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https://www.oftwominds.com/blogoct12/govt-inflation10-12.html
The Source of High Inflation: Government SpendingInflation is generally viewed as a monetary phenomenon (print money excessively and you get inflation), but let’s use a very simple definition: any loss of purchasing power. If your income buys fewer goods and services, for whatever mix of reasons (geopolitical, weather, monetary, fiscal, etc.), that’s inflation “on the ground.”
Consider this breakdown of the components that together make up the standard measure of inflation, the Consumer Price Index (CPI): (courtesy of dshort.com) What are the obvious major sources of inflation?
Energy, medical costs and college tuition.
What differentiates medical and college costs from everything else?
The Federal government’s direct role in these markets.
The Central State directly spends over $1 trillion a year on Medicare and Medicaid, and controls private spending with rules and regulations.
As for college costs: could their incredible expansion have anything to do with the Central State backing $1 trillion in student loans?
My comment:
Let’s look deeper into the accusations.
The federal gov. is involved because private enterprise has control of where the gov. money should be spent so that private enterprise can profit the most.
Even if those Spanish pension funds are Bankrupt, Even if all the banks are bankrupt, it doesn’t matter.
What matters is that those who are receiving a check continue to get a check.
Making a budget is one thing but cutting off the checks is another thing.
You might be able to reduce the check by 10% if it only means a cut of less than a few dollars. The result would be no worst demonstration than the present.
However, if 10% represents millions for some powerfull individuals then you have individuals with the means of starting and funding a revolution. Can’t let that happen.
shhhh!
It’s siesta time in Spain.Lots of headlines but little action. Germany will not be pleased:
SAENZ SAYS SPAIN PLANS 43 NEW LAWS TO BOLSTER ECONOMY
SAENZ SAYS REFORM PLAN IS TO MEET PLEDGES TO EU PARTNERS
SPAIN APPROVES DECREE ON WAGE BARGAINING
SPAIN APPROVES INCENTIVES FOR ENERGY EFFICIENT VEHICLES: The SEAT VOLT is coming to Ibiza!
SAENZ SAYS SPAIN TO PAY EU1,000 SUBSIDY PER EFFICIENT VEHICLE
The kickers:
SPANISH BUDGET BASED ON UNCHANGED ECONOMIC FORECASTS, SEES GDP DOWN 0.5%
In other words everything will be massively wrong for the country with the epic bank run. And the one the people have been waiting for:
SPAIN TO TAP €3 BILLION FROM SOCIAL SECURITY RESERVES IN ORDER TO FUND LIQUIDITY NEEDS.
Incidentally this is the same fund which has 9 months of pension reserves and is invested in… drumroll… Spanish Bonds!
And cue to the riotcam.@ Synchro
Your rote maths ignore those basic concepts and are therefore suspect.
No. I do not ignore the details of the concepts.
It would take a book, or many books, to get into the details and the conclusions would still follow the trend.
The conclusion will still be the same.As an individual, dig into the subject, it will give you a greater chance of having surviving offsprings.
You are lucky to have been born.
Your offsprings will have to have more luck than your forefathers.
The odds are worst than the casino. The longer you play the greater the odds favor the casino.You are not relevant. The message is the only thing that is relevant.
What will survive, are not the individuals but the message.
You should be asking,
“Will the surviving individuals get the message and act appropriately to maximize their chances of survival?
Have we, who are survivors, of past calamities been taught the messages from the past and acted appropriately to maximize our chances of survival?”Let’s do a little math to illustrate the probability of having surviving descendants.
Let’s use the past for our calculations.
What is the historical probability of your children surviving?
A generation is 20 years.
There is a doubling of population every 20 years.
Since you are here, then that means that there were 2 people involved in your birth. That’s a doubling.
Your parents also had 2 parents as well. that’s another doubling. You can do the remaining doubling for as many years as you want to go back.
Lets do 10 doubling, ( 200 years).
2, 4, 8, 16, 32, 64, 128, 256, 512, 1,024
Soon, reality will show that it is impossible to keep the doubling because the existing population in the past was less then at present. You are lucky to be alive.
That is the critical fact, the historical probability of surviving.
Here is doubling calculation for 200,000 years to illustrate the probability of surviving.https://en.wikipedia.org/wiki/Mitochondrial_Eve
Mitochondrial Eve is estimated to have lived around 200,000 years ago,[2] most likely in East Africa,[3] when Homo sapiens sapiens (anatomically modern humans) were developing as a population distinct from other human sub-species.
Mitochondrial Eve is named after mitochondria and the Biblical Eve.[16] The reference to Eve may lead to the misconception that she was the only living female of her time, even though she co-existed with other females. However, all of her other female contemporaries failed to produce a direct unbroken female line to the present day.
The current concept places between 1,500 and 16,000 effectively interbreeding individuals.
That would mean that the probability of survival could be 1:16,000Here is another calculation.
The total surface area of the earth 510,072,000 km2, 148,940,000 km2 ,land (29.2 %),361,132,000 km2 water (70.8 %)
361,132,000 km2 water (70.8 %) If we allowed every man, woman and child a square km and filled all the land masses with people the earth would hold no more than 148,940,000 persons. Remember that not all square km of land can support a human.https://en.wikipedia.org/wiki/World_population
The world population is the sum total of all living humans on Earth. As of today, it is estimated to number 7.041 billion by the United States Census Bureau (USCB).[1] The USCB estimates that the world population exceeded 7 billion on March 12, 2012.[2] According to a separate estimate by the United Nations Population Fund, it reached this milestone on October 31, 2011.[3][4][5]That would mean that the probability of survival could be 148,940,000: 7.041 billion.
If you want to include the total surface area of the earth, 510,072,000 km2, and count one km per person then the probability of survival would be 510,072,000:7.041 billion.You are not relevant. The message is the only thing that is relevant.
Is anyone following what is happening?
https://www.theoildrum.com/node/9496#more
Shouldn’t prices go up if oil production go off line?
Prices have just dropped to $91.
Its not making any sense.
My parents were motivated to seek a better life for themselves and for their children.
WE ARE ALL motivated to seek a better life. Those that succeed are the cause of exponential growth.
Nobody wants austerity for themselves.
In the end, the economy is all people. But Bernanke and Draghi’s schemes do not target all people, other than perhaps in very vague allusions: Bernanke pays far too much for worthless mortgage backed securities so the banks whose hands he takes them off have room to lend money into the economy (create more debt), which could hypothetically create jobs.
Before you get too convinced that you have understood the situation, I would like to remind you how to create something (money) out of nothing. Banks, (Bernanke and Draghi) are all involved. Regulators are suppose to enforce how much money that can be created so that the system can remain stable. If there is too much money or too little money, available, then the financial system is unstable. Since Bernanke and Draghi are the regulators they can do whatever they want.
Its very easy to make money in our modern financial system.
All it takes is for Bernanke and Draghi to make a bookkeeping entry that say that you now have an asset of $X B. Now you can go and spend it.
To remove that bookkeeping entry is just as simple. Bernanke and Draghi just removes it from their books and says that it has been forgiven.
Nobody needs to pay it back. It was created out of nothing and it will return to nothing.
( Just like a virtual particle. It can exist for only a short period of time. Look it up on wiki.)
The economy is not the same as a mathematical physics model. There are unintended consequences in the real world of economy. You got it right, the result is that the creation of money is causing inflation in the real economy and stealing our remaining wealth and causing misery for 99.9% of the population.It’s time to get this through our heads once and for all: Bernanke And Draghi Are Not Trying To Save Our Economies. Perhaps they would if they could, but the question is moot: they know they can’t. Instead, they’re trying to save the financial system by stealing our remaining wealth while making us believe that the economy and the financial system – a.k.a. the banking industry – are one and the same thing. They are not, and that’s why we see our jobs and benefits and homes go up in thin air and smoke while the S&P looks rosy.
Although it is possible for a virtual particle to go back to nothing, it will not be possible for Bernanke And Draghi to remove all the money that they have created.
Maybe they are worried about the dirty laundry.
https://www.bbc.co.uk/news/business-19570840
UK-based banks accused of massive mis-selling in ItalyThe London-based banks who were accused of mis-selling Swaps to Italian local authorities now face numerous civil and criminal proceedings by multiple Italian cities.
In 1980 Holland and Germany had Europe’s lowest homeownership percentages: 42% and 41%. Today the percentage is 54% in Holland and 42% in Germany.
GEEE!
If you only pay the interest on a mortgage and its tax deductible, I would say that its a good deal for you if you can walk away from the mortgage.Reality:
54% of the people are not homeowners but subsidised renters.You can’t, and shouldn’t, let unelected bankers decide matters that influence every aspect of a society.
A battle ground!!!
Mario Draghi may represent one side of the forces that will engage in battle.
It will not be a traditional war. It will be fought in the financial realm.
There will be blood in the street but it will just be collateral damage to the combatants.
The longer Mario Draghi remains where he is, the more dangerous it gets.
Yes. There will be opponents to Mario Draghi.
Its in the nature of sharks. They will want to battle Mario Draghi to be king of the mountain?Opponents will need the technical financial skills and the resources to wage the battle with him?
It will not be a shinning knight in white armor coming to save the people.
Pussy Riot girls going to jail is nothing compared to what Clint just did to Obama at the Rep. convention.
AND
The cherrie on the cake is S.A. arresting 270 demonstrating miners and holding them responsible for the cops shooting miners.
dhuuuuuu!My looking glass is not working properly.
I’m surprised that so many commentators haven’t realized what is motivating their comments.
Wiki.:
The term nostalgia describes a sentimental longing for the past, typically for a period or place with happy personal associations.Viscount St. Albans post=4982 wrote: Jim is 60 years old. Jim goes to the doctor for a checkup.
Doctor: Jim, I’m sorry, but I’ve got some bad news.
Jim: What is it Doc?
Doctor: Jim, you’re going to die.
Jim: What ? When ???
Doctor: 5, 10, maybe 15 years. Stop obsessing about the timing.
Jim: Thanks Doc.
Doctor: In six months, You will forget everything I told you because you have dementia.
No easy answers for the pension plans
… cut monthly pensions benefits
… increase monthly premiums
… invest in risky assets
… increase the age that they can get the pension benefits
… decrease the number of years that they will get the benefits
… eliminate the number of people getting pension benefits.Interesting.
… that means you will need to put aside the interests of your own banks and industries for the time being; they won’t like it, it will cost them dearly.
You must mean do like Iceland.
Top Economists: Iceland Did It Right … And Everyone Else Is Doing It Wrong
Krugman also says:
A funny thing happened on the way to economic Armageddon: Iceland’s very desperation made conventional behavior impossible, freeing the nation to break the rules. Where everyone else bailed out the bankers and made the public pay the price, Iceland let the banks go bust and actually expanded its social safety net. Where everyone else was fixated on trying to placate international investors, Iceland imposed temporary controls on the movement of capital to give itself room to maneuver.
Its too bad that it is the way it is.
Banks, and gov. will not willingly downsize.
Leverage, and the printing press gives too many advantages.
With the leverage numbers that are 50 to 100, then it should be obvious that most of it came from the printing press at the back of the bank vaults. Most of the money lent out did not come from “savings”
Nobody wants to downsize to their actual income.What Happened To The Debt?
Any plan that doesn’t address that question directly is worth less than the digital paper it’s written on. Any such plan won’t solve a thing.In order to address, “What Happened To The Debt?”, should we be asking first of all where did the money come from to lend and create those debts?
With the leverage numbers that are 50 to 100, then it should be obvious that most of it came from the printing press at the back of the bank vaults.
( For those who are not aware of it, Banks do not lend money that they have on deposit. They create money by the simple act of lending it.)
In the good old days, before the financial meltdown, the E.U. gov. did not print money. Now, the banks are demanding that the E.U. prints money instead of doing it themselves. The banks are in trouble because the interest payments, (cash flow), on the loans are not enough for them to continue their lavish lifestyles.
The last thing that the banks want to do is to downsize and take layoffs and pay cuts.
It would be a different world if banks only lent out the money that they have on deposit.
And
for Governments to only spent the income that they have collected.It will take a long time, (if ever), to get banks and gov. to downsize and live within their means.
When there is a black out, that is when you get the opportunity to string your wire to your home to get free power without getting electrocuted.
B)Off topic …
conspiracy theories have a habit of hiding behind some facts.Here is some research. You might want to check what you believe to be facts.
The Lost Science of Money
by Stephen A. Zarlenga,
a masterful work that traces this debate back to ancient Mesopotamia, Greece and Rome.… the harvest cycle in ancient farming societies, but Zarlenga (2002), Del
Mar (1895), and the works cited therein contain numerous other historical examples where
this mechanism was at work. It repeatedly led to systemic borrower defaults, forfeiture of
collateral, and therefore the concentration of wealth in the hands of lenders. For the
macroeconomic consequences it matters little whether this represents deliberate and
malicious manipulation, or whether it is an inherent feature of a system based on private
money creation. We will return to this in our theoretical model, too.A discussion of the crises brought on by excessive debt in ancient Mesopotamia is
contained in Hudson and van de Mierop (2002). It was this experience, acquired over
millennia, that led to the prohibition of usury and/or to periodic debt forgiveness
(“wiping the slate clean”) in the sacred texts of the main Middle Eastern religions. The
earliest known example of such debt crises in Greek history are the 599 BC reforms of
Solon, which were a response to a severe debt crisis of small farmers, brought on by the charging of interest on coinage by a wealthy oligarchy. It is extremely illuminating to
realize that Solon’s reforms, at this very early time, already contained many elements of
what Henry Simons (1948), a principal proponent of the Chicago Plan, would later refer
to as the “financial good society”. First, there was widespread debt cancellation, and the
restitution of lands that had been seized by creditors. Second, agricultural commodities
were monetized by setting official monetary floor prices for them. Because the source of
loan repayments for agricultural debtors was their output of these commodities, this
turned debt finance into something closer to equity finance. Third, Solon provided much
more plentiful government-issued, debt-free coinage that reduced the need for private
debts. Solon’s reforms were so successful that, 150 years later, the early Roman republic
sent a delegation to Greece to study them. They became the foundation of the Roman
monetary system from 454 BC (Lex Aternia) until the time of the Punic wars (Peruzzi
(1985)). It is also at this time that a link was established between these ancient
understandings of money and more modern interpretations. This happened through the
teachings of Aristotle that were to have such a crucial influence on early Western thought.
In Ethics, Aristotle clearly states the state/institutional theory of money, and rejects any
commodity-based or trading concept of money, by saying “Money exists not by nature but
by law.” The Dialogues of Plato contain similar views (Jowett (1937)). This insight was
reflected in many monetary systems of the time, which contrary to a popular prejudice
among monetary historians were based on state-backed fiat currencies rather than
commodity monies. Examples include the extremely successful Spartan system (approx.
750-415 BC), introduced by Lycurgus, which was based on iron disks of low intrinsic
value, the 390-350 BC Athenian system, based on copper, and most importantly the early
Roman system (approx. 700-150 BC), which was based on bronze tablets, and later coins,
whose material value was far below their face value.Many historians (Del Mar (1895)) have partly attributed the eventual collapse of the
Roman republic to the emergence of a plutocracy that accumulated immense private
wealth at the expense of the general citizenry. Their ascendancy was facilitated by the
introduction of privately controlled silver money, and later gold money, at prices that far
exceeded their earlier commodity value prices, during the emergency period of the Punic
wars. With the collapse of Rome much of the ancient monetary knowledge and experience
was lost in the West. But the teachings of Aristotle remained important through their
influence on the scholastics, including St. Thomas Acquinas (1225-1274). This may be
part of the reason why, until the Industrial Revolution, monetary control in the West
remained generally either in government or religious hands, and was inseparable from
ultimate sovereignty in society. However, this was to change eventually, and the beginnings
can be traced to the first emergence of private banking after the fall of Byzantium in 1204,
with rulers increasingly relying on loans from private bankers to finance wars. But
ultimate monetary control remained in sovereign hands for several more centuries. The
Bank of Amsterdam (1609-1820) in the Netherlands was still government-owned and
maintained a 100% reserve backing for deposits. And the Mixt Moneys of Ireland (1601)
legal case in England confirmed the right of the sovereign to issue intrinsically worthless
base metal coinage as legal tender. It was the English Free Coinage Act of 1666, which
placed control of the money supply into private hands, and the founding of the privately
controlled Bank of England in 1694, that first saw a major sovereign relinquishing
monetary control, not only to the central bank but also to the private banking interests
behind it. The following centuries would provide ample opportunities to compare the results of government and private control over money issuance.What kind of financial system will we end up with after a reset?
I will not be the one redrawing up and imposing any kind of system.
So, if you are interested in finding out what could be happening, here is something to read.https://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf
The Chicago Plan RevisitedJaromir Benes and Michael Kumhof
—
Here is a ref. and a few quotes for those interested in the history of money, and gold backed currency.The historical debate concerning the nature and control of money is the subject of
(The Lost Science of Money
by Stephen A. Zarlenga),
a masterful work that traces this debate back to ancient Mesopotamia, Greece and Rome.… the harvest cycle in ancient farming societies, but Zarlenga (2002), Del
Mar (1895), and the works cited therein contain numerous other historical examples where
this mechanism was at work. It repeatedly led to systemic borrower defaults, forfeiture of
collateral, and therefore the concentration of wealth in the hands of lenders. For the
macroeconomic consequences it matters little whether this represents deliberate and
malicious manipulation, or whether it is an inherent feature of a system based on private
money creation. We will return to this in our theoretical model, too.A discussion of the crises brought on by excessive debt in ancient Mesopotamia is
contained in Hudson and van de Mierop (2002). It was this experience, acquired over
millennia, that led to the prohibition of usury and/or to periodic debt forgiveness
(“wiping the slate clean”) in the sacred texts of the main Middle Eastern religions. The
earliest known example of such debt crises in Greek history are the 599 BC reforms of
Solon, which were a response to a severe debt crisis of small farmers, brought on by the charging of interest on coinage by a wealthy oligarchy. It is extremely illuminating to
realize that Solon’s reforms, at this very early time, already contained many elements of
what Henry Simons (1948), a principal proponent of the Chicago Plan, would later refer
to as the “financial good society”. First, there was widespread debt cancellation, and the
restitution of lands that had been seized by creditors. Second, agricultural commodities
were monetized by setting official monetary floor prices for them. Because the source of
loan repayments for agricultural debtors was their output of these commodities, this
turned debt finance into something closer to equity finance. Third, Solon provided much
more plentiful government-issued, debt-free coinage that reduced the need for private
debts. Solon’s reforms were so successful that, 150 years later, the early Roman republic
sent a delegation to Greece to study them. They became the foundation of the Roman
monetary system from 454 BC (Lex Aternia) until the time of the Punic wars (Peruzzi
(1985)). It is also at this time that a link was established between these ancient
understandings of money and more modern interpretations. This happened through the
teachings of Aristotle that were to have such a crucial influence on early Western thought.
In Ethics, Aristotle clearly states the state/institutional theory of money, and rejects any
commodity-based or trading concept of money, by saying “Money exists not by nature but
by law.” The Dialogues of Plato contain similar views (Jowett (1937)). This insight was
reflected in many monetary systems of the time, which contrary to a popular prejudice
among monetary historians were based on state-backed fiat currencies rather than
commodity monies. Examples include the extremely successful Spartan system (approx.
750-415 BC), introduced by Lycurgus, which was based on iron disks of low intrinsic
value, the 390-350 BC Athenian system, based on copper, and most importantly the early
Roman system (approx. 700-150 BC), which was based on bronze tablets, and later coins,
whose material value was far below their face value.Many historians (Del Mar (1895)) have partly attributed the eventual collapse of the
Roman republic to the emergence of a plutocracy that accumulated immense private
wealth at the expense of the general citizenry. Their ascendancy was facilitated by the
introduction of privately controlled silver money, and later gold money, at prices that far
exceeded their earlier commodity value prices, during the emergency period of the Punic
wars. With the collapse of Rome much of the ancient monetary knowledge and experience
was lost in the West. But the teachings of Aristotle remained important through their
influence on the scholastics, including St. Thomas Acquinas (1225-1274). This may be
part of the reason why, until the Industrial Revolution, monetary control in the West
remained generally either in government or religious hands, and was inseparable from
ultimate sovereignty in society. However, this was to change eventually, and the beginnings
can be traced to the first emergence of private banking after the fall of Byzantium in 1204,
with rulers increasingly relying on loans from private bankers to finance wars. But
ultimate monetary control remained in sovereign hands for several more centuries. The
Bank of Amsterdam (1609-1820) in the Netherlands was still government-owned and
maintained a 100% reserve backing for deposits. And the Mixt Moneys of Ireland (1601)
legal case in England confirmed the right of the sovereign to issue intrinsically worthless
base metal coinage as legal tender. It was the English Free Coinage Act of 1666, which
placed control of the money supply into private hands, and the founding of the privately
controlled Bank of England in 1694, that first saw a major sovereign relinquishing
monetary control, not only to the central bank but also to the private banking interests
behind it. The following centuries would provide ample opportunities to compare the results of government and private control over money issuance.https://www.youtube.com/watch?v=GwKGNO59pqA&feature=player_embedded#!
Ann Barnhardt and I (Warren Pollock) talk about the most important issues of today including the property rights, collateral, the lack of safety in savings and retirement plans, and the 2012 election. We discuss the Sentinel Bankruptcy as a test case for violating key safeguards to any and all of your financial instruments within the context of fraud or banking interests. This ruling has major implications to you as well as Jon Corzine. We anticipate the need to fund Treasuries with funds captured in retirement plans. Most importantly, Ann and I describe events without pointing the finger to “them” this is a time to take personal responsibility by finding clarity in current events.
Hummmm!
[strike]A new tool bar[/strike]!!!( it seems to work.)
Isn’t great to have the web to share what is happening.
However given what we know about the nature of life once that equilibrium is achieved it will start to recover, hopefully we are part of that process.
Just a small nit-pick …
“… it will start to recover”
I think that you are expressing too much optimism.
Let’s just say that it will be different than now.
The underlying idea here is that the individual units (statelets) should have no more than 5-10 million inhabitants.
Heineken brings a new meaning to
“Big fish in a little pond”
“Doomstead”
As a doomstead Lybia fell, Syria is in the process of failing.
If one was fortunate to survive the transition, living in one of those “statelets” would not be pleasant.
Think N. Korea.
You have presented a new prospective.
Like I said ,Life is more inclusive than “human life”.
I’m waiting to see what kind of life they discover on Mars.
It might even cause a re-definition of “Planetary Collapse””
Before attaining
So I want to take a moment to imagine a possible future, one that is in my view ideal but not impossible.
We will be going through the development of the “African frontier”.
https://www.zerohedge.com/news/beijing-conference-see-how-china-quietly-took-over-africa
“The Beijing Conference”: See How China Quietly Took Over Africa
Back in 1885, to much fanfare, the General Act of the Berlin Conference launched the Scramble for Africa which saw the partition of the continent, formerly a loose aggregation of various tribes, into the countries that currently make up the southern continent, by the dominant superpowers (all of them European) of the day. Subsequently Africa was pillaged, plundered, and in most places, left for dead. The fact that a credit system reliant on petrodollars never managed to take hold only precipitated the “developed world” disappointment with Africa, no matter what various enlightened, humanitarian singer/writer/poet/visionaries claim otherwise. And so the continent languished. Until what we have dubbed as the “Beijing Conference” quietly took place, and to which only Goldman Sachs, which too has been quietly but very aggressively expanding in Africa, was invited. As the map below from Stratfor shows, ever since 2010, when China pledged over $100 billion to develop commercial projects in Africa, the continent has now become de facto Chinese territory. Because where the infrastructure spending has taken place, next follow strategic sovereign investments, and other modernization pathways, until gradually Africa is nothing but an annexed territory for Beijing, full to the brim with critical raw materials, resources and supplies. So while the “developed world” was and continues to deny the fact that it is broke, all the while having exactly zero money to invest in expansion, China is quietly taking over the world. Literally.
What !!!!!!
“Yeah, sure. Full transparency. And the day we manage to make pigs fly, they’ll be see-through too.”
How can you possible operate a scam and take advantage of some elses lack of info.
Doing Full transparency means the end of capitalism as it is being practiced.
Life is more inclusive than “human life”.
I’m waiting to see what kind of life they discover on Mars.
It might even cause a re-definition of “Planetary Collapse”
Professorlocknload said …
“The grand daddy of all bailout Funds is already in possession of the ultimate banking license.
thelibertyclub.net/emry.pdf”
Here is your counter argument
https://www.oftwominds.com/blogaug12/perspective8-12.html
A Little Perspective on What Lies Ahead (August 6, 2012)Eliminating Elites won’t eliminate our structural problems or the reduction in phantom wealth we’ve all been relying on.
Its a great article!
Its unfortunate that there are so few people who will be reading it.
On the other hand … it doesn’t matter. Its too late for anyone to do anything about preventing the hardship that is coming.
You said …
Their task is to transfer whatever amounts of taxpayer money it takes to save the major shareholders of the major banks of the world.
I think its too late … the taxpayers money has already been spent and promissed well into the future.
Its the printing press that is going to supply the illusion of money being available.
Those that have that funny money are going to do very well buying stuff at distresed fire sales.
Only those who do not need to spend most of their time/energy/money for their basic need can have the luxury of contemplating issues affecting our society.
Make no mistake, the entertainment industry is all about politics, programming and outright deception these days.
It does appear that the secrets are slowly emerging, in many areas. Perhaps we’ll see something interesting here too someday soon.
There are some writers putting an entertainment version of what is happening.
see
https://continuumtheseries.com/
Continuum
A mini produced out of Vancouver B.C.
Did I go into a alternate universe last night when I saw a NEW “front page” layout?
Its gone this morning.
Since I also go to the comment page I missed the changed that were made to the front page.
I like it.
(I’ve also been missing out on “Daily Links” at the bottom of the front page.)
🙁Bill Gross has been saying that the market is a Ponzi scheme for a long time.
Why is he saying it again?
Why is cnbc reporting it?https://www.cnbc.com/id/48417337
Bill Gross Is Latest to Join ‘Stocks Are Dead’ Club
For his part, Gross argues that the return of stocks above the rate of economic growth as measured by gross domestic product cannot be sustained.
“The 6.6 percent real return belied a commonsensical flaw much like that of a chain letter or yes — a Ponzi scheme,” he says. “If wealth or real GDP was only being created at an annual rate of 3.5 percent over the same period of time, then somehow stockholders must be skimming 3 percent off the top each and every year.
“If an economy’s GDP could only provide 3.5 percent more goods and services per year, then how could one segment (stockholders) so consistently profit at the expense of the others (lenders, laborers and government)?”There are not enough lifeboats …..
Therefore, only those picked from the 99% will be those deamed capable of rowing the lifeboats for the 1%.
Otto Matic said …
“The evidence for their predicament started in 1981 with entry into the EU.
The trail of Goldmans actions via Greece have been known to ANYONE who wasn’t so lazy to get off their asses for DECADES.”Let’s be clear about who should have seen it and who should have gotten off their lazy asses.
The bankers, (Goldmans), of course. They helped the Greeks scam Germany, and France bankers. (mainly).
