Yurasis_Dragon

In an op-ed this weekend, Ben Bernanke worries about leading proposals in the Senate that would strip the Fed of its powers: "These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the U.S."

Bernanke said:
"These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the U.S."

Yes, the first half of this statement I believe to be true; however, one could easily substitute the words "pimps" or "drug dealers" or "mafia's" for the words "central banks" when it is those entities whom are speaking on their own behalf.

The second half of the statement is just plain false. Whom else has caused the damages to date, decade after decade? It is the illegal Federal Reserve/Central Banks themselves.

Remove their power, put it back into the hands of Congress, hold THEM responsible (as the Constitution states- at least they are elected by us) until a fair and honest audit is completed- THEN decide what needs to be done.

And don't forget we have the RICO laws (Racketeering Influenced Corrupt Organizations) that can be used against them!

The Greatest Depression Is Coming

The Military consumes upwards of 50% of our yearly expenses.
It is simply an arm of Corporate America.
Do we REALLY need 780+ military bases world-wide?
Do we REALLY think that spending $1,000,000 per year, per soldier in Afghanistan is going to achieve MORE security than, say, using that same $1 million to put 50+ people through college every year?
Why is the DoDefense a Sacred Cow? What do we, the citizens of USA, gain from the hundreds of billions spent yearly on war and defense?
Everyone believes that there is massive waste in the DoD.
Slash spending there in the Military/DoD; close bases world-wide; demand efficient spending of $$ or close the purse!


On Oct 17 03:43 PM SPOTS wrote:

> We cannot pay off the debt! It is too massive, and anyone who says
> we can hasn't run the numbers, is outright lying or is just listening
> to some other clueless mouth or liar. I've studied every set of "real"
> numbers, government and private I can find. Then gone over and over
> them again. My 2 year old grand daughter will live in a busted, highly
> taxed, high interest rate country, financially controlled by foreigners.
> I hate the facts, they make me literally sick, but I see no way around
> them.
>
> There are some real out of the box ideas floating out there, all
> with massive unintended consequences and without sufficient numbers
> to run charts and series. I don't even remotely agree with any of
> them for moral reasons, but the authors do see the extent of the
> problem. Because Social Security, Medicare and the Military are 75%
> of federal spending, the ideas are all so contra-social that short
> of civil war, revolution, or worse they won't happen. Examples are:
> 1. Printing enough money to pay of the debt. (COLAs everywhere would
> have to be eliminated first, and the countries that own our debt
> would have to be so convinced by demonstrable poverty that they'd
> see we could never pay them back with real money - or they would
> put frighteningly burdensome attachments to all our debt). Cut Social
> Security in half, no less.
> Limit Medicare to patients that can go back to work after treatment.
> (Minor changes won't make it). Also do away with at least half of
> the military. Admittedly it is a huge employment firm, but the worst
> use of money is to blow it up while creating millions of lifelong
> enemies. 3. Eliminate ALL government pensions and retirement medical
> coverage starting now. That will take care of cutting back the military
> and most other government programs. 4. Outlaw the use of any "new"
> medical treatments on anyone, unless they are cheaper than the previous
> ones. Also outlaw current treatments that cost more per month than
> the average taxpayer makes. 5. After all the above still don't work,
> do away with the U.S. as a nation. Recreate another with pieces of
> others, selling off parts, putting greater spending and corruption
> restrictions on the new government.

Analysts at Most Bullish Level in Two Years

Bravo!


On Oct 08 01:10 AM Denis Gould wrote:

> Stock analysts exhibit two qualities on a consistent basis. First,
> they are completely useless at forecasting earnings and share prices.
> You would be better off following the 3 blind mice than this lot.
> Second, they are like sheep. One raises his forecast for a company,
> then the rest of the flock follow on behind. If you react to the
> first quality you would ignore analysts altogether, but people do
> pay attention to them, so identifying trends in forecast revisions
> can be a good lead indicator. So this story is basically bullish.

Citigroup: A Simple Analysis of a Terribly Complex Company

To Bruce Krasting:
You wrote "I think we entered a 'new world' sometime in 2008'.

Nice understatement!
It's more like the US Government followed Alice down the rabbit hole.


On Sep 05 08:19 AM Bruce Krasting wrote:

> Interesting analysis. I would take issue with your approach. I think
> we entered a 'new world' sometime in 2008. Everything we thought
> about re bank earnings and ratios has gone out the window.
>
> Looking at how the market valued C eight or ten years ago has little
> value as a predictor of the future for me.

Sure It’s Legal … But Is It Right?

The Social Body has no head.
A healthy social body has 4 major components: head (for leading the entire society); arms (for protection- the government and military/law enforcement); belly (mercantile and farmers) and the balance support the above 3 groups.
At present, unqualified men/women are in the positions of government and leadership; there are no real leaders (most people don't know what the qualifications of a real leader are, or should be) in positions of authority.
The group that makes the rules, government, has been totally corrupted by the mercantile community (bankers, lobbyist, special interest groups, etc.).
We now have a Social Body with no head, wherein the arms have been replaced by legs, where the belly is bloated
beyond belief, and the rest of the legs just don't know what to do, nor whom to serve/elect, nor where to go.

The entire process of election and governing has been suborned by financial interests.
Each is interested in self-preservation.
A sane and rational Society has a head, and the head provides direction. The head is not interested in governing, nor making money; it's sole interest is in ensuring the citizens are properly engaged and protected. They ensure the leaders are leading in a proper direction, and the leaders MUST be subordinate to such direction, or else they are removed.
But the leaders of the Social Body must be beyond suspicion themselves; they must possess certain specific qualities: peacefulness, self-control, austerity, purity, tolerance, honesty, knowledge, wisdom and religiousness.
Peacefulness because if a country/individual is not at peace, there is no question of happiness. It is a pre-requisite.
Self-control, to ensure we don't engage in excessive behavior that becomes self-defeating.
Austerity, because it develops character, appreciation, honesty, tolerance and more good qualities.
Purity, because it keeps one to the essence of life.
Tolerance, because there are always SO many things demanding our attention, pulling/pushing us in so many different directions simultaneously, that it's easy to leave the path the intelligence has directed is the best course.
Honesty, for obvious reasons.
Knowledge, meaning the difference between right action and wrong action.
Wisdom, the experiece gained from right and wrong actions.
And religiousness, because it shows the commonality between all individuals, based upon our spiritual natures.

If we are all properly engaged/employed, THAT is the beginning of real growth. If you have 1 part of the body that is greatly overgrown (the belly, or mercantile/bankers) at the expense of the rest of the body, the Social body just cannot be healthy.

As individuals, we must all strive for self-improvement; only then will there be a massive energy to insist that our 'leaders' really lead us, NOT in any groups specific interest (as is SO common now) but for the benefit of all.

This is entirely possible, and the only practical course of action out of this mess.
And believe it or not, there are literally thousands who have a sincere desire to serve and lead, with no interest in their own gain, either financial, social, or political.

On Sep 02 01:14 PM market ace wrote:

>
>
> The fundamental common denominator in each of these problems is immorality.
> Creating money out of thin air is counterfeiting and theft, no matter
> who does it. Bonds that can never be paid are promises that cannot
> be kept, and are dishonest. Lying to the people for self-glorification,
> and to divert attention away from actions that were negligent and
> destructive is immoral. A government that robs from the poor and
> gives to the rich is corrupt. A government that casually throws its
> workers to the wolves while catering to the wealthy is morally lost.
> And a Congress that decides, in direct rejection of the United States
> Constitution, that there will be two classes of citizens in America,
> the commoners and the elite, the serfs and the nobles, is derelict
> in its duty and a disgrace to its high office.
>
> There is accumulating evidence that the Washington – Wall Street
> moral hazard experiment has gone disastrously wrong, and that just
> like any other accidental discharge of a deadly virus, the moral
> hazard virus is now loose and swiftly propagating throughout society.
> By so blatantly colluding with Wall Street, Washington has lost all
> moral authority, and the people now have only one place to turn:
> themselves. An ethic of, “If they can do it, so can I,” is spreading,
> as people realize that fabric of American society has been shredded
> and replaced by a free-for-all mentality whereby everyone must fend
> for oneself in order to survive.
>
> Homeowners evicted by foreclosure trash their homes in rage on the
> way out the door, with an estimated 50% of such dwellings damaged.
> Looters and squatters destroy many of the rest, stealing copper pipes,
> wiring, granite counter tops and anything else of value. Dozens of
> Internet sites such as “youwalkaway.com” provide calculators to help
> homeowners decide whether or not to “strategically” default on their
> mortgages. Shoplifting costs retail businesses $35+ million per day,
> as 27 million shoplifters go on the hunt. Drug addicts who have become
> shoplifters say that the activity is equally as addicting as drugs,
> leading to a continuing cycle of theft. [3] Insurance fraud is a
> systemic financial risk, with 25% of fires caused by arson or suspected
> arson, making this the greatest cause of property damage in the United
> States. Even before this financial crisis, which has bankrupted millions,
> 10% of respondents said it was acceptable to submit a false insurance
> claims. [4] Medicare fraud exceeds $60 billion per year. Phony automobile
> and other bodily injury claims cost billions annually, and are difficult
> to control since it is impossible for a court to tell someone they
> are not in pain. [5] Each day, 175,000 phony checks are presented
> as payment. The cost of check fraud is estimated to exceed $50 billion
> annually. And on and on it goes.
>
> It seems like a terrible way for the public to get even with gov't
> and Wall Street and it will destroy us all in the end, but how do
> you stop such moral decay?

Robert Shiller on Charlie Rose

Nonsense; bad qualities are what evolve over time, not good ones.
The good ones you really, really need to work at; they don't just "happen" somehow or other.
Just look at your self (I don't know you); how hard is it for you to break a bad habit, and replace it with a good habit?

Human life begins when an individual chooses to no longer follow his/her lower, base instincts- lust, greed, anger, avarice, etc.
Until and unless one does so, they remain the animal.

The western conception of evolution is incorrect.

On Aug 09 04:49 PM KCN wrote:

> When man the animal became "social" through "natural selection",
> there was a genetic compact to better the tribe, which has now grown
> to a nation and approaching the whole world. It is "natural" to
> evolve for some basic equality of life, liberty and pursuit of happiness.
>

Ratings Agencies Won't Be Able To Shut CalPers Up Easily.

Buying so-called "toxic assets" (your words) is not, in principle, necessarily a bad move.
It really depends upon the precise assets they are buying. If they do due diligence on the assets, they may prove to be of greater value than what the banks have them at. We've seen how great the banks have proven themselves in their ability to value things.
I don't have much faith in 'analysts' ability to rate properly.
Just look at the last 2 quarters of 'analysts' ability to value equities: way too low, and now everyone is 'beating' those too-low estimates and wow! the market is rallying!


On Aug 06 09:59 PM optionsgirl wrote:

> CALPERS wants its cake, and to eat it to-- remember this Bloomberg
> article from last April? Is it fitting for CALPERS to risk the pensions
> of millions to buy toxic assets? Here is the article: www.bloomberg.com/apps...;sid=at8Z943Q4ByY

Goldman Now Sitting on a Commercial Junk Pile

How much of GS debt is the US Gov'ment guaranteeing? Should be nothing at all.

Banking Industry: How to Buy Friends and Alienate People

The "profits" earlier this year magically appeared after the removal of "mark-to-market" accounting.
Wouldn't it be "nice" if everyone could use this new "principle" for accounting for their own debt?


On Jul 05 04:05 PM Graham and Dodd Investor wrote:

> Are those bankers really earning "new" profits or just making up
> last years losses? If the latter, they don't deserve ANY bonuses
> until they reach their former "high water mark."

Norway Swapping Government Debt for Mortgages

".......a process demonstrated to work phenomenally well at propping up a hollow economy by the likes of economic alchemists such as Bernanke and Geithner."

As everyone knows, the 7th step in the alchemy process is for the alchemist to drink mercury, and the next day to p!ss on the base metal............assuming said alchemist is still alive.

In this example of revered Alchemists Bernanke and Geithner, the 'base metal' is the Balance Sheet.

Bernanke Likely to Be Ousted by Obama in Favor of Summers

We need someone with Integrity running the show. Some who knows what's going on, and is not greedy.

Warren Buffet, anyone??

IBM's Gerstner Favors Taxing Short Term Capital Gains

Warren Buffet spoke of the same principle, only his recommendation was 100% tax on anything held for < 1 year.

Companies Say Cuts Are Here to Stay

Rather than only educating the young, ALL who want a higher education should have that available at low/no cost.

And where to get the $$ for this?
Deduct from the Military budget.
An educated populace is a FAR superior defense than the bloated DoD we presently have.
Do we REALLY need to operate and maintain 761 military bases world-wide?
Exactly WHAT are we afraid of??


On Jun 24 07:48 AM Moon Kil Woong wrote:

> If you look at the long term trends in the US you can see 3 clear
> trends:
>
> 1) Education and medical costs are eating away at everything a worker
> makes.
>
> 2) Government consumption of overall GDP is becoming a larger and
> larger percentage. Even if taxes don't increase, it's clearly coming
> from somewhere (your future prosperity and income and inflation)
> and the longer it stays around the more systemic it gets making it
> impossible to cut without even more economic pain (like we don't
> have enough as is).
>
> 3) America has become a lot less profitable excluding the legal profession
> and banking and finance. Ergo banking and finance taking up a larger
> and larger share of Wall Street profits as they dump their toxic
> stream of "wealth" onto the rest of the economy. We have seen the
> great profits they reaped were nothing more than smoke and mirrors
> leaving a ruined carcass of an economy in their wake.
>
> This has made all Americans are a lot less secure than they were
> even a decade ago. Even a millionaire can't guarantee they won't
> be broke before they die.
>
> America needs to wake up and start adressing these real issues.
>
>
> The simple fact is the medical system is currently inefficient, partialy
> socialized, and filled with inefficiency and corruption (mostly thanks
> to health insureres who act as unregulated government agencies dispensing
> with your medical needs usually by trying not to treat you or at
> least pay for it). Either socialize it or properly regulate it so
> it doesn't cost $4,000 a night for a bad bed and $200 for asprin
> run by a intern doctor working for free who only can sleep 4 hours
> a day. What is going on is criminal.
>
> Educating our young is our only hope for a decent future. If we spend
> anything spending money on this is more vital than even the military.
> Our country as all country's strenth these days principally relies
> on our technological advancement and economic strenth. We can fight
> as many wars as we want but if it leads to an erosion of our education
> and economics we end up weaker even if we win them.
>
> Last, we must base our economy on a real and productive economy.
> Not an economy of government paper shufflers, lawyers, and political
> intrigue (who gets the new contract or bailed out today). Every dollar
> flowing into a government system that doesn't result in something
> productive (real goods or services such as bridges schools etc.)
> is economic wastage for society. Every dollar taken in taxes, made
> by deficit spending, or invented by central bank expansionism that
> is spent by the government without any goods or services coming from
> it is overhead and leads to an artificial economy built on nothing
> which helps no one but itself and often generates economic imbalances,
> corruption, deficits, and inevitably inflation. I can think of no
> better example of this than TARP.
>
> People say we have avioded economic disaster but if you ask me, those
> very same people who proposed our salvation are locking us in a very
> dark future and throwing away the key. We need to turn the ship around
> right now, not hear fluffy words about it. We heard the song and
> dance that America was going to be strong from Bush Jr. for 8 years.
> It's time for someone to actually make that happen.

Corporate Governance and Agency Problems: Destroying Democracy

The interests of Business and those of Democracy are not parallel, nor aligned.
The un-stated aim of a Business is to seek a Monopoly, which is at definite cross-purposes of a Democracy, which is to allow everyone 'equal say' in governance.

Until and unless the people understand this fact, and it's concommitant meanings, Business will continue to Rule over Democracy.

Federal Reserve Open Market Operations: Week Ending June 12, 2009

"The country’s politicians, business leaders, and citizens have all contributed to this disaster."

Citizens??? Most don't have a clue what happened, what is happening now, nor the result.
Conspicuously absent are the Banksters............


On Jun 13 06:13 PM floatthebond wrote:

> Total credit market debt as a percentage of GDP has risen from 130%
> of GDP in 1952 to 350% of GDP today. The various bailout and stimulus
> schemes enacted in the last year will drive this percentage above
> 400% in the near future. When a country allows this much debt to
> accumulate versus its GDP, they have done something seriously wrong.
> The country’s politicians, business leaders, and citizens have all
> contributed to this disaster.
>
> good articles... kl.am/tsc