Inevitable Spiral Equity Collapse, Biderman's 'Better Early Than Late' Call To Sell Into Strength
It's the end of deficit spending in Europe as we know it. That's how Charles Biderman, of TrimTabs, rightly describes the unwilling-to-compromise German's (perhaps heroic) attitude to their fellow European sovereigns. From his perspective, this forced austerity will mean slower growth and with that all chance that the European nations can 'grow/tax' their way out of this charade. He notes there is simply no way they can grow fast enough to be able to kick the can far enough down the road for it to matter. Pointing to his 'better early than late' calls on markets over the last 40 years, the man from Sausalito sees it as inevitable that the practical insistence on the elimination of deficit spending will force banks into bankruptcy, leading, as asset values are marked down, to a spiral collapse in equities. He then dismisses the simple-minded decoupling perspective as if no new Keynesian-inspired 'technology shift' occurs, US growth will be in the doldrums as European deleveraging drags global growth down with it. It's not all doom-and-gloom though as he ends on the upbeat notion that this collapse won't happen tomorrow, given balance sheet strength, although selling into rallies is the clear picture he is painting.
(h/t @ZH_Crown)
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Bravo!
He didn't say anything we haven't heard 100 times before.
He didn't say anything we weren't discussing a year and a half ago. Between then and now the deficits in most countries have jumped 50-100%, the US has hit it's "debt ceiling" twice already, with the third this year coming on the 16th of December.
All we are seeing from this lad is the tiniest amount of contrition of the remote possibility that the concept of market backed capitalism is dead. To a CEO of a third tier services market that pushes weight loss pills on hour long infomercials, my skepticism remains firmly in place. Not because of the nature of Trim Tabs as a business, but to this man and many other business people over the age of 60, it is a completely taboo subject.
Their lives have always been Bullish, the concept of them being wrong as a herd just cannot be. To this group, it's completely impossible that everything that they worked for will be destroyed because of central banks colluding and undermining their businesses with inflation, taxation and theft.
Reverting to communism and barter is soooo appealing. Let’s murder another 200 million while we are at it. That purchasing power parity of $9 grand per year s so appealing. Let’s all become communist and start murdering each other for a few decades. WTF make the PPP $300 per year. Who needs a house anyway?
Yea right.
What you fail to see is that capitalism works perfectly, if you let the bad guys go out of business. When it collapses it will not be the end of capitalism but the rebirth of capitalism stronger than before. Getting rid of corruption and misallocated resources is what capitalism is all about. I will rejoice when it fails because that means all the bad guys will be getting their justice.
Communist thugs look at it as a opportunity for power. I look at it as a opportunity to cleanse the air of all the thugs and bad guys. If you have tattoos you might want to remove them before TSHTF. Just saying.
I live in the sticks, own a farm and run engineering projects. I've never even had a piercing. My hair cuts run military style, over #3 and that's hippy hair.
Communism...barter...whatever. You understand that money, fiat money is a relatively new idea. Every attempt of it has failed. Not one or two times, everytime. And by everytime, I mean everytime through out all human history. Voltarie famous for his quote: "Paper money eventually returns to its intrinsic value - zero." (Voltaire, 1694-1778).
Not making this up either, history has excellent examples of situations that were WAY better funded and under leveraged that collapsed overnight. When people discuss the great depression of the US, they point to it as the model. It's not. All that we are watching is a herd of humans deeply in denial over their options. They simply have to options left, so they pray, lie to one another, tap dance around the problem while it gets bigger and bigger.
Right now, we are talking leveraged markets in the 50x range. Consumer debt to equity ratios that are 1:1. Roughly 18% underemployment, 9% unemployment, 8% on welfare. Things are not in great shape. There are only two ways way to repair the current system.
Interest rates must go to 37.4% for home loans and 67% for regular small/business loans to properly allow the credit collapse to happen, while not graceful, it will cease all ridiculious over leveraged positions. Since that isn't going to happen, the darker path of Keynesian logic will be chosen. Print, print, print. Inflation is a bitch as well in this situation.
To attempt to moderate the spending cycles of credit the Kenysian MUST, not choses to, jack up interest rates. Here's the problem at hand. Nobody is. The central bank interest rates go past 1% and all hell breaks loose on corporate and consumer debt. So what is going to happen?
Does that make people MORE or LESS causious with their capital?
Does gold and silver become the defacto standard for trade? (probably not, I'm seeing oil take this role. The FX currency trade versus the PM bloc, it's pretty easy to see who is winning. Over a single three year span against S&P performance, they are up 150%
Market Capitalism with fractional reserve banking is literally asking for a poorly designed economic solution that self destructs, EVERYTIME. When this all collapses, not if, when. Capitalism will still be around. Only the assholes that ran it to it's conclusion will be flat broke and busted. The rest of us however I think will do just fine until they reboot the system and the "new" currencies are established.
What those are, you and I have no clue as to the what they are? I would hazard a guess someone has a couple of ideas though.
I think we both understand the problem perfectly and agree on the collapse. We differ in our interpretation of capitalism.
To me capitalism is not a central bank and federal government sponsored cartels. We have gone away from capitalism starting with Teddy Roosevelt and the Federal Reserve. Social Security, Medicaid, Medicare, Department of Education, social justice, affirmative action, and so forth. All these government interference in the free capitalist marketplace is the cause of the blow up, not capitalism.
If we had capitalism, limited federal government, none of this blow up would be happening. The problems are the parasites in the federal government and the central banks. When it implodes these institutions will be wiped out as we know them today. It would not be that preposterous to see the United States break up into several countries.
What has dawned on the Greeks is what is slowly dawning on the rest of the Western world. We are going down. The only question is whether we force the bankers to go down with us or let them become our oligarchs. We can either go through the dark time and re-emerge a free people, or we can allow the bankers to turn us into tightly fenced milking cows that do nothing but eat, shit, and pay interest, perpetually. I'll take option A, gladly. But it's not easy to get people to wake up enough to make that choice.
from 500bc (oh excuse me, we can't say bc anymore because it irritates certain parties) , oh i mean 500 bce till now, the greeks have come a long way..........
RE: "the unwilling-to-compromise German's (perhaps heroic) attitude to their fellow European sovereigns"
NOTA BENE: The only EU sovereign "unwilling" to fiscal restraint is: UK.
UK - the appendix to US - hence my term the USUKs - is "unwilling" precisely because it has a 1000% debt to GDP ratio and London is home to the world's biggest scumbag bankster hedegefunds and oligarchs, which and whom EU wants to regulate and restrict.
Let it be clear and known then - that it is the ANGLO-JEWISH METHOD - also false known as the Anglo-Saxon ditto - and its USUK bankster-mafia which:
A) rigged the world with garbage paper - and
B) is "unwilling" to enforce regimes of fiscal restraint - as in US Fed monetizing and bailouts
Continental EU will win - USUKs will fail.
oil is not going to unpeak no matter what we do with this stupid credit system.
You people need to wrap your heads around that. The credit effects are a SYMPTOM, not a cause.
Very very well said all around CPL.
ORI
ok cpl.
what if they said enough. and allowed it to colllapse. what scenerio do you see in such a situation? another words, which would be worse? the deflationary collapse or weimar?
That's the central problem of Keynesian design. It has outlets to work off the steam and pressure in the system, it's interest rates.
A general consensus of the situation regarding interest rates hasn't even been approached. You know how the fractional reserve with central banking dealt with these issues before Clinton. They jacked up interest rates. Depending on what age we all are, if sentient during the 80's and 90's, it wasn't unheard of to obtain a bank loan for 45% with GREAT credit. For home loans they ran from 12-23% depending on the week literally. People saved hard for a large down payment on a home. It was better business to save money than borrow.
Deflation to a guy like me, is a good thing. I save my money. However we are given the option in a deflationary cycle to really put the screws to anyone that owes money. The forces people, businesses and governments to smarten up and consider purchases. I can accept that interest rates would be in the 1-5% range on savings, but my pile of money will be worth something at the end of the day
Inflation, to a guy like me, is a bad thing as I save my money. So to capitalize in that situation, it is in my best interests to pull every ounce of credit tied to me and max it out. We can see what happens with that. Credit dries up, locks down and freezes everything from credit card companies to LIBOR. Right now it's the reason all the US, Asian and Euro banks are constantly re-capitalizing. It's literally 'free' money. That situation puts me in jeopardy because I've over extended myself with leverage I really didn't need to use in the first place. Like people that use their margin for long trades, all that needs to happen is margin call.
What we are all looking at here is a broken system run to it's logical conclusion. If the TPTB want to use fractional reserve lending with Fiat under Keynesian practices then they have to use the tools available to manage it. The longer they wait, the higher the interest rates have to be. When the model hits 1:1, as in the only way to salvage the scraps from the system is to move interest rates to 100%, that's when the engine stops working.
Every time they print it pushes up the ratio, every extra dollar of liquidity in the system leveraged which needs more money to re leverage the carry trade. Rinse and repeat. Over and over and over again. We all know that this has been the process for the last 30 years, it's in the last 3.5 years that it has become awful, yet we aren't using the tools as prescribed by the originator of the Keynesian theory and design.
If I build a car without brakes how many do you think I could sell?
To be honest, it doesn't matter. What I can promise you though I will not have any repeat customers unless the customer has a four leaf clover shoved up their ass and blessed by the almighty.
This is the situation we are in. No brakes in the financial system and everyone riding in that system is starting to notice the car is a out of control.
the question is not, "what will be the most important good?", that is obviously oil, the question is,"which good will trade for oil?"
PM
again, no amount of credit bullshit is going to resurrect Cantarell or any other oil field that is in terminal decline.
Just get over it, get over your stupid savings and your stupid expectations of money "making money" by the pure magic of growth. Get over your idiotic capitalism vs socialism false dilemmas. NONE of it matters.
Nature is at the plate now. The count is 3-1.
Trav, you might be an asshole, but you don't sugar coat. I would have to completely agree, even as much as it pisses me off.
The Question is HOW to make sure that the wealthy don't capture the government.
And frankly to thnk the wealthy and powerful Won't try and capture the guv is naive.
So is thinking you an Cut the guv down to nothng and Still have a free market. Nature abors a vacuum.
The Wealthy will ALWAYS attempt to use their $ to control and capture a economy and guv.
The true question is how to have a guv that will protect We The People over the monopolistic tendencies of the ultra-wealthy.
well what did john adams say? without Christianity involved in its highest levels , this sort of government will not work..........
"Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other."
http://www.free2pray.info/5founderquotes.html
it is the only way to make such a democratic republic work. if a man does not fear God, then why should he fear any of us? this type of system requires constant vigilence by its citizens. this part and parcel is called citizenship. for many, the "freedoms" we have enjoyed have been mistaken to be excuses to live their own lives within their own little bubbles . the masonic idea of life liberty and the pursuit of happiness is nonsense....
Thats why people have to keep the pressure up on the current ganrenous tax code -- not just sound money. The tax code serves the rich/corporation and domesticates the poor, a bastardization of christian teachings.
Romney is able to throw around $10,000 bets because he pays 11% effective taxation. The typical citizen may have every domestic need met, with a tax credit for this, deduction for that, but the system makes sure they average $10,000 in net worth heading into retirement.
well said CPL
it is hard for the soft underbelly of those who had little creativity and no innovation and made literally a killing stealing and selling snake oil to the barely conscious masses. Most of these boys are on their knees wondering what happened.
Its OK there is plenty of room in the pasture.
Germany will not do a reply of the early 20th century again as I have said before. Germans are not willing to be reamed and the rich know there is a fine line in Deutschland between distaste and murder look into the radicals of the late 70's in the Bundesrepublik.... That psycho just got paroled (-D
I am Marla's total indifference.
games have to end
Letting the bad guys go bankrupt would include the central banks, bloated governments, and the elites on Wall Street. Capitalism is what you want. It is a wonderful disinfectant.
germany won't do it again because they have totally been brainwashed and feminized......from the germanic tribes that faced off against the roman legions and held them to a stand still to the pussies that are living there now.......its a long way they have come. when you consider the history of the germanic peoples all the way back to roman times, one can surmise a tremendous prejudice by the world against them, it seems.....strange , no? for example. what a problem it must have been for the mixed race romans to look toward the rhine and see all of those white, blue eyed, blond haired and free men running around without a owner........from the day they were discovered by the romans, even perhaps before during ancient times as these tribes spread out across this area, coming from the mesopotamia and the levante, i suggest , it has always been a problem for some. this problem continues to this very day.
DATS RAYCISS
So you took a great deal of (American) history at school that is very nice for you. Are you still paying for your higher education? I am not.
You forget that the Teutonic peoples (from the far north and more related to the Scandinavian tribes) were only one group and those who held off the Romans were the Goths, Swabian, Alleman, and Germanian tribes (all of whom are not as blond) many of which were the Vanals who sacked Rome and did not pillage or harm the people.
A little side note to your mesopotamia reference Farsi (Persian) and German have a startling number of words that are pronounced the same and have the same meaning.
Further Europeans are mixed every place you go unless you get up near the Arctic circle where no body wants to hang out all on a daily basis unless they are allergic to warm weather.
and I like Clint Eastwood
THe one thing is: Absent major technology productivity. This is the only caveat in Gold case. It is a not very likely but it is a logical one. You can not grow by exports, you can not continue to kick the can. The only way our is massive productivity gains, hence technology. Watch material sciences, there are a lot of new applications coming from there, but It will still be too late in my opinion.
Nein. Since the Luftwaffe, the Kriegsmarine, and the Waffen-SS are no more, nothing can be enforced. There will be no "austerity". They are printing now, will continue to do so, and the collapse will come via hyperinflation...and/or Iran War black swan.
What the hell are you talking about?
-John
http://www.youtube.com/carmarketer
I really don't like being considered collateral of the federal government.
After the collapse, could we please have abolished, The Act of 1871?
I know it's just a legalese determination of who I really am, but I'd like to, for what few decades are left of my life, live knowing I am owned by no one.
Micheal, being owned or otherwise is a matter of the mind, if no-one owns you, or rather "thinks' they do, how does it matter? Born free mate...
ORI
/the-plan/
Then you must ditch the GF, your dog (dogs own their "owners"), your cellphone, your facebook, your kakhis, your ....
If I want to get out of my vehichle I will just roll down the window.
Unfortunately, inevitably, those who were chasing stock prices up to these levels (and maybe higher) are the least likely to think time to sell is anytime soon. Cognitive biases also play against momentum buyers.
As a marginally "conscientious" investor, I refuse to participate in an auction where prices are being bid up and down completely independently of the value of the underlying asset even if I'm certain I can make a buck or two "flipping" the asset in the process. I looked up in the game theory terminology, but couldn't find a term for an auction where participants do not know the object of the auction.
Fuck market liquidity-rationalizers.
I looked up in the game theory terminology, but couldn't find a term for an auction where participants do not know the object of the auction.
Try looking up 'ponzi' or 'pyramid scheme'. :D
On a more serious note, the equity markets are tangential to the actual game going on. Game theory is applicable in terms of the currency wars / default chicken being played. The two-actor game between the ECB and the Fed is remarkable because neither can afford the other's currency to implode. So you get Timmay taking the red-eye over to Sarkozy's pub twice a week essentially to protect the USD debasement, which is necessary to prevent a 25% pullback in US Stocks and a crushing blow to GDP from a ballooning trade deficit. Euro has the same problem, but they're on the other end of the teeter-totter and cannot afford the bag-holding banks (and, oh yeah, China) to face-plant on the toxic debt they show on their balance sheets. The whole thing is built on quicksand and the sock puppets are engaged in a staring contest (well, Sark-puppet is prolly sipping a $1000 bordeaux).
OK, I'm off my soapbox...
Or Jon Corzine could just steal your money from your trading account? Blatent THEFT by the house has now entered the casino, you get up to take a piss and the dealer rakes your chips. Fuck that.
GM Bondholders should have been the wake up call for everyone to leave the table, but now they will just take your money like a thief in the night. Poof it's gone......
http://www.youtube.com/watch?v=RAKsMnAM8vk
I want to know how South Park is frontrunning this shit.
Art Trumps All
The one thing the Illuminatti will never have is a muse on their shoulder. look at how fast Jack London ran away from Bohemia!
They can create Brittney like a bowl full of jelllo, but they can't create Jimi! They can't create Lennon, or Dylan, or Willie!
The greatest question about science fiction is how does science fiction create possible science concepts?
We are the music makers, we are the dreamers of the dreams
and sometimes art is all we have left.
Then they designate it as "entartete Kunst" and arrest you as a "dissident intellectual."
See no evil, comrade. Stick to safe elephant and donkey graphics in red white 'n blue.
Two parties, one bright future! ;-)
I have the impression that they are more interested in wearing powdered wigs and commandeering the future Mozarts for their "enrichessment culturelle".
"our society is run by insane people for insane objectives. I think we're being run by maniacs for manical ends and i think I'm liable to be put away for expressing it. That's what's insane about it". John Lennon.
Well we know now he was shot under pretenses that a crazy man from Hawaii thought he was Holden Cauldfield from the Catcher in the Rye. Peter Tosh who was calling bullshit on this whole system was also shot.
"To have the truth in your possession you can be found guilty, sentenced to death". Tosh.
mr marley too.
delusional...it doesn't.
That's the thing you downing effected people don't get. The scientists are MORE creative than you are. They come up with shit you can't even grasp nor comprehend and your stupid little "imagination" or whatever you think you're good as as a conceit to cover for your inadequacy in math isn't the indispensible portion of the creative process.
Jimi Hendrix isn't a pile of shit in the overall scheme of things, nor are all the self-important artists in the history of the world. People like Orville and Wilbur Wright piss on them.
Art trumps nothing...go paint me a fucking oil well.
Found something good and just wanted to share it.
NO I'm not one of these obnoxious pest that post links to my own blog. This is legit and I opine worth checking out.
http://thedailybell.com/3337/Staff-Report-Thomas-Woods-Jr-on-Libertarianism-Versus-the-Catholic-Church-Ron-Pauls-Presidential-Chances-and-US-State-Secession
If nothing else at least some thoughts to ponder till the Tylers wake up?
He-he.
Found something good and just wanted to share it.
NO I'm not one of these obnoxious pest that post links to my own blog. This is legit and I opine worth checking out.
http://thedailybell.com/3337/Staff-Report-Thomas-Woods-Jr-on-Libertarianism-Versus-the-Catholic-Church-Ron-Pauls-Presidential-Chances-and-US-State-Secession
If nothing else at least some thoughts to ponder till the Tylers wake up?
He-he.
The Euro now stands for...........
European Union of Remorseful Overspenders
Amen brother.
UK government debt was approximately £350bn in 1997, was approximately £850bn in 2010 and is projected to hit £1500 bn around April 2016 and that's *with*
austerity.
So in real terms, is that an increase or decrease?
heh
But money is backed by government debt, so that means you are richer...? I don't understand the whole gov't debt - austerity - currency debate. In this system the only people that have money first got it from the Fed/Euro/BoE because the central banks are the only ones that create money, and they only made the money to buy gov't debt.
Allow me to help eliminate your confusion. Austerity abruptly imposed in a debt-based monetary system is akin to removing heroin from a pipette addict on his last legs.
Obviously severe austerity in such a system is suicidal. Therefore severe austerity will not happen - at least not in the degree necessary to balance the books. Austerity enough for political purposes, yes. But not make-a-difference austerity.
Bottomline to what comes next: a particular and diverse group of people is about to get screwed out of pretty much everything they've worked for in lieu of austerity. I think you can deduce what group that is by now.
the herion junkies
"Sire, the masses have no bread!"
"Then let them shoot junk. They'll never notice! And it'll drive economic recovery in Afghanistan!"
Well said
Half of th EZ thinks it's only like giving up smoking - and that the heroine addicts are the "over 7% budgeters"
Funnily, balancing budgets will be easier for the Italians and others than for the Germans. We will see...
Hansel that is correct.
Print the money .
Buy the gov debt (freddie and fannie)
Now the fed is the EVIL national overload and landlord to boot.
Print the money.
Repeat.
I'm not so sure they are remorseful.
Scared that they are near the end of the road as they know it is more likely.
The big players are probably singing "it's the end of the road as we know it and I feel fine."
The big players are probably singing "it's the end of the road as we know it and I feel fine."
http://www.youtube.com/watch?v=Z0GFRcFm-aY&ob=av2e
Yes, it won't be long before they descend to our standard of living. Gloat! Gloat!
What gets me is that we Americans are mad at our system for funneling all of our hard-earned savings to the likes of MF Global and the TBTFs by a corrupt legislature, so that we have to helplessly stand by and watch our standard of living sink to the level of rural Chinese. But at the same time, the Europeans, who, truth be told, have a relatively much higher standard of living than we do because somehow their tax-dollars get funneled back into public expenditures that help everyone rather than pay for black-ops, Gitmo, 50,000 bases all over the solar system, a new war every two years, extraordinary rendition, waterboarding, airport skanners for babies that cause skin cancer, military drones to spy on American citizens, consultant fees to gut the constitution, etc, etc, etc--this is something we simply cannot tolerate. Bizarre.
Lorenz attractor.
It's the end of deficit spending in Europe as we know it.
.....would that be "officially" or "unofficially"?......................
They are taking deficit-spending to a whole new level: if it's broken, don't fix it, break it some more ... if it's not broken, then what the hell are you waiting for?
There's a meeting on this next week, to discuss whether any declaration of the notion is official or not.
Should be good to hold the markets up for another week...
are these meetings about the next meeting or is there every really a meeting about anything other than meeting about meeting, because if they want to save some money they should quit having all of these meetngs
I'm confused by reading all these comments about austerity and/or the results of the ECB meeting being without result. You guys did see what came out of that meeting, right? The ECB agreed to:
a) provide an UNLIMITED amount of debt financing to eurozone banks for a period of THREE YEARS, and
b) accept lower-quality collateral as security for the loans it makes to banks.
Doesn't that look like commercial banks now have the ability to monetize euro bonds with the direct backing of the ECB? Isn't this similar to our primary dealers buying treasuries with money supplied by the FED?
correct - EZ commercial banks super-stuffed with EuroBonds are from now OK as a crisis resolution mechanism, thanks to the whole EZ agreeing and the UK's dash to have the City of London's financial companies excempted from EU "strong supervision" slapped down.
this means now the EZ functions as an inner core in financial matters - expect nationalizations and/or forced recapitalizations, perhaps a Tobin Tax, etc. etc. EZ wants them "stodgy" and will apply state force to make them so.
It is similar only in part with the Primary Dealer deal in the US - the mechanics are the same while the structure of the banking systems is quite different.
The only oulier and strange dog in the equation is Deutsche Bank - I have no clue there, perhaps a forced spin-off?
Since John Corzine likes long complex analogies to
How much leverage he used while stacking REPoS againt REVERSE REPOS to segargated accounts go up in smoke while he got free finacing from the FED , yet maintains his no expert.
Heres my analogy as to what really happened.
Theres probably a meeting for search party to find the next JohnCorzine,,
Do we see a pattern here? Enron , Aig, MF global.)
Heres the pattern. At least the one followed by JC Flowers.
1) buy a company. (shell)
2) replace all AUDIt People, chief risk people, and internal controls people.
3) place your best friend as CEO
4). Buy insurance from JC Flowers that the place burns to the ground.
5)set fire to the building and call the rating agency to explain building is fire.
6)while the building is on fire , have J C Flowers and Private
Equity deliver a truck load of boxes labeled Euro Soverign Debt which is the toxic shit , and it into the fire.
7). From getaway jet, on a laptop,
Change the fine print in the prospectus of MF Global to
"match book Accounting"
Shorts = Longs
Repos = reverse Repos
Free financing the the FED.
In case of liquidty trap;
What is yours in now ours, or the boards.
I see it more as a beuty contest.
Austerity is like dieting
Some are fatter then others,
not all have to diet the same to win the contest...
Definition: Austerity=wealth transfer from poor/middleclass to ultra-rich via reallocation of Federal Expenditures toward interest expense, given that the principal can never be touched plus increased taxes on poor/middleclass who do not have access to secret, untraceable offshore tax-havens.
Here's how it works. Money that was previously paid into programs that directly or indirectly benefit the non-ultrawealthy are instead directed to increased payments of interest on the perpetual debt which can never be reduced. This interest flows directly to the ultra-wealthy who then use the City of London to stash it away in secret offshore tax-havens which currently have a sequestered sum of $20 trillion.
Thus, we have shown
Theorem: DWR = -DW99.999%ers where DWR is the change in wealth for the ultra-rich and DW99.999%ers represents the change in wealth of everyone else.
oh, for Pete's sake! I am talking about austerity in the EZ.
the Ultra-Rich? It's an American Obsession. Yes, there are a few "Oligarchs", and yes, some of them profit from the through.
But the real "winners" in the contest of "shearing the US sheep" are not single persons, it's whole industries and "greater interests". Mostly unfettered corporate interests, really. Greater Idiocies require Committees or Boards of Directors.
For example the Military-Industrial Complex, that gives lots of jobs and convinces daily the US that you need weapons for the next 100 wars, now! And keeps you scared, so that you need some 400m private firearms on top of the biggest army/navy the world ever had.
Or the "Tax Complex" that gives lots of highly paid jobs just to fill out tax forms, profit from dodges, etc.
Or the "Housing Complex", that tries to convince you that you have to buy a house (just the shame of renting, uh), now, and it has to have four times more space that what you really need. Now. Don't save for it, idiot. Buy now, pay later.
Or the "Food Complex", that tries to stuff you (literally) with decreasing quality and increasing quantities.
Or the "Food Complex", that tries to stuff you (literally) with decreasing quality and increasing quantities.
The 'Food Complex' got you so bothered that you had to post about it in duplicate, eh Ghordius?
As I said to you before ZH is US-centric which means they're interpretation of events in Europe come in the form of a market 'capitalist' perspective. For most of them, the historic perspective/relevance is nil. Myopic market analysis is relevant, no doubt, but also limited in scope.
MIC, 'Food Complex, Sports Industry etc etc will all persist under the current monetary set-up. Don't expect change anytime soon.
perhaps I was hungry
yes, I agree
And to come back to arms, armies and navies.
- The US spends half the military budget of the world.
- Twice as much as the next twelve militaries of the planet - of which half are allies.
- Has 90% of the privately held weapons of this mudball.
And the most scared population of all.
Panicked, scared, tense, convinced "someone is there to get them", hyperventilating, popping pills to calm down. Why?
I'm not scared. Well...I guess I am.
I'm scared that the Washington Empire will continue to grow.
I'm scared that the rising police state will reach a level that I cannot tolerate.
I'm scared that if I act in defense of freedom and liberty, I will be killed by the police state.
I'm scared that my family will be targeted by the police state after I'm gone.
I am convinced that 'someone is there to get me, but unfortunately, it's the Washington Empire.
I don't think that's what you meant about Americans being scared, but that's where I'm at.
Ultimately, cui bono? You say corporate interests. Is there ultimately any real difference between that and an oligarchy? Aren't the corps just acting as pass-throughs for the wealth they confiscate? Consider TBTF banks.
yes, austerity is the backside of the compound interest function where the usurer ends up coming and physically taking the ground under your feet in the land your forefathers built.
Why would Mitt bet 10k on stage?
I'm an average American! I have 10k to piss away on a pointless bet. Just a run of the mill American.
Dumbass.
Go get em Ron!
The average American is on government assistance.
Does that include 10k in chips to las Vegas Sands?
Lol
yes.
vegas baby!
How do you build your IRA up to $10,000?
Start with $50,000! I'M IN!!
The average bum is on assistance...
Because: Mitt is trying to make Perry put his money where his mouth is and it was a challenge to his integrity on this comments. Perry didn't hold up very well.
And yes: GO RON! The fact that he's there brining up very real issues is a great service to Americans.
Good point. I think he may regret the large number. He should have done a charity bet to give the dems less ammo.
Is there anybody out there who still thinks that one of these jokers is preferable to the Kenyan socialist in chief?
We're fucked.
If you don't think Ron Paul is better than Obama, I feel sorry for you.
Unless you were only in reference to Mitt/Perry, in that case "carry on".
Ron Paul should win Iowa-unless the disease of the Penetecosal Zio-"Christians" has rotted the foundations of that great State (the State of my origin) Today's sorry pathetic state of Christianity -as evidenced by the nutcake Evangelicals -really exemplifies the sorry state and decay of this once great nation. In a time when we really need moral. responsible intelligent Christians to act as an offset agaisnt the moral decay and degeneracy of the Sodomites and Gomorites - today's 'Christians" are no better at all. Imagine, Rick Perry lecturing Newt and fatihfulness and morality last night. What a joke. The likely true story on Rick perry probably came out when a guy named Robbert Morrow put out a full page add on Perry in the Austin Observer in Austin a couple of months ago about Rick Perry's sexcapades. Got a little coverage around the country, but for the most part was ignored. The elitists want sex perverts in the White House. They can be controlled. They probably have a video Newt having sex with a dog or something -that may be why he's so slavishly loyal to israel and the banksters -they own him. Same for the cokehead sex perverts Clinton, Bush and Obama.
Sorry folks, but that's the way of the world.
The collapse may not happen tomorrow but a triple by pass sure as hell will