WarrenJ Posted October 21, 2008 Report Share Posted October 21, 2008 On the bright side, after his first four-year term Senator Obama would have TWICE as much experience in politics at the national level as he has now. Maybe thrice? Or more? :D 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
MAC Posted October 23, 2008 Report Share Posted October 23, 2008 Actually, I don't mind stepping on the toes of the taxpayers since I know I'm not running for any office. The cause and blame for the financial meltdown belongs with CONSUMERS. It is CONSUMERS who choose to sign up for the credit cards, they choose to sign up for the mortgages, they choose to sign up with investment firms. Consumers choose how to spend their money. (Notice, I call them consumers, not citizens.) I know that the liberal media wants everyone to believe that they are such stupid sheep that they actually fall for all the advertising on TV and that they actually do covet their neighbors goods but....oh wait...they are stupid sheep.... The blame belongs to those that advocated high-risk loans to low-income consumers. That would put most of the blame on Democrats, including Frank, Dodd and Schumer. Also, when a person walks into a bank and the bank says don't worry the prime rate isn't going to rise much, then the bank is also partly to blame. Moreover, about 5 million homes were sold to illegal aliens. In other words, real estate agents and banks were allowing homes to be sold to people who shouldn't be in the country in the first place. Also, illegals were more likely to walk away from a mortgage and thus were among the very high risk consumers that would likely default. There was no income verification and no credit checks. Thus, lenders were playing Russian roulette with not only their own financial well being, but also the well being of the economy. Moreover, in 2003, the Bush administration advocated extensive oversight of Fannie Mae and Freddie Mac. The Bush administration also sought passage of an oversight bill, which was introduced through 20 Republicans. The bill was essentially given lip service by Democrats who were not serious about reigning in Fannie's and Freddie's abusive lending practices. The bill was rejected by Banking Committee Democrats along party lines. The bill stalled and never made it to the Senate floor. The same thing happened in 2005 when McCain along with other Republicans introduced another regulatory bill for Fannie and Freddie. Again, the same Democrats along with lobbyist and officials of Fannie and Freddie gave lip service to the bill, which ultimately stalled. Bottom line is that both Democrats and Republicans share the blame for the financial meltdown. However, Democrats are more culpable than Republicans due to their partisan opposition to a number of attempts to introduce legislation on the floor of the Senate to reign in Fannie and Freddie. Now, the other aspect of the falling economy is the increase in oil prices, which were due to a problem with the supply given the high worldwide demand. This is also the fault of Democrats who have opposed exploitation of U.S. oil reserves for decades. In fact, even when oil prices were at there highest, Nancy Pelosi was still opposing drilling. The recent drop in oil prices are due to the weakened state of the economy. Link to comment Share on other sites More sharing options...
WarrenJ Posted October 25, 2008 Report Share Posted October 25, 2008 Closely related is this interesting report on Bretton Woods II: http://www.stratfor.com/weekly/20081020_un...retton_woods_ii Regards, Warren 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Texas Jim Posted October 26, 2008 Report Share Posted October 26, 2008 Closely related is this interesting report on Bretton Woods II: http://www.stratfor.com/weekly/20081020_un...retton_woods_ii Regards, Warren Interesting reading... If that is correct... The next President could basically give away our freedom, and all control over our own economy to the Europeans. That would be known as NOT A GOOD THING. One step (or more) towards a ONE WORLD GOVERNMENT. where a small group of elitists control EVERYTHING. Link to comment Share on other sites More sharing options...
BodybyFisher Posted October 26, 2008 Report Share Posted October 26, 2008 I recently read that we are LEASING our highways to FOREIGN interests, they will place TOLL BOOTHS and they are responsible for collecting tolls and maintenance. Lets sell America down the toilet. Who the hell is minding the store????? How is THIS more economical than doing it ourselves? The immediate gratification of CASH, is the ONLY reason. http://www.washingtonpost.com/wp-dyn/conte...0901775_pf.html Pre-1995 - DTC codes OBD1 >> 1996 and newer - DTC codes OBD2 >> https://www.obd-codes.com/trouble_codes/gm/obd_codes.htm How to check for codes Caddyinfo How To Technical Archive >> http://www.caddyinfo.com/wordpress/cadillac-how-to-faq/ Cadillac History & Specifications Year by Year http://www.motorera.com/cadillac/index.htm Link to comment Share on other sites More sharing options...
WarrenJ Posted October 27, 2008 Report Share Posted October 27, 2008 The next President could basically give away our freedom, and all control over our own economy to the Europeans. Gee, ya think? 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted October 27, 2008 Report Share Posted October 27, 2008 I recently read that we are LEASING our highways to FOREIGN interests, they will place TOLL BOOTHS and they are responsible for collecting tolls and maintenance. Lets sell America down the toilet. Who the hell is minding the store????? How is THIS more economical than doing it ourselves? The immediate gratification of CASH, is the ONLY reason. http://www.washingtonpost.com/wp-dyn/conte...0901775_pf.html Here in New York, not unlike other large states, we are increasingly becoming strapped for cash. I'm left to wonder when the Statue of Liberty might be put up for sale. Of course, the Brooklyn Bridge has always been up for sale along with that swampland in Florida. Regards, Warren 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted October 27, 2008 Report Share Posted October 27, 2008 I recently read that we are LEASING our highways to FOREIGN interests, they will place TOLL BOOTHS and they are responsible for collecting tolls and maintenance. Lets sell America down the toilet. Who the hell is minding the store????? How is THIS more economical than doing it ourselves? The immediate gratification of CASH, is the ONLY reason. http://www.washingtonpost.com/wp-dyn/conte...0901775_pf.html If Highways were privatized I doubt they'd receive huge amounts of government handouts for road improvement etc. They'd likely install toll booths every 5 miles. Is that what anyone wants? This is one case where government is the lesser of evils. New York's Robert Moses didn't part any seas, but he was nearly a saint in an S.O.B. kind a way. Those of youse not New Yawkers could just Google on Robert Moses. What a guy! What accomplishments! Regards, Warren 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted October 30, 2008 Report Share Posted October 30, 2008 With apologies to my Democrat friends: http://i7.photobucket.com/albums/y299/WBucket/Halloween.jpg 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted November 4, 2008 Report Share Posted November 4, 2008 From a financial newsletter I subscribe to: “Major U.S. banks are using their bailout billions to prop up dividends,” reports our intern cum research maven Jim Nelson. “Bank of America, JPMorgan Chase, Citigroup and the rest of the crew are starting to cash in their government bailout checks. And in a ‘you gotta be kidding me’ moment, we find out that they aren’t using all of that money to repair bad assets or offer more loans. Instead, these banks are continuing their dividend payments, which otherwise would probably have been cut. “Wells Fargo, one of the few banks to swim through this mess with little problems, is using $4.4 billion of its $25 billion bailout to hand over to shareholders. Not loosen the credit market, not invest in small businesses or financially sound homeowner hopefuls… Nope, to keep their shareholders” “News of these schemes is finally hitting Washington, and the likes of Sen. Chuck Schumer are speaking out. But it’s too late. These dividend plans are already in effect, and our money is lost… " *************************************** Thanks for reading the 5 Min. Forecast! We greatly value your comments and questions. Please send all feedback to: 5minforecast@agorafinancial.com 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
rek Posted November 4, 2008 Report Share Posted November 4, 2008 News of these schemes is finally hitting Washington... you gotta be kidding me’ moment... As though, all the King's horses and all the King's men are unaware of the Fiat Paper monetary policy. The policy of monetary manipulations to create wealth out of thin air. In order to seek the comforts of wealth with the least amount of effort, the "Shareholders" MUST receive dividends. Imaginary dividends...Every dollar created dilutes the value of existing dollars in circulation. rek Link to comment Share on other sites More sharing options...
WarrenJ Posted November 7, 2008 Report Share Posted November 7, 2008 In order to seek the comforts of wealth with the least amount of effort, the "Shareholders" MUST receive dividends. Imaginary dividends...Every dollar created dilutes the value of existing dollars in circulation. Can you spell G-O-L-D? I've not been a big fan of owning gold since about 1973ish, but I've been headed that way for weeks now. Interestingly, collectible gold coins recently have suffered a nearly historic loss of "Collector Premium" as a ratio to its intrinsic melt down value. If you think it's just a teensy weensy possibility that your government might be tempted/required to inflate our currency in order to pay off our incredible debt with cheaper dollars, you might want to at least look into collectible gold coins. Failing that, have a serious look at: GLD. Each share of GLD is worth exactly one-tenth of an ounce of gold. Buy ten shares of GLD and you own one ounce of gold. It's that simple. I urge you to investigate. Regards, Warren 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
rek Posted November 7, 2008 Report Share Posted November 7, 2008 Yes, Gold works for me. I started "Playing" with it in the early 80's...Custom jewelry (lost wax casting) repairs... Last Summer, when G was at 936/oz I traded over 2 oz of "Scrap" (dust, sprues, chunks) for cash. That very day, the A/C in my Eldo expired, consuming most of the cash... A pound or two, on hand, is nice liquid...No tracks. rek Link to comment Share on other sites More sharing options...
WarrenJ Posted November 9, 2008 Report Share Posted November 9, 2008 A reader's comment about an article describing AIG borrowing another $21 billion: "Derivatives, the final financial frontier. These are the voyages of the TARP Enterprise. It’s open ended mission: to explore strange new financial weapons of mass destruction, to seek out new write downs and new financial black holes, to boldly bail where no free market capitalist has bailed before. Captain Hank at Planet AIG: “Beam me up Ben, there’s no intelligent life here.” First Officer Bernanke: “Curious Captain, these AIG managers seem to think they can raise $130 Billion Federation Credits through a “fire sale” (is that what you call it) in the worst market for financial assets ever seen in this galaxy quadrant. Engineer Cox: Perhaps we should’nt be tampering with these delicate instruments." A.I.G. Borrows Another $20.9 Billion From the Fed: [Comment #15] http://dealbook.blogs.nytimes.com/2008/10/...ml?ref=business 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
rek Posted November 9, 2008 Report Share Posted November 9, 2008 Derivatives.....The Empire's "New Clothes" rek Link to comment Share on other sites More sharing options...
WarrenJ Posted November 10, 2008 Report Share Posted November 10, 2008 Derivatives.....The Empire's "New Clothes" After the last several weeks those would be "Old Clothes." And translucent ones at best. Quick, close your eyes! They don't look good naked. 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
BodybyFisher Posted November 10, 2008 Report Share Posted November 10, 2008 You gotta love these so called "B" school geniuses http://www.marketwatch.com/news/story/deri...D9124B59D436%7D Pre-1995 - DTC codes OBD1 >> 1996 and newer - DTC codes OBD2 >> https://www.obd-codes.com/trouble_codes/gm/obd_codes.htm How to check for codes Caddyinfo How To Technical Archive >> http://www.caddyinfo.com/wordpress/cadillac-how-to-faq/ Cadillac History & Specifications Year by Year http://www.motorera.com/cadillac/index.htm Link to comment Share on other sites More sharing options...
WarrenJ Posted November 11, 2008 Report Share Posted November 11, 2008 The Headline of the article referenced above by BbF: Derivatives the new 'ticking bomb' Buffett and Gross warn: $516 Trillion Bubble is a Disaster Waiting to Happen Just in case BbF didn't get your attention . . . 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 the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
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