On Apr 1, 3:46=A0pm, phil scott <p...@[EMAIL PROTECTED]
> wrote:
> 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 =A0'going on' =A0 =A0imo... its cra****ng as we speak, and
tha=
ts
> 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.... =A0this is currently, and
> actively, and dramatically putting the US out of business at all
> levels...
>
> .including govt at all levels.... these are increasingly unable to
> operate =A0(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..... =A0 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. =A0 =A0 =A0 =A0 How much longer that aspect will last =A0is
=A0p=
erhaps
> 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? =A0 =A0 =A0 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.
>
> ... 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, =A0 =A0 =A0(mapped by the Russian
> economist, kondratiev, analysed by Prof Ravi Batra..in =A0his book 'the
> coming depression 1990)
>
> Phil Scott
I agree with you that, although the Markets have been comparatively
stable for the last couple of months, all this is discounting the
collapse of the dollar, which, effectively, means the value of the
Markets have already been reduced by more than 50% in the last few
years. The U.S. currency did not collapse during the Great
Depression. Just the Markets.
Moderate optimism is one thing. Mindless optimism is another.
Perhaps the investors are anticipating fundamental restructuring of
the entire economy. Maybe that will occur. IF the rich spread their
wealth around, and start investing in jobs and new technologies, then
there might be something to invest in. There really isn't anything,
yet.
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