scootie2008

Punishing the Savers in a Savings Poor Country

Who? The wealthy? what is the solution to dismantle the US government? This country of laws is the best tool we have, can't you see that? don't you vote? maybe you should run for office and put us back on track?

Pining for a gold standard or some Mises-ian ideal is not productive. the world has real inequalities and I am not talking about 'liberties' squashed by the government boot in the form of low yielding CDs.


On Apr 02 03:30 PM PainfullyAware wrote:

> You obviously have no understanding of what Government has become
> in America.
>
> I know of no one that feels represented by the Fools In DC. It Is
> Blatantly Obvious Whom They Serve.

Punishing the Savers in a Savings Poor Country

the people and the government ARE THE SAME THING.

It is YOUR boot

Punishing the Savers in a Savings Poor Country

living off the fat of the land is over.

boo hoo, rich people cannot live off their "savings" anymore.

inflation is caused by credit expansion that is fueled by "letting them use your money" to "seek alpha".

Geithner's bank detox plan will fail, Nassim Taleb says. "I want an overhaul... this is not it." Author of The Black Swan: The Impact of the Highly Improbable says he's sick of subsidizing corporate failure: "Taxpayers take the downside and Wall Street as usual is going to take the upside..."

“Why don’t we allow people to mark their house at what they think the value of their house is?”

good analogy

The Great American Hole Gets Deeper by the Day

I'm saying Jim Rogers caused the economic collapse MORE than my 9 year old son or my future grandchildren, that's all.


On Mar 06 09:42 AM plumstupid wrote:

> What? Are you saying Jim Rogers caused the economic collapse? <br/>
>
> As for leaving and not having to pay: Why would someone have to pay?
> And, why be angry at Rogers for that. How about Aronson? You remember
> Aronson don't you?
>

The Great American Hole Gets Deeper by the Day

"And by “Washington,” I of course mean you, me, and most all our anticipated descendants."

can't we all just walk away like Jim Rogers? What is it to be American, if someone can just leave without having to pay for the sins of the past that created an environment where they prospered?

Sickness May Be the Cure for the U.S. Economy

"It is widely recognized that the basic cause of today's financial and economic crisis was pressure by politicians to 'encourage' banks to make oversized loans to under-qualified homebuyers."

bull$hit

Russia About to Default on Sovereign Debt (Again)

The third rule of sovereign debt is:

'If a sovereign says "stop" or goes limp, or is tapped out the borrowing is over.'

Russia About to Default on Sovereign Debt (Again)

the second rule of sovereign debt is:

"we do not default on sovereign debt"

The Shedlock-Schiff Affair: A Chronicle

Schiff called the collapse but what happens after is still open for debate. Even if he is proven right in the future if his timing is wrong he won't profit. "The Market Can Stay Irrational Longer Than You Can Stay Solvent"


Also in response to:

"Look at it this way.

Two businesses went out of business:

Asia (who has money in the bank, savings, burgeoning industry)

Western Civ (who has debt at every level, no savings, collapsed industry)
How does this end up?"

Look at it this way, we exported pieces of paper, and they exported pieces of plastic. Do you really think that excess TVs and Pokemon action figures or other lead painted toys constitute 'value'? The excess crap that the leveraged borrowers were buying was non essential and in a down time it will be worth less or worthless.

Let's Have Inflation

Fine critique BS Detector.

Long-Term Crisis Remains Strong

Your items 2 through 5 are the same issue from different angles; the US financial position.

Inflation and devaluing the dollar are the same. Manipulating the value of the money is not working. We have an unprecedented financial crisis and the “easiest” money ever. Money is being poured on every bank. Where is the inflation that everyone is so hyper about? Why is the dollar so strong?

The US owes a lot of money. The options are: pay it or default. Default = collapse of the world financial system.

Democracy is fine. Obama will be sworn in tomorrow.

Obama's 'Buy American' Plan May Meet China's Export-Led Growth in 2009

[Jonathan Christopher] good comment...... China is the biggest EXPORTER and our BANKER.

Housing Gets Even Worse

Some calculators also value [on the rent side] the saved down payment and saved excess monthly payments as invested with a 7% return over the life of the note.....that needs to be rethought as well.

It should be becoming clear that the government cannot put a floor under any of this. Sure we're doing all the stuff the FED did not do in 1929 but that does not mean it would have worked in 1929 or now.

The Deflation Scam

Iowa515:
So... B of A is the Illuminati? "They have had hundreds of years to perfect how to steal our money ". As far as I know, no one has lived for hundreds of years….
No offense [really, I appreciate the civil discourse of this blog] I don't buy the grand conspiracy theory. It would be great if it were so; then we would have proof that a determined set of powerful people could actually pull off something grand that they had planned. On the flip side, I do agree that certain moneyed interests are very powerful and do things we don’t know about and the government and others are always to some extent watching us [or some of us, like Mr. Blagojevich]. But to what end? So that finally they can hatch their evil plot of collapsing all the institutions that they supposedly control to hole up in Ayn Rand’s secret money-mountain-gated-r... [a la Atlas Shrugged?]?
Isn't it possible that over millennia we have created, by many hands [visible and otherwise] a human society that has moved forward in fits and starts but that has certainly moved forward?
The linguist Steven Pinker [www.ted.com/index.php/...] in arguing that we live in the LEAST violent time in our species history suggests that one reason that we may perceive that we are in the MOST violent time is that the change in our standards outpaces the change in our behavior so that [he argues] while violence has decreased our tolerance of violence has decreased at a faster rate and it appears that we are more violent. I think this is correct and the same is true with what is happening with our global economy. Notwithstanding the greed and malfeasance of many people in positions of trust, never before has the global economy been so just [even though it appears not fair as I argue above], so robust, so powerful, etc. We have done a good job in spite of many mistakes and although the future has great challenges, we are in the best position to meet them than we have ever been.