New Warning predicts "Sundown in America"

reply to post by RadicalRebel


Well, I started a piddly-arsed thread as a tangent to your excellent one here; have a look at it.

First, a Manhattan judge refuses Citigroup's 'settlement' deal on grounds that the biggest players aren't paying anything of their own,
and the second post shows how the new Pope might close down the Vatican bank. He wants to make sure the amassed wealth actually goes to 'the poor.' Now, I'm no Catholic, but this judge, and this Pope, seem to have their heads on straight, if you ask me.

reply to post by RadicalRebel


I didn't read every post, so someone may have already provided a link. At least the media is picking it up.

finance.yahoo.com...

A moment of your time please.
--amendments to give the president and members of Congress a single six-year term, with no re-election..--
While it sounds good on paper,I would prefer term limits of 2 for the Executive and 2 terms of 4 years max for the Legislative.,including members of their families.Sorry Hillary,sorry Jeb,Sorry George.

When someone banters out a comment like a new Amendments to the Constitution,which is what we are talking about here,I get very nervous.This can,and if allowed too happen WILL result in a new Constitutional Convention.
At the risk of sounding paranoid,that is the worst thing that can be done to us.

We have Patriot Act uno and dos,we have laws giving DHS unheard of powers,we have a TSA that in my opinion is in violation of the Interstate Commerce Clause just by its existence.We are no longer secure in our persons or possessions,we have random traffic checkpoints based on no probable cause,wiretaps and internet monitoring of everyone.The list goes on..

And now,we are moving towards a realignment of the only defense we have left. It should be plain as day to any serious observer that the end goal of this engineered financial catastrophe is greater centralized power.The end game is an unarmed populace used to government intrusion and surveillance ,with no legal remedy what so ever.

We will go from being free people to damn near subjects of the government.Many are already there. We are approaching a Brave New World Order.Most of us will be relegated to the role of serfs as the future unfolds.The Imperators of the future do not want competition,nor unwashed masses who can bite.

Why am I not surprised that this is in the NYT?
two sides,one coin.And we do not own the coin.

Originally posted by CB328

What about those 80 years of non-doom?

Krugman is right, conservatives are always screaming that the end is near- this decade it's QE, last decade it was going to be hyperinflation, before that it was Nato taking over the country with black helicopters.

Yes America has serious problems, but it's not because of the government, and the country isn't going to implode without some large, manufactured catastrophe.

What is probably going to happen is that economic classes are going to become permanent social classes- people who are poor today are not going to have any chance of moving up in America, and neither will their children.

This kind of thinking cracks me up. Guys like David Stockman warned everyone in 2007, and the liberals kept saying there was nothing to worry about. Now the problem is 10 times worse, and the liberals are as blind as ever. For that matter virtually all the same economists that predicted the 2008 collapse are saying it will be far worse this time. Anyone foolish enough not to listen this time will get what they deserve. You have to wonder what it takes to make some people see the obvious? An economic holocaust?

www.bloomberg.com...

Michael Lombardi was another that called the 2008 crash well in advance. All of these forecasts are well documented.

www.profitconfidential.com...

Peter Schiff also called 2008 correctly, and well in advance.

www.forbes.com...

Mike Larson and Martin Weiss were directly responsible for getting me out of the market in September of 2008.

www.moneyandmarkets.com...

Nouriel Roubini also called the last crash.

www.telegraph.co.uk...

And then of course Marc Faber...

www.shtfplan.com...

www.moneynews.com...

I don't know why everyone makes this collapse so complicated. When we were five years into two wars, I knew a collapse was coming because no one was paying for them. It really does not take a genius or economist to put it together. The cost of wars so far SIX TRILLION DOLLARS and still counting.

You might as well get prepared. The only people who will fare the final collapse are the wealthy who have been hoarding their wealth for this day. If any of you are in that group, lucky you. Maybe, if you can find a safe place.

Originally posted by BlackSnake

When someone banters out a comment like a new Amendments to the Constitution,which is what we are talking about here,I get very nervous.This can,and if allowed too happen WILL result in a new Constitutional Convention.
At the risk of sounding paranoid,that is the worst thing that can be done to us.

New amendments are not a means to constitutional convention, that seems an unfounded fear of change and progression. New laws, executive orders and changes to old laws are constantly being made within our society, how many of them have helped you directly?

Unfortunately, "We the People" no longer get to vote on these changes to our society, they are created in secret and forced upon us by executive order or political extortion. Bought and payed for by corporate gangs, pushed through congress by corrupted officials who piggy back them on education funding bills and public works projects.

Constitutional convention can be a tricky process, espescially when you concider the amount of political division that has been achieved throughout society. It is however, in my opinion, better that most of the alternatives.
Our founding fathers gave us this constitutional right to have control over our futures and left us a means of doing it "legally" and without bloodshed.

You may be surprised by this but, constitutional convention has been something i have spoken for and advocated for many years (since shortly after the onset of the Iraq invasion in 2003), so for me to see these ideas in such a highly publicized form is a step in the right direction.

Ideas about term limits are good though they still dont address corruption.
On another note, i personally beleive that there should be no presidential campaigns.
In my opinion any person who actively seeks the position and is willing to spend billions to get there, is exactly the person i DONT want in that position. The president candidates should be selected by the people and voted for by the people.

In ANY case, changes DO need to be made. We can no longer afford to pay for our "representatives" lifestyles, vacations and golf games. We pay them to WORK and get a job done which they barely do.

Originally posted by rangersdad
reply to post by EvillerBob

 

Well if they raised the minimum wage on a yearly basis as prices rise, it would be around $14 by now....instead of half of that.

And then prices would have risen faster, and that $14 dollars would have the same purchasing power as $7 has now.

You do realise that prices and wages are linked, don't you? If you artificially change one, the other will change to return the system to the same equilibirum point - except now all you've done is made everything more expensive, penalising the people who cannot work (at all, or full time at least) so suffer from the downsides of the price increase without gaining the benefit of the wage increase.

If you want to do something productive, identify the conditions that allow the market to find an optimal equilibrium point.

Originally posted by wildtimes
reply to post by RadicalRebel

 

less regulation of the banks, not more legislation. No more bailouts, no more "to big to fail" bs, if they fail then that is the process of the free market, and tying the "invisible hand" behind the governments back obviously hasnt helped.

This is what the FDIC plan is about, that trillium posted.
When this happens, it will not hit the month-to-month working people who are not in Wall Street. The plan, devised by the Bank of England and the FDIC jointly, addresses specific solutions to how to dismantle the hugest banks when they fail - by a single point of entry top-tier intervention. The aim is to keep the infrastructure going, so that critical services and daily systemic transactions can occur as usual,

BUT MEANWHILE - the senior managament of the failed entities will be immediately removed as well as boards of directors AND HELD ACCOUNTABLE, their assets/liabilities are at risk, along with their top shareholders - not us little guys. It shouldn't affect us at all, and even the major banks that are being taken over for complete restructuring will still operate their subsidiaries as usual.

The strategy is supposed to have begun already, the first half of this year is the deadline for part one of the plan being set up - and the end of the year for ACTION.

The main point of their strategy is that TAXPAYERS WILL NOT TAKE THE BURDEN. It is the the culpable management and the filthy rich who have used the filthy system to get that way that will finally pay. There will be no tax-payer bailout at all - the shareholders and entities that house them will take the fall.

It should actually make things better, and while I'm no economist (I've been trying to learn about it for 2 years now), I think people who keep shouting that "the government is too big", and "keep the government out of it", are missing the entire point. It isn't about the GOVERNMENT spending, or regulation. Too little regulation was what resulted in the insolvency of Wall Street. It's not REAL - it's unsecured digits and mathematics that, in the end, mean NOTHING. Just paper. So, they want to get rid of the meaningless "fiat equity" by writing it down to actual ASSETS that are liquid, thus getting rid of the "investment profit" which doesn't really exist.

You guys really should read the post trillium added on page 1 - this is being handled outside of the government, by the FDIC and the Bank of England, JOINTLY, and the government had nothing to do with it except for the justice system holding responsible the culprits - really holding them accountable, and stripping them of their wealth AND their jobs - and replacing them, while having "bridge banks" continue day-to-day operations while the top level parent companies are gutted, autopsied, and then rebuilt.

It's okay, and it will BE OKAY - as long as you're not Jamie Dimon or a huge Wall Street player earning $3000.00/hour in a fake gambling casino with numbers on your "screen" that really mean NOTHING.

Please, guys, stop with the partisan mudslinging. We are talking here about CRIMINAL RACKETEERING and shady bank dealings - NOT THE GOVERNMENT in this situation, not Dems or Libs, not Fox vs MSNBC. We're talking about STOPPING THE CRIME by stopping the criminals and declaring that The Emperor Has No Clothes once and for all.

I'm actually optimistic about it!

Thank S & F but it on page 2 but here it is again
www.fdic.gov...

The article has a lot of good points, but it ignores the whole Mises economics contributions to this mess.

De-regulation is what all the free market people were calling for, and it is de-regulation that created this mess.

The markets are doomed for another bust, but that will probably be a good thing, except for those people with lots of money in the investment markets.

It is a step in the right direction for the free market supporters to begin to admit what a terrible idea de-regulation was.

I am all for term limit for congress, we already have adequate term limits in place for the president, we just need them for congress, and laws that stop lobbyist, and former congressional members from becoming lobbyists.

Most of the changes that turned the stock market into a gambling casino we made during the eighties, and all of that needs to be reversed.

Usury laws that were eliminated at the end of Carter's admin need to be re-instated.

Legitimate stats on inflation and unemployment need to be brought back.

Savings interest rates need to be tied to legitimate inflation numbers.

Large amounts of debt need to be forgiven, or better yet, let wage inflation turn big debts into little debts,

Create a new monetary system for U.S. currency, that is not the global currency, and leave the fed res currency as the global currency to survive on its own.

Maybe a law that ties all those hefty exec bonuses to large tax penalties when short term gains turn into big losses.

It is good to see the free market people start to recognize that markets are not self regulating, any more than a steam engine.