Monday, October 24, 2011
Tuesday, October 18, 2011
The US had roughly 1 trillion in debt before Ronald Reagan. In 8 years through trickle down economics Reagan added 2 trillion to the pile. Yes he was a republican who cut taxes and spent money we didn't have. In 4 years HW Bush added 1.5 trillion to bring the debt up to 4.5 trillion. Read my lips, "no new taxes", but a ton of new debt. In 8 years the democrat Bill Clinton added 1.4 trillion. He said he didn't have sexual relations with Monica Lewinsky but he did bend over the American taxpayer. Now W. Bush added 6.1 trillion to the pile being the great conservative he wasn't to bring the grand total to 12 trillion. W. stands for WOW! Obama has added 2.4 trillion to the total. Now that's a bipartisan effort.
Thursday, October 13, 2011
I recently made a market call when the market was oversold and of course the market bounced and moved higher. The stock market is actually up over 125 points since my call. It's mainly up based on plans to bail out Greece. The problem is you have to bail out Italy, Portugal, Ireland, Spain, Belgium, and Holland. The rule on Wall Street is you have 3 months and if your call is not confirmed then you are wrong on the timing. We shall wait and see. The deflation in the stock market is gauranteed to come it's just a matter of when. You can't grow your GDP at 3% and your debt at 6%, the math simply doesn't work. I attached a link to Pimco's website and they are not drinking the Kool Aid and expect a down turn in equities.
Friday, October 7, 2011
We shall see. Goldman Sachs doesn't rule the world. Actually Goldman Sachs should have went out of business 3 years ago. More theft of pension funds via the link below. Banks don't earn money because it's easier to steal.
Since the financial crisis started back in September 2007 the world markets have been uneasy. As the saying goes when the United States economy sneezes the world catches a cold. Eventually it was reported that many countries in Europe were in serious trouble and they needed to take "austerity" measures. Greece took center stage and riots ensued because "austerity" means regular working people take pay cuts to pay for the bad banker loans. Government expenditures have to be reduced to pay interest on debt which of course in paid to the banks. If you stop and think about this for one second you say to yourself, does this need to happen? The answer is NO. Governments have the ability to issue currency through their treasury. Governments do not need to borrow from a central bank at interest which the people have to pay. As long as the governments spend what they take in in taxes you will never see any inflation. The inflation is the governments deficits. Inflation occurs when the government borrows from the central bank to cover the fiscal deficit. The point is the only solution is to borrow more money which we already can't pay back. Bottom line is you can't solve a debt crisis by issuing more debt.
The real plan comes because the bankers know the countries can't pay. Then, the bankers request privatizing the countries power, water, and transportation systems. This means selling the people's assets to banker's cronies a discount to pay for debts caused by the bankers in the first place. It's the Hegelian dialectic of problem, reaction, and solution. The banks caused the problem, the people have reacted, and the bankers have their solution. This really is a racket!
Will the EU bailout work? Like I stated earlier, is you can't solve a debt crisis by issuing more debt. I give this 2 more weeks and the markets will go much lower.
Wednesday, October 5, 2011
The numbers do not lie in this case. The fact of the matter is there is more unemployment and more debt in the system now. The stock market going up in the short term has benefited the people on Wall Street but not main street. I have to disagree with using the price of oil as a metric given that it went from $140 to $40 a barrell. Drink the kool aid if you like but the people in both Republican and Democratic parties are paid off by the same big corporations. Ron Paul is the only politician that I will vote for.
Friday, September 23, 2011
Consider yourself warned! When the bear takes a dump it falls quickly and don't think bond funds are safe either.
Wednesday, August 17, 2011
Wow and it's obviously amazing how many Americans believe that the United States is the land of opportunity. I propose a reverse devaluation of the United States currency where the Trillionaires who run the central banks of the world are devalued. Yes people, the Rothschild's are much richier than Bill Gates period. I've heard the Rothschild's wealth valued at 50 trillion due to the interest charged on the people's money. Instead of a formal devaluing of the money like in 1934 where gold dollar peg moved from $20.67 to $35, we need to go in the opposite way from the top down. Fifty trillion should be devalued by 70% to 95%. At 95% they would still have 2.5 trillion remaining. Yes the central bankers of the world are laughing at you! The PBS special states the United States wealth gap is comparable to African dictator countries or China. The United States debt is a figment of our imagination.
Wednesday, July 27, 2011
Cui bono, who benefits? Obviously not the common man. Actually the inflation bill will be sent to your doorstep. The person who benefited least and is least equiped to pay the bill will receive the bill. You'll see the price increases in food, energy, and services. In 2010, 39,400,000 people are on food stamps. The US Census bureau has the current domestic population at roughly 309,300,000. Roughly 12.7% of the total US population is on food stamps! This is up 22.4% from last year. In 2009, 2.1 trillion in transfer payments were made and 2.1 million in taxes were collected. In 2010 the US will pay out more in benefits than will be taken in for taxes. The current 2010 budget deficit is projected to be 1.6 trillion and even if you had taxes of 100% of income this still wouldn't be able to balance the budget!
In 1966 Medicare's initial cost was 3 billion and the House Ways and Means Committee estimated the projected cost to be 12 billion by 1990. The actual cost by 1990 was 107 billion dollars or a 792% variance to the initial forcast. Today in 2010 Medicare costs 408 billion annually. It is interesting when you think back to August 15th, 1971 when President Nixon closed the closed the gold window. Before this date foriegn holders of US dollars could redeem those dollars for gold. After this date the money supply started its exponential rise higher over the next 4 decades. The great Austrian Economist Ludwig Von Mises stated "There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Another example of our government estimating costs badly is the Iraq war where initial projections were 50-60 billion dollars. Through 2009 the actual costs for the Iraq war are 713 billion more than 1000% off the projection. Sell it on the extreme low end and then profiteer until it's over
Another example of this is the new healthcare bill which is projected to cost 940 billion over the next ten years. First off what is wrong with Medicare other than it can't possibly be funded? Healthcare will bankrupt the United States."A government able to give you everything you want will take everything you have" Thomas Jefferson.
We can only make this fantasy land real if we print money or borrow from countries like China who have excess savings. If China reevaluates the Yuan the US can't pick up the export market. With China's Yuan worth more they will buy more gold and everything else that has real intrinsic value. In 1910 70% of women's textiles were made in New York and 40% of mens'. Currently we have 34.5% imported from China. We spend over 700 billion in military which is almost half of the world's spend. We have 700 bases in over 140 countries. If war breaks out prices will go through the roof.
Currently the savings rate in the US is 3.1% and 43% of Americans have leass than $10,000 saved for retirement. Also, when you look at Federal government employees versus private sector employees the salaries are $59,909 versus $45,772 and with benefits it's $119,982 versus $76,181. Also the compensation increased in 2009 3.9% and in 2010 is projected to increase 2%.
Furthermore the national debt is 14.4 trillion with another 6.3 trillion in Fannie Mae and 60 trillion in unfunded liabilities for a grand total of 79.1 trillion. This should be rather alarming considering the world GDP is 60 trillion and the United States GDP is 14.2 trillion. When the Department of Energy was founded in the late 1970's we imported 50% of our oil now it's 70's and the department has a budget of 30 billion. In 2009 the Department of Education had a budget of 63.5 Billion that's a 37% increase from the budget in 2002 of 46.3 billion. In 2002 private 4 year college cost $18,516 in 2009 that cost increases 41% to $26,273. China has no food stamps and no unemployment benefits most people still farm in rural areas.
On August 15th 1971 Nixon closed the gold window. You would have to increase the price of gold to one million dollars an ounce to get back on a gold standard. During the depression in the 1930's 27% worked on farms, now only 2%. Farming is less than 1% of GDP. Debt payments are currently $20,800,000,000 billion or 23% of tax receipts. A 2.5% increase in interst rates is a drastic increase to this number. In 1980 909 billion in debt 33% of GDP, today it's 91% of GDP not including unfunded liabilities.
During the early part of the century Greenspan kept interest rates at 1% for a year and you must increase interest rates above the rate of inflation to stop hyper-inflation. Budget freezes have excluded Defense, Medicare, Medicaid, Social Security, and Education. Failure itself is the best regulator. Inflation doesn't create jobs or wealth it just leads to uncontrolled government spending and kills small business and family values. It also leads to dangerous moral ideologies.
Tuesday, July 26, 2011
I attached a chart which shows the alleged contribution of costs to the budget deficit by presidents Bush and Obama. This chart was printed in the New York Times. The first major glaring issue which defends Obama is the lack of accounting for Obama with regards to the continuation of the middle eastern wars which Bush started. As commander and chief you have the power to end our involvement in wars. Therefore, the continuation of the wars during the Obama presidency should count as a deficit contribution by Obama. Especially considering Obama has won a Nobel Peace Prize. What a joke! Another item that jumps out at me from the graph is the 711 billion in stimulus spending which is accounted for under Obama. During the campaign of 2008, John McCain, George W. Bush, and Barrack Obama rushed to Washington D.C. to help "save the world's financial system from collapse". Lets just end this discussion by saying that the budget deficits are a bipartisan achievement, none of which helped the common United States taxpayer. I also attached the GAO's report on the Federal Reserve System. Look on page 144 and see who got the loans or back door bailouts of 16 Trillion in total. Yes, 16 Trillion! Over 1 trillion went to Bear Sterns and Lehman Brothers which were two companies who went bankrupt. Chase bought Bear Sterns but the company was trading at $2 a share and heading to zero. For all intents and purposes the company was bankrupt. The most redeeming quality of capitalism is failure. Companies that make bad decisions must be able to fail.
Sunday, June 19, 2011
Now this is how you get it done...
Tucson Mayoral Candidate on Odd Spree of House Claiming
Some excerpts from the report...
A Tucson mayoral candidate from a fringe political party has seized dozens of foreclosed homes in metro Phoenix, changing the locks, kicking out real-estate agents and posting "Do Not Trespass" signs.
Marshall Home, who claims many foreclosures are illegal, has filed documents in the past two weeks with the Maricopa County Recorder's Office showing he has supposedly taken ownership of at least 21 homes belonging to government-owned mortgage giant Fannie Mae. But none of the documents shows any money has changed hands, and Fannie Mae says it has not sold the houses.
Why would he do such a thing?
"Lenders are gangsters, and they can't prove they own these homes. So they have no right to foreclose," said the 80-year-old self-professed billionaire from his real-estate and political office in Tucson on Tuesday. "I plan to continue to take homes from Fannie Mae and Freddie Mac. I would buy them, but those groups can't produce the notes showing they are the rightful owners to sell or foreclose on them."
I think I like this guys style...
Actually, he isn't doing anything different than Fannie's and Freddie's Foreclosure Mills do...
"He knows how to file a real-estate document that looks legitimate," Ruff said, "even if it may not be."
So how does he do it?
Last week, Phoenix HomeSmart real-estate agents Brett Barry and Roland Cleveland got a call from their brokerage telling them Independent Rights Political Party Trust had sent a letter saying it "acquired all rights" to the house at 6032 E. Skinner Drive in Cave Creek. The agents were hired by Fannie Mae to maintain and market the property and had heard nothing about a sale of the home.
The notice told the real-estate agents they had 72 hours to remove their signs and lockboxes, so they rushed to the house wondering what was happening and why hadn't they been informed. But they were too late. Home's group had taken their lockboxes, installed new locks and posted signs saying the house was under video surveillance and any trespassers would be "dealt with to the fullest extent of the law."
A special-warranty deed, stamped by the Maricopa County Recorder's Office, also was posted on the window of the home. The deed said the Federal National Mortgage Association, Fannie Mae, had conveyed the property to the Independent Rights Party. It was signed by Home and his notary, but there were no signatures from Fannie Mae on it.
Ah, so he is assigning the properties to himself. Just like the servicers do...
LINDA "MARSHALL HOME" GREEN!!!
So, what did the Realtors think?
"We called the people who hired us and work with Fannie Mae, and they didn't know anything about a sale," he said. "It appeared right away the document was fraudulent."
"It's crazy," he said. "How does someone just declare they own a home without paying for it or obtaining a clear title?"
So how does he get away wit it you ask?
All types of documents can be filed with the Recorder's Office as long as they are notarized. Not all documents are scrutinized before the county agency accepts them because that's not its job.
Home said his group also has claimed control over foreclosure houses in Tucson and other parts of the country, including Florida and Las Vegas.
Home said he took control of a 145-unit condominium project for a man in Florida.
So what does Marshall Home have to say about all this?
"We've seized hundreds of homes from Fannie Mae and Freddie Mac," Home said. "Those groups have no legal right to them."
"I haven't been contacted by either entity nor has either one done anything to stop me," Home said. "I look forward to a call from one of them so I can explain why I am legally in the right to take over taxpayer-owned homes."
You can check out the article in its entirety here...
And the dude is 80 years old!
Article from zerohedge.com
Thursday, June 2, 2011
Saturday, April 16, 2011
Face it our government is as corrupt as they come. Frank Lucus in the American Gangster documentary showed that heroin was smuggled in mass quantities during the Vietnam War with the CIA owned airlines named Air America. Yes, Air America is the name of Senator Al Franken's radio station before it went bankrupt. The drugs were flown in to the United States military air bases. I'm sure the same thing is happening today in Afghanistan.
Friday, April 15, 2011
Tuesday, April 12, 2011
Monday, April 11, 2011
I found these two illustrations interesting given that the countries of the world are revisiting the Brenton Woods agreement. On August 15th of 1971 the United States president at the time Richard Nixon closed the gold reserve window. This meant that foriegn holders of US currency could no longer get their paper currency swapped with physical gold. After 1971 the paper money supply and people's attitudes toward debt have gone through the roof. Hopefully the world always has faith in the US dollar because things will get ugly if the world doesn't.
Saturday, March 26, 2011
Friday, March 4, 2011
Part 1 focuses on the first 1:10 of the video. I'll cover oil and OPEC in Part 2.
The first part of the video focuses on our currency and debt. Remember we have only had one US president who paid of the national debt in its entirety. That was our seventh president Andrew Jackson. Of course it's in the bankers interests to have debt because they borrow from the bankers and have to pay interest to the bankers on the debt borrowed. Here are my 5 favorite Andrew Jackson quotes just so it's on the record:
1)"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves."
2.)"You are a den of vipers and thieves. I intend to rout you out,
and by the grace of the Eternal God, will rout you out." in reference to bankers
3.)"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."
4.) "The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."
5.) "The Bible is the rock on which our Republic rests" (that's for you AT JD)
Representative Mark Kirk from Illinois just let Ben Bernacke know that we do not need to have a huge national debt and pay interest on our own money. Also we do not need to have the government borrow from the Federal Reserve and pay interest to the bankers. The US Treasury under vote from the Congress could do this and eliminate our central bank. Remember, no debt and their would be no interest. In 1837 Andrew Jackson ended the 2nd bank of the United States which lasted from 1817-1837. We didn't have a central bank until 1913 with the Federal Reserve. It's possible for private parties to contract at an agreed rate of interest or the Congress could spend the money into existence without borrowing. Obviously if Congress didn't control the quantity of money effectively then we would have inflation. You could increase the money supply with population growth and this would control inflation and keep the value of the currency stable. This is the main reason prices rise and in the first quote above shows you that things haven't changed in the last 175 years because what is innate in man hasn't changed.
I will cover the issue of oil in my next post.
Monday, February 28, 2011
This was pointed out while collecting an Oscar. Extend and pretend and everything will eventually be OK. Off topic, I'll bet in the next year the US military is on Libyan soil to make them more free and democratic, but really this will just be a guise to steal their oil. Bets anyone?
Friday, February 25, 2011
She figured this all out before the time she turned 18, WOW! Indoctrination to the conditioning of getting a job at a big corporation under the rule of secret government. I felt like a robot going to the corporate rat race for 9 years! Thinking is not valued and dissent gets you fired in corporate world. This is one of the reasons the US Department of Education needs to be dissolved. Standardized tests are a measure of a good test taker. Many people never think about what they are really doing and if it is really good and right. People don't question and mindless adherence to the rules is the norm.
Friday, February 11, 2011
I know many people who are happy to live under our current system. Why do people feel a debt based monetary system is a good thing that is in the people's interests. Interest, Inflation, and Taxes are gaurenteed to keep you on that spinning wheel to nowhere.
Friday, February 4, 2011
Hence the problem and the reason my attorney buddy is leveraged beyond the universe. My attorney friend seems to like his enslavement. I think he's got a case of the Stockholm Syndrome. He seems to believe what he's told in the media and he believes that Bill Gates, Warren Buffett, or Larry Ellison are the richest people in the world. The richest people are behind the international banks like David Rockefeller and the Rothschild family who control the central banks in five European countries. My attorney buddy should go to Chris Martenson's website and watch the whole crash course it would do him a service. I guess ignorance is bliss. Good day all.
It's amazing how when you get older and see how things really work you can get disenchanted with the world. The IMF and World Bank give the people the front of doing good and helping people but in reality they cause more starvation and poverty by design. Read Confessions of an Economic Hitman by John Perkins, his book details his consulting work relating to the IMF and World Bank. I really can't believe the people have allowed this scheme to go on for this long considering the damage private banking has caused. The IMF basically makes you sign a bad contract under duress and if you can't repay they will send in the military to take your resources like oil, farm land, ect ect or through privatization. This is going on world wide in Europe and will be coming to the United States. The contract probably states your exchange rate, the monetary policy you must follow, interest rates to be charged and the interest rate you can charge to atract capital. This is presently going on in the United States now with the devaluing of our currency which makes good from China cost more and your ability to export via production is reduced also. Which the end result is a reduction of living standards to a country's citizens. These are both good videos.
I've written a couple posts on this in past. Dylan Ratigan has covered this banking fraud perfectly. He started with the 700 billion dollar bailout which came after Bear Sterns and Lehman Brothers bankruptcy and still we have seen NO yellow jumpsuits by the cullprits. Yes the unemployment rate went down today to 9% because discouraged workers unable to find work and dropped out of the denominator in the equation. In theory total goods and services produced should equal the money and credit being circulated multiplied by the velocity of the circulation. If there's more money in circulation via electronic money printing at the Federal Reserve which has become the World Bank, then the currency now has less value and real goods rise in price. Yes folks it's a giant cover up of blatent fraud.
Wednesday, January 19, 2011
Very interesting at the end of the video he states that all of his major losses that he remembered occurred in the stock market. All of the stocks he mentioned were accounting fraud issues Enron, World Com, and Tyco. Just google Bernard Ebbers, Dennis Koslowski, Ken Lay, Andrew Fastow, or Jeff Skilling. Those guys in suits and ties are a dangerous bunch. There's still way too much debt in the system currently that needs to work itself through.
Wednesday, January 12, 2011
We are certain that in any other banana republic, at least some answer to this rather important question would be sought. But not in this particular one...
More from Cleveland.com on the curious case of Peter Sikora.
A Cuyahoga County Juvenile Court judge faces foreclosure on his eight-bedroom, lakefront Cleveland home after falling a year behind on a nearly $1 million mortgage and property taxes.
Judge Peter Sikora said he hopes a mediation session scheduled for next month will keep him in his Edgewater Drive home, which the Cuyahoga County Auditor's Office has appraised at $844,000.
Sikora, who makes $121,350 a year as a judge, said in a telephone interview Thursday that he has the money to make his mortgage payments. What got him in trouble was following the advice of officials at JP Morgan Chase & Co., he said.
With property values in decline over the past year in Cleveland, and mortgage rates the lowest in decades, Sikora sought to refinance. But the bank, he said, declined his request.
"The bank advised me that the only way they would consider a loan modification would be if I fell behind on my payments," said Sikora, 59, a judge since 1989. "I took their advice and put the money aside."
Sikora said he was surprised when, in June, during the middle of negotiations, JP Morgan Chase filed the foreclosure lawsuit against him seeking $999,000, including $6,400 in unpaid property taxes.
"It's unfortunate that it's gotten to this situation," Sikora said. "I've been talking with them for more than a year, but the bank hasn't been responsive."
And the kicker: this judge, who voluntarily stopped making payments even though he knew full well this was against his contract, and knew he was in effect scamming the system, tried to be a Supreme Court judge on three seperate occasions! Is it any wonder then that the entire judicial system is paralyzed, and is corrupt beyond comparison? After all, it is full of thousands of Peter Sikoras who would do anything in their power, even break the law, just to get on the banks' good side.
Sikora was elected in 2008 as president of the Ohio Association of Juvenile Court Judges. A Democrat, he ran unsuccessfully three times for the Ohio Supreme Court.
He acknowledged it doesn't look good for a juvenile court judge to become delinquent on property taxes, which are used to support schools and the children who appear in his court. But he said the bank is responsible for paying the taxes out of the escrow account.
What else is there to say? There are those who wish to fix the system out there, and god bless them. The problem is any attempt at fixing the system will inevitably end up in bringing the whole charade down. Which is why, as we have been claiming for just over two years now, the "scalpel" approach to cancer elimination is doomed. The cancer has metastasized long ago and the condition is terminal.
The banks are flat out untouchable. The bank is now the taxpayer via the GSEs. When judges break the law and get away with it's justice or "just us" meaning all other people who aren't part of the elite class are accountable to the law. The big banks need broken up and the Federal Reserve needs to be abolished. These games of propping up the system can only go on for a few more years maximum. I'll make a market call of less than a year. By the end of 2012 the market will have a correction that takes us lower than March 2009. It's amazing how many people believe that the economy is actually getting better and have trouble understanding that it's not normal or financially wise to build castles in the sky with debt. Are you getting more credit cards in the mail? Is your house worth more? Asset prices are variable but debt is fixed. You can't rage against the system. It's better just to control the controllables.