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  • in reply to: Debt Rattle December 12 2017 #37661
    zerosum
    Participant

    The problems with using islands as prisons, is that they get overcrowded unless the inmates are released.

    ” The mayors of five Greek islands facing the coast of Turkey are demanding that the government and EU end a policy of containment for migrants – introduced last year as a deterrent against illegal migration – because living facilities are severely overcrowded.”

    in reply to: Bitcoin Doesn’t Exist – 3 #37556
    zerosum
    Participant

    Duhhh!

    bubble price nows!!!

    Duhhh!

    More bubble prices!

    in reply to: Bitcoin Doesn’t Exist – 3 #37554
    zerosum
    Participant

    Using a credit card cost money.
    Using a bitcoin cost money.
    Banks make money from you using credit cards.
    Exchanges make money from you using bitcoin.
    Printing press make the most money

    in reply to: Bitcoin Doesn’t Exist – 2 #37518
    zerosum
    Participant

    Printed money can buy bitcoins.
    Then, what is the result?

    in reply to: Brexit Is Pandora’s Gift To Britain #37466
    zerosum
    Participant

    The people will not pay the Brexit divorce bill. They got no money.
    The rich will not pay. (That’s why they are rich.)
    Therefore, one printing press will pay the other printing press and all will be forgiven.
    Anything else is extortion.

    in reply to: Brexit Is Pandora’s Gift To Britain #37457
    zerosum
    Participant

    ” …. the British public will be forced to pay to settle the Brexit “divorce bill”. MPs and peers, including former cabinet ministers, say that with the bill agreed this week and likely to be between £40bn and £50bn, …”

    With 1/5 of the people in poverty!!!!!

    I have stupid question???

    Why would anyone pay back any kind of loans that originated from the printing press?

    Borrowing from the printing press is done by central banks and gov.

    Defaulting/forgiving makes the loan disappear and there is no one injured.

    in reply to: Debt Rattle December 1 2017 #37408
    zerosum
    Participant

    If you, as a purchaser, are broke and cannot pay for any purchases, want/need something and you have only a credit card, then you, as the purchaser, can get what you need/want for as long as the seller keeps thinking/believing/expecting that the credit card company will refund the seller for the transaction.

    (The seller must, also, believe that he will be going to heaven.)

    in reply to: Debt Rattle November 30 2017 #37394
    zerosum
    Participant

    The U.S. is bankrupt; both financially and morally.

    There is no nobles oblige.

    There is no rule of law.

    There is no ethics.

    Therefore, the end of our social/economic system is near.

    in reply to: Debt Rattle November 29 2017 #37360
    zerosum
    Participant

    https://www.ctvnews.ca/canada/highlights-statistics-canada-s-final-release-of-2016-census-data-1.3699006

    OTTAWA — Statistics Canada issued its sixth and final batch of 2016 census numbers Wednesday, this one focused on education, labour, journey to work, language of work and mobility and migration. Some highlights:
    — Canada ranked first among OECD countries with 54 per cent of residents having college or university degrees in 2016, up from 48.3 per cent in 2006.
    — Of women aged 25 to 34, 40.7 per cent had a bachelor’s degree or higher, up from 32.8 per cent in 2006. Among men of the same age, 7.8 per cent held an apprenticeship certificate, up from 4.9 per cent 10 years earlier.

    My Question:
    “– Canada ranked first among OECD countries with 54 per cent of residents having college or university degrees in 2016, up from 48.3 per cent in 2006.”

    Canadians are the most in debt.
    What did they learn about being in debt that I did not?

    in reply to: Debt Rattle November 28 2017 #37335
    zerosum
    Participant

    I don’t own bitcoin.
    The rich own bitcoin.
    When the bitcoin bubble breaks, how will that hurt me?

    Who got hurt when the tulip bubble broke?

    in reply to: The ‘End of Dreams’, and the Saving of Appearances #37266
    zerosum
    Participant

    “Of course there are alternatives.  But will they arrive in time?  Perhaps the existing paradigms are destined to endure a while yet …”

    There is no austerity for you if you benefit from QE or if your credit card still works.

    “Where do we go from here?  A continuation of the existing financial paradigm is what everyone believes; what everyone expects (wants) – and is what we likely will get.”

    “To put that in numbers, there’s a current shortfall of $18,176 between the standard of living and real disposable incomes. In other words, no matter how much people are borrowing, their standard of living is in decline.
     
    Your standard of living in not declining if your credit card still works.

    in reply to: Debt Rattle November 24 2017 #37252
    zerosum
    Participant

    https://www.zerohedge.com/news/2017-11-24/us-saudi-starvation-blockade

    The US-Saudi Starvation Blockade

    Is this now the American way of war? Are we Americans, this Thanksgiving and Christmas, prepared to collude in a human rights catastrophe that will engender a hatred of us among generations of Yemeni and stain the name of our country?

    in reply to: Debt Rattle November 24 2017 #37249
    zerosum
    Participant

    Is that a picture of the future?
    The kids are not brown or black.
    The kids are not wearing shoes.
    Would brown or black kids be wearing clothes?

    in reply to: Austerity, Bloodletting and Incompetence #37220
    zerosum
    Participant

    Austerity has failed the British people and the British economy.
    Therefore, print and print some more,

    War production has saved many countries.
    Therefore, have more wars.

    Building ghost cities has worked.
    Therefore, dig more holes and build more piles of resources.

    Capitalism has worked.
    Therefore, arrest the rich and keep them in a luxury prison until they sign over their wealth to the gov.

    😉

    in reply to: Debt Rattle November 22 2017 #37200
    zerosum
    Participant

    @ olo530
    merci
    That thought might help to take away mental pain

    in reply to: Debt Rattle November 22 2017 #37193
    zerosum
    Participant

    Review

    Hoping to avoid another round of unpopular bailouts, financial watchdogs have forced too-big-to-fail banks to make themselves less dangerous by adding lots of capital that safeguards against losses.

    What is bank capital?

    Bank capital is the difference between a bank’s assets and liabilities, and it represents the net worth of the bank or its value to investors. The asset portion of a bank’s capital includes cash, government securities and interest-earning loans, such as mortgages, letters of credit and inter-bank loans, while the liabilities section of a bank’s capital includes loan-loss reserves and any debt it owes. A bank’s capital can be thought of as the margin to which creditors are covered if the bank liquidates its assets.

    What are bank assets?

    Bank assets are the physical and financial “property” of a bank, what a bank owns. While a bank commonly owns physical property (buildings, land, furniture, equipment),
    the bulk of a bank’s assets are financial–legal claims on the property or the wealth of others. The two most notable asset categories are loans (which generate interest revenue) This asset includes loans to consumers (home loans, personal loans, automobile loans, credit card loans) and businesses (real estate development loans, capital investment loans).
    and reserves (which keep deposits safe).Two varieties of reserves worth noting are vault cash (the actual paper currency and coins that is kept in the bank, that is, in the vault) and Federal Reserve deposits (deposits that banks keep with the Federal Reserve System to clear checks and assist in other banking activities).

    in reply to: Debt Rattle November 22 2017 #37192
    zerosum
    Participant

    https://www.bloomberg.com/news/articles/2017-11-21/millions-of-patients-face-pain-and-withdrawal-as-opioid-prescriptions-plummet

    Go and read the rest of the article.
    Removing the causes of the emotional and physical pain would make the opioid crisis disappear.

    Easier said than done.

    in reply to: Debt Rattle November 20 2017 #37171
    zerosum
    Participant

    “Millennials are the worst culprits here: 24% still haven’t paid off credit card debt incurred during the 2016 shopping season, while 16% of Gen-Xers haven’t and only 8% of boomers haven’t.”

    I feel left out – no money – no debt.

    in reply to: America is in Terminal Decline #37129
    zerosum
    Participant

    problems:
    What will the 0.01% do when they are the only survivors?
    They cannot do any of the survival tasks that they really on to survive.

    Then …..
    The earth will heal itself and only those willing to live and let live will prosper.

    in reply to: Debt Rattle November 15 2017 #37070
    zerosum
    Participant

    Why I can’t figure out what is happening,
    what is the truth,
    what really matters,
    or what is important.

    It’s all because the news media is focused on Trump.
    Trump is a distraction and a confusion.

    definition:
    distraction; having one’s attention drawn away

    Synonyms for distraction

    aberration, complication, confusion, disturbance, diversion, interference, interruption, abstraction, agitation, amusement, beguilement, bewilderment, commotion, disorder, dissipation, engrossment, entertainment, frenzy, game, pastime, perplexity, preoccupation, recreation, divertissement

    confusion
    noun. disorientation

    abashing
    abashment
    addling
    agitation
    befuddlement
    befuddling
    bemusement
    bewilderment
    blurring
    chagrin
    cluttering
    commotion
    confounding
    demoralization
    disarranging
    discomfiting
    discomfiture
    disorientation
    distraction
    disturbing
    dither
    dumbfounding
    embarrassing
    embarrassment
    embroiling
    flap
    fluster
    lather
    mixed up
    mystification
    obscuring
    perplexing
    perplexity
    perturbation
    pother
    puzzlement
    stew
    stirring up
    tangling
    tumult
    turbulence
    turmoil
    unsettling
    upsetting

    in reply to: Debt Rattle November 13 2017 #37017
    zerosum
    Participant

    ” …Yemen will face “the largest famine the world has seen for many decades, with millions of victims …”

    Ask the Saudi if the war is going as planned?

    in reply to: Tax Them Till They Bleed #36981
    zerosum
    Participant

    What does a sustainable social/economic system need.

    Taxes are not needed or necessary.
    Borrowing and lending are not needed or necessary.
    What is needed and necessary is adequate control of printing of the money supply.

    in reply to: Debt Rattle November 10 2017 #36962
    zerosum
    Participant

    Taxes are not needed or necessary.
    Borrowing and lending are not needed or necessary.
    What is needed and necessary is adequate control of printing of the money supply.

    in reply to: How Broke is the House of Saud? #36920
    zerosum
    Participant
    in reply to: Debt Rattle November 7 2017 #36904
    zerosum
    Participant

    • Growing Homeless Camps Contrast With West Coast Tech Wealth (AP)

    Tenting is not a necessary housing solution.
    There are alternatives.
    There are probably more used/cheap RV and cargo trailers, than people, than could be a alternate/comfortable housing solution.

    • Four False Viral Claims Spread by Journalists on Twitter in One Week (GG)

    • Profiting from Puerto Rico’s Pain (New Yorker)

    • What Could Go Wrong? (Jim Kunstler)

    • Saudi Arabia Accuses Lebanon Of ‘Declaring War,’ Egypt Calls For Calm (CNBC)

    • Oil Prices Surge On Saudi Purge (CNBC)

    • Bernie Sanders Warns Of ‘International Oligarchy’ – Paradise Papers (G.)

    Lies, Lies, everywhere Lies.
    People lie.
    Journalist lie.
    Politicians lie.
    Law enforcement lie.
    Religious people lie.
    Sinners lie.
    Holy leaders lie.
    Teachers lie.
    Men lie.
    Women lie.

    Our social and economic structures are built upon lies.

    in reply to: Debt Rattle November 4 2017 #36873
    zerosum
    Participant

    • America’s Opioid Crisis Is About To Get Worse (ZH)

    Abundant supply is not the only reason.
    For the opioid crisis to get worst, you also need an ever increasing consumption.

    Remove the causes of the need for emotional and physical pain killers and the opioid crisis disappear.

    in reply to: Debt Rattle October 30 2017 #36773
    zerosum
    Participant

    “he found not only did they make a good living from hunting and gathering, but they did so on the basis of only 15 hours’ work per week”

    When humans were a minority.

    Those were the good old day.

    in reply to: Is Capitalism Dead or Merely Dying? #36632
    zerosum
    Participant

    @ john

    I like your point # 1

    I would add that secrecy/knowledge would be needed to take advantage of other people.
    The web is an equalizer.

    in reply to: Debt Rattle October 21 2017 #36604
    zerosum
    Participant

    My windshield does not kill as many bugs as previous years.

    in reply to: Debt Rattle October 17 2017 #36547
    zerosum
    Participant

    @ nassim

    The more that I learn the less positive I become.
    I can no longer tell the difference with the truth and false news.

    I need more than a grain of salt.

    in reply to: The Curious Case of Missing the Market Boom #36466
    zerosum
    Participant

    https://www.washingtonpost.com/posteverything/wp/2017/03/02/perspective-on-the-stock-market-rally-80-of-stock-value-held-by-top-10/?utm_term=.6645803202b1

    “Yes, stocks are up. But 80 percent of the value is held by the richest 10 percent.

    less than half — 46 percent — of households owned stocks, either directly or through their holdings in some sort of fund (e.g., a retirement account). Contrast that with the 94 percent ownership rate of the top 1 percent.

    Look, it’s great that the market is hitting new highs. That’s much better than the alternative. But let’s keep it real in terms of who benefits.”

    Full disclosure: I don’t own any stocks

    in reply to: Catalonia and other Disasters #36246
    zerosum
    Participant

    There are disasters and pain in many more place than the two you have listed as an example.

    The Mediterranean has never seen peace.

    Men/women in all those disasters are causing people to suffer or to get relief.
    Some people are finding ways to benefit from the loss of others.

    Someone is always picked out to be blamed for bad things.

    Chose.
    It’s gods fault.
    It’s the devils fault.

    I just live on this earth.
    I heard the messenger.
    I’m innocent.

    in reply to: Debt Rattle September 28 2017 #36188
    zerosum
    Participant

    The wave is not going to be for more than 10 days. It takes four day of sailing from Miami. It’s a pretend help.

    Here is an other pretend help.

    https://theintercept.com/2017/09/27/puerto-rican-debt-holders-respond-to-catastrophic-hurricane-by-offering-puerto-rico-more-debt/

    A group of bondholders, who own a portion of Puerto Rico’s massive $72 billion debt, has proposed what they are calling relief — but in the form of a loan. So they’re offering a territory mired in debt the chance to take on more debt.

    The announcement came after The Intercept spent two days reaching out to 51 of Puerto Rico’s known creditors, asking them if they would support a moratorium or cancellation of debt payments for the island, given the humanitarian crisis. Prior to this announcement, only three of the 51 creditors had so much as donated relief funds to charity or offered sympathy for island residents, all of them banks who actually have to face consumers, and so are a bit more adept at handling public relations. No creditor had supported debt relief.

    Of the 51 creditors contacted by The Intercept, only Citibank, Goldman Sachs, and Scotiabank have pledged no-strings-attached money for Puerto Rico and other Caribbean islands, in the form of donations to relief organizations totaling $1.25 million. Citi has also waived certain fees for citizens within disaster zones.

    Puerto Rico’s other creditors contacted by The Intercept would not say whether donations were made by their firms or their top executives, which include some of the richest people on earth. Holders of Puerto Rican debt have included John Paulson, who got rich betting against the housing market during the financial crash; Jeffrey Gundlach of DoubleLine Capital, who in 2015 called Puerto Rican debt his “best idea” for investors; and Marc Lasry of Avenue Capital Group and co-owner of the Milwaukee Bucks NBA team.

    The creditor lists were assembled by Puerto Rico’s Center for Investigative Journalism in 2015 and supplemented by additional media reports. In addition, the federal bankruptcy-like process in Puerto Rico forced holders of one type of debt, so-called “COFINA” bonds backed by sales tax revenue, to reveal themselves. A full list of known Puerto Rican bondholders and their responses to The Intercept’s inquiries appear at the end of this article.

    Experts see even the offer that was made by the bondholders less as a gift and more as a backdoor for creditors associated with the Puerto Rico Electric Power Authority, or Prepa, to take advantage of the disaster by enriching themselves. Offering a desperate population the ability to drown themselves in even more debt is hardly generous.

    See….
    There are lots of ways to make money when the bubble burst. 🙂

    in reply to: Debt Rattle September 28 2017 #36185
    zerosum
    Participant

    https://www.zerohedge.com/news/2017-09-28/president-trump-waives-jones-act-enables-rescue-shipments-puerto-rico

    Before you cheer, look up the definition ofWaives and find out what will be the duration.

    in reply to: Left Behind #36138
    zerosum
    Participant

    The NYT is in la-la-land
    ” It is time for Congress to act ethically and responsibly and suspend the Jones Act in Puerto Rico.”

    in reply to: Left Behind #36137
    zerosum
    Participant

    I just read

    Under the law, any foreign registry vessel that enters Puerto Rico must pay punitive tariffs, fees and taxes, which are passed on to the Puerto Rican consumer.

    Someone is going to make a fortune off the relief efforts.

    Food costs twice as much in Puerto Rico as in Florida. Jones Act relief will save many Puerto Ricans — especially children and seniors — from potential starvation. Jones Act relief will also enable islanders to find medicine, especially Canadian pharmaceuticals, at lifesaving rates. And it will give islanders access to international oil markets — crucial for running its electric grid — devoid of a 30 percent Jones Act markup.

    There will be a lot more shit hitting the fan before its over.

    There is a lot of ways to make money after a bubble burst.

    in reply to: Left Behind #36134
    zerosum
    Participant

    Keep printing. It will keep the bubbles flying higher.

    There is no bubble in Puerto Rico.
    Can you afford to buy in Puerto Rico?

    The US Cities with the Biggest Housing Bubbles

    The US Cities with the Biggest Housing Bubbles

    For the good folks who hope fervently that the Fed doesn’t have reasons to raise rates or unwind QE because there isn’t enough inflation, here is an update on one aspect of inflation – asset price inflation, and particularly house price inflation – where the value of your hard-earned dollars has collapsed over a given number of years to where it takes a whole lot more dollars to pay for the same house.

    The S&P CoreLogic Case-Shiller National Home Price Index for June was released today. It jumped 5.8% year-over-year, not seasonally adjusted, once again outpacing growth in household incomes, as it has done for years. At 192.6, the index has surpassed by 5% the peak in May 2006 of crazy Housing Bubble 1, which everyone called “housing bubble” after it imploded (data via FRED, St. Louis Fed):

    in reply to: Debt Rattle September 25 2017 #36112
    zerosum
    Participant

    Most of the countries/gov. do not offer health insurance for their subjects.
    Are those people’s lives worst than the Americans with their unaffordable health systems?

    Yep. I know.
    We all want to live old and die rich.

    in reply to: Debt Rattle September 24 2017 #36093
    zerosum
    Participant

    Alternate realities

    Mine or yours

    I’m going to can/jar my abundant crop of tomatoes

    in reply to: Debt Rattle September 24 2017 #36091
    zerosum
    Participant

    Puerto Rico had a bubble that had burst.
    Now MARIA has destroyed the assets.
    There are no assets to seize.

    Questions?

    Will the expats leave or stay?
    Will the unpayable loans be repaid?

    A comparison is in order.

    Haiti
    https://www.usaid.gov/haiti/energy

    Haiti is facing two energy challenges: a broken electricity sector and dependency on charcoal. The electricity sector in Haiti is among the most challenged in the region. Only about one-quarter of the population had access to electricity prior to the 2010 earthquake, and that remains the case today.

Viewing 40 posts - 8,841 through 8,880 (of 9,001 total)