Category: Economic Shitstorm


It’s easy to see what’s really going on.  Governments are doing their level best to steal from the middle class.  Banksters are doing their level best to steal from the government and the middle class.  The unions are doing their level best to steal from the middle class.  It’s all out open season on the middle class!  Not that it matters anymore.  The middle class is effectively dead in this country.  The thieving bastards in Congress, the banks, and the union halls will just have to fight each other over the scraps.  As I look around my neighborhood, I count 12 houses for sale.  Six families unemployed.  One lady has had no income, zero income, in over a year.  I honestly don’t know how she has been making it.  My suspicion is, she hasn’t made her house payment in at least a year and has probably been using credit cards paying the minimum the entire time.  Obama said in spring this was going to be the ‘recovery summer.’  What an utter moron!  Obama is truly a dipshit.

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Look folks, most of our banks are absolutely destitute.  As this crisis continues to unfold, many more will come to the same knowledge that it’s all going to come crashing down.  When that happens, there will be runs on banks.  Not like in the 30’s during Great Depression 1.0.  This Great Depression 2.0 has Flash Crashes, it has electronic runs on money market and checking accounts.  SO, big brother bankster has decided to write some new rules to keep as much of YOUR money as he can for as long as he can.  Case in point:

Don’t think that just because they have not yet or have not yet exercised their “right” doesn’t mean they won’t.  This was created to be exercised.  BE FOREWARNED.

My question is:  Why did it took this long for this scam to be exposed?  And why is THIS financial media personality the one exposing it?

When I was a kid my grandpa “Pap” used to reach into his pocket and pull out a wad of change.  He’d finger through the wad and pull out two quarters so that my brother and I could each buy an ice cream at Dee’s Dairy Bar just down the street from his welding shop.  My “Pap” worked hard for his money.  And of course, my brother and I were thankful he’d be so generous from time-to-time.  Of course, fifty cents couldn’t buy one ice cream cone nowadays, let alone the two back then.  Time and the value of money have sure changed over the years.  Just exactly where did the value of our money go?

Have you ever held a dollar bill in your hand and carefully contemplated it?  At first glance, it’s a piece of paper with a very unique texture.  Embossed on its face is the image of George Washington in black and green ink.  On its back you find the Great Seal of the United States of America.  Those are just the outward appearances and they remain unchanged but for the signatures over the years.

In its true substance it is a demand note bank check, drawn upon the Federal Reserve representing a debt equivalent of one dollar.  That sounds like a mouthful.  But don’t let it intimidate you.  Every dollar in existence was created on the back of someone taking out a loan, creating a debt.  In essence, the paper dollar represents debt.  It is simply a promise.  And we know the strength of that promise has thinned over the past four decades.  But where did it go?

Keynes stated, “By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”  The government without your consent confiscates the value of the dollar and degraded the strength of the promise it represented.  Von Hayek stated, “I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.”  Quite frankly, to hold that money has any lasting value requires a great suspension of belief, a delusion of grand proportions.  It’s like calling the typical car an investment.  Money, like a car, is not an investment.  It’s really a depreciating asset.  The government gets the gain and you are left holding a worthless piece of paper.  Ask yourself, what has grown the most in the last forty years?   Answer:  Government.

Then

Now

The best short explanation of the housing crisis, the causes and consequences.

It was bright day, you are traveling in a fast train full of friends and acquaintances. Everyone is laughing and having a good time. One guy stands up and calls for everyone’s attention. When everything falls silent, he tells them that he has evidence there is danger ahead. Not too far down the line, the train will go across a wide ravine. Hundreds of feet below, the river rages violently. Some of the track is missing and the train is doomed to plunge into the flood below with fatal consequences. Before the train reaches the river; however, it will make one final stop at a station where those who want to can get off. After that it will speed on to its final doom.

After the train pulled into the station, the speaker and a few who understood the risks stepped off. A majority remained, mocking them with impunity. The doors soon closed and the train shuffled off slowly from the station. The crowd inside the train laughed and joked amongst themselves about the “wiseman” and “his flock.” All but one young lady, just staring up at the route map. The train reached full speed. Then she turned anxiously to everyone and said, “I think we made a big mistake. We should have listened to that guy! There’s construction on the bridge ahead according to this route map!” Everyone looked out the right side windows in horror as the train continued around a bend speeding headlong towards the unfinished bridge ahead over the ravine.

The warnings of impending economic collapse are posted everywhere in the open for all to see. Some people choose to mock the messenger. Some people choose to mock those heeding the warnings. Some people choose to simply ignore them. Then there is the issue of opposing messages and messengers. Many in the audience have already lost a lot of money so they’re listening. The big question is who should they listen to?

The very same people who failed to warn of the impending doom are the very ones now selling a bottom and recovery in progress. Do they really deserve to be listened to? Then there are those that called the depression, but are now being dubbed ‘doomers’ and unworthy of serious consideration. Naysayers dub the “doomer’s” success ‘lucky’ but now we should listen to serious financial professionals?! Give me a break.

This economy is in shambles. Bernanke is covering up the BoA/Merrill fiasco and buying US bonds. Meanwhile Congress is on a spending binge while we the taxpayers get soaked. What do they want to do? Pass a healthcare bill that really is a coverup to get cash to pay for their spending habits.

Sharpen the pitchforks, pluck the chickens, heat the tar, and stuff the effigies. Party in DC coming soon!

Zero played host today to the First Annual Turkey Strut-Off on Healthcare in the Blair House today.  Zero, reveling in the multi-hour network coverage, came out firing, “I don’t count my time, because I’m the President.”  Zero will play fiddle while Rome’s economy burns to dust.  So long as he get’s his narcissistic way on Healthcare, economy be damned!

I don't count my time because I'm the President!