CONSUMER DEBT DEFAULT
The 'offical' economic numbers and unemployment numbers are fiction, at best. Why are we bombarded with fairy tales instead of being treated like adults and being told the truth?
- One theory has it that any electorate stupid enough to put these poltroons into power are not adults.
Unemployment. Nearly one-in-four males between the ages of 25 and 65 are unemployed...put another way: have no job at all.
- Even more lack full-time jobs, yet that is certainly NOT the party line being pushed in the media. Besides, what could possibly go wrong with the 'party fighting for the little guy' ...the Dems (C) looking out for them? Look at unemployment figures under different Congresses, and consider that the Dems (C) have been in control since 2006.
Economy. Giving the 'impression' that things are getting better, the FED reports that credit card balances in 1Q fell by $19.5 billion. Great news, huh? Things can't be all that bad if people are paying their bills!
- Not mentioned are the FDIC numbers that reflect $18.7 billion of that $19.5 billion had been "written off." Borrowers (consumers) defaulting on debt makes for depressing and 'bad' news, so it's glossed-over. The numbers are out there, you just have to dig for them yourself.
This concept of massive consumer default on debt segues nicely into "the plan" for the US...Government debt default.
GOVERNMENT DEBT DEFAULT.
You may be under the impression that government debt is the safest place to be (holding government bonds, treasurys), right? Take a look at the frequency with which governments default on their debts. Just like the consumer who borrows too much money and cannot hope to pay it all back, governments have displayed the same mentality.
Sovereign default, governmental debt default, is an implicit policy of purposely disregarding debt.
- Stimulus has not worked, but it really wasn't meant to 'work' in the first place...it WAS only meant to 'look' like something was being done while the political class and the 'connected ones' helped themselves, and no one else. Certainly not you or I.
- The massive levels of debt now being piled-upon our backs isn't 'meant' to be paid back. The math guarantees it cannot be paid back. Keynesian money creation merely delays the end game a little while, but when the debt holders figure out the debtors won't be paying them back it will suddenly screech to a halt and it will be game over.
It was DEBT more than anything else that made the sun set on the British Empire. Failing to learn from history, it will be Uncle Sam's turn next.
- To paraphrase the words of the immortal Maggie Thatcher, we will soon learn that the problem with socialism is that you eventually run out of other people's money.
Wednesday, 14 July 2010
Defaulting on debt............from Rico
Tuesday, 13 July 2010
IDF Merkava MBT
The Merkava (מרכבה Chariot) MBT is the main battle tank of the Israel Defense Forces (IDF). The "Merkava" name was derived from the IDF's initial development program name.
Design: The Merkava MBT is optimized for crew survival and rapid repair of battle damage. The Merkava MBT uses spaced-armor techniques and quick-replacement modular designs in which the design team was able to incorporate composite armor, a derivative of rolled homogeneous armor (RHA) and Chobham armor. The space between the inner and outer hulls of the Merkava MBT is filled with diesel which is an economical storage method and a means of defeating HEAT rounds.
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3rd Front!
Sweet!"...Until now, those advocating military action against Iran's nuclear installations were found mostly in Israel and among the neoconservative lobby in Congress and its sympathizers in think tanks and the media.
"...In recent weeks, the ranks of those who concede the inevitability of a military showdown with Iran's theocracy-cum-military-regime have widened to include normally less bellicose politicians and their military friends.
Jello Shooters Rock! by GrEaT sAtAn"S gIrLfRiEnD
Chilling Thoughts
Sobering thoughts from Eternity Road:
Making Amends: A Mini-Manifesto
Making Amends, Part 2: The Writing on the Wall
We posted two similar items at the Reb:
and
Planck's Constant: The Coming Economic Collapse
Well . . . . prayer couldn't hurt.
Imperial Valley Press Apologizes to Marine Iraq War Vet Nick Popaditch
I've got two on this:
See, "Imperial Valley Press Mocks Injury of Decorated Marine Vet and GOP Candidate Nick Popaditch."
And, "Imperial Valley Press Apolgizes for Sick Cartoon Villifying GOP Candidate and Iraq Vet Nick Popaditch."
Also, at Michelle Malkin's, "Mocking War Hero Nick Popaditch: A Teachable Moment."
More blogging at American Power.
IAN FLEMING, FATHER OF BOND
Many of the stories, locations, and tidbits in the Bond novels were culled from Ian's real life experiences . . .
. . . . . . . . . . . . . STORMBRINGER
News.............
No habla Ingles? DWI laws don't apply to you!
The End of Britain as We Know It
An index of posts on self defense .... & original sources
DaleyGator DaleyThought: Forgeting our Founders
Giant unmanned airships to patrol Afghanistan skies for up to three weeks at a time
Nato chief: Afghanistan timetable puts British troops at risk
Long-range Taranis drone unveiled
Murderers 'to escape' automatic life sentences
A New Zealand man is recovering from surgery after being shot in the buttock by his dog.
Fidel Castro returns to Cuban TV
Chinese rating agency strips Western nations of AAA status
Secret gold swap has spooked the market
Female Czech MPs pose for calendar
Drunk tourist hospitalised after attempting to ride crocodile
and finally....
World's best appetizers
The 7 types of guys that ruin pick-up sports
Amazing Videos of Movie Scenes and Video Games Recreated Using Lego
10 Scenes in Sports Movies That Really Jack You Up
A new, updated, Dr. Seuss book.
I do not like this Uncle Sam,
I do not like his health care scam.
I do not like these dirty crooks,
or how they lie and cook the books.
I do not like when Congress steals,
I do not like their secret deals.
I do not like this speaker, Nan ,
I do not like this 'YES WE CAN.'
I do not like this spending spree,
I'm smart, I know that nothing's free.
I do not like your smug replies,
when I complain about your lies.
I do not like this kind of hope.
I do not like it, nope, nope, nope!
H/T Nebraska Bob
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Retirement...different THIS time?...............from Rico
For many, retirement WILL be very different this time. It will be 'worse' for them than it is now!
In the "Great Depression" at least people were situated to be somewhat self-sustaining, quite a chunk of the population lived on farms and had the skills to be able to continue eating.
In todays "Recovery" very few people live on farms, and even fewer can manage to grow a pot of petunias in a window-box, much less feed their family (or anyone else).
So when I hear the talking heads and teleprompter readers saying "we're fine, it's DIFFERENT this time" I have to agree. It WILL be very different indeed. It will be far worse.....
The latest reserch by the EBRI (employee benefits research institute) indicates that:
- one third of workers have NO retirement savings.
- one third of workers have less than $25,000 in retirement savings.
Put another way, for two thirds or more* of the working population (as in post-Rhodesian Zimbabwe) the new royalty will be the relatively scarce effective farmers.
- I say 'or more' because even IF you have saved paper money for retirement, devaluation-debasement and/or hyperinflation will equate to: "you can burn piles of paper, but not eat it."
Monday, 12 July 2010
Sunday Afternoon at Bill Barber Park in Irvine
I love the place. I took my youngest boy out to play for a little while yesterday afternoon.
At Colonel Barber's Wikipedia entry:
William Earl Barber (November 20, 1919 – November 30, 2002) was an officer in the United States Marine Corps awarded with the Medal of Honor for his actions in the Battle of Chosin Reservoir during the Korean War. With only 220 men under his command, Barber held off more than 1,400 People's Republic of China soldiers during six days of fighting. Despite the extreme cold weather conditions and himself suffering a bone fracturing wound to the leg, Barber refused an order to leave his position fearing that a retreat would trap 8,000 other Marines. Barber and his limited number of men killed over 1,000 enemy troops; only 82 of his men were able to walk away after eventually being relieved.Below, at the heart of the facility, is the hill-top flagpole memorial. And the weather was breezy and mild:
Latest Episode:
Top Gear's latest offering with the Aston Rapide, Maserati Quatroporte, and Ugly Porsche thing. Also a couple of hot muscle cars.
Watch it here
Moving backward...............from Rico
"Back to the Future" was a cute movie, but 'back to the past' is a hard economic reality, and it's NOT cute.
Great "recovery" we have going here kids!
- Well, at least FTV and the MSM along with the current mis-Administration call this a recovery.
It sure is "change"...just not the kind you dummies thought you were going to get when you foolishly put a Marxist-Muslim manchild into the pResidency!
We are about at the same level as 12 years ago economically....ah, the marvels of socialism.
The S&P is now 31% belowits Oct 2007 peak.
Oct 2007 was 33 months ago...almost 3-years for the fiddytooer's.
Nice work knuckleheads!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Five of the best sentences you'll ever read
1. You cannot legislate the poor into prosperity by legislating the
wealthy out of prosperity.
2. What one person receives without working for, another person must
work for without receiving.
3. The government cannot give to anybody anything that the government
does not first take from somebody else.
4. When half of the people get the idea that they do not have to work
because the other half is going to take care of them, and when the
other half gets the idea that it does no good to work because
somebody else is going to get what they work for, that my dear
friend, is the beginning of the end of any nation.
5. You cannot multiply wealth by dividing it.
H/T 45 Govt
Before and After Pictures........
Broken Bow Nebraska. This is what hail and high winds can do to a crop.
H/T Nebraska Bob
