<< <i>BHO's stimulus plan pays no regard to deficits. "...we can't worry short term about the deficit." Perpetuating the problem is what I see here. Spend, spend, spend our way out of this crisis(?)
If you have an economy in recession with a declining GDP, the current deficit becomes larger in proportion to GDP even if you don’t spend another dime. The goal would be to get the economy rolling again so that the growth in GDP exceeds the growth in the deficit. Can the gov’t achieve this? That’s the question.
CG >>
That is the question. I have not seen a positive track record by either side of the aisle or the Fed.
Cycles happen...and gov't makes the cycles worse. We are dealing with politicians that scored 47% on a recent civics test. These are not-so-brights leading us through a crisis of which they have no real answers...just throw more money at the crisis.
Can the gov't achieve this? I'm concerned in the effort of so much spending with this administration and the next that the balloon will burst before we are back to "normal."
What would happen to the individual if they spent money like the gov't (in same percentage of income)?
Can you point out just one single time that gov't spending cured a recession?
Here is someone who thinks that government financing is needed. But why should we give any credence to the views of a Nobel Laureate. Better to follow the doctrinaire banter of those who pine for the return of Herbert Hoover and the gold standard.
I see my 401K dwindling and as a reward the traders on Wall Street are averaging between 100-200k in bonuses this year – over $60 billion total for the year. What is wrong with this picture? And Congress has not indicted any of them for what amounts to an Act of Treason on our country. Unfortunately, nothing will come of it because Congress would have to indict itself also in this calamity.
Scalia refered another for Conference of December 12, 2008, the Wrotnowski Case.
This one is said to be stronger and it involves the Connecticut Secretary of State.
This could go one for some time. I suppose it has the potential to create a bit of a mess.
We live in interesting times.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Better to follow the doctrinaire banter of those who pine for the return of Herbert Hoover and the gold standard.
Considering that going pure fiat basically lead to the financial/banking abuses we have seen over the past 10 years, a gold standard would have been far preferable than placing another $20-$50 TRILLION on the backs of the American taxpayer. Sure, we couldn't have lived as high off the hog for the past 25 years, but one less TV, less electronic gadgets, one less 2nd or 3rd home, going out to eat a few less times a year, fewer time shares, and maintaining equity in one's home would have been a small price to pay for avoiding the current crisis.
Blaming Hoover and the gold standard for the 1929 crash, rather than the easy monetary policy of the FED during the 1920's and the equally lax regulation by lawmakers during that time, is ignoring the true causes of the crash. In fact FDR's New Deal policies including the banning of private gold ownership did nothing to stop the depression of the 1930's. Hoover did indeed make matters worse by trying to do "something" from 1930-1932. But as we all know, govt "fixes" almost always only worsen the crisis in the end.
As we slowly go down the toilet, as predicted, I think it is time for all of us to pay attention to just where we are as a country. Those of us that can, are just going to have to adapt to our new socialist type government and forget getting back to the past. Those days are over. No printing of trillions of dollars, or government infrastructure plans are going to fix any of this.
Our parents and we have killed the tree that was America. By living the high life and allowing the seeds of socialism to be sown we have done the great experiment in. We have allowed 100,000 laws to be passed that now restricted every facet of our lives, and there is no turning back.
It is not the end of the world. We must simply learn how to exist in a country ruled by the bureaucrats. We must learn to hide, become more secretive, wear whatever symbol they tell us to on our shirts, while we pray in secret, and try to carry on. Times have changed and our children will adapt to a society much like that in Europe, or Russia, hopefully not China.
We have left our golden years and now entered our decline, but even in those very restrictive societies around the world the smart ones, the ones that pay attention, still prosper to some degree.
It is unfortunate that we did not pay more attention to the words of our founders, but we did not, and here we are.
When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe. Thomas Jefferson
The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. Thomas Jefferson
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world. Thomas Jefferson
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them. Thomas Jefferson
My reading of history convinces me that most bad government results from too much government. Thomas Jefferson
No free man shall ever be debarred the use of arms. Thomas Jefferson
The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government. Thomas Jefferson
The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. Thomas Jefferson
To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical. Thomas Jefferson
In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802:
'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered "
<< <i>Can you point out just one single time that gov't spending cured a recession?
Here is someone who thinks that government financing is needed. But why should we give any credence to the views of a Nobel Laureate. Better to follow the doctrinaire banter of those who pine for the return of Herbert Hoover and the gold standard.
On April 29, 2004, the last Oldsmobile rolled off the assembly line in Lansing, Michigan.
The Olds Cutlass had been the #1 selling car in America in the mid-1970's. In the 80's, Olds did well. But in the 90's, it became a stodgy, nothing-special vehicle, stuck in between Pontiac (youth) and Buick (successful middle age). I knew it was not long for this world when an ad agency introduced this slogan: "This is not you father's Oldsmobile!" This immediately popped into my head: "Is it my grandfather's?"
Do you miss the Oldsmobile? Have you given it much thought?
Fast forward to today. Imagine a TV film clip of President-elect Obama. "Oldsmobile is the backbone of American manufacture."
You would think he has gone nuts. Who cares about Oldsmobile? It's gone. Forgotten. Unlamented.
Obama said this on Sunday's "Meet the Press": "The auto industry is the backbone of American manufacture."
That sounded plausible, until we recognize the context: a proposal to bail out GM, Ford, and Chrysler. Not under discussion is a bailout of Toyota, Honda, Nissan, BMW, and other automobile companies that produce cars in the United States.
Ford Motors has decided not to deal with the crooked Congress and is no longer seeking any bailout or loan.
After the others have their cars designed by the "green" movement as part of this package, Ford will be the only producers of vehicles that the vast majority of US buyers want.
After watching the episode of "Top Gear" where it was shown that the BMW M5 gets better milage than a Prius, I laughed my butt off.
Still laughing.........
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
8 really, really scary predictionsDow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening
I knew it was not long for this world when an ad agency introduced this slogan: "This is not you father's Oldsmobile!" This immediately popped into my head: "Is it my grandfather's?"
And I thought, "Is it my former mother-in-law's?"
Q: Are You Printing Money? Bernanke: Not Literally
i actually bought my grandather's oldsmobile...a 67 Cutlass..the firewall would get so hot you'd feel the heat through it on 100mph runs (downhill), all the windows rolled down into the body though (no B pillar)...i would a been history in a roll-over
<< <i>8 really, really scary predictionsDow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening >>
Dollar Devaluation To Fix The Great Recession Frank Beck 12.09.08, 1:00 PM ET
Snip------
Here it is. Stand back. World currencies should be devalued overnight.
It can be done on a country-by-country basis, but a coordinated devaluation would work best. A devaluation of 30% would raise the dollar value of all assets by 43%. A $200,000 home with a $230,000 mortgage would become a $286,000 home with the same mortgage. Presto! The homeowner who was $30,000 upside-down now has $56,000 equity and a good reason to make his payments. Both the homeowner and the bank are immediately better-off.
<< <i>8 really, really scary predictionsDow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening >>
Men, we must rout out the Nay Sayers. You will recognize them, they are always short and they are real nervous, they have stolen huge amounts of wealth from unsuspecting common folk and we as a nation are poorer for it all. They are modern pirates working with a computer, buying and selling our houses and credit cards and our resources, with little of the fruits of our industry going to the people that would believe in them and invest in their success; we've been ripped off.
Your orders are to scout the positions and the bivouacs of the Nay Sayers and give me descriptions of their leaders. I want you all back in two weeks with a full report. This is an important mission. The Princess has accompanied me to wave you off to the field. Look sharp!
Here's a shot of him in 1959 as an eight year old in the first season of "Denace the Menace".
------------------
This Gary North was the whacko who wrote books and did interviews for 24 months warning us about the diasters of Y2K that were upon us.
He was one of the most prominent promoters of Y2K hysteria during the late 1990s.
Before that he was a major player in the Christian Dominionist movement.
And now he has become a god bug econimist and still writes and writes and writes. He's been sucking the fruit from the people all his life and yet he's never been right yet. Apparently, he must present a convincing arguement.
Still don't know how he went from Y2K failure to instant economist.
He has been busy, though.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
And now he has become a god bug economist and still writes and writes and writes. He's been sucking the fruit from the people all his life and yet he's never been right yet. Apparently, he must present a convincing argument. Still don't know how he went from Y2K failure to instant economist. He has been busy, though.
For a gold bug economist he writes his share of negative views on gold. He was one of only 2 newsletter writers that I read who apparently called the total wipe out of commodities in mid-2008. He and Mish are entrenched in the deflationist camp so no surprise there. Hey, what a great time to be a deflationist newsletter writer. North got that call right so that must make him 1 for ????.
Food for thought................. But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years ......... Thomas Jefferson
<< <i>And now he has become a god bug economist and still writes and writes and writes. He's been sucking the fruit from the people all his life and yet he's never been right yet. Apparently, he must present a convincing argument. Still don't know how he went from Y2K failure to instant economist. He has been busy, though.
For a gold bug economist he writes his share of negative views on gold. He was one of only 2 newsletter writers that I read who apparently called the total wipe out of commodities in mid-2008. He and Mish are entrenched in the deflationist camp so no surprise there. Hey, what a great time to be a deflationist newsletter writer. North got that call right so that must make him 1 for ????.
roadrunner >>
Probably 1 for 10 to the 10th power or so.
I like Mish, alot.
I never read North due to his previous shenanigans. He's been fringe crazy for close to 30 years that I am aware of.
I heard him on a radio interview many years ago and he was a premium plated goldbug. He came across as crazed.
Does he still live on the commune in backwoods Arkansas, or does he have indoor plumbing these days?
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>what was in Mr Wilson's "nerve medicine" anyway? >>
At least your picture stayed.
Was it Laudenum?
Tincture of opium, ya know.
That was back before valium.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
So, why not change the names of Ford, Chrysler, GM to just UAW and just have one bad car company instead of three? We could still have poor construction, cheap materials, and even maybe manage a moderate level of crash protection. The UAW could continue to charge as much for them as the well made, fuel efficient, safe foreign cars cost and the government could buy them from UAW and pass them out to those in need (only one per household, gas card included) as the centerpiece of a Family Incentive Stimulus Tradeoff (FIST). That way, they wouldn't have to fuss with having to sell them in a competitive private market place and UAW would still get plenty of government money. So, we would have the UAW FIST program. Then, we would still have a US owned car company on the DOW and our elected representatives could boast about how they saved the US car industry and helped stimulate the family economic situation. It's all going to be so good..."A car in every garage and a chicken in every pot".
Finally one brave man admits to the public how Wall Street really works!!
“Dec. 11 (Bloomberg) -- Bernard Madoff, founder and president of a New York firm that invested funds for wealthy individuals, hedge funds and other institutions, was charged with operating what he told employees was a long-running $50 billion Ponzi scheme in what may be one of the largest frauds in history.
“He’s one of the pioneers of modern Wall Street,” said James Angel, an associate business professor at Georgetown University in Washington. Madoff’s firm was among the first to automate market-making, in which a dealer continually buys and sells stock. The company was among the largest to offer “payment for order flow,” or paying to handle customer orders.
Madoff allegedly confessed to FBI agent Theodore Cacioppi on Dec. 11, saying there was “no innocent explanation,” the SEC said in its complaint. Madoff said it was his fault and he had “paid investors with money that wasn’t there.” He also said he was “insolvent” and he expected to go to jail, it said.
The Madoff firm had about $17.1 billion in assets under management as of Nov. 17, according to NASD records. At least 50 percent of its clients were hedge funds, and others included banks and wealthy individuals, according to the records.
Madoff said he had about $200 million to $300 million left and planned to distribute money to select employees, family and friends before surrendering to authorities in about a week, the government said.”
Interesting article on the Obama concept. What he fails to mention regarding the discussion that the constitution that just mentions what the govt. can't do to you but does not say what it will do for you is that there is a Bill Of Rights that goes with it Bill of rights, maybe he didn't read that part? The first ten ammendments does name the rights of the citizens. I suspect that if someone tries to hold a constitutional convention to rewrite the constitution that Texas would once again declare independence, succede, and form a new country as a republic, it would be the perfect opportunity. Do it BHO, you can buy your gas from us instead of those pesky Venezuelans.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>what was in Mr Wilson's "nerve medicine" anyway?
>>
I love the "1914-D, Lincoln Cent" episode. I was just starting my lifelong hobby when I saw that episode...albeit a rerun. I was truly saddened years latter when I found out that J. North ran into some interesting problems in life. Ah, the child actor curse.
I see one vote for baloney and one vote for BS. I vote beware.
I think that even those who voted for BHO will surprised at the constitutional destruction that he will (attempt to) render. A more modern interpretation of a more flexible living and breathing document.
I also think that in the not so distant future the United States of America may not be 50 states but a number much lower.
<< <i>I also think that in the not so distant future the United States of America may not be 50 states but a number much lower.
But that's just my opinion.
Ren >>
We're ready to leave anytime now. "We" as in Texas. Oklahoma would probably go with us.
Y'all can buy your gas from the Republic of Texas, all we have to do is uncap the wells that we were forced into capping.
Enviro-nuts are not welcome down here. We'll gladly ship all the EPA folks back to DC post haste and we'll actually defend the southern border.
And we still won't have an income tax! Imagine that.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>I also think that in the not so distant future the United States of America may not be 50 states but a number much lower.
But that's just my opinion.
Ren >>
We're ready to leave anytime now. "We" as in Texas. Oklahoma would probably go with us.
Y'all can buy your gas from the Republic of Texas, all we have to do is uncap the wells that we were forced into capping.
Enviro-nuts are not welcome down here. We'll gladly ship all the EPA folks back to DC post haste and we'll actually defend the southern border.
And we still won't have an income tax! Imagine that. >>
I lived in South Texas for about 5 years, flight training and again as flight instructor. Two years starting 1983 and three years starting 1988.
I remember trucks with gun racks in the back window...with rifles still in them. I "visited" bars where there was a place to park your gun.
"Texas, it's like a whole other country."
We here in Western Colorado, and I make that distinction because it's a different state (of mind), are ready to leave with you. We'll have to build a bridge over New Mexico though.
"We here in Western Colorado, and I make that distinction because it's a different state (of mind), are ready to leave with you. We'll have to build a bridge over New Mexico though."
Hummmmm...well, I see the Oakies, Colorado, AND New Mexico joining with Texas 'cause you have to drive through New Mexico to get to Colorado. We could work out the immigrant situation with our Mexican brothers and sisters, we've always gotten along until the feds started messing with the situation. We could put a border fence up on the west side to keep the Californians out. Of course we could have visas and stuff so if we need to let them in; they can stay for a couple of days. Y'all come.
<< <i>"We here in Western Colorado, and I make that distinction because it's a different state (of mind), are ready to leave with you. We'll have to build a bridge over New Mexico though."
Hummmmm...well, I see the Oakies, Colorado, AND New Mexico joining with Texas 'cause you have to drive through New Mexico to get to Colorado. We could work out the immigrant situation with our Mexican brothers and sisters, we've always gotten along until the feds started messing with the situation. We could put a border fence up on the west side to keep the Californians out. Of course we could have visas and stuff so if we need to let them in; they can stay for a couple of days. Y'all come. >>
New Mexico, as it stands now, would not be welcomed by Texans. Perhaps we could annex part of it, call it New West Texas.
Colorado could be taken into consideration, at least portions of it.
They would have to get rid of the California influence, though.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Comments
<< <i>BHO's stimulus plan pays no regard to deficits. "...we can't worry short term about the deficit." Perpetuating the problem is what I see here. Spend, spend, spend our way out of this crisis(?)
If you have an economy in recession with a declining GDP, the current deficit becomes larger in proportion to GDP even if you don’t spend another dime. The goal would be to get the economy rolling again so that the growth in GDP exceeds the growth in the deficit. Can the gov’t achieve this? That’s the question.
CG >>
That is the question. I have not seen a positive track record by either side of the aisle or the Fed.
Cycles happen...and gov't makes the cycles worse. We are dealing with politicians that scored 47% on a recent civics test. These are not-so-brights leading us through a crisis of which they have no real answers...just throw more money at the crisis.
Can the gov't achieve this? I'm concerned in the effort of so much spending with this administration and the next that the balloon will burst before we are back to "normal."
What would happen to the individual if they spent money like the gov't (in same percentage of income)?
Here is someone who thinks that government financing is needed. But why should we give any credence to the views of a Nobel Laureate. Better to follow the doctrinaire banter of those who pine for the return of Herbert Hoover and the gold standard.
LINKLINK
CG
and the dow is trying to catch up.....
Box of 20
<< <i>Supreme Court Refuses to hear Case >>
Don't worry, there are 15 more behind it.
Scalia refered another for Conference of December 12, 2008, the Wrotnowski Case.
This one is said to be stronger and it involves the Connecticut Secretary of State.
This could go one for some time. I suppose it has the potential to create a bit of a mess.
We live in interesting times.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Considering that going pure fiat basically lead to the financial/banking abuses we have seen over the past 10 years, a gold standard would have been far preferable than placing another $20-$50 TRILLION on the backs of the American taxpayer. Sure, we couldn't have lived as high off the hog for the past 25 years, but one less TV, less electronic gadgets, one less 2nd or 3rd home, going out to eat a few less times a year, fewer time shares, and maintaining equity in one's home would have been a small price to pay for avoiding the current crisis.
Blaming Hoover and the gold standard for the 1929 crash, rather than the easy monetary policy of the FED during the 1920's and the equally lax regulation by lawmakers during that time, is ignoring the true causes of the crash. In fact FDR's New Deal policies including the banning of private gold ownership did nothing to stop the depression of the 1930's. Hoover did indeed make matters worse by trying to do "something" from 1930-1932. But as we all know, govt "fixes" almost always only worsen the crisis in the end.
roadrunner
As we slowly go down the toilet, as predicted, I think it is time for all of us to pay attention to just where we are as a country. Those of us that can, are just going to have to adapt to our new socialist type government and forget getting back to the past. Those days are over. No printing of trillions of dollars, or government infrastructure plans are going to fix any of this.
Our parents and we have killed the tree that was America. By living the high life and allowing the seeds of socialism to be sown we have done the great experiment in.
We have allowed 100,000 laws to be passed that now restricted every facet of our lives, and there is no turning back.
It is not the end of the world. We must simply learn how to exist in a country ruled by the bureaucrats. We must learn to hide, become more secretive, wear whatever symbol they tell us to on our shirts, while we pray in secret, and try to carry on. Times have changed and our children will adapt to a society much like that in Europe, or Russia, hopefully not China.
We have left our golden years and now entered our decline, but even in those very restrictive societies around the world the smart ones, the ones that pay attention, still prosper to some degree.
It is unfortunate that we did not pay more attention to the words of our founders, but we did not, and here we are.
When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe.
Thomas Jefferson
The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.
Thomas Jefferson
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
Thomas Jefferson
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
Thomas Jefferson
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
No free man shall ever be debarred the use of arms.
Thomas Jefferson
The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.
Thomas Jefferson
The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.
Thomas Jefferson
To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.
Thomas Jefferson
In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802:
'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered "
<< <i>Can you point out just one single time that gov't spending cured a recession?
Here is someone who thinks that government financing is needed. But why should we give any credence to the views of a Nobel Laureate. Better to follow the doctrinaire banter of those who pine for the return of Herbert Hoover and the gold standard.
LINKLINK
CG >>
Krugman is an assclown and is this the same Nobel committee that has made awards to Yasser Arifat, algore, Joe Stilitz, ans Le Duc Tho?
<< <i>unless we get into another WWII which is what pulled us out of harms way. >>
Or, Authur Laffer correctly identified, what got us out of the Depression, as SUPPLY-SIDE economics.
<< <i>9500
and the dow is trying to catch up..... >>
it took me almost a day for my "dim bulb" to brighten on that one....
<< <i>
<< <i>Supreme Court Refuses to hear Case >>
Don't worry, there are 15 more behind it.
Scalia refered another for Conference of December 12, 2008, the Wrotnowski Case.
This one is said to be stronger and it involves the Connecticut Secretary of State.
This could go one for some time. I suppose it has the potential to create a bit of a mess.
We live in interesting times. >>
there is even an argument that McCain would not qualify in this blog....
Constitution and natural born citizen definition interpretation
natural resources, an educated and efficient work force.
The problem is that as a National Policy, we have encouraged
consumption rather then savings with our tax policies. Management
has been more interested in their own lifestyles and perks then in the
'
long range viability of the company.
What America will now have to undergo will be some form of repudiation
of Federal debt and a return to sound bussiness principles of debt control
standard accounting proceedures for public held companies, money backed
by something other then hot air and promises. We need to rebuild our manufacturing
base with companies that are leaner, more efficient, innovative with a less bloated
system of rewarding management , especially for poor performance. New regulations
making executive boards more responsible to stockholders for the performance and pay of
the companies executives.
If Federal grants and loans are needed to jump start the renewal, then so be it. Though we may
face a hard future as a People and a Nation, we will emerge stronger, healthier and I hope, wiser.
Camelot
Has The Curtain Fallen On The Last Contango In Washington?
Copyright © 2008
by Antal E. Fekete
All rights reserved
Linky
------------------------------
Backwardation: Facts from Fiction
By: Rob Kirby
Linky
------------------------------
U.S. banks dominate COMEX short positions for gold, silver--startling gold and silver COT information.
By Gene Arensberg
08 Dec 2008 at 11:50 AM GMT-05:00
Linky
------------------------------
The Great Gold Debate: Do Financial Institutions Conspire to Suppress the Price of Gold?
Hosted at the 2008 Las Vegas Hard Assets Investment Conference,
Mandalay Bay Resort & Casino, September 10, 2008.
Moderator: Al Korelin, Korelin Economics Report
Proponent: Bill Murphy, Chairman, Gold Anti-Trust Action Committee (GATA)
Opponent: Tim Wood, Vice President, International Investment Conferences (IIC)
Linky
See Red Alert
roadrunner
by Gary North
On April 29, 2004, the last Oldsmobile rolled off the assembly line in Lansing, Michigan.
The Olds Cutlass had been the #1 selling car in America in the mid-1970's. In the 80's, Olds did well. But in the 90's, it became a stodgy, nothing-special vehicle, stuck in between Pontiac (youth) and Buick (successful middle age). I knew it was not long for this world when an ad agency introduced this slogan: "This is not you father's Oldsmobile!" This immediately popped into my head: "Is it my grandfather's?"
Do you miss the Oldsmobile? Have you given it much thought?
Fast forward to today. Imagine a TV film clip of President-elect Obama. "Oldsmobile is the backbone of American manufacture."
You would think he has gone nuts. Who cares about Oldsmobile? It's gone. Forgotten. Unlamented.
Obama said this on Sunday's "Meet the Press": "The auto industry is the backbone of American manufacture."
That sounded plausible, until we recognize the context: a proposal to bail out GM, Ford, and Chrysler. Not under discussion is a bailout of Toyota, Honda, Nissan, BMW, and other automobile companies that produce cars in the United States.
Oldsmobile Nation
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
After the others have their cars designed by the "green" movement as part of this package, Ford will be the only producers of vehicles that the vast majority of US buyers want.
After watching the episode of "Top Gear" where it was shown that the BMW M5 gets better milage than a Prius, I laughed my butt off.
Still laughing.........
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>Oldsmobile Nation
by Gary North
Gary North? Is that Dennis the Menace?
<< <i>
<< <i>9500
and the dow is trying to catch up..... >>
it took me almost a day for my "dim bulb" to brighten on that one....
Prediction on "Predictions"
8 really, really scary predictionsDow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening
And I thought, "Is it my former mother-in-law's?"
I knew it would happen.
anyway
the fed may want to do this?..they are getting so far to the end of their rope and no momentum whatsoever
it must take four posts to roll the pages now?
<< <i>8 really, really scary predictionsDow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening >>
Dow 4,500 by March 2009 thread
I have some esteemed company.
Ren
Linky
Dollar Devaluation To Fix The Great Recession
Frank Beck 12.09.08, 1:00 PM ET
Snip------
Here it is. Stand back. World currencies should be devalued overnight.
It can be done on a country-by-country basis, but a coordinated devaluation would work best. A devaluation of 30% would raise the dollar value of all assets by 43%. A $200,000 home with a $230,000 mortgage would become a $286,000 home with the same mortgage. Presto! The homeowner who was $30,000 upside-down now has $56,000 equity and a good reason to make his payments. Both the homeowner and the bank are immediately better-off.
Snip------
Linky
RETURN TO $11-$13 SILVER?
Trend of gold as store of wealth 'may start to snowball'--ScotiaMocatta
Deep-rooted global financial problems will escalate the demand for gold as a safe haven.
Author: Dorothy Kosich
Posted: Wednesday , 10 Dec 2008
<< <i>8 really, really scary predictionsDow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market's sharpest thinkers and what they had to say about the future is frightening >>
DOW 4000 might look GREAT if history repeats.
Knowledge is the enemy of fear
<< <i>
After watching the episode of "Top Gear" where it was shown that the BMW M5 gets better milage than a Prius, I laughed my butt off.
Still laughing......... >>
I got better mileage ( on the highway ) from my V8 Grand Cherokee that I bought new in 2000, than I do from this V6 Jeep Liberty I bought new in 2007.
And it was a heck of a lot more fun smoking bmw's with that Jeep than this one .
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Men, we must rout out the Nay Sayers. You will recognize them, they are always short and they are real nervous, they have stolen huge amounts of wealth from unsuspecting common folk and we as a nation are poorer for it all. They are modern pirates working with a computer, buying and selling our houses and credit cards and our resources, with little of the fruits of our industry going to the people that would believe in them and invest in their success; we've been ripped off.
Your orders are to scout the positions and the bivouacs of the Nay Sayers and give me descriptions of their leaders. I want you all back in two weeks with a full report. This is an important mission. The Princess has accompanied me to wave you off to the field. Look sharp!
Captain, take command.
Company. Attention. Left face! Forward, march!
Good Luck, men.
<< <i>
<< <i>Oldsmobile Nation
by Gary North
Gary North? Is that Dennis the Menace?
I think you mean Jay North.
Here's a shot of him in 1959 as an eight year old in the first season of "Denace the Menace".
------------------
This Gary North was the whacko who wrote books and did interviews for 24 months warning us about the diasters of Y2K that were upon us.
He was one of the most prominent promoters of Y2K hysteria during the late 1990s.
Before that he was a major player in the Christian Dominionist movement.
And now he has become a god bug econimist and still writes and writes and writes. He's been sucking the fruit from the people all his life and yet he's never been right yet. Apparently, he must present a convincing arguement.
Still don't know how he went from Y2K failure to instant economist.
He has been busy, though.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
For a gold bug economist he writes his share of negative views on gold. He was one of only 2 newsletter writers that I read who apparently called the total wipe out of commodities in mid-2008. He and Mish are entrenched in the deflationist camp so no surprise there. Hey, what a great time to be a deflationist newsletter writer. North got that call right so that must make him 1 for ????.
roadrunner
Ron Paul "What Creates These Economic Bubbles?" Ron Paul "What Creates These Economic Bubbles?"
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>And now he has become a god bug economist and still writes and writes and writes. He's been sucking the fruit from the people all his life and yet he's never been right yet. Apparently, he must present a convincing argument. Still don't know how he went from Y2K failure to instant economist. He has been busy, though.
For a gold bug economist he writes his share of negative views on gold. He was one of only 2 newsletter writers that I read who apparently called the total wipe out of commodities in mid-2008. He and Mish are entrenched in the deflationist camp so no surprise there. Hey, what a great time to be a deflationist newsletter writer. North got that call right so that must make him 1 for ????.
roadrunner >>
Probably 1 for 10 to the 10th power or so.
I like Mish, alot.
I never read North due to his previous shenanigans. He's been fringe crazy for close to 30 years that I am aware of.
I heard him on a radio interview many years ago and he was a premium plated goldbug. He came across as crazed.
Does he still live on the commune in backwoods Arkansas, or does he have indoor plumbing these days?
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>what was in Mr Wilson's "nerve medicine" anyway? >>
At least your picture stayed.
Was it Laudenum?
Tincture of opium, ya know.
That was back before valium.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Finally one brave man admits to the public how Wall Street really works!!
“Dec. 11 (Bloomberg) -- Bernard Madoff, founder and president of a New York firm that invested funds for wealthy individuals, hedge funds and other institutions, was charged with operating what he told employees was a long-running $50 billion Ponzi scheme in what may be one of the largest frauds in history.
“He’s one of the pioneers of modern Wall Street,” said James Angel, an associate business professor at Georgetown University in Washington. Madoff’s firm was among the first to automate market-making, in which a dealer continually buys and sells stock. The company was among the largest to offer “payment for order flow,” or paying to handle customer orders.
Madoff allegedly confessed to FBI agent Theodore Cacioppi on Dec. 11, saying there was “no innocent explanation,” the SEC said in its complaint. Madoff said it was his fault and he had “paid investors with money that wasn’t there.” He also said he was “insolvent” and he expected to go to jail, it said.
The Madoff firm had about $17.1 billion in assets under management as of Nov. 17, according to NASD records. At least 50 percent of its clients were hedge funds, and others included banks and wealthy individuals, according to the records.
Madoff said he had about $200 million to $300 million left and planned to distribute money to select employees, family and friends before surrendering to authorities in about a week, the government said.”
Gold is good.
<< <i>U.S. now only 2 states away from rewriting Constitution >>
I call baloney on this.
<< <i>
<< <i>U.S. now only 2 states away from rewriting Constitution >>
I call baloney on this. >>
I'll see your baloney and raise you one full BS.
Silly rabbits.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>what was in Mr Wilson's "nerve medicine" anyway?
I love the "1914-D, Lincoln Cent" episode. I was just starting my lifelong hobby when I saw that episode...albeit a rerun. I was truly saddened years latter when I found out that J. North ran into some interesting problems in life. Ah, the child actor curse.
Ren
<< <i>U.S. now only 2 states away from rewriting Constitution >>
I see one vote for baloney and one vote for BS. I vote beware.
I think that even those who voted for BHO will surprised at the constitutional destruction that he will (attempt to) render. A more modern interpretation of a more flexible living and breathing document.
I also think that in the not so distant future the United States of America may not be 50 states but a number much lower.
But that's just my opinion.
Ren
<< <i>I also think that in the not so distant future the United States of America may not be 50 states but a number much lower.
But that's just my opinion.
Ren >>
We're ready to leave anytime now. "We" as in Texas. Oklahoma would probably go with us.
Y'all can buy your gas from the Republic of Texas, all we have to do is uncap the wells that we were forced into capping.
Enviro-nuts are not welcome down here. We'll gladly ship all the EPA folks back to DC post haste and we'll actually defend the southern border.
And we still won't have an income tax! Imagine that.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>
<< <i>I also think that in the not so distant future the United States of America may not be 50 states but a number much lower.
But that's just my opinion.
Ren >>
We're ready to leave anytime now. "We" as in Texas. Oklahoma would probably go with us.
Y'all can buy your gas from the Republic of Texas, all we have to do is uncap the wells that we were forced into capping.
Enviro-nuts are not welcome down here. We'll gladly ship all the EPA folks back to DC post haste and we'll actually defend the southern border.
And we still won't have an income tax! Imagine that. >>
I lived in South Texas for about 5 years, flight training and again as flight instructor. Two years starting 1983 and three years starting 1988.
I remember trucks with gun racks in the back window...with rifles still in them. I "visited" bars where there was a place to park your gun.
"Texas, it's like a whole other country."
We here in Western Colorado, and I make that distinction because it's a different state (of mind), are ready to leave with you. We'll have to build a bridge over New Mexico though.
Ren
Hummmmm...well, I see the Oakies, Colorado, AND New Mexico joining with Texas 'cause you have to drive through New Mexico to get to Colorado. We could work out the immigrant situation with our Mexican brothers and sisters, we've always gotten along until the feds started messing with the situation. We could put a border fence up on the west side to keep the Californians out. Of course we could have visas and stuff so if we need to let them in; they can stay for a couple of days. Y'all come.
<< <i>"We here in Western Colorado, and I make that distinction because it's a different state (of mind), are ready to leave with you. We'll have to build a bridge over New Mexico though."
Hummmmm...well, I see the Oakies, Colorado, AND New Mexico joining with Texas 'cause you have to drive through New Mexico to get to Colorado. We could work out the immigrant situation with our Mexican brothers and sisters, we've always gotten along until the feds started messing with the situation. We could put a border fence up on the west side to keep the Californians out. Of course we could have visas and stuff so if we need to let them in; they can stay for a couple of days. Y'all come. >>
New Mexico, as it stands now, would not be welcomed by Texans. Perhaps we could annex part of it, call it New West Texas.
Colorado could be taken into consideration, at least portions of it.
They would have to get rid of the California influence, though.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff