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Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,508,145 times
Reputation: 1721
Aaaaaaahhhhhhh............Glen Beck. This guy is just another dope on the TV that makes his money off of being over dramatic and to try to strike a nerve of the sheople out there. I'd like to see what his spending habits were for the last 10 years. I'm doubting he was a model of good spending.
To me his monologue was pathetic and condesending...........but for the most part the tone was right. We are in trouble.
Now as to Schiff and Roubini. Well I have a tendency to lean toward Schiff on this one. While a panic would devastate the economy in the short run and things would be just awful for 2 - 5 years.
The prospect of hyperinflation by our government printing money like it's going out of style (literally) is absolutely terrifying. But even if that didn't happen. I believe that this continued government intervention is going to double the time of recovery. And by then we probably will be knock off from being the a/the only economic superpower.......well if we are even considered a superpower after this.
Just two more things. Keep you eyes on the Japanese something tell me they going to do a lot of buying in the next 2 years or so. They actually have the cash to do such thing now even if there economy doesn't look that good on paper.
And.....WS have you seen your doctor yet? And if so are you OK.
baystater.
Aaaaaaahhhhhhh............Glen Beck. This guy is just another dope on the TV that makes his money off of being over dramatic and to try to strike a nerve of the sheople out there. I'd like to see what his spending habits were for the last 10 years. I'm doubting he was a model of good spending.
Well, the guy admitted that too in his monologue.
Now, only if the republicans admit that they have robbed half the treasury through cockamamie monetary policy and the democrats admit that they are drooling at the mouths at the prospect of robbing the other half of the treasury through cockamamie fiscal policy, each with the other's acquiescence, well, maybe, like a recovering alcoholic, we can embark on the road to recovery.
Part of the problem was this insane ambition to extend this status as sole superpower and rub it in everybody else's face.
In his first summit with the first ex-Soviet leader, back in 1991 I suppose it was, Pres. Bush said "I didn't come here to gloat", but they did.
Anyway, regardless of the merits and demerits of the current bailout plan, I think the question now is whether the solvent economic entities - households and businesses - go down and die in the crash with the solvent ones.
I don't know ... Marius, Sulla, Pompei, Julius Caesar, Marc Antony, Augustus ... debt forgiveness, housing settlements, monetary reform were all part of that protracted civil war period as the body politic more or less officially transitioned from a republic into an empire ... and Augustus chastised the Parthians to boot in the process ...
This policy of bail out the big guys and let the little guys fail is like putting a really critical patient on extreme life support. The only thing accomplished is to let the heirs rearrange the will. The suffering is prolonged and the patient still dies.
As we "support" our local mortgage market it will only give the market time to spread the failure around the world just as it spread the poisonous real estate notes. I can only hope out Republic survives while I am certain our unrestrained borrow and borrow economy will crash. The latter will do us good if we manage to reinstate out industry and become the supplier to the world instead of the world's biggest consumer of oil and purveyor of military power.
We can not support an empire even if the Anglo American (principally Anglo) oil companies think they have a lock on the theoretical profits of emptying the Iraqi oil reserves. As soon as our occupation army leaves the Iraqi’s will renegotiate the deal because they are not about to let that much wealth be siphoned off to the financial barons of New York and London. If the army does not leave (apparently our current plan) we will not have the money to support the occupation because most of the supposed profit will siphoned off to the private investors our army was supposedly protecting at our less than wealthy citizen’s expense.
We need to get the financial crisis over and done by absorbing the loss of the wealth that was not really there. We then need to replace that financial system with a carefully regulated system that will allocate capital while controlling speculation. We also need to end our imperial ambitions and bring our army back to the US. If US investors want to invest overseas for higher returns than they could get here they would be free to do so but it would be completely at their own risk.\
If the current array of dictators and thugs in our de facto colonies could not sustain their kleptocracies without our military and financial support too bad for them. I would rather see them replaced with socialist Republics than waste out money energy and soldiers protecting thieves and murderers.
Aaaaaaahhhhhhh............Glen Beck. This guy is just another dope on the TV that makes his money off of being over dramatic and to try to strike a nerve of the sheople out there. I'd like to see what his spending habits were for the last 10 years. I'm doubting he was a model of good spending.
To me his monologue was pathetic and condesending...........but for the most part the tone was right. We are in trouble.
Now as to Schiff and Roubini. Well I have a tendency to lean toward Schiff on this one. While a panic would devastate the economy in the short run and things would be just awful for 2 - 5 years.
The prospect of hyperinflation by our government printing money like it's going out of style (literally) is absolutely terrifying. But even if that didn't happen. I believe that this continued government intervention is going to double the time of recovery. And by then we probably will be knock off from being the a/the only economic superpower.......well if we are even considered a superpower after this.
Just two more things. Keep you eyes on the Japanese something tell me they going to do a lot of buying in the next 2 years or so. They actually have the cash to do such thing now even if there economy doesn't look that good on paper.
And.....WS have you seen your doctor yet? And if so are you OK.
baystater.
thx for asking man, thats friday afternoon, stomach is killing me. I love Roubini but I agree with you, I lean toward Schiff though I hope Roubini is the right one
... I can only hope out Republic survives while I am certain our unrestrained borrow and borrow economy will crash. The latter will do us good if we manage to reinstate outr industry and become the supplier to the world instead of the world's biggest consumer of oil and purveyor of military power
... We can not support an empire even if the Anglo American (principally Anglo) oil companies think they have a lock on the theoretical profits of emptying the Iraqi oil reserves. As soon as our occupation army leaves the Iraqi’s will renegotiate the deal because they are not about to let that much wealth be siphoned off to the financial barons of New York and London. If the army does not leave (apparently our current plan) we will not have the money to support the occupation because most of the supposed profit will siphoned off to the private investors our army was supposedly protecting at our less than wealthy citizen’s expense ... We need to get the financial crisis over and done by absorbing the loss of the wealth that was not really there. We then need to replace that financial system with a carefully regulated system that will allocate capital while controlling speculation. We also need to end our imperial ambitions and bring our army back to the US. If US investors want to invest overseas for higher returns than they could get here they would be free to do so but it would be completely at their own risk. ... If the current array of dictators and thugs in our de facto colonies could not sustain their kleptocracies without our military and financial support too bad for them. I would rather see them replaced with socialist Republics than waste out money energy and soldiers protecting thieves and murderers.
Kudos to you GregW, you elaborated on what I alluded to above.
Wild Style, I didn't know you were ill, man, I'm sorry to hear it, hope your feeling well and all the best to your family.
thx for asking man, thats friday afternoon, stomach is killing me. I love Roubini but I agree with you, I lean toward Schiff though I hope Roubini is the right one
I lean toward Schiff as well... and I hope Roubini is right though.
I hate Glenn Beck too... and I don't remember him 2004 & 2005 complaining about cracks in our economy. Him, Neil Cavuto, Bill O'Reilly, Sean Hannity... all of the political pundints making $6-7 figures were poo pooing reports of a tough economy for middle America. They were all staunch supporters (and profiteers) of Bush's 'ownership society'.
Though Glenn does get points for coming to the well much sooner than his compadres.
Here's a clip from last March... compare this to the continued mess we're in.
I don't like Glenn Beck either, but...
Has anyone noticed that he's become much more polished since he got on CNN? He had a radio show a few years that was virtually unlistenable.
Quote:
Originally Posted by ocnymonty
I lean toward Schiff as well... and I hope Roubini is right though.
I hate Glenn Beck too... and I don't remember him 2004 & 2005 complaining about cracks in our economy. Him, Neil Cavuto, Bill O'Reilly, Sean Hannity... all of the political pundints making $6-7 figures were poo pooing reports of a tough economy for middle America. They were all staunch supporters (and profiteers) of Bush's 'ownership society'.
Though Glenn does get points for coming to the well much sooner than his compadres.
Here's a clip from last March... compare this to the continued mess we're in.
Just like the Nazis had to die to free Germany, and Communism had to die to free Russia.
Death to the Empire.
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