Guest Post: It’s Time To Be Very Concerned About What’s Going On Behind The Scenes

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Mon, 08/08/2011 - 13:52 | 1538244 SilverRhino
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All governments can do is print, borrow, or steal from taxpayers.

Says it all right there.

Mon, 08/08/2011 - 14:33 | 1538368 brew
brew's picture

qe3 will officially announce the jig is up...

Mon, 08/08/2011 - 14:36 | 1538376 TomJoad
TomJoad's picture

print = steal from taxpayers

borrow = steal from taxpayers

steal from taxpayers = steal from taxpayers


One trick pony.

Mon, 08/08/2011 - 15:01 | 1538473 par4
par4's picture

Try printing your own.

Mon, 08/08/2011 - 19:01 | 1539844 Pay Day Today
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Community currencies.

Mon, 08/08/2011 - 20:46 | 1540183 zorba THE GREEK
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Odysseus was king of Ithaca. He was hero in The Odyssey.

Achaeans fought in Trojan War against City of Troy.

That story is called The Iliad. Two different stories.

The Iliad gave us the expression: The face that launched a 1000 ships.

Zorba is very old. He hung out with Homer who wrote both stories.

He used to call him ' Homey'

Mon, 08/08/2011 - 21:30 | 1540316 Michael
Michael's picture

I want to personally thank the Democrats who are hell bent on maximizing economic devastation that will befall the United States of America.

It has been statistically proven with mathematical certainty there will be a complete and total economic collapse of the USA given our current economic situation.

Thank you Democrats for wanting to maximize the economic devastation and kicking the can down the road for my viewing pleasure.

I also want to thank the Republicans for doing the same, paying for silly wars chasing the bogyman all over the planet and spending trillions of dollars on it.

Thank you both very very much for the Schadenfreude you are giving me out of the kindness of your hearts. 

Mon, 08/08/2011 - 15:27 | 1538612 NumNutt
NumNutt's picture

At what point do we wait to declare our day of rage like Egypt, and demand that this administration be thrown out of office. I cannot believe that Obama is trying to continue with the same plan that has gotten us to this point. Thanks to ZH my money is safe, but I have a feeling things are only going from bad to worse from here.

Mon, 08/08/2011 - 15:57 | 1538842 rwe2late
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All governments can do is print, borrow, or steal from taxpayers.

NOT QUITE TRUE.  That may be all the present governments will do,


A decent, presumably democratic government could refuse to hand over public funds to the TBTFs, could take control of its currency back from the central bank, could downsize its needless miltary spending, could invest in rehabilitating a crumbling infrastructure, could end its wasteful attempt at neo-Prohibition (on drugs), could change its wasteful health care system, ... there's more, but the point is a proper government could do a lot better.

Mon, 08/08/2011 - 16:28 | 1539144 Dick Fitz
Dick Fitz's picture

Government is not able to do any of the things you mention, because they are fundamentally corrupt and under the influence of powerful special interest groups. All of the functions provided by DC need to be devolved back to the state/local level. DC is a cancer that is killing us, and poisoning the world.

Mon, 08/08/2011 - 16:47 | 1539281 Withdrawn Sanction
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All of the functions provided by DC need to be devolved back to the state/local level.

There are very few things any government does well; ergo, there are very few things government should do.

Devolving power without curtailing it serves only to multiply the number of despots.  There needs to be a serious reduction in the scope of force applied to human affairs (i.e., in the scope of government at all levels).

Mon, 08/08/2011 - 19:05 | 1539859 Pay Day Today
Pay Day Today's picture

Society needs to be organised. It might be at an anarchistic local level, at a state gov level or at a Federal level. Nevertheless, people get quite annoyed when roads and traffic lights, basic utilities, schools and social security payments stop working.

Tue, 08/09/2011 - 08:33 | 1541970 rwe2late
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Dick Fitz,

 Downsized government(s) will be even less able to resist the special interests and corruption from global corporations, war merchants, environmental despoilers, and criminal syndicates.  Perhaps you should consider that it is mega corporations and an influential wealthy elite that needs to be curtailed, at least as much as government, if not much more so.

Mon, 08/08/2011 - 13:52 | 1538245 mynhair
mynhair's picture

Hope the flash crash doesn't happen behind the scenes.

Mon, 08/08/2011 - 13:53 | 1538253's picture

Oh my swineherd!

Mon, 08/08/2011 - 13:54 | 1538270 Cognitive Dissonance
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If not, it’s time to let go of the excuses and take action.

Not enough pain yet to compel action my friend. But getter closer.

Mon, 08/08/2011 - 14:11 | 1538363 WALLST8MY8BALL
WALLST8MY8BALL's picture

We are on fire and they are drinking champaigne!

Mon, 08/08/2011 - 18:44 | 1539770 Advoc8tr
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By the time the pain is felt the injury is already done .... They will arc up when the financial institution handling their nest egg declares bankruptcy out of the blue or when they get their annual statement next year .... by which time it will of course be too late.

Can't help those who won't help themselves .... and should we anyway?  It is akin to permanent welfare which is bad for everybody involved.

If life has a purpose I believe it is to learn, grow, evolve.  Treating people as children for the entirety of their lives is counter-productive to their long term development.

Mon, 08/08/2011 - 13:55 | 1538272 kito
kito's picture


Mon, 08/08/2011 - 14:43 | 1538417 Spitzer
Spitzer's picture

Have you ever left the US ?

There is many places around the world that are utopia compared to N Ameirca. Everything is dirt cheap, the people are laid back, the government cant afford to fuck you. You can bribe cops out of traffic offences. Hot babes are a dime a dozen.

Check it out some time....

Mon, 08/08/2011 - 15:10 | 1538517 pazmaker
pazmaker's picture

Governments exist in all countries my friend....

Mon, 08/08/2011 - 15:29 | 1538638 InconvenientCou...
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Santiago is lovely. It's definitely in my top 10.

Mon, 08/08/2011 - 13:58 | 1538299 LawsofPhysics
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Cashed out last Monday, yeah I missed the top.  However, until accoutability is brought back, cash is king and that king is walking down a yellow brick road.  Soon they will be one and the same again - HOORAY!

Mon, 08/08/2011 - 14:00 | 1538336 PaperBugsBurn
PaperBugsBurn's picture

SDR bitchez!



Mon, 08/08/2011 - 14:09 | 1538360 slewie the pi-rat
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single nation no good

many nations heap better

trust-um me

Mon, 08/08/2011 - 14:33 | 1538369 Deepskyy
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Race to the bottom bitchez.  I got beer in the fridge with one in the freezer watching the carnage.

Official Bear by Friday?


Mon, 08/08/2011 - 14:34 | 1538370 OnTheWaterfront
OnTheWaterfront's picture

Were doomed!!!

Mon, 08/08/2011 - 14:34 | 1538371 Doyle Hargraves
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Dow Solidly below 11,000-check

S&P 500 below 1130 and falling quickly-check

BAC about to give up the ghost $6.70 and falling-check

Tradition at $1721+-check

Smells like VICTORY!

Mon, 08/08/2011 - 14:35 | 1538372 HungrySeagull
HungrySeagull's picture

Well, the Gravity of the situation has taken hold finally.

They can only hold the markets from taking nature's course for so long. It's like a river wide it will find a way through.


Silver is being dumped for Gold with pricing already into the 2500's ASK

Mon, 08/08/2011 - 16:06 | 1538916 DosZap
DosZap's picture

HungrySeagull, @14:35


Silver is being dumped for Gold with pricing already into the 2500's ASK


Where ,pray tell is Gold at $2,500.00 ASK?.

Pls advise...................cause your paying way too much...........LOL

Mon, 08/08/2011 - 14:35 | 1538373 Eagle Keeper
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G7 finance ministers have pledged to take any steps necessary to calm markets and “avert collapse in world confidence.”


Confidence must be earned, not bought or demanded. And once lost is even harder to restore. 

The only way to lead is by example. Governments don't understand this.....

Mon, 08/08/2011 - 14:35 | 1538374 newstreet
newstreet's picture

Carthago delenda est.

Mon, 08/08/2011 - 15:48 | 1538758 Ignatius J Reilly
Ignatius J Reilly's picture

I love this site.  rock and a hard place.  Salt the earth.


Man, I wish I could drink a beer with you people.  You're my kinda people.

Mon, 08/08/2011 - 15:58 | 1538851 Ignatius J Reilly
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Oh, and just for clarity.  I truly mean that.  

Mon, 08/08/2011 - 17:08 | 1539419 BigJim
BigJim's picture

I agree. I think Tyler(s) should buy a medium-sized greek island and set up a ZH resort/commune/base. I'd visit!

Mon, 08/08/2011 - 17:15 | 1539440 mick_richfield
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I keep wear my ZH hat, hoping to someday see someone else wearing the Sign of the Theta.  Hasn't happened yet.

Mon, 08/08/2011 - 14:35 | 1538375 VyseLegendaire
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What else is new.  

Mon, 08/08/2011 - 14:37 | 1538378 Chip
Chip's picture

Big money and the Pirates are running this show today.

Mon, 08/08/2011 - 14:37 | 1538385 JW n FL
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1) America’s credit rating was punished by S&P because US politicians failed to reach an adequate solution to the country’s massive debt woes which are nearing 100% of GDP. Investors reacted by buying the Japanese yen– a country whose sovereign debt rating is two steps below the US, and at 220% of GDP, over twice as indebted!




S & P down graded the U.S. becuase they got raided in Italy and for no other reason than to protect themselves offshore from litigation!


now becuase of this unforseen event have the markets been shaken to the point of breaking..

do you see Bernake cutting down the trees in your back yard? so that he can print money??

then there is your answer!

I dont like it! but it dont make it any less true.

a 25% drop is what is needed for QE-3.. are people jumping the gun or did the S & P bullshit enhance the effects.. maybe but once again.. is Bernake out back with an axe cutting down the trees in your yard to print money?

well then, there you go!

Mon, 08/08/2011 - 14:41 | 1538392 baby_BLYTHE
baby_BLYTHE's picture

When is Benocide going to wake up and realize ZIRP has been a total failure? Prudent savers have been stolen from to the tune of trillions of dollars since the policy's implementation. Negative real-interest rates over a long period of time discourage capital formation and change the overall economic behavior of individuals.

People might say that it benefits those in debted with mortgage payments and such, but with ZIRP + QE prices for everything increase which destroys the purchasing power of the poorest of the poor (Who have seen declining wages for years and years).

ZIRP was supposed to benefit the big banks, but as we see now they are all collapsing again. Another FAIL for the Money Printer!

Seriously. Bernanke needs to be disposed, as Marc Faber said one day might be the case

Mon, 08/08/2011 - 14:47 | 1538418 Dr. Engali
Dr. Engali's picture

They have a simple solution to that....make the banks bigger/sarc. It's all about transfering as much wealth from the middle class as possible. When they do qe3 that will be it. Those closest to the money will get the benefit, everybody else will find misery.

Mon, 08/08/2011 - 14:40 | 1538402 falak pema
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My favorite story of ancient times : Charybdis and Scylla. In today's world Charybdis is the whirlpool of government deficit spending and Scylla is the hard rock of Oligarchic greedy hubristic ponzi play. We are there today. 

So pick your sides unless you be Ulysses and know how to  sail the narrow passage. The shills of WS don't and they'll pay the price. 

Mon, 08/08/2011 - 14:41 | 1538406 NickyG
NickyG's picture

Wow that's new! Last week I read that Putin said that the US was a leech sucking of

Mon, 08/08/2011 - 14:43 | 1538416 High Plains Drifter
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greek mythology? when it doubt ask the experts.........

cream 1968 tales of brave ulysses

Mon, 08/08/2011 - 15:07 | 1538501 American Dreams
American Dreams's picture

Many thanks HPD!  Classic rock lives here fo sho.

know your enemy


Mon, 08/08/2011 - 20:30 | 1540130 zorba THE GREEK
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HPD-I am so glad you are expert...

You would think Zorba would know about Greek mythology, but alas Zorba

didn't even know Greeks fought war over condoms ( Trojan War )

But FYI; Odysseos (mis-spelled) was in story called the odessy (also mis-spelled)

story of Trojan war called the Illiad. Battle for city of Troy.

Two completely different stories.

Mon, 08/08/2011 - 14:45 | 1538422 High Plains Drifter
High Plains Drifter's picture

bythe keeps hammering on silver to try and mess with gold.........same old game, same old way. they are running out of rope........

Mon, 08/08/2011 - 14:49 | 1538435 Fix It Again Timmy
Fix It Again Timmy's picture

Well, when your nation is being run by 533 part-time moronic amateurs who take their marching orders along with a fat check from multi-million dollar lobbying organizations, this is what you get and it ain't pretty...

Mon, 08/08/2011 - 14:50 | 1538436 Downtoolong
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America’s credit rating was punished by S&P …. Investors reacted by buying the Japanese yen.

It’s crazier than this; they’re buying more U.S. Treasuries with both hands today.

Mon, 08/08/2011 - 14:52 | 1538443 Peter K
Peter K's picture

The US got downgraded because we have a redistributionist Marxist, masquarading as a Keynsian wrapped in free market linquistics. He and his DemoCommiNazis doubled the national debt after they took over congress in 2006, and having run up agianst the debt ceiling, they waited til the last minute in order to create a crisis (remember, not letting one go to waiste) in order to roll the Republicans and the Tea Party in order crush their credibility with the American public. And having failed to raise taxes on the billionaires and trillionaires, which wouldn't make a drop in the ocean's differnce the way the OBAMACOMMINAZI's are spending, they got the OBAMADowngraded. And like the little petulant, narcissistic pre-adolescents that OBAMA and Co. are, all that is left to do is whine and cry.

But really folks, what is the real problem?

Treasury takes in 180b per month

Debt service is 35b per month.

The OBAMACOMMIENAZI's spend 300b per month.

So the real issue is: The Bamster has a spending problem. It just that simple. And all the bullshit in the world ain't gonna change that one bit.

Just to be clear, I say again:The uncontrolled spending is the ROOT OF THE PROBLEM. And that's the fact JACK.

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