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So let me sum up the economic situation
Bear
Posts: 18,954 ✭✭
1.We are faced with either a destructive hyperinflation or a horrific deflation.
2. While the Government and the Fed is printing money at record pace, the M-3
money supply is shrinking at a rate exceeding the 1930s.I have not seen any of
this money, have you?
3.There appears to be no end to the imbalance of our exports to imports.
4.A balanced budget is not even an empty promise, it is now a myth lost in the fog of time.
5.Gold may go up, on the other hand it may go down.
6. Money is good to have but it could be Zimbabwe dollars next year.
7. It is not just the total number of jobs being lost, it is also the quality of jobs being lost.
8. The J6P has been and continues to be screwed by whatever political party is in power.
9. The imbalance between the wealthy and the poor is growing and seems at an all time high.
10. Nobody actually knows what the true national debt and obligations total. If somebody does know
they aren't talking.
11`. Something is wrong ,when 70% of all the people in the country are being supported by the 30%
who are actually paying Federal Taxes.
12. Why do we allow corporations to get tax benefits, when they move jobs and services off shore. Why do
we allow corporations to avoid taxes when they open shell corporate offices in the Bahamas?
people who actually pay taxes.
There, I think that that sums things up. I think that I will now go and hide under the bed for a few years.
2. While the Government and the Fed is printing money at record pace, the M-3
money supply is shrinking at a rate exceeding the 1930s.I have not seen any of
this money, have you?
3.There appears to be no end to the imbalance of our exports to imports.
4.A balanced budget is not even an empty promise, it is now a myth lost in the fog of time.
5.Gold may go up, on the other hand it may go down.
6. Money is good to have but it could be Zimbabwe dollars next year.
7. It is not just the total number of jobs being lost, it is also the quality of jobs being lost.
8. The J6P has been and continues to be screwed by whatever political party is in power.
9. The imbalance between the wealthy and the poor is growing and seems at an all time high.
10. Nobody actually knows what the true national debt and obligations total. If somebody does know
they aren't talking.
11`. Something is wrong ,when 70% of all the people in the country are being supported by the 30%
who are actually paying Federal Taxes.
12. Why do we allow corporations to get tax benefits, when they move jobs and services off shore. Why do
we allow corporations to avoid taxes when they open shell corporate offices in the Bahamas?
people who actually pay taxes.
There, I think that that sums things up. I think that I will now go and hide under the bed for a few years.
There once was a place called
Camelot
Camelot
0
Comments
roadrunenr
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>i to believe that the worst is yet to come ( hang onto your britges all ) >>
To quote the video I saw last night, people are going to lose jobs, it's unavoidable and we can drag it out for 20 years or accept it and begin to recover in 3.
I'll take door #2 Monty.
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Think about those just starting and what they are seeing.
I have nieces & nephews asking me for advice. I fear not for me but for them
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It is entirely possible that neither happens. Demographics going forward will be much different than in the past.
Knowledge is the enemy of fear
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
the expense of depleting my reserves.I imagine that many parents
are doing the same thing ,trying to get thru the storm intact, as a family.
The bottom line seems to be, look to the family rather then the Government,
to bail yourself out. It has always been that way and always will be that way.
I just do not see any way out ,that does not entail going thru a long period of tough time
for all of us.
Camelot
"...I just do not see any way out, that does not entail going thru a long period of tough time for all of us...."
///////////////////////////////////////
That is the heart of the problem/solution.
We would now be getting ready to recover, if "failure"
had not been removed as an option. If nobody can fail,
nobody can succeed; that is where we are headed.
Breadlines and soup-kitchens might wakeup Americans
in time to save their economy and their country. Pain
is usually a good motivator. So far, the only pain has
been visited on the folks who keep picking up the tab
for the lifestyles of the nearly 50% who contribute ZIP.
rant off
Keep an open mind, or get financially repressed -Zoltan Pozsar
Keep an open mind, or get financially repressed -Zoltan Pozsar
I agree 100%. My confidence that the Government has any real answers to prevent it is at an all-time low.
<< <i>I absolutely believe there is an honest answer to number 10, and folks are being sheltered from it, and that the data moles are looking at it.... >>
I have heard that just the SSI obligation over the next 10-15 years is an amazing 53 TRILLION dollars! Damn boomers!
<< <i>i to believe that the worst is yet to come ( hang onto your britges all ) >>
I think they will try to keep a good front to the nation until after the mid term elections. Once these are done the dirt will start to come out from under the rugs!
Fred, Las Vegas, NV
<< <i>We are faced with either a destructive hyperinflation or a horrific deflation
It is entirely possible that neither happens. >>
True. It is also possible that both will happen. Hyperinflation in countries where their currencies collaspe and deflation in the balance.....That would be a swift kick in the pants. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>2. While the Government and the Fed is printing money at record pace, the M-3
money supply is shrinking at a rate exceeding the 1930s. >>
Question about #2. I guess I'm just an old country feller, unschooled in the ways of high finance. I have a question. Why is it that I have yet to see any dollars with Geithner's name on them? With all the bailouts and such, shouldn't they be everywhere? Just where are all those dollars?
<< <i>
<< <i>2. While the Government and the Fed is printing money at record pace, the M-3
money supply is shrinking at a rate exceeding the 1930s. >>
Question about #2. I guess I'm just an old country feller, unschooled in the ways of high finance. I have a question. Why is it that I have yet to see any dollars with Geithner's name on them? With all the bailouts and such, shouldn't they be everywhere? Just where are all those dollars? >>
As Timmy can't master using Turbo Tax, one might draw the conclusion that he lacks the ability to read and write, perhaps even his own name?
or
His signature will appear on currency, but only on the one million and higher bills to be issued a couple of years from now.
Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com
<< <i>Why is it that I have yet to see any dollars with Geithner's name on them? With all the bailouts and such, shouldn't they be everywhere? Just where are all those dollars? >>
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>Why is it that I have yet to see any dollars with Geithner's name on them? >>
The notes would need to be Series 2009 or later to have his signature. I don't believe any new series' have been issued since Geithner took office.
FUBAR!
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It may be possible to figure out just the national govt's debt/obligations but it is essentially impossible to figure out the debt and risks the states and corporations (incl govt staked/owned) have taken on through swaps, derivatives and other "investment" vehicles. Even with a market to market edict it would take years to sort out the millions of products out there. The risks taken on by states and corporations/banks could outweigh what the govt has in Fannie/Freddie, AIG, SS, Health Care, etc. As states and huge corporations fail or begin to fail...who has been bailing them out?
Question about #2. I guess I'm just an old country feller, unschooled in the ways of high finance. I have a question. Why is it that I have yet to see any dollars with Geithner's name on them? With all the bailouts and such, shouldn't they be everywhere? Just where are all those dollars?
The only dollars that might have actually been printed went into the Federal Reserve's commerical bank reserves and have sat untouched ever since. About 1.2 TRILLION was added over the past 18 months. This is interesting because now the money base (M0) is actually 10% larger than M1. In years prior to 2008 M0 was about half the size of M1. Does it make sense that a piece of the pie is now bigger than the whole pie? Well, it makes sense in govt fianance but nowhere else. An accounting gimmick was added to the Treasury's arsenal about 15 years ago (ie overnight sweeping) where they could reclassify up to about 50% of bank deposits as "time deposits." This would allow shifting them out of M1 and into M0. If one wanted to minimize the public's awareness of a rising money supply, then keep M1 small. The fact that M0 is rarely published or reviewed in the media is a natural for this sleight of hand.
"Digital money" created by keystroking via currency swaps, agency debt, treasury auctions, FED's foreign custodial fund, etc. don't show up in any of the money supply numbers. Most of this money is funneled via back door channels through banks, insurers, etc to pay off huge derivative/debt losses. This is the shadow banking system that is many times larger than the true money supply of currency and savings deposits. Just in the past 2 yrs alone the FED's foreign custodial fund has increased by about $1 TRILL ($2T to $3 TRILL). And that doesn't show up in any money supply aggregrate.
roadrunner
Is a dollar worth more now because of Europe, or less now because of California and Illinois?
I'm just getting the feeling that everything financial has been an illusion. The only good indicator that I think I see is the price of gold!
Should I be getting psychiatric help?
I knew it would happen.
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used it, will not cause inflationary pressures as it is not allowed to get
into the hot little hands of the consumer.
Camelot
<< <i>
<< <i>I absolutely believe there is an honest answer to number 10, and folks are being sheltered from it, and that the data moles are looking at it.... >>
I have heard that just the SSI obligation over the next 10-15 years is an amazing 53 TRILLION dollars! Damn boomers!
SSI?
<< <i>
<< <i>
<< <i>I absolutely believe there is an honest answer to number 10, and folks are being sheltered from it, and that the data moles are looking at it.... >>
I have heard that just the SSI obligation over the next 10-15 years is an amazing 53 TRILLION dollars! Damn boomers!
SSI? >>
Yes, SSI
<< <i>Here's the Video. Hugh Hendry: "I Would Recommend You Panic" >>
Good discussion there. (And here.)
Paul Krugman was writing 2 years ago that the new US admin's interventions were not nearly enough, and would serve only to prolong the hurt, and postpone the interventions that are actually needed. Hendry would seem to agree, now with respect tp Europe's banks. Will Sach's go-slow approach probably prevail, if governments have their way? Unless events in the very short term (12 months?) overtake them and us, should we expect a world-wide "lost decade" (or longer), like Japan's "lost decade"?
J[p]852[/p]
<< <i>
<< <i>
<< <i>
<< <i>I absolutely believe there is an honest answer to number 10, and folks are being sheltered from it, and that the data moles are looking at it.... >>
I have heard that just the SSI obligation over the next 10-15 years is an amazing 53 TRILLION dollars! Damn boomers!
SSI? >>
Are you saying that the amount you mentioned is over and above the regular SS budget projections for the next ten years? Where did you get those figures? And why are you knocking Boomers, SSI is available to everyone of working age.
locusts and depressions.We have lived in unreasoned fear and apprehension for as
long as 0ur kind have existed. Perhaps it's just time to say to hell with fear and live
one day at a time.We can stay on our knees for the rest of our life,or stand
up and face all that we fear and know ,that win , lose or draw, we face our ultimate fate
standing straight and tall.
Camelot
I knew it would happen.