Peter Schiff is one of the few who gets up and states the truth regardless if people want to hear it or not.
...and there goes the greenshoots, buh bye
In a dramatic reversal to the moderating trend from the past several months, Mass Layoff Events surged from 256,357 in June to a whopping 336,654 in July, a 31% increase, and surprisingly the second highest reading for the year since January's 388 thousand. Actual MLE increased by 21% from 2,519 to 3,054.
I wouldn't be so pessimistic if we just simply took the downturn medicine as we must, then we could actually see light at the end of the tunnel but nope, the politicians are hell bent on fighting taking that medicine in the name of getting elected.
The reason why politicians do what they do is that voters like being bribed with their own money, because most voters today are rather uneducated about money matters and how increased deficits lead to higher debts, which lead to slower economic recoveries, which can lead to economic collapses.
If people understood the connection between deficits and economic depressions, they'd be pissed.
The reason why politicians do what they do is that voters like being bribed with their own money, because most voters today are rather uneducated about money matters and how increased deficits lead to higher debts, which lead to slower economic recoveries, which can lead to economic collapses.
If people understood the connection between deficits and economic depressions, they'd be pissed.
Two things
A government with anonymous personel would maybe fix that... if you only knew their agenda but never saw their faces.
Economics should be mandatory but it never will because sports is more important than life skills.
Sad world huh? Stand back and observe it as it improves! /sarcasm
Be careful in believing in this recovery, there is a lot ommision being made by the news right now. I know I'm a plethora of doom and gloom but I really would rather have good news to talk about here. Robert Kiyosaki lays down nearly all the conditions that exist the news is not considering at the moment.
Preparing for the Worst
"Is the crisis over?" is a question I am often asked. "Is the economy coming back?"
My reply is, "I don't think so. I would prepare for the worst."
Like most people, I wish for a better future for all of us. Life is better when people are working, happy, and spending money.
The stock market has been going up since March 9, 2009. Talk of "green shoots" fill the air. Yet, in spite of the more positive news, I continue to recommend that people prepare for the worst. The following are some of my reasons: ... http://au.pfinance.yahoo.com/b/richricher/80/preparing-for-the-worst/
Robert Kiyosaki lays down nearly all the conditions that exist the news is not considering at the moment.
I'm not sure that it's wise to wholly accept this article at face value. Like much of his other writings, it is highly anecdotal and offers little in the form of proof or proper justification. Some of what he says does make sense and can be reasonably deduced through common sense, but other aspects are pretty far off the wall.
I may be completely missing something, but to me it is plain inane to say:
2. In my view, this global crisis has been caused by the Federal Reserve Bank, the U.S. Treasury, Wall Street, and the central banks of the world. They caused the problem, profited excessively in doing so, and now profit by being asked to fix the problem.
when the US treasury is laughably far in debt. Profited excessively? Maybe it is a mistake in article structure but as it stands that statement is just messed up.
I'm also having a hard time discerning who his target audience is: just who is he telling to prepare for the worst, and what does he hope to accomplish by it? If he is trying to tell the average investor to simply be cautious with their money, it is commendable advice but likely falls on deaf ears. What kind of person who has money available for investment actually needs to be told that? If he is telling people to not invest, and to be ready for a market collapse then it is possible that he has forgotten a key concept of our market: it needs steady investors to stay afloat. If people start pulling cash out en-masse, we'll see a bear for sure. Without it, it is only a possibility. My personal thought is that he really has no target audience; and that like much of his other work, it is a whole lot of fluff with not a lot of point or useability.
Kiyosaki is one of the few to see this mess coming years ago, he wrote a book called Prophesy in 2002. He has been frightfully accurate in calling the trends.
Quote from "Rousse" »
I may be completely missing something, but to me it is plain inane to say: when the US treasury is laughably far in debt. Profited excessively? Maybe it is a mistake in article structure but as it stands that statement is just messed up.
The US treasury is not in debt, we the tax payers are, all of this came at our expense. I'm not sure how the treasury profited but I am sure how the FED did. It's an entity that is tax exempt, has never been audited, is privately held by some of the largest banks in the world such as JP Morgan Chase (it's largest holder). It makes money by the interest it charges for loaning money the banks.
That's right we tax payers pay interest on our very money, every dollar printed, sounds exciting doesn't it? To know our money has zero intrinsic value. I could type pages on the points in your post, but honestly I would be repeating all my previous posts, what he is saying really does make a lot of sense. I'll end with a question. What have they fixed that is going to ensure we don't see another crisis?
I wish that were true Ranim but in my 43 years of crawling around on this planet I noticed arrogance and ignorance are never in short supply. When I was in high school as far back as 1982 the news was making issue of debasing of our currency, the growing national debt, social security, medicaid, and medicare, getting robbed with IOU's to pay for over spending and how it would come to bite us all in the ass in the long run. Experts were warning us that far back, in fact some were warning of the implications of leaving the gold standard in 1971 when Nixon detached us from gold. Go back and look at the US Monetary Base chart and others I linked here months ago. Notice the the trend has never really changed course with the passing of 8 US presidents.
This is the largest financial bubble in US history, we are sitting square in uncharted waters now. Blurred in these charts is the difference between price and value. The powers that be, have done their best to keep the people from feeling the pain of recession now at least three times, after the dot com's, 9/11, and again after this last epic crash. Crash's are called corrections because a crash is a cure to balance an imbalanced market, it is the medicine for the systemic a bubble. We should have sounding the alarm when everyone was singing "Blue skies are here again" on the trip up" Our government in their quest for reelection, always votes with what will keep their supporters happy and pain free. So they borrow and tell them I have saved the day, please vote me in again. No party, no politician has helped change our course in 40 years.
Deficit pending is like a drug, we feel good as long as we can get another hit of the borrowed cash. When we finally start to feel the pain of not being able to pay off our obligations because we can barely make the minimum interest payments alone, then no hit of cash will make the pain stop. We then will have to suffer the hard withdrawls of no more cash. This is going to happen sooner then later for several reasons, unemployment is at a high, and so tax dollars coming in are at a low, the FDIC officially went broke on the 25th of August, yesterday. So it will have to borrow money now to insure depositor losses of failed banks. We do not have product producing foundation, we are sitting on a service based industry so to recover will require we start making stuff again here in the US.
All those green-shoots we saw and companies posting profits we're the result of company layoff's, they saved money by cutting jobs and productivity so the books could look good. That won't last. The banks are showing profits as a result of borrowed money they were injected with, that won't last either. What will last is to start investing in or productive capacity, we need to start making things again. We need to stop borrowing money we can't pay back. We will default on this massive debt we have, China knows this and that is why they cut up the credit card last January.
The US treasury is not in debt, we the tax payers are, all of this came at our expense. I'm not sure how the treasury profited but I am sure how the FED did. It's an entity that is tax exempt, has never been audited, is privately held by some of the largest banks in the world such as JP Morgan Chase (it's largest holder). It makes money by the interest it charges for loaning money the banks.What have they fixed that is going to ensure we don't see another crisis?
Hmm I guess I have to concede ignorance on this. I was under the impression that the US treasury receives all taxes, and authorizes / disperses all funds to government programs, and that it calculated the national debt. Skimming through wikipedia articles for Us Treasury Department and the FED I'm led to belive that the actual debt is owed by one or shared by both these instiutions. I'm just having a hard time picturing that the debt is assessed to the people, and not to a governmental agency. Can you elaborate on this a bit, or point me to somewhere that explains it? No sarcasim or anything here, just genuine curiosity; most of my knowledge is in math and CS, I don't know a whole lot about high level government & economics so some nuiances are easily lost on me
Do you think that the people responsible will get what's coming to them?
you mean the american people? no.
the fatal mistake was made when banks started giving loans to those who were ill prepared to pay them back. and when they didn't pay up. everyone else who uses that bank pays a share of their debt... it would be dumb to think that the bank itself would owe any debt. especially since we basically give them rights over our money, aka your life savings, your child's education. almost seems like its not worth the interest they pay us.
sorry for the rant there.
Rollback Post to RevisionRollBack
[SIGPIC][/SIGPIC]I find your lack of faithdisturbing.
Rousse those Wiki's are correct but they lack many details, the men who pull the strings count on the publics ignorance. Roughly 4 years ago I wanted to learn about investing so I started reading books and doing research to learn more, and I did but I also discovered some scary stuff I did not intend to learn. What I discovered was a huge crash was coming, and the savviest of the rich had positioned themselves for it and were counting on it. I learned the history of money and discovered how our real wealth was robbed from us. Along with a great many other things our government is doing, both parties, that is concerning.
America is still the easiest place to become wealthy so I'm not down on this country, if you learn the trends and learn to ride those waves then opportunity here id wonderful. So it's not all doom and gloom, it is angering though on the level that the average person is going to get screwed in this because they didn't devote their time to these things, they chose to be a teacher, an accountant, etc. and for that they are penalized and that makes me mad. I would rather be just a system engineer and not think about stuff like this, but circumstances won't allow that if I want to make sure I retire with some dignity.
Here is a short list of a few I've come across over the years, a mostly video bread crumb trail for any who want it, this will lead you to more. I'll say up front, I do not necessarily agree with every point in all of these, some truths though are obvious and easy to pick out. Overall though the message is the same. How can I say much of what I do with confidence? I had a few wake calls like at this convention put on by Robert Kiyosaki I attended in Los Angles in 2006, this video (which I didn't record) was made 2 years before the stock market crash.
This is what the FED doesn't want you know, BTW many of the views here come from the Austrian school of economics, I tend to agree with it. The one that people like Paul Krugman are embracing is from the Keynesian economics. I think the Keynesian's are in for a rude awakening.
Chris Martsenson's crash course on economics, probably the best 3 hours you can spend for the next 20 years of your life. It covers the 3 E's. Economy, Energy, and Environment
The history of the US dollar, how we got robbed, how this economic mess was destined to happen, and why change is unlikely with our current system -- Dr Lawrence Parks.
A lot of good video's on gold and silver, yes I do believe it's going to be a good store of wealth, the hero's of Diablo may have been on to something collecting all that gold.
That's a much more detailed explanation of the solution, as well as methods of spreading awareness. There is quite a bit of reading on this site but it's worth reading for a few hours.
Though I have watched it, and agree with many of the points he brings up. Its a hypocritical piece of crap that uses even worse propaganda techniques than he accuses the elites and mainstream media of. Sorry.
Though I have watched it, and agree with many of the points he brings up. Its a hypocritical piece of crap that uses even worse propaganda techniques than he accuses the elites and mainstream media of. Sorry.
Look, zeitgeist is filled with many factual inaccuracies, misquotes, and outright lies. I understand why you'd like to believe that there's a secret cabal of international bankers and corporate heads who secretly control things, you feel somewhat helpless in a sea of the 24 hour news cycle, backwards 2000 year old religions, corporate greed, and political corruption. But, you are just as stupid as someone who believes the earth was created in 7 days, you're looking for a simple answer that appeals to your emotions, not your rational thought. Once you get a degree in political science and economics, THEN tell me that the federal reserve is robbing Americans of money and conspiring to eventually form a one world government.
There are several problems with a conspiratorial view that don't fit with what we know about power structures. First, it assumes that a small handful of wealthy and highly educated people somehow develop an extreme psychological desire for power that leads them to do things that don't fit with the roles they seem to have. For example, that rich capitalists are no longer out to make a profit, but to create a one-world government. Or that elected officials are trying to get the constitution suspended so they can assume dictatorial powers. These kinds of claims go back many decades now, and it is always said that it is really going to happen this time, but it never does. Since these claims have proved wrong dozens of times by now, it makes more sense to assume that leaders act for their usual reasons, such as profit-seeking motives and institutionalized roles as elected officials. Of course they want to make as much money as they can, and be elected by huge margins every time, and that can lead them to do many unsavory things, but nothing in the ballpark of creating a one-world government or suspending the constitution.
Look, zeitgeist is filled with many factual inaccuracies, misquotes, and outright lies. I understand why you'd like to believe that there's a secret cabal of international bankers and corporate heads who secretly control things, you feel somewhat helpless in a sea of the 24 hour news cycle, backwards 2000 year old religions, corporate greed, and political corruption. But, you are just as stupid as someone who believes the earth was created in 7 days, you're looking for a simple answer that appeals to your emotions, not your rational thought. Once you get a degree in political science and economics, THEN tell me that the federal reserve is robbing Americans of money and conspiring to eventually form a one world government.
There are several problems with a conspiratorial view that don't fit with what we know about power structures. First, it assumes that a small handful of wealthy and highly educated people somehow develop an extreme psychological desire for power that leads them to do things that don't fit with the roles they seem to have. For example, that rich capitalists are no longer out to make a profit, but to create a one-world government. Or that elected officials are trying to get the constitution suspended so they can assume dictatorial powers. These kinds of claims go back many decades now, and it is always said that it is really going to happen this time, but it never does. Since these claims have proved wrong dozens of times by now, it makes more sense to assume that leaders act for their usual reasons, such as profit-seeking motives and institutionalized roles as elected officials. Of course they want to make as much money as they can, and be elected by huge margins every time, and that can lead them to do many unsavory things, but nothing in the ballpark of creating a one-world government or suspending the constitution.
Well, im not gonna argue about facts. But i do believe that some of the things in ZeitGeist are real.
Do you have a degree in political science and economics?
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.
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The reason why politicians do what they do is that voters like being bribed with their own money, because most voters today are rather uneducated about money matters and how increased deficits lead to higher debts, which lead to slower economic recoveries, which can lead to economic collapses.
If people understood the connection between deficits and economic depressions, they'd be pissed.
Two things
A government with anonymous personel would maybe fix that... if you only knew their agenda but never saw their faces.
Economics should be mandatory but it never will because sports is more important than life skills.
Sad world huh? Stand back and observe it as it improves! /sarcasm
Preparing for the Worst
"Is the crisis over?" is a question I am often asked. "Is the economy coming back?"
My reply is, "I don't think so. I would prepare for the worst."
Like most people, I wish for a better future for all of us. Life is better when people are working, happy, and spending money.
The stock market has been going up since March 9, 2009. Talk of "green shoots" fill the air. Yet, in spite of the more positive news, I continue to recommend that people prepare for the worst. The following are some of my reasons: ...
http://au.pfinance.yahoo.com/b/richricher/80/preparing-for-the-worst/
I'm not sure that it's wise to wholly accept this article at face value. Like much of his other writings, it is highly anecdotal and offers little in the form of proof or proper justification. Some of what he says does make sense and can be reasonably deduced through common sense, but other aspects are pretty far off the wall.
I may be completely missing something, but to me it is plain inane to say: when the US treasury is laughably far in debt. Profited excessively? Maybe it is a mistake in article structure but as it stands that statement is just messed up.
I'm also having a hard time discerning who his target audience is: just who is he telling to prepare for the worst, and what does he hope to accomplish by it? If he is trying to tell the average investor to simply be cautious with their money, it is commendable advice but likely falls on deaf ears. What kind of person who has money available for investment actually needs to be told that? If he is telling people to not invest, and to be ready for a market collapse then it is possible that he has forgotten a key concept of our market: it needs steady investors to stay afloat. If people start pulling cash out en-masse, we'll see a bear for sure. Without it, it is only a possibility. My personal thought is that he really has no target audience; and that like much of his other work, it is a whole lot of fluff with not a lot of point or useability.
The US treasury is not in debt, we the tax payers are, all of this came at our expense. I'm not sure how the treasury profited but I am sure how the FED did. It's an entity that is tax exempt, has never been audited, is privately held by some of the largest banks in the world such as JP Morgan Chase (it's largest holder). It makes money by the interest it charges for loaning money the banks.
That's right we tax payers pay interest on our very money, every dollar printed, sounds exciting doesn't it? To know our money has zero intrinsic value. I could type pages on the points in your post, but honestly I would be repeating all my previous posts, what he is saying really does make a lot of sense. I'll end with a question. What have they fixed that is going to ensure we don't see another crisis?
I would say that they've alienated the public enough that the frenzy alone will make it hard for them to make mistakes in the future.
http://www.diablofans.com/forums/showpost.php?p=428610&postcount=392
This is the largest financial bubble in US history, we are sitting square in uncharted waters now. Blurred in these charts is the difference between price and value. The powers that be, have done their best to keep the people from feeling the pain of recession now at least three times, after the dot com's, 9/11, and again after this last epic crash. Crash's are called corrections because a crash is a cure to balance an imbalanced market, it is the medicine for the systemic a bubble. We should have sounding the alarm when everyone was singing "Blue skies are here again" on the trip up" Our government in their quest for reelection, always votes with what will keep their supporters happy and pain free. So they borrow and tell them I have saved the day, please vote me in again. No party, no politician has helped change our course in 40 years.
Deficit pending is like a drug, we feel good as long as we can get another hit of the borrowed cash. When we finally start to feel the pain of not being able to pay off our obligations because we can barely make the minimum interest payments alone, then no hit of cash will make the pain stop. We then will have to suffer the hard withdrawls of no more cash. This is going to happen sooner then later for several reasons, unemployment is at a high, and so tax dollars coming in are at a low, the FDIC officially went broke on the 25th of August, yesterday. So it will have to borrow money now to insure depositor losses of failed banks. We do not have product producing foundation, we are sitting on a service based industry so to recover will require we start making stuff again here in the US.
All those green-shoots we saw and companies posting profits we're the result of company layoff's, they saved money by cutting jobs and productivity so the books could look good. That won't last. The banks are showing profits as a result of borrowed money they were injected with, that won't last either. What will last is to start investing in or productive capacity, we need to start making things again. We need to stop borrowing money we can't pay back. We will default on this massive debt we have, China knows this and that is why they cut up the credit card last January.
Hmm I guess I have to concede ignorance on this. I was under the impression that the US treasury receives all taxes, and authorizes / disperses all funds to government programs, and that it calculated the national debt. Skimming through wikipedia articles for Us Treasury Department and the FED I'm led to belive that the actual debt is owed by one or shared by both these instiutions. I'm just having a hard time picturing that the debt is assessed to the people, and not to a governmental agency. Can you elaborate on this a bit, or point me to somewhere that explains it? No sarcasim or anything here, just genuine curiosity; most of my knowledge is in math and CS, I don't know a whole lot about high level government & economics so some nuiances are easily lost on me
you mean the american people? no.
the fatal mistake was made when banks started giving loans to those who were ill prepared to pay them back. and when they didn't pay up. everyone else who uses that bank pays a share of their debt... it would be dumb to think that the bank itself would owe any debt. especially since we basically give them rights over our money, aka your life savings, your child's education. almost seems like its not worth the interest they pay us.
sorry for the rant there.
America is still the easiest place to become wealthy so I'm not down on this country, if you learn the trends and learn to ride those waves then opportunity here id wonderful. So it's not all doom and gloom, it is angering though on the level that the average person is going to get screwed in this because they didn't devote their time to these things, they chose to be a teacher, an accountant, etc. and for that they are penalized and that makes me mad. I would rather be just a system engineer and not think about stuff like this, but circumstances won't allow that if I want to make sure I retire with some dignity.
Here is a short list of a few I've come across over the years, a mostly video bread crumb trail for any who want it, this will lead you to more. I'll say up front, I do not necessarily agree with every point in all of these, some truths though are obvious and easy to pick out. Overall though the message is the same. How can I say much of what I do with confidence? I had a few wake calls like at this convention put on by Robert Kiyosaki I attended in Los Angles in 2006, this video (which I didn't record) was made 2 years before the stock market crash. Where are we at in this crash? These charts are a good indicator This is what the FED doesn't want you know, BTW many of the views here come from the Austrian school of economics, I tend to agree with it. The one that people like Paul Krugman are embracing is from the Keynesian economics. I think the Keynesian's are in for a rude awakening. Chris Martsenson's crash course on economics, probably the best 3 hours you can spend for the next 20 years of your life. It covers the 3 E's. Economy, Energy, and Environment The Federal Reserve - Zeitgeist, The Movie (2 Hrs) How long ago did we know a crash was coming? We had a clue since the early 1930's thanks to Nikolai Kondratieff The history of the US dollar, how we got robbed, how this economic mess was destined to happen, and why change is unlikely with our current system -- Dr Lawrence Parks. A lot of good video's on gold and silver, yes I do believe it's going to be a good store of wealth, the hero's of Diablo may have been on to something collecting all that gold. A Resource Based Economy - Zeitgeist Addendum (2 Hrs) Possible Solution
Jacque Frescos' Venus Project
http://www.thevenusproject.com/
That's a much more detailed explanation of the solution, as well as methods of spreading awareness. There is quite a bit of reading on this site but it's worth reading for a few hours.
http://mises.org/images/SeanMaloneRiseFallDollarLarge.jpg
Though I have watched it, and agree with many of the points he brings up. Its a hypocritical piece of crap that uses even worse propaganda techniques than he accuses the elites and mainstream media of. Sorry.
That might be true... But ZeitGeist is FTW
FUCKK THE SYSTEM!!!
Look, zeitgeist is filled with many factual inaccuracies, misquotes, and outright lies. I understand why you'd like to believe that there's a secret cabal of international bankers and corporate heads who secretly control things, you feel somewhat helpless in a sea of the 24 hour news cycle, backwards 2000 year old religions, corporate greed, and political corruption. But, you are just as stupid as someone who believes the earth was created in 7 days, you're looking for a simple answer that appeals to your emotions, not your rational thought. Once you get a degree in political science and economics, THEN tell me that the federal reserve is robbing Americans of money and conspiring to eventually form a one world government.
There are several problems with a conspiratorial view that don't fit with what we know about power structures. First, it assumes that a small handful of wealthy and highly educated people somehow develop an extreme psychological desire for power that leads them to do things that don't fit with the roles they seem to have. For example, that rich capitalists are no longer out to make a profit, but to create a one-world government. Or that elected officials are trying to get the constitution suspended so they can assume dictatorial powers. These kinds of claims go back many decades now, and it is always said that it is really going to happen this time, but it never does. Since these claims have proved wrong dozens of times by now, it makes more sense to assume that leaders act for their usual reasons, such as profit-seeking motives and institutionalized roles as elected officials. Of course they want to make as much money as they can, and be elected by huge margins every time, and that can lead them to do many unsavory things, but nothing in the ballpark of creating a one-world government or suspending the constitution.
Well, im not gonna argue about facts. But i do believe that some of the things in ZeitGeist are real.
Do you have a degree in political science and economics?