Did you take a close look at that chart...UNREAL..
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Markets today..
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Cruella
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Know what I heard about disability? It's the states pushing people who have exhausted their uneployment, onto the SDI programs. These people, and the others who have dropped off the unemployment rolls that haven't found work but still can, need to be counted into the unemployment figures. I bet our real unemployment numbers would be about 16/18%.
Yes the figures are dramatic but hardly unexpected. Yes the newly handicapped are to a large degree the long term unemployed. Hate to think its state officials behind it but they have to be playing a part.
Did you guys know about the global central bank balance sheet expansions, we’ve now come 180 degrees from where we were in early 2009. No longer are central bank quantitative easings defined either in terms of time or magnitude – several central banks have recently promised unlimited money printing over an indefinite period of time. This is exactly what the US Federal Reserve continues to say and do four years into our current economic recovery. The election of Abe in Japan a month ago cements the fact that the Bank of Japan will join in unlimited money printing. The Bank of England is on the cusp of another round of money stimulus. And despite the recent appearance of calm in Europe, banking system recapitalization has not even begun – it will be quite the eye opener in terms of European Central Bank balance sheet expansion to come. Four years after the Great Recession reportedly ended, global central bank actions are pushing the definitional limit of “unprecedented”.
So where does this leave us? It still leaves us with global central bankers committed to unlimited and indefinite money printing, but also a persistent ongoing disconnect between the printing of money and actually getting that money into the real economies globally, as has been the case since 2009. The money they “create” still needs to find a home. And now that we’ve moved into unlimited money printing mode, that means one big home. As a rule, central bankers can create additional liquidity, but they cannot control where or how that money will be put to use. Ideally, they would like to see banks increase lending with this unprecedented liquidity and theoretically get that money into the real economy, but bank lending has been very slow.
Almost as default, that leaves the global financial and commodity markets as a potential repository for historic global central banker largesse.
Over the past four years we have heard more than a number of commentators tell us that “the stock market is doing well so the economy must be doing well”. Unfortunately this has not proven to be the case as we continue with one of the most anemic economic recoveries on record. Although we are certainly not there yet, the danger is that this current round of extraordinary excess central banker liquidity creates further asset bubbles, very much as happened with the late 1990’s tech stock bubble and the clear bubble in mortgage lending in the middle of the last decade. By the their own admission, they missed “seeing” the last two asset bubbles they had a hand in creating. Now that we have moved into the endgame of global central bank monetary expansion, all we can do is hope central bankers everywhere have had their annual optometrist check-up.
So where does this leave us? It still leaves us with global central bankers committed to unlimited and indefinite money printing, but also a persistent ongoing disconnect between the printing of money and actually getting that money into the real economies globally, as has been the case since 2009. The money they “create” still needs to find a home. And now that we’ve moved into unlimited money printing mode, that means one big home. As a rule, central bankers can create additional liquidity, but they cannot control where or how that money will be put to use. Ideally, they would like to see banks increase lending with this unprecedented liquidity and theoretically get that money into the real economy, but bank lending has been very slow.
Almost as default, that leaves the global financial and commodity markets as a potential repository for historic global central banker largesse.
Over the past four years we have heard more than a number of commentators tell us that “the stock market is doing well so the economy must be doing well”. Unfortunately this has not proven to be the case as we continue with one of the most anemic economic recoveries on record. Although we are certainly not there yet, the danger is that this current round of extraordinary excess central banker liquidity creates further asset bubbles, very much as happened with the late 1990’s tech stock bubble and the clear bubble in mortgage lending in the middle of the last decade. By the their own admission, they missed “seeing” the last two asset bubbles they had a hand in creating. Now that we have moved into the endgame of global central bank monetary expansion, all we can do is hope central bankers everywhere have had their annual optometrist check-up.
Only the last paragraph is mine..
Insanity..Oh yeah, “doing the same thing over and over again and expecting different results”.
Today’s example, via the usual suspects, just boggles the mind:
I mean, it hasn’t even been a decade yet. We’re not even doing this with a new administration. These are, for the most part, the same people who helped crash it last time.
Why is it that “leaving too many people behind” is the priority, when in the past those who were supposedly left behind, found some way in the future to catch up? Why is it government’s job to insure risky loans because of that feel good claptrap? Because we’re freakin nuts, that’s why. We’re bound and determined to ruin this country based on an ideology that plays to feelings and emotions rather than good common sense, the laws of economics and freedom and libery. That’s why. This is tar and feathers worthy, yet we’ll sit around like lumps while these idiots claims it’s a good idea because it is only fair.
Today’s example, via the usual suspects, just boggles the mind:
The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
This is just, frankly, incredible in its stupidity. We’ve been here, done this and suffered the consequences in terms of a financial meltdown and an economy that seems to be in permanent recession. Consider the administration’s solution to the perception that we’re “leaving too many people behind: Let’s do again what was a major contributor to the last melt down. No prob. They’ll just blame the banks and the market.... The result: more people left behind.President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
I mean, it hasn’t even been a decade yet. We’re not even doing this with a new administration. These are, for the most part, the same people who helped crash it last time.
Why is it that “leaving too many people behind” is the priority, when in the past those who were supposedly left behind, found some way in the future to catch up? Why is it government’s job to insure risky loans because of that feel good claptrap? Because we’re freakin nuts, that’s why. We’re bound and determined to ruin this country based on an ideology that plays to feelings and emotions rather than good common sense, the laws of economics and freedom and libery. That’s why. This is tar and feathers worthy, yet we’ll sit around like lumps while these idiots claims it’s a good idea because it is only fair.
Obama pushed this cart as a community organizer. he is a creature of habit. typically BAD habit.
Remember the days when the markets reacted appropriately to news? It's been about 6 years since Ben Bernanke decided to ignite the mother of all bull markets to avoid a deflationary death spiral brought about by crooked bankers making crapy loans. Ben has added trillions upon trillions of unbacked dollars...
Are we in a recovery? Is a recovery imminent? Of course not. Though the markets have been good to me....the economy sucks!
The latest job report was actually bad. The media of course made it sound like Happy Days as usual. Unfortunately to prove otherwise, you have to be willing to go dig for the real numbers which is always a pain. http://www.bls.gov/
The easiest way to gauge the health of employment is actually quite simple. Use tax revenue. In fact that is so simple- you can't massage it. Which is why the government and economists refuse to use it. Think social security withholding. That's a pretty accurate gauge.
Then we have POMO. Today is a POMO day.
Are we in a recovery? Is a recovery imminent? Of course not. Though the markets have been good to me....the economy sucks!
The latest job report was actually bad. The media of course made it sound like Happy Days as usual. Unfortunately to prove otherwise, you have to be willing to go dig for the real numbers which is always a pain. http://www.bls.gov/
The easiest way to gauge the health of employment is actually quite simple. Use tax revenue. In fact that is so simple- you can't massage it. Which is why the government and economists refuse to use it. Think social security withholding. That's a pretty accurate gauge.
Then we have POMO. Today is a POMO day.
We're broke, We owe trillions. Look at our budget deficit... look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out.
All the market gains experienced recently, with the Dow first topping 15,000 on its way to setting record highs again, are giving investors a false sense of security.
It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception...
The Fed knows that the U.S. economy is not recovering. It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode.
I know eventually interest rates will rise... and when they do, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone. Not if but when...
All the market gains experienced recently, with the Dow first topping 15,000 on its way to setting record highs again, are giving investors a false sense of security.
It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception...
The Fed knows that the U.S. economy is not recovering. It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode.
I know eventually interest rates will rise... and when they do, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone. Not if but when...
I miss the days when the market actually behaved according to credible news reports. There are many people that think the Fed can never stop QE or POMO because once they do- there will be a rush for the exits. So the alternative is to simply continue to print, to debase your currency, to fuel liquidity until such point in the future when the truth becomes self evident- hyperinflation occurs- and the party is over.
Name the last recovery that required trillions upon trillions of dollars, printed out of thin air, to be added to our economy. Go ahead. You have five seconds. {Jeopardy tune}
Answer, none.
So the answer is quite simple. If we were actually in any kind of economic recovery- the Fed wouldn't be adding a trillion a year in liquidity would it?
Name the last recovery that required trillions upon trillions of dollars, printed out of thin air, to be added to our economy. Go ahead. You have five seconds. {Jeopardy tune}
Answer, none.
So the answer is quite simple. If we were actually in any kind of economic recovery- the Fed wouldn't be adding a trillion a year in liquidity would it?
Gipper
Well-Known Member
There is a great deal of manipulation of the markets by government central banks and elites like George Soros. There was manipulation going on when gold mysteriously dropped like a stone a couple weeks ago. It is hard to predict what the future holds with government and elites manipulating markets.
Once the Fed stops QE, you bet things will be very dicey. I heard a so called expert claim the Dow could drop 50-75% very quickly. I plan to exit the stock market, because the crash is coming, but when to exit is the question.
BO and the Fed plan to continue deficit spending and QE indefinitely. When the shit hits the fan, the government will just confiscate the wealth of private citizens, as has been done before. Those who have chosen to save and invest their wealth, will get screwed again.
I know a littke about what your saying...In 1933, The United States government seized all of the gold held in private hands and made it illegal to "horde" it. Ostensibly, they had an excuse. Currency was minted and backed by gold. The US Treasury had the right to withdraw it's use of gold and use another medium of exchange. Of course, this was simply an excuse to seize all of the gold and inflate away debt by printing unbacked dollars. Interestingly enough, in this link that I provide, the government telegraphed it's intentions to bankers. Bankers were able to "front run" the impending seizure and make enormous profits. http://jessescrossroadscafe.blogspot.com/2009/01/last-time-fed-devalued-dollar-to-save.html They did the same thing recently when the Federal Reserve Bank announced it was buying treasuries. Large banks simply went out and bought the maturities that the Reserve Bank was going to buy, running up the price and selling at a profit. Of course all of that conduct should be illegal- but it is not. In the end, the taxpayer pays. At interest. Unfortunately, nobody seems to give a shit. When you have that level of apathy, with an idiot public glued to their cellphones, it can only be a matter of time before the criminal banking class in this country turns us into a Banana Republic. They're doing it now. Without fear of criminal charges. Just look at the outright theft (1.6 billion) of client accounts at MF Global.
That's where we fit in.
This time around the government has no excuse to seize gold and silver. None. They have no claim, no standing. But that doesn't mean they won't try to take it and that certainly doesn't mean they won't try taxing you to death as they print and print and print- trying to avoid an inevitable debt collapse. They may try to tax all transactions involving precious metals because the one thing that both the bankers and the government fear and hate- is competition from precious metals. If they control the medium of exchange- they are guaranteed their cuts. When citizens start bartering, trading labor, using precious metals to settle debt, and not reporting income producing activities, bankers and government have a problem, don't they? They get cut out...
But my reasons for owning gold is not because I believe the end is near it's because the easiest and safest way to transfer wealth without paying taxes is through the use of valuable commodities that the government cannot track. Think about that. You use your capital to purchase precious metals. Who knows how much you have? You protect your heirs from the death tax. More importantly, you do not enrich a voracious government who wastes your work product by delivering it to greedy, thieving bankers.
If it's in the bank- it ain't yours. Bet me when I say possession of precious metals is still- 9/10ths of the law just as it was in 1933. They closed banks back then and just took it out of safety deposit boxes. It's gonna be a little harder for them to pull that crap again.
Gipper
Well-Known Member
Because most Americans know nothing of history, they do not know what their government has done in the past and is fully prepared to do again.
FDR confiscated private gold within the first 100 days by executive order. He bought all the gold at $20.67 and ounce and then merely devalued the dollar by setting the gold price at $35 an ounce. By executive order he removed gold from the hands of private citizens, who had the right to own gold since the founding of the nation. By executive order he arbitrarily raised the price of gold, which had the same price since the 1830s. No previous president ever considered such an audacious act of tyranny. But, FDR was an amazing tyrant.
Then four decades later Tricky Dick (another amazing tyrant) closed the gold window....again by executive order. Thus removing decades of precedent with the stroke of a pen. And now with fiat money, the statists were allowed to expand government and build the welfare warfare state into the monster it is today.
I am not so confident the Feds can't confiscate gold again. Their power is unlimited. They are looking at TAKING pension funds, 401k plans, and who knows what else. They screwed GM's bond holders with no consequence. I suspect they will have no problem screwing anyone they wish to. And with a feeble minded pacified public, who will stop them?
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Gipper
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I agree. BO and many others in our government, both Ds and Rs, see OUR savings and investments as THEIRS. After all, NOTHING is more important than funding a bloated welfare warfare state.
