can't sit still wrote:
jk, with no prejudice meant,,, STOP reading.
You can go about your daily life without knowing this shit.
Your take is interesting, but misses my point. It's not necessary to stop reading, but to be able to discern the credibility of the authors you choose to read. Some people read and believe the Bible too. What you say I don't know, I assert is fiction, made from the minds of the paranoid and delusional.
JK
Elderberry
When I was a kid I used to pray every night for a new bicycle.
Then I realized that the Lord doesn't work that way so I stole one and asked Him to forgive me
jk, essentially, credibility doesn't exist for future projections. One can't believe something that hasn't yet come to pass. My "measuring stick" is past accuracy.
Look at the accuracy of Krugman and Bernanke.
Look at the accuracy of GEAB 2020, Jim Willie et al.
Will Bernanke all of a sudden become right / correct?
Will Jim Rogers all of a sudden become wrong / inaccurate?
Another yardstick is parallel / previous history. In all cases, when debt passed 84% of GDP, the economy collapsed. Time will tell.
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.
can't sit still wrote:jk, essentially, credibility doesn't exist for future projections. One can't believe something that hasn't yet come to pass. My "measuring stick" is past accuracy.
Look at the accuracy of Krugman and Bernanke.
Look at the accuracy of GEAB 2020, Jim Willie et al.
Will Bernanke all of a sudden become right / correct?
Will Jim Rogers all of a sudden become wrong / inaccurate?
Another yardstick is parallel / previous history. In all cases, when debt passed 84% of GDP, the economy collapsed. Time will tell.
Yup, time will tell. I'm just glad I'm old and have no regrets.
JK
Elderberry
When I was a kid I used to pray every night for a new bicycle.
Then I realized that the Lord doesn't work that way so I stole one and asked Him to forgive me
"The powerful are exploiting people, art and ideas, and this leads to us plebes debating how to best ration ice.
Man, no wonder they always win....." Lonesomebri
...and here I thought the debt was being funded by a yak-rancher in Tibet...
Hey, Cryptofishist, if you don't want the 'ho, can I have her?
Right now, I figure there really isn't much I can do in the short term with regards to a financial collapse. My long term plans are to find some way to get off grid, anyway, since I really don't like monthly bills and would like to reduce them as much as possible. So, weirdly, this and the other threads predicting economic hard times really don't have much impact on my plans... (Maybe an up side to poverty? Okay, now I am confused, so think I will go lie down for awhile....)
"Nothing is withheld from us which we have conceived to do.
Do things that have never been done."
--Russell Kirsch
"The powerful are exploiting people, art and ideas, and this leads to us plebes debating how to best ration ice.
Man, no wonder they always win....." Lonesomebri
I think I need to get better informed on the FED. Interesting article, but I'm not knowledgeable enough to comment on it, so I don't know what the consequences of his proposal might be. Do you?
JK
Elderberry
When I was a kid I used to pray every night for a new bicycle.
Then I realized that the Lord doesn't work that way so I stole one and asked Him to forgive me
JK, the FED is a consortium of private banks that "constitute" our central bank. They print our money and charge us $ billions in interest to use it. The original idea was to screw us good. The original stated idea was to be independent of GOV so that they would have some independence to pursue monetary policy with GOV controlling them.
The FED was forced on us in 1913. 16 years later, their policies caused the great depression [1].
Much of this crash was rightly blamed on the FED. The SEC had a lot of responsibility also. I believe that the Greenspan bubbles were blown at the behest of the U.S. GOV. Worldwide competition was killing our manufacturing base. The FED blew bubbles to maintain our standard of living for a while longer.
Several years ago, the FED was tasked with the job of maintaining high employment. This is obviously impossible in a declining economy. Global wage arbitration was draining jobs. The FED printed money and GOV dispersed it to it's employees. This added money to the economy and bought jobs and loyalty of GOV employees.
The House of Representatives is where all spending bills originate. The FED regularly blames the House for all the spending. The FED prints the money. The GOV earmarks it and spends it.
True, the FED sent hundreds of $billions to foreign banks. Don't forget, these foreign banks bought hundreds of $ billions in toxic assets. The FED secretly reimbursed them for their losses,,, to avoid prosecution from Interpol.
In essence, everyone but the poor was defrauded by Greenspan's bubbles. Everyone was robbed by the resulting inflation.
In truth, there was plenty of malfeasance. BUT, much of the problem is / was from market forces. The stupid consumer is to blame for buying all the foreign manufactured stuff. The runaway greed on wall street was a big influence.
The Viet-Nam war was the first step that caused the dollar to go off the gold standard. Runaway printing followed. Things got worse as we tried mightily to expand our empire.
The projected deficit is $ 1.5 trillion but, it looks to reach $ 2 trillion this year.
The FED is printing like mad. Several years ago, Bernanke authored a good paper showing that quantitative easing does NOT work.
He knows that he is doing wrong and that it is ultimately FUTILE.
Congressman Reid proposed $ 72 billion in budget cuts but, later said that it was too draconian.
The FED is the boogeyman here but, market forces and political forces are huge factors.
Obama proved that he can't create jobs. The FED can't create jobs. Only market forces can create jobs. Shifting all the R&D and creativity into the military sector has left us stagnated. There are plenty of "drivers" for our problems. The FED is just one.
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.
I left out the part where the FED is buying up zillions of dollars of bad debt from major banks. It's an incestuous relationship between the member banks of the FED and the other powerful banks. There is a lot of dancing around on policy; http://www.philstockworld.com/2011/02/1 ... nt=Twitter
It's still gets down to spending by GOV;
"But here is the essential fact I want to emphasize and have you think about today: The Fed could not monetize the debt if the debt were not being created by Congress in the first place….The Fed does not create government debt; Congress does."
GOV has gotten WAY too expensive to operate. GOV mandates the FED to supply it with money.
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.
Why don't you ever use reputable sites for your claims? Sites like Zerohedge, Rense.com or other goofy fringe and conspiracy websites are an absolute waste of time.
"The essence of tyranny is not iron law. It is capricious law." -- Christopher Hitchens
Hate reading my replies? Click here to add me to your plonk (foe) list.
Among the aftershocks of the 9-11 attacks on America was the colossal budget-busting on "homeland security" -- a spending binge that, additionally, was thought to require something approaching uniform disbursement of funds throughout the 50 states. (Endless "what if" possibilities left no legislator willing to forsake maximum security.) Among the questionable projects described in a Los Angeles Times August review were the purchase of an inflatable Zodiac boat with wide-scan sonar -- in case terrorists were eyeing Lake McConaughy in Keith County, Neb.; cattle nose leads, halters and electric prods (to protect against biological attacks on cows, awarded to Cherry County, Neb.); a terrorist-proof iron fence around a Veterans Affairs hospital near Asheville, N.C.; and $557,400 in communications and rescue gear in case North Pole, Alaska, got hit.
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Oh yeah, this year I was totally twerping out at the fence. ~Lonesombri
Kittens. They have a cute fund. And as part of the cat take over of the world they are controlling the world economy by "innocently" standing on imp people's and bankers keyboards AT THE SAME TIME all over the world and messing with the USA economy.
This is because of the habit of USA presidents to have pet dogs. The cats are not happy.
melaniejane, you've killed nothing. All input is welcome. There is always the possibility that the cats are an over-looked factor in international relations. NEVER apologize. The understanding people don't need it. The uptight people need to be regularly harassed for their own good.
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.
can't sit still wrote:melaniejane, you've killed nothing. All input is welcome. There is always the possibility that the cats are an over-looked factor in international relations. NEVER apologize. The understanding people don't need it. The uptight people need to be regularly harassed for their own good.
Okay, now I am confused, so think I will go lie down for awhile....)
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