Here is a snapshot of the last throes of the British Pound as the financial crisis continues…yes continues to wind to it’s terribly gory conclusion. Rumors are flying that tomorrow Germany will announce that they are dropping the Euro as a currency and returning to the Deutschmark. We will see if that rumor plays out. Different large European gold and silver supply houses are shutting down sales because large scale panic buying of both has depleted their supply. Welcome to the new normal where gold looks sensible and everything else is a suckers bet.
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With Obama’s apparent strategy leaning towards exploring every single way to collapse the United States, it isn’t a surprise that we are bailing out Europe. Ah, all the wonderful leftists love to crow about this or that European fashion, ridiculous pensions, life time employment, huge bureaucracies, nanny state, check, check, check, check and check, leftists in the US want all of that! Don’t worry though because it is the rare conservative indeed who will speak out against the “safety net” indeed finding a so-called right wing politician who will admit forthrightly that he intends to cut spending is akin to finding a leftist questioning the idea that someone’s “needs” trumps my freedom. (This makes Conservative NJ Governor Chris Christie a real up and comer and Ron Paul a saint) We are going straight to hell and the goddamn hand basket is in flames! Anyways Zero Hedge as usual is all the way around the story. Really if you aren’t reading Zero Hedge, The Market Ticker ®, Financial Armageddon, Calculated Risk, Dollar Collapse and a few others then all of what is happening is a big ass shock to you. Being surprised is only fun for your birthday.
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Aren’t prices supposed to go down when you have a recession? Well yea unless you have devalued your currency so much that no one takes the “promise” of its value seriously. And when your currency is not attached to any rational measure of value promises is all you will get from the Government. Promises from governments have always worked out so well for those who have believed in them.
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September 17, 2009 – 08:27
Just so we are clear about what is bothering many regular citizens in this country. In my business if something doesn’t work I don’t continue to throw money at it. Used to be that we could tell who the Republicans and Democrats were by where they stood on throwing money towards problems. Read the snippet below and try to apply that same reasoning to the problem and you will probably guess this buffoon is a Democrat…you would be wrong.
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September 13, 2009 – 11:26
This is how depressions are turned into Great Depressions…we slap a tariff on Tires, they slap a tariff on auto imports, and we all go down the tubes together!
China investigates US auto, chicken imports By GILLIAN WONG BEIJING
China is launching antidumping investigations into imported U.S. auto and chicken products, the government said Sunday, adding to a string of trade disputes with Washington including a recent decision to raise tariffs on Chinese-made tires.
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This might be worth paying attention to but no one is reporting it. Scary stuff…but hey who cares eh?
HARRY Markopolos — the whistleblower on Bernie Madoff who proved to be much smarter than the SEC — says there are evildoers out there who will make the Ponzi scum "look like small-time." Markopolos gave a speech to 400 of the faithful at the Greek Orthodox Church in Southampton and predicted major scandals will soon be revealed about the unregulated, $600 trillion, credit-default swap market. "To put it in simple terms, it is like buying fire insurance policies from five different insurance companies on your neighbor’s house and then burning down the house," he said. HARRY MARKOPOLOS SAYS THERE ARE SCAMMERS WHO ARE BIGGER THAN BERNARD MADOFF- New York Post
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Larry Kudlow, as reported by Zero Hedge, is claiming on CNBC that earnings are Q2 earnings are MUCH better than Q1 earnings. Larry has a history of getting it wrong. Co-incidentally we have this commentary on Bloomberg by David Pauly revealing some of the dirty little secrets of the Wall Street analysts. Here are some snippets of Wall Street Analysts Keep Telling Big Earnings Lie.
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I asked, “Well what is going to happen to those people we can’t reeducate, that are diehard capitalists?” And the reply was that they’d have to be eliminated. And when I pursued this further, they estimated they would have to eliminate 25 million people in these reeducation centers. And when I say “eliminate,” I mean “kill.” Twenty-five million people. I want you to imagine sitting in a room with 25 people, most of which have graduate degrees, from Columbia and other well-known educational centers, and hear them figuring out the logistics for the elimination of 25 million people. And they were dead serious.
When you steal $1,000 it is a crime, when you steal trillions it is a statistic! I am from the government and I am here to help!
Critical update: Zero Hedge thrives on its proactive readers, yet I never expected a barrage of information such as the one I received since posting this. In the hundreds of emails received over the past several hours, much of it from current industry insiders, a substantial portion is likely actionable, and upon further refinement, enforceable.
Zero Hedge will filter the data and forward our work product directly to appropriate Attorney General offices and local FBI branch offices. In retrospect, approaching the SEC and FINRA is futile, as they are both as much an integral part of the system as the perpetrators they are supposed to protect against. We’re slowly learning that fact. And we are very, very pissed off.
In Obama’s defense "Obama said The US Economy is not the economy he knew for 20 years.”
8 states see record unemployment rates in May
WASHINGTON (AP) — The unemployment rates in eight states hit record-highs last month and only two — Nebraska and Vermont — did not report increases.
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Because Maybe You Might Be Believing That Bullshit About Green Shoots…Keep Your Powder Dry, Buy Ammo, Food and A Bug Out Spot…This Ain’t Even Started Being Bad Yet! These clowns are more clueless than the 3 Stooges.
Austrian Filter nails the lying hides of Paulson and Bernanke to the wall so you can study their bullshit up close and personal. Bastards should be in Jail!
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Stock Market manipulation? Fantasy? Tin Foil territory? Maybebut if someone asked you 3 years ago to believe that Bear Stearns, GM, Lehman Brothers, and other so-called paragons of US Corporate might would be gone in 2009 would you have thought it was tin foil ranting?
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Bubba is pissed and I am betting you are tooride along with this very pissed off dude. He makes some valid points along the way and kills a bunch of Chinese shit as well.
YouTube – microwave oven made in peoples republic of china
Sarah taking it to that bastard in the White House! You Betcha!
PALIN: Thats how I feel! I feel like and I think that more and more constituents are going to open their eyes now and open their ears to hear what is really going on and realize ok Maybe we didnt have a good way of expressing that, or articulating that message of here is what America could potentially become if we grow government to such a degree that we cannot pay for it and we have to borrow money from other countries, some countries that dont necessarily like America.
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By Pierre Legrand
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Also posted in 2008 Presidential Election, Crime, Democrats, Eco Freaks, Global Warming, Gun control, collapse of the united states, health care, leftwing wackos, obama, palin, sarah palin
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German Chancellor Merkel spoke out against the policy of the Central Banks of the United States (Federal Reserve), Great Britain and the EU. When a German Chancellor speaks out against the policies of the Central Banks of the world we would be wise to listen.
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By Pierre Legrand
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Also posted in Democrats, Immigration, Politics, collapse of the united states, illegal immigration, leftwing wackos, obama, oil, palin, politcal corruption, ron paul, sarah palin
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That sure is a steep drop for an economy with only 8.9% of the populace unemployed. Could the Government be fudging the unemployment numbers?
WASHINGTON (Reuters) — U.S. consumer borrowing fell more than expected in March, plunging a record $11.1 billion, a Federal Reserve report showed Thursday.
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On April 28th Obama fulfilled a campaign promise regarding bankrupting Coal Power plants. He accomplished this by having his EPA pull a permit that had already been issued for the Desert Rock Energy Facility. Well that’s not all the EPA is pulling retroactively! They also pulled the flattering report they themselves wrote regarding the very same facility.
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February 20, 2009 – 10:24
Naturally a goddamn Republican, Transportation Secretary Ray LaHood, in Obama’s Cabinet is proposing this abortion.
The system would require all cars and trucks be equipped with global satellite positioning technology, a transponder, a clock and other equipment to record how many miles a vehicle was driven, whether it was driven on highways or secondary roads, and even whether it was driven during peak traffic periods or off-peak hours.
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February 11, 2009 – 23:52
Read these first few paragraphs of an article in the Telegraph.
“Estimates of total expected asset write-downs suggest that the budgetary costs – actual and contingent – of asset relief could be very large both in absolute terms and relative to GDP in member states,” the EC document, seen by The Daily Telegraph, cautioned.
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February 11, 2009 – 12:06
___________
(1) Establish a Reconstruction Finance Corporation, which would use Treasury funds to lend to banks, industries, agricultural credit agencies, and local governments; (2) Broaden the eligibility requirement for discounting at the Fed; (3) Create a Home Loan Bank discount system to revive construction and employment measures which had beenwarmly endorsed by a National Housing Conference recently convened by Hoover for that purpose; (4) Expand government aid to Federal Land Banks; (5) Set up a Public Works Administration to coordinate and expand Federal public works; (6) Legalize order restricting immigration; (7) Do something to weaken “destructive competition” (i.e., competition) in natural resource use; (8) Grant direct loans of $300 million to States for relief; (9) Reform the bankruptcy laws (i.e., weaken protection for the creditor). Fun Facts Regarding Economic Hardtimes
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This just about covers it.
Barack Obama inauguration: this Emperor has no clothes, it will all end in tears
Barack Obama, Freedom of Choice Act, Neil Kinnock, stimulus package, Tony Blair
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Because when you are 0-1,000,000 ya need to try again. After all just because you have failed the last million times doesn’t mean that this very next time won’t succeed! Definition of insane by Alfred Einstein, Insanity: doing the same thing over and over again and expecting different results.
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