Here's the source for that "EUTimes" story:
http://freedomfighterradio.net/?p=12655#more-12655
I first thought it was The Onion.
The Long Cold Winter
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Ugly Dougly
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can't sit still
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I wrote; "cumulative effect" ,,,, Duhhh. I meant to write aggregate effect. Each of these clowns is chopping away at the supports of society and NOT paying attention to the effects of the other clowns.
Sailman Thanks for a very important notice.
Chapman has said that a new currency will be introduced in Jan.
The US needs to borrow $ 4.5 trillion next year. OK,,, so who are we going to borrow from.
China is holding about $ 2.3 trillion in it's reserves. That won't cover it. Besides $ 800 B is agency debt and $800 B is treasury debt. They can't cash in US debt to buy other US debt.
Japan is NOT going to take all their domestic Yen savings and buy dollars. NFW
So, how is the US going to keep going without a default?
Chapman says that US banks have been notified to secure storage space to store the new currency and to prepare for a bank holiday.
This has been done many times before in other countries. EVERYBODY who has currency has a limited time to turn it in for the new currency,,, discounted of course. Everybody who is siting on cash MUST identify themselves to get a trade. You must take your illicit money to the bank and identify yourself.
The big discount will make everyone that much poorer. That might make a few people unhappy.
If 9/11 could be planned without any leaks, I suppose a devaluation could be too.
Dan
Sailman Thanks for a very important notice.
Chapman has said that a new currency will be introduced in Jan.
The US needs to borrow $ 4.5 trillion next year. OK,,, so who are we going to borrow from.
China is holding about $ 2.3 trillion in it's reserves. That won't cover it. Besides $ 800 B is agency debt and $800 B is treasury debt. They can't cash in US debt to buy other US debt.
Japan is NOT going to take all their domestic Yen savings and buy dollars. NFW
So, how is the US going to keep going without a default?
Chapman says that US banks have been notified to secure storage space to store the new currency and to prepare for a bank holiday.
This has been done many times before in other countries. EVERYBODY who has currency has a limited time to turn it in for the new currency,,, discounted of course. Everybody who is siting on cash MUST identify themselves to get a trade. You must take your illicit money to the bank and identify yourself.
The big discount will make everyone that much poorer. That might make a few people unhappy.
If 9/11 could be planned without any leaks, I suppose a devaluation could be too.
Dan
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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Sail Man
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I am not liking where any of this is going. What bothers me most is all the back room deals that take place in DC and amongst the rich. I think we are all being sold out. That they feel we are all sheeple.
I for one cant stand all of the politicians in my state looking to the chinese govt as saviors to our employment woes. They are one of the biggest causes of it, and the guv runs to them for help?!? We are slowly selling this country out, piece by piece.
I for one cant stand all of the politicians in my state looking to the chinese govt as saviors to our employment woes. They are one of the biggest causes of it, and the guv runs to them for help?!? We are slowly selling this country out, piece by piece.
Excuse me Ma'am, your going to feel a small prick.
_______________________________________
Algorithms never survive the first thirty seconds of patient contact
_______________________________________
Algorithms never survive the first thirty seconds of patient contact
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Ugly Dougly
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Ugly Dougly
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Brother Nathanael Kapner blasts Alex Jones for not naming the Jew
[quote]Please keep in mind that the author of this article is Brother Nathanael Kapner and that he is Jewish.
THE ANTI DEFAMATION LEAGUE’S RECENT ‘BLAST’ at radio conspiracy ‘patriot’ maven, Alex Jones, appears to be more – AND less – than it seems upon closer examination and rational consideration.
That world Zionism is the center of evil on the planet is beyond any rational dispute. From AIPAC and the ADL to the bogus Southern Poverty Law Center to B’nai B’rith, Zionism is the most ruthless geopolitical (thermonuclear Israel), financial and political force in the United States…and much of the world.
Even a rudimentary understanding of the Wall Street bankster machine, and the beyond corrupt Federal Reserve, reveals the overwhelming power of Zionism which ultimately traces back to the City of London banking center, and the Rothschilds. As David Icke succinctly puts it, “Zionism is the Elephant in the Controllers’ Board Roomâ€
[quote]Please keep in mind that the author of this article is Brother Nathanael Kapner and that he is Jewish.
THE ANTI DEFAMATION LEAGUE’S RECENT ‘BLAST’ at radio conspiracy ‘patriot’ maven, Alex Jones, appears to be more – AND less – than it seems upon closer examination and rational consideration.
That world Zionism is the center of evil on the planet is beyond any rational dispute. From AIPAC and the ADL to the bogus Southern Poverty Law Center to B’nai B’rith, Zionism is the most ruthless geopolitical (thermonuclear Israel), financial and political force in the United States…and much of the world.
Even a rudimentary understanding of the Wall Street bankster machine, and the beyond corrupt Federal Reserve, reveals the overwhelming power of Zionism which ultimately traces back to the City of London banking center, and the Rothschilds. As David Icke succinctly puts it, “Zionism is the Elephant in the Controllers’ Board Roomâ€
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can't sit still
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Dougly, if one does a good reading of the "Protocols of Zion" , it is hard to argue that much of the stated aims are not "In The Works" It doesn't matter if one calls them Zionists, Illuminaughty, trilaterals, etc. There is a group that is pulling pretty hard on the levers that control society.
I was reading an extensive report yesterday on all the various groups that are working towards population reduction. One thing that stood out was a quote. Paraphrased "very intelligent and high-minded people have NO compunction against killing masses of humanity"
I guess that if one can convince ones self that Goldman Sachs is doing god's work, one can convince one self that wholesale killing of humans is no different than killing cockroaches.
I was reading an extensive report yesterday on all the various groups that are working towards population reduction. One thing that stood out was a quote. Paraphrased "very intelligent and high-minded people have NO compunction against killing masses of humanity"
I guess that if one can convince ones self that Goldman Sachs is doing god's work, one can convince one self that wholesale killing of humans is no different than killing cockroaches.
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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can't sit still
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North Korea is doing a currency devaluation much like what is expected here.
" requires North Koreans to swap existing won notes for new ones at an exchange rate of one to 100 — effectively knocking two zeroes off their value. Because of a cap of 100,000 won per family (£475 at the official exchange rate), anyone with significant holdings of cash will have their savings wiped out.
“Loud sounds of weeping in every house have not ceased since the news was released,â€
" requires North Koreans to swap existing won notes for new ones at an exchange rate of one to 100 — effectively knocking two zeroes off their value. Because of a cap of 100,000 won per family (£475 at the official exchange rate), anyone with significant holdings of cash will have their savings wiped out.
“Loud sounds of weeping in every house have not ceased since the news was released,â€
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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can't sit still
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- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
There are a few parallels between North Korea and the US.
In 1920, the US went into a sharp recession. GOV cut it's expenses in half and we came right out. Since then, Keynes preached his gospel and all fiscal reason deserted GOV.
US GOV is increasing military spending and drastically cutting the social net.
Greece, on the other hand is cutting the military and increasing the safety net.
Here's an article straight from the finance minister;
http://online.wsj.com/article/SB1000142 ... lenews_wsj
I doubt that fiscal sanity can be caught like the flu
Here's a paper from an Australian researcher who has good models showing the exact progression between debt and GDP. While this might not sound very exciting, It does show that there is NO escaping;
http://www.debtdeflation.com/blogs/2009 ... g-the-gfc/
Default is inevitable. But, the banks are holding the bonds that will be defaulted on. The banks control GOV. GOV is a marching marionette that is headed straight for a brick wall. Who knows, maybe the wall is made of shit not bricks.
Both China and the banks got so rich that they had to loan the money out to avoid depreciation. They got TOO STUPID with the loans and didn't discover the truth until it was too late. They loaned the money to deadbeats who didn't have the earning power to repay. They kept rolling over the debt. They kept extending the repayment period. That was only a postponement.
The debt is growing exponentially. there is NO catching up.
A quadrillion in bonds will evaporate because the economy is far too small to redeem or service them. GOV / Banks can squeeze out all the blood out of the economy but, the world GDP is only $ 50 trillion [and falling] . There isn't any possible way to service the debt. An instrument that can't be serviced can't be redeemed either.
The banks would like to believe that our children and grandchildren will service this debt. Not going to happen. The exponential growth will make sure of that.
SO, what are the banks going to do to us when we default. The normal thing to do is to demand an IMF style "austerity package". Easy, raise taxes and cut out all services. If you raise taxes and interest, that trashes what little economy is left.
The sheeple [and the Burners] get REAL pissed.
We all go out to the playa and drink sangria and eat bacon. We live happily ever after and the bankers commit sewercide. {they dive into the pools at the sewage treatment plant].
In 1920, the US went into a sharp recession. GOV cut it's expenses in half and we came right out. Since then, Keynes preached his gospel and all fiscal reason deserted GOV.
US GOV is increasing military spending and drastically cutting the social net.
Greece, on the other hand is cutting the military and increasing the safety net.
Here's an article straight from the finance minister;
http://online.wsj.com/article/SB1000142 ... lenews_wsj
I doubt that fiscal sanity can be caught like the flu
Here's a paper from an Australian researcher who has good models showing the exact progression between debt and GDP. While this might not sound very exciting, It does show that there is NO escaping;
http://www.debtdeflation.com/blogs/2009 ... g-the-gfc/
Default is inevitable. But, the banks are holding the bonds that will be defaulted on. The banks control GOV. GOV is a marching marionette that is headed straight for a brick wall. Who knows, maybe the wall is made of shit not bricks.
Both China and the banks got so rich that they had to loan the money out to avoid depreciation. They got TOO STUPID with the loans and didn't discover the truth until it was too late. They loaned the money to deadbeats who didn't have the earning power to repay. They kept rolling over the debt. They kept extending the repayment period. That was only a postponement.
The debt is growing exponentially. there is NO catching up.
A quadrillion in bonds will evaporate because the economy is far too small to redeem or service them. GOV / Banks can squeeze out all the blood out of the economy but, the world GDP is only $ 50 trillion [and falling] . There isn't any possible way to service the debt. An instrument that can't be serviced can't be redeemed either.
The banks would like to believe that our children and grandchildren will service this debt. Not going to happen. The exponential growth will make sure of that.
SO, what are the banks going to do to us when we default. The normal thing to do is to demand an IMF style "austerity package". Easy, raise taxes and cut out all services. If you raise taxes and interest, that trashes what little economy is left.
The sheeple [and the Burners] get REAL pissed.
We all go out to the playa and drink sangria and eat bacon. We live happily ever after and the bankers commit sewercide. {they dive into the pools at the sewage treatment plant].
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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lonestoner916
- Posts: 891
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- Contact:
[quote="can't sit still"]There are a few parallels between North Korea and the US.
In 1920, the US went into a sharp recession. GOV cut it's expenses in half and we came right out. Since then, Keynes preached his gospel and all fiscal reason deserted GOV.
US GOV is increasing military spending and drastically cutting the social net.
Greece, on the other hand is cutting the military and increasing the safety net.
Here's an article straight from the finance minister;
http://online.wsj.com/article/SB1000142 ... lenews_wsj
I doubt that fiscal sanity can be caught like the flu
Here's a paper from an Australian researcher who has good models showing the exact progression between debt and GDP. While this might not sound very exciting, It does show that there is NO escaping;
http://www.debtdeflation.com/blogs/2009 ... g-the-gfc/
Default is inevitable. But, the banks are holding the bonds that will be defaulted on. The banks control GOV. GOV is a marching marionette that is headed straight for a brick wall. Who knows, maybe the wall is made of shit not bricks.
Both China and the banks got so rich that they had to loan the money out to avoid depreciation. They got TOO STUPID with the loans and didn't discover the truth until it was too late. They loaned the money to deadbeats who didn't have the earning power to repay. They kept rolling over the debt. They kept extending the repayment period. That was only a postponement.
The debt is growing exponentially. there is NO catching up.
A quadrillion in bonds will evaporate because the economy is far too small to redeem or service them. GOV / Banks can squeeze out all the blood out of the economy but, the world GDP is only $ 50 trillion [and falling] . There isn't any possible way to service the debt. An instrument that can't be serviced can't be redeemed either.
The banks would like to believe that our children and grandchildren will service this debt. Not going to happen. The exponential growth will make sure of that.
SO, what are the banks going to do to us when we default. The normal thing to do is to demand an IMF style "austerity package". Easy, raise taxes and cut out all services. If you raise taxes and interest, that trashes what little economy is left.
The sheeple [and the Burners] get REAL pissed.
We all go out to the playa and drink sangria and eat bacon. We live happily ever after and the bankers commit sewercide. {they dive into the pools at the sewage treatment plant].[/quote
I must say, you paint a beautiful picture! If you're right, then my shitty credit rating isn't going to mean a damn thing down the road, I may as well get that new credit card. After all, I've already been pre-approved! I'm half kidding of course, but I've often wondered why we can't just get rid of the debt by simply eliminating it. Sorry folks, America is broke and we aren't going to pay you. We'll still keep buying your crap and selling you the little bit we still produce ourselves, but we're going to have to start anew!!
In 1920, the US went into a sharp recession. GOV cut it's expenses in half and we came right out. Since then, Keynes preached his gospel and all fiscal reason deserted GOV.
US GOV is increasing military spending and drastically cutting the social net.
Greece, on the other hand is cutting the military and increasing the safety net.
Here's an article straight from the finance minister;
http://online.wsj.com/article/SB1000142 ... lenews_wsj
I doubt that fiscal sanity can be caught like the flu
Here's a paper from an Australian researcher who has good models showing the exact progression between debt and GDP. While this might not sound very exciting, It does show that there is NO escaping;
http://www.debtdeflation.com/blogs/2009 ... g-the-gfc/
Default is inevitable. But, the banks are holding the bonds that will be defaulted on. The banks control GOV. GOV is a marching marionette that is headed straight for a brick wall. Who knows, maybe the wall is made of shit not bricks.
Both China and the banks got so rich that they had to loan the money out to avoid depreciation. They got TOO STUPID with the loans and didn't discover the truth until it was too late. They loaned the money to deadbeats who didn't have the earning power to repay. They kept rolling over the debt. They kept extending the repayment period. That was only a postponement.
The debt is growing exponentially. there is NO catching up.
A quadrillion in bonds will evaporate because the economy is far too small to redeem or service them. GOV / Banks can squeeze out all the blood out of the economy but, the world GDP is only $ 50 trillion [and falling] . There isn't any possible way to service the debt. An instrument that can't be serviced can't be redeemed either.
The banks would like to believe that our children and grandchildren will service this debt. Not going to happen. The exponential growth will make sure of that.
SO, what are the banks going to do to us when we default. The normal thing to do is to demand an IMF style "austerity package". Easy, raise taxes and cut out all services. If you raise taxes and interest, that trashes what little economy is left.
The sheeple [and the Burners] get REAL pissed.
We all go out to the playa and drink sangria and eat bacon. We live happily ever after and the bankers commit sewercide. {they dive into the pools at the sewage treatment plant].[/quote
I must say, you paint a beautiful picture! If you're right, then my shitty credit rating isn't going to mean a damn thing down the road, I may as well get that new credit card. After all, I've already been pre-approved! I'm half kidding of course, but I've often wondered why we can't just get rid of the debt by simply eliminating it. Sorry folks, America is broke and we aren't going to pay you. We'll still keep buying your crap and selling you the little bit we still produce ourselves, but we're going to have to start anew!!
[img]http://i673.photobucket.com/albums/vv92/Motha420Herb/stoner.gif[/img]
http://lonestonersblog.blogspot.com/
http://lonestonersblog.blogspot.com/
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Sail Man
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As I read it then, a personal stash of pm's, silver for exp, becomes even more important?ygmir wrote:yikes.........It seems somewhat a stretch to compare N.K. with us.....but, even the idea is frightful.......
What does a person do with their savings, though?
dang.......it makes things so..........well..........
just dang.
Excuse me Ma'am, your going to feel a small prick.
_______________________________________
Algorithms never survive the first thirty seconds of patient contact
_______________________________________
Algorithms never survive the first thirty seconds of patient contact
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Sail Man
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Lonestoner, that topic has popped up on the survival forums and while it sounds enticing, most people seem to frown upon the idea in that nothing is 100%. Personally, I'd love to max out my citibank card on a new AR and a plethora of other toys and preps but I dont want to risk getting burned. Right now I am stocking more preps on a per payday basis, a little here and there while squirreling $ away for that nice new "toy" http://www.kel-tec-cnc.com/sub2000.htm for example. I plan on busting my hump in fact paying down that citicard, and then sending the sucka packing.lonestoner916 wrote:I must say, you paint a beautiful picture! If you're right, then my shitty credit rating isn't going to mean a damn thing down the road, I may as well get that new credit card. After all, I've already been pre-approved! I'm half kidding of course, but I've often wondered why we can't just get rid of the debt by simply eliminating it. Sorry folks, America is broke and we aren't going to pay you. We'll still keep buying your crap and selling you the little bit we still produce ourselves, but we're going to have to start anew!!
Concentrate instead on stocking up, canned goods, dry goods, camping and survival gear, clothing, water etc. Kinda like your planning for an extended burn
Excuse me Ma'am, your going to feel a small prick.
_______________________________________
Algorithms never survive the first thirty seconds of patient contact
_______________________________________
Algorithms never survive the first thirty seconds of patient contact
Remember to rotate your food stocks. Replace only what you eat and eat the oldest stuff first. Don't replace what you don't like to eat.
I have a years supply of canned and dried goods. Storage like the Mormons suggest. I used up all my heritage seeds last year so I have to buy new seed in the spring. I need to get some candles and kerosine, extra fuel for my car( I need to barter something for those.). I need to go through and restock my go bags, emergency kits. I've been thinking at setting up caches in various places.
I've got some pallets broken up for firewood, just in case. Winter is a fine time to organize things since I'm inside most of the day. I recycled some aluminum cans today for cash.
Next wednesday is my monthly shopping trip, will see my doctor and state rehab on the same day to save trips.
I have a years supply of canned and dried goods. Storage like the Mormons suggest. I used up all my heritage seeds last year so I have to buy new seed in the spring. I need to get some candles and kerosine, extra fuel for my car( I need to barter something for those.). I need to go through and restock my go bags, emergency kits. I've been thinking at setting up caches in various places.
I've got some pallets broken up for firewood, just in case. Winter is a fine time to organize things since I'm inside most of the day. I recycled some aluminum cans today for cash.
Next wednesday is my monthly shopping trip, will see my doctor and state rehab on the same day to save trips.
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can't sit still
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- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
As I mentioned in the "survival" thread, you MUST consider what others around you have.
IF you can't feed them all and you can't / won't kill the all, you have to run.
If things reach a point where you need to use your survival food, what is everyone else going to do.
Here's an essay that gives a vision of reality.
http://johngaltfla.com/blog3/2009/11/18 ... llar-died/
If GOV does a default, a devaluation or a bank holiday, they will do it without notice. You have to be prepared to travel to a rural area with no notice. Same goes for a visit to the ATM or bank,,,, ni modo Jose. You have to be prepared for checkpoints. It's somewhat doubtful that they will let weapons pass through.
Maybe you could use a CB to ask the truckers where the checkpoints are.
Force majeure and a default are the most likely scenario. The FOREX will go wild. Oil delivery contracts will be suspended. Tankers and container ships will be diverted. Fuel rationing will come pretty fast. GOV and military will feel much more secure if you just sit at home and watch the telly.
Call up your congressman and tell him that you're out of bacon.
IF you can't feed them all and you can't / won't kill the all, you have to run.
If things reach a point where you need to use your survival food, what is everyone else going to do.
Here's an essay that gives a vision of reality.
http://johngaltfla.com/blog3/2009/11/18 ... llar-died/
If GOV does a default, a devaluation or a bank holiday, they will do it without notice. You have to be prepared to travel to a rural area with no notice. Same goes for a visit to the ATM or bank,,,, ni modo Jose. You have to be prepared for checkpoints. It's somewhat doubtful that they will let weapons pass through.
Maybe you could use a CB to ask the truckers where the checkpoints are.
Force majeure and a default are the most likely scenario. The FOREX will go wild. Oil delivery contracts will be suspended. Tankers and container ships will be diverted. Fuel rationing will come pretty fast. GOV and military will feel much more secure if you just sit at home and watch the telly.
Call up your congressman and tell him that you're out of bacon.
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
CB radio-check, gascans-check, bike-check, siphon tube-check, blackpowder pistol with powder,caps,shot,wads-check, flint and steel-check, generator-check, RV and small trailer loaded with camping gear-check.( I need to get 50 gal. fuel tank filled, and need to buy new big batteries.)(Other small repairs needed too, but I'll need some extra cash to even consider that.)
I live in a rural area, so don't need to travel.
I should probably preposition my RV and gear somewhere more secure than my house. Then bugout to my RV if needed. That makes sense. I don't have a lockpicking kit, but I have boltcutters and a lockout kit I used when I was a firefighter. Easier to go thru a stick built wall with a carbide circular saw than pick a lock on a steel door(make your own door.). I've vented plenty of roofs with just an axe.(Note to self-sharpen axe.)
I live in a rural area, so don't need to travel.
I should probably preposition my RV and gear somewhere more secure than my house. Then bugout to my RV if needed. That makes sense. I don't have a lockpicking kit, but I have boltcutters and a lockout kit I used when I was a firefighter. Easier to go thru a stick built wall with a carbide circular saw than pick a lock on a steel door(make your own door.). I've vented plenty of roofs with just an axe.(Note to self-sharpen axe.)
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can't sit still
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This guy has predicted stuff like Dubai all along. He has been very specific about his predictions and analysis.
Here's an example of what he sees in the future;
It is my view that ruining the federal finances is what Obama was hired to do by the syndicate. The high risk of USMilitary coup in the future remains acute in order to avert a USTreasury default, or perhaps coincident with a default. Obama's specific job is to run up deficits and ruin the dollar, which paves the way for the coup. The Cap & Trade game is just another fraud revealed, with credit given to the intrepid internet websites that gave up the ghost. The upcoming coup has a definite purpose, to remove foreign creditors from any receivership tribunal. The Untied States can become a sequestered state, free from foreign interference. Yet isolation would be the fate won."
It's an interesting analysis with interesting logic and conclusions. We're going to stick it to the entire world of investors.
http://news.goldseek.com/GoldenJackass/1259826300.php
Here's an example of what he sees in the future;
It is my view that ruining the federal finances is what Obama was hired to do by the syndicate. The high risk of USMilitary coup in the future remains acute in order to avert a USTreasury default, or perhaps coincident with a default. Obama's specific job is to run up deficits and ruin the dollar, which paves the way for the coup. The Cap & Trade game is just another fraud revealed, with credit given to the intrepid internet websites that gave up the ghost. The upcoming coup has a definite purpose, to remove foreign creditors from any receivership tribunal. The Untied States can become a sequestered state, free from foreign interference. Yet isolation would be the fate won."
It's an interesting analysis with interesting logic and conclusions. We're going to stick it to the entire world of investors.
http://news.goldseek.com/GoldenJackass/1259826300.php
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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Ugly Dougly
- Posts: 17612
- Joined: Wed Sep 10, 2003 9:31 am
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- Location: เชียงใหม่
Been through the survivalist hobby many years ago. Don't get me wrong, it's lots of fun.
Here is one of the best texts on the topic:
http://www.paladin-press.com/product/783/Other_Survival
Here is one of the best texts on the topic:
http://www.paladin-press.com/product/783/Other_Survival
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can't sit still
- Posts: 4645
- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
I'm looking at trends again. The trends say; there aren't going to be very many jobs.
OK, I'm finding a lot of interesting news on the economy.
As we all know, the parasites have sucked out much of the lifeblood of the producing economy.
At one time, the financial sector just facilitated the producing economy. It didn't take very much from the total. In the early 70s, gold was withdrawn. The financial sector was freed to increase their predations. Wages have been stagnant since then. Also, no new jobs in the producing sector have been added since then.
I'm only concentrating on the producing segment of the economy.
The producer [in the West] was overpaid compared to the R.O.W. Capital didn't like this and replaced him with machines or low-paid labor. Wages would have drifted towards a global-mean except for the fact that US GOV borrowed money to keep the wage standard elevated. Now, GOV is falling into the debt-trap where it's borrowing is shorter and shorter term with higher and higher costs.
http://www.caseyresearch.com/displayCdd.php?id=301
Since productivity went up while wages remained stagnant, somebody was raking off the difference. R.O.W. loaned us money to keep our wages up to keep consumption rolling along. They probably didn't plan it that way. They thought that we were going to pay them back.
It's interesting to look at the flow of money for the last 35 years;
Central bank interest rates have trended down.
Treasury bond yields have trended down.
Wages have trended down compared to individual productivity.
Value of currency has trended down.
Hourly work input per "widget" has trended down.
Savings account interest has trended down.
Consumer interest rates have trended up.
GOV spending has trended up.
Public debt has trended up.
Yields on stocks are flat.
Wages are flat.
In 1968 GOV had to spend $1 to get an increase of $1 in GDP.
Now, it's over $ 7 to get a $1 increase.
For every $1 dollar in additional taxes collected by GOV, the economy diminishes by $ 3.
The British Banking system opens the door to abuse and theft. The removal of a gold standard removed the last shreds of discipline.
The trends show less and less need for labor. The trends also show that the predations of the parasites have removed needed capital that should be circulating.
The Central Banks realize this. They see that too much wealth has been removed by the bankers. They try to supply credit as a substitute for the missing wealth. They tried to pull in foreign investment in serial bubbles.
The Keynesian mandate for an ever-expanding credit base could NEVER get enough wealth. Lacking wealth, it produced mountains of debt. That wasn't enough, so it had to "print" more credit/debt instruments.
The bankers have their collective fingers crossed in the hopes that WE can produce enough wealth to validate their claims on our future.
It's slowly beginning to dawn on them that we can't do it.
They don't like to admit it but, the FIRE economy is dependent on the consumer.
As WE move towards a global-mean wage, the price of RE will move accordingly. The insurance,,, we'll just do without, in spite of Pelosi's demands. Finance may make a few people rich, but, it won't do much for the average person. It's obvious now that the service-industries need solvent customers.
There is little demand for the American worker. If he lowers his wages to pull in demand, he still won't have disposable income. The bankers are starting to catch on to this. Their parasitic extractions will keep us non-competitive and unemployed.
CB interest rates have gone down. Bubbles have gone up. There still isn't enough blood in the system to keep the banks going. The banks are NOT looking for another system. They're just looking for fresh blood. Maybe cap-and-trade and health-care. They would love to extinguish all legacy costs like pensions and SS.
As if our Keynesian system weren't bad enough, we're saddled with an unworkable political system.
"Democracy is defined as mob rule. No democracy in the history of this world has ever survived and that is a historical fact"
http://www.newswithviews.com/Devvy/kidd41.htm
Look at the costs of the public service unions. Firemen retiring at $ 105,000 a year. It goes on and on. In the private school system, there are about 27 administrators for every 100 teachers. In the Los Angeles school system, there are 117 administrators for every 100 teachers.
Germany produces 75% of the exports from the EU. They STILL don't have enough money to pay for their public costs.
http://globaleconomicanalysis.blogspot. ... ys-no.html
They have the worst economy since the war. I'm sure a good part of the money shortage is due to the predations of banking. But, wage and pension demands are way out of line. Especially when you consider that Germany has a shrinking population to pay for all this.
I don't think that interest-free money would fix everything.
The economies that are making money are the economies that have low wages and little safety net OR, they have lots of resources. In the developed world, the special-interest groups are pulling out whatever money the banks don't take.
We cry about not receiving a living-wage if we can only afford one car. They don't cry about this in Bangladesh. We're all in one big pot now.
Employment is going to go down. People are going to demand that GOV maintain their accustomed standard of living. The baby-boomers are in for a big disappointment. I expect GOV/Banks to abandon private citizens to pursue profits with the military.
Reportedly, Democracy is a bad idea because the people vote for themselves,,, the whole pie. I suspect that they would do the same in a system with debt-free money.
That's a whole different topic.
China just came out and said that if we're not buying all their crap, they're not going to roll the money over into Treasuries. Our spender-in-chief says that we're going to have $ trillion deficits for years to come.
At the moment there is a flight to the dollar because it is the least screwed-up currency. Part of this is foreign but, a lot of it is domestic. People figure that the stock market is going to tank early next year. The flight to safety will continue even after the British pound crashes. Morgan -Stanley said that GB is going to default. The sharks are lining up to short the pound and make a killing. You can bet that the EMU won't back them.
The Club-Med Euro countries are tanking badly. The bankers and MSM are doing all that they can to hide the problems and maintain confidence. THAT won't last much longer.
Bloomberg says that the economy is picking up;
http://www.bloomberg.com/apps/news?pid= ... LTdc&pos=5
Of course, they don't say anything about jobs.
We're slowly seeing a disconnect between the financial economy and the producing economy. The banks are in for a real beating in the coming year. It's hard to predict.
I just don't see any jobs coming.
Dan
OK, I'm finding a lot of interesting news on the economy.
As we all know, the parasites have sucked out much of the lifeblood of the producing economy.
At one time, the financial sector just facilitated the producing economy. It didn't take very much from the total. In the early 70s, gold was withdrawn. The financial sector was freed to increase their predations. Wages have been stagnant since then. Also, no new jobs in the producing sector have been added since then.
I'm only concentrating on the producing segment of the economy.
The producer [in the West] was overpaid compared to the R.O.W. Capital didn't like this and replaced him with machines or low-paid labor. Wages would have drifted towards a global-mean except for the fact that US GOV borrowed money to keep the wage standard elevated. Now, GOV is falling into the debt-trap where it's borrowing is shorter and shorter term with higher and higher costs.
http://www.caseyresearch.com/displayCdd.php?id=301
Since productivity went up while wages remained stagnant, somebody was raking off the difference. R.O.W. loaned us money to keep our wages up to keep consumption rolling along. They probably didn't plan it that way. They thought that we were going to pay them back.
It's interesting to look at the flow of money for the last 35 years;
Central bank interest rates have trended down.
Treasury bond yields have trended down.
Wages have trended down compared to individual productivity.
Value of currency has trended down.
Hourly work input per "widget" has trended down.
Savings account interest has trended down.
Consumer interest rates have trended up.
GOV spending has trended up.
Public debt has trended up.
Yields on stocks are flat.
Wages are flat.
In 1968 GOV had to spend $1 to get an increase of $1 in GDP.
Now, it's over $ 7 to get a $1 increase.
For every $1 dollar in additional taxes collected by GOV, the economy diminishes by $ 3.
The British Banking system opens the door to abuse and theft. The removal of a gold standard removed the last shreds of discipline.
The trends show less and less need for labor. The trends also show that the predations of the parasites have removed needed capital that should be circulating.
The Central Banks realize this. They see that too much wealth has been removed by the bankers. They try to supply credit as a substitute for the missing wealth. They tried to pull in foreign investment in serial bubbles.
The Keynesian mandate for an ever-expanding credit base could NEVER get enough wealth. Lacking wealth, it produced mountains of debt. That wasn't enough, so it had to "print" more credit/debt instruments.
The bankers have their collective fingers crossed in the hopes that WE can produce enough wealth to validate their claims on our future.
It's slowly beginning to dawn on them that we can't do it.
They don't like to admit it but, the FIRE economy is dependent on the consumer.
As WE move towards a global-mean wage, the price of RE will move accordingly. The insurance,,, we'll just do without, in spite of Pelosi's demands. Finance may make a few people rich, but, it won't do much for the average person. It's obvious now that the service-industries need solvent customers.
There is little demand for the American worker. If he lowers his wages to pull in demand, he still won't have disposable income. The bankers are starting to catch on to this. Their parasitic extractions will keep us non-competitive and unemployed.
CB interest rates have gone down. Bubbles have gone up. There still isn't enough blood in the system to keep the banks going. The banks are NOT looking for another system. They're just looking for fresh blood. Maybe cap-and-trade and health-care. They would love to extinguish all legacy costs like pensions and SS.
As if our Keynesian system weren't bad enough, we're saddled with an unworkable political system.
"Democracy is defined as mob rule. No democracy in the history of this world has ever survived and that is a historical fact"
http://www.newswithviews.com/Devvy/kidd41.htm
Look at the costs of the public service unions. Firemen retiring at $ 105,000 a year. It goes on and on. In the private school system, there are about 27 administrators for every 100 teachers. In the Los Angeles school system, there are 117 administrators for every 100 teachers.
Germany produces 75% of the exports from the EU. They STILL don't have enough money to pay for their public costs.
http://globaleconomicanalysis.blogspot. ... ys-no.html
They have the worst economy since the war. I'm sure a good part of the money shortage is due to the predations of banking. But, wage and pension demands are way out of line. Especially when you consider that Germany has a shrinking population to pay for all this.
I don't think that interest-free money would fix everything.
The economies that are making money are the economies that have low wages and little safety net OR, they have lots of resources. In the developed world, the special-interest groups are pulling out whatever money the banks don't take.
We cry about not receiving a living-wage if we can only afford one car. They don't cry about this in Bangladesh. We're all in one big pot now.
Employment is going to go down. People are going to demand that GOV maintain their accustomed standard of living. The baby-boomers are in for a big disappointment. I expect GOV/Banks to abandon private citizens to pursue profits with the military.
Reportedly, Democracy is a bad idea because the people vote for themselves,,, the whole pie. I suspect that they would do the same in a system with debt-free money.
That's a whole different topic.
China just came out and said that if we're not buying all their crap, they're not going to roll the money over into Treasuries. Our spender-in-chief says that we're going to have $ trillion deficits for years to come.
At the moment there is a flight to the dollar because it is the least screwed-up currency. Part of this is foreign but, a lot of it is domestic. People figure that the stock market is going to tank early next year. The flight to safety will continue even after the British pound crashes. Morgan -Stanley said that GB is going to default. The sharks are lining up to short the pound and make a killing. You can bet that the EMU won't back them.
The Club-Med Euro countries are tanking badly. The bankers and MSM are doing all that they can to hide the problems and maintain confidence. THAT won't last much longer.
Bloomberg says that the economy is picking up;
http://www.bloomberg.com/apps/news?pid= ... LTdc&pos=5
Of course, they don't say anything about jobs.
We're slowly seeing a disconnect between the financial economy and the producing economy. The banks are in for a real beating in the coming year. It's hard to predict.
I just don't see any jobs coming.
Dan
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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Ugly Dougly
- Posts: 17612
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- Location: เชียงใหม่
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Ugly Dougly
- Posts: 17612
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lonestoner916
- Posts: 891
- Joined: Sun Jul 29, 2007 4:41 pm
- Location: Gerlach, Nevada
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Are you kidding? I'm honored. You're talking about a guy who just this morning caught himself taking dishes out of the dishwasher and putting them into the refrigerator! Sure I was still half asleep, but damn!ygmir wrote:I'm with you, Lonestoner..........
I've had the same thought (hopefully, I didn't just insult you)
[img]http://i673.photobucket.com/albums/vv92/Motha420Herb/stoner.gif[/img]
http://lonestonersblog.blogspot.com/
http://lonestonersblog.blogspot.com/
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can't sit still
- Posts: 4645
- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
Well, as we go into the new year, there are a few things to keep an eye on. As our longer-term debt matures, our creditors have rolled it over into 6 month debt. They want nothing to do with long -term stuff. Nobody but the FED and the CIA [carribean banks] are buying long dated bonds. So far, US bond auctions have been well subscribed.
It remains to be seen just how this will go on. The debt that needs to be auctioned and rolled over is astronomical.
Bill Bonner;
"Whatever the exact motives that inspire these Treasury buyers to buy fewer long-dated Treasurys, we wonder how motivated they will be to refinance $1.6 trillion of maturing T-bills during the next three months, and $2.5 trillion during the next 12 months (in addition to fresh borrowing!)."
Mish makes a very good argument that the banks are completely broke with NO capital.
http://www.debtdeflation.com/blogs/2009 ... ve-system/
If this is true, the banks will want lots more from the treasury. We're heading into HUGE loan resets. Things have soured so fast that it has moved reset dates closer in time,,, automatically.
OK, so the banks are going to need/want $50 trillion to stay afloat. GOV needs a $trillion for incidental expenses plus $2.5 trillion just to operate. GOV also needs $ 2.5 trillion to repay bonds. A cool $trillion for wars and debt service to the FED.
I'm hiding my piggy bank
It remains to be seen just how this will go on. The debt that needs to be auctioned and rolled over is astronomical.
Bill Bonner;
"Whatever the exact motives that inspire these Treasury buyers to buy fewer long-dated Treasurys, we wonder how motivated they will be to refinance $1.6 trillion of maturing T-bills during the next three months, and $2.5 trillion during the next 12 months (in addition to fresh borrowing!)."
Mish makes a very good argument that the banks are completely broke with NO capital.
http://www.debtdeflation.com/blogs/2009 ... ve-system/
If this is true, the banks will want lots more from the treasury. We're heading into HUGE loan resets. Things have soured so fast that it has moved reset dates closer in time,,, automatically.
OK, so the banks are going to need/want $50 trillion to stay afloat. GOV needs a $trillion for incidental expenses plus $2.5 trillion just to operate. GOV also needs $ 2.5 trillion to repay bonds. A cool $trillion for wars and debt service to the FED.
I'm hiding my piggy bank
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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can't sit still
- Posts: 4645
- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
Well, as I posted on the "California" thread, Arizona says that they are crashing. They also say that cutting the budget back to where it was 6 years ago will NOT fix the problem. The Governor also said that there would be no money for illegals. Hard times make for hard decisions.
As we look around the world, we see a lot of "busted" states. Typically, when a state goes bust, the IMF bails them out but demands that they institute austerity measures to repay the bankers. There is always the threat, worldwide, that if a government does NOT do whatever the bankers demand, the bankers will pull out all their money and crash the state. Leaders have always complained about the "hidden hand" that is the actual controller of a country's destiny. We're always dancing to the tune of the bankers.
Iceland was forced to take the debt of failed private banks and convert it into public debt. Talk about a good screwing. Now, a dozen other countries are facing the same problem.
But wait. What are the alternatives. The banks threaten to crash the economy if the state doesn't follow their orders. Well,,,, if the state is already crashed, tell the banks to shove it.
The banks have a real nice game going. If some client threatens to default, all the other banks gang up on them to insure that they suffer tremendously rather than default.
What if some country breaks ranks successfully? Argentina has done that. They told the banks and the IMF to shove it. They printed the "debt free money" that is the key to escaping the grasp of the banks.
http://www.globalresearch.ca/index.php? ... &aid=16643
Hard times make for hard measures. If a country is collapsed anyway, they should follow Argentina's example. They'll have the same pain but far better long-term prospects. As each country collapses and renounces the IMF, they can support each other. ALBA in Latin America is already doing barter between countries.
Why do you think that Venezuela gets such vitriolic coverage in MSM? The less that a country uses banks, the more control they have over their own destiny.
Churchill said that war was declared on Germany only because they threw out the bankers. Someone else said that the world war could have been prevented by executing 100 bankers. NOW would be a good time to break free of the 'hidden hand"
Here's a video that I posted on another thread. It explains the very basics of the problem in astounding clarity;
As we look around the world, we see a lot of "busted" states. Typically, when a state goes bust, the IMF bails them out but demands that they institute austerity measures to repay the bankers. There is always the threat, worldwide, that if a government does NOT do whatever the bankers demand, the bankers will pull out all their money and crash the state. Leaders have always complained about the "hidden hand" that is the actual controller of a country's destiny. We're always dancing to the tune of the bankers.
Iceland was forced to take the debt of failed private banks and convert it into public debt. Talk about a good screwing. Now, a dozen other countries are facing the same problem.
But wait. What are the alternatives. The banks threaten to crash the economy if the state doesn't follow their orders. Well,,,, if the state is already crashed, tell the banks to shove it.
The banks have a real nice game going. If some client threatens to default, all the other banks gang up on them to insure that they suffer tremendously rather than default.
What if some country breaks ranks successfully? Argentina has done that. They told the banks and the IMF to shove it. They printed the "debt free money" that is the key to escaping the grasp of the banks.
http://www.globalresearch.ca/index.php? ... &aid=16643
Hard times make for hard measures. If a country is collapsed anyway, they should follow Argentina's example. They'll have the same pain but far better long-term prospects. As each country collapses and renounces the IMF, they can support each other. ALBA in Latin America is already doing barter between countries.
Why do you think that Venezuela gets such vitriolic coverage in MSM? The less that a country uses banks, the more control they have over their own destiny.
Churchill said that war was declared on Germany only because they threw out the bankers. Someone else said that the world war could have been prevented by executing 100 bankers. NOW would be a good time to break free of the 'hidden hand"
Here's a video that I posted on another thread. It explains the very basics of the problem in astounding clarity;
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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can't sit still
- Posts: 4645
- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
Well, obama just made it official; unlimited support for Fredi and Fannie. That means that he will have to do the same for FHA and FDIC.
http://www.washingtonpost.com/wp-dyn/co ... 01588.html?
The pendejos in congress just raised the debt ceiling to $ 12.4 trillion or something like that. That amount won't even come close to what the GSEs and banks will need when the second wave hits. We all know that the second wave will hit because Geithner has officially denied it. http://globaleconomicanalysis.blogspot. ... risis.html
Jim Sinclair does a great interview where he explains that DC is operating on a certain business plan. That plan is to rig the perception of the economy rather than the economy itself'
http://www.kingworldnews.com/kingworldn ... clair.html
There is nothing that can be done about the economy as long as the current zoo of greedy banksters are running the show. They only have one game plan; manipulate the perception of the economy to protect the bond markets. GOV is auctioning off $ 117 billion in bonds this week. GOV needs to come up with $ 1.6 trillion in the next quarter,,, at the minimum. This is just for rollover.
As long as investors continue to buy enough bonds, there won't be a default.
When/if bond auctions become stressed, there could be a rush to the exits. That would result in a freeze of the stock markets and banks. It wouldn't be very effective if there were a warning. We've seen insiders at financial institutions doing a LOT of selling of their own stocks. That could be a sign of fore-knowledge of a freeze. Dunno.
A big freight hauler, Arrow Trucking just collapsed,, apparently. Checks bounced and fuel cards didn't work.
http://www.mibz.com/3745-arrow-trucking ... uptcy.html
Is this going to be the model for GOV? NO warning, just shut down everything?
The minute that a bond auction falters, confidence will be gone. Everyone knows that US bonds are a Ponzi scheme,,, just like social security. It's only new investors who can imbue value to existing bond holder's paper. By raising the debt ceiling, they [we] need to find a LOT of new investors.
The banks are running the show. The banks have proved that they will ALWAYS let greed get in the way of prudent management. That would imply that our economy is not being managed in a prudent manner. I know, it sounds simplistic. But, we're in deep do-do. We need GOOD management. If default is inevitable, sovereign investors are just waiting for a stampede.
Credit card defaults are at 10%. $ 1 million and above mortgages are defaulting at 10%
The reset date on option-ARMs is being pushed ahead. Prime defaults are about 7%.
GOV is going to be very busy rescuing FDIC. Bond sales will probably falter when the banks are too weak to get up off the floor. A perception of weakness will probably precipitate a bank holiday.
I dunno. You decide for yourselves. Watch the treasury bond auctions.
http://www.washingtonpost.com/wp-dyn/co ... 01588.html?
The pendejos in congress just raised the debt ceiling to $ 12.4 trillion or something like that. That amount won't even come close to what the GSEs and banks will need when the second wave hits. We all know that the second wave will hit because Geithner has officially denied it. http://globaleconomicanalysis.blogspot. ... risis.html
Jim Sinclair does a great interview where he explains that DC is operating on a certain business plan. That plan is to rig the perception of the economy rather than the economy itself'
http://www.kingworldnews.com/kingworldn ... clair.html
There is nothing that can be done about the economy as long as the current zoo of greedy banksters are running the show. They only have one game plan; manipulate the perception of the economy to protect the bond markets. GOV is auctioning off $ 117 billion in bonds this week. GOV needs to come up with $ 1.6 trillion in the next quarter,,, at the minimum. This is just for rollover.
As long as investors continue to buy enough bonds, there won't be a default.
When/if bond auctions become stressed, there could be a rush to the exits. That would result in a freeze of the stock markets and banks. It wouldn't be very effective if there were a warning. We've seen insiders at financial institutions doing a LOT of selling of their own stocks. That could be a sign of fore-knowledge of a freeze. Dunno.
A big freight hauler, Arrow Trucking just collapsed,, apparently. Checks bounced and fuel cards didn't work.
http://www.mibz.com/3745-arrow-trucking ... uptcy.html
Is this going to be the model for GOV? NO warning, just shut down everything?
The minute that a bond auction falters, confidence will be gone. Everyone knows that US bonds are a Ponzi scheme,,, just like social security. It's only new investors who can imbue value to existing bond holder's paper. By raising the debt ceiling, they [we] need to find a LOT of new investors.
The banks are running the show. The banks have proved that they will ALWAYS let greed get in the way of prudent management. That would imply that our economy is not being managed in a prudent manner. I know, it sounds simplistic. But, we're in deep do-do. We need GOOD management. If default is inevitable, sovereign investors are just waiting for a stampede.
Credit card defaults are at 10%. $ 1 million and above mortgages are defaulting at 10%
The reset date on option-ARMs is being pushed ahead. Prime defaults are about 7%.
GOV is going to be very busy rescuing FDIC. Bond sales will probably falter when the banks are too weak to get up off the floor. A perception of weakness will probably precipitate a bank holiday.
I dunno. You decide for yourselves. Watch the treasury bond auctions.
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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can't sit still
- Posts: 4645
- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
I did mention that job # ONE for GOV is to preserve the bond market. Here is a pdf that is very interesting. Sprott and Franklin go a long way towards proving that GOV is lying it's ass off about the amount of bonds being sold. GOV attributes more than a $ half trillion in bond purchases to "households" Sprott points out that households can't even pay the rent. Where would US households get $ 509 billion.
http://www.zerohedge.com/sites/default/ ... cember.pdf
The other big buyer is the FED,,, with "money" freshly grabbed out of thin air. It appears that the majority of bond buyers have deserted the market.
I really don't see any way for GOV to print up enough money to cover all the things that are presently, supposedly being funded by bond sales.
Williams, who really knows his stuff, says that we're long past the point of no return.
http://www.fairfieldweekly.com/article.cfm?aid=16014
I think that it is time that y'all started to take this seriously. AS Williams pointed out, electronic money can vanish in an instant.
http://www.zerohedge.com/sites/default/ ... cember.pdf
The other big buyer is the FED,,, with "money" freshly grabbed out of thin air. It appears that the majority of bond buyers have deserted the market.
I really don't see any way for GOV to print up enough money to cover all the things that are presently, supposedly being funded by bond sales.
Williams, who really knows his stuff, says that we're long past the point of no return.
http://www.fairfieldweekly.com/article.cfm?aid=16014
I think that it is time that y'all started to take this seriously. AS Williams pointed out, electronic money can vanish in an instant.
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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can't sit still
- Posts: 4645
- Joined: Tue Aug 23, 2005 4:21 pm
- Location: SoCal
Here's another article about the bond market.
http://www.zerohedge.com/article/brace- ... ld-or-else
For those who aren't keeping track of all the minor details, here's a short rundown.
The FED was/is printing up hundreds of billions to buy bonds.
GOV faked $509 billion in bond sales,, supposedly to "households"
After march of next year, the FED is refusing to print more magic paper.
"Out of the $2.22 trillion in expected 2010 issuance, $200 billion will be absorbed by the Fed while QE continues through March. Then the US is on its own: $2.06 trillion will have to find non-Fed originating demand. To sum up: $200 billion in 2009; $2.1 trillion in 2010
GOV was able to sell bonds [legitimately] in 2009 for $200 billion.
Next year, it has to sell $ 2100 billion.
http://www.zerohedge.com/article/brace- ... ld-or-else
For those who aren't keeping track of all the minor details, here's a short rundown.
The FED was/is printing up hundreds of billions to buy bonds.
GOV faked $509 billion in bond sales,, supposedly to "households"
After march of next year, the FED is refusing to print more magic paper.
"Out of the $2.22 trillion in expected 2010 issuance, $200 billion will be absorbed by the Fed while QE continues through March. Then the US is on its own: $2.06 trillion will have to find non-Fed originating demand. To sum up: $200 billion in 2009; $2.1 trillion in 2010
GOV was able to sell bonds [legitimately] in 2009 for $200 billion.
Next year, it has to sell $ 2100 billion.
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
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Deb Prothero
- Posts: 1998
- Joined: Sun Aug 14, 2005 9:53 pm
- Location: St. Thomas, ON, Canada
- Contact:
CSS thanks for that summary. Now, can we surmise who on earth is capable of buying those bonds? There certainly isn't that money in households. The Chinese probably aren't interested in buying any more - or at least not that high an amount. The Europeans are struggling themselves, as are the Japanese.
Who has any capability?
Who has any capability?