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Jeff Nielson

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  • Only punitive interest rates during the boom years would have prevented the "Great Recession," says BoE Deputy Governor Charles Bean in Jackson Hole. And while further policy action may be called for, Bean dismisses the idea of extending measures like QE in times when conditions are already stable.  [View news story]
    You are totally confusing cause-and-effect.

    The banksters spent YEARS (and countless $billions) BUYING OFF the entire U.S. government - save for a handful of honest/responsible members.

    Blame the master, not the servant!
    Aug 29, 2010. 11:41 AM | 15 Likes Like |Link to Comment
  • Rising debt + a crisis of confidence that the president and Congress can fix it = "the most fiscally irresponsible government in U.S. history," Mort Zuckerman writes.  [View news story]
    Being Canadian, no one can accuse me of being "partisan" (unlike the obvious bias displayed by Zuckerman).

    Obviously nothing can equal the Bush "Reign of Error". First, the "straw that broke the camel's back" with the U.S. debt and the U.S. economy is the Bush tax-cuts. I'm sure that most Americans can think of better things that could have been done with those TRILLIONS of dollars than to stuff them into the pockets of the wealthiest 10%.

    The Bush Wars are a whole, separate issue altogether. That started the whole transformation to the fascist nightmare which the U.S. has become - where the rights of individuals can be instantly stripped away, just by saying the magic words "Homeland Security".

    Meanwhile, the "rights" of large corporations and wealthy Oligarchs have been expanded to extremes not seen since the Kings and Queens - whose oppression LED to the birth of the democracies which have become so corrupted.

    Obama deserves condemnation for PRETENDING he would be a "savior", while secretly remaining a shill for the rich. But NO ONE can equal the presidency of George Junior.
    Aug 27, 2010. 07:01 PM | 15 Likes Like |Link to Comment
  • New Home Sales: Still at Depression Levels [View article]
    Actually, the numbers would have to IMPROVE to get to "Great Depression" levels.

    While U.S. workers are EARNING (in "real dollars") what their great-grandparents earned during the first "Great Depression", their debt-levels are at least ten times higher - and total unemployment is AT LEAST as bad as during the Great Depression (and worsening once again).

    "U.S. Economy Crashes"

    The deliberate attempt to deceive in the headlines of the propaganda-machine are a feeble-but-desperate attempt to hide the SECOND bubble bursting in the U.S. market.

    "U.S. Housing “Good News” Just Propaganda"

    During this next, worse collapse of the U.S. housing market, I fully expect prices to fall 75% from TODAY'S levels - in a long, ugly grind which will likely last at least two DECADES.

    "The Second Bubble Bursts"
    Jul 26, 2010. 01:40 PM | 15 Likes Like |Link to Comment
  • Rich countries borrowed from the future, paying the bill will be difficult, and so will living in a thriftier world, The Economist says. Debt is a powerful drug, and the withdrawal - as annual income is forced to exceed annual expenditure - may well cause misery.  [View news story]
    The problem is that several of the debtors, notably The Three Amigos (U.S., UK, Japan) have already demonstrated that their "game plan" is to never allow the deflationary purge necessary necessary for it to be POSSIBLE for these economies to grow.

    You can't carry around debt-millstones TEN TIMES larger than any time in history, and not expect that permanently lugging around that weight won't eliminate most (if not all) growth.

    With each new dollar of U.S. government debt now causing the U.S. GDP to SHRINK by 50 cents, it is literally impossible for the U.S. economy to grow through deficit-spending. (This also proves that the U.S. economic recovery is a myth, since the money BORROWED for that "stimulus package" would have caused the U.S. economy to shrink, not grow).

    "Bernanke Fiddles While U.S. Burns"

    Europe is now TRYING to tighten their belts, but if they foolishly try to accomplish this on the BACKS of the average citizen (through wage-cuts, benefit-cuts, etc.) they will only enter into a deflationary spiral.

    Their workers have ALSO had falling wages for decades - and simply cannot afford much "austerity". Unless reckless bond-holders take a substantial "hit" as well - to reduce the quantums of debt, "austerity" is pointless This is simple justice for all they years they GAVE dubious borrowers infinite sums, at ridiculous rates.

    You don't just punish the "addict", you must also punish the "pushers".

    "Euro Bail-out Suicide"

    "G-20 Farce Showcases Debt-Dilemma"

    My suggestion is to write-off much/most of the interest on this sovereign debt - and only require debtors to repay principal. Since it is the compounding of interest which always bankrupts debtors, this would make all but the sickest economies solvent.
    Jun 24, 2010. 07:26 PM | 15 Likes Like |Link to Comment
  • Gold Enters the 'Mania' Stage [View article]
    Just like "there's no free lunch", there's no "cheap gold".

    Remember the ILLUSION of bank "interest": while your paper money is rapidly plunging toward ZERO in value, the banksters reimburse 1- 2% of your losses per year with interest.

    When people understand the sham of "bank interest" the premiums and storage fees to convert your wealth to REAL "money" (which will PRESERVE your wealth 100%) look like a "bargain"!
    May 13, 2010. 03:40 PM | 15 Likes Like |Link to Comment
  • Will China Implode and Bring the U.S. Down With It? [View article]
    In fact, you continue to perpetuate myths about China being "export dependent".

    I suggest you review the Harvard study (contained in the link below), which pointed out that the Chinese economy had ALREADY ceased to be "export dependent" as far back as 2007 - BEFORE the "crash" in markets took place.

    "China About to End Dollar-Peg"
    May 9, 2010. 06:27 PM | 15 Likes Like |Link to Comment
  • IMF Moving Its Gold Sale to the Open Market [View article]
    It's a pity the author didn't actually READ the IMF's statement before writing this.

    "More IMF Gold Propaganda"

    1) The IMF did not announce the sale of even ONE OUNCE of gold today, but DID say it is still ready and willing to sell it ALL to central banks.

    2) As PREVIOUSLY ANNOUNCED, the IMF's gold-sale is to be spread over FIVE YEARS.

    "New Central Bank sales-agreement very gold-bullish"

    In short, there was ZERO "news" of any kind in this re-announcement. Instead, it was made purely for propaganda purposes - as was done when the IMF originally announced this sale (and then re-announced that FIVE more times, over a period of a year and a half).
    Feb 18, 2010. 11:48 AM | 15 Likes Like |Link to Comment
  • A Retrospective Look at U.S. 'Gold Reserves' [View article]
    Hi Geoffster.

    Yes, you're right that despite the banksters' CLAIMS of gold being an obsolete "barbarous relic", in a purely fiat monetary system, in a sense gold is MORE important than it is in a "gold standard".

    Put another way, with a gold standard, there is neither a reason nor a means to MANIPULATE the gold market. It's only when the world is off the gold standard that the incentive exists to warp the true value of gold through manipulation - while attempting to discredit it through propaganda.
    Feb 15, 2010. 10:19 AM | 15 Likes Like |Link to Comment
  • U.S. Slaps Tariff on China; Gold Price Jumps [View article]
    Thanks for the support, everyone.

    Tmosley, the rules for reporting gold transactions are with respect to gold as a "currency". Thus, to start with, accumulating DOMESTIC gold production (which is where China is getting MOST of its gold) does not have to be reported, at all.

    That's why China was able to wait and report 6 years of (domestic) accumulation, all at once - and it was not REQUIRED to disclose that, at all.

    Conversely, purchases of gold on the open market ARE reported - just as any other currency purchases are required to be reported. I believe that these declarations are required on a monthly basis.

    Thus, we are never going to be able to get a true/complete picture of which nations are acquiring gold (and how much) through any single, report or chart.

    Unfortunately, this means monitoring the moves by various nations/central banks on an anectdotal basis.

    There could easily come a time when China WANTS to push gold lower - in order to acquire more at a better price. So (for example) China could SELL a significant quantity gold (let's say 50 tons) - and be REQUIRED to report that. Meanwhile, China could be BUYING 100 tons of domestic production - and NOT report any of that.

    Thus the only "news" which would reach the gold market was that China had SOLD a significant quantity of gold - creating the bearish sentiment to allow the price to be pushed lower.

    We can't forget the recent games by the Russian government either. One week it announces the firm intention to sell "20-50 tons" of its gold - supposedly to help close a budget gap.

    When the price of gold sagged slightly, the Russian government abruptly canceled the sale - saying it hadn't expected the market to "react" in that manner.

    Lol - what were they expecting: that announcing the sale of gold would cause the price to RISE? A few WEEKS later the Russian government announced another gold PURCHASE.

    So this is ANOTHER aspect to the precious metals market where investors must not allow themselves to be too swayed through any one particular transaction - since we definitely do NOT read/see everything that is going on here.
    Jan 10, 2010. 12:22 PM | 15 Likes Like |Link to Comment
  • For-Profit Healthcare: Good for Insurers, Bad for Americans [View article]
    Clintokk, I didn't write the Reuters article. I didn't out those words in the mouth of the head of the California nurses' union - so apparently there are a lot of us "twisting the truth".

    By the way, do you have any shred of support to document your assertion that "most denials" are with respect to forms of medical treatment "not covered" by policies?

    And, even IF this is true, then how would it EVER be possible for a person buying health insurance to know if they truly had "full coverage" unless that person is a doctor or nurse?

    Could YOU look at the "fine print" of a health-insurance contract and know whether you were receiving all the coverage you would EVER need?

    On Sep 06 12:27 PM clintokk wrote:

    > Why were people denied? In most cases, a denial is due to the insured
    > not having the correct policy. In other words, their policy does
    > not cover the procedure that they are trying to obtain, and thus,
    > they get a denial. You are twisting the truth to obtain your own
    > needs. If you own a house, and refuse to pay for fire insurance,
    > your house then burns down, and then you file a claim for rebuilding
    > your home.....Then your claim will be denied. Is that the insurance
    > companies fault or your own for not getting the correct insurance?
    Sep 6, 2009. 02:24 PM | 15 Likes Like |Link to Comment
  • Bankruptcies of Large U.S. Corporations Soar [View article]
    Thanks for the comments, let me try to address a few of them.

    Johnathan V, if I seem "heart-less" in my bleak forecasts for the U.S. economy, think about how much MORE heart-less all the liars are - who are duping Americans into false-hope at a time they should be totally focused on simple survival!

    Cecil91, I totally agree with your even bleaker views. The U.S. economy is crashing far worse than any other industrialized country, while it has the LEAST supportive social, "safety-net". I too see a complete break-down of U.S. society lying ahead.

    H.T. Love, there was a "bubble" for ALL asset-classes in the U.S. before the Great Depression (much like today). Meanwhile media-liars continue to pretend this current catastrophe is LESS severe, when it is obviously much WORSE.

    Lastly, to all those who continue to attach the LUDICROUS label of "socialism" to the current betrayal by the U.S. government, I would point out that more than 90% of all "stimulus dollars" are going straight into the pockets of filthy-rich fat-cats. This is the POLAR OPPOSITE of "socialism". Time to take your blinders off!
    Jun 21, 2009. 01:30 PM | 15 Likes Like |Link to Comment
  • Has Gold Been Manipulated? [View article]
    The manipulation of the gold market has already been ADMITTED by officials of the Bank for International Settlements, and by "Sir" Alan Greenspan - in his famous response to what he would do in a financial crisis: "We stand ready to lease [i.e DUMP] gold in EVER-INCREASING QUANTITIES." [emphasis mine]

    On top of that, the "insignficant" short positions at the Crimex, which you dismiss, are SEVERAL times as large as the Hunt Brothers silver-holdings - when they were formally accused of market-manipulation a generation ago.

    Finally, over the last year, lease rates have been negative for almost the entire time - despite an increase in retail investor demand of nearly 400%.

    What kind of IDIOTS would GIVE AWAY a commodity at a time of record demand?

    People who live in the REAL WORLD understand the truth.
    May 20, 2009. 01:21 PM | 15 Likes Like |Link to Comment
  • The Next Phase of Gold's Meteoric Rise [View article]
    This is a very good commentary, not just due to content, but also tone.

    As the author points out, what lies ahead is inevitable AND it has been clearly telegraphed by recent events. What is most-tragic is that BECAUSE the vast majority of the sheep still have absolutely no idea of what is taking place (thanks to government disinformation/propaga... this makes it increasingly certain that our collective crises will devolve into bloody wars and/or revolutions - history's "solution" for such episodes of mass oppression/exploitation by governments.

    The masses have been plundered to the point of impoverishment. Next comes starvation - and THAT (sadly) is when words are replaced with bullets...
    Sep 30, 2010. 05:09 PM | 14 Likes Like |Link to Comment
  • New Supply Floods U.S. Housing Market [View article]
    Obviously, with John Williams' site being totally UNIQUE, this is not an example of "group-think".

    The "group-thinkers" are those who believe in the fantasy of the "U.S. economic recovery"...and they were the same "group-thinkers" who also believed in Ben Bernanke's "Goldilocks economy" and Ben Bernanke's "soft landing".

    The fact that more and more people are gravitating to John Williams' message can not be "spun" into a negative...
    Sep 17, 2010. 08:58 AM | 14 Likes Like |Link to Comment
  • Housing: 'It Doesn't Get Worse Than This' [View article]
    There was NEVER a "U.S. economic recovery". There was never a "bottom" in the U.S. housing market. This is merely the re-acceleration of a down-trend which never ended.

    The U.S. economy is not "moving toward malaise". Rather it is still in the EARLY stages of a Greater Depression - made much, much worse by the lies and bungling of BOTH halves of the two-party dictatorship.

    Things can (and will) get much, much worse...
    Aug 24, 2010. 12:56 PM | 14 Likes Like |Link to Comment