On Apr 1, 8:19=A0am, Jerry Kraus <jkraus_1...@[EMAIL PROTECTED]
> wrote:
> http://biz.yahoo.com/ap/080401/wall_street.html
>
> Well, the Markets are up this morning. =A0Why? =A0Well, Construction and
> Manufacturing are down, but "not as much as predicted". =A0 And, the
> major Banks are issuing stock to raise money to prevent them from
> going bankrupt immediately. =A0In other words, they're begging for money
> they don't have.
>
> How long can this nonsense go on? =A0How long can a corrupt system
> scramble to prop itself up with the aid of corrupt politicans and
> cheerleading from the disinformation specialists in the American
> professional economics community, and in the Cor****ation run American
> media?
>
> Time will tell.
Its not just 'going on' imo... its cra****ng as we speak, and thats
because the US cannot control what *other nations think of all this
and its worthless US dollars.... so oil is out the roof, then food,
and the interest on all that debt.... this is currently, and
actively, and dramatically putting the US out of business at all
levels...
=2Eincluding govt at all levels.... these are increasingly unable to
operate (and pay civil service scams that have one nurse here in the
SF bay area earning over $375,000 a year in over time (in a radio news
cast, forgot details)... many cops over 150k, and retiring at even
more... 5 to 10x what us tax payers retire at on average.
that entire mess is hitting the wall now..... in the city of SF 5
years ago I got 600 dollars worth of parking tickets in 4 weeks of
doing business there while working hard at trying to avoid
them...parking tickets were 30 each then, last week they went to 60
dollars, one guy got 3 of them within 5 minutes on the same spot.... a
city that was begging the public to come into SF to buy things ...
there is no way in hell now I even think of going into SF on business
where I need to park etc.
all of that utterly unsustainable, the crash is now deeply in
progress... in slow motion for this brief time as the citizenry burns
off its cash, and credit and overworks trying to make ends meet... as
govt goes bankrupt its ruthless attempts to collect accelerate the
disaster. How much longer that aspect will last is perhaps
your question.
you are wondering how much more funny money the fed can pump into the
disaster to keep it all afloat as we send almost all of it overseas
now to buy oil and manufactured goods? a very good question.
As long as china can spend its dollars buying up america, I suppose it
can go on for quite some time, however will be with the US citizens
working for increasingly less money as our living standards level with
our counter parts in china... and mexico.....that aspect is well
underway, unstoppable at this point imo, and in that context that
ballgame as i see it is already over.
Beyond that, those with big equity in their homes as they age will
most likely get by nicely for the few years they have left to live.
=2E.. due however to a cra****ng tax base, death taxes already just
doubled or worse will become confiscatory at the middle class level,
assuring the rest of this generation and the following generations
will live sparcely indeed.
Those living comfortably today on a modest income, will almost over
night not be living at all comfortably as fuel, food, rent cross the
budget threshold...then these stop buying and the rest of the economic
decline accelerates.
We are beyond the range of 'economic cycles'...we are well beyond the
range of recession/ depression cycles...we are at the end of a life
cycle... or end of empire cycle, (mapped by the Russian
economist, kondratiev, analysed by Prof Ravi Batra..in his book 'the
coming depression 1990)
Phil Scott
|
