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“Now remember, when things look bad and it looks like you’re not gonna make it, then you gotta get mean. I mean plumb, mad-dog mean. ‘Cause if you lose your head and you give up then you neither live nor win. That’s just the way it is.” – Josey Wales
When you reach the point that new debt creates negative changes in economic activity you either stop the idiocy of continued debt issuance or you're destined to have an economic catastrophe.
Hatzius just cut his Friday NFP forecast to 100,000. Just like last August when the horrendous NFP number set off QE2, so Wall Street is in full panic mode, as it tries to find a way to crush stocks enough to give Bernanke validation for QE3...
They aren't Austrian economists, so they don't understand the business cycle. When house prices were going up, the conservative thing, in their eyes, was to buy a house, since houses "always go up in value." They didn't understand it was a Fed scam..
"The control of information is something the elite always does, particularly in a despotic form of government. Information, knowledge, is power. If you can control information, you can control people." Tom Clancy
One of the side effects of the overarching "price stability" mandate of the Fed, it turns out, is the fact that since its inception, food and pretty much all other commodity prices have, well, gone up non stop.
The single greatest conceit of the Status Quo in the U.S., China and Euroland is that systems and trends can be tightly controlled. That conceit is slowly being revealed as hubris, as all sorts of things are spinning out of the control of the...
The Fed's uberthinkers, in this case Elizabeth Duke: "Families, particularly those with low-to-moderate incomes, are actually facing the decision between buying gas to drive long distances to work and paying their mortgage."
We have had a rigged market that has been dominated by not just the Fed, but all the central banks. Today over half of the $9 trillion in publicly-held debt is in central bank vaults. I call it the 'Monetary Roach Hotel.'"
Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy.
As such, and with fiscal stimulus a dead end, the Fed has two choices: watch as the economy collapses in flames to a state far worse than its pre-QE1 outset, or do more of the same. That's all there is. The rest is irrelevant.
The economic peril that we find ourselves confronted with, has been ninety-eight years in the making. The confluence of debt, demographics, delusion, and denial has left the country at the precipice of annihilation.
This seeks to present the concerns as mere noise in the media, rather than a result of troubling incidents and widespread abuses. In addition, notice the failure to mention the elephant in the room: chain of title issues, which are so widespread...
Those who have been betting on deflation for the past five or ten years have been wrong. They could be right some time in the future. But one can be wrong on a mistaken principle for a very long, long time.
In other words, the only thing that can prevent an economic contraction in the next 2 years of semi-austerity, will be more monetary easing.
Two economists at the Federal Reserve Bank of San Francisco, they have just reached the conclusion that Fed money printing doesn't cause price inflation. In fact they go one better, they claim that Federal Reserve asset purchases are deflationary.
Even modestly bad news even if of a secondary importance nature, sends the market surging higher as expectations that QE3 is inevitable, hit 100%. Then when good news comes, and QE3 is deemed to be impossible, the market plunges.
Central banks and large financial institutions are constantly manipulating the Forex, precious metals and stock markets all over the globe. You see, in today's global economy the "stakes are so high" that the free market cannot be trusted.
The New York Federal Reserve Bank confirmed that it intervened in currency markets on Friday for the first time in more than a decade. The disclosure came a day after the Group of Seven major industrialized nations pledged in a statement to join in a
One "Anonymous" calls for the dawning of "Operation Empire State Rebellion": a "relentless campaign of peaceful resistance" against organizations that participate in the "control" of large populations through pieces of paper and bits of data.
The DXY has just breached the support from 2010 lows. Ben Bernanke's stealth plan to inflate the debt is working. In other news, the dollar is now one lap ahead of everyone in the devaluation race.
The president may be doomed by factors beyond his control. It is a kind of Greek tragedy.
Do you trust men with guns and badges to provide long-term economic growth? Or do you trust the free market?
I could be wrong—hell, most of the time, I’m way wrong. But I do think that today is the day the dollar breaks down.
Drew Phillips interviews Heather Lewis, in attendance at the trial and gives her perspective of the last 7 days in court now that the closing arguments have been made. See Heathers day by day blogging at http://Liberty4free.com
One wonders after seeing this chart, and with QE Deux set to end on June 30th. You know this can't be allowed. The Fed will continue to paper over the debts and continue to monitize the debt. Oh, silver is at $35.50/oz.
Obviously, a reserve currency would be not only extremely useful, but quite critical in achieving the goal of China's conversion to an inwardly focused, middle-class reliant society.
Bill Gross now goes for the jugular with the $64,000 question: with "nearly 70% of the annualized issuance since the beginning of QE II has been purchased by the Fed, with the balance absorbed by those old standbys – the Chinese, Japanese...
Investors should view June 30th, 2011 not as political historians view November 11th, 1918 (Armistice Day) but more like June 6th, 1944 (D-Day – a day fraught with hope for victory, but fueled with immediate uncertainty and fear...
"We are broke, broker than all get out... We prefer to put on the Santa Claus suit and celebrate Christmas."
