National Goverment Deficit Spirals Out of Control; $165,040,000,000.00 In July

[NCVol]

The cause of the 2008 economic collapse and the de-leveraging we will see for YEARS is as follows:

U.S. government monetary policy driven through the Treasury and the Federal Reserve.  It's that simple.

TARP and the bailouts that supposedly "pulled us back from the brink" as BHO put it in his first state of the union address, will only further exacerbate the collapse.  Corporate, personal and sovereign debt is at all time highs and the precious credit that is required to get the economy going again is concentrated in very few hands (mega-financial institutions) with no signs of loosening any time soon.

In summary we put the foxes in charge of the chicken coop and now we're broke thanks to a financial and monetary system that was essentially a big ponzi scheme.  And guess who gets left holding the bag?

My goodness, and you didn't even have to bring up Nancy Pelosi or the Kenyan?! 

We don't agree on everything, but at some point we should all be able to read a debt chart over the past century, see what happened in the 1920s, and draw appropriate parallels for today, but worse.  Fact is debt increases at an escalating rate, like any good ponzi scheme, and the collapse was inevitable, which is why several thinking economists who by definition did NOT work at the Fed or Wall Street hacks seemed to recognize the essential problem and sounded the alarms long ago. 

Stein's Law:  Anything that cannot continue forever will end (loose translation).  Debt escalating at an increasing pace....

I'm waiting on a serious analysis that ties together all the incredibly many factors in place that are near repeats of the Great Depression.   Someone just needs a big time economist to give the project the mojo. 

[GRAY]

unfortunately for NC, the independents have awakened. they no longer want the left in power. it's over.

[GRAY]

vox day has done this..

http://admin.returnofthegreatdepression.com/blog/

[Jeremy Roenick]

Here's some clarity for you NC...  The Hindenburg Omen.  I'm sure you've seen this in the financial blogs the past week:

http://www.thestreet.com/story/10838195/1/mr-hindenburg-omen-get-out-now-before-market-crash.html?puc=_tscrss

Mr. Hindenburg Omen: Get Out Now, Before Market Crash

Hope everyone sold their short positions today with the big rally.  Might be the last 3-digit increase we see in the DOW for a long time.  Notice the selling pressure that hit the DOW in the last couple hours of trading.  This market is schizophrenic.  It has no direction or sense of itself.  When the collapse comes, it will be easily accelerated with the paranoia among investors right now.  To say that confidence in the US economy is "shaken" would be the understatement of this young century.

[NCVol]

unfortunately for NC, the independents have awakened. they no longer want the left in power. it's over.

The independents remember Bush and the GOP majority and still dislike republicans just slightly more than democrats. 

What's interesting is the right wing crazies can't actually be honest about what they want.  Why won't Sharon Angle and Paul, for example, be honest about gutting SS and Medicare?  Don't you think dishonesty is a poor way to start a revolution?  When old people get a voucher for their heathcare that covers half the cost of insurance, and they can't afford the other half, do you really think they'll be satisfied by idiot theories put in a novel by Ayn Rand about how this is a great deal for them as they starve? 

[GRAY]

to me the idiot theory was believeing the papaw government would take your money for 3 decades, put it in a trust fund, and give it back to you when you retire.

we will see bout those indies, NC

[Just Win]

to me the idiot theory was believeing the papaw government would take your money for 3 decades, put it in a trust fund, and give it back to you when you retire.

we will see bout those indies, NC

Gray,

Keep your eyes on the deficit numbers in relation to a % of GDP. The Democrats and the President will use this over-spending by the Reid/Pelosi congress as a way to bring in the VAT tax. Things are not working and GDP is falling as the Obama deficits are skyrocketing. We have got to get a handle on the over-spending by the Pelosi/Reid congress. 


 



The Obama unemployment numbers from his Department of Labor