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On Our Fraudulent Economy
The Market Ticker ^ | 02.19.2009 | Karl Denninger

Posted on 02/19/2009 7:15:54 PM PST by KoRn

click here to read article


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To: RockinRight
There PEs are about 1/4. For the most slandered, more like 1/12. No, not 4, not 12, their reciprocals. Citi is cash flow positive to the tune of its entire market cap, every month.
21 posted on 02/19/2009 7:52:01 PM PST by JasonC
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To: Harrius Magnus; mojitojoe; Pelham; mom2twinsn2; LongLiveTheRepublic; ConservativeOrBust; ...
The Peter Schiff Redistribution Watch Ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

Nice Rant. Here's a Link to the entire article to save you a click: On Our Fraudulent Economy

His conclusion : "Our economy must contract to a sustainable level - period. This is not a matter of what we want, it is a matter of what is possible. A bubble economy built on fraud cannot be reflated once it pops and the fraud is exposed at the level to which it occurred in this case. It is simply not possible.We must deal with the underlying rot in our financial and political systems, and until we do in a forceful and forthright fashion we will continue to see economic malaise and destruction. Wake up America.

22 posted on 02/19/2009 7:55:53 PM PST by sickoflibs (Keynesian Economics : "If you won't spend your money WE WILL!")
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To: RockinRight
RE “Yup...and I think in the process, the GOP regains control of the House in 2010

I have learned not to be optimistic. but what you are saying is the 1993-1994 scenario again.

Which brings me to some painful facts:

1) Republicans in power too long become corrupt, just like democrats
2) a president has an irresistible urge to spend borrowed money to create a legacy. The media demands it and the public has very high expectations.

These are two facts that cannot be easily dismissed , the second one is more problematic because republican presidents are blamed for everything.

These two things killed us, party and capitalism

23 posted on 02/19/2009 8:05:00 PM PST by sickoflibs (Keynesian Economics : "If you won't spend your money WE WILL!")
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To: JasonC

I may decide that this place is too small and cramped, or perhaps want to relocate to somewhere less leftist than Maryland.

I really didn’t plan to stay here till I’m 52 years old.


24 posted on 02/19/2009 8:06:58 PM PST by RockinRight (How do you like your Savior now, libs? Looks like Jimmy Carter is no longer the worst President...)
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To: Dick Bachert

Where did you find that pic of Barny Frank from last Friday night?

I heard it was one hell of a party. According to rumors, Travis the chimp was there.


25 posted on 02/19/2009 8:07:28 PM PST by KoRn (Autumn Has Come To The Tree of Liberty)
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To: JasonC

Which, if my investment brain is working, that they’re undervalued?


26 posted on 02/19/2009 8:08:49 PM PST by RockinRight (How do you like your Savior now, libs? Looks like Jimmy Carter is no longer the worst President...)
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To: RockinRight
"I can’t even read this sh*t anymore...it makes me question why I even bother going to work every day."

I quit/retired, 12-31-1994, at the age of 50. I haven't worked a day since. I don't owe anyone anything.

27 posted on 02/19/2009 8:17:07 PM PST by blam
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To: blam

I’m 31...and while my wife and I have a reasonably low debt to income ratio, I’m still nowhere near being able to retire or say I don’t owe anyone anything!


28 posted on 02/19/2009 8:23:27 PM PST by RockinRight (How do you like your Savior now, libs? Looks like Jimmy Carter is no longer the worst President...)
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To: RockinRight
"I’m 31...and while my wife and I have a reasonably low debt to income ratio, I’m still nowhere near being able to retire or say I don’t owe anyone anything!"

I was 30 and had been laid off for a year when I got my last job and decided to retire at 50. From then on, I was know as a 'tight-wad' even by my PhD son who is 41 this month and plans to do the same.

29 posted on 02/19/2009 8:30:53 PM PST by blam
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To: Candor7

Conservatives have the brains and the skills. Liberals are the babies. Really sucks to be losers.


30 posted on 02/19/2009 8:32:38 PM PST by VRWC For Truth (Throw the bums out who vote yes on the bail out)
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To: RockinRight

Well, it’s the Obama Depression isn’t it. Guys aid he could fix it.


31 posted on 02/19/2009 8:39:04 PM PST by muawiyah
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To: KoRn
If you liked THAT one, you'll LOVE this one!

And THIS WAS one HELL OF A PARTY!!

Photobucket

32 posted on 02/19/2009 8:39:36 PM PST by Dick Bachert
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To: RockinRight

“I can’t even read this sh*t anymore...it makes me question why I even bother going to work every day.”

-I love this. If Obama thinks he has problems now, wait until the actual productive members of this society stop trying and turn their attention toward fixing this country by extra-Constitutional means.


33 posted on 02/19/2009 8:44:50 PM PST by johnnycap
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To: KoRn

Nothing will happen until the average idiot can’t get his NASCAR and Lite beer anymore.


34 posted on 02/19/2009 9:10:52 PM PST by B-Chan (Catholic. Monarchist. Texan. Any questions?)
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To: Dick Bachert

ROFL!!!!!!!!!!!!


35 posted on 02/19/2009 9:12:51 PM PST by KoRn (Autumn Has Come To The Tree of Liberty)
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To: johnnycap

You got it.


36 posted on 02/19/2009 9:17:29 PM PST by unkus
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To: VRWC For Truth

Conservatives have the brains and the skills. Liberals are the babies. ****Really sucks to be losers.****
_____________________________________

Bawney Fwank loves being a loser.


37 posted on 02/19/2009 9:19:54 PM PST by unkus
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To: KoRn

A most excellent article. Thanks! I agree with the premise. As the great Mogombo says “we’re freaking doomed”.


38 posted on 02/19/2009 9:50:02 PM PST by Jack Black
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To: Fee

Do not despair. There was a recent article about the Great Depression in the 1930’s. People who had jobs (75 percent)actually lived well versus the 25 percent that were unemployed. During the Depression, things got cheap. People who had jobs were able to buy things that were unaffordable during prosperity. Key thing is organize your family and street to survive the downturn. Read a story how a farmer during the Depression took on relatives/friends who lost everything and together worked the farm, shared the chores in return for food and shelter.
____________________

Victor Davis Hansen in Pajama’s media
Excellent piece


39 posted on 02/19/2009 9:56:18 PM PST by dennisw (Archimedes--- Give me a place to stand, and I will move the Earth)
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To: RockinRight
They are undervalued, unless the populist moonbats seize them tomorrow at gunpoint in order to pretend it is all some rich guy's fault. Which, see, they might. Sorta why they are cheap.
40 posted on 02/19/2009 10:01:39 PM PST by JasonC
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