Entries Tagged as 'Government'
There’s No Connection To The Little Guy
Nancy Pelosi flies to Hawaii and spends $10,000 a night for accommodations. The tax payers read that the Obama vacation will cost $4,000,000. Now when the nation is enduring unemployment reaching 20%, if you include those who have stopped looking for a job and those working part-time who want to work full-time, and an economy that is on the abyss of a depression, we see Michelle flaunting a $2,000 sundress!
“Let them eat cake!”
Listen To Roubini Global Economics’ Megan Greene
CMC Market’s Michael Hewson interviews Roubini Global Economics’ Megan Greene. I was struck by one thing Greene said about the crisis in Europe, “In order to save the physical union (the EURO), Germany would have to agree to fiscal transfers to weaker countries forever.” You can see the interview at Zero Hedge,
Agreeing to unlimited fiscal transfers is unthinkable, but that’s what we’ve been practicing in the U.S. with our entitlement programs for some time with no end in sight. Now we are told that 50% of the people in the U.S. are living in poverty and 50% of the people pay only 5% of the taxes collected. The needs grow exponentially, until everyone is impoverished or the providers pull a John Galt!
The only thing smart for any of us to do is buy gold and silver for protection from this madness.
Margaret Thatcher Was Very Right!
“60 Minutes” had an interview with Meryl Streep who has a movie coming out soon in which she plays Margaret Thatcher. Streep says she respects the woman and her strength, but does not support her conservative policies.
Mish Shedlock has a video today of Margaret Thatcher speaking before Parliament and in one stretch oipines on the ECB. She says,
“…there would be no European central bank accountable to no one, least of all national Parliaments. The point of that kind of Europe with a central bank is no democracy, taking powers away from every single Parliament, and having a single currency, a monetary policy and interest rates which take all political power away from us.
As my right hon. Friend the Member for Blaby (Mr. Lawson ) said in his first speech after the proposal for a single currency was made, a single currency is about the politics of Europe, it is about a federal Europe by the back door.”
Churchill warned Parliament about the coming war and Thatcher is clearly right about the ECB and loss of soverign freedom.
10-Year Bond Yield
A lot’s changed since the day I was a registered stockbroker in 1968. When I bought my first house using Benjamin Franklin S&L, the interest rate was 7% and I made sure that I had the ability to refinance if rates went back to their norms. Then inflation under Pres. Carter got out of hand and interest rates went through the roof. Now we are back to levels of the 1940’s.
Where to from here? My guess is our debt crisis will lead to higher interest rates after the world deals with Europe and Japan. Then just the interest cost here in the U.S. will eat us alive. We will either default on our debts or inflate them out of existence.
The one hope is that we elect politicians who brave the wrath of voters and get us to take our medicine, however I don’t see anyone with big enough cojones!
Who Is Leo Gerard?
Starting with the tip from The Wall Street Insider, the Ulsterman has delivered chilling information about the top influencer of Pres. Barack Obama. The man is named Leo Gerard. Educate yourself on the left-leaning socialist labor leader that has Obama’s ear:
Order And Madness
Ever since I watched Chris Martenson, economic analyst at chrismartenson.com and author of ‘The Crash Course’, explain why he thinks that the coming 20 years are going to look completely unlike the last 20 years, I can’t stop thinking about his examples. You can watch it at Zero Hedge.
Then today I watched a hour with Kyle Bass explain why he is pessimistic about Europe, Japan and the U.S. and he references an article in Foreign Affairs by Nassim Taleb (and Mark Blyth).
When I say to my wife or friends that Silver has a huge upside, maybe $350 to $1,000, the inevitable question is when? Martenson says in an exponential system things come faster and faster and Taleb says a complex system that has been made stable by governments or politicians, for example, becomes extremely fragile and leads to black swans,
I just don’t think we have years and years, but maybe a year to three at the most. Why should we squander our precious resources on things Blue Ray players, iPads, and Kindles, when buying Silver and Gold coins makes more sense?
Biden Calls Corzine
Biden says after the new regime took over they talked about a “Bank Holiday.” That’s when they close the banks, devalue the currency, and then let you have some of that new currency. Then he says they called Jon Corzine, formerly of Goldman Sachs, for financial advice. Financial advice from a man who just ran MF Global into the ground and stole over $1.2 billion of investors money.
Now Gerald Celente tells us to expect a “Bank Holiday” in the first quarter of 2012. You can listen to Celente at King World News.
Ann Barnhardt: The Entire Futures/Options Market Has Been Destroyed by the MF Global Collapse
Called :… a true American, frighteningly (to some) intelligent, seriously brave, unyieldingly strong and not to be messed with woman from Colorado.” The venerable Ann Barnhardt, lashes out at the system that has sacked the rule of law when MF Global failed.
