Debt Rattle Jun 2 2014: Distorted, Dislocated and Discombobulated
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Barbara Wright Fruit, flowers and veg stall, Knoxville, Tenn. 1941 It looks like we’ll have a few more days to watch this thing, this alleged market,
[See the full post at: Debt Rattle Jun 2 2014: Distorted, Dislocated and Discombobulated]No shale gas potential in Weald basin, concludes British Geological Survey
Honestly, i’ve been waiting for this whole charade to implode for the last 3-4 years…i’m amazed it’s held up this long.
If they can keep this zombie alive this long, whose to say they wont keep it alive a while longer yet. Next financial crisis? More QE. High energy costs? More debt, and on and on it goes.
I’ve severely underestimated the power the people at the top have, so i’m gonna stop waiting and try and get on with my life.
The deficit has declined mostly due to increased tax receipts which had been rising strongly until just a month ago. The stupendous deficits 08 through 11, more than 12% of GDP on an annualized basis some months. were due mainly to decreased tax collections.
The odd thing is why did 1st quarter GDP decline even as withholding’s were rising right through the period? Well I don’t pretend to know much of anything about the GDP calculation but the disconnect is still pretty stunning. It’s almost like what’s good for households, that is rising gross wages that can be taxed, is bad for GDP. I think this is now essentially true. From this many dark scenarios of the future can be written. I suppose there are limits to how bad it could get for half the US population or more before GDP might actually suffer too. We are probably not that far from it but who knows?
No shale gas worth recovering? Drill anyway, with borrowed money. This will net out as growth for the British economy. Lot’s of jobs, leases, etc. etc.
koso_man:
Regarding GDP, it’s worse than we’re told.
https://market-ticker.org/akcs-www?post=228987Curious how one “gets on” with their life? I don’t know what else I’d be doing differently if I didn’t believe collapse was imminent/already begun.
I’d like to think that people here aren’t avoiding huge debts, making promises they can’t keep, starting conflicts (wars) they shouldn’t, and basically raping the natural environment for short-term gain simply because they think collapse is coming. If that were the case, I would hope that everyone would always live like today is the last day before collapse… at least then we’d behave like a responsible/moral society.
Cheers,
Variable81, im afaid you’ve jumped to a wild and very cynical conclusion regarding my comment.
Of course i dont intend on living immorally knowing that the collapse will eventually come…collapse or no collapse we’re gonna die either way. All i meant was that waiting for the inevitable to happen is quite draining so i’m just gonna make peace with the fact that no matter how much they try to prolong the inevitable, it must happen.
My problem has been that i’ve become obsessed with looking for tell tale signs of when the next shock will happen, and its occupied a big part of my life the last few years. In the meantime i’ve neglected to actually live life.
All the best,
Koso
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