THE MOST DEVIOUS LIARS IN THE ROOM

48 comments

Posted on 4th November 2015 by Administrator in Economy

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There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.

A few weeks ago, to great fanfare from the fawning faux journalists who never question any Washington D.C. propaganda, they announced the lowest annual deficit of Obama’s reign of error.

For the fiscal year that ended Sept. 30 the shortfall was $439 billion, a decrease of 9%, or $44 billion, from last year. The deficit is the smallest of Barack Obama’s presidency and the lowest since 2007 in both dollar terms and as a percentage of gross domestic product.

Jack Lew, the Treasury Secretary, and Obama were ecstatic as they boasted about this tremendous accomplishment. I find it disgusting that our leaders hail a $439 billion deficit as a feather in their cap, when until the mid-2000’s the country had never had an annual deficit above $300 billion. After 183 years as a country, the entire national debt was only $427 billion in 1972. Now our beloved leaders cheer annual deficits above that figure. What a warped, deformed, dysfunctional nation we’ve become.

When the government reported this tremendous accomplishment, there was no way to verify the number against the national debt figures, as the government stopped reporting the daily national debt figure because of the debt ceiling impasse with Congress. The farce of these Kabuki Theater exercises in government incompetence is almost beyond comprehension.

The Treasury Department pretends the national debt is not increasing, even though they continue to spend $1.43 billion more per day than they are bringing into their coffers. Future generations see their debt obligation rise by $59.6 million per hour and we act like this is a reasonable and normal situation. The idiocy of these Keynesian extremists is enough to make a rational person’s head explode.

Once the two heads of one party agreed to raise the debt limit to infinity, the Treasury decided to update the National Debt figure. They stopped counting in mid-March at $18.151 trillion. When they resumed counting on November 2 it skyrocketed by $341 billion to $18.492 trillion. Then it jumped another $40 billion on November 3 to $18.532 trillion.

It takes a little addition and subtraction to estimate the true fiscal 2015 increase in the National Debt, so most of graduates of our government controlled public education system would be helpless, as they are concentrating the crucial issues of social justice, celebrating diversity, and declaring global warming non-debatable.

It seems the National Debt increased by $1.43 billion per day while they weren’t counting, so using that figure for the 205 days leaves you with a National debt of $18.444 trillion on September 30, 2015. The year began with a National Debt of $17.824 trillion. Therefore, the TRUE fiscal 2015 annual deficit of the country was $620 billion. As a reminder, interest doesn’t accrue against reported government accounting deficits. It accrues against the true increase in the national debt.

If you were paying attention earlier in this article you might remember Obama and Lew announced a $493 billion deficit, not a $620 billion deficit. A critical thinking person might wonder why the National Debt went up by 26% more than the deficit officially reported by our trustworthy leaders. This is where the hocus pocus of government accounting enters the picture.

You just don’t count things that would make the deficit bigger. You pretend the SSI and SSDI entitlement programs aren’t running deficits. You pretend you are being paid back by Fannie and Freddie, when it is just meaningless accounting entries. And this doesn’t even scratch the surface of the true annual deficits. Laurence Kotlikoff, professor at Boston University, is one of the few honest men in academia when it comes to economics and our dire financial straits. Using true accrual accounting, our annual deficits are really $5 trillion per year. His recent testimony before the Senate laid out the truth:

“Our country is broke. It’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today. Indeed, it may well be in worse fiscal shape than any developed country, including Greece. In reality we’re facing a fiscal gap of $210 trillion. That’s 16 times larger than official U.S. debt, which indicates precisely how useless official debt is for understanding our nation’s true fiscal position, and almost 12 times the current GDP of $18 trillion.”

This brings us to the other stories hitting the wires this week that tie into the deficit deception being perpetrated on the American people. One of the major reasons the government has been reporting declining deficits are the $239 billion of “payments” from Fannie Mae and Freddie Mac to the U.S. Treasury. But those “payments” were not cash. They were phantom journal entries. It’s really very simple.

In March 2009, at the stock market lows, Bernanke and Geithner threatened the weenie accountants at the FASB and forced them to suspend their mark to market accounting rules so that bankrupt insolvent Wall Street banks, along with Fannie and Freddie, could falsify their financial statements by valuing worthless toxic mortgage sludge at 100% of their book value. It’s amazing how profitable a financial institution can be if they fake their financial statements.

So over the last few years, criminal Wall Street banks have produced fake profits, which they then used to “pay back” their TARP funds to the U.S. Treasury. Fannie and Freddie have been able to announce hundreds of billions in fake profits, which they have used to pay fake dividends back to the U.S. Treasury. If they were real profits their stocks wouldn’t be lingering at $2 per share, down 95% from their 2007 highs. Essentially, most of the deficit reduction over the last few years, lauded by the Obama administration, has been nothing but an accounting ruse cooked up by the Fed, the Treasury, Wall Street, and the captured housing mortgage entities.

The announcement this week marks an end to this charade. Freddie Mac lost $475 million in the third quarter and Fannie is also expected to report a big loss. No more phantom paybacks to the U.S. Treasury to reduce the deficits. It is now highly likely these pitiful excuses for business enterprises will require billions in taxpayer bailouts in the foreseeable future. When this latest Fed induced housing bubble pops for the second time in a decade, Fannie and Freddie will lose $187 billion again in the blink of an eye.

WASHINGTON (MarketWatch) — Fannie Mae and Freddie Mac are at risk of needing an injection of Treasury capital after the latter reported its first quarterly loss in four years, the director of the Federal Housing Finance Agency said Tuesday.

FHFA Director Mel Watt issued a statement following mortgage-finance company Freddie Mac’s $475 million third-quarter loss, its first quarterly loss in four years.

“Volatility in interest rates coupled with a capital buffer that will decline to zero in 2018 under the terms of the senior preferred stock purchase agreements with Treasury will likely make both Enterprises increasingly susceptible to the possibility of quarterly losses that could result in draws going forward,” Watt said.

Freddie Mac said its loss was driven by interest rate changes that soured the value of derivatives it holds.

It seems the deviants in Washington D.C. have run out of tricks. The treat will be soaring deficits, as entitlements, Obamacare, war expenditures, and a myriad of other goodies promised by corrupt politicians of both parties, overwhelm the nation. The projection for fiscal 2016 is already higher than 2015, and this is before the current recession’s impact on tax revenues has been taken into account. The $1 trillion deficits of a few years ago are coming back shortly.

The average maturity of our existing debt is about 5 years. Instead of locking our debt in at 30 year rates below 3%, our government has decided to play Russian Roulette with interest rates. A 1% increase in interest rates will drive interest on the debt from $400 billion per year to $600 billion per year, a 50% increase. A normalization of rates to 2007 levels would drive the annual interest on the debt to almost $1 trillion and blow an enormous hole in the budget. Now you know why Madam Yellen can’t bring herself to increasing rates by even a paltry .25%.

Lastly, we put the cherry on the cake of governmental incompetence, recklessness, self interest, and foolish disregard for the taxpayer. Fannie and Freddie are again reporting losses. Home prices have been driven by speculators, hedge funds, and foreign money to new record highs. Mortgage rates remain near record lows and will immediately spike when the Fed increases rates. The middle and lower classes have seen their real household income continue to shrink.

The economy is clearly weakening as corporate profits fall, global trade shrinks, layoffs soar, and all economic indicators flash red. Sounds like the best time to lure low income dupes into the housing market with 3% down payment mortgages with no minimum cash contribution – all backed by the U.S. taxpayer. The low income home buyer will instantly be 5% underwater, as it costs 8% to sell a house. The coming 20% to 30% decline in home prices will do wonders for the foreclosure business. At least we have plenty of experience in this arena.

Fannie Mae has announced their latest program – HomeReady:

“HomeReady is designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities. HomeReady lets you lend with confidence while expanding access to credit and supporting sustainable homeownership.”

Fannie is encouraging fly by night mortgage brokers and shady lenders to dole out subprime mortgages to anyone that can fog a mirror, with the full confidence that the billions in future losses will be picked up by the American taxpayer. Where have I seen this story before? We really need some patriotic Wall Street banks to package these loans into a CMO derivative and sell them to pensions funds across the globe. What could go wrong?

We’ve allowed our nation to be overtaken by a financial elite who have captured the politicians, the judiciary, the mass media, and the economic levers of the state. The issuance of ever increasing levels of debt leads to their enrichment and our impoverishment. If we continue to act like passive sheep, we will forever be ruled by wolves.

“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”  ― Thomas Jefferson

“A nation of sheep will beget a government of wolves.” Edward R. Murrow

48 Comments
  1. Desertrat says:

    Probably a large part of causation for the decrease in the deficit is the lower cost of fuel to the military. And, maybe, less spending on gas stations in Afghanistan.

     

    4th November 2015 at 9:31 pm

  2. Iska Waran says:

    Most devious? I vote for Lack Jew.

     

    4th November 2015 at 9:52 pm

  3. starfcker says:

    Iska, there is an entire generation of neolib/neo-con trash that needs to get run out of town. Looks like it might happen. Thank god, these fuckers are going to go down as traitorous scum. All of them.

     

    4th November 2015 at 10:32 pm

  4. DRUD says:

    Hello Admin, sorry can’t even read the article right now…I would love it you could post this video..it is from 2012, but I swear you will never hear a more articulate, accurate assessment of where America stands today than this (outside of TBP of course)…and the guy is maybe one of the to 3 fucking rock n roll song writers of all fucking time…listen…then LISTEN

    https://www.youtube.com/watch?v=qjXfFZmkwcg

    https://www.youtube.com/watch?v=w8kyfhABWug

    On a side note, would it be possible for me to be set up as a contributor here? I don’t know if I have anything useful to say…but I believe I have a unique perspective. Perhaps, DRUD’s thought of the day?

     

    5th November 2015 at 12:16 am

  5. Anonymous says:

    Funny…and maybe because I’m a bit in the bag, but this interviews, from one of my musical heroes, fired me up like few things have. I wish I could portray thoughts so articulately and rationally as this guy and I REALLY wish I could write songs a millionth as well.

     

    5th November 2015 at 12:20 am

  6. DRUD says:

    Anon last was I.

     

    5th November 2015 at 12:21 am

  7. DRUD says:

    Who’s out and about…

    in rare form…I am a bit drunk, my wife is in South America and I am out for blood…

    ..or at least a good, solid shitfest.

     

    5th November 2015 at 12:22 am

  8. DRUD says:

    oh…and yes, I know for you East Coast pussies it is after midnight. BFD.

     

    5th November 2015 at 12:24 am

  9. bb says:

    Denial , Deceit , Delusion …. Wash ,Rinse , Repeat…. I believe sums it up.

     

    5th November 2015 at 12:28 am

  10. DRUD says:

    OK…read the article now…more of the same.

    What can be said? IT is hubris, it is megalomania, it is deceit and corruption, willful men in ivory towers…

    in short, it is more of the same evil.

    It seems I, personally, can only totter between rage and apathy.

     

    5th November 2015 at 12:29 am

  11. DRUD says:

    BB…are you my huckleberry? I believe the strain of dealing with a drunken DRUD may be more than you could bear.

     

    5th November 2015 at 12:30 am

  12. DRUD says:

    And I cannot even wait for the first DRUD’s TOD:

    Perspective.

    “You will find that many of truths we cling to rely greatly on our own point of view.”

    Obi-wan Kenobi

    Take what we know of the Cosmos…from our perspective it is essentially infinite, and in point of fact the same, in all observable directions. I say essentially because when we go back more than 13.8 or so billion years, we see nothing. Light from farther has not reached us yet. And what wonderful assumptions we make of this. One side argues that it is ridiculous to say we are at the very center of all this…the other argues that we can possibly know a single damn thing from a single perspective contemplated over a mere nanosecond of time ( in a cosmic view).

    Rationalists ( a far better term in my mind than atheist) boggle me. Perhaps they are completely unaware of the fable of the Six Blind Men and the Elephant. The real message of which is, simply, no one is really wrong, but no one has anything approaching the whole picture.

    Christians (as much as I love many of them in my own family) boggle me equally. To say that they, and they alone, understand the mind of a God that can create such a Cosmos, is beyond ridiculous.

    You want to here something more ridiculous? I cannot condemn either group as being wrong? Why? A dearth of information. It IS tat simple.

    And for all the other belief systems that exist between Rationalists and Six-Literal-Day Christian. I can say the same for you. I do not fucking know…and I swear to you that I spend the greater part of each day contemplating such.

    Here’s what I do know? The world, the whole fucking Human race–which for all we can conclusively determine is the ONLY sentient race in all of this vast and ancient Cosmos–is despicable, corrupt, self-destructive and obviously doomed, from both an individual (death) and a societal (shit, if nothing else, the Sun will go nova in 4 billion years or so) point of view.

    YET, we somehow still love…we still forgive…we still sacrifice ourselves and our comforts for others…we still make art, done for no other sake but itself…and we still yearn for liberty.

    Why?

    A noted, known worldwide Cosmologist Lawrence Krauss, has said that, physically speaking, “how” IS “why.”

    Physically speaking, he may be correct.

    Is that enough for you?

    Is it?

     

    5th November 2015 at 12:58 am

  13. DRUD says:

    Ok, ready over last…it is about 1/1000th of what I wanted to say, and yet I feel it is a good start.

    Banality written is always better than genius unsaid.

     

    5th November 2015 at 1:04 am

  14. EL Coyote says:

    Drud, I thought I was reading Ignatius’ tablets.
    Your paint brush is a bit broad for a masterpiece but you have some bold strokes.
    What is the old lady doing in SA? Did she get deported?

     

    5th November 2015 at 2:30 am

  15. EL Coyote says:

    LLPOH said people should post while drunk at least once. He was probably drunk.

    I hate my writing on a normal day and would have to kill myself 3 or 4 times if I wrote anything while drunk. Point 1, I don’t drink. Point 2, if I was drunk I’d think of my ex girl-friend so I don’t dare drink,

    You ever call up an ex-GF while drunk? You hate yourself worse in the morning than if you’d picked up a sailor.

    Here’s a bit of advice from a buddy of mine – ‘my mom said, if your thinking, don’t be drinking.’

    And a sign at the bar – I drank to forget you and now I see you double.

     

    5th November 2015 at 2:39 am

  16. bb says:

    DRUD ,you are right about human depravity . You are right about the human race.Not sure about the universe.I guess only God knows.

     

    5th November 2015 at 3:42 am

  17. Iska Waran says:

    Drud, your wife’s in South America, you’re drunk, and you’re looking for a shitfest. Is that slang for some kind of gay orgy?

     

    5th November 2015 at 8:15 am

  18. Administrator says:

    DRUD

    Once you recover from your hangover, send me an email at [email protected].

    I’ll set you up as a contributor and send you a password.

     

    5th November 2015 at 8:34 am

  19. Bea Lever says:

    The best writers are usually drunkards………………go DRUD.

     

    5th November 2015 at 8:50 am

  20. Iconoclast421 says:

    I’m glad you posted that 2nd chart. There are still millions that believe “Clinton ran a surplus”.

     

    5th November 2015 at 9:18 am

  21. Rob says:

    “Then God said: ‘Let there be light;’ and there was light.” Genesis 1:3

     

    5th November 2015 at 9:18 am

  22. Lysander says:

    Government is a crime syndicate that differs from traditional organized crime (ie: the mafia) in it’s size and it’s sophistication.

    The government uses our money to hire spin doctors to tell us how the government is legitimate. It uses our money to take more money from us. It uses our money to suppress us. It uses our money to perpetuate the illusion of stability and we give our silent consent to what the government is and what it does by voluntarily giving them our money and thereby, our trust.

    If you want to be a martyr for the cause, then stop paying taxes like Ann Barnhardt. If you want to go to prison for the rest of your life then organize other people to stop paying taxes. They would send Ann to prison but that’s secretly what she wants so she can be this generation’s Joan Of Arc.

    But you say you don’t pay taxes voluntarily, nor do you don’t willingly give consent because you don’t vote? When you fill the forms out to allow the company you are about to work for to take taxes out, then you have knowingly given your consent. Voting is pointless.

    I don’t have an answer. I just hope whatever is going to happen, happens violently and soon.

     

    5th November 2015 at 9:30 am

  23. Drumwaster says:

    Iconolast421, you do know the difference between “debt” and “deficit” right?

     

    5th November 2015 at 9:30 am

  24. Administrator says:

    A Bearish Warning From The Pending Home Sales Report

    The warning signals are coming from several sources now. Many major MSA’s have gone from apartment rental shortages to oversupply with more supply on the way; Sam Zell recently unloaded a big chunk of apartments from his flagship REIT – a repeat of a move he made in 2007; housing prices have been dropping for the better part of the last year in several MSAs – 30% All Homes Lost Value Last Year; large investment funds are now starting to unload large portfolios of homes that had been structured for high yields from rents but have significantly underperfomed.

    The crux of the problem is that the Fed’s massive stimulus of the mortgage market, combined with increased Government subsidization of FNM/FRE/FHA mortgage programs, accomplished no more than temporarily stimulating a small bounce in homebuying. But a large portion of this homebuying was done by “investors” and flippers. That ship has sailed as housing prices, contrary to the calculus reported by the Case-Shiller index (which Robert Shiller has admitted in the past is flawed) have been declining in most cities since the spring. Flippers are now finding themselves stuck on homes that they are unable to flip unless they are willing to eat loss.

    I explore the significance of the latest Pending Home Sales Index report, which has now declined in 3 or the last 4 months in this Seeking Alpha article: Pending Home Sale Indicating The Bear Is Back. This is true despite the fact that the Government just allocated more taxpayer support by rolling out a zero-down mortgage program for the low-income demographic. As I discuss in this article, mortgage subsidies won’t help a population that can’t earn enough income to support the monthly cost of home ownership.

     

    5th November 2015 at 9:33 am

  25. elmo says:

    Neocon’s fault …. how original. How refreshing. And ever so helpful.
    Now that we’ve re-established blame (for all the world’s ills). Upon the Joo’s.

    I’d say fook off. But I’m not drunk. And don’t want to lose my posting privileges …. bwahahahahahahaha

     

    5th November 2015 at 9:44 am

  26. DRUD says:

    Thanks, Admin. You should have it.

    There is no rest for the wicked. Hangover recovery in progress from my desk at work.

     

    5th November 2015 at 10:22 am

  27. gm says:

    Crap , Ty DRUD, now I know why I cant put toghether a coherent thought when im posting , lol its the beers fault !!

     

    5th November 2015 at 10:23 am

  28. DRUD says:

    It IS all the booze’s fault. I will certainly never do Thought of the Day…all that will come out in that time frame is mental diarrhea….see above.

    Maybe, with a little polish I can come up with something worthwhile,

    gm:

     

    5th November 2015 at 10:27 am

  29. Bea Lever says:

    Admin- Per USA Today………US .Gov launches NO RISK retirement plans. HA HA HA HA!!

     

    5th November 2015 at 10:42 am

  30. Bea Lever says:

    DRUD- I predict you will recover from your binge at near free-fall speed.

     

    5th November 2015 at 10:44 am

  31. EL Coyote says:

    No way, Bea. A hangover is forever, or so it seems. Nowadays, the only way I can induce vomiting is by getting the flu shot.

    Welcome back, Drud. When does the old lady come back from Montefrio land?

    The sexy mulatta says her sister got strip searched at the LAX because according to their excuse, the monitor has random false alarms.

     

    5th November 2015 at 12:13 pm

  32. Administrator says:

    Mortgage rates move higher on concern Fed may lift rates

    By Steve Goldstein

    Published: Nov 5, 2015 10:00 a.m. ET

    WASHINGTON (MarketWatch) — Mortgage rates moved higher on concerns the Federal Reserve will lift interest rates next month, Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 3.87% in the week ending Nov. 5, up from 3.76% last week, in the biggest rise since June. The 15-year fixed-rate mortgage averaged 3.09%, up from 2.98%, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.96%, up from 2.89%, and the 1-year Treasury-indexed ARM averaged 2.62%, up from 2.54%.

     

    5th November 2015 at 1:10 pm

  33. Homer says:

    Look dear readers, when you’re faced with an apocalyptic, life changing event created by bad choices, very bad choices on the part of government playing God, and there’s no way out of the consequences of these bad choices, you have to lie.

    “When things get serious, you have to lie.” That’s the mantra. Actually you don’t have to lie. Lying is just the attempt to evade the consequences of your actions. Lying like masturbation is what everyone does and nobody admits to. But…lying on the part of government carries dire consequences above and beyond what you are lying about. Decisions based upon government lies leads to economic mal-investments and further poor choices.

    Your leaders are self serving, first and foremost. Their feet must be held to the fire. America has been trained away from thinking, bribed with government handout, and corrupted spiritually. Is there a comeuppance in store for these rascals?

    Iceland jailed their bankers and corrupt politicians and are on their way to honest sustainability. America is far from understanding what’s happening to them. 50 million Americans are on the government handout list. “Robbing Peter to pay Paul will always have the support of Paul.”

    It is not till America is on precipice of destruction, I fear, will America wake up and change.

    Are we really, truly on the “Eve of Destruction”? Many who post here think so, what do you think???

     

    5th November 2015 at 12:54 pm

  34. Administrator says:

     

    5th November 2015 at 1:06 pm

  35. Homer says:

    DRUD, interesting! …”the Sun will go nova in 4 billion years”… So, whats to worry about? Hahaha
    That will certainly settle the issue. Hahaha

    Myself, I don’t belong to no organized religion, I’m a Baptist. For those dear readers wondering whether Baptists are an organized religion or not, it’s a joke.

    I don’t know whether Christians ” …say that they, and they alone, understand the mind of a God…”. One most assuredly have to be greater than God to understand Him, Her or It. (take your choice) Anyone speaking in such terms should be automatically dismissed for displaying such egomaniacal
    hubris.

    I kinda think of knowledge like a Time Line, past-present-and future. There is point in the past that’s unknowable, the things we think we know in the present and a point in the future that’s unknowable.

    I part with a word from one of my favorite American humorists, Will Rogers.
    “It ain’t what we know that’s the problem. It’s what we think we know that just ain’t so.”

     

    5th November 2015 at 1:36 pm

  36. Homer says:

    Admin–There are many versions of “Eve of Destruction” on the internet and you have chosen the best one. It has great graphics.

    When I heard it for the first time, it brought tears to my eyes. Hearing it again, again brought tears to my eyes, as it always does.

    I love my children and I love my family and I love the good people around me. I see in this clip a poignant contradiction in what America professes and what America is. It saddens me so. What’s going to happen to us? We had a choice to be the leader to the world and instead chose to be the oppressor to the world. I still have hope we can right this wrong.

     

    5th November 2015 at 1:52 pm

  37. Administrator says:

    “But he saw too that in America the struggle was befogged by the fact that the worst Fascists were they who disowned the word ‘Fascism’ and preached enslavement to Capitalism under the style of Constitutional and Traditional Nativist American Liberty.”

    Sinclair Lewis, It Can’t Happen Here

     

    5th November 2015 at 4:31 pm

  38. Administrator says:

    “The TPP is a disaster for jobs, and environment and our democracy. It is the latest stage in the corporate capture of our society. TPP has less to do with selling more goods, than with rewriting the rules of the global economy in favor of big business. Like the NAFTA Agreement it will be very good for the very richest, and a disaster for everything and everyone else. NAFTA entrenched inequality and caused massive job losses in the USA, and TPP is turbo-charged NAFTA.”

    Nick Dearden

     

    5th November 2015 at 4:31 pm

  39. Homer says:

    I guess Ross Perot was right about NAFTA. That big sucking sound is your jobs leaving America. Of course, the Ideals of America left the American people for international corporate interests, long ago.

    Thanks Bill for NAFTA. I’m sure your vote had nothing to do with you being filthy rich after you got out of office. You might remember this if your contemplating voting for Hillary.

    But don’t worry gov will take care of you if you lose your job, and you can continue to play your guitar on the beach and get your monthly payola. All is well in Corp-ora land.

     

    5th November 2015 at 4:49 pm

  40. Homer says:

    People without jobs don’t buy things. They steal things. So, what’s up with the corp shipping jobs out of the country? Who’s goina buy their stuff?

    Maybe it’s not about that, maybe it’s all about control no matter what happens to the people or the world. Are we headed for the ‘Dark Ages’, again?

    “It’s better to rule in Hell than to be a servant in Heaven”.

     

    5th November 2015 at 4:56 pm

  41. rhs jr says:

    In 1972, David Wilkerson wrote about his open vision of the end times which had a couple economic clues. A false boom would precede the crash; the dollar would appear to be gaining strength; economic actions in Europe will trigger the crash but American politicians and bankers will be blamed. Later he supposedly told his congregation a Mediterranean or East European country would default, there would be a bank run in Europe, Japan would crash and Mexico within 2 weeks, a world run on US banks during a holiday and they will close for about 6 months. Durables will pile up, POTUS will give a speech but nobody will believe him and there will be a revolt at the polls. Then this but I have big doubts. Uriah Akinmojo: “On June 8th 2015 I believe the Lord told me when I see the Dow Jones close out a day or week at 17,958.26 this will be the beginning of the “downturn of the bull market”, He said because of “two masters” (Matthew 6:24). God said this will start us on the path, going up to destruction.” Obama and the BRICS are both working on our downfall. Many modern prophets have spoken about natural and social disasters (legal pot & homos, riots), war etc but virtually nothing about economics or the timing. Many questions remain but we are probably weeks to a couple years from the crash.

     

    5th November 2015 at 5:01 pm

  42. Beano McReano says:

    God said He puts the MOST BASEST of men in power. When are you going to start believing Him?

     

    5th November 2015 at 6:25 pm

  43. EL Coyote says:

    Iska Waran says: …you’re looking for a shitfest. Is that slang for some kind of gay orgy?

    Iska that’s a TBP term for a gay rumpus but there’s no daisy chain involved, folks only ream your ass figuratively.

     

    5th November 2015 at 6:56 pm

  44. EL Coyote says:

    Beano McReano says: God said He puts the MOST BASEST of men in power. When are you going to start believing Him?

    Citation please. The closest I can think of is – But God chose those things that be fond of the world, to confound wise men; and God chose the feeble things of the world, to confound the strong things;

    [But God chose those things that be foolish of the world, that he confound wise men; and God chose the sick things, or frail, of the world, that he confound the strong things;]

     

    5th November 2015 at 7:03 pm

  45. Johnny rigel says:

    The whole thing is a scam. If the Treasury can create money how can the government have debt?
    Remove the corrupt Fed and debt goes away. No need of a middleman here

     

    5th November 2015 at 10:23 pm

  46. jamesthewanderer says:

    I’m not sure I understand exactly, but the rhyme goes something like this: the Central Bank of a country (for the US, the Federal Reserve) is not supposed to buy the securities that country issues: most folks would figure out (eventually, perhaps over a few years) that if your left hand is buying the securities the right hand is issuing, then there’s something really wrong going on – if your securities are worth something, then outsiders (think Japanese, Chinese, Russians, Germans, whoever else) should be willing to buy them for the return they offer. Otherwise, the Government is issuing debt (T-bills, T-bonds, etc.) which it then prints up the money to pay off – a fool’s game, as money can always be printed just as fast (or faster) than debt can be issued. This falls apart when the money becomes worthless (as it does in numerous examples throughout history).
    The Fed previously avoided this trap by a mechanism called Primary Dealers – entities outside the government (such as Morgan Stanley, Goldman Sachs, etc.) who would buy the securities at auction as they were issued, and resell them to pension funds, private investors, etc. at a profit. This worked well for quite some time – but as Zero Hedge and others have noticed, a few years back the Fed began buying the securities back from MS and GS, at a small loss, as part of QE. This should have led to an immediate collapse in the value of the dollar, but “all the other guys” (most notably Japan, but many more as well) were doing it too. Which led to an existential philosophical problem: if everyone is depreciating their currency simultaneously as fast as practical, what do you invest in? Worse, the “stock market” was supposed to lead to “price discovery”, the REAL value of a security, through open buy-and-sell trades: any security was worth whatever the market was willing to pay for it. But when the governments are buying back their own securities with freshly-minted digital dollars and yen and so on, what does “value” even mean? How do you price something when both the market and the currency used to buy it are manipulated for political reasons?
    This will not, CANNOT end well. I have no advice worth giving, since I’m not a financial expert; but if the game is rigged, the chips are worthless and the dealer is crooked, why would you want to play?

     

    5th November 2015 at 11:02 pm

  47. fear & loathing says:

    a fools fool i am. i really believed we had a serious problem in 1980 when we hit the first trillion, that is hard to visualize in thousand dollar bills. i have been out of step for so long, surprised i have any friends. in the 70’s i hoped the blue collar folks would take two days off, then uncle sam may give us a little respect. now i am ready to see santuary states sprout up and disregard the law, an only answer to their voters. reject fed funding and and their bribes. this country had 13 soverign nations in 1787 sounds good to me, paris peace treaty spelled that out. let the yankees do their thing and let us southerners the same courtesy. do your thing, you are most welcome to go as far bernie as you desire, just leave us alone without bloodshed.

     

    6th November 2015 at 1:55 am

  48. Administrator says:

    U.S. budget deficit widens in October to $136 billion

    By Robert Schroeder

    Published: Nov 12, 2015 2:00 p.m. ET

    The federal government ran a budget deficit of $136 billion in October, up 12% or $15 billion from the same month last year, the Treasury Department said Thursday. Spending in the first month of the fiscal year was $348 billion, up 4% from October 2014. Total receipts were $211 billion, a 1% decrease.

     

    12th November 2015 at 2:21 pm

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