How about that debate last night?
I was sure the Donald would go after Fiorina in the debate last night over Hewlett Packard.
That company is a mess.
Well, it’s soon to be two companies now as Hewlett Packard is laying off up to 33,000 workers before splitting in two. I’m sure America would do much the same with that woman in charge.
Really, though, is her performance that bad?
Companies like JPMorgan Chase and Goldman Sachs are doing much worse. JPMorgan was charged with a felony in May for market tampering.
Jamie Dimon has lost more than $6.2 billion since his messes have happened.
When you’re in finance, however, you don’t lose your job when you oversee a massive fuck-up. You get a bonus!
The real problem is that JPMorgan has about $3.5 trillion in assets.
These aren’t assets – they’re liabilities. That’s what debt that no one has the collateral to pay is called.
My God, they’re either have no idea what they’ve done or they do know and they’re rushing for the lifeboats.
Where are you rushing to? There’s nowhere to run.
They’re running to Europe right now, and that’s great – let the EU handle this. For the life of me I can’t understand why Americans are falling all over themselves to get refugees here.
We had 578,424 homeless people in America last January according to the National Alliance to End Homelessness. That’s a huge problem and illegal aliens from south of the border and Syrian refugees are the least of our concerns.
We can’t even take care of our own people for God’s sake!
Oh well, more money for the relief agencies, nonprofits, private prisons, healthcare industry and security contractors. If it adds to that $19 trillion national debt, so what?
This is big money, folks, taking care of people. That’s one of America’s biggest businesses – taking care of people that can’t take care of themselves.
What’s going to happen when America can’t take care of them?
Well, they’ll die.
They’ll die and lots of Americans will be dying as well. It’ll be the old and the infirm first, then the really young.
Of course, most will die when the guns come out. That’ll happen when the food gets scarce.
Yes, hand me my tinfoil hat – I’m talking societal collapse again!
When you’ve got a nation built on debt and you can no longer borrow on credit, how do you think the groceries are going to get to the store?
They’re not, because the guy that needs to use his credit card to buy gas in Seattle isn’t going to be able to. His boss won’t be able to buy the produce on credit. The banks have no money and people have no cash.
We’re a house built on collateral that doesn’t exist and it’s about to be called up.
Wow, you have no idea what I’m talking about, do you?
Hey, don’t feel bad – 90% of America has no idea what’s going on with the financial markets.
Let’s discuss what’s going on. There’s no shame in it. Just because the corporate news doesn’t discuss something doesn’t mean you can’t.
In fact, that probably means you should. Let’s do that.
Interest Rates, Collateral, Leverage and Earnings
Many people today are worried about interest rates. Well, they should be – China has liquidated $184 billion in US Treasuries this year and it’s likely they liquidated another $100 billion in August.
Quantitative easing (printing money) will take place by the Fed to stop this, and that means they won’t raise interest rates.
That’s sad because there’s no way they can absorb the shock that this incredible dumping of US bonds has on the world. It’s just kicking the can down the road.
We need interest rates at 1.6% by the end of 2016 according to the Federal Reserve, but that won’t happen.
They’re afraid the economy will collapse if they raise rates at all. Well, it’s collapsing now.
Don’t let the short-term-memory talking heads on the corporate networks fool you.
The Dow was at 16,599 on Tuesday, September 15. The Nasdaq saw 4,860 and the S&P was 1,978. All had climbed more than 1% that day as industrial stocks were bought up.
Despite the rallies and feel-good sentiment, the Dow was still nearly 1,000 points off its July 27 high. It was also 55 points below where it’d rallied back from after that disastrous dip at the end of August.
Yes, over the past 24 days we’ve gone nowhere.
Well, oil went somewhere. It climbed up from $38.60 at the end of August to $44.85, a nearly $6 gain.
We’ll see if quantitative easing (printing money) will be enough to forestall disaster. I doubt it. I mean, China has a credit bubble that’s $28 trillion.
The problem with the stock market is all the collateral that’s built up, just like in the 1930s. Back then we called it buying on margin, or with debt.
People are going to call in that debt, even if it’s 50 cents on the dollar. Desperate times call for desperate measures, and they’ll get real desperate for the 1% here real soon.
They don’t have any money!
Skilled jobs in America have fallen off precipitously. They made up 60% of our workforce in 1979 but by 2012 they were only 46%.
The idea is to ship all our jobs overseas. NAFT and CAFTA were designed to lower everyone’s pay to the lowest level currently, which was that of the Mexicans.
This needs to happen so that when the borders are eliminated everyone will be about the same. That’s what a flat world means – it’s good for the corporations that want to level everything, including your life.
America’s sovereignty will be leveled, that’s for sure.
At the same time we got rid of our skilled jobs lower-skilled jobs saw their pay fall up to 17%. Today American workers are making the same average incomes they were in 1989.
The median income in America today is $53,700, or $2,019 more than it was in 1989. Back then it was $51,681.
American workers have seen their wages go up $81 a year for a generation.
For the past 25 years, we’ve gone nowhere.
Most people figure the rates will go up, because they have to go up. A lot figure this year, but the problem is, when do you want to crash the economy?
That’s what raising rates will do – cause a crash.
It’s bursting the bubble, and we need it. We can’t keep printing money.
Debt is not money, but we’ve been led to think it is.
When those notes are called, we’ll find out quite quickly that debt is a liability.
Accounting 101, folks – you know it but our government does not.
More money printing is simply not going to work. We can’t keep saying 6 months, 6 months…you can’t keep saying ‘wolf’ forever.
The largest drop in the stock market happened and we still have not recovered from our summer losses.
Our debt is $19 trillion and the Chinese have $28 trillion. You think Europe’s got problems right now, wait until millions of people in America and China go out of work.
It’s worse than that, however, as the collateral crunch starts. If you have a house it’ll be gone, unless you own it. And if you’re on a government pension that’s unfunded? Wow, you’re fucked.
The IMF is warning the Fed not to raise rates even 0.25%. The G20 countries simply are not sound enough financially to take that shock.
But considering their head is about to step down, well…derivatives lawyers – can’t trust ‘em.
While Christine Lagarde might be fine, it’s likely you won’t be.
The bad debts are unknown. The debt market is just a mess. We’ve got about a quintillion in debt around the world. Yeah, that’s $1,000,000,000,000,000,000 – 18 zeroes.
It’s all about controlling the crash. When is it easiest to control? Probably after the harvest comes in, perhaps after the busy holiday season. Some still remember 1907 and how agriculture is so tied up in these things.
God may not agree with that, however, and the earthquakes in Chile kinda point to that.
Something’s coming, folks, it’s coming.
Our economy is based on fraud. Money laundering for drugs, robo-signing for mortgages, accounting standards that have been thrown out the window.
We’re in a much worse situation than we were in 2008.
Just yesterdayDavid Cameron quietly paid a £1.7 billion payment that’s he’d previously said was ridiculous.
It’s for the privilege of being in the EU, an economic-political body that’s about to break up. Talk about pissing away money, huh?
In Iran the drumbeats to war still drone on. Isreal is a large part of this problem, as is America giving them the bomb.
The capital of Iceland yesterday began boycotting all Israeli goods, calling the Middle Eastern country a “volcano of hatred.”
In Iran children are taught to say “death to America” from a very early age. They usually say it in school three times a day on top of it.
Hey, sounds strange, but we had eye exercises for 10 minutes each afternoon when I was teaching in China.
It’s not the Iran deal, let’s stop calling it that now – it’s the Iran capitulation.
Iran has no intention of going through with anything after 10 years. We got nothing in this deal – not even our hostages back (which the media never talked about anyways).
Iran will go ahead and do what they want to do just as soon as they get that money back that they’re also begin promised. As if a nuke wasn’t enough.
Do you think that money’s going into the central banking system where it can be seized again? Ha!
Thankfully here in America we have the dog and pony show to distract us from things like this.
People love Trump, though it seemed a few of the other nincompoops stole some of his limelight last night.
Ben Carson wasn’t one – he kind of mumbled himself into donation decrease if you ask me.
The thing with Ben Carson is that the GOP likes him, sees value in him. He’ll be allowed to pick what state he wants for a Senate run and the Party will back him financially – yep, another one in the pocket.
Who’s pocket are we talking about?
Well, to understand that, I think we need to understand the mentality of the businessman that controls the discontent.
The newsroom scene from Network gets all the attention, but the real meat and potatoes happens in the boardroom.
Trump said it himself during the debate – CNN made a lot of advertising money last night. They bumped the debate from 2 to 3 hours to make even more.
It’s all money for the corporations. Don’t be surprised when you hear some stories (Syrian refugees) but not another (American hostages in Iran). And no one wants to talk about our homeless, especially the vets.
The media wants to keep their narrative going.
Right now it’s good to show refugees as this will drum up support that the US has to do something. If we do, that means we can go in and topple another dictator. Our military industrial complex loves that.
We certainly won’t talk about Iran hostages as we want to paint Iran as our friend right now.
The reason for this is so they’ll begin buying up arms from the nuclear arms dealers. Then they can have a war with Israel. Even more money!
Ha, what a joke!
Hillary is toast, as she’s got some serious espionage problems. Yep, that damn email server!
What’s so hard for Hillary is how much Obama hates her and how always sends Valerie Jarret out to do her in.
Gosh, General David Patreaus got taken down for having a few papers in his desk. He got a felony, a $100,000 fine and barely escaped jail.
Remember when we thought he could be president?
Hillary did far worse than that. Her computer files are on Google now.
What issues of national security did she violate? She’s in touch with the White House, the NSA, the CIA, the State Department, and countless embassies around the world not to mention Congress.
You’re telling me that emails are the only issue here?
We know her server was hacked. Why is this woman still on the campaign trail, still scheduled to debate?
Put the cuffs on her the next time she steps out in public, or better yet, do a raid and drag her from her home.
My God, folks, she’s violated countless laws!
I can only think that Obama is holding the Justice Department off so that she’ll stay in the race a bit longer, distracting things, keeping the fundraisers in Obama’s pocket.
It’s all about the money, and control. Obama does not want to lose his relevance after leaving Washington. Hawaii is a long way and several time zones away. If he can keep those fundraisers, he’s got leverage.
Well, things are pretty messy right now.
It all comes down to the Fed announcement at 2 PM (EDT) today. Yep, 2.5 hours from now.
Will today be the day it goes to hell? I hope not – I still have money in the bank and not enough cans of food built up.
Oh, that’s right…all I really need is my tinfoil hat.
You keep thinking that, you go right ahead and keep thinking that.