cottonzway
I was saying boo-urns
I have been beating people over the head here for probably over a year on the economy. It’s been the topic more then anything in my free-time outside of my normal hobbies I have taken an interest towards. Usually I rant and rave about things that matter to me because I don’t know how to articulate myself well enough while at the same time keeping my emotions in check. I’m a fiery person when I care about something. My own facts get confused with ranting and rhetoric that I cause often myself. I can be my own worst enemy trying to put my views out and often stick my foot in my own mouth. The economic breakdown, the tanking dollar, and the global impact on it all. So here is my breakdown on why I feel this way and why I see our monetary policy being the single most important issue on this planet.
The facts are more diffuse: the banks got greedy with sub-prime and credit default swaps, derivatives, and feeding off other consumer credit bubbles like in the credit card market. Moody's and S&P played along, allowing near-junk bonds to be rated AA or AAA. The Federal Reserve encouraged the greed with the low interest rates and the SEC looked the other way on regulation.
At the federal level, consumer spending is 70% of GDP, personal savings are at an all time low, inflation is at a 17-year high, consumer confidence is shot, the housing market is tanking, and credit card defaults are rising; the Bush tax cuts and record spending mean the US government is now terminally bankrupt in the long-term, and the states are hitting record shortfalls.
And more and more...Add to that the factors of ending of the Yen carry trade, the Chinese currency being artificially low, the massive and growing trade deficits, the sinking dollar...Hell, we know the PPT is already involved trying to prop up the markets since late 2006.
It's the product of banks and their associate players who got too greedy exploiting a debt market that became far more profitable than capital infrastructure investment; and dealing poorly with a rapidly changing international economy where US supremacy is no longer guaranteed.
The dollar controls such a vast portion of the global economy that it’s failure is really a global failure. Money runs the world, regardless of how heartless that sounds it is true as the sun being there tomorrow morning. It’s failure without significant time for the rest of the world to bail out will lead to desperate times on a global scale. Desperation brings upon the worst decisions by human beings. It’s the concerns about our own economy that many fail to consider. The global impact.
My own personal views are we are already not only broke and bankrupt, but totally insolvent. I say that not because of the reactions of economic pundits, but understanding now how Central Banking works and who is the core global Central Bank and what they say on the issue. That would be the BIS (Bank for International Settlements) who sets the policy for all Central Banks, including our Federal Reserve. Spend a few hours on their site (www.bis.org) and see just how uneasy you feel about the dollar and the Federal Reserve from the eyes of those who set their polices.
The Federal Reserve is kind of a joke to me because of it’s name. There is nothing Federal about it and there sure as hell are no reserves. It’s private no different then any business and loans money to the US government at interest. It’s the core reason why we are in this financial crisis. There is a good reason why they stopped the M-3 money index on March 23, 2006. They don’t have to show the amount of dollars in circulation and don’t have to show going forward fully what they are printing. You know what that means to you? Hyper-Inflation.
I have tried to get people excited about Ron Paul because of this very reason and some people took towards it. Is it enough? No as Obama is going to walk in to office. He is the only person willing to admit what is going on and directly address it. He comes from the Austrian School of Economics. The simple way to explain that is your currency needs to be back by something. Is that a gold standard? Maybe, at least partially. Hell, we had that until George Shultz and Paul Volcker decided to help destroy the Breton-Woods system in 1971. Nobody else though, right or left addresses monetary policy at all. It’s going to cost us both figuratively and literally.
I guess that’s it. I think I made my points. Not much else to say but many of you need to wake the hell up about what is going on without economy and address it accordingly. It’s not a political issue as much as it is daily livelihood issue. All indications point to this whole system falling at some point without a correction to it. This is the topic that will start wars and cause riots one day if people can’t afford to eat. It needs to be addressed and it’s not properly being done enough people. Please carefully read this and look at what I am saying. I am only speaking on this because it needs to be a topic among people in a very serious manner and I hope to start it among our small corner of the web on The Paracast.
Thanks for reading all of this.
The facts are more diffuse: the banks got greedy with sub-prime and credit default swaps, derivatives, and feeding off other consumer credit bubbles like in the credit card market. Moody's and S&P played along, allowing near-junk bonds to be rated AA or AAA. The Federal Reserve encouraged the greed with the low interest rates and the SEC looked the other way on regulation.
At the federal level, consumer spending is 70% of GDP, personal savings are at an all time low, inflation is at a 17-year high, consumer confidence is shot, the housing market is tanking, and credit card defaults are rising; the Bush tax cuts and record spending mean the US government is now terminally bankrupt in the long-term, and the states are hitting record shortfalls.
And more and more...Add to that the factors of ending of the Yen carry trade, the Chinese currency being artificially low, the massive and growing trade deficits, the sinking dollar...Hell, we know the PPT is already involved trying to prop up the markets since late 2006.
It's the product of banks and their associate players who got too greedy exploiting a debt market that became far more profitable than capital infrastructure investment; and dealing poorly with a rapidly changing international economy where US supremacy is no longer guaranteed.
The dollar controls such a vast portion of the global economy that it’s failure is really a global failure. Money runs the world, regardless of how heartless that sounds it is true as the sun being there tomorrow morning. It’s failure without significant time for the rest of the world to bail out will lead to desperate times on a global scale. Desperation brings upon the worst decisions by human beings. It’s the concerns about our own economy that many fail to consider. The global impact.
My own personal views are we are already not only broke and bankrupt, but totally insolvent. I say that not because of the reactions of economic pundits, but understanding now how Central Banking works and who is the core global Central Bank and what they say on the issue. That would be the BIS (Bank for International Settlements) who sets the policy for all Central Banks, including our Federal Reserve. Spend a few hours on their site (www.bis.org) and see just how uneasy you feel about the dollar and the Federal Reserve from the eyes of those who set their polices.
The Federal Reserve is kind of a joke to me because of it’s name. There is nothing Federal about it and there sure as hell are no reserves. It’s private no different then any business and loans money to the US government at interest. It’s the core reason why we are in this financial crisis. There is a good reason why they stopped the M-3 money index on March 23, 2006. They don’t have to show the amount of dollars in circulation and don’t have to show going forward fully what they are printing. You know what that means to you? Hyper-Inflation.
I have tried to get people excited about Ron Paul because of this very reason and some people took towards it. Is it enough? No as Obama is going to walk in to office. He is the only person willing to admit what is going on and directly address it. He comes from the Austrian School of Economics. The simple way to explain that is your currency needs to be back by something. Is that a gold standard? Maybe, at least partially. Hell, we had that until George Shultz and Paul Volcker decided to help destroy the Breton-Woods system in 1971. Nobody else though, right or left addresses monetary policy at all. It’s going to cost us both figuratively and literally.
I guess that’s it. I think I made my points. Not much else to say but many of you need to wake the hell up about what is going on without economy and address it accordingly. It’s not a political issue as much as it is daily livelihood issue. All indications point to this whole system falling at some point without a correction to it. This is the topic that will start wars and cause riots one day if people can’t afford to eat. It needs to be addressed and it’s not properly being done enough people. Please carefully read this and look at what I am saying. I am only speaking on this because it needs to be a topic among people in a very serious manner and I hope to start it among our small corner of the web on The Paracast.
Thanks for reading all of this.
