Discussion of Housing Bubble, US Dollar, Debt, Trade Deficit, Oil, Gold, Consumer Spending, Central Banks, Inflation, Outsourcing and the Bleak Future of the US economy
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Saturday, December 13, 2008
Open Forum
Please post up your links, comments, hold a discussion, etc here
Drove into Las Vegas from Pahrump today to meet a step daughter, and one thing I noticed driving back and forth on the strip afew times, was I noticed that the number of people walking along the sidewalks,,,,,,,,,seemed to be fewer. And on the overhead crosswalks, they were basically bare by 4 pm. Most unusual then what I have seen on previous trips. And this was the weekend of the National NRA finals, and some fight.
Jim Twamley, Professor of RVing here. Randy, I appreciate your excellent work. Since I report on the RV industry (which has fallen off a cliff) I wrote a story about it's demise and received some interesting comments. The comments are telling me a great deal about where people are at mentally. Some are in complete denial and others really do "get it"- it's all over the board. The article is here: http://rvnow.rvtravel.com/ I should probably so some "man on the street interviews" to follow up on what people are really thinking about all this. Regards - Jim Twamley, Professor of RVing
One reason why it is so easy to predict a business-as-usual Obama Presidency is the people that Obama has surrounded himself with. Former New York Federal Reserve chairman Timothy Geithner* for Secretary of the Treasury; former Secretary of the Treasury Lawrence Summers* for National Economic Council director; Bush's Defense Secretary Robert Gates* will keep his job; Illinois Representative Rahm Emanuel for Obama's Chief of Staff; Hillary Clinton for Secretary of State; Arizona Governor Janet Napolitano* for Secretary of Homeland Security; former South Dakota Senator Tom Daschle* to head the Health and Human Services Department; former Assistant Attorney General Eric Holder to be Attorney General; New Mexico Governor Bill Richardson* as Secretary of Commerce; Susan Rice* for U.S. Ambassador to the United Nations; Paul Volcker* for the Economic Recovery Advisory Board; James Steinberg* as Deputy Secretary of State; Mona Sutphen* for Deputy White House Chief of Staff, and Louis Caldera* for Director of the White House Military Office.
Does anyone see "change" with the above names? Every one of them is a longtime political insider. And at least eleven of them (those with an asterisk [*] behind their names, above) are members of the globalist Council on Foreign Relations (CFR). In fact, six out of the eleven cabinet-level positions in the Obama administration are CFR members.
The CFR has dominated both Democrat and Republican Presidential administrations for decades. Presidents such as Dwight Eisenhower, Richard Nixon, Gerald Ford, Jimmy Carter, George H.W. Bush and Bill Clinton have all been members of the CFR. Vice Presidents such as Hubert Humphrey, Nelson Rockefeller, Walter Mondale, and Dick Cheney have been CFR members. And over the last several decades, practically every secretary of defense, secretary of the treasury, and most CIA directors have been CFR members. And let's not forget that this year's Republican Presidential nominee, John McCain, is a CFR member.
Do you now see why--no matter who is elected President of the United States--nothing changes? Republican or Democrat, it does not matter: the CFR and their collaborators remain in power. And as Sonny and Cher used to sing, "The Beat Goes On."
I don't know of any down state'rs here in Illinois who like Rod Blagojevich. But isn't the timing just a bit funny. Yesterday he suspends all State business with Bank of America until they restore credit to the factory where the 200 people are doing an occupation strike.
Pardon my language but when you fuck with the Big Boys you get Elliot Spitzered. Or as we like to say around here "Play with the Bull and you might get the horns".
Rod is undeniably crooked like most politicians. But the timing of his arrest is so blatantly obvious. Geesh
Obama's man Axelrod now denies that Obama had met with Rod to discuss his replacement yet this article back on November 8th tells another story. Hmmmm...... Change you can believe in.
This article in Vanity Fair is interesting. It talks about how the millionaires and billionaires are getting hammered financially because of the economic crisis.
How fitting that the cartoonist, Carson, made the guy look like Reagan, the president who took the nation along the slippery slope that eventually brought everyone into the burning fire at the bottom.
It is my opinion that this recession is unstoppable. Credit will be frozen for a very long time. The uber-rich bankstas and scammsters are getting creamed with evaporated paper wealth resulting in the tossing overboard of their hard asset wealth. The consumer is in limbo, for the most part. I think we in a 24 year spending low.
This is not coming back. China is shutting down manufacturing plants and is slowing down, although they may just devalue the Yuan even further in order to level off at an 8% GDP for 2009. We will be negative.
Which nation is foolish enough to continue to buy interest-free treasuries? No one. A massive debt-induced failed financial bailout, along with a multi-trillion infrastructure works project only will have a huge debt burden on any prosperity that may come of it. That will deflate it, eventually.
It is clear that the bailout cash has done nothing good. Our economy is based upon the middle class and those below to spend money, have money in their pockets, feel secure enough they can pay their mortgages and rent payments, and try to upgrade their lives. It is not driven from the top. They all know that this Bernanke-Bush trickle down goes nowhere when the gettin' gets real tough, but absolutely no one in government is killing the infected beast. We are really in very scary and dangerous times.
As Mike Whitney stated if Bernanke's bailout plan was so smart, (to put more cash in the hands of the fraudsters who took down the economy, liquifying their balance sheets), then why is everything still frozen? It is because nothing is transparent. There are still financial IEDs still planted deep within those lending institutions.
There will truly be a deep freeze this winter and on into the summer, fall, and winter again.
Rod Blagojevich hated Obama because he didn't pay and play Rod's hosin' game. This guy is so stupid and egocentric that he had no idea that anyone would wear a wire and go after him. This guy must be a true delusional sociopath. In reality, no one was playin' Rod's crime scene game.
Here's a little HTML help that will assist you in creating a HYPERLINK for all those future posted links (allows much quicker access than cutting and pasting a link)
Lets hope this works - use the following code (in quotes below) but add "<"(nospace)"A" (space) immediately BEFORE href and "/"(nospace)"A>" Immediately AFTER the last "<" sign. (Note: I can't post the code exactly as required, because the code will become invisible)
"href="http://www.website link">Name of Article<"
Once you've reassembled this code, save it in Notepad or something similar on your desktop and then you can cut and paste new links, articles, etc. it's really easy once you get the hang of it.
Hello, I'm interested in advertising on your blog http://economicrot.blogspot.com/. At the moment, I'm looking for intext links. Do you write paid posts? How much does it cost? My website provides information on credit deals and ways to manage one's finances. Waiting for your reply.
29 comments:
World of the Rich collapses - Profiles in Panic- Vanity Fair
http://www.lewrockwell.com/knaebel/knaebel11.html
To much pesky TRUTH being spread about.
Berlusconi plans to use G8 presidency to 'regulate the internet'
http://www.theregister.co.uk/2008/12/03/berlusconi_g8_internet/
Drove into Las Vegas from Pahrump today to meet a step daughter, and one thing I noticed driving back and forth on the strip afew times, was I noticed that the number of people walking along the sidewalks,,,,,,,,,seemed to be fewer. And on the overhead crosswalks, they were basically bare by 4 pm. Most unusual then what I have seen on previous trips. And this was the weekend of the National NRA finals, and some fight.
Jim Twamley, Professor of RVing here. Randy, I appreciate your excellent work. Since I report on the RV industry (which has fallen off a cliff) I wrote a story about it's demise and received some interesting comments. The comments are telling me a great deal about where people are at mentally. Some are in complete denial and others really do "get it"- it's all over the board. The article is here:
http://rvnow.rvtravel.com/
I should probably so some "man on the street interviews" to follow up on what people are really thinking about all this.
Regards - Jim Twamley, Professor of RVing
3 part video must see
http://whitewraithe.wordpress.com/2008/12/02/alert-gun-confiscation-maritial-law-and-civil-war-in-america/
Makes you feel all warm and fuzzy inside doesn't it?
Chinese tour groups go house-hunting in U.S.
http://www.latimes.com/business/la-fi-chinahomes7-2008dec07,0,6321372.story?page=1
China Syndrome
http://www.telegraph.co.uk/finance/economics/3546471/Chinese-economy-1930s-beggar-thy-neighbour-fears-as-China-devalues.html
One reason why it is so easy to predict a business-as-usual Obama Presidency is the people that Obama has surrounded himself with. Former New York Federal Reserve chairman Timothy Geithner* for Secretary of the Treasury; former Secretary of the Treasury Lawrence Summers* for National Economic Council director; Bush's Defense Secretary Robert Gates* will keep his job; Illinois Representative Rahm Emanuel for Obama's Chief of Staff; Hillary Clinton for Secretary of State; Arizona Governor Janet Napolitano* for Secretary of Homeland Security; former South Dakota Senator Tom Daschle* to head the Health and Human Services Department; former Assistant Attorney General Eric Holder to be Attorney General; New Mexico Governor Bill Richardson* as Secretary of Commerce; Susan Rice* for U.S. Ambassador to the United Nations; Paul Volcker* for the Economic Recovery Advisory Board; James Steinberg* as Deputy Secretary of State; Mona Sutphen* for Deputy White House Chief of Staff, and Louis Caldera* for Director of the White House Military Office.
Does anyone see "change" with the above names? Every one of them is a longtime political insider. And at least eleven of them (those with an asterisk [*] behind their names, above) are members of the globalist Council on Foreign Relations (CFR). In fact, six out of the eleven cabinet-level positions in the Obama administration are CFR members.
The CFR has dominated both Democrat and Republican Presidential administrations for decades. Presidents such as Dwight Eisenhower, Richard Nixon, Gerald Ford, Jimmy Carter, George H.W. Bush and Bill Clinton have all been members of the CFR. Vice Presidents such as Hubert Humphrey, Nelson Rockefeller, Walter Mondale, and Dick Cheney have been CFR members. And over the last several decades, practically every secretary of defense, secretary of the treasury, and most CIA directors have been CFR members. And let's not forget that this year's Republican Presidential nominee, John McCain, is a CFR member.
Do you now see why--no matter who is elected President of the United States--nothing changes? Republican or Democrat, it does not matter: the CFR and their collaborators remain in power. And as Sonny and Cher used to sing, "The Beat Goes On."
http://www.newswithviews.com/baldwin/baldwin477.htm
Top 10 famous quotes about propaganda.
http://www.alternativereel.com/includes/top-ten/display_review.php?id=00008
I don't know of any down state'rs here in Illinois who like Rod Blagojevich. But isn't the timing just a bit funny. Yesterday he suspends all State business with Bank of America until they restore credit to the factory where the 200 people are doing an occupation strike.
Pardon my language but when you fuck with the Big Boys you get Elliot Spitzered. Or as we like to say around here "Play with the Bull and you might get the horns".
Rod is undeniably crooked like most politicians. But the timing of his arrest is so blatantly obvious. Geesh
Just got in from a 2-day, out of town business trip - I'm currently out of the loop on transpiring/recent events.
Looks like I've got a bit of catching up to do.
Appreciate the posts/links guys
Randy
US Treasury 3-month bill yield below zero for first time
http://news.yahoo.com/s/afp/20081209/pl_afp/financeeconomyusmarketsbonds;_ylt=AphqFUWom0OGyeUsaRW4bXDv5rEF
For chart lovers.
http://www.changewave.com/alliance/viewreport.html?source=/alliance/reports/2008/4q1q_20081208.html
Shocking? Not really.
Pay raise for district court judges tucked into $14 billion automaker bailout plan
http://finance.yahoo.com/news/Pay-raise-for-judges-tucked-apf-13798044.html
Obama's man Axelrod now denies that Obama had met with Rod to discuss his replacement yet this article back on November 8th tells another story. Hmmmm...... Change you can believe in.
http://66.218.69.11/search/cache?ei=UTF-8&p=Director+of+Illinois+Dept.+of+Veterans%27+Affairs+visits+Quincy&fr=yscpb&u=www.khqa.com/news/story.aspx%3Fid%3D219212&w=director+direct+illinois+il+dept+department+veterans+veteran%27s+affairs+affair+visits+visit+visiting+quincy&d=Ph3CN0fiR5wF&icp=1&.intl=us
http://www.vanityfair.com/magazine/2009/01/wall_street200901
This article in Vanity Fair is interesting. It talks about how the millionaires and billionaires are getting hammered financially because of the economic crisis.
http://counterpunch.org/whitney12092008.html
Excellent article by Mike Whitney!!!!!!!
How fitting that the cartoonist, Carson, made the guy look like Reagan, the president who took the nation along the slippery slope that eventually brought everyone into the burning fire at the bottom.
It is my opinion that this recession is unstoppable. Credit will be frozen for a very long time. The uber-rich bankstas and scammsters are getting creamed with evaporated paper wealth resulting in the tossing overboard of their hard asset wealth. The consumer is in limbo, for the most part. I think we in a 24 year spending low.
This is not coming back. China is shutting down manufacturing plants and is slowing down, although they may just devalue the Yuan even further in order to level off at an 8% GDP for 2009. We will be negative.
Which nation is foolish enough to continue to buy interest-free treasuries? No one. A massive debt-induced failed financial bailout, along with a multi-trillion infrastructure works project only will have a huge debt burden on any prosperity that may come of it. That will deflate it, eventually.
It is clear that the bailout cash has done nothing good. Our economy is based upon the middle class and those below to spend money, have money in their pockets, feel secure enough they can pay their mortgages and rent payments, and try to upgrade their lives. It is not driven from the top. They all know that this Bernanke-Bush trickle down goes nowhere when the gettin' gets real tough, but absolutely no one in government is killing the infected beast. We are really in very scary and dangerous times.
As Mike Whitney stated if Bernanke's bailout plan was so smart, (to put more cash in the hands of the fraudsters who took down the economy, liquifying their balance sheets), then why is everything still frozen? It is because nothing is transparent. There are still financial IEDs still planted deep within those lending institutions.
There will truly be a deep freeze this winter and on into the summer, fall, and winter again.
http://www.huffingtonpost.com/cenk-uygur/blagojevich-proves-obama_b_149926.html
Rod Blagojevich hated Obama because he didn't pay and play Rod's hosin' game. This guy is so stupid and egocentric that he had no idea that anyone would wear a wire and go after him. This guy must be a true delusional sociopath. In reality, no one was playin' Rod's crime scene game.
I would preffer having this blog to have the so called "Followers" pretty useful updates
Cards Fall In Vegas
Revenues at Nevada casinos plunged 24.6% in October.
http://www.forbes.com/markets/2008/12/10/gaming-casino-nevada-markets-equity-cx_mlm_1210markets27.html
Nevada casinos from Tahoe to Vegas suffer largest ever drop in win
http://www.tahoedailytribune.com/article/20081210/NEWS/812109980/1056/NONE&parentprofile=1056&title=Nevada%20casinos%20from%20Tahoe%20to%20Vegas%20suffer%20largest%20ever%20drop%20in%20win
Hyperlink Help for those who want it:
Here's a little HTML help that will assist you in creating a HYPERLINK for all those future posted links (allows much quicker access than cutting and pasting a link)
Lets hope this works - use the following code (in quotes below) but add "<"(nospace)"A" (space) immediately BEFORE href and "/"(nospace)"A>" Immediately AFTER the last "<" sign. (Note: I can't post the code exactly as required, because the code will become invisible)
"href="http://www.website link">Name of Article<"
Once you've reassembled this code, save it in Notepad or something similar on your desktop and then you can cut and paste new links, articles, etc. it's really easy once you get the hang of it.
Good luck!
Randy
LOL, thanks Randy. I think it was FOFOA who tried to help convert me on that a few months back. I'll give it a shot.
Hi
Good…….. No I should say very well.
Blog really containing a meaningful information. Keep it up.
Hello,
I'm interested in advertising on your blog http://economicrot.blogspot.com/. At the moment, I'm looking for intext links. Do you write paid posts? How much does it cost?
My website provides information on credit deals and ways to manage one's finances.
Waiting for your reply.
We believe that we have some answers.
http://www.moneyaswealth.blogspot.com/
Read from bottom to top.
Randy,
I need a favor, just some advice. Would you please contact me at jut74@yahoo.com when you get a chance. Thank you very much.
Justin_n_illinois
Schiff vs London... make sure you watch it all.
www.youtube.com/watch?v=mWZ3L2xkDnE
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