"we go until they don't move anymore"
Posted on 03/22/2010 12:28:05 AM PDT by happygrl
The Truth is that we now require about $5 of debt to generate $1 of GDP.
The Truth is that the reason you were not asked to approve $700 billion to capitalize 10 new banks, thereby creating seven trillion in lending capacity is that the economy cannot soak up that new lending capacity; each dollar of new debt generates almost no aggregate GDP. If this were not true then that would be the logical and effective cure for the 'credit crunch" - if the borrowing capacity and impact on GDP necessary to help existed. They do not.
The Truth is that you were lied to about the purpose of the TARP/EESA, because what you were sold was mathematically impossible. It is supposed to be unlawful to lie to Congress.
As I pointed out at the time, the reason they didn't create that $7 trillion in new credit issuance is that there was no more capacity to take on new debt in the private sector.
They lied about what "had to happen" for stability to be restored.
They lied because the alternative was that their friends - powerful friends - would have to go bankrupt.
But it gets worse.
Bernanke and Paulson, and now Geithner, know that this attempted "reflation" won't - and can't - work. They have put forward this path not because it is the right thing to do, but because the alternative means a lot of people with power and money will go bankrupt and the Government of The United States will have to change how it finances itself, removing the corrupt influences that have been used to "cook" the books - and outcomes - for the last 30 years.
(Excerpt) Read more at market-ticker.denninger.net ...
THAT is the beauty of it.
I feel so much like Francisco d'Anconia. I fully get it. The rage and the desire to see it all destroyed rather than fund and prop up the looters. I can not wait to see it all crash down and I hope to do whatever I can to hasten that collapse.
"we go until they don't move anymore"
We will either break apart, become an Empire, or fall like Argentina.
“Watch the sparks fly at that point. And....my friends government bankruptcy is right around the corner!”
I’m doing my part - upped my tax exemptions to the highest I could by law. Directed more pre-tax dollars into my health care slush fund and 401K at work; ANYWHERE you can stash pre-tax cash will help.
I suggest everyone else do the same. Read a tax table (Fed and/or state.) See how much they expect to steal from you this year...then double down, live as far below your means as you can, pay off any debt that you have, stash cash, silver, gold and lead. Barter for what you need when you can. Plant a garden, or enlarge the one you already have.
I started doing this years ago; my family has the means to weather this storm.
Starve the Beast! :)
MSNBC and CNN were obviously full of joy last night.
This makes me ill
http://www.cbsnews.com/video/watch/?id=6320924n&tag=related;photovideo
State’s Rights is an immediate part of the answer. The taxes that are mandated would be stopped by individual states declaring that their residents are not subject to them. Throughout the New Deal there were 10th Amendment challenges that the Supreme Court denied on precedent rather than the Constitution. So the point is, get the challenges going on state level, stop the taxes NOW and turn off the spigot. Just like the states that have no income tax have no withholding of money for an income tax. So check the map and get to those states, then drive the truck right into the heart of these oligarchs.
Good points. The Grasshoppers are coming for the Ants lifetime savings of grain. Which in the story, meant the Ants had to fund a mercenary army to destroy the Grasshoppers.
More like putting four more torpedos into the Yorktown as she's rolling over for the last time.
Don’t go down the hole. Pour in gas and light it and wait for the kaboom
That’s the way to exterminate yellow jackets. It should work for a rabbit hole as well.
Bookmark.
adding to this the importance of who our judges are now...who expects to leave...and how will Obama’s new appointments affect and weigh the SCOTUS...and how long the republicans can keep them dangling out there.
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