DEBT WALL 2013: The Death of Socialism

[Aman A.K.A. Ahamburger]

Time to figure out something aside from the dole. 

North Carolina enacts law slashing jobless benefits
www.reuters.com/article/2013/02/19/us-usa-northcarolina-unemployment-idUSBRE91I17Z20130219

[Aman A.K.A. Ahamburger]

It is interesting to note that as these budget cuts are looming, the reality of the situation is that it's already happening; Austerity Kills Government Jobs as Cuts to Budgets Loom. The death of socialism is well underway. 

[bimetalaupt]

Feb 28, 2013 0:55:13 GMT -5 Aman A.K.A. Ahamburger said:

It is interesting to note that as these budget cuts are looming, the reality of the situation is that it's already happening; Austerity Kills Government Jobs as Cuts to Budgets Loom. The death of socialism is well underway. 

A+++,
 Funny thing about the election was the most dynamic statement made during the election that told "For Whom the Bells told" was about 47% of the population depend on the Government...The rest pay.. 53% has had it..

The exception is the Social Security system is self funded and the Government has borrowed from the Trust fund at below market rates for 78 years..They are dependent on the system to raise money...and always have been sense 1935!!!

BiMetalAuPt.....

[Aman A.K.A. Ahamburger]

BiMetalAuPt..... ,


  That's exactly it, that is why deficit financing is on the way out.  Keynesian economics has created an unsustainable way to build the future, however, on the bright side business is big enough now where they can pick up the slack.  Citi at 8.9% reserves on the way to 10% with the rest to follow and Ryan prepares to unveil balanced budget; the new gold standard is well on it's way to being established.



Have a Good one,


A+++  

[Aman A.K.A. Ahamburger]

Just a quick note on the Canadian housing market, Lost decade predicted for Canadian housing market (Home prices boom is now a bust; future increases will mirror rate of inflation.) 

[Aman A.K.A. Ahamburger]

As US politicians argue over what to do about the massive debt wall that they have run into this year, the reality is that "with the president’s new budget containing proposals to lower spending on Social Security and Medicare, Americans are about to discover the limits of their entitlement to government help."

 In Canada, the first National Socialist party in North America has  voted to take 'socialism' out of party constitution and to dial down socialism in their overall party platform.  This means that a political party that once sought only to fight against business is now embracing it as the best way to work towards a change.

Speaking of political parties that once fought against capitalism, Telesur news channel gives Cubans glimpse of world because Socialism is Dying in Cuba, But Not Because of the Embargo.....

First, socialism is dying. The pragmatic Cuban people that we spoke with including prominent health officials, university professors, and entrepreneurs all seem to have in common a notion that the current system isn’t working. On two separate occasions, speakers expressed skepticism that the system could continue to support free healthcare for all. Moreover, high taxes and a lack of financial institutions debilitate entrepreneurs from being able to keep up in the world market.

Second, the government knows socialism is dying. One Cuban economist we spoke with was explicit in his characterization of Cubans as pragmatic. They dealt with the revolution, they dealt with the Soviet collapse, and they can deal again. Recently, the government has allowed for the rise of private hotels, taxis and restaurants. It has plans to continue to reduce the scale of public employment, replacing lost jobs with those in the private sector. We must question how sincere the government’s efforts are, and how dynamic the regime is.

[dothedd]

www.usdebtclock.org/

[Aman A.K.A. Ahamburger]

Good things take time dot.  Just like good long term investing, the economy is all about the fundamentals.  When they are changing, there is always a change that follows.

Move over Mr. Mayor, cities are getting chief innovation officers
Time to abolish Senate in Canada has arrived
It’s time to kill the Canadian Senate if we can’t fix it, top Tory says
Saskatchewan premier restates call to abolish Senate <------ Make sure you note this guy (Tommy Douglas)

As mentioned throught this thread, and others; the strenght in the weakingess. 

Consumer Spending Helps U.S. Overcome Budget Cuts: Economy 
Strength in consumer spending and business investment is helping the U.S. economy overcome government cutbacks......
.........Government outlays, down for the 10th time in the past 11 quarters, fell more than previously estimated amid the winding down of military operations in Iraq and Afghanistan. Government spending will be limited by n planned federal cuts, or sequestration.

[dothedd]

US Treasury Missing $ Trillions

www.whereisthemoney.org/

Any thoughts about his Aham? 

  I think someone has been having a HECK-of-a PARTY!

GUESS IT'S TIME TO GO GET MY HAT AND JOIN ...


         (Been a while since I have had time to play!   

HI Moon ...  

I haven't had time to peruse the [how to] for the new board, but it appears to work OK the old way.

You'll have a GREAT WEEK-END.

b

[jarrett1]

very scary

[Aman A.K.A. Ahamburger]

Jun 14, 2013 13:07:51 GMT -5 dothedd said:

US Treasury Missing $ Trillions

www.whereisthemoney.org/

Any thoughts about his Aham? 

  I think someone has been having a HECK-of-a PARTY!

GUESS IT'S TIME TO GO GET MY HAT AND JOIN ...


         (Been a while since I have had time to play!   

HI Moon ...  

I haven't had time to peruse the [how to] for the new board, but it appears to work OK the old way.

You'll have a GREAT WEEK-END.

b

 Thanks Dot!  You aint so bad yourself..    Hope things went well at the doc the other day.

My first thought was wow, how kick ass is it that there are hackers out there diggin this up? The second was look at what the Socialists have been hiding...   

Just think how much more money there is going to be going towards the system..  If they want this all to go on, they are going to have to be WAYYY more accountable than they are right now..  HACK THE PLANET!!! HACK THE PLANET!!! 
 
I had a few different posts typed up about this since I read it, but for some reason they just didn't seem right.  Now I know why, there hasn't been a clearer symbol of the death of socialism until now.. Detroit.  50 years of trying to "stimulate" their way out of debt without focusing on any type of innovation as the auto industry declined, while looking to the goberment to solve the issues, has left them at the make or break point.  Their either start to build capital and operate with a balanced budget, or the city of Detroit could be the first American city in history to be turned back into farmland.  Heck, i'll bet there is a ton of natural resources under all that land.  Make no mistake about it Dot, from this point on, Detroit either becomes a model for other cities to follow as they rebuild into a symbol of free enterprise.  Or they become a warning for other cities. Either embrace free enterprise, or you too shall become farmland...

[Aman A.K.A. Ahamburger]

Oh one more thing Dot, even Muhammad was a merchant.. 

[jarrett1]

Detroit becomes an opportunity to start over with a clean slate.
The Goldman Sachs bond dealers lost another source of commissions

[Aman A.K.A. Ahamburger]

Exactly, on all accounts.  

 

A lesson indeed... 

Ontario, learn from detroit 

A bad recession is no time to impose budget austerity, you know. It's no time to cut good paying government jobs. After all, you can't "balance the books on the backs of working people."

No sir, the solution to difficult economic conditions is to keep hiring more government workers, borrow more, and tax the rich to pay for them: corporations and the people "at the top."

The City of Detroit lived for 40 years by the mantra quoted above and look where it got them this week - bankrupt, owing $20 billion they can't pay back because most of their best employers and citizens have fled.

[Aman A.K.A. Ahamburger]

Well it appears that the production of excess goods has all but finished communism off, not capitalism.

China Cuts Capacity in Some Industries to Reshape Economy
China starts 5-year ban on new gov't buildings

 This proves that, just as discussed all through the free enterprise thread, Karl Marx couldn't have been more wrong.. And here we are heading into yet another part of this debt wall that is 2013... Stay  .

Obama, Republicans gear up for bruising U.S. budget fight

[jarrett1]

oh yeah?...www.deepcapture.com

[Aman A.K.A. Ahamburger]

Yeah!  Bring on the FREE ENTERPRISE! 

Why Do One-Third of Israelis Want to Build a Temple in Place of Al-Aqsa Mosque Haram? 

We always have to bear in mind that Zionism is a secular movement.

Got to luv when there is a ray of truth in all of the propaganda... 

[Aman A.K.A. Ahamburger]

As mentioned before on this thread, as well as some others, time to strap on the boots. 

Dutch King: Say Goodbye to Welfare State

King Willem-Alexander delivered a message to the Dutch people from the government Tuesday in a nationally televised address: the welfare state of the 20th century is gone.

In its place a "participation society" is emerging, in which people must take responsibility for their own future and create their own social and financial safety nets, with less help from the national government.

Full circle on JC's plan for FREEDOM! Thank GOD!

[Aman A.K.A. Ahamburger]

Gotta luv this. Nothing more laissez faire than the economy moving along while the Federal Govt is shut down. I guess having the money supply independent from the govt,(aside from the billions of dollars in profit said money supply, supplies to the UST)ins't the end of the world after all. Could almost vote for the president of the FRB, transfer the current US debt to the FRB, run the Govt like a business(for profit), the military stays in the position they are in, and the states keep law in the states while co-operateing on interstate crimes.. No billions spent on massive Federal govt=billions for social security.

Analysis: Default or not, Asia a hostage to U.S. debt
DC's broke? Companies have money -- and lots of it
Stop being so stupid, voters tweet to Congress

[Aman A.K.A. Ahamburger]

How do you know something is basically obsolete?  When you remove it and nothing happens.. 

No signs of shutdown in ISM, auto sales reports
US budget deficit down to $680B, lowest in 5 years
Made in America: Now a bargain for Nissan

[Aman A.K.A. Ahamburger]

More on the slow and steady death of socialism as capitalistic......

Young Bankers Seek ‘Good Yield’ With Their Own Nonprofits

Without deserting careers, a new wave of young bankers is starting nonprofits to help orphans, immigrants, veterans and students. They say they’re moved to mend the world using capitalism’s wisdom, not because of its shortcomings, preaching the power of dividends, due diligence, leverage and efficient allocation of resources. Some see themselves setting a new mold for post-crisis Wall Street philanthropy by not waiting to give away their money or leaving for full-time charity work.

“Among this generation -- our generation -- is a deep passion and interest in learning, earning and returning simultaneously,” said Andrew Klaber, 32, an analyst at hedge fund Paulson & Co. whose nonprofit Even Ground provides education and care to African children affected by AIDS. “You just see an unmet need in your research, and research is what we do on Wall Street.”

As always, more later.

[Aman A.K.A. Ahamburger]

I came across an interesting article a little while back that I will post below. I like it because it's coming from the point of view of a historian, and it's a great lead into some stories I have been wanting to post. Got to love the new private economy that is emerging from the ashes of socialism.

Tony Benn, Bob Crow and the sad death of British socialism

Socialism died this week, not once but twice. First with the passing of Bob Crow, the working-class union man. Second, with the passing of Tony Benn, the aristocratic firebrand. And how beautiful their dreams were. That the economy should be run on the basis of need, not profit; that power should be in the hands of the many, not the few; that privilege should whither and equality thrive; that men should live in peace with each other. Sadly, it was only a dream – and the lives of these two dreamers explains why it came to an end.

There was a basic contradiction in the postwar British Left between the desire to construct socialism and the desire to improve the material wealth of the workers. Benn represented the ideologues in government, the Sixties generation who though that paradise could be built from Whitehall. Oh, it was going to be so easy. Nationalise the top companies, tax the rich, allocate resources and plan, plan, plan. Everything was to be planned, from house production to the dinner ladies' weekly pay. It was mathematical, precise. Problem was that it didn't work. The state didn't prove to be a competent manager of things produced far cheaper and to a far higher quality in the free market. The one thing the government did create effectively was inflation, so much inflation that it gobbled up profits and – to the surprise of the socialist mangers – actually increased unemployment. By the late 1970s, they called it stagflation.

-Tribes Hope to Open a Water Bottling Plant in Maine
-Urban schools improving faster than rest of US
-First Nations leaders push for long-term LNG jobs
-Gap to Raise Minimum Hourly Pay
-Entrepreneur: Boost Calif. wages to $12-an-hour
-Facebook forms small businesses council
-Google Capital comes out of Stealth with third investment
-Trust the private sector, not Washington, to get job training right
-Cuba approves law aimed at attracting foreign investment

[dothedd]

Great suggestion ...  Aham; definitely puts it into an updated perspective.


DEBT WALL 2013: The Death of Socialism

US Debt Clock: www.usdebtclock.org/


HERE IS AN INTERESTING LINK WITH A SIGNLE DEBT CLOCK and an interesting take on 2010.

www.babylontoday.com/national_debt_clock.htm

An interesting addition on the above since the thread was originally posted: 

Please visit the ObamaCare page at this link to explore the latest debt generating monster, destined to wind up the way Hillary Clinton's 1993 plan was conceived, with: "maximum fines: $5,000 for refusing to join the government mandated health plan; $5,000 for failing to pay premiums on time; 15 years in prison for doctors who received ‘anything of value’ in exchange for helping patients short circuit bureaucracy; $10,000 a day for faulty physician paperwork; and $50,000 for unauthorized patient treatment. When told the plan could bankrupt small businesses, Mrs. Clinton said, 'I can’t be responsible for every under-capitalized small business in America'! - Tony Snow reporting on Hillary's health care plan"

[Aman A.K.A. Ahamburger]

Thanks for the kind words DTDD!

Finally had a chance to get through the article you posted. It's pretty scathing of the boomer generation, but at the same time there are some good points. One of which I have made time and again and that is because of the sheer amount of debt that has been added since the 80's it's going to be a long, slow recovery.

I think there are more boomers that recognize how serious the debt burden is than the author is giving credit. There are quite a few that are trying to reign in the deficit, they are outnumbered currently by the "me" first crowd without a doubt, but the reality of the situation will be faced by the echo boomer generation. Just like our Grandparents, we were raised by a generation that was responsible for skyrocketing debt, a huge bust, and a serious global conflict.

The author is also misrepresentin the tipping point. If the USA hadn't been in this kind of debt to GDP ratio before then he would be right. At the same time the debt to GDP ratio won't go down like it did in the 1950's because of the fact the USA is far more developed than it was back then. Personally I see this as a good thing because my kids will still be learning the lessons of their grandparents mistakes, which is what the boomer generation was missing.

In other words, a lesson in humility is going to be the best thing for North America right now because the next greatest generation is being built.

[Aman A.K.A. Ahamburger]

May 15, 2014 11:02:50 GMT -5 Aman A.K.A. Ahamburger said:

In other words, a lesson in humility is going to be the best thing for North America right now because the next greatest generation is being built.

As I've mentioned all through this tread, the USA is in the same position now as Canada was during the 90's. It's a generational thing - as in the younger generation gets it.

Canada Records C$379 Million Budget Surplus in September

Millennials: Does a Generation Burdened by Debt Care About Government Spending?

A Washington-based nonprofit known as The Can Kicks Back set out to answer that question by testing an interactive, online ad campaign in two U.S. House races this year. That data, provided to Bloomberg Politics, show younger voters may indeed be willing to engage on federal spending.

"Growing up in the recession has had a real effect on how they view this stuff," said Ryan Schoenike, executive director of the group.

“We have to be fiscally conservative with our own finances, so we expect that from our government, too.”.....

.......So what does get people's attention? Generation Opportunity, which has been around since June 2011 and gets funding from the billionaire Koch brothers' network of conservative donors, thinks it has found something. "The idea of generational theft, that we're being taken advantage of, that really wakes people up," Whalen Stephens said. Since March, it has been promoting a "petition to end the war on youth."

By signing up, "you are declaring that politicians must STOP STEALING money from young Americans," it says in part.

Generation Opportunity has proved it can do buzzy. Its series of "Creepy Uncle Sam" videos disparaging Obamacare have been viewed about 10 million times.

[Aman A.K.A. Ahamburger]

Jeb Bush’s Welfare Policy Ends Food Stamps, Housing Aid Programs

Bush, if elected, would end Supplemental Nutritional Assistance Program (SNAP program); Temporary Assistance for Needy Families (TANF)

Policy would give money to states in form of “Right to Rise Grants” in place of programs; grants would incl. work requirements and time limits for able-bodied adults

Bush to speak at policy forum in S.C. on Saturday where he’s expected to discuss welfare reform

Bush says as president he will “promote marriage as the most reliable route to family stability and resources”

“States will be encouraged to find ways to promote parenthood and successful marriages": statement

Bush says he’ll focus child support enforcement system on collecting payments

[Aman A.K.A. Ahamburger]

Jeb might not be the next US President, however, the Baby Boomer Bubble A.K.A, The welfare state's writing is on the wall... Stay

If recession strikes When the BIG War Breaks Out, central banks might be ARE out of ammo

If the global economy spins off its axis and is gasping for its last breath, don’t count on the Federal Reserve, the European Central Bank, and the Bank of Japan to step in with first aid.....

......The ECB was the first major central bank to push rates into negative territory in June 2014 and the Bank of Japan followed suit in late January as part of its effort to rejuvenate economic growth. The ECB in December also extended its quantitative easing program through at least March 2017.

“In Europe and Japan, elevated government debt continues to constrain fiscal policy while the efficiency of multiple rounds of quantitative easing is already being tested,” Marie Diron, senior vice president at Moody’s Investors Service, said in her global economic outlook on Thursday.....

......the Fed only had to ease interest rates by 80 basis points in the aftermath of the 1987 stock market crash while in the last three recessions, the Fed fund rate spread between the peak and the trough was as much as 675 basis points.

[Aman A.K.A. Ahamburger]

As I mentioned in the Asian Crisis thread a little while back, we have come full circle on the debt wall discussion. This whole thread has good information, but the previous post is the most important. The reason being; I have outlined over the past year or so that negative interest rates are in fact fraud and now, German ministry advisers see risks in ECB's zero-interest policy. Asian crisis, war, baby boomer bubble; venn diagram for 2018-2025.

God bless.

[Aman A.K.A. Ahamburger]

Apr 5, 2017 10:58:08 GMT -5 Aman A.K.A. Ahamburger said:

As I mentioned in the Asian Crisis thread a little while back, we have come full circle on the debt wall discussion. This whole thread has good information, but the previous post is the most important. The reason being; I have outlined over the past year or so that negative interest rates are in fact fraud and now, German ministry advisers see risks in ECB's zero-interest policy. Asian crisis, war, baby boomer bubble; venn diagram for 2018-2025.

God bless.

Watching the subsides run out and the chickens come home to roost will be a tale for the ages.

Denmark Is Killing Tesla (and Other Electric Cars)

The electric car has dropped out of favor in the country that pioneered renewable energy.

Sales in Denmark of Electrically Chargeable Vehicles (ECV), which include plug-in hybrids, plunged 60.5 percent in the first quarter of the year, compared with the first three months of 2016, according to latest data from the European Automobile Manufacturers Association (ACEA). That contrasts with an increase of nearly 80 percent in neighboring Sweden and an average rise of 30 percent in the European Union.

The figures suggest clean-energy vehicles still aren’t attractive enough to compete without some form of subsidy.

Denmark, a global leader in wind power whose own attempt at an electric car in the early 1980s famously flopped, used to be enthralled with them. Its bicycle-loving people bought 5,298 of them in 2015, more than double the amount sold that year in Italy, which has a population more than 10 times the size of Denmark's.

However, it turns out that those phenomenal sales figures had as much to do with convenience as with environmental concerns:

[Aman A.K.A. Ahamburger]

Facing budget and pension shortfalls.... Cash-strapped Houston sells off $2M worth of city streets. Since budget and pension shortfalls are by no means limited to Houston... Stay