Robert Nabloid

Un-American Government Intervention

Sadly, this is what the people voted for. They voted for a "personality", a "celebrity", and based off of race and making history (alberit, in a positive direction). So, that's what they got. I'm entertained, but it's sort of a sick dark drama unfolding in front of my eyes - a nightmare really. It really shouldn't matter how nice a smile a man has or the color of his skin - it should be all based off of substance, merit - and in that respect, neither Obama nor McCain should have been the two men we had a choice of.... There are better qualified men in this country, and we all know it. But we love to sensationalize and turn the entire thing into a big "pop" style "American Idol" type popularity contest.

America is lost. It is no longer a democracy. Choosing Party A or Party B every four years isn't democracy. Sorry, it just isn't. You get an incredible choice of ... two men. And when an elected official does something that EVERYONE is outraged with, what do we do? We write letters and make phone calls. Wow. "I'm so angry, I'm going to... write a letter!" What a threat.

And then if we remember, years later we vote them out, and the next guy with almost the exact same views gets in... and things continue down the wrong path, down the dangerous path.

And what is with the MSM! What a total failure it has been to us. It's nothing more than a propaganda machine controlled by an oligarchy. And with only their point of view hitting the main stream, they are able to control the mob and put candidates of their choosing onto the fast track. When we vote, we get a choice to vote for a variety of men that are all picked by the powers that be and fast tracked by the MSM. That's not choice.

There's something to be said for education. Too bad education reform can't happen. They'll just throw more at the school system without actually fixing the design of the school system. Then they'll make sure every student is reading the government mantra and politically correct propaganda that the school system is stuffed with.

Bush and Obama have both been disasters. Most likely anyone that becomes party leader for either the Democrats or the Republicans will continue to be a disaster for the country. We need a viable third party that cares more about this country than power, corruption, greed and petty politics. If Americans would stop voting for the Democrats and Republicans in mass, perhaps a viable third or fourth (or more) parties would be born and men that are independent given a chance to do the country right. Sadly, I doubt the average MSM watching American is smart enough to know any better. We've turned the once independent hardworking America into a nation of babies that cry for government to help them or bail them out and take care of everything. And that's what we're getting. We voted for it. Not that we had much choice.

The Coming Economic Collapse, Part 2

Outsourcing is occurring because governments have interfered in the very thing you call a free market..... Minimum wage, worker rights (like holidays, hours to work, overtime pay, holiday pay, pensions, unions, etc, etc, etc) are all major reasons why companies outsource. Taxes are another reason to outsource. Why do the majority of your business in a high tax country when you can do it in a low tax one? Notice the thing about many of these... They're the free markets response to government interferences. Right now the US government is forcing businesses to outsource. FORCING.

Yes, outsourcing would occur anyways, to take advantage of arbitrage opportunities around the globe - produce with cheap labour, sell in expensive markets... But government interference has only exacerbated the problems..

Outsourcing in moderation would be fine. It would be alright if foreign countries were outsourcing some of their jobs to the US as well. Outsourcing could work both ways. But right now we just outsource EVERYTHING. Outsourcing the entire economy is unsustainable and a major problem. We can't just consume and produce nothing forever... it doesn't work that way.


On Jun 09 09:04 PM TERN wrote:

> The populist argument against outsourcing, made by some commentators,
> is wrong.
> Outsourcing is the free (labor) market in action. It has enabled
> wealth creation in countries that otherwise would be dependent on
> aid to avoid famine.
> It has allowed companies to dramatically increase profitability,
> both on the employing and the employees side.
> The American jobs that were the first candidates for outsourcing
> were the blatantly uneconomic ones.
>
> The internet has now added an entire new dimension to outsourcing
> of jobs and will make it impossible to reverse or even slow down,
> without draconian limitations on economic freedoms.
>
> Compared to the rest of the world, Americans have been overpaid.
>
> In the longer run, wage rates will tend to a global equilibrium.
>
> Wage protectionism is self-defeating.

Wall Street Breakfast: Must-Know News

I'm certain SeekingAlpha + my website would be on that list. I've said enough bad things about their government to warrant it... lol.


On Jun 09 01:15 PM jimmy46 wrote:

> will require all computers sold in the country to contain software
> that blocks access to certain websites."""""
>
> ANYONE HAVE THIS LIST?
> IT WOULD BE INTERESTING TO SEE

The Coming Economic Collapse, Part 2

Truth is, Bush screwed us, and Obama is currently screwing us. Either way, both parties have screwed us. Why isn't there a viable third party? Are the US citizens zombies who just vote for the man they like or the party they've always voted for, "just because"?

Team Obama's Charm Offensive

I truly believe that he is clueless about economics. Consider his beliefs about socialism... and the people he chose to be his advisers and to head the Treasury... all people that have failed miserably at something and are then expected to fix the mess they helped create. "Brilliant choice" and "dream team" is how the media describe this group of failures...

I believe he just wanted power and to make history. He was power hungry and he is now worshipped. This is the same guy that sued Citibank to FORCE them to loan MORE sub-prime to a certain ethnic community... Then when sub-prime blows up, blames the banks for making sub-prime loans. Yes, he actually SUED Citibank... MSM didn't cover that in detail...

He is a politician. Not an economist or a economic/long-term strategist. A politician. He makes promises and stands on a podium and makes big speeches. That is his job - to make people like him and vote for him. Nothing more, nothing less. Same as any President. It's just a big popularity contest and has nothing to do with the long-term success of the country. But he does have his own goals and ambitions for a more socialist America... that is obvious. Only thing is, he thinks it's a good thing and doesn't see the contradictions in the values and economic outcomes of each.

Show me a socialist country where the wealth is more evenly spread amongst everyone than capitalist America... The rich are super rich and the rest are super poor in socialist countries. At least in US we have a middle class and the wealth is spread around MUCH better... No, it's definitely not perfect, but show me a system that is better at it where things are fair based off of "you reap what you sow".

On Jun 07 05:52 PM Northstar10000 wrote:

> Questions--
> Is the Obomanator a brilliant marxist who knows exactly what he
> is doing.
> Is the Obomanator so anti american that he knows how to simply destroy
> the country by any means necessary.
> Is he a complete economic fool and really believes this insanity
> will work.

Team Obama's Charm Offensive

While I know most of us are investors, many of us are not economists. I'd still like to think we are more informed than the average person. Either way, it doesn't take a rocket scientist or an economist to see where we are headed is NOT good. We all know it. KNOW, not think. Do we KNOW exactly how the events will occur? No. But we know it won't be good and our "leaders" try to continue things down this same road. Idiocy. But hey, at least we picked our leaders from our amazing choice of ... two men. (Is that Democracy? Choose A or B?)

There is no way foreign governments don't see where this is leading. Truth be told, it is cheaper for them to continue this charade while also diversifying their assets. They can destroy much of the American super power status (which is due to our economy, not our military - how do you think we afforded our military?) by helping us weaken and destroy us economically. Wars cost a LOT of money. Helping us do what we are already doing only costs US a lot of money. While they will lose much of the value of the US assets they hold, it is nothing compared to what a war would cost them. And yes, wars can and will still happen, but boys and girls, they are waging a 21st century war by defeating our economy with economics. And we want to continue it! The worst part is our enemies must only wait another 10-15 years until we have a massive % of population that is retired and no longer contributing to our economy... What will it look like then?

Bush for 8 + Obama for 8 = screwed from both parties, both ways + boomer's retiring in mass = end of American super power status + lower standards of living while a race to the bottom occurs with wages.

Economic Fault Lines Emerge

Lots of people seen this coming. Have you not been reading any economist that follows the Austrian school of thought? Have you not been listening to the Mises Institute? Or Ron Paul, Peter Schiff, Gerald Celente, and hundreds of others economists (and even the old US Comptroller General, David Walker) that have been saying this was going to happen for years? I even seen it coming and I'm no expert. It didn't take a genius to see it. But on CNBC they continually say "NO one saw it coming" when the truth is "they didn't see it coming" and anyone that didn't follow their exact views was never allowed on the show or given serious thought (some were even laughed off).

The problem is that the Obama administration has NO mid to long term plan to balance the budget. They increased everything in the budget including military ( and they increased the military budget by $75.5B - Obama the warmongerer (or is it peacemaker when he does it?)). Their idea of a balanced budget is only $500B in deficits in four years. Wow. Someone needs to do some math and realize $500B in deficit is still losing MORE THAN a BILLION A DAY. We all used to think Bill Gates was rich with ~$60 B. Now we know how little $60 B truly is in the grand scheme of things.

You can't increase social benefits and balance the budget and so I actually think you must be on heroin to believe Obama will balance the budget or has any intention of doing so. He preaches about fiscal responsibility in Washington and says he will change that - then he goes and makes the biggest spending bill in the history of mankind - a bill with more than 1,000 pages, and gives them 1 HOUR to read it and says they don't have time to read it all - they must pass it immediately. Then, after they pass it without knowing what is in the fine print of those 1,000+ pages, he goes on a weekend vacation before even signing it into law... We know they were dealt a bad hand, but they sure aren't making it any better for themselves by increasing government size and promising the world to everyone. And listening to Obama preach about fiscal responsibility is like listening to a gambler speak about financial planning. It is laughable at best, and the only reason I'm laughing is because it would hurt too much to look at this situation in any other way.

Do you honestly think Obama will lay off all those new government workers he and Bush have been hiring? DO you believe he will decrease the social benefits as the population increasingly asks for more while the boomers begin retirement with just 201k's (if they are lucky) when they used to have 401k's? Obama promised social benefits, he didn't promise to cut them to balance the budget. You must be one of those people that think Obama can work miracles like increase ALL spending dramatically and balance the budget at the same time...

Besides, it isn't us that must live with this deficit. It is our children. It is them that will be taxed in the future to pay interest on the money we spend today. Their long term planning is to let the kids pay for it.

You obviously follow the Keynesian school of thought when it comes to dealing with economics and that's why you were blind to see this mess coming and why you're foolish for wanting it to continue with more debt while we go into a period where the most productive segment of the population (the boomer's) begin to retire and stop producing productively and become a drain on the entire system. We don't need more debt going into the boomer retirement cycle... that will only hurt worse in the long run.

On Apr 01 07:33 PM Promod Radhakrishnan wrote:

> Nice article..i agree we need to make a long-term move towards a
> balanced fiscal strategy and work our way up the savings ladder.
> However, the current crisis is unforeseen and of enormous proportion
> - and hence the need for seemingly counter-logical interim steps
> to pull us out of the rut before we can work on a longer term strategy.
> As long as the current administration does have a medium-to-long
> term strategy of balancing the budget, we can very well live with
> an interim fiscal deficit brunt.

Time to Cautiously Get Back in the Game

There are definitely some bargains out there for those really looking. That said, the fundamentals still look shaky. There is still plenty of downside risk. The layoffs have just begun. Caution is advised.

Where Was the Inflation?

"And as every amateur economist knows, vast expansions in money translate to inflation- right? Yet, inflation was very much in control in this decade- increasing only slightly from a minimum of 1.6% in 2002 to a maximum of 3.4% in 2005, and then lower in 2006 and 2007."

The vast expansion of money ended up inflating the price of homes! Most of that vast expansion of money was people taking on massive mortgages and bidding homes prices up! My parents home value almost doubled in one month! That's where the inflation went during this last round of money expansion. Only if you were blind could you have missed it.

I can't afford to buy a home due to all the home price inflation in my area. Now the home prices are starting to come back, but in my area they are still far above what they have been historically. Until they come back, the inflation in home prices is preventing me from buying a home. Don't act like inflation didn't occur - it did. You must have already owned a home and so it didn't affect you the same way it would a new immigrant or a 22 year old straight out of University with degree and student loans to repay. It's easy for me to see the inflation that was occurring, I would have to be blind not to see it.

Fiat Money and a Profligate Congress: A Bad Combination

I can't see politicians enacting legislation preventing them from spending money. Even a return to the gold standard wouldn't work unless they also stop FRACTIONAL RESERVE LENDING.

I would be in favour of such spending limitations. It seems like most states are going bankrupt at the moment and they are raising local taxes like there is no tomorrow...

Confessions of an Austrian Economist

I'm with smarty, every word of what he said from the Austrian economics not being taught to the fact that natural climate change vs. man made global warming is never given a thought! Our schooling, our education system, it's all lame. I'm a product of it. They only teach you what they want you to know - that much is crystal clear to anyone that thinks a little more independently and critically.

Austrian economics is the solution to this problem (this situation would never have arose under the Austrian system, so the Austrian system wouldn't need to worry about correcting it in the first place!!!!!!) BUT IT WON'T BE WITHOUT SEVERE PAIN. There is no way around the pain. The problem has been Keynesian economics all along. We never stopped using Keynesian economics and it has taken us too far off the real economic path - the proof is in the pudding and one need only look at where we stand today to see we got into problems with debt. It's almost like we applied Keynesian economics to our personal lives and were told we should all go out and personally get big loans and mortgages and buy consumer items we don't really need in order to "prop" up the economy. None of that was sustainable and to think more Keynesian economics will fix this is absolute nonesense.

The little guy can't get more loans to keep propping up the economy - and with many nearing the age of retirement it was going to come to an end anyways. No one in their right mind will take on more debt when they retire in just 5 years or less... People near retirement don't have future earnings to borrow against and now they don't even have much in the form of retirement savings either... the Keynesian system died but some are putting it on life support and giving it steroids hoping it will pick back up to prevent any pain.

The author was never a true Austrian economic believer or he would see how we NEED to get back to that and stop screwing around with Keynesian policies that never work - but only just buy time by passing the buck onto the next generation such as a pyramid scheme... the beauty of the Austrian system is that we would not be in our present mess had we used it. Using more Keynesian economics will not solve the problem either. We need to go toward Austrian economics - failure to do so will result in an eventually crash - it might not be this decade or this century - but it will happen as soon as the population stops growing. Infinite growth is not possible and not sustainable.

I'd rather have some severe pain or crash now and get it over with than delay it and end up with an even bigger crash later on. Keynesian economics died. We just don't want to admit it and hold the funeral. The truth hurts. You can't handle the truth! lol

Why Would Anyone Buy T-Bills at 0%?

Hey, why don't companies just lend money to other companies for 5 to 10% rather than stuff stuff in a T-Bill at 0%? Cut out the middle men, lol?


On Dec 11 01:53 PM Dividend Growth Investor wrote:

> I wonder if there are alternatives to large companies to open hundreds
> of CD's in hundreds of Banks instead of purchasing 0% yielding products..

Obamamania vs. Reality Bites: Tensions Establish Historic Short Window

"Wouldn't it be more productive to focus on what we can do no
> rather than complain and say "wait until 2012?""

You are correct. We should be worried about implementing a plan now for each of us - our own individual plans of what to do. Problem is, the people often look to their leader (Presidents) to implement any such plan. It wasn't always this way. America used to be full of great independent people that wouldn't wait around for their leader to save them or implement plans.

I guess there are still a few of us - those of us that plan ahead for many things. Plans are needed:
-retirement plan
-savings plan.
-health plan
-emergency survival plan (in case of natural disaster etc, ----- too bad more of those that went through Katrina didn't have a plan)
-food plans
-protection plans
-etc, etc

People should have been paying off their loans years ago instead of buying the latest electronic gadget or buying a new car when the one in the driveway is only 8 or 9 years old and in good shape. People should be starting small businesses that provide real goods and services. Too many people work in jobs that don't actually accomplish much.

As I stated in my comment above - Obama's plan to build roads won't really work out that well. I'm sure his intentions are good, but he's a politician. It is especially disheartening considering that many of the other roads we have built in this nation have, after we paid for their construction, been sold off to foreign private companies for a bargain who then erect toll booths. I'm really hoping that stops. (like Cintra)

Heres something to watch. Out of all the massive programs that get funded, watch how many of them later get sold off to private corporations that are controlled/owned by foreigners.

Many of the states in the union are having big financial problems and can't fund repairs on the public infrastructure they already have in place... watch for many to be sold off to private corporations controlled by foreigners who then erect tolls/fees. When you can no longer drive freely from one place to another within your own country without paying foreigners - then you know things are bad.

On Dec 11 01:14 PM Tad Gage wrote:

> Certainly Rakesh makes some interesting points. Much is uncertain,
> as we've never faced something quite like this. In this economic
> situation, I see few parallels to the Great Depression except for
> the fact that, like the depression, it was nurtured by a incompetent,
> do-nothing Republican administration filled with yes-men and yes-women
> who legislated where they shouldn't (Sarbanes Oxley) and failed to
> oversee what they should have been (corporate financiers, runaway
> derivatives, etc.). The comments surprise me, especially on this
> site. Wouldn't it be more productive to focus on what we can do no
> rather than complain and say "wait until 2012?"

Is America on a Downward Slope?

The 8,000 conservative banks don't need a bailout.

"ARE WE SAVING THE RIGHT BANKS"

We shouldn't save any banks, or any companies. Period.

" The pundits on CNBC were thrilled that clueless Americans ignored the worst recession since the 1930’s by spending more money they don’t have, for things they don’t need, with credit cards charging 23% interest."

I agree! We spend too much of what we down own to buy things we don't need and probably won't have in a few years. Why borrow against your future for junk?

I LOVE THE QUOTES you provided! I'm bookmarking you, because you obviously put some hard work into your writings in terms of some background research. This article wasn't just 5 minutes of work.

Obamamania vs. Reality Bites: Tensions Establish Historic Short Window

"But all the financial indicators suggest that the US economy is going nowhere in a hurry unless it undergoes a thorough across-the-board contraction"

Amen!

I must also concur with what CLH said.

BTW, how are these blue collar jobs supposed to help those white collar workers who now find themselves without a job? Or how are these blue collar jobs in road construction going to help any northern state in the winter?

These aren't permanent jobs and they add no economic value to the US in terms of economic output. It's just further spending money the country does not have in hopes that these same unemployed people spend their money and create jobs? Huh? This will be so spread out that no one community will be completely reinvigorated nor will it last anyways.

If consumer spending is 70% of GDP and it's eroding very fast and dramatically, how damn big would Obama have to make his stimulus programs to do anything? Would he have to double the US budget? (please no!)


Who pays for this again? We act like politicians, like Obama, are saviours when really they are only promising to spend our money for us... how quickly we forget where they get the money or who will end up paying it back.

So, Obama's bright idea is to take on more debt or print more dollars to build roads? Then when our states sell the roads to private companies and implement tolls, we'll see how many ways this stimulus can screw us in order to temporarily create a few jobs while giving politicians the appearance of "doing something" to "save us", neither of which they should be doing to begin with. We want someone to ride in and save us, and we'll get someone that will pretend to do just that. I thought Hollywood was in California - but maybe it's moved to Washington.