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Post by jarhead1976 on Aug 26, 2011 12:35:49 GMT -5
As close to the truth as it gets. By Mike Krieger I read a great article on a related topic recently. It was called “Central Planning and The Fall of the US Empire.” globalguerrillas.typepad.com/globalguerrillas/2011/07/journal-central-planning-and-the-fall-of-the-us-empire.html One of the most significant conclusions in my opinion was the following: The answer is that an extreme concentration of wealth at the center of our market economy has led to a form of central planning. The concentration of wealth is now in so few hands and is so extreme in degree, that the combined liquid financial power of all of those not in this small group is inconsequential to determining the direction of the economy. As a result, we now have the equivalent of centralized planning in global marketplaces. A few thousand extremely wealthy people making decisions on the allocation of our collective wealth. The result was inevitable: gross misallocation across all facets of the private economy. To see what this extreme wealth concentration looks like as a distribution, we don't have to look further than income distribution in the US (classic power law). The liquid wealth of those on the extreme left of the curve completely outweighs the 99.5% of the population to the right (the distribution is FAR more skewed than most people even imagine -- Republican or Democrat). This graph would also be a good way to demonstrate how decision making in a bureaucratic dictatorship in a country like the Soviet Union looked like before it collapsed. Once again this brings us back to good old Uncle Warren. Have you noticed that Obama can’t make a speech these days without saying “Warren Buffett say this…or Warren Buffett says that.” I mean give me a freaking break. It seems that Buffett has been named head of the U.S. economy and basically Obama just picks up the phone and whatever uncle Warren says goes, despite the fact that the guy has a huge stake in one thing and one thing only. Preserving the status quo and preserving his legacy. The Wolf Invests in Bank of America The interesting thing about today is that I had intended to write this piece on Warren Buffett all week. It was just really fortuitous timing that this Bank of America news came out today. Gosh where to start. First of all, this $5 billion preferred investment by Uncle Warren in preferred stock is extremely bearish for the market, the economy and the financial system. This is not an investment, it is political-economic strategy. It tell us so many things that we probably already suspected. It tells us that Bank of America did indeed need capital. Even worse they probably need so much that they went to Uncle Warren for five big ones so that people would just look the other way and gain “confidence.” This is how out to lunch these guys are. They don’t understand that the root of the lack of confidence is that the people see a country devolving into a Banana Republic led by greedy oligarchs and politicians stealing everything in sight as the ship sinks. So then they roll out the number one crony capitalist in America, tell us he is investing in Bank of America and expect that to lead to confidence!! What a bunch of maniacs run this nation. This is 1789 France folks as I have said many times before. Second, the fact that TPTB are resorting to Uncle Warren for everything now may mean the Fed is out of the game. No one has confidence in the Fed to come save the day so they need the next thing. That next thing is Uncle Warren. Unfortunately it’s not working and it is not going to work. You can see it in the market today. People are waking up. They are starting to see through the matrix. Buffett is a fraud and a shill. If you follow him it will be right over a cliff. The Baby Boomer generation is getting old and their ideas about how political systems and economies operate are getting even older. My generation is coming into its own and we will determine our own destinies. You can step aside gracefully or you can be pushed aside. Either way your days of running the lives of this planet are numbered. The Fourth Turning is here. |
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usaone
Senior Member
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Post by usaone on Aug 26, 2011 12:42:57 GMT -5
jarhead "I" respect your opinion...however human behavior trumps all generations...just say'n  I agree. We had a housing bubble. We need time to work through it. |
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Post by jarhead1976 on Aug 26, 2011 12:52:29 GMT -5
We too will be leaving this world Frank. Its a new day for forward thinking. I say out with the old and in with the new. Our economy is dead. we have been out sourced and sold out by the powers that be. We are being robbed by the very people we invest in that trust. I think the average person is wiser and more educated. The "conditioned reflex " is getting old. Respects jarhead1976
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Post by bumpybumpington on Aug 26, 2011 12:57:31 GMT -5
It is never a good time to act sheepishly.
The housing bubble was created by and popped by the actions of many, many sheep. The consequences are suffered by all.
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Post by jarhead1976 on Aug 26, 2011 13:18:34 GMT -5
Looking forward to any change you can bring about. It is insane to keep trying the same things over and over again and getting the same results . Being that the working class is paying for the unearned income of those that can afford that luxury. Not unlike yourself , I will never quit or back down for anyone. Respects
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Deleted
Joined: Nov 21, 2024 20:32:31 GMT -5
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Post by Deleted on Aug 26, 2011 13:27:08 GMT -5
As close to the truth as it gets. By Mike Krieger I read a great article on a related topic recently. It was called “Central Planning and The Fall of the US Empire.” globalguerrillas.typepad.com/globalguerrillas/2011/07/journal-central-planning-and-the-fall-of-the-us-empire.html One of the most significant conclusions in my opinion was the following: The answer is that an extreme concentration of wealth at the center of our market economy has led to a form of central planning. The concentration of wealth is now in so few hands and is so extreme in degree, that the combined liquid financial power of all of those not in this small group is inconsequential to determining the direction of the economy. As a result, we now have the equivalent of centralized planning in global marketplaces. A few thousand extremely wealthy people making decisions on the allocation of our collective wealth. The result was inevitable: gross misallocation across all facets of the private economy. To see what this extreme wealth concentration looks like as a distribution, we don't have to look further than income distribution in the US (classic power law). The liquid wealth of those on the extreme left of the curve completely outweighs the 99.5% of the population to the right (the distribution is FAR more skewed than most people even imagine -- Republican or Democrat). This graph would also be a good way to demonstrate how decision making in a bureaucratic dictatorship in a country like the Soviet Union looked like before it collapsed. Once again this brings us back to good old Uncle Warren. Have you noticed that Obama can’t make a speech these days without saying “Warren Buffett say this…or Warren Buffett says that.” I mean give me a freaking break. It seems that Buffett has been named head of the U.S. economy and basically Obama just picks up the phone and whatever uncle Warren says goes, despite the fact that the guy has a huge stake in one thing and one thing only. Preserving the status quo and preserving his legacy. The Wolf Invests in Bank of America The interesting thing about today is that I had intended to write this piece on Warren Buffett all week. It was just really fortuitous timing that this Bank of America news came out today. Gosh where to start. First of all, this $5 billion preferred investment by Uncle Warren in preferred stock is extremely bearish for the market, the economy and the financial system. This is not an investment, it is political-economic strategy. It tell us so many things that we probably already suspected. It tells us that Bank of America did indeed need capital. Even worse they probably need so much that they went to Uncle Warren for five big ones so that people would just look the other way and gain “confidence.” This is how out to lunch these guys are. They don’t understand that the root of the lack of confidence is that the people see a country devolving into a Banana Republic led by greedy oligarchs and politicians stealing everything in sight as the ship sinks. So then they roll out the number one crony capitalist in America, tell us he is investing in Bank of America and expect that to lead to confidence!! What a bunch of maniacs run this nation. This is 1789 France folks as I have said many times before. Second, the fact that TPTB are resorting to Uncle Warren for everything now may mean the Fed is out of the game. No one has confidence in the Fed to come save the day so they need the next thing. That next thing is Uncle Warren. Unfortunately it’s not working and it is not going to work. You can see it in the market today. People are waking up. They are starting to see through the matrix. Buffett is a fraud and a shill. If you follow him it will be right over a cliff. The Baby Boomer generation is getting old and their ideas about how political systems and economies operate are getting even older. My generation is coming into its own and we will determine our own destinies. You can step aside gracefully or you can be pushed aside. Either way your days of running the lives of this planet are numbered. The Fourth Turning is here. And the fifth turning? sixth? We all get a turn at being the new up and comer, and also the old know nothings! Do us proud! I'll be watching from the retirement home, pissing my adult diaper. |
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Post by jarhead1976 on Aug 26, 2011 14:32:41 GMT -5
Pissing yourself is expensive. LTC costs are already significant—and are rapidly increasing. The chart below shows how much an average stay at a nursing home could cost you.
A Look into Your Future jma
If you are: You may need at least this amount to cover the total cost of an average nursing home stay, beginning at age 80*:
30 $1,951,751
40 $1,198,206
50 $735,595
60 $451,591
65 $353,834
*This chart estimates the cost of an average nursing home stay of 2.3 years, at the national average annual rate of $74,000, compounded at 5% annually up to age 80, based on 2006 average length of stay.
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Post by lifewasgood on Aug 26, 2011 15:08:39 GMT -5
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Post by Deleted on Aug 26, 2011 15:14:51 GMT -5
Pissing yourself is expensive. LTC costs are already significant—and are rapidly increasing. The chart below shows how much an average stay at a nursing home could cost you. A Look into Your Future jma If you are: You may need at least this amount to cover the total cost of an average nursing home stay, beginning at age 80*: 30 $1,951,751 40 $1,198,206 50 $735,595 60 $451,591 65 $353,834 *This chart estimates the cost of an average nursing home stay of 2.3 years, at the national average annual rate of $74,000, compounded at 5% annually up to age 80, based on 2006 average length of stay. At the risk of sounding like an insufferable braggart (or bullshitter) My personal finances are healthy enough that the wife and I have no concern about healthcare, social security, medicare, etc. Liberals refer to us as the evil rich. So we're good. |
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Post by jarhead1976 on Aug 26, 2011 15:43:19 GMT -5
LOL Your not evil , I would call it blessed.
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Post by smackdown on Aug 26, 2011 17:02:04 GMT -5
The "housing bubble" caused this? How did America's housing bubble collapse Europe? Keep your eye on the prize Jar-Head. "Generations" may come and go but being pariah appears to be a genetic defect we see crop up time and again. America didn't give BANKS $700 Billion to bail themselves with, Hank Paulsen did. Hank, the former CEO of Goldman Sachs, Dartmouth alumni and setter-upper of hundreds of his GS BS soldiers in key roles within the US government and well-connected stooge for oodles of old wealth... created the motus operandi for wealth-mongering, propelled by little wealth that invested in all the undermining initiatives that drove us into the ditch. Like-- investing in Chinese manufacturing instead of grasping that closing shops down here curtails economic cash flow on Main Street.
"Sheep" are what you believe them to be. "Creeps" are pretty much self-explanatory. We cannot "wait" the generation out to correct this. You won't survive if you cannot realize that a cycle keeps moving and we are not.
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Post by jarhead1976 on Aug 27, 2011 9:03:11 GMT -5
I am with you V_L , the Government Sachs bunch has created one of the biggest hoarding of money ever seen. focus all that into @ 1000 people and they run the world. What I find funny is the bankers bought O'bumble then sold him down the river. Buffet to the rescue. What a deal he got. Ha! Saving America
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Post by lifewasgood on Aug 27, 2011 10:50:36 GMT -5
In the fall of 2008 I was having lunch with a banking VP of a regional bank where a couple of my companies had business with and he revealed to me that the bank had prepared and submitted a proposal to the Treasury and Banking committees on how to solve the credit crises. He went on to tell me that it involved using regional banks at a fraction of the cost of the banking bailouts to restructure loans and provide needed capital to small businesses, which watched their credit lines evaporate for no fault of there own. It was obviously not considered as Paulson and Company already knew what they wanted and they got it. In the meantime, small and medium size businesses failed because of no available credit to conduct business.
I was one of the lucky ones as I had enough personal wealth to keep the doors open, albeit I had to layoff several really great workers which I wish I had back. I still have not recovered the personal money it took to make it all work but sometimes it's not all about the money.
The painful part of the story is my Tax dollars being used, and the devaluation of the dollar ongoing to fund banks to provide capital and all they did was put in the vault and flipped us business owners the bird.
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Post by jarhead1976 on Sept 7, 2011 11:57:37 GMT -5
Bank of America hires Thomas Montag From Goldman Sachs and David Darnell. Throwing Sallie Krawcheck under the bus. Well this should benefit BofA and The Ogre of Omaha. Were not these the same guys involved in the naked short selling while at Goldman and Lehman Brothers. Getting bailouts and outrageous benefits while being responsible for the economic collapse of our banking system. We are so F*&ked. Honest people will never win.
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Post by jarhead1976 on Sept 7, 2011 12:21:41 GMT -5
Buffett knows O'bumble will bail him out if he gets in trouble He did it once before.
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Post by jarhead1976 on Sept 7, 2011 12:21:57 GMT -5
This message has been deleted. double post
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Post by jarhead1976 on Sept 8, 2011 8:39:37 GMT -5
BofA to close 600 Banks? Thats real job creation and Warren baby saving America once again.
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Post by frankq on Sept 8, 2011 8:44:31 GMT -5
"The Baby Boomer generation is getting old and their ideas about how political systems and economies operate are getting even older. My generation is coming into its own and we will determine our own destinies. You can step aside gracefully or you can be pushed aside. Either way your days of running the lives of this planet are numbered. The Fourth Turning is here."
I doubt that the Gen Xers could tear themselves away from their smart phones and ipods long enough to even know what's going on. We're stepping aside because if we don't, you guys will run into us as you're walking forward but looking down at your assortment of digital stimulation......
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usaone
Senior Member
Joined: Dec 21, 2010 9:10:23 GMT -5
Posts: 3,429
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Post by usaone on Sept 8, 2011 8:59:27 GMT -5
The most Central Planning we have ever had was the 1930's and FDR.
We are no where near that today.
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Post by jarhead1976 on Sept 8, 2011 9:03:24 GMT -5
LOL frankQ , they too will grow up and hopefully see the problems we have handed them. Question How do you feel about BofA's new appointment and the direction there heading in? Ill be the first to say Warren did very well in the Goldman sachs deal. This time will be different no bail out coming. respects sir.
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Post by lifewasgood on Sept 8, 2011 9:15:28 GMT -5
Baby Boomers are the last hope for a Constitutional Republic America. If we fail, well how fast can you say One World Government? The sissy generation of my children and grand children have become 100% sheep and will follow anyone and anything without question. If the Sissy's want to step up to the plate, first they will have to read and understand the constitution. Then get on there knees and ask GOD for forgiveness for their sins, fathers sins and grand fathers sins. Then pray for guidance on how to restore the promise.
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Post by jarhead1976 on Sept 8, 2011 9:21:25 GMT -5
Yes we are lifewasgood and we will soon be faced with hard choices. The more freedoms we lose the more blood shed. The Ideals we are expected to abide by are tossed aside by those we have entrusted with them.
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Post by frankq on Sept 8, 2011 11:28:48 GMT -5
Hey Jarhead,
I'm skeptical of BofA. They jumped on the Buffet deal pretty quick which really red flagged me. I think there's a little bit more to the story there that has yet to surface.
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Post by lifewasgood on Sept 8, 2011 18:13:52 GMT -5
Mega Bank Merger?
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Post by lifewasgood on Sept 11, 2011 23:00:57 GMT -5
Yes we are lifewasgood and we will soon be faced with hard choices. The more freedoms we lose the more blood shed. The Ideals we are expected to abide by are tossed aside by those we have entrusted with them.
The hard choices will have negative impacts on both our parents and children. Parents honestly believe they have absolute entitlement to a safe, happy, healthy retirement and our children honestly believe that they are entitled to a safe, happy, healthy life and neither have the ability to pay for it.
Without serious reforming of the monetary, financial, and Tax system, along with ending government spending programs not specifically granted in the constitution are ability to retain the republic is in real jeopardy. So far, I am not impressed with the current crop of presidential hopefuls, except Ron Paul, but he is past his time.
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Post by jarhead1976 on Sept 12, 2011 13:56:46 GMT -5
BofA laying off 30,000 over the next few years. Buffet to the rescue again. He is really saving America one job at a time.
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Post by smackdown on Sept 12, 2011 14:51:08 GMT -5
"The Dow slides as fears build that Greece will default. But technical buying limits the sell-off."
B of A laid those folks off TODAY. Same day Obama announces his Jobs Plan.
Want to bet the CEO at B of A gets a bonus for his cunning Cost-Cutting program?
Close the banks. Shut down Wall Street.
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Post by jarhead1976 on Sept 12, 2011 15:08:47 GMT -5
I agree V_L all you need to add in there is End the FEDERAL RESERVE. Lol Frank. you are right today. Thank you both for stopping by. Any thoughts on the BofA being the first to close its doors?
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Post by jarhead1976 on Sept 12, 2011 18:10:42 GMT -5
From wikileaks: Bank of America using Private Intel Firms to Attack Wikileaks
2011-02-02
In a document titled "The WikiLeaks Threat" three data intelligence companies, Plantir Technologies, HBGary Federal and Berico Technologies, outline a plan to attack Wikileaks. They are acting upon request from Hunton and Williams, a law firm working for Bank of America. The Department of Justice recommended the law firm to Bank of America according to an article in The Tech Herald. The prosed attacks on WikiLeaks according to the slides include these actions:
Feed the fuel between the feuding groups. Disinformation. Create messages around actions of sabotage or discredit the opposing organizations. Submit fake documents and then call out the error.
Create concern over the security of the infrastructure. Create exposure stories. If the process is believed not to be secure they are done.
Cyber attacks against the infrastructure to get data on document submitters. This would kill the project. Since the servers are now in Sweden and France putting a team together to get access is more straightforward.
Media campaign to push the radial and reckless nature of WikiLeaks activities. Sustain pressure. Does nothing for the fanatics, but creates concern and doubt among moderates.
Search for leaks. Use social media to profile and identify risky behavior of employees.
Original document converted to PDF
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Post by lifewasgood on Sept 12, 2011 20:36:48 GMT -5
I see a mega merger coming. In a one world government you only need one western bank.
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