Topic: Government & Wealth

[charlesoakwood]

ZeroHedge

[blockquote]    “What I was looking at was a tussle between two groups of mass-men, one large and poor, the other small and rich. As judged by the standards of a civilised society, neither of them any more meritorious or promising than the other. The object of the tussle was the material gains accruing from control of the State’s machinery. It is easier to seize wealth than to produce it; and as long as the State makes the seizure of wealth a matter of legalised privilege, so long will the squabble for that privilege go on.”

    Alfred Jay Nock - Memoirs Of A Superfluous Man - 1943.[/blockquote]

and


[blockquote]After Creating Dollar Exclusion Zones In Asia And South America, China Set To Corner Africa Next"

Yep: the Yuan may not be the reserve currency by default, but at this rate China will have bilateral, read USD-bypassing relations, with all countries in Asia, South America and shortly Africa...            

Looks like Mittens has more work than previously thought, actually this may be his best game.[/blockquote]

[Libertas]

Assuming of course the Chi-Com economy itself doesn't implode, but the way out of that is the same as after it implodes...war.

[charlesoakwood]

here

When he [Marc Faber] was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered:

“100%.”

It's going to be a repeat of Carter/Reagan.  It won't be exact because things are different but the cycles will be very similar.  Gold will go up and drop just as other equities did and will drop.  And if Romney is affective, and he will be for this is his game, at the bottom we will see mechanisms in place, and positive outlook, for recovery.  Recovery should be felt in mid '15 and solid in '16.

[warpmine]

here

When he [Marc Faber] was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered:

“100%.”

It's going to be a repeat of Carter/Reagan.  It won't be exact because things are different but the cycles will be very similar.  Gold will go up and drop just as other equities did and will drop.  And if Romney is affective, and he will be for this is his game, at the bottom we will see mechanisms in place, and positive outlook, for recovery.  Recovery should be felt in mid '15 and solid in '16.

You mean two more years of this crapsandwich?

[Weisshaupt]

here

When he [Marc Faber] was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered:

“100%.”

It's going to be a repeat of Carter/Reagan.  It won't be exact because things are different but the cycles will be very similar.  Gold will go up and drop just as other equities did and will drop.  And if Romney is affective, and he will be for this is his game, at the bottom we will see mechanisms in place, and positive outlook, for recovery.  Recovery should be felt in mid '15 and solid in '16.

You mean two more years of this crapsandwich?

No, it will be longer. Probably much longer.   Reagan didn't come into office with 16 Trillion in debt and the entitlements exploding. If elected,  Mittens is going to get to play the same stupid game they are playing in Europe. Print and go broke by inflation, or don't print and go broke trying to actually pay the bills. Obamacare moves this timetable up even more.  We are over the event horizon. There is some truth to the Keynesian Austerity argument.. suddenly and drastically cutting govt spending on entitlements will hurt the economy in the short term  as will raising interest rates  However, that is the only action that could save the economy long term .  Mittens and the GOP don't  have the balls to do it. They are already talking about Obamacare would be "too hard" to dismantle. Obamacare/Taxageddon  will ramp in during his same time period and double whammy the economy. We will also be fully engaged in WWIII by then.  By the time President Scapegoat leaves office ( assuming  he doesn't leave it via a lamppost) the yearly deficit will be over 2 trillion and rising. China will cut us out of world trade, and become the defacto reserve currency, and dollars will have less pull on the world's markets.  But then China's currency will flop as well.  Everything we buy will be 50-100% more expensive, and we will still have 20-30% unemployment.  Even if this ends up being a controlled crash - this will be at least a 50% drop in everyone's standard of living.  This will of course get the usual suspects up in arms about "fairness" for the working man,  and they will vote for and get even more "reforms" that will further cripple  the economy and further erode our freedoms.

Guns, Ammo, Food and Gold guys.  There is no quick  recovery coming this time. It may not even occur in  my children's lifetime. If there isn't a revolt, we will slide into being a"socialist" banana republic- and look a heck of a lot like Cuba. There is a lot of wealth here to loot- but it will be China doing the looting.

[Libertas]

Exactly right, they cannot look to the long-term, they view the long-term as merely a series of short-term patches, they think they can go from one patch to the next and not have to pay the piper, but the piper's flute keeps growing and at some point the note he hits will shatter everything.  The Neo-Keynesian house of cards has to crumble, and it is being over-built upon day after day, adding more mass will make the collapse so painful not a soul on the earth will be able to escape its effects.  Those who fail to plan for the collpase will be destroyed immediately, those who only prepared a little will be preyed upon by the starving hordes and will be lucky to last a couple months.  Long-term planning is all people should be doing, and I'd bet just a few percent of the population are.  It ain't gonna be pretty.

[Sectionhand]

A lot of this is derived from Stymie's "Licence To Steal" interpretation of the Commerce Clause . He also cites the "Santa Clause" but that only applies to campaign contributions .

[Libertas]

Don't forget the regulatory faery.

 

[Weisshaupt]

Exactly right, they cannot look to the long-term, they view the long-term as merely a series of short-term patches, they think they can go from one patch to the next and not have to pay the piper, but the piper's flute keeps growing and at some point the note he hits will shatter everything.  The Neo-Keynesian house of cards has to crumble, and it is being over-built upon day after day, adding more mass will make the collapse so painful not a soul on the earth will be able to escape its effects.  Those who fail to plan for the collpase will be destroyed immediately, those who only prepared a little will be preyed upon by the starving hordes and will be lucky to last a couple months.  Long-term planning is all people should be doing, and I'd bet just a few percent of the population are.  It ain't gonna be pretty.

The collapse may very well not be an immediate overnight thing. Indeed, I would argue that the collapse began in 2008. We have record numbers of people on the government dole because the standard of living has been dropping. I greatly fear that the powers that be will declare martial law before we get to the actual - "not enough food on the shelves" stage of the collapse,  and they will start trying to confiscate from the "hoarders."  Point is, they will drag this out as long as they can, and the longer they drag it out, the longer the idiots  have to adapt.  A sudden and painful event would be best, but I am not at all confident we will get it.

  - (via the looking spoon and IMAO)

[Libertas]

Exactly right, they cannot look to the long-term, they view the long-term as merely a series of short-term patches, they think they can go from one patch to the next and not have to pay the piper, but the piper's flute keeps growing and at some point the note he hits will shatter everything.  The Neo-Keynesian house of cards has to crumble, and it is being over-built upon day after day, adding more mass will make the collapse so painful not a soul on the earth will be able to escape its effects.  Those who fail to plan for the collpase will be destroyed immediately, those who only prepared a little will be preyed upon by the starving hordes and will be lucky to last a couple months.  Long-term planning is all people should be doing, and I'd bet just a few percent of the population are.  It ain't gonna be pretty.

The collapse may very well not be an immediate overnight thing. Indeed, I would argue that the collapse began in 2008. We have record numbers of people on the government dole because the standard of living has been dropping. I greatly fear that the powers that be will declare martial law before we get to the actual - "not enough food on the shelves" stage of the collapse,  and they will start trying to confiscate from the "hoarders."  Point is, they will drag this out as long as they can, and the longer they drag it out, the longer the idiots  have to adapt.  A sudden and painful event would be best, but I am not at all confident we will get it.

  - (via the looking spoon and IMAO)

Well, that sucks.  Only a massive and immediate event stands a chance to shock people awake.  Incrementalism the sheeple are used to, and that just plays into the despots plans.  We should all quit work, go on the dole, file bankruptcy and flood the emergency rooms when we get a sniffle.  The host must die before the virus can be purged.