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I agree, the longer we postpone the inevitable, the worse the pain will be. Let's face it people, the pain is coming. This country is BROKE - cities and towns are broke, states are broke, the federal government is broke and carries trillions of dollars in debt it cannot repay, and for the most part, people are broke. Regardless of the lies coming out of Washington DC, the current situation CANNOT be sustained. One way or the other, whether you vote Romney or Obama, Republican or Democrat, conservative or liberal, the pain is coming. Tax hikes, massive government spending cuts to defense, entitlements, and discretionary spending, raised retirement ages and reduced benefits for SS and Medicare - it's all coming. We have a choice this election between acting like Americans by facing the truth and starting to deal with this dangerous situation RIGHT NOW, or to make it even worse by continuing to lie to ourselves while ignoring the giant elephant in the room and never facing our debts. What kind of country do you want to leave behind for your children? You are AMERICANS people, so start acting like it and do the right thing in November.
Somehow I think "broke" for the govt is vastly different from "broke" for the average person. As someone here said, the Fed govt can never go "broke" even if the natl debt were 100 trillion. They'd find a way to jimmie the numbers here, tinker with the debt there, knock off a fed program here, doodle with the budget there, pass a law, and on and on--kicking the can down the road to infinity. meanwhile people continue to pour in and the population eventually swells to something like what China has and our GNP swells similarly. It's all smoke and mirrors.
If everything is about to implode, isn't it common sense to rake as much debt as you can and spend every penny of it on something creditors can't haul away. It would be hard to repossess that fancy restaurant diner or a soiled designer underwear, intimate hairdo will be with you through Chapter 11 and Chapter 7 too, I wouldn't count on your spouse though.
Seriously, ANY compound interest based monetary system is pyramidal in its nature. ANY, no exceptions. You need new debt to pay off old debts. If a banker loans you $100 and wants $200 in 10 years, where do you think that extra $100 comes from? Yup, from another sucker who takes a $100 loan from a banker. There is no way around this snowball, except wars and revolutions.
It's really simplistic to blame modern governments for 500 years of the recent history. Governments have no vision and will to meet the challenge but blaming them for modern banking and monetary system is beyond ridiculous. Do you want George Bush II or Obama to undo 500 years of the modern history and to come up with a revolutionary financial vision, are you kidding or what? I wouldn't trust them a gas station to run.
It's not about how much debt you take from a fractional banker, it's not how responsible you are, any debt will eventually snowball into unmanageable monster, ever at 0.001% interest rate debt will snowball, it's just matter of time. Why debt become unmanageable? As with every pyramid it's all in your head. Money has value for as long as you think it's valuable. Smallest things can trigger a stampede and pyramid crash. However, I don't believe that faith in monetary pyramid is eroded to the critical point, not yet. Despite numerous rounds of quantitative easing, the pyramid is rather sturdy than not. I'll go back to my post in 2013 to see if I'm right
You'd think that most of the horror stories coming from near and far that suggest the collapse of our financial system would be largely ignored by now. American's, like most people, love to speculate about things they consider to be reduce-able to a "gut feeling". Our economy is certainly on a collision course, looking in one direction allows us a view toward the future showing us the inevitability of empires crashing for one reason or another, the other, a present view, allows us to see the disaster caused by a credit collapse.
Our fortunes are caught between these two realities, nothing in economics lasts forever, and the present is proof of the cracks that always appear before the fall. I really don't know why humans struggle so much with the fact of change, good or bad, it is always with us, it IS the only thing we can count on. Whether the US crashes or goes limping along for a century or two, one thing is for sure, no nation ever stayed on top forever......
If everything is about to implode, isn't it common sense to rake as much debt as you can and spend every penny of it on something creditors can't haul away. It would be hard to repossess that fancy restaurant diner or a soiled designer underwear, intimate hairdo will be with you through Chapter 11 and Chapter 7 too, I wouldn't count on your spouse though.
Seriously, ANY compound interest based monetary system is pyramidal in its nature. ANY, no exceptions. You need new debt to pay off old debts. If a banker loans you $100 and wants $200 in 10 years, where do you think that extra $100 comes from? Yup, from another sucker who takes a $100 loan from a banker. There is no way around this snowball, except wars and revolutions.
There is one exception. You can pay off the bank with more debt right? That means you can pay off bank debt with public debt. That is why we are brain washed to think we must balance the budget because we don't want the middle class to deleverage with widely available public debt. We want them to take on more loans. If the Fed held on to the new debt it would completely cut out the financial system from their scam. That would be just terrible...
They have people thinking the national debt is the problem when its the solution the finance cartel has brain washed the middle class into believing it must stop. Bwahhhahahah.
It is an ideal intuitive weapon to use against the ignorant masses, who is like a dog that has wrapped its tether around a tree not knowing it must walk backwards to unwind it to reach the water bowl. Their way to freedom is so counterintuitive, their masters are at liberty to use the good instincts of their fiscal conservatism against them.
Look at Europe grind its bones into power with a fully private credit system which offers no way out other than more private debt. What a riot.
Quote:
It's really simplistic to blame modern governments for 500 years of the recent history. Governments have no vision and will to meet the challenge but blaming them for modern banking and monetary system is beyond ridiculous. Do you want George Bush II or Obama to undo 500 years of the modern history and to come up with a revolutionary financial vision, are you kidding or what? I wouldn't trust them a gas station to run.
It's not about how much debt you take from a fractional banker, it's not how responsible you are, any debt will eventually snowball into unmanageable monster, ever at 0.001% interest rate debt will snowball, it's just matter of time. Why debt become unmanageable? As with every pyramid it's all in your head. Money has value for as long as you think it's valuable. Smallest things can trigger a stampede and pyramid crash. However, I don't believe that faith in monetary pyramid is eroded to the critical point, not yet. Despite numerous rounds of quantitative easing, the pyramid is rather sturdy than not. I'll go back to my post in 2013 to see if I'm right
Once the debt maintenance reaches labor subsistence all that can be down is to lower the subsistence. So the 1%er solution is cheap starchy food and closet space.
I heard the same thigs in the 70's recession especailyl with its stagflation.
That stagflation was because of an oil resource rent. Same deal really because oil went up in value without adding labor. When marginal utility goes up you make money not working. Prices go up and no one is employed. That was the faulty use of the Phillips curve which assumes labor capital-models. When capital rises in price it creates demand for labor. When resources not created with labor go up then you get stagflation. This time its real state that when up in price. Can't hire anyone to make a teaspoon of dirt or make a cubic inch, hence stagflation.
I mean if you use an economic model on input like this:
1. labor
2. capital
Instead of the reality of this:
1. land
2. labor
3. capital
4. finance
If R or D (different marketing wings of the same thing -- about like Coke v. Pepsi) wins, it is:
US who loses.
If they keep things going the droid idiots of America will dutifully vote for the Evil of the Two Lessers rather than thinking any independent thought. Makes no difference R or D, as they will both do the same corporate banker bidding.
That is the goal of keeping the game going through the election.
Even the CBO (Congressional Budget Office) is starting the contingency planning for a 2013 first quarter "Downturn" after the election. They know what is coming.
Difference between landing a plane and crashing a plane is how you bring it down.
For Real Estate being the measure . . . Massive amounts of Occupied Re-Poed ahead. Look at Realtytrac sometime. The repo levels across even "good" economic areas is astounding. The banks cannot dump it all at once as it would tank their own fake values, as well. But after the election -- it begins.
As for folks lining up to be "Coming to "Merica!" -- the Mexicans (true economic barometer, there, btw) have went to Net Zero.
well...at least the housing market is soaring, no inventory, multiple bidding wars and already insane prices rising even more AND people willing to pay it readily...if people have no money the housing market certainly isn't showing it.
Not trying to be argumentative at all, BUT you "gotta" be kidding about the RE market booming!!!!????Not where I come from!
And , the homes that are selling, WHAT are they selling for? Anything comparable to the listing price? And if so, what was the home listed for compared to what it would have been listed for back in 2004-2005? I think the banks are holding back an inventory of foreclosures to keep from flooding the market..
If one were to get a read on the economy by looking at what is happening at ground level one would get the feeling that things are absolutely super... all I see is that the restaurants are packed, the malls are packed, people are buying homes by offering 10-20% over asking etc. etc. How do you suppose these things can happen if the economy was bad? does not make sense.
I agree-- maxing out credit cards and then getting another one to pay off first one. And too... More and more are going on SS disability that really shouldn't be on it . Amazing what Dr's can do to aid one in getting SS disability when it is not warranted..
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Respectively disagree.....
