Daily Digest

Daily Digest - November 24

Tuesday, November 24, 2009, 10:49 AM
  • The Need to Regulate Cross-Border Flow of Speculative Funds
  • Peter Schiff in Fed Face-Off...
  • How much longer can gold rise? 
  • Mexico Credit Rating Cut by Fitch on Oil Output Drop 
  • Ron Paul on CNBC discussing Audit the Fed (video)
  • Investors May Skew Housing Reality
  • Free Money From The Federal Reserve Fuels Dangerous New Wall Street Bubble
  • In Financial Reform Bill, Treasury Would Pick Staff, Be It's Own Watchdog
  • Fed Rage Boils Over Ahead Of Bernanke's Confirmation Hearing
  • Dimon Seen As Successor To Geithner
  • The Fed And Treasury--- "Unconstitutional Abuse Of Power"?
  • UK And US Bank Bailouts May Have Broken WTO Rules
  • Emerging Markets Try To Manage Flood Of Foreign Capital
  • Premium-Pay Medical Practices Grow As Doctors Seek More Control, Cash
  • Support For Health Care Plan Falls To New Low
  • Dead Farmers Get Millions From Tax Dollars
  • Recovery Is A Long Way Off For Hotel Industry
  • IMF Leader Says Public Will Not Tolerate Another Bailout
  • Greece Is Disturbingly Close To Debt Compound Spiral
  • Suicides Rise As Unemployment Rate Increases
  • Keep Calm And Carry On
  • Will The Unemployment Crisis Be Obama's Katrina?
  • Hacked Climate Emails Not A Game Changer
  • New Olive Planting Method Prompts California Oil Boom
  • As Sewers Fill, Pollution Spills Into Waterways
  • Kitchen Counter Gardening: Try Sprouts
  • Homesteading Lessons Learned: If I Could Do It All Again

Economy

The Need to Regulate Cross-Border Flow of Speculative Funds (cat233)

The root of much of past and current global financial crises lies in the unrestricted cross-border flow of speculative funds and the ability of market participants to deploy cross-border speculative financial and regulatory arbitrage for risky profit at the expense of central banks and local market fundamentals.  

Peter Schiff in Fed Face-Off... (SolidSwede)

The stock market rally is an illusion: "It looks like stocks are going up but on a real basis they're going down" when compared to the value of gold, he says, predicting that trend will continue until the Dow trades on a one-to-one ratio with gold. (Today, the Dow is worth about 9 ounces of gold, down from a peak of 43 in 2000.)

How much longer can gold rise? (Nickbert)

"In a bull market, worrying about an idea being too crowded with like-minded investors is not very productive. More likely than not, it will help to eliminate you from a winning position. At some point, when the gold market is finally reaching a top, it will, in fact, be too crowded. But we're almost nine years into this bull market in gold, and to me it seems that there are more people of the mind that "the trade" is too crowded than there are who say it isn't."

Mexico Credit Rating Cut by Fitch on Oil Output Drop (Joemanc)

Mexico’s investment-grade credit rating was lowered by Fitch Ratings as tumbling oil output and the worst recession since the 1930s swell the budget deficit.

Ron Paul on CNBC discussing Audit the Fed (Video) (Joemanc)

Investors May Skew Housing Reality (Joemanc)

"Buy and hold is not the top strategy of these investors," claims Hanson. "It is buy and sell quickly. So unlike any other time in history, the exact same house is being counted twice within a 2-6 month period of time, skewing the numbers. These investors were especially motivated to sell before the end of the tax credit on Nov. 30th -- or thought to be the end -- which is why median and average prices keep falling."

Free Money From The Federal Reserve Fuels Dangerous New Wall Street Bubble (Doug S.)

The Fed is betting all its chips on the George Soros theory that posits manipulative boosts to financial markets as the best way of enlivening Main Street economies. Market action since July testifies of the Fed's support of whatever psychology will drive asset prices higher long enough for the Fed and its preferred mega-banks to clean up their balance sheets. This crafty Fed strategy stands in stark contrast to what the Fed would do if it was benevolently disposed toward working Americans.

In Financial Reform Bill, Treasury Would Pick Staff, Be It's Own Watchdog (M.W.)

If the White House and congressional leaders get their way, the vaunted new oversight council charged with overseeing systemic risk in the financial markets will actually be a house organ of the Treasury Department, lacking the independence required to challenge decisions. The House bill calls for the council to be headed by the Treasury Secretary, who would pick his own staff from within the Treasury Department.

Fed Rage Boils Over Ahead Of Bernanke's Confirmation Hearing (M.W.)

The movement in Congress to rein in the Fed is gaining steam.

Dimon Seen As Successor To Geithner (M.W.)

Several U.S. policy makers consider JPMorgan Chase & Co Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources.

The Fed And Treasury - "Unconstitutional Abuse Of Power"? (M.W.)

The policy of the Fed and Treasury amounts to obligating the public to defend the bondholders of mismanaged financial companies, and to absorb losses that should have been borne by irresponsible lenders. The actions of the Fed and Treasury have the effect of diverting public funds to reimburse private losses, even though spending is the specifically enumerated power of Congress alone.

UK And US Bank Bailouts May Have Broken WTO Rules (M.W.)

Under WTO rules, the British Government may have been guilty of financial protectionism when it rescued it's banks. If found guilty, the UK could face trade sanctions or having to overhaul the semi-nationalised banking system significantly. If the UK is found to have broken the international trade code, then countries may be entitled to raise tariffs on UK trade. The warning would also apply to the US.

Emerging Markets Try To Manage Flood Of Foreign Capital (M.W.)

Brazil and Taiwan have imposed new controls on cross-border fund flows, while other Asian and Latin American countries are considering similar moves. Countries are worried about the capital that's coming in. Investors who sought safety in dollar-denominated assets one year ago now are rushing into countries such as S Korea or Brazil.

Premium-Pay Medical Practices Grow As Doctors Seek More Control, Cash (M.W.)

A growing number of doctors are enacting their own brand of health reform known as "concierge care." These physicians are opting out of the system, with some doctors dumping insurance companies altogether and others forcing patients to pay thousands of dollars cash to keep the care they have.

Support For Health Care Plan Falls To New Low (M.W.)

Only 31% believe Congress has a good understanding of the proposed health care reform.

Dead Farmers Get Millions From Tax Dollars (M.W.)

"Hundreds of farmers who have been dead for years are still receiving checks from the government. There's just billions of dollars being sent to farmers every year and no accountability for where the money goes. You don't have to farm to get farm subsidies. You don't have to have ever farmed to get farm subsidies. You don't even have to be alive to get farm subsidies."

Recovery Is A Long Way Off For Hotel Industry (M.W.)

Average national occupancy has dipped below 60 percent only twice before: since the 1920s---during the Great Depression, and in the aftermath of the 2001 terrorist attacks.

IMF Leader Says Public Will Not Tolerate Another Bailout (M.W.)

The public will not bail out the financial services sector for a second time if another global crisis blows up, the director of the International Monetary Fund warned. Dominique Strauss-Kahn said that another huge call on public finances by the financial services sector would not be tolerated by the man in the street and may even threaten democracy.

Greece Is Disturbingly Close To Debt Compound Spiral (M.W.)

"We need to save the country from bankruptcy."

Suicides Rise As Unemployment Rate Increases (M.W.)

For every one percentage point increase in the unemployment rate, the number of suicides increases 1.3%, Nearly 8.3 million adults had serious thoughts of suicide in 2008. Calls to the National Suicide Prevention Lifeline (1-800-273-TALK) are on pace to reach about 630,000 in 2009.

Keep Calm And Carry On (M.W.)

To propel themselves through this economic downturn, media and advertising executives are turning to a phrase meant to soothe another troubled populace: the British during World War II.

Will The Unemployment Crisis Be Obama's Katrina? (M.W.)

There's a Category 5 storm about to make landfall, and officials in charge of preparing for the approaching disaster don't seem to be particularly worried. Sound familiar? It's not like the levees haven't begun to crack, with the real unemployment rate at 17.5 %, the rate for workers aged 16-24 at 19%, and the unemployment rate for young African-Americans at 30%.

Environment

Hacked Climate Emails Not A Game Changer (M.W.)

Already dubbed "Climategate," e-mails stolen from a British university are sparking outrage from skeptics who say they show that the scientists were colluding on suppressing data on how humans affect climate change. The damage may be limited as the evidence is still overwhelming that a buildup of greenhouse gases is melting snow on mountain tops and shrinking global ice caps. The researchers involved were only a handful out of thousands across the world that have contributed to a vast convergence of data that shows the world has warmed.

New Olive Planting Method Prompts California Oil Boom (M.W.)

An oil boom is under way in California's agricultural heartland, as a trend toward healthy fare has transformed a profession as old as civilization: olive production for the extra virgin market. This year, California's olive oil production will top 1 million gallons for the first time. Growers have invested millions laying the groundwork to become a player in the global olive oil market, now controlled by Spain, Italy and Greece.

As Sewers Fill, Pollution Spills Into Waterways (M.W.)

One goal of the Clean Water Act of 1972 was to upgrade the nation’s sewer systems, many of them built more than a century ago, to handle growing populations and increasing runoff of rainwater and waste. During the 1980s, Congress distributed $60 billion to cities to make sure that what goes into toilets, industrial drains and street grates would not endanger human health. But despite those upgrades, many sewer systems are still frequently overwhelmed.

Kitchen Counter Gardening: Try Sprouts (cat233)

If you want to grow nutritious and tasty fresh vegetables during the cold months, sprouts are the answer to your prayers. In just a few days, a handful of seeds will turn into several servings of crunchy sprouts. It doesn’t get more fresh and local than that!

Homesteading Lessons Learned: If I Could Do It All Again (cat233)

From planning your home to laying out garden beds, a long-time homesteader offers advice 20 years in the making.

35 Comments

saxplayer00o1's picture
saxplayer00o1
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Re: Daily Digest - November 24

"JPMorgan Chase & Co., the second- largest U.S. bank, said the dollar will fall to a record low next year on signs the Federal Reserve will keep interest rates near zero until 2011 and investors seek higher-yielding assets."

"FINANCIAL markets expert Miles Sampa has said converting some of Zambia’s foreign exchange (FOREX) reserves into gold will be financially viable, but warned government to exercise caution since the country lacks the capacity to engage in risks related with precious metals."

"Due to less confidence in the US dollar which has tremendously fallen in value owing to the global economic and financial crisis, many governments have embarked on serious diversification of their countries’ FOREX reserves into various investment portfolios that include the purchase of gold."

"Gold, little changed in New York and London today, may gain on speculation central banks and investors will continue to purchase bullion.

Futures reached an all-time high of $1,174 an ounce yesterday as the U.S. Dollar Index dropped the most in two weeks and Russia’s central bank said it bought more bullion last month."

(more info)

"Every single bank in Japan, the US, Germany, Spain, and Italy included in S&P's list of 45 global lenders fails the 8pc safety level under the agency's risk-adjusted capital (RAC) ratio. Most fall woefully short.

The most vulnerable are Mizuho Financial (2.0), Citigroup (2.1), UBS (2.2), Sumitomo Mitsui (3.5), Mitsubishi (4.9), Allied Irish (5.0), DZ Deutsche Zentral (5.3), Danske Bank (5.4), BBVA (5.4), Bank of Ireland (6.2), Bank of America (5.8), Deutsche Bank (6.1), Caja de Ahorros Barcelona (6.2), and UniCredit (6.3).

While some banks may look healthy under normal Tier 1 and leverage targets, critics claim these measures can be highly misleading since they fail to discriminate between high-risk and low-risk uses of leverage."

........4A) Only half of banks' losses have been revealed, CBI summit told

"Global banks have so far only revealed half their losses from the financial crisis, Dominique Strauss-Kahn, head of the International Monetary Fund, told today's annual CBI conference in London.

"It is our view we are still in the situation where a lot of losses haven't been disclosed, Strauss-Kahn said. "How much is a difficult assessment, but let's say something which is close to half of it.""

........4B) There could be $1.5 trillion in bad debt remaining on their balance sheets, and losses on these bad loans still threaten the solvency of many institutions.

 (Note: Not posted here to reflect a political opinion) 

"The Federal Reserve Bank of New York’s purchase of agency mortgage-backed securities topped $1 trillion after it bought another $16 billion of the securities in the week ended Nov. 18. In the latest transaction, the Fed acquired $6.77 billion from Ginnie Mae, $5.9 billion from Freddie Mac and $4.55 billion from Fannie Mae. Overall, most of the Fed’s total net purchases (58%) were from Fannie Mae, followed by Freddie Mac (33%) and Ginnie Mae (9%)."

"LONDON/NEW YORK (Reuters) - Growing world oil use will likely outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis.

According to a Reuters poll of ten top oil-tracking analysts and organizations, oil demand is predicted to rise by 1.3 million barrels per day (bpd) next year to 85.9 million bpd."

(Look at Sutter County's pension debt history as it went from a $28.8 million surplus in 2001 to today's $52 million deficit)

"CalPERS has taken a $4.2 billion hit on its real estate portfolio in the second quarter of 2009, IPE reports. The real estate portfolio was structured more aggressively than the benchmark and mainly targeted housing, land purchase, development and leverage."

"Reportedly in the crowd were some of the very people whose job is to keep traffic moving. ABC7 heard that some parking control officers are taking part in the demonstration."

"U.S. home prices fell 3.8 percent in the third quarter from a year earlier, the smallest decline since the first quarter of 2008, as a tax credit for first-time homebuyers boosted demand and slowed foreclosure-driven price drops."

"Nov. 24 (Bloomberg) -- U.S. “problem” lenders climbed to the most in 16 years, and the Federal Deposit Insurance Corp.’s fund protecting customers against bank failures slipped into a deficit in the third quarter, the agency said.

The FDIC had 552 banks with $345.9 billion in assets on the confidential problem list as of Sept. 30, a 32.7 percent increase from 416 lenders with $299.8 billion in assets at the end of the second quarter, the regulator said today. The agency’s insurance fund had a negative $8.2 billion balance."

"Maryland's chief tax collector reported that the number of millionaires in the state plunged 30 percent last year to the lowest level in four years and that some wealthy residents might have moved.

The analysis from the comptroller's office is expected to stoke a debate over the General Assembly's decision to raise an income tax rate for millionaires, a budget-balancing move it enacted in 2008."

"The bottle and aluminum can recycling program, which recycled 16 billion bottles and cans in 2008, may lose up to $9 million in 2009."

"Part of the problem stems from the fact that the Legislature, which is controlled by Democrats, and Republican Gov. Arnold Schwarzenegger cannot come to an agreement on a plan to save the program. Another factor contributing to the recycling program’s financial woes is the fact that many more people submitted eligible beverage containers for redemption. With the national financial crisis, more people were redeeming cans for much-needed extra money."

"In the face of multimillion-dollar budget shortfalls, the superintendent of the giant Los Angeles Unified School District ordered spending cuts and froze hiring for some positions on Monday.

Superintendent Ramon Cortines said the nation's second-largest school district faces a deficit of $50 million to $60 million this school year and an estimated $480 million deficit next school year."

"The number of U.S. homes worth less than the debt owed on them reached almost 10.7 million, or 23 percent of all mortgaged properties, at the end of the third quarter, according to a report from First American CoreLogic.

An additional 2.3 million mortgages are approaching “negative equity” as loan defaults mount nationwide, the Santa Ana, California-based real estate research company said today."

16A) Wall Street Journal has a state by state chart of equity vs mortgages

"Signs of “aggressive lending” are reemerging in high-yield, high-risk bonds, as U.S. corporate debt sales surpassed an annual record of $1.171 trillion, according to Bank of America Merrill Lynch."

"Debt issuance has soared this year as borrowers have taken advantage of low interest rates and investors demand higher- yielding assets. Companies have sold $140.4 billion of junk bonds in the U.S. in 2009 compared with $64.3 billion for all of 2008, according to Bloomberg data."

 

.........Future value of those $140.4 billion of junk bonds.

idoctor's picture
idoctor
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Re: Daily Digest - November 24

Our fiscal situation has deteriorated rapidly in just the past few years. The federal government ran a 2009 deficit of $1.4 trillion—the highest since World War II—as spending reached nearly 25% of GDP and total revenues fell below 15% of GDP. Shortfalls like these have not been seen in more than 50 years.

http://online.wsj.com/article/SB10001424052748704888404574547492725871998.html?mod=googlenews_wsj

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Re: Daily Digest - November 24

Just In Time for Holidays: More Gloom and Doom on Economy

http://www.cnbc.com/id/34130663

"We are basically in a post-bubble credit collapse," Rosenberg said. "Is the recession technically over? You know what? All the expert seem to agree on that. That's what has me a little nervous."

 

 

Watch the interesting video on teis web page.

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Re: Daily Digest - November 24

Hacked Climate Emails Not A Game Changer (M.W.)

NOT SO FAST!

"Climate Gate" Development: CEI Files Notice of Intent to Sue NASA

http://spectator.org/blog/2009/11/24/climate-gate-development-cei-f

Besides 

It's Not Just That Global Warming Is Fake. What Matters Is Why This Fakery Is Being Promoted.

http://www.garynorth.com/public/5156.cfm

Will The Unemployment Crisis Be Obama's Katrina?

Sorry I think Obama is America's Katrina Wink

Dead Farmers Get Millions From Tax Dollars

US economic growth revised down to 2.8%

http://business.timesonline.co.uk/tol/business/economics/article6929669.ece

http://transsylvaniaphoenix.blogspot.com/2008/05/british-called-they-want-their-guns.html

- Original Message -----

To: 
Sent: Monday, November 23, 2009 2:10 PM
Subject: Defend American Sovereignty from Globalist Threats

Our battle to AUDIT THE FED has made great strides in a short time this year.

But that battle is only the beginning for our movement.

You see, the international banksters, one-world socialists and liberty-stealing statists have an arsenal of weapons at their disposal.

Their goal?  No less than the total destruction of our sovereignty and Constitution.

Their method?  To run roughshod over the U.S. Constitution through international “agreements” as they rapidly move toward their dream of a NEW WORLD ORDER -- one with a weakened and dramatically changed United States of America.

I don’t know about you, but all of this sends shivers down my spine.

If you agree -- and I hope you do -- it’s vital you help take action IMMEDIATELY.

In a few moments I'll give you the link for your DEFEND AMERICAN SOVEREIGNTY DECLARATION. Won’t you please sign your DECLARATION TODAY?

You see, whether you are talking about central banks, international managed-trade agreements, the United Nations, or any other collectivist scheme, the goal is always the same.

The goal is to consolidate authority in the hands of the international elite while stripping power from the American people.

After all, the MORE our government is controlled by the international elite -- from the inside and the outside. . .

. . . the LESS able you and I will be to hold the politicians’ feet to the fire when they try to strip away our freedoms.

That’s why the elites view state-controlled globalization of our economy and our government as their ultimate weapon.

And why they’re more determined than ever to continue down that road until our way of life is finally destroyed.

My friend, as a fellow Patriot, I know you see what’s happening all around us -- each and every day.

The global elites have made great strides to realizing their full agenda, including

:

*** The creation and control of central banks around the world -- including our own Federal Reserve -- which manipulates money supplies, causes runaway inflation, and keeps the wealth in the hands of their chosen few while the middle class is destroyed;

*** Control of the United Nations, which uses its power to destroy U.S. sovereignty through claims on our lands, our tax dollars and radical environmental restrictions aimed at crippling our industries and trade;

*** Their North American Union scheme to economically and politically merge America with Canada and Mexico through illegal immigration and “trilateral agreements” to further erode our national sovereignty for the benefit of multinational corporations;

*** Instigating and fomenting conflicts around the world, stretching our national defenses to the breaking point, while demanding military action be followed with “nation building” to rebuild what our government just destroyed.

The truth is, for all of our progress on our battle to AUDIT THE FED, that is but ONE battle you and I must fight.

If you and I fail to take action to reclaim our national sovereignty and our liberty, I’m afraid you and I won’t even recognize our country just a few short years from now.

You see, all the talk of a global, internationalist government limited only by its own appetite for power sounds to me like a recipe for ENSLAVEMENT.

I know that sounds harsh.

But it’s the truth.

As much as the mainstream media and even some of our “friends” may want to deny it, you and I both know we’re already well on our way down this path.

Today, it’s not just “paranoid” people who are talking about a one-world currency.

It’s not just the “conspiracy nuts” talking about a “Global New Deal.”

Just read the news headlines after a G-20 summit or after any United Nations meeting!

In fact, our Treasury Secretary, Tim Geithner, thinks nothing about discussing a one-world currency ON CAMERA with his buddies at the Council on Foreign Relations -- an organization who, as you know, describes the U.S. Constitution as an “obstacle” to their Global Government schemes!

Of course, that’s bad enough. But it’s not even close to the end of it.

Just consider the thousand-page so-called “free” trade agreements that require supranational NAFTA and WTO boards to enforce their globalist agenda.

Or take a look at the U.N.’s new “Firearms Trafficking” scheme.

This “treaty” is designed to mandate national gun registration, outlaw the sale of firearms without RFID tracking microchips, and set up an INTERNATIONAL court to prosecute U.S. gun owners who run afoul of the U.N.’s wishes.

That’s why it’s so important you act TODAY, by signing your DEFEND AMERICAN SOVEREIGNTY DECLARATION.

As you’ll see, this declaration urges your Congressman and Senators to fight to DEFEND and RESTORE American Sovereignty, including:

>>> Stopping U.S. participation in ANY new global governmental authority, including new world financial regulations, a world central bank or a world currency;

>>> Halting the North American Union, by defeating amnesty for illegal immigrants and stopping ANY federal funding for the so-called “NAFTA Superhighway” system through Canada, the U.S. and Mexico;

>>> Stopping ALL federal funding for the IMF, the World Bank, USAID and ending ALL government giveaways to foreign countries, which could save taxpayers upwards of $50 BILLION a year;

>>> Getting the U.S. out of the United Nations, because there’s no reason U.S. taxpayers should foot the five BILLION dollar annual bill;

>>> Repealing misnamed “free” trade deals to get the U.S. out from under the thumb of NAFTA, CAFTA and the WTO, which are nothing more than managed trade for the benefit of well-connected corporations;

If you agree, I hope you’ll act TODAY!

 

 

 

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Re: Daily Digest - November 24

In the old days I used to have to suffer though recurrent boredom (training) and listen to a ground instructor play an accident investigation video. You'd sit there in class listening to all the points where the crew tripped over it, and over it, and over it again until they augured in.

The news lately seems like the last few minutes of the cockpit voice recorder.

Historians will no doubt replay this tape and say, "Didn't they know they were insolvent and in a depression?"

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Re: Daily Digest - November 24

*******"The Dollar Bubble" now posted  on youtube by InflationUS******

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Fed Rage against Ron Paul & Congress

MORE FED RAGE HERE ..... This time from the Fed toward Ron Paul

Consider this hatchet piece on Ron Paul, written by a partner of a financial website, 24/7.com, one Douglas A. McIntyre. He is a frequent author on The Huffington Post.

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Red Alert

Impressive read:

 

Red Alert, The Second Wave of The Financial Tsunami to Hit in 2010

http://www.marketoracle.co.uk/Article15254.html

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straight
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Re: Daily Digest - November 24

From LoriS

"You see, all the talk of a global, internationalist government limited only by its own appetite for power sounds to me like a recipe for ENSLAVEMENT.
I know that sounds harsh.
But it’s the truth."

I suggest that it might be 'your truth', LoriS, more than 'the truth', however I do love to see americans squerm when it looks like they will be enslaved instead of it being them doing the enslaving.

For many decades americans and american corperations have enslaved whole countries. If, like most americans, you are too lazy to read an actual book, you can watch any John Pilger doco on south america or globalisation in general to get a little more up to speed on what is most peoples 'real truth'.

Great sport.  Keep it up.

Straight, Brisbane.

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Re: Daily Digest - November 24
Quote:

I suggest that it might be 'your truth', LoriS, more than 'the truth', however I do love to see americans squerm when it looks like they will be enslaved instead of it being them doing the enslaving.

Yeah, because the average American citizen is enslaving the rest of the world.[/sarcasm]

What is it with you and MikeM that precludes you from differentiating between the citizens of a nation and the powers driving it?
What you just said literally makes no logical sense.

So, before you post again, why don't you think and reason before you blindly charge in accusing "Americans" of being a bunch of evil conquistadors. The entire way of life and society has been perverted. It's myopic and counterproductive to blame just the brain for something the entire body did.

Cheers,

Aaron

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Re: Daily Digest - November 24
saxplayer00o1 wrote:

*******"The Dollar Bubble" now posted  on youtube by InflationUS******

As ever saxplayer00o1, totally genius and compelling find!!!

Thankyou for posting.

Best,

Paul

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Re: Daily Digest - November 24
Aaron Moyer wrote:
Quote:

I suggest that it might be 'your truth', LoriS, more than 'the truth', however I do love to see americans squirm when it looks like they will be enslaved instead of it being them doing the enslaving.

Yeah, because the average American citizen is enslaving the rest of the world.[/sarcasm]

What is it with you and MikeM that precludes you from differentiating between the citizens of a nation and the powers driving it?

What you just said literally makes no logical sense.

Yes Aaron, but every time you participate in the economy/matrix, be it buying gas for your car, eating out in a big hamburger chain, buying a car, even ammo for your weapons, you participate in the corporate vandalism of the rest of the world.....  so unless you actively make the effort to not do these things, then I'm afraid, it's guilty as charged...

Mike

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Re: Daily Digest - November 24

Mike,

I don't disagree...
Our entire concept of subsistence and supply is insane.
But it's not the "Americans" who did it. It's human nature.

So if we want to fix the problem, it's best we address the cause, and not the symptoms.

Cheers!

Aaron

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Re: Daily Digest - November 24

Hi Mike and Arron...

From an email i sent my mate this morning re the stolen uni emails... quoting myself.

"in its essence i think the biggest fight we face is against the greed of the immortals... the corperations. These corperates, which are created to perpetuate the exploitative world we find ourselves in, must be killed off. corporate law must change.  corporates gain their power by maintaining a 'one up' stance on the working man. by using the money they get from owning the resources and the means of production ,they influence policy makers [by bribes and graft and kickbacks] and corrupt the average citizen or  'consumer' through advertising and sponsorship.

if a man relies on food grown and sold by corperates, and water, owned by corperations and sold via corperations, and employment and in many ways his very self esteem [we are bombarded with messages that we express ourselves, we feel good about ourselves via what we buy, what we wear, the job we have, the corperate music we listen to] from the corporates... then it seems little wonder that the externalised costs of the corporates [enslavement of the third world, environmental degridation etc] will be ignored and belittled by those very people that define themselves via the corporations. 
 
in any abusive relationship the rulers of the relationship are set up to protect the abuser.
 
i suggest this is so in 'one on one' relationships, families and societies. i suggest that the abusers are the corperates and the political elites.  they are under a sustained attack and they are fighting back.  if some stolen emails are their best weapon, they must be in trouble."

 

Arron, I have travelled america extensively over the years. I have hitched and driven from coast to coast 3 times in the past three decades. I loved america!  it was a wonderful place with beauty beyond compare and compassionate, intelligent and generous people. I mean that.  in my eyes america was the guiding light to the world, the centre of learning and the base of representative government.  BUT, that has changed, wow has it changed.  The fifties saw the beginning of a movement that has finally gotten up enough steam to roll over the world.  the laws that your government has enacted has given corporations to own life itself!  I now see americans as mostly weak, subservient, bloated and corrupted. Obama spent a little shy of a billion dollars to get elected with a slogan of change... who are you kidding?  $800M of corporate money on a slogan of change... you would have to be barking mad to buy that, but americans did.

ive had enough of a weak and blinkered america. tough with a gun in your hand, but weak when it counts.  yes your country has been hijacked.  wtf are you doing about it?

 Straight.

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Re: Daily Digest - November 24

Straight,

I agree almost everything you've said.

America is "tough" as an old, infirm man on his death bed.
This system is dying, and corporatism is being replaced by a State which owns it's subjects.
Neither were good ideas, and both were allowed through the deviation from our guiding principles and ominious warnings from our founding fathers.

When the season changes and America lies cold and dead, I believe that the world may find itself in a very precarious position; without skill or knowledge or ability to perpetuate itself for it's reliance on Globalism.

The "Fall of Rome" put Europe into centuries of "dark ages".
The Collapse of America will be different only in pedantics.

Cheers,

Aaron

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Re: Daily Digest - November 24

The human species is perhaps 200,000 years old with an average species life of perhaps 500,000.  i dont have a clue what our world will look like in 50 years, let alone 500, 5000 or 50,000 years.  thats why i listen to CM. the next 20 [ffs, only 20 years] will be indeed be totaly unlike the last 20 years.

As for human nature. Yes, i agree that failing to come to terms with our nature is at the root of our present situation.  i suggest that denial almost defines us as a species.  if you get a chance to visit http://www.humancondition.com/ASpeciesInDenial.html and read the first chapter of Griffith's book, 'a species in denial' you will perhaps get a little insight into how science has made great [unpublished] strides into understanding our nature. 

Professor Harry Prosen, former President of the Canadian Psychiatric Association, has said of Freedom, [Jerremy Griffiths earlier writing on Human Nature]  “Finding understanding of the human condition, our capacity for good and evil, has been the Holy Grail of the whole Darwinian revolution because it is the insight needed for the psychological rehabilitation of the human race. Since I am convinced this book presents that liberating understanding I believe there has never been a more exciting moment in human history, or a more important book.”

straight.

 

 

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Re: Daily Digest - November 24
Damnthematrix wrote:

Yes Aaron, but every time you participate in the economy/matrix, be it buying gas for your car, eating out in a big hamburger chain, buying a car, even ammo for your weapons, you participate in the corporate vandalism of the rest of the world.....  so unless you actively make the effort to not do these things, then I'm afraid, it's guilty as charged...

Mike

Hey Mike, did you hand-make that computer that your using or did a corporation make it? What about those photovoltaic panels that you brag about all the time? And the inverter, batteries, tractor and everything else of a technical nature in your homestead?

So unless you are actively making an effort not to use these things then I'm afraid your guilty as charged.

Hypocrite.

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Re: Daily Digest - November 24

Ugh.  Great.  Now we're knifing each other.  Like anywhere else in the blogosphere there's a superior population?  (If there is, I haven't found it.)

I'm not certain what exact shapes solutions have.  But I am totally certain they have nothing to do with anybody pointing out everybody else's flaws.  It may drive my wife crazy, but I'm solution oriented (she's always wanting me to just be in the moment and fuhgeddabout suggesting fixes).  C'mon ya'lls.  We have to let yesterday's shiz fall by the wayside and get about the biz of the big questions.  

Maybe it's that we already know the answers to the big questions and we're just impatient for the next beat?  I dunno.

Viva -- Sager

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Re: Daily Digest - November 24

Hmmmmm....  well the computer's not mine for starters, belongs to Permaculture Noosa who let me have it to do their newsletter with....

The panels are made in Mexico, US company.  Yep, guilty, but at least that's the end of the electricity consumption road.

The inverter is made by a small German company.......  I wouldn't consider it a corporation, but there you go.  At least we have reduced our consumption of most things by 90%....... and then most things we own we bought used...  call me a hypocrite if you like, we all do the things we do because we can I guess.

Mike

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Re: Daily Digest - November 24
SagerXX wrote:

Ugh.  Great.  Now we're knifing each other.

I've been thinking lately that as the inevitability of TSHTF becomes obvious, AND its fast approaching timing looms ever nearer, we are all starting to get edgy.......

Mike

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Re: Daily Digest - November 24

Hey Sager,

I might be wrong, but I'm not really detecting any hostility.
Just spirited conversation from differing perspectives.

I've been through several books as of late; "Ishmael" by Daniel Quinn, and "Edible History of Humanity" by Tom Standage most notably, who're basically trying to pour blame on Anglo males for the sins of society.

This basic premise seems to have permeated academia, and I've got to say - it's ridiculous.
Without the society, replete with hubris though it may be, there wouldn't be computers on which to complain about the folly, printing presses with which to distribute your dissatisfaction with technology, colleges in which you can espouse your conjectural doctrine and language complex enough to understand issues as simple as what function the sun serves.

Let's face it: This society has provided us with all the necessary tools by which to become a wise, mature and capable race.

Just because we are not yet doesn't mean we should all move to the bush and live like the Hadza or Bushmen.

Quite frankly, most of these intellectuals are blaming agriculture for the woes of the world, if you can believe that.
Mike, you've got to understand how ridiculous that is, yet plain as day, people feel that your lifestyle as a farmer is too complex, and you're simply manipulating and raping nature for your own good.

Point is: We can blame eachother until we're blue in the face.
There is no "one right answer", and consumerism is generally a terrible idea.

Free trade, intellectual pursuits, civilization and orderly society are actually pretty desirable.
Would I be more free as a wandering nomad in the deserts of the Khalihari? Yeah, probably.
But would I be able to study medicine and learn the intricacies of the world and it's organisms?

Not in any profound capacity.

This is sort of becoming a rant, but we have to keep in perspective that we're getting burned by immaturity as a species. We share the blame and none of us are 'innocent'... but it's necessary to learn through experience, and that's what humanity is doing.

The last time we had a dark ages, we got the renaissance out of it.

So the next time we start to get down on cultures, lets try and keep in perspective that Western Civilization has created more culture in 500 years than humanity had in hundreds of thousands... in the form of Art, Literature, Music, culinary specialization, scientific advancement and understandings and in social justice.

Cheers,

Aaron

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Re: Daily Digest - November 24
Aaron Moyer wrote:

Point is: We can blame eachother until we're blue in the face. 

There is no "one right answer", and consumerism is generally a terrible idea.

Free trade, intellectual pursuits, civilization and orderly society are actually pretty desirable.
Would I be more free as a wandering nomad in the deserts of the Khalihari? Yeah, probably.
But would I be able to study medicine and learn the intricacies of the world and it's organisms?

Not in any profound capacity.

This is sort of becoming a rant, but we have to keep in perspective that we're getting burned by immaturity as a species. We share the blame and none of us are 'innocent'... but it's necessary to learn through experience, and that's what humanity is doing.

Yep.

Aaron Moyer wrote:

The last time we had a dark ages, we got the renaissance out of it.

So the next time we start to get down on cultures, lets try and keep in perspective that Western Civilization has created more culture in 500 years than humanity had in hundreds of thousands... in the form of Art, Literature, Music, culinary specialization, scientific advancement and understandings and in social justice.

I'd like to think we could navigate the next coupla decades such that we didn't have a couple centuries of Dark Ages.  But then, I'm a crazy rosy-goggled optimist.  

All your post is quite eloquent, Aaron.  When people get chippy about the current state of things, I don't know what the point might be.  The point as people 100 years from now might understand it. 

Yeah, I'm still coming from that "We Happy Few" POV.  I'm all about "How Does Today's Discussion Get Us to the Better Place in Less Than 24 Months?"

Goggles on...

Viva -- Sager

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Re: Daily Digest - November 24
Davos wrote:

You'd sit there in class listening to all the points where the crew tripped over it, and over it, and over it again until they augured in.

The news lately seems like the last few minutes of the cockpit voice recorder.

Interesting perspective, Davos.

"Challenger, Go to Throttle-Up."

"We need a second Stimulus Bill."

I fear that these will both be remembered for decades as "final transmissions". :-(

Erik

 

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Backing up to regroup

Well, after watching "The Dollar Bubble" I decided I needed to go back, regroup and get my thoughts organized again about what is happening/coming.  

To that end I was going through a ton of old bookmarked pages that I had filed away in a folder called "Recession" which I had created about two years ago.  While doing that I came across an article that was written in Aug of 2006.  In re-reading it before I deleted it I realized just how prescient it was.  This lead me to look at other articles on the site and found a few others that did the same thing.  

The website has to do with "Austrian Economic Theory" as put forth by Russell M. Randall.  Now I will readily admit I know nothing about "Austrian Economic Theory" all I can say is that these papers are a great read....especially in hindsight.  

Why is Economic Depression Imminent?  

by Russell M. Randall 8-30-2006

 

A Deflationary Collapse Followed by Hyperinflation

by Russell Randall 1-19-2008

 

Why Will Government Intervention Efforts Fail to Avert the Depression?

By Russell M. Randall 9-21-2008

 

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Re: Daily Digest - November 24

Sager,

People like you will make the tough times bearable. No joke bud.
Don't lose that spirit.

"The strength of the pack is the wolf, and the strength of the wolf is the pack"
-Rudyard Kipling, 'The Jungle Books'

Keeping spirits high, emotions low, and attentions focused is every bit as essential as pay dirt, water and defenses.

Erik and Davos are probably right...

The Final Transmissions of our society are being broadcast; gentle, meaningless platitudes to build false dreams upon.

But the death of our society will not deviate from any other cycle of death in nature - the decay will fertilize the grounds for a resurgence. Our descisions during these times will determine the fate of our lineage, as well as our immediate concerns.

Cheers!

Aaron

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Re: Daily Digest - November 24
Aaron Moyer wrote:

I've been through several books as of late; "Ishmael" by Daniel Quinn, and "Edible History of Humanity" by Tom Standage most notably, who're basically trying to pour blame on Anglo males for the sins of society.

<SNIP>

Quite frankly, most of these intellectuals are blaming agriculture for the woes of the world, if you can believe that.

Mike, you've got to understand how ridiculous that is, yet plain as day, people feel that your lifestyle as a farmer is too complex, and you're simply manipulating and raping nature for your own good.

Aaron, I had to smile at that one.....  I actually agree with Quinn!  I don't "do" agriculture, I practice PERMACULTURE, and if anyone reading this doesn't understand the difference, then you need to find out....  Google is your friend, there is actually lots of info on this site.

I certainly don't "rape nature", not even manipulate it, I mimic it.....  and everything around me is actually improving, the soil, the trees, the water retention......  and of coursr the productivity.  Before I came along, this place was a dairy farm, in effect "agriculture", and man did I have to repair the place.....

Mike

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Re: Daily Digest - November 24
ErikTownsend wrote:
Davos wrote:

You'd sit there in class listening to all the points where the crew tripped over it, and over it, and over it again until they augured in.

The news lately seems like the last few minutes of the cockpit voice recorder.

Interesting perspective, Davos.

"Challenger, Go to Throttle-Up."

"We need a second Stimulus Bill."

I fear that these will both be remembered for decades as "final transmissions". :-(

Erik

 

I think you are right! Second stimulus, war surge, health care, cap and tax. Gosh, hate to see these guys running a maxed out household and or a maxed out corporation.

 

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Re: Daily Digest - November 24

Mike,

Without learning the lessons that came along with all the failings of the ancient world, the dark ages, the reniassance, the industrial revolution and the fossil fuel age, we wouldn't have Permaculture.

Quinn is a hack, and the supposition that we should all reject knowledge is self-limiting to the nth degree.
It's like some thick-skulled neandrathal telling early homo-sapiens:
"Watch out for that fire! It'll burn your house down!"

Yeah. It will.
But the potential benefits outweigh the disadvantages.

Humans must move forward.
Permaculture is a critical element of that, in my opinion, but the advance job specialties that come with modern society are valuable beyond description.

Not to say that there isn't dignity in the very simple, primitive way of life enjoyed by the last of our Hunter-Gatherers, I agree they should be sheltered and protected as vigilantly as any other endangered species, but to insinuate that we're "lesser" people for pursuing knowledge is just ridiculous and counter-intuitive.

Cheers!

Aaron

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Re: Daily Digest - November 24
Davos wrote:

I think you are right! Second stimulus, war surge, health care, cap and tax. Gosh, hate to see these guys running a maxed out household and or a maxed out corporation.

But we need the stimulus and the war is important because Saddam really was a bad guy and we need a health care bill because we deserve to get free medical care... United 93, Cleveland, are you still with the Center?

Erik

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Re: Daily Digest - November 24-Desiree Jennings

http://neuroskeptic.blogspot.com/2009/11/b-movie-medicine.html

Dr. Buttar did cure her (which is wonderful, honestly) but there is more than one possible explanation....

Dr Buttar's treatment was psychologically very powerful - precisely because he believed in it, so he was able to convince Jennings to believe in it. A doctor who realized that Jennings' symptoms were psychogenic would have found it much harder to achieve the same result. In order to do so, they would have to lie to her, by pretending to believe in a treatment which they knew was just a placebo. This is hard - the doctor would need to be an excellent actor as well as a medic - not to mention ethically tricky.

 

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Re: Daily Digest - November 24
ErikTownsend wrote:
Davos wrote:

I think you are right! Second stimulus, war surge, health care, cap and tax. Gosh, hate to see these guys running a maxed out household and or a maxed out corporation.

But we need the stimulus and the war is important because Saddam really was a bad guy and we need a health care bill because we deserve to get free medical care... United 93, Cleveland, are you still with the Center?

Erik

....Sorry I was drooling on my laptop..say again.  Your post has me looking for the picture of Sadam hugging Rumsfeld when the US sold him nasty stuff to use on Iran.

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CEO of JPMorgan To Replace Geithner

Jamie Dimon seen as good fit for Treasury

As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration's handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement.

Sources tell The Post that a number of policy makers have begun mentioning Dimon as a successor to Geithner, whose standing in Washington has suffered because of the country's high unemployment rate, the weakness of the dollar, the slow pace of the recovery and the government's mounting deficit.

Last week, Geithner faced a withering attack from some Republican members of the Joint Economic Committee, getting into a testy exchange with one congressman who at one point asked Geithner if he would step down.

Read more: http://www.nypost.com/p/news/busines /polishing_dimon_IKfyRK8PArjjlMYflWAvDK#ixzz0XsfJp8VN

Whats next, Osama Bin Laden for Secretary of Defense?

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Re: Daily Digest - November 24

Or, as Peter Schiff has suggested, why not Bernie Madoff for Treasury Secretary? He has more ponzi scheme experience than the rest of these guys combined, and that seems to be the principal job skill they're looking for.

Erik

 

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Re: Daily Digest - November 24

Madoff was nothing.  Dimon is one of the biggest fraudsters in history being the face man for the Rockefellers' bank as it built up the biggest leveraged position on the planet.  Leverage has been used since the 80s as the weapon of choice for hostile corporate takeovers.  Now they did it to the national government to get a few trillion for their peeps and steal WAMU as an extra tip...damn...puts all the famous KKR takeover deals to shame.

what good are papers?  took the Post about 6 months too long to figure out the "Dimon as savior" setup.

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Re: CEO of JPMorgan To Replace Geithner
JAG wrote:

Jamie Dimon seen as good fit for Treasury

As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration's handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement.

Whats next, Osama Bin Laden for Secretary of Defense?

What JAG said.  How would this be an improvement?  Egad.  Rearranging deck chairs...

Viva -- Sager  

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