Howdy Harry,
Many a true word is spoken in jest, However , in the case of baby boom
economics, birth control and abortion negated the grand scheme behind social
security.... but .. not to worry... the wise in DC and the Catholic church
figured out a way to import babies,
As in all pie in the sky ideas and with lotsa help from FDR and LBJ and
their crew of totally incompetent Harvard and Yale educated ku-ku Rubins,
the grand idea of installing biscuit wheels on the gravy train sounded like
the solution of how to further PT Barnum's axiom.
Fast forward to year 2009. The grandma ( yes,even the White house has a
grandma now to watch after the granchillen' like down in the 'hood) of all
inaugural parties is over after spending $ 300 million for drinks and
dinner, the biscuit wheels done come off 'de gravy train. Of all the places
for the train wreck to happen... was over Hell's canyon.
Again, never fear, we have the "man" from the NY Fed coming in to teach us
how a parachute works... well.. err. as soon as he pays his back taxes and
sweeps his housekeeper from Guatamala under the rug.
Meanwhile, Rush Bimbo has a radio station to explain why stage coach robbers
could have saved the gravy train by simply blowing up the tracks.
If all this sounds like some fairy tale spun by drunks at the Dime Box
Saloon.. just watch for the reaction when the bartender raises the price of
beer cuz of the CO2 gas risin' from the head of foam.
One only wonders how Shakespeare would have wound this fiction into his
Hamlet tale.
Richard
No problem.
Just promote baby making. Let your (grand)children pay off the debts.
Come to think of it, perhaps that is why there was babyboom...?? haha
On second thought let's return to the gold fetish. bawahaha
Harry
Further to big D's
. Over the past 25 years the Gov't, States, Cities, business and
people have been on a spending spree financed mostly by bonds. An
estimated 150-300 trillion in bonds have been sold. Where did the
money go? a third of it went to fees and commissions, lawyers,
Insurance firms, etc. Who received these fees? principally the
investment bankers like Merrill Lynch, Goldman Sucks and everybody
else on earth with a spoon or soda straw.. That is 100 trillion
bucks in cream sucked off the top,
When you look at the building boom the past 25 years you can tally
the cost of construction.. 100 trillion plus .. that does NOT count
the home building craze.. that's another 70 trillion.
Where did all this wealth come from to buy the bonds? The total
wealth of the nation is only a fraction of this amount.
There wasn't enough money .. so.. the gov't allowed the investment
bankers to "conjure" an illusion of worth called a derivative..
The Fed was in on it, the major banks and investment bankers
worldwide were in on it.. It never was a secret .. it was a way to
keep the good times rolling.. Like a ponzi scheme or a pyramid
club.. everybody knew it would end someday. 700 bil plus 850 bil
wont cure it.. not even 10 trillion will cure it.. why? because
once the trust is gone.. it's like playing monopoly.. when the game
is over.. everyone recognizes the money was monopoly.Look at where
the world is putting their money.. in US treasuries at zero
interest. not in the stock market. The stock market is now being
used to "launder" Dark Pools and hedge hedge funds.
There is NO trust or confidence in the financial system, which is
why the stock market is being gamed every day and why Obama has a
problem that he can't solve and why wise heads recommended the
gov't let the investment banks fail because they will fail anyway
regardless. It would only take about 20 trillion in soap and bath
water to revive the economy.. if it were spent on the economy.. it
wont be.. it will be spent on social welfare which will prolong the
day the bottom falls out and nothing can fix it.
http://thehill.com/dick-morris/the-obama-presidency--here-comes-
socialism-2009-01-20.html
Richard
Howdy Jones,
Since not even the people that invented derivatives can explain
what they are.. and .. since they are not actually carried on any
ledger, how would a bank evaulate a big D? Unless.. well.. err..
that's the purpose behind them.
There is some 350 trillion( nobody knows how much more) in
derivatives ( big D) floating around the world cesspool. A big D is
not even a piece of paper, it is an illusion created for the
purpose of making a lender believe there is an underlying asset
keyed to some debt instrument. Richard
Richard,
What are the objections of the New Admin prohibiting all
publicly traded banks and corporations from owning or trading
derivatives?
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From: R C Macaulay <[email protected]>
Like illusionalists, Dubai and many so called sovereign wealth
fund nations, are composed of smoke and mirrors like Enron. Come
payday and the response is 'no sabe'.
Perhaps the largest magician of all is Merrill Lynch. They
passed themselves off to BoA as pure cherry pie. Not even the Fed
can grasp the depth of the tangled web at ML when they stopped
counting at 40 trillion dollars of exposure .
For example, Enron bought two rusty barges and formed a
"offshore floating crude oil storage "facility" near Nigeria. ML
showed Enron how to "magically count" the two barges as a series of
"fleets". The leadership at Enron got so caught up in the illusion
that they began to believe the magic themselves. Most investment
banking firms on earth started doing it. Now, nobody is sure how
much is out there and nobody at the Fed really wants to know
Any attempt by the Fed to "translate" a big D into some type of
asset requires that the Fed assign it some value. The minute the
Fed assigns a value, the Fed has to buy it.
BO should enjoy his day in the sun before the rain..
Richard
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