Wednesday, December 31, 2008


Russia invades Georgia and then, shortly after, oil prices tank. Insuring an economic comeback temporarily. Obama gets credit, then my generation retires and  the economy tanks for many years.

One theory anyway.

Of course the economy may not recover under OB and we kill each other scrambling for food at the local Walmart. How about hoarding a large supply in the closet next to your illegal Glock.

You're going to need it.

Too many broke dicks lose everything they own and they get a touch of envy. Bang you dead.

Got food stashed, guns loaded and car packed? I have plenty of room up here  in redneck heaven. Still have $45000 coming in. Walmart rules here at least a couple of more years.

You have to like snow, though. It has snowed here so far this season 13 out of 14 days. And another 7 days predicted ahead.

The summers make up for it. Fish like you wouldn't believe. No gang bangers though. Hardly any crime. Quiet. Cheap living.

Oh yea. No rap music!

The Oil Drum | Discussions about Energy and Our Future

Not any longer. Simply put, Russia is in trouble. Its much-ballyhooed $600 billion cash reserve base dropped by a quarter by Dec. 1, to about $450 billion, and even further since. Much of that has gone to bailing out banks, select oligarchs and propping up the ruble. But with no sign of an end to the global recession, Putin is allowing the ruble’s value to decline rather than pouring limitless reserves into the currency. This Wall Street Journal interview with down-on-his-luck oligarch Oleg Deripaska tells it extremely well. (Note to Barack Obama’s Russia team: South Stream is on hold for at least 18 months or two years; Russia doesn’t have the wherewithal to finance it; Nord Stream is more likely, but again financing will be a problem. That is an opening that was not present before the financial crisis.)

Monday, December 29, 2008

I told you so........

The government bought the Autos. A black hole if there ever was one. The Dems can not compete without union money.

Remember helium vendors? In case we needed  blimps to fight the next war?  We need these companies for the same reason.

Attacking Europe.

Hey! You never know. After all they will be Moslem entities.
The Great Debate » Debate Archive » Bush’s auto plan will test Obama’s union loyalties | The Great Debate |

Barack Obama owes organized labor a huge debt for his November victory. UAW President Ron Gettelfinger can be expected to try to sell Obama labor agreements that appear to create more concessions than are real and leave the Detroit Three in the red going forward.

Fooling Obama would create loans the Detroit Three never can really repay. The government could force payment at the expense of the next creditors in line—the large U.S. banks—but the federal government is already subsidizing their losses.

One way or the other ordinary citizens who don’t earn nearly the pay and benefits autoworkers receive would be paying taxes to subsidize their rather generous lifestyles, much as taxpayers are financing the bloated bonuses at large New York banks requiring federal dole to stay afloat.

Sunday, December 28, 2008

What more can be said.........

Click and read the whole thing. He only touches the extent of statism that has ruined our world.
Thank Goodness I Live in a Free Country by Don Cooper

I was talking with some friends over the Christmas holiday break and they were commenting on how lucky we are that we live in a free country where we have the liberty and the opportunity to live our lives the way we want and are not controlled by the government like in other countries.

So I started thinking about a particular day of mine a couple months ago:

I woke up in the morning in my FHA (Federal Housing Administration) approved home that was built in accordance with USDOE (Department of Energy), FERC (Federal Energy Regulatory Commission), and numerous CFRs (Code of Federal Regulations).

I went to the bathroom t

Saturday, December 27, 2008

I knew it.......

According to these nut jobs the dirty bastards did it on purpose! Saved all that money and bribed us to spend it on junk. No wonder were fucked up.

Can you believe these guys?

Personally sounds like ufo's are responsible. No wait bigfoot.

Yea those sons a bitches.
The Reckoning - Chinese Savings Helped Inflate American Bubble - Series -

WASHINGTON — In March 2005, a low-key Princeton economist who had become a Federal Reserve governor coined a novel theory to explain the growing tendency of Americans to borrow from foreigners, particularly the Chinese, to finance their heavy spending.

The problem, he said, was not that Americans spend too much, but that foreigners save too much. The Chinese have piled up so much excess savings that they lend money to the United States at low rates, underwriting American consumption.

This colossal credit cycle could not last forever, he said. But in a global economy, the transfer of Chinese money to America was a market phenomenon that would take years, even a decade, to work itself out. For now, he said, “we probably have little choice except to be patient.”

Friday, December 26, 2008

Written in 2006......

Oil was about $60 a barrel. This guy is on to something. Probably means shortages. Remember rice and beans missing on the shelves earlier this year?

Could be interesting as trucking companies struggle through the first quarter. Walmart's fleet is strong and stands to do great.

However, all bets are off on our competitors. Expect some to disappear as union contracts squeeze bottom lines.

Fertilizer shortages in march should pop up and scare the beJesus out of us. Getting food on the shelves is tied to a long line of trucks. I know. I drove food from California to Boston.

This could come to a screeching stop. Prepare now.

Remember, independent drivers went bust when diesel prices boomed. Some of these guys are not coming back. I would be surprised if my former employer is still in business with his two truck operation.

Neither will food imports come back. Foreigners will have their own  problems. Food riots sounds about right.

Oh yes. Get to Walmart and pick up any junk you didn't get last week. Everything is on sale by next weekend.

Kunstler's Forecast 2007

I will be so bold to say that I called the housing crash correctly last year, though the worst symptoms are slow to present for technical reasons. There's no question that the action on the real estate scene changed drastically in mid-year. The implosion of this mighty structure of fraud, folly, and misinvestment so far has taken place in such breathtaking slow-motion that its victims have not really felt the pain from the falling bricks yet. By late summer, buyers started evaporating. Real estate signs planted in lawns last June are still sitting there on New Years. Prices have come down a bit in many markets, including most of the hotties such as Florida, Phoenix, Las Vegas, San Diego, and Boston. But the buyers are still not bidding. Meanwhile, the sellers have dug in, determined to get something at least close to their wished-for inflated prices, egged on by their representatives, the realtors. This mutually reinforcing psychology cannot hold indefinitely. Many of these sellers don't have the luxury to wait around forever. Some have had to move to other houses in other places because of job changes, and are stuck paying two mortgages. Many are stuck with "creative" mortgages that all the evil ingenuity of the human mind conjured in recent years to enable the feckless to live above their means -- adjustable rate, payment optional, no money down contracts that suckered buyers into booby-trapped obligations whose initial low-interest terms lured them in and are now set to blow up in their faces as terms automatically re-set upwards to higher rates and "optional" deferred payments get backloaded onto the principal, putting the mortgage holders so far underwater on their contracts that a tour of the Titanic would feel like a day at the beach. Read the whole article

Tuesday, December 23, 2008

The AUW is now a ward of the Federal government.....

They should now survive as long as the government does.

Expect every Dem constituency  to get in on the band wagon. We'll be building electric cars with nowhere to plug them in.

Wait! Now everybody needs a subsidy for their own personal windmill.

Wait! What about all those bird deaths?

Wait! Give everybody a solar panel.

Wait! They will warm the planet and kill the polar bears!


Damn that Bush anyways.

What a country!

Monday, December 22, 2008

This rule is doomed........

But won't matter in a few years. My parents generation will need their stock market money  to eat. Old codgers with huge house and credit card payments can't continue to work for ever.

However, not to worry, it all comes to a screeching halt in the next 5 or 10 years anyways. I figure 9 out of 10 retirees will be spending their personal savings saving their children from the living on the streets over the next couple of years. Not much left except for their Social Security checks and government retirement checks robbed by consumer price index tinkering. These checks have got to shrink relative to the coming inflation to get us out of the Depression.

Somebody has to pay.

Yes children, Ob needs that magic wand a poppin' to save this mess.  And save his presidency.

Hilary and McCain will be sighing in secret relief as this crap continues to unravel.

Maybe we can elect Ron Paul  and pay off all those trillions of printing press money to save our ass.


The problem is that if the government changes the law they will have to fear we will finish  draining what's left of  the stock market. Therefor, causing the destruction of all private wealth left in the world. So we bail the financial system until it quits.   Either that or give everyone  in the country a government check.

Even Walmart. Ha ha!

Wait that is the plan. But where do we get the money? China is collapsing in '09. Who will buy our bonds? Broke OPEC? Remember $40 oil screws them big time. Of course saving that $300 or so billions every year would make a difference. Unfortunately for the world, we still rule militarily.

Look out small oil producing countries.

We are that broke.
Memo to Washington: Here's how to help retirees - Dec. 22, 2008

Don't force retirees to sell at the bottom. When you save in a traditional IRA or 401(k), you pay no taxes on the money you contribute and your investment earnings are sheltered from taxes during your working years. Once you reach the age of 70½, though, the IRS comes calling in the form of so-called required minimum distributions (RMDs). At that point you must start taking annual withdrawals from your 401(k) or traditional IRA (based on your life expectancy) and pay income tax on those funds. Fail to do this and the IRS will slap you with a nasty penalty.

Thanks to the vicious bear market, this rule is essentially forcing retirees to sell at the worst possible time. Even many ostensibly "safe" investments, like mutual funds designed to generate income for retirees, have plunged. Technically speaking, you can satisfy the law by simply transferring stocks, bonds or funds from your retirement account to a regular brokerage account. But you'll still owe taxes on the amount you transfer; as a practical matter, you may need to sell at least part of your investment to pay the taxes.

Sunday, December 21, 2008

Follow the money.........

50 billion stolen all by himself.

And they laugh at UFO stories.
The Catherine Austin Fitts Blog

I have started and managed several small businesses. It is hard to run one set of books for a small business. There are other people involved — not just the head of the company. There are bookkeepers, lawyers, accountants, regulators, tax preparers and auditors. The books have to be straight because so many people with so many different interests get in them. Brokerage accounts add another layer of complexity. Add money management and that is even more complexity.

And we are to believe that one guy could run a brokerage and money management firm with two sets of books and siphon off $50 billion? And no one knew?

This is the financial cover story equivalent of the yarn that a few devout Muslims hijacked two planes that hit skyscrapers that then magically collapsed leaving their passports and a copy of the Koran sitting on the sidewalk.

So…who has the $50 billion?

Saturday, December 20, 2008

Too early in the cycle for Depression.....

WE only have wait until my generation to starts taking out their money from the stock market to live on. We are still working but over the next 10 years we bail. No more tax incentives to stay in the market. To old and crippled to work. God knows Social Security can't keep us in the style we are accustomed to.

Goodbye DOW.

What results is that we have to take over oil countries to stave off the big "D".Printing and borrowing money will work for awhile, not well, but will keep the rich in power long enough to get the Empire off shore before we murder them .

Where it goes seems to be in question.

From Great Britain then to America, now where? I think they blew it by outsourcing our manufacturing. Even ruling classes make mistakes.

If not we would still be Romans.

History, remember that class?, reminds us that broke dicks only take over their energy, food, and real estate with military excursions. Not good plan for long. After a awhile it cost more in real wealth than we get.
In turn causing societal collapse and bad accents.

Of course, in truth, capitalism breeds it's own destruction. If you share the wealth too thinly you break you working class into competing for scraps. Your elites end up haggling for political advantage to get access to dwindling resources. Dog eat dog ensues.

On the other hand, keep the wealth to the elites and the working classes break out the the guillotines.

Not good for ruling class  if you know what I mean.

However, if your working class can be kept productive (IE making things) a society stay manageable. Instead of squabbling over welfare checks, bailout funds and government payola we invest in our future. Taking care of our children, old fogies, and damsels in distress.  keeping the elites in yachts, cigars and pyramid schemes.

Not bankrupting the universe if you follow me.

Those of us who supported the Empire I guess should of known better. People are people and they really never change.

Technically the word Depression is to prissy.

 Bet on China eating our  lunch. They got what it takes. Murderous elites. Unlike the Bushes, Clintons and Obamas these guys know how to straighten out the mud people baby.

It could be a "Dark Age."

RGE - Interview with U.S News & World Report: “The $700 Billion Bailout Isn’t Enough” and One Third Probability of a Japanese-style L-shaped Stagnation

Are we headed for a depression?

I don't believe we are going to be in a depression—we could end up like Japan that had essentially economic stagnation for a decade with deflation. You know, the "L"-shaped recession. At this point the "U"-shaped recession could turn into an "L"-shaped recession if we don't fix the financial system, and the credit crisis becomes worse and if we don't get a massive fiscal stimulus. So, a lot depends on our policy reaction. If our policy reaction is appropriate, by 2010 there will be some recovery of growth. The only risk is that the recovery of growth could be so weak that it feels like a recession even though we are technically out of it. So there is a risk of something like a Japanese-style, multiyear economic stagnation. I would not rule it out, but it is not my benchmark scenario. I think there is a one-third probability it will end up that way, but a two-thirds probability that we will end up in a severe, two-year-long recession. And that would be by any standard the worst recession that the U.S. has experienced in the last 60 years.

Friday, December 19, 2008

Bush passes auto bailout to OB.....

They got the money. What a bunch of stupids in Washington. Shows no one was serious about fixing the problem just passing the buck.

Here's how you give the car guys a big shot of help.....

Give everyone a voucher for $5000 good at any Ford, GM or Chrysler car dealership and let have it. Piss the Japanese off but what the Hell . They should join the AUW and bribe every some bitch in Washington and get their money's worth like every other asshole.

Any ways, my plan would give me a new 4 wheel drive Ranger (built by Japanese of course)  at about the same payments I have now. All I have to do is make a deal for cash back to pay off my Suzuki and trade in  my old Ford.

Hmm. Better write my Congress criminal and get 'er done.

Wednesday, December 17, 2008

Best explanation of Christmas ever given....

I'm always ready to piss off the fanatics heh heh. It's amazing how we get gulled into superstition and can't find a way out. Now, it's OK to be God-fearing but at least know your religions history. The story of the "Savior" is as old as mankind.

Yea I'm an old crank, what's your point!

Tuesday, December 16, 2008

Wait till December 26.......

Wally World will go nuts with sales. Have to get rid of a lot of stuff. Especially tvs. Some stores will be OK others will have overstock. Most competitors will be dumping stuff to avoid carrying into a bleak winter sales season.

Our store sales is off big time and we have to see if it's just procrastination or savvy shoppers. People are tightening their belts whether they want to or not.

The company took our normal extra 10% on one large purchase at Xmas time and instead gave us the discount on all groceries. I saved 40 bucks or so because of storing for the winter.

At the time they decided this  food prices were booming and big ticket items prices were set to plunge.  For me, it worked out better.

Watch TV and computer prices  and see what I mean this winter after the holidays. Let alone cars, RVs, ATVs, houses, etc.

Anyways, colder this year than in many years they tell me. Around zero or below. Got the place all sealed and ready. Expect electric bills to go up. Don't forget taxes as local governments and utilities scramble for dollars. Got a job? Pay up. Need to feed all those bureaucrats. When they plan budgets they don't expect us to fall into poverty. Just get bigger, hire more paper pushers, soak the wage slaves.

Oops. Running short of those. Unemployment over 7% with no end in sight after holiday slowdown. I guess it's better here than California, Arizona, Florida or fill in the blank.

Construction on the highways is all we have to look forward to. President OB will wave  his magic wand and by 2010 we'll have all the bridges and over passes contracted out.

Until then?

Fed just cut interest rate to 0%. Yawn. I can't wait to buy more houses and junk while waiting for the the opening at the homeless shelter. How do unemployed broke dicks buy anything unless we get $5000 or so in stimulus money.

Then what?

Maybe we'll find out.
Report: Half of holiday shopping remains undone - Dec. 16, 2008

NEW YORK ( -- With just over a week to go until Christmas, consumers have completed less than half of their holiday shopping - and millions have not even started yet, according to a report released Tuesday.

According to the National Retail Foundation's "Holiday Consumer Intentions and Actions" survey, holiday shoppers said they had finished 47% of their gift shopping by the second week of December. That represents a significant drop from the 53% of gift purchases completed at the same time last year.

Monday, December 15, 2008

Take the kiddies money.....

Got to be unconstitutional that casinos can't get money from people under age 21. Let alone the broke dicks who can't swindle someone to support these guys.

Next thing you know they'll have to close and get real jobs. What the Hell is that all about.

Read the last line carefully:
Casinos rolling snake eyes in bad economy - Economy in Turmoil-

Still, the real issue is not who is allowed to gamble. It’s whether they have the money to do so, said Jim Duncan of Highland Hills, Ohio, who travels to Erie, Pa., three times a month to play the slots at the Presque Isle Downs racetrack.

Even though wagers may be down in the poor economy, some gamblers have powerful incentives to try and hit a jackpot, said Duncan, describing a fellow bettor he saw at one of the Presque Isle machines.

“The person had an eviction notice in his hand,” Duncan said.

Kind of convenient don't you think......

Every few years we run out of oil, then we find more. All we need is a price increase or tax cut. This time the economy collapsed when it happened. No really.
Oil prices are set to spike again | Well prepared | The Economist

The cost of production is no more static than the price of oil. Falling prices for important raw materials, such as steel and natural gas, should help to bring down development costs. By the same token, the cost of hiring some kinds of drilling rigs is falling. The strengthening dollar also helps, points out Paul Sankey of Deutsche Bank, since that tends to increase oil firms’ dollar-denominated revenue relative to expenses in other currencies.

But according to Francisco Blanch of Merrill Lynch, the rising cost of capital is likely to outweigh all these benefits. Tar-sands schemes, like most oil projects, are very capital-intensive and so very sensitive to changes in financing costs. He believes that higher borrowing charges could push the cost of new tar-sands developments as high as $150 a barrel by 2010. So if demand for oil has started growing again by then, and if tar sands remain the source of marginal production, then the oil price will have to rise back to this summer’s levels to stimulate increased supply. “The age of easy oil”, warns the Emirati minister, “is gone forever.”

Sunday, December 14, 2008

We would kill for 4.4 % growth.....

BBC NEWS | Business | World Bank predicts global gloom

World Bank predicts global gloom
peasants in Vietnam
Emerging economies will grow more slowly in 2009

The World Bank has forecast a significant decline in global economic growth in 2009 for both developed and emerging countries.

In a report assessing economic prospects, the Bank has predicted that the world's annual economic growth will slow to 0.9%, from 2.5% this year.

The rate of growth for emerging economies is expected to be around 4.5%, down from 7.9% in 2007.

The Bank said a deep global recession could not be ruled out.

And its forecast suggests that, on a per capita basis, world growth would be negative in 2009.

Saturday, December 13, 2008

Kick back, read on, and shit yourself.....

Not taking any chances. Patti and I have spent about $500 this month on food because Wally World gave us a 10% discount on groceries.

Never know what will happen to the supply chain.

Times are going to be tough for farmers. Credit will be fucked up for awhile and grain priced have collapsed. Oil is nuts and so far the banks are holding all that bailout money for fixing their balances for the coming end of the quarter.

Remains to be seen whether this is just a blip in our economic history or the beginning of something bigger.

I'm hunkering down and watching the deflation make those of us with jobs better off. Gas hit $1.549 and no end to the bottom in sight. House prices for most and especially rents have come down big time even here in Idaho. Food prices have moderated. Pretty soon OB will give us a few more bucks and a free loan or two to get those cars and houses off the market.

Expect some taxes to go up as governments have to slash and borrow to pay their over extended budgets.

We would still be money ahead.

Of course, it could go the other way if OPEC collapses. Only a matter of time. Russia would be a their savior for awhile if they join but no one will be buying for the time being.

Somebody once said: "May you live in interesting times."
I thought he was bullshitting

8 really, really scary predictions - Bill Gross (2) - FORTUNE

The outcome essentially depends on the ability of the Obama administration to rejuvenate capitalism's "animal spirits" by substituting the benevolent fist of government for the now invisible hand of Adam Smith. Federal spending and guarantees in the trillions of dollars will be required to fill the gap created by the deleveraging of private balance sheets. In turn, lenders and investors alike must begin to assume risk as opposed to stuffing money in modern-day investment mattresses. The process will take time. Twelve months of the Obama Nation will not be sufficient to heal the damage of a half-century's excessive leverage. The downsizing of private risk positions - replaced by government credit - will also result in reduced profit margins and a slower rate of earnings growth after the bottom is reached.

Investors need to recognize these titanic shifts in market and public policies and be content with single-digit returns in future years. Perhaps the most lucrative pockets of value are in high-quality corporate bonds and preferred stocks of banks and financial institutions that have partnered with the government in programs such as the Troubled Assets Relief Program (TARP). While their profitability may be restricted, their ability to pay interest and preferred dividends should be unhampered. Above all, stick to high-quality companies and asset classes. The road to recovery will be treacherous.

Friday, December 12, 2008

Here's for all you global warming believers........

Here's a guy who agrees that we have global warming. He just believes the Gore followers are  just wrong on solving it.

Most famously we need to save the polar bear.

OK. Quit shooting them.

 Like abstinence it works every time. Oops, we don't need world wide governance for that do we?

Of course, we can't have that and we won't. All these guys have to do is pick our pockets to get 'er done. Right?

Lord OB will take care of it.

Bjorn Lomborg - The Facts about the Environment

Thursday, December 11, 2008

Read the comments from Nobel Scientists....

Global warming global baloney
.: U.S. Senate Committee on Environment and Public Works :: Minority Page :.

The UN global warming conference currently underway in Poland is about to face a serious challenge from over 650 dissenting scientists from around the globe who are criticizing the climate claims made by the UN IPCC and former Vice President Al Gore. Set for release this week, a newly updated U.S. Senate Minority Report features the dissenting voices of over 650 international scientists, many current and former UN IPCC scientists, who have now turned against the UN. The report has added about 250 scientists (and growing) in 2008 to the over 400 scientists who spoke out in 2007. The over 650 dissenting scientists are more than 12 times the number of UN scientists (52) who authored the media hyped IPCC 2007 Summary for Policymakers.

The U.S. Senate report is the latest evidence of the growing groundswell of scientific opposition rising to challenge the UN and Gore. Scientific meetings are now being dominated by a growing number of skeptical scientists. The prestigious International Geological Congress, dubbed the geologists' equivalent of the Olympic Games, was held in Norway in August 2008 and prominently featured the voices and views of scientists skeptical of man-made global warming fears. [See Full report Here: & See: Skeptical scientists overwhelm conference: '2/3 of presenters and question-askers were hostile to, even dismissive of, the UN IPCC'

Wednesday, December 10, 2008

gee ya mean these guys have no influence on their local politicians?.....

You have to read the whole article, but basically we are talking nepotism. Starting with Kennedy all the way through with Jessie Jr. You'll be hearing a lot about Jr. Everyone is so surprised and shocked he would have OB's seat sold to him by the Gov of Illinois. Shocked!!!
The American Spectator : The Tainting of the President-Elect

The Tainting of the President-Elect

By Jeffrey Lord on 12.10.08 @ 1:05PM

Wait a minute.

"I had no contact with the governor what...."

That's the money quote from President-elect Obama in his first comment on the arrest of Illinois Governor Rod Blagojevich for trying to sell Obama's Senate seat. What was that "what" about to become before Obama stopped himself in mid-sentence in front of the cameras as Al Gore and Joe Biden sat by, stonefaced? The word "whatsoever" perhaps? In which case, did the new president stop himself because he knew that to say "no contact whatsoever" was something that would be provably untrue? According to a now hastily retracted statement by aide David Axelrod, the president-elect had indeed "talked to the governor" about the vacancy.

Monday, December 08, 2008

I figure Ob takes the guns within 1 year....

Who's going to stop him?

Every big city and virtually all big state governments are  now in the possession of Washington elites. Usually referred to as Liberals. They have routed fiscal conservatives. They've won. Every one agreeing with them will be on bailouts. Those who oppose will be simply vilified and ignored.

Dems do it all the time with highway or school funds.

Libs have been plotting for years for this unbridled opportunity. Their plan is and has been simple: give everybody a check then threaten to take it back. Fall in line or cut off money to anyone who disagrees with them.

Very few politicians and government officials can stand in their way because the economy will suck. wait a year or so and see.

Unemployed or frightened constituents don't put up much of a fight. And with the cities turning into poverty filled Hell holes who can blame them.

Many of us can remember the 60's and the widespread big city riots and lawlessness. That's when  the Dems got the Republicans on board and poured money into these rat holes to staunch the violence.

They also ramrodded  draconian and unconstitutional gun laws through various legislatures. One side effect was that people who defended their property went to jail or were sued by criminals shot in the act. Criminals when caught went on vacation at taxpayer expense.

Ever hear of "white flight?"

Didn't fall out of the sky and bite us in the ass. As the media reported minorities robbing and shooting each other white folks bailed from the cities creating huge  losses of  taxes and spending.

In effect taking out the inner city economies.

Big mess for Washington. This eventually ended up as a guarantee of power for Libs. The cities were bailed out. Leading to today's unspoken mantra: vote for me and you get your check. Vote for the other guys and they take away your benefits. Good old class warfare.

Guaranteeing  these people became in effect, slaves to Government largess. This became the norm in politics where the government divides the loot from our paychecks and gives it to their constituencies.

Why else would anyone vote for these guys. You think the system is on the up and up? I think it's obvious that our government consists of competing gangs usually financed by rich insiders who manipulate the system to their advantage. Every once in awhile, a Ross Perot or a Ron Paul comes along and puts the fear of God into them. But these distractions don't last long.

However, what it looks like from the outside is that maybe buying off minorities is self defense after all. Keeping them out of our neighborhoods seems like government policy. 

Whether it's politically correct or not. This has become the norm. Take care of the turf and the turf takes care of you.

Here in redneck heaven Idaho we simply watch these people and shake our heads. Who wants anything to do with the government anyways. They steal your money and give it to crooks and bums who bribe them and their families.

Piss them off and it's Waco or Ruby Ridge, Idaho.
Congressman Ron Paul - Gun Control: Protecting Terrorists and Despots - Texas Straight Talk

In our own country, we should be ever vigilant against any attempts to disarm the people, especially in this economic downturn. I expect violent crime to rise sharply in the coming days, and as states and municipalities are even more financially strained, the police will be even less able or willing to respond to crime. In many areas, local police could become more and more absorbed with revenue generating activities, like minor traffic violations and the asset forfeiture opportunities of non-violent drug offenses. Your safety has always, ultimately been your own responsibility, but never more so than now. People have a natural right to defend themselves. Governments that take that away from their people should be highly suspect.

, ,

Sunday, December 07, 2008

I think speechless fits here....

China Confidential: America's Cruelest or Dumbest TV Anchor

America's Cruelest or Dumbest TV Anchor

Dateline USA....

His name is Tom Brokaw. On Sunday's Meet the Press he suggested to his guest, President-elect Barack Obama, that now is the time to burden Americans with a fuel tax to drive the price of gasoline back up to $4 a gallon, which, Brokaw asserted, astonishingly, most Americans were prepared to pay.

Fortunately for he nation, which is in the grip of a worsening recession--probably the beginning of a depression-- Obama politely rejected Brokaw's cruel and idiotic idea.

# posted by Confidential Reporter @ 10:16 AM

Saturday, December 06, 2008

Now what will we do....

I was thinking I could cut my heating bill but no it's going to be colder. next thing you know Ob will have to cancel salt trucks. Not!!
Climate scientists say 2008 will be coolest year of the decade | Environment |

This year is set to be the coolest since 2000, according to a preliminary estimate of global average temperature that is due to be released next week by the Met Office. The global average for 2008 should come in close to 14.3C, which is 0.14C below the average temperature for 2001-07.

The relatively chilly temperatures compared with recent years are not evidence that global warming is slowing however, say climate scientists at the Met Office. "Absolutely not," said Dr Peter Stott, the manager of understanding and attributing climate change at the Met Office's Hadley Centre. "If we are going to understand climate change we need to look at long-term trends."

Prof Myles Allen at Oxford University who runs the website, said he feared climate sceptics would overinterpret the figure. "You can bet your life there will be a lot of fuss about what a cold year it is. Actually no, its not been that cold a year, but the human memory is not very long, we are used to warm years," he said, "Even in the 80s [this year] would have felt like a warm year."

Friday, December 05, 2008

Resistance is futile......

Got your unemployment check? Come to Wally world. Everybody has to eat. Got plenty of beer. Even sell $1.749 gas. We even have enough ammo to stave off the Mexican  invasion.

Hell we  even take coupons from bankrupt competitors.

Need a job? You used to sneer at $9 bucks or so an hour. But now? Beats selling fries. Think OB will close us down now?

We are now hearing that great sucking sound caused by Clinton giving your job away to free trade gangsters. He took their money they got your job.

Maybe Hillary will get them back. Or maybe the rest of the Clinton gang OB hired will . Yea right.

The more things "change" the more they stay the same.

Expect the stock market to go up because all that printing press money is running for safety. Government bonds and U.S stocks are the place to be when it's time  to run for the tall grass.

Let's not forget that state governments will have to raise taxes because we ain't working no mo'. Think they'll welcome Wally world now?

Damn who would have thought that lending money to broke dicks would cause so many problems.

 Walmart is the result.
Wal-Mart sales rose 3.4% in November - Dec. 4, 2008

NEW YORK ( -- Wal-Mart Stores reported November sales that trounced expectations Thursday as the discounter continues to gain market share from its rivals in a worsening economy.

But the picture wasn't so jolly for many other leading store chains as more Americans retrenched on unnecessary purchases.

"With the exception of Wal-Mart, the situation last month [for retailers] was a little bit worse than expected," said Erin Armendinger, managing director of the Jay H. Baker Retailing Initiative at the Wharton School.

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Thursday, December 04, 2008

Arnie.....Socialism doesn't work....

Houses don't come cheap. Subsidizing  the broke dicks to buy them doesn't work. Rewarding moochers doesn't work either. California is the epitome of what does not work.  The whole political class does not work. Keep subsidizing what doesn't work is a recipe for disaster.

You want to improve the economy .....make everybody work. Make something to sell. Quit giving all of our jobs to foreigners. We are going to have to nationalize the illegals and find them work to pay my social security check. Where are all those jobs coming from? The auto companies?

We have to get it through our thick heads that just financing future Medicare recipients will destroy the planet. We vote. Avoid scaring us old geezers. Most of us have lost our retirement income in stocks and home equity. Is your house gaining in value? What if you only have a few years left before you get thrown out on your ass from Walmart or McDonalds.

As radical as it sounds, we have  guns. We have 200 million of them.Taking over small oil countries is not a serious obstacle. How long did it take us  to take over the world's third largest oil reserves in Iraq. 6 weeks.

Think Iran sleeps comfortably . They could be toast. Any one remember what we did to the Native Americans. How about Waco? Or even Ruby Ridge, Idaho.

Think riots. Blacks and Latinos are finally tasting success. Can we slam the door in their face. Think they'll jump in and finance my hideaway in Sarasota? Which illegal is going to buy me out in redneck heaven Idaho so I can go fishing with my brother in Tampa? Funny now?

This will sound extreme under "normal" circumstances but the Germans of my grandfather's generation stopped laughing as their government took over Czechoslovakia. Then invading Poland destroyed their world.

 As for us today, Saddam and his kids are worm food. When crunch time hits no one is safe. We burned millions of people to death in our past. Whether it makes us queasy or not we have a world wide reputation of getting what we want. But maybe this is just an exercise in fear mongering. Then again, maybe the world has to worry.


Lord Obama will rescue them. Even the "Terminator".
California Housing Fiscal Emergency Part Deux: California Housing and Economic Dynamics in Massive Recession. » Dr. Housing Bubble Blog

The Governator announced to the newly minted politicians on Monday that California is now officially in a fiscal emergency. He had called for a special session trying to resolve the issue but lame duck politicians were on “fact finding” junkets or simply playing hide the salami while Rome burned. These are the people leading our state which is the most powerful economic engine in the 50 states of the union. What an absolute disgrace. These people are getting 6-figure salaries and the only job they have is to represent the populace and they can’t seem to even get that right. Our deficit is ballooning each and every day and budget analysts are saying that we may be broke by February. I’d argue that we are already broke but to many debt is the same as wealth. Today, a group of Governors including Arnold are meeting with President-elect Obama for what I would imagine should be a fascinating spectacle of who can hold out the largest tin-can.

The state budget deficit is gigantic. To first understand this mess, you have to follow the money:

California revenues

Keep in mind these are estimates. A state as large as California with expenses over $100 billion is no small thing. But anyone can quickly look at the above pie chart and understand we are in serious trouble. The two biggest sources of revenue for the state are personal income tax and sales tax. These 2 areas make up 71% of all revenue sources. Well, you can already see the problem arising here. First, as much as people want to believe that Black Friday was somehow going to resurrect the economy one day does not make a trend. People are not spending as much and subsequently sales tax revenues are going to shock us on the downside. In terms of the personal income tax, well you can pretty much kiss a large portion of that goodbye. High paying bubble jobs like real estate agents, mortgage brokers, financial analysts, construction workers, car salesmen, and others in the FIRE economy are no longer going to be paying Uncle Arnold their chunk of gravy train day salary. The personal income tax damage will be obvious come Q1 and Q2 of 2009.

In addition, those that have no job are literally paying zero into this pot and we are having more and more fall into this category especially here in California that now has the 3rd highest unemployment rate in the nation:

California unemployment rate

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Wednesday, December 03, 2008

Imagine trying do this for a living.....

I sold real estate during the early 90's. It was tough enough. Imagine when no one can qualify for a loan. This is along post but should be read to get an idea of the extent of the problem.

The California economy is the third largest in the world and depends mostly on the housing industry.

Which has disappeared.

What really hurts is that the worst hits in 2009. I got out just in time. Unemployment in Riverside is now close to 10% and climbing. My niece  lost her house a couple of months ago after taking in her mother who had ended up homeless.

My daughter's husband is a union carpenter working commercial real estate projects still under contract. These contracts will probably disappear as who will need new office space. Maybe government as they will be the only ones hiring.

Laborers are now dime a dozen with plenty of Mexicans still to be nationalized by Ob's new administration putting even greater pressure on what few jobs there are. So much for the coming minimum wage hikes, right?

Xmas sales will be over in a week or so and who needs clerks in empty stores. Business has to empty their warehouses because excess inventory costs money and is taxed. Sales taxes will collapse putting even greater strain on local authorities to cope.

Firemen have to be paid or we completely wipe out whats left of the insurance companies . Literally thousands more will then become homeless. Democrats then lose their cushy jobs.

You get the idea.

Expect to see the new government under OB to hire everybody to build bridges and highways but this takes time. Be probably 6 months or so. Count on a big stimulus checks and big tax credits first.

One interesting idea I've come up with is for the banks give everyone a a new credit card wiping out much of the old balances. All that bank stimulus money has to end up in our hands as debt in order to crank up the consumers. Therefor, other forms of the essential credit moratorium will be instituted as  this will become necessary to save the system.

Count on measures to do so.

The stock market will rise if not boom here as Europe and Asia ships their money to our stock market looking for safety. Still have to get global shipping moving to save China's economy from collapsing. China needs to sell us everything we need and continue to buy our national debt. They also need the worlds commodities. We have become so intertwined on a global scale that all bailouts are universal now.

Read the above carefully. That's right. Broke dicks can't buy squat. We is broke.

Good luck, President OB.

I would expect a huge increase in crime. Up here in "Redneck Heaven" Idaho we just hunker down. Stock up on canned food and polish our hunting rifles. Have more deer and fish than dollars. I expect the job market to disappear for awhile. I'm warning my friends to hang on at Wally World  because things could get nasty. The local jobs, saw mills and such no longer exist. Empty stores don't need clerks. People with out money aren't  buying gas. Etc etc.

I guess we just wait for the new Messiah, OB to save us.

California Housing Fiscal Emergency Part Deux: California Housing and Economic Dynamics in Massive Recession. » Dr. Housing Bubble Blog

The L.A. median home price topped out at $550,000 in August of 2007. I know that it seems like a lot longer ago but only a year ago, were we sitting at the mountaintop. Now, the median home price for the county is $355,000. A drop of nearly $200,000 in one year. How would you feel if you bought at that $550,000 peak and now knew your home was only able to fetch $355,000 (if that) on the open market? I can tell you how many are feeling. Many are simply walking away from their homes. When I say walking away I don’t mean that they leave on their first miss payment. In fact, idiotic legislation like SB 1137 simply kicks the shiny empty Coke can down the road a few more months and allows many people to stay rent free in a home they clearly cannot afford. They will walk in droves next year. I’ve talked with a few contacts in the industry and they are telling me that if you have a 720 credit score and 25% down you can get a loan at 5.25% up to $725,000. Yet the traffic is not there. Why? Because how many people today have $181,000 sitting around for a down payment on a home? Also, you have to have debt-to-income ratios that keep you under 37% so let us take that $725,000 home and run the numbers:

Down payment: $181,000

Mortgage 30-year fixed (5.25%): $3,003 (Principal and Interest)

Taxes and Insurance: $755

Total monthly payment (PITI): $3,758

Needed net monthly income: $10,156

You will need a monthly net income of $10,156 to afford this home even after putting $181,000 down if we want to keep the 37% DTI ratio with net income. Yes, you’ll have tax deductions but keep in mind that monthly nut of $3,758 comes out of your monthly cash flow stream. You reap the rewards when you do your taxes. But let us not get caught up in missing the bigger picture. There is such a tiny amount of people in California that fall within this range that it is comical. That is why sales have fallen. People are missing the point. It is all about income and jobs. It always was about this. If the median U.S. income was $100,000 I assure you we wouldn’t be having this discussion. But the fact of the matter is the median income is only $46,000.

Many are now losing even that median income job. That’ll depress wages and home prices further. And California had this incestuous relationship with housing. That is, many of the high paying jobs simply existed as a leech to the bubble. Now that the host is gone the vector can no longer survive in the current ecological system. That is simply a fact.

Even with all these foreclosure moratoriums and hackneyed responses to the bubble, the foreclosure rate is still through the roof:

Nationwide foreclosures

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Tuesday, December 02, 2008

Give me that old time religion......


It's possible the Greens will win. We all end our sorry lives eating dirt, living in a mud hut and slaughtering each other with stone tipped spears.

I prefer the Empire. Every left wing nut's nightmare. Taking over small oil producing countries and civilizing  them. (though I prefer non-violent means)

I  and millions like minded people  will work, save, and support the only system that has brought wealth of immense proportion to the "common man". That's how we vote.

Whether the savages like it or not.

Our ancestors lived in perfect misery until conquered by technologically advanced civilizations and taught to read, clothe, feed and protect themselves. Through the centuries we have modified this system to generate a better life for all. this has been the natural order of things. That's what  people always strive for.... leaving the world a  better place for their children.

 In the process, a great Empire has been created. Today we call it Capitalism. Most of the world has been brought in, some kicking and screaming, to a life of full bellys, warm houses and clean sexual partners. Where their children dream of gifts and have playtime. Where we live side by side with people we don't even like. Without fear.

Nothing has done more for the majority of mankind to serve our collective needs. No political or competing economic system ever invented can long survive resisting it. 

Capitalism "teaches a man to fish, feeding him for ever". Those people who embrace the Empire,  eat, live under a solid roof, have productive things to do and have the free time to invent religions and political theories to argue over. Those who don't, die miserable lives. (Africa, anyone?)

The Empire rolls over Nazis, Commies, Religious nut jobs, and just plain old fashion Fascist. Yes, just  as the Commies found out, the  Mullahs are screwed. Keep bringing their elite's children to our schools and they will belong to us. Give them "baywatch" reruns. Teach their women to "just say no". We win.

That's why they hate us.

Resistance is futile.

Which brings us to today's topic.

I like nothing more than experts who agree with me.

Fortunately this crap is off the table for now. All we need is to waste more resources on a problem we can do nothing about even if it was real. You would have to shut down the world economy and start over. Not going to happen. Take a nuclear war to do so. However, watching today's present crisis unfold may get us thinking the system  may have  become unrepairable. Not a chance. Temporary glitch. We'll figure it out. We always do.

Meanwhile, history teaches us that Capitalism embraces all new religions and swallows them. Environmentalism will soon be a complete subset of the pantheon we have created under freedom of religion. Which is:

You can believe any damn fool thing you want as long as we can monetize it.

Gore and the Global Warming Fraud Exposed : EarthFrisk Blog

The Founder of the Weather Channel

Eminent Meteorologist John Coleman, the founder of the Weather Channel says:

There is no significant man made global warming. There has not been any in the past, there is none now and there is no reason to fear any in the future. The climate of Earth is changing. It has always changed. But mankind’s activities have not overwhelmed or significantly modified the natural forces.

Through all history, Earth has shifted between two basic climate regimes: ice ages and what paleoclimatologists call “Interglacial periods”. For the past 10 thousand years the Earth has been in an interglacial period…. [where] the Earth warms up, the glaciers melt and life flourishes. Clearly from our point of view, an interglacial period is greatly preferred to the deadly rigors of an ice age. Mr. Gore and his crowd would have us believe that the activities of man have overwhelmed nature during this interglacial period and are producing an unprecedented, out of control warming.
Well, it is simply not happening. Worldwide there was a significant natural warming trend in the 1980’s and 1990’s as a Solar cycle peaked with lots of sunspots and solar flares. That ended in 1998 and now the Sun has gone quiet with fewer and fewer Sun spots, and the global temperatures have gone into decline. Earth has cooled for almost ten straight years. So, I ask Al Gore, where’s the global warming?

Obama Administration Will Tackle Climate Change

Yea right.

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Monday, December 01, 2008

Merril Lynch economist are now to be trusted....We are dead , dude....

 Thought that my job at Wallie world was safe. But with these guys saying China will recover next year makes me scared shit less. Just who is China going to ship their stuff to? Broke dicks in Florida? How about all those peons in California? Where is all the trade credit coming from? I think my future bonuses are toast until we get over the next few years of national bankruptcy.

We have been "officially " in recession for 12 mos. We are just feeling the effects  right now. Are you feeling upbeat? Want to buy a house for twice what you can finance it for? How about a car you can't afford to repair. Let alone insure. How about that great shopping? This year will be better than expected because the stores are practically giving stuff away to empty stuffed warehouses that cost so much to keep open. Need to generate the income to pay those inventory loans you know.

China needs to stay strong so they can buy more of our bail out induced treasury debt. For themselves they need to create another 100 million jobs or so to stave off overthrow. Imagine that coming at you. These people are hungry and are moving into the cities to cause all kinds of unrest. Ain't enough cops on the planet to hold off this golden horde.
China's currency falls by record against U.S. dollar - MarketWatch

Analysts said the current downturn in China's manufacturing sector is likely to deepen, triggering more cuts in production and employment.
"We expect the Chinese economy to slow further for another several months before a rebound in mid 2009," wrote Merrill Lynch economists headed by Ting Lu in a note Monday. "It's our view that China's massive fiscal stimulus plan will help buffer the slowdown."
Morgan Stanley's Wang said he expects the weakening of the Chinese currency against the dollar to be temporary. A longer-term devaluation would run the risk of sparking capital outflows, copy-cat devaluations of regional currencies and renewed trade tensions with the European Union, the U.S. and other big trading partners.
He added fundamentals don't support a major softening of the yuan against the greenback, given China's large trade surplus.
"I don't think there is a foundation for the [yuan] to depreciate on a sustained basis," Wang said.
Analysts said the declines in the yuan were likely driven in part by state intervention and traders anticipating a weaker outlook for the manufacturing-dependant Chinese economy. End of Story
Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong.
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Welcome to the world of competitive devaluations, a race to the bottom where everybody's a loser. As the Yuan is already undervalued against the dollar, massively so, this simply tells us the state of desperation in the CCP. They know that there will...

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Drystacked 2 hours ago

Even (3 Up / 3 Dn)


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The Chinese are smart and very sneaky. They've been eating our lunch for quite awhile. While we're fighting about our differences and individuality, they're unified and kicking our butt.

Whether that will continue or not will be determined by our future decisions. Hopefully we can get our government to serve the people's needs instead of corporate America.

EDIT: Thumbs down huh? Wow, apparently 1 person has their head in the sand!

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EconomicWars 2 hours ago


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Well I just have to say that I think the author is wrong. I think that from now on Chine’s currency is going to start going down against the dollar and this trend may continue for a few years to come. What I see happing with Chine’s currency is that in the mid 2009 chine currency prices are not going to start rebounding just because the world economy is going to start recovering. I do not see that happening; in my opinion this is not going to happen because chine is just starting to go through it version of mortgage crisis, plus a lot of factories are only now starting closed in chine etc…... So even as prices of things and demand starts picking up again in mid 2009 I do not see the chine’s government been able to pick up its currency even if they wanted to by that time, its economics fundamental may not let them. What I see happing then is a rebound in inflation, prices of manufacture things are going to start going up in chine. This time around the inflation in the manufacturing part of Chine’s economy maby be stronger than the inflation in the food part of Chine’s economy.

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sobeachbiz 2 hours ago

+3 Votes (3 Up / 0 Dn)


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Sorry Guys, I read these posts full of bravado and I have to laugh.
Have any of you been to China? I was there on business and I can tell you there is no way the chinese economy is "Going Down". The fact is that as usual the chinese Govt is tilting the table unfairly in their direction again. This is why China, not the US, owns 1.5 Trillion of our debt.
This is why they are a net exporter not importer like the US. This is why they can have a $585 Billion dollar stimulus package and not borrow it on the backs of their children like we do and have been doing for some time.
Don't fool yourself into thinking the chinese story is done, it has just begun, and unless we start demanding fair trade and currency, then one day we will be resigned to making firecrackers and other cheap throw away junk.
EM 1 hour ago

Even (1 Up / 1 Dn)


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No, the reason China is running a surplus is because of excessive consumption in the United States first and second, because US companies export back here instead of producing the goods locally.
Joe_Bourbon 32 minutes ago


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The reason there is excessive consumption is that there has been excessive credit available to consumers. Do NOT blame the US consumer, any population faced with decade after decade of easy credit (that $1.5 trillion financed by the Chinese) and artificially low pegged imports (again from China) is going to have a percentage of people that will just buy and buy until there is no more credit.

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poweroutoftheblueski 1 hour ago

+1 Vote (1 Up / 0 Dn)


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Thumbs up Sobeach: if only you turn down the fear part, I think you are tight on the mark.

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crashhamster 2 hours ago

+1 Vote (1 Up / 0 Dn)


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"We expect the Chinese economy to slow further for another several months before a rebound in mid 2009," wrote Merrill Lynch economists

Where do these "economists" get these ideas - there is no way that anything is going to rebound in 6 months. Even basic economic theory tells us that economic cycles last a lot longer than 6 months to a year - no wonder things are such a mess with goons like this spouting trash like this. It also goes along with the UK govt which is thinking along the same sorry lines - they are going to be in lots of trouble as their forecast is also looking for a rebound in the 2nd half 09' - the poor misguided people.

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Barroso says crisis has brought Britain closer to euro
Monday, Dec 01, 2008
The international financial crisis has set off a radical change in thinking in Britain about the euro, EU commission chief Jose Manuel Barroso said Sunday.
While acknowledging the majority opposition in Britain to embracing the euro, Barroso told French radio: "We are now closer than ever before."
He added: "I'm not going to break the confidentiality of certain conversations, but some British politicians have already told me: 'If we had the euro, we would have been better off'."
Sterling has suffered major falls in the credit crunch which has seen Britain, like other governments, spend massively in recent months to support the banking system.
"The British have an enormous quality, one of many, that is they are pragmatic," Barroso said on an RTL radio/LCI television broadcast. "This crisis has emphasised the importance of the euro, in Britain as well."
Full article here

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beeswax 1 hour ago

+2 Votes (2 Up / 0 Dn)


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China needs this devaluation. It would be devastating if the Renmimbi traded much higher. This is an export economy that gains when the dollar is higher. But the social pressures of a deflating currency at home is something the central bankers will be watching as they try to ramp up their own consumer economy.

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dow1 1 hour ago


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Okey here is the BIG PICTURE, CHINA already had $$630 Billion Econ Stimulus for CAPITAL INFRASTRUCTURES, CUT in INTEREST RATES, then there is the QUESTION what more can CHINESE POLICY Makers do to maintain 9%%% or HIGHER GDP Growth with out incurring DEFICITS on the CHINESE TREASURIES. We'll GUESS it, "DEVALUATION of the YUAN" through manipulation at it's open and rawest form. This move make CHINA appears as an advocate for a strong US$$.
Solely for the purpose of continued DEPENDENCY on CHINA's EXPORT ECONOMY, and maintaining 9%% GDP. Thus, continued CHEAP CHINESE Labor employment at
EXPORT ORRIENTED ECONOMIC SECTOR to avoid SOCIAL UNREST. On the other hand, YUAN DEVALUATION is the least path of resistance that will give their $$ the BIGGEST BANG for the BUCK... MANIPULATION of the YUAN vs the US$$ is one move that COST practically nothing. Except deep concern, dissapointments, continued addition to US Job losses, bbiittcch'n, & frustrations on the soon Obama Admin...

Good or Bad I guess it depends. The CHINESE BAIT(Expect Further Drop on Prices of Goods) is ON specially the big screen LCD's TV that is going to fall like a rock bottom prices in order to lure "US ALL" in to a BUYING FRENZIES.... Big Picture, drop in Raw Materials Globally + Devalued Yuan(Means Cheaper Chinese Labor) = MORE CHEAPER CHINESE GOODS(Watch out for the coming CHEAP Chinese Cars)...All pointing to a renewed/reborn/revival US Consumer(ADDICTION) Dependent Economy...
poweroutoftheblueski 58 minutes ago

+1 Vote (1 Up / 0 Dn)


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I didn't read you comment Dow1. When I see caps so generously supplied, the logic in thinking is usualy lacking. Could you tell us if you have thought about these feeling much?

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WatchnFedInDisbelief 1 hour ago

+2 Votes (2 Up / 0 Dn)


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If the Chinese currency keeps dropping, you can kiss the last remnant of the U.S. mfg. base goodbye. What the Chinese need to think about though is "If none of us has jobs, how will we buy their stuff?"
dow1 1 hour ago


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I totally agree with you WFD.....Yes US Manuf is doomed I guess. News is Chinese Car Companies are only making $$120 PROFIT per CAR. Then there is a THREAT to BOEING Co. of the coming CHINESE MADE JUMBO Commercial JET Production in 5 years.


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omnisight 1 hour ago

+2 Votes (2 Up / 0 Dn)


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I agree with WatchnFedInDisbelief. The Chinese think they can improve export revenue. Haven't they spare a thought about the terrible jobless rate? Very selfish.

Guess what.. most stocks and commodities already plunge; Gold worst hit -5.4% in the past 17hours.

If China continues to devalue Yuan in 2009, say goodbye to stocks and commodities. World's in total mess.

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