( – promoted by buhdydharma )
Okay, I got something really good coming down the pipes, actually doing a little investigative reporting. Seems there were some fronts used in the subprime market that are of very questionable legality. But more on that later, today I am gonna scare the living shit out of you.
I’ve heard a lot about American Depression this, Holy Fuck Our Money Is Worthless that, but where is the data?
Where are the charts?
Where is the pure information that will prove we are not over a barrel, because we can’t even afford the barrel anymore?
Well, folks, here it is. Take a drink, hit the bong or prozac up like a suburban soccer mom, because here we go into the rabbit hole:
All these charts are from the Financial Ninja, his notes are on the charts, not mine. These charts are direct from the Federal Reserve.
If you don’t read Financial Ninja, I suggest it, he always has great research, saves me a lot of time extracting bullshit like I am about to scare you with.
http://benbittrolff.blogspot.c…
So here we go!
Total Borrowings are up from around $16 billion in December to $46 billion in February, almost a 200% increase. Both historical records.
Like an 80s retrofad, we have gone Less Than Zero.
You’d shit a brick if you saw this graph with the $45 billion included.
YES, $45 BILLION. Poof! Gone off the books! Must be sweet to be king.
All abroad the fail train! Next stop Deflation, with local stops to Stagflation and Bushvilles.
Why save? If savings account rate is below that of the inflation rate, you actually lose money saving it in a bank.
Locusts, the locusts are coming. At the end of the day, the ruling elite will walk outof this country and probably to Dubai with all the money they have looted from the American public.
Good thing they had a pretty cool distraction going while they looted us.
You know, that whole Iraqi War thing?
51 comments
Skip to comment form
and this unavoidable seismic shift will end up devouring the bad guys.
and most of the rest of us? we’ll walk away from all the bullshit that’s been enslaving us and live leaner and i’d guess more vibrant lives.
okay… back to reality:::
but it does burn me a little. like Clinton/McCain/Obama don’t have a clue about this looting as they go on breathlessly talking about providing health care. paid out of what bank account?
what i’d love to know is where would our social security money be right now if it had been privatized. although you’re gonna say what fund? looted too…
….wages are still directly correlated to productivity, and productivity in the US is still very high.
but there is no analysis of these charts here or on Financial Ninja
yesterday. He did a spot on how the economic conditions we have, particularly when it comes to credit and housing, are today almost identical to 1931. He whipped data out of everywhere, showing how the housing crisis that had developed for the three years prior had caused a major catastrophe, playing a large role in the Great Depression. He showed how the same conditions have been playing out over the past few years.
He also talked about the way to get out of this crisis. (Hint: it’s not “let’s go to war!”)
He doesn’t have an audio archive available yet. I recommend checking his site in a couple days to listen to it. http://www.thomhartmann.com/in…
pt – Congrats!
Just wanted to let you know that StumbleUpon is going crazy on your Bush Sippy Cup essay. Over the weekend we had about 500 SU referrals and about 250 or so from reddit. I thought that was pretty good. Today, starting about 9 AM (PDT), and up until right now we’ve had over 3,000 page views on that essay.
Checking Sitemeter I think we have had more visitors than I’ve ever seen on a single day. Your page probably accounts for half of today’s traffic.
Me likey! And good for you too!
What, if anything, did you do to influence this result?
http://www.reuters.com/article…
is that the Great Depression did not just occur in the US. It effected economies all over the world.
I have not given up hope, but I fear that too much time has past to effectively see our way through this greatest of all challenges. Human civilization’s task ahead may just be too great to get 6.6 Billion people (2 links)on the same sheet of music. Scientific, industrial, and technological advances will no longer occur as they have, and if not preserved, could very well be lost.
However, what really frosts my goat is that with all the challenges that lie ahead, a few corporate fascist MFers have reframed reality for this whole unique geophysical time period that will NEVER, EVER, in the history earth, be repeated. We can not even debate, discuss, or attempt to solve how to go forward, because the usurpers stand in the way, throwing sand in every ones eyes keeping them from noticing the truth. And our supposed “friendly leadership” (Democrats) knows this truth and STILL they have chosen to ignore it.
It’s not just about the Constitution, it’s about a World in the Balance.
Now would be a good time to load up on everything you can with credit because you can just pay it back with worthless paper in a while.
My horses are getting more valuable every day. I’m going to give all my animals an extra hug tomorrow because, after all, we are not that far apart anymore.
pfiore8 is so right – the politicians know what is happening to us.
… of the symptom with the disease that is normal with macroeconomic analysis built on a foundation of traditional marginalist economics.
Regarding SAVINGS, one short question: So What?
That is, financial savings are not required for investment in actual productive capacity. All that financial savings represent is wealth accumulation … accumulation of claims, almost all held by the wealthy, on a slice of the income generated by the productive sectors of the economy.
Indeed, better to not accumulate that financial wealth if we are so intent on reducing our production of real output and shifting our economy’s ecological footprint to China, and via China to Africa.