Permacritical

The Greatest Depression Is Coming

VennData you idiot - why would assume the BLS labors over statistics. This shows that you are stupid or wrong by itself. Who EVER heard of hardworking bureaucrat? I am sure there are some of them, but how do they feel knowing they are part of the problem and not the solution? Venndata, Karl Marx is your lying sack of crap hero!!!


On Oct 17 08:33 AM VennData wrote:

> "Shadowstats.com estimates unemployment is above 20%" Oh, I see.
> Than it must be over 20% All those BLS statisticians toiling under
> administration after administration are engaged in one huge conspiracy
> and only one guy at Shadowstats has all the answers.
>
> And you're really collecting some great data to support your "The
> Middle Class is holding on for dear life." meme.
>
> Put the tin foil hat down.

Why Stocks Will Collapse This Fall

I lived in California twice. I really like the place visually and conceptually, but normal people can't afford it thus I rejoice when they fall and all those state, county, and city employees get axed via outright job loss or drastic cuts in their easy street benefits, especially the cops.

Our Nation's Risk of Default

Great and to the point

We Can't Rely on the Fed to Prevent Inflation

An important point to make under the velocity of money or the multiplier as the author states is that we can have an increased multiplier in the restaurant example but if all that money velocity gets blown on consumption then all we have is a worthless service, retail, and information economy. More than likely the consumption is based on buying things made in other countries, particularly when American companies' credibilty have taken a huge kick to the yarbles. Inflation is seen most acutely in the downsizing, outsourcing, and exporting of our jobs overseas. American make decent enough cars, but the main reason they lose is because their cost structure is so much higher than other companies and they are not open to changing that, even when faced with no job at all. This is amazingly arrogant and greedy, that sense of entitlement. Fine - you have no job now! How do you feel!?

Sucker's Rally Approaching an End

How can you write an article like this, which I basically agree with the intellectual and predictive tone of and then state that the government intervention was too little too late. What are you some kind of Stalinist? Just when you think someone is smart they haul off and make a dumb ass comment like that. I question your sanity!

Sucker's Rally Approaching an End

How can you write an article like this, which I basically agree with the intellectual and predictive tone of and then state that the government intervention was too little too late. What are you some kind of Stalinist? Just when you think someone is smart they haul off and make a dumb ass comment like that. I question your sanity!

Recent Policy Decisions and a Greater Depression

Great assessment. You must be acquainted with Peter Schiff.

The Bailouts Are Doomed - All of Them

Okay but again you are blaming the free market and not federal power in your conclusion. Unfortunately you are not part of the solution but the problem. Hopefully people don't read your article to its conclusion. Pin the blame where it belongs, it makes a difference in what happens going forward. If the free market is to blame, then guess what - we get more regulation from those who directly feed off of the free market - aka. parasites. If it is the government, then we get the solution - LESS GOVERNMENT and a REAL DIFFERENCE!!!! Choose this day whom you will serve!

Congress Considers Bailing Out Its Ethanol Mistakes

This just proves that the end is near and that the whore, Bob Dole, is more of a liberal than Karl Marx. This is the heighth of incompetence and idiocy and exactly the reason why corporate welfare is unconstitutional. The incompetence knows no bounds. What does Congress do for an industry that it created from corporate welfare? Bailout the mega losers! And this crap was all passed based on the lie that we are saving the family farm - blah blah blah. The family farm was destined for failure in an environment like this. These losers need to die before the auto industry losers. Bob Dole - WW2 hero and disabled vet but mega loser whore with no integrity!!! What a life? How does one face God with that on your conscience? I might not be rich but I have a clean conscience.

Cramer Is Right about Ultrashort ETFs

This is where being a little naive, as in my case, benefits me. Why would you ever "buy and hold" a 2x's leverage bear ETF for 18 months? The major benefit is going to come from those few days when the market tanks and then you may as well get out of it. I am not an expert by any means, but SKF did me great when all the bank disasters hit and I never held it for more than two weeks. Unless you absolutely don't need the money or can handle volatilty, this market almost forces you to day trade or time the market. I've learned more about stock movements and underlying commodity markets in the last 6 months than I have in my previous 46 years because I now watch it every day. This is a great time to jump in and out of stuff like this. I am only down 20% on the year and with most of the rest of my money I am long on oil, gold, and silver. This should at least get me back on track to where I was at the beginning of 2008. I understand the concern with these and I have seen less responsiveness lately. Financials go up 4% and SKF goes up 6%. Small ripoff, but its better than 20% - looking on the bright side anyway.

Surprising Call for Return to the Gold Standard

Correct! but Herbert Hoover and FDR counteracted a recovery via public works, deficit spending, price controls, restrictive tarrifs (which always fail and are counterattacked with corresponding tarrifs on the other side) and outlawing the ownership of Gold. FDR was no different than Herbert Hoover - he was just on steroids in terms of spending. Why is Gold so wrong if you live in a free market? That is because you didn't live in a free market then and you don't live in one now. When we experience the same said problems in the 60s the deficit spending of Vietnam and the "Great" Society - same responses deficit spending, wage and price controls, but worse no more gold standard. The gold standard doesn't promise perfection, but it does promise a restraint on spending which clearly you do NOT have now. Highest wage earners in the country (UAW paid not to work) whining for welfare - RIDICULOUS LOSERS! Flush them down fast!

On Nov 19 04:04 AM The hand wrote:

> no wonder we are screwed up. if mr. Driscoll thinks that bubbles
> can be prevented by going to a backed currency i have a bridge to
> sell him in brooklyn. i would like to remind Mr. Driscoll we were
> on a gold standard in 1929.
>
> i too fear the boom/bust cycle. it will come from energy if the economy
> lights up again as we will not have had enough time to implement
> alternatives (if we have not forgotten about this subject totally
> by then).
>
> bubbles are part of capitalism.
>
> whether the currency is backed or fiat, the problem we are faced
> today are politicians and bureaucrats who are acting irresponsibly
> while they are administering our financial system.

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

The $73 cost per hour stated cost is benefits included, etc., but still a very real number and why we can't compete. Let them die. This is not a new problem it has been going on for decades. Americans were never great at buidling great cars, we just made alot of cars first and cheaper for a long period of time. Was it realistic to think that GM was going to keep its 60% market share back in the 60s, much of their perceived decline is related to the consumers wanting more choices. For the last 10 years or so the auto companies made more money off their financing arms rather than their stinking cars, like this was going to last forever too! How hard could that be in the midst of a credit bubble, everybody made money off free credit or leverage money. You would have to be stupid not to, but naively short sighted to roll it into your business plan. It some point American car makers were going to have to make cars at profit or die. The rest of the world caught up to us while our labor unions made the rest of the country feel like their people who tightened nuts and bolts were entitled to a huge paychecks, benefits, and a sweet pensions. It is comical that they are still so stupid as to ask for a bailout for their retired employees ahead of survivabilty of the company. They are staying true to their mobster roots. The Feds are such political whores and liars (Dems & Reps) they'll still give it to them. Without true change in these people, and we haven't seen any in decades, they will die with or without a bailout, hopefully without one so that they die a quicker and more efficient death. They are most deserving of everything they get.

The Myth of Wall Street

Don't demonize the free market! The buyer must always beware. I would not have a problem with full disclosure for everyone, but unfortunately the IRS and taxes exist and honest people are punished and deceitful people are rewarded. Who wants to be honest in an arrangement like this? Anybody? Anybody? The market is simply responding to the confiscatory role that taxes play in our society. It is a good thing that people hide their money so that they can keep as much of it as possible. This is what makes people wealthy, keeping our money not letting someone else take it. The government takes it and pees it away on the Ponzi Scheme of Social Security and other such tripe that adds no value. The 16th amendment is immoral, reprehensible, breeds deceit in our society, and is certainly and patently unconstitutional. The market is much less corrupt than those who make our laws, because it is forced to submit to it whenever it comes knocking on the door. The government is never forced to submit to it. The worst that can happen is that they lose their overpaid and underworked job, eg. Nixon and that A-hole Spitzer, but they'll make more than their state salary writing books and granting interviews. In conclusion full disclosure is great for everyone, just get rid of taxes and we'll certainly do our part to be honest. Then again without taxes the motivation for being deceitful seems to evaporate - funny how that works isn't it. If you treat the market right, then it will treat you right. If you treat it wrong, it will turn around and bite you in the A when you least expect it. The ones with the highest motivation to lie are the rich, becuse duh - they have the most to lose. Most of our problems are really quitre easy to fix when you think about it.

A Capitalist Reformation

Agree wholeheartedly! Another media type afraid to call things what they really are. Capitalism is almost dead and socialism is firmly in place. Hybrid 21st century capitalism is merely creeping deceitful socialism, lets not be cowards and start calling things what they are. Any government program has the paradigm "take from everybody, give to a few, while the bureaucracy takes their 60% off the top. Everybody wants their piece of the action and why not everybody pays for it, the rich, middle class, and poor! When the dollar dies nobody will care about anyone but themselves. As Government jobs increase real private sector and actual production declines. This is why the Feds have systemically blinded our eyes by removing M1 money supply data, secretly entered service and loan data into GDP numbers, and show governments jobs as jobs created. For many years we always looked good with these numbers as our private and public debt was leading us down the primrose path to Hades. They voted themselves pay increases during the so called "boom " years for a job well done. They take credit for the booms and demonize capitalism for any failures. The response is more government control as if they were the only unbiased entity in the economic food chain. When people get punished for saving by paying high taxes on dividend income and rewarded for going into debt, then this is a 100% government created problem. They have masterfully marketed themselves as the saviors once again and the stupid American public has bought into it hook line and sinker. In the end I hope I can keep my wife, family, and home. The true capitalist only needs the gun and gold. To hell with all the liars and those that would use this country's wealth to enrich themselves. Mainland China is more capitalist than this place!


On Nov 06 10:14 AM cgr wrote:

> You are obviously not a Reagan Republican. The system that you are
> criticizing is socialism not capitalism. Socialism creates public
> debt. Capitalism is not premised on greed but rather on voluntary
> mutual exchanges. BTW, the US still produces over 20% of the worlds
> good with only 4% of the world's population.

The Shallowest Generation

I concur we are all to blame, but in particular the "greatest" generation - more appropriately the WORST generation for creating the ponzi scheme of Social Security, which as yet has gone unfixed since its origins. How can a generation be great that votes themselves a giant pay raise being the main beneficiary. You call this sacrifice! How can a program be consider great when it constantly needs fixing, the main fix being constantly needing more money. The ones that sacrificed were dead prior to 1945. The ones that lived, lived off the fat of the land. Since most of them were drafted it was not a volunteer army either. Clearly they are closer to the WORST generation than the "greatest" generation. Since Tom Brokaw coined the phrase, then it must be load of crapola.


On Nov 02 07:02 PM moonbat1775 wrote:

> I blame the generation that allowed the Federal Reserve to be created.
> It has been downhill since then.
>
> The Fed:
> 1. Financed WWI.
> 2. Caused boom of the 1920's that led to the Great Depression
> 3. which led to huge social spending
> 4. and WWII
> 5. which killed over 50 million
> 6. which led WWII generation to think they were special.