Friday, December 05, 2008

New Open Forum

Please use this forum to share your thoughts, post up links, hold a discussion, etc.

40 Comments:

At 11/27/2008 6:59 AM, Anonymous Anonymous said...

Citigroup analyst surprised that gold is not already at $2,000 per ounce

NEW YORK (MarketWatch) -- Gold futures surged for a second day Thursday, with the benchmark contract topping $900 an ounce for the first time in six weeks, as investors showed continued anxiety over the global financial system's cash crunch.

The recent jump in gold prices "can be attributed to large amounts of money fleeing to the yellow metal as a safe haven in these troubled times," said Sam Kirtley, editor of Gold-Prices.biz. See Commodities Corner.

The financial crisis "will probably worsen over the coming months," he added, and the money the central banks are pumping into the system is adding to inflationary pressures, which "are certainly showing in gold [prices]."

Gold bugs have been proven correct in the contention that "an overwhelmingly vast and complex pool of nested financial derivatives would ultimately result in cascading defaults and ruin for major portions of the banking system," wrote Citigroup analyst John Hill.

"Frankly, we're surprised that gold is not already at $2,000 per ounce," he added.

 
At 11/27/2008 9:17 AM, Blogger Justin_n_IL said...

Thanks for the compliment Randy. Just seen the comment. Only thing that would have made that situation better is if it had been me and an arrow instead of Jeremy and a muzzle loader, hehe.

 
At 11/27/2008 12:02 PM, Blogger Randy said...

Latest Jim Willie: Failed CB Franchise & Gold Explosion

Just think of it. The USGovt, after a coup d'etat pulled off by Wall Street and fraudulent climax diversion of TARP funds, has yet to address the mortgage problem at all. Mortgage aid in meaningful and necessary terms is actively avoided, since it must come with a price tag up to $2000 billion in the United States alone. The nationalization of the US banking, if not financial system, is highly likely to be followed by an eventual virtual nationalization of the entire mortgage system. Such a decision and desperate socialist action will be the death knell for the USDollar, if it survives to the point when such a program is enacted.

The unbridled monetary inflation is a powerful bull market signal for gold, once asset prices stabilize. Monetary explosion always pushes gold upward in price, but this time much money is directed into a multi-channeled black hole.

Latest Jim Willie: Failed CB Franchise & Gold Explosion

 
At 11/28/2008 6:43 AM, Anonymous Black Star Ranch said...

...journalistic interaction with the financial realists such as the Max Keisers, the Peter Schiffs, & the Roubinis never cease to amaze me. Every interview inevitably ends with the question, "What can be done?"....... ever notice that the increasing, "Nothing can be done" answer completely astounds and leaves even notable journalists absolutely speechless?

 
At 11/28/2008 7:44 PM, Blogger Justin_n_IL said...

I was listening as a family member claimed that within a year or two all of the housing values will be back up to where they were.

Me being me I had to put in some very quiet (not in your face) disagreement. I was told how much of a fu$%in idiot I was. Nothing but a doom and gloomer. And that I thought I was an economic genius. Hard pill to swallow for me.

I simply tried to explain how the low interest rates precipitated an illusionary wealth a.k.a. asset inflation. I told them that the value of the houses was nothing more than an illusion compliments mainly of the Fed Reserve policies. I tried really hard in a very soft tone to explain the "simple" fundamentals of the situation. But my family member is completely incapable of carrying on a adult debate/discussion. If you disagree with him then he always resorts to slander and degrading me.

Here's a quote. "What if the day comes when you have to look to me for help?" His response "I'll shoot myself in the head before I stoop to that". As if I'm some lowly worm piece of garbage just because I don't agree with his illusions and fantasies about life. I must admit that I can't wait to see my father squirm as things deteriorate and his messiah Obama fails to save the day.

Sorry for all of that but I just had to get it off of my chest.

 
At 11/28/2008 9:28 PM, Anonymous Anonymous said...

Randy,

Thought that you should know that St. George Utah is feeling the collapse. I know that you reported the Reno-Tahoe stats. Note that St. George Utah has about 20 months supply of homes for sale. Our building permits have fallen from approx 3500 in 2005 to 400+ in 2008. The City of St. George is going to be in a world of hurt soon. Unfortunately, they have their hand out and open (good republicans) looking for approx 1.2 billion in Fed money for an airport and a water straw into Lake Powell. Yikes. Should be the end of RedRock North with the taxes.

How's Mesquite doing? Del Webb was entering that market...

0ne large local builder (JD Thompson) defaulted on over 3 million in loans this past month. I can't believe he couldn't sell lots for $200,000 in that hick backwater of Hurricane Utah. These guys lacked any financial education, but then again so did the fools at Citi.

 
At 11/28/2008 10:13 PM, Anonymous PDM said...

Randy,

While I am still reading your site daily from Oceania, I have not checked in lately.

I wish you and all of your readers a blessings filled Thanksgiving, one where we truly have much to be thankful for.

Cheers,

PDM

 
At 11/28/2008 11:06 PM, Blogger Randy said...

BlackStar Ranch,

Agree, everyone wants to know the easy answer and the lack of one baffles the ignorant mind...


Justin, As I stated in a recent post on your blog - chin up!

Sounds like a serious case of insecurities on his part and he's deflecting them on you. Personally, I would stay away from this type of hostile atmosphere as much as possible... It will be his loss, NOT yours!


Anon 9:28,

Appreciate the insight into those markets. We drove through both of these areas on our way to Cedar City UT - visiting friends two weekends ago. Wouldn't want to live in either... I do however like Cedar City, but no decent paying job market to speak of.


PDM,

"Oceania" as in the 1st class Cruise line or the South Pacific Islands? Hope all is well.

Thank you for the Thanksgiving greeting and yes, we all have much to be thankful for.

The family and I spent yesterday with friends - enjoyed a wonderful dinner, wine and a few beers, but I woke up this AM without leftovers (my favorite), so I went to the grocery store and spent much of today cooking another feast for the family - delicious and now I have leftovers out the kazoo! :>)

My best to all of you

Randy

 
At 11/29/2008 9:07 AM, Blogger Justin_n_IL said...

Thank you Randy. That is intelligent advice. I have more recently kept my mouth shut. Sometimes I find it so hard to not try to shine a light on people who are in utter darkness.

Nevertheless I've been doing a lot of thinking since yesterday concerning all of that. I've made up my mind that I will not say anything expect when asked my opinion.

It's just a bitter pill to swallow.

Thanks a lot Randy,

Justin

 
At 11/29/2008 9:09 AM, Blogger Justin_n_IL said...

You mentioned "insecurities". That is exactly what it is.

 
At 11/29/2008 9:30 AM, Blogger Justin_n_IL said...

Gateway Pundit

Where Hope Finally Made a Comeback.
Thursday, November 27, 2008
Obama Tells Disappointed Supporters: "I Am the Change."

Oh, brother...
Barack Obama told his disappointed supporters who voted for him on the promise of change only to find him appoint old Clintonites and Bush cabinet members not to be upset-- "I am the change."
McClatchy reported:

President-elect Barack Obama essentially said Wednesday that he is the change, striving to assure Americans that he'll shake up Washington despite filling his administration with old hands from the Clinton administration and the capital's corridors of power.

"Understand where the vision for change comes from, first and foremost," Obama said. "It comes from me. That's my job, is to provide a vision in terms of where we are going, and to make sure, then, that my team is implementing."

Halleluiah.

hahaha

 
At 11/29/2008 10:29 PM, Anonymous Gibbon1 said...

'How's Mesquite doing?'

I drove through there a couple of years ago. My thought was what is THAT doing there? It's in the middle of nowhere with no economy to support it with the added benefit that I basically hate places like that.

 
At 11/29/2008 11:17 PM, Anonymous PDM said...

Randy,

The geographical region known as Oceania. Specifically, I am in sunny sub-tropical Queensland, Australia.

Cheers,
PDM

 
At 11/29/2008 11:50 PM, Blogger Randy said...

PDM,

Always wanted to visit Australia. Closest I ever got was the Philippines - Stationed at Camp O'Donnell in the early 90's. It was a POW death camp (end of the Bataan Death March) during WWII, but was turned into a major American communications hub thereafter.

Anyway, it's nearly summer there and from what I understand Queensland has been getting quite a bit of rainfall of late. Imagine it's quite muggy?

Best
Randy

 
At 11/30/2008 10:29 AM, Anonymous PDM said...

Randy,

Prior to moving here, I was living next to the Tonto National Forest, northeast of Scottsdale, AZ. So...it is damned humid here. Hard to get used to.

They say we are in a drought but you would never know it. The rainfall here has me seriously considering building an ark. ;)

- Paul

 
At 11/30/2008 2:39 PM, Anonymous jerry said...

Hey Justin,

You know it is impossible to convince individuals who are very scared of the future and want to pound their chests to show how tough they are. As he proclaimed to you, he would rather shoot himself than ask for help. That showed you he is damn scared of the future. He is threatened by your security in your beliefs. He told you so by saying that you were the doom and gloomer and full of bad news. He essentially was saying that you have known all along, or at least for some time, that you have been right and times are definitely gloom and doom in regards to economics. Keep your head up and just accept that others are threatened by reality and by others who have been paying attention.

Yes, staying quiet can be easier, but to warn others, in spite of the venom that may be spewed in one's direction, is the moral thing to do. Remember, Jesus took a lot of heat for his belief and suffered great punishment for it. All we are doing is sharing a few facts about the current times. That is much easier to take.

May all of you folks have a joyful several weeks because you all are secure in your beliefs and can accept the rough times ahead. We all will get through it. I just saw the film, Australia, and by watching it, I knew that the times ahead will not even be close to the pain and destruction that many suffered during the times of the second world war.

Take care all!

 
At 11/30/2008 3:03 PM, Blogger Justin_n_IL said...

Jerry,

Thank you so very much. Very touching and uplifting words.

It's just that I'm so overwhelmed especially when your biggest detractor is your flesh and blood.

But then again those who know me it's not about flesh and blood it's about the SPIRIT. Nevertheless it is a burden that is devastating me on the inside.

Once again, thank you very much.

Justin

 
At 11/30/2008 4:15 PM, Blogger Justin_n_IL said...

This comment has been removed by the author.

 
At 11/30/2008 4:17 PM, Blogger Justin_n_IL said...

Another man's words.

Obama has lived for 48 years without leaving any footprints -- none! There is no Obama documentation -- no records -- no paper trail -- none -- this is no accident. It is being done on purpose with Media help - but to serve whom & why??

MISSING-HIDDEN DOCUMENTS:

Original, vault copy of Certificate of Live Birth in the USA -- Not Released (1 version hidden in Hawaii, Original found in Kenya)

Certificate of Live Birth -- Released – Proven Counterfeit (http://www.obamafiles.com/)

Obama/Dunham marriage license -- Not released

Soetoro/Dunham marriage license -- Not released

Soetoro adoption records -- Not released

Fransiskus Assisi School School application -- Not Released

Punahou School records -- Not released

Selective Service Registration -- Released – Proven Counterfeit

Occidental College records -- Not released

Passport (Pakistan) -- Not released

Columbia College records -- Not released

Columbia thesis -- Not released

Harvard College records -- Not released

Harvard Law Review articles -- None (maybe 1, Not Signed)

Baptism certificate -- None

Medical records -- Not released

Illinois State Senate records -- None (Locked up to prohibit public view)

Illinois State Senate schedule -- Lost (All other Illinois state senators' records are intact)

Law practice client list -- Not released

University of Chicago scholarly articles -- None

WHY DON'T WE SEE ONE WORD OF THIS IN ANY OF THE MEDIA?

Love him or hate him, we all remember how the press went to great lengths to find out every move that President Bush made … finally unable to come up with anything factual, so they created it! When their accusations were proven empty, they refused to retract one word of the fraud they perpetrated on the American people.

Dan Rather lost his job over fraudulent documents, because common people like you & me reached out and ripped CBS to pieces. They couldn't stand the loss of sponsors OR viewers!

The same Media went to great lengths to scandalize & destroy Sarah Palin. She maintains a 91% approval rating among voters from all parties, thanks to the Internet and investigative journalists who don't work for the mainstream media.

NOW ------- The Supreme Court has scheduled a Conference for Dec 5th about Obama's
U. S. Citizenship. STILL, not a word about any of this from the Media. If it were not for the Internet and talk radio, American citizens would become the servants of a dishonest & conspiratorial Media.

THINK ABOUT IT. IT DIDN'T USED TO BE THIS WAY!

How much longer are we going to sit on our hands & say not a word?


AND DON'T THINK THE MEDIA SIMPLY DOESN'T KNOW - THEY ARE GETTING POUNDED WITH EMAILS ABOUT IT!!!


Obama could not get a simple security clearance with the information the government has on him ---- NOBODY COULD!


NOW he is privy to every top secret America has!

What is going on??? WHERE ARE THE GOOD PEOPLE IN THIS COUNTRY - ARE YOU OUT THERE???

WHAT ARE YOU DOING TO SAVE THIS COUNTRY????

 
At 11/30/2008 8:31 PM, Blogger Randy said...

MarketWatch: Worst job losses in almost three decades expected; Manufacturing, services also headed lower

More than one million jobs have been lost this year through October, according to the Labor Department. And the upcoming November employment report is expected to show a loss of another 350,000 jobs, according to analysts surveyed by MarketWatch. A decrease of 350,000 would be the largest drop since May 1980, when more than 400,000 jobs were shed.

Economists are basing their gloomy forecasts in part on the uncomfortably high levels of first-time filings for state unemployment insurance benefits. These weekly initial jobless claims have vaulted over the half-million mark -- up more than 50% from last year -- and are way above a level of about 300,000 to 325,000 that is seen as consistent with healthy job growth.
Economists at IHS Global Insight have a particular gloomy outlook for nonfarm payrolls, and are looking for a "huge" decline of 370,000, despite a boost of about 27,000 from Boeing workers returning from strikes.
"Unemployment insurance claims have climbed rapidly as businesses are shedding labor, and hiring is anemic," Global Insight analysts wrote in a research note. "Retail employment is likely to fall very sharply since the usual seasonal uptick in hiring will be muted -- translating into a steep seasonally adjusted decline."

In October, payrolls fell 240,000. If the monthly employment report due Friday does show a drop of 350,000, then total jobs lost for the four months ended in November will reach MORE THAN ONE MILLION.

 
At 12/01/2008 4:46 PM, Blogger Justin_n_IL said...

“Oops, We Meant $7 TRILLION!”
What Hank and Ben Are Up to and How They Plan to Pay for It All

http://www.webofdebt.com/articles/oops.php

 
At 12/02/2008 2:31 AM, Anonymous Anonymous said...

overthrow march 09 at the white house

 
At 12/02/2008 10:09 AM, Blogger Justin_n_IL said...

J.P. Morgan sees Fed cutting rates to zero in Jan

http://news.yahoo.com/s/nm/20081201/bs_nm/us_usa_rates_jpmorgan

 
At 12/02/2008 8:27 PM, Blogger Randy said...

Thanks for the link Justin.

Funny, J.P. Morgan should have contacted me and/or read this Blog back in April 08 - when I first discussed the potential for ZIRP - at a time when everyone else in the economic world thought fed pauses were in order. Sheepishly however, I must admit I was wrong on the timing for the Dollar - though I do feel this recent rally is temporary

From April 08 - End of the road for FOMC rate cuts; Pause to come?


From Oct 08 - ZIRP: Our Future

Regards
Randy

 
At 12/03/2008 6:59 AM, Anonymous jerry said...

This latest plan to cut the Fed rate to zero is a plan by the Bush Crime Family to continue to sabotage the incoming administration. Now Obama has nowhere to go with a rate cut if it is needed later.

They all know that there is a ton of liquidity held by the financial institutions, and the rate is low enough for anyone with a desire to borrow to do so. This crisis has nothing to do with liquidity, but with a lack of confidence in the Fed and present government. There is a lack of total trust due to the lack of transparency and honesty. These criminals are so corrupt they need to be indicted!

 
At 12/03/2008 7:02 AM, Blogger Justin_n_IL said...

In my opinion I believe Bush has nothing to do with this directly. This is the work of the men behind the curtain. It's not a "political" thing. More of a "globalization" get the dollar out of the way via destruction thing.

 
At 12/03/2008 8:17 AM, Blogger Justin_n_IL said...

Pulled of Dollar Collapse this morning. Once in a while rather than sort I'll just copy all of the links and paste them into an email for friends. Usually void of much commentary I added the following. This is how the snapshot of Dollar Collapse made me feel.

How dare I speak of reality? How dare I acknowledge it's existence? How dare we take an honest informed look at what is going on around us. Just a doom and gloomer? Or just one of an informed minority?

Even Preso elect Obama admits millions of jobs will be lost next year. Well duh for the informed amongst us. The entire fiat Dollar Empire is going to go poof. It's collapse will be like nothing the world has ever seen. Two years MAX before that happens.

Anyone who takes time to study the "fundamentals" of our banking system(Which sits atop the world no less.) along with how our Government is an employee of the Corporations and Banks that have grown up around us will find out that the Citizenry of America have been sold out. Completely sold out. All of your store houses and fields have been robbed. Reminds me of a quote from Jefferson.

The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution. . . . I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. — Thomas Jefferson

JV

 
At 12/03/2008 6:50 PM, Anonymous jerry said...

Remember, not only was George H W Bush director of the CIA, Vice President of the US, followed by President, he was the president of the Carlyle Group, which has been one of the largest slush fund private equity groups dealing in arms and weapons and heavily funded by Arabs and other crime families all over the world. His father, Prescott Bush was laundering Nazi money just prior to world war 2 and into the beginning of it. The Saudi Royal Family are like kin folk to the Bushes. The Bush Crime Family has been deep into the world's oil business. They are THE most visible Crime Family. George H W Bush is the background and the foreground of the plan to continue what Reagan had designed for the nation: Trickle Down Trickster Economics. This is what is going on right now by Little Boy Bush making sure that Paulson and Bernanke follow Crime Family's marching orders.

 
At 12/04/2008 6:27 PM, Anonymous greg h said...

Graphics that might be of interest:

http://voltagecreative.dreamhosters.com/blog/?p=748

http://scientificleader.files.wordpress.com/2008/11/inflation-2.jpg

 
At 12/04/2008 6:50 PM, Blogger Justin_n_IL said...

Greg,

That second link is priceless, pun intended. hehe

 
At 12/04/2008 7:21 PM, Anonymous jerry said...

Greg---take all those programs and events, ie. the Marshall Plan, etc, and then DOUBLE IT and that is the cost of the projected bailout.

 
At 12/04/2008 7:27 PM, Anonymous Anonymous said...

Jerry, do you hear yourself. WOW. I'm not sure you can see the forest for the trees. Or in your case the bushes.

Hopefully cooler heads will prevail when the times really turn south this next year.

 
At 12/04/2008 8:53 PM, Anonymous Anonymous said...

Obama Fomenting A Constitutional Crisis: Constitutional Lawyer Discusses Ramifications Of Controversy

 
At 12/04/2008 11:24 PM, Anonymous Patrick said...

I had to past the entire article as it appears to have been pulled by the Phoenix Business Journal.

Also, given the drooling socio-economic demographics, suspect a financial Katrina is headed towards Las Vegas. People are already sitting through green lights and driving around with their blinkers on.

U.S. Troops May Be Deployed In Las Vegas

U.S. Defense Department plans to deploy as many 20,000 U.S. troops within the U.S. for homeland security and anti-terrorism efforts could result in a significant number being placed or having some kind of presence in Arizona and the Southwest, according to security experts.

There have been threats against the Palo Verde Nuclear Generating Station west of Phoenix, the Hoover Dam on the Arizona-Nevada border as well as the Las Vegas Strip and Los Angeles International Airport (LAX). Arizona is also home to U.S. military intelligence operations at Fort Huachuca and has become a focal point with border security efforts along the Mexican border.

The Washington Post recently reported the Pentagon plans to have up 20,000 U.S. troops placed in domestic locations with the charge of responding to security matters.

Some of those troops -- which are under the U.S. Northern Command -- have already been active in Arizona, helping with security efforts along the Mexican border.

The Colorado Springs, Colo.-based Northern Command was created after 9/11 and is geared towards homeland security and civil defense within the U.S.

Civil libertarians on the left and right wonder what role the U.S. troops deployed on U.S. soil will play in security efforts and point to long-held precedents against having the military be involved in law enforcement matters.

The Northern Command has also been deployed to help with natural disasters such as hurricanes and has partnered with state national guard units, including Arizona’s, on various programs, according to Defense Department information.

“The military’s deployment within U.S. borders raises critical questions that must be answered,” said Jonathan Hafetz, staff attorney with the ACLU National Security Project. “What is the unit’s mission? What functions will it perform? And why was it necessary to deploy the unit rather than rely on civilian agencies and personnel and the National Guard?” asked Hafetz in a statement.

A number of security experts and others declined comment but others expect a fair number of domestically deployed troops to have a presence in the Southwest because of the Mexican border and some high-profile targets.

http://www.bizjournals.com/phoenix/stories/2008/12/01/daily32.html

 
At 12/05/2008 2:51 PM, Anonymous Anonymous said...

Michigan Schools Ban F Grade

Michigan schools have solved the problem of failing education. They simply won't fail anyone.

"Students who received an 'H' would have the next semester to reschedule the class or to do online or after school work to make up for it."

(It's okay to laugh now. Can you see any similarity between this and the auto industry in Michigan? Failure not being punished?)

 
At 12/05/2008 3:29 PM, Blogger justin said...

I thought Jim Willies article today was a really good piece.

http://www.321gold.com/editorials/willie/willie120508.html

justin_n_il

 
At 12/05/2008 3:51 PM, Anonymous Virgo said...

I don't know who this man is but his perspective on the current economic meltdown and mass psychology is dead on.

http://www.youtube.com/watch?v=1-mQAPgNj64&eurl=

 
At 12/05/2008 5:27 PM, Blogger justin said...

Good piece from Ron Paul.

http://www.house.gov/htbin/blog_inc?BLOG,tx14_paul,blog,999,All,Item%20not%20found,ID=081201_2549,TEMPLATE=postingdetail.shtml

 
At 12/05/2008 5:51 PM, Blogger justin said...

http://news.yahoo.com/s/ap/20081205/ap_on_go_ca_st_pe/military_recruiting

 
At 12/05/2008 8:24 PM, Blogger justin said...

http://cryptogon.com/?p=5417

 

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