Posted on 01/01/2015 1:58:06 PM PST by blam
January 1, 2015
Dr_Jeff_Lewis
The next generation will look back at the current period with utter astonishment. The archives will be riddled with debates and all manner of euphemisms for what led to the collapse of the world’s first and last fiat reserve currency.
It is a process well underway. Take a look at two seemingly unrelated, though current, economic-financial trends: Food stamps and subprime.
The case of spending compared with risk. Food assistance is but a tiny tributary broken off from a massive river of denial.
Subprime represents the nadir of ‘risk-on’ fueled monetary euphoria. Spending that comes from money that does not exist. Why, when the next bubble bursts, they will need to step in even more.
Of course, it’s not exactly an efficient form of spending:
As The Daily Signal reports:
(http://dailysignal.com/2014/12/22/how-much-was-misspent-on-food-stamps-in-2014/?utm_source=twitter&utm_medium=social)
This year the U.S. Department of Agriculture misspent $2.4 billion on food stamps, according to a November report from the USDA Office of Inspector General.”
“Misspending” means the USDA gave a household either more or less food stamp benefits than it should have received. Historical data shows most misspending results in overpayments.(What’s even more incredible is the dollars misspent on food stamps equates to at least 10% of the dollar value of available above ground silver).
One of many potential triggers - enough white noise to agitate the Ponzi - is back. This can’t end well.
Why Everyone Is About To Rush Into Subprime Mortgage Debt (Again)
If there is one thing the investing public has 'learned' in the last few years, it is 'no matter how bad the fundamentals, if it's been working, buy more of it'. And so, it is with almost certain confidence that we should expect a resurgent flood of yield-chasing muppetry into no more egregious idiocy
(snip)
(Excerpt) Read more at marketoracle.co.uk ...
Also:
MARK CUBAN: 'The Student Loan Bubble Is Going To Burst'
"Mark Cuban thinks colleges are going to go out of business."
The price of meat is astonishing. The only reason I can think of for the last of hue and cry is that food stamps isolates a good percentage of the lower income folks from the impact. It is left for the lower middle class to suffer in silence. Not like Moochelle is going to worry about us carnivores.
lack, not last.
” And within the housing subprime is back with a vengeance. “
I don’t know where he is getting that.
He was on Real sports with Bryant Gumbel he getting tore new one by Bryant about it
Drought in the south and west was a big factor in driving up beef prices in 2014.
This guy is so depressing that I could not get through his babbling. Hyperinflation is a death wish that liberals invented.
Right, but you’d expect the gibsmedats to be screaming about the price of hamburger - and they’re not.
True, what the author said about subprime, though. There are monstrous amounts in worthless derivatives out there.
I’ll take small amounts of deflation any day.
Must need to boost numbers or sales on his silver investment. I have a funny feeling he didn’t go into to the medical profession to help people.
Well you’re right, that’s probably why that particular crowd isn’t complaining. We get to be their meal ticket.
One of the largest promoters of the food stamp program is agribusiness. It’s disguised corporate welfare. They sell more when the low income contingent has money that they are compelled to spend on food. So our big business friends are more than happy to have the rest of us make sure that that money is available and spent.
hyper self ping for later digestion.
I think of Sheldon and Leonard and Howard and Raj. Then there are Bernadette and Amy and God forbid Leslie Winkle.
They all receive salaries from university. do they collectively pay their own way? It would seem the bureaucratic pyramid is so large and dense there is no way to calculate the cost or benefits
Penny and Priya and even stuart are the only ones paying their own way
They should, and he's right, they will eventually go out of business. Public as well as private colleges, with their vast expanses of lawns and stately buildings are obsolete. And they cost a fortune to maintain. Most kids today can get a college education by taking online courses with maybe a once-a-week, in-person class with the instructor. In some cases even those classes could be online using video teleconferencing. Parents are already figuring out that history, psychology, journalism and the other liberal arts majors are a waste of money. The liberal arts programs will go first, along with their overpaid professors. I can't wait to watch this happen.
The Big Bang Theory of Economics. Let me play along.
Leonard is an experimental physicist, and Howard is an aero-space engineer. They’re never shown teaching classes — so they get their money through research grants. Research money for the hard sciences is a big revenue generator for research universities. They’d be the last ones the university would fire — and, even then they’d likely do quite well in the private sector, or (say) DARPA.
Raj (astrophysics) and Sheldon (theoretical physics) would have a tougher time. Their work isn’t closely linked to real-world commercial applications (in the short term). They would be more likely to see research funding dry up. OTOH, if universities and colleges have to retrench, because of economic realities, it will be the liberal arts, humanities, and various “grievance studies” programs that take the biggest hit. The STEM (science, technology, engineering and math) courses will continue to be supported. Most graduates of STEM courses have no problem repaying student loans. There is an ongoing shortage of Americans with STEM degrees. Most of the Rajes and Sheldons out there will be able to score teaching jobs.
Bernadette works for a pharmaceutical company. She won’t be let go, so long as she continues to crank out lucrative patents. Amy is also a scientist — she’ll do as well as Sheldon and Raj.
Priya will make a ton of money suing big banks. Stuart will ride the comic-book wave to wealth (as millions of unemployed twenty-somethings rediscover comic books and graphic novels).
Did you just discover that show?
what about Leslie Winkler?
As I near 73 I have learned from Dr Cooper......
“The best number is 73. Why? 73 is the 21st prime number. Its mirror, 37, is the 12th and its mirror, 21, is the product of multiplying 7 and 3... and in binary 73 is a palindrome, 1001001, which backwards is 1001001.” Dr Sheldon Cooper
btw...... we had the privilege of 3 days in Victoria back in May
Been a fan from the start.
I was just treating the characters a bit like archetypes, — which is what I think bert was doing.
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