In strictly financial terms, did the meteor just hit, and we're the dinosaurs?
Have you considered that perhaps the impact of this debacle won't be measured in months, but in years?
Maybe for the rest of your lifetime?
That things will never get back to 'normal'?
And what would "not normal" look like?
"The World is Not Going Back to Normal
After the Magnitude of What They Have Done"
Posts
82 comments:
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YOUR CHOCOLATE RATION HAS BEEN INCREASED TO 25 MG PER WEEK.
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So who's saying the way we lived these past few -- or 20, or 50 -- years was normal? We may now be leaving the period of AB-normality.
Welcome to the new normal... And don't forget -- slavery and serfdom were normal for millenia.
Keith
Dontcha think it's time to talk about the proposed cap at 28% for mortgage interest and how this will completely decimate values for high end properties?
Also is there going to be a seminal moment in SA where you publicly recognize that Obamaramalama is the same as all of the rest of the politicians (excepting for the fact that he's a complete neophyte)?
Have a good day!
What the not normal looks like is captured by James Kunstler in "World Made by Hand".
Buy it. Also buy books on animal husbandry, gardening, cooking, carpentry, canning...assume no internet. Buy seeds, fishing poles, tools, and land.
I really do want 20 acres and a mule.
I agree with windfarmer but don't buy the book, order it up from the library. The truth is that most books are only read once and should be read many times by many people and our libraries need to be more than internet cafes.
Anyone want and citi common?I have some share for you.
I guess I should have run amuck and loaned people money simply for a commission knowing all along the taxpayers would eventually bail me out.Must be great to be a banker.Citi should have falied folks.
O -one
B -big
A -ass
M -mistake
A -America
I watched one of those science programs about the meteor that hit 65 million years ago off mexico that wiped out the dinosaurs.
And I was thinking - those lucky dinosaurs that were right at point of impact - never knew what hit 'em.
But it was the dinosaurs half a world away, that woke up one day and the skies were darker. Then the next day they were darker still. Then a year later there was no food. Then they died. And they never knew what hit 'em.
Now fast forward to this financial meteor that hit us - probably the day Lehman fell is the day you can circle on your calendar.
Six months later, the skies continue to get darker. People are still running around, going to best buy, thinking everything will go right back to normal soon - it always does.
But maybe, just maybe, this time is different. Just maybe, just maybe, it never gets better.
I never thought that till recently. I figured with the trillions in government bailouts, the 0% interest rates, the worldwide coordination, that we'd pull out of this sooner rather than later. And that inflation would roar, stocks would rise, the recovery would start. And it may still.
But now, I'm at least considering the idea that we are the dinosaurs. That all wealth will be lost. That it won't get better.
And that's a very strange thought to have. Very strange indeed.
Hi tools
I went to claim jumper friday for a drink with my bud and the place was a zoo.We could not find a seat at the bar so we left.Parking lot packed.People are getting money somewhere here in roseville ca.
Here's the new normal...coming to the USA...Chavez/Obama same playbook.
Chavez told the National Guard to "take control of and intervene in all of these businesses that process rice in Venezuela," including at least a half-dozen local and foreign private companies.
"This government is here to protect the people, not the bourgeoisie or the rich," Chavez said, accusing some companies of slowing production to evade price caps that have slashed their profit margins. He did not say what the takeover would involve or how long it would last.
Chavez imposed price caps on scores of basic foodstuffs including chicken, rice and sugar in 2003 to combat rising inflation, which at 31 percent is now Latin America's highest. He last raised rice prices a year ago to just over $1 per kilogram ($0.46 a pound).
http://www.msnbc.msn.com/id/29450223/
Speak for yourself. Im one of those little mammal rat things thats been sucking the dinosaurs eggs.
Things (assets, if you want to call them that) are returning to their fundamental price level. The level at which the average american consumer can comfortably, easily purchase them at WITH CASH. Homes are returning to a level where a 30 yr fixed payment is close to rent. Services are going to return to a level where people can afford them WITHOUT VISA OR MASTER CARD. No more $100/hr for the repairman and on and on and on....
It's returning to a level of affordibility and nothing the government does will stop it. And, as we all know, the defaulted on "TAB" is being offloaded to the taxpayer in a feeble attempt to get the banks lending again. Not going to happen, not going to help. Not going to stop this runaway train, too much momentum.
But you made a post a few days back about not ever buying stocks again. I am not going there, YET. I still have enough faith in capitalism, even though ours is so bastardized by leeching, cancerous, corrupt vermen known as politicians, that I think we find an actual bottom. The ride down will be a rough couple years, but we will get there. At which time, I will buy everything.
My big hope was that people would finally open their eyes at this point and someone like Ron Paul would finally be seriously heard and listened to by the masses, not just the fringe. Unfortunately, I do not think the American people want to face the truth. Which means that, even after we "bottom", we will probably "elect" another puppett to take the current puppets place and the show will go on.
Of course, this is just a guess. It could go the way you say here, everything to zero or we could have a lost decade or more like Japan. Hell, we could become a socialist nation like the Euro's, crown King Obama and his merry men and let him keep sending us checks while we get drunk on Fryar Tuck's Ale! Who really knows? But hey, it'll be INTERESTING anyway it goes.
If you look at it in the way that pyhsics looks at things, then consider that all systems have a usefull amount of energy and that the energy as it is used or dis-placed changes the system and that is called entropy. And all energy systems tend to zero eventually, even the stars in the universe do this.
Now consider that capital(ism) in an economic system (our type), is used to the point that it's system is not in proportion to its useful and necessary weight of it's mass, and that capital represents the energy in the system undergoing entropy. Then it would reason that our system is used-up. There is nothing that can re-introduce energy back into the system, it has nearly or completely zeroed.
The way we got to this point was using our energy > capitol and went into deficit, beyond our capacity to have useful return within the system (debt. servicing). There is no point in stimulating the system into the dying star, because it wouldn't be absorbed into its matter because it has gone to zero and cannot absorb energy, the best you can do, is move to another system, which is why they think socializing is the next logical step, but that is a system that doesn't have lasting return or a continual supply of energy from it's mass.
All of the stimulus and bailout has temporary affect on the economy and at best, can keep the patient alive awhile longer. If there was a way of-course to purge the energy sapping disease out-of the system, then there could be hope, but the disease is in control and has the inertia of a generation of deficit spending life-support. Inertia can only be influenced by external force that changes it's path or stops it completely resulting in a fragmented exploding disaster of epic proportions, maybe that's what we need, but I'm no expert.
Agree with Bukko - the last 50 years were an abberation. . .we spent the capital our parents/grandparents saved during WWII - during the War, everyone was employed, and there was nothing to spend money on. . .everyone saved and bought war bonds. . .then in the 1950-1973 period, they spent the savings and worked at high paying union jobs. . .then slowly, the union jobs went to Japan, Korea, China, etc. hollowing out the economy. . .steelworkers became clerks at Home Depot, and wives went to work, and two salaries were not as much as one union salary. (I'm not pro-union - just a fact)
To make up the difference the credit bubble started - first credit cards, then a miriad of consumer loans (cars, stores, etc) and finally massive extraction of home equity via loans. The housing bubble was just a symptom of the larger credit bubble. . .SO. . .yes, this is the NEW REALITY - not all bad - maybe people will live with what they need, not what they want.
I love all the wacky conservatives who hang out here. I wonder if they will wake up some day and realize that Ronald Reagon, Bush II, and the other nut jobs on the far right have manager to revive a dormant philosophy---that of Socialism. It's all coming to America because of them and their rich buddies.
http://www.marketoracle.co.uk/Article9167.html
"...I figured...that we'd pull out of this sooner rather than later..."
I am PRAYING that I can convince my boss that we should cash out at the top of the bailout bounce.
We've lost well over half so far, and I fear the stubborn, defiant denial will have us riding it all the way down to pittanceville.
We're in our early fifties; is there enough time left to recoup our enormous losses/generate enough to retire?
" Then they died. And they never knew what hit 'em."
If they'd only had a sophisticated system of communication - like our corruptible MSM - they would've at least been 'told' the cause of their demise...they would've died 'knowing' that their investments were still safe...
New bumper stickers for Obamabots
But now, I'm at least considering the idea that we are the dinosaurs. That all wealth will be lost. That it won't get better.
And that's a very strange thought to have. Very strange indeed.
I had that thought about 6 months ago and immediately started buying gold and silver. It might be a bad move, but the lightbulb went off saying cash (paper money) will be trash. Only time will tell.
Ok, I've been like a deer in headlights about this inflation/deflation thing.
Been tied in knots about gold, and recently decided to buy the GLD index, but seeing it way up just doesn't feel right. And the whole argument about what it's good for, except glittering.
I bought some aerospace manufacturer stocks in October, and took a bit of a hit there, but got those at 60% off, so it's probably alright.
But looking now for something commodity wise, and I think it's the oil thing.
Are there any opinions out there about if the funds OIL or USO are solid and if one is preferable to the other.
http://finance.yahoo.com/echarts?s=OIL#chart1:symbol=oil;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Your analogy is truer than you can imagine:
http://www.cbc.ca/technology/story/2007/10/31/volcano-dinosaurs.html
The parallels would be hilarious if they weren't so telling.
Thankfully, none of this is relevant, the Earth is 7000 years old. Just ask ANY of the Republican Presidential hopefuls.
Volcano monitoring is for commies, girly men, and other unrapturables.
The REAL problem is when a Facist like Bush becomes president under the term Republican Democrats next have full authority to rob the people of their country.
We saw this with Hoover followed by Roosevelt.
Bush tax and spend to restrict American Freedoms and now Obama is printing and spending to revolutionise the country.
The country will never be the same after Obama is done creating his army of parasites feeding off the government and voting more more parasites to enlarge their army.
We are on the cutting edge of Communisiem - THIS IS THE REAL METOR READY TO DESTROY US ALL.
Soon the Government will be so big that the private economy cannot ever hope to support it without steep government intervention - The spiral will drive nearly all industries into nationlization.
Keith, while I would agree that the world has definitely gotten hit with a financial meteor, I think your taking it a tad far to say the world may never recouperate.
Circle the date Lehman fell for sure and then circle a date 5 years from then. I would suggest it is around that time that hope will begin a new. Not any great things going on mind you, but hope that something is developing to move things back into positive territory. Light can be seen at the end of a very long tunnel.
I hope that things don't go back to normal ever if normal is what we have witnessed over the last decade.
The trillions in government bailouts that Fraudbama has orchestrated will certainly keep things from getting better for many years to come. My hope is however, that we get new people in office over the next two elections, that will be smart enough to erase as much damage as possible that this inept administration has caused.
We need 10% interest rates, and the sooner the better. Inflation won't be soaring anytime soon, and stocks will eventually rise again. The recovery won't start for a while however.
A whole lot of wealth has without question vaporized and will never be seen from again. That and housing will take decades to recover and for most of us the prices seen at peak will not even be close to coming back again before we pass along to where ever it is we go to...
Yes, it is very possible that the USA has already seen it's best days. The 1950's-70's are a time America will never see again.
I love the realtors, analysts, and Ben Bercrackys all saying the economy is going through a slight downturn, a correction, and in six months from now things will start turning around. And this is based on nothing but their idiotic hopes and dreams.
I says the fundamentals are totally f'd. The fundamentals say that we've been on a spending spree not just for the last 8 years, but for the last 25 years. We've spent much more than we have. The big banks are insolvent as are much of our governments and more importantly the citizens.
This recession will last for years more. As Schiff likes to say this recession is the cure for the disease. And the disease is an entitled population.
Yes, the financial system is devistated but it was not by a natural disaster. The market decided that most of these "financial smart guys" were not needed. If you make your living on bullshit you should be worried. If you make your living making, creating, and distributing real value the yoke has been taken off your back.
DP
"New bumper stickers for Obamabots"
________________________________
Pfft yeah, I bet Nick will have that on his car. Man, I hope a nice big F-350 or Silverado plows into him and sends him off a bridge.
This thread shows the problem...our team vs their team. Republicans and Democrats both cater to their bases...these bases fight each other while the elite get richer.
The posters acting like Obama is horrible are clueless, he inherited a no win situation. Not that I think he has done everything right, but this collosal mess is Bush and Limbaugh's mess.
Anyone wishing for Palin to be in the White House right now instead is a sick pup.
My hope is that the feeling that it may NEVER improve is a sign we're near bottom for this crash. And when you read the MSM or blogs, it's almost 100% doom and gloom. So as a contrarian, you know what that means.
But.......
There's a chance that it is different this time, that the overwhelmingly negative consensus is correct, and we keep going down, down, down.
So this isn't a time for gambling. It's still a time for capital preservation.
I think we'll get some resolution in the next few weeks. The fate of the banks and the autos is a big moment.
But watch out for more black swans.
keith,
"But watch out for more black swans."
What black swans have we already had? Nothing so far seems unexpected, I guess that it took so long to pop - but they always do so even that is expected...
So what completely unpredictable out of left field events have happened?
Our corporate accounting standards have been SEVERELY compromised and utterly opaque at the extremes.
If the process of cooking-the-books gave off an aroma, the majority of the population would be wearing nose plugs.
ENRON was just a peek behind-the-scenes and the ultimate opportunity to 'really' clean up a corrupted accounting system, instead of an orchestrated cover-up.
The accounting industry is the elephant in the living room - and it's up to its knees in sh*t!
casey said...
Hi tools
"I went to claim jumper friday for a drink with my bud and the place was a zoo.We could not find a seat at the bar so we left.Parking lot packed.People are getting money somewhere here in roseville ca.
March 1, 2009 3:14 PM"
No mystery there. more than half of your neighbors have stopped paying there mortgages. That frees up a lot of money for Claim Jumper and drowning your fears of the future in $7 mojitos.
I have noticed a pronunced change in CA since Obama announced his housing bailout. It seems that a lot of the folks who live free in stucco mansion believ O bama will keep the party going for them.
Its distgusting and the rest of the nation that will end up paying for this should be very pissed. A guy in Montana would not spend $7 on a fruity drink, ever! But now he gets to pay for those drinks for hundreds of thousands of CA weasles (thru taxes paying for the free mansions).
GT Charlie
Lost all your 401K by 50%,money,job,home,spouse,respect?
Have a beer/wine/champagne or whatever, get up and blast the neighborhood with this song,
http://www.youtube.com/watch?v=28I0JK0byLU&feature=PlayList&p=5599598E8E0937AD&playnext=1&index=52
It helps and it's FREE!
Peak oil had more to do with the crash then clueless and criminal bankers/ wall street/ etc. There are limits to growth - trees don't grow to the moon.
No, it will never be the same. We are past peak oil. The crash is just a free market adjusting - how do you cut 10% of air travel in a free market? Easy, just have a economic crash.
BTW- Angela Merkel just told Eastern Europe to go "f#ck itself". . .that should be nice for the markets and Euro tomorrow! . . .Riots R US will be Eastern Europe this summer.
Oil falling 80% is a black swan I didn't see, and don't think many others did too. And that event will cause more worldwide social unrest and dislocation than any other aspect of this crash.
Iran, Iraq, Russia, Venezuela, Saudi Arabia - all on the verge of societal breakdown. $30 oil might FORCE Iran to attack Israel, just so they get the price up. $30 oil might make Putin do some crazy things to retain power. $30 oil might cause an overthrow of the Iraqi government once its sugar daddy cuts it off.
Another black swan is an assassination. They come all the time, so look at the leaders of the world and wonder - will we have an archduke ferd moment?
And of course, the Dow falling to 3,000 would be a black swan for the ages. Or gold falling to $300 (or rising to $3,000).
More surprises are on the way I think.
Stay tuned.
I went to claim jumper friday for a drink with my bud and the place was a zoo.We could not find a seat at the bar so we left.Parking lot packed.People are getting money somewhere here in roseville ca.
Hold the phone! We have one (1) restaurant, busy on one (1) evening! CRISIS OVER!!!
A great indicator of the economic climate if I ever saw one.
WTF1920, that you would reference the 1970's as a good patch is pretty stunning.
I think you've got no idea what you're talking about.
We're dinosaurs. Except we knew the meteor was coming. And we also know hwo's responsible for the meteor. Yet no one cares to do anything.
I really do want 20 acres and a mule.
March 1, 2009 12:48 PM
its 40 acrea and if you are not black you don't get it.
Anonymous said...
New bumper stickers for Obamabots
March 1, 2009 4:50 PM
hahahaha
prinitng some up right. now.
Keith: the meteor didn't strike the day Lehman died- it struck the day Angelo Mozilo set up his countrywide shingle some 40 yrs ago
I went to claim jumper friday for a drink with my bud and the place was a zoo.We could not find a seat at the bar so we left.
Yep, those two $2 beers per hour, per patron, on Fridays, are really carrying the economy. Crisis is over!
The long emergency.
In the late 50s, my father-in-law bought a farm, 160 acres of beautiful country, with a farmhouse on it. His wife saved the money he made while in the service for three years. This is what they used to buy the farm. They paid for it in full, with no note.
That was when things were halfway normal. Today, an average middle class working family can't afford squat. It would take forever to save for that much land at today's prices. The PTB have made sure of that.
He had to give up his farm when the gubmint decided to run the small farmer out of business, so that the corporate farmer could prevail.
The corrupt left sells the average Joe out using redistribution of wealth. The corrupt right sells the average Joe out using redistribution of wealth.
I hate them both.
Buh buh buh the rest of the world used to whine constantly about how Americans were sooo materialistic, lazy, and fat.
So France must be pleased that we don't buy their wines or spend our dollars in Paris anymore.
Japan must be really happy that the lazy Americans don't buy Japanese-made cars anymore, and decided to walk instead.
Germany must love the fact that we don't import their machinery any longer.
And the emerging countries must love the fact that we Americans decided to trim down our waste, because we were called "The Fat Americans", so we won't be purchasing so much food from those countries anymore.
The Americans were also called dumb, so we decided to stop spending money with electronics, imported clothing from Asia, to be reading used books from the library all the time. I guess you won't miss our dollars, right China, India, Japan, Europe, Australia, Canada, emerging countries, etc. We're just following what you've asked us to do.
We listened to you all the time bitching about us, rest of the world. So now we, Americans, have decided to close our wallets and be superfrugal, as you have asked all along.
You, rest of the world, must be very satisfied now, right? Right?
Agreed that there are more surprises on the way, but how could you NOT see oil crashing?
People cannot afford $4 per gallon gas, therefore the price cannot stay there. Unless they decide they no longer need to sell the oil. And right now, the $2 per gallon hold we are at is losing its grip. I have a feeling it won't hold for much longer, we MAY even see 75 cents a gallon before this is all over.(I look at it at the pump, since thats where the rubber meets the road.)
It's always the fundamentals, it will always come down to what CAN be paid, what is AFFORDABLE to the average. I knew when it was running up this past spring/summer, it was going to crash and burn gloriously.
I should give myself some credit - in July 2008 on HP I wrote that post that oil's price was not based on increased demand and was pure hedge fund manipulation, and that the resulting implosion would be "spectacular".
But at that time, I thought $140 would go to $200. I didn't see it crashing to $35 so quickly after that post, and so suddenly. Housing is going to take years to fall 70%. It took oil a matter of weeks.
Oil's collapse is what makes me nervous about gold. 60% of gold is industrial and jewelry demand, only 40% is investors. I assume industrial and jewelry demand is falling, even as late-to-the-game investors pour in.
I'm getting a feeling to go long oil and short gold. Do the opposite of the sheeple.
Comments?
"I'm getting a feeling to go long oil and short gold. Do the opposite of the sheeple."
There's certainly supply destruction in oil due to natural depletion and a lack of investment. Sooner or later decreased supply will catch up with decreased demand. My guess is in about 2 years. In the meantime oil could see $20 ...or not.
Gold, it's always been considered money. With all the paper money sitting at the sidelines I would consider a major drop in PM prices unlikely. What else are you going to do with cash? Buy 0% treasuries? In about a decade or two the government will default on its debt one way or another.
>O -one
>B -big
>A -ass
>M -mistake
>A -America
M -you
O -you
R -you
O -you
N -you
There is some damn cheap real estate out there now.
So everybody lost 50% of their savings, and now everything costs 50% of what it once did. You buy a car that get twice the milage as the old car, and the payment is half of the old payment. I don't really see the problem.
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THAT BUMPER STICKER IS PURE GENIUS
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"...My hope is however, that we get new people in office over the next two elections, that will be smart enough to erase as much damage as possible that this inept administration has caused..."
Without a HINT OF IRONY.
"...A whole lot of wealth has without question vaporized and will never be seen from again..."
It's still there. Just like at the end of dotcom, it's merely been transferred to those who sold at the top.
"...Anyone wishing for Palin to be in the White House right now instead is a sick pup.:
I voted for McCain; not out of any benevolent motive.
The deranged partisans actually believe that their choice would magically improve our debacle.
I favor a more Schiffian approach: let's take our medicine and finish this sick cuntry off.
"...how could you NOT see oil crashing?..."
I couldn't see that demand doubled in a year(doubling the price); how could I know 4/5ths of demand would evaporate?
Ergo other markets factors(such as manipulation) must be at play.
I don't think there is a "normal". There never was. Time moves on and things keep changing.
Oh, some of you are gonna love this one
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article5821821.ece
Keith,
Where did you get the stats 60% and 40% for gold? Do you have a link?
I've heard industrial and jewelry make up less than 10%.
I don't know for sure.
Thanks.
M -you
O -you
R -you
O -you
N -you
Oh wow good one.
The gigantic meteor is in the process of hitting the earth's crust. It's a new kind of meteor, one that takes months/years to finish its crash. It will take years to know the final impact. I'm afraid the end game for America is likely at hand: diminished economy, and diminished political and military influence. Asia will lead the next wave for the world with America's and Europe's tails wagging the whole way.
He had to give up his farm when the gubmint decided to run the small farmer out of business, so that the corporate farmer could prevail.
People still to stop buying from the supermarket and start buying from local farmers at farmer's markets. All of this eventually biols down to the end consumer.
"You buy a car that get twice the milage as the old car, and the payment is half of the old payment. I don't really see the problem."
Easier said than done. Sure, many will lose their BMW and have to get a Hyundai instead, but they aren't going to be happy about it.
The question isn't will we recover, but what type of lifestyle we will recover to. There's too many that think we're almost through the bad times. Maybe one more year of crap then it's party time again for the next 20 years. When they realize we can't go back to the way things were, the bubble jobs aren't coming back, and the $10 clerks position is all they can get for the foreseeable future, there's going to millions of angry, violent people.
Speaking of food from corporates and conglomerates reminds me of the quality and taste of the food. Again this is the choice of the consumer and will he/she fight (like drive further and pay more?) for a better product?: http://www.youtube.com/watch?v=NiZ9xw9-NBo
"yoski said...
"I'm getting a feeling to go long oil and short gold. Do the opposite of the sheeple."
No. Buy more houses in nice miami neighborhoods. . .
Bwa ha ha ha .
Obama is more likely to legislate "A chicken in every pot and a car in every garage" per Herbert Hoover! He already owns the means to do it. Never mind the "40 acres and a mule" which was granted by General Sherman and later rescinded by President Johnson. It was a good idea: Not only are mules better for work than horses, but imagine if every former slave had been able to hold onto that 40 acres of prime southern coastal land. Hanging on to paid for land over the generations is still a way to wealth. The descendants of slaves would be better off today if they had been able to keep that land. That land and that mule gave more freedom and hope than a government paycheck or assistance program will ever do! I would vote for anyone who promised 40 acres and a mule!
Look, if you think we have been lied to before, nothing even comes close to Bernake saying we will be out of this by the end of 2009. If you believe this, I have a bridge in Brooklyn for you. He is simply trying to prop up the markets and is not to be believed.
I quote Niall Ferguson, the economist, in a Canadian interview,
"Policy makers and forecasters who see a recovery next year are probably lying to boost public confidence, he said. And the crisis will eventually provoke political conflict, albeit not on the scale of a world war, but violent all the same.
“There will be blood.”
Link here: http://www.theglobeandmail.com/servlet/story/RTGAM.20090223.wferguson0223/EmailBNStory/crashandrecovery
Thanks, Wind farmer and Ron Paul is right for the great comments!
"I'm getting a feeling to go long oil and short gold. Do the opposite of the sheeple.
Comments?"
If you're not going to invest in food, sounds like a reasonable plan. At least oil is usable for consumer purposes. Gold is a luxury in consumer hands. All other uses is speculation or decoration. The wealthy use it for the latter, and they can take it from you by force.
During the Depression they say the first businesses to go made higher order manufacturing products that were not fundamentally necessary for anything. Gold plated connectors are nice but not 100% needed for everyday products.
Yes, it is very possible that the USA has already seen it's best days. The 1950's-70's are a time America will never see again.
You must not be black, gay, female, a recent immigrant, or any of the other groups of people who had NO chance back then.
Easy come, serve-up-a-leisure-lifetime-on-a-silver-platter living for angry white straight Republican guys is gone, never to return.
Now they're going to have to actually work for a living and put up with the same conditions everyone else does.
That means no demanding big tax-funded programs for your kids' education or your health care and retirement while handing the bill to immigrants, gays and others and demanding they pay up but not participate.
It means no easy-in system of Ivy League "degrees" to gain access to a life of easy living in corporate life.
It means you'll actually have to learn math, science, and history and will have to put in a 12 hour day like everyone else -- none of this 7 hours "because I have to be with my kids" stuff. And you'll earn 30% less like the rest of us do.
It means that you're going to have to turn your anger and rage at the free ride ending into productive capacity, openness to new ideas, and humility.
And until you do, you're going to fail, and fail, and fail.
Don't worry, I have faith, you'll get it eventually -- especially when that black lesbian immigrant from Ecuador blows your doors off with her new startup that came up with new ideas and put your old moribund company out of business.
Pleasant dreams. ;)
Oh, some of you are gonna love this one
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article5821821.ece
Yep, as clockwork, the NWO is making the next move. Have you noticed how they're pushing the carbon trade thing like crazy? Aren't you retards a little skeptical of how ALL these global elites, from Gordon to Al Gore, are telling you that you should be paying carbon taxes on EVERYTHING you do into their global elite coffers?
I told you that it's coming. The New World Order wants a World Central Bank to collect carbon taxes to keep on enriching themselves at your expense, while controlling and manipulating data about the fake global warming.
The first wave of scams they played on you was all the CDOs, robbing your IRA and 401 (k), and heists through stimulus and bailouts.
The next scam is the carbon taxes robbery. If Gordon is pushing that idea so much, it must be good, right? Right?
You better wake up sheeple.
I'm getting a feeling to go long oil and short gold. Do the opposite of the sheeple.
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Great video interview/discussion with the Mogambo Guru about gold, silver, etc. (2 parts) KEEP your gold.
http://video.google.com/videoplay?docid=-4841803044571157677&ei=dzyrSbOAOY6cqAKH9fDFDg&q=mogambo+guru&hl=en
http://video.google.com/videoplay?docid=6145723389613853897&ei=dzyrSbOAOY6cqAKH9fDFDg&q=mogambo+guru&hl=en
"You owe a little money, and the bank owns you. You owe a lot of money, and you own the bank." I think that Donald Trump said that. Anyway, the USA owes a lot of money, but in the scheme of things, it does not amount to a hill of beans. Watch what happens. I am sure there will be no inflation, because the debt owners will make sure that their notes are worth a pretty penny.
"It means you'll actually have to learn math, science, and history and will have to put in a 12 hour day like everyone else"
Huh? The most educated are non-tenured, gypsy-like scholars roaming the country, looking for one part-time teaching stint or another.
The ones in today's white collar economy, who're earning the mint are essentially salesmen and corporate controllers, not the actual workers. Ask 'em about Complex Variables or who's the first Byzantine Emperor and you'll get a lot of blank stares.
The moral of the story... it has nothing to do with education.
wind farmer - the sidelines for now for me
I wonder if AIG will put taxpayers on the hook for a trillion
We're getting closer
http://uk.reuters.com/article/businessNews/idUKTRE5202MN20090301
And the monkeys in DC make a big deal about GM/Ford/Chrysler.
Chump change vs. AIG.
Where were the regulators?
Where were the auditors?
It truly is amazing.
No meteor - just a very very very small earth quake.
A financial storm take time to develop.
http://www.mercurynews.com
/breakingnews/ci_11814741
Small earthquakes rattle Los Altos Hills area
The U.S. Geological Survey reported a 2.6 magnitude quake about 5 a.m. Sunday, a 2.5 quake at 9:40 p.m. Saturday and a 2.4 quake at 6 p.m. Saturday.
The activity was on the Monta Vista fault, a so-called thrust fault created by the squeezing motion of the San Andreas fault as it bends along California's coastline.
Although Monta Vista tends to be a quiet fault, its location means that even moderate shaking could cause great damage to Silicon Valley businesses and homes
According to the USGS, earthquakes typically aren't felt unless they are at least 2.5 to 3 in magnitude. Damage generally occurs only from quakes over the size of magnitude 4.
"...Maybe one more year of crap then it's party time again..."
I'd like some of what they're smoking.
"...angry white straight Republican guys...Now they're going to have to actually work for a living...you're going to have to turn your anger and rage at the free ride ending into productive capacity..."
Heh. Not to mention having a stark look in the mirror: it wasn't an illegal alien that wrecked your shit. You adored the scam while it stuffed your pockets; now you're tiptoeing away from it?
Kieth is just doesn't matter...
Why discuss what could be or may not be a good investment for tomorrow.
A Commie is in the whitehouse. They way Commies seize power is be taking from those that can and giving to those that can't manage. By doing this Obama will destroy the world. Destroy all peoples standard of living, but gain in power.
Arlington Cementary is full of brave people that died taking countries back from the Obamas of the world and giving it to the people.
You may think being a liberal makes you one of Obamas chosen people. But the world is full of hungry fools that say you aint one of them and if Obama wants them to further empower himself. Her knows he must destroy you and show your head to the world.
Evil is in power - NOBODY WILL WIN.
The most educated are non-tenured, gypsy-like scholars roaming the country, looking for one part-time teaching stint or another.
The ones in today's white collar economy, who're earning the mint are essentially salesmen and corporate controllers, not the actual workers.
Ever been to Silicon Valley? Most of the successful CEOs and leaders there have PhDs in hard science (like quantum physics), a few patents to their name, and an innate understanding of technology and sciences. Many of them are immigrants from places like Taiwan, China, India, and Eastern Europe.
They're the ones who will thrive no matter what, because they work hard to understand real material and they put in 12 hour days to do so.
The entitled white guy (or gal) who studied Art History at Harvard, who expects a $100,000 a year job simply for existing, will have a considerably harder time of it. And that represents a large portion of the "angry" demographic.
"The entitled white guy (or gal) who studied Art History at Harvard, who expects a $100,000 a year job simply for existing, will have a considerably harder time of it."
Yet Obama is riding the gravy train of abusive power.
'Classic Information Week rhetorical rip off statement':
----"Ever been to Silicon Valley? Most of the successful CEOs and leaders there have PhDs in hard science (like quantum physics), a few patents to their name, and an innate understanding of technology and sciences."
Hmm... Micheal Dell, Steve Jobs, Larry Ellison, and Mark Zuckerberg all dropped out of college. These men are Silicon Valley's main line billionaires.
Andy Groves, the one with a PhD [ but in Chemical Engineering, not Electronics ], was one of the few authentically educated (and knowledgeable) persons who really ran an chip/electronics company, Intel. BTW, Andy's been retired now for almost a decade. And don't get me started on the advertising firms of the likes of Yang, Paige, and Brin. Those are non-tradeable services.
Hard sciences... Xerox (most industrial papers in computer sciences next to Bell Labs) is practically gone. HP hasn't invented anything new since they dumped their medical instruments divisions, as well as their own RISC line. The Cisco router was invented some twenty to thirty years ago.
Wake up! These are salesmen who've conned the masses into thinking that they're the real deal. Silicon Valley was yesterday's story, trying to milk the same cow, after much of our electronics design and production has move abroad.
Right now, if you actually travel the land, you'll see more and more PhDs working at one to two year stints at colleges, coast to coast. That's the state of our most educated personnel, who're not doctors or lawyers, as if we really need more of those.
The privileged, whose parents already have money, will always do better than poorer but smart people simply trying to find work to keep a roof over their heads.
If anything, that last real wave was from 1970 to 2000, when technology sector jobs provided a path, for anyone willing to study hard, to find work in tech. This also included women and minorities and also didn't exclude those who couldn't attend the ivies or MIT.
Many of them are immigrants from places like Taiwan, China, India, and Eastern Europe.
I say it again, if those people are so smart, why do they flock to the US, instead of staying there to fix their POS countries? Funny how that works.
The "oh-so smart" people from Asia who live off Americans. Those people are nothing but human-xerox, living off what the US creates. Plus we have to put with all the piracy and counterfeit crap that rob trillions from Americans. From Nikes to Hollywood movies, they're all ripping us off. Hey, but they're the geniuses!
Just look at them now, as soon as the Americans stop buying from our factories, which we transferred there, all hell breaks loose. Please, stick to Chinese Food and praying to elephant man. Friedman, the Zionist-Global Elite disinformation agent would love to s*ck your small Asian d!cks, though. Call him!
My Grandfather was survivor of Hiroshima bomb. He is now dead but if he was alive today he would chuckle at your post.
His back and abdoment were burned by the bomb blast, his first wife was outside hanging laundry while he worked inside the house. She was reduced to a shadow on the wall of the house while he survived.
Now when I think back on some of the things he said, I can understand what true destruction looks like and it's not your version of it Keith.
This is nowhere near what you make it out to be. Not even close.
Will food still grow after your "Armageddon?", Will the air still be breathable? Will people be dropping like flies days and weeks after the "blast" that kills the modern financial world?
Will you still be able to drink the rain water you collect when they municipalities can no longer pump water to your home?
Nothing is as bad as a nuclear bomb. Nothing.
Get up, go to work, do something productive. Bartering always has and always will remain the most stable long-term form of trade.
So barter for what you need and make something for someone else.
"Brain: Many of them are immigrants from places like Taiwan, China, India, and Eastern Europe.
Anon: I say it again, if those people are so smart, why do they flock to the US, instead of staying there to fix their POS countries? Funny how that works."
You see, one can have this discussion w/o the classic xenophobia. The US has assimilated almost everyone since the dawn of its history. Tesla, the greatest electronics engineer moved here, from eastern Europe, back in the 1800s but unlike various jingoists from the old country, he never looked back because he was an American by choice.
Now, the realization is that a lot of the present day Silicon Valley is not the great center for electronics wizardry, as it were back in the 70s and 80s. It's a place full of these sales-y type of advertising companies: Facebook, Google, and even eBay, while a bulk of our electronics design and production was shipped abroad by stingy chip makers (and their partners). Where's the next Xerox or HP? You see, it's not there; the next generation will not have the benefit of the prior ones.
As time moves forwards, the subsequent generation of Americans will depend more and more upon their parents' financial standing than prior generations which benefited from the hi-tech age of the 60s to the 90s. It was technology which allowed the talented or hard working to jump, from one social strata to another. In the future, it'll be every family for itself and in a sense, parents will have to game and scheme to get their kids into medical school or law school, coming out of pre-school. It won't be pretty as even less than top tier medical graduates will probably have a tough time finding work. Class-ism is here to stay.
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