Debt Rattle Jan 28 2014: Squandered Blood and Angry Birds
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Alexander Gardner Lincoln dedicates Gettysburg Monument November 19 1863 The only thing that irks me more than the present US government is the realiz
[See the full post at: Debt Rattle Jan 28 2014: Squandered Blood and Angry Birds]As an American, I resemble that remark.
Many Americans don’t feel the same way. If we just get Hillary in there or Ron Paul or whatever flavor you like.
I cringe at the idea of “developing countries” and such….because it give the air of the United States has been helping this country out and it is in much better than the rest of the world. I think we are more vulnerable. Just like the Germans beating their chest and blaming the rest of Europe for being “lazy” and not saving. I believe in the bigger they are the harder they fall idea. Maybe things are as bad as they seem and we need the spying and heavy hand…just to prolong BAU for a little longer. Thanks Ben for giving us a few more years of peace before all hell breaks loose. Unless you believe this collapse is going to be orderly…..not here it won’t. Ted
At this point in time, the best thing we Americans can do is concentrate on taking care of ourselves and our families and making both they and our communities more resilient. Activism as we once knew it is dead.
I’m working to try and pay down the note on the land and get my small farm up and running as much as possible while I still have a job. The goals for this year are to get the garden/orchard fenced, get the rest of the orchard in the ground, and build the chicken coop and get chickens. Of course, all of that stuff is expensive and only getting more so, so we’ll see how it goes.
Plus, having chickens or more than three days worth of food on hand now marks you as a terrorism suspect too, right? :eyeroll:
Dang, it’s a toss up. Should I buy that farmstead in Oregon and fight the elements for subsistence, or simply move to Utah, declare myself homeless and get a free house?
Raleigh , That is pretty funny and sad at the same time!
Can anyone tell me when the collapse is close, there is a lot of people I want to give a big Fyou to…..I keep thinking it is just around the corner and then it is not…..it is starting to be like a biblical prediction. But it must be close no?
Ilargi, one question i wanted to ask. You said in 2010 that QE wont be inflationary and that betting against the dollar would be a stupid move. I think you’ve been proven correct.
However, isn’t it to the U.S. advantage for the dollar to be strong (relative to other currencies) as this means imports are cheaper, and seeing as the U.S. is still a net importer, it therefore has a smaller deficit.
I think the fact that the deficit has been significantly reduced compared to the levels seen in 2009-11 is testament to that fact.
Im by no means an economist but i’d like to know what your thoughts are on whether the FED intentionally let the dollar increase in value relative to other currencies.Thanks,
KosoApropos of nothing, but also maybe everything… I swing a hammer for work, and usually have a radio on, and the unrelenting talk about “cutting spending”, and “welfare” and all that makes me sick because these talking heads can’t seem to turn around and see the $ (fill in the blank) billion PER MONTH that the Fed is spending as more of the same.
Talking with a co-worker yesterday and we realized that if your industry is so overwhelmingly vital to the everyday life of the United States of A, that you can’t possibly fail or everyone goes down with you… then you are not a “free market industry”… you are a UTILITY. And like water, electricity, transportation, you should be GOVERNED like a utility. And that includes appropriation for your (much less than imagined) personal risk.
We also realized that this is the perennial system, it’s not gonna change. But it sure makes for interesting conversation.
Banking is a Utility now…
Koso,
A coin with many sides. The US is still a net importer, but the trade deficit may be narrowing more due to the temp bubble in domestic energy production than the – in relative terms – strong USD.
For one thing, a high dollar makes Obama’s dream of doubling exports in a 5 year timeframe a silly mirage, and exports are absolutely key in times of high debt levels.
Without artificial interest rates, the USD might be even higher, a “natural” course of things between stronger and weaker economies. Moreover, the dollar is not high at all vs the Euro, which is at $1.37 today, while it might be better off at par.
The US knows China will push to keep the renmimbi low, so it doesn’t have to do much there. As long as it doesn’t rise vs the Euro, Fed and Treasury probably think they have the best they can get – without extreme measures-.
One more thing: since the USD is the reserve currency, and most commodities plus a lot of debt are denominated in dollars, Washington can in theory simply print to pay for increasing costs. Note: unlike QE, that would risk devaluing the dollar, because it would mean money/credit actually entering the real economy.
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