were passing out actualy food stamps, the cops used to find bundles in the drugs dens they raided.

Fri, 08/05/2011 - 16:16 | 1528116 High Plains Drifter
High Plains Drifter's picture

Tyler

those who are about to die salute you.......

Fri, 08/05/2011 - 16:48 | 1528224 Rodent Freikorps
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Batiatus: Come with us. See to it I don't misuse the money.
Gracchus: Don't be ridiculous. I'm a Senator.

 

Fri, 08/05/2011 - 16:14 | 1528117 High Plains Drifter
High Plains Drifter's picture

deleted

Fri, 08/05/2011 - 16:16 | 1528119 the not so migh...
the not so mighty maximiza's picture

no hot roman women orgies this time, this version sucks.

Fri, 08/05/2011 - 16:26 | 1528156 Flakmeister
Flakmeister's picture

You obviously missed out on Plato's Retreat.....

Fri, 08/05/2011 - 19:09 | 1528453 Vendetta
Vendetta's picture

what do you know of what goes on with the wall street banker crowd

Fri, 08/05/2011 - 16:19 | 1528127 Bobby Lee
Bobby Lee's picture

Sensationalist fearmongering. I am much happier worrying about the possibility of a collapse than I would be picking through the ruins of the certain collapse that faced us in 2008.

Fri, 08/05/2011 - 20:41 | 1528725 BigJim
BigJim's picture

Yes, because the actions our overlords took in 2008 are going to make the consequences of the resultant next collapse soooooooo much more mild.

Sat, 08/06/2011 - 10:53 | 1530288 sun tzu
sun tzu's picture

They fixed everything when they put all the toxic crap onto the public books and increased tripled the annual deficits. All is well. Drink your kool-aid and BTFD

Fri, 08/05/2011 - 16:30 | 1528133 SwingForce
SwingForce's picture

Jim- I like your posts, you are a very smart man. I don't disagree with you either. But everybody's not gonna die, the people of the United States won't even be hurt the worst. As the US Treasurys get downgraded, and the Federal Reserve debases the U$D, we have companies like ALTRIA!, Exxon, IBM, who pay more in dividend interest that US Tbonds. Once we get Apple & Google to see the light, the US becomes the Reserve STOCK currency. Get a fukkin' BUSINESSMAN in the White House and cut the shit, CONGRESS! (with a knife, in slices). Ha ha have a nice weekend!

Fri, 08/05/2011 - 16:57 | 1528239 Pay Day Today
Pay Day Today's picture

They're already all big money "business" people in gubbmint. That's the problem. And putting a Tyrant into the White House able to ignore Congress? That's a brand new world of hurt.

Sat, 08/06/2011 - 10:57 | 1530300 sun tzu
sun tzu's picture

The government is run by lawyers. I've worked there before. The departments and agencies are all headed by lawyers. You get a token Wall Street banker once in a while, but all of the top regulators are lawyers, including 0bama and Holder. Don't confuse businessman with Wall Street bankers. A businessman provides a useful service or product to the market. Wall Street bankers are parasites.Bring back Glass-Steagall and put a few hundred big bankers into prison

Fri, 08/05/2011 - 19:21 | 1528480 Vendetta
Vendetta's picture

I have known countless "businessmen" in middle AND executive management throughout my career who were totally worthless and actually cost large companies millions upon millions because of their stupidity and arrogance.  I thought some people might have figured that out after GW, ... guess not.   Commonsense, integrity, ethics, honesty and the will for a just and productive society is worth much more than mere business experience.

Sat, 08/06/2011 - 10:59 | 1530308 sun tzu
sun tzu's picture

In 0bama's case, he has neither

Fri, 08/05/2011 - 23:14 | 1529381 piceridu
piceridu's picture

I've know a lot of business and most have not been worth a damn. Remember, Jamie Dimon is a businessman, we need an entrepeneur that understands the sacrifice, honor and respect it takes to build a successful business.

Sat, 08/06/2011 - 10:04 | 1530215 ATM
ATM's picture

The "reserve stock currency'?? WTF dude? I suppose that reserve stock currency you will be betting on and the above tbond dividend will be paid in the same debased US$ you mention earlier.

How the hell does that make sense? Did Zimbabwe stocks become the reserve stocks of the world because their price increases were the tops in the world for a decade? Did their dividends outpace anything?

Sorry Swing but the debasement will always outrun the increase in prices of those stocks and value of dividends. It has to be otherwise we would not be in the current shitty position we are in leveraged beyond all resonable measures.

We are fucked and anything priced in dollars will be fucked as well. Learn that leasons before you wake up broke, hungry, and with nothing left. 

Fri, 08/05/2011 - 16:21 | 1528135 Caviar Emptor
Caviar Emptor's picture

Just wait till you read about the new "tax Reform" package that's going to get passed. 

Pays for tax cuts to upper income by eliminating the mortgage interest deduction. And medical expense deduction and charitable contributions. 

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