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Worth a read. I think Christenson asks many of the right questions.
Mesquite
Posts: 4,075 ✭✭✭
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
–John Adams, 1826
–John Adams, 1826
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Good for a refresher.
Knowledge is the enemy of fear
<< <i>He forgot the most important question. >>
Why do elected people discuss lowering the deficit over 10 years like it is a good thing?
Who's going to finance all those retirement funds that want to liquidate, when the economy can't achieve escape velocity because of ZIRP? Never mind the bank insolvency issue.
Currency devaluation and confiscation (bail-ins) of bank accounts & confiscation (over-taxation) of visible assets appear to be the only way out. There's a lot less here than meets the eye.
There was never a rational reason for the bank bailouts, nor for TARP, nor for the Stimulus Bill, nor for QE1, nor for QE2, nor for Operation Twist, nor for QE3. Does anyone seriously believe that there's any sort of economic recovery taking place that isn't simply a liquidity effect from all these money injections into the banking system?
The money is virtually free to the banks, and then they dole it out on the cheap to anyone willing to spend it on more stuff. It's not a real economy. I'd be careful.
I knew it would happen.
Liberty: Parent of Science & Industry
<< <i>Guess I should have majored in economics... Cheers, RickO >>
Modern Economics For Dummies in only four minutes
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>One wonders how long this financial house of cards can continue, and marvels that it has lasted so long. Guess I should have majored in economics...
No expert here but my 2 cents worth:
We can play this financial house of cards with the USD for a long, long time because: 1) We own the world's reserve currency and 2) Most other nation's currencies and economies are fairing as poorly or worse than ours.
How long can we play it? If handled with care,
It's a high stakes game of musical chairs with many people getting rich, the gap between the wealthy and the poor growing wider and wider each day and the middle class disappearing.
<< <i>One wonders how long this financial house of cards can continue, and marvels that it has lasted so long. Guess I should have majored in economics...
Riiiight
And
Right. Jimski is right. Others are right.
House of cards lasting, others in globe also floundering, can the juice we're giving lead to something sustaining?
One thing is sure, the debt is going up in the next 10 years. That won't help.
The card house will likely last as we are still the #1 currency. The euro is sick, the yen is sick, the CHF is too small, and China is now starting to have economy problems.
The various recoveries are unknown. A lot of wealth was destroyed globally in the last bubble pop. How long that will play out is unknown.
I can point to Japan and say it's been more than a lost decade for them(over two), but everyone is different. Can their stimulus save them?
can point to Japan and say it's been more than a lost decade for them(over two),
I've been fortunate over the last 20 years to have traveled fairly extensively, and everywhere I have gone I've see Japanese tourists. How lost can they possibly be?
Knowledge is the enemy of fear
<< <i>Good questions/comments, but not the one I was think of. Keep them coming.
can point to Japan and say it's been more than a lost decade for them(over two),
I've been fortunate over the last 20 years to have traveled fairly extensively, and everywhere I have gone I've see Japanese tourists. How lost can they possibly be? >>
Lost decade for the remaining 99%
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>
<< <i>Good questions/comments, but not the one I was think of. Keep them coming.
can point to Japan and say it's been more than a lost decade for them(over two),
I've been fortunate over the last 20 years to have traveled fairly extensively, and everywhere I have gone I've see Japanese tourists. How lost can they possibly be? >>
Lost decade for the remaining 99% >>
Not quite 99%. More like 90%, but your point is well taken. The top 10% in Japan and in the U.S. are doing quite well.
Knowledge is the enemy of fear
<< <i>And for that 90% life is pure hell, right? >>
Their standard of living continues to drop. Every day.
Liberty: Parent of Science & Industry
<< <i>the average human on this planet has never had it better. >>
Not a very good excuse to reduce their standard of living.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Liberty: Parent of Science & Industry
<< <i>The average human's standard of living has been rising for over 400,000 years, despite intermittant and temporary setbacks. >>
The term "temporary setbacks" over the history of man sorta whitewashes its affect on individual lives. "Devastation" would be more appropiate to those that experience it. These "setbacks" are most often the result of poor central planning and the greed of the planners and those who pull their strings. "Setbacks" are not necessary and can most often be avoided. Seeing a "setback" in the making allows for one to make financial preparation. To be prepared one must recognize it on the horizon. Eyes wide shut will not help.
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>the average human on this planet has never had it better. >>
That's funny. It was just a few years ago they had a higher standard of living. Average SE Asians are our slaves but they have some food so it's great right?
When the top 10% has it good, it's easy to stick your head in the sand and say everything's fine.
Liberty: Parent of Science & Industry
<< <i>Well, everybody wants some, so they jump, unchained, and are runnin' with the devil, down to Panama, where they dance the night away, in a hot for teacher eruption, and we ain't talking about love, mister ice cream man. >>
Many are. With $$ handed to them from the powers that be on our Right Coast. "Life is fine 'cause I got mine" rules.
Meanwhile, the poverty rate in the U.S. has tripled in my lifetime, we've made a billion slaves out of SE Asians, and destroyed the middle class in the interest of.....greed.
Carry on.......
<< <i>Well, everybody wants some, so they jump, unchained, and are runnin' with the devil, down to Panama, where they dance the night away, in a hot for teacher eruption, and we ain't talking about love, mister ice cream man. >>
Where have all the good times gone?
Knowledge is the enemy of fear
Can you please provide stats to support this?
Knowledge is the enemy of fear
<< <i>the poverty rate in the U.S. has tripled in my lifetime,
Can you please provide stats to support this? >>
Cohodk, did you miss the references cited earlier in the thread?
Here's the proof that things are getting worse:
Also, pointing to specific individuals or time periods means that certain participants either do not understand the meaning of the word "average" when used to refer to mean or median of a population, or choose to attempt to obfuscate or use illogical reasoning to support conjecture and anecdotal information.
And if someone is using the peak of 2007 to support their claim that "things are getting worse", the point for that specific case is conceded.
Liberty: Parent of Science & Industry
Setbacks tend to follow explosions, much like a hangover follows a particularly good party. It's called regression toward the mean, and it often overshoots the other direction.
there are many parallels in population ecology, as any deer hunter should know; it sucks for an individual buck that gets shot, but it also sucks for all those starving after a boom that, while fun at first for the deer, leads to overpopulation of more deer than the habitat can support. Eventually, everything evens out.
Granted, it's better to be one of the survivors. For any specific individual and his progeny, their fate depends on the intersection of circumstances (environment and luck) with conscious decisions.
Some of my ancestors were Okies who moved to California for a better life, and I have pictures of relatives who do not look much different than those above.
Liberty: Parent of Science & Industry
<< <i>the poverty rate in the U.S. has tripled in my lifetime,
Can you please provide stats to support this? >>
20% of American children in poverty and growing daily? 50 million total Americans in poverty and growing daily? Masses in the Middle class vanish while low income persons abound? But don't worry, you'll be fine.
CBS News
See Table 22 (extreme poverty was 2.4% in 1964): US Census
Keep on keepin' on. I've lived on both sides of the fence. Homeless shelters and mansions. The shelters are packed with millions living on the streets, but don't worry yourself with them. They'll be fine.
Have a sibling at BoA Merrill Lynch where every trader in the office is pulling down $350k/yr minimum. Have another sibling with a $20,000,000 net worth. Neither of them are too worried either. They got theirs........
The USA has a unique demographic situation that tends to skew stats such as illiteracy, longevity and poverty..
There is no greater country than the USA for one to differentiate ones self from he rest if the crowd. It seems your siblings discovered a way.
Humans for some reason like to fight Darwin's Law. This will be our downfall, not the evil banksters.
Knowledge is the enemy of fear
So who avoided the unnecessary setback of silver losing over 1/2 its value?
Knowledge is the enemy of fear
<< <i>"Setbacks" are not necessary and can most often be avoided. Seeing a "setback" in the making allows for one to make financial preparation
So who avoided the unnecessary setback of silver losing over 1/2 its value? >>
I did. The silver that I did buy above current spot is not a "setback" unless I sell it for less. I saw my $9, $11, and $16 silver lose value, but I still have it.
Keep an open mind, or get financially repressed -Zoltan Pozsar
I saw my $9, $11, and $16 silver lose value, but I still have it
Then you lost.
Knowledge is the enemy of fear
<< <i>I saw my $9, $11, and $16 silver lose value, but I still have it
Then you lost. >>
Saw my house value go from $350K to $275K in 2009 and back to $325K today. Guess I'll have to take that loss as well.
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>
<< <i>I saw my $9, $11, and $16 silver lose value, but I still have it
Then you lost. >>
Saw my house value go from $350K to $275K in 2009 and back to $325K today. Guess I'll have to take that loss as well. >>
What was the value of your home in 2005? 2000? 1990?
It's not fair to take a low point and not average it against the backdrop of the highpoint(s).
peacockcoins
<< <i>
<< <i>I saw my $9, $11, and $16 silver lose value, but I still have it
Then you lost. >>
Saw my house value go from $350K to $275K in 2009 and back to $325K today. Guess I'll have to take that loss as well. >>
Yes. Absolutely. Not only are you still not at high water point, but also 4 years closer to your end.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>I saw my $9, $11, and $16 silver lose value, but I still have it
Then you lost. >>
Saw my house value go from $350K to $275K in 2009 and back to $325K today. Guess I'll have to take that loss as well. >>
Yes. Absolutely. Not only are you still not at high water point, but also 4 years closer to your end. >>
And my point is the "end" (sell point and net) is what matters. Up and downs are irrelevent unless one cares to try and catch them with buying and selling at exactly the right times. I do that with all my paper, it's not practical with my physical holdings, including my house.
Keep an open mind, or get financially repressed -Zoltan Pozsar