to herd or not to herd
For the individual wanting to break free of the unending sea of collectives and institutions contending for his soul...and more...put together by a Visionary Philosopher, so I've been told. Maybe you want to stay tuned to see if that's true... with notes on The End of the Nation State.
Monday, April 27, 2009
Thursday, April 23, 2009
When someone tells you all is now economically fine and dandy...
near the bottom)
Wednesday, April 22, 2009
More bullshit exposure
First, I’ll give you the big-picture facts. Then, I’ll show you how big U.S. banks are painting lipstick on some of the fattest pigs ever raised...Full article
...As we have written here so often … as we documented in our recent white paper … as we showed in our presentation to the National Press Club … and as we explained again with new data in our follow-up press conference, the nation’s banking troubles are many times more severe than the authorities are admitting.
Monday, April 20, 2009
Today's $13 trillion bailout picture of the world economy
Friday, April 17, 2009
Corporate tax crash
A little enlightenment here.
Most don't know this but corporations don't pay tax.
They are tax collectors since the taxes they pay are
built into the price of their product or service.
That said, business has collapsed. Expect unemployment
to soar to over a million a month soon. It's already
over a half a million a month now.
Notwithstanding the clowns on MSM and hooting from
the worlds' capitols, this will take a very long time
to recover. The latter will soon be shell-shocked and
broke as their expenses soar and their receipts dive.
Tuesday, April 14, 2009
How do you like it so far?
and covered with bullshit) here it is...
So, while Congress approved a mere $700 billion in emergency funding for the TARP, Geithner and Bernanke deftly sidestepped the public opposition to more bailouts and shoveled another $3.3 trillion through the back door via loans and leverage for crappy mortgage paper that will never regain its value. Additionally, the Fed has made a deal with Treasury that when the financial crisis finally subsides, Treasury will assume the Fed's obligations vis a vis the "lending facilities", which means the taxpayer will then be responsible for unknown trillions in withering investments.Something to remember tomorrow, 'murikun tax day.
Trust has gone down the toilet with everything else.
I'm having fun.
The whole thing.
Monday, April 13, 2009
Twenty-eight states are invoking the law of the land, the U.S. Constitution, by rolling out legislation to assert their sovereignty as free states in order to keep from being undermined by the never-ending swarm of unrestrained federal decrees....That's all fine and dandy, but if you want something done right, better do it yourself.
Friday, April 10, 2009
The Mother of All Bubbles
What Mr. Greenspan and Mr. Bernanke have achieved is historically quite unique. They have managed to create a bubble in everything, everywhere in the world: in real estate, equities, commodities, art, worthless collectibles...Ooooha.
The whole interview.
Thursday, April 09, 2009
The Failure of The Big Con
They're pulling out all the stops to "instill confidence" - - - and they've got it right. As in any confidence game, that's the only thing that can save our system -- so we have to hush-up anybody who criticizes any government economic plan or official. --Kneel Wright
The past week marked an acme in the U.S. government’s Orwellian tactics of fooling the “proletariat” into believing the G-20 meeting was, in Obama’s words, “the turning point in our pursuit of global economic recovery.”link
The net will do it.
Wednesday, April 08, 2009
Switzerland threatened with bankruptcy
The rapid growth in many countries of Eastern Europe was stimulated through loans in Swiss francs. Swiss banks and offshore institutions loaned the local banks francs, which passed the francs onto their customers. The loans were attractive because borrowers pay interest rates much lower than required for loans in local currency.Read.
Now, this system has been shaken?
Yes, the system has only worked as long as the exchange rate between the franc and the currencies were reasonably stable. But that is not currently the case. For example, the Hungarian forint and Polish zloty have lost over a third of their value against the Swiss franc in recent weeks. Because of the devaluations of the national currencies, the debt to Switzerland has increased by more than one-third. Many of the Eastern European countries have serious payment difficulties, and are virtually bankrupt.
What does this mean for Switzerland?
It is likely that a significant proportion of the total 200 billion U.S. dollars of Eastern European loans were issued in Swiss francs. According to a report by the Bank for International Settlements worldwide franc loans equivalent to around 675 billion U.S. dollars are in circulation - which was about 150 billion directly from Switzerland, 80 billion of Great Britain and about 430 billion U.S. dollars through offshore financial centres. How many of these loans have gone bad is not known. But even if the failure rate is 20 percent, the banks would lose a lot of money.
Wednesday, April 01, 2009
The coup de grâce
Bernanke is risking something worse than a depressionFull essay.
The newly created money will follow the laws of gravity and flow downhill to the bond market where the fun is. Risk-free bond speculation will further reinforce the deflationary spiral until final exhaustion occurs: the economy will collapse as a pricked balloon. Instead of hyperinflation and the destruction of the dollar, you’ve got deflation and the destruction of the economy.
Denninger says that the “death spiral” will lead to fire sales of assets in a mad liquidation dash and, ultimately, to the collapse of both the monetary and political system in the United States as tax revenues evaporate. He opines that probably not one member of Congress understands the seriousness of the situation. Bernanke is risking something much worse than a Depression. He is literally risking the end of America as a political, economic, and military power.
Indeed, the financial and economic collapse of the last two years must be seen as part of the progressive disintegration of Western civilization that started with government sabotage of the gold standard early in the twentieth century. Ben Bernanke, who should have been fired by the new president on the day after Inauguration for his part in causing irreparable damage to the American republic may, in the end, have the honor to administer the coup de grâce to our civilization.