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« Bernanke: 'The Only Reason That The Unemployment Rate Dropped Last Month Was That Workers Are Giving Up' | Main | Full Text: Fed Statement On QE3 »
Thursday
Sep132012

ABSOLUTE GENIUS! MAKE THIS GO VIRAL - Quantitative Easing Explained (Video)

The truth about quantitative easing.  I just watched this again and laughed my a$$ off.  Now with a ridiculous 5.2 million views on Youtube.

A QE cartoon with 5M views.  Nice.

"The Ben Bernank is working with the Goldman Sachs to engage in the printing money."

"The printing money is the last refuge of failed economic empires and banana republics, and the Fed doesn't want to admit this is their only idea."

 

 

 

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Reader Comments (51)

Two Georgia banks closed to push total to 146

http://www.reuters.com/article/idUSTRE6AC07820101113
Nov 13, 2010 at 10:12 AM | Registered CommenterDailyBail
QE2 may accelerate wane of U.S. dollar as world's reserve currency

http://news.xinhuanet.com/english2010/indepth/2010-11/12/c_13604080.htm
Nov 13, 2010 at 10:12 AM | Registered CommenterDailyBail
Nov 13, 2010 at 10:13 AM | Registered CommenterDailyBail
this isn't funny. It just makes you furious
Nov 13, 2010 at 12:46 PM | Unregistered Commenter4rc
"the Ben Ber-nank" -- I think I choked.
Nov 13, 2010 at 1:03 PM | Registered CommenterDr. Pitchfork
this isn't funny. It just makes you furious

---

4rc...i know what you're saying...the truth hurts, and so i laugh as a defense mechanism...there's nothing new in here for me BUT the humor...this is my life man...i cover this shit most waking hours, 7 days per week...FOR 23 MONTHS...it's not like many facts surprise me...and since i've been covering the coming of qe2 since June i think, the only thing left for me are laughs...otherwise it's the psych ward, 7th floor...
Nov 13, 2010 at 1:13 PM | Registered CommenterDailyBail
"the Ben Ber-nank" -- I think I choked.

---

me too...it was fucking genius...liz loved it too...she wanted to hear it a second time...that means something right there...she's never asked to see a video twice...we were saying Ben Ber-nank for the rest of the night...
Nov 13, 2010 at 1:21 PM | Registered CommenterDailyBail
This video proves what I've been saying for the last 355 years or so, that the oligarchs control the American federal government.

Goldman Sachs (and to be fair, other oligopolies) run the "Federal" Reserve which is not really a Federal agency at all, but is simply a minimally regulated private company.

Why the "Fed" gets away with being called the Federal Reserve instead of, say, The Bank of Goldman Sachs is beyond me.

This and other subterfuges is one of the reasons so many people hate the federal government and think the federal government has too much power over their lives. All the undeclared (by Congress,) expensive wars, invasions, assassinations, coup d'etats, etc. are another.

We the people, ARE the federal government and, through our representatives, should be allowed to control what our "national" bank does.

But we don't. We just sit back on our hands like sheeple and bleat our displeasure with Bernank.
Nov 13, 2010 at 5:21 PM | Unregistered CommenterJames Street
"OMG" DB, thats just to cute, "Almost" when you know the truth behing the clip. All I heared this week is Monatizing, Montize, and the "Ben-Ber-Nank" said a bit back we will Neaver Monatize the Money. Now all of a sudden we hear that word every time the news comes on.

Pluss, how buying food in the 2nd half of 2011 will be harder than making the house payment......? Could it be the "Heared Animals" are at the clif, and its time to jump.................
Nov 13, 2010 at 6:24 PM | Unregistered CommenterTexas Dar
But we don't. We just sit back on our hands like sheeple and bleat our displeasure with Bernank.

@ James Street, right, but now that most of us have been wakened by BHO & Ben-Ber-Nank my quettion always is, What Cant We Realy Do About...?

Everyone on DB's site is Pissing-Mad about it, but what can we do...? Not paying out taxs this spring would be a start. But we need 85% of the people, and we'ed be lucky to get 85 people........ I think were Screw'ed...?
Nov 13, 2010 at 6:30 PM | Unregistered CommenterTexas Dar
You're right DAR. I like to be provocative because I like to have dialogs like this but I'm faking it:

Oligarchies and other powerful minorities have been in control for a very long time. Sometimes they are called royalty, sometimes the communist party, sometimes fascists and sometimes the Prussian bureaucracy. Whatever you call them, they are always there and they are always kept in power by a mighty contingent of bleating sheep who fight like crazy for "grazing room" and the crumbs that fall from the tables of their rulers.

I have no solution either but I think you are right about the 85% needed to make the government stand at attention and do the people's bidding.

All I can report is certain good news and certain bad news which comes directly from human history. There are revolutions and civil wars when things get bad enough. Unfortunately that's the good news.

The bad news is that there is always a Sherman who marches to the sea and burns everything in his path, and there is always another minority waiting in the wings to take power from the old one. The sheeple are so grateful that the old gang of rulers is gone that they do whatever the new ruling class wants until they wake up and realize its just the old same people wearing new hats.

Anyway, keep enjoying life. It's the best revenge. Five drinks sound good if your body can take it but seven seems a bit over the top.
Nov 13, 2010 at 7:22 PM | Unregistered CommenterJames Street
How old are you fuckers? JS and TD. I'm 44.
Nov 13, 2010 at 8:08 PM | Unregistered CommenterCheyenne
Five drinks sound good if your body can take it but seven seems a bit over the top.
Yea, as I prove to my self "Over & Over"......

.I get such a Kick the next day when im on my 6-7th and my Brain-Cells ( all 13 of them ) get to gettin and my fingers have no Clue as to what they are typing.

I love it when Dar cant figure out what I was trying to say. Yes, I can and Do laugh at my self. Often, and not ashamed of it, im all I got.......! Im the goofey'est one on DB 's site. If 5 is good, 6th is better when yr fighting the Lyme, and Severe CFS

Im like "Ben-Ber-Nank", when im on a roll, I cant find the brakes. But I do know Right & Wrong, and Pain. We are in for a world of hurt next year.......
Nov 13, 2010 at 8:27 PM | Unregistered CommenterTexas Dar
How old are you fuckers? JS and TD. I'm 44.

Im OLD, Realy Old. Sure im the oldest one on here. 5-21-51, thats so far back, the goverment was just getting started on its Great Plan to rape the American People. When a Buck was worth 86 cents yeat.....

Been thAre-done that. Lost it all just when I could see sucess in the Music Buissnes. Got some of the best shit to tell around the camp fire. Reamber my teacher crying, trying to tell us 4th graders that JFK was shot, and Dead.

Im so old, when I look in the mirror, I see my father, and I dont like that part. When I was a kid, half the change you got back, was "Real Sliver"................
Nov 13, 2010 at 8:37 PM | Unregistered CommenterTexas Dar
I've had a few drinks and a few pulls. I'll wait up.

But this goddamn video, which I saw Friday, really pissed me the fuck off, which after 10/08 is saying a lot. I read zerohedge all the time, and am reasonably literate, but I had no GODDAMN IDEA that POMO is such a transparent gift to GS. On the one hand, I'm grateful to be so educated. On the other hand, I wonder why I'm so stupid that I can't assimilate basic information from zerohedge.

I simply cannot believe I'm alone in this foul sentiment.
Nov 13, 2010 at 8:40 PM | Unregistered CommenterCheyenne
On the other hand, I should point out that during a fair percentage of my public tirades on the Near North Side of Chicago, during which I venomously spew ZH info, I've not once been called aside for my manifest bullshit. On the contrary, I've only been pulled aside to see who I worked for, which is hoot you'll want replicated.
Nov 13, 2010 at 8:50 PM | Unregistered CommenterCheyenne
cheyenne...as much as i usually enjoy their stories, i never read zero hedge unless i'm sent a link...i just don't have time to actually read other sites...so i didn't see their article on this...

and i'm 44 as well...
Nov 13, 2010 at 8:52 PM | Registered CommenterDailyBail
DB--

Funny. I thought you were 42 for some reason. Don't matter.

ZH is a dynamite site, excluding TD's appearance on MK. It has VASTLY improved since its inception.

My critique of ZH is merely that it reports too much information, and to an audience that's not so conversant, etc. Thus it's too easy to miss the 180,000 lb elephants which ZH covers so well--in one article out of 20.

I'm licensed to practice before the U.S. Supreme Court. That means I'm not a dumbass. But there's only so much I can absorb in a day. That's why I plan to keep the film snippets of Fear & LIra to 2 1/2 minutes or less.

This is going to happen, Wall Street. I'm on my way.
Nov 13, 2010 at 9:09 PM | Unregistered CommenterCheyenne
"This video proves what I've been saying for the last 355 years or so, that the oligarchs control the American federal government."

James S. seems to have it going on, I wish I knew his secret. Any tips on long life? Or perhaps rejuvenation of old injuries, I could really use that.

If I would have known I would live past 35, I would have taken better care of myself... It is probably to late for long life.
Nov 14, 2010 at 12:38 AM | Unregistered CommenterS. Gompers
"If I would have known I would live past 35, I would have taken better care of myself... It is probably to late for long life."

Yo Gompers, Me too!

I was into bikes and was sure 30 would be the last birthday I would see if I made it that far. Ended up with plenty of old injuries ( they mellow with age but they don't rejuvenate), some health issues ( these aren't mellowing at all) and the realization I may live a lot longer than I thought.

Damn! I should have taken better care of myself!
Nov 14, 2010 at 1:16 PM | Unregistered CommenterSagebrush
I Found It Guys, I found out whats wrong with our goverment. I Got Us-a-Plan Too how to fix it. Dar saves America..................It wasent Bush's fault after all...? He was to busy keeping his Daddys war going for "GS"...!



A History Lesson from less than two years ago.





Some of you will delete this without reading it and in my opinion it's because you are too biased to open your mind and recall some recent history about our government. The day the Democrats took over was not January 22nd 2009. It was actually January 3rd 2007 the day the Democrats took over the House of Representatives and the Senate, the start of the 110th Congress. The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.

For those who are listening to the liberals propagating the fallacy that everything is "Bush's Fault", think about this:

January 3rd, 2007 was the day the Democrats took over the Senate and the Congress:

At the time:

The DOW Jones closed at 12,621.77

The GDP for the previous quarter was 3.5%

The Unemployment rate was 4.6%

George Bush's Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB CREATION!

Remember the day...

January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.

Pay attention. The economic meltdown that happened 15 months later was in what part of the economy............?

BANKING AND FINANCIAL SERVICES!!!

THANK YOU DEMOCRATS for taking us from 13,000 DOW, 3.5 GDP and 4.6% Unemployment... to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOS! (By the way, Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001, because it was financially risky for the US economy).

And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac????

OBAMA

And who fought against reform of Fannie and Freddie???

OBAMA and the Democratic Congress

So when someone tries to blame Bush...

Set the record straight on Bush!


Now let's look at it a different way....

The Washington Post babbled again today about Obama inheriting a huge deficit from Bush. Amazingly enough,...... a lot of people swallow this nonsense. So once more, a short civics lesson.

Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democrat Party. They controlled the budget process for FY 2008 and FY 2009, as well as FY 2010 and FY 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases. That's where Bush should have openly blasted Congress in a state of the union address.

For FY 2009 though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets.

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009.


If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets. If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 2009

REMEMBER JANUARY 3rd, 2007.... THE DAY THE DEMOCRATS TOOK OVER! Bush may have been in the car but the Democrats were in charge of the gas pedal and steering wheel of that "car" they were driving.

There is no way this will be widely publicized, unless each of us sends it on! And this just goes to show you how complacent Americans have become, in that most of us assumed Washington was working for the public.

Put "Ron Paul"........"Paul Ryon" in the Whit Haus, they'll know what to do next...! thAre, Im Done. Time for a "Beer-Summit" ?
Nov 14, 2010 at 2:33 PM | Unregistered CommenterTexas Dar
Crap, now its Vodcka-30. With Ron Paul and Paul Ryan in the White House, and a Rep. goverment, just maby it wont get any "Worese" ?

But then you cant stop a Run-a-way train with the coal loader on "Auto Feed" !
Nov 14, 2010 at 5:42 PM | Unregistered CommenterTexas Dar
"Ben-Ber-Nank"......................that you feddin the coal ?
Nov 14, 2010 at 11:26 PM | Unregistered CommenterTexas Dar
I still play with bikes Sagebrush, couple of Harley's in the garage...
Nov 15, 2010 at 9:53 AM | Unregistered CommenterS. Gompers
Good for you Gompers, I traded my last one for an off shore cuddy cabin with a blown up engine. Bad idea, never got the damn thing in the water.
That last one was my 27th, mainly British iron. Triumph's, BSA's and a couple of Norton's. The last few were hot rod rice rockets. Did have a couple of Harley's back in the late 60's, old military Knucklehead's we chopped the hell out of. They were a lot of fun but I was more into racing iron.
Nov 15, 2010 at 9:39 PM | Unregistered CommenterSagebrush
My first Harley was a 1942 "Flat Head" 45. Tank shifter, food clutch. Had the hog winshield, saddle bags, am-fm radio. But after a year 1/2 I found a 1965 FLH pan head. Pics of it on MySpace. All the crome panels, trim, and 86 extra lights.West Coast tour pack above the back fender.

Kick start, and Elc. start. "NO I DIDENT use the botton when people were standing around....! Came like that in 1965-1966-1967, then they only had Elc. start, unless you converted it over, many did.

I think I would trade my bride for that ride today.......? When I would come out from the bar, it was my Harley everyone was standin and lookin at. Truckers told me it looks like a meatore ( I Know its Spellthed Wrong Z ) comming down the hiway.

Ahhhhhhh, motorcycles, a mans best friend. & thAre always in the Mood for a hard ride.
Nov 16, 2010 at 2:36 PM | Unregistered CommenterTexas Dar
The video suffers from flaws and reveals expressed false beliefs.

Deflation does not mean "the prices of things we buy goes down." The video maker's expressed belief is 100% false.

Deflation is the process by which central bankers PURPOSEFULLY undertake to reduce revolving and non-revolving credit. Credit collapse is when it happens by non-central bank forces.

Deflation is a process INTENDED to contract the growth of credit outstanding. Whenever the FOMC raises interest rates or RRR requirements, deflation is underway. Persons confuse deflation with exogenous credit contraction, including credit collapse.

Greenspan and Bernanke deflated between 2005 and 2006 to cool the economy. They overdid it.

Central bankers want inflation to work because this means their member bankers are selling more open contracts of credit. That's not happening. Right now, we're getting exo credit contraction owing to a curtailment in inter-commerce credit. ALWAYS, bank credit follows inter-commerce credit for cap goods.

Contracts of credit, of course, are the products that Commercial Bankers sell. The Federal Reserve exists to support the activities of its member Commercial Banks.

The Fed Res has been granted a licensed monopoly by the U.S. Congress for the manufacture and distribution of money and credit.

Yet, NEVER does the Federal Reserve print money. ONLY the U.S. Treasury prints money. Technically, the UST MINTS money (Federal Reserve bank notes and U.S. Treasury token coins).

QE is 100% a PRICE INFLATION strategy. Under QE, the Fed Res ISSUES BANK CREDITS to U.S. Government agencies. and any other party from which the Fed Res Bankers buy assets. Dummies think it means a rise in the CPI. It does not. It means a rise in prices owing to money accretion at such a rate that commercial entities get forced to rent cash (borrow money) to buy capital goods and consumers get forced to borrow to buy goods.

Money is mere medium of exchange. In the end, wealth must trade for wealth. QE is about injecting bank credits into the accounts of government agencies, which, ultimately leads to an increase in demand for cash withdrawals from ATMs and bank tellers -- money accretion -- which in turn, places a call on the U.S. Treasury to mint more Federal Reserve notes and coins .

Because the rate of increase in money accretion races faster than output growth, prices rise. This corresponding rise in prices makes all Americans poorer as their cash and near holdings now buy less as the unit buying of cash power drops.

Federal Reserve central bankers expect this to lead Americans to borrow money from Commercial bankers, who are the members of the central banking system and the reason for the Central Bank.

This gambit is known as PRICE INFLATION, as the true meaning of the word inflation is action undertaken by central bankers to increase sales of credit.

The gambit of Price Inflation is a fiscal policy measure initiated by the Federal Reserve. Contrast it with a monetary policy action, e.g, reduction in the inter-bank lending rate (aka Fed Funds Rate).

Because non-revolving credit had been collapsing between 2007 through recently, the prices of things bought with such credit have been falling.

Yet, owing to MONEY ACCRETION -- new notes and coins joining existing ones -- the prices of things paid for with cash, typically, have been rising.

[1] Americans are experiencing deflationary effects in their monetary system. Year-over-year, total consumer credit outstanding has deflated – 3.2%, of which, revolving credit has deflated -8.8% while non-revolving credit has increased a scant 0.16%.

[2] From the time of peak credit, December 2008, total consumer credit outstanding has deflated -6.6%.

[3] From the peak of the economy expansion, roughly, August-September 2007 until now (August-September 2010), total consumer credit outstanding has inflated by +2.6%.

[4] Year-over-year money accretion has increased +4.4%.

[5] From the peak of the economy expansion, roughly, August-September 2007 until now (August-September 2010), money accretion is up a whopping +18.24%

[6] Prices have risen for goods bought primarily with cash.

[7] currency has gone up $296.10 billion or 13.07% since the peak of the economy expansion and $299.6 billion or 13.25% since the start of 2007.

Interestingly, since the 2007 peak of economy expansion, GDP has risen only 3.1% while Personal Income has risen only 4.54% compared to the 13.07% increase in currency.
Nov 17, 2010 at 5:33 AM | Unregistered CommenterSmack MacDougal
Uh, that's a long post there, Smack. Cocktail hour with Lira flew past like a B-1 distended by booze.

Question: do you agree prices of things you need are headed up, opposite of things you want? Former is fees, food, medicine, energy, and real money. Latter is plasma TV's, Winnebago's, homes, designer jeans, and fake paper?

Yes/no question.
Nov 17, 2010 at 11:26 PM | Unregistered CommenterCheyenne
Cheyenne, Yes, anything longer than a fart noise demands too much brain power for the TV / Video Game Generation, so such a post might seem lengthy. Yet, in a mere 712 words, I explained several complex things -- the money, credit, banking, central banking, and the economy, including quantitative easing and price inflation.

As to your question, the post that was too lengthy for you already contains your answer. To quote myself:

" Because non-revolving credit had been collapsing between 2007 through recently, the prices of things bought with such credit have been falling.

Yet, owing to MONEY ACCRETION -- new notes and coins joining existing ones -- the prices of things paid for with cash, typically, have been rising."

But your idea of need vs want is specious. De-programming yourself over that false belief would serve your better interests. Medicine is something people want, not something people need. While everyone is right to want to live forever, no one gets owed that right from someone else.

As to the true cause of price increases or decreases, the one and ONLY cause is an increase or decrease in the winning bids of demand in the face of supply, that is, the Law of Prices.

For any good, the amount of the winning bids can increase if the economic quantities of purchasing (money, credit) increase.

The payment method for some goods hinges on non-revolving credit, e.g., for houses, college tuition. For other goods, the payment method hinges on revolving credit, e.g., for casual wear clothing, meals eaten out at sit down restaurants, tickets to attend sporting events, airline tickets. Still, the payment method for some goods hinges on money (cash) or credit that clears so amazingly fast that in all essence seems to function like cash. Such goods are gasoline, groceries, cigarettes, booze, beer, wine, condoms, movie tickets.

As non-revolving credit falls, prices for non-rev credit based goods fall until producers can adjust supply. Likewise, as cash rises, prices for cash-based goods rise until new entrants can offer additional supply to markets.

Those that sell a non-revolving credit based product like higher education seems to have solved the supply problem simply by reducing the number of seats offered as a means to control supply and hence keep prices up.
Nov 18, 2010 at 12:09 AM | Unregistered CommenterSmack MacDougal
I have many questions about your post, but let's start with the 1st after getting to the 0th?

(0) Are you a fucking economist? Who signs your paycheck?

(1) "Those that sell a non-revolving credit based product like higher education seems to have solved the supply problem simply by reducing the number of seats offered as a means to control supply and hence keep prices up."

How is it that the # of higher education seats is down but yet student loan debt just took the magnitude belt from credit card debt? Is that not prima facie and possibly conclusive evidence that education is vastly overpriced? It's so patently apparent only a moron couldn't see it. Are the super-rich this inbred and retarded?

Please advise.
Nov 18, 2010 at 12:26 AM | Unregistered CommenterCheyenne
Smack:

Cheyenne is right: he NEEDS a drink, he WANTS a friend to buy it for him but if he can't find anyone to buy it and can't find the cash, credit or good will to cause a full glass of the stuff to appear in front of him, he will find a way to make it in his bathtub at a cost of about 1/100 of what he would have to pay for it on the open market.

It makes sense to me.

It's the same with money. If things get bad enough we libertarians can print our own on our laser printers. Who needs the "Federal" Reserve?
Nov 18, 2010 at 12:36 AM | Unregistered CommenterJames Street
"Cheyenne is right: he NEEDS a drink, he WANTS a friend to buy it for him but if he can't find anyone to buy it and can't find the cash, credit or good will to cause a full glass of the stuff to appear in front of him..."

That's not even remotely realistic, as far as me and drinks are concerned. I took notes in rehab and refer to them often.
Nov 18, 2010 at 12:44 AM | Unregistered CommenterCheyenne
You ask is higher ed overpriced. The reply is relative to what? If you're buying a four-year degree in English from NYU perhaps your lifetime earnings recoup the $155,060 tuition outlay, but relative to alternative investment, the payout is horrible.

Say you earn an average $40,000 a year @ 40 years with your NYU English degree. Your Rate of Return would be 673.89%

However, say instead you took that $155,060 and opened a pizzeria that generated $200,000 a year in revenues. Here, your RoR would be 5059.29%. Clearly, had you opted for the NYU English degree, you've overpaid.

Yet, as long as every university and college can maximize enrollment at their tuition prices and as their customers are willing to pay, the prices are as they are.
Nov 18, 2010 at 12:50 AM | Unregistered CommenterSmack MacDougal
"However, say instead you took that $155,060 and opened a pizzeria that generated $200,000 a year in revenues. Here, your RoR would be 5059.29%. Clearly, had you opted for the NYU English degree, you've overpaid.

Yet, as long as every university and college can maximize enrollment at their tuition prices and as their customers are willing to pay, the prices are as they are."

Terrific. More fraud-fantasy.

"You ask is higher ed overpriced. The reply is relative to what?"

Relative to a box of Fruit Loops.
Nov 18, 2010 at 12:54 AM | Unregistered CommenterCheyenne
To paraphrase Hunter S. Thompson's "As your attorney ...", as your investment advisor, I suggest you skip college, open the pizzeria and go see many concerts instead.

Actually, unless one can gain entrance to Harvard, Yale, Stamford, MIT, Cal Tech and the like, the smart move is to earn a degree only in the fields of engineering or accounting at the best in-state, state school one can gain admission. Only the licensed professions -- doctor, lawyer, psychiatrist, psychologist, psychologist -- pay off and are worthy of advanced degrees and great expenses.
Nov 18, 2010 at 1:04 AM | Unregistered CommenterSmack MacDougal
So fortuitous, Smack, as I had no risk of entrance to the elite, being back then far too bumptious and unfocused. I took in fact your latter route. It was bad but affordable, especially in retrospect.

I consider what's going on now war on the middle class, which is me. Do you think that is incorrect?
Nov 18, 2010 at 1:17 AM | Unregistered CommenterCheyenne
My girlfriend is knee-walking pissed off at me right now, which unfortunately is when I need to communicate with her the most. Fuck. I gotta go for a bit.
Nov 18, 2010 at 1:45 AM | Unregistered CommenterCheyenne
My girlfriend is knee-walking pissed off at me right now, which sadly is when I need her for the first time. . Fuck, I gotta go for a bit...
Nov 18, 2010 at 1:50 AM | Unregistered CommenterCheyenne
I apologize for that 2X horseshit.
Nov 18, 2010 at 1:52 AM | Unregistered CommenterCheyenne
I wouldn't quite describe it as a War on the Middle Class. We're witnessing Collectivists in Action -- those who strive for the reins of power to manipulate a machine (government) for the purpose of great, unearned profits.

This kind of behavior has been ongoing since the ancient Greeks.

Americans were oblivious to such post-World War II through the 1970s because during the days of post-war unionism, they faced little competition. Europe and Japan were war trashed. Shipping was expensive, lacking both uniform containers and computerized inventory management.
Nov 18, 2010 at 1:58 AM | Unregistered CommenterSmack MacDougal
The trouble with economic man is that he pushes everyone out of the way with his single minded pursuit of the dollar.

Most talented people want to do other things than just make money. They want to play baseball, play a musical instrument, find a cure for cancer, build a bridge or do a thousand other interesting things that are fun and useful but they are pushed out of the way by people who are obsessed with accumulating money, houses, boats and basically taking all the marbles for themselves.

When they organize to protect themselves from the biggest, most aggressive and greedy, they don't usually do it to take power from them so that they be just like them, but to protect themselves and other people from their excesses.

Sometimes they open a history book and learn that they have to kill the bastards if they don't want to be killed themselves, but that is another story.
Nov 18, 2010 at 3:22 PM | Unregistered CommenterJames Street
Indeed James.
Nov 18, 2010 at 3:58 PM | Unregistered CommenterSmack MacDougal
We will be doing our home work in that chapter of the histroy book very soon...?
Nov 18, 2010 at 6:05 PM | Unregistered CommenterTexas Dar
Just remember the Alamo Dar.

And if someone steals your money but has 1,000 time or more money than you do, shoot him in the back and take your money back.

If he has about the same amount of money that you do, or less, consider the source. Maybe he needs it more than you do.

It's simple.

In deed.
Nov 18, 2010 at 9:37 PM | Unregistered CommenterJames Street
Wow, the comments have sure improved around here as well as many new commenter’s on other posts since Gobie quit spamming up the joint. Smack is correct on his synopsis on higher education, the two richest people I know (both multi millionaires), one has a tenth grade education, while the other has an eighth grade education. What separates them from most, is hard work and the willingness to risk of themselves (these are things that cannot be taught in the ivory palaces), both own their own businesses.

While the ivory palaces turn out hoards of pretty paper every year, there is a degree of business manipulation even there. I will use Information Technologies jobs as an example, years ago they were throwing buckets of money at those capable of meeting the requirements, Corporate profits were getting impacted by high IT costs, so our brilliant Congress increased the number of H1-B visas, and companies were able to hire cheap workers from India and other places, while businesses start pushing for the Universities to start pumping out more and more pretty paper till the job market was filled with pretty paper. The result, starting wages drop, supply and demand. Today, nursing has been the big call as baby boomers begin to reach the age of needing more service, prices have not began a dive yet, so the government instituted a foreign nurse program to help fight wages.

As to engineering, many of those are proudly getting their pretty paper only to find wages starting in the thirties. A good pizza delivery guy in the right neighborhood can easily beat that, yet the engineer has years of debt to pay, and no guarantees that he will rise to the top (which goes back to that work ethic and risk thing).

Most “talented” people only tell me what they won’t do verses what they will do. Yet they continue to vote for those who seek to destroy the American way of life and then wonder why they are “unfulfilled“…
Nov 21, 2010 at 12:39 AM | Unregistered CommenterS. Gompers
goldman sachs owns shares of the fed reserve.
Jan 23, 2011 at 11:13 AM | Unregistered Commentercold in michigan
And this should surprise you? Before the central bank, various banks issued their own banknotes. By creating a centralized corporate entity that issues banknotes, major banking players believe they can avoid certain kinds of competition if each bank had to issue its own banknotes.
Jan 23, 2011 at 4:29 PM | Unregistered CommenterSmack MacDougal
my prays every night are for the Ben Ber Nak to get his with the rest of the criminals in government and out "In the U ASS A
Feb 8, 2011 at 4:35 PM | Unregistered Commenterdan
Well, I wouldn't call it front-running where everyone hears the Fed's intentions.

But, it certainly is this:

http://www.youtube.com/watch?v=kXJjNRIZNZk&feature=related

as well as trillions in free reserves at the expense of the earning power of
the proceeds / savings of all who made good decisions and sold bubble assets
as well as of those who responsibly built retirement nest eggs, the latter even
as the smug stupid bankers want to privatize Social Security.

Amazing. Trillions w/o limit in reserves and covering losses for them. But blame Social Security and Medicare, and
let some in the Tea Party go nuts / be nuts when students are maybe extended $112 million
in student loans; oh, and smear Scott Olsen.

And, you know, if the U.S. were to let the culpabilities lie with the banks, then it may be possible
to avoid some of the derivatives issues.

http://krunchd.com/thehonestpath

http://evernewecon.weebly.com/
Nov 3, 2011 at 6:34 PM | Unregistered CommenterNotJiminy Crickett

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