Daily Digest

Daily Digest - December 17

Thursday, December 17, 2009, 11:47 AM
  • Moody’s Warns Of 'Social Unrest’ As Sovereign Debt Spirals
  • Gulf petro-powers to launch currency in latest threat to dollar hegemony
  • Extreme Speculations
  • Rosenberg: We've Barely Begun The Deleveraging Process
  • The Greatest Outpouring Of Money And Credit In History
  • Full Circle Of Government Debt Default
  • Gold: On The Flip Side
  • US National Debt Currently Exceeds National Debt Limit
  • Commercial-Mortgage Debt Loophole In Financial Reform Bill
  • Is Your Nest Egg Safe Again?
  • Canadians Get A New Way To Buy Gold
  • Health Care Bill Is A Bailout For The Insurance Industry
  • President Says Health Care Bill Will Pass
  • Senator Joe Lieberman: The Million Dollar Man
  • 2010 Will Bring More Stimulus
  • Ron Paul Reacts To Bernanke As 'Time' Person Of The Year
  • Unemployment To Remain High Through 2014
  • Huge Spike In Homeless Teen Runaways
  • Crooked Officials And Banksters Are America's #1 Criminal Threat: FBI
  • Goldman Execs Say Ethos Has Faded Under Blankfein's Leadership
  • Ratio Of CEOs' Compensation Compared To Average Worker Is 1,723 To 1
  • Executives Who Gained Or Lost The Most: The Winners And Losers
  • Dumbest Moments In Business 2009
  • Tiger Woods Leaves PGA In Economic Limbo
  • Miami Herald Now Seeking Donations
  • Citizens Fighting Back Against Government In Eminent Domain Cases
  • Boeing Dreamliner Could Be Game-Changer For Airline Industry
  • Iran Missile Test Draws Western Condemnation

Economy

Moody’s Warns Of 'Social Unrest’ As Sovereign Debt Spirals (SolidSwede, pinecarr)

Britain and other countries with fast-rising government debts must steel themselves for a year in which “social and political cohesiveness” is tested, Moody’s warned.

Gulf petro-powers to launch currency in latest threat to dollar hegemony (SolidSwede, pinecarr)

The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad Caliphate.

Extreme Speculations (pinecarr)

The main reason for my recurring thoughts that silver trading may be terminated on the COMEX someday is because that exchange is at the heart of the silver manipulation. If we are closer than ever to witnessing the end of the long-term silver manipulation, as I believe, it must mean an end the extreme concentration on the short side of COMEX silver futures. But the concentrated short position in COMEX silver futures is so extreme, that it is hard to imagine how it can be resolved in an orderly manner.

Rosenberg: We've Barely Begun The Deleveraging Process (Chart) (Samuel A.)

Either way, this process of debt elimination is ongoing and will likely last for years. Along the way we will see the federal government test the limits of its balance sheet to smooth the transition and it will be long-term Treasury yields that will determine when enough is enough in terms of Washington’s fiscal largesse.

Just as the Canadian bond market delivered the same message to the Chrétien/Martin government in the mid-1990s that ushered in a multi-year forced era of budgetary restraint and anemic domestic demand. Until the U.S. gets its balance sheet under control, and monetization of the debt is likely one key strategy, the trend in the gold price will remain in one direction and that is up.

The Greatest Outpouring Of Money And Credit In History (hucklejohn)

In the pipeline is $12.7 trillion created by our government and the Fed to keep our economy and financial system from collapsing. There is absolutely no way it can be withdrawn. The US Inspector General says we are on the hook for potential losses of $23.7 trillion. These kind of problems and the inflation they caused by the Fed adding more fuel to the fire will in and of itself force more investors into the arms of gold and silver.

Full Circle Of Government Debt Default (kelvinator)

The second bang from Dubai is the most important destabilizing debt event in 14 months, but minimized in the United States. The US press hardly even mentions the downgrades across European on sovereign debt. The US press actually boasts that the financial markets are handling the Dubai situation very well, and might be past it already. Such minimization is a risky characterization.The second bang signals the beginning of sovereign debt defaults, several of them, and the reshaping of Europe, both with the European Union and the Euro currency.

Gold: On The Flip Side (SolidSwede)

All things for all people, everywhere. Or so says the motto of Harrods, the London department store. Except in jewellery, “all things” until recently did not include gold. But the store, heartened by the current rally in the yellow metal, now sells bullion. “Sales are ahead of our expectations,” says Chris Hall, Harrods’ head of gold, as he shows a collection that ranges from tiny wafers of 5g, costing about $200, to a central bank-style 400 troy ounce bar valued at $480,000 (€329,000, £296,000). “People are buying several at the same time,” he says of a bar costing about $38,500. “Not one is coming back to sell."

US National Debt Currently Exceeds National Debt Limit (M.W.)

The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion. A Treasury official said the department has some "extraordinary accounting tools" it can use to give the government breathing room. Were it not for those "tools," the Government would not have the statutory authority to borrow any more money. It might block issuance of Social Security checks and require a shutdown of some parts of the federal government.

Commercial-Mortgage Debt Loophole In Financial Reform Bill (M.W.)

The legislation would allow issuers of bundled debt to pass off all the risk to third parties. The bill, which requires banks to retain 5% of the credit risk on loans being sold as bonds, has an exemption that applies if an outside investor buying the securities most susceptible to losses “provides due diligence on all individual loans.” The delinquency rate on commercial mortgages bundled and sold as bonds is at 4.47 percent, a 29-fold increase over the low of 0.22 percent in July 2007.

Is Your Nest Egg Safe Again? (M.W.)

The stock market's rebound may have you thinking you're once again ready for retirement. Think again.

Canadians Get A New Way To Buy Gold (M.W.)

Access to gold bullion continues to expand for Canadian investors, after Claymore Investments Inc. announced it will convert the closed-end Claymore Gold Bullion Trust into an open-end exchange traded fund in January. It's a welcome trend north of the border, as more people have turned their focus to the yellow metal as a cash alternative to the weak U.S. dollar and safe haven from inflation that is expected to grow in the near years to come.

Health Care Bill Is A Bailout For The Insurance Industry (M.W.)

"This is a bigger bailout for the insurance industry than AIG," former Democratic National Committee chairman and medical doctor Howard Dean told George Stephanopoulos today. "A very small number of people are going to get any insurance at all, until 2014, if the bill works. "This is an insurance company's dream."

President Says Health Care Bill Will Pass (Video) (M.W.)

In an interview with Charles Gibson, President Obama pushed back against critics, including Howard Dean, who have said that the health care bill in the Senate is fatally flawed and should be scrapped altogether.

Senator Joe Lieberman: The Million Dollar Man (M.W.)

First, Senator Joseph Lieberman rejected the public health care option. Then he threatened to torpedo the entire health care reform bill if it allowed people over 55 to buy Medicare plans.The aim of that idea, like the public option, is to provide more choice for consumers and more competition for the private insurance industry. And that industry has been very, very good to him. Mr. Lieberman has taken more than $1 million from the insurance industry over his Senate career.

2010 Will Bring More Stimulus (M.W.)

After predicting in his 2003 book "The Dollar Crisis" that the U.S. property bubble would trigger a global recession, Richard Duncan's new book argues that governments will have to keep stimulating their economies because U.S. demand for cheap goods will not return. Duncan is part of a group of economists like Marc Faber, Nouriel Roubini and James Grant, who believe the financial crisis is a symptom of something structurally wrong with the US economy that will not be solved by the end of recession.

Ron Paul Reacts To Bernanke As 'Time' Person Of The Year (M.W.)

Ben Bernanke is the most powerful man in the world because he controls the supply of money which is the reserve currency of the world. He can create a trillion dollars in secret without any monitoring by Congress. So there’s no transparency and I think he is more powerful than the President.

Unemployment To Remain High Through 2014 (M.W.)

U.S. unemployment is likely to remain high for years to come, as much as 7 or 8 percent even into 2014. "The average American will not be better off in five years—unemployment will remain high and wage growth will continue to be flat," says George Soros, who forecast an "age of wealth destruction" four months before the crisis hit.

Huge Spike In Homeless Teen Runaways (Video) (M.W.)

As the recession takes a toll on American families, economic and emotional pressures are behind a surge in teenage runaways. More than 1.5 million teenagers run away or are kicked out of their homes every year. They flee one set of problems and find others. "We need jobs, we need ways to earn money. We need to have a house or an apartment or a place to call home.".

Crooked Officials And Banksters Are America's #1 Criminal Threat: FBI (M.W.)

Corruption, whether in the form of crooked officials, financial fraudsters or even philandering sports stars, is tearing at the fabric of U.S. society and is the country's Number One criminal threat, a senior FBI agent said on Tuesday.

Goldman Execs Say Ethos Has Faded Under Blankfein's Leadership (M.W.)

Some current and former executives of Goldman Sachs are convinced that, under the leadership of Lloyd Blankfein, it now puts quick profits above all else. Blankfein is now presiding over one of the richest periods in the bank’s 140-year history. Current and former partners say that he has fundamentally changed the way Goldman views its customers and the broader marketplace.

Ratio Of CEOs' Compensation Compared To Average Worker Is 1,723 To 1 (M.W.)

The Middle Class Collapse: In 1970 the ratio of the compensation of the top 100 CEOs compared to the average production worker was 45 to 1. By 2006 it was an astounding 1,723 to one! We didn't get there by accident. According to economic theory, that jump should reflect an enormous increase in their human capital. What value was really produced on Wall Street as our bailouts prop up the entire financial sector? Are bankers actually "earning" anything at all?

Executives Who Gained Or Lost The Most: The Winners And Losers (M.W.)

Some financiers and policymakers have seen their stars rise as the global economy has fallen. Others have become pariahs, subject to the scorn of their peers and the general public, and are blamed with bringing down the financial system. Here are the five biggest winners and five biggest losers of the financial crisis.

Dumbest Moments In Business 2009 (M.W.)

Loudmouth CEOs, islands in the desert and bringing dead celebrities back to life. Our annual list of the business world's bonehead plays marches on.

Tiger Woods Leaves PGA In Economic Limbo (M.W.)

The "Tiger Effect" means more revenue from tournaments, and broadcasts. Even if he returns, will the first billion dollar athlete retain his Midas Touch?

Miami Herald Now Seeking Donations (M.W.)

The Miami Herald has raised subscription prices, cut the size of the newspaper, fired hundreds of employees, and even charged extra for the weekly TV section in an effort to weather the crises of a terrible economy, increased costs, and declining readership. Now, the newspaper's website has taken a new step to help cover costs; they are asking readers to donate money to The Herald to help support journalistic efforts.

Citizens Fighting Back Against Government In Eminent Domain Cases (M.W.)

As much as 40% of all land in the US is already under some form of government control or ownership--800 million to 900 million acres out of America's total 2.2 billion acres. The government now appears poised to wield greater control over private property on a number of front Outraged over a series of recent actions by government, citizens are fighting back.

Boeing Dreamliner Could Be Game-Changer For Airline Industry (M.W.)

The Dreamliner, which completed its first test flight Tuesday, is being touted as a “game changer” because it's a smaller, more fuel-efficient jet capable of travelling the longer distances traditionally flown by larger planes. One thing that would help ease the airlines' financial woes is a revival of long-haul traffic, especially in higher-margin business class.

Iran Missile Test Draws Western Condemnation (M.W.)

The US said Wednesday's test launch of a Sejil 2 missile, with a reported range that would put the Jewish state and U.S. Gulf bases within reach, would be looked upon seriously by the world. Iranian Defence Minister Vahidi said the missile cannot be destroyed by anti-missile systems due to its high velocity and anti-radar capabilities. A senior Obama administration official said senior diplomats from the major powers negotiating with Iran over its nuclear program were expected to hold a conference call to discuss the next steps.

26 Comments

saxplayer00o1's picture
saxplayer00o1
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Re: Daily Digest - December 17

"The government is considering changing a law that requires 90 percent of the assets of the Petroleum Fund to be invested in U.S. Treasuries, which currently make up all of the fund.

"Our savings entrusted to the U.S. Treasury could be literally wiped out, throwing our people into even greater poverty and desperation," said President Jose Ramos-Horta in a speech in Singapore, pointing to the growing U.S. deficit and weakening U.S. dollar as reasons for the move."

"The National Inflation Association - http://inflation.us today named Federal Reserve Chairman Ben Bernanke 'Villain of the Year 2009'. Although the mainstream media is widely praising Bernanke for preventing the next Great Depression, all Bernanke has done is create unprecedented amounts of inflation in unprecedented ways. When it costs $20 for a gallon of milk in a few years, Americans will have nobody to thank more than Bernanke. "

"Chinese central banker Zhu Min said that the dollar is set to weaken further and it will become more difficult for nations to buy U.S. Treasuries.

“When the U.S. has to fund its deficit through the combination of issuing more Treasuries and printing more dollars, it is inevitable that the dollar will continue to weaken,” Deputy Governor Zhu said at a forum in Beijing today.

The official’s comments, which he said were a personal view, focused on the twin U.S. deficits.

The U.S. can’t expect other nations to increase their purchases of Treasuries to fund its entire fiscal shortfall, said Zhu, a former vice president of Bank of China Ltd."

"Homeowners with mortgages of more than $1 million are defaulting at almost twice the U.S. rate and some are turning to so-called short sales to unload properties as stock-market losses and pay cuts squeeze wealthy borrowers.

“The rich aren’t as rich as they used to be,” said Alex Rodriguez, a Miami real estate agent with JM Group USA Inc., whose listings include a $2.9 million property marketed as a short sale because the price is less than the mortgage, leaving the bank with a loss. “People have reached the point where they can’t afford the carrying expenses of a $2 million home.”

Payments on about 12 percent of mortgages exceeding $1 million were 90 days or more overdue in September..."

"With filings up 30 percent in two years, some fear system is overburdened"

"According to the Social Security Administration, which runs the two main federal disability programs, new claims for disability benefits rose nearly 17 percent nationwide in fiscal year 2009, to 3 million. Disability filings are projected to rise another 10 percent in fiscal 2010, to 3.3 million new claims.

These applicants aim to join the roughly 12 million Americans who received disability benefts at a total cost of $161 billion in fiscal year 2009, according to the latest figures from Social Security."

"With so many new claims being filed, Allsup is worried that the Social Security system can’t handle them all."

"Continuing claims increased by 5,000 in the week ended Dec. 5 to 5.19 million. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.

Today’s report showed the number of people who’ve use up their traditional benefits and are now collecting extended payments jumped by about 144,000 to 4.73 million in the week ended Nov. 28. Seventeen of the 50 states and territories where workers are eligible to receive the government’s latest 13-week extension have begun to report that data, a Labor Department spokesman said. "

"Kern County's retirement system now owes its retirees $1.2 billion more than it has.

An actuary told a Kern County Employees Retirement Association committee Wednesday it has only 69 percent of the money it needs to fund future pension obligations to its retirees and employees."

==

CITY OF BAKERSFIELD
"Unfunded liability: Bakersfield's total unfunded liability -- the amount of retiree benefits earned that exceed the city's assets in the plan -- will top $103 million, up from $98.6 million this year."

"U.S. life insurers, a group led by MetLife Inc. and Prudential Financial Inc., may post $10 billion in losses tied to commercial real estate over the next three years, Moody’s Investors Service said.

Defaults on property loans and declines in commercial mortgage-backed securities will “dampen earnings,” the ratings firm said in a statement. The loss estimate was increased from $7 billion earlier in the year, Robert Riegel, managing director at Moody’s, said in an interview today. "

"New York's Metropolitan Transportation Authority approved drastic service cuts on Wednesday as part of its new budget to close a deficit of nearly $400 million.

The service cuts would include closing two subway lines, cutting station agents, slashing weekend and overnight service, and forcing pupils to pay for their travel to school."

"However, the company may also owe up to $3 billion because of guarantees Fairfield has made on individual apartment projects, the company said in court papers.

At least $1.5 billion of that potential debt is related to defaults on loans the company took from Capmark Finance Inc. and Wachovia Bank NA, said Fairfield restructuring adviser Andrew Hinkelman in court papers. "

"Surging food prices in India threaten to trigger political unrest as concerns mount that rising inflation across the broader region will crimp Asia’s economic recovery.

Food prices soared by 19.95 per cent in the year to December 5, according to Indian Government figures published today."

..................11A) Indian MPs protest against soaring inflation

"Members of India's opposition parties on Wednesday staged raucous protests against skyrocketing inflation, forcing parliament to adjourn.

Members of both houses of parliament lambasted the ruling Congress party over soaring prices of food and essential commodities that have leapt on lower agricultural output following the worst monsoon in nearly four decades.

"Either the price rises must stop or the government must go," Mulayam Singh Yadav of the left-wing Samajwadi Party told reporters"

"Mexico’s credit ratings may be cut further next year as the budget gap swells more than the government forecast, said Rogelio Ramirez de la O, the economist who predicted the 1994 peso devaluation.

The deficit will widen to at least 5 percent of gross domestic product next year, almost double the government’s forecast of 2.8 percent, as the economic slump erodes tax revenue, Ramirez said. Standard & Poor’s cut Mexico one level to BBB, the second-lowest investment-grade rating, on Dec. 14, three weeks after Fitch Ratings made the same move on concern falling oil output was driving up the deficit. "

"Lackawanna County school districts will pay an additional $2.6 million to fund school employees' pensions in the 2010-11 fiscal year, a Times-Tribune review has found.

Within two years, that increase is projected to jump to $20 million, and could fall on the backs of taxpayers."

"Using a broader definition of unemployment, as much as 45 percent of the labor force has been affected by the downturn.

And that doesn't include those who gave up the job search more than a year ago, a number that could exceed 100,000 potential workers alone. "

  (Link was posted at Nathan's Economic Edge)

"California faces at least another year of recession, and the state budget is so far upside down that it's now "more likely to default than not," on some of its debt, a new economic forecast from California Lutheran University's economists declares.

The director of Cal Lutheran's new Center for Economic Research and Forecasting, Bill Watkins, cites the state's budget problems, its high regulatory and operating costs and its deficit infrastructure as impediments to rapid recovery."

 (Link was posted at Pensiontsunami)

"The FDIC finalized a new regulatory capital rule Wednesday that will give lenders who package and resell mortgages and other loans a little breathing room when it comes to accounting for these assets on their books."

"In testimony prepared for delivery before the Senate Homeland Security Committee, Greenspan warned that the United States faces the threat of an unprecedented "fiscal crisis" because of record red ink."

 

..........Gold is at  just over $1,100 after falling over $35,  the dollar is 1% higher and some guy just married a video game character.

?????????

rickets's picture
rickets
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Re: Daily Digest - December 17

bend bend bend till they break.  Rice prices spiked way down in the last 24 hours.  Gold getting decimated as goes the Euro.  Social unrest and questions re the future of the Euro continue to increase, the 2nd derivitave slowing of unemployment starting to reverse and show that jobs are in fact still being lost very rapidly.  Equities acting very nervous.

Could be the signs of the next quick wave of deflation where every risk asset including gold crumble like March or last Oct/Nov?

If so, the dollar was the best place to be.....

Dont be married to positions or opinions in this market....Gold might be a good deal here looking out 5 years, but it could see a violent move down relative to the dollar if risk assets take more heat here. 

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Re: Daily Digest - December 17

This IMHO is Peter Schiff at his best. It is along watch but worth it. He speaks without notes & off the top of his head….amazing. I have believed in what Peter says all my life. Business should be simple & effective helping all directly as we all move into the future. Govt is a parasite on the people more than it is a help. The bigger it becomes the more bogged down it all gets & we all suffer. Let the markets work & we will all prosper but Govt dosen’t like simplicity since it puts them out of business. People have become so weak & complacent, look at them honestly & what do you see with the masses.

People want something for nothing & want Govt to take care of them (dole it out at someone else’s expense).....what a BIG mistake! This party will be over it is just when not if.

Peter IMO has his heart & sole in what he believes just Like Chris Martenson. I never see him waver on this. He called this down turn with amazing correctness which he had to endure such ridicule. It was not fun for him but he didn’t care because he knew he was right. It takes real character & strength to do that. I would love to see him get to the Senate. Most people conform when they get elected but my money would be on Peter to remain undeterred & stay with his beliefs.

It would be fun to watch him take this on. He will drive them Crazy LOL.

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Re: Daily Digest - December 17

Is it just me, or is there a whif of desperation in the gold camp?  I'm wondering if this is a sell signal.

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Captain Sheeple Interviews Dr. Martenson

OK, so I was a little bored with my work this morning and this was a fun way to procrastinate a bit....Please don't kick me off....Jeff

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Re: Captain Sheeple Interviews Dr. Martenson

OK.  I laughed out loud.  Now that's funny.

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Re: Daily Digest - December 17

That's great Jag - thanks for the afternoon humor!!!

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Re: Captain Sheeple Interviews Dr. Martenson

 

Hey, JAG..... BRAVO !!!!!  What an INCREDIBLE JOB you did that !!!!!!  What a BEAUTIFUL TRIBUTE to our fearless

leader. WAY TO GO, JAG !!!!! 

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Re: Daily Digest - December 17

JAG -

You need to put a warning on posts like this.

Off to clean coffee out of my keyboard.

Again.

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V
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Re: Daily Digest - December 17

The apple does not fall far from the tree. His father Irwin is in prison

for fighting the  IRS on the grounds it is unconstitutional.

Doing the right thing seems to run in the family

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Re: Daily Digest - December 17

 

Is it just me, or is there a whif of desperation in the gold camp?  I'm wondering if this is a sell signal.

I get the idea that is what someone wants us to feel. Like so many other things there was no real reason for gold and silver to take this big dip. I think fiat currency was getting a little upset at the attention gold was getting and decided to use a little muscle to knock it down a bit. Can't qualify that. Just a feeling

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Re: Daily Digest - December 17

Oh, Jeff, you have way too much time on your hands! Great post, though!

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Re: Daily Digest - December 17

JAG, a most excellent post! Made my day :)

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Re: Daily Digest - December 17

Thanks Jeff, LMAO.

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Re: Captain Sheeple Interviews Dr. Martenson

Thanks everyone, I'm glad you got a laugh. I guess it wasn't a waste of an hour or two after all.

All the best....Jeff

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Re: Daily Digest - December 17

Well done JAG a bit of humor makes everyones day.Laughing

John

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Captain Sheeple Interview

Finally the Captain surfaces again!  I hereby nominate that for Post of the Year (meaning BEST).  It was so funny!

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Re: Captain Sheeple Interviews Dr. Martenson

JAG, that was precious!  Thanks for a great laugh after a long day!

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Re: Daily Digest - December 17
green_achers wrote:

Is it just me, or is there a whif of desperation in the gold camp?  I'm wondering if this is a sell signal.

Blah, if it goes way down, it just means the next time you buy gold it'll be cheaper. That's good, no? :)

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Re: Daily Digest - December 17
guardia wrote:
green_achers wrote:

Is it just me, or is there a whif of desperation in the gold camp?  I'm wondering if this is a sell signal.

Blah, if it goes way down, it just means the next time you buy gold it'll be cheaper. That's good, no? :)

What has changed from a fundamental standpoint with specific respect to the debt, off balance sheet liabilities/obligations or to the deficit? Each and every one of those has gone up, as will the QE they will have to do to meet "budget". In two ten the roll over debt is 2 trillion so we will have at least a 4 trillion dollar short fall. Double two nine.

On the intake side the fuel is leaving the tank before reaching the engine, unemployment is up (unless someone is as stupid as O and believes the BS the BLS spits out) which means that revenues are down, taxes are down.

Econ 101 says no consumer = no economy.

In early two ten we have wave 2 of the residential rut rolling to shore with it comes 3.5 trillion in CRE.

Uncle Buck may sprint a bit with some more de-leveraging like we saw in Oct of two eight, there might be a flight to (perceived) safety when equities tank and the momos who know no better run to "securities", but the bottom line if your asking me is that NOTHING fundamental leads me to have any faith in Uncle Buck or the moron who is counterfeiting it in the basement of the Fed.

Welcome to the United States of Zimbabwe.

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Re: Daily Digest - December 17
idoctor wrote:

This IMHO is Peter Schiff at his best. It is along watch but worth it. He speaks without notes & off the top of his head….amazing. I have believed in what Peter says all my life. Business should be simple & effective helping all directly as we all move into the future. Govt is a parasite on the people more than it is a help. The bigger it becomes the more bogged down it all gets & we all suffer. Let the markets work & we will all prosper but Govt dosen’t like simplicity since it puts them out of business. People have become so weak & complacent, look at them honestly & what do you see with the masses.

People want something for nothing & want Govt to take care of them (dole it out at someone else’s expense).....what a BIG mistake! This party will be over it is just when not if.

Peter IMO has his heart & sole in what he believes just Like Chris Martenson. I never see him waver on this. He called this down turn with amazing correctness which he had to endure such ridicule. It was not fun for him but he didn’t care because he knew he was right. It takes real character & strength to do that. I would love to see him get to the Senate. Most people conform when they get elected but my money would be on Peter to remain undeterred & stay with his beliefs.

It would be fun to watch him take this on. He will drive them Crazy LOL.

 

Really perfectly put iDoctor! +1 !!!!!!!!!!!!!!! And indeed a super watch. 

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Re: Captain Sheeple Interviews Dr. Martenson

wonderful !!

very nice ............ that's some humor!!

I am really very curious to hear Dr. M's comment on this (if he ever comments!)

you have some neat skills up your sleeve.... JAG!

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idoctor
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Re: Daily Digest - December 17

Funny Jag when I saw Chris on the front of Time magazine I thought finally something is going right here! IMO we will not get this ship turned around until we see people of Chris's character on the front of Time. How long will this take??? I hope not another 20 years.

http://www.youtube.com/watch_popup?v=G44NCvNDLfc

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Re: Daily Digest - December 17
idoctor wrote:

Funny Jag when I saw Chris on the front of Time magazine I thought finally something is going right here! IMO we will not get this ship turned around until we see people of Chris's character on the front of Time. How long will this take??? I hope not another 20 years.

http://www.youtube.com/watch_popup?v=G44NCvNDLfc

Schiff nailed it. The government today and the Fed are creating more problems. Or, like good ol' Dr. Bartlett says - Our solutions create more problems.

VeganDB12's picture
VeganDB12
Status: Platinum Member (Online)
Joined: Jul 18 2008
Posts: 740
Re: Daily Digest - December 17

I really appreciate humor these days, many thanks Jeff.

Denise

TheRemnant's picture
TheRemnant
Status: Silver Member (Offline)
Joined: Jan 29 2009
Posts: 141
Re: Daily Digest - December 17

Schiff nailed it. The government today and the Fed are creating more problems. Or, like good ol' Dr. Bartlett says - Our solutions create more problems.

Government is a disease masquerading as its own cure.

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