Stacy Summary: Unbelievable. And yet house prices have only fallen by 10% since the peak. Guess sellers are waiting for a recovery. LOL. But it also shows you what a wild misallocation of capital happened during the Greenspanesque cheap money era; during also the monetary union which saw Spain and Ireland have far too low interest rates; and a time during which the tax burden in Western economies was shifted away from property and capital and onto labor leading more and more into speculation for ‘income.’
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Gee, another former “empire” cast adrift for the sake of the New World Order? I won’t be shedding any tears.
@bz
Not sure about the black hair any more, but otherwise I think you may be spot on,I don’t wanna piss on a leprchuan but they don’t have celtic DandA.
I have always noticed lots of cultural similarities with northern africa!
‘They found most of the Irish DNA samples matched with those around Britain and the Pyrenees in Spain. There were some matches in Scandinavia and parts of northern Africa’
also I think the closest match to english D and A has been found to be ‘the basque people’
http://tinyurl.com/y8pktwd
Speaking of Spanish, apparently the Irish are descended, genetically, from Iberian roots. All that black hair etc.
Speaking of Ireland there was an interview on Canadian TV last night (live?) from Ireland talking to an Irish economist who said that all the Irish dept and financial troubles comes from owing money to 6 builders and about 2,000 individuals.
His suggestion/hint was that once this is recognized there would be no problem. Get or legislate or bankrupt the associate banks and the debt goes away. Otherwise the great grand children of the Irish will still owe this debt.
I.e. be slaves for three generations to two thousand others.
Can’t find clip might be here:
http://www.cbc.ca/thehour/
With their relatively strong family structure, the Spaniards will probably weather this storm, albeit with great discomfort. Social chaos is unlikely, given the consensus among Spaniards that democracy has been a good thing.
Spaniards may be burdened with massive personal debt, but their deficit is nothing compared to Britain’s or the US. It remains to be seen who will emerge the most damaged from this ongoing drama. It’s going to be an interesting new decade . . .
Sark??? Thats funny. Sounds like some unabased Mideaval hang. Maybe they have a dungeon like in “Princess Bride” and dragons too. Got the World revealed as it is is not far removed from the darkest of Fairy Tales.
@Phil:
Thanks for mentioning the odd non-violent perhaps thoughtful American entity!
@Stacy:
Yes, 30.000 feet would tend to increase courage. Also drones are a bravado booster.
@Supergeek:
Ms. Hathaway has been busy posting information for the mindless here in Florida regarding the RaceToTheTop fascist school takeovers. Tsk Tsk, hard to maintain one’s calm when one is taxed to allot ficticious funding to a program based on Bill Gate’s philosophical meanderings and profit in an effort to divert future milage class funding to Gate’s Inc. I’m sure British schools are way ahead of us on that one what with Blair’s private-public partnership ploys.
@gonzomarx …”Island fortress of Sark ”
My old “sofa” now lives in one of the few hotels on Sark .
No kidding ! Apparently we have relatives on Sark as well .. never bothered to find out though. And yes , the Barclay Brothers bought the fortress a few years ago.
The identical twin Barclay Brothers own the Telegraph Group Limited, The Business and The Spectator magazine via their Press Holdings company They have very substantial business interests in retail and property. The Sunday Times Rich List of 2007 estimated their wealth at £1.8 billion. They have earned a reputation for avoiding publicity, and are often described as reclusive. Sir David’s son Aidan Barclay, manages their UK businesses.
they live and own the Island fortress of Sark in the Channel Islands and had a hissy fit when the locals didn’t vote the way they wanted in the 1st elections ever this YEAR. till then it was an feudal
@NA
Wow robeeeht pestuuuun….unusually good piece..he’s changed a bit….I’ve never personally used the word schill but he..nevermind..I stopped visiting his bbc page a long time ago, after they kept blocking my comments(twice)…personally I don’t think they liked me trying to plug maxkeiser.com all the time…do you post on there nic?…I’m trying to remember now, if I used to see your name.
that interview max did on bbc radio was gold, haha
I like Peston, the BBC’s business editor. He tends to tell it as it is. Here’s his take on the G20 and fudging bankster bonuses.
http://tinyurl.com/yb3h4tv
Fascinating graphics on de- & increase of market capitalisation of Wall street Banks since market peak:
http://www.nytimes.com/interactive/2009/09/12/business/financial-markets-graphic.html
suppose thats a meaningless question since you only need one sympathiuzer in any one organisation theoretically…
srry for caps
Maybe ‘they’ see a world war as a fair battle and the only way to reduce the mutual population without seeming genocidal..
WHO OWNS THE TELEGRPAH?
@Stacy … ” the Geldofian feel good left wing behind them thru a genius marketing campaign of green avatars that believe as the right wing before them in Iraq that flowers will be thrown at their feet as they triumphantly bomb from 30,000 feet.”
You do have the knack of being concise and to the point .. wish I could !
@urinal@bz@frances
I have to constantly remind myself to go back and check late comments…my own fault I never was one for crash helmets!
brilliant facts about silver all new to me …Amazing!!!
@Phil – the thing so unbelievable to me is that they are following the EXACT same script! They even have a Niger yellowcake like obviously forged document thing. And it is ALWAYS the Telegraph that ‘breaks’ the story. Actually, the only thing different this time is that they have the Geldofian feel good left wing behind them thru a genius marketing campaign of green avatars that believe as the right wing before them in Iraq that flowers will be thrown at their feet as they triumphantly bomb from 30,000 feet.
@stacyherbert …”Love the way that so many Americans seem to be hellbent on another war! Truly unbelievable. ”
Yes .. the 68 protesters are now probably in Govt. today !
The American “gullible masses” love their Guns & Rambo films, their heroes, their flawed patriotism and their flawed Congress & Govt. So it is really not so unbelievable I suppose. I remember some 20 yrs. ago sitting opposite a US marine on a train going to Frankfurt. He was studying his “Gun Bible”. I tried talking to him until I discovered he had the mentality of a 10 year old. No disrespect meant to the less gullible “other” Americans of course ;-(
Dollar rise?
Mike
Spain will go bankrupt. No doubt about it. Neither the socialists nor the conservatives have a clue about what to do.
the only good thing is that both parties will have a psychological tendency to stick to the euro and thus being forces to confront reality which is what Spain needs.
From what I see out there in comments on blogs, news articles & twitter, I just love the way that so many Americans seem to be hellbent on another war! Truly unbelievable. As if the two most recent neocon wars haven’t bankrupted the country. The silence of the ‘teabaggers’ on the looming war is deafening. Don’t they get it that not one single empire in history has collapsed because they gave too much to the people! LMAO. They all collapse via war and imperial overreach. Do you really think the elites of any empire as it crumbles are going to give the shreds to the people. LMAOEM.
I might also add that there have been almost no script changes from the march to illegal Iraq invasion.
@Stacy
Where you refering to this in tomnz?
From Wikipedia:
Hysteresis is a hypothesized property of unemployment rates: that there is a ratchet effect, so a short-term rise in unemployment rates tends to persist. An example is the notion that inflationary policy leads to a permanently higher ‘natural’ rate of unemployment (NAIRU), due to the proposition that inflationary expectations are ‘sticky’ downward because of wage rigidities and imperfections in the labour market..
Maybe interesting as well:
Another concept is the catastrophic decline, which comes from population models (and chaos theory). It can be applied to any predator prey situation, so supposedly also to banker client relationships
A good example is cows grazing in Ethiopia, cows being the predator, the grass the prey. With some grazing the grass recovers and there is a balance between the number of cows and the amount of grass. If the cows happen to eat to much grass it can no longer recover and the cows are forced to eat every last strand. That ususally means the end of the cows, probably not of the grass.
It seems the cows on the economical pastures where fed from an external source, became fat and less mobile. At a certain point the grass within their reach became so little they completely depended on the artificial food source. Meanwhile the grass they could not reach was cut around them and sold to farmers a long way away. Then the traders sold more grass than they actually had (promises) that needed to be honoured and suddenly all the fat cows found themselves in empty pastures with about 20 days to live. The cutting and making of promises ensured every last strand of grass was cut, so there was no chance of a recovery. The traders tried to mix the grass with straw but that only protracted the agony. So the cows perished and the traders moved on..
Does this make any sense?
Gold hit. oil hit futures hit After lower than expected durable goods
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5uOPI10DnI8
http://www.census.gov/indicator/www/m3/adv/index.htm
@y’all
sorry bout spamming just trying to figure out a few techie things about the site…re:link below
like my most of the regulars I can be annoying
but hey…who can can question our commitment or loyalty!
http://tinyurl.com/ycmoabg
CHIPPED FOR YOUR PROTECTION AND TAXED FOR ALL YOU’VE GOT
http://www.youtube.com/watch?v=N_EbIu_TEOI&feature=sub
My favourite YT ‘er is back …. vlogolution
(Alexander Morris)
He has done some brilliant videos on the financial fraud years ago.
They are now only available on his blog :
http://www.vlogolution.com/hot/channels/passmethepork/
@all who mentioned site down last night; our host has moved us to a new server so there should be no further problems; if you do notice any, please let me know again
we all have secrets
http://www.huffingtonpost.com/2009/09/25/obama-iran-has-secret-nuc_n_299556.html
@alister
Damn…Wishful thinking..what about @ or Re: you know or a you know something that adds a bit more ‘context’ if you can’t respond any quicker…things can move fast round here…like ‘super’… plus…y’all it aint easy typing or reading while standing on your head…you know it stops the blood running out of my nose when I’m in in flow…uhh no pun intended!
What the link says is the gradient functions can not place (answer) coordinates accurately; they are relied on for directional vectors.
Does anyone know what the quant functions that the goons wrote up for the banks in the derivative schemes?
The system was only sustainable under continued growth. If those functions are gradient vector functions then the value is impossible to determine.
hey super,
no it wasn’t, it was directed at pritch! anyway i am writing an essay on the 2 chechen wars in the ’90s right now, so if anyone knows of any ultra secretive / not commonly known / acknowledged information re the two wars by all means pls link!
@FranSix:
Here is a simpler explanation of your gradient vector link:
http://www.cs.princeton.edu/~kazad/resources/math/Gradient/Gradient.htm
@Mongo:
Funny! Do you think the pyramid has flipped over on it’s pin-point and the derivatives are top-side now? Interesting because the symbol for a gradient function is an upside down triangle.
We probably fell out of the system of the flip. Plop.
@gonzomarx
huh..reminds me of Lost Angeles and Lost Wages.
Zie incredible obladi oblada:
Mugambe has been an embarrassment to the Queen. First she knighted him, then deknighted him.
http://www.foxnews.com/story/0,2933,371542,00.html
@alister
if that comment was directed at me I would suggest that would be a waste of energy…as from reading your previous comments there wouldn’t be much point as you are so much better at it than me!
yes … the type of englishman who besmirches the french no doubt
Lost Vegas
“along with hundreds of others, the couple are part of a secret community living in the dark and dirty underground flood tunnels below the famous strip”
http://tinyurl.com/mcxd6a
Al Franken Reads the 4th Amendment to Justice Department Official
http://tinyurl.com/lud45m
@y’all
I was reading a report last night
Invisible Islington: Living in Poverty in Inner London.
it said since1980 that people living below the poverty line (in islington)had gone up from 30% to 49% in the year 2000…where as the asset wealthy have increased in the same period from 1% to 20%
“Indeed Islington has seen greater changes than almost anywhere else in the country.
Of particular note has been the clustering of the ‘exclusive wealthy’, a sub-set of the
asset wealthy that accounted for 8% of households in both Canonbury and Holloway
in 2000. The extent of this cluster has led Butler and Lees to identify Barnsbury in
Islington as the only area in Britain where ‘super-gentrification’ has taken place.10
They suggest that: “A new group of super wealthy professionals working in the City of
London is slowly imposing its mark on this inner London housing market in a waythat differentiates it and them both from traditional gentrifiers and from the traditional urban upper classes.”
but on a more cheerful note…
“it explored the relation between increasing wealth and decreasing happiness in
the developed world and controversially suggested that we should make happiness,
not growth, the object of our economic policies”
because of the importance of the ‘big seven’
1. family relationships
2. financial situation
3. work
4. community and friends
5. health
6. personal freedom
7. personal values
so if sometimes I may seem a little unsympathetic to those of you who seem to be in semi first class seats…it ‘s because I am a long time islington resident (supergeek…yeah…supergentrified no!)
http://tinyurl.com/yabapdq
@min us
yeah…little sis…it was a bit annoying…I always thought I was the cool one in the family up until then!
Why are the mints making it so hard to buy bullion. Why do I have to ring them? I can buy bullion/semi- numismatics coins impersonally with my credit card not a bother but I don’t like all this bank transfer carry-on
Make sure y’all tune in to cspan today for the HR1207 hearing today. I’ve got my popcorn at the ready
@Supergeek
Hahahhahahahahaha
Thats TV Gold.
Is that your sister screaming off camera. Good on her.
Reminds me of Anchorman
Good evening, I’m Ron Burgundy…
http://www.youtube.com/watch?v=YoKAcVL_phI
@min us
you should just do what my sister did!
http://www.youtube.com/watch?v=8JKHOOFwkr4
wow! from the producers point of veiw.
http://www.youtube.com/watch?v=i8c3P5vDDxA
@Supergeek – yep it’s sunny here, though not so warm
s.herbert
anyways hope you are well and feeling peachy…we are having a little bit of an indian summer here in london…hope the nice weather is reaching you too.
@Stacy
Cool.
Is there any way we can sabotage the entire US TV network, like they used to do on Batman, so that everyone can hear the truth?
You know, an anouncement by Mr Freeze to all Americans.
Janet’s video was marked ‘Must Watch’.
Looked like she had more to say too.
Hard to prove this stuff I suppose, but just knowing it at least sparks a consciousness about the whole system.
Look forward to show.
@Mini US – we have Janet on next week’s show
Janet Tavakoli is awesome.
The smiling assassin
It makes a stronger argument when the insiders like Janet and Max explain the situation.
They are the only ones who know whats going on.
Great to see them getting their faces on the media telling people.
Great stuff. Send this to your friends, she explains herself very well.
@s.herbert
set em on max…and all the other spectakel weares frist.
@Supergeek – how about the spelling police?
s.herbert
just in case…that wasn’t meant as anything other than a weak attempt humor…so please don’t set the grammer police on me!
Repeat@Mitesh Damania .. great 60 minute video, thanks.
Janet Tavakoli, a Wall Street insider, knows exactly what happened. The greedy bad guys got away with the loot. Check out the last video which is 60 minutes long.
http://www.askbutwhy.com/2009/09/janet-tavakoli-ponzi-scheme-profits-by.html
PS: Interesting mention of Iran starting @ ca. 26 mins.
Here is a review of “Dear Mr. Buffet” from SeekingAlpha :
…Tavakoli’s book chronicles the words and deeds of people who dealt in derivatives without knowing – and often without caring – what that relationship was.
Some will call her book a morality tale. I call it a rationality tale….
http://seekingalpha.com/article/117980-on-buffett-and-derivatives-a-review-of-janet-tavakolis-dear-mr-buffett
@s.herbert
now I aint that bright only being a bottom feeder but isn’t ‘irrational hatred’ an oxymoron?
Although I would like to rename the pyramid (just posted) to “neofeodal system”
Just for your general knowledge..
U R HERE!
http://u-r-here.istheshit.net/
Last months news, but interesting to gold bugs I guess..
There have been other goings on in Zimbabwean attempt to get out their gold http://tinyurl.com/ydsdcbz
The UK was previously opposed to any gold trading by Zimbabwe, maybe now they struck a deal in return for leaniancy..
Now the country may become the one with the strongest currency on earth (a gold backed one) http://tinyurl.com/y96ctof
@alister – yes, perhaps I should always put a warning with any of his stuff as he does have an almost irrational hatred for europe so he does tend to seek out any ‘evidence’ that proves it is doomed to fail, especially if that ‘evidence’ faults Germany
@y’all
sometimes you just gotta count your blessings…cause as someone a lot wiser than me recently commented ‘luck is always around’ I suppose like a lot of things luck has got more chance of finding you when you aint looking for it!
‘
Girl 6 lucky to be alive after car miraculousy..etc’
http://tinyurl.com/y9v326c
god damnit pritchard is such a little weesle
what type of name is that anyway
Rob Kirby says gold and silver prices, as well as gold and silver volume are a complete fantasy. Ergo, the real value of physical gold could be much higher.
http://tinyurl.com/ybjmxml
Ole
In the 1970s, for each USD of Debt there was ~0.90 of GDP generated — and this GPD differential is verified as being truthful.
In the 2000s, that same USD only generated ~0.10 of GDP (and the GDP number is assumed to be misleading propaganda).
Debt of any kind in the US is not productive these days.
Samething here Stacy
Everyone waiting for home prices to recover, i do tend to upset them when i show the House prices in Japan
Mike
So what happens when you’ve finish doing your duty for Bankers, Queen and Country?
The hidden army in UK prisons: More veterans in justice system than soldiers serving in Afghanistan
http://tinyurl.com/ybqmwt7
Was the cargo ship Arctic Sea really hijacked by pirates?
http://tinyurl.com/lwjyou
Pirates, Ecologists or Spooks?
Steve Bell sums up the “Special Relationship”
http://tinyurl.com/yetgy3w
“The amount of taxes the federal government took in from the manufacturers of all firearms and ammunition in the fourth quarter of 2008, the period between Oct. 1 and Dec. 31, increased 31 percent over the same time period reported in 2007″
http://tinyurl.com/y9pbw99
Germans get closer to nature with opening of first nude hiking trail
http://tinyurl.com/yalrkvz
Morning Stacy
Gold getting hit!
……………………………but so is the £
Mike