Why the US is in an invisible Depression

[Father of four]

Justin Bieber?

 

[knuckle Head]

More good news boys and girls,

""Detroit isn't the only Michigan municipality facing fiscal distress. This month, Snyder said a fiscal emergency existed in Hamtramck, a city of 22,000 encompassed by Detroit.

Hamtramck, along with other Michigan communities under an emergency manager, such as Pontiac and Flint, will face even higher penalties as investors anticipate a similar treatment of general-obligation debt, Solender said. ""

Detroit Recovery Plan Threatens Muni-Market Underpinnings - Bloomberg

Now, my personal perspective from living in the Detroit area most of my adult life and growing in the suburbs. First I am not at all surprised, there was more corrupt government officials in Detroit than one could imagine, Mayor Coleman Young in the 80's used a city owned private to fly the world in, the school board members had chauffer's, there were more union sweet heart deals, contractors were chosen on how much they kicked back to officials and inspectors. You name it.

Anyone been there lately, heck I was on the outskirts a year ago, I told my dad is he dies before me, that his funeral (in a nice way) it will be my last trip to southeast MI, unless I have to go there for business. There roads hideous,, they have a 164,000 lb. weight limits <broken link removed> , I had an apartment once a 100 yards off M-59, I could feel the gravel trains coming 2 miles down the road and they say the crazy weight limits do not affect how fast the roads tear apart.

Its not just the roads, the entire infrastructure is in decay and allow they think about is that they cannot afford the 4th of July fireworks, how to give more money to welfare rats, going to weekend seminar in Hawaii, which 4 members of the Detroit school board did just last month for a total cost of $22K, as long as crap like this goes on. Michigan cities, Kalifagy cities, DC, New Orleans, cities in OH all over will continues to default spiraling us into a deeper and deeper recession or a hidden depression.

Did anyone notice what happened to the stock market the other day when there was hint the money printers would quit creating digital funds to keep it pumped up.

I have tried to figure out how fast this and all of the other great things in our world will cause our fiat currency to belly up, but every time I do, I think well by my logic it should already crashed, so I guess as long as people have faith in it, it will keep going at greatly reduced spending power every year though, but it will keep on a chugging.

But I highly suggest anyone sitting on the sidelines not doing anything to prepare themselves, family, household etc.. sit down and give it some serous thought, because we will have a crash and then we will have total police state, you better start figuring out how you are going to deal with it or walk off a cliff one.

 

[EZLivin]

I have tried to figure out how fast this and all of the other great things in our world will cause our fiat currency to belly up, but every time I do, I think well by my logic it should already crashed, so I guess as long as people have faith in it, it will keep going at greatly reduced spending power every year though, but it will keep on a chugging.

This is a tough time for people who look at the world rationally and logically. I never thought we would get to a point where every market (currencies, equities, bonds, commodities) would be manipulated (blatantly) to the extent that they are, and where the Squid would own just about every Western government. But that seems to be the case. Economic laws, like physical laws, will win out in the end though. They always do. "Always bet against central banks, and with the real world," as Jim Rogers says.

Out of the blue my daughter, who apparently stayed awake in history class, said the other day, "I wish I lived in the Roaring Twenties." My answer was - "You did. The extravagance of our society during your middle school and high school years was our modern version of the Roaring Twenties. Its over, and now its collapsing - again."

 

[Father of four]

More good news boys and girls,

""Detroit isn't the only Michigan municipality facing fiscal distress. This month, Snyder said a fiscal emergency existed in Hamtramck, a city of 22,000 encompassed by Detroit.

Hamtramck, along with other Michigan communities under an emergency manager, such as Pontiac and Flint, will face even higher penalties as investors anticipate a similar treatment of general-obligation debt, Solender said. ""

Detroit Recovery Plan Threatens Muni-Market Underpinnings - Bloomberg

Now, my personal perspective from living in the Detroit area most of my adult life and growing in the suburbs. First I am not at all surprised, there was more corrupt government officials in Detroit than one could imagine, Mayor Coleman Young in the 80's used a city owned private to fly the world in, the school board members had chauffer's, there were more union sweet heart deals, contractors were chosen on how much they kicked back to officials and inspectors. You name it.

Anyone been there lately, heck I was on the outskirts a year ago, I told my dad is he dies before me, that his funeral (in a nice way) it will be my last trip to southeast MI, unless I have to go there for business. There roads hideous,, they have a 164,000 lb. weight limits <broken link removed> , I had an apartment once a 100 yards off M-59, I could feel the gravel trains coming 2 miles down the road and they say the crazy weight limits do not affect how fast the roads tear apart.

Its not just the roads, the entire infrastructure is in decay and allow they think about is that they cannot afford the 4th of July fireworks, how to give more money to welfare rats, going to weekend seminar in Hawaii, which 4 members of the Detroit school board did just last month for a total cost of $22K, as long as crap like this goes on. Michigan cities, Kalifagy cities, DC, New Orleans, cities in OH all over will continues to default spiraling us into a deeper and deeper recession or a hidden depression.

Did anyone notice what happened to the stock market the other day when there was hint the money printers would quit creating digital funds to keep it pumped up.

I have tried to figure out how fast this and all of the other great things in our world will cause our fiat currency to belly up, but every time I do, I think well by my logic it should already crashed, so I guess as long as people have faith in it, it will keep going at greatly reduced spending power every year though, but it will keep on a chugging.

But I highly suggest anyone sitting on the sidelines not doing anything to prepare themselves, family, household etc.. sit down and give it some serous thought, because we will have a crash and then we will have total police state, you better start figuring out how you are going to deal with it or walk off a cliff one.

They must have taught the Obamas. Look at all the wasteful tax payer money the Obamas spend. Like what 300+ millions a year on vacations? Ridiculous!

 

[Father of four]

Pump it Bernanke, just keep the pump a pumping!

 

[Burt Gummer]

The 85 billion a month is going over to their other criminal Euro banks, with some handed off to their other criminal buddies on Wall St (GS). Called looting the treasury. I am sure all of this will go on forever without any consequences.

When Americans didn't have too much of a cow over the bailouts, the banksters decided to not even bother hiding their treachery. They used to at least bother covering up their thievery. Not anymore.

It sounds reasonable that you can print trillions in paper/digits for the criminal cartels, leave nothing for the people, and that us minions will never suffer any inflation or pain. I believe that.

 

[Blitzkrieg]

Location

Food

Water

Supplies/tools

Guns and ammo and a way to pay property tax till it all implodes

 

[knuckle Head]

We are borrowing $0.46 of every dollar we spend as a nation yet we are giving away billions to other countries in financial aid every year, now what part of that makes any sense??

Obama is going a trip to his birthplace at our expense of $100m, by the way that $100m given to DOD would keep approximately 30,000 federal employees from being furloughed this summer. Some may say it is a good thing, but that is wrong they are furloughing DOD federal employees not people from the IRS, Welfare office, Social security, the arts, hhs or dept of ed.

The people being furloughed are the ones who make sure our military have what they need to protect our country.

But back to hidden depression - anyone notice that food and beverage prices are rising again, beef is up, the price of boxed wine at sams clubs has risen from $13.50 to $16.88 in the last year, prices of tools are up, by my figures the true rate of inflation is up 30% in two years, this is very unnerving to me.

 

[Blitzkrieg]

Knuckle, check that boxed stuff out.. a lot of it isn't even grape wine but more like kool aide with alcohol added, very tricksy

 

[Burt Gummer]

The 441 TRILLION Dollar Interest Rate Derivatives Time Bomb

 

[2506]

"They must have taught the Obamas. Look at all the wasteful tax payer money the Obamas spend. Like what 300+ millions a year on vacations? Ridiculous!"

$300 million a year he says. And that number comes from...?

 

[Burt Gummer]

Well just this ONE is 100 million - What Sequester? Obama family to take 100 MILLION DOLLAR African vacation - Topix

President Obama and his family will be going to Africa later this month. But the trip won't be cheap; it's expected to cost American taxpayers $100 million, according to the Washington Post.

"Military cargo planes will airlift in 56 support vehicles, including 14 limousines and three trucks loaded with sheets of bullet-proof glass to cover the windows of the hotels where the first family will stay. Fighter jets will fly in shifts giving 24-hour coverage over the president's airspace so they can intervene quickly if an errant plane gets too close.

Puppets are treated very well. Look at GWB and his incredible spread in Paraguay. All self-sustaining w/ solar, water, etc. Idiot Americans bought into the cowboy hat Texas ranch good ol' boy propaganda. No, puppets do their job, are well compensated for it, then leave so they don't have to be here for SHTF.

 

[Blitzkrieg]

"They must have taught the Obamas. Look at all the wasteful tax payer money the Obamas spend. Like what 300+ millions a year on vacations? Ridiculous!"

$300 million a year he says. And that number comes from...?

In Africa guys like obongo are called "The Great White Elephant"...

 

[Burt Gummer]

The only thing that could save the USA from economic destruction at this point is if we gave the finger to our British Oligarchy owners and cut them off. You know, like we SUPPOSEDLY did in our revolution.

It is pretty much hopeless because their systems of control are intertwined around every facet of our society. We are their sub-corporation and completely under their control.

Almost ironic that dumbed down Americans chose so many targets around the globe to be their enemy - let's just say Brown People - while all along our enemies and controllers are treated as our best buddies.

Lyndon LaRouche Declares: Only Preemptive Bankruptcy Action Against British Can Save The United States | The Daily Sheeple

Lyndon LaRouche summarized the state of war and the emergency measures that must be adopted by the United States Government immediately: "We put through a motion, a declaration tonight of the intent, that the United States must adopt, with respect to the plan of the British to bankrupt and loot the United States. And that is what we can do, and must do. So, by our announcing that, by saying what the intention is to loot and destroy the United States, by the British, and that we are not going to tolerate it, we force preemptive appropriate action. And that's the way you deal with it."

 

[Blitzkrieg]

I hasten to add an old truism..

Violence solves everything

Of course that assumes a moral citizenry 110% intent on liberty and justice, implementing such as the Founders did

 

[Asp]

I hasten to add an old truism..



Of course that assumes a moral citizenry 110% intent on liberty and justice, implementing such as the Founders did

The founders also built communities with each other. They didn't go out into the woods and build a bunker for oneself and their best friend. They found people on board, and vetted who they could not trust with spirit and idea of their objective.

Those who were traitors, were off to Scotland via the low road.

 

[Blitzkrieg]

The founders also built communities with each other. They didn't go out into the woods and build a bunker for oneself and their best friend. They found people on board, and vetted who they could not trust with spirit and idea of their objective.

Those who were traitors, were off to Scotland via the low road.

I agree in general, but that requires trust and honor, things apparently missing these days. Have you studied the many betrayals of patriots in Scotland?

 

[ATCclears]

Central banks sell record sums of US debt - FT.com

Central banks sold a record amount of US Treasury debt last week while bond funds suffered the biggest ever investor withdrawals as markets shuddered at the prospect of the US Federal Reserve ending its quantitative easing programme.

Holdings of US Treasuries held at the Fed on behalf of official foreign institutions dropped a record $32.4bn to $2.93tn, eclipsing the prior mark of $24bn in August 2007. It was the third week of outflows in the past four.

Private investors are also dumping fixed income. Bond funds tracked by EPFR Global, a data provider, saw total redemptions of $23.3bn in the week to June 26. US funds were the worst hit, with withdrawals totalling $10.6bn, but emerging market debt funds also saw record redemptions of $5.6bn.

Over the past five weeks emerging market debt and equity fund outflows have totalled $35bn, of which $22.5bn has fled stock market funds.

"People are throwing in the towel," said Markus Rosgen, chief Asia equity strategist at Citigroup. "It'll drag the market down lower over the course of the summer."

Fixed income markets have tumbled since Fed chairman Ben Bernanke first signalled on May 22 that the US central bank would begin reducing its asset purchases later this year. Yields on 10-year US Treasuries have risen sharply since then, hitting 2.52 per cent on Friday compared with 1.62 per cent at the start of May.

The noticeable rise in short-term Treasury yields &#8211; in spite of the Fed stressing it is in no hurry to tighten policy &#8211; could be the result of developing countries selling Treasury holdings to finance currency interventions.

"We can only speculate at this point about which countries were selling, and what maturities were being unloaded," said Lou Crandall, economist at Wrightson Icap. "One obvious possibility is that emerging market nations whose currencies have been under heavy pressure sold shorter-dated Treasuries for intervention purposes."
"People are throwing in the towel. It'll drag the market down lower over the course of the summer"

- Markus Rosgen, chief Asia equity strategist at Citigroup

Global markets have recently regained some of their footing, with bond yields declining and most stock markets clawing back some losses. The FTSE All World Index has gained 2.7 per cent since Tuesday.

Fund managers stress that the Fed is still buying billions of dollars' worth of bonds for months to come, and point out that actual interest rate increases are far away.

But some asset managers are concerned that if outflows continue it could force some to sell positions once more and trigger another, deeper leg in the fixed income rout, particularly during the illiquid summer months.

"The summer is hot and shallow. If people capitulate then it will not be nice," warns one senior asset manager.

Equity funds failed to benefit from the move out of fixed income, with redemptions hitting $13bn in the week ending June 26.

Japan was the only place to see net equity inflows in the past week, but Japanese investors, big holders of US Treasury debt, dumped a net $12bn of foreign bonds last week, their biggest sale in 14 months.

 

[knuckle Head]

<broken link removed>

Detroit becomes largest US city to file for bankruptcy

 

[ATCclears]

Escape from Detroit. Send in Snake Plissken and turn it into a giant prison...

Peter