The Long Cold Winter

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Post by geekster » Fri Dec 03, 2010 12:00 pm

Wow, that guy and all his socks is really bitter.
We could have pretty much all the energy we need right now without any esoteric technology.

This should be required reading for every single person in this country:

http://www.scientificamerican.com/artic ... lear-waste

This is exactly what China and India are doing.
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Post by Aiee! It burns! » Fri Dec 03, 2010 2:10 pm

[quote="geekster"]
So if they were going to spend 4.6 billion, why not put it between places where there is actually some traffic and actually put trains on it?[/quote]

You dont think it might be a test bed?

http://www.cahighspeedrail.ca.gov/

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Post by geekster » Sat Dec 04, 2010 3:21 am

Aiee! It burns! wrote:
geekster wrote: So if they were going to spend 4.6 billion, why not put it between places where there is actually some traffic and actually put trains on it?
You dont think it might be a test bed?

http://www.cahighspeedrail.ca.gov/
No, it won't be a test bed because they aren't going to install the electric lines needed to power the trains.

It is a fucking waste of money is what it is. I am all for trains. In fact, I believe the way this country should do trains should be completely different. Railroad tracks should be just like highways. The rail should be publicly owned and the rolling stock private. Anyone should be able to put a train on the tracks. You shouldn't have to own the road to haul freight or passengers.

But in any case, this is just flat out stupid. Build 50 miles of track from nowhere to nowhere without even lighting it up. It is asinine. And we don't have any of the money to do it and we are going to borrow from our kids' future earnings to build something nobody is going to use. We have people in government that are trying their damnedest to waste every penny we have and totally screw this economy.


Meanwhile:
A Chinese passenger train hit a speed of 302 miles per hour (486 kilometers per hour) during a test run Friday on a route between Beijing and Shanghai that is expected to open in 2012.

China's Xinhua News Agency said it was a record for an unmodified, conventional commercial train.
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Post by can't sit still » Sun Dec 05, 2010 6:19 pm

Geekster, it is freaking brilliant if you're the person selling railbed.
Just wait until Ca tries to promote / sell $ 4.5 billion of bonds to finance the project. Our credit rating was lower than the rating for Slovakia. NOW, it's lower than a snakes belly. :D
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Post by geekster » Sun Dec 05, 2010 6:37 pm

California reminds me of the stereotype of housewives shown in 1960's movies.

California: Hey, we are going to buy a 4 billion dollar rail system (forget that it won't actually carry a single train) for only 2 billion dollars!

Californians: Yeah, but we don't have 2 billion dollars.

California: But we're SAVING 2 billion!

Californians: No, you are SPENDING 2 billion that you don't have.

California: Well, we will just put it on our credit card.

Californians: You are already over the limit and nobody wants to give you any more credit.

California: Oh, "The Universe" will "manifest" the money, you just have to believe, your negative energy is screwing it up.

Californians: How about you make it easier for folks to start and maintain small businesses and manifest us some jobs, bitch.

California: Nice bank account you have there, it would be a shame if anything happened to it.
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Post by geekster » Sun Dec 05, 2010 7:12 pm

"Just wait until Ca tries to promote / sell $ 4.5 billion of bonds"

California has already run the standard Muni market dry and is now into the "Babs" (Build America Bonds) which are taxable and so must pay higher interest.
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Post by can't sit still » Sun Dec 05, 2010 7:21 pm

The FEDs are doing some sort of interest sharing deal with Ca. They pay a percentage of the interest on Ca bonds. That allows Ca to dig a much deeper hole.
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Post by geekster » Sun Dec 05, 2010 11:09 pm

This is really sad. A blog from an Empire resident:

http://midianranchblog.blogspot.com/201 ... e-ash.html
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Post by geekster » Mon Dec 06, 2010 12:46 am

Oh, check this out.

http://www.telegraph.co.uk/news/worldne ... tions.html

Catalonia has thrown out the ruling Spanish socialist party and gone back to the center-right. That seems to be a pattern in Europe these days.
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Post by can't sit still » Mon Dec 06, 2010 8:05 pm

Looking at a somewhat larger picture, this article is supposedly written by smart people.

"Having convened a global working group of 140 historians to consider the fate of the U.S. as an imperial power, he offers us a glimpse of four possible American (near-)futures. They add up to a monumental, even indispensable look at just how fast our indispensability is likely to unravel in the years to come. ~ Tom"

They postulate a terminal decline with a ultimate crash date of 2020 or possibly 2025. The uncertainty is generated by the unknown effects of feedback loops.
I wrote to the author to say that I believe that the timeline was too long. I believe that debt-service and bond-collapse will bring
force majeure that will enforce limitations much sooner than he postulates.
http://www.lewrockwell.com/engelhardt/e ... um=twitter
BTW, the Council of Foreign Relations has come out an publicly said that America is toast;
http://www.marketoracle.co.uk/Article24771.html
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Post by geekster » Mon Dec 06, 2010 9:53 pm

I don't know. The US has been through several financial collapses. Several depressions, several panics. This one will pass, too, but not until we get this current crop of incompetents out of office.

For example, just today Obama says he wants to reduce the social security withholding tax by 2%. That is sheer idiocy. He should reduce the income tax by 2% instead. 2011 is when the babies born in 1946 turn 65. Social Security outlays are going to begin to skyrocket as the first wave of boomers reaches full retirement age. He is cutting exactly where it will do the most damage. Again, it is another instance of Obama appearing to do exactly the wrong thing at exactly the worst possible time. It is as if he is *trying* to make things worse.

Calling him incompetent is being charitable, it appears that he is being malicious.
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Post by can't sit still » Wed Dec 08, 2010 6:56 pm

Geekster, I disagree. But, unlike climate change, this will play out in the next 5 years. One of the best at this stuff is "The International Forecaster". They have a track record that is hard to beat. "What you are seeing today we forecasted in 1964, but few were listening."
http://news.goldseek.com/InternationalF ... 822201.php
iTulip also has a long-range history. Martin Armstrong is a master at all this.

It is very difficult to get a true perspective on the economy. So much of the info and data is confusing or open to interpretation. Through exposure and studying, NOT through education, I believe that I have a fairly good perspective.
I believe that the effects of automation are under-rated.
"Today's American farmer feeds about 155 people worldwide. In 1960, that number was 25.8 In 1900, it was 12. "
The story for manufacturing is much the same.
Productivity has been continuously increasing;
http://www.stlouisfed.org/publications/ ... es/?id=479
"The proportion of manufacturing jobs has fallen from 30.6% of all nonfarm jobs in 1955 to 10.7% in 2005."
I'm sure that it is somewhat lower now with outsourcing.
The service economy has expanded greatly. The problem is that the service economy adds very little to our negative balance of trade with R.O.W.

Sure, the economy grew. Credit grew at 12 times the rate that employment grew.
Productive jobs consistently decreased. Service and GOV jobs consistently increased. A big part of the jobs in the non-producing economy were credit financed. So, while lots of people were working, there was ever-decreasing number of people in productive jobs. The vast majority of these jobs were supported directly or indirectly by the bond market.
Bonds must be repayed with proceeds from the productive sector. Instead, the bond market was creating jobs in the non-producing sector. There is/was a huge mis-allocation of capital into RE and service jobs. The bond holders are chasing yield in sectors that had no true yields. The yields were all supplied by credit bubbles.

The U.S. is still the # one manufacturer in the world. Manufacturing is so competitive that there is little margin. Yield is a thing of the past. The bond market is slowly collapsing. The bond holders realize that austerity will collapse the economy and their bonds won't be repaid. If GOV prints to repay them, the bonds will be repaid but, in severely devalued money.
Credit has no life of it's own,,, independent of the producing economy. Not for long anyhow. The producing sector of the economy is ever-shrinking. Proxies for wealth will shrink until they are more in line with productivity.
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Post by geekster » Wed Dec 08, 2010 11:41 pm

Should have taken my advice on the ultra-short treasuries ETF:
U.S. Treasurys plunged Wednesday, extending Tuesday's sharp losses and pushing benchmark yields to a six-month high, after a deal in Washington to extend tax cuts fueled fears of inflation and a swelling budget deficit.

The dip in prices brought some buyers to the table in an auction of $21 billion of reopened 10-year notes, which was part of $66 billion of coupon-bearing securities sales this week. Trade was volatile and prices bounced off the lowest levels of the day after the auction, which analysts said saw about average demand.

...

Given the swiftness and magnitude of the sell-off, analysts were reluctant to predict where the market would bottom.
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Post by geekster » Wed Dec 08, 2010 11:44 pm

Oh, and wheat is set to go up again. What had looked like a bumper crop in Australia may now be ruined by heavy rain, hail, and flooding. Also, as an aside, the Panama Canal is closed due to historic high lake levels and torrential rain. The rains in Panama are looking to continue for the duration of the long-range forecasts.

Also, looks like rather than grow a spine, the Democrats in Congress want to simply create a "continuing resolution" rather than actually make a budget. I think it might be the first time in history we have run an entire fiscal year on a "continuing resolution".

So Jack Murtha's earmarks get to live another year!
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Post by geekster » Wed Dec 08, 2010 11:48 pm

The US is *just barely* #1 in manufacturing. The US in 2009 had 19% of the word's manufacturing and China had about 16%. China's is growing fast and ours .... isn't.

China is expected to become #1 this year or next.
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Post by Rabbi Dali Rick » Thu Dec 09, 2010 6:16 pm

Hey! Where did all the money go?...

http://money.cnn.com/2010/12/01/news/ec ... htm?hpt=T1




Here's the part that kills me;
The Wall Street firm that received the most assistance was Merrill Lynch, which received $2.1 trillion, spread across 226 loans. The firm did not survive the crisis as an independent company, and was purchased by Bank of America (BAC, Fortune 500) just as Lehman Brothers was failing.

Citigroup (C, Fortune 500), which ended up with a majority of its shares owned by the Treasury Department due to a separate federal bailout, was No. 2 on the list with 279 loans totaling $2 trillion. Morgan Stanley (MS, Fortune 500) was third with $1.9 trillion coming from 212 loans.
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Post by Rabbi Dali Rick » Thu Dec 09, 2010 6:24 pm

Then there's always the things that they just aren't telling us;

http://educate-yourself.org/zsl/mapping ... ec10.shtml



Does this info dictate where and when we go to war?


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Post by can't sit still » Thu Dec 09, 2010 7:34 pm

Rebbi, here's a couple of quotes from the money article;
"All the loans were backed by collateral and all were paid back with a very low interest rate to the Fed"
"They may have repaid their loans, but that's not good enough,"
"Most of the special programs set up by the Fed in response to the crisis of 2008 have since expired, although it still holds close to $2 trillion in assets it purchased during that time. "

Who the fuck claims that the loans were paid back? The banks gave $ 2 trillion in worthless assets to the FED in exchange for taxpayer money. I give you a piece of gold,,, you repay me with a bucket of shit.

The price of energy is spiking. MANY of the problem loans / houses are in the sunbelt. NOBODY will buy a Mc mansion that costs $ 1200 a month to cool. Nobody will buy a house with a long commute. NOBODY wants a house that has huge heating costs either.

Zillow says that home values will drop $ 1.7 trillion just THIS year;
http://www.bloomberg.com/news/2010-12-0 ... -says.html
Do you suppose that the banks gave their best loans to the FED?
The FED is a consortium of banks. The individual banks dumped their garbage at the FED. This only bought them some time.
The GSEs are bleeding hundreds of $ billions.
The bank's ratio of debt-to-assets is about 5 times worse than it was when lehman blew

The states are in deep do-do. Ca. supposedly closed a $ 19 billion gap but, mysteriously now has a $ 28 billion gap.
http://globaleconomicanalysis.blogspot. ... udget.html

The strategy at the FED is to send dollars to EVERYBODY. They hope that; if everybody is holding dollars and depending on dollars, they won't abandon the dollar.
So, we see all the debtor countries awash in dollars and, all the producer countries shunning them.
Part of the strategy at the FED is to flood the world with dollars resulting in; so much money in circulation it HAS to stay in bonds. No other investment area can absorb the flood.
The resulting spike in commodities and energy is going to starve a lot of people. The recent wheat failures in Australia, Russia, Kazakhstan and Pakistan will make things worse.
Another fine mess you've gotten us into.
.
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Post by geekster » Thu Dec 09, 2010 8:33 pm

Rabbi Dali Rick wrote:Hey! Where did all the money go?...

http://money.cnn.com/2010/12/01/news/ec ... htm?hpt=T1




Here's the part that kills me;
The Wall Street firm that received the most assistance was Merrill Lynch, which received $2.1 trillion, spread across 226 loans. The firm did not survive the crisis as an independent company, and was purchased by Bank of America (BAC, Fortune 500) just as Lehman Brothers was failing.

Citigroup (C, Fortune 500), which ended up with a majority of its shares owned by the Treasury Department due to a separate federal bailout, was No. 2 on the list with 279 loans totaling $2 trillion. Morgan Stanley (MS, Fortune 500) was third with $1.9 trillion coming from 212 loans.
the rebbi
These reports are extremely misleading in how they are presented. For example, if I took out 100 overnight loans of $1 million each from the federal reserve, it would be reported that they lent me $100 million. Also, the news reports make it seem that the money just went down some kind of drain. The reality is that I would have borrowed the same $1 million 100 times and paid it back each time. So the reports play on people's emotions during these tough times. Be careful about how things are worded.

So if they borrowed $1 trillion over 279 loans, it might have been 279 loans of 3.5 billion, each one paid back and they never actually were on the hook for $1 trillion at any point in time.
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Post by Sail Man » Sat Dec 11, 2010 1:49 pm

Well, this helps me understand things a bit easier

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Post by can't sit still » Sat Dec 11, 2010 2:26 pm

Geekster, did you notice this item?
"Not all the major banks needed much help from the Fed. JPMorgan Chase (JPM, Fortune 500) received only three loans from this program for a total of $3 billion."
That would be like me calling up ygmir to borrow a nickel. How do we know anything about veracity in the whole mess?
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Post by geekster » Sat Dec 11, 2010 3:36 pm

can't sit still wrote:Geekster, did you notice this item?
"Not all the major banks needed much help from the Fed. JPMorgan Chase (JPM, Fortune 500) received only three loans from this program for a total of $3 billion."
That would be like me calling up ygmir to borrow a nickel. How do we know anything about veracity in the whole mess?
It greatly depended on a bank's loan portfolio and their portfolio of mortgage derivatives. I believe but might be wrong that JP Morgan Chase didn't need it because their bailout was the AIG bailout. They had most of their portfolio covered with "default insurance" by AIG.

So Morgan Chase didn't get the direct government handout that other banks got, theirs was indirectly via AIG which paid full dollar for dollar on Morgan Chase's defaulted loans. Also, the extent to which banks and other financials were exposed due to "naked" derivatives differed as well. Merrill Lynch, for example, had extreme exposure in that area and paid the price for it.
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Post by geekster » Sat Dec 11, 2010 3:46 pm

But the bottom line is that the government has still done nothing to actually correct the situation and has possibly set things up for another crash later.

There are still a lot of under water mortgages out there with adjustable rate loans. There are still a lot of defaulted loans out there that have yet to be foreclosed on. There are a lot of foreclosed properties that have been withheld from the market. So the problems are still there and have not been addressed. The last two years have been spent treating the symptoms rather than addressing the cause.

The approach the government appears to be taking is to solve the "under water" problem by inflating the entire economy. This will cause the home's price to rise above the mortgage amount but will not improve its value. So a house is priced twice as high with a dollar that buys half as much.

Home values are *still* falling at double-digit rates in many areas. The withholding of inventory from the market and releasing it in a slow drip-drip-drip is keeping prices depressed for a longer period than they need be. Had they simply foreclosed on everything and put them up on the market, there would have been a price collapse but that would work its way out in fairly short order (a year or two) and we would be back to sound loans again.

All of that said, I would say that the time to actually buy a house is approaching. This spring will probably be the time. Say, March. At that point most of the downside of value evaporation will have already happened and mortgage rates will be climbing again. So it will be a good time to "buy low".
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Post by can't sit still » Sun Dec 12, 2010 8:15 pm

Here is a technical article on debt-dollar discipline. It is part 1 of three parts. It is a masterpiece at presenting the source of the fundamental problems.
http://theautomaticearth.blogspot.com/2 ... pline.html

It is followed by several other interesting articles.

Now, here is a completely different viewpoint. You be the judge.


From: Peter Haines

DeGraw "still doesn't know the half of it. [http://poorrichards-blog.blogspot.com/2 ... ggest.html David DeGraw, "Are the Federal Reserves Crimes Too Big to Comprehend?" ]

A figure I put up in a discussion some time back after the $700B gift by Obama if I remember correctly was $13 trillion.

Being mindful of the fractional reserve system, that $700B would have created about $13-14T by creating $20 new debt $s to every $1 of equity in the $700b.

The writer asked if the Fed was the central bank of the world? He should know its not. The Bank of International Settlements is the Reserve Bank of the world and has been since its advent in the 1920s. The Federal Reserve is the dominant banking system thanks to Bretton Woods in 1944, that conference being managed by Harry Dexter White a Communist Jew in the US State Department. He would have had to have been a Bernard Baruch appointee. The Fed has stood over the world trade and economic development since world war two ( along with the Military-Industrial Complex's Cold War) on the one hand and the most powerful industrial nation ( US) on the other as it source of power and a portion of which funded the Zionist state of Israel and the UN.

The 'dollar' effectively is not a national currency nor ever was from 1944 at least, which is why US industry could migrate anywhere as they did to China. It's a global system. That's why the Dollar isnt bankrupt since its backed by ( collateral) all those indutrial complexs of all those nations it spread its money to here in the article. Remember the Marshall Plan?

Prior to World War 1 that power resided in the City of London.

On the 7th aniversary of the 9/11 epic snuff theatrics in New York, the Bank of International Settlements directed that the banks pay off the debts underlying the Dollar. The Fed has simply been complying according to plan to restructure the world financially and economically. Obama had to borrow the $700B from the Fed to pay the Fed for debts which become a 'deposit' from which the Fed ratcheted out about 20:1 new money to pay off debts behind bonds and Certs to restore confidence in those who had stored these as reserves around the world. China was quite happy to continue to accept them because the collateral was sitting in her industrial parks as well as in the US infrastructure abroad.

I am sure if one investigates Saudi investment it too would be found to be a major investor also in the same enterprise over the Bush years.

An aside to this point is the fact that China was knowingly funding the Bush crimes against humanity and the gouging at home and abroad by the military-industrial complex, as territories and resources were captured and others cowered under the threat of the same, boosting the global cartels 'mass' behind the global $ and its 'trogan forces' supplied by American and Mexican families. The current situation in Afghanistan shows this global military enforcer includes most of Europe along with local puppet govt forces, developing a single military system using Afghanistan as the live training ground, mainly against civilians, for the new world government - reformed United Nations.

Americans can hope they arent going to go through what people did over 70 years in Russia and surrounding peoples and what they put the Germans through from world war 1, a depression and a second world war to become a compliant state of the global powers. Since all these peoples were fundamentally Christian nations and that the US has been the dominant Christian nation over the same time ( this is a past tense truth) you may well find its your turn inspite of the fact the US is primarily a liberal Jewish society today.

Add to this the world tax on carbon, a fabian ( international socialism - Tony Blair was the President of the British Fabian Society, and remember how chummy he and 'conservative' Bush were!) - a fabian exercise to base world govt upon, the reformed United Nations. They have been working on reforms for years and you know all about it right, media tells us everything right,
well that money will go to the International Monetary Fund, subordinate to the Bank of International Settlements. One of the functions is to 'help' the debt drowned third and fourth nations. So once all that tax is in, and ratcheted out under the good old fractional reserve principles we can see that the banks will get paid out again regards the 'assets' they hold representing the debts of those poor nations. That's how we are going to help them, to pay back to the banks on their behalf because we have supposedly threatened life existance by our living in the west.

So the money system is backed effectively by most of the planet. It might be criminal but did that make the mafia bankrupt?
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Post by can't sit still » Tue Dec 14, 2010 7:39 pm

This is from a page of prophesies by John Koyle. I guess that he was famous some years ago for his correct prophesies. I really don't know.
"complete financial collapse. He saw a winter preceeding the mine opening where the snow would be as high as telephone polls. He called this the long, cold winter. He said this would be followed by a warm, wet, spring where severe flooding would cover the State of Utah, from one end to the other"
http://www.moneyteachers.org/John+Koyle+Prophecy.htm
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Post by 1durphul » Tue Dec 14, 2010 7:54 pm

can't sit still wrote:This is from a page of prophesies by John Koyle. I guess that he was famous some years ago for his correct prophesies. I really don't know.
"complete financial collapse. He saw a winter preceeding the mine opening where the snow would be as high as telephone polls. He called this the long, cold winter. He said this would be followed by a warm, wet, spring where severe flooding would cover the State of Utah, from one end to the other"
http://www.moneyteachers.org/John+Koyle+Prophecy.htm
All those mormons losing their theocracy. What a shame.

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Post by can't sit still » Fri Dec 17, 2010 10:19 pm

Imagine driving across the playa and seeing some fuzzy shape off in the distance. As you get closer, you are able to make out more details. The same is true for our approaching economic problems.
I am going to post links. These links are from people who have proved their ability to see further into the future than all the rest of us. You can read them. You can ignore them. Just remember that when the ostrich has his head in the sand,,, he has his ass WAY up in the air.

Shadowstats has been keeping good track all along;
http://www.shadowstats.com/article/hyperinflation-2010

Lindsay Williams has a good track record also. Here's what he has to say.
"Euro is slated for collapse soon, although at an unspecified time. Once this happens, the dollar will collapse within the next two to three weeks, wiping out tens of millions of Americans financially, presumably within a few days or a few weeks."
http://www.infowars.com/lindsey-william ... er-barrel/

Reportedly, the big banks are in a death spiral,,, lead by HSBC.
http://news.goldseek.com/GoldenJackass/1288209233.php



Jim Willie has also been right all along;
http://www.financialsense.com/contribut ... =node/2837


This is part II of debt-dollar discipline. It is a very clear explanation of why the dollar system contains the seeds of it's own destruction.
http://theautomaticearth.blogspot.com/2 ... pline.html

This is part III;
http://www.marketoracle.co.uk/Article24977.html

This is an excellent paper on the strategy of the Asians in relation to the gold market;
http://kingworldnews.com/kingworldnews/ ... _Over.html

The bond market has lost confidence. It's far too big for any country to control.
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.

verycooljdm
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Post by verycooljdm » Sat Dec 18, 2010 3:52 pm

can't sit still wrote:Imagine driving across the playa and seeing some fuzzy shape off in the distance. As you get closer, you are able to make out more details. The same is true for our approaching economic problems.
I am going to post links. These links are from people who have proved their ability to see further into the future than all the rest of us. You can read them. You can ignore them. Just remember that when the ostrich has his head in the sand,,, he has his ass WAY up in the air.

Shadowstats has been keeping good track all along;
http://www.shadowstats.com/article/hyperinflation-2010

Lindsay Williams has a good track record also. Here's what he has to say.
"Euro is slated for collapse soon, although at an unspecified time. Once this happens, the dollar will collapse within the next two to three weeks, wiping out tens of millions of Americans financially, presumably within a few days or a few weeks."
http://www.infowars.com/lindsey-william ... er-barrel/

Reportedly, the big banks are in a death spiral,,, lead by HSBC.
http://news.goldseek.com/GoldenJackass/1288209233.php


car led
Jim Willie has also been right all along;
http://www.financialsense.com/contribut ... =node/2837


This is part II of debt-dollar discipline. It is a very clear explanation of why the dollar system contains the seeds of it's own destruction.
http://theautomaticearth.blogspot.com/2 ... pline.html

This is part III;
http://www.marketoracle.co.uk/Article24977.html

This is an excellent paper on the strategy of the Asians in relation to the gold market;
http://kingworldnews.com/kingworldnews/ ... _Over.html

The bond market has lost confidence. It's far too big for any country to control.
The bond market suffered its biggest 2-day selloff since 2009. The incident provided a snapshot of what's in store when the economy begins to recover and the government has to pay higher rates to service the debt.
OMG.....

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geekster
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Post by geekster » Tue Dec 21, 2010 12:58 pm

http://rocktrueblood.blogspot.com/2010/ ... oning.html

Watch this 60 Minute piece.

This is what billions of "programs" eventually produces. We are out of money. Period. Its over. The Democrats are going to have to, like everyone else, learn how to live within their means. They have maxed out the credit card. Deficit spending won't work anymore because nobody is going to fund that deficit. Its over. Its done.
Pabst Blue Ribbon - The beer that made Gerlach famous.

can't sit still
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Post by can't sit still » Tue Dec 21, 2010 1:13 pm

The 60 minute piece was a real wakeup call. Here are 2 links by 2 people giving their view of what needs to be done. The first is Mish. The second is Iliargi doing a critique of what Mish proposed.
http://globaleconomicanalysis.blogspot. ... rives.html

http://theautomaticearth.blogspot.com/2 ... es-of.html
Here's a vid that you might find interesting.


Essentially, the world is taking sides in a tug-of-war. The wealthy want to hang on to every penny that they have. The not-wealthy want to vote this money for themselves. This is over simplified BUT, if credit grew at 12 times the rate that employment grew, there were a lot of people living beyond their means. There are / were FAR too many people in the public sector who were receiving remuneration that was way too generous considering economic reality.
The states will crash and cut off money to the cities and counties. The safety net will crash at the same time that millions more are added to the unemployment rolls.
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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