Without doubt, some of the trillions of dollars thrown into the economy by the federal government are filtering through to consumer spending. In addition, an ever greater percentage of mortgage holders have decided to ignore their mortgage payments and condo maintenance obligations. The sudden windfall of extra cash has pumped up spending. But is this a measure of real economic recovery?
Fed Chairman Ben Bernanke says the economy is stable. Many people believe him. But, at the same time as he advertises economic recovery, Bernanke tells us that short-term Fed rates will be kept at zero "for an extended period." Why would he risk runaway inflation by holding interest rates down if the economy were truly rebounding?
Furthermore, despite creating and spending these trillions of new dollars, the Fed continues to resist heavy Congressional pressure to show the public where the money has gone. Rumor has it that some of the money went to institutions outside America. In today's world, can we trust the central bank?
Government pronouncements and the Wall Street media have been castigating Greece for prolific spending and false accounting. Other nations such as Ireland, Spain and Portugal are considered pending dangers to the international monetary system. The fact is that, based on deficit to GDP ratios, the UK (12.6%) lies third behind Iceland (15.7%) and Greece (12.7%)! The United States (10.6%) lies sixth behind Ireland (12.2%) and Spain (11.4%)! The risk of an international meltdown is no longer restricted to banks. It now threatens entire nations, including the great powers. The price of gold reflects just a part of this risk.
Unfortunately, the economic position of the United States and the member states of the European Union, excluding Germany, is not as healthy as our media and politicians would have us believe. The danger is even greater when measured against the relative security and economic success of China, India, Brazil, Australia, Canada and New Zealand (BIC-CAN). In such countries, economic growth and financial responsibility are real. At home, I'm afraid the reports of our recovery are greatly exaggerated.More Here..
Treasury Dept. Taking Donations To Help Pay Off Debt?
More Here..
Glad to be the first... This is garbage. Peter Schiff is no genious.. While yes a good trader, no genious. 2ndly.. the fed will take handouts and belive it or not there a few "patriotic folks" who actually do donate and the get a few million in gifts a year.. it has nothign to do with needing cash. they'll take money where it comes from just like u.. besides the article about the fed accepting gift came out like 4-6 months ago.
ReplyDeleteThere are some major imbalences in the world that might get ugly if it comes unwrapped too quickly. but i want to make it known, bernanke is one person who has studied the great depression like no other.. the govt stimuli back then stopped being dished out in what would be 2014. Things where just different then. The world jumped into major protechionist mode... Were individual banker profiteering from gloom.. sure.. Germans bought some 200million worth of oil from jp rockerfeller. But the world moved on from the ills of WW!!, including mulit nukes.
also, everyone who bought a home between 2001-2007 rightfully needs to ditch it. this is a rare event that happens from time to time when a sector overheats and resets. they old owners move out. banks drop the price. new owners step up and over time the prices rise again... No were not completely out of the woods yet but the dudes at the top levels know well about hyperinflation and that is still i potential threat but the string puller are pulling the right strings to get things moving again. Dont be see single minded as to there being only 1 outcome. The poor always get royally screwed both financially and intellectually. its is sad but all i know is i am long the mrkt and making good money. And its completely fine for ppl with extra cash to spend it on junk like ipads n phones since there is no more morgatge. it doesnt make sense but that is just how the world works.. its all gonna be fine.. I do wisely suggest prepare for the worst but no need to freak the fuck out. get a grasp.. go read the Economist. its written to the education level of someone who has a full highschool degree. its thick material but VERY accurate and responsible reporting.. I would like to see the creator of this blog bash Jon stuart, who acknowleges end of the world scenarios, just the ones that are real.
819 nice propaganda, but you are wrong. What you should have said is people with arm rates should dump their homes, those with fixed rates with good down payments who are working and paying down the mortgage should stay and stick it out. You must work for some lackey org, or you are a govt drone, either way you are spewing propaganda, everyday I watch the news for laughs, they are like you, deluded and brainwashed.
ReplyDeletehey i suggested u do prepare for the worst... i am preparing, but i dont think things are going to get bad.... Market dont rise like this just because of good earnings from companies like aapl.. small and mid cap, and commoditys are in high demand because earnings are showing it. Sorry but the stock market is never wrong. there are enough people looking at every statitistic entire teams looking over this shit. its all gonna be fine for the next 6-12 months.
ReplyDelete9:11 the stock market is driven by stimulated injected cash. What world are in living in? This was done in the 1930's to a 'T". Nothing is fine, its being propped up so idiots like you can go deeper into debt.. to create a drone shaped debt slave. This is intentionally done so the slave drones will never rebel against the kingdom.
ReplyDeletePeter your diagnosis is right on your prognosis to get us out of this mess is right on.Your pragmatism is right OFF!!!!.Do you really think this cabal of corrupt political elites are going to come to the party admit they erred and adopt a new fiscal Paradigm.Get real Pete if you get in youll be like Churchill prior to WW2 a lone wolf in the political Wilderness.
ReplyDeletePeter you know your stuff but I think your highly naive if you think the elite are going to inaugurate a plan that removes the trough for themselves and creates enormous short term pain for the average America.
Personally I think a lot more bad things will have to manifest themselves before the "Right thing is done."
lets begin by voting out our Resident Presidential Socialism and ego tripper.Then remove all incumbents.Before that a viable 3rd Party will have to be created with teeth.Just replacing demos with reps is analogous to tweedledum tweedledum..nothing would change.You just be replacing several bad apples with other lip serving bad apples.
The solution is far from easy.The Usa will be in deep Depression for many years to come despite all the flowery bullshit deceminated by mainstream media..remember those green shoots.
If these 2 parties are permitted to do ci do much long the United States will experience growing civil disobedience and political extremism.The recent Arizona anti illegal immigration legislation last week is just a sampling of ominous things to come.Can you spell Totalitarism--War is Peace.For the General good of society minorities must sacrifice fundamental rights etc.
I say take all the banksters and scumbag bottom feeding Federal and State politicians that have been proven complicite in this takedown of American and ship them all to Somalia and let their sociopatithic self centered asses rot to Hell!!Better yet..no cant say that online.
America will come out of this stronger ...eventually.
God bless America.
Meanwhile, while the television and Controlled MSM press talks about economic recovery and green shoots the crime rate in Detroit and many other areas is becoming a serious threat to society to the degree local government wants the National Guard to come in. Not that that would help anything, because the first thing the National Gaurd does in any area is sketch out their own local payday.
ReplyDeleteGod Bless America. The most ignorant phrase of them all. If there were a God he surely would not 'bless' a country of selfish, ignorant, torturing, killing, warrior dip shits on a tiny, tiny planet among billions of solar systems. Mind control and programming, you got to love it.
ReplyDelete@8:19, Do you even know how to spell?
ReplyDeletePeter Schill, I mean Schiff, is not any smarter than your average bear, and like all the other pumpsters and dumpsters has a product to sell to suuport his extravagant lifestyle........not worth a plug nickle in my book
ReplyDelete10:21.... ur right on.. haha. God bless america! haha
ReplyDeleteSorry Peter. Canada is in the same boat. Trust me.
ReplyDeletepeter is right on the money
ReplyDeletewith that said anything outside buying gold and prepareing
he should have shut up.
i believe since running for office he has towned
down his message.
only until we have complegte collpase will the system change.
we are in the fog and many will lose it when they find out the party was over years ago.
A government that has exploded in obligations cannot stay sustained...It becomes like a snake eating itself.
ReplyDeleteThat's where we are...Throwing fake electric (About 80-90% of all dollar currency is electronic)...Which we borrowed from a huge bank owned by other banks to pay for the obligations we have right now...Just a chain of fools...Till one day the music stops.
For example: I work for the State of California...Before being a contractor or supplier to the state was the road to richness...You could overcharge/underwork and get well paid on a steady basis...Now being a contractor or supplier to the State is almost a Kiss of Death...Because suppliers aren't being paid on time...Inventory and auditing is FINALLY starting to happen...Now being a contractor means surviving long enough to get paid.
That's what the Feds are doing...Pretending all is good sending checks out and till one day some governments or large corporations decide not to risk getting stuck with them then BAM!
Game over...Chaos...I myseelf see that coming no matter what dadndy news they put on...As for those anti-schiff people? WTF? How many times does this guy have to prove you wrong? true he expected a huge rise in gold and drop in stocks and it never happened but seriously are you telling me theres a logic beyond manipulatiion of the stock market to explain it?
It's like your mad because he's negative about things you know are fucked up...You expect him to salute and march along to the kool aid table without telling people..."Don't drink the fucking Kool-Aid!"
Oy vey!
From the first post:
ReplyDelete"its written to the education level of someone who has a full highschool degree"
Based on your choppy grammar, contradictive and incoherent arguments do you even have one of those?
Oh and to 9:28:
"America will come out of this stronger ...eventually.
God bless America. "
You must be living with the brain you had in the 1960s or 70s right?! No friend, America is not ever going to come back, I don't have any disrespect towards patriots but when they talk like that you start sounding superstitious (God is somehow going to make sure America always prevails)... it's like saying science, history, and/or viewpoints don't evolve, terminate, or adapt. Look at the amount of scientists who still think Darwin made a correct model of evolution, or those who still think the Big Bang occurred and that's how everything came into play. Both theories have been trashed by modern discoveries yet many still cling to them in the same manner people who weren't informed of more advanced conceptions thought the Earth was flat. America's done dude.
Americas done dude is right. No superstition or vanity will stop that.
ReplyDeleteExcept...
ReplyDeleteAmerica will stand!
The south will rise again!
America!
*breathes deep the purple mountain majesty*
Every 6 months or so I write this & it just keeps on being true - maybe I should start a single themed newsletter.
ReplyDeleteHow the Fed can prop up the fiat dolar forever
and beyond!
They Can
They Have
They Will
They do NOT NEED any other country - only the U.S Citizens to accept said fiat paper.
As long as that continues to happen
They can PRINT A TRATZILLION DOLLARS
AND WILL
IF THINGS WERE IMPROVING,THE FED WOULD BE PULLING BACK ON MONETIZING .INCREASED GDP IS PART STIMILUS AND PART DEVALUED DOLLARS PUSHING PRICES UPWARD. UNDERLYING PERSONAL AND COMMERCIAL DEBT IS ENORMOUS AND GROWING,WITH THE CONTRACTING VALUE IN RESIDENTIAL AND COMMERCIAL REAL ESTATE. THE WEIGHT AND ENORMITY OF THIS DEBT IS ACTING IN A SELF PERPETUATING BLACK HOLE. THE GOVT. IS BORROWING TO HAVE US BORROW. THIS IS A CONVERSE TO WHAT WOULD BE NEEDED. THE SOLUTION WOULD BE MANY DRACONIAN MEASURES, NONE OF WHICH WILL BE IMPLEMENTED. IF THE GOVT. ATTEMPTS TO BRIDGE THE 1.8+ TRILLION BUDGET DEFICIT WITH A TAX GRAB,THE FREE MARKET FALL WILL QUICKEN. THIS WILL REQUIRE THE FED TO INCREASE THE RATE OF BORROWING IN ORDER TO MATCH THE BOTTOM ENDS. WE CAN PREDICATE THIS SCENARIO ON THE CONTINUATION OF TREASURYS BEING PURCHASED FROM OTHER COUNTRIES. IF FOR ANY REASON,AN INTERUPTION OCCURS,THE FED WOULD HAVE TO RESORT TO THE PRINTING PRESS. THERE IS YOUR YOUR SELF PERPETUATED CALAMITY. THE STOCK MARKET IS A REFUGE FOR BANK BORROWED FED CASH AND FREE MARKET CAPITAL. THE ECONOMY AND THE MARKET HAVE ALWAYS BEEN MUTUALLY EXCLUSIVE. WHATS HAPPENING ON THE GROUND ,NOW ,IS A CONSORTIUM OF MANIPULATION BY THE EXECUTIVE BRANCH AND THE FEDERAL RESERVE. 1929'S BLUEPRINT THROUGH GRAPHS COMPARED TO THE PRESENT IS VIRTUALLY IDENTICAL.THE DOWN SIDE NOW OF COURSE IS THE POTENTIAL DESTRUCTION OF THE RESERVE WHICH WAS NOT THE CASE IN THE 30'S. THE FED IS MANEUVERING FOR SELF -PRESERVATION AND COVER FOR CONNECTED POLITICIANS. iT'S A BUY TIME GAME. THE COMMON MAN IS LOCKED IN STEERAGE WHILE FIRST CLASS HAVE OCCUPIED THE LIFE BOATS AND ARE ROWING FOR REFUGE. THERE'S NO WAY AN UNDERSTANDING PERSON COULD BELIEVE THAT THROUGH THE EGREGIOUS AND WRECKLESS ACTIONS OF THIS PAST DECADE ; THE ONLY CONSEQUENCES WOULD BE A DEEP RECESSION.!
ReplyDeleteI think none vanity can stop that.
ReplyDelete