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  • Buffett's Betrayal [View article]
    I don't see any prominent American leader sticking up for average citizens. The founders risked everything on principle and now our leaders are far worse than King George III. Getting far ahead in life used to bring a sense of service to society amongst some. Now, besides Ron Paul, all I see is continued swindle.
    Aug 5, 2009. 03:12 PM | 79 Likes Like |Link to Comment
  • The Greatest Depression Is Coming [View article]
    I agree with Dave Wrixon and logicalthought. Where is there a sign from our leadership that could give us the idea they even have a stray thought of doing the right things? Right now the losses for the politically connected are being subsidized and made whole at obscene and ruinous cost for the rest of us. I believe the saying, "your first loss is your best loss," if applied to Wall St. last year, would have us facing reality and taking rational steps to the realignments necessary to recovery.
    The first step to recovery is to admit the problem. Having another pull off that bottle doesn't work.
    Oct 17, 2009. 09:23 AM | 68 Likes Like |Link to Comment
  • Washington's Dilemma: This Isn't a Recession, It's a Collapse [View article]
    Collapse. That does say it. It certainly shows in the figures government can't mark to magic like tax receipts. This is a collapse.
    Governments at all levels are "engines of destruction" (User 353732) more than ever before. Their hubris has been built on sand. Any useful function of Washington in it's latest, most breathtaking power grab of TARP and the DC pork plan et al will be as it's supposed savior status in the public mind is finally reversed.
    Yes, we send taxes galore to all levels; they all feature bloated, cross-functioning, ineffective waste galore with the arrogant, overpaid public servants we've come to know all too well. Insane debt levels preceded the bust, during the "booms!" What now?
    Government has a long history now of clearly unconstitutional power grabs and a populace long trained to be shorn sheep. Interesting times.
    Jul 14, 2009. 07:12 AM | 53 Likes Like |Link to Comment
  • Lessons From 5 Years Of Economic Crisis [View article]
    Iceland is better off than the US and even more so the Europeans, not to mention the Japanese who began their New Normal of bankster bailouts 20+ years ago and have suffered microscopic growth ever since.

    This is because Iceland lanced the boil and used it's resources to assist Main Street rather than the criminal banking cartel. The rest of the West sports politicians who have found the campaign contributions and career revolving door with the likes of Wall Street too good to pass up.

    It is not the either/or proposition constantly promoted by academics, MSM and this article's author. There is no need to reward the unsustainable and the guilty or simply to let nature take it's course. By choosing the former and by collectivizing their losses and bad debts, the West has squandered it's chance to emerge from the 2998 implosion with a bright future rather than a hopelessly entrenched elite and a dismal path beset by unaddressed threats of further economic devastation.
    Oct 10, 2012. 03:57 PM | 51 Likes Like |Link to Comment
  • The Truth About the U.S. Housing Market [View article]
    Very enlightening. Government is shown to promote artificial scarcity and supply constraints with more regulation and thus higher boom/bust cycles in housing.

    Will we ever get off the cycle of ever-greater unintended consequences that follow every added band-aid "solution" from government? Due to the self-interest of the purveyors and beneficiaries, we have built a vast Orwellian state of lies and newspeak from MSM to academia, with bloated government justifying itself with increasingly phony statistics that perpetuates the template of only considering solutions that add more of the same as it creates ever-larger disasters.
    Jan 6, 2011. 11:42 AM | 49 Likes Like |Link to Comment
  • Charlie Gasparino: Another Crash 'Has to Happen Again' [View article]
    A John Lounsbury instapost recently depicts a number of notables from
    GS making the rounds of English churches to spread their notion that they haven't violated Biblical morality. One said that since it commanded to love thy neighbor as thyself, it's okay to be unstinting in self-love. I guess that includes cloaking oneself with unlimited wealth by any means necessary, no matter at whose expense.
    Wall St. and Washington have already reached the greatest levels of looting in history, by plumbing some of the lowest levels of self-serving doublethink possible. It is only made possible by the insentience of Americans, who, as Vuke comments, must understand that they will always be pikers at this game. Handing Washington the keys to our future generation's future, hands it to the biggest liars and swindlers of all time, leaving behind only virtual crumbs now.
    Nov 5, 2009. 03:51 PM | 47 Likes Like |Link to Comment
  • Less Obvious Consequences of the Massachusetts Election [View article]
    The public deferred to the bailout strategy due to inattention and an idea that our stupendously overpaid leaders might be qualified to lead. $trillions later, too many people in the trenches (the former middle class) are all too aware of the misdirection and malfeasance those frauds have done with our money. And the complete lack of results, other than, preserving TBTF's for another round of handouts.

    I expect the MSM propaganda to blame the inevitable tough times we face on too little "stimulus" and deficits. On the "pitchfork" crowd. Fact is, the smoke and mirrors crowd has just run us out of pleasant options and it's way past time Americans woke up. Finally, some hope.
    Jan 20, 2010. 10:36 AM | 43 Likes Like |Link to Comment
  • 25 Reasons We Will Not Have a Depression [View article]
    That's a decent list of items that don't seem to be catastrophic. Still, a list of policies that fail the smell test include:

    Trillions for Wall St.
    Trillions for toxic asset purchases beyond TARP and direct bailouts, such as FRE and FNM.
    Politically important failures generally bailed out such as GM and state and local governments, all of whom need extensive pruning. Actually, bankruptcy reorganization would bring about real reform.
    Cap & Trade and Obamacare would burden a healthy economy, let alone ours now.
    Upcoming CRE and alt-A massive defaults looming.
    Public pensions are absurdly underfunded and overpromised.

    Since there is nobody in charge addressing these and numerous other imbalances and abusive maladies in our economy and society, the game is extend and pretend via exploding debt and hope nothing on your list implodes or explodes.

    I fail to take much solace in this picture even if it's somewhat dormant for now.
    Nov 20, 2009. 10:37 PM | 43 Likes Like |Link to Comment
  • Here Comes the 'Double-Dip Recession' [View article]
    The double-dip scenario Washington may be signaling via it's statistical engineering will be to raid the alleged cookie jar for more "stimulus." Our obscenely overgrown government at all levels must be running out of the last "stimulus" checks and now the game is likely more of the same, with some superficial veneer to make it sound new and different. Wall St. and Washington haven't gone broke underestimating the American public yet.
    Jan 12, 2010. 07:59 AM | 42 Likes Like |Link to Comment
  • Natural Gas: Powering the Dubai Overshoot [View article]
    The state you refer to was, for well over a century, where seekers of the fruits of "manifest destiny" of the US could still escape to, to find freedom, expression, prosperity and excellent services, such as education.
    That state overshot while handicapping the use of it's own, mostly plentiful resources. It abuses those resources, through overuse of autos and water. While imposing a stifling, extravagant and overpaid bureaucracy to administer their mistake-laden mandates and to screw up former success, notably education.
    Dubai is more of a one-trick pony. The US and California have messed up in countless ways by never phasing out a failing bureaucracy, law or mandate and by constantly adding countless others. Not yet held back by reality, bailouts and public debts are increasing exponentially, one of the few ways the US and California still lead the world.
    Nov 28, 2009. 02:28 PM | 41 Likes Like |Link to Comment
  • Sovereign Default: Stuck Between Dire and Disastrous [View article]
    Political hacks worldwide are always looking for the easiest mark to loot. With bloated public employee unions ready to raise their hackles if anyone even glances at their culpability in our economic decline, that SS third rail and any benefits to ordinary people look rather inviting by comparison.

    We employ millions of government meddlers who are paid double the private sector, to retard growth. Which is now shown to have been a debt-fueled fraud for some time anyway, even before the meltdown. Either we take back the land of the free, or we continue our present course of looting the least politically connected. These are the honest wealth producers, who now dwindle alarmingly in the land of the crony bailout.
    Feb 14, 2010. 08:15 AM | 40 Likes Like |Link to Comment
  • Recession Is Over; Depression Has Just Begun [View article]
    I would like to point out a greater need to compare apples to apples. Government spending does not equal sustainable, wealth-increasing private-sector jobs. The double-entry accounting (identity) you explain as necessary; that private saving must be balanced by public debt, deserves a deeper look.
    We have been developing a crippled Main St. whose jobs pay less for two earners than for one 40 years ago vs. cost of living. This has been masked by excessive debt and asset inflation. So has the rise of government, which is an inefficiency and cost overall to an economy. The total is grossly unsupportable and in need of more than "balance" from one side to another. It is unsustainable in size now, and in the foreseeable future.
    If we don't make better choices than we have, towards productive rather than crony uses of money. we can expect failure to continue with ever-more outlandish "solutions" causing greater Main St. pauperization and bondage.
    Oct 2, 2009. 10:36 AM | 37 Likes Like |Link to Comment
  • The Precarious State of Our Union [View article]
    Government and other parasites have basically devoured the host, the private, value and wealth-producing economy in favor of value-subtracting, politically favored and connected activity.

    Financed by Fed and Treasury fiat and ponzi schemes, rent seekers have manipulated every aspect of our society and economy so that, absent serious voter revulsion for their proscription of business as usual, we are under their complete corporate/government fascist control and ownership.

    Responsible, sane voters have to build upon the result they accomplished in Massachusetts, which showed there is hope.
    Jan 31, 2010. 08:00 AM | 35 Likes Like |Link to Comment
  • American Austerity Is About to Begin [View article]
    There was a time of confusion, September, '08, just before and after TARP was proposed. The talking heads on Bloomberg radio from Wall St. didn't have the usual talking points. They stumbled about in confusion as their world teetered. Then, the day TARP was proposed, one of them manically kept repeating his relief over the "gleeful compromise" just announced.
    During this time, MSM, including NPR, continued on, life and business as usual. The meltdown was an important news item, TARP was just another day at the office.
    Whether Americans can be bothered to action by the accelerating and increasingly clear decline of the US is uncertain. I imagine future crises will, as did '08, present inflection points for Americans to respond with their heads in the sand or to awaken before the parasitic economy is established in full control.
    Our rights have been subverted. "Freedom of speech" has been co-opted by rampant corrupt interests who have bought our government and MSM. Fake and diminishing "rights" bestowed by the most grossly intrusive legal system ever, distract from the God-given rights we have from which we bestow limited powers on government, not the reverse. This system, so overrun with corruption, is bought and sold to the highest bidder which is not Main St. anymore. Fiat, now, fake money, is generated by and for the fake, parasitic sector, for our grandkids to pay.
    We must elevate voices such as Peter Schiff's over yet another bread-and-circuses "stimulus" check from Washington.
    Oct 18, 2009. 08:37 AM | 34 Likes Like |Link to Comment
  • The Coming Consequences of Banking Fraud [View article]
    Fraud as far as the eye can see, but, as the stock market has been propped up since March, can low interest rates be maintained for awhile during a decline in the dollar and rising commodities to force people to risk, and thus, rising stock markets with volume for awhile? I imagine this would be the "jobless recovery" that would not be a recovery for Main St. at all, but carry through the next election, facilitating the election/reelection of frauds-as-usual and even worse problems for the future.
    Sep 9, 2009. 10:45 AM | 33 Likes Like |Link to Comment