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New York Post Claims Census Falsifies Unemployment Figures
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US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
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Jobs For U.S. Workers Stripped Out of Stimulus Bill Behind Closed Doors - Update It Lives!
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Krugman Defines a New Economic State - Purgatory
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New York Post Claims Census Falsifies Unemployment Figures
- 950749 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
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Jobs For U.S. Workers Stripped Out of Stimulus Bill Behind Closed Doors - Update It Lives!
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Krugman Defines a New Economic State - Purgatory
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The Golden Rule
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Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
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New York Post Claims Census Falsifies Unemployment Figures
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How Many Jobs Are Needed to Keep Up with Population Growth?
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VAT or Value Added Tax is Getting a Look in D.C.
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U3 and U6 Unemployment during the Great Depression
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The war on the middle class
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House discusses 401k/IRA confiscation
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Tax Cuts for the Rich Do Not Generate Jobs
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The whole bloody world is over leveraged on loans to production, 10:1
Is because these agencies are *still* in a monopoly position as regards ratings.
Is that it isn't ONLY a fossil-source fuel.
YES, those are the proven fossil source reserves. But beating *all* of that is what you could capture just by tenting half of the factory farms out there.
US GDP is only $13 trillion.
Gross World Production is $65 trillion.
Thus, if the derivatives are in the $500-$700 trillion range, we're talking about a LOT of fake money out there that isn't based on anything at all.
"As far as the earlier comment on whether this new wealth inequality is fictional money....eh, does it matter when they have all of the power? But, very interesting question and I honestly don't know the answer to it."
If their power is based on a lie, and it becomes widely known that their power is based on a lie, then yes, it will matter when the guillotines come out.
Was only $13 trillion
I'll make sure the rest of this post gets threaded correctly.
I am always wary of stories that rely upon "It's different this time."
In fact, there are some indicators that do accurately "predict" the 1929-33 and 1937-38 depressions. I've discussed two of them in my immediately previous blog posts.
That being said, if you simply based a forecast on the LEI themselves without elaboration, you'd perform better than the great majority of pundits:
fun to be a contrarian no matter where that takes you. Just because the conventional wisdom has now embraced a big fall, doesn't mean its time to abandon it.
I'm not predicting armed revolution or mass starvation, but I think we're in for a recession bigger than the last few. And if it isn't, we're just punting the ball down the field.
PS: This site's captchas are tough.
That these bottoms coincide with other bottoms doesn't mean much to me. These are looking like extraordinary times.
If there is a paper rebound, it will be as phony as the last one and half as short. Too much job creation came from housing and housing-equity-financed consumption. Until you can explain to me the contours of a genuine rebound, I'm going to stay bearish.
Hey man, it's way more fun to try to imply Economic Armageddon, especially because we know the middle class is getting squeezed, almost regardless of a recovery.
All kidding aside, this is why you're a great read, the contraflow against the end of the world, really this time it is tide.
Last time around the creditors were American and European banks. Argentina has erased those most of those debts through bonds bought up by Venezuela. I'm not sure it's the same now.
They tried this previously and were stopped?
The insanity of putting an economic stability leveler into the biggest gambling casino of the world has been the ultimate stupid idea I've seen yet. You can bet the minute the stock market starts to recover we'll be hearing all of this again.
I wonder exactly how much retirement funds people from say age 30-50 have in comparison to 50-80?
I'll bet there s a huge decline that is exactly correlated when they started 401ks and it's a ticking time bomb.
The last time they did this was a prelude to a default. Foreign creditors would be negligent to ignore history this time around.
With that said, the salad days of people banking on the stock market to provide for their retirements are coming to an end.
that's probably a good idea for as you can see why the original comment, if you don't know who the minutemen are...well, ya do now.
Ok, let's all move on and get to what's happening on the economics front. There are hearings going on at the hill, most of it useless corporate driven testimony but a few gems.
mickwd1
In order to appease yours, or anyone else who may find some discomfort in the use of my by-line, "minuteman justice", I have eliminated its presence. While I prefer the topic to be history, I cannot help to still feel that something I stated was misinterpreted, or worse, that there is some confusion regarding a comment. Robert, you continue to reference the immigration issue. I have never commented on an immigration issue in my limited dialogue on this site.
I hope we can overcome this misunderstanding and move along with more insightful and helpful commentary. And, I appreciate any moderation by others on this topic.
Thank you.
Respecfully, sors
I saw this cartel formation yesterday, but
What about US natural gas? I thought the US has tons of natural gas to the point T. Boone Pickens is banking on converting autos to natural gas for the short term.
I found a comparison of natural gas reserves:
It seems they will be hitting Europe first and foremost on natural gas since the US should have enough supplies.
Also, are there any alternative fertilizers beyond ammonia, say from organic farming and so on?
Great educational blog post middle, I was completely oblivious and I grew up surrounded by corn fields.
u mean right?
As far as the earlier comment on whether this new wealth inequality is fictional money....eh, does it matter when they have all of the power? But, very interesting question and I honestly don't know the answer to it.
Fine by me, as long as he's aware that's the "illegal immigration invasion" rallying cry slogan. He says it means something else, fine by me. It does also stand for a group of comic book characters and a host of other things.
I'm done with the topic. There are certain "wedge" issues that I am hyper vigilant on because they will tear apart a blog and a consensus in rapid fire...and this is one of them.
Is only $65 trillion.
This market is 10x the real world wealth being created.
Robert- I think you're off on a tangent here. One admittedly caused by mickwd1's use of "miniuteman justice" as a byline, but he's yet to post the common agenda here, at least divorced from the economics of the matter.
With BIS saying that the world banks are over leveraged with respect to production by a ratio of 10x the derivatives to actual world production, how much of this gap is actually "real wealth", as opposed to "debt chimera"?
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