Stacy Summary: This week we look at the scandals behind “debt attacks” on Spain and Greece; record short positions on the euro, and whether Shanghai will be the epicenter of the next financial crisis. Keiser also talks to Steve Keen for an update on the Australian housing market, the continuing deflationary collapse and the chances of unrest.
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KR20 Very good Max.
But don’t you think that energy has a bit to do with it?
Please see: http://www.chrismartenson.com/crashcourse/chapter-17b-energy-budgeting
Maggie
@ lek
Oooooooooooo ya gotta learn how ta type
Hic
Stacy, is that the only dress you own?
@libredon
DITTO!!!
“The free market has never been allowed to work in practice” Bollocks!’
and DITTO!!!
@James,….Numbering the kids isn’t a bad idea,..but a ring through the nose would work betta ! : /
Australia thinks numbering children is a great idea
http://www.inquisitr.com/64210/australia-thinks-numbering-children-is-a-great-idea/
BTW the Elite themselves say that Gold is the only money you can rely on.
The play is going down this coming 12 months the dollar is going to decline 40%-50%!!! Dubai world is going to default on a $80 billion debt. This is the beginning of the falling of one OPEC country after an other.
Next 1 1/2 year no war with Iran yet. War with Iran is planned though after.
There’s gonna be a lot of fuzz round the November elections. Not clear exactly what that will be. Maybe Obama’s (Real name Barry Soetoro) lack of birth certificate. First thing Obama did when he came in office is sign an Executive Order barring release Of his birth certificate. That speaks for itself. http://tinyurl.com/m36oyh
Health care Bill is no health Bill but a government take over, gun control, euthanasia and chipping via injections.
This all according to Lindsey Williams on AJS yesterday.
@ Land Rat
Hah, you must work for the Sydney Morning Herald – tosser.
@Land Rat – you should stay in the housing market, for without losers, there could be no winners, especially in a Ponzi Scheme where many, many, many losers are needed; anyone else should look at the psychology of “selling too early” http://www.springerlink.com/content/l174176850315743/
@Casper Studly – thanks for the Pete Townsend quote . . .
@Crab – thanks for your analysis; I’m not sure that health services will stay booming if people are forced to drop their insurance as they lose their jobs . . . http://bit.ly/abVXBV
@William of the North, @GGees – gold performs best during deflationary collapses and hyperinflations; ShadowStats.com is the best for looking at the real money supply; as you see in the blue line below, M3, the broadest measure of money supply, is now in negative territory; this is deflation
Here is link to the page to view a larger version of the chart.
Lindsey Williams on Alex Jones: OPEC’S Debt Obligation Crisis & Israel’s Ties To Hamas! Vids http://tinyurl.com/ycz4e6m
Aliens can’t get drunk no more..
http://motherjones.com/politics/2010/03/texas-racist-laws-drinking-while-brown
Max what are you doing talking to jerk off Max Keen? The whole of Australia is laughing at this guy.
He sold his house just before the market boomed last year. He’s how homeless. Yeah, real smart. As if any sane person would take his advice.
If this guy keeps saying the sky is management, yeah – one day it will fall and he’ll be right. Of course he’ll be long dead.
Max – don’t waste you time with this know nothing academic. He’s no good for your credibility.
Max,
Started tuning into your site almost daily after I heard you on the “Alex Jones Show” in January and then I watched “Money Geyser”. I only wish I had done it sooner. The financial information and commentary that you produce are both highly educational and entertaining.
I do have two questions for you regarding the approaching deflation:
First, how can one protect their US dollar$ from deflation? Gold and silver seem likely, and if this is the case is physical gold the best or will GLD and SLV also be a decent place to nest? Any other ways?
Second, with the 7-day notice required to withdraw money from banks such as Citibank now on the books (http://www.infowars.com/citibank-controversy-puts-dubious-fdic-guarantee-back-in-the-spotlight/), where can one keep money? Is a stock brokerage account an alternative?
Know you’re very busy so if you can answer these two inquiries it’ll be much appreciated.
From Chicago,
Steve
@maxkeiser
Great Max! Baldy Brit is pretty prolific! Gonna listen now.
@Chris
Cracks in Dubai’s Underwater World Vid: http://www.youtube.com/watch?v=E3IieVxTUCo
Dubai is underwater…in more ways than one! http://www.nytimes.com/aponline/2010/02/25/world/AP-ML-Dubai-Mall.html?_r=1&ref=global-home
Max, Did I hear wrong or did that Aussie guy claim he’d christened the ponzi economy we have ‘zombie capitalism’? Google the term, along with the name Chris Harman’ (a British Marxist).
And WTF – quit preaching to the converted! Let’s have some ‘healthy debates’; sock it to ‘em or you’ll start getting rusty.
Cheers from Moscow.
@Phil,……Nigel definitely knows what’s going on,.and he’s pissed!
http://www.youtube.com/watch?v=bypLwI5AQvY
an interview I did yesterday
Greece, Gold and Financial Terrorism – Freedomain Radio Interviews Max Keiser
http://www.youtube.com/watch?v=Sq5j0ba034M
http://handshaketimes.blogspot.com/2010/02/stasi-20-evidence-of-digital-fortress.html
Stasi 2.0?
“You know they are putting people in prison for nothing now.”
Comment of local Soviet Union official, 1938
The age-old information gathering techniques employed by States is alive-and-well in the U.S., as well as other western nations, today. Whereas in the Soviet Union, surveillance consisted of NKVD agents snooping in line outside a store, listening to workers’ complaints in the factory cafeteria, relaxing in a sauna or bathroom, talking to academics at the university or citizen’s mail to politicians, in the U.S. such methods have been multiplied by the technetronic era to encompass digital resources. (1)
One could argue for an ongoing process of sovietization in America.
Laptops issued to high-schools students in an affluent Philadelphia suburb were equipped with remote-controlled webcams. School administrators, it has recently come to light, activated the webcams in order to spy on students and families while they were at home.
The school was also spying on students’ clickstreams and emails.
Blake J Robbins v Lower Merion School District (PA) involves the Robbins’s child, whom the school attempted to discipline for “improper behavior in his home.” The Vice Principal used a photo taken by the webcam as evidence. The class action suit was brought on behalf of all students issued laptops. (2)
Students at the Philadelphia school are not the only ones illegally spied upon. Google, for example, has admitted for years that it has implemented similar surveillance technologies so as to improve their individual-specific advertising systems. By way of in-built microphones, which record background noise—such as television, music or radio—Google can advertise based on ones preferences. (3)
Many cell-phones, furthermore, record conversations, at random, had by their users; even while the cell-phones are turned off. The only way to disable this feature, is by taking the battery our of the device.
Earlier this month, Wired Magazine reported, that Google would be teaming up with the National Security Agency to investigate hack attacks against its network. The agreement enables Google to share critical information with the NSA about attacks and its network. (4)
Also reported this month by Wired, Police forces in the UK will soon utilize unmanned aircraft from a national fleet. According to Home Office plans, modified military aircraft drones will carry out surveillance on persons from protestors and antisocial motorists to fly-tippers. The system will be in place by the 2012 London Olympics.
In the battlefield, Military drones evolved from surveillance to attack. Should the British police develop their systems in a similar manner, their drones could be armed with the familiar litany of contemporary non-lethal weapons, instead of military missiles.
The unmanned aircraft can, also, be fitted with speakers. The Long Range Acoustic Device (LRAD) was used in the United States at the G20 in Pittsburg on peaceful protestors and children. It has also been used to in U.S. war theatres to force crowds into strict obedience.
LRAD is a pinpoint directional speaker composed of a flat array of piezoelectric transducers, “producing intense beam of sound in a 30-degree cone. It can be used as a loudhailer, or deafen the target with a jarring, discordant noise.” (5)
Further, Britain recently announced a plan to install 20,000 CCTV cameras inside private homes. The $669 million initiative will go towards installing and monitoring CCTV cameras in the homes of parents to ensure the kids are doing their homework, going to bed early and eating vegetables. (6)
But will the measure be forever used for such “positive” ends?
In Arizona, citizens are acting out against ubiquitous spying. Since the state began enforcing speed limits with roadside cameras, motorists have blocked out lenses with Post-it notes and Silly String. Over Christmas holidays, they covered cameras with boxes in wrapping paper.
So far, Arizona is the only state to implement “photo enforcement.” The cameras photograph vehicles driving 11 mph and more over the speed limit.
In California, speed cameras are illegal. Gov. Arnold Schwarzenegger, nonetheless, proposed a program to add speed enforcement capabilities to 500 red-light cameras to generate $338 million for the 2010-11 budget. The proposal is, thus far, unlikely to be a part of the Legislature’s upcoming budget recommendations.
In Arizona, the mini-revolt runs deeper than Post-It Notes and Silly String. As of September, only 38% of issued violations were reportedly paid.
One such dissenter, John Keegan, is a judge for the Arrowhead Justice Court. He has called the cameras a constitutional violation and rejects every photo radar ticket with which he is confronted. Keegan says he has dismissed more than 7,000 violations; a value of approximately $1 million. (7)
Technology is not the crux of the problem, for technology is inherently inanimate without attitude: so, therefore, can be used to positive or negative ends. It is pertinent, then, that we pay attention to whom is using the technology and for what reasons.
It is reason for concern, that the Department of Homeland Security hired Former Stasi head, Marcus Wolf, in 2004. (8)
In Germany, globally coordinated the technetronic surveillance movement has been dubbed, “Stasi 2.0.” A portmanteau that originated in the blogosphere, the concept combines the name of the Stasi, known as one of the most brutal secret police apparatus’s of the Cold War, with a term from software versioning used in popular phrases, such as Web 2.0. The implication being, that the Stasi 2.0 is a modern version of the Stasi. It highlights the preemptive security strategies, appearing increasingly, and in a coordinated manner, in Germany, Britain, U.S. as well as in many other countries. (9)
1. Sheila Fitzpatrick. 1999. Everyday Stalinism: Ordinary Life in Extraordinary Times: Soviet Russia in the 1930’s. Oxford Press.
2. Cory Doctorow. “School used student laptop webcams to spy on them at school and home.” BoingBoing, 2-17-2010.
Accessible at: http://www.boingboing.net/2010/02/17/school-used-student.html
3. Faultine. “Google developing eavesdropping softwards.” The Reigster, 9-3-2009
Accessible at: http://www.theregister.co.uk/2006/09/03/google_eavesdropping_software/
4. Kim Zetter. “Google Asks NSA to Help Secure its Network.” Wired, 2-4-2010.
Accessible at: http://www.wired.com/threatlevel/2010/02/google-seeks-nsa-help/#ixzz0gI2n65kL
5. David Hambling. “Future police: Meet the UK’s Armed Robot Drones.” Wired, 2-10-2010
Accessible at: http://www.wired.co.uk/news/archive/2010-02/10/future-police-meet-the-uk%27s-armed-robot-drones.aspx
6. Charlie Sorrel. “Britain To Put CCTV Cameras Inside Private Homes.” Wired, 8-3-2009
Accessible at: http://www.wired.com/gadgetlab/2009/08/britain-to-put-cctv-cameras-inside-private-homes/
7. Nicole Santa Cruz. “Arizona speed cameras incite a mini-revolt.” LATimes, 2-19-2010
Accessible at:
http://www.latimes.com/news/nationworld/nation/la-na-traffic-cameras20-2010feb20,0,7499882.story?page=2&track=rss
8. Prison Planet. Ex-Stasi Chief Markus Wolf Hired By Homeland Security?” PrisonPlanet, 12-6-2004.
Accessible at: http://www.prisonplanet.com/articles/december2004/061204wolfhired.htm
8. Wikipedia: Stasi 2.0
http://www.youtube.com/watch?v=b_kskdHCOiI&feature=player_embedded
Waxman $12 Billion in cash lost in Iraq.
Its a little bit old but worth a look!
VM
Steve Keen would love this…
http://www.smh.com.au/business/housing-loans-lift-lending-rba-20100226-p72s.html
@Chris
Just listening to the the Pod cast of the Alex Jones show of Thursday 25 February with Lindsey Willams and there is some new info about Dubai.
Dubai World (not City) is gonna fall $80 bill short. Other OPEC countries will go belly up one after the other. Dubai is one if the great promoters of derivatives.
ggees, too bad the usa taxpayer sheeple didn’t figure the same thing out. But they did and the bankster owned politicans stil set it up to rob the american people. There aren’t that many wallstreeter banksters and politicans. And we know who they are.
Stock market crash won’t happen until Obama’s health reform happens.
I don’t know why and don’t have any evidence but it feels like the stock market is hanging on for something.
I reckon Obama has done a deal. Health reform, then smash the markets.
Just a hunch.
Why is Iceland even negotiating with these scum bags, how can the Iceland taxpayer be responsible for private bank debt. Fck em the sleaze balls can go suck eggs
Wooohooo!
Keiser report appears on 24 hour Gold site.
Soon, you will be on all media max and Stacy. Reward for good honest work.
Under news section, bottom right.
Nice to get some recognition.
http://www.24hgold.com/english/gold_silver_prices_charts.aspx?money=AUSD
O/T:
Dubai is underwater…in more ways than one!
http://www.nytimes.com/aponline/2010/02/25/world/AP-ML-Dubai-Mall.html?_r=1&ref=global-home
FDIC Says 702 Banks Now in Danger of Collapse 23 February 2010 (ABC News) http://tinyurl.com/ygmr5vf
Iceland Walks Out of Depositor Accord Talks With U.K., Dutch http://www.bloombergnews.com/apps/news?pid=20601087&sid=ag0A5Gq6Uws0
Obama Signs Executive Order Barring Release Of His Birth Certificate http://freedomedium.com/2009/07/obama-signs-executive-order-barring-release-of-his-birth-certificate/
@ Max and Stacy
George Soros in China , Arguing with Chinese professor about Govt Intervention and how it helped in in 1929. Chinese Professor is saying exactly the same thing that Max and Stacy talked about he 1920-21 Crash in Keiser Report. Prof. and Soros arguments come at 4 min into the Video.
Here is another point on which Max can challange Soros to Debate him on his show or may be any other show
http://www.youtube.com/watch?v=_BP9ilq6Teg&feature=PlayList&p=B1C1A8C1A3FDEADD&index=0
In this second part Soros Talk about philanthropy and money
http://www.youtube.com/watch?v=9lveBD0YqXc&feature=PlayList&p=B1C1A8C1A3FDEADD&index=1
Canadian Atomic Scientist vanishes without trace http://www.redicecreations.com/article.php?id=9994
2/22/10 The London Metal Exchange has approached the Baltic Exchange to develop an electronic exchange for freight derivatives http://tinyurl.com/3pnxg
Biggest mining boom in Australia, courtesy China 25 February 2010 (Commodity Online) http://tinyurl.com/yeawwjy
Bank lending to eurozone businesses shrinks http://tinyurl.com/ya6a6mm
@ Gordo
I agree with you…I wish Max @ Stacy would have on Joe Bageant…(even though the Bastard is stealing my shtick)
and WOW I was surprised how much activity this had today…is it me or is ever post well over 100 comments
Winds blowing to limit the market on the derivative 25 February 2010 (MarketWatch) http://tinyurl.com/ycd9hst
@marietta
Yes, I have heard that from a number of sources.
In fact some say if done properly an economy can heal fairly quick compared to other options if carried out correctly. (ie: FORGIVING the debt) Still years from coming to that realization unfortunately.
WL, that would be great if the british pound could be in trouble. Screw those london bankster shysters.
Large hedge funds shorting euro: WSJ 25 February 2010 (MarketWatch) http://tinyurl.com/yan4rpj
Sorry Stacy, but this couldn’t wait for Jibber Jabber
Eat up people, it could save your life. MSM at it again!
http://au.news.yahoo.com/a/-/odd/6857237/love-handles-saved-my-life-victim/
marietta, I personally would love it if deflation keeps happening. And I”m sure most people would say the same thing.
Hyper inflation would kill us all.
Iceland actually might be in the drivers seat here. Its looking more and more like the whole european union could disolve. And several currencys in that union could go tits up.
If I were iceland I’d just say frack you european union and london banksters. Your going down.
Goldman role in Greek crisis probed
The US central bank is looking into Goldman Sachs’s role in arranging contentious derivatives trades for Greece, which helped the country to massage its public finances, Ben Bernanke, chairman of the Federal Reserve, revealed on Thursday.
http://www.ft.com/cms/s/0/ca979904-2216-11df-98dd-00144feab49a.html
Mike Norman Speaks Truth About Goldman Sachs with Don Harrold Vid http://tinyurl.com/yg7y2zx
India inflation sparks food shortage fears – Food Went Up 17,6% in the Last Two Weeks! Vid http://tinyurl.com/ydkfvdg
Freddie Mac likely to need more cash support http://tinyurl.com/yc8t95d
@ gordo, phil
I’ve heard Peter Schiff say that deflation isn’t great but a lot better than hyperinflation, as long as you can keep your job. He’ll be kicking himself for buying that house.
Japan Deflation Persists as Consumer Prices Fall 1.3% http://www.bloomberg.com/apps/news?pid=20601068&sid=apaP30Yg9yik
Obama May Ban All Foreclosures Without Review by Loan-Modification Program http://www.bloomberg.com/apps/news?pid=20601087&sid=ahuuwBS8KYq8&pos=1
Hey Max.
Coca cola big gap down.
Karmabanque stocks up?
Now Jim Rogers — UK Pound could collapse within weeks…HMMMMM
Pound Could Collapse Within Weeks, Predicts Billionaire Financier Jim Rogers
Jim Rogers
February 25, 2010 – Press Dispensary – The UK Pound is on the brink of a collapse which will herald a downturn worse than 2008/9, it could well happen within weeks and the British government is powerless to prevent it. And this in turn will foreshadow a global economic winter that could come before the end of 2010 and make the last two years seem like a mild spring day.
http://www.pressdispensary.co.uk/releases/c992586/Pound-Could-Collapse-Within-Weeks,-Predicts-Billionaire-Financier-Jim-Rogers.php
My would China keep paying for resources when they can just buy Australia, little by little, which is what they are doing.
Not warfare just economics
@x
Sorry…
I thought you were saying that Druggies actually have to spend more for their fixes with the rate of inflation….
HAhahahahaha
They live in Time-Warp
Oooops.
…and post….
http://www.theage.com.au/business/property/australias-mortgage-debt-blowout-20100224-p1ex.html?comments=70
Indeede what Keen says and I said it also before. Giving out homelones=Money creation on which banks can leverage.
Since November 2008 banks have not been lending for several reasons and recycle the money in treasuries.
4 – The American Central bank pumps money into the economy but never reaches the businesses and consumers cause after a day or so the put it back into Treasury paper stimulated by these special money funds who, after the dead of Lehman Brothers, are only allowed to invest in Government Loans. When such loans are created everybody wants to have them.
My Commentary on Reuters Dec 13, 2008 http://blogs.reuters.com/great-debate/2008/12/12/finance-throws-sand-in-wheels-of-trade/#comment-3224
One thing Steve Keen didn’t mention in this interview which has recently commented on is that the Australian Government has relaxed foreign ownership laws, therefore enabling cashed up foreigners to buy a house in Australia.
This has also contributed to the housing bubble here in Australia.
I have posted this before but it is another factor in the Australian government keeping the people FEEL wealthy so they keep them in power. In Australia a government lives and dies on the voters hip pocket, thats the bottom line.
I guess thats the same in most countries. All the broken promises in the world don’t matter as long as the people FEEL wealthy and can use home equity to help that feeling going. The voters will forgive just about anything if this situation continues.
Phil /Germany
Karl Denninger on YouTube …no hyper inflating
Thanks, It is starting to look more and more like he is right.
anyway yous fucks. bye y’all.
@Snoot. plus that fucking pony i gave ya ran all the way back up to canada. the skinny fucker crawled the last mile. fed her and she’s running with the colts.
frances snoot. funny, and a good picture of SG. He shouldn’t be embarressed with that picture at all.
@ G Bagodonutti
Last point
Your original comment “but most people (excluding Meth/Crack-heads and Junkies) need food to stay alive” is for sure the best / funniest line I have read on this comment board – I’m not joking.
In my point #3 I was simply trying to acknowledge your great sense of humour.
Regards.
here’s a question. Why should iceland pay back the 5 billions that were actually stole by the banksters that took off to london.
But my question is. If so many other countrys are going to fail in the eurpean union what does it matter that iceland pays anything back. The whole european uniion is gonna be falling apart very soon.
iceland should just sit tight take care of itself. Screw the coming extinct european union.
i gotta cook fucking diner and cover poland?
something for nothing. the farging cork suckers are in poland right now pulling an iceland. wake the fuck up.
oops: doubletake
I can take photos, ronron. Here’s one I took of SG when he was peering into the library:
http://www.tipiloschi.net/nino/ninoland/MartyFeldmanIgor.jpg
I can talk photos, ronron. Here’s one I took of SG when he was peering into the library:
http://www.tipiloschi.net/nino/ninoland/MartyFeldmanIgor.jpg
Do you have any money for the ‘assignment’, ronron? I’m skint. Also, the weather is so nice now: could we wait till Florida is hot and mosquitoey?
@x
Trying to compare Dirt-weed of the 70′s to NOW is foolhardy
Most notably due to the fact that INDOOR gardens have erupted and become the de facto standard of quality…
I was paying $10/g back in 1992…
I pay the same price now…
And yes, the quality is BETTER… but the variety stinks…
Everyone is growing KUSH (in Vancouver)… which is OVER-RATED…
Give me a Hawaiian Sativa, and I’m in heaven, but it takes longer to flower…
(Marginal costs and all that jazz)
Grams are retail…
it is when you get into the pounds (i.e. LBS) that you see serious price fluctuation….
On pounds, I’ll see +/- $400 difference…
But that comes down to quality…
Outdoor crops usually fetch less than Indoor…
My point is that the price is relatively stable (over 20 years)…
So, if one were trying to conserve wealth, you might as well get into dealing drugs…
It is far more stable than GOLD….
I believe Jim Rogers has a Herb farm in Thailand, if I’m not mistaken…
BUT
going back to the other drugs (i.e. chemical) I don’t know what the inflation is beyond 10 years.
That said, they are still the same from my point of ref…
$75/gm for Coke…
http://www.havocscope.com/Drugs/heroin/heroinnorth.htm
$30/point of smack
and last I checked $10/point of speed
I could be wrong on the speed, though. I don’t know many JIBBERS, thankfully…
(they are the worst of the bunch)
@Snoot. yes i need you in poland. tomorrow.
The burning ring of fire—hmmm sounds rather like someone may have had an overly hot curry lol
@Phil/Germany. wow. holy cow.
Libredon in effect we agree the free market has not been allowed to work. By the way China is a very long way from being at the top even if their economy has been performing well. To compare the average Chinese worker with the average Japanese worker would quickly show just how far they still have to go, even if Japan has been mired in a recession for the last 10 years.
There have been few times in history where people have been free of a despotic government however everything is relative and it can be seen from Early Athens, the early Roman republic, Venice, Florence and the USA before the 1900s that the individual did best in a society which protected their freedom and liberty. Of course none of those societies was either perfect or ideal however relative to the Tyrants around them they prospered.
To claim that trade unions achieved progress for their representatives may have some merit but once again most union bosses where as corrupt ,as despicable and as short sighted as the Business owners and where soon in bed with the political classes to enrich themselves.
The Poland assignment?
@Snoot. i’ll get SG to take care of the library while your gone.
Karl Denninger on YouTube …
Bernanke Repudiates 2002 Thesis
You’ve heard about the famous “Helicopter” speech in 2002. Guess what – Ben disavowed it in his Humphry-Hawkins testimony on Wednesday.
Beware if you’re counting on a hyperinflationary future…..
http://www.youtube.com/watch?v=FX9ZBXbiN18&feature=sub
7 minutes
Latvian ‘Robin Hood’ hacker leaks bank details to TV.
http://news.bbc.co.uk/2/hi/technology/8533641.stm
@Snoot. i hope you take the poland assignment. it will be hard work. we at the paper feel you need to go overseas. treat it as a holiday as well. same pay.
snoot never does smiley faces. the nerve.
@William of the North, ronron
Medals by the Numbers
2.05 – kilograms of gold used in production of medals
500 grams to 576 g – weight of medals, among the heaviest in Olympic and Paralympic history.
903 – kilograms of copper used in production of bronze medals
1,950 – kilograms of silver used in production of medals
http://www.vancouver2010.com/olympic-medals/vancouver-2010-medals/
@William of the North, ronron
Winter Olympics 2010 Medals Made From Recycled Electronics
http://www.switched.com/2009/10/19/olympic-medals-go-electronic/
hahaha SDR’s. the ring of fire. contagion. wow. i worry for you youngins.
@TMFG. 140 grams 14 karat
@ G Bagodonutti
1968-1975 Lid of weed = 20 grams = $20 = $1/gram
2010 apparently one lousy gram of weed = $10 (and don’t tell me it’s better quality)
It is good to know that currently at least somethings – drug prices – are steady.
Too bad GovCan couldn’t include it in the Consumer Price Index to keep the number down.
@William of the North, The Olympic Tungsten Medal.
@Snoot. they lending money in poland yet.
@Snoot. you don’t have any fiction in ya. sarcasm yes.
no grudges at keiserville. good stuff @Snoot.
Ronron:
It’s only FICTION!!! I ain’t left him on that swamp hillock….yet.
Phil:
Tank oou. tat’s nice.
i tan be nice too.
Iceland repayment talks collapse
… Talks to agree how Iceland will repay more than $5bn of debt it owes to the UK and the Netherlands have broken down without agreement.
The collapse of the Iceland-based Icesave online bank in October 2008 hit savers in both countries.
The UK and Dutch governments, which compensated savers, want Iceland to repay 3.8bn euros (£3.3bn; $5.4bn).
…
…
http://news.bbc.co.uk/2/hi/business/8537862.stm
@Snoot. what about ronron’s singsongs?
Heh, Mr.Donutti, I got the first part of my novella: a movement in three parts.
There’s a sayin’ round here that stupid is a learned trait. They’s referrin’ to the spoon-lugging-dirt-eatin’ variety of stupid, and if that sluggard ain’t it, then it ain’t never been seen. He don’t even know his name, just scratchin’ at chiggers and callin’ hisself Supergeek. Been a fixture of this here place long enough to have a street named after him, and they is done that: SG Avenue. Supergeek feelin’ mighty fine strollin’ down his own avenue, callin’ for his dog that’s been dead for six years. He ain’t got much in tween the ears but his jaw sure can bone long till night makes mornin’! Folksies set their clocks to the waggin’ twang, ends right bout sunnup, when he stumbles off to bed, if he can find his way to home. Likely nuff he takes to peerin’ into windows hopin’ he’s set to right, but gettin’ dish water thrown his way for thanksies. But don’t mind SG. He goin’ wind down one-of-these-days, just like a wind-up toy that got’s to end with the last rotation of the crank-wheely insert. Then he’s most likely just sittin’ and grinnin’ and listenen’ to his ‘purty music’ goin’ round and round in his head. His eyes likely too set to keep the rhythm round and round they go till he falls over and don’t get up till someone steps on his snorin’ carcass.
Nigel Farage and Dan Hannan
Two outspoken Brits in the EU
http://www.youtube.com/watch?v=lqovTGjYjM4&feature=player_embedded
@marietta and @frances … back at the same time !
PS: welcome of course !
@GGes So Libredon what are you suggesting, socialism for all?
Let’s start for punishment for a few. In this point I agree with the general consensus of this site that capitalism must be respected in the good times and in the bad times. The main problem is that for the workers in the last 30 years the wages stagnate in order to increase the rate of profit of the increasingly reduced oligarchy. Now the pain is allocated on the shoulders of the workers again.
@GGes don’t be ridiculous people have always fared best when their individual liberty was guaranteed by the rule of law.
Base on which data. Definition of individual liberty (=individual property and right to exploit the ones that do not have individual Liberty). So, according to your criteria China is the champion of individual liberty because they are faring the best right now.
In any case. I am not advocating for old failed systems as the soviet one. You otherwise keep on supporting a fairy tale call free market system that has just now totally failed because of lack of regulation which lead to corruption and its structural incapability to redistribute wealth. Convince me how are you going to fix this problems and I will be the champion of libertarianism. I cannot close my eyes to this and other realities about the free market utopia as I cannot deny that experiments in the soviet field led to dramatic outputs. Till then I think that the worker must defend their rights to preserve their quality of life and reject a system that condemns them to be serves again. The system must be modified. Even at the expense of eliminating the privileges of a minority. Not only Goldman and friends. We tend to forget that the victory of capitalism over socialism was based on the fact that could provide an image of a better life for all. The creation of the middle class. Right now it is disappearing. In China , in Russia, In Iran even in Cuba because they see what is their fate in the mirror of countries as the PUGIIILS (Portugal, Ukraine, Italy, Ireland, Iceland, Latvia, Spain) (now sent to the lions by their puppet masters before the obedient followers of privatization and liberalization policies imposed by the dominant credo).
“The free market has never been allowed to work in practice” Bollocks!
For short term objectives I am in your boat. Let’s end the Casino, oligarchic monopoly capitalism, But I hope that then you will see the inherent contradictions of the free market system. Paraphrasing one of your favorites
@x
Thank you for that recommendation…
I will try to get that Galbraith work…
As for Meth/Crack-heads et al. I know FOR A FACT that their consumption issues are not being affected by in/de-flation….
Drug prices are steady… (No, I am not a user… I just know them)
Drugs are in a world all their own…
For instance, the WHOLESALE cost of Marijuana has not moved more than +/- 10% in 20 YEARS!!!!!
LSD and Psylocibin ‘shrooms, as well…
Coke and Heroin may have ups and downs, but I am certain their prices fall within that range…
Speed? I don’t know… as far as I know it’s still cheap enough for Welfare Victims…
@X. hold on here a minute. this is a welcome back snoot party.
@G Bagodonutti
1/ I am not knocking Mr. Keen’s ability as an economist. He is, after all, a university professor. Further, I couldn’t care less about the fine points of this bet business. It was his cop-out that he hadn’t counted on some gov stimulus program. Like saying horse #2 in the sixth race for pacers should have won, but I didn’t count on him breaking stride. He’s just not my cup of tea. BTW I also live in the Frozen North.
2/ For classical study of liberal economics, there is still the great Canadian economist John Kenneth Galbraith. ‘The Economics of Innocent Fraud: Truth for Our Time’ (2004; 64 Pages) is a super little book, as are all his titles.
3/ While not requiring food, Meth/Crack/Smack-heads are still subject to the vagaries of market pricing, and as such deserve our consideration.
@Frances “Bird Reynolds” Snoot
at least you aren’t DEAD (yet)
Self-deprecation is the best defense
(and usually the funniest)
and thats why they call her the champ.
@Dedo. stacy throws up 4 blogs a day. think ones for snoot. always thought that. remember when everyone was fighting about a month or so ago. that’s when stacy split it up a touch.
@What?!
Semination, ecstacy, and silence?
Sounds metaphysical.
“I will not talk about sdrs. I will buy gold. I think man are nice. Please pass the pepper: no I prefer my blog fare without spice. I am a good girl. I vote Democrat. I like the European project. No, I couldn’t have seconds, too many words are fattening. I keep my communications to a frank yes or no.”
http:www.snootsforay.com
@Marietta. there are no grudges in keiserville.
I think Snoot should start her own blog,…she’s a very smart cookie,.her talent needs more avenues of dissemination
@ronron
I see…
(yes, I have sympathy for the devil)
well… that’s a feminine issue, and all I understand is how to make them feel ecstasy…
when their brains start working, it’s best to just stand back (if not run away)
@Marrietta. snoot and stacy have a history for spats.
Olympic Gold medal women’s hockey.
Canada 2, USA 0
I wonder if a gold medal has any gold in it?
@ronron
I don’t think Stacy will have any trouble at all sleeping tonight. Maybe snoot took her advice and decided to start her own blog.
@Donuts. her and stacy had a little fight. neither one of them is gonna sleep good tonight.
Here’s an audio of that interview I posted,..more for Bonn, cause I know he doesn’t like readin’ to much! : )
http://www.fame.org/
@GGees
SOCIALISM?!?!?!?!
NOOOOOOOoooooooooooooooooooooo
I just got a book today written by Hayek called
The Fatal Conceit : Errors of Socialism
and according to the person that gave it to me, it is a must read, for critical purposes…
Hayek doesn’t like the idea…
and I am quickly losing my optimistic belief in its broad application…
perhaps this book will finalize that…
@ronron
Snoots’ silence is peculiar, isn’t it?
@Snoot. http://www.youtube.com/watch?v=10Y6QZ9dGCk
sure would like to hear girls talk about SDR’s. i forgot how they operate.
i dislike those evil faces.
So Libredon what are you suggesting, socialism for all? a truer more ethical form of communism, what about good old fashion tribalism with a wise leader at the top–lol don’t be ridiculous people have always fared best when their individual liberty was guaranteed by the rule of law. By the way almost anything is better than the current Casino, oligarchical monopoly capitalism
funny 4 canucs on here at once. hahah
@ronron and William
Classical Counterfeiting (as opposed to Derivatives counterfeiting) is nothing new…
And American money is probably one of the easier forms of Fiat to do it with…
Stupid Monochrome bills… where’s the Holographic labels?
The FED is so cheap it can’t even make the currency worth 1/10th of its face value…
Check out a recent issue of a Canadian Fiat Note if you want some lessons…
That said, I thought the answer to What’s the difference between a 5 and 100 is “about 10 years, assuming inflation in this environment”…
for you ron paul peeps. http://www.dailypaul.com/node/127060
Just read this little interview from 2002,…if only folk would have listened! ; )
http://www.fame.org/pdf/Our%20Dishonest%20and%20Corrupt%20Monetary%20System%20Parks%20Puplava%2011%2006%2002.pdf
@ronron,
High Five!
She just learned a lesson in “what’s the difference between a fiat 5 and fiat 100?”
Got Metal?
turning fives into hundreds. http://eclipptv.com/viewVideo.php?video_id=10399
@Kay who wrote “Where as, after the 1929 crash we had 40 months of do nothing governance before FDR took office in 1933.”
That’s a fallacy! It would be like saying George Bush Jr. didn’t do a thing before Barry Obama started to stimulate.
eu parliament. http://eclipptv.com/viewVideo.php?video_id=10396
Maybe another way to look at the inflation/deflation debate is to say that the creation and take up of credit inflates prices of goods and services (reduces the buying power of money) while st the non-availability or non take up of credit reduces these prices. Gold as a safe harbor may react to other factors eg war or the fear of war or civil unrest, its portable as compared with property. So possibly the value of gold reflects not only the availability of credit but also other political considerations which may impact its price. With the debt burden so high, unemployment increasing and uncertainty rising it would indicate that deflationary forces are dominant. However in some countries like the UK as the pound has imploded in value relative to other currencies then the value of its imports have risen so it would be natural for those people to fear inflation is at play.–The whole thing is too complex lol
@x
Thank you for the clarification,
but in all seriousness,
I would suggest you read Debunking Economics
before you toss Dr. “Doomsday” Keen to the side…
(I bought the E-book, but wound up reading his book through an Inter-Library Loan, so I am fairly certain you can get a copy if you live in an English speaking country)
Just because he lost half-a-bet (which seems he was coerced into) does not mean he doesn’t have a clue of what is going on MACRO-economically…
His criticisms of Neo-Classical economics (which Corporate Economists indubitably are following) are a serious point of reference one can hold onto when trying to make sense of the cacophony currently developing globally…
In fact… EVERYONE should read that book…
Including Max and Stacy (if they haven’t already)
Market Fundamentalist Go Home!
If you had leaved the market work its way this would not have happened!
Bananas!
It would have happen but the pain would have been less and shorter in time!
Bananas! Bananas!
Western societies would have fallen anyway and the welfare state destroyed as well. So, what’s the difference. What advantage for the normal guy? Not the gold bugs parasites and ex-brokers that pass their time playing to be messiah to wake up the people against who? With the objective of? Free market! Ja ja ja. You must think we have forgotten our past. Or you americans are as naive as you pretend to be. I cannot think in Europe a movement of idiots as the tea party guys. The Ron Paul disney free market world and the Mish Shedlock mumbling: ” e tradunions bad! bad!” I image him beating himself as in rainman. Com’on get a real job! contribute to the real production of goods!
Is it the free market society a civilized society? what is it offering to the worker? Slavery! oh! oh! is the least bad political system. Are you thinking about free market , don’t you? Your mind is distort.
I still remember Max Keiser in a French worker demonstration talking about market fundamentalist! Now he is an Austrian follower? Talking about market illiteracy? What the f..!
Economy is not even a science. I remember one Nobel Prize winners debate at the end of the century. There it was the Nobel economy winner talking about free market and the new source of jobs from new technologies and so on. The rest of the illiterate economic Nobel (Physics, Chemistry, biology…) all very pessimistic about the economic future. “How can we create the incredible amount of jobs that we can replace now with the new technology. I do not see it”.- Said the Chemistry Nobel.
Go back to California with your mate Sausageenager. He will buy simplistic solutions as that old song of the free market. Why is not he applying all that stuff there? We must retake the old values in Europe. Kings=bad people, priests=not good, Rich people=friends of the priest and kings.
Vive les Sans-culottes, vive Jacques Hébert!
“liberty is no more than an empty shell when one class is allowed to condemn another to starvation and no measures taken against them”
http://www.hartford-hwp.com/archives/27/070.html
Please SG, come back and do your job!
@Y’All
30 bizarre examples of defacing cash moany… slightly different line up than the ones I saw last year!!!
http://moneymumbojumbo.co.uk/fun-articles/30-bizarre-examples-of-defacing-money
he seems to equate high taxation with prosperity. the 1945 to 1960s “golden age” he writes of, may be more attributable to the bombing out of the competition (see nagasaki, et.al.) that provided for a relatively lucrative environment of trickle down.
@M/E. snoot quit again so we gotta put out an SOS for her. your help would be appreciated.
If you know inflation is creation of money supply, and deflation is the destruction of the money supply, how the hell is NOT creating any more NEW money DEFLATIONARY? And this is exactly what Steve Keen is saying; isn’t he? (Banks aren’t creating anymore money, therefore, deflationary.) Does anyone else see the flaw in his argument?
There is confusion between supply and demand curves here.
If it were true deflation it would make sense to hold onto your dollars, so that you could buy more GOLD later.
Has Gold been deflating? NO!
@George sac au beignettes
To that I say that money is not what will solve the probelm, it is teaching the workforce to do be able to do what is needed. If the stimulus doesn’t work, moeny from millionairs is not going to make a difference. The laws are corrupt and the population is unadapted to create their own wealth imho.
Cannot believe it. Max is a honest man and financial wiz. Brilliant.
great, more money for the war machine
I just walked in the door and heard about this character named Michael Bliss…
From 1945 to the 1960s, the United States and Canada experienced what appears to be a golden age of affluence, growth and, by our standards, increasing social equality. In those years, people with incomes of more than $200,000 paid taxes at marginal rates of 90 per cent in the U.S., and as much as 70 per cent in Canada.
Suppose we adjust for inflation and create new tax brackets in which our marginal rates are substantially more than the current 50 per cent. Why not levy a 60-per-cent tax on income after anyone’s first million, and 90 per cent on everything more than $2-million? There would be serious avoidance problems, to be sure, but governments are gradually becoming ruthless at closing loopholes.
http://www.theglobeandmail.com/news/opinions/taxing-the-ber-rich-would-reduce-the-deficit-and-social-resentment/article1470102/
I’ll shut up now.
what a day. http://www.timesonline.co.uk/tol/news/world/world_agenda/article7041083.ece
dubai. top notch construction. http://www.huffingtonpost.com/2010/02/25/dubai-mall-sharkfilled-aq_n_476254.html
hmm. http://www.sciencedaily.com/releases/2010/02/100224132655.htm
a worry’d man. http://www.youtube.com/watch?v=k0b9WH0VzUw
This Aussie guy says he calls it ‘zombie capitalism’? Google ‘Chris Harman, Zombie Capitalism’. Who’s BShitting? My money’s on the Aussie ‘professor’.
Has anyone seen this?
Illinois Broke: Squad Cars Repossessed By Bank From Alexander County Sheriff , Behind on Payments
http://nalert.blogspot.com/2010/02/illinois-broke-5-squad-cars-repossessed.html
Maybe the banks can repossess Obama’s armies in Iraq and Afghanistan and sell them to the highest biffer at auction.
The great deflate debate. Will we circle the bowl in a deflationary spiral or will we inflate hyper’ly as the printing presses hum on? I go back and forth on which power will win out. We all probably agree that there will be problems coming up – lagging markets, failed bond auction, etc. So far their theory has been to paper over a debt problem with more debt. I can’t see this changing for years, so I lean towards inflation.
But …
Do we not have the perfect society to quickly deflate? Long term unemployment is going to leave overcapacity in everything. Empty commercial real estate, empty houses, empty shopping malls, etc. Naturally when businesses chase those few dollars they will slide down the demand curve and be forced to reduce prices to move products. My theory is that some are suited to “get cheap” and some companies will be flattened if this takes place.
73% of the US workforce is in the “services” sector. Some things like health care will stay booming, but the companies that provide “want” type services will find everyone except their rich customers can’t afford anything. When you are middle class and have money you get your grass cut, your pool cleaned, you eat out, painters and handymen come by each month. When you are broke you usually cut back all of the “wants” and keep your money for “needs” – any services are performed by yourself. A cut back hurts this sector worse than an industrial sector because they cascade. A financial planner, rents a building, has a lawyer, pays utilities, entertains clients, renovates her office, etc. When she loses her job it in turn takes a lot of jobs out.
Here is a single example – you can probably see where I am going with this. Right now Gap.com and BestBuy.com have the same prices for products as going into the expensive pretty store in the high rent mall. This doesn’t make sense, but they don’t want to chop down the brands (khaki and royal blue) they have paid to develop. Jeans that sit in an expensive store, that are folded by a staff of 10, that are lit up by expensive utilities, really are the same jeans that sit in a warehouse in some field waiting for someone to log on to Gap.com and order them. If they wanted to, both retailers could close the glitzy stores and just run from Gap.com and warehouses.
You can imagine getting into a price war with WalMart. Almost all of their products have only one hop on the supply chain to the producer. They basically order plastic junk from a Chinese company and ship it straight in. Their competitors usually have 4 hops on the supply chain – importer, distributor, wholesaler, wholesaler, etc. Walmart could take all prices (including food) down 10% and still survive. This would be a scenario if dollars got scarce. They would want to keep sales coming in no matter what the cost. Imagine the companies with 4-5 middlemen trying to get cheap with WalMart.
As more people and business go, the remaining people will chase the low prices down lower and lower trying to keep working.
Most banks are not going to lend any money. First it is not a good environment to lend into and not many people would quality for more debt anyway. If this is true, then the velocity cannot pick up, which is a requirement for hyperinflation.
Which way is it going to go good people?
When bankers united with the “Brotherhood of Death” – the world pays the price via “communism”, “fascism”, bloody genocide; endless terror; theft of all wealth; etc.:
Excellent quality/research documentary by (Swede) Juri Lina: “THE LIGHTBRINGERS: The Emissaries of Jahbulon”
http://video.google.co.uk/videoplay?docid=7652891847477492406#
Be sure to see the origin of the EU circle-of-12-star flag (the 12 symbols of the zodiac); the symbol of the “French Revolution” (the Phrygian cap”) ; the globe ensnared; the bankers (whose names cannot be mentioned in public); and much more
Re Max & Stacy.. to paraphrase Peter Townsend.. how come all the best independent politico-economic commentators have chinese eyes??
Feb 25, Consumer Confidence Indicates Consumers no longer Believe Corporate News
Economy has not recovered from recession.
Economy has fallen into a hole.
Corporate economists still say recovery on track?
702 troubled banks, up by 27%
US banks cut lending
Whopping dive in Consumer confidence
http://www.parenting-healthy-children.com/Parenting.xml
@white Hunter.
well with the BoE saying there gonna start printing money again i can only see more inflation for imported goods, not deflation at all.
i dunno , wait and see i guess
@ G Bagodonutti
I simply expressed my opinion.
Regarding a suggested reading list, the main man Max would be an excellent source – he knows a heck of a lot more than I do.
GGes,
It is – the right question.
I listened this guy Steve Keen couple years ago.
Same story as “Mish”…
And everything those guys “predicted” – didn’t work.
I do not really understand why Max calling such “economists” in show.
Deflation – YES.
But definitely in something what each government can produce “on demand”… Especially American government in therms of US$ toilet paper.
In therms of US$ toilet paper we are definitely in – inflation.
But in therms of REAL things – we are in deflation. PMs are definitely not producible “on demand” from creatures from Wall Sreet and goverment.
So I suppose you are correct:
- The REAL money (GOLD) – increasing in purchasing power
- the US$ (toilet paper) – loosing purchasing power AND famous “confidence” in toilet paper.
Good show, Keen’s a good sport. Yep Max that oul third knee of yours is expanding, soon enough ye’ll be a right peel head scratcher.
metal baby, oh ya. http://www.youtube.com/watch?v=wwhU7XlwjZk
21st CENTURY BREAKDOWN
by James Quinn
February 23, 2010
…“Wherever we’re headed, America is evolving in ways most of us don’t like or understand. Individually focused yet collectively adrift, we wonder if we’re heading toward a waterfall. Are we?”Strauss & Howe – The Fourth Turning…
http://www.financialsense.com/editorials/quinn/2010/0223.html
Certainly worth reading !
@Dustin
i assume that the consumer goods deflationary period for this stagnation cycle lies ahead of us
prices in the UK are starting to really hike a new motorcycle that coast say £7000 only a year or so ago will now cost £10,000.
A Home cinema amp that i paid £3600 for just a year ago now costs (same model) £4800.
I could go go with food prces etc, so how is this deflationary? House prices here in the southwest havent dropped that much either, but most seems are rising in line with inflation or am i not understanding deflation/stagnation corrctly?
I’m not so sure about comparing the 1920 crash to the 1929 crash.
The economy recovered after 14 months of do nothing governance after the 1920 crash.
Where as, after the 1929 crash we had 40 months of do nothing governance before FDR took office in 1933.
Dunno, maybe the leverage was just far more extreme in 1929 with all the bucket shops, Blue Ridge Corporations, Shenandoah Corporations… In short, maybe Goldman Sachs did a lot more of God’s work in 1929 than they had in 1920.
Grazie Giuseppe and White, appreciate the input
@GGees
It is true that cash gains purchasing power in a deflationary environment…
HOWEVER, show me a deflationary condition that wasn’t followed by GREATER inflationary response over the last 30 years?
As well, how does one measure deflation?
For instance, the CPI in British Columbia has some anomalies… clothing has gotten cheaper, but food prices are going up…
So if your survival/livelihood is based on clothing, then your purchasing power is greater…
but most people (excluding Meth/Crack-heads and Junkies) need food to stay alive, so they are losing purchasing power…
As well, in a deflationary environment, if you WORK FOR WAGES, then you will see cut-backs, so if your income is going down faster than general prices for consumables, your purchasing power does not go up…
If you are independently wealthy, then sure… you’re laughing while parking your cash in Bond-funds… assuming those bonds pay-off
Hey there Max & Stacy
I just came across a news story (Link below)about shares in the biggest telecommunication company in denmark- are selling shares to goldman sachs/JP Morgan, what does this mean? are they gonna suck the company dry? or hide debt. please analyze this for me.
thanks great fan from Denmark
Peter
http://www.iii.co.uk/news/?type=afxnews&articleid=7765654&subject=companies&action=article
Rumor. goldylocks is buying silver.
@GGees
i think it iwill be a good idea. in a true deflationary period prices will be low and you will also be in a position to take advantage of deflated investment opportunities. i have heard those who have lived through the depression say ” things were cheap but nobody had any money.” i expect the views of most on this site to disagree due to the great anti dollar bias.
whats that he said? http://www.youtube.com/watch?v=wRzLTzvvaK4
Here is a question to all the smart people out there; If during an inflationary period money loses its buying power then why is the opposite not true that during a deflationary period money INCREASES its buying power. If that is the case then why is not holding cash a good idea???
jb’s got a story for ya. http://www.youtube.com/user/jbyeats#p/a/u/1/J48XAGgjl18
great report Max , i was going to crash out last night until this came on !
i just found this ominous article about Jim Rogers saying that the GBP could collapse in weeks . maybe my delusional work colleagues will quit saying the recession is over check this out
http://www.pressdispensary.co.uk/releases/c992586/Pound-Could-Collapse-Within-Weeks,-Predicts-Billionaire-Financier-Jim-Rogers.php
i`d be interested to know what Max and Stacy think about this but i think i know already
cheers
stone
stupid fucking rules hahaha. http://rense.com/general89/rules.htm
Great interview.
More corporate vultures…
http://www.gregpalast.com/liberian-leader-urges-mps-to-back-action-against-vulture-funds/
Amazing how the worship of money corrupts the mind- making a buck off the poorest of the poor.
@Alister
Your clip is for Marc Faber (good one, though)
Do you mean this clip?
http://www.youtube.com/watch?v=VetLU6yoKxs
poor gordo. hahaha. http://www.guardian.co.uk/politics/2010/feb/24/gordon-brown-rant-tony-blair
****FUNDAMENTALLY AN EXCEPTIONALLY IMPORTANT VIDEO CLIP REGARDING WHERE HEALTH CARE REFORM CURRENTLY IS & MAY GO IN THE UNITED STATES OF AMERICA *****
Lamar Alexander Gives Republican Health Care Remarks at White House Summit
http://www.youtube.com/watch?v=dF8B_jaL0oo
mother earth. YOU are right. one party. The industrial corporate war machine party.
All the demoidiots and republimorons are bickering about now is thier cut in the pie of the further raping of the usa tax base by implementing a healthcare bill. MUch like social security the health care plan will be a cash cow to bleed dry for the industrial military corportes to use to fight their imperial wars.
Max,
You can get your very own financial crisis cards here…
http://www.financialcrisiscards.com/
I’d love to know who you would assign cards.
A starkly visible symbol of deflation maybe created in Detroit:
http://www.detnews.com/article/20100225/METRO01/2250391/Detroit-Mayor-Bing-emphasizes-need-to-shrink-city
Mayor Bing states there is an urgent need to physically consolidate the city because he is no longer able to provide needes services to all residents. Whole neighborhoods will have to be moved.
It is often said the US has only one party, the corporations party. I get the impression of the live healthcare summit (now in recess) that there are still two parties in the US. I guess funding laws simply allow corporations to have a lot of influence, especially on the republic side..
@x
If Dr. Keen isn’t useful, could you recommend someone who is?
I found his book to be a well written critique…
In fact, I am reading it again…
(Although the E-book version has TERRIBLE resolution for the graphs)
LOL. top show max.
oh and in a deck of cards, paulson would be the ace of clubs, and goldman would be the ace of clubs also. in fact they would all be the ace of clubs, because like the market the whole deck would be fixed!
I’ll get me coat…
Pagan, sure you want the blue pill?…
-snip-
The term redpill is a pop culture term that was popularised in science fiction culture via the 1999 film The Matrix. The movie relies on the premise that an artificial reality that is advanced enough will be indistinguishable from reality and that no test exists that can conclusively prove that reality is not a simulation. This ties in closely with the skeptical idea that the everyday world is illusory. In the movie, a Redpill is the term used to describe a human who has been freed from the Matrix, a fictional computer-generated world set in 1999. Bluepill refers to a human still connected to the Matrix.[1]
-snipped from wikipedia-
I laughed when 0bama said the blue pill was cheaper.
@paganrongs … “Sultans of Swap”
Yes, I agree !!
He’s an ex IBM/Motorola Exec ( footnote at the bottom )
Looks like they might go for the Yen first:
Moody’s warning on Japan rating
http://online.wsj.com/article/SB10001424052748704240004575086651310028906.html
Dan Hannan…
The EU’s answer to any question: spend more
http://www.youtube.com/watch?v=trODwCZ-Dno&feature=sub
.
.
.
ICN Informed Citizen News 02/21/10
This week’s stories…
#1 Front Sight Firearms Training
#2 U.S. participating in UN small arms treaty – timetable for UN Gun Ban
#3 New wave of foreclosures by end of 2010 is feared
#4 Commercial Real estate
#5 Foreign Demand for US Treasurys Takes Record Fall
#6 States short $1 trillion to fund retiree benefitshttp://money.cnn.com/2010/02/18/
#7 Aspartame manufacturers have renamed it as AminoSweet and are calling it a “natural sweetener.”
#8 A Philadelphia schoolis being sued by parents because school officials remotely activated built-in webcams to spy on the kids (and everyone else) at home
#9 Mumps outbreak amongst those vaccinated against mumps
#10 Sweden: Study of senior citizens shows that flu vaccination is no more effective than fresh air and washing hands
http://www.youtube.com/watch?v=L6jjyNgSFHw&feature=sub
I nominate Joe Bageant as a guest for one of the shows.
and this was inevitable..surprised not more hacker activity:
Latvian “Robin Hood” Hacker leaks Bankers details to TV:
“Using the alias “Neo” – a reference to The Matrix films – the hacker claims he wants to expose those cashing in on the recession in Latvia.”
http://news.bbc.co.uk/1/hi/technology/8533641.stm
Blue pill, please.
As usual – a great report!
@Phil/Germany “Sultans of Swap” fantastic link. He talks about PFI a lot which is huge in the UK: about 800 projects involving about £170 BILLION offbook government/sovereign debt. Of course, Max had already investigated this…
http://www.youtube.com/watch?v=v1fM7iSM4-0
Great Show as always Max @ Stacy…watched before I headed off to my little orange box plantation…to lift that bale tote that cotton…nothing like being a debt slave.
Maybe one day we will have the wisdom to see and grant a day of JUBILEE…like Hudson wants and fundamentally address the flaws of compound interests…but I doubt my home land is use to being peasants
good article from Uncle Joe
http://www.joebageant.com/joe/2010/02/round-midnight.html#more
yea we are all Mexicans now
Rune ??? roooooin
Jibber Jabber (????)
Senate extends Patriot Act
http://www.msnbc.msn.com/id/35571223/ns/politics-capitol_hill
Federal judge says Fourth Amendment ‘is now gone’
http://www.examiner.com/x-536-Civil-Liberties-Examiner~y2010m2d24-Federal-judge-says-Fourth-Amendment-is-now-gone
Michael Pettis says that China is not necessarily buying less treasuries.
It is a little hard to follow but another point of view.
What the PBoC cannot do with its reserves
http://mpettis.com/2010/02/what-the-pboc-cannot-do-with-its-reserves/
@Gordo – ha! I’m glad you noticed! I did contact them, they never got back to me . . . I’m sure however, they put me on a list
Was Joe Stack setup in the Austin plane crash?
Joe Stack’s Intriguing Connections With Defense Contractors & Intelligence Agencies
http://www.youtube.com/watch?v=AcIdKWVCQzk&feature=player_embedded#
I almost died laughing when Stacy mentioned attempting to get Spain’s and Greece’s Intelligence agencies for comment.
http://yophat.blogspot.com/2009/05/reading-list.html.
On TOPICS
RE: Greedy Speculators,…..
Isn’t Greed (avarice) a Roman Catholic invention ,..
http://www.bibliotecapleyades.net/vatican/vatican_billions.htm
Just saying,…: /
I have been watching the Congressional hearings. Ron Paul is still such a gentleman. I wish he would unleash his inner tiger on Berneke. Barney Frank still gives me the creeps…. Doesn’t he look like the type of guy who watches kiddie porn and who eats too much chocolate cake?
As an aside, is their a website that lists the airports that have body scanners?
arrest warrent for Jamie Dimon..
http://news.hereisthecity.com/news/business_news/10003.cntns
Steve Keen the economist with extreme views or accurate views, lol, ill buy your book.
Good Show
@ x
Hey X, Keen is not that bad. I mean, come on now, you don’t have to be a rocket scientist or engineer ( LOL) to figure out Austrailia is in a huge real estate bubble , thanks to greedy speculators ( Asian & Australian). Add in rediculous stimulous actions by the gov’t and you have a pop coming. When and how ferocious, is yet to be seen. But one thing for sure Id bet on is that it won’t be pretty.
WoW Look at the Gold chart its got a HEART its working out down the gym lol ..
yep, I respect Keeno. There’s been 1 or 2 hatchet jobs in the Oz media since he ‘lost’ that bet….thats the corporate media for ya. But even when the bubble pops they won’t admit they were wrong.
Print it for @Mike. http://eclipptv.com/viewVideo.php?video_id=10379
the link says it all
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7309861/Greek-rescue-in-danger-as-deputy-prime-minister-attacks-Nazi-Germany.html
@Hullaballoo
Easy. A financial terrorist is one that receives TARP funds.
Terrorist Aid for Rape and Plunder. Get it now ? Look who get’s government protection. The “Too big to fail” are terrorist organizations. Speculators should not be bailed out. Sink or swim.
@Max & Stacy
I’d be pleased if you would talk about your cooperation with RT !!
e.g.
# what are the people like to work with ?
# what do they think about US and other MSMs ?
# where do “they” think this will all end ?
TIA
Hold on, we need an official definition for what a financial terrorist is. It’s starting to sound max, like you are saying that anyone who speculates is a financial terrorist.
Re: Mr. Keen
To make predictions, and then to say later oops, I didn’t foresee certain factors, is ridiculous. (Try that line as a corporate economist.)
If I’d had econ profs like him I would have bailed on studying economics.
He seems overly used to snow-jobbing freshman students with a mountain of superfluous economic baffle-gab.
I know Max likes Steve Keen; I have no use for him.
@Danny … Great – Steve Keen is always informative
Yes … he is !
GLD Options APR 125$ Call = 46,079 traded today – FALSE FLAG OPERATION?
… That’s only ca. $1,013,738
( 0.22$ x 100 x 46079)
I never trust the super cheap Options that make is so easy for Hedge Funds to fool investors ! ( see Cramer’s Video from a few years ago )
125.00 GCZ100417C00125000 0.22 0.00 0.19 0.23 46,079 ( Vol. ) 46,114 ( OI )
http://finance.yahoo.com/q/op?s=GLD&m=2010-04
Still, you never know !
@Stacy
It’s called the Babel tower malediction. Nabucodonosor malediction. Wonderful ziggutats in Irak ! And after a couple of thousands years they are still standing ! I doubt than New-York will be there or all these Dubai and Shangai babel towers.
http://ant3145-mesopotamia.wikispaces.com/file/view/DSCN1343.JPG/33604103/DSCN1343.JPG
The original Babels towers. Still standing. Quit beautiful compare to modern crap.
Nope. USSA will get an Israel based government model. For the poor and the ruined middle class it’s going to be like in Gaza. Ready for Obanana FEMA camps, RDFI chips in the arse, naked body scanners and your vaccines. What to know how completely fucked up this country is ? Read this.
http://www.alternet.org/story/145766/%24100%2C000_per_year_to_lock_up_a_cheese_thief_the_perverse_logic_of_%22three_strikes%22
100,000$ prison cost for a cheese criminal. Only the Gaza USA.
some splanin. http://www.youtube.com/watch?v=CYd2szv5ou4
FK SAKE MAX!!,…..you got me right in the middle of the forehead with that fricken’ card,…OUCH!!
@Max. the us dollar cracked 81. why?
Another informative interview with Keen. And the prediction about China using the proceeds from its sale of US T-bills to buy IMF gold appears to have been spot on. JIT prediction.
Great – Steve Keen is always informative.
Hahaha. You said ‘Keiser’ again Stacy!
first again Bonn. haha