The O'Bama Depression Thread

[Libertas]

Maybe they'll call it the "Gomik" .

Bwuuhaahaaa!  

ETA - I wonder if Vlad calls Obama "zalupa"?!   

[IronDioPriest]

Best Buy closing 50 superstores in effort to chart a path to profitability

[Libertas]

Best Buy closing 50 superstores in effort to chart a path to profitability

B-b-b-b-but all is well?  The Regime says so!!!

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[Pandora]

I have a dual-fuel stove; the burners on top use propane, the oven is electric.  Almost two weeks ago, the oven stopped working; a computer board had blown.  The repairman just brought the new one yesterday, although I had him order it right away because we diagnosed the problem over the phone.  Why so long?  His supplier didn't have it; it was on back-order.  It was on back-order because so many vendors have closed up shop.

[warpmine]

I have a dual-fuel stove; the burners on top use propane, the oven is electric.  Almost two weeks ago, the oven stopped working; a computer board had blown.  The repairman just brought the new one yesterday, although I had him order it right away because we diagnosed the problem over the phone.  Why so long?  His supplier didn't have it; it was on back-order.  It was on back-order because so many vendors have closed up shop.

...but all is right as rain!

[Predator Don]

I have a dual-fuel stove; the burners on top use propane, the oven is electric.  Almost two weeks ago, the oven stopped working; a computer board had blown.  The repairman just brought the new one yesterday, although I had him order it right away because we diagnosed the problem over the phone.  Why so long?  His supplier didn't have it; it was on back-order.  It was on back-order because so many vendors have closed up shop.

When I have equipment break down....it is always a min 2 - 3 weeks for repair because no one is stocking parts. Frustrating. But the new reality of this recovering economy..LOL

[Libertas]

This Faber guy mystifies me...admits the Fed is pumping hot air into the stock market and then recommends owning some stocks, and real estate?  The latter only makes sense if you want to snatch up cheap land for TEOTWAWKI compound!  If inflation is going to be hellish, all I want is valuable commodities to retain wealth (PM's) are to trade in a barter system (PM's and a plethora of other needed goods)!

http://www.cnbc.com/id/46923999

[Predator Don]

This Faber guy mystifies me...admits the Fed is pumping hot air into the stock market and then recommends owning some stocks, and real estate?  The latter only makes sense if you want to snatch up cheap land for TEOTWAWKI compound!  If inflation is going to be hellish, all I want is valuable commodities to retain wealth (PM's) are to trade in a barter system (PM's and a plethora of other needed goods)!

http://www.cnbc.com/id/46923999

I watch CNBC in the mornings. I believe most of them are afraid to actually report what will happen at some point. Back in 2008, there was a 40 acre tract of land( close to the 38 acres we own) on the interstate we considered purchasing. It carried a 250K price tag and we thought it was a deal and considered purchasing it, but was beat to the punch, so to speak. Last week it was forclosed and bought for 40K. ( BTW, I missed out on that too)

I only post because it is a prime example of lost wealth. Land here on the I 65 corrider located on an exit between Nashville and the KY state line used to bring 100-140K per acre. Now, you are lucky to sell the most prime real estate for 30K- 40K an acre and that is if there were buyers. A 52 acre farm, with two 1200 ft houses, recently auctioned for 200K.

And this is in the liberals good economy.

[Libertas]

This Faber guy mystifies me...admits the Fed is pumping hot air into the stock market and then recommends owning some stocks, and real estate?  The latter only makes sense if you want to snatch up cheap land for TEOTWAWKI compound!  If inflation is going to be hellish, all I want is valuable commodities to retain wealth (PM's) are to trade in a barter system (PM's and a plethora of other needed goods)!

http://www.cnbc.com/id/46923999

I watch CNBC in the mornings. I believe most of them are afraid to actually report what will happen at some point. Back in 2008, there was a 40 acre tract of land( close to the 38 acres we own) on the interstate we considered purchasing. It carried a 250K price tag and we thought it was a deal and considered purchasing it, but was beat to the punch, so to speak. Last week it was forclosed and bought for 40K. ( BTW, I missed out on that too)

I only post because it is a prime example of lost wealth. Land here on the I 65 corrider located on an exit between Nashville and the KY state line used to bring 100-140K per acre. Now, you are lucky to sell the most prime real estate for 30K- 40K an acre and that is if there were buyers. A 52 acre farm, with two 1200 ft houses, recently auctioned for 200K.

And this is in the liberals good economy.

I keep hearing all the happy-happy talk about real estate turning around, maybe in tightly isolated packets, but the foreclosures are still roiling things and there is ZERO attempt to end the imbalances set in place by congress since the late 80's (CRA, F/F etc) so any "recovery" is guaranteed to be short lived at best and pretty certain to collapse at some point!

[Predator Don]

This Faber guy mystifies me...admits the Fed is pumping hot air into the stock market and then recommends owning some stocks, and real estate?  The latter only makes sense if you want to snatch up cheap land for TEOTWAWKI compound!  If inflation is going to be hellish, all I want is valuable commodities to retain wealth (PM's) are to trade in a barter system (PM's and a plethora of other needed goods)!

http://www.cnbc.com/id/46923999

I watch CNBC in the mornings. I believe most of them are afraid to actually report what will happen at some point. Back in 2008, there was a 40 acre tract of land( close to the 38 acres we own) on the interstate we considered purchasing. It carried a 250K price tag and we thought it was a deal and considered purchasing it, but was beat to the punch, so to speak. Last week it was forclosed and bought for 40K. ( BTW, I missed out on that too)

I only post because it is a prime example of lost wealth. Land here on the I 65 corrider located on an exit between Nashville and the KY state line used to bring 100-140K per acre. Now, you are lucky to sell the most prime real estate for 30K- 40K an acre and that is if there were buyers. A 52 acre farm, with two 1200 ft houses, recently auctioned for 200K.

And this is in the liberals good economy.

I keep hearing all the happy-happy talk about real estate turning around, maybe in tightly isolated packets, but the foreclosures are still roiling things and there is ZERO attempt to end the imbalances set in place by congress since the late 80's (CRA, F/F etc) so any "recovery" is guaranteed to be short lived at best and pretty certain to collapse at some point!

The real estate market...if you can call it a market, is far from correction. There are so many foreclosed and short sale houses in my area its scary...and our economy in Mid tn is supposed to be better than other areas.

[Charles Oakwood]

IMHO:  We know inflation comparable to that of the late 70s and early 80s
is coming.  Buying land will preserve the value of the dollar. Some companies
will survive and prosper, pick those and they will do as well or better than land
and will be easier to transfer. 

This is all predicated on the assumption our next president
will eliminate the current socialist trajectory on which we are
headed and return us to aggressive capitalism.


There is a story of the Wright brothers mechanic.  He built the engine that
powered the airplane that flew at Kitty Hawk and remained with the brothers
until he retired.  When he retired he was given a stipend of $800.00 a year for
life, at the time it was a handsome sum.  He lived until after WWII and died a
pauper.  Because of inflation $800.00 was no longer a handsome sum.

[Libertas]

About all I will quibble with CO is land retaining value, it presupposes a viable market at some future point in time where it is uncertain as to the availability of buyers and assumes a medium of exchange of real value not eroded by inflation or debasement.  Real estate for real need now and into the future yes, for "investment"?  That I cannot reconcile given where we are and where we are headed.  Oh, and as far as "aggressive capitalism", under Romney I do not see that.  Moderate capitalism perhaps, not aggressive, and some crony capitalism will still be present, just not at the current stratospheric levels we see.  Not that the Democrat-Media Complex won't crucify Mitt for it when they can expose it, regardless if it was 1,000 times worse under their defeated Dear Leader!

[Charles Oakwood]

Those statements from Rush about his conversation with Romney were
heartening.  When he capped it saying he knew he would be a one term
president and was going to do what was necessary. 

And yeah, that's why the caveat, if he doesn't shut down the regulators
all bets are off.

[Libertas]

Speaking of shutting down...

UI Claims jump up!

http://www.zerohedge.com/news/initial-jobless-claims-soar-past-expectations-hit-380k-highest-january

And, markets runneth too hot!

http://www.zerohedge.com/news/presenting-economic-reality

Reality, it's just so...so...real!

!

[Libertas]

Claims up again, what a shock, and expectations once again punked, and they will be revised upwards later on, again...rinse/repeat...rinse/repeat...

http://www.zerohedge.com/news/inital-claims-soar-again-ninth-consecutive-miss-expectations-row-bls-back-propaganda-school

 

Oh, and WSJ is officially full-blown in-the-tank stupid!

http://www.zerohedge.com/news/initial-claims-propaganda-101

 

BOHICA!

[Charles Oakwood]

Still, all the attempts of the banking cartel to suppress gold and silver prices remain subject to the Law of Diminishing Returns, and gold and silver, while still range bound at the moment, will break free and continue their upward trend soon enough.

Bank cartels: Eric Boling's theory of high oil prices is bank cartels buying and selling huge lots of paper oil.
Juggling these two commodities, that usually run in tandem, in opposition to each other would create an
appropriate confusion or distraction to observers causing faulty conclusions.


 

[Libertas]

Still, all the attempts of the banking cartel to suppress gold and silver prices remain subject to the Law of Diminishing Returns, and gold and silver, while still range bound at the moment, will break free and continue their upward trend soon enough.

Bank cartels: Eric Boling's theory of high oil prices is bank cartels buying and selling huge lots of paper oil.
Juggling these two commodities, that usually run in tandem, in opposition to each other would create an
appropriate confusion or distraction to observers causing faulty conclusions.


 

But those aren't the kind of speculators Obama wants to target!  They contribute to his campaign coffers!

[Charles Oakwood]

Derivatives, Banks, and Debt

http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html

This is an awesome graphic depiction of the biggest banks debt.

So to present, visually this time, the US derivatives problem, we go to our friends from Demonocracy, who put the $229 trillion derivative 'issue' in its proper context. For those curious what a paper equivalent of bailing out the US derivatives market would look like, now you know.
http://www.zerohedge.com/news/mother-all-infographics-visualizing-americas-derivatives-universe

[BMG]

http://www.reuters.com/article/2012/04/23/gm-dealerships-idUSL5E8FN6CE20120423

GM CEO Dan Akerson said on Monday that the company would expand its dealership network in China this year by about 600.

"We will expand our dealer network to 3,500 stores from the 2,900 that we ended up with in 2011," he told reporters.

I believe I quoted the entire piece so there isn't much info to be had...
...regardless, as if our economy isn't in bad enough shape, the Obama minions running Government Motors now wish to ship even more work overseas.

[Libertas]

Derivatives, Banks, and Debt

http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html

This is an awesome graphic depiction of the biggest banks debt.

So to present, visually this time, the US derivatives problem, we go to our friends from Demonocracy, who put the $229 trillion derivative 'issue' in its proper context. For those curious what a paper equivalent of bailing out the US derivatives market would look like, now you know.
http://www.zerohedge.com/news/mother-all-infographics-visualizing-americas-derivatives-universe

Yeah, global ponzi illustrated.  What could go wrong?

/