You know it’s getting bad when people like Peter Beinart notice it.

cashmcall

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You know it’s getting bad when people like Peter Beinart notice it.

I’ve lost all fear of the accusation, myself. I think it’s losing its political juice, because it’s hard to take it seriously any more, coming from these racist hypocrites.
 
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nothing new about it. some things never change.

Robert+Byrd+in+full+plumage.JPG
 
This week, I played back and forth with some kid from Huffington Post. He simply can't or won't understand what a Constitutional Republic is. More specifically, he could not distinguish a constitutional republic from a democracy. He is apparently, a new age dummy. Me, I like the old fashioned dummies.

The old fashioned dummies were the people I grew up with who knew they were beyond their field of expertise when the subject matter of any given conversation was not something they knew or cared about. We were all old fashioned dummies at various points in our lives. There is no shame in simply admitting, "I don't know." Or saying, "Could that guy be right?"

The old fashioned dummies just kept their mouths shut and tried to learn something from the people who knew something.

I must remember that this kid is the product of a government run school system. Had he been home schooled- he would certainly know more than he does. So there's that.

He says that millions of people think we have a democracy and therefore- they can't possibly be wrong. He even says to me, "so one guy is right and millions are wrong?" (That is precisely the definition of a democracy)

Um yea dummy err...I mean kid. That's exactly what I'm saying. You know we are in trouble when the mob doesn't even know what kind of government they have.



Here's an excellent piece on what our government was intended to be and what is is

http://www.stopthenorthamericanunion.com/NotDemocracy.html

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You know this countries in trouble...Every time I think about the word "moron" I think of that guy holding this sign.




I love this pic and this guy. I want to make this picture my new screensaver. I mean that. You see that American flag doo rag? I would bet serious money that this guy rides a Japanese motorcycle.

Every week, I scan hundreds of news stories on line. From those, I pick out a few links. Some cause me to think. That's what happened when I read a piece last week on the ten happiest countries and noted that Israel numbered among them. Israel. That's the place where everyone goes into the military. That's the race of people everyone hates and wants to kill. That little postage stamp of a country where bombs are dropped off every now and then and a bunch of people die. Happy.

They landed in the top ten. The USA didn't. In fact our placing at 11th in my view is absolutely erroneous. The opinion I hold is the culmination of hundreds of hours of studying on line, of listening to travelers and friends, of looking up everything from health stats to expatriate numbers if you can find them. My best guess at the number of American expats is somewhere around 10 million. Ten million people have decided that living somewhere else is a good idea. They might have something to say about the happiness index.

Nobody asks them. Probably... because we already presume to know the answer. Often when I post something, I'm tired. Sometimes, I wake up like I did this morning and think, who wrote that piece of crap? Of course I soon figure it out and I set about the process of reading the project out loud. This as it happens, is the best editing tool I have. Sometimes I delete the whole damn thing and I swear never to drink again. Oddly enough, if you read what I write out loud you will know that I speak exactly the same way well except with a lot more profanity. Which brings me right back in some circumlocuous (that word is not in my spellchecker) fashion, to where this all began.

I am a product of the U.S. government school system with the exception of the two years I spent in catholic school- getting my but kicked by nuns. This one in particular. This woman tried to teach me sex education at age 12. That did not work out well for either one of us.

Community mourns activist nun; Sister Francilla Kirby dies at 82

May 21, 2010
kirby.jpg


That woman is an imposter. She was the meanest, hit you with a stick ornery woman that I ever met. She used to get so pissed off her face would get red and her lip would quiver. When that happened...watch for flying debris.

I never remember her smiling. That pic was photo shopped by the Catholic Church.
 
I had a teacher like that, but not a nun. (I don't think) She wore a brown suit and brown oxford shoes every day. Her name was Miss Stikey and she was very strict. I was afraid of her.
 
I had a teacher like that, but not a nun. (I don't think) She wore a brown suit and brown oxford shoes every day. Her name was Miss Stikey and she was very strict. I was afraid of her.
I think most of us have had at least one teacher like that.. OT.. I know you watch the markets.. as of today I am about 80% in cash...
 
I OT.. I know you watch the markets.. as of today I am about 80% in cash...

What does that mean? Your selling off stocks?

I heard last night that China's economy is slowing down and Japan's market dropped about 7% overnight. Do you think it's started?
 
What does that mean? Your selling off stocks?

I heard last night that China's economy is slowing down and Japan's market dropped about 7% overnight. Do you think it's started?
A post I made back on 3rd of May... Japan is now printing money, almost as fast as we are...
Meaningful to global economic and financial market outcomes ahead will be the Bank of Japan monetary extravaganza of a generation that lies directly in front of us. Will Japan be so lucky as to have little to no headline inflationary impact while printing historic amounts of money? Or could it be different this time relative to the US monetary and inflationary experience of the last four to five years? Although not given much recognition amongst the high fiving over recent Japanese equity market levitation, there is one critical difference between the backdrop against which the Fed has operated compared to the landscape the BOJ faces.
If we step back and take a view of the current cycle, a keynote fingerprint character point of Fed monetary policy is that it has played out in the direct aftermath of a US credit cycle bust. In terms of the timing and sequencing of potential cycles of inflation, this is important to keep in mind. In one sense what the Fed has sponsored with its own balance sheet growth has simply offset in magnitude balance sheet contraction in other sectors of the US economy, probably none more dramatic than the damage we’ve seen done to the asset backed markets over the last half decade.

Key point being, the BOJ ahead will be operating in no such environment of immediate prior period credit contraction. The credit contraction, if you will, in Japan already occurred long ago. So if we think about Japan as a total system, BOJ money printing will be expanding the total balance sheet as there is no offsetting individual sector balance sheet contraction of consequence.
As a bit of a visual proxy, let’s have a look at Japanese bank loans outstanding since the early 1990’s. Bank loan contraction bottomed eight years ago. And as you can see, on a rate of change basis, year over year Japanese bank lending is in positive territory where it has spent precious little time if we look across a number of decades.

As of the moment, the US and Japan find themselves in different credit cycle bust aftermath time sequences. And so we should expect similar inflationary outcomes under historic monetary policy experiments? I think not. Of course the second large and differentiating factor so far is relative currency movement. We all know what has happened to the Yen over the last five months. The US dollar never experienced this type of decline anywhere over the current 2009 to present cycle. Bottom line being, we should not be surprised to see a quite different outcome with inflationary pressures in Japan than has been the recent case in the US under similar monetary extremes.

Finally, as investors we need to think about and monitor whether actions of the BOJ could transmit inflationary pressures globally, much as the actions of the US Fed have done, especially in emerging markets. We already know financial asset inflation, especially stock prices, is a key target of BOJ policy. Without question, additional Japanese capital moving out of the Yen will impact global equities (HARD). But credit markets are the key watch point as they will price in potential accelerating inflationary pressures long before equities. In the US, it’s the TIPS implied inflation breakeven rates that I continue to monitor. The US Fed began its latest round of monetary largesse at the highest implied breakeven rates of the current cycle. We’re just not that far from breaking out to “new highs” not only for the current cycle, but for the prior decade. What scares me is the Fed might just start believing the hype, that things are improving..
 
You know things are bad when some in your own party are angry..

He is just being Obama...The saga of Obama is marked by the uncanny ability to soar through the academic and government cursus honorum without ever being held to accountable for what followed. Obama’s selection as editor of the Harvard Law Review broke new ground. But to this day, no one cares much that his record was mediocre with no scholarly work to show for his tenure. For that matter, ditto also his law career at the University of Chicago: an impressive appointment, but no scholarly book as promised, not even an article, and no distinguished record of teaching. Not much of anything. The point of the Nobel Prize was winning it — not doing anything that might have earned it. Just as there was no foreign policy achievement that preceded the prize, so there was naturally none following it. Why expect anything different now?

Anyone who is disappointed by him is a fool, and just one of the rube... Every president faces the predicament of overpromising. Often the gap can be chalked up to the difference between campaigning and governing, between rhetoric and reality. As with past presidents, people desperate to turn the page on the previous administration voted for the Obama they wanted and now are grappling with the Obama they got." TWICE"

I got exactly what I expected, but I never wanted it.
 
Just a hint of tapering off. Bernanke's remarks yesterday had Wall Street bankers running for the exits. Bond yields ratcheted up. Markets sold off in dramatic fashion.
Bank repo rates in China last night were quoted beyond 25%. That led to the greatest stock market loss in the Hang Seng all year, a nearly 3% loss.


Hong Kong Hang Seng Index

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20,382.87
604.02 2.88%


Three days ago, on CNBC, every guest and host said "buy stocks." That's the same shit I've been listening to since this manufactured QE recovery began in Mar. of 09.
Like I said I am starting to look at some value stocks...value never goes out of style...I believe they will keep printing.. I dare them to stop! That said..It's always been a liquidity crisis. The world is awash in a sea of debt and even the masters of the universe can't change that. Extend and pretend time is over. The "spend our way out of debt" exercise is wrapping up. There is no "jobs recovery" just job splitting to evade Obamacare rules. There is no building renaissance as lumber prices tumble, no demand. Nation wide, they've built a few apartments and condos- maybe a few high end homes- but that's about it. Vacant commercial property is still every where.

I think people are buying manufactured homes and plunking them down on rural land to avoid taxes.

A small bag of groceries at Whole Foods still costs 70 bucks. Gas has remained steady at just under 4 bucks a gallon. The government tells us there is no inflation as they massage input figures and data while raising our taxes.

Is the end of QEternity here? I doubt it. If they stop QE, financial armageddon arrives. Look what happened yesterday when Bernanke just hinted at slowing bond purchases and tapering off. The actions of international markets in the last 24 hours should scare the begeezus out of them.

Last night, I clipped this comment from a Zerohedge story on Chinese bank repo rates.

It’s about fucking time... Can we get this impending collapse shit underway already? My food stockpiles are nearing their expiration dates.

This morning futures are down sharply. Silver went below 20 bucks. Bond yields continue to rise. There will be no shortage of cheap stock salesmen on CNBC telling you to buy the dip tommorrow.

The spend your way to prosperity experiment might be over. Now I will return you to your regularly scheduled financial apocalypse.
 
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And they want to legalize another 30 million people to add to the welfare rolls. As much as they are touting this immigration bill fiasco, their own CBO said that by doing this, we will lower middle class wages and increase unemployment.

Black Americans should be up in arms over this. They are the ones who will be hurt the most, and they already have a 15% unemployment rate with 50% youth unemployment.

All of this is also going to increase the crime rate, while cities are downsizing their current law enforcement capabilities.

Wished we could get some lawmakers in office who see beyond their noses and cared about the country as a whole, not just about their parties.
 
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