Financial Crisis

[JimGant]

Your just not the sharpest tool in the shed are you Jim?

Yeah, you're right. The Patriot Act is a serous affront to the Constitution. That we now have the capability to read the mail of folks who have the capability to kill thousands of Americans -- should be just plain unconstitutional to utilize. That so many Americans are now laid wide-open to having their mail read -- would have made the Founding Fathers incredulous. Except, the only mail being targeted has a particular odor. And that's not my mail, nor yours, Fying. And, another 9/11 has been pushed further out than otherwise. Unfortunately, we really are just "too free" to prevent the next 9/11. But, that's a compromise I --and most Americans -- are probably content to live with. (Don't hold your breath, understandably, after the next one, however.)

And the Expatriation Act? Well, I've already taken my dull tool to that (not that it will ever pass, nor will I care if it doesn't).

[JimGant]

She along with the rest of the 150 or so US citizens had to all walk through a full body scan.

No options no opting out. For a 40 minute flight interstate.

Well, I'm sure not all 150 were US citizens -- foreigners, amazingly under the Patriot Act, are still allowed to fly on 40 minute interstate flights.

What's your beef? After 9/11, the TSA implementation has been an added impediment to all airline travelers. I'm really sorry we somehow allowed 19 religious foreign fanatics to so easily board US airliners. So, now we are subject to added screening. What would you suggest?

Welcome to the 21st Century. It's a tough world, and getting tougher. But, that's not all America's doing -- far from it. Yes, we've made some super dumb decisions on wars, from Vietnam forwards. But, we'll move forward, financially and otherwise. The good still far outweighs the bad -- as America still has a great foundation, augmented by so many fine immigrants striving to get ahead. I'm sure they'll be glad to take your place....

[flying]

What's your beef? After 9/11, the TSA implementation has been an added impediment to all airline travelers. I'm really sorry we somehow allowed 19 religious foreign fanatics to so easily board US airliners. So, now we are subject to added screening. What would you suggest?

Listen as this is the last reply to this since this is the financial crisis thread after all & I am sorry if I helped derail it...........

As to your quote above it is ignorance at best....TSA targeting interstate or exiting flights only....even interstate trains now.

Basic common sense. I fly internationally to more than a few spots.....Guess what none have that kind of boarding security

So IF the US wants to make the US safer you would think they might throw the goons at the INCOMING passengers?

Nah that would make sense since they just arrived through easy boarding security elsewhere....But no I can tell you they basically walk in just as the 19 did. Of course the obligatory..."anything to declare"?...No? Ok go ahead...

But hey what is the TSA all about if not adding jobs as the big O promised. We just never knew they would all be serving a government we pay in the first place..........Funny I always thought it was designed to work the other way

But that aside the whole patting down of 5 year olds in wheel chairs as recently done & much worse is insane.

Subjecting everyone to scatter radiation via scanners that even most doctors will not enter?

Go for it enjoy usually folks can opt out for the grope fest instead...except today for some reason

As to the 19 ....yeah maybe better defense at arrival eh? 9/11? As in 9-11-2001?

15 of the 19 were Saudis........odd that? Not really

Or maybe not allow non-immigrants to train as pilots?

Maybe instead consider we would have less effect if we instigated less cause?

Maybe instead of 700 bases world wide & spinning us into poverty with various undeclared wars

bring them all home? That would be enough to form a pretty decent defense no?

Must be nice to think as you do & figure they only look into folks private affairs if they are blowing things up.

But when you gave up the freedoms others fought so hard for there was not that stipulation.

With no Habeas Corpus(thank you Patriot Act) how the heck would you know who is being picked up & held without any rights to a trial or lawyer?

I guess your down with water boarding too? Even though the US hung Japanese prisoners after finding them guilty of doing the same.

Who knows maybe your fine with all that?...........All I know is the slippery slope is well along here

As I said come on back..............Enjoy

Ever read the 12 warning signs of Fascism?

http://iweb.tntech.e..._of_fascism.htm

Edited March 31, 2012 by flying

[midas]

Ever read the 12 warning signs of Fascism?

http://iweb.tntech.e..._of_fascism.htm

This book is also interesting and this poignant sentence in the review I thought was particularly evocative

They Thought They Were Free: The Germans, 1933-45

http://www.amazon.com/They-Thought-Were-Free-Germans/dp/0226511928

" Without drawing too fine a distinction, it is difficult to miss the many parallels between contemporary American society and 1933-1939 German society."

[midas]

Your just not the sharpest tool in the shed are you Jim?

Yeah, you're right. The Patriot Act is a serous affront to the Constitution. That we now have the capability to read the mail of folks who have the capability to kill thousands of Americans -- should be just plain unconstitutional to utilize. That so many Americans are now laid wide-open to having their mail read -- would have made the Founding Fathers incredulous. Except, the only mail being targeted has a particular odor. And that's not my mail, nor yours, Fying. And, another 9/11 has been pushed further out than otherwise. Unfortunately, we really are just "too free" to prevent the next 9/11. But, that's a compromise I --and most Americans -- are probably content to live with. (Don't hold your breath, understandably, after the next one, however.)

And the Expatriation Act? Well, I've already taken my dull tool to that (not that it will ever pass, nor will I care if it doesn't).

Jim Grant it is a bit pathetic when you have to resort to these kinds of blatant untruths.

You have no idea whatsoever who or what the National Security Agency will be closely monitoring

Exposed: Inside the NSA’s Largest and Most Expansive Secret Domestic Spy Center in Bluffdale, Utah

http://www.democracynow.org/2012/3/21/exposed_inside_the_nsas_largest_and

[JimGant]

As to your quote above it is ignorance at best....TSA targeting interstate or exiting flights only....

As I recall, the 9/11 airliners were boarded within the confines of the US....

I fly internationally to more than a few spots.....Guess what none have that kind of boarding security

Not sure of where you've been flying to...... Even leaving Swampy, on a US carrier, the last several years (since the shoe and underwear bomb near-misses) has everyone having their carry-on luggage hand searched. And recenlty, transiting Istanbul, the hand search for Turkish Airways, heading for Dulles, was super precise. I finally lost my mini Philips eyeglasses screwdriver. The screener was embarrassed, but I went out of my way to compliment his thoroughness -- and felt good doing that. Just hope his preciseness indicates flying Istanbul to the US is as secure as reasonably possible -- and that similar security measures are in place at other foreign airports flying direct to the US.

Sorry you feel the additional screening since 9/11 infringes on your Constitutional rights. But I'm just glad it makes my flight that much more secure. Yes, screening 5-year old babies is ludicrous -- use the limited resources to screen swarthy-looking Mid-Easterners instead (I'm sure we are, in spite of the riduculous political correctness stereotyping argument). However, soon there will be a blue-eyed, 80-year old Jihadist, carrying a bomb in her Depends' urine collection pad. Then what......?

Anyway, it's weird times we live in. Now we have to screen what madness is in a pilot's brain, not what's in his carry-on. Guess I'll have to drink more when I fly.... Sigh.

[Wrong Turn]

Thanks for the info on the NSA, Midas. Very disturbing - once again.

As for Prison Planet (still with Alex Jones correct?) on the delay of an Iran strike, it's hard to say: maybe true, partially true, or false.

Alex Jones has gotten a LOT of things wrong in the last couple of years. I still think he has value, but but he's gotten his predictions wrong, including on his predictions of an Iran strike a couple of times.

We shall see.....

[Naam]

when people discuss security measures at Istanbul airport and a spy center in Utah we can be sure that the financial crisis is over.

[rijb]

Don't forget the trickle down from the mega millions lottery.

[midas]

when people discuss security measures at Istanbul airport and a spy center in Utah we can be sure that the financial crisis is over.

if it is over I wonder what they are celebrating on the streets in Spain?

It's a bit early for new year?

[midas]

Thanks for the info on the NSA, Midas. Very disturbing - once again.

As for Prison Planet (still with Alex Jones correct?) on the delay of an Iran strike, it's hard to say: maybe true, partially true, or false.

Alex Jones has gotten a LOT of things wrong in the last couple of years. I still think he has value, but but he's gotten his predictions wrong, including on his predictions of an Iran strike a couple of times.

We shall see.....

I would be interested to know why in 2 cases where the government entrusted the job of eavesdropping

on ordinary Americans in their telephone conversations not only was this to private companies but how did these two private companies

both just happen to come from Israel? I mean don't the other 195 countries in the world have similar skills ?

Edited April 1, 2012 by midas

[ronz28]

Hugo Salinas opines on silver investments, the European Depression, jobs and the consequences of dishonest paper money not backed by gold/silver.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/4/1_Hugo_Salinas_Price_files/Hugo%20Salinas%20Price%204%3A1%3A2012.mp3

His solution for the financial crisis is to gradually inject silver into the monetary system to back the value of money.

Edited April 1, 2012 by ronz28

[mccw]

In case of total system collapse how many of you have taken precautions like stock piling food and home security etc?

[flying]

I cannot help but feel he is correct

Americans don’t care.

Greenwald can write until he’s blue in the face about all the hypocrisy of the Obama administration—and it won’t matter, because nobody else will be outraged. Yves Smith can go on and on about the utter unfairness and corruption of the “Mortgage Settlement” process—and it won’t matter, because nobody else will be outraged. ZH can insist that Goldman and Jamie Dimon between them are the Anti-Christ—and it won’t matter, because nobody else will be outraged.

Just something he put in at the end of a mini analogy/rant but.... I feel he is right....we have watched for years now & whether due to ignorance, indifference or just to plain busy with their noses to grindstones or trying to find a grindstone to employ them...who knows.

But I do know talking to folks here most do not care.

Quote from Gonzalo Lira's latest post on the painting

The Execution of Lady Jane Grey

[waza]

Is it me? Is the GFC over? The US economy is improving, unemployement is dropping and the US stockmarket is nearly back to the dizzing height it was at before the crash. The EU hasnt imploded or fallen apart and its seems the bandaids are holding. The Asian economies are still growing, it all seems status quo.

[swisstouristpattaya]

Is it me? Is the GFC over? The US economy is improving, unemployement is dropping and the US stockmarket is nearly back to the dizzing height it was at before the crash. The EU hasnt imploded or fallen apart and its seems the bandaids are holding. The Asian economies are still growing, it all seems status quo.

wait for summer when more fuel is needed for these dam_n planes.

then pain will come back!

[Naam]

Is it me? Is the GFC over? The US economy is improving, unemployement is dropping and the US stockmarket is nearly back to the dizzing height it was at before the crash. The EU hasnt imploded or fallen apart and its seems the bandaids are holding. The Asian economies are still growing, it all seems status quo.

the Great Financial Crisis is not over but the "big bang" it was supposed to cause seems postponed. as far as the EU is concerned there's still an 800 pound gorilla to be financially tamed and that is Spain. Portugal will be a piece of cake as Greece was a piece of cake although the next generation taxpayer will not consider it to be sweet cake.

some of Spain's citizen burning cars, smashing shop windows and looting shops will of course not change the global situation and neither will the protests and the suffering of the Greek population which has to adjust from ClubMed/dolce vita attitude to austerity for quite a number of years to come and the same applies to Spain.

having said so, i'd like to point out that this is my view of today's situation. however, i reserve all rights to change my view any time perhaps tomorrow, next week or next month. in the meantime let's make as much hay as the sun shines a little.

[Naam]

Is it me? Is the GFC over? The US economy is improving, unemployement is dropping and the US stockmarket is nearly back to the dizzing height it was at before the crash. The EU hasnt imploded or fallen apart and its seems the bandaids are holding. The Asian economies are still growing, it all seems status quo.

wait for summer when more fuel is needed for these dam_n planes.

then pain will come back!

right you are! those dàmn planes will let the global economy implode

[midas]

Is it me? Is the GFC over? The US economy is improving, unemployement is dropping and the US stockmarket is nearly back to the dizzing height it was at before the crash. The EU hasnt imploded or fallen apart and its seems the bandaids are holding. The Asian economies are still growing, it all seems status quo.

Its a pity the people in Brevard County, Florida, home to the Kennedy Space Center can't share

your " enthusiasm ".........

http://www.cbsnews.com/8301-504803_162-57407321-10391709/space-coast-through-the-lens-of-60-minutes/?tag=strip

[flying]

Its a pity the people in Brevard County, Florida, home to the Kennedy Space Center can't share

your " enthusiasm ".........

http://www.cbsnews.c...utes/?tag=strip

I probably watch an hour of TV per week these days...But I happened to see that segment yesterday here in the US

[waza]

As the jobs market strengthened in the U.S., household earnings in the fourth quarter grew at a quicker pace than earlier thought. As against final estimation of growth in gross domestic product of 3%, the economy grew at a robust 4.4% which is the fastest rate starting from the first quarter of 2010. This indicates that there is much more inherent strength in the economy.

In the first quarter of the year, job creation and the labor market have strengthened considerably. According to a report from the Labor Department, the number of Americans submitting new unemployment benefits claims decreased last week to 359,000, which is the lowest in about 4 years.

http://www.stockpricetoday.com/stock-news/u-s-economy-booming-it-seems/

Is this market boom for real?

There’s reason to think the good times may be here to stay

by Chris Sorensen on Monday, March 26, 2012 10:28am - 3 Comments

Is Japan set to boom?

John H. Makin | American Enterprise Institute

March 05, 2012

For every micro-economic story of doom there is an avalanche of good news economic recovery stories. Macro-economic results look positive, better than one could have imagined and the recovery is well undeway. The sceptic in me says this is just manipulated data designed to get the muppets back into the market to gamble away what is left of their life savings. Or a strategy to show Obama has weathered the storm and steered the US economy to calmer waters, to aid his re-election chances.

[midas]

For every micro-economic story of doom there is an avalanche of good news economic recovery stories. Macro-economic results look positive, better than one could have imagined and the recovery is well undeway. The sceptic in me says this is just manipulated data designed to get the muppets back into the market to gamble away what is left of their life savings. Or a strategy to show Obama has weathered the storm and steered the US economy to calmer waters, to aid his re-election chances.

but when are they going to start paying off the $15 trillion debt?

[12DrinkMore]

but when are they going to start paying off the $15 trillion debt?

That will never, ever be paid off.

It will only get bigger and bigger. And the Bernank will keep the market going. He has the biggest lever in the world and will use it.

However, I think that this might, in fact, sort out a few issues.

The money that the Bernank creates to buy Tim's debt accrues interest which, after the Bernank takes a bit for his running costs, is then returned to Tim. This is, I think, effectively injecting a dose of debt free money into the economy through government spending. This money will be used by its' receivers to pay bills, buy assets and pay down debt.

The "money as debt" video, which is a very simplistic view of how the economy works, does have an important message. But if I have got my thoughts correct, then the debt can, in fact, be paid off through the combination of Tim issuing debt and the Bernank buying it up.

It does mean that the balance sheet of the fed will be expanded forever, but that is simply numbers in the Bernank's computer.

Do they matter?

Edited April 3, 2012 by 12DrinkMore

[midas]

but when are they going to start paying off the $15 trillion debt?

That will never, ever be paid off.

It will only get bigger and bigger.

Like the unfunded liabilities of Medicare, Medicaid and Social Security..........

these exceed $100 trillion and cannot possibly be honored, leaving future generations to fend for themselves.

Edited April 3, 2012 by midas

[Naam]

but when are they going to start paying off the $15 trillion debt?

they can't. that's why they won't give it a try.

[Naam]

Like the unfunded liabilities of Medicare, Medicaid and Social Security..........

these exceed $100 trillion and cannot possibly be honored, leaving future generations to fend for themselves.

why worry about facts that can't be changed?

[12DrinkMore]

but when are they going to start paying off the $15 trillion debt?

That will never, ever be paid off.

It will only get bigger and bigger.

Like the unfunded liabilities of Medicare, Medicaid and Social Security..........

these exceed $100 trillion and cannot possibly be honored, leaving future generations to fend for themselves.

Either the liabilities don't come in the the amount forecast, or they will be paid by the Bernank or his successor.

The government has made a promise and will keep it.

The big question is what happens when the money is issued by the Bernank or his successor?

Nobody knows, because it depends on the decisions of the future powers, which will be elected by future generations.

[waza]

The US has a massive debt, but that debt is owned by its major creditors. They wont be too keen to allow the US to default because the worlds economy will take a big haircut. If that happens it better don its yellow robe and travel the streets with its food bowl looking for handouts. That leaves us with what?

PS: I am still making 10% after tax from my stocks and capital gains.

Edited April 3, 2012 by waza

[flying]

The US has a massive debt, but that debt is owned by its major creditors. They wont be too keen to allow the US to default because the worlds economy will take a big haircut.

The US will never default......why would they? They have a printing/digitizing press

Yes others own much of the debt but they will never be defaulted on.

But they can/will be only able to get fractions of the debts original worth when the presses go into hyper drive.

So the haircut still exists

Sad thing is the haircut is not just given to those foolish enough to keep issuing credit to a poor/counterfeiting

customer but also given to those who played by what they were always taught were the rules/common sense economics.

Those who toiled & saved daily all their lives will see the actual purchasing power of their savings/pensions etc diluted greatly.

[flying]

We live in a time when a tiny handful of people have their fingers on a button that can conjure trillions of dollars, euro, yen, and renminbi out of thin air. In the United States, it comes down to one man. Just one.

With a single decision, he controls the lever that dominates the entire economy. When you control the money, you control everything– financial markets, consumer prices, risk perceptions, investment habits, savings rates, hiring decisions, pay raises, sovereign debt, housing starts, etc. One man.

http://www.sovereignman.com/finance/are-there-any-currencies-backed-by-gold/