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Sheila Bair's Modest Proposal To Fix Everything: Hyperinflation

Tyler Durden's picture




 

This one is actually quite funny, although we feel that the MMTers, the Neo-Keynesians, the Econ 101 textbook fanatics, and the government apparatchiks out there will fail to appreciate the humor. However, we are a little concerned how many of those in charge read into this a little too much, and decide to make this official policy...

From the Washington Post:

Fix income inequality with $10 million loans for everyone!

By Sheila Bair, Published: April 13

Are you concerned about growing income inequality in America? Are you resentful of all that wealth concentrated in the 1 percent? I’ve got the perfect solution, a modest proposal that involves just a small adjustment in the Federal Reserve’s easy monetary policy. Best of all, it will mean that none of us have to work for a living anymore.

For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the “carry trade,” has been enormously profitable for them.

So why not let everyone participate?

Under my plan, each American household could borrow $10 million from the Fed at zero interest. The more conservative among us can take that money and buy 10-year Treasury bonds. At the current 2 percent annual interest rate, we can pocket a nice $200,000 a year to live on. The more adventuresome can buy 10-year Greek debt at 21 percent, for an annual income of $2.1 million. Or if Greece is a little too risky for you, go with Portugal, at about 12 percent, or $1.2 million dollars a year. (No sense in getting greedy.)

Think of what we can do with all that money. We can pay off our underwater mortgages and replenish our retirement accounts without spending one day schlepping into the office. With a few quick keystrokes, we’ll be golden for the next 10 years.

Of course, we will have to persuade Congress to pass a law authorizing all this Fed lending, but that shouldn’t be hard. Congress is really good at spending money, so long as lawmakers don’t have to come up with a way to pay for it. Just look at the way the Democrats agreed to extend the Bush tax cuts if the Republicans agreed to cut Social Security taxes and extend unemployment benefits. Who says bipartisanship is dead?

And while that deal blew bigger holes in the deficit, my proposal won’t cost taxpayers anything because the Fed is just going to print the money. All we need is about $1,200 trillion, or $10 million for 120 million households. We will all cross our hearts and promise to pay the money back in full after 10 years so the Fed won’t lose any dough. It can hold our Portuguese debt as collateral just to make sure.

Because we will be making money in basically the same way as hedge fund managers, we should have to pay only 15 percent in taxes, just like they do. And since we will be earning money through investments, not work, we won’t have to pay Social Security taxes or Medicare premiums. That means no more money will go into these programs, but so what? No one will need them anymore, with all the cash we’ll be raking in thanks to our cheap loans from the Fed.

Come to think of it, by getting rid of work, we can eliminate a lot of government programs. For instance, who needs unemployment benefits and job retraining when everyone has joined the investor class? And forget the trade deficit. Heck, we want those foreign workers to keep providing us with goods and services.

We can stop worrying about education, too. Who needs to understand the value of pi or the history of civilization when all you have to do to make a living is order up a few trades? Let the kids stay home with us. They can play video games while we pop bonbons and watch the soaps and talk shows. The liberals will love this plan because it reduces income inequality; the conservatives will love it because it promotes family time.

I’m really excited! This is the best American financial innovation since liar loans and pick-a-payment mortgages. I can’t wait to get my super PAC started to help candidates who support this important cause. I think I will call my proposal the “Get Rid of Employment and Education Directive.”

Some may worry about inflation and long-term stability under my proposal. I say they lack faith in our country. So what if it cost 50 billion marks to mail a letter when the German central bank tried printing money to pay idle workers in 1923?

That couldn’t happen here. This is America. Why should hedge funds and big financial institutions get all the goodies?

Look out 1 percent, here we come.

 

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Sun, 04/15/2012 - 11:53 | 2346548 GeneMarchbanks
GeneMarchbanks's picture

LOLz @ headline... here we go...

Sun, 04/15/2012 - 11:59 | 2346563 bernorange
bernorange's picture

Uncle Scrooge explains the proposal for people who don't like to read:

http://www.youtube.com/watch?v=t_LWQQrpSc4

 

 

www.pmbug.com

Sun, 04/15/2012 - 12:23 | 2346634 DeadFred
DeadFred's picture

What's the web address to sign up? Can we get the money in an EBT card? Seriously, where are the important details!

Sun, 04/15/2012 - 12:35 | 2346663 Bicycle Repairman
Bicycle Repairman's picture

I'm with Sheila on this.  One minor note, I want my check 6 months before anyone else.

Thanks in advance.

Sun, 04/15/2012 - 12:57 | 2346722 FEDbuster
FEDbuster's picture

I had this idea four years ago (after TARP 1.0), and no one embraced it then either.  I must admit I didn't throw out $10 million per person, mine was a modest $10K VISA card for every American to spend within one year.  If you're going to throw gas on the BBQ to get the coals hot, you might as well spread it around.

Sun, 04/15/2012 - 13:47 | 2346810 engineertheeconomy
engineertheeconomy's picture

G

O

T

 

G

O

L

D

?

Sun, 04/15/2012 - 14:17 | 2346857 TruthInSunshine
TruthInSunshine's picture

This is the actual Paul Krugman plan that he's been working on for he entire length of his Nobel Laureate career, and he's quite pissed that Sheila Bair must have somehow gotten ahold of his notes, and leaked his plan in the form of this op/ed.

He had planned on publishing this blueprint for salvaging the fractional reserve economic foundation of our society in his final book, that would be his magnum opus, that was to be titled:

Digging Our Way To Prosperity: How Ctrl+Print Could Have Saved The Roman Empire Had They Possessed This Technology

 

#KrugmanWillLaughLastWhenHostileUranusian/MartianSpaceInvadersEatSheilaBair'sHead

Sun, 04/15/2012 - 14:37 | 2346912 johnu1978
johnu1978's picture

I think I'm suffering from Doom Porn overload!!!

 

 

-John
Edible Plant Tours - Primitive Skills Classes
http://www.heartrootnatureconnection.com/

Sun, 04/15/2012 - 14:54 | 2346949 AldousHuxley
AldousHuxley's picture

here are your choices:

  1. hyperinflation
  2. depression
  3. bankster bailout
  4. clawback of bankster bonuses, bankruptcy of banks, criminal trial of politicians and banksters, power to working class over executive pigs with private charter flight to Davos to just talk about issues, reconsideration of globalism, etc.

 

But the correct solution is the most difficult and depression is the most painful, so US elites have decided to go with bankster bailouts then hyperinflation once the bankster bets are posted on commodities.

Sun, 04/15/2012 - 15:51 | 2347036 whstlblwr
whstlblwr's picture

Bair is criticizing the Fed in the Post? Shut the fuck up.

Sun, 04/15/2012 - 16:24 | 2347077 lasvegaspersona
lasvegaspersona's picture

we have front row seats for the greatest show of our lifetimes here at Zerohedge

porn or just wholesome entertainment it is exciting

and unlike porn there is a plot, figure it out and win a prize

Sun, 04/15/2012 - 16:41 | 2347105 cossack55
cossack55's picture

We've all figured it out and are just impatiently waiting for the Money Shot.

Sun, 04/15/2012 - 17:25 | 2347150 AldousHuxley
AldousHuxley's picture

money shot has banksters doing your daughter so that she can pay off her debts she was forced upon (student, federal, bailouts, housing, credit, etc.)

Sun, 04/15/2012 - 17:44 | 2347177 Cathartes Aura
Cathartes Aura's picture

FYI, they're doing yer sons too, even if you can't "imagine" that. . .

Sun, 04/15/2012 - 18:24 | 2347259 Manthong
Manthong's picture

The best play for that 10 mil is to be first to plow it all into AAPL.  :-D

Sun, 04/15/2012 - 19:28 | 2347314 Element
Element's picture

People are missing the salient point, not just hyperinflation and debasement, but everyone is then PERSONALLY $10 million in debt to the FED.

Now why would the FED want that?  FED = TBTF BANKS

Party of short-term parties though!

Are you good for it? ... that's ok, you can just work it off ... but the interest may be a wee problem.

Yes citizen, ZIRP is over, we had to raise rates to fight inflation ... now get back to work!

 

It's a pretty funny article though.

Mon, 04/16/2012 - 21:18 | 2350247 AldousHuxley
AldousHuxley's picture

if you take that $10M and buy as much commodity and equities as you can with as much leverage you can get BEFORE everyone  else, then you can profit because by the time inflation flows in to the economy you have already made your bets when everyone else's $10M will have diminished purchasing power.

 

That's why money Fed prints goes to BANKS first. by the time it trickles down to you in the form of wages, good are already priced higher and you only get the short term psychological effect of feeling richer.

 

 

 

 

Sun, 04/15/2012 - 23:08 | 2347698 FeralSerf
FeralSerf's picture

They especially enjoy doing your widowed grandmother.

Mon, 04/16/2012 - 21:13 | 2350239 AldousHuxley
AldousHuxley's picture

it is difficult to identify  which party is pleasing whom in this case...depends whether your grandmother is a GILF  and how young the bankster is I guess.

Sun, 04/15/2012 - 21:06 | 2347554 Absinthe Minded
Absinthe Minded's picture

Absolutely LV Persona. Watching Fight Club right now on Sundance, still a groundbreaking, thought provoking piece of work. " You don't own things, they own you." Never has there been a more true statement.

Sun, 04/15/2012 - 17:31 | 2347159 Hobbleknee
Hobbleknee's picture

3 leads to 2, which leads 1.

Sun, 04/15/2012 - 17:45 | 2347180 Reese Bobby
Reese Bobby's picture

Since #4 is out of the question I'll take #2 shit-for-commie-brains.

Sun, 04/15/2012 - 20:44 | 2347522 CPL
CPL's picture

http://www.bloomberg.com/news/2012-04-13/auto-supplier-warns-of-resin-shortage-disrupting-output.html

 

Well there is that pesky thing of no more break lines or fuel lines being made.  I'm sure the single point of failure of any company that manufactures breaking systems for anything with wheels will ensure the factory will be rebuilt post haste.

Sun, 04/15/2012 - 21:49 | 2347607 mkhs
mkhs's picture

So now we are stealing technology from the Chinese?  I am used to cheap Chinese things breaking.  If they can't make lines that don't break, they should find another line of work.

Sun, 04/15/2012 - 14:02 | 2346843 A Lunatic
A Lunatic's picture

I embraced the shit out of it.........In fact I'm beginning to lose my patience after sitting around on the couch for four miserable damned years waiting for my check...........WTF

Sun, 04/15/2012 - 14:24 | 2346883 The Alarmist
The Alarmist's picture

That's the difference between you and the Criminal Elite ... you sit around and wait for yours, and they show some initiative and demand and/or take theirs.

Sun, 04/15/2012 - 15:34 | 2347012 AldousHuxley
AldousHuxley's picture

no, criminal elite use some suckers to do the raping and killings. mind control. that's why media (facebook) is the most important asset to military. You no longer have to fight the war, just sell it.

Sun, 04/15/2012 - 15:59 | 2347043 LowProfile
LowProfile's picture

You mean like how they sold KONY2012?

LOLZ

Sun, 04/15/2012 - 17:48 | 2347184 Reese Bobby
Reese Bobby's picture

Blah, blah, blah...blah, blah, blah, blah, blah.  I'd like to think I's remove your sphincter the hard way before I stepped into your "freedom" shower.

Sun, 04/15/2012 - 22:42 | 2347662 dwayne elizando
dwayne elizando's picture

@A Lunatic. Dude sign up for disability. It seems to be the career of choice in my neck of the woods.

Sun, 04/15/2012 - 13:00 | 2346725 flacon
flacon's picture

Too bad she was just kidding. I wanna be wealthy too. Where's my money? Huh? Where is MY money? 

 

PRINT! PRINT! PRINT! PRINT! USA! USA! USA! USA! 

Sun, 04/15/2012 - 13:21 | 2346758 Pegasus Muse
Pegasus Muse's picture

OT.  Runs under 10 minutes.  If you agree spread the word. 

=============

 

Impeach Obama 2012! Join The National Campaign!

http://www.youtube.com/watch?v=b76mBlnm86w&list=UUvsye7V9psc-APX6wV1twLg&feature=plcp

 

Sun, 04/15/2012 - 14:05 | 2346851 Real Estate Geek
Real Estate Geek's picture

Quid = Pelosi wouldn't impeach Bush

Quo = Obama 'ain't going nowhere.'

Sun, 04/15/2012 - 14:59 | 2346963 AldousHuxley
AldousHuxley's picture

pelosi's wealth is from her husbands investments in commercial real estate. She loves inflation and bubbles.

 

this is how Americans "support the troops"

http://www.youtube.com/watch?v=J9icvbdLEbE

 

buy the yellow bumper stickers, but when the troops come back make them homeless.

 

 

Sun, 04/15/2012 - 18:17 | 2347244 MagicHandPuppet
MagicHandPuppet's picture

Fuck the (oil mercenary) "troops"

Sun, 04/15/2012 - 22:29 | 2347649 Jedi Longsabre
Jedi Longsabre's picture

Not the troops. Screw all the politicians that send them

Sun, 04/15/2012 - 12:39 | 2346681 engineertheeconomy
engineertheeconomy's picture

With my first 950 Quadrillion Dollars I will buy all the cotton farms and get a monopoly on high quality paper

Then I will borrow another couple hundred quadrillion and buy all the factories that make ink and printing presses

There will be nothing left for the rest of you to manufacture your quadrillions and I will own the world

Bitches

Sun, 04/15/2012 - 13:01 | 2346729 FrankDrakman
Sun, 04/15/2012 - 13:40 | 2346788 engineertheeconomy
engineertheeconomy's picture

Another bitcoin Ponzi Scheme just what the doctor ordered

Sun, 04/15/2012 - 18:43 | 2347296 tallen
tallen's picture

Every fiat currency is a ponzi scheme.

I'm still for Project Mayhem, let the banks fail and wipe all the debts. Then we can finally start to rebuild and escape the bankster lead economy we currently live in.

Sun, 04/15/2012 - 19:36 | 2347399 engineertheeconomy
engineertheeconomy's picture

PROJECT MAYHEM

Let the games begin!

Mon, 04/16/2012 - 03:23 | 2347969 silver500
silver500's picture

On March 29, 2012 Bair was honored by the Romney Institute of Public Management as the Administrator of the Year

http://mpaa.byu.edu/blog/2012/03/administrator-year-and-graduation-banquet

Sun, 04/15/2012 - 16:29 | 2347081 lasvegaspersona
lasvegaspersona's picture

I'll just print a bill with a gazillion zeros and buy your quadrillion notes by the handfull

in Zimbabwe the only way to describe the rate of inflation was with scientific notation (10 to the gazillionth plus 1)

Sun, 04/15/2012 - 12:43 | 2346688 The Big Ching-aso
The Big Ching-aso's picture

 

 

The eventual societal outcome of Bair's solution........................

"How much for your loaf?"

"$2,346,242.23.   No credit cards.  Cash."

"Well does he at least do dishes?"

"No,  but he does read Zero Hedge constantly while creating quality methane in the bathroom."

 

 

 

Sun, 04/15/2012 - 14:40 | 2346919 The Alarmist
The Alarmist's picture

If they only take cash, they are a terrorist outfit, and they will deservingly be droned.

Sun, 04/15/2012 - 13:36 | 2346778 earleflorida
earleflorida's picture

are we there yet?

hold your horses - its just around the corner

Brilliant link 'bernorange' thanks

Sun, 04/15/2012 - 14:58 | 2346960 Monedas
Monedas's picture

Where did Scrooge pick up the Scottish brogue....you Brits gotta put your skid marks on everything ?  Monedas  2012   Comedy Jihad Word Cartoons 

Sun, 04/15/2012 - 12:04 | 2346578 GeneMarchbanks
GeneMarchbanks's picture

Generally I read fast enough to return and quickly add a thought but I had a lot of trouble reading this... My thoughts are dropping from my skull, I... *brain aneurysm*

Sun, 04/15/2012 - 16:46 | 2347113 Marginal Call
Marginal Call's picture

I've seen this show before.

 

http://www.comedycentral.com/video-clips/wiivgt/chappelle-s-show-reparat...

 

I'm rich bitch.

Sun, 04/15/2012 - 21:00 | 2347543 killallthefiat
killallthefiat's picture

My wife inadvertly confused Sheila with my crush, Meredith Whitney.  As a reminder, Meridith said this in 2010:

On December 19, 2010, Whitney was accused of stating that between fifty and a hundred counties, cities, and towns in the United States would have "significant" municipal bond defaults starting in 2011, totaling "hundreds of billions" of dollars in losses. She predicted this during her appearance on the broadcast of the CBS program 60 Minutes. Since the record amount of money lost in one year through municipal bond defaults is $8.2 billion, Ms. Whitney's comments about hundreds of billions in losses drew a great deal of attention, much of it critical.[9] As of February 2012, "her prediction had yet to materialize.

LOL, boy was she wrong. 50-100?

Sun, 04/15/2012 - 21:56 | 2347615 PragmaticIdealist
PragmaticIdealist's picture

Bair must have read the article I wrote back in mid-2010!

http://www.zerohedge.com/article/5-easy-steps-saving-economy

Similar sarcasm and idea to hand out free cash to the people.

Sun, 04/15/2012 - 22:00 | 2347616 PragmaticIdealist
PragmaticIdealist's picture

Oops double post

Sun, 04/15/2012 - 11:53 | 2346553 Frastric
Frastric's picture

In a strange way we should promote this because hyperinflation will be the only thing which can destroy the government/central bank ponzi.

Sun, 04/15/2012 - 11:57 | 2346558 Tyler Durden
Tyler Durden's picture

Bingo.

The only way the status quo can possibly end is if it cannibalizes itself to death. Just like HFT...

And just as the GOP realized the best way to fight Obama (following our suggestion) is to encourage his policies, so the entire system should be cheered on in doing what it does "best."

Sun, 04/15/2012 - 12:02 | 2346569 DormRoom
DormRoom's picture

"the logical conclusion of capitalism is cannibalism" -Jean Luc Goddard.

 

Eventually all territories are territorized, and it must consume itself.

Sun, 04/15/2012 - 12:14 | 2346607 RiverRoad
RiverRoad's picture

Capitalism will most certainly consume itself as the point of diminishing returns keeps diminishing.

Sun, 04/15/2012 - 12:29 | 2346633 Element
Element's picture

Easter Island ... is it possible the 99% would see the flaw in this ... er ... this ... idea?

See Bill Mitchell's billy blog for how to create a stop-gap minimum-wage jobs program in the event of a depression.

Sun, 04/15/2012 - 12:45 | 2346697 engineertheeconomy
engineertheeconomy's picture

1% tacos, central banker asada, all you can eat 

Sun, 04/15/2012 - 12:59 | 2346723 FEDbuster
FEDbuster's picture

Hasten the Collapse, Obama/Bair 2012

Sun, 04/15/2012 - 15:52 | 2347037 hamurobby
hamurobby's picture

Yes because I need four more years!

to prep.

Mon, 04/16/2012 - 00:17 | 2347800 FEDbuster
FEDbuster's picture

You better start thinking four more months.  Actually I think until the dollar goes tits up and loses it's reserve currency status, we will continue to kick the can towards the shit abyss.  Once the productive (trade surplus) countries say "no mas" to the dollar, then things will get interesting.  Of course a good ole world war could be a game changer, too.  Either way, I would still like to get my hands on the $10 million @ .25 % til the train wreck happens.  FED loans aren't exempt from bankruptcy discharge are they?

Mon, 04/16/2012 - 02:28 | 2347944 LowProfile
LowProfile's picture

Way too early, and out of order.

FIRST they trash the euro, or maybe the yen.  Then yen (or the euro).

THEN they trash the dollar.

Might take a year or more.

Have to take turns in the race to "The Great Reset".

Mon, 04/16/2012 - 07:32 | 2348070 FEDbuster
FEDbuster's picture

Don't you think "they" will pull WW3 out of their bag of tricks before they let the economic meltdown happen in Europe, Japan and America?  Playing the World War card allows for austerity, national pride, common sacrifice, lowers populations, creative destruction, rebuilding, "employment" in the military, etc....  This makes much more sense than letting the sheeple soil their own stalls with riots, looting and burning, plus the potential to lose political control of the entire farm?

Mon, 04/16/2012 - 23:26 | 2350463 LowProfile
LowProfile's picture

WWIII?

With who?

Russia?  Bad idea.

China?  WORSE idea.

And if there's WWIII, it will be with BOTH of them against the US, count on it.

Sun, 04/15/2012 - 13:28 | 2346766 RafterManFMJ
RafterManFMJ's picture

The key point is not to be caught in the final conflageration, imagine the implosion at the end of Poltergeist

Sun, 04/15/2012 - 14:05 | 2346842 Zero Debt
Zero Debt's picture

Correction: Paper capitalism will most certainly consume itself as the point of diminishing returns keeps diminishing.

Sun, 04/15/2012 - 15:56 | 2346880 Future Jim
Future Jim's picture

I call BS! Free markets make the pie bigger. Given "no new territories", people will still increasingly innovate and increasingly work harder, smarter, and more efficiently - but only if they have an incentive.

We learned 400 years why only free market incentives work. Communism vs. Free Markets at Plymouth Rock and Jamestown

And we have a modern confirmation that nothing has changed. Unemployment Benefits Increase Unemployment

The term "no new territories" is itself a fallacy. For example, the oceans are not governed by property rights yet. Also, it sounds like you're implying "no new resources" too, but that wouldn't happen for a hundred years or more given current technology, and it may never happen given increases in innovation and efficiency, which are only possible in free markets. A really clear example was that we did not in fact all die as predicted 200 years ago because of the exponentially growing use of wood for energy and materials. then we discoverd the uses of oil for fuel and materials. A really clear potential example would be if fusion power ever became a reality.

Sun, 04/15/2012 - 16:04 | 2347050 engineertheeconomy
engineertheeconomy's picture

So why don't YOU go live at the bottom of the ocean you fucking troll cunt

Sun, 04/15/2012 - 16:27 | 2347075 Future Jim
Future Jim's picture

Use the strawman fallacy much?

I wasn't really talking about living on the ocean because we are nowhere near being out of land for living, but in addition to your excellent idea of living on the ocean, it is valuable for minerals, oil, fish. etc.

Do you actually have a counter argument with one of my many points, or are you just furious that I refuse to conform to peer pressure? When will I learn that absolute conformity benefits everyone absolutely?

If you hate the free market so much, why do you post on ZeroHedge? Perhaps you are suffering from a cognitive dissonance. It is never too late to become the person you want to be.

Sun, 04/15/2012 - 19:46 | 2347418 engineertheeconomy
engineertheeconomy's picture

The way I see it anyone that suggests that the pie can get bigger is a troll, because that's exactly what the central bankers want us to think. Truth is we live in a finite universe, and wealth is neither created or destroyed. Its a constant. The only aspect of the formula that changes is that wealth is transferd from the less fortunate to the evil wicked greedy never satisfied with what they have sons of a bitches

Sun, 04/15/2012 - 20:17 | 2347479 akak
akak's picture

Put down Das Kapital and learn a little economic history, oh ignorant one.

Mon, 04/16/2012 - 23:26 | 2350462 engineertheeconomy
engineertheeconomy's picture

Expanding the money supply only causes paper to devalue, it doesn't cause the pie to swell up. Real wealth is arable land. That's the pie. Governments and bankers have a history  of screwing people out of their land. And their Gold. Thats what paper money is good for, fucking people over. There are an incredible amount of highly educated people that comment on this site that don't understand the first thing about economics. And a very high percentage of them are trolls. I can tell because of how many down arrows I get when my comments get a little too close to the truth for their liking

Mon, 04/16/2012 - 01:02 | 2347853 BooMushroom
BooMushroom's picture

Said the guy with the Internet connection.

Seriously, there is no rational way to argue that "the pie" today was the same size as "the pie" in, say, 1492.

Mon, 04/16/2012 - 01:49 | 2347893 StychoKiller
StychoKiller's picture

Correction, we live in an INFINITE Universe (but on a finite planet); conclusion:  The surface of a planet is NOT the correct place for an expanding technological civilization.

Mon, 04/16/2012 - 02:28 | 2347946 LowProfile
LowProfile's picture

Tru dat, but there's still a hellova lot of room.

We are nowhere near the carrying capacity of Mama Earth.

Tue, 04/17/2012 - 03:05 | 2350696 MeelionDollerBogus
MeelionDollerBogus's picture

the collapsing food supplies and expanding deserts and acidifaction of oceans and increasing industrial & nuclear pollution would argue otherwise.

The arguments of people do not matter.

Those very specific things can end our species very quickly.

You know, limiting the carrying capacity of mama-earth. To zero (for humans & various other large mammals).

Sun, 04/15/2012 - 18:13 | 2347230 WonderDawg
WonderDawg's picture

I'm going to make a call here based on limited but convincing information: you're a douche.

Sun, 04/15/2012 - 20:12 | 2347472 engineertheeconomy
engineertheeconomy's picture

Why, because I used the word CUNT?

Tue, 04/17/2012 - 02:46 | 2350687 MeelionDollerBogus
MeelionDollerBogus's picture

What capitalism? Last time I checked everything was centrally controlled and any "market" was merely a potemkin village.

Sun, 04/15/2012 - 12:20 | 2346623 TheSilverJournal
TheSilverJournal's picture

There is another way to end the status quo and that is to stop the printing. Hyperinflation is economically devastating and should not be cheered on. On honest default and restructing of US debt, and allowing the banks to fail and depositors to lose their bank desposits is much preferable.

However, expecting our ruler to hvae the stones to honestly default on the debt and allow depositors to lose their money is pretty unlikely. Hyperinflate on.

Sun, 04/15/2012 - 12:28 | 2346646 DeadFred
DeadFred's picture

 

 

1 Status Quo prints

2 Status Quo benefits from printing

3 Go to 1

I'm not seeing where to call the 'stop printing' subroutine.

Sun, 04/15/2012 - 13:50 | 2346704 engineertheeconomy
engineertheeconomy's picture

@thesilverjournal -

Yeah right, all the evil in the world will suddenly and abruptly become good, and stop printing...

dream on!

Sun, 04/15/2012 - 14:04 | 2346847 TheSilverJournal
TheSilverJournal's picture

That's why I finished with "hyperinflate on." But cheering on more currency creation is an inappropriate action. Either way, the fiat ponzi will end, either through US restructing of debt and depositors losing money, or through hyperinflation. No need to cheer on the worst option when the end of the dollar is inevitable anyway.

Sun, 04/15/2012 - 16:39 | 2347097 lasvegaspersona
lasvegaspersona's picture

Just because deflation can happen does not mean it will. It is only a theoretical in the world of fiat. Deflation is painful, it is what should happen but the rules are ALWAYS changed. Not a single deflation ever when fiat was in play, ALWAYS hyperinflation. Remember that when you are paying off debts that you can easily service. And remember it when you save in cash only. these are loosing strategies in the game that is playing out.

If they offer the 10 mil I'd take it, I'd pay it off with one of the quadrillion dollar notes the will line the gutters a few years hence.

Sun, 04/15/2012 - 14:49 | 2346935 DosZap
DosZap's picture

However, expecting our ruler to hvae the stones to honestly default on the debt and allow depositors to lose their money is pretty unlikely.

Considering that it would cause a Civil War, I'd say your correct.

As Gerald Celente says;

When you have NOTHING to lose, you LOSE it.

Sun, 04/15/2012 - 12:21 | 2346632 AnAnonymous
AnAnonymous's picture

Cannibilism?

All you need to do is a kicking the can and a truer than true attitude.

You know, members of the species, US citizens excell at defining who is a human and who is not.

And you are only a cannibal when you eat someone of your species.

Cannibalism might even never happen.

The last US citizen on Earth could be a parangon of one's own genre, denying that the bits he eats from his own body come from a human being.

Sun, 04/15/2012 - 13:52 | 2346739 akak
akak's picture

.

The last US citizen on Earth could be a parangon of one's own genre, denying that the bits he eats from his own body come from a human being.

///////////////////////////////////////////////////////////////////////////////////

More algebraic coconut quacking and nonsensical toad honking from the omnipresent chinese citizenism troll --- make me laugh!

Yes, it is much better to be the rabbit-breeding chinese citizenism version of a cannibal: shit on side of road, carry shit into fields to fertilize crops (spreading disease as a bonus), eat shit-covered crops, shit on side of road, and the cycle repeats.  Side cycles can be incorporated for blobbing-up peaceful neighboring nations such as Tibet and Taiwan as necessary.

This of course does not allow for the consumption of plastic rice (mandated by the State Central Planning Committee), nor does it take into account the feasting on roasted puppies, General Tsao's kitten, deep-fried bear gall bladders, badger spleens, tongues of peacocks, or wolf nipple chips.  But contradiction and hypocrisy are inherent in the eternal nose-picking nature of Chinese citizenism.

 

PS: Does being a US citizen make me a cannibil, or a parangon?  I always forget the difference.

Sun, 04/15/2012 - 19:01 | 2347076 New World Chaos
New World Chaos's picture

Ancient Native American wisdom:  The ultimate aphrodisiacs are bankster scrotum and Illuminati pituitary glands.  Much better than forced-abortion soup.  I wish more Chinese citizens knew this.  AnAnonymous, could you do us a favor and spread the word back home?

Sun, 04/15/2012 - 14:40 | 2346911 Future Jim
Future Jim's picture

It is true that to perpetrate cannibalism, genocide, slavery, racism, or even to kill effectively during war, one must see the other guy as less than human, and it is true that Americans are divided into many groups that see other groups as less than human.

The strategy used to divide us is quite sophisticated.

One result of the strategy is The New Hate.

HOWEVER, why single out Americans? This is true in every country. America is the Least Racist Country in the World.

It is almost as if you see Americans as less than human.

Sun, 04/15/2012 - 18:05 | 2347219 Cathartes Aura
Cathartes Aura's picture

from your link:

Abortion is legal, and thus: Sex causes pregnancy, and a choice causes birth. Given that the woman has 100% of the right to make the birth/abort choice, then she has 100% of the responsibility, and the man owes child support only by mutual consent. Do you
  • agree,men should get equal rights
  • agree with the logic but think abortion should be illegal
  • agree with the logic but you like the status quo
  • disagree, you have a quibble
get on over there boys, make your voices heard!! 51% want equal rights for men!! VOTE NOW.
Sun, 04/15/2012 - 14:06 | 2346852 resurger
resurger's picture

Hannibal Lecter's

Sun, 04/15/2012 - 12:05 | 2346579 Stoploss
Stoploss's picture

It is simply a beautiful idea.

Im all for it.

Finally..

Surely we're not that lucky, then again, even psycho's have moment's of clarity.

All the rope they need.

Sun, 04/15/2012 - 12:12 | 2346603 LawsofPhysics
LawsofPhysics's picture

Let us hope that the Tylers of the world can provide enough evidence so that those psychos have enough clarity and conviction to use that rope.

Sun, 04/15/2012 - 20:57 | 2347539 zerozulu
zerozulu's picture

The day we get US$10 million, BigMac will be US$57,000.  How you define "hyperinflation"?

Sun, 04/15/2012 - 12:05 | 2346581 darkpool2
darkpool2's picture

Always felt the term " creative destruction" was underappreciated

Sun, 04/15/2012 - 12:09 | 2346592 LawsofPhysics
LawsofPhysics's picture

You both may be right, but as tyler's evidence has made it abundantly clear, there are not really any "sides" in Washignton, both "sides" are for the "banks by the banks."

 

Let me also simply add that collapse is a broad word, collapse of what?  I would argue that many things/sectors are already collapsing right now.  From the agricultural perspective, I know many farmers who have emptied their silos during the last two years because of the higher prices on things like soybeans, grains, and even corn.  The smart ones used this windfall to buy and store more diesel or improve irrigation, but selling everything may or may not be a wise thing to do, it always depends on how the capital gets allocated.

I don't worry so much about currency collapse because in my neck of the woods we have numerous physical assets (many most people would not even know how to use) and large group of like minded people.

The only "collapse" anyone should worry about are supply lines.  Things like currency, politics and monetary policy allows for lying to keep things going.  Big difference when someone places an order for several tons of (fill in the blank with your favorite commodity) and things don't get delivered.

When real goods and services stop crossing boaders, troops will.  same as it ever was.

Sun, 04/15/2012 - 13:10 | 2346726 engineertheeconomy
engineertheeconomy's picture

Actually, the laws of physics dictate that the troops will NOT cross any borders (boaders?) because their salary will not be enough to pay their bills

 

Sun, 04/15/2012 - 13:39 | 2346786 LawsofPhysics
LawsofPhysics's picture

I'd say that most troops are too ignorant to do math (and I served), but the laws of phyics will certainly apply when there is no fuel to put in those troop transports, and then you would still be correct.

Mon, 04/16/2012 - 01:54 | 2347903 StychoKiller
StychoKiller's picture

Troops, or zombies; which would you rather face?

Sun, 04/15/2012 - 12:11 | 2346596 G_T_A_44
G_T_A_44's picture

Cannibalization is on 'Fast-Track' status as is Global Hyperinflationary D-Pression.

There is No Way Out!

Inflate or Die.

Sun, 04/15/2012 - 12:38 | 2346674 Bicycle Repairman
Bicycle Repairman's picture

THe real owners of this country aren't going anywhere.  They'll just issue new fiat currency.

Sun, 04/15/2012 - 21:48 | 2347606 BidnessMan
BidnessMan's picture

Paper currency is so inconvenient.  Far better to just add a zero to an EBT balance, and renounce paper currency into a cashless world.  Easy to track, can't put it under a mattress, and easy to take whenever the IRS or DHS decides to do so..

Sun, 04/15/2012 - 13:10 | 2346742 knukles
knukles's picture

Game the PISS out of it!

My GoldmanNutsacks approach.
With the checks in the mail, I go to my bank and arrange to lever the $10MM as far as is feasible.  Liar loans, pshaw.  I got this dicked.
With the now $Bazillion$ I immediately go buy all the foreclosed pieces of shit demolition derby firetraps scraper turds say, in Detriot at $5,000 a pop. 
You can do the math.
With each home I buy, I qualify for another $10MM.

(maniacal laughter)

Now I'm just like the balance sheets of the Fed, ECB, et, al.  Horseshit on the asset side of the ledger, moolah forever on the liability side.

My oh, my.  And I might even start sending out fliers in the mail to explain this get rich scheme to others who've no fucking understanding of How It Works ref pg 58

Plus, I'm furthering in the recovery of Home Prices, Doin' God's Work.  I shall be met with infinite BiPartisan Approval, be installed in the US Senate as Senator Phil A. Bluster and the first bill I shall introduce shall be to change the homily upon our coin and currency from "In God We Trust" to "Every Man For Hisself"

Fuckin'-A

Sun, 04/15/2012 - 22:34 | 2347654 SAT 800
SAT 800's picture

It does seem like it would be a good idea to change from "In God We Trust"; to Every Man For Hisself". right now. I think it might be a little startling to the citizens, tho.

Sun, 04/15/2012 - 14:38 | 2346900 steve from virginia
steve from virginia's picture

 

(Sigh ...)

This has appeared elsewhere:

I love Sheila Bair. If she had been Secretary of the Treasury instead of Geithner you would love her too. She wanted the FDIC to kill the TBTFs in 2008 and Geither/Paulson/Bernanke wouldn't let her. Those were their friends she wanted to ruin.

Sheila makes a point (but leaves out something):

To borrow from the Fed/any central bank you need to post collateral. $10mil loan needs $10+ mil collateral. I've seen some + 7% overnight discount window loans from the Fed so there are haircuts. Depends how credit-worthy you are. If yr one of Bernane's buddies the haircut is small. Otherwise ... you would have to post $10,700,000 in collateral. 

Central banks cannot make unsecured loans otherwise they cease being central banks.

People don't understand this, but the logic is inescapable. There cannot be a central bank that makes unsecured loans: doing so would require 100% capital for ALL of the loans it makes. Period.

Central banks cannot 'print money'. It's impossible any more than the bank on the corner can 'print money'.  The central bank can expand its balance sheet, this is because private balance sheets are shrinking elsewhere in the economy.

The Fed or other central banks do not have to add credit: people conveniently forget that we are at the end of the greatest expansion of credit in world history! There are hundreds of trillions in loans that the central banks can 'launder' which is what central banks do.

They accept impaired loans as collateral for new credit at par ... to convince others that their own loans are good collatera (to stop a money panic).

There is $55 trillion of US public/private credit the Fed can take on as collateral: approximately 3% is impaired that the Fed can take onto its balance sheet. The Fed cannot create new money or credit. Should it do so the Fed becomes 'The First and Merchants Federal Bank' (apply for a credit card today!)

This is what the ECB is experiencing right now. If they make secured loans they are always solvent (balance sheet is always theoretically balanced). As Draghi makes unsecured loans the ECB becomes another big, insolvent Eurobank that will fail because it does not have sufficient capital.

The real problem w/ the Fed is whether Bernanke gets sucked into making unsecured loans (that the public knows about). Right now, I'd say no. Bernanke is a smart guy, he also knows he's coming to the end of the Fed's road. There really is no collateral out there that is worth anything: when the diff between collateral and no collateral is zero there is no central banking to take place.

This land of 'no collateral' is an abstract space, you don't want to go there (we are there).

The reason central banks are failing is because borrowers cannot possilby earn enough to service and retire debts, they must re-finance them. This failure has nothing to do with the central bank policies/persons themselves but is an inherent defect in our waste-based economy.

Our economy isn't productive, it doesn't earn anything. It exists because it is shiny collateral for bad loans in an ongoing 'ponzi scheme'. Our economy has never earned anything, why do you think there are hundreds of trillions of debt in the first place? If our economy was productive, the debts would have been retired by the incredible returns on economic activity!

Look for the real problem, it's at the end of your driveway.

 

Sun, 04/15/2012 - 15:52 | 2347031 ArmchairRevolut...
ArmchairRevolutionary's picture

I think you have a misunderstanding of how banks make loans that applies here. The bank makes the loan, then looks for funds. In this case, the bank can purchase treasuries and then use the treasuries for collateral.

Combine this with suspension of mark to market and the banks are getting unsecured loans. Also derivatives which take high risk assets and essentially call them riskless and thus reducing cap requirements.

Sun, 04/15/2012 - 23:39 | 2347750 FeralSerf
FeralSerf's picture

No problemo.  I'll secure my 10 mil with the pile of dogshit the neighbor's dog left on my lawn last night.  It should be worth about as much as some of the other "security" the Fed has.

Mon, 04/16/2012 - 02:00 | 2347911 StychoKiller
StychoKiller's picture

[quote] This land of 'no collateral' is an abstract space, you don't want to go there (we are there). [/quote]

Hmm, I had collateral...too bad about that boating accident!

Sun, 04/15/2012 - 14:33 | 2346903 Peter Pan
Peter Pan's picture

The fact that Sheila Bair can have such a piece published and that we are even commenting, is a clear indication that we have now overtaken the proverbial moth on the way to the winshield.

Sun, 04/15/2012 - 16:33 | 2346965 Future Jim
Future Jim's picture

The GOP doesn't understand economics much better than Obama, and thus are afraid that Obama's policies will actually work, and thus they cause gridlock, which will help the economy, which will then be credited to Obama - just like The Myth of Clintonomics.

Mon, 04/16/2012 - 02:04 | 2347917 StychoKiller
StychoKiller's picture

Captain Kirk:  "Free the boy and exchange him for a more valuable hostage." [or whatever he actually said]

Klingon Captain: "No!"

Captain Kirk: "Why not?"

Klingon Captain:  "Because you wish it!"

The Republicons are opposing Obamatron and the Decepticrats just to be contrary! (And because they have no real [Romneylan] plan of their own!)

Sun, 04/15/2012 - 17:54 | 2347193 Reese Bobby
Reese Bobby's picture

Bimbo!  You think there is a happy ending scenario to CB money printing?  I hope you're not that stupid.  So why get angry if the Ponzi gives you more of the most valuable commodity I know: TIME.  I'll thumbs-down you just because lemmings creep me out...

Sun, 04/15/2012 - 19:55 | 2347440 Beam Me Up Scotty
Beam Me Up Scotty's picture

I got #100 anti-junk green arrow on tylers post!!  Is that like winning the lottery?

Mon, 04/16/2012 - 02:05 | 2347919 StychoKiller
StychoKiller's picture

Now you should be able to pay off those exorbitant HoloDeck rental fees!  :>D

Sun, 04/15/2012 - 21:04 | 2347551 killallthefiat
killallthefiat's picture

The implications of hyperinflation in an amoral society such as the US are not quite the same as Hungary in the 50s or Germany in the 20s. 

I am not sure I can cheer either way.

Gold is not going to save us here in the US, but guns and small communities who think alike might.  Gold will however help after the Black Swan has flown away.

Mon, 04/16/2012 - 02:07 | 2347924 StychoKiller
StychoKiller's picture

The Great Implosion™ is definitely NOT something to look forward to!

Sun, 04/15/2012 - 12:20 | 2346622 Savvy
Savvy's picture

The insiders don't have their asses in US$ they have them in physical commodities, foreign currency and SDRs. All this would do is enslave every idiot who goes wide-eyed at the idea of 2 million. Think you'd owe it back in US$? lol. Hopefully it's satire.

Sun, 04/15/2012 - 14:37 | 2346888 The Alarmist
The Alarmist's picture

They are also buying up all the farmland and forests.

Sun, 04/15/2012 - 16:13 | 2347066 engineertheeconomy
engineertheeconomy's picture

WE have a winner!

Ding ding ding ding ding ding

Sun, 04/15/2012 - 13:39 | 2346771 A Nanny Moose
A Nanny Moose's picture

I am down with this plan. Time to bury this zombie gubmint, before it does some real damage.

Of course the outcome is often a more oppresive government.

Sun, 04/15/2012 - 16:18 | 2347071 odatruf
odatruf's picture

The analog to this for me is that we should cheer on every new bit of federal spending so that we can hit the debt cap a few weeks before the election. That's the only leverage point possibly important enough to move the needle. The few billion wasted getting there fast enough is chump change compared to what can realized in the ensuing hostage cycle.

Mon, 04/16/2012 - 01:23 | 2347875 BooMushroom
BooMushroom's picture

Already on track to hit it in September.

And what if the Republocrats are told a scary story before the vote comes up and rubber-stamp the increase, or quietly agree to just lose the cap altogether?

Sun, 04/15/2012 - 22:54 | 2347683 dwayne elizando
dwayne elizando's picture

Hitler rose to power after the weimar inflation.

Mon, 04/16/2012 - 21:32 | 2350275 GCT
GCT's picture

This sounds alot like MMT.  Time to go all in seeing how the Federal governement can never run out of money because they control it, so why not!!!  LOL

Sun, 04/15/2012 - 11:58 | 2346554 DormRoom
DormRoom's picture

omfg.. Let this be true.  It'd be an excellent way to pay of my student debt.  I know scores of J.D. law students(non T1 schools), unable to find jobs!  If f*cking prospective lawyers can't find job placement, what hope is there for the rest of my generation.

 

And if you're a smug engineering student about tto tell us how we should have went into computer science/engineering.  Talk to me in 18 months after the web2.0 bubble pops.  Or talk to someone who lived through the dot bomb period where they could make 75K out of college, only to be broke as a joke once the dot bomb bubble popped.

 

 

#lostgeneration.

 

Sun, 04/15/2012 - 12:15 | 2346602 Stack Trace
Stack Trace's picture

Engineering professional on deck to say the following:

We have been f*cked hard by overseas labor arbitrage schemes for many years. It is as bad now for most of us as it ever was. Here are my crocodile tears for all the legal and financial professionals just now feeling this pain. Welcome to the jungle where you survive or get crushed under the weight of millions of cheap foreign workers desperate to simply eat. I do have some insight into this happening in firms. My wife works for a large law firm that is now aggressively moving as much legal work as it can overseas. The attorneys are just now starting to experience what the other 98% have lived through for decades.

You have now joined the rest of us. The question is: what are you going to do about it? I spend every day fighting for our opportunities domestically. I have a young intern we are educating and hoping someday to start a series of training programs to help young people learn skills needed to survive in this new environment...

Sun, 04/15/2012 - 12:30 | 2346647 Bob
Bob's picture

It looks like it's the labor that is central, but in reality it has been tax and externality arbitrage.  Our government exempted "foreign" earnings of US multinational corp divisions from normal taxation.  Overseas partnerships--think of the Chinese--basically split the newly freed "income" (stripped from the US taxpayer) with their nominally US partners; the take was further padded by outrageously discriminatory (against genuinely American producers) US trade policy. 

Add to that the absence of environmental and other protections that externalized sane business costs in foreign countries and there was a hell of a lot more money to be made by shifting production to other countries--particularly those with undervalued currencies, such as China--rather than keeping it here. 

It was all very well coordinated and the consequences anything but unintended. 

But as I understand it, labor costs per se were not the largest part of it by any means. 

Sun, 04/15/2012 - 12:36 | 2346667 AnAnonymous
AnAnonymous's picture

Made me laugh.

But shipping away polluting activity was the solution US citizens chose to tackle their own pollution problem.

Calling the result a lack of environmental regulations is quite thick and true to US citizenism.

Besides, it is beyond the facets of regulation.

The main drive is that when wealth is concentrated in one area, it grows more expensive to live on that area.

This is a US citizen middle class effect. All this has to be done to serve US citizen best interests. Certainly not lower class best interests, the usual stepping stone while upper class does more comfortably the usual business thanks to US citizenism.

Sun, 04/15/2012 - 13:07 | 2346737 engineertheeconomy
engineertheeconomy's picture

They have killed the poor, they've killed off the middle class. Maybe most of them just haven't figured it out yet

AT THIS STAGE OF THE PONZI THE CENTRAL BANKERS ARE KILLING OFF WHATS LEFT OF THE RICH

Sun, 04/15/2012 - 16:15 | 2346762 akak
akak's picture

.

But shipping away polluting activity was the solution US citizens chose to tackle their own pollution problem.

The positively incredible, mind-blobbling hypocrisy and offuscation of Chinese citizenism citizens --- make me laugh!  ROR!

This coming from the MOST polluting nation on earth --- and whose pollution grows by leaps and bounds each year!  The environment in the People's Republic of Nose-Picking, like Tibet and Taiwan, is nothing to the fascist Chinese central planners but just another thing to destroy and blob-up.

Always with the chinese citizenism citizen trolls it is "Do as we say, not as we do"!  The toad-honking hypocrisy of the environmental criminals who are chinese citizenism citizens is without parallel or equal.

Now get back to washing your dishes, Hu Flung Poo --- and don't forget to not wash your hands after shitting on the roadside outside the restaurant; after all, it is the chinese citizenism way.

 

Sun, 04/15/2012 - 23:51 | 2347765 FeralSerf
FeralSerf's picture

Have you considered the possibility that much of America's "environmental" regulation and the associated extremely expensive bureaucracy was to encourage the offshoring of American jobs to cut off the balls of American labor and transfer wealth to the very multinational top rung?

That's what happened.  Maybe it was planned that way.  It was a way for the planet's owners to take control of China, (which they appear to now have more or less).

Mon, 04/16/2012 - 02:05 | 2347918 akak
akak's picture

Actually, no, I have never considered that possibility, but it is certainly worth considering, given the manifest evil that has been directing world social and political "progress" for at least the last half-century, if not much longer.

Sun, 04/15/2012 - 12:30 | 2346650 HarryM
HarryM's picture

Americans have always been sold that globalization will simply result in cheap products for themselves and rising wages for the 3rd world.

I've always believed that once you truly go global, it is more like water rising and ebbing until it finds level.

50 years of pain ... on the way

Sun, 04/15/2012 - 12:38 | 2346675 AnAnonymous
AnAnonymous's picture

The US of A is a product of globalization.

Back in 1776. Not a few decades back.

Sun, 04/15/2012 - 13:45 | 2346806 akak
akak's picture

And the People's Republic of Nose-Picking is the product of despotism, warfare, oppression, mass slaughter of tens of millions, roadside shitting and general blobbing-up unequalled in the history of mankind, going back more than two millenia.

Rhino horn-grinding Chinese physician, heal thyself!

Sun, 04/15/2012 - 20:05 | 2347459 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

The US of A is a product of globalization.

Back in 1776. Not a few decades back.

Sure, sure, keep rewriting US of A history in every day letting you changing of midstream horse. More avoidance of self indiction, as belonging to Chinese citizenism eternal nature.

Today you take a trip on your floating cloud to 1776,July,4th, and give us voice of authority eyewitness account. It must be accepted by decree of Chinese citizenism.

Tomorrow you float your cloud back to 1000, AD, and denying all about 1776, telling quite a tale about US citizen Leif Ericson blobbing up the US citizenism to Vinland.

Now with convincing bluster remake the world of fabled past of Norsemen land grabbers who stole the land from the Skraelings to found the US of A.

With every Chinese citizenism changing of US of A history, you then deny every previous incantation. Biggest strength of Chinese citizenism oppression is following the path of can kicking denialism, leading to running dog ignoration and then endless repeation. This is the mettle of Chinese citizenism.

The mettle, the mettle is the primary factor here.

 

Sun, 04/15/2012 - 13:33 | 2346772 max2205
max2205's picture

Sheila stupid Bair did more than Goldman to fuck up the economy

Fuck her

Sun, 04/15/2012 - 17:43 | 2347174 Reese Bobby
Reese Bobby's picture

When I think "useful idiot" I do think Sheila Bair.  The stupid, no-wet-spot seems to think she is cognizant.  But at the same time I do have trouble fully attacking her because I have a soft spot for all Downs Syndromes "kids."

Mon, 04/16/2012 - 02:13 | 2347930 StychoKiller
StychoKiller's picture

[quote] Americans have always been sold that globalization will simply result in cheap products for themselves and rising wages for the 3rd world. [/quote]

Cheap products for sale in the USA, check.

Rising wages in the 3rd World, check.

What could possibly go wrong?

(FALLING wages in the USA, check!)

Sun, 04/15/2012 - 13:09 | 2346740 bahaar
bahaar's picture

Try to become a physician or hair-dresser or plumber or electrician.  Jobs that cannot be out-sourced.  Until we get robots performing those tasks.

Sun, 04/15/2012 - 14:26 | 2346890 Normalcy Bias
Normalcy Bias's picture

I thought this was coming when I was in law school in 2003. So much legal work can be done with software, or offshored. Thankfully, I bailed out of law school before I incurred three years worth of school loans. After 4.5 years of an Estate battle I can say with confidence, that while there are far too many attorneys, there are far too few good attorneys, so there is opportunity for attorneys that do right by their clients. This economy makes me think that the really wise young people are learning a trade that cannot be outsourced...

Sun, 04/15/2012 - 22:50 | 2347679 Vendetta
Vendetta's picture

Yep.  I welcome the financial and leg professionals to the swampland of globalization.  It was touted to lift all mega yachts.

Sun, 04/15/2012 - 11:55 | 2346555 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

I'd take that $10million and fuck off to Barbados.

Sun, 04/15/2012 - 12:00 | 2346564 LawsofPhysics
LawsofPhysics's picture

Funny you mention Badbados.  I know two Venture Capital guys with plantations on the island already.  A live-in family takes care of the property and the food on the plantation.  A bunch of former black ops guys accompany them and their families every time they visit.  What do these people know that I don't?

Sun, 04/15/2012 - 14:07 | 2346845 engineertheeconomy
engineertheeconomy's picture

They know that the United States Government does not actually exist, what does exist is the Military-Banking complex

 Our enslaving central banker captors that own and control us do not reside in the united states

 They're the real enemy of this country

When will the fucking Marines and special forces wake up to this?

Sun, 04/15/2012 - 18:20 | 2346943 Normalcy Bias
Normalcy Bias's picture

As the realization that this country is going to go "tits-up" becomes more apparent, many of the .01% are increasingly going to steal everything they think they can get away with in order to prepare themselves and their families for survival. There was a news story a few months ago about the sales boom in underground doomsday bunkers in the Hamptons - there was a backlog of orders. Funny enough, but I can no longer find that story...

Sun, 04/15/2012 - 22:52 | 2347681 Vendetta
Vendetta's picture

Are they waterproof?

Mon, 04/16/2012 - 00:45 | 2347838 Normalcy Bias
Normalcy Bias's picture

They were prefab metal cylinders. Top of the line, of course...

Sun, 04/15/2012 - 16:37 | 2347093 koperniuk666
koperniuk666's picture

Well the Bdos government has done  reasonable job of 'spreadin  de prosperity' but its still a corrupt money grabbing place to live. Im not sure how it would cope without the aid packs from say Canada and other large nations. Biggest earner is tourism - might go flat in a crash (certainly hasn t been all that great recently) 10M doesn t buy much either. 

21 by 7 miles - 250,000 persons - cant swing a cat.....

and if the shit hits the fan - you will stand out as the white guy.....

nope ; not recommended.

carib is over - rated  any how. 

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