Today, we get to visit the Steins family in Purchase, NY. They are poor little rich gnomes who can’t survive on a mere $300,000 a year. Boo-effing-hoo. Breaks my heart. And the matriarch of this bedeviled household works for Mastercard, one of the more insidious usury operations on this entire planet.
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Squeaking by on $300,000 – washingtonpost.com
Laura Steins doesn’t mind saying that she is barely squeaking by on $300,000 a year…..But she’s months overdue for a visit to her colorist, a telltale sign of economic distress for a woman such as Steins. The smell in the basement could mean a crack in the septic line; unlike a $200 hair appointment, a plumber will be in the thousands. And from the breakfast table comes one more urgent need from a 10-year-old.
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I am rather bemused by all the pitiful stories the media tells us. I know from personal experience, how terrible this depression has hammered many honest, good people. With this army of dispossessed and hard hit people to interview, we get all sorts of goofy stories like this one, instead.
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Ms. Steins is no ordinary woman. She probably began life as a blonde ‘goddess’ who married a guy with money. She then set off, to make more money, too. And in classic goddess/gnome dynamics, got divorced and gets oodles of loot each year from her former pet gnome. But life is hard! She has to make do with only, get this, nearly 10 times the income of the average American family! So let’s go look at how this unfortunate, spoiled goddess makes do:
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“At my birthday party, every single girl had a phone,” says Katie Steins, making the case that an enV2 phone with matching cover is just standard in her crowd…
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I find the cute little name is all about ENVY. $180 toy for every 10 year old girl. I remember when I was 10 years old. Already, I did chores for people so I could get a few quarters of spending money. My parents gave me absolutely no ‘allowance’ at all. They figured, I should learn how to earn money and thus, treat the act of buying stuff more seriously since I would have a dim idea, how much labor preceded the purchase.
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I envied my fellow playmates. They also had reasonably well-to-do parents such as the girls next door (kind of far off, we all lived on fair sized estates) whose father was Joe Bonanno, the notorious Mafia boss, or surgeons and department heads at the University of Arizona or Senators like Mo Udall, etc. Most of the kids had these allowances. But they were missing out of life’s important lessons.
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Actually, I worked for their parents and got to learn a great deal about how humans operate inside the confines of their homes. Especially ruling elites. Ms. Stein in this story is not a ruling elite. She is a cog in the MACHINE run for and by the ruling elites, as we shall see later.
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The main point here is, her little spoiled brat has no idea what anything on earth costs. She only has LUSTS and DESIRES and expects these to be fulfilled or else. The fancy phone above is not an appropriate toy for little girls learning how to be delightfully vicious with others who have slightly less than they. If a child like this brat had to have a phone, it should be very simple with only a short list of numbers that can be called, such as the police, grandmom, mom and dad and the school. Just for example.
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The phone in this story is an adult phone and has all sorts of applications that a child should not have because it leads to being distracted and addictions to various electronic time-wasting systems. You can just hear this darling brat boast, ‘Oh, look at that poor little girl over there, she as a stupid phone with only her parents and the school on automatic dial! HAHAHA. Look at the neat video game I just downloaded! HAHAHA. Oh, let’s use it to make a video making fun of that poor, stupid girl with the crummy phone. We can post it on You Tube with funny comments!’
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Yes, the little dears can torment each other across the entire planet. Some girls of 11 years recently made the news because they made a You Tube video showing various ways they could murder another girl who didn’t belong to a clique. Gah.
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Winter is just 5 months away. This darling child should watch out. The punishment for enV2 phone users might be to freeze to death.
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By local standards, Steins occupies the lower rung of affluence — the rung where every dollar now matters….As a vice president at MasterCard’s corporate office in Purchase, N.Y., she earns a base pay of $150,000 plus a bonus. This year she’ll take home 10 percent less because of a smaller bonus. She receives $75,000 a year in child support from her ex-husband. She figures she will pull an additional $50,000 from a personal investment account to “pick up the slack.”
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OK: my husband is disabled. I cannot work except to do stuff at home like this blog. So I have no effective income anymore. His workman’s comp puts us in the sub-$30,000 a year income level. This witch earns MORE THAN TEN TIMES what I have to try to live on. I wish I had $75,000 in child support during the decade I raised my son while living in a tent! Forget, living in a fancy mansion in a fancy neighborhood with a fancy telephone for a fancy brat! My son, at one point, when we were living on just $500 a month, couldn’t buy cheap shoes!
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We got our clothing from the town dump! We cleaned out barns so he could have spending money! We hunted for food. Life was very hard and my son grew up to be a splendid person! And can live on almost nothing if things go wrong, of course. He grew up knowing the meaning of true, honest to god, poverty. Living on just $6,000 a year, chopping firewood, hauling water in buckets and other joys of life, is real suffering. Not, being unable to see a colorist every month so the fake blonde tresses don’t look so fake!
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Now, onto the other ugly part of Ms. Steins: she is a vampire. She makes her immense oodles of loot by looting others! She is a USURY agent who wants everyone else to go deep into debt so they overrun their credit and have to pay high interest rates. And then, due to the high rates, they can never pay off these usurious debts and if they fail to pay the interest each month, they are hit with FEES. The word ‘fee’ is medieval and is all about FEUDALISM.
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The people she lures into debt become her serfs. She is a female gnome, eating her heart out, wanting more and more money. She can’t have enough. She could live somewhere cheaper like a TENT like I did but she wants to live in a mansion. Here is Mastercard in today’s news:
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- MasterCard Profit Exceeds Estimates on Higher Fees (Update5) – Bloomberg.com
MasterCard Inc., the world’s second- biggest payment-card network, posted profit that beat analysts’ estimates as the company raised fees, slashed expenses and processed more transactions.
Second-quarter net income was $349 million, or $2.67 a share, compared with a loss of $747 million, or $5.70, a year earlier, the Purchase, New York-based company said today in a statement. Excluding legal costs last year, total profit climbed 26 percent….The added fees and a 36 percent decline in marketing costs helped generate profit that beat the $2.42-a-share consensus of analysts surveyed by Bloomberg…..Visa and MasterCard aren’t affected directly by credit-card defaults because they process transactions without taking on the risk associated with making loans.
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That’s right! They don’t hold any of these loans! They sell them to schmucks! They take on NO RISKS. But reap great rewards! So they can live in palaces while whining about having not enough money because they need at least a million a year just to survive, the poor little jerks.
. The nanny and property taxes take $75,000 right off the top, but Steins considers both non-negotiable facts of her life and not discretionary. When she bought out her husband’s share of the house after their 2006 divorce, she assumed the costs of keeping it afloat — $8,000 to $10,000 a month. There’s a pool man, a gardener and someone to plow the snow from the quarter-mile-long driveway..
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Her poor gnome ex is paying for the ‘nanny’ and the taxes. These happen to equal his payments to this broad. I have always had to pay my own way in life and never collected a penny in child support, etc. I just move on with life and take whatever is served and then keep on doing what I need to do. If she thinks she is suffering, with this immense sum of money supporting her ‘lifestyle’, I would like to drop her in Afghanistan to see what reality really is.
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..Birch Hill actually has two ladies of the house, but they exist at polar ends of the local economy. The road that led Kathy Shellogg to a spare bedroom on the second floor of Steins’s home began almost two decades ago under eerily similar economic conditions.
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Ms Steins doesn’t have a ‘nanny’. A nanny takes care of children under the age of 6 years. What this Mastercard gnome has is a WIFE. Yes, a lady who does exactly everything a ‘wife’ does. Not a nanny. Look at how this woman is exploited:
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“I hit my recession 15 years ago in the Catskills,” the 55-year-old nanny says one morning after everyone is gone. Shellogg is tan and blond, though in a different way than Laura Steins, and her words tumble out with a loose honesty. Plugging a leak under the sink, she stands up and gestures toward the pipe and says, “I fix things, too. Being as how once I had a house.”…
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Obviously, this is not a woman hired to watch children. She was hired to run the entire estate minus cleaning the pool and shoveling the quarter mile driveway in winter. She also has to do the laundry, clean the house, cook all the meals and I suppose, listen to her ‘husband’ bitch at night about how bad things are.
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…The forces have worked on Shellogg — she has dropped several sizes since her arrival. She drinks pulverized vegetable juices and works out regularly at the YMCA in Rye, compliments of a Steins family membership. While she has privileges at the Y and receives three weeks of paid vacation, she has no medical insurance, so she takes her nagging toothache to the student dental clinic at New York University, where the flat rate for a molar extraction is $80…
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When she got married, Ms. Steins didn’t have no insurance. We are in the middle of this immense insurance debate! And this poor wife of Ms. Stein is exhibit A in the healthcare debate. Of course, people with houses, money and healthcare insurance are screaming at Congress to NOT give Ms. Stein’s wife any insurance. They don’t care if this poor woman dies.
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….One night, Steins eats quickly so she can sew a badge on her son’s Cub Scout uniform for his meeting that night. Getting a whiff, she rears back. “God, this shirt stinks.”
. “Tell me about it!” Shellogg says from the other end of the table.
. Steins bites her tongue. She wishes the shirt had been washed.
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Exactly like a gnome husband. First off, I used to run a cub scout pac, once upon a time. And the boys were taught to sew on their own patches. I also made them do all sorts of things that were interesting. For example, they could also learn how to wash clothes. I made oodles of money, washing people’s clothes for them, when I was the same exact age.
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You can bet, Ms. Steins ‘bit her tongue’ with her fangs because a reporter was there. If the reporter wasn’t there, the ‘wife’ would have gotten quite a tongue lashing.
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Why the New American Real Estate Dream Is Renting – WSJ.com
Until the early 20th century, holding a mortgage came with a stigma. You were a debtor, and chronic indebtedness was a problem to be avoided like too much drinking or gambling. The four words “keep out of debt” or “pay as you go” appeared in countless advice books. As the YMCA told its young charges, “If you can’t pay, don’t buy. Go without. Keep on going without.” Because of that, many middle-class Americans—even those with a taste for single-family houses—rented. Home Sweet Home didn’t lose its sweetness because someone else held the title.
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This ‘debt is bad’ didn’t end in the Great Depression. The gist of this story is, before 1931, people stayed out of debt. This is STUPID. How dare they even suggest this? People did go merrily into debt playing real estate, for example: the Florida bubble was infamous! Farmers went deep into debt because they sold a lot of food the Europe, ravaged by WWI. And finally, everyone and their brother went deep into debt to play the stock market. This is why there was a bubble and then a crash: EZ credit.
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In any case, mortgages were hard to come by. Lenders typically required 50% or more of the purchase price as a down payment. Interest rates were high and terms were short, usually just three to five years. In 1920, John Taylor Boyd Jr., an expert on real-estate finance, lamented that “increasing numbers of our people are finding home ownership too burdensome to attempt.” As a result, there were two kinds of homeowners in the United States: working-class folks who built their own houses because they couldn’t afford mortgages and the wealthy, who usually paid for their places outright. Even many of the richest rented—because they had better places to invest than in the volatile housing market.
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Like during the present bubble, incomes fell for two decades before a major credit collapse. This was why home ownership fell, relative to the population (which was growing very fast). Generally speaking, people saved rather than taking on mortgages because they had to save for retirement. There was NO SOCIAL SECURITY. This ws what really made it possible to get a home loan. That is, one could anticipate being supported in old age so a 30 year mortgage was no longer scary.
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The Depression turned everything on its head. Between 1928, the last year of the boom, and 1933, new housing starts fell by 95%. Half of all mortgages were in default. To shore up the market, Herbert Hoover signed the Federal Home Loan Bank Act in 1932, laying the groundwork for massive federal intervention in the housing market. In 1933, as one of the signature programs of his first 100 days, Frankin Roosevelt created the Home Owners’ Loan Corporation to provide low interest loans to help out foreclosed home owners. In 1934, F.D.R. created the Federal Housing Administration, which set standards for home construction, instituted 25- and 30-year mortgages, and cut interest rates. And in 1938, his administration created the Federal National Mortgage Association (Fannie Mae) which created the secondary market in mortgages. In 1944, the federal government extended generous mortgage assistance to returning veterans, most of whom could not have otherwise afforded a house. Together, these innovations had epochal consequences.
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The US government has been the #1 lending agent in the US. Now, it is 100% the ONLY lender in the US. All the banks are fakes. They are all kept afloat directly from the government which capitalizes them and protects them from default, so long as they are very big and very powerful and very politically connected. The US government has allowed usury to flourish. The US government lends to Mastercard at nearly 0% while Mastercard collects 9-33% interest and fees on this money they borrow from the Federal Reserve.
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Our government has driven not only the populace but itself very deep in to debt and runs all systems deep in the red. Trade, finances, banking: all are NEGATIVE. In the extreme! And this is killing our nation’s future prospects. And here we have, a bunch of spoiled brats who can’t live off of $300,000 a year, whining about how poor they are?
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They should be taxed a lot harder. Or they can support protectionism which means, we collect fees off of imports which would lead to higher prices but a SOLVENT GOVERNMENT! And lord knows, we can’t run in the red forever! The Chinese warned us about this only they want free trade to continue. See how easy this is? It isn’t easy at all. We trapped ourselves on a classic horns of dilemma. And can’t call for help on our enV2 phones made in China.
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74 Comments
August 17, 2009 at 4:57 am
LOL… the dillema of the government running everything is head line news… everyone scolds the shadow but ignores incarnate parasitic temptation
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the government runs everything on blown out budgets and its getting difficult to near impossible to ‘trickle down’ anymore deficit spending
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people are already chasing dollars, but few realize that 50% fluctuations could be the new norm as volatility and debt destruction reclasses assets via bubble mania… hell the next bubble could be anything from china to bank stocks to health care to dividend shares to gold…. the government can ignore whatever it ‘wishes’
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the books are cooked
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http://www.youtube.com/watch?v=vOO5ofUk4xI&NR=1
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we are all speculators now
August 17, 2009 at 5:10 am
The United States made clear its concern over any prospective role for Dostum, a controversial figure associated in the past with factional infighting and accused by human rights groups of abuses.
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Afghanistan has been brewing for 200 years… this is the most powerful nation in the world ever facing a intractable fear mongering pervasive MODERN ideology… this conflict has the power to set in place a shift of power by reducing US strategy and security into little more than collaborative alliances… our vision could get hammed in this thing as we learn to excuse our own criminals and enemys, to lean harder on our walking cane of a society of entitlement
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beauty is only skin deep… its what we mean when we set forth a policy of tangibles and intangibles that represents us as who we are
August 17, 2009 at 11:44 am
How hard do you think the PPT will pump the DJIA after the Hang Seng dumped -5% yesterday so the NYC mistresses and ex’s can be paid off?
http://www.google.com/finance?q=INDEXHANGSENG:.HSI
August 17, 2009 at 12:49 pm
Generally speaking, during depressions, volatility in stocks are exaggerated. That is, they shoot up and fall down a lot more. This is due to there being fewer, not greater numbers of participants in trading. And the number of companies one can invest in are fewer.
A characteristic of a true bull market is small, incremental rises with very small falls, going up a little bit at a time, day after day.
Where there is too much cheap credit such as the Japanese carry trade, seeking an outlet where it can grow faster than the ZIRP level rates of borrowing, then we get speculation that creates a false sense of growth.
Much of the Chinese stock market growth, I suspect, was savings, not borrowing. So its growth was more real than the US stocks which were fueled by mostly borrowed funds from Asia.
The dynamics of ZIRP lending fueling wild speculative surges has not disappeared. IT IS MUCH WORSE waiting in the wings. We will probably see speculative surges in commodities again. Right now, the surge is in sugar.
Due to weather conditions, rice is also probably going to surge this winter.
August 17, 2009 at 1:02 pm
I remember one time a member of the NYSE; a Mr. Gershowitz was complaining to me how he “can’t possibly live on $40,000 per month”. This was back in 1996!!! The Wall St. “club” gets rich while every Mom and Pop in America goes deeper into debt to maintain their standard of living. Wall St. is a giant thief. Stealing constantly from America and the world. It has to be stopped.
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ELAINE: You are correct, Ralph. I remember when the spread was much smaller, too. But then, you could buy a very beautiful mansion in a good school district for under $150,000. Seriously. Absolutely everything was much cheaper in 1980. In 1980, the dollar had lost its value against itself by about 60% compared to 1913. Today, it is worth about 3 pennies compared to 1913. Or less, actually. This rapid inflation in less than 30 years (90% of the inflation was from 1978-2008) has just astonished me all to hell.
I still remember paying only 8 cents for a can of Cambell’s soup, for example.
August 17, 2009 at 1:05 pm
Uh, on the Chinese savings idea…
I would recommend checking the charts, graphs and data and you will see on Nov 2008 Hang Seng at 10,000 and then $586 billion chinese stimulus package announced on Nov 12, 2008, and a steady march up to 20,000.
Fake. Just like the fake hegelian dialectic of communism vs fascism that crushed europe into a synthetic paradise of socialism.
I posit that the speculation is the ruling elite showing off their technological trading algorithms as they slosh their drug money all over the planet with their fancy computers and networks guarded by the best military peasant tax payers can buy.
http://www.economist.com/world/asia/displayStory.cfm?story_id=12585407&source=features_box2
““Over the past two months, the global financial crisis has been intensifying daily,” the State Council said in a statement. “In expanding investment, we must be fast and heavy-handed.” News of the stimulus package has been welcomed by global investors. Asian and European stockmarkets rose on Monday, with American markets also climbing. China’s decisive move is likely to please foreign governments which are now grappling with the global downturn. It comes a few days before the Chinese president is scheduled to attend a global economic summit in Washington, DC, and a day after Hu Jintao had spoken by phone to the American president-elect, Barack Obama, about the global economic crisis and other issues.”
without prejudice. all rights reserved.
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ELAINE: You are correct. The Chinese government pumped credit into markets. But unlike the US, China is a SOVEREIGN WEALTH country. The US is the world’s biggest beggars for loans. A very, very significant difference. One we will very much regret in the future.
August 17, 2009 at 1:42 pm
As annoying as this woman is (I know many like her, except they don’t work…they’re stay home moms). This woman’s income comes from wages..not investments, not inheritance. This is not the same as the elite that are PROFITING from this economic downturn.
She is moaning and groaning and NO ONE sympathizes with this pampered woman who pretends to be Mrs. Blankfein. The Blankfein-like women of the world are largely shielded from view and that is the heart of the problem. Yes, I know Page six did something on Blankfein, but could you imagine the anger (rightly placed) at the Blankfein-like women if the NYT did a piece on their spending habits and lifestyle == that will never, ever, ever suffer a setback no matter how bad things get.
People when it comes to outrage re lifestyles — aim higher.
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ELAINE: I was prepared to feel sorry for her until I read about how she treated her ‘wife’. THIS PISSED ME OFF. She whines about how poor little $75,000 a year recipient of a husband’s divorce payments can’t live on a rich fortune. She could, if she was smart, move next door to me in Berlin, NY. Send her brats to my son’s school where they would learn all sorts of life skills, rubbing shoulders with very poor kids who are not thugs. Just, poor.
And she could live like a queen here on just her husband’s divorce money! She would probably be one of the richest people in town! But no, she has to make lots of loot, living next to Manhattan and having a poor lady who is honest and good, raise her children and this lady can’t even get health insurance, much less, child support, divorce money, etc. She gets ZERO. Nada, zilch. I know these sorts of rich ladies. They want you to raise their kids and then kick you to the curb.
August 17, 2009 at 2:36 pm
Jesus Christ Elaine, next you’ll start ranting about how you walked in the snow 5 miles to school without shoes as a child. Comparing your childhood to the current generation is apples to oranges. My parents were born in the era of NO television, washing machines, dryers, gaslamps, women didn’t have the right to vote, indoor plumbing and phones were a LUXURY and outhouses the norm, cars were built for the rich, etc….
And if you think about it, the real story was NOT this woman’s preferential existence, it was that the Washington Post profiled HER as the spoiled FEMALE rather than the true story; MEN who created the Credit Ponzi Scheme and destruction of our economy and financial equilibrium. The overcompensated CEO’s lifestyle for the destruction of american jobs, where’s that story in the in the Washington Post? Instead let’s get america on the bandwagon and blame the “foolish” woman. It’s all her fault and her spoiled daughter’s.
Foreign Policy Magazine has a good article; The Death of Macho
Manly men have been running the world forever. But the Great Recession is changing all that, and it will alter the course of history…More than 80 percent of job losses in the United States since November have fallen on men, according to the U.S. Bureau of Labor Statistics….Of course, macho is a state of mind, not just a question of employment status. And as men get hit harder in the he-cession, they’re even less well-equipped to deal with the profound and long-term psychic costs of job loss. According to the American Journal of Public Health, “the financial strain of unemployment” has significantly more consequences on the mental health of men than on that of women. In other words, be prepared for a lot of unhappy guys out there—with all the negative consequences that implies……
August 17, 2009 at 3:15 pm
5 miles
uphill
coming and going
in icy water
and we made do with
hand me down feet.
I believe someone linked to the Python sketch that does this so much better, a few posting ago.
August 17, 2009 at 3:17 pm
Is there anyone who is an expert in probability and statistics who can calculate the probability that a random world (not controlled by a criminal financial elite) will create an exact duplicate playbook every 80 years?
Huge increase in fractional reserve lending.
Huge crash in stock market.
Huge 50% rebound.
Yawn, these folks are so boring.
http://pragcap.com/wp-content/uploads/2009/07/09vs29.png
without prejudice. all rights reserved.
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ELAINE: Humans seldom learn from previous mistakes. Everyone thinks they are very, very clever. The history of bubbles/collapses is long and very detailed. Nothing new here in this collapse at all. Nope….what happens is, hope springs ever eternal and no one wants to pay the piper and everyone wants to eat cakes and have them too, etc. All the ancient stories about being too greedy are always ignored, of course.
August 17, 2009 at 3:26 pm
If it’s an inhabited world, it probably isn’t random. Sample size requirement to be able to state with 95% probablility that the answer is something or another, depends on the underlying shape of the probablility distribution. Evil fish distributions differ from normal in their requirements for sample size given a specific confidence man appearing at intervals of 80 years.
This could lead to a rebirth certificate controversy thus allowing more karma to run over poor dogmas and boycott hole’s food. With extreme unction. all wrongs preserved.
August 17, 2009 at 3:33 pm
oh gracious here come the joking statisticians…….
Here do a probability distribution on this:
The value of the metal in pennies, nickels, dimes, quarters, etc. versus metal content (or to simplify – market value of metal contained). Remember the metals that went into the coins changed over the years so this is tricky. You probably will need many charts to properly present the various relationships, and the “values” will need to be fixed on a placeholder of time, unless of course you want to get even more detailed and take time into consideration. Now we are talking dissertation type stuff……
But just now, on this criteria, I’d say dimes aren’t that valuable — at least relative to nickels and pennies. But I might be wrong, I still need to look some things up. Regardless, this could be a great Eagle Scout project.
So many numbers. So much data. How you gonna make heads or tails out of it. Comparing relationships might help.
Nonetheless, if we have a poker game at my place, just now I intend on playing with all post-65 (1965) dimes. But I will be happy to trade them with you for some pennies and nickles and quarters even. I particularly like those state-quarters, so I’ll pay a bit of a premium for them. Just now I’m looking for a Wisconsin one to complete my wife’s second (or is it third) state-quarter collection. I have “zillions” of em in my coin pile.
Happy Hunting!
August 17, 2009 at 3:35 pm
Note: the term “value” as first used above is in the fiat monetary basis known as “US dollars”. Fiat currency ain’t the same as coin. Coin is REAL currency.
Although I’m still studying that Constitutional document to make sure about this. All these goofy laws are over the top on many of these fiscal matters. So separated I suspect from the desires of the Founders.
Off to study,
Ken
August 17, 2009 at 3:36 pm
Oh sorry to clarify:
Value of coin (for example a dime is 10) versus Value of metal in coin per a given day’s market rates.
Good luck.
August 17, 2009 at 3:48 pm
I don’t believe that we don’t want Ms. Shallog to have health insurance.
There is more than enough to accomplish to get health insurance to those who cannot afford it under any circumstances. That does not mean that the entire health care industry has to be subsumed by an insensitive, tone deaf, government paid millions in new employees, financed by the taxpayer.
August 17, 2009 at 3:52 pm
oh and lastly, I should add:
Charlottemom – so nice to read a post of yours.
You know I see so many ladies in this town (some fellas too) riding in their big SUVs just talking up a storm on their easy-talking phones. I don’t think this is a good thing.
Not very safe for us other drivers on the roads. But I won’t deny, sometimes when I’m driving I am changing the radio buttons – at least on my older vehicle (1996 Honda).
I think the pendulum swung too far on some of the things that came out of the 60’s. Wonder if it will swing back, but not too hard really because I think I already know.
Also, there are more cycles than just that supposedly 20-year generational thing in groups of 4. Still that book that discussed this (the name escapes me just now but I posted a link in the archives) was most interesting from a historical perspective. I also really like Zinn.
Peace,
Ken
August 17, 2009 at 3:55 pm
The whole “health-care” thing going on now is just a microcosm of “much bigger” issues just behind the curtain. But the curtain is already slipping, and it seems to me, exposure is basically certain.
This ain’t Oz and Dorothy never left Kansas except in her imagination. Don’t you think?
August 17, 2009 at 3:57 pm
Ken, forget the constitution, it has been ignored since 1913 coup d’etat.
Want proof? Review every law passed by congress and check if it is allowed in the constitution. If not, that law can only be created in the STATES. If congress passed it as a ‘federal’ law anyway, the constitution has been abandoned.
Study the UCC. Commerce is new constitution.
If it increases commerce ( the flow of money) it becomes law.
Speaking of which, at what hour do you think the commerce-inducer-in-chief will dump PPT money into the DJIA?
without prejudice. all rights reserved.
August 17, 2009 at 4:02 pm
I will never forget the Constitution.
I was taught about it when I was just a little kid.
By the way, what rights are you reserving? This is a blog for heaven’s sake.
August 17, 2009 at 4:04 pm
and to be honest how can “anyone” say…..
“without prejudice”…..
what are U a lawyer on a blog?
Please, there are just too many of them out there….too many stinking lawyers who don’t even understand the Constitution.
Sad, very sad.
August 17, 2009 at 7:33 pm
Buffalo –
So funny of you to bring up the pampered woman yakking on the cell phone in SUV — For years, my husband and I have laughed at this caricature of the leisurely woman desparate to appear so so busy. What could be so important that the blonde Charlotte housewife coming from exercise class @ 11 am in a Lexus/Range rover MUST discuss ASAP? And I mean discuss as these are not transactional calls. This is surely not just a Charlotte thing, but SOP for the over-functioning housewife managing their staff – nannies, personal trainers, decorators — and gossipping with friends. hahaha
August 17, 2009 at 7:57 pm
Elaine said:
“The US government has been the #1 lending agent in the US. Now, it is 100% the ONLY lender in the US. All the banks are fakes. They are all kept afloat directly from the government which capitalizes them and protects them from default, so long as they are very big and very powerful and very politically connected.”
“The US government has allowed usury to flourish. The US government lends to Mastercard at nearly 0% while Mastercard collects 9-33% interest and fees on this money they borrow from the Federal Reserve.”
*** *** *** *** *** *** *** *** *** ***
I’m not sure you intended on saying what you typed but I think it is incorrect to say that the U.S. government is “lending money to banks.”
In order to lend money to the banks, the government first has to borrow it from the banks – which is how the bail-out worked.
The government, like everyone else, borrowers from the banks. The private federal reserve banking system creates all of money via loans.
As part of the scam – the government backs up the money the banks create.
I don’t think the government has issued any money since 1963 when Kennedy ordered U.S. notes to be printed by the treasury.
This was money without ANY debt – and it is the solution to 99% of our financial problems.
August 17, 2009 at 8:27 pm
You are correct, Dr. Kirbyluv.
That is, the government is not the lender of last or first resort, but is the INSURER of all these loans. The Federal Reserve insures no loans. The US government does. I made a mistake, not pointing this out.
The CDS are all about insurance, not loans. The US government is now in charge of cleaning up this CDS mess. Not the investment banks who created it.
August 17, 2009 at 9:05 pm
Elaine,
Thanks for the clarification. One very disturbing feature of the federal reserve scam is that our central bank may lend to other nations – which does not help the U.S. one bit but yet, we are insuring this money with our collateral.
Often I hear people say that “dollars are created out of thin air” which implies it has no value. While it may be true that all dollars are debt, it is also true that our money is backed by collateral.
I’ve read that you can never truly own your house – even if you pay it off, there may be liens levied against it by local, state and federal government defaults. Do you know if this is true?
I’m wondering what will occur when the day of reckoning hits us. Even if the derivatives don’t unwind, I think many of us may be shocked to find that our personal property is in jeopardy.
If the derivatives start blowing up, there is not enough equity in the country to off-set such a loss. What would happen?
Larry
August 17, 2009 at 9:15 pm
Yes, this is called ‘taxes’. As well as fines and fees. In recessions, the government increases fees and fines. When Reagan pushed for Fed tax cuts, I noticed that fees and fines shot through the roof.
This is very insidious, of course. About the derivatives beast: if and when it resumes devouring our finances, it will do this with utter impunity until all of this is digested and turned back into nothingness. Which is where it came from, of course.
August 17, 2009 at 9:26 pm
buffalo ken said:
Note: the term “value” as first used above is in the fiat monetary basis known as “US dollars”. Fiat currency ain’t the same as coin. Coin is REAL currency.
*** *** *** *** *** *** *** *** *** ***
ken,
Like dollars, coins are loaned into existence through the banking system. They too are tokens of debt which in my mind, means they are not “real” currency.
One good thing with coins is that the government at least collects a seigniorage (profit). Last I checked, the metallic content of a quarter was worth just over $0.04, a dime was worth $0.01, a nickel was worth $0.02 (kinda funny, a nickel worth twice the cost of a dime) and a penny was worth $0.008.
The treasury sells the coins at the legal tender rate to banks – so the spread is treasury profit.
Paper money costs around $0.04/note regardless of the denomination ( a one dollar bill costs the banks the same as a $100 bill). Digital money is essentially free to the banks.
There are some anomalies with a few coins. For example, a $50 American Eagle has a legal tender value of $50 and the coin is stamped on 1 ounce of 99.9% gold.
If you try to buy one, I’m sure you’ll pay around $1,000 for a coin that has only a $50 legal tender amount.
Think about that for a minute. A fellow in Nevada was paying his people with $50 golden eagles and they were listing the legal tender value on their tax return.
What a great way to get out of paying income tax. The guy and others in his company were tried and found innocent. I suspect, but am not sure, that they had to pay the back taxes owed.
Larry
August 18, 2009 at 12:21 am
I lived on $6000 a year when I was in college, collecting G.I. benefits. The people representative of this article know nothing of hardship. That’s part of why they act the way they do. They grow up still believing, “It’s all about ME.” I know. I went to school with bunches of them.
Being rich is not necessarily a good thing.
August 18, 2009 at 2:16 am
Being rich is not necessarily a good thing.
shockuhzulu
nor necessarily a bad thing
]
went to school with no G.I. benefiets,
worked nights on a turkey farm, weekends changing big truck tires, and washing rigs with a big long handled brush.
does any one really know what the real deal is with the lady and family.. . if a person has a large commitment to a life style .. 300,000 grand after taxes can be just as hard to manage,, as some one who is used to 50 grand and life style, or even 75, 100,000 yadda,,
what year were you in school collecting 6000 a year.. as i recall that was my starting wage for a training position with conoco the oil company. 1966.. rent was 50 bucks .. company car .. so we managed ..
i suspect the caracture of any person can be funny from any ones prospective, if one would like to judge .)judge not .. what ever that injection means in the fabric of spiritual living .. that you may not be judged ..
hard enough to keep the log out of my eye. prying a thorn out of anothers
modest in income is okay, being poor sucks, having some and to spare is best..
\
not me .. who can judge .. a person will carry enough self doubt and even unhappeness.. through the veneer of lifes experiences .
August 18, 2009 at 2:21 am
some one last night asked about martin armstrong and his cycle work
here is sinclairs prospective
Below is a quote from Armstrong’s latest dated August 7th. Regardless of the intrigue in his life this man is yet to wrong on any major trend, if you understand what he is doing for you. If you demand the day, the time of day, the price and the immediate direction you are asking too much from a human. Armstrong has been consistently right on the trend and the trend is the only friend you will find on the floor of any exchange.
“Gold continues to consolidate below $1000. This is a critical sign that confidence is swinging away from the government. Just as China is concerned for the dollar, they speak the truth, unlike the BS from Washington. They are speaking from self-interest and so is Washington. China is concerned about its holding in dollars and has been reducing the maturity of their holdings. The Washington crowd has been speaking out of their self-interest insofar as they do not want to face reality and keeps telling everyone “don’t worry-be happy.””
It appears that gold is building a base from which a rally up to $2,500 – $3000 area is very likely. There is even a possible rise to the $5000 level, but that is the most extreme projection. This is suggesting that confidence in the dollar is declining. This is not the classic, “Inflation nonsense, but a collapse in currency value consequence.”
August 18, 2009 at 2:32 am
kind of an interesting prospective from willie
MAJOR SCANDALS COMETH. THE PRIMARY POINT OF VULNERABILITY IS THE NARCOTICS TRAFFICKING, MONEY LAUNDERING, AND BANK COMPLICITY. $$$ September and October should prove to be super-charged with events unfolding, gradually recognized. The grapevine of connected communications has been mentioning a major upcoming historical scandal from US soil planned for exposure in the coming weeks or months that involves an ex-USPresident, major US banks, and US security establishment, possibly linked to the Mexican Govt. Its magnitude is reportedly in the hundreds of billion$, maybe trillion$. That would put it as multiples greater than the Madoff Scandal, and on par with the Wall Street bond fraud (still unprosecuted). Details are lacking, but in my view that spells Papa Bush, narcotics trafficking under USMilitary cloak, and money laundering with possible aid of Calderon south of the border, spanning more than two decades.
The public is somewhat oblivious, if not blind, to the avenues of infiltration of narcotics by the USGovt security agencies into the United States, where it has organized crime middlemen and distribution channels. The top of the crime syndicate is the USGovt itself. Three main channels are 1) offshore rigs from the Gulf of Mexico as supply depots, 2) soldier coffins from Afghanistan, and 3) defense contractor corporate jets. In February 2008, the Jackass watched the Super Bowl sitting next to a Grumman engineer. He went on during the entire extended halftime show explaining the corporate jet supply method of narcotics transport, which sidesteps the US Customs inspection process.
August 18, 2009 at 3:08 am
Karl Denninger reports that the infamous Gollum Sachs siren, Ms. Cohen, causes investors to dash their ships against the rocks with her siren song: “This is a bullish market! Time to buy is now!!!” Two of her past offenses were in 2000 and 2008, when stock markets were collapsing.
http://market-ticker.denninger.net/archives/1342-Calling-Reuters,-CNBC-And-Goldman-On-The-Carpet-AJC.html
August 18, 2009 at 3:10 am
Why does w.c. cite only dubious criminal sources for gold trading? Jim Sinclair’s company was sanctioned for fraud by CFTC, and Martin Armstrong was convicted by US Court of running a Ponzi Scheme; not only are both of the above criminals losers at trading, they both have continuously lied about trading results and furthermore fraudulently used credulous clients’ funds for private benefit. Evidently w.c. is credulous and illiterate, and thus it cites bogus claims of famous fraudsters. Some traders do know how to trade gold, and some do earn a good living from trading; Sinclair and Armstrong have only made a living off clients’ ignorance and only have lost money to real traders.
August 18, 2009 at 3:17 am
Elaine, Larry, you are both right. AND I don’t know for sure, but I think the citizens/taxpayers will be stuck with liens in case of any .gov default — which they all will. The CDS mess alone will destroy the US .gov now they have took it upon themselves to clean it up, and present us with the bill. And I’ll bet “O-man” and “Turbo Timmy” will guarantee (insure) against losses caused by the rest of the derivatives beast as well…
Grrrrr….:mad: I think it’s time for ALL the states and territories (including the District) to secede from the mess that is the US.
August 18, 2009 at 3:22 am
On the above… we need a Confederacy… a SOCIALIST Confederacy instead of a big, corporatist, central government who taxes everyone and tells everyone what to do including the states, save the large corporations that it serves… with a balanced economy: capitalist, communist and socialist elements balanced off from each other in a harmonious whole.
August 18, 2009 at 3:23 am
Confederacy of Sovereign Socialist States.
August 18, 2009 at 3:24 am
grabbin’ my butt reading the news… grabbin my but someore’
August 18, 2009 at 3:29 am
illuminator
August 18, 2009 at 3:10 am
the reason is that martin armstrong work is brilliant .. i have read the back ground of armstrong .. and have a different opinion of what went down// and have studied his cycle work the proof is in the pudding
please a little of your back ground ..
to make those statements other than a brief reading of someone else’s opinion.
and fractured spotty, blame the other person junk historical readings
as for sinclair you have not a clue about the person.., and are grasping for a straw man,
‘
i have studied his life story,, and your once again coming from a POINT OF VIEW THAT you have framed .with prejudice.
.
sinclair called the gold run in 1976
has been in business 50 years. many stories can be bandied about in that time frame..
if you speak of sutton then you might dig deeper,, as for armstrong and his princetion group… a huge group will tell you he was set up .. by the feds ..
martin has posted
his bonifieds , sinclair is an open book you we know nothing ,,
In TRE at 65 cents .. years ago .. w.c hold
August 18, 2009 at 3:38 am
illuminator
August 18, 2009 at 3:10 am
and p.s obviously you row a very small little toy boat in our back yard wadding pool .
you sound like one of those small minds on a yahoo board for you information.
best to take up knitting in two easy lessons.
that would capture your skill at historical interpretation .
August 18, 2009 at 3:46 am
w.c.:
Your most recent post detects the reason for your credulity: you do not discern between “opinion” and “fact”. Your describing Armstrong as “brilliant” is an opinion and–for reasons I provided above–a baseless opinion. My citing of both CFTC sanctions against Sinclair for fraud and also Federal conviction of Armstrong for running a Ponzi scheme is a fact; regardless of whether you estimate these sanctions to have been unjust or not, both cases involved investors who lost money: Armstrong and Sinclair both suffered huge trading losses in precious metals, a fact which was not “unjust” or “unfair” or “fiction”. Some expert traders do trade metals profitably; both Sinclair and Armstrong are losers, who both also defraud investors and lie about their trading record. Neither Armstrong nor Sinclair know anything about the gold market. Armstrong and Sinclair convince you as experts, only because you 1) know even less than they do 2)you are deficient in discerning between fact and opinion 3)deficient in capacity for reason.
August 18, 2009 at 4:01 am
ill-man-ator
what is sinclairs back ground /
who was his father, set up nasdq his mother .. huge property owner..
he refused a large faMILY TRUST .. to use only his skill at trading. to produce his income.. what what was the family name and why would he chose to not use it .. rather than go by sinclair
when did he start trading ,and age , how many trading houses did he start and own ;
what did he do after selling gold for 880 in jan 1980
why would volker ask him to unwind hunt silver deal.
how did wife die
what is our crowd
who financed the and helped land make the instant Polaroid
when did sinclair buy up land leases in africa and why,
how much did he sell sutton for
hyow much did he sell his communication system for in his home state .
why would china invite him to give a speech last month
ditto africa
why would he spend hundreds of thousand of his own bucks to spell out the role of gold , and inflection points ,
how many land lease does he have and how many are under option.
tell me about his helecopter incident where he almost crashed ,
your spotting understanding and throwing shit is disgraceful //
August 18, 2009 at 4:10 am
well A FACT .. WE KNOW NOTHING ABOUT YOU ,, OTHER than a spotty reading of history
we shall see .. if sinclair called this market in gold correctly,,
to determine my credibility from a nasal shrill cry., is a dark spot on your understanding , and a lesson in how to spot a little busy bodie ..
and your bonifieds .. for hells bells .. are you third down in coffee delivery to the mr big in your five man group.
August 18, 2009 at 4:18 am
sinclair on armstrong
Below is a quote from Armstrong’s latest dated August 7th.
Regardless of the intrigue in his life
this man is yet to be wrong on any major trend
prove this is wrong statement by sinclair on the major trends ,,
p.s. it will require you to read some background ,, and not use others intrepretation of the events in armstrongs tales from a cell,,
have read ..and satisfied myself … don;t need any opinion from you about armstrong ,
August 18, 2009 at 4:19 am
This jackass Sinclair ascribes to himself the appellation “world’s largest gold trader”. John Paulson right now owns over $3 billion worth of gold SPDRs in his hedge fund Paulson and Co., so Paulson right now owns probably over 1000 times as much gold as this jackass ever traded. Here’s how real traders work: the larger traders attempt usually to present themselves as SMALLER than they are not larger, which is why real traders like Paulson don’t wander around babbling about how big and important they are; only bogus traders and other frauds like Armstrong and Sinclair brag about their trading size and trading profits. Again, both Armstrong and Sinclair not only lost lots of money trading precious metals, but both also lied about it and continued to solicit credulous and ignorant investors such as w.c.
August 18, 2009 at 4:23 am
sure the justice system in america is spot on.
all documents are fine tooth gems of truth.
nobody is set up.. nobody is accused wrongly,, what was the final outcome of the sutton deal .. 200, 000 million bucks ,, to the shareholders,,
look spot look dumb bunnys running around sniffing the grass, for clues of shit ,,
August 18, 2009 at 4:28 am
illuminator
so your really 4th in that five man deal lol
August 18, 2009 at 4:31 am
largest gold trader in 1976 to 1980.
his stated objective now is not to be big in the gold market..
your mixing your 2009 with the 1970s.
and getting all confused.
so fact head what do you do. for a living.
August 18, 2009 at 4:39 am
i dont thing armstrong and sinclair are bragging about the size of their gold trades at this juncture.
armstong at the princeton funds ,, did create a model of cycles ,, that many were interested in. //
sue um lol
in tre at 65 cent meat head ,, gold 30o silver 4.00 //
just the small stuff for yo here,
the problem is probably anal Jealousy,, and small man rage,,
August 18, 2009 at 4:45 am
Armstrong and Sinclair are both criminals. I used to sponsor guys who wanted to get out of prison and they would have to report to me at frequent intervals.
One thing is certain: many of these guys are accomplished liars. As for predicting upcoming financial events: hell’s bells! I did this with tremendous accuracy for years!
And didn’t have to spend even one day in the slammer, too. Watch out for guys like these two. I got lots of emails touting them as great thinkers.
But when I read their stories about how they got in prison, my alarm bells rang nearly constantly. They can’t tell a straight story.
What cons do, is make the story very CONVOLUTED and queer with lots of irrelevant asides and never, ever get to their points.
They will talk about this or that but not a chronological, detailed history that has verifiable facts. Instead, they throw accusations at absolutely everyone.
And are very, very big on CONSPIRACY THEORIES. Everyone is out to get them, the poor dears. I used to tell guys, when interviewing them, ‘I can’t sponsor you if you can’t admit the truth. Tell me the truth, tell the judge the truth and you will be free. Lie to either of us and you will be history.’
And guess what? Some of them would still try to lie to us! It was pathetic.
August 18, 2009 at 4:48 am
Exposing losers like Sinclair or Armstrong or Denninger is a good medium for mitigating stress, because they are all so stupid and such easy kills. Internet often is abused by frauds, so rational expert posters have a duty to expose the frauds in order to protect the infirm and imbecile. Correct the errant by example: slap around those such as w.c., and then give a good kick in the ass into the gutter
August 18, 2009 at 4:51 am
justice for the illuminator
the the conclusion of court decisions
]Scalia says there’s nothing unconstitutional about executing the innocent.
August 18, 2009 at 5:05 am
ems
how did sinclair get in prison?
quote ems
but when I read their stories about how “they” got in prison,
did sinclair predict gold 880 in 1976 yes no
did sinclair call the bottom in gold at 260 yeas no
ems sinclair is a business man. I have been in business for years and have been unjustly accused of many things ,, lawsuits , defamed by employees who had no clue.,
it is an easy stretch to see in others some flaw of character ,, and compound it ..
so far my studies and readings of sinclairs experience and life history,, this is a man with extrordinary ability at a young age of 19 to make it on his own .. in the world of finance.
my take is he is outspoken ,, and rubs many the wrong way. but his business ethics from my studies and view point is way above the average business person//
no one walks away from “our crowd “changing his last name .. refuse family trust funds ,, to make it on his own ,
armstrong and his work on cycles is outstanding ,, and a work that has drawn attention in the highest levels of government , the fed .,.
the justice system is sparkly clean lol
August 18, 2009 at 5:15 am
illuminator
the only thing exposed is that you have a fine taste for hyperbole,
still we know nothing of you ..
ems yes,, and very opinion ated ,,
read the wonderful work JFK and the unspeakable .. by douglas,, and get a real wiff of the cia in action. plausable deniability … grassy knoll…
and oh yes 10 tens of military grade thermite ..
and the military industrial complex,, siagon, cuba, russia and the cold war.
August 18, 2009 at 5:21 am
now dennenger .. sloppy hyperbole
would you know a financial statement from your hole in the ground ,
talk about frauds ,, rational expert posters lol
August 18, 2009 at 5:24 am
ems
pray tell what does all that yadda have to do with sinclair and armstrong ;
yep discribes illuminator to the T
What cons do, is make the story very CONVOLUTED and queer with lots of irrelevant asides and never, ever get to their points.
They will talk about this or that but not a chronological, detailed history that has verifiable facts. Instead, they throw accusations at absolutely everyone.
August 18, 2009 at 6:08 am
Fear-mongering at the W$Journal:
http://tinyurl.com/okmyq6
August 18, 2009 at 6:44 am
W.C. said: “went to school with no G.I. benefiets, worked nights on a turkey farm, weekends changing big truck tires, and washing rigs with a big long handled brush.”
I slept on the ground for years, on and off, and ate Meals Rejected by Ethopians.
When did I go to school? over 2 decades ago.
Could you tell us where you get your info on the coming scandals?
And finally, when did you and Illuminator become such close friends?
August 18, 2009 at 6:59 am
A recent Mogambo Guru classic verifies that we are now living in a financial Twilight Zone:
http://tinyurl.com/n7apnb
“California has issued a new fiat money that is so foul that not even the issuing government will accept it in payment.” Hilarious stuff.
August 18, 2009 at 7:07 am
shockuhzulu
August 18, 2009 at 6:44 am
Could you tell us where you get your info on the coming scandals?
this guy willie
Unfortunately, the Jackass got threatened again, this time clearly by a USMilitary guy out of uniform in an unmistakable warning given in a public park in San Jose Costa Rica here on a Saturday afternoon. He likely was dispatched to deliver a message from the syndicate, or had noticed monitors of my telephone calls. This is the first personal threat received in Costa Rica. The last threat came at a gold conference in Munich Germany in November 2006, one month before my arrival in this semi-paradise land. His message was to be careful about what is discussed and written regarding a certain very serious topic that is over-arching in nature. This aggregate concept will not be discussed, but the individual pieces will be covered still. The syndicate is losing control,
And finally, when did you and Illuminator become such close friends?
LOL ,, pretty easy to throw mud at people when they are not here to defend themselves as per sinclair and armstrong ,, illuminator from a low level opinion of himself. threw out bits of spew.. just him throwing a left hook ,, me weaving and moving refuse to take this mindless hyperbole..
so you graduated in the late 1980’s
where you serving in the forces as you slept on the ground eating gruel to earn GI benefeits.. interesting story
August 18, 2009 at 11:22 am
an emsnews poem post submittal for 8189 (August 18, 2009)
____________________
Good morning everyone.
I swear last night all I could do was dream about pennies, nickels, and dimes, metal content thereof and changes made to such;
plus charts, curves, slopes, point of inflection, inflection points, curly-curlies, hurricanes, typhoons, oh yeah and what are they called again…..hm, spirals.
Ah, spirals are so amazing, but any spiral that ends just ain’t a spiral in my mind. Maybe it used to be but once it ends then it is a dead spiral.
That is why there is no such thing as a “black-hole” in my mind. Black-holes are fabrications of disconnected minds – or at least, they can’t be proven. Has anybody been to one or even come close?
Maybe they are out there in deep space, but who cares. Not me. Not anymore. We ought focus on those things close to home that we can actually approach, touch, feel, see, hear maybe, smell (or not), and sense in general. It would be cool though to actually get on the Moon.
So anyhow I will trade all of my dimes to any of you for an equivalent amount of pennies and nickels. Seems like good insurance to me. You choose.
Where are all of the “regulars”…….
No matter.
_________________
end of poem
August 18, 2009 at 11:34 am
oh I mean it about that dime trade.
A dime counts as 10.
A nickel 5.
A penny 1.
So I might have a few hundred dimes worth lets say 1000.
Give me 190 nickels and it is a deal.
Give me 900 pennies and it is a deal.
See (metaphorically) – I have already lowered my price.
You can’t go wrong with this deal can you and for me it remains: “good insurance”.
No gambling involved really – not a bet either. Just good common-sense insurance.
We just don’t have much of that available these days so creative thinking is a must.
Happy Hunting!
August 18, 2009 at 12:32 pm
To clarify even further.
1. 100 dimes for 190 nickels.
2. 100 dimes for 900 pennies.
3. 100 dimes for an equivalent combination of nickels and pennies.
4. Do we have a deal?
5. Rhetorical please.
Frankly, I’m tired of a lot of ladies driving and chatting as if they own the whole place. That is not true.
Peace,
Ken
August 18, 2009 at 12:37 pm
Oh yeah, and because dimes dated after 1964 do not contain any silver, please don’t expect any of those in my trade….they won’t be there.
http://en.wikipedia.org/wiki/Dime_(United_States_coin)
DrKrbyLuv – thanks so much for your earlier post. Thank-you.
August 18, 2009 at 12:39 pm
actually, just to be literal most dimes dated after 64 have no silver – there are excpetions.
Some of the dimes made in 65 and 66 actually did have silver, but they were dated 64. This seems a bit wrong to me, but what do I know?
Glad that Russian ship vessel story seems to be coming to a close. I’m still curious about the bonds and there was something else…..oh well, can’t remember just now.
Peace (signing off):
Ken
August 18, 2009 at 12:51 pm
http://blogs.reuters.com/commentaries/2009/08/17/dont-be-fooled-by-global-stock-stumble/?p=2739?tempedition=debatehub
Don’t be fooled by global stock stumble
.
if i were to advise anyone about the markets it is this… noone has really made inflation adjusted dollars going long US markets in 10-20 years… I lost my ass… and thats why everyone in the media wants you to play… so guys like me can loose their ass… i for some reason thoght it was more or less ownership…
.
yea rite… ownership of being the guy holding the bag…
.
the banks went bankrupt giving out bonuses in order to create this economy… its about lunatic given the advances in communication technology…
.
the US just want ‘those jobs to ever be comming back’…. so we need a 21st century economy of 6 figure middlemen who work for multi billion dollar conglomerates
.
ownership is out, middlemen/brokers are in
August 18, 2009 at 1:05 pm
check out the chart…
http://finance.yahoo.com/echarts?s=^DJI#chart2:symbol=^dji;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
.
the dow is definately STILL struggling to break above 8k after 12 years… thats how little real wealth we have accumulated… bad investments dont pay off…. thats the only rule
.
and yet still we pay these fortune tellers megabucks to grease the wheels of our strained retirement resources…
.
if the kids arent gunna be better off long term financially than you are when you retire… well you do the math, guess the government will make up the difference
.
we need people who can invest and get 2-3% REAL returns in good years for the broad market… not just Über pumpers
August 18, 2009 at 1:13 pm
Calling Reuters, CNBC And Goldman On The Carpet: AJC
http://market-ticker.denninger.net/archives/2009/08/17.html
.
Imean you got guys claiming back in 2k7 they were TRYING TO SAVE INVESTMENT CAPITOL from going down the toilet by calling out the systemic market fraud for what it was….
.
and the SEC does nothing
.
you wana know why we cant make real returns on the long end
.
government enables embezzlement cuz they think it creates tax revenue… thats what i think… its government group think thats destroying the economy… government thinks that if elitists cant steal from us -> tHey CanT’ StEal FruM uS
August 18, 2009 at 3:01 pm
The SEC has been controlled for some time now…..controlled by outside interests.
Seems as such to me.
Any disagreements with this assessment?
August 18, 2009 at 3:02 pm
Plus, how many banks is it now that have “failed” in the last few years.
How much do we have in the way of funds to provide insurance to the deposits.
And let me tell you, “2 big 2 fall” is a huge FALLACY.
The bigger you are the harder you fall.
At least here on Planet Earth.
Agree or disagree?
August 18, 2009 at 3:03 pm
Hells Bells – I’ll answer my own question.
It all depends on harm and commonweal don’t you think?
If you cause harm and you do not support the commonweal, then you are NOT too big to fall.
Simple.
August 18, 2009 at 4:15 pm
Jim Willie threatened in Costa Rica park:
@ w.c.
TPTB are so stupid.
One threat and Jim Willie goes from Star status to “Mega Star” status with a Five Star Credibility rating.
The Lizards must be feeling the heat.
(ht)
August 18, 2009 at 7:52 pm
WC: the army. not just a job it’s an adventure. an adventure into the rabbit hole. being exposed to the depths of depravity represented by a trillion dollar killing machine and huge goobermunt bureaucracy. but they paid my tuition, so why complain?
Jim Willie better run for cover!
August 21, 2009 at 6:26 pm
“I remember when I was 10 years old.”
I don’t remember that, but I remember when I was ten (I think you’d have been about 16): we didn’t have phones like that. Our phones (poor us!) were hardwired to the wall and you couldn’t take them anywhere. But that was an improvement over the lives of all those previous generations who had to write letters.
That enV2 device doesn’t do much for me, but I’m trying to think of ways to convince my wife I need an iPhone. I like those.
Regarding Mastercard: let’s try to separate two issues here, shall we? I carry a Mastercard, and I think I have about $600 on it right now. But at the end of the month it’ll be zero, just like it was at the end of last month.
It is indeed expensive to carry a balance on a credit card, but nothing says you have to. The AMEX card, for example, has to be paid off each month.
Credit cards are convenient in ways cash is not, but carrying a balance on one is stupid.
September 2, 2009 at 3:12 pm
It’s definitely difficult to forecast the end of the bubble. I’ve a friend who says that it’s probably not a bubble since he thinks demand would pick up when young adults really begin to move out to look for homes of their own. I wasn’t aware there was a state financial agency which routinely bails out its banks regularly
November 18, 2009 at 1:23 am
That’s right! They don’t hold any of these loans! They sell them to schmucks! They take on NO RISKS. But reap great rewards! So they can live in palaces while whining about having not enough money because they need at least a million a year just to survive, the poor little jerks.