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ebworthen

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  • The Greatest Depression Is Coming [View article]
    Politics is the distraction.

    Our lifestyles are leveraged 30-1 against the laws of nature.

    Our societal fabric is unraveling; and it's economic foundation a gigantic ponzi scheme using a fiat currency, vampire financial institutions, dependent underclass, tyrannical upper class, and a dissapearing middle class.

    How that leads to a real recovery in markets, the economy, or life in general I can't fathom.
    Oct 17, 2009. 02:09 PM | 47 Likes Like |Link to Comment
  • Charlie Gasparino: Another Crash 'Has to Happen Again' [View article]
    Refreshing - thank you for sharing.

    They actually should have let them fail.

    Rather than "save" them with interest free money from the taxpayer; the government should have not backstopped them.

    Then the trillions in liquidity could have been given to the banks and firms still standing.

    Punishing bad behavior and rewarding conservative management and prudence.

    Instead - we have rewarded bad behavior, Charlie is spot on.

    Those animal spirits like being rewarded.

    The "Ouroboros" end to a lack of adult behavior will be a collapse.
    Nov 6, 2009. 01:38 AM | 42 Likes Like |Link to Comment
  • Shiller Now Sees Double Double-Dip [View article]
    It's been a continuous recession, abated only by perception, bailouts, and FED measures to reflate the markets using yet to be earned taxpayer dollars.

    Where will the jobs come from? Temping for attorneys? Working the tables at Chili's or Denny's? Where is career employment going to come from in this climate?

    I am confident I could be trained to do almost any job in the nation but I can't move. I'm a divorced Dad with joint custody; if I move, I lose my kids, and that is not going to happen. I know I am not the only Man or Woman in this position either.

    Costs are too high. Healthcare, taxes, fees, housing, insurance (less and less like insurance every year), regulations, laws, etc. Much too high for companies to commit to employees and the money offered if you can find the job not enough to pay the bills.

    We have created a bubble out of the entire economy, the whole social structure, and it is unsustainable.
    Aug 12, 2010. 04:34 AM | 39 Likes Like |Link to Comment
  • The High Probability of an Irrational Gold Bubble [View article]
    Yes, there was never a circumstance where people needed paper bills filling up a wheelbarrow to buy a loaf of bread.

    Who needs those silly tangible assets?

    All you need is that promise on that piece a paper, issued by the same people who robbed your pension, retirement, savings, and your children and your children's children's future earnings and livelihood for the sake of speculative bank holding companies, hedge funds, insurance companies, and failed American corporations, foreign banks, and governments.
    Jun 10, 2010. 12:31 PM | 39 Likes Like |Link to Comment
  • The Velocity of Money and Its Implications [View article]
    We didn't save America, we saved the banks.

    My responsibility, my lifetime of paying my bills, honoring debt, investing in American companies, and paying taxes to my nation were SPIT upon with the bailouts of the banks and corporations.
    Mar 14, 2010. 03:56 PM | 37 Likes Like |Link to Comment
  • Global Markets in Review: How Much More Upside? [View article]
    Everyone wants to believe that we have avoided disaster.

    No one wants to believe that the real disaster is around the corner.

    I don't see how the Asian economy, which is partially dependent upon Western consumption, could survive a sustained drop in our spending.

    I don't see how our level of spending can continue, considering the levels of individual, municipal, state, and federal debt.

    I don't see how the market will continue to go upward when the reality of increased rates, taxation, regulation, foreclosure, and default ensue. I really don't see how P/E ratios improve when people constrict spending due to said increases.

    I CAN see how the equity markets have rebounded 67% from the March lows with trillions in liquidity and backstopping combined with buckets of irrational exuberance.

    I don't believe the market is signalling 1982-2000 or 1949-1965.

    I believe we will be lucky to relive 1965-1982 in the next 17 years.

    Our current moment in time appears to be a forestalled 1930-1932.
    Jan 10, 2010. 05:17 PM | 33 Likes Like |Link to Comment
  • We're Living Through the Best of Times [View article]
    I wish I had that optimism.

    I see a decline in the societal fabric, especially the natural family.

    Perhaps morality and ethics were always in the sad state they are now, I don't know, but I don't believe so.

    The house of cards we have built is we have moved from an agrarian populace with burgeoning and innovative industrial centers, to a service and consumer populace with declining industry - other than gaming and defense (or space). Somehow, I don't see a mission to Mars improving our moral fabric.

    The majority of our inner-city and suburban population are completely dependent upon the government, the grocery store, and the microwave.

    Physically, emotionally, spiritually...we are so far separated from Huck Finn, Lincoln, and Washington, even JFK...that our ethics and morals relate to the compassion of politicians, government appointees, news anchors and bank presidents rather than the accomplishments of individuals. The generations one or two steps ahead of me don't seem to see it, or want to.

    I don't think the current generations would survive WWII, a true Depression, Civil War, or War for Independence. They would embrace the taxes and servitude for the security of allegiance to the King.
    Oct 25, 2009. 01:26 PM | 30 Likes Like |Link to Comment
  • The Greatest Depression Is Coming [View article]
    Good point, not all the upper class is tyrannical.

    The problem comes when those who "make it" become actively or passively blind to the plight of the middle class.

    Economic and political policies punish median income savers and the responsible, reward irresponsibility, and leverage it for votes and favorable policy.

    The AMA, the legal establishment, the politicians, the financial oligarchs...the majority all look the other way or espouse concern when all they are really doing is biding time until they get what they need from the game.

    Lip service is paid to the rights of the individual, the ethics of a cohesive society, and the rule of law; however, the reality is the KELO Supreme Court decision rescinding personal property rights, the bailouts, the subsuming of bond and stock holders for expediency and profit (WaMu, GM, etc.), government ownership and free money to benefit those who created the losses in the first place.

    The collusion of a corrupt government and financial institutions with a complicit legislative branch is slavery with a garnishment of parsely neck of the average citizen yet heralded as the laurel crown of liberty and self-determination.

    No doubt the French nobility pictured themselves as benevelont humanitarians and their peasantry as a contented mass of free and well fed citizens before reality was brought to their necks. The tragedy was that the good nobles died along side the wicked.

    If we don't fix it now peacefully, it will fix itself later violently and many innocent and good people at all strata of society will suffer.

    On Oct 17 02:38 PM Jasper M wrote:

    > EXcellent article. Not flawless, but very, Very timely.
    >
    > I finished reading it with all sorts of things to say - but the crowd
    > of commenters above mostly covered all the bases. It seems I have
    > become superfluous. : (
    >
    > I will say, to ebworth, that not All of the upper class is tyrannical.
    > I, for example, pay my taxes, don't take or solicit government handouts,
    > and mostly tend to my own knitting. I ask nothing from my fellow
    > man that I do not expect to pay for, save honest behavior. And if
    > I am not rich enough to be "upper" in your estimation, then the middle
    > is not disappearing quite so fast, is it?
    >
    > At the risk of seeming cold-hearted, it seems to me that any disappearance
    > of the middle class is substantially self inflicted, from acceptance
    > of the advice of debt-mongers. My instincts, honed from years of
    > poverty, pointed in another direction, and now I'm Just Fine.
    Oct 17, 2009. 03:22 PM | 30 Likes Like |Link to Comment
  • Is the Market on the Verge of Collapsing? [View article]
    Thank you Thomas, good article and succint.

    You said:

    "One more thing that is clear now is that government stimulus is for Wall Street, not for Main Street."

    Exactly.
    Jul 13, 2010. 06:42 AM | 27 Likes Like |Link to Comment
  • Just Say No? [View article]
    I think Wisconsin is about more than Unions; and I think the election results were about much more than the cliched tea party portrayals.

    People are saying "just say no" to bailing out banks, insurers, corporations, and just about anything other than doing right by the working individual or household.

    Governments want "austerity" and reductions in promises made over the past 30 years from regular folks? Really?

    Where was this "austerity" when Wall Street came begging Washington, top hats in hand, gold cufflinks glittering, as they knelt in front of their CONgressional cronies whose hands they had greased with campaign contributions only a couple of months since?

    Now they are telling everyday folks that they have to pay more for insurance, healthcare, pensions, taxes, etcetera, etcetera, etcetera?

    Neither the Demicans or Republicrats get it. Both sides have sold out the American family and there will be hell to pay and I don't mean in profits or elections.

    They can keep flashing their robes and waving their scepters but the elites have something coming they are not expecting.
    Feb 23, 2011. 04:35 AM | 24 Likes Like |Link to Comment
  • Unemployment Report Proves We're on the Wrong Track [View article]
    1. No bailouts period. In fact, claw back every cent because it amounts to nothing more than theft of our children and future generations.

    2. End crony capitalism and corporate socialism (the Kleptoligarchy). Yes, it will have to be violent in order to work I am afraid.

    3. Restore the rule of law, e.g. - if you go bankrupt you lose everything, there are no mulligans. If you securitize someone's mortgage and profit from it then you lose and you do not have a right to said mortgage or being bailed out by the citizenry. If an individual buys a home or property it is theirs and cannot be taken away by the city and an investment firm, pharmaceutical company, or developer simply to increase tax revenues.

    4. Remind every Judge, Politician, Banker, Lawyer, Insurer, Economist, and PhD that if the rule of law is not upheld for the individual it has no meaning beyond the individual. In other words, if you rob me I can rob you, and if the masses have no rights the leaders lose their right to their heads.
    Jan 7, 2011. 12:23 PM | 24 Likes Like |Link to Comment
  • The CAT Is Out of the Bag: No Economic Recovery to Be Seen [View article]
    Meridith Whitney pointed to the obvious in an interview with Maria Baritoromo on CNBC this afternoon; I am paraphrasing what she said:

    "Small businesses and the American consumer don't get money at 0% nor did they get bailed out, they have been knocked on their rears and are still there, using credit cards and home equity to try and survive."

    Yup.
    Apr 26, 2010. 05:00 PM | 24 Likes Like |Link to Comment
  • U.S. Government's Road to Perdition [View article]
    Spot on.

    I'm afraid it is too late for polite conversation and merry go-round voting and politics. I have lost all faith in Congress, the Courts, and politicians and leaders of any stripe. They demonstrated with the bailouts that their allegiance lies with themselves and their cronies and contributors.

    If we don't take physical action to rebel against our corrupt government and financial markets our children will be indentured servants or at war for someone else's freedom and profit.

    We can start by taking our money out of the ponzi scheme banks and economy, no stronger vote, and the only one left in many ways.

    Start with peaceful civil disobedience and peaceful protests that don't involve politics or left or right.

    This is not about politics - this is about our freedom.

    We can be slaves in our own homes as long as our government is in collusion with corporations and governments of other nations to tax and fee us into dependence upon them.

    We must tear the system down because it is utterly broken.
    Jan 4, 2010. 03:24 AM | 23 Likes Like |Link to Comment
  • Coming Soon: Banking Crisis of Historic Proportions [View article]
    Dude.

    The politics angle is old hat.

    Politics is the distraction.

    Obama will not save you any more than Ben Bernanke, Stalin, or the Tooth Fairy.


    On Aug 16 10:34 AM 6343escortsr wrote:

    > THANK YOU MR. BUSH AND #$%^& REPUBS.
    Aug 16, 2009. 03:22 PM | 23 Likes Like |Link to Comment
  • The Sunday Times of London reports the expected aid package for Ireland will reach €120B ($164B), more than double previous estimates and larger than Greece's bailout. The package, which could be unveiled as soon as tomorrow, will require the country to raise taxes and nationalize more banks.  [View news story]
    Taxpayers of the world bailing out banks, failed companies, and politicians; who then turn around and raise taxes, reduce already taxed and promised entitlements, and "nationalize" the banks whose CEO's get millions in bonuses as if they ran a successfull private bank.

    Does this make anyone else furious?
    Nov 21, 2010. 12:56 PM | 22 Likes Like |Link to Comment
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