Stacy Summary: First, @mike, dude, lay off the weed! Ha ha. Wow, you were on quite the ranting rampage last night. Now, onto the headlines, I know Ambrose tends to exaggerate, but China is looking to me like it might be the ‘stimulus’ for the next leg down on this ongoing collapse of the global ponzi scheme. Which brings me on to the next headline that the ‘stimulus is working’ . . . unless you exclude the government’s fake money which is only a transfer of wealth from the future to today. And, that, brings us to the final bizarre headline about pirates seizing a Russian cargo ship. The real world is sinking into a Mad Max like crazy place of pirates and fake pirates. So the question is . . . anyone seeing signs of the ‘stimulus’ working at street level??
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Boycott coke, no probs boycott mars …dunno I do love a bounty…mr christian
http://www.youtube.com/watch?v=qSkCy1MvICM
Home Price Declines Accelerate in Second Quarter http://tinyurl.com/mvebfx
“The vaults of Credito Emiliano SpA hold the pungent gold prized by gourmands around the world — 17,000 tons of parmesan cheese.
The regional bank accepts parmesan as collateral for loans, helping it to keep financing cheesemakers in northern Italy amid the worst recession since World War II. Emilia Romagna-based Credito Emiliano’s two climate-controlled warehouses hold about 440,000 wheels worth 132 million euros ($187 million).
“This mechanism is our life blood,” said Giuseppe Montanari, 65, a cheese producer and dealer who uses the loans to buy milk. “It’s a great way to finance our expenses at convenient rates, and the bank doesn’t risk much because they can always sell the cheese.”
“So precious is the cheese that each 80-pound wheel, worth about 300 euros, is branded with a serial number so it can be traced if it is stolen. Thieves tunneled into one warehouse in February and made off with 570 pieces before they were apprehended by police.
“Thank heavens we caught the robbers before they grated it,” said William Bizzarri, 58, who manages the cheese vaults.”
FROM: Cheesy Collateral Keeps Italian Credit Flowing Amid Recession http://tinyurl.com/mlsdw9
“Paulson & Co., the hedge-fund firm run by billionaire John Paulson, bought Goldman Sachs Group Inc. and Bank of America Corp. stock in the second quarter, while adding to stakes in gold companies.”
“Paulson became the largest holder of Johannesburg-based gold producer AngloGold Ashanti Ltd. after buying 40 million shares to end the quarter with a 12 percent stake. He also increased his stake in Johannesburg-based Gold Fields Ltd., becoming the third-largest owner of its U.S.-listed shares. ”
“Paulson reduced his stake in Market Vectors Gold Miners ETF, a fund that mirrors moves in the Amex Gold Miners Index, after selling 11 million shares. He owned a 5.3 percent stake in the fund in the second quarter valued at $227 million, down from 15 percent in the first three months of the year.
Paulson left unchanged his 9 percent stake in the SPDR Gold Trust, an investment fund that buys gold bullion, and a 4.4 percent stake in mining firm Kinross Gold Corp., according to the filing. ”
FROM: John Paulson Hedge Fund Buys Banks, Boosts Gold Stocks, Filing Shows http://tinyurl.com/pukjwv
zmoore, I don’t think “hyper-deflation”…”for America for a long time.” is possible. This would mean a greatly increasing willingness for the world to give a bankrupt nation, people, and system, things of real value for their currency, for a long time. Just doesn’t make any sense to me.
Eventually some money velocity will be triggered, and the hyper inflation will begin. This is unlike people’s denial of say Sept 11th’s controlled demolitions in that people can actually do things with both minimal risks and considerable effects on their own lives. Therefor a wave of people could be triggered to actually seek lasting tangible value for their digital and paper money, all at once. In my own market of Canada for example, the threat of an Amero could be such a trigger. The dollars competing for limited goods in a system that is managed with light inventory by monopilists, would create instant shortages and inflation.
“The trade gap widened 3.8 per cent in June to $27bn as the US imported more oil at higher prices.”
FROM: US trade deficit grows on oil prices (The Financial Times) http://bit.ly/WMbrz
So there are many ways the US economy could ket the final kill:
- (hyper) Inflation
- Higher Oil prices
- Even higher defecit
- Higher interst rates
- Wars (Iran, Russia) street of Hormuz getting closed by somebody the US or Iran maybe even China.
- The Flu or a new vey deadly New Flu
- Everybody leaving the dollar at once in an hurry
@zmoore
Undeed why would ZB say that? Afterwards he even says, and I should have put it in otherwiss watch the Video clips yourself “But we won’t do that” as if it was a serious option and he wants to reassure the public? http://tinyurl.com/poxbjp
Indeed everybody turned on the printing presses. What I still don’t fully understand is that this extra money, until now, was only used to prop up the bangtsers balance sheets so it doesn’t go into the street economy directly. Vew money is loaned to mainstreet so that some of this money is used to replace the toxic assets on the banksters balance sheets but only partly cause this debt is simply to huge even with the $24 trill.
Inflation takes at least 3 years after the money supply has been increased which not everybody realizes and a positive multiplier which means that the money has to flow before this can happen.
Biggest preoblem will be the American deficit and the interest rate which has to be payed over that.
My prediction is still first Deflation (happening right now) after which Inflation causing deflation afterwards again.
FED says now they wonna raiseinterest rates round October which will cause an other disaster. Bank Holiday is becomming more and more likely.
Fed Treasury Buying to Slow Before Ending in October http://tinyurl.com/n54uq5
Re: Z. Brezinski’s comments.
Here on MK there has been much discussion about NWO and control of the masses by fatty food, fake or meaningless news, corrupt or wishy washy media, evil banks, gold manipulation etc. Oh and don’t forget the stupid bought (pharma/oil etc) politicians.
Why would ZB say it is easier to kill people than control them if we are being controlled as the above?
On a different topic I have been wondering (for a long time) about the difference between the world views of Mish (deflation) and Schiff (hyper-inflation).
Now I’m starting to get his view, Mish offhandedly in one interview said that the countries external to US know that US would print tons of money to get out of debt, i.e. debt to China etc. Traditionally it is by inflation countries get out of problems of external debt and at the same time make their manufacturing sector more competitive.
He said these countries will turn on their printing presses to match the US so that the US won’t get away with the gambit. This is why he believes in hyper-deflation,not inflation for America for a long time.
Fed to Hike Rates to 7% by Mid-2011: Strategist http://www.cnbc.com/id/32372518
http://thomsonreuters.com/content/PDF/scientific/pharma/wimtbs.pdf
Who’s making the biggest splash? Quarterly review of scientific literature on drugs & therapies (Pharma Matters report)
Without a doubt this move was a manipulated Greenspan PUT of which Goldman Sachs has made a killing. I was hoping the new administration would of started off a new foot without Goldman Sachs. Anyway it make me mad as hell but if your a investor trader looking at previous Greenspan PUT action this will carry for a fairly long time. How the dollar will fair who knows. THE BIG THINK TO KNOW IS YES THIS WAS GOVERNMENT MANIPULATE via Goldman Sachs
Truth About Markets please
Before I get Goldman Sachs on your ass!
Zbigniew Brezinski “Today it is infinitely easier to kill a million people, than to control a million people.”
“And these new and old mayor powers face still yet another novel reality in some respects unprecedented.
And it is that while the lethality the lethality of their power is greater than ever.
Their capacity to oppose control over the politically awakened masses of the world is at A historical low.
I once put it rather bundchendly and I was flattered that the British foreign secretary repeated this, as follows;
Namely in earlier times it was easier to control an million people literally it was easier to control an million people than physically, to kill a million people.
Today it is infinitely easier to kill a million people, than to control a million people.
It is easier to kill than to control.
(Brzezinski breaths-sniffs true is nose inside; sniffffff)
And of course that bears directly on the use of force particular by societies that are culturally alien over other societies.”
FROM: Zbigniew Brzezinski Chatham House Speech Nov. 2008 http://tinyurl.com/poxbjp
@Maybe you can pick the best highlights out of this?
German Bundesbank Puts Gold Reserves in US (in German)
http://www.worldgoldbook.de/blogs/teamblog/deutsche_goldreserven_lagern_in_new_york.aspx
http://HUFFPO.ST/cwP – Bachmann’s son joins program she called a “re-education camp”
Point being: THE DON’T NEED HUMANS ANYMORE FOR LABOUR!
UK scientists are developing intelligent harvesting to save thousands a year. http://bit.ly/1bDsZq
Americans blame themselves, the Dutch blame others http://tinyurl.com/l336vt
I was “Mike” before, I’m not the Mike who writes so much.
so now i guess I’ll have to call myself old Mike!
link to catherine austin fitts interview on veritas
http://www.viddler.com/explore/webeufobeliever/videos/7/
great stuff
MAYBE OUR LAWS DON”T APPLY TO GOLDMAN SACHS
Somebody please start a trillion dollar class action law suit against Goldman Sachs. I’m sure you wont have any problems finding backers
Hmm, stimulus working?
Well the minority Conservative government of Canada just sent me a leaflet with an endorsement by the IMF of their handling of the crisis. According to this same IMF whose policies were instrumental in the gutting of Argentina’s economy and the eventual knocking of 13 zero’s from their currency, Canada’s response was “Large, timely and well-targeted”.
Wow! That makes me feel so much better!
Bankruptcies double in the Netherlands: The number of businesses gone under has doubled to 3,500 in the first s.. http://bit.ly/En7zM
Why would or government be so stupid as to give a trading company that much money and not realize that is illegal
Robots Trained To Fire On People http://tinyurl.com/krbc8f
In the Derivatives market these clowns (Goldman Sachs) made maybe HUNDREDS OF BILLION
Talk about insider trading Goldman Sachs should be prosecuted to the fullest extend of the law. They had no right using government money to manipulate the market in a unfair manner to other market participants!! DON”T WE HAVE LAWS IN THIS COUNTRY!
@Max … “Usury Has Been Neutered”
( thanks to the exponentials = math dictates )
Great line , good article, thanks.
@norcalkid – thanks for that story; I’m really sorry to hear about your medical bankruptcy, imo, it’s totally absurd there that that can happen, most people in Europe look on in horror
@mike – maybe it is time to head to Tijuana and pick up some valium??
@norcalkid …. Welcome !
” also occasionally interesting financial articles to be found in English at the Asia Times website.”
I find the Asia Times pretty good … gives you an insight into how they see us … and IMO probably more objectively than we see ourselves.
Think of how sleazy of a move that was from government Goldman Sachs They had billions of government bailout money they sat and waited until the puts added up then ran this market thru the roof with government money this fucken shit has to stop Goldman Sachs has to go. I would much rather see us go thru a depression then have those assholes controlling this country
A view from the bottom…
I have been through medical bankruptcy and the loss of my husband to complications of diabetes (renal failure). I now live on the generosity of my family (~$600/mo) and food stamps, while I try to put my life back together. I am fortunate, however, that my mortgage payment is very small, even cheaper than rent.
I have been a fan of M&S since 2007, and have seen this disaster approaching. Down here on the ground, I think some of the poor are “getting it,” even if they can’t put a name to the problem. There is a general feeling of unease out there; they know the minimal safety net is being unraveled, day by day. They are hanging on, fearful of what will happen next, and know that ultimately, they (we) are screwed. The rural county I live in has an “official” unemployment rate of 16% (probably really over 30%).
I begin to understand what the Roman common people felt as they watched their world slowly descend into chaos. I have no money to buy gold, but I have been slowly stocking up on non-perishable foods, and have planted a garden.
Oh, and I am another of the German speakers here. I have Deutsche Welle up as one of my RSS feeds and just added FAZ to my bookmarks. There are also occasionally interesting financial articles to be found in English at the Asia Times website.
http://www.financialsense.com/Market/kirby/2009/0810.html
What good is APPLES stock at 1000.00 if it cost 20.00 for a happy meal at Mcdonalds
JIM ROGERS saw the writing on the wall he moved to Singapore
@ Survey for Everyone…..
What’s the fed going to say?
P.S. Bernanke: Please try not to crash the Chinese stock market.
@Mike
The government preys on people’s erroneous belief that if the stock market is up then all is well.
If I had enough money I could get a bear to learn the waltz….. I’m sure it can’t be that difficult to get a bunch of testosterone junkie pit traders to buy some stocks.
I’m starting to think the dollar isn;t going to rally it’s going to crash just like MAX said
Transparency all I can say is nobody wants to invest in anything if they can see whats going on from all angels PERIOD
I think it’s time that they did a WILL IT BLEND… THAT IS THE QUESTION.. with the TARP
http://www.willitblend.com/
@Mike , Off Topic — > If you think “you” have problems, read this :
My elder sister is jinxed it seems.
She went to Bermuda to rent yacht with her sailing friends.
They were out at sea and the propeller fell off ( rarely happens ).
The boat started takin on water, and as there was no wind, they used the rubber-dinghy with the outboard motor to tow it back to port.
Just as they were docking, the yacht finally sank !
She went on another trip with them to cross the English channel.
The storm was so bad , they all became sea.sick .
When my sister awoke, she was back in port on the English side.
Her boyfriend hasn’t spoken to her since.
She then went out with us in “our” car while we were in the UK .
Immediately, we heard strange noises from under the car – as if we had a flat tire.
( I asked her how much she weighed .. didn’t get a response )
This persisted , and a visit to a local garage still couldn’t find a reason.
To keep it short – the next day , we were out again – without my sister this time.
The strange noise has never been heard again since !
The probability of this recent up aren’t probably at all this was a impossible move Trillions of DOLLARS added to the us STOCK MARKET IN A COUPLE OF WEEKS
@ mike party time mate , time to hit the dance floor ! surfs up ! http://www.youtube.com/watch?v=EO_pOYfsJk4
@NicAbbo77 … LOL .. great stuff !
I have a video of a massive tanker being sunk by a wave … it went down in about 5 seconds. Really horrifying .
It was an Atlantic gale and a R.A.F. Nimrod (IIRC) was out answering their SOS. They were filming and talking to the captain when a GIANT wave just engulfed the whole tanker – lengthways” . As I said the wave completely engulfed it from bow to stern .. and it was just “completely gone” ina few seconds !
It’s a scary thought a 100% government manipulated stock market.
It’s a scary thought a 100% government manipulated stock market.
It’s a scary thought a 100% government manipulated stock market.
It’s a scary thought a 100% government manipulated stock market.
Nah, this surfer is braver.
http://www.youtube.com/watch?v=Z12pEG2aAeA&NR=1
@Mike … just relax, like this guy —-
Worlds biggest wave ever surfed
http://www.youtube.com/watch?v=7nS_aR8XX_U&feature=rec-HM-fresh+div
http://www.lewrockwell.com/anderson/anderson262.html
Interesting for two reasons. One, the over-arching power given to federal prosecutors. Two, the fact that they aren’t using these powers to prosecute banksters and Goldman boys or AIG dudes and dudettes…
NO LONGER SHOULD FED BE ABLE TO DO WHAT EVER ITS WANTS BEHIND CLOSE DOORS WITH GOLDMAN SACHS THE PEOPLE WANT TO KNOW WHAT THE HELL ARE YOU DOING!!!!
Goldman conundrum or delusion: How can you expect these guys to represent us in government when they seem to have a greater allegiance to themseves?
This guy is accomplished and has integrity–
Wednesday – August 12
La Fraternité de Goldman Sachs
http://www.deanlebaron.com/index.html
YOU KNEW WHO GOT THERE HANDS ON THAT OTHER HALF OF TARP MONEY GOVERNMENT GOLDMAN SACHS THOSE BASTARDS THEY NEED TO GO DOWN!!!
LET AUDIT THE FED TODAY WHAT THE FUCK ARE YOU DOING WITH OUR MONEY!!!
@ Mike
Easy buddy…… how ’bout you channel some of that rage into something productive!
@ Scott from Oregon
Nice relaxing video. I like how towards the end of the song. instead of the usual “got to fulfill the book”, he says “do something”.
Nice 12 string…. I happen to own one myself.
@Serena .. Naked Short Selling … yeah , old news of course.
And the SEC even arrested 1 person last week … first time in over 10 years AFAIK !
Big deal .. just another “Martha Stewart” decoy .
My guess is that the whole criminal WS ponzi scheme is a complete mess and sham … thanks to owning shares becoming meaningless when you can just print them anyway.
SCREW THE FED AND GOLDMAN SACHS WE WANT A FREE COUNTRY WITH AFREE FUCKEN MARKET!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
YOU FUCKS GO FUCK YOURSELF
http://www.youtube.com/watch?v=h75TNIkZ9PI&eurl=http%3A%2F%2Fthemessthatgreenspanmade%2Eblogspot%2Ecom%2F&feature=player_embedded
TARP ing poop.
Max, Stacy Have you been to this blog? Very interesting blog and very interesting two videos at the end.
http://futurenewstoday.blogspot.com/2009/03/phantoms-of-stock-market.html
For Sharon
http://news.bbc.co.uk/1/hi/england/8197440.stm
Mike
http://www.youtube.com/watch?v=ci7r_ayacVc&feature=player_embedded
Speaking of pirates and too much pot…
@francis snoot: Say what about us countercultual American heroes????….or semi-anarchists??
@Phil:
I get the feeling the Anglo/Saxon ( financial & political ) “axis” is distrusted by the rest of the world !
That would be Anglo-Dutch wouldn’t it?
The Germans and French are now noble elites?
@ Phil
I think Stacy speaks French…. but…. I don’t think Max does. I mean this is what I can gather from listening to WAY too much Truth about Markets.
Well Max…. do you speak French?
My new video on Gordon Brown (in honor of Brown’s Bottom):
http://www.youtube.com/watch?v=ArPZkULSnqw
Re: “Pirates” woo hoo,……what a crock! nuff said.
sent to me from Thomas G.
I wonder if this is the early, creeping beginning of something like the Bexhill-on-Sea “refugee” camp featured in the film ‘Children of Men’!?
POLICE ‘GESTAPO TACTICS’ OVER TERRORIST FEAR AT LABOUR CONFERENCE
12 August 2009, Daily Express
POLICE plans to quiz thousands of people in a seaside resort to check they are not terrorists were branded “Gestapo-style” tactics last night.
Squads of officers will carry out door-to-door interviews to weed out potential threats to the Labour Party Conference in Brighton next month.
Home owners and workers will have to produce passports, birth certificates, driving licences, proof of employment, and even provide the names of referees to show they are of good character.
They will also be quizzed on their religion to see if they have connections with Muslim fanatics. Critics said the “Gestapo” tactics were another sign that Britain is lurching towards an autocratic state.
Guy Herbert, of campaign group NO2ID, said: “A door-to-door search for those whose papers aren’t in order is the sort of thing that in the 20th century only the worst dictatorships did.”
Senior officers say the exercise, codenamed Operation Otter, is necessary at a time of heightened international security. But it has been met with outrage from local residents. Pharmacist Stephen Carville, 42, said: “Asking us whether we have any links to terrorists is a breach of civil liberties.”
During the conference, from September 27 to October 1, police will seal off a secure “island site” around the Brighton Centre, Hilton Metropole, Grand Hotel and Russell Road car park.
Letters have already been sent to businesses and homes which will be affected.
Superintendent Grenville Wilson of Sussex Police said: “It’s so we know who’s living within the area.”
http://www.express.co.uk/posts/view/120017/Police-gestapo-tactics-over-terrorist-fear-at-labour-conference
“Our greatest fear is NOT that we are inadequate. Our greatest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, who am I to be brilliant, fabulous, gorgeous, talented? Actually, who are you not to be? You are a child of God. You’re playing small doesn’t serve the world. There’s nothing enlightened about shrinking so that other people won’t feel insecure around you. We were born to make manifest the glory of God that’s within us. It’s not just in some of us. It’s in everyone. And as we let our own light shine, we automatically give other people permission to do the same. As we are liberated from our own fears, our presence automatically liberates others.”
Yeah the recession is over, that’s why the city I live in has a 10.9% unemployment.
Stimulus has not touched us here either.
@aNewEraBegins .. “MSM in fidderent countries”
Yes .. a good point .. and I watch all the time.
MotherEarth is from Holland which is good for the mix.
I presume M&S can speak French.
A few German speakers here as well .
I get the feeling the Anglo/Saxon ( financial & political ) “axis” is distrusted by the rest of the world !
Anyone in the US noticed the proliferation of new banks lately with names I never heard before? Also Chase is now a bank to serve us. Have the ptb decided how to cut the corpse up for their flesheating banking bodies? Is there a bank holiday coming?
What is this? Dollar devaluation imminent?
http://www.jpost.com/servlet/Satellite?cid=1249418575155&pagename=JPost%2FJPArticle%2FShowFull
@BlackDouglas:
Good god! Who told you we had money?
What we have is “opportunities” to bend over and let Geinther et al have their way with us.
The US has decided to try to bullshit its way out of the Great Depression 2. Duh, thats what caused the first depression- not fixing the REAL problem i.e. capital concentration.
Has anyone here noticed that nobody talks about those pesky “TOXIC ASSETS” anymore? What happened to them? The swept them under the carpet and are using this bear market rally to raise equity.
The gov. is making it worse for example, cash for clunkers is a fraud. Right now they’re destroying thousands of perfectly fixable used cars. I CAN’T AFFORD A NEW CAR at all, so they are reducing the supply of available used cars so that I PAY MORE for a shitty car. Meanwhile they’re restarting producing of more new cars that nobody can really afford. So in 6 months there will be even more excess supply and NO demand.
BTW Stacy, I’m a photojournalist living in the US. I’ll send you some images of the carnage. The only people making money are the “FOR SALE” sign manufacturers. I’m thinking of making a collage of Bernanke’s face made of thousands of real estate for sale signs. Like that one of George Bush made of dead soldiers
@anewerabegins:
How?
While both fields have their place in modern economic discourse, it’s evident that mathematicians should not be dictating theory, but alas that is what goes on.
Why do you say this is a bad thing?
Are you referring to the derivative wmd?
@frances snoot
It’s kind of hard to keep yourself balanced. I mean most of my free time is spent trying to learn economic ideas, financial concepts etc. I mean when I first started taking notice last year – it was when I saw the $700B bail.out number and I knew that was monstrous – I knew nothing about economy and money. So then I discovered that the Austrian economists all called the crashes and bubbles right. Then I got sucked into the Alex Jones thing for a while – partly out of a sense that he was right on many things but partly because I’m a little fascinated about how people go a little fanatical when they sense a crisis. I’ve lately tended towards trying to understand the system better by getting my head round the global financial system and concepts such as FIAT currency and fractional reserve banking etc. The markets still confuse me because I’ve never used them. Another problem is the amount of jargon and acronyms.
You can’t cram all that into one conversation and no-one is going to read hundreds of obsessive emails.
I love it when Max calls them ‘financial terrorists’ because that resonates and we need to connect with the people more, no? The fightback is from economists and investors who know the game is rigged. The people out there are getting robbed and don’t know why. Those who know need to speak the same language as those who don’t or join them in poverty
I mean what’s a guy like me, whose never had any money to invest in his life, doing hanging out with you lot?
@Frances Snoot
It’s truly frightening how they teach economics these days, I know I’ve studied WAY too much. It’s amazing I can still think straight.
There are two main schools: economic theorists and math junkies.
While both fields have their place in modern economic discourse, it’s evident that mathematicians should not be dictating theory, but alas that is what goes on.
The basic problem with the full take over of the subject of economics by calculus wielding number crunches, is that human behavior in unquantifiable! Even if you can peg it down for a matter of years or months, said behavior will change. Ludwig von Mises talked about this extensively in a book entitled “Theory and History”. At that time the transformation from theory to quantative science was not yet complete, now however, it is almost impossible to study theory based economics in the US. This is great, BTW, guess the only schools that teach theory instead of strickly math?
Harvard, Princeton and Stanford. Just about every other university serves out econometrics for lunch. The elites know what’s up.
I personally haven’t decided if I’m going on to get my Phd, but if I do I will probably go to St. Gallen in Switzerland.
Will calling an administration socialist constitute hate speech?
http://newsbusters.org/blogs/noel-sheppard/2009/08/10/msnbc-anchor-socialist-becoming-new-n-word
@Motherearth:
Thanks for the flying rabbis link! Why did the mystic rabbis think taking to the air helps their chances of divine assistance? I thought god was everywhere?
@anewerabegins:
maybe the government turns capital from matter to antimatter
http://en.wikipedia.org/wiki/Antimatter
The economy is expanding, but the expansion can’t be measured by normative methods because of the government antimatter manipulations.
One of the great mysteries of economics. I’m sure there’s a PHD laurelprized-nincompoop who will explain a unified theory. Until then the government says get your shovel-ready projects out!
@BlackDouglas
If you sell bonds you take dollar bills which the government can spend. If you buy them back you create other dollar bills (out of thin air). If you seperate those streams then you basically doubled the money. Alternatively by buying back bonds you create the impression people like them, which drives up their value which enables the government to make more selling them.
The Fed can make money out of thin air by buying assets with a known value or return. Of course there is something fishy about assigning value to their own promises, but of course that is a problem for the next generation of serfs..
I’ll be hanging at the farm..get me some baguette brie and moutard de dyon
This is from the Bloomberg article about the “economy” expanding:
“The economy will expand 2 percent or more in four straight quarters through June, the first such streak in more than four years, according to the median of 53 forecasts in the monthly Bloomberg News survey”
The first line is a lie! The “economy” isn’t expanding….. however the government is definitely is!
John Pilgers latest on spin/war/ Edward Bernays
http://www.johnpilger.com/page.asp?partid=543
@BlackDouglas:
Real friends won’t call you a nutter.
The lemmings delight to cast themselves over the abyss en masse. Let them.
Lemming attacks on your person are quite unsavory.
You are not responsible for other people’s willful stupidity.
Good point Supergeek, I guess that’s all common-sense but you just need someone to remind you of it. Leadership, mmm.
On another point, can anyone explain why banks buy bonds back?
http://uk.news.yahoo.com/22/20090812/tuk-uk-britain-bank-non-comp-sb-fa6b408.html
Man.. Shamans join the mile high club… http://news.bbc.co.uk/2/hi/middle_east/8196786.stm
@BlackDouglas:
I think the globalisation debacle is set to be strengthened through UN economic reforms. The very propositions that Hudson so cleverly outlines, the extension of credit via Anglo-Dutch financially controlled institutions, with capital being siphoned by the Federal Reserve cartel into the self-same institutions, is being forwarded by Stiglitz’s Economic Reform Councel:
http://www.un.org/ga/president/63/letters/recommendationExperts200309.pdf
Stiglitz’s idea of reform for trade inbalances is to siphon money from countries with trade surpluses and direct the largesse to the IMF!
http://www.spiegel.de/international/world/0,1518,616743,00.html
The gamblers are protected by the government and the military while the savers and farmers are destroyed by vested interest groups.
Hudson terms it the “post-industrial” world. Max terms it the feudal/gulag casino economy. Great insight because the post-industrial world concept was battered about by academics quite a bit in the past few years!
sucks really
@Phil
I noticed you keeping up with the German news, huh? Natuerlich!
“75 Prozent weniger Kredite in China”
“75 percent less credit in China”
http://www.faz.net/s/Rub050436A85B3A4C64819D7E1B05B60928/Doc~EA8827CDECB8B4DC69029364A0A21A45A~ATpl~Ecommon~Scontent.html
This was the headline yesterday in the Frankfurter Allgemeine Zeitung (FAZ). They’re referring to the month to month
I didn’t see ANY Anglophile newspapers reporting the story like that (at least in the headlines).
I only speak English and German (and I can kind of read dutch), but if any of you speak some other languages I think it would be great to compare headlines. The truth is, reading the German news for a while led me to discovered how tainted the American media is. Of course when you tell that to Americans they laugh at you and then say…… “Why don’t you LIVE over there then!”
Love this place.
@Dedo
I often have thought that if I lose the ability to escape my straitjacket…you are the person I would most trust to write for me.
The article “Clear sign the stimulus is working,” is propaganda piled on the propaganda of the official figures… much like Wall Street itself is now just derivatives piled on more derivatives.
Hang on a minute…
….Propaganda Default Swaps.
What a great idea! (Even if I say so myself) You can offset any potentially bad news by buying a PDS. I’ve absolutely no idea how they’ll work but the mathematicians and computer modellers behind the scene will find a way.
Good news! I’ve just heard that Moodys et al have just given Propaganda Default Swap AAA ratings.
Expect your pension fund (if you still have one) to be heavily in to my PDSs soon.
I’m rich!
@BlackDouglas
A guy who was a regular but doesn’t post as much as before because he kinda relocated Don…used to say that the positive kinda humble approach worked for him…when he was trying to get things across.
I didn’t agree with all his opinions but he seemed to have respect for others opinions and was a very genuine bloke….so I tend to remember his vieiws more kindly than someone say that I can’t connect with…from my own experience of trying to get a point across to other people I think it is very important not to rush folks, sometimes we forget how overwhelming too much info can be for a person to absorb in one go, eveybody takes in information in different ways so you have to judge people individually… I think the most important thing is not to become too emotional….especially with your family and friends…people don’t like to go on what may be a complicated or unusual mental and emotional journey…with someone they perceive as being negatively affected by something (maybe they don’t want end like you, think you wont last the course or you may be a loser etc)
I think if you do feel the need to influence or change people..you may have to examine whether you really have the right kind of leadership qualitys and if not try to acquire them…because we don’t all have the humour, magnetism and charm of Max and Stacy.. another approach we can all learn from because after all facts alone will never do it (IMO).
Frances snoot,
Hudson was talking about de-industrialisation and neo-feudalism. The crash is causing ‘globalisation’ to unravel. There’ll be no industrial economy (without which many millions of workers will be, to the oligarchs, useless economically) except as free labour or soldiers. If the system is crashed now there’s enough oil left for the military to function.
What we are seeing is deglobalisation for profits and the military. Or am I missing something as usual?
http://www.presstv.ir/detail.aspx?id=102313§ionid=351020205
http://hugozoom.blogspot.com/2009/08/invisible-failed-coup.html
pg:
It’s working in that the only people Bloomberg considers anyone are those that are profiting immensely on the Government siphon of capital.
Working people=noconsequential
Michael Hudson echoed Max’s words concerning the neo-feudal model based on banking profits and gambling.
Globalization is about profits for corporations and the military.
@SuperGeek,….lol,..you’re a funny guy,..that’s if you’re a guy, I read you said something about your wife, but, what with same marriages an all!
I love reading your posts by the way, very insightful.
@dedo
Country…yeah…planet yeah, reality too…damn I even catch myself doing it sometimes, so as always buisness as usual….the buisness of buisness is buisness and of course we know buisness is war etc…yuck…uhhh….just thinking about such a question sends shivers down my back…forgot to keep it just off the top of my head…it went to that personal remembering bit round the back…damn trickster!
I’m living in Spain. HSBC predict 22% unemployment here next year and that’s without a global financial crash. I’m trying to get a job teaching English in South Korea. Yes, militarised but it is Asia and they do have reserves. This is my attempt at getting out of debt while I still can and having some wind behind me instead of against me..
I watched Mark Denninger getting really upset about what bank charges where doing to those who have nothing. On a lot of the investor forums people talk about getting into gold, commodities, silver, oil etc. Even I’m advising people to take cover and I can’t protect myself except for with my labour and my brain. There are a lot of people with nothing – a lot.
Another point is that people just don’t want to listen. Some do but many, especially the poorest, don’t want to listen to apocalyptic tales. You email them articles, charts, youtube clips and bleat on and on about what’s unfolding and they think you’re going mad. And some of the people who do know what’s going on are becoming hysterical.
So a couple of questions:
1) What and how do you advise the poor to do?
2) What do you do when giving advice means you lose friends and relatioships because people think that your advice is based on a nutty, internet conspiracy? (I’m basing my brain/labour strategy of relocation to Asia but I can’t explain why to friends etc.)
@SuperGeek,……..Just off the top of your head,..do you think the country you’re living in is a corporation and is run like a business, or is it happenstance?
@stacyherbert
I’m have kinda been wondering the same thing, especially after talking to mike, but more from the opposite angle….I mean how many people that post here have actually been directly or personally affected by the ‘crises’…I understand mike who posted earlier wasn’t feeling two grand…but maybe his loss was self inflicted I don’t know…I meant to ask him….and I know the other mike says buisness is slow but are any others out there?
It has become a criminal offence in the UK to refuse to incriminate yourself.. http://tinyurl.com/mtvjqu
@dedo
I’m not being funny but it was hardly a bed of roses before the 11th of the 9th…chernobyl, famine drought, wars in eastern europe, bosnia, africa iran/iraq….sorry I could go on, not a great list that is just off the top of my head….but I’m sure you get my point….anyway hope your well how’s the missus….you haven’t mentioned her for a while, sorry I’m not trying to be personal I’m just trying to undo some of that mystery you seemed to have acquired lately.
Is it me,…or is it that since 9/11 there has been crisis after crisis,…eg,.. terrorists, earth quakes, tsumani’s, floods, fires, financial collapse, pandemics, coming food shortages, water shortages,….if anyone was watching from afar, they’d think it was planned that way!! : ) Oh,.I forgot, climate change,…you know, the weather.
i dont know how they can say its working. unemployment at all time highs, people still being layed off, credit is still tight. nothing to small business, nothing to start a business. people not paying credit cards off, i still see lots of comercial property for sale, lots of empty shops and comercial buildings empty. seems all the money went to banks and they are sitting on it… i think they are fooling themselves, or trying to fool us…. it seems to be slowly, slowly, going downhill. crime seems to be going up though….. pg
MSM have started preparing the minds of sleepy Joe average, for coming food scarcity and potential rationing.
Agenda for the 21 century is coming into view, restricted travel next,..( maximum credits to reduce carbon footprint) you wait and see.
Heres what happened when Europe visited the FED to get there gold back
http://www.youtube.com/watch?v=7GSXbgfKFWg
@Mother Earth .. ” People have become less serious, less strict, while trusting others with that responsibility. We learned they can not handle it. ”
I agree … and with “others”, you mean the Govt. of course !
@Danny .. ” How much time do you think they gave them?? ”
I guess it was a type of Paulson hostage-taker discussion .
Like : “You really want the Gold? .. just ‘asking for it back’ would sink the whole financial system”
.
.
@Danny .. ” The gold might not even be there knowing the Fed! ”
I think that is the BIG question that every is wanting to know !
@Richard
theres alot has to change – we could be here all day listing them!
@ Phil
The article mentions the US asking for more time before the Germans end in the ‘hitmen to bust the comex’. How much time do you think they gave them?? The gold might not even be there knowing the Fed!
I like bringing funny news..and potential disinformation…
************************
someone says …’August 2009 is also the month that the U.S. Dollar dips into the 60′s on its path to zero, just before it get replaced by 3 different currencies before finally ending up as “Credits”
@Phil
I hope that may inspire a moral resurgence, I think we’ll see a growing realization that you need to be moraly correct to survive. People have become less serious, less strict, while trusting others with that responsibility. We learned they can not handle it..
@Danny .. Thx .
OTOH, Jim Willie ! … where did “he” get this from I wonder ?
No reference to a link in his article.
http://news.goldseek.com/GoldenJackass/1243491300.php
@Danny: That’s the short list…the structural list that needs to also be included is a mile wide and a mile long…( dissolve the concept of divine right of kings,eliminated fractional reserve banking, naked short selling, end K Street lobbying, end corporatocracy by the repeal of the SCOTUS case Santa Clara County v. Union Pacific RR ( 1886), Abolish the FED, etc., etc.,); promote onesness of all humanity, seek the end of the division caused by religeons, etc.,etc..
@Phil
Gold Panic Inside The Oval Office
http://news.goldseek.com/GoldSeek/1244050251.php
@Danny .. “Gold”
I seem to remember reading a report that Germany wanted it’s Gold repatriated ; and someone here posted that Obama had a talk with Merkel to leave it where it is .
Does anyone have a link maybe ?
“France, Germany, and Englands gold in New York”
WHOAAAA!!!!!!
@Mother Earth …. “more prostitutes”
Apparently there was a raid on prostitutes in Las Vegas a week ago . 400 under 16s were arrested .. many of them 12 yrs. old.
“They needed the money” .. apparently !
Uk unemployment hits 15 year high.
Mike
@Dazer .. Thx .. Michael Hudson is always a great listen.
“Post Industrial America”
“People are broke”
“Chase has just raised the penalty rate on CCs to 33%”
“Banksters and Landlords rule now = feudal economy”"
“FED Reserve .. that’s where Europe has their Gold holdings, they haven’t asked for it back yet”
“US acts as a creditor to 3rd. world countries whilst being the biggest debtor itself”
Mike is great !
General lawlessness makes sense due to squeezed budgets and less money for enforcement. Better buy a genuine castle.
I think we will see people desert their citizen rights. Will the US track you down based on your DNA? Will the borders close soviet style? Alcatraz sole to apply the name to the continent?
‘Stimulus effects on street level’? Vegetable gardens on the sidewalk and more prostitutes maybe..
By the way, my solar concept has interested investors and industry support. At least the sun is not owned by a bank..
Europes gold in the US
Renegade Economist in New York with Michael Hudson -
http://www.youtube.com/watch?v=ZYcIQvSAHZ8
They will be no recovery until the US starts making things. A jobless recovery is a fools errand.
§ Seize the Fed. Seize zombie banks. 0% loans for innovation/industry – nothing for speculation
§ 1% Tobin tax
§ Ban derivatives/hedge funds
§ Reinstate Glass- Steagall
§ No foreclosures for 5 years or the duration of the crisis
@Stacey .. “anyone seeing signs of the ’stimulus’ working at street level??”
No !
On the “high streets” of the UK ( that I visited over the last 2 weeks ), prices were really low, quite a few shops were “empty” i.e. gone.
Same in Germany BTW.
German MSM News last night warned about “falling prices” in German retail for the first time since the 80′s.
Can’t say we noticed that yet though !
Car prices in the UK were very low .. never seen that before.
VW advertizes on TV for a Golf at ca. 11,300 GBP … after subtracting ca. 1,000 GBP for wrecking and a further 2,500 discount from VW .
The same model in Germany costs FAR more than that – probably ca. 18,000 GBP or more.
OTOH, “other” Car Companies in Germany advertise new cars from 5,500 Euros … e.g. Citroen, Dacia etc. etc.
FWIW