March starts on Sunday!
FReepers, Let's GIT_R_DONE!
Posted on 02/26/2015 5:41:52 PM PST by Red in Blue PA
The fact that the market is anticipating that the Federal Reserve will raise interest rates, yet the yields on the 10- and 30-year Treasurys are falling is an indication of how weak the overall global economy is, former Fed Chairman Alan Greenspan told CNBC on Thursday.
In fact, effective demand is extraordinarily weak, he said.
"The way I measure it, it's probably tantamount to what we saw in the later stages of the Great Depression," Greenspan said in an interview with "Closing Bell."
That said, he acknowledged "it's not anywhere near what the problems were back then but we haven't seen anything like that since then."
(Excerpt) Read more at cnbc.com ...
Nothing has been fixed. It’s the printing and bond buying that has kept the economy from crashing. What happens when those bonds need to be paid back?
We have been in a depression for six years. EBT cards,deficit spending, and the Fed expanding the money supply has taken the place of soup kitchens, bread lines and the WPA.
All the QE in the world can’t get past Dodd-Frank and Team Obama.
We are in GDII.
GDI wasn’t called The Great Depression until the 1950’s.
We are in GDII.
GDI wasn’t called The Great Depression until the 1950’s.
Actually, I meant WDI and WDII
WWI was called the Great War until World War II. And WDI was called the Great Depression until World Depression II.
From inflation/deflation to taxes/death (war)…there is no end to the machinations of money masters and their co-conspirators in CONgre$$ in keeping the debt slaves distracted.
5. As the novelty and bustle of inaugurating the government will for some time keep the public mind in a heedless and unsettled state, let the press during this period be busy in propagating the doctrines of monarchy and aristocracy. For this purpose it will be particular useful to confound a mobbish democracy with a representative republic, that by exhibiting all the turbulent examples and enormities of the former, an odium may be thrown on the character of the latter. Review all the civil contests, convulsions, factions, broils, squabbles, bickering, black eyes, and bloody noses of ancient, middle, and modern ages; caricature them into the most frightful forms and colors that can be imagined, and unfold one scene of horrible tragedy after another till the people be made, if possible, to tremble at their own shadows.
6. But the grand nostrum will be a public debt, provided enough of it can be got and it be medicated with the proper ingredients. If by good fortune a debt be ready at hand, the most is to be made of it. Stretch it and swell it to the utmost the items will bear. Allow as many extra claims as decency will permit. Assume all the debts of your neighbors - in a word, get as much debt as can be raked and scraped together, and when you have got all you can, “advertise” for more, and have the debt made as big as possible. This object being accomplished, the next will be to make it as perpetual as possible; and the next to that, to get it into as few hands as possible. The more effectually to bring this about, modify the debt, complicate it, divide it, subdivide it, subtract it, postpone it, let there be one-third of two-thirds, and two-thirds of one-third, and two-thirds of two-thirds; let there be 3 percents, and 4 percents, and 6 percents, and present 6 percents, and future 6 percents. To be brief, let the whole be such a mystery that a few only can understand it; and let all possible opportunities and informations fall in the way of these few to cinch their advantages over the many.
7. It must not be forgotten that the members of the legislative body are to have a deep stake in the game. This is an essential point, and happily is attended with no difficulty. A sufficient number, properly disposed, can alternately legislate and speculate, and speculate and legislate, and buy and sell, and sell and buy, until a due portion of the property of their constituents has passed into their hands to give them an interest against their constituents, and to ensure the part they are to act. All this, however, must be carried on under the cover of the closest secrecy; and it is particularly lucky that dealings in paper admit of more secrecy that any other. Should a discovery take place, the whole plan may be blown up.
8. The ways in which a great debt, so constituted and applied, will contribute to the ultimate end in view are both numerous and obvious. (1) The favorite few, thus possessed of it, whether within or without the government, will feel the staunchest fealty to it, and will go through thick and thin to support it in all its oppressions and usurpations. (2) Their money will give them consequence and influence, even among those who have been tricked out of it. (3) They will be the readiest materials that can be found for a hereditary aristocratic order, whenever matters are ripe for one. (4) A great debt will require great taxes; great taxes, many taxgatherers and other officers; and all officers are auxiliaries of power. (5) Heavy taxes may produce discontents; these may threaten resistance; and in proportion to this danger will be the pretense for a standing army to repel it. (6) A standing army, in its turn, will increase the moral force of the government by means of its appointments, and give it physical force by means of the sword, thus doubly forwarding the main object.
9. The management of a great funded debt and a extensive system of taxes will afford a plea, not to be neglected, for establishment of a great incorporated bank. the use of such a machine is well understood. If the Constitution, according to its fair meaning, should not authorize it, so much the better. Push it through by a forced meaning and you will get in the bargain an admirable precedent for future misconstructions.
10. “Divide and govern” is a maxim consecrated by the experience of ages, and should be familiar in its use to every politician as the knife he carries in his pocket. In the work here to be executed, the best effects may be produced by this maxim, and with peculiar facility. An extensive republic made up of lesser republics necessarily contains various sorts of people, distinguished by local and other interests and prejudices.
11. As soon as sufficient progress in the intended change shall have been made, and the public mind duly prepared according to the rules already laid down, it will be proper to venture on another and a bolder step toward a removal of the constitutional landmarks.
Rules for Radicals? No, “Rules for Changing a Limited Republican Government into an Unlimited Hereditary One”
http://www.constitution.org/cmt/freneau/republic2monarchy.htm
Not to worry — 2015 will be the “summer of recovery”
The recovery is always over there.....just beyond the horizon.
Don’t see it? Keep looking.
Harder.
If they raise the rates, they're raising the rates on the 17-trillion the feral government owes.
exactly. Obama’s Great Depression is not as visible as the 1930’s because EBT cards and free breakfasts,lunches,dinners in schoolhouses...have replaced the same long lines for free food that used to queue up on the streets at public soupkitchens
out of sight, (or rather, at Walmart and the A&P and Safeway and Kroegers loading up on basketfulls of free free free foods).............out of sight, out of mind
but its still a Great Depression and there are still tens of millions of people without work (93 million was the last admitted figure I saw...the most unemployed in history)
Well, the obvious solution is to borrow and spend more.
Why? Simple—no interest on savings. Which depresses spending. Instead, the $$ is being used to pay illegals and people on disability/welfare. The former just wires the $$ home. The latter spends it on essentials (rent, food, etc), but not much else.
The Fed CAN’T raise interest rates.
Negative interest rates are a wealth tax without the Government having to bother to pass legislation.
“Printing money isn’t fixing the problem.”
“The answer is more money!”
“Socialism isn’t working.”
“The answer is more socialism.”
Are you crazy or just joshin' us?
Everyone on the planet know, with certainty, the US Taxpayer will not, in a million years, pay back $18 Trillion dollars...over $170k per taxpayer.
It just means that eventually, once the jig is up, there will be regime change and a new dollar.
That's a 100% guaranteed axiom in place since the beginning of time. As unalterable as the Sun rising in the east.
No National Regime has survived a currency collapse. Ever.
That's part of "change".
With green shoots and shovel ready jobs?
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