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The Ruinously Expensive American Military
Pay and benefits are out of control
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America’s Republican politicians complain that “entitlements,” by which they mean pensions and medical care, are leading the country to bankruptcy even as they fatten the spending on the Pentagon, which now takes 12 percent of the overall budget. And it should be noted that while workers contribute to the social programs during all their years of employment, the money that goes to the military comes straight out of the pockets of taxpayers before being wasted in ways that scarcely benefit the average citizen unless one seriously thinks that folks over in Syria, Iran and Afghanistan actually do threaten the survival of the United States of America.

I was in a Virginia supermarket the other day checking out when the woman behind the cash register in a perky voice asked me “Will you give $5 to support our troops?” I responded “No. Our troops already get way too much of our money.” She replied, “Hee, hee that’s a funny joke” and I said “It’s not a joke.” Her face dropped and she signaled to her boss over in customer service and asked her to take over, saying that I had been rude.

If there is any group in the United States that exceeds the sheer greed of our politicians it is the military, which believes itself to be “entitled” as a consequence of its role in the global war on terror. I am a veteran who began service in a largely draftee army in which we were paid “twenty-one dollars a day once a month” as the old World War 2 song goes. When we got out, the GI Bill gave us $175 a month to go back to college, which did not cover much.

Today’s United States has 2,083,000 soldiers, sailors, marines and airmen on active duty plus reserves. Now that the military is an all-volunteer rather than a conscript force, it is understandable that pay and benefits should be close to or equivalent to civilian pay scales. Currently, a sergeant first class with 10 years in service gets paid $3968 a month. A captain with ten years gets $6271. That amounts to $47,616 and $75,252 a year respectively plus healthcare, food, housing, cost of living increases and bonuses to include combat pay.

Though there are several options for retirement, generally speaking a soldier, sailor Marine or airman can retire after 20 years with half of his or her final “high three” pay as a pension, which means an 18-year-old who enlists right out of high school will be 38 and if he or she makes sergeant first class (E-7) he or she will be collecting $2338 a month or more for a rest of his or her life adjusted for cost of living,

Many Americans would be astonished at the pensions that general officers and admirals receive, particularly since 80% of them also land in “retirement” generously remunerated positions with defense contractors either in active positions soliciting new contracts from their former peers or sitting on boards. General David Petraeus, whom The Nation describes as the “general who lost two wars,” pulls in a pension of $220,000 even though he was forced to resign as CIA Director due to passing classified information to his mistress. He is also chairman of a New York City based company KKR Global, which is part of a private equity firm Kohlberg, Kravis Roberts. He reportedly is paid in six figures plus bonuses for “oversee[ing] the institute’s thought leadership platform focused on geopolitical and macro-economic trends, as well as environmental, social, and governance issues.”

It apparently is difficult to take money away from general and flag officers. An Air Force four-star general named Arthur Lichte was reduced in rank to a two-star in 2017 after he was found guilty of having raped a lower ranking woman officer. His pension went down from $216,000 to $156,000 due to the reduction. Normally, however, America’s 1,000 general and flag officers can look forward to comfortable retirements.

But on top of that rather generous bit of cash there are the considerable other benefits, as the old recruiting sergeants would put it, the “bennies.” Military retirees can receive full tuition and expenses at a college or technical school if they choose to go back to school. This is why one sees so many ads for online universities on television – they are trolling for soldier dollars knowing that it’s free money. The retiree will also have access to heavily subsidized medical care for him or herself plus family. The medical care is a significant bonus under the Tricare system, which describes itself on its website as “the gold standard for medical coverage, [that] is government managed health insurance.” A friend who is retired recently had a hip replacement operation that would have cost $39,000 for only a few hundred dollars through Tricare.

What is significant is that even enlisted military personnel can start a second career on top of their pension, given that many of them are still in their thirties. Some that have security clearances can jump into highly paid jobs with defense contractors immediately while others also find places in the bureaucracy with the Department of Homeland Security. Working for the government twice is called “double dipping.”

Some would argue that military personnel deserve what they get because the jobs are by their very nature dangerous, sometimes fatal. Indeed, the number of maimed and PTSD-afflicted soldiers returning from the endless wars is a national tragedy and caring for them should be a top priority. But the truth is that only a very small fraction, by some estimates far less than 20% of Army and Marine personnel in so-called “combat arms,” ever are in danger. Air Force and Navy personnel rarely experience combat at all apart from bombing targets far below or launching cruise missiles against Syrians. It is true that given the volatile nature of war against insurgents in places like Afghanistan many soldiers in support roles can come under fire, but it is far from normal and most men and women in service never experience a gun fired in anger.

Some numbers-crunchers in the Pentagon have already raised the alarm that the current pay, benefits and retirement levels for military personnel is unsustainable if the United States continues its worldwide mission against terrorists and allegedly rogue regimes. And it is also unsustainable if the U.S. seeks to return to a constitutional arrangement whereby the nation is actually defended by its military, not subordinated to it and being bankrupted by its costs.

 
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  1. Thomm says:

    Wait, so this is a lefty Democrat blog now, where The Nation is cited favorably?

    Our men in uniform, particularly the grunts, make sacrifices that the others don’t make. Sure, some officers are corrupt and the military manages to manufacture demand for its expensive products, but this article goes way too far.

  2. Anonymous[123] • Disclaimer says:

    US spends 4% of GDP on the military versus 2% in China, France, UK. That’s high but considering how rich the US is, not unbearable. Weak article.

  3. This is how Rome fell.

    • Agree: renfro
    • Replies: @Verymuchalive
    , @polaco
  4. Captains with just eight years in service rake in over $100,000 a year with nothing more than a four-year degree in history! Senior enlisted can also make over $100,000 a year with a high school diploma, plus free family health care and zero contributions to retirement. After just four years of service, a married GI is making more than the average American college graduate with 20 years of work experience! I wrote about this several years ago for those who still fall for the draft era “poor GI myth”.

    http://www.g2mil.com/pay.htm

    Note our military spends billions of dollars on recruiting ads, but never mentions high pay. If they did, Congress may end the annual pay boost and lines would form at recruiting stations. Even most “experts” and reporters are confused because military lobbyists use the inflated ECI index (which includes increased health care and workers comp costs) rather than just wages, and pretend housing and food allowances are not income. Even the average military pilot earns twice a much as the average airline pilot, based on facts not Pentagon spin stories.

    This why career servicemen love the military, they are making 2-3 times more than comparable civilians, and they know it! Read my article if you are confused. Then many of these “retirees” leave at age 40 with nice retirement, then get a regular federal job, and put in for every minor ache and pain and get a thousand or more dollars each month in VA tax free “disability” pay. Sleep Apnea (aka snoring) is a popular disability to claim worth up to 50%. Some get 100% disability but you wouldn’t know it if you met them, and still work for Uncle Sam full time! The LA Times reported that after Senator John McCain announced he was fit to run for President, he was getting military retirement, 100% tax free VA disability, his Senator pay and social security retirement!

    Now before some ignorant servicemen whine about those serving in combat zones or deployed on ships, note that fewer than 10% of GIs ever serve in a real combat zone, not the fake ones like Bahrain. They rate their pay, but not those working soft office jobs in Hawaii or San Diego or Florida. Keep in mind that we have a volunteer force, and our military must constant prune the career force since far too many want to stay in as long as possible. No one leaves because of poor pay, but because of political BS.

    • Agree: Stan d Mute
    • Replies: @Backwoods Bob
    , @Jeff77450
  5. Dan Hayes says:
    @Thomm

    Thomm:

    I usually share your disdain for The Nation magazine. But in the vein of stopped clock correctness twice a day even it can sometimes be correct, witness its editor Steve Cohen’s completely admirable efforts to lend sanity and substance to America’s Russian foreign policy!

  6. @Carlton Meyer

    I’ve seen articles decrying that first-year married privates are eligible for food stamps. Because their housing, medical, and the cost of living differential are not “income”. They’re living on more than twice the reported income. So yeah, they have arranged the pay precisely so that they are not subject to any income tax, and are in some cases eligible for food stamps.

    They have rec vehicles they can check out, boats and four-wheelers, snowmobiles and etc., special parks and land reservations, scenic cabins they can stay at with trifling fees or are free. Ours has a golf course that must be staggering for upkeep. Gyms, facilities for parties and events – stuff you’d pay a lot for in the private sector. The subsidized shopping is still there, but is not the huge discount it was at one time, at the bases in this state.

    The state gives them all kinds of benefits like instant residency for hunting and fishing. The stores give them discounts. Military appreciation days.

    And frankly it isn’t your STEM people, business and tech fields going into the military. Their next best alternatives are a pittance by comparison. For who you are getting, the quality of recruit, this is well paid.

    I don’t mind that so much as having three times the size we need to defend our borders, which is what we should be doing and no more. Foreign entanglements, searching for monsters to destroy, acting as the world police – this is the main problem.

    • Agree: Mishra
  7. Wally says:
    @Thomm

    “Our men in uniform, particularly the grunts, make sacrifices that the others don’t make.”

    No they don’t. Many would be unemployable in the real world.
    Apparently you did not read the article.

    Curiously not mentioned, the billions every year that Congress steals from US taxpayers and gives to “that shitty little country”, ‘Israel’, and the fact that our military does their fighting for them.

  8. CalDre says:
    @Anonymous

    4% of GDP, is it? Not sure about that but I do know it’s 30% of federal tax revenue. Military spending is about $1 trillion, if you include all the various categories, per annum; whereas Federal receipts are about $3.3 trillion per annum.

    So about 30% of all Federal tax receipts – 30% of the money stolen from me at gunpoint, which forces me to labor for months every year without pay – goes to corrupt contractors, murderers and war criminals to oppress and murder people and destroy property throughout the world in service to the Evil Empire, including, of course, Jew supremacist Israel.

    So since you think it’s so “bearable”, you Evil Empire supporter, why don’t you kindly give me back my 1 month of stolen labor every year to pay for your beloved Evil Empire’s perpetual Campaign of Death, Oppression and Destruction?

    • Replies: @Sowhat
    , @KA
    , @Momus
  9. LondonBob says:
    @Anonymous

    Clearly is if you look at your debt to GDP and deficit.

    Interesting because the US has its history as part of the English tradition of no standing armies, militias, all possible due to the favourable geography of having a strip of water, or moat as Shakespeare put it, to deter potential invaders. The US military really is a WWII and Cold War creation. That the US seems to be the only nation not have benefited from the end of the cold war dividend in reduced military spending is an impressive feat by lobbyists and neocon ideologues.

    • Replies: @Hibernian
  10. TheBoom says:

    For me the pay and benefits aren’t the core problem. We are paying to destabilize the world, kill US citizens, kill civilians, increase terror all for wars that don’t benefit the American citizenry as a whole in any way. At one time they might have been for corporations now they are for Israel.

  11. @Cloak And Dagger

    You’re spot on. By the Late Roman Empire, society was divided into 2 groups – the humiliores ( lower classes ) and the honestiores ( upper classes ). Soldiers belonged to the latter group, and most historians consider that the common soldier never had a higher status in any society.
    History doesn’t repeat itself exactly, but modern day America has largely followed the Roman route. Certainly, the sheer cost of the Roman Military was a factor in the decline and fall of the Roman Empire.
    The Roman soldier had a much more dangerous period of military service than the risk averse modern American military. Roman veterans certainly earned their benefits.

    • Agree: RadicalCenter
    • Replies: @G.-M. P.
  12. myself says:

    One thing worth wondering about is:

    What is the real “defense burden” (the percentage of our GDP spent on the military) sans bullshit accounting tricks and “reclassification” of expenses.

    For example, if we used accounting methods as used in some of the more efficient, less bloated military establishments of our allies, what would be the actual cost to our economy of our defense spending?

    For all we know, military expenditures may actually be back to Reagan Cold War percentage levels, or slightly more.

    • Replies: @Tbbh
    , @Thorfinnsson
  13. Anon[257] • Disclaimer says:

    Article didn’t mention the dependency allowance. I looked on military websites to find the amount but you have to be registered military to find the amount

    There is a clothing allowance, why? And the military is heavily affirmative action Hispanic black and female I live near a big VA. Twice a day hundreds of VA employees drive right past my house. Almost all are black. I drive through the VA often. Most everyone I see is black except for the Indian immigrant Drs.

    California vets get some kind of no down payment low interest mortgage. When they retire they can get a loan for $50,000 to use for setting up a business or buying rental property.

    • Replies: @Rod1963
    , @J.Ross
  14. Read
    John Toland, ‘Gods of War’, New York 1985
    to see the amounts McArthur squeezed out of the president of the Phillipines, with the Pentagon knowing.

  15. @Thomm

    Our men in uniform, particularly the grunts, make sacrifices that the others don’t make.

    Based on my experience as a young kid, and observations as an old fart, I call BS on that unless “sacrifice” has acquired a new meaning on the street that I’m unaware of.

  16. @Anonymous

    US spends 4% of GDP on the military versus 2% in China, France, UK. That’s high but considering how rich the US is, not unbearable. Weak article.

    The US is rich? Living on borrowed, stolen and extorted money and we’re rich? The US has become a huge third world strip mall republic, complete with an overstuffed and parasitic military, and you think we’re rich?The whole murderous,mendacious, thieving, and morally and financially bankrupt enterprise is poor by any significant measure, so your “reasoning” is what’s weak.

    • Replies: @Verymuchalive
    , @Anonymous
  17. Rank ‘Ol Rummie spoke the truth once and it happened one day before the towers were pulled.

    Rumsfeld says $2.3 TRILLION Missing from Pentagon

    “The adversary is closer to home; it’s the Pentagon bureaucracy…”

    - Donald Rumsfeld on Sept. 10, 2001

    PS: For those who don’t know where the missile, err, “plane” hit the Pentagon on 9/11, do a tad of research and tell me, with a straight face, that it was some coincidence.

  18. @jacques sheete

    Federal Debt $20 trillion, Accumulated Balance of Trade Deficit since 1990 $12 trillion ( unadjusted for inflation ). That’s not even including State and Local Debt, never mind Private Debt.
    The only thing preventing complete bankruptcy is that the Dollar is the World’s Reserve Currency- for now. Once China and others start dumping US Treasury Bonds, that will be over.

  19. Tbbh says:
    @Backwoods Bob

    Two of my friends own motorcycle dealerships in San Antonio. Gee. I wonder how they can sell so many, compared to dealers in towns without major military bases…

    • Replies: @Respect
  20. Tbbh says:
    @myself

    We spend more than the next ten nations, COMBINED. …To “defend ourselves” from goat herders that can’t afford passports or air tickets. 800 bases scattered across the planet. But, thinking about it, folks like somalians have been invading the US…OH. WAIT! Federal refugee programs have been importing somalis. NEVER MIND.

    We fight them there so we can bring them here and put them on welfare/food stamps? Makes perfect sense.

    • Replies: @Anonymous
  21. DanFromCt says:

    I was in the field and in a number of firefights during my year in Vietnam, 69 – 70, and I find the idea of some store or VA clerk thanking me for my service offensive as all get out because I know these well meaning strangers, who owe me nothing at all, are being played for fools to serve the interests of America’s worst enemy, Israel and its American fifth column. I’m also disgusted by this new breed of soldier who’s less any sort of manly patriot than a skin-headed, “muh brothers, muh mission” wind-up martinet who mistakes the vain daintiness of pumping iron as well as technical superiority’s easy targets for manliness. As for the Pentagon, it’s the mother of all bureaucracies whose leaders but for the costumes are no more warriors than the time-serving hacks in any other bloated bureaucracy, who couldn’t care less, as the facts make clear, about sending young Americans to die and be maimed so the sons of their Israeli masters need not.

    • Agree: Mike P
    • Replies: @ThreeCranes
  22. I used to feel smug after jumping from the US military to banking in the knowledge that my starting pay was several multiples of my military pay and even outstripped that of the JCS heads who I served under.

    Somewhere along the way, probably in the 2000s during the so-called War for Talent, Federal civilian and military pay got a significant uptick well in excess of what the KSAs (Knowledge, Skills, & Abilities) of these folks as measured by OPM and DoD, and there has been no looking back.

    Giraldi might be right that the troops are overpaid, but that is just the tip of the iceberg that is the Military Industrial Security Academic Complex.

  23. anon[846] • Disclaimer says:

    Defense spending is allegedly 3.6% of GDP ($700B / $19,000B) but is actually over 5% if you factor in the hidden Defense spending. VA benefits, over $100B, nuclear arsenal covered under Dept of Energy (my favorite) over $30B, Defense portion of debt service over $100B, and other places that I’d have to dig up.

    Defense spending is over 30% of the budget, the low ball 15% is only if you include social security and medicare which you should not because that is covered by dedicated payroll taxes. If payroll taxes were eliminated, those programs would go away but the budget deficit would not be impacted. This is a trick that defense consultants play to make Defense spending look smaller.

    Defense spending is over 50% if you also discount our annual debt service, this is why the $1.3T featured $600B for domestic vs $700B for Defense.

    I thought that singling out military pay was a tad mean spirited. Capping pensions that disproportionately benefit Generals who then go onto consulting jobs for Defense contractors and get paid positions on FOX might be a good idea but I didn’t like the tone of this column.

    No serious person who says they care about budget deficits can approach them without looking at Defense Spending.
    - Chris Chuba

    • Replies: @ohmy
    , @RadicalCenter
  24. Johann says:

    One of the disturbing actions of the soldier worshipping conservatives is the Wounded Warrior scam which uses crippled and deformed GIs in ads aimed at the heartstrings of the American public. The fact that so many soldiers are returning from useless wars in dire condition should be the responsibility of the Department of Defense (War) and its Government which is responsible for the mayhem and violence in so many parts of the world not a subject for organized begging which often preys on the suffering of the young.

  25. Re; Mr. Giraldi’s brave & unspoken words: “(ZUS military) Pay and benefits are way out of control”

    With a long history of planning & implementation, below, presstv explains how radical “citizens” were headhunted & placed in control as to when & how our hallowed ZUS troop commanders do their Jewish job assignments.

    http://www.presstv.com/Detail/2018/05/15/561763/Israel-gained-control-over-US-foreign-policy-by-placing-citizens-in-key-positions

  26. Anonymous[405] • Disclaimer says:
    @jacques sheete

    US is rich and the debt is high. Both can be true at the same time. But taxes are relatively low so if there is a government debt crisis paying down the debt would just involve raising taxes. Just look at GDP per capita US which is very high up there so I don’t see how anyone can argue the US is not a very rich country.

    Despite many problems, the US has many advantages like half the world’s Ashkenazim who are very good at creating unbeatable new companies. Just look at how the half the 40 riches entrepreneurs under 40 in the US according to Forbes are Jewish. Jews are producing so much innovation in the US that it offsets a lot of the problems like military spending at 4% of GDP and less productive sub-populations.

  27. JackOH says:

    Good article, Phil. I served in the 1970s, tail end of Vietnam Stateside, and never heard a shot fired in anger. I am grateful for the G. I. benefits I received.

    No institution in a representative democracy ought to be above measured criticism. I have a relative who volunteers at the local VA clinic, and there’s some sketchy evidence that some patients with very good group health insurance benefits are working the system and getting VA treatment to avoid co-pays.

    I personally found David Hackworth’s criticism of the American military fairly persuasive. Deep bureaucratization, tunnel vision, advancing officers for their inoffensiveness and favor-currying chops, the whole mess.

    Plus add the big three already mentioned by some folks above. (1) America’s armed forces are a Petri dish for social engineering, (2) corruption, (3) the political mafia-zation of America’s armed forces so that it’s acting as a White House-directed quasi-mercenary “enforcer” for corporate interests and various other sovereign interests.

  28. Tom Welsh says:

    “An Air Force four-star general named Arthur Lichte was reduced in rank to a two-star in 2017 after he was found guilty of having raped a lower ranking woman officer”.

    You say he was ***reduced in rank*** for raping a female subordinate?

    Why wasn’t he given 50 lashes, a dishonourable discharge, and a prison sentence? Even a random civilian would get the prison sentence for rape. And for such a senior officer to commit a crime like that is, of course far, far worse.

  29. Israel and their ziocons control every facet of the U.S. gov and have used the U.S. army as a proxy army of Israel to fight and die for Israel in the ME while they sit it out in their ivory towers in Tel Aviv and New York City and London.

    To add to the tragedy millions of civilians have been killed in these wars for Israel in Iraq and Afghanistan and Libya and Syria and Yemen and various other places through out the ME, and all of this carnage for Israel.

    Just like the Roman empire where the rulers paraded their conquering armies through Rome , Trump wants to parade his Israeli proxy armies through D.C. and take their review as a Caligula. Trump is a puppet of the zionists and Netanyahu and his controllers the ROTHCHILDS ie the RED SHIELD which is dripping with Americans blood.

    Orwell was right, the wars never end in OCEANIA and we have become Oceania, and all because of our zionist masters.

  30. That was a very good article with lots of facts that I was unaware regarding the various forms of compensation. I have not been in the miltary. I will tell you that I have seen how things work on the procurement end, and that is the real shitshow, moneywise. The amount of wasted money in personnel involved in trying to micromanage a contractor, the “generation” of paperwork that must weigh 10X vehicle max-gross-weight in order to sign off on it, and other things, ruin the job for the technician or engineer in any company making stuff for the US military.

    It’s very easy to spend other people’s money. Everyone besides Socialists and Commies probably learned all that during his kindergarten years.

    (BTW, that last sentence of mine brought up the only one (little tiny) thing that I didn’t like about the article. You KEEP USING “his and her”, “he and she”, etc. Enough of that crap, please, Mr. Giraldi. Unz is one of a number of place on-line on which one doesn’t have to be PC. He can write as he pleases. The rest of your English is very professional, so why this?).

    Anyway, great article, just the facts and honest opinion without any hyperbole. Regarding your very last paragraph, BTW, it’s not just that the army is so costly, but if America ever had to defend itself from one of the countries we buy parts from, cough, China, cough, cough, that’ll be a laugh. We are operating on borrowed money, as Jack S (#16) stated, AND foreign supply lines. We’re number 1! Yeah!

    • Replies: @RadicalCenter
  31. @Anonymous

    Among the lots of good comments on the thread so far, yours is kind of an outlier, to put it nicely. No, you cannot be both rich and in debt (6 – 7 X more than your yearly income) at the same time.. There are perhaps different definitions of broke that people or families may use for themselves.

    1) Out of spending cash – got assets, but awaiting more income before any spending can resume. That’s not too bad – it just shows lack of foresight or bad luck.

    2) Broke even – got some assets, but owe the same amount – income is about the same as expenditures expected. There are lots like this – they need to buckle down, but will probably be OK.

    3) Flat broke – can’t borrow anymore due to bad payment history, even to friends and family – not enough income to pay expenditures or even on this.

    4) Broke like the US Feral Government – borrowing 1/3 of the money for the $4,000,000,000,000 budget each year, as only 2/3 can be collected via personal income/corporate income/excise/etc. taxes (just look near the back of the IRS 1040 instructions – they’re not hiding this stuff). Total debt of $20,000,000,000,000 is 5 X the budget each year and 6-7 X the income collected yearly. It is > 100 % of the total GDP. There is no coming out of this hole without financial pain for almost everyone but those with a Challenger or other large/medium-cabin business jet with precious metals stashed on an island or S. American/Oriental country with a runway on your compound with armed guards.

    Just raise taxes? Fuck you too.

    • Replies: @Anonymous
  32. @Anonymous

    Do you realize that $4 Trillion means roughly $200,000 is owed by each actual (not just filing forms) taxpaying family? What do you propose to raise taxes to?

    More on the Feral Gov’t portion of the Global Financial Stupidity going on in Part 2, Part 3, Part 4 , and Part 5.

    Do you understand why interest rates are too low for Granny to make more than $350 a month on that half-a-million dollars her late husband had sweated his whole life to save up? The interest rates are held down to under 1% on anything but risky investments, so that the federal interest payments are kept 5-6 % of the budget (again look at the pie charts on the 1040 book – if I were at a different computer, I’d paste that in for you). If the rates were let, by the FED, to rise to normal rates – the time value of money – then the interest payments on the $20 Trillion, in the form of Treasury bond interest rates, would rise to something like 1/4 to 1/3 of the whole budget. Keep in mind, 1/3 of the budget expenditures must be covered by NEW BORROWING! Not good, man, not good.

    • Replies: @jacques sheete
  33. SteveM says:
    @Thomm

    Sure, some officers are corrupt

    “some”? Har-Dee-Har-Har. What percentage of people who separate from the military claim a “service related disability”? With that designation they not only get the retirement benefit bump but also set-asides for government jobs and contracts as well. Based on the number of service related disability claims by veterans, the United States must have the most physically fragile fighting force on the planet.

    And in this age of stupid perpetual wars, every “disabled veteran” is assumed have been shot up in the Middle East when if fact it’s more likely they tripped on the steps on the way back from lunch at Fort Leavenworth. That erroneous assumption of a combat related disability is great for milking benefits from a sympathetic public.

    And there’s more. Sleep apnea claims as a service related disability by veterans have exploded. Same with PTSD.

    https://www.veteranslawblog.org/sleep-apnea-va-disability-rating/

    https://www.disabilitysecrets.com/resources/disability/veterans-disability/make-ptsd-claim-va.htm

    The web is saturated with advice on how to game the military disability system.

    A vet I knew laughed as he told me he got a disability award for his knee. Only that injury came from playing too much basketball at his U.S. base. Another “disabled veteran” I know does Cross Fit to stay in shape. His most dangerous deployment was to southern Europe where he met his wife. And yes, he advertises his disability on his business web site and does qualify for government contract set-asides.

    Too bad for the taxpayers though. Since the military has been sanctified by the powerful Pentagon/MSM “Warrior-Hero” propaganda engine, challenging out of control military benefits is a political and social third rail.

    • Replies: @ANON
  34. I don’t have a problem with 4% of GDP, but I have a big problem with what we’re getting for our money.

    A quarter million for a four-star general is fine, if the general is any good (almost none of them are by design). In theory a general is equivalent to a division manager in a Fortune 500 company, but COs in the US military have amazingly little power. They’re not even free to hire and fire their own subordinates in most cases. So our senior officers are really paid generously to pretend they are great military commanders.

    The average SAT score at West Point is only 1340 these days. Prior to the Vietnam War I believe West Point was academically competitive with Ivy League schools, or at least that’s what Class of ’68 veteran John T. Reed states.

    The Naval Academy is 1322 and the Air Force Academy is 1370.

    These aren’t bad scores, but clearly these officers aren’t elite academically.

    The enlisted personnel seem adequate in quality thanks to the AFQT, other than women of course. They’re overpaid compared to what is available for them in the private sector.

    The pension system, in addition to being overly generous, has perverse incentives. As any service-member approaches that magical 20 year mark, any kind of independent thinking must disappear (which the military already does so much to eliminate). Want your fat pension? Better shut up and emulate your COs in every way possible. It should just be replaced with a Thrift Savings Plan (gov’t equivalent of a 401k).

    One sixth of the force consists of women. Every last one of them subtracts from the efficacy of the military.

    One sixth of personnel are officers, which is far too many officers.

    Then you have all the unnecessary EO officers, JAGs, and other political commissars.

    I don’t have an issue with the various recreational perks in the armed forces as they contribute to espirit de corps. The private sector could use more of this, honestly.

    The GI Bill is also politically objectionable as we should not be giving money to The Enemy (colleges in this case).

    • Replies: @Thomm
  35. This is the price a mercantile republic pays for an all volunteer fighting force.

    When you have less than 5% of the population serving in the military and commitments all over the globe, then you need to be prepared to pay for those professional services (yes, the military is a profession like any other).

    If you’re prepared to go back to a draft force, then we can start talking about changes to the pay and benefit system.

    Personally, I think service of some kind, be it military or community, ought to be a requirement to vote. Service guarantees citizenship.

    • Replies: @The Scalpel
  36. 36 ulster says:
    @Dan Hayes

    One can admire Mr. Cohen’s efforts to give us some perspective and–yes–sanity on the debate over Russia, and still view a Sovietist rag like THE NATION with contempt. It would seem that he is related to TN only by marriage. (Tip: Cohen usually appears for interviews on Tuesdays on THE JOHN BATCHELOR SHOW ( WABC 770AM) at 10pm EST. Always informative.)

    • Replies: @Dan Hayes
  37. Calling geokat, U.R. Research Specialist A-1!

    Hi geo,

    Maybe you can help me on the following ancillary matter?

    F.y.i., Mighty John Bolton passed on an opportunity to fight LBJ’s atrocious war against communism, in Vietnam.

    As PreZident Trump’s present Iranophobe-warmongering N.S.A. Adviser, I tried (but failed) to determine how much pay & “bennies” Bolton now gets from the bottomless Executive Branch feeding trough.

    Can you help me here, geo?

    • Replies: @geokat62
  38. @Dan Hayes

    AGEED

    I have never read The Nation nor will I, I’m pretty sure. Even so, when you’re right you’re right. I disagree with Thomm on comment #1. As for the author, Mr. Giraldi, I suppose he could have stuck in “The Nation, that cntrl-left rag, even rightly stated … blah, blah…”, if it makes us feel better (yes, it might ;-}

  39. ANON[285] • Disclaimer says:
    @SteveM

    Same scam, different tactics.

    40 years ago we lived in Annapolis, MD in the lowest tier of a then – New housing development concept.

    Our cramped townhouses were on the scrabble outer ring.

    The most lavish houses were in the inner-ring, on a divided boulevard, extensively landscaped and maintained. At least 3/4 of those homes were owned by “Double-Dippers”– military retirees collecting military retirement pay while employed as civil servants in Federal gov, with defense contractor consulting on the side.

    “Thank you for your service,”– in cash, if you please.

  40. JustJeff says:
    @Thomm

    That’s some top-notch boomerposting 10/10

    • LOL: Thorfinnsson
  41. Mr. Anon says:
    @Thomm

    Wait, so this is a lefty Democrat blog now, where The Nation is cited favorably?

    So which wars did Petraeus win?

    Our men in uniform, particularly the grunts, make sacrifices that the others don’t make.

    Yeah, they have to wear a uniform and get up at 5:00 a.m. So do a lot of plumbers. Most people in the military are not in any more danger from violence than any number of civilians. Being a pizza deliveryman is probably more dangerous than most every military MOS.

    But then why would you know anymore about this topic than about anything else you spout off on?

    • Replies: @Thomm
    , @ChuckOrloski
  42. The Scalpel says: • Website
    @LTDanKaffey

    I do not mind community service, but I object to military service and I do not want to vote. Voting gives legitimacy to a system that I oppose. I was born in the geographical area now ruled by the government of the United States of America. Perhaps, LT Dan, you would be in favor of a status such as non-citizen resident. I was born in this area by a quirk of fate, not any choice on my part. I do not usually agree with US government policy, nor do I want the US government to represent me or “protect” me. It would be just for me to pay less taxes since I do not desire and would gladly refuse most of the “services” the government provides, especially those noted in the above article.

    • Agree: jacques sheete
    • Replies: @LTDanKaffey
    , @myself
  43. Thomm says:
    @Mr. Anon

    er… because I know about a lot of subjects, and you are just a wigger Buttfuckaroni with a 70 IQ?

    • Replies: @Mr. Anon
  44. Neither me, my father, my grandfather, nor my great grandmother served in the US Military, but one of the large defense contractors put bread on the table for four generations of my family. My 90-year old grandmother is still collecting my grandfather’s pension from that firm and he’s been dead for 30 years!

  45. Thomm says:
    @Thorfinnsson

    One sixth of the force consists of women. Every last one of them subtracts from the efficacy of the military.

    Now this is true. Any country that engages in this sort of fiction is one where no men in their right minds should join the military.

    • Replies: @Achmed E. Newman
  46. @Anonymous

    US is rich and the debt is high. Both can be true at the same time. But taxes are relatively low so if there is a government debt crisis paying down the debt would just involve raising taxes. Just look at GDP per capita US which is very high up there so I don’t see how anyone can argue the US is not a very rich country.

    Despite many problems, the US has many advantages like half the world’s Ashkenazim who are very good at creating unbeatable new companies….etc., etc., etc….

    Thanks for the laughs. You must be of the Maven-Krugman school of debt. You’re all wrong, and it’s obviously beyond your understanding that though you can fool almost all of the goyim almost all of the time, you can’t fool all of us all the time.

    However, please do keep trying!

    • Replies: @Anonymous
  47. @Achmed E. Newman

    AEN, thank you for your fine input, but I suspect you’re throwing pearls to swine who don’t even want to understand.

    Even worse, when they claim that debt is good, they conveniently leave out the part about who it’s good for.

    We dumb goyim have repeatedly proven ourselves to be pretty easy marks, but some of us have a clue as to who’s paying for it all, and its good to know that a few know who that would be, so thanks again.

  48. @Verymuchalive

    The only thing preventing complete bankruptcy is that the Dollar is the World’s Reserve Currency- for now.

    Yup.

    And “The Gweatist Generation” fought WW2 to defend worldwide freedom. I guess they forgot about the Bretton-Woods party.

    We been had, I think.

  49. RVBlake says:
    @Tom Welsh

    That was a jolting eye-catcher. So this general still receives a six-figure pension check!? I’ve often marveled at the moral fiber exhibited by these gilded peacocks, who, when faced with supporting criminal actions by their government, such as invading countries who’ve done us no harm, click their heels and proceed. Instead of taking an instant retirement, knowing their pensions are secure.

  50. @Thomm

    AGREED

    They’ll find out how well a social-experiment disguised as a military force works in a real war with a country that American can’t bully around.

  51. bjondo says:
    @Dan Hayes

    I’ve read Cohen is a Russia expert and gives sensible analysis regarding events there. Don’t know his views on holocaust, Occupied Palestine.

    His wife, Katrina vanden Heuvel, is part owner, publisher, editor of THE NATION.

    • Replies: @Dan Hayes
    , @Anon
  52. @The Scalpel

    Absolutely in favor of a non-resident citizen.

    You would still be required to pay some kind of lease or tax for the land which you occupy, but would otherwise be left alone. You would also be subject to the criminal laws of the jurisdiction you occupied. You would also pay taxes for any consumption that requires use of infrastructure or interstate commerce.

    The United States is large enough that such an arrangement is still possible.

    • Agree: The Scalpel
    • Replies: @Hibernian
  53. bjondo says:
    @Anonymous

    Over 50% of the discretionary budget. Like $$ going to the toxic Yid landfill, we don’t know actual amounts.

  54. @Anonymous

    “…US spends 4% of GDP on the military versus 2% in China, France, UK. That’s high but considering how rich the US is, not unbearable. Weak article…”
    ————————————————————-
    Every productive dollar that’s ever existed has been flushed down the MIC rathole. The whole “budget “is an elaborate ruse to conceal the chains that bind you.
    10’s of trillions disappear with gleeful approval on a regular basis.

    You sound like a typical brainwashed SHYSTER.

  55. anonymous[340] • Disclaimer says:

    You guys are two of my favorites.

    But 405’s second paragraph made it seem clear to me that he was trolling.

  56. ohmy says: • Website

    Mr. Girard, buon giorno. You must be my elder. In ’68 I was paid $96 plus $26 combat pay while in Nam.
    Yea, things are out of control. Unfortunately, the store clerk you ran into the other day is representative of how the majority of “we the people” think. Hence, don’t expect change anytime soon.
    I have been a fan of yours for sometime now. Mostly at NEO, sometimes art Rense. I recently began accessing UNZ and was pleased to see your name in the list of contributors. Sadly I don’t predict improvement in the majorities attitude. But, you do fine work, dom’t quit just yet. As long as we can keep the internet affordable reality may trickle down. I believe the net is the reason the “fake news” moniker had to be. Sort if like “conspiracy theory”. Same party owns both copyrights.
    Keep your head up.
    Joseph

  57. @Backwoods Bob

    Foreign entanglements, searching for monsters to destroy, acting as the world police – this is the main problem.

    Yooge problems for sure, but playing Sugar Daddy to Izzie-land is the biggest one of all in terms of dollars as well as moral capital, and it probably dwarfs welfare subsidies to “defense” corporations.

  58. Military spending has one virtue, it is constitutional as it fulfills one duty of the FedGov, one it has often shirked, defend the country.

    Giraldi can whine all he likes, but the DOD is not an entitlement program, nor does the Pentagon get all it wants. It never has gotten all it wants, no matter how much Giraldi whines to the contrary.

  59. @TheBoom

    “Agree” button on hold for now, and I have nothing to add.

  60. bjondo says:
    @Anonymous

    Love the Wall St innovations and Fed innovations and reasons to go to warssss. Broke the economy while stealing trillions. Did similar to Russia.

    God bless the Yids.

  61. The Scalpel says: • Website
    @Tom Welsh

    Wait a minute! Were you really under the impression that things are fair?

  62. Respect says:
    @Tbbh

    Tbbh

    Your friends sell so many motorcycles because of the hot San Antonio temperatures , which are very good for riding motorcycles , man …..

    Nothing to do with the US military bases in San Antonio : Lackland , Brooks ,Kelly , Randolph , Sam Houston , Camp Bullis …..

    And , of course , there are so many military bases in San Antonio because of the ” mexican threat ” , don`t you think so ?

    • Replies: @RadicalCenter
  63. When I joined the U.S. Army in 1965 my starting pay was slightly less than 100 dollars per month. Soldiers then were said to be “in the service”. Today they are “in the military”. Later in life I realized that I had been “in the service” of evil. Still later I learned that the love of money is the root of evil.

    The American Dollar Dies in New York – a Satire from Uganda:

    https://russia-insider.com/en/american-dollar-dies-new-york-satire-uganda/ri23421

    • Replies: @Thorfinnsson
  64. ohmy says: • Website
    @Verymuchalive

    JS, Since Rumsfeld admitted, the day before 911 when he helped murder 30 forensic accountants plus a handful of Naval Investigators, you are 1 of the few I ever heard mention the stolen money. Since the Clinton administration up to 2016 the number is now $21 $Trillions, from just 2 departments.
    Check out Catherine Fitts @ solari.com

    • Replies: @Mike P
    , @jacques sheete
  65. JackOH says:
    @Backwoods Bob

    BB, I personally know a couple who are around seventy, very healthy and active, who have parlayed multiple pension-qualifying careers between them in the armed forces, postal service, teaching, and county government, into astounding lifestyles. Harley motorcycle, Winnebago, big house, weekend cottage, cruises, the whole shebang.

    They’re very nice people, part of the local Puerto Rican ascendancy, first generation descendants of the Puerto Ricans recruited by the now defunct local steel mills back in the 1950s.

    I’m sure it can be said they worked for what they got, but, still . . . you gotta wonder what’s going on.

    • Replies: @jacques sheete
  66. Anon[355] • Disclaimer says:

    These ‘hero’ armed missionaries also get preferential treatment in state/government hiring.

  67. SteveM says:
    @Quartermaster

    Military spending has one virtue, it is constitutional as it fulfills one duty of the FedGov, one it has often shirked, defend the country.

    Giraldi can whine all he likes, but the DOD is not an entitlement program, nor does the Pentagon get all it wants. It never has gotten all it wants, no matter how much Giraldi whines to the contrary.

    I’ve never seen such a warped and delusional understanding of the voracious, insatiable, wasteful and corrupt National Security State presented so succinctly…

    P.S. I have a feeling that War Machine accounts have written Quatermaster a lot of checks over the years. I.e., he knows what side his bread is buttered on.

    • Replies: @RadicalCenter
  68. ohmy says: • Website
    @anon

    anon, tell it like it is. Everyone should also know the debt servce cost to our budget is the interest Americans pay. What’s 2% of 20 trillions? 40 billions? IDK l, but it’s alot. Well that’s the federal reserve *a private corp.) income estimate for the yeat, which the share holders, all 6 of them, pay no income tax.

  69. @WorkingClass

    Still later I learned that the love of money is the root of evil.

    No wonder you’re…WorkingClass. :)

  70. @Mr. Anon

    Writing objectively, Mr. Anon noted: “Being a pizza deliveryman is probably more dangerous than most every military MOS.”

    Hi Mr. Anon,

    Thanks for your satiric-service including recognition of often brave pizza deliverymen!

    I have a true work experience to share.

    In late-Autumn, 2001, as a dual-Business Manager & Emergency Spill Response Supervisor for Pa. E.M.A. Haz-Mat Certified Teem Environmental, Inc., one afternoon, the excitable company-owner called a mandatory meeting for all personnel.

    Addressing supervisors & (very skilled) Field Technicians, the rather timid owner ordered, “Starting today & through the weekend, TEEM is contracted to perform potential sarin gas terror attack responses within NYC subways & tunnels!
    So everybody better keep their pagers on when you go home & be immediately prepared to respond to sarin gas attacks!”

    A dear friend & late-coworker, Warren Hill, became uncomfortable with the assignment and sensibly spoke up, “Uh, what the fuck? Do we get extra military pay for dealing with the crazy Taliban while we ain’t armed with nothin’ but V.O.C. & Hnu meters, Personal Protection Equipment?”

    Unused to having to deal with reasonable employee-challenges, the TEEM owner lost it, screamed, What’s wrong with you, Warren?!! Can’t you read the advertisement painted on our E.R.V., “TEEM Environmental responds to all incidents involving US D.O.T. Hazardous Materials! Get on the ball, would ‘ya, Warren!”

    Upon reflection, I stuck neck-out, came to Warren’s aid, and opined, “But the Haz-Mat customers who have signed our company ‘Emergency Spill Response Agreements’ are not known to pose secondary-life threatening hazards after initial accidental discharges happened.”

    “Bah…, Just keep your pager on, Chuck!” replied our civilian Commander Stassi.

    P.S.: For anyone interested, attached below is my “wordy” 2015 article that delivers an example of how civilian private-company employees fought in the War Against (White Powder) Anthrax terror threats.
    Cases where the “perp(S)” never caught, an open case, and to this day, I suppose either Federal or State governments cut lots-of-checks, payable to private Emergency Spill Response companie$, for their services.

    https://www.countercurrents.org/orloski250415.htm

    • LOL: Mike P
  71. Mike P says:
    @ohmy

    Since the Clinton administration up to 2016 the number is now $21 $Trillions, from just 2 departments.

    Can you explain to me how that even works, technically? E.g. the DoD is supposed to have “stolen” a lot more money than its entire regular budget – how could they even lay their hands on such sums? What accounts did that money sit in before it was siphoned off, without anyone noticing?

    • Replies: @jacques sheete
  72. @Tom Welsh

    The US military are the equivalent of the Roman Empire’s honestiores, or upper classes. As well as the benefits accruing from service, they had special legal treatment, like being exempt from judicial torture. So Arthur Lichte merely gets part of his pension docked for raping a woman. Nothing to see here , mate, move along. Even someone like Chelsea ( ” They call her Natasha, but she looks like Elsie” ) Manning spends a mere 7 years in prison and gets the Defence Department to pay for “gender reassignment”.
    The point about judicial torture is important as America has recently revived the practice. Would Assange be waterboarded if they got hold of him ? Would he have met a fatal “accident” in custody?
    Who knows ? But don’t you even think about doing that to an American serviceman, even one as degenerate as Manning.

    • Replies: @Rod1963
  73. Jeff77450 says:

    I wish pay & benefits had been “out of control” when I was in the army in the 1970s.

  74. Anonymous[862] • Disclaimer says:
    @jacques sheete

    That wasn’t a response. It was just name calling. So if you aren’t convinced by my rebuttal it’s certainly not because you had more intelligent analysis.

    • Replies: @jacques sheete
  75. The Scalpel says: • Website
    @Quartermaster

    “DOD is not an entitlement program, nor does the Pentagon get all it wants. It never has gotten all it wants…”

    Just like the fat kid in Willie Wonka’s Chocolate Factory

  76. Anonymous[862] • Disclaimer says:
    @Achmed E. Newman

    You use a lot of figures but not the appropriate statistics. What do big aggregate numbers like 200k in debt per family really mean?

    I look at the percentage of tax revenue v. GDP compared to other first world countries. US is actually on the low side by this measure. That means it’s possible to raise taxes and only moderately harm the economic growth engine. And no one has addressed the advantages the US economy has in particular having half of the world’s Ashkenazim.

    • Replies: @Achmed E. Newman
  77. Anonymous[862] • Disclaimer says:
    @Verymuchalive

    China has been reducing its holdings in US treasuries. What negative effect has this had so far on the US?

  78. @ohmy

    Rumsfeld admitted, the day before 911 when he helped murder 30 forensic accountants plus a handful of Naval Investigators,

    Thanks, it’s nice to know that there are others who are wide awake. Trouble is, even those who have a clue can’t even imagine the .0001% of it, I’m sure.

    • Replies: @ChuckOrloski
  79. @Mike P

    What accounts did that money sit in before it was siphoned off, without anyone noticing?

    We’ll probably never know. The system is not exactly designed for transparency, and besides, guess where the missile, errr, “plane” hit the Penta-graft?

    Wouldn’t it be fun to ask Rummy the Smirking Dummy that question?

    I bet this swinish character could provide a bit of insight with a little Nuernberg or Abu Ghraib style info gathering as well, and here’s a partial rap sheet…

    Dov S. Zakheim was sworn in as the Under Secretary of Defense (Comptroller) and Chief Financial Officer for the Department of Defense on May 4, 2001. Dr. Zakheim has previously served in a number of key positions in government and private business. Most recently, he was corporate vice president of System Planning Corp., a technology, research and analysis firm based in Arlington, Va. He also served as chief executive officer of SPC International Corp., a subsidiary specializing in political, military and economic consulting. During the 2000 presidential campaign, he served as a senior foreign policy advisor to then-Governor Bush.

    From 1985 until March 1987, Dr. Zakheim was Deputy Under Secretary of Defense for Planning and Resources in the Office of the Under Secretary of Defense (Policy). In that capacity, he played an active role in the Department’s system acquisition and strategic planning processes. Dr. Zakheim held a variety of other DoD posts from 1981 to 1985. Earlier, he was employed by the National Security and International Affairs Division of the Congressional Budget Office.

    Dr. Zakheim has been a participant on a number of government, corporate, non-profit and charitable boards.

    http://www.jewishvirtuallibrary.org/jsource/biography/Zakheim.html

  80. The United States military is a giant jobs program, Giraldi!

    So what of it! Who cares. Conjure up those dollars out of thin air and let the troops have some loot.

    Did the Founding Fathers warn us about large standing armies in their writings and actions? Yes.

    Did the Founding Fathers know that a large standing army would require a concentrated form of governmental power to collect the loot to pay for that army? Yes.

    Did we just pass the 800 year anniversary of the Magna Carta? Yes. Was the Magna Carta about standing armies and concentrated government power, among other things?

    Were the Founding Fathers somewhat ungrateful to the British Empire for its efforts in the French and Indian War? Yes.

    Would the Founding Fathers be surprised to find a Jew billionaire named Shelly Adelson controlling the use of the US military in the Middle East and West Asia? The cynical and smart ones wouldn’t be surprised at all.

    The GOP has the War budget and the US military and the Democrats have the public schools and many other government workers. The GOP always promises to spend more loot on the War budget and the US military and the Democrats always promise to spend more money on the public schools and other government programs.

    Giraldi has written a CLUNKER of a blog post, folks!

    Giraldi should write about mass immigration, monetary extremism and the impossibility of paying for the retirement of the baby boomers.

    Mass Immigration: DEMOGRAPHY

    Monetary Policy: DEBT

    Baby Boomers: NATION WRECKERS

    The American Empire is soon to go belly up in a manner similar to the upcoming demise of treasonous rat John McCain.

    The WASP /JEW ruling class of the American Empire knows this. A pleasant consolation is that China, Japan and Europe are just as badly bankrupt as the American Empire is.

    Raise the federal funds rate to 10 percent and implode the American Empire. Young people must no longer be saddled with massive unpayable debt and the unpayable retirement of the baby boomers. Pull the plug on the baby boomers now, and let the young people have a future.

    The Chinese, Japanese and Europeans will implode also. Use the nuclear deterrent and offshore balancing to keep global peace.

    • Replies: @Curmudgeon
  81. @Thorfinnsson

    No wonder you’re…WorkingClass.

    Oh,looky! Now you have another goy to sneer at!

  82. @Thorfinnsson

    I don’t get it Thor. But I take no offense as I can see your smile.
    Did you try my link?

  83. @Anonymous

    That wasn’t a response. It was just name calling. So if you aren’t convinced by my rebuttal it’s certainly not because you had more intelligent analysis.

    What makes you think your comment deserves a respectable or intelligent response? Anyway I wasn’t aware that this site existed to host intelligence contests, but knock yerself out.

    • Replies: @Anonymous
  84. @Quartermaster

    Giraldi can whine all he likes, but the DOD is not an entitlement program, nor does the Pentagon get all it wants.

    If it isn’t an entitlement program, then what would one look like? Do you know the meaning of “sinecure?”

    You can whine about Giraldi all you want but he’s right and yer wrong, and thank G-d that the Pantygon doesn’t get all it wants. Can you explain whether it should and why?

    PS: Read the comments regarding disabilities and retirement bennies and then get back to us.

  85. @JackOH

    I’m sure it can be said they worked for what they got, but, still . . . you gotta wonder what’s going on.

    It’s not called working, it’s called “milking,” but still they’re pikers compared to the arms merchants, bankers and permanent “victim” crowd.

    • Replies: @JackOH
  86. Rod1963 says:
    @Anon

    You really don’t want affirmative action nurses looking after anymore than those Bombay specials that the VA hires as doctors. It’s not a perk, it’s just free.

    The VA is a train wreck because of these people. No one wants to say squat because you have to point a finger at all the AA hires and that would get you labeled as a racist.

    And oh they are paid, very, very well. The average RN makes over a $100k at the VA. I know private sector nurses who went to work for the VA because of the pay and bennies. Plus you can’t get fired.

  87. @Anonymous

    China has been reducing its holdings in US treasuries. What negative effect has this had so far on the US?

    US and China kick off talks to avoid a trade war

    http://money.cnn.com/2018/05/03/news/economy/china-us-trade-talks-beijing-start/index.html

    Just a minor coincidence, I’m sure, but stay tuned.

    • Replies: @Anonymous
  88. Rod1963 says:
    @Verymuchalive

    You do realize that “waterboarding” is part and parcel of SERE school in the military and has been for a very long time. It’s where the Pentagon/CIA got idea of applying to a bunch of sand monkeys.

    Anyone who is special ops gets waterboarded so are fighter pilots and the like. The MSM always neglects this fact.

    • Replies: @Charles Pewitt
  89. Dov Zakheim is a nasty Neo-Conservative Jew rat, that is widely known. Zakheim was one of the Neo-Conservative rats who helped to drag the US military into the Iraq War debacle. Seems Neo-Conservative rat boy Dov Zakheim also made himself a wealthy rat through his connections to the WASP / JEW ruling class of the American Empire.

    But,

    Let’s not forget nasty Neo-Conservative Jew rat Michael Chertoff and his pal General Michael Hayden.

    Baby boomers Chertoff and Hayden have made out like bandits from their involvement in the Deep State of the American Empire.

    I say the baby boomers are an evil generation of nation wreckers.

    Tweets from 2015:

  90. Dan Hayes says:
    @36 ulster

    36 ulster:

    I too listen to the Batchelor radio show and his informative Cohen interviews. Many times Cohen has thanked Batchelor for offering him one of his few public venues.

    I like Batchelor despite the fact that many other times he presents or is comfortable with a hard Neocon line. I’ve often wondered if this has anything to do with his Persian background.

  91. @Anonymous

    China still has $1.3 trillion in US Treasuries. Reduction as of now has been very slight, so any effect has been very slight.
    When dumping does occur, the effect on the US dollar will be very obvious.

    • Replies: @Thorfinnsson
  92. @DanFromCt

    Well, that’s well written.

    Bravo!

  93. Dan Hayes says:
    @bjondo

    bjondo:

    I get the impression that Cohen tries to stay clear of anything outside his expertise, Russian history and geopolitics.

    Several times I’ve heard him fondly reminisce about being raised in Kentucky. So he may not be a complete Upper West Side liberal.

  94. anon[217] • Disclaimer says:

    At least half of our military bills should be sent to Israel. Practically all of our wars these days are on their behalf. The other half should be paid by a war tax. All those who support going to “necessary” wars overseas for “humanitarian” reasons or other will pay into this tax, starting with the neocons and the media (not just mainstream liberal media but many right wing neocon mouthpieces like National Review, Breitbart, DailyCaller).

    Last but not least, any elected official who votes for or calls for war with any nation, from Trump to Pence, Nikki Haley, John McCain, John Bolton, Mike Pompeo et al. should fork out 100% of their salaries to pay for the war until it ends.

    • Agree: Charles Pewitt
  95. Anonymous[862] • Disclaimer says:
    @jacques sheete

    If you want to prove your point, then come up with a better rebuttal. If you just want to be a dumbass that’s fine too.

  96. Anonymous[862] • Disclaimer says:
    @jacques sheete

    What evidence is there that the trade discussion is based on China reducing treasury holdings rather than counter-tariffs on US agricultural goods and potentially in a number of other areas like education services (blocking Chinese families from sending kids to lower ranked US colleges)?

    • Replies: @jacques sheete
  97. Realist says:

    America’s Republican politicians complain that “entitlements,” by which they mean pensions and medical care, are leading the country to bankruptcy even as they fatten the spending on the Pentagon, which now takes 12 percent of the overall budget.

    The US military budget should be $100 billion….do what you can.

    • Replies: @ChuckOrloski
  98. L.K says:
    @Anonymous

    “Despite many problems, the US has many advantages like half the world’s Ashkenazim who are very good at creating unbeatable new companies. Just look at how the half the 40 riches entrepreneurs under 40 in the US according to Forbes are Jewish. Jews are producing so much innovation in the US that it offsets a lot of the problems like military spending at 4% of GDP and less productive sub-populations.”

    buhahHAHAHAHAHA….

    another comedian, thanks for the laughs!

  99. @Rod1963

    I’m sure the Roman Empire had some version of waterboarding. The American Empire used it on the wogs.

    • Replies: @Verymuchalive
  100. Anon[285] • Disclaimer says:
    @bjondo

    Cohen is a true believer in holocaustism.

    Don’t know his views on Palestine.

    He can hate on Iran with the best of ‘em.

    Cohen’s stock in trade is expertise re Russia.

    His greatest recommendation is that he is NOT Susan Glasser.

  101. @Verymuchalive

    Average daily volume in the Treasury market is $500 billion, and the Federal Reserve System is authorized to create unlimited quantities of currency to purchase Treasuries (and other gov’t securities) in any case.

    This isn’t the financial weapon of mass destruction people think it is.

    The Chinese themselves know this, which is why they stopped adding to their position and have gradually reduced it.

    A more effective strategy would be to focus financial firepower where the Federal Reserve isn’t authorized to operate, such as the commercial paper market. Probably Congress itself would then act, but if you can buy enough seats for hard money dweebs you might be able to cause serious trouble.

    http://pages.stern.nyu.edu/~sternfin/mkacperc/public_html/commercial.pdf

  102. Sparkon says:

    I’m sure the Roman Empire had some version of waterboarding.

    The Roman Army’s form of punishment was known as decimation, a word now commonly used by semi-literates to torture knowledgeable historians, philologists, and wordsmiths, including not a few Baby Boomers, who apparently know a lot more than you, and who also are smart enough to blame the guilty — and not an entire generation — for the misdeeds or evil gains of a relatively few assholes.

    But I know subtle nuance like that must be difficult to understand for those who can paint — or splatter — only with a very broad brush.

  103. @Realist

    As if remotely possible to do so, Realist recommended:
    “The US military budget should be $100 billion….do what you can.”

    Hi (Sur)Realist,

    A question.

    Above, who would meaningfully tell that to the ZUS Defense Department, Joint Chiefs of Staff, & the military contractors?

    Sheldon Adelson? Netanyahu?

    Take heart! I trust Peter Aus will appear & bring your do-gooder passion into practical reality. Thanks, nevertheless!

    • Replies: @Realist
  104. @Charles Pewitt

    You make my point for me.
    As I said, Judicial Torture was used on humiliores, and , indeed, in European Inquisitorial Systems until the late C18th and early C19th.

  105. @Anonymous

    A person or entity whose liabilities outweigh its assets, is not rich.

    This is more true when the entity, like the US Fed Gov, has vastly more liabilities than physical assets, let alone readily marketable assets.

    The fed gov has promised to pay more each year than it has recently taken in as revenue, and more than it has any realistic hope of generating anytime soon.

    The fed gov is in hock more than 20 trillion in the books right now, and over 100 trillion projected forward.

    Yeah the fed gov is rich.

    Looking at average and median private-household net worth will not make the picture much rosier.

    Stop lying or learn math.

    • Replies: @Thorfinnsson
  106. @Backwoods Bob

    Commissaries, gyms, and hair salons on bases in the USA must end.

    Pay the soldiers well, but have them live and try to get by in the same economy and world as their employers — WE THE TAXPAYERS.

    Also, require soldiers to live off base and pay their own housing (boosting their cash pay accordingly) OR start counting their housing as taxable income as it would be for the rest of us mere TAXPAYERS.

  107. Evil baby boomers in Europe, England and the United States have been protected by the monetary extremism of the European Central Bank, the Bank of England and the Federal Reserve Bank.

    It is now time to financially liquidate the evil baby boomer generation. If the Federal Reserve Bank raised the federal funds rate to 10 percent, and the ECB and BoE raised interest rates similarly, the baby boomers in the USA, England and most of Europe would be financially busted. The baby boomers have been the generation that benefited the most from the monetary extremism of the last few decades, and especially since 2008.

    The federal funds rate went over 20 percent in 1981, 10 percent now would wipe out the asset bubbles in stocks, bonds and real estate. Do it.

    The baby boomers are an evil generation of nation-wreckers. Bill Clinton and George W Bush are prime examples of evil globalizer baby boomers.

  108. Realist says:

    Above, who would meaningfully tell that to the ZUS Defense Department, Joint Chiefs of Staff, & the military contractors?

    A President with balls.

  109. @anon

    Tough shit that you don’t like his tone. We don’t like being systematically ripped off and told it’s patriotic.

    We should start either taxing the military employees’ housing allowance OR require them to buy their own housing off-base. I’d be fine with increasing cash salary to make up for it. Let’s get an honest number on what their salaries really are and then debate whether they get paid enough.

    And by all means let’s reform and reduce officer pensions. End this last-three-years calculation and require more than 20 years “service” to get half or more of one’s salary as pension. They are desk jobs and they can and should work at least, say, THIRTY years before being able to retire st that level of pension and work elsewhere.

    Military is a wasteful fraudulent untrustworthy bureaucracy like any other in the fed gov — or worse because they get a free pass from a lot of people.

  110. @RadicalCenter

    The oil and gas resources alone owned by the federal government are worth some $200 trillion.

    Then there’s the fact that the taxing authority of the federal government makes any fiscal deficit a matter of choice to begin with.

  111. @jacques sheete

    Hi Jacques Sheete,

    Am fairly sure you know about Donald Rumsfeld early political career, including his special assignment as an ambitious congressman, & on behalf of the A.Z.C.

    If not, below I link ZUS Defense Secretary “Shit Happens” treasonous letter to Robert F. Kennedy.

    http://www.israellobby.org/AZCDOJ/congress/default.asp

    Be well, Jacques. Thanks!

  112. @Achmed E. Newman

    And we need Russian equipment to get into space these days, apparently.

    That would be troublesome even if Russia were an ally, as perhaps they should be.

    It’s worse when our gov chooses to slander, threaten, sanction, and encircle the country on whom we are relying.

    Imagine China refusing to sell us what we need AND Russia refusing to let us use or buy its space equipment.

    For that matter, there’s so much demand for oil and natural gas in India and China — likely to keep increasing, too — Russia eventually may be able to say “we will sell to anyone EXCEPT companies and facilities in the USA, and anyone caught reselling to the USA will join them on the blacklist.” If Iran and, say, Venezuela or Nigeria did the same, watch out.

    • Replies: @ChuckOrloski
  113. @Quartermaster

    Deliberate dishonest distraction. Whether the DOD got as much as it wanted, it gets much more than our actual defense requires, and the people on the gravy train know it.

  114. @Quartermaster

    The fact that defense is a specifically enumerated duty and power of the fed government, has nothing to do with the proper amount to spend on that function.

    Money spent attacking countries that are not attacking us here in the USA, are not preparing for imminent attack on us here in the USA, and are not aiding those who are attacking or preparing to imminently attack us here in the USA … is NOT part of that legitimate constitutional function.

    Same with money spent defending Israel or Saudi Arabia, helping the saudis kill Yemenis in Yemen, helping islamists or anyone else overthrow the gov of Syria, etc.

    Same with money spent defending (or controlling) Germany, France, South Korea, Japan, etc.

    Calling that “whining” is not an argument. It suggests that you lack an honest, logical argument on this issue.

    • Replies: @anarchyst
  115. @Respect

    The threat is the Mexicans we have allowed in, not any credible military threat from Mexico’s armed forces.

    Our military should be posted on the entire southern border with orders to kill all invaders who do not heed warnings to turn back. Add a minefield, barbed wire fencing where absent, and armed drones.

    • Replies: @ChuckOrloski
  116. @SteveM

    He’s a double-dipper with gov pensions. Double dipped in bullshit, apparently.

  117. J.Ross says: • Website
    @Anon

    The clothing allowance is for purchase, upkeep, and repair of uniforms. There is a bureaucratic mindset of having things clearly laid out which guarantees a lot of this spending, especially when the time preferences of new enlistees bears out the wisdom of having a specially set aside and clearly labeled clothing allowance. Many good critics with detailed grievamces skip over the governmental addiction to trying to solve reality with longer and longer rulebooks.

  118. @RadicalCenter

    Radical Center proposed: “Russia eventually may be able to say “we will sell to anyone EXCEPT companies and facilities in the USA, and anyone caught reselling to the USA will join them on the blacklist.”

    Hi Radical Center,

    Speaking with utmost respect for your typical sound-thought, have you ever approached the issue from the Globalist’s (ideal) “Radical Center” perspective where the planet’s economic & military Superpowers decide how crude oil & natural gas sale & distribution is done?

    A very serious “thanks,” R.C.!

  119. @RadicalCenter

    Radical Center opined: “Our military should be posted on the entire southern border with orders to kill all invaders who do not heed warnings to turn back.”

    Hi Radical Center,

    The biggest problem I have with the solution (above) is your having used, in error, the words, “Our military.”

    Were that the actual case, Jewish Lobbies, billionaire ZUS Jews, Congress, & PreZident Trump would be very pissed at Mr. Giraldi’s for provocatively having the gall to use the description, “American military” in his article title.

    Thanks again, Radical Center. By increment, you are getting there! So please simply consider dropping the word “Our”?

    Like one of the Maven Shama’s “old grey mares, “That ain’t what it used to be.”

    • Replies: @RadicalCenter
  120. anarchyst says:
    @Tom Welsh

    There are two standards…one for enlisted personnel and the other for officers. During the Grenada situation some enlisted personnel and officers were caught attempting to ship captured AK-47 rifles back to the states. The enlisted personnel got “hard time” in Leavenworth while the officers got “letters of reprimand”. Double standard, indeed.
    I might have made the military a career, but the disparities in both facilities and treatment of officers vs. enlisted was a real turn-off. I completed my enlistment honorably and returned to civilian life.
    It is my humble opinion (and personal observation) that the commissioned officer rank structure where there is concern for the enlisted troops ends with the rank of colonel. The general staff is more akin to political office than it is to serving in the military and taking care of their military subordinates.
    As to “pay and allowances”, when I was active duty (1969-1971) it was not much. In fact, at the time, those of us in uniform were looked down upon and blamed for the prosecution of the Vietnam conflict. Not only that, legislated job programs that were supposed to go to us Vietnam veterans never materialized.
    Yes, the all-volunteer forced made it necessary to increase “pay and allowances” to relatively attractive levels.
    If I had my way, I would bring back the draft with NO college deferments. In fact, the sons and daughters of politicians would get called up first. Service in the IDF doesn’t count.

    • Replies: @RadicalCenter
  121. anarchyst says:
    @RadicalCenter

    You are correct. The rest of the world that falls under the USA “defense umbrella” can afford extravagant social programs as they do not pay for their defense. In fact, WE are required to pay rent on foreign bases in which to place our troops.
    If I had my way, all foreign troop deployments would stop. Those countries requesting our “protection” would have to pay for it.
    Seems to me, that was one of President Trump’s campaign promises–making foreign countries pay for their defense.

    • Agree: RadicalCenter
    • Replies: @Mr. Anon
  122. Johnr says:

    You sir are an American hating leftist. The military, until the left decided it was the government’s job to provide cradel to grave care for everyone accounted for more than 75 percent of the federal budget. To complain that the military consumes 12 of the budget while Medicaid consumes 50 percent is a straw man. Having been an infantry man I can tell you that anyone who can do 20 or 30 years deserves a life long pension. Being a man is hard on the body.

  123. JackOH says:
    @jacques sheete

    He’s currently a court bailiff, a patronage job here, earning maybe in the low $30s. Plus, his 20-year Army pension, plus his 20+-year postal service pension. He’s a high school grad. His wife is fully retired with a 20-year Army pension, and a teacher’s pension with about 20 years in.

    I’ll take a wild guess their retirement income is no less than $100,000 a year in my very low-cost area.

    A go-figure sort of deal. Not just double-dipping. More than that, as you and other folks here have said. It’s a mentality, a mind-set. For some of the worst of those high-salary government folks, there are only three types of Americans: Bill Gates and other billionaires, government workers, and Americans who are too stupid to find a corporate or government milch cow.

    • Replies: @jacques sheete
  124. @ChuckOrloski

    You’re right, of course. These days I try to always write and say “the US government” rather than “OUR government.” I should have done the same with “US military.”

    • Replies: @ChuckOrloski
  125. @anarchyst

    Yes, but expand that.

    Mandate that we first enlist, train, and promptly deploy any children and grandchildren of all members of Congress, members of the President’s Cabinet, federal judges, Federal Reserve Board of Governors, and the CEOs/CFOs/CIOs etc. of military companies (including Northrup Grumman, Boeing, and their ilk).

    I’d support enacting such a requirement today.

    • Agree: anarchyst
    • Replies: @Chris Mallory
  126. @Johnr

    But they don’t have to do “20 to 30 years”, just 20, before that pension kicks in.

    Secondly, many people getting those military pensions — and going to other fed gov jobs in order to double-dip pensions — never see combat and aren’t even deployed to a zone where combat is reasonably likely.

    Third, Medicaid costs too much, but it doesn’t consume anywhere near 50% of the federal budget.

    I do see your point that if the fed gov stuck to its few, limited constitutional responsibilities, defense (and border security) would constitute a pretty large share of fed gov spending just because the fed gov isn’t supposed to be doing a thousand other things.

    Lastly, my brother-in-law is a retired Air Force FIGHTER PILOT who survived direct combat in Vietnam, and he heartily agreed when I sent him this column. Is he an America-hating leftist too?

    Similarly, both active and retired military “servicemembers” gave their donations and votes most to RON PAUL, who was very well known for constantly making similar points about military over-spending and adventurism and proposing large cuts to military and war spending. I guess those many, many soldiers are America-hating leftists too.

    It’s embarrassing that you need to insult patriotic Americans who simply think that “military” spending is unfair to taxpayers and well beyond what is needed for a strong DEFENSE (as opposed to being policeman or bully of the world).

    • Replies: @Achmed E. Newman
  127. @Quartermaster

    Military spending has one virtue, it is constitutional as it fulfills one duty of the FedGov

    And we could fulfill that duty by gutting the military budget, bringing all our troops home. Replace most of them with a Swiss style militia forbidden from every being deployed outside our borders.

    The Founders were against a standing army. It is a shame we have ignored their advice.

  128. @RadicalCenter

    Mandate that we first enlist, train, and promptly deploy any children and grandchildren of all members of Congress, members of the President’s Cabinet, federal judges, Federal Reserve Board of Governors, and the CEOs/CFOs/CIOs etc. of military companies (including Northrup Grumman, Boeing, and their ilk).

    Exactly, though I would add in nephews. No reason why George P should have been allowed to be a JAG officer instead of a Marine PFC in a rifle platoon.

    I thought the Bush twins would have been well served to work as nurse’s aides in a military burn ward.

    The Obama spawn were probably too young.

  129. @Johnr

    Why should anyone be allowed to live off the tax payers for 20-30 years then draw a cushy pension? A standing army is un-American.

  130. geokat62 says:
    @ChuckOrloski

    … how much pay & “bennies” Bolton now gets from the bottomless Executive Branch feeding trough.

    Hey, Chuck. Not sure about benefits, but based on this latest press release, I would infer that John Bolthead pulls in at least $180k:

    White House releases salary info for Trump’s aides… nearly two dozen aides all earn an annual salary of roughly $180,000.

    https://www.politico.com/story/2017/06/30/trump-white-house-salaries-240149

    • Replies: @ChuckOrloski
  131. @RadicalCenter

    Radical Center reflected to a barricaded extent & wrote: “I should have done the same with “US military.”

    Hi Radical Center,

    Doubtless, as Orwell taught, the proper choice of official government-affiliated “names” is very important for either forthrightly conveying or distorting political realities, truth.

    Above, it ain’t “US military.” That name is retro but still useful for the purpose of dumb goyim-population DECEPTION.

    It is the Zionized US military.

    F.y.i., many Moons ago, Philip Giraldi wrote an outstanding U.R. article about this dreaded mutation.

    Now I see where this article’s comment-thread descends, and I will respectfully move onto Marcos Cicero’s (new) Zizzling U.R. article.

    Have an aggressive day, Radical Center! Thanks.

  132. @Johnr

    You sir are an American hating leftist.

    The Empire is not your friend. Ever notice how every time it breaks another country, “refugees” from there and elsewhere get dumped on small towns in America? Ever notice how the officer corps blindly marches along with leftist social engineering rather resigning en masse?

    The military, until the left decided it was the government’s job to provide cradel to grave care for everyone accounted for more than 75 percent of the federal budget. To complain that the military consumes 12 of the budget while Medicaid consumes 50 percent is a straw man.

    The armed forces were three quarters of the federal budget in the 1950s with the Cold War on.

    In the 1920s, when the federal budget was only 4% of GDP, it was around one quarter.

    Medicaid is a separate issue from the defense budget, where we’re clearly not getting what we’re paying for.

    Though agree that highlighting what fraction of the federal budget is accounted for by the Pentagon is a bit of a red herring. Rather the question is do we have the national defense (or, as the case may be, offense…) we need, and are we spending our money efficiently?

    Having been an infantry man I can tell you that anyone who can do 20 or 30 years deserves a life long pension. Being a man is hard on the body.

    Do roofers deserve a life long defined benefit pension after twenty years?

  133. @Charles Pewitt

    When all else fails, you can still blame the baby boomers for everything. This crap was been going on long before baby boomer parents were born.
    There is an old saying: wars are the Jews harvest. All wars are economic wars, and the bankers, due to usury and money changing being forbidden to Christians, who were the original bankers. They’ve been running the scam for centuries, but have gone off the charts since the creation of the Federal Reserve banking system.
    What Mr. Giraldi fails to mention is the massive subsidies to business from military spending. Interstate highways were largely financed by military spending. Memphis is a port, due to the Army dredging the Mississippi. The list is long, but goes un-noticed as military spending.
    I won’t touch pay and benefits, but if you want wars, a drafted military will never be the answer. De-industrialization and high unemployment (which is grossly understated) only make joining the military more attractive, not more desirable.

  134. @geokat62

    geokat researched & figures:
    “Not sure about benefits, but based on this latest press release, I would infer that John Bolthead pulls in at least $180k.”

    Helluva job, geo! Thanks.

    When Bolthead’s next Israeli-driven salary review happens, he will get what PreZident Trump would describe as a “Big Time” raise!

    F.y.i., am Jumping ship now for Marcos Cicero’s new U.R. article. Frankly, I am concerned that Mr. Giraldi has set aside his accurate “Zionized” characterization of what he now describes as the “ruinously expensive American military.”

    Doubtless, Philip ‘walks & talks” in much larger size Dissent-Shoes than me, & he likely gets proportionately larger Lobby jackboot-kicks than I.

    So being extra pissy since ZUS’s deliberately provocative opening of it’s Jerusalem Embassy, the only hesitation there (for me) is Cicero’s use of the word “American” in the article title.

    Thanks again, Brother geo. Just one more thing? Brother Nathanael Kapner has engaged sacred combat on Cicero’s article.

    • Replies: @Realist
  135. As a Vietnam vet, and a supporter of the military, I urge others to understand this article. And how many senior officers retire with “full or partial disability?” It is a scandal.

    Why should the military, and ANY government employee and office holder, including those elected, receive ANY retirement pay and benefits? Pay them good wages up front, and let them participate in the Social security system like the rest of us. If they want more, they can join many programs to invest in like IRAs, etc. Or just save.

    Get EVERYBODY involved, private and government employees together in the same system, and maybe Social Security will be ensured of solvency. Sure, Generals, Admirals and Congress critters will make much less in retirement, but that is on them if they don’t plan ahead. And if that seems unreasonable to them, then we know that they serve not out of patriotism.

    • Replies: @Low Voltage
  136. H. S. says:

    ”Support free speech and full open inquiry!
    We the people will not be silenced!”

    Deep Truth: Visionaries Speak Out

    Friday, June 8, 8:00-10:30pm EST
    Mockingbird 2.0: Propaganda, Fake News, Fake History, and Outright Censorship
    Moderator – Tom Kiely

    Mark Crispin Miller – The Silence of the Left

    Ray McGovern – Russiagate: How It Started, Morphed, and Now Threatens Us All

    Gerry Docherty – How History Gets Memory-Holed: An Eye-Opening Case Study

    Alison Weir – How Pro-Israel Thought Police Are Silencing Americans

    Saturday, June 9, 11:00-1:30 EST
    Confronting Oligarchy: Resisting Full Spectrum Dominance
    Moderator: Tom Kiely

    Dean Henderson – All Roads Lead to the City of London

    Cynthia McKinney – The People vs. Empire: Calling For a TransPartisan Movement

    Jeremy Rothe-Kushel – We the People Power Politics: Principles, Practices, and Proposals

    Saturday, June 9, 2:30-5:00 EST
    False Flags: Mass Psy-Op Events as Pretext for Wars and a Surveillance State
    Moderator: Tom Kiely

    Barbara Honegger – 9/11: Gladio Brought Home to the U.S.

    Michael Springmann – Weaponized Migration: Fueling Europe for False Flags

    Sunday, June 10 , 2:30-5:00 EST
    Understanding Zionism: Deconstructing the Power Paradigm
    Moderator: Kevin Barrett

    Kevin Barrett – Anti-Semitism, Anti-Zionism, Judeophobia: Let’s Define Our Terms

    Philip Giraldi – ​How Jewish Power Sustains the Israel Narrative

    Gilad Atzmon – Truth, Truthfulness, and Palestine

    Alan Sabrosky – The Impact of Zionist Influence in the U.S.

    INFO: http://deeptruth.info

  137. @Anonymous

    You use a lot of figures but not the appropriate statistics. What do big aggregate numbers like 200k in debt per family really mean?

    This is not a statistics problem. The numbers tell you we’re in big trouble. The $200,000 per taxpaying family mean that taxes would have to be raised by $10,000, as an example, just to pay this money off in 20 years. A steady chipping-away at that debt would give people, like the ones that hold the debt in the form of Treasury bonds, some small idea that “yeah, maybe the dollar is still worth something.”

    However, a large majority of those families, in the example, would be made broke themselves if they had to come up with $800 more each month, not to mention made outraged. It can’t happen though. What that means is this debt not be paid, and most likely will keep growing the way the Feral Gov’t is run.

    The debt won’t mean as much if GDP were quickly raised much higher over the coming years, but how can that happen when the US does not create much weatlh anymore (no, I don’t count facebook and google as wealth)? The governments and (most of) the people are keeping their standard of living up via borrowing.

    The end result will probably a large amount of inflation, as the FED does by creating money and lending it out for cheap, to keep the stock market propped up so people still feel non-broke. That will ruin the dollar just the same as it will be ruined once interest rates rise and bust the budget that way. Even my man Ron Paul would not have been able to get us out of this, but he would have led people to understand how to dig out after the crash.

    • Replies: @Thorfinnsson
  138. @RadicalCenter

    AGREED

    Great stuff in all your comments, Mr. Center.

  139. G.-M. P. says:
    @Verymuchalive

    “Throughout their existence, the Templars remained an independent body, answerable only to the Pope. But it was their affairs away from the Holy land that brought them to preeminence, as international bankers, ironic it was that the pure knights would create the financial banking system so integral to the economic infrastructure throughout Christendom and which ultimately brough them to their downfall.

    History always repeats itself:

    “Taking Down” British Officials”

    “A quite incredible story out of England has not received much media coverage in the United States. It concerns how the Israeli Embassy in London connived with government officials to “take down” parliamentarians and government ministers who were considered to be critical of the Jewish State.”

    “Indeed, wherever one goes – Western Europe, Canada, Australia, New Zealand and the United States – there is a well-organized and funded mechanism in place ready, willing and able to go to war to protect Israel.”

    http://www.unz.com/pgiraldi/taking-down-british-officials/

  140. myself says:
    @The Scalpel

    Non-citizen resident: Persons residing in the territory of the United States, but are non-citizens.

    Different status from Green Card holders.

    For this to work, most public infrastructure would have to be toll-fee based. Use a street, a road, a bridge, or an airport or bus terminal – pay a fee.

    If you call the cops, paramedics or fire department – pay a fee. If you get helped out by public services without you asking for it – pay a fee, but you can explicitly refuse help, and pay nothing.

    Ineligible for most public services like schooling for your kids, hospitals, public defenders. Pay for these yourself.

    NO income taxes, cannot be drafted.

    Pay a small amount to be allowed residency in a safe, secure region, state or part of town – since you are also indirectly benefiting from the general safe, clean environment paid for by the citizen taxpayers.

    Otherwise, all your money is yours alone, and the government stays out of your business.

    Maybe it’s possible.

  141. @Johnr

    Being a man is hard on the body.

    And being a pampered government agent is being a punk which is hard on the soul.

    “… I spent most of my [33 years in the Marine Corps] being a high class muscle- man for Big Business, for Wall Street and for the Bankers.

    In short, I was a racketeer, a gangster for [crony] capitalism.”

    Major General Butler USMC, War is a Racket, 1935

    http://www.ratical.org/ratville/CAH/warisaracket.html

  142. Realist says:
    @ChuckOrloski

    Above, who would meaningfully tell that to the ZUS Defense Department, Joint Chiefs of Staff, & the military contractors?

    Sheldon Adelson? Netanyahu?

    A President with balls.

  143. Realist says:
    @ChuckOrloski

    Frankly, I am concerned that Mr. Giraldi has set aside his accurate “Zionized” characterization of what he now describes as the “ruinously expensive American military.

    So if Giraldi deviates from his usual articles about Zionists influence you are ‘concerned’.
    Your obsessive 24/7/365 hatred of all things Jewish is bazaar.

    • Replies: @jacques sheete
  144. Anonymous[196] • Disclaimer says:
    @Tbbh

    We spend more than the next ten nations, COMBINED. …To “defend ourselves” from goat herders that can’t afford passports or air tickets. 800 bases scattered across the planet. But, thinking about it, folks like somalians have been invading the US…OH. WAIT! Federal refugee programs have been importing somalis. NEVER MIND.

    We fight them there so we can bring them here and put them on welfare/food stamps? Makes perfect sense.

    Yep, we import the third world so they can then engage in welfare fraud and siphon off even more hundreds of millions of dollars to their shithole.

    http://www.fox9.com/news/investigators/millions-of-dollars-in-suitcases-fly-out-of-msp-but-why

    Millions of dollars in suitcases fly out of MSP, but why?

    MINNEAPOLIS (KMSP) – For five months, Fox 9 has been investigating what appears to be rampant fraud in a massive state program.

    This fraud is suspected of costing Minnesota taxpayers as much as $100 million a year.

    The Fox 9 Investigators reporting is based on public records and nearly a dozen government sources who have direct knowledge of what is happening.

    SUITCASES FILLED WITH MONEY

    This story begins at Minneapolis-St. Paul International Airport, where mysterious suitcases filled with cash have become a common carry-on.

    On the morning of March 15, Fox 9 chased a tip about a man who was leaving the country. Sources said he took a carry-on bag through security that was packed with $1 million in cash. Travelers can do that, as long as they fill out the proper government forms…

    …FOX 9 REPORTED ON THE FRAUD FIVE YEARS AGO

    To better understand the connection between daycare fraud and the surge in carry-on cash, you have to look at the history of this crime.

    Five years ago the Fox 9 Investigators were first to report that daycare fraud was on the rise in Minnesota, exposing how some businesses were gaming the system to steal millions in government subsidies meant to help low-income families with their childcare expenses…

    …Fox 9 obtained video of Fozia Ali being sworn in as a member of the city of Hopkins Park Board.

    “I will support the constitution of the United States,” she said.

    As she was taking her oath of office, she was also under investigation for wire fraud and theft of public money.

    “So help me God,” she said during the ceremony.

    State and federal agents had already raided Ali’s daycare center in south Minneapolis. The business was suspected of billing the government for more than a million dollars’ worth of bogus childcare services.

  145. Catiline says:

    Isn’t the military at all levels disproportionately Southern?

    • Replies: @Low Voltage
  146. JSRagman says:

    This liberal needs to spend a year or ten in the Marine Corps. Then he would get a much needed dose of reality. To save much needed money we should cut foreign aid.
    Another even better way to save tax dollars would be to mandate sterilization for all welfare recipients and their offspring. Think of the billions that would save.

  147. @Catiline

    According to Chas Freeman (You should Google him if you aren’t familiar with his name), the South eventually won the Civil War by taking over the Pentagon. The United States now has far more in common with the agrarian Confederacy than the industrial Union:

    Low wages
    Military worship
    Free trade
    Natural resource based economy
    Third world immigration (slave trade)
    Etcetera

    Eisenhauer warned about the Military Industrial Complex. He should have called it a resurgent Confederacy.

    • Replies: @Catiline
    , @Jesse James
  148. TKK says:

    It is wonderful the author attacked the sacred cow of the American military. The problem runs deeper. The hard jobs in the American military are contracted out to companies like KBR.

    In return, KBR employs large numbers of minorities and what they call foreign nationals
    These are usually Bosnians or Somalians- Neither of which is known for their energizing work ethic.

    A typical day on an Iraqi base such as al-Assad right now, would show you military men and women working out, eating like hogs, running their mouth, Skyping with friends and family, having affairs and generally complaining about any type of work they have to do in the hot sun.

    These American heroes work for 15 minutes and then have a 45 minute rest break if the temperature is over 90°. Many run to the medic asking for IVs when the temperature goes over 100°. I can say the only exception to this seems to be the special forces, who are much tougher than the general enlisted slackers.

    The American taxpayer is twice gut punched because these contractors are paid staggering amounts of money. A person who folds towels in the gym, usually a surly Bosnian ,is generally paid about $60,000 a year. This is justified by combat pay and the fact that they do work seven days a week.

    Having worked with the military, I can say unequivocally that most of them are lazy and entitled. My grandfather fighting in World War II -who actually saw combat- did not mope home , whine he was traumatized and get hooked on moriphine.

    He came home and began working in a mill.

    Living in a community near Fort Bragg, everyone knows that the worst members of the community will be the military family. They have as many unruly children as they can to raise their stipends. When they are supposed to be at work you see their cars parked at home from 10 to 3. They then scurry back to work- I assume to clock out or save face.

    The American military is the most strident form of socialism in the world today. Total morons receive cradle to grave security for a mere 20 years of service that could involve something as silly as sitting at a desk checking out books. If they did this for seven months in Afghanistan they will come home and say they have posttraumatic stress s and need lifelong service dogs and narcotics.

    Another hidden repugnant fact about many military servicemembers is there horrific treatment of their service dogs. They are not qualified to own dogs and they are too lazy to walk and take care of them.

    The shelters around Fort Bragg are full of dogs that these so-called “wounded warriors” abandoned when they actually had to get up off the couch and take them for a walk.

    Here’s an idea: if the actual Reality of combat turn you into a quivering little girl that wants to hide in their apartment all day and watch Netflix, don’t sign up for the service.

    • Replies: @Mike P
  149. Mr. Anon says:
    @Thomm

    Is that your ostensibly high IQ on display?

    And, as far as I can recall, the only subjects about which you have displayed any knowledge are trashy TV and WWE smackdown.

    You’re a cretin.

  150. Mr. Anon says:
    @anarchyst

    If I had my way, all foreign troop deployments would stop. Those countries requesting our “protection” would have to pay for it.

    Seems to me, that was one of President Trump’s campaign promises–making foreign countries pay for their defense.

    I don’t like the idea of the american military being a mercenary force anymore than the idea of them being an imperial garrison force.

  151. @Achmed E. Newman

    This is not a statistics problem. The numbers tell you we’re in big trouble. The $200,000 per taxpaying family mean that taxes would have to be raised by $10,000, as an example, just to pay this money off in 20 years.

    The money does not have to be paid off. Daily volume of the Treasury market averages $500 billion. This is a non-problem that people have been panicking about for my entire life.

    A steady chipping-away at that debt would give people, like the ones that hold the debt in the form of Treasury bonds, some small idea that “yeah, maybe the dollar is still worth something.”

    I can tell the Dollar is still worth something every time I buy something and it’s accepted without complaint. As can everyone else.

    However, a large majority of those families, in the example, would be made broke themselves if they had to come up with $800 more each month, not to mention made outraged. It can’t happen though. What that means is this debt not be paid, and most likely will keep growing the way the Feral Gov’t is run.

    1 – Most income taxes paid by the wealthy

    2 – If you can’t afford an extra $800 a month you’re a loser

    3 – The debt does not need to be paid, and that it keeps growing is not a problem

    The debt won’t mean as much if GDP were quickly raised much higher over the coming years, but how can that happen when the US does not create much weatlh anymore (no, I don’t count facebook and google as wealth)?

    Facebook and Google might not be valued by you as wealth, but the market disagrees (not that I am supporter of either entity). The two entities are worth well over one trillion combined.

    The governments and (most of) the people are keeping their standard of living up via borrowing.

    Not a problem provided the debt can be serviced, which it is. The average credit score in America now exceeds 700. And total consumer debt is no higher than it was before the previous crisis, despite a larger population with higher incomes and improved credit.

    The end result will probably a large amount of inflation, as the FED does by creating money and lending it out for cheap, to keep the stock market propped up so people still feel non-broke. That will ruin the dollar just the same as it will be ruined once interest rates rise and bust the budget that way. Even my man Ron Paul would not have been able to get us out of this, but he would have led people to understand how to dig out after the crash.

    Real Soon Now

    You are a religious fanatic whose views do not align with reality

  152. While this article is accurate, it should be noted that while the US$ is still the preeminent settlement currency, the Empire pays for the upkeep of our pampered centurions. Since the 1970s, Germany and Japan have carried the US economy on their capable backs (Trilateral Commission), while London and Wall St. have looted and plundered the developing countries through sundry financial swindles. None of this would be possible without the strong arm tactics of the US military.

    In short, the only thing that has changed since Smedley Butler’s seminal work is the increasing share of the spoils enjoyed by the military caste. Contemporary events suggest that the status quo is no longer tenable since all of the low hanging fruit has been picked. Thoughtful observers will take advantage of the present situation and have some fun before the music stops.

    • Replies: @jacques sheete
  153. JackOH says:

    Are there a disproportionate number of current veterans claiming PTSD as a service-connected and compensable disability, or, even without compensation, getting treatment through the VA, or maybe even privately?

    No snark intended. I don’t actually know. We had a recent incident at a local VA clinic where a guy blew his brains out while in the waiting room for a scheduled appointment. He was an enlisted air force guy with Afghan or Gulf II service. I did think: how much trauma-inducing combat could this guy have experienced? Again, I don’t know any better.

    Anyone know better about PTSD claims?

    • Replies: @anarchyst
    , @Hibernian
  154. The military establishment has its issues. And while there could definitely be come changes to improve compensation accountability, the real expense is not in manpower.

    The pay/benefits issues that are clear to me are

    a.. no civilian contracting work in consulting until five years after retirement.

    b. no one elected or appointed to serve in public office should be permitted to own, trade, sell stock/bonds, sit on advisory boards or be board members of any financial institution.

    Both “a” and “b” are conflicts of interest.

  155. Rurik says:
    @Thorfinnsson

    2 – If you can’t afford an extra $800 a month you’re a loser

    the value of the dollar is falling drastically, as everything from a trip to the grocery store to filling your tank creeps and creeps up, while wages are stagnant. This trend will continue, as people are forced to scramble to protect the value of their savings, by going to the rigged casino that is Wall Street, where their pensions and savings will eventually be looted, just as it was in 2008.

    yes, they can ‘print’ money till kingdom come, but that’s not the point of owing the national debt. The point isn’t to simply have the debt, the point is power.

    the point is having the power to pick winners and losers, or what’s the point of even having power?

    they’ll use that debt to demand your pensions, and raise your property taxes, and a thousand other ways of destroying the dying middle class. ‘Of course we’re taking your pension to pay off the debt, but then you should have thought of that before you borrowed trillions of dollars to wage endless wars for Israel, and to fund all those entitlement programs that would make your nations a magnet for Third World immigration.’ Don’t complain about your debt now, you were the ones who borrowed all that mullah, now it’s time to pay the piper.’

    Debt is a weapon, and they’ll wield it sure as a gun pressed to your temple.

    They’re at war, and always have been. It’s an undeclared war, but their zealotry is netherworldly, while their victims don’t even know they’re slated for the trash heap of history.

    https://www.mediamatters.org/video/2018/05/15/tucker-carlson-hosts-apartheid-apologist-complain-about-south-africa-not-what-nelson-mandela-wanted/220214

    just listen to how he describes the news coverage of certain crimes, it eerily mirrors our own media, and that of all of Western Europe.

    “Hands up, don’t shoot”, (vis-à-vis Michael Brown) is a fake news lie, and yet it’s plastered from the mountain tops with a psychotic hysteria, but no one has ever heard of Channon Christian (racist who got what was coming to her, just like the racists in S. Africa).

    And what gives them this power to control the narrative, to the point where the Western world will sit on its hands as its members are savaged in their own countries? And any expression of compassion for S. African farmers is considered racism most foul. Even suggesting that the white farmers and their families being slaughtered by hatred-crazed blacks, be allowed asylum, is considered beyond the Pale, by the very government orchestrating the slaughters. IOW, they don’t want them out of the country, they want them dead. And hopefully tortured to death.

    It’s debt that gives ((them)) this power.

    And it’s the Fed that allows them unlimited means of enslaving the planet to their debt, and using that power to pick winners and losers.

    This is the real issue of national debt. It’s all about power, and picking winners and losers.

  156. Mike P says:
    @TKK

    I consider all of this excellent news. An expensive yet useless American military is the best hope for maintaining world peace.

    • LOL: HogHappenin
    • Replies: @HogHappenin
  157. Unmoved by service men decrying the sentiment.

    I deeply appreciate those who have served the country in uniform. And that is especially the case for men.

    • Replies: @jacques sheete
  158. @Rurik

    Hi Rurik,

    Although no one’s counting, I’d vote your comment as runaway # 1 on this article.

    The corresponding picture of Mnuchin & Ivanka spoke beyond 1,000,000 negative words I could summon.

    Especially for the Zio-washed younger commenters appearing on this thread, I link Bruce Springsteen’s song, with lyrics, “Atlantic City.”

    As you know, as Resorts International owner, Donald Trump operated The Taj Mahal, now shuttered, on the A.C. boardwalk.

    In the song below, you & perhaps others will be interested to hear Springsteen mourn, “There’s winners & losers and don’t get caught on the wrong side of the track.

    Rurik, do you happen to know the name of Jordan’s north-south railroad on display in the classic “Lawrence of Arabia?” January, 1981, I saw it & never learned the line’s name.

    Likely there are many stalwart & principled Palestinian (losers?) assembled on both sides of that RR-border & who ride the daily Tel Aviv/D.C. Express to ISIShantytown?

    Thanks very much for your Servus!

    • Replies: @Rurik
  159. anarchyst says:
    @JackOH

    Yes, I can elaborate. Those of us who served in Vietnam were subject to a 12 or 13 month “tour of duty” depending on branch of service, and would not be sent back to Vietnam for at least three years, unless one volunteered to return to Vietnam sooner.
    Since the Gulf war, American troops have been deployed on back-to-back “tours of duty” lasting for years, with a 30-day hiatus between deployments. This is destructive to the troops’ mental health, much greater than those who deployed to Vietnam. PTSD was known as “shell shock in WW1 and WW2, and was actively discouraged and dismissed as “malingering” during Korea and Vietnam.
    Back-to-back deployments are NEVER a good idea, but are necessary because of manning constraints.

    • Replies: @JackOH
  160. Anonymous[257] • Disclaimer says:
    @Thorfinnsson

    Very good response.

    Sadly this extended conversation about economics reveals a problem with a lot of the commentators on Unz. They understand what normies don’t understand (e.g. Zionist Jews have out of control influence over US foreign policy), but not because of high intelligence.

    They do want to appear intelligent but lack anything close to Karlin level necessary analytical ability and knowledge, which they mask by predicting the next apocalypse which gives their hollow thinking and weaknesses in knowledge a kind of gravity.

    • Replies: @Thorfinnsson
  161. @Realist

    Your obsessive 24/7/365 hatred of all things Jewish is bazaar(sic).

    I believe that is an example of a strawman argument, but even if it weren’t why would it be bizarre?

    PS: You better hope the Zio-trolls don’t notice your misspelling because they tend to mock people who make errors like that. Of course they tend to mock even those of us who are often correct. (They just hate it when any dumb goy speaks the truth.)

    • Replies: @Realist
  162. @Anonymous

    What evidence is there that the trade discussion is based on China reducing treasury holdings rather than counter-tariffs …

    I have none whatsoever and do not intend to obtain any since I already have a lot to do. However, it makes sense to me that both of the above could be factors, as well as others, and that you cannot produce any credible evidence to say that it is due to only one of the reasons you mentioned.

    You seem to be taking a stab at engaging a false dichotomy, which is naughty, naughty!

  163. Rurik says:
    @ChuckOrloski

    Thank you Brother Chuck,

    The corresponding picture of Mnuchin & Ivanka spoke beyond 1,000,000 negative words I could summon.

    sounds about right, because there really aren’t words capable of expressing the sinister clouds gathering that are represented by that photograph, is there?

    this must be the railroad you’re referring to.

    https://www.telegraph.co.uk/travel/rail-journeys/T-E-Lawrence-and-the-Hejaz-railway/

    Peace.

    • Replies: @ChuckOrloski
  164. @Low Voltage

    Another powerful comment; low voltage, but very high amp!

    • Replies: @Rurik
  165. @Rurik

    And it’s the Fed that allows them unlimited means of enslaving the planet to their debt, and using that power to pick winners and losers.

    Rurik, haven’t you been reading Krugman? Don’t you know that “debt is good?” Good, good, goooood!

    ‘Smatta you jealous er sump’n?

    Note to the clueless: The above is my admittedly weak attempt at sarcasm. R’s comment is spot on through and through.

    • Agree: Mike P
    • Replies: @Rurik
  166. @EliteCommInc.

    I deeply appreciate those who have served the country in uniform. And that is especially the case for men.

    Oh you do, do you ? Well isn’t that swell?

    When yer ready to lose the romantic fantasy, check this out…

    In an effort to PREVENT the war that Churchill called “unnecessary,” (WW2,) this 2 time Medal of Honor recipient wrote…

    “… I spent most of my [33 years in the Marine Corps] being a high class muscle- man for Big Business, for Wall Street and for the Bankers.

    In short, I was a racketeer, a gangster for [crony] capitalism.”

    Major General Butler USMC, War is a Racket, 1935

    http://www.ratical.org/ratville/CAH/warisaracket.html

    Some get it; some don’t.

    “They can send every last soldier anywhere on earth, but there will only be a war if soldiers are willing to fight, and the ruling class: the billionaires who profit from human suffering care only about expanding their wealth, controlling the world economy, understand that their power lies only in their ability to convince us that war, oppression, and exploitation is in our interests.”

    We were told we were fighting terrorists, but the real terrorist was me and the real terrorism is this occupation.

    - Mike Prysner, Iraq War vet

    • Replies: @EliteComminc.
  167. @Rurik

    the value of the dollar is falling drastically, as everything from a trip to the grocery store to filling your tank creeps and creeps up

    Uhh dude how can there be inflation when I can get four double cheeseburgers from McDonald’s for under eight dollars? Have you even heard of the McDonald’s 1-2-3 menu?

    I just bought a 65″ OLED 4K display for $2,300. A dozen eggs at the gas station cost 99 cents.

    A base first generation Ford Taurus sedan with a 90 horsepower engine and no air conditioning cost $10,050 in 1985. A base Ford Fusion with 175 horsepower (and better fuel economy), fancy infotainment, oodles of safety systems, alloy wheels, etc. today costs $22,215.

    So for mid-size sedans from Ford the 33-year rate of inflation without hedonic adjustments (a favorite bugbear among hard money cranks) is 2.43%.

    The sky is falling!

    This trend will continue, as people are forced to scramble to protect the value of their savings, by going to the rigged casino that is Wall Street, where their pensions and savings will eventually be looted, just as it was in 2008.

    Looted? Who profited from that, exactly, other than the very small number of people who went short? Perhaps if your portfolio consisted solely of Lehman Brothers shares, Greek state bonds, subprime mortgage backed securities (ideally, one would only own MBSes solely composed of the famed NINJA–no income no job or assets–mortages), and Cypriot bank deposits. And needless to say this brilliant portfolio was not hedged, because hedging is for cowards! :)

    Meanwhile since 2009 the S&P 500 has returned over 400% with dividends reinvested.

    Wall Street has also greatly improved the products available to retail investors since then. Money is flowing out of “active” mutual funds and into low-cost index funds, and soon Vanguard will offer index funds for free (no expense ratio!). Target Date Funds and Robo-Advisors automatically rebalance your portfolio based on your age, ideal for people who aren’t interested in finance and just want to grow a nest egg.

    And in case you’re not paying attention, there are now time deposits and Treasuries which pay interest which exceeds the rate of inflation.

    Those with an irrational fear of stocks have always been able to protect their wealth from inflation by purchasing Series-I Savings Bonds directly from the United States Treasury, and bigger purchasers (can’t buy more than $10,000 of I-Bonds in a year or hold more than $300,000) can buy Treasury Inflation Protected Securities (TIPS).

    As for the rest of your crankery, man it’s a good thing I’m not a middle class dweeb with a pension worried about my property taxes. Though my property taxes are irritating as my town is being looted by teachers and firefighters. [email protected]#$ing gold-bricking parasites.

    Defined-benefit pensions were a bad idea, which is why they’e being replaced by defined-contribution pensions. I own my 401k and HSA outright. They’re not entitlements which depend upon the promises and wishful thinking of others.

    And yes, people who rely on defined-benefit pensions other than federal government workers are largely going to get screwed. This is wrong, but proves my point about them being a bad idea. But they’re not going to get screwed because of your fear of debt and Wall Street. They’re going to get screwed because their pensions were never properly funded to begin with.

    As for (((they))), three of the five largest banks in America have Irish CEOs. You’ve been cucked by the Shamrock and the Leprechaun, Rurik!

  168. @Anonymous

    Thank you.

    Something a crypto-loon stated recently I think explains why.

    This crypto-loon also eats an all-meat diet, which is scientifically grounded.

    He stated that once one sees that the conventional wisdom in one domain is wrong, it is easy to see that it is wrong in other domains.

    So once you become a dissident in one area, it’s natural to be a dissident in another. I am a former hard money crank myself incidentally.

  169. Realist says:
    @jacques sheete

    PS: You better hope the Zio-trolls don’t notice your misspelling because they tend to mock people who make errors like that.

    It wasn’t misspelled…just wrong bizarre.
    I don’t pay much attention to the bozos on this blog.

    • Replies: @jacques sheete
  170. @Thorfinnsson

    Uhh dude how can there be inflation when I can get four double cheeseburgers from McDonald’s for under eight dollars? Have you even heard of the McDonald’s 1-2-3 menu?

    And I thought you were being sarcastic!

    BTW, WTF, Dear Pollyanna, is a McDonald’s 1-2-3 menu?

    • Replies: @Thorfinnsson
  171. @myself

    To the DoD’s budget (including “extraordinary” war funding) one would add the Department of Veterans’ Affairs ($180 bn) and the nuclear weapons programs ($12bn) of the Department of Energy.

    Some people suggest including elements of the DHS as well, but I think this is bogus.

    States also pay some expenses of the National Guard (this issue is so confusing I don’t understand it), and some states operate welfare programs for veterans. I’m not sure if the latter should count.

    So you can add another percentage point of GDP to the official budget.

  172. @Realist

    It wasn’t misspelled…just wrong bizarre.

    I was generously offering you the benefit of the doubt, kind sir, and that’s not something you could rationally expect from the Zio-trolls that infest, well, everywhere.

    They routinely and invariably offer a veritable bazaar of the bizarre.

  173. @Rurik

    Anon (419) did me favor, saying: “this must be the railroad you’re referring to.”

    Hi 419!

    Very nice of you to go out-of-the way to help me.

    January 1981, aboard a Mercedes Benz (

    • Replies: @Rurik
  174. @jacques sheete

    https://www.mcdonalds.com/us/en-us/full-menu/123dollarmenu.html

    It’s the replacement for the old Dollar menu. It offers various items for one, two, or three Dollars.

    Wendy’s likewise has a Value Menu: https://menu.wendys.com/en_US/category/value-menu/

    You will not find “premium” items such as the Big Mac or Baconator on these menus.

    I was being sarcastic with the McDonald’s line, as the replacement of the Dollar Menu with the 1-2-3 menu is due to inflation.

    Food prices have tended to rise in line with the overall rate of inflation in my lifetime. The big inflation in America is in education and healthcare. Fortunately I consume neither.

    Childcare prices also increase faster than inflation, which I don’t understand at all. Childcare after all is unskilled labor, and as Rurik notes real wages have been flat for decades. Proliferating regulations?

  175. @Thorfinnsson

    They’re not entitlements which depend upon the promises and wishful thinking of others.

    That comment shows that you have the potential to understand some of what you speak.

    …man it’s a good thing I’m not a middle class dweeb with a pension worried about my property taxes.

    That’s one of several that demonstrate you have a bit to learn; if there’s no inflation, then why do property taxes keep rising?

    I’ll agree that when it comes to wages, deflation seems to be the rule despite the fact that when I was a kid, $1.50 an hour was OK, while I don’t think people can do as well with the commonly offered $12.50 an hour nowadays. Hmmm…deflated inflation?

    No inflation? Let’s talk gasoline prices, or are the higher prices due to some magic fairy dust they lace it with nowadays? Ever do a brake job on a car? Take it from me that even with “ceramics” brakes don’t last any longer or function any better than they did when they cost about 90% less.

    Since you mentioned car prices, you can’t just look at the sticker price and justify the increase tag price on the quality improvement, because, for one thing, auto manufacturers likely make more money on the financing than on the profit, if any. In other words, all the glitz and glitter and “hedonic adjustments” are essentially “come ons.” Yer not buying a car so much as acquiring debt to look cute ‘n feel good. It’s long been common knowledge that GMAC was the money maker for GM, which, if I recall was yet another that needed a bailout form the taxpayers. I bet you didn’t include that cute little fact in your calculus. Parenthetically, any decent person would vomit if they knew what controls GM…

    Anyway, there’s a lot more that could be said, but who cares? Besides, rurik is right and you apparently have a lot to learn, so snap to it and quit trying to baffle us dumb goyim with BS.

    Thank you.

    • Replies: @Thorfinnsson
  176. @Thorfinnsson

    It’s the replacement for the old Dollar menu. It offers various items for one, two, or three Dollars.

    No wonder yer not a middle class dweeb. Sounds like some crap for the poor lower class ones who never had, and never will have a sense of value, and will forever be wage, tax and debt slaves.

    But hey, uh got my buurgerr, ‘n sody! What a deal!

    • Replies: @Byrresheim
  177. Catiline says:
    @Low Voltage

    National/historical reversion to the mean I suppose.

  178. @Thorfinnsson

    You will not find “premium” items such as the Big Mac or Baconator on these menus.

    Thank you for putting “premium” in quotes.

    You’re also correct that I will not find those things there. The reason is that you’ll never catch me looking for anything in one of those ridiculous joints (other than a bathroom on occasion).

    On the other hand, you won’t catch me sipping wine and snacking on caviar with some of the effete trolls around here, either.

    • Replies: @Thorfinnsson
  179. Rurik says:
    @ChuckOrloski

    Hey Brother Chuck,

    that was me, Rurik

    I just forgot the email address I used to log on last time, and the software is telling me I have to remember from now on, and stop making up email addresses as I go.

    I responded to your post before I will to some others, (if I have the time), so that they’ll also know that I am Anon for now, until I figure how to get my identity back ;)

    Peace.

    • Replies: @ChuckOrloski
  180. Rurik says:
    @jacques sheete

    Krugman? Don’t you know that “debt is good?” Good, good, goooood!

    ah yes, Kruggy!

    he’s the economic version of Krauthammer, wrong on everything, that’s why they’re so smart!

    or is it smaart

  181. @Low Voltage

    “According to Chas Freeman (You should Google him if you aren’t familiar with his name), the South eventually won the Civil War by taking over the Pentagon. The United States now has far more in common with the agrarian Confederacy than the industrial Union:

    Low wages
    Military worship
    Free trade
    Natural resource based economy
    Third world immigration (slave trade)
    Etcetera

    Eisenhauer warned about the Military Industrial Complex. He should have called it a resurgent Confederacy.”

    That’s absurd. The Pentagon is intravenously connected to NYC’s Wall Street and is overseen by the Boston to Northern Virginia East Coast Neo-liberal Oligarchy who hate the South and the white people who live in it.

    • Agree: Bill Jones
    • Replies: @Corvinus
  182. polaco says:
    @Cloak And Dagger

    And it was the Roman military attacking and looting it’s own cities when the empire was really crumbling and they weren’t getting paid.

  183. @Thorfinnsson

    The money does not have to be paid off. Daily volume of the Treasury market averages $500 billion.

    It doesn’t matter how much is TRADED AROUND. If that money dissipated overnight, it’d be a big damn problem for the holders of it. $800 Billion back in 2008 was needed to prop up the too-big-to-fail banks in ’08, and believe you me, it was sure a crisis to those guys.

    This is a non-problem that people have been panicking about for my entire life.

    I am very familiar with the talk that “debt doesn’t matter”. That started way back in the 1980′s. However, what can’t go on, won’t go on. At some point, too many people will look at the notes that they’re holding and wonder whether they’re backed by anything.

    You ARE right that the wealthy pay a big proportion of the income taxes, but no matter who can afford it, 10K per family extra per year to pay down debt does not go into the productive economy.

    Maybe you live in NYC or “The City” in London, but Americans are absolutely NOT in good financial shape in general around the country. Man, you know car loans go out to 6 and 7 years now? Student debt default rates are in the 15-20 % range of the $1.5 Trillion owed. There aren’t enough decent jobs for most graduates to pay that money back. You don’t get out much if you think that things are going swimmingly economics-wise.

    I’m just curious what you think will happen when the FED lets interest rates rise, or how long they can continue this charade of holding them down to almost nothing to prop up the stock market so people can reckon they are doing OK.

    • Replies: @Thorfinnsson
  184. Rurik says:
    @Thorfinnsson

    [There's a serious possibility that commenters unwilling to save their email or name information will no longer have their comments published.]

    I just bought a 65″ OLED 4K display for $2,300.

    you’re admitting to that?!

    To watch what with exactly. Maybe programming is better in your area.

    A dozen eggs at the gas station cost 99 cents.

    we buy only ‘pasture raised’ eggs. My gal thinks eating eggs from healthy chickens, who’re ‘happy’ will result in better quality eggs, but for me, I spend the extra money (about $6+ per dozen) for moral reasons. Which is same reason I don’t eat ham or bacon or dogs or cats.

    Not that I judge other people who do, (except when they torture the animals before they kill them, because the meat taste better that way. In which case I’d like to feed such humans to the pigs that I don’t eat).

    Some cars and some things are cheaper, but generally, the middle and working classes are languishing, and it’s getting worse, not better, as the wealth gap explodes.

    Looted? Who profited from that, exactly, other than the very small number of people who went short?

    the whole rotten and corrupt den on snakes on Wall Street profited massively during the orgy of fraud and theft. Countywide, Shittybank, Goldman Sachs, and all the rest of the thieving scoundrels. They killed Glass so they could loot the Treasury, and loot the Treasury they did.

    It was a feeding frenzy, with synthetic ‘credit default swaps’, and ‘collateralized debt obligations’ and collateralized derivatives with sub-prime liar loans, and Freddy and Fanny to cover the tracks.

    With the SEC carefully looking the other way, hoping to get a gig with Goldilocks making thirty times what they made as regulators.

    Greed, and avarice like never seen before. That’s who made the money. All of those rats and swindlers at the big investment banks.

    books should be written

    and when it all imploded, as it must surely do so again, the big boyz got out first. And then the taxpayer was slated to cover the loses. Just as Robert Rubin, the Dr. Frankenstein of Wall Street/Treasury/Fed corruption and collusion (with his Igor; Lawrence Summers)- planned.

    Meanwhile since 2009 the S&P 500 has returned over 400% with dividends reinvested.

    QE baby! Up the ying and out the yang.

    An orgy of ‘printing’, until the music stops, and only the same people who knew it was coming in 08, will know when it comes this time around. And trillions of dollars of “wealth” will be disappeared over night. There goes your pension.

    Remember the ratings agencies?

    you know what the ratings agencies remind me of, recently it was revealed that Experian sold, er, I mean lost millions of people’s data. Now they’re on the television running ads for protecting people’s data. I shit you not. You can call them and pay them to “protect” your data from the “dark web’. Wow.

    And the ratings agencies? Yep, they’re still in business. Holy moly.

    Wall Street has also greatly improved the products available to retail investors since then.

    I bet!

    buy a commodity ETF today, and watch as the price is manipulated with the aplomb of a pick pocket. Just hit a few keys on the Fed’s computer, and voila! Silver trades at curious lows, while demand is higher than ever.

    it’s a shell game, and its rigged. Works well as long as you’re playing it safe, but then weren’t AAA rated funds eviscerated, (along with people’s pensions) following the 08 crash?

    Have they instituted hardy reforms to prevent something like that from happening again?

    your crankery, man it’s a good thing I’m not a middle class dweeb

    personally, I’m just fine. I have no debt, and I’ve done well enough to spend an inordinate amount of time bloviating about things I’ll never be able to actually change, but speaking out seems cathartic, and I hope I’m tossing pebbles, that will create ripples, so to speak, as I suspect most of us are doing here.

    I don’t rail here against the serials crimes and atrocities of our elites for my personal benefit, but rather for the (especially young) people who I see will be victims of these snakes. And I’m here just trying to warn them, that the emerging Orwellian total surveillance police state they’re building is not going to be an utopian unicorn land they’re thinking it is. Not hardly.

    But they’re not going to get screwed because of your fear of debt and Wall Street.

    they’re going to get screwed because the system is set up to screw them.

    The reason the wealth gap is burgeoning, is because the .01% that run things want it to, and the people who’re being set up to get screwed again, are being lied to by the people who they’re trusting and paying and exalting to positions of power to look out for their interests- the politicians- are the very people betraying them to their enemies.

    As for (((they))), three of the five largest banks in America have Irish CEOs.

    the problem isn’t the commercial banks. The problem is the investment banks, and what used to be a wall (Glass-Steagall) that separated the investment banks from the Treasury, which is now the henhouse being guarded by the jackal.

    ~ Rurik

    • Replies: @Thorfinnsson
  185. Rurik says:

    [There's a serious possibility that commenters unwilling to save their email or name information will no longer have their comments published.]

    thank you moderators

    point taken, I’ll maintain consistent info from now on.

  186. @Rurik

    Got it, Brother Rurik.

    Mohammedans say “Allah Akbar,” and based upon your great picture-post of the smiling Mnuchin & Mrs. Kushner @ al Quds, I am compelled to add…, so is “Rurik of U.R.abia” great.

    • Replies: @Anon
  187. Hibernian says:
    @LondonBob

    I think we benefitted at least a little bit between the end of the Cold War and 911. That was how Bill Clinton ran a slight surplus at least one year.

    • Replies: @MarkinLA
  188. Hibernian says:
    @LTDanKaffey

    I think that should be a non-citizen resident.

  189. Hibernian says:
    @JackOH

    Many Air Force personnel have become more ground oriented in the GWOT, not as infantry but as MPs, transport, etc. MPs go on patrols, transport drivers are ambushed , etc. This does not mean they are the same as infantrymen who continually seek contact with the enemy.

  190. @jacques sheete

    I think I stand where i came in — I appreciate their service.

    I appreciate their service and am certainly disappointed when said service is ill used by the civilian leadership. i appreciate their service, knowing that some will violate common decency and ethics not only against our enemies, but regretfully to their own –

    I appreciate then when they make mistakes — and should be held accountable.

    I appreciate our armed forces and the men who serve, even if some think they are overcompensated and some surely are.

    I have no fantasies about life in service or the tragedy of conflict – it’s a nasty business all way ’round.

    I appreciate their service.

  191. MarkinLA says:
    @Hibernian

    I think we benefitted at least a little bit between the end of the Cold War and 911.

    Emphasize the words “a least a little” because it wasn’t very much as the government spent a lot of money to close those bases and pay for retraining programs for laid off defense workers.

    There was no real surplus under Clinton that could be attributed to the peace dividend. The national debt never went down as in enough came in to retire some debt by not rolling it over when old debt matured. What happened was the dot com boom resulted in tons of stock options being exercised and huge pay days for web designers. You also had Y2K hysteria. This not only resulted in more income tax paid but a huge jump in Social Security taxes collected which don’t help the debt (but do the deficit since Congress steals the money) because they are on the books as Treasuries that will later be redeemed to pay for future SS outgoes that are higher then incoming taxes.

    Remember the time leading up to Y2K was goldmine for old COBOL programmers supposedly fixing old legacy financial services software. There were also stories of 20 somethings making well over 50 dollars an hour for HTML programming for web pages. Coders were dropping out of university programs to get in on the gravy train.

    It allowed people to crow that the deficit was gone but it was sleight of hand and those gains became later capital loses when those stock prices collapsed and those jobs disappeared leaving people on unemployment insurance.

    A lot of stock options are cashed out immediately after execution in what is called a cashless transaction. The IRS treats this as ordinary income subject to both income tax and SS taxes.

  192. @jacques sheete

    I don’t dispute the existence of inflation. I dispute the idea, common to hard money cranks, that inflation is much higher than reported. An amusing fact about this is that a Shadow Stats subscription has the same nominal price it did a decade ago.

    That’s one of several that demonstrate you have a bit to learn; if there’s no inflation, then why do property taxes keep rising?

    Local government spending is the same share of GDP it was four decades ago. Property taxes rise…as do assessed property values and incomes. There are obviously issues in particular areas where they rise unreasonably as a result of some kind of political mafia taking control of the city, but broadly they rise with the overall economy.

    I agree that they’re too high to begin with of course. E.g. my rural community of 8,000 has a professional fire department for some baffling reason, along with dedicated EMTs.

    I’ll agree that when it comes to wages, deflation seems to be the rule despite the fact that when I was a kid, $1.50 an hour was OK, while I don’t think people can do as well with the commonly offered $12.50 an hour nowadays. Hmmm…deflated inflation?

    No, this is wage inflation. The trouble for workers is that 40-50 years ago wages stopped inflating faster than prices, which they did during the postwar era.

    No inflation? Let’s talk gasoline prices, or are the higher prices due to some magic fairy dust they lace it with nowadays? Ever do a brake job on a car? Take it from me that even with “ceramics” brakes don’t last any longer or function any better than they did when they cost about 90% less.

    Commodities are cyclical. WTI is currently at $70/bbl, wasn’t that long ago it was at $26. In real terms gas prices have been much higher many times in the past, even the fairly distant past like 1979.

    I am a track rat and thus have done a lot of brake jobs–generally go through a couple sets of pads in a weekend. Not old so I don’t know what brake pads cost in the 80s, but I do know from older track rats that they’ve improved a lot (the discs not really).

    And it depends on the product you’re talking about. Everyone and his dog knows that electronics have gotten cheaper for instance. A lot of other manufactured products haven’t necessarily gotten cheaper, but haven’t rise much in price.

    Hence why the BLS has its “basket” of goods and services, which is just an idealized average. Everyone has his own personal basket of goods. Since I don’t consume healthcare or education I’ve seen less inflation than other consumers. Maybe even deflation.

    Since you mentioned car prices, you can’t just look at the sticker price and justify the increase tag price on the quality improvement

    Perhaps you could, but as noted earlier I’m not disputing overall inflation. It’s none the less noteworthy that Ford mid-size sedans have an inflation rate of 2.43% (very close to overall inflation for the period), yet the cars have improved radically (mostly).

    And some inflation is just down to government regulation of course, especially in the case of the auto industry.

    auto manufacturers likely make more money on the financing than on the profit, if any. In other words, all the glitz and glitter and “hedonic adjustments” are essentially “come ons.” Yer not buying a car so much as acquiring debt to look cute ‘n feel good.

    I don’t see how this is relevant at all. Most consumers can’t afford to purchase a new car in cash, and for those of us who can it’s a poor use of capital. Lending money to borrowers is a credit risk, and there is the opportunity cost of alternative investments.

    And it’s not even true. After 9-11 Detroit decided to implement 0% financing for instance. Obviously not profitable–their cost of finance (whatever commercial paper cost in the 00s) was higher than their interest profit (zero).

    Personally I’ve never had a car loan in my life incidentally, but I’ve realized this is unusual.

    It’s long been common knowledge that GMAC was the money maker for GM, which, if I recall was yet another that needed a bailout form the taxpayers.

    GMAC no longer exists. It’s now Ally Financial, an excellent online-only bank.

    GM makes most of its profits from trucks.

    Rather than “common knowledge” you can have a look at GM’s audited financial statements, filed every year with the Securities and Exchange Commission and publicly accessible for free.

    It was once true, now a very long time ago, that most profit came from GMAC. That was an exception in the company’s history and basically an artifact of the late 20th century. GM was for instance the first corporation to earn one billion dollars in a single quarter, done in 1966 on the back of a sizzling car lineup with V-8 engines galore and a booming economy with fast rising incomes.

    Anyway, there’s a lot more that could be said, but who cares? Besides, rurik is right and you apparently have a lot to learn, so snap to it and quit trying to baffle us dumb goyim with BS.

    You guys both clearly know a lot less than I do on these matters. But you’re religious fanatics so it won’t sink in.

  193. @jacques sheete

    McDonald’s is nice for road trips owing to the standardization of the product. I live in a rural area so I am forced to drive a lot.

    I get four double cheeseburgers (made with 100% real beef, now fresh) without buns and a cappuccino. The cappuccinos are quite good, though you need be very clear that you don’t want “flavor” (sugar) and you do want whole milk.

  194. @Achmed E. Newman

    It doesn’t matter how much is TRADED AROUND. If that money dissipated overnight, it’d be a big damn problem for the holders of it. $800 Billion back in 2008 was needed to prop up the too-big-to-fail banks in ’08, and believe you me, it was sure a crisis to those guys.

    Money doesn’t dissipate unless it’s defaulted on. The federal government can’t default unless it wants to.

    $500 billion a day (and, of course, the Federal Reserve’s unlimited buying power) means China can’t wreck the country by dumping its $1.3 trillion in Treasuries.

    There was no crisis in Treasuries in 2008 at all. The most significant crisis was in the commercial paper market, which the Federal Reserve isn’t allowed to conduct open market operations in. Hence my suggestion that China focus on that if it wants to harm us with financial weapons.

    I am very familiar with the talk that “debt doesn’t matter”. That started way back in the 1980′s. However, what can’t go on, won’t go on. At some point, too many people will look at the notes that they’re holding and wonder whether they’re backed by anything.

    I don’t think it doesn’t matter, but the sky isn’t falling. Right now we have federal debt of 100% of GDP along with trillion dollar annual deficits, but we also have low inflation and low unemployment.

    There is some level at which deficits would have to cause unhealthy inflation, and it’s not prudent to have a high national debt as you want surge capacity for economic crises and wars.

    And obviously there’s a debt level where serving the debt would become difficult.

    Maybe you live in NYC or “The City” in London, but Americans are absolutely NOT in good financial shape in general around the country.

    I live in a rural area (though part of the tiny upper class here) and I agree with you. Things are a bit better for ordinary people than they were not too long ago however, and the data shows this. Unemployment has dropped, the workforce participation ratio is growing again after dropping for decades, and the country’s average credit score is now over 700. This of course after decades of people getting hammered.

    Man, you know car loans go out to 6 and 7 years now?

    People being able to spend less money per month on transportation does not strike me as a bad thing. Yes, the total amount paid ends up being higher, but this isn’t bad at all. The monthly savings can be invested at a higher rate of return than the interest on the car loan for any creditworthy borrowers. I realize most people don’t do this, but most people are losers.

    Student debt default rates are in the 15-20 % range of the $1.5 Trillion owed. There aren’t enough decent jobs for most graduates to pay that money back. You don’t get out much if you think that things are going swimmingly economics-wise.

    The education racket is a clear disaster of course. Inflation in America is heavily concentrated in education and healthcare.

    I’m just curious what you think will happen when the FED lets interest rates rise, or how long they can continue this charade of holding them down to almost nothing to prop up the stock market so people can reckon they are doing OK.

    The FED has much less power than you think it has–or than it itself thinks it has. Its continually mystified by why it can’t increase inflation to its target. All it can do it set the overnight rate and conduct open market operations. Most banks don’t even borrow from the FED for their ordinary operations, they get money from depositors (lowest cost of finance) or borrow from the interbank lending market (hence all the fuss about the LIBOR).

    Interest rates have risen less because of the FED’s policy and more because credit origination has increased.

    Note that QE ended in 2014 and interest rates have been rising for awhile now, yet the stock market kept on booming until this year. We’re now in a stealth bear market as earnings keep rising but stock prices are not, so earnings multiples are falling. I expect a fairly lengthy period of mediocre returns in the stock market simply because the past nine years have been so good.

    Most stocks are owned by wealthy people–ordinary people pay attention to their paychecks and bills.

    • Replies: @jacques sheete
  195. @Rick Johnson

    It doesn’t make much sense. The people in charge of protecting capitalism refuse to participate in it. Some people might call that a “clue.”

  196. Giuseppe says:

    I was in a Virginia supermarket the other day checking out when the woman behind the cash register in a perky voice asked me “Will you give $5 to support our troops?” I responded “No. Our troops already get way too much of our money.” She replied, “Hee, hee that’s a funny joke” and I said “It’s not a joke.” Her face dropped and she signaled to her boss over in customer service and asked her to take over, saying that I had been rude.

    I might be preaching to the choir on this, as they say, but what is being described is known as an embedded donation, or embedded giving. An embedded donation is a donation solicited on behalf of a charity or worthy cause by a retail business. Embedded, because when the donation is supposedly finally made, it consists of many donations from many customers solicited by the business but made in the name of the business. Significantly, embedded donations are subject to none of the regulatory red tape that direct contributions to charities are, and are used by companies such as supermarkets to improve their bottom line. For instance, the Virginia supermarket is not required by law to disclose the dollar amount of charitable embedded contributions it takes in on the behalf of some other charitable cause. Sure, they do appear to end up giving something to the charity, but how much? That’s entirely up to the company. The management of a nationwide supermarket chain some years ago refused to reveal what percentage of what they took in was kept back for administrative costs. Their reason? “That is proprietary information.” Proprietary information for how much is withheld from donations, proprietary information like the criteria with which a company may evaluate whether or not to expand into a new location? OK. Just so you know, that information that used to be on the internet, investigative reporting in Portland, OR, was since scrubbed clean. So these interests are powerful enough to remove dissenting voices.

    Embedded donations are without question absolutely evil. They give the appearance of a public service, but never, ever succumb to their shame tactics, like, the checker typically asking for a donation in front of all of the customers standing behind you. They are actually required to do that by their management. You can go online and find anonymous complaints by the employees, who incidentally hate being asked to solicit money for these charities. But even lower level management is kept in the dark about these schemes, so it does no good to complain to a manager. So if you are so inclined to support the troops, donate directly to a worthy cause such as Wounded Warrior. They same applies for breast cancer research, and even, at the pet food store, requests for a donation to help adopt pets. Better to just give directly to the Humane Society. It’s OK to say no.

    Just so you understand, companies engaged in embedded donations will sometimes get the CEO’s of charities to endorse their good work collecting funds from their customers. This is just a fig leaf. Yes, these businesses actually do give money to charities. But from the same funds donated to charity, they keep a lot of money back to improve their bottom line and maybe even give their top level management a nice fat bonus for rallying the troops for charity.

    Always give directly to charities, never donate through supermarkets or pet store chains, etc, etc, unless you want to be in some uncertainty as to what small percentage of your dollar donation will actually make it to the charity in question.

    • Replies: @Thorfinnsson
  197. @Rurik

    you’re admitting to that?!

    To watch what with exactly. Maybe programming is better in your area.

    It’s the best display in its size class you can buy according to Consumer Reports, why deny buying a great product?

    I purchased it for use in our engineering lab, mainly for engineering’s kanban board.

    we buy only ‘pasture raised’ eggs. My gal thinks eating eggs from healthy chickens, who’re ‘happy’ will result in better quality eggs, but for me, I spend the extra money (about $6+ per dozen) for moral reasons. Which is same reason I don’t eat ham or bacon or dogs or cats.

    Not that I judge other people who do, (except when they torture the animals before they kill them, because the meat taste better that way. In which case I’d like to feed such humans to the pigs that I don’t eat).

    And what is the rate of inflation on pastured eggs? I have no idea. One of my employees gives me pastured eggs on occasion.

    Your gal is right with respect to nutrition (but it’s a lot more minor than the gap with chicken meat), though Serious Eats was unable to detect a taste difference in a double blind study. Pastured eggs do look a lot better in the pan.

    Animals exist to serve us, though they should be treated humanely which is a serious problem. Pigs, dogs, and cats aren’t people and thus are fair game. And honestly I’d probably eat a human if presented with the option, just out of curiosity. Not going to claim cannibalism is moral of course.

    the whole rotten and corrupt den on snakes on Wall Street profited massively during the orgy of fraud and theft. Countywide, Shittybank, Goldman Sachs, and all the rest of the thieving scoundrels.

    Countrywide profited so much it went bankrupt.

    CitiBank and Goldman Sachs profited so much they had to beg the government (and Buffet in Goldman’s case) for help.

    They killed Glass so they could loot the Treasury, and loot the Treasury they did.

    Germany and Canada have never had a separation between commercial and investment banking. In fact very few countries other than America did.

    The Treasury didn’t get looted and in fact made a profit on TARP (though it was still inappropriate–the stockholders should’ve gotten wiped out).

    It was a feeding frenzy, with synthetic ‘credit default swaps’, and ‘collateralized debt obligations’ and collateralized derivatives with sub-prime liar loans, and Freddy and Fanny to cover the tracks.

    People who bought credit default swaps got rich.

    People who bought CDOs got hosed.

    And sure, issuers of both earned commissions.

    What’s your point?

    With the SEC carefully looking the other way, hoping to get a gig with Goldilocks making thirty times what they made as regulators.

    The same stability and good times which induce financiers to take risks also leads to deregulating politicians and regulators, even if there is of course a conflict of interest and even corruption at work. The SEC was convinced that modern risk models were so sophisticated that there was no longer any need to limit leverage.

    Greed, and avarice like never seen before. That’s who made the money. All of those rats and swindlers at the big investment banks.

    More like greed and avarice like have been seen…many times before. Remember the dot com bubble?

    And no, the people who made the money were the contrarian bears. Who were widely denounced as crazy lunatics deep into 2007 and even 2008 by everyone else on Wall Street.

    Remember, the big banks had to be bailed out. They lost their shirts.

    and when it all imploded, as it must surely do so again, the big boyz got out first. And then the taxpayer was slated to cover the loses. Just as Robert Rubin, the Dr. Frankenstein of Wall Street/Treasury/Fed corruption and collusion (with his Igor; Lawrence Summers)- planned.

    The Treasury made a profit on TARP. So the taxpayer in fact lost nothing from the bailout, which was wrong for other reasons.

    QE baby! Up the ying and out the yang.

    An orgy of ‘printing’, until the music stops, and only the same people who knew it was coming in 08, will know when it comes this time around. And trillions of dollars of “wealth” will be disappeared over night. There goes your pension.
    QE ended in 2014. Stock market kept surging until this year. Stock prices have grown broadly in line with increased earnings per share and dividends, with some valuation expansion. The stock market grows 80% of the time and has a real CAGR of 8.6% going back to 1871. Quite a lot of financial crises during that time, including many far worse than what happened in 07-08.

    Remember the ratings agencies?

    you know what the ratings agencies remind me of, recently it was revealed that Experian sold, er, I mean lost millions of people’s data. Now they’re on the television running ads for protecting people’s data. I shit you not. You can call them and pay them to “protect” your data from the “dark web’. Wow.

    And the ratings agencies? Yep, they’re still in business. Holy moly.
    Who cares? Bonds are for losers. People who buy them are complete dopes.

    And yes, conflict of interest is at the heart of the business model of the ratings agencies.

    I bet!

    buy a commodity ETF today, and watch as the price is manipulated with the aplomb of a pick pocket. Just hit a few keys on the Fed’s computer, and voila! Silver trades at curious lows, while demand is higher than ever.

    Maybe stop speculating in commodities and just sign up with WealthFront or Betterment.

    it’s a shell game, and its rigged. Works well as long as you’re playing it safe, but then weren’t AAA rated funds eviscerated, (along with people’s pensions) following the 08 crash?

    Yes, and people who bought those were morons anyway. I was in my early 20s at the time, and it was extremely obvious to me that the housing bubble was crazy.

    And as I noted earlier, bonds are for losers.

    If you played it safe by instead buying shares in, say, Berkshire Hathaway, there was no problem. Unless you HAD to retire in exactly 2009 or something.

    Have they instituted hardy reforms to prevent something like that from happening again?

    Some, but I’m not convinced this sort of thing can actually be prevented to begin with. Seems endemic to capitalism.

    they’re going to get screwed because the system is set up to screw them.

    That might be. But specifically they will get screwed because defined benefit pensions are chronically underfunded. Which is why they’re a bad idea to begin with.

    The reason the wealth gap is burgeoning, is because the .01% that run things want it to, and the people who’re being set up to get screwed again, are being lied to by the people who they’re trusting and paying and exalting to positions of power to look out for their interests- the politicians- are the very people betraying them to their enemies.

    We’re just returning to normal. The 20th century was an unusual and historically unprecedented departure from traditional levels of inequality.

    the problem isn’t the commercial banks. The problem is the investment banks, and what used to be a wall (Glass-Steagall) that separated the investment banks from the Treasury, which is now the henhouse being guarded by the jackal.

    Glass-Steagall separated investment banks from bank deposits, not the Treasury.

    This is completely overblown. Most countries never had this separation, and there were many instances of commercial banks under Glass-Steagall blowing themselves up. A great example was the 1982 Latin American debt crisis.

    A potentially more serious problem with banking is that the end of Glass-Steagall along with the great concentration of the big banks perhaps reduces credit origination to rural areas, small business, etc. I’d want to see empirical research on this before leaping to conclusion of course.

    By the way, note that your post here did not have much to do with inflation at all. :)

    • Replies: @Anon
    , @Anon
  198. @Giuseppe

    I didn’t know that, thanks for sharing.

    That’s actually quite clever of the retailers (not saying that it’s good or okay). I assume companies like Wal-Mart donate all (or close enough) of the money to charities as their reputation is worth more, but as you said we have no way of knowing.

    I’ve always objected to the practice simply because ordinary people have trouble resisting this sort of social pressure. I mean you’re not against needy children or whatever, are you?

    I don’t support the objectives of most charities to begin with and have always been comfortable being contrarian, so I’ve never fallen for this. And even if I were interested in donating, why would I make a donation that I can’t itemize on my tax return?

    • Replies: @Liberty Mike
  199. Paul C. says:
    @Anonymous

    The US could be prosperous if not for the parasitic international central bankers who control its currency. This criminal cartel (zionist/jewish) is siphoning the wealth not only of the US but every nation on earth, which is why they’re all in debt. It would defy economics if this were not the case. You would have rich and poor countries, they couldn’t all be insolvent, which is what they are.

    Effectively, we’re all slaves to this illegal cartel. With an unlimited money supply, or should I say currency supply, since it’s not real money, all aspects of society are owned and controlled by them (gov’t, courts, education, etc). Our labor keeps the machine going and we’re forced to pay over 50% in taxes when you add it all up (federal, state, fica, sales) and another sizable % goes to paying interest (mortgage loans etc).

    All 50 states recognize Commercial law (UCC) which is Admiralty law, leaving us without rights. There’s a delicate dance going on to recognize Common law so it’s not obvious to all that we’re slaves to the bankers. The truth is the US is a corporation and all the federal agencies are corporations too.

    We’ve been duped. We need to end the Fed immediately and start a new government of the people.

    The bankers are satanic, they create all wars and are trying to put the final pieces in place (disarm the US through false flags, staged by our gov’t) for the overthrow of the US and likely depopulation, similar to the Bolshevik Revolution. Once the US goes, they’ll have world domination which is what they seek, as outlined in the Protocols of Zion, Morals and Dogma and the Communist Manifesto.

    • LOL: Thorfinnsson
    • Replies: @Thorfinnsson
  200. JackOH says:
    @anarchyst

    anarchist, thanks. That does make sense.

  201. @Mike P

    Ah is that true? I pray that was said in jest

    “World peace” like the one’s we’ve been witnessing from the last 10 or so years?

  202. anarchyst says:
    @Thorfinnsson

    GMAC became a “bank” (Ally) right after the “crash” so that it could partake in TARP bailout funds. As an auto finance arm and not a true “bank” it would have been unable to feed at the federal reserve bailout spigot. This was a smart move that allowed GM to profit off the misery of others.

    • Replies: @Thorfinnsson
  203. @Thorfinnsson

    Better yet, never, ever, donate to big charity.

    Here, in Massachusetts, one is subjected to an incessant campaign to donate to the Jimmy Fund, a charity which purportedly is devoted to the care / cure of all manner of pediatric cancer and which began in 1953 and is sponsored by the Boston Red Sox.

    To wit, many Dunkin Donuts’ franchises will hit you up going through the drive-thru for a donation. No different if you walk in and order. The cashiers are required to ask for the donation at the point of sale. Recently, I met a client and his mother for coffee at a Dunkin Donuts. After the cashier took our order (I picked up the tab), she asked if I would like to donate to the Jimmy Fund, and I responded, “HELL, NO!”

    Same thing at the supermarkets. When there is no person behind me, I will take the time to express my outrage that a business would pimp for the Jimmy Fund. It is an imposition. It demonstrates that the business does not care about its customers.

    I have also encountered this at the movies. Can you imagine?

    Big Charity, particularly the medico-pharmaceutical operations, is a scam.

  204. Anon[290] • Disclaimer says:
    @ChuckOrloski

    you’re too kind Brother Chuck,

    Peace.

  205. @Paul C.

    The US could be prosperous if not for the parasitic international central bankers who control its currency.

    https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita#Lists_of_countries_and_dependencies

    https://en.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult

    https://en.wikipedia.org/wiki/List_of_countries_by_financial_assets_per_capita

    By any measure the USA is one of the most prosperous countries in the world.

    This criminal cartel (zionist/jewish) is siphoning the wealth not only of the US but every nation on earth, which is why they’re all in debt.

    https://en.wikipedia.org/wiki/Net_international_investment_position#List_of_countries_and_regions_by_net_international_investment_position_in_million_USD_according_to_the_IMF

    Actually we’re in debt to foreigners, not the other way around.

    And your language suggests you think debt is something bad.

    You would have rich and poor countries, they couldn’t all be insolvent, which is what they are.

    Insolvency does not mean what you think it means.

    Insolvency means being unable to pay money owed. That describes Venezuela, but not America (or most other countries).

    Effectively, we’re all slaves to this illegal cartel. With an unlimited money supply, or should I say currency supply, since it’s not real money

    ????????????

    The money supply isn’t “unlimited”.

    https://fred.stlouisfed.org/series/M2

    Currently M2 is about $14 trillion.

    And let me guess–only gold and silver are real money, because God himself commanded us to only use specie coins for payments invented in the 7th century BC by the Kingdom of Lydia. Or something.

    The fact that the US Dollar is legal tender valid for all debts public and private, and that just about everyone in the world happily accepts it, is irrelevant. It’s just not real money. Because RON PAUL says so.

    Our labor keeps the machine going and we’re forced to pay over 50% in taxes when you add it all up (federal, state, fica, sales)

    https://www.taxpolicycenter.org/briefing-book/how-do-us-taxes-compare-internationally

    Appears to be 26% of GDP. Of course ymmv depending on your income and which state you live in.

    another sizable % goes to paying interest (mortgage loans etc).

    Do you think people should lend out money for free? A thirty-year non-recourse mortgage with a 4% interest rate is a pretty damn good deal.

    All 50 states recognize Commercial law (UCC) which is Admiralty law, leaving us without rights. There’s a delicate dance going on to recognize Common law so it’s not obvious to all that we’re slaves to the bankers.

    The UCC is an amazing thing. It means I can sue a deadbeat in Louisiana here in Wisconsin, and the judgment will be exported and the Sheriff down in the bayou will head out and seize the deadbeat’s property for me.

    We’ve been duped. We need to end the Fed immediately and start a new government of the people.

    The last thing we need is a government of “the people”, which includes religious fanatics like you.

    The persistent hatred of central banking, fiat money, banks, financial markets, etc. by a dedicated faction of the American population is one of the strangest things about this country.

    You’re not even a moron either based on your writing ability. But you’re completely wrong and passionately committed to it.

    • Troll: Stonehands
  206. @anarchyst

    Sure. Point being GMAC no longer exists, which makes Jacques Sheete’s claim about auto-financing being GM’s main profit center objectively wrong.

    And this is the sort of thing he could’ve discovered in about one minute.

    But people genuinely prefer being wrong because it validates their deeply held irrational beliefs.

    And I supported the auto bailout then and still do today. The auto industry is the bedrock of America’s industrial base. If anything there should be more auto bailouts–the fact that foreign automakers are permitted vast marketshare in America or that Italians are allowed to run Chrysler is obscene.

    • Replies: @Hibernian
  207. Anon[290] • Disclaimer says:
    @Thorfinnsson

    I don’t dispute the existence of inflation. I dispute the idea, common to hard money cranks,

    a great way to think about inflation, is to consider the value of the US dollar for the first hundred or so years of its use. When it was being coined by congress and tied to gold. It basically kept its value for over a hundred years, and you would pay about the same for a quart of milk or pound of coffee, from 1792, to 1913.

    here’s a nice chart that shows an indication of inflation following the treason of the Fed, and then subsequent treason of FDR and then Nixon taking us off the gold standard.

    https://economics-charts.com/cpi/cpi-1800-2005.html

    since the Satanic perfidy of the Fed, (the very evil the founding fathers fought the revolution to prevent, and which Andrew Jackson heroically resisted, to the point of an assassination attempt) Americans purchasing power, which remained virtually unchanged for a hundred or so years before the Fed, has been reduced to app. 2% of the purchasing power the dollar had in 1913. This inflation is due to the international banksters, who own and control the Fed (class A stock holders), ‘printing’ trillions upon trillions of Federal Reserve Notes and loaning them out, (at interest) to their fellow bankster around the world and to the US Treasury. Where now we have to borrow our own money (at interest) from the greediest and most demonic scum on the planet. Rothschild and his cabal.

    And it is because of this biblical level of treachery, that has doomed the planet to serial wars for Israel, ever since.

    Please keep in mind, that America’s entry into WWI was a contrived scheme by Zionists, both in England, with the Balfour Declaration, and in Wilson’s administration, with ((Louis Brandeis and Colonel House)) in the Wilson regime, to betray, destroy and enslave Germany.

    Wilson also funded and facilitated Trotsky to enslave Russia to genocidal Bolshevism.

    He’s often lauded as one of America’s greatest presidents, by the ((PTB)) today, but I’d say he was spectacularly the very worst president bar none. And by his treachery and treason, has doomed the planet to enslavement by the banksters. with their Eternal Wars, and Total surveillance, and burgeoning Orwellian police state, for which there seems to be no redress.

    more here:

    https://libertyinternational.wordpress.com/2013/12/23/federal-reserve-100-years-of-us-dollar/

  208. @Anon

    According to you hard money cranks the most important thing in the world is that a gallon of milk has the same nominal price a century from now.

    That way, when your skeleton is reaniminated and crawls out the ground, you’ll be able to head down to the store and buy a gallon of milk with a two Dollar bill.

    This is just crazy. Moderate inflation is not a problem at all for just about anyone, unless your investing strategy is to stuff your mattress full of hundred Dollar bills.

    The end of the gold standard has led to just about zero negative consequences, whereas the gold standard itself had many negative features.

    And you’re not just crazy about money. You guys have some weird hatred of interest, and somehow our financial system has something to do with Zionism. Ooooookay…

    Not that I’m a fan of Wilson either. Logically we should’ve either stayed neutral, or joined the Central Powers. Joining the Central Powers would’ve allowed us to annex Canada, Bermuda, the British and French West Indies, and perhaps other territories as well.

  209. Anon[290] • Disclaimer says:
    @Thorfinnsson

    Animals exist to serve us,

    now you sound like a Zionist, because that is exactly what they believe about all non-Jews.

    Did you know that? True story, btw.

    as to Animals existing to serve us, I feel that’s the same mentality as a 19th century plantation overseer, vis-à-vis his chattel. Or a Sea World or circus type of mentality where animals should be made to humiliate themselves for our amusement. As if they were put here for that purpose.

    I remember being told as a child (growing up in a Christian household) that animals were put here by God for us to use as beasts of burden or food, or both. That was their purpose, and they didn’t have souls or anything, so whatever you decided to do to them was always OK. They’re just animals after all. Nothing like a feeling, conscious being that actually feels pain or terror or sadness or anything (certainty not love, ha!), so if you’re Michael Vick, and you torture the dog to death who just disappointed you in a fight, then what’s the big deal?

    Or if you’re taste is for dog, and you prefer the bones be broken before it’s killed and cooked, because the trauma the dog goes though enhances the flavor of the meat, they why not?! Right?

    It’s just a damn animal!

    but Vick didn’t invent this charming ‘retribution’

    If they hunt poorly, they are tortured as retribution for the shame they reflected upon their owners.

    The reasoning of the galgueros is that by torturing and killing the dogs they wash away the dishonor the dogs displayed that brought shame to their masters. In reality, the practice is simply an exercise in sadism that involves burning the dogs with acid, dragging them behind cars, sacrificing them to fighting dogs, skinning them alive or burying them alive. The most famous torture is called the “piano dance;” this involves hanging the dog by the neck with the feet just touching the ground as it struggles to breathe and slowly is strangled to death by its movements

    https://www.thedodo.com/the-pain-in-spain-the-saving-of-the-galgos-1102421730.html

    but this is the shit that pisses me off the most

    http://www.dogingtonpost.com/10000-dogs-tortured-annual-yulin-dog-eating-festival/

    the deliberate, sadistic cruelty of burning and boiling dogs and cats alive, and generally being as cruel to them as these animals on two legs are capable of.

    though they should be treated humanely which is a serious problem. Pigs, dogs, and cats aren’t people and thus are fair game.

    personally, I have no problem whatsoever with people eating dogs or cats or even each other if that’s what it comes down to, like the tragic Donner party, for instance.

    But cruelty for cruelty’s sake always gets my blood up. No matter if it’s towards other bipedal animals, or the four legged version.

    The difference between humans and the rest of the animal kingdom is one of degree, not one of kind.

    A chimp feels pain and despair just like you do. It loves its offspring with the same tender devotion that human mothers display. When they’re beaten and cry out, it’s because they feel the pain, just like you would. And if they’re happy or contented, you can see it on their faces, just like with a human.

    the things we ‘humane’ and ‘divine’ beings who have ‘souls and compassion’ and are ‘civilized’ – do to our fellow creatures

    because they’re just animals, convinces me that we are a whole hell of a way far off from having evolved from the slime.

    In fact, someone once asked me, ‘if we’re related to the apes, then were’s the missing link?

    well, look in a mirror. Because we’re the missing link. And if we ever do evolve into something resembling a creature that a God would be proud of, (if we don’t blow the whole place up first) then we’ll be a people that recognizes that animals too, also are entitled to dignity and empathy.

    all for now.

    I’ll get to the economic later. It’s just that animals are an issue that I’m keen on.

    • Replies: @Thorfinnsson
    , @anarchyst
  210. Anon[290] • Disclaimer says:
    @Thorfinnsson

    The SEC was convinced that modern risk models were so sophisticated that there was no longer any need to limit leverage.

    wow, everything you’re saying is a crock of shit

    you’re an apologist for the scum on Wall Street who looted Main Street

    we’ll have to get to the bottom of this swamp

    Remember, the big banks had to be bailed out. They lost their shirts.

    they “had” to be bailed out because the orgy of fraud blew up in their greedy faces.

    because they were betting on massive margins that were insane, and only worked as long as the Ponzi scheme of graft was in full swing, just like today.

    Just consider the case of Jon Corzine, and how he looted depositor’s funds. He wasn’t even charged for this fundamental financial crime. The kind of crime that destroys confidence in the system, but because he’s connected, they didn’t even slap his wrist.

    the whole system is corrupt and rotten from top to bottom, and you’d try to run cover for that lot?!

    Have they instituted hardy reforms to prevent something like that from happening again?

    Some, but I’m not convinced this sort of thing can actually be prevented to begin with. Seems endemic to capitalism.

    utter bullshit

    just reinstating Glass would be huge. A iron wall between the investment banks and the Treasury.

    (Yes, deposits insured by the Treasury)

    if the scumbags on Wall Street know in no uncertain terms that they are going to be left holding the bag for their casino loses, the culture on Wall Street would change in a New York second.

    And I suspect that you know that. But you’re a cheap shill for the corrupt system, huh?

    We’re just returning to normal. The 20th century was an unusual and historically unprecedented departure from traditional levels of inequality.

    more bullshit

    A potentially more serious problem with banking is that the end of Glass-Steagall along with the great concentration of the big banks perhaps reduces credit origination to rural areas

    yea, I bet

    here ya go…

    https://www.rollingstone.com/politics/news/jefferson-county-alabama-screwed-by-wall-street-still-paying-20110407

    • Replies: @Thorfinnsson
  211. Anon[290] • Disclaimer says:
    @Thorfinnsson

    According to you hard money cranks the most important thing in the world is that a gallon of milk has the same nominal price a century from now.

    no, (shithead)

    the most important thing is not to be forced to use fiat money, created out of thin air, by scumbag bankers- who loot the value of your savings by inflating the money supply and driving down the value of your savings. But most of all, who use the power to create infinite supplies of money to corrupt our governments and institutions. Duh.

    Moderate inflation is not a problem at all for just about anyone, unless your investing strategy is to stuff your mattress full of hundred Dollar bills.

    not when they should be gambling in your rigged casino, huh?

    The end of the gold standard has led to just about zero negative consequences, whereas the gold standard itself had many negative features.

    this is of course true if you’re a Rothschild or Lloyd Blankfien. Not so much if your son just got killed fighting in a contrived war for the fun and profit of Zionists.

    and somehow our financial system has something to do with Zionism. Ooooookay…

    you just outed yourself as a pathetic zio-troll

    well done ;)

    • Replies: @Thorfinnsson
    , @MarkinLA
  212. @Anon

    now you sound like a Zionist, because that is exactly what they believe about all non-Jews.

    Did you know that? True story, btw.

    I’d say this has worked out well for the Jews in general. They’ve been around for thousands of years and have achieved high levels of success, wealth, and power.

    as to Animals existing to serve us, I feel that’s the same mentality as a 19th century plantation overseer, vis-à-vis his chattel.

    Most people freely enslave themselves. I don’t see what the big deal is.

    And we’re talking about blacks here, who are completely useless for any purpose unless enslaved.

    Or a Sea World or circus type of mentality where animals should be made to humiliate themselves for our amusement. As if they were put here for that purpose.

    I remember being told as a child (growing up in a Christian household) that animals were put here by God for us to use as beasts of burden or food, or both. That was their purpose, and they didn’t have souls or anything, so whatever you decided to do to them was always OK. They’re just animals after all.

    This is a useful belief that facilitates the efficient exploitation of animals. Animals provide us with important nutrition, products, and labor.

    Nothing like a feeling, conscious being that actually feels pain or terror or sadness or anything (certainty not love, ha!), so if you’re Michael Vick, and you torture the dog to death who just disappointed you in a fight, then what’s the big deal?

    Or if you’re taste is for dog, and you prefer the bones be broken before it’s killed and cooked, because the trauma the dog goes though enhances the flavor of the meat, they why not?! Right?

    It’s just a damn animal!

    Look, I happen to be a dog lover and do not approve of cruelty to animals. But I promote self-interest over feelings. We empathize with mammals because they are very similar to us.

    I read some sad stuff about how dachshunds suffered during the world wars as a result of anti-German sentiment. As if dachshunds were to blame for the German army.

    http://dachshundlove.blogspot.com/2008/03/dachshunds-in-history-mimi-most.html

    http://www.easypetmd.com/doginfo/anti-dachshund-propaganda

    None the less as the world’s apex carnivore predator and #1 engineering species the entire ecosystem is our domain.

    As for the rest of your stuff, cruelty for cruelty’s sake is disgusting. And tolerating animal cruelty likely has negative consequences beyond simply the emotional distress we feel when we see animals abused.

    But I won’t be shaken from my view that animals exist to serve us and that vegans and vegetarians are our enemies and must be destroyed.

  213. @Anon

    Anon # 290 profoundly wrote:
    “since the Satanic perfidy of the Fed, (the very evil the founding fathers fought the revolution to prevent, and which Andrew Jackson heroically resisted, to the point of an assassination attempt) Americans purchasing power, which remained virtually unchanged for a hundred or so years before the Fed, has been reduced to app. 2% of the purchasing power the dollar had in 1913.”

    Amen, Brother # 290!

    Thanks very much for the education.

    • Replies: @Rurik
  214. Anon[290] • Disclaimer says:
    @Thorfinnsson

    We empathize with mammals because they are very similar to us.

    in exactly the same way we empathize with our loved ones.

    Juliet’s love for Romeo was an expression of the same human repertoire of emotional empathy that a boy’s love for his dog is also part of.

    one is not more valid than the other, simply because it crosses a vague line between species.

    I’m not saying dogs should be given the same legal status as a human, but that they should be protected from fiends who would be cruel to them, yes.

    the entire ecosystem is our domain.

    to over-populate with bipedal consumer farm animals/tax units/cannon fodder until it’s raped clean of all other life forms.

    I wish I was just speaking theoretically about that, but what I said is going on now, with a snowballing and probably irreversible trajectory.

  215. Rurik says:
    @ChuckOrloski

    [The problem should now have been fixed and you should go back to using your "Rurik" handle and your current email.]

    Amen, Brother # 290!

    thanks Brother Chuck!

    I don’t know what I’m doing wrong. I picked a specific email address, the same one I was using yesterday, and yet today the software is telling me that I’m not Rurik, but I am!

    I don’t want to be a hassle to the moderators, so as long as I’ve messed things up somehow, I guess I’m 290 for now.

    Peace.

  216. @Anon

    you’re an apologist for the scum on Wall Street who looted Main Street

    Main Street got a lot of houses that they didn’t pay for, leading Wall Street to go bust. Of course a lot of people made money along the way, and not all on Wall Street. No doubt realtors did quite well during that time.

    What was looted from Main Street exactly?

    they “had” to be bailed out because the orgy of fraud blew up in their greedy faces.

    The had to be bailed out owing to their role in originating credit. Banks blow up from time to time.

    The bailouts should’ve wiped out the stockholders of course, as the Swedes did with the financial crisis in the early 90s.

    because they were betting on massive margins that were insane, and only worked as long as the Ponzi scheme of graft was in full swing, just like today.

    Correction, it only worked as long as rates stayed low enough that the poor quality borrowers could still service the mortgages they never should’ve been issued.

    And it was strictly speaking not a Ponzi scheme in that it involved nothing pyramidal.

    Where’s the graft today exactly?

    Just consider the case of Jon Corzine, and how he looted depositor’s funds. He wasn’t even charged for this fundamental financial crime. The kind of crime that destroys confidence in the system, but because he’s connected, they didn’t even slap his wrist.

    Corzine didn’t have depositors because MF Global wasn’t a bank. That said, yes, the guy should be in prison.

    the whole system is corrupt and rotten from top to bottom, and you’d try to run cover for that lot?!

    Yeah, because I’m not a hard money crank.

    What exactly is corrupt and rotten about Vanguard? How about Charles Schwab?

    utter bullshit

    just reinstating Glass would be huge. A iron wall between the investment banks and the Treasury.

    (Yes, deposits insured by the Treasury)

    As noted before, the commercial banks blew themselves up lots of times during the Glass-Steagall era, most notably the 1982 Latin American debt crisis. The was also the collapse of Continental Illinois Bank in 1984 and the Savings & Loan collapse in 1989. No ties whatsoever to securities.

    You also never addressed the fact that most other countries never separated commercial and investment banking. There has never been such a separation in Germany for instance, and insider trading was in fact legal there until 1995.

    if the scumbags on Wall Street know in no uncertain terms that they are going to be left holding the bag for their casino loses, the culture on Wall Street would change in a New York second.

    And I suspect that you know that. But you’re a cheap shill for the corrupt system, huh?

    Prior to the Savings & Loan crisis I don’t believe Wall Street was ever bailed out by Congress (which refused to act on the 1982 Latin American debt crisis), though there were actions by the FDIC (which charges insurance premiums incidentally) and the FED.

    But there was a time when those didn’t exist either.

    And yet panics, collapses, bank failures, depressions, etc. were more or less routine. Jay Cook certainly didn’t get bailed out in the Panic of 1873.

    It’s endemic to capitalism and goes back to the 17th century Netherlands, if not earlier.

    more bullshit

    What Thorfinnsson is saying hurts my feelings so it must be bullshit.

    Did you miss out the whole brouhaha when Picketty published his book on inequality? Prior to the 20th century inequality was massive and had been so for about seven hundred years. Records further back weren’t available, but it’s safe to say there was plenty of inequality going all the way back to the invention of agriculture and the formation of states.

    Gregory Clark in his surname studies of England, Florence, Sweden, and China that social mobility today is really no different than it was in the Middle Ages.

    yea, I bet

    here ya go…

    https://www.rollingstone.com/politics/news/jefferson-county-alabama-screwed-by-wall-street-still-paying-20110407

    This doesn’t relate to what I said. Here Wall Street did in fact originate credit to a flyover country borrower, just to the disadvantage of the unsophisticated locals who don’t know the difference between the LIBOR and a wild boar.

    Probably would be a good idea for state legislatures to pass laws prohibiting local governments from entering into swap agreements without the approval of the state comptroller or something.

    Bottom line is you have no idea what you’re talking about and are motivating by an irrational, passionate hatred of banks and money. This is such a strange religion. And you’re angry that I’m not part of your cult.

  217. Paul C. says:
    @Thorfinnsson

    By any measure the USA is one of the most prosperous countries in the world.

    $21T in debt is prosperous? Can you name one nation that is not in debt? Why are they all in debt if they’re creditor nations? A topic for another time is that this debt is bogus.

    Do you understand that the Federal Reserve is a private bank? What families control the Federal Reserve and what are their countries of origin?

    Do you realize there’s a private central bank in every nation? If you disagree, cite one nation that does not have a private central bank.

    The criminal banking cartel has every nation in a vise.

    The money supply isn’t “unlimited”. Currently M2 is about $14 trillion.

    The money supply is whatever the Federal Reserve bankers deem it to be. Since the Fed has not been audited, we have no insight into this criminal enterprise.

    Do you think people should lend out money for free? A thirty-year non-recourse mortgage with a 4% interest rate is a pretty damn good deal.

    Why do we need a private bank? Imagine if the interest income went to the US Treasury, we wouldn’t need an income tax. It’s no coincidence the IRS was introduced at the same time the Federal Reserve was established in 1913.

    The last thing we need is a government of “the people”, which includes religious fanatics like you.

    The parasitic, satanic, zionist, criminal banking cartel’s religion is that of the Talmud. Other evidence of their “character” is documented in the Protocols of Zion, Morals and Dogma and the Communist Manifesto, most of the 10 planks have already been established in the US.

    You’re okay with these religious fanatics controlling over us, censoring speech and criticism of Israel and in general the hate speech their doctrines exude, but a government that serves the wishes of “the people” is something you take issue with?

    • Replies: @Thorfinnsson
  218. @Anon

    no, (shithead)

    Off to a great start. :)

    the most important thing is not to be forced to use fiat money, created out of thin air, by scumbag bankers- who loot the value of your savings by inflating the money supply and driving down the value of your savings.

    Why is this important at all?

    Do you keep your savings in the form of cash stuffed under your mattress?

    Have you ever heard of Vanguard dude?

    But most of all, who use the power to create infinite supplies of money to corrupt our governments and institutions. Duh.

    Yeah, so obvious…

    They don’t create infinite money. The money supply grows at a fairly steady rate.

    The #1 think banks originate money for is home mortgage lending. So they’re corrupting Americans into…buying houses.

    The horror…

    not when they should be gambling in your rigged casino, huh?

    The compound annual growth rate of the S&P 500 going back to 1871 is 8.6%. Yeah it’s rigged all right…rigged in favor of buy-and-hold equity investors.

    this is of course true if you’re a Rothschild or Lloyd Blankfien. Not so much if your son just got killed fighting in a contrived war for the fun and profit of Zionists.

    The Rothschilds were more wealthy and powerful under the gold standard than they are today. Goldman Sachs did well in the gold standard era as well.

    I’m not an Israel Firster or a supporter of our idiotic foreign policy, but tying these things to the abolition of the gold standard is the dumbest thing I’ve ever heard.

    American populists in the 19th century were in favor of inflation. They referred to the imposition of the full gold standard in 1873 as the Crime of ’73 and launched the Free Silver movement in response. William Jennings Bryan delivered his famous Cross of Gold speech in Chicago in 1896, accusing the bankers of wishing to crucify the farmers on a cross of gold.

    Do you think that William Jennings Bryan and 19th century American farmers were pawns of the ZIONISTS?

    Or how about Thomas Edison, who supported fiat money and what is now known as Modern Monetary Theory?

    “A country than can issue a Dollar bond can surely issue a Dollar bill.” -Thomas Alva Edison

    Henry Ford, that notorious Zionist, was another proponent of fiat money and MMT. :)

    The bottom line is that bankers, unsurprisingly, understand money. Unfortunately greed and FOMO causes them to blow up the economy from time to time. Suckers, like you, don’t. In the 19th century you would’ve been part of the Free Silver movement and thunderously denouncing the Gold Ring.

    you just outed yourself as a pathetic zio-troll

    well done ;)

    Yeah dude.

    Totally nailed it.

    • Replies: @MarkinLA
    , @jacques sheete
  219. Jeff77450 says:
    @Carlton Meyer

    Disclaimer, I’m a retired E-8. The following isn’t profound but the pay/benefits package of any “nonprofit” isn’t determined by market-forces of supply-and-demand to the extent that jobs in private industry are. What’s the dollar value of being willing to be underwater in a submarine for 60+ days? I don’t know but frankly it sounds like a form of torture to me. How much is long separations from family worth? For missing your child’s first steps or first little league game? I don’t profess to know but you’ve got to pay servicemen/women enough for them to be willing to make those sacrifices. The fact that the armed forces have minimum entrance standards re. health, IQ, education, absence of a criminal record “artificially” restricts the labor-pool and thus pushes pay higher.

    In general you get what you pay for. We could reduce the pay/benefits for members of the armed forces but the quality of applicants would drop as well; less so when the economy is bad and jobs are scarce and more so when the economy is good.

    Let’s conduct a thought experiment: literally everyone in America decides that serving in the armed forces is for losers or is otherwise too much trouble. So we have no armed forces. What is the end result of that? It probably would not result in amphibious landings on the East & West coasts as suggested in the alternative history tv series _The Man in the High Castle_. The various bad actors of the world, e.g. Russia, China, Iran and N. Korea would proceed to “act out” against their neighbors more so than they already are. Taiwan would almost certainly have to capitulate to China. Our various interests around the world, as well as those of some of our allies, would be attacked or would experience forms of extortion. Strangleholds on strategic trade choke-points. Yes, the free ride that Europe, Japan and others have been enjoying for 73 years would come to an end and they’d have to make some hard choices between “guns and butter,” as the economists say. (*That* thought fills me with a malevolent glee). I doubt that Mexico would actually try to retake the Southwest but criminal elements would be emboldened.

    Someone once described the armed forces as “a necessary evil.” The armed forces generate *tremendous* waste but I don’t see an alternative.

    • Agree: anarchyst
  220. Sam Shama says:
    @Thorfinnsson

    Oh Dear G’d how did I miss this exchange until now?!!!!

    Thorfinsson, I offer my most delighted congratulations to you. I have in the past attempted to discuss the very same items with Rurik, Jacques Sheete, CanSpeccy, amongst others, and failed to penetrate the Luddite barrier.

    You’ll notice how the rambling posts [particularly from Rurik] will move away from the objective points when cornered. For instance on the subjects of Inflation and Debt. Jacques Sheete, of course, resorts to tinny laughter and repetition, as if, like phlogiston alchemy, tinny laughs will convert his nonsense to something resembling value!

    My most favourite extract from your posts has to be this one:

    According to you hard money cranks the most important thing in the world is that a gallon of milk has the same nominal price a century from now.

    That way, when your skeleton is reanimated and crawls out the ground, you’ll be able to head down to the store and buy a gallon of milk with a two Dollar bill.

    Hahahahahahaha. May I use it?

    It does get the point across to these estimable gents far more effectively than a chart of the real per capita gross domestic product as a means to show that while the price of milk has gone from whatever it was in the past to what it is now, real income has more than bested those price rises. Not to mention how the prices of more salient items today, e.g DRAM prices have steadily declined.

    P.S.
    Rurik, Sheete, I must congratulate the two of you though. There is a certain canine determination about your attitudes. Never let go of the useless bone. :-)

    (https://fred.stlouisfed.org/series/A939RX0Q048SBEA

    • Replies: @ChuckOrloski
    , @Rurik
  221. @Thorfinnsson

    In the case of leftist beating upon QB Michael Vick, Thorfinnsson issued an encyclical: “Look, I happen to be a dog lover and do not approve of cruelty to animals.”

    Were I endowed with elite ZUS Jew power, I’d immediately give former-Eagle QB, Michael Vick, a dual honorary-degree for psychology and administrative law.

    Afterward, Michael Vick would be appointed Special Prosecutor and taskEd with investigating what degree of torture Ms. Gina Haspel helped inflict upon humans during her Thailand-based CIA management stint.

    For sake of auld lang syne, Thorfinnsson, below is old news about the (Z)American Psychological Association’s “collaboration” and pet-like “justification.”

    https://mobile.nytimes.com/2015/05/01/us/report-says-american-psychological-association-collaborated-on-torture-justification.html

    P.S. Am pleased you profess to be a “pet lover.”. You have more moral high ground than some cranky U.S. Mailmen who persist to complain about getting occasionally attacked by terrorist Pit Bull.

  222. @Paul C.

    $21T in debt is prosperous? Can you name one nation that is not in debt? Why are they all in debt if they’re creditor nations? A topic for another time is that this debt is bogus.

    Why do you have such an irrational fear and hatred of debt?

    One man’s debt is another man’s asset. A higher government debt means that the private sector has a relatively higher net worth, though some federal debt is owned by the Federal Reserve and various government agencies.

    And most debt held by the public is held by Americans, so in effect we owe this money to ourselves. Also worth noting the federal government owns a lot of assets. The oil and gas on federal land and water is worth around $200 trillion.

    Can I name one nation not in debt? Probably not, because apparently no countries are run by religious fanatic morons with a bizarre fear and hatred of debt.

    Why are creditor nations in debt? Probably for the same reason I use credit cards to buy things and buy equities with margin debt at 2.25% interest rate (thanks Interactive Brokers!). Convenience, the opportunity cost of deploying capital, and that leverage magnifies returns.

    Do you understand that the Federal Reserve is a private bank?

    Yes, and I don’t care because it fulfills its public function very well. The private thing is overblown given that profits earned by the FED are all remitted to the Treasury and the President of the system is appointed by the President and confirmed by the Senate.

    What families control the Federal Reserve and what are their countries of origin?

    The regional reserve banks are owned by the banks in that system. In light of the fact that the Federal Reserve acts as a clearing house for interbank payments and is the lender of last resort to banks, what’s the problem?

    See the FED’s article here: https://www.federalreserve.gov/faqs/about_14986.htm

    Do you realize there’s a private central bank in every nation? If you disagree, cite one nation that does not have a private central bank.

    There’s a central bank in every nation because free banking was tried and found lacking. The clearing banks routinely failed, which meant during panics banks couldn’t pay each other.

    Not all countries have private central banks either, some are publicly owned.

    The Bundesbank, Bank of Spain, People’s Bank of China, and the Central Bank of Russia are all publicly owned to my knowledge.

    The money supply is whatever the Federal Reserve bankers deem it to be. Since the Fed has not been audited, we have no insight into this criminal enterprise.

    The FED isn’t that powerful, and auditing it wouldn’t tell us what the money supply is because most money isn’t at the FED at all.

    The vast majority of money supply is originated by the banks themselves, not the FED.

    The only controls the FED has over the money supply is setting the overnight rate (generally banks get their reserves from depositors or other banks instead of the FED) and through its open market operations (e.g. the much maligned Quantitative Easing).

    The money supply also expanded (and contracted) before the FED’s existence.

    Why do we need a private bank?

    We don’t. But there’s also no need for the bank to be public. Important thing is that it does its job right.

    But we do need a clearinghouse that can’t fail, and with fractional reserve banking it’s a very good idea to have a lender of last resort.

    Imagine if the interest income went to the US Treasury,

    Are you kidding me? You want the Treasury Department to originate mortgages?

    we wouldn’t need an income tax.

    Yeah because the federal government would become the largest lender in the country.

    It’s no coincidence the IRS was introduced at the same time the Federal Reserve was established in 1913.

    Yes, because they were both part of the Progressive reform movement to modernize the nation’s financial system.

    The parasitic, satanic, zionist, criminal banking cartel’s religion is that of the Talmud. Other evidence of their “character” is documented in the Protocols of Zion, Morals and Dogma and the Communist Manifesto, most of the 10 planks have already been established in the US.

    You’re okay with these religious fanatics controlling over us, censoring speech and criticism of Israel and in general the hate speech their doctrines exude, but a government that serves the wishes of “the people” is something you take issue with?

    Who said I’m an Israel Firster or that I support the ridiculous anti-BDS censorship movement?

    I’m not okay with their control, but I’m also not okay with a government that serves the wishes of “the people”.

  223. Sandmich says:
    @Verymuchalive

    Once China and others start dumping US Treasury Bonds, that will be over.

    That’s not how that works; China would basically have to go cold turkey on their trade surplus with the U.S., only then would they not need the Bonds. Fat chance of that happening though. More likely is the U.S. Congress generating more debt than can be sponged up by even the most aggressive debt lovers (like China), and at that point there will be “issues”.

  224. Rurik says:
    @Thorfinnsson

    Main Street got a lot of houses that they didn’t pay for, leading Wall Street to go bust.

    not Main Street, but illegal aliens and ghetto denizens

    the whole rotten scheme began with Bubba’s and Maxine Waters intention to get Whitey to pay for Jose’s and Jamal’s houses, by using GSEs like Freddie and Fannie to provide cover for the tax payer to cough it up, when Jamal and Jose default, as surely they would.

    So the Fed and these GSEs all ran cover for the mass-looting, that you seem to be saying never happened.

    if a liar loan isn’t fraud, then what is?

    if ‘synthetic collateralized default derivatives’ aren’t instruments of financial duplicity and graft, then what is?

    they packaged sub-prime, liar loan, bullshit and called them triple A rated investments, and sold them to people. How is that not an orgy of greed and theft?

    The had to be bailed out owing to their role in originating credit. Banks blow up from time to time.

    not if they’re properly regulated.

    and whose job is it to regulate these banks, and make sure they’re not betting on massive and disastrous margins? The Fed, that’s who. The people who’re given the job of protecting the economy, and making sure the banks are solvent and sound, were the very people pumping oceans of cheap credit into the caldron of greed.

    It was all so very rank and vile, that it’s like wading into a septic tank just writing about it all, and remembering how rotten and corrupt it all was, and is.

    What was looted from Main Street exactly?

    have you seen Main Street lately?

    compare it to Wall Street, where they don’t create or make anything. Where all their massive profits are all just theft and usury and graft. Like this bottomless pit of greed

    or this one

    And it was strictly speaking not a Ponzi scheme in that it involved nothing pyramidal.

    the pyramid was the people who had gotten in at the beginning of the bubble, just like the dotcom bubble, and then rode it up until the never ending slew of sub-prime (turds with lipstick) liar loans mortgages imploded the system.

    That said, yes, the guy should be in prison.

    last I heard he was trying to start another hedge fund

    Prior to the Savings & Loan crisis I don’t believe Wall Street was ever bailed out by Congress

    it’s all a matter of the scam du jour. S&L, dotcom, housing, now it’s housing redux. This time it will be even bigger. Remember your pension?

    social mobility today is really no different than it was in the Middle Ages.

    we’re returning to feudalism, and it isn’t a natural progression of human societies, rather this is a top down orchestrated looting of the Middle Class by the 1%.

    you have no idea what you’re talking about and are motivating by an irrational, passionate hatred of banks and money.

    not banks and money per se, but the Fed and their fiat money (weapon to enslave the planet).

    and you know, I’m not opposed to fiat money in every case. Sure, it tends to lead to Weimar/Zimbabwe type of crazy printing, but if it were being managed with the interests of the American people in mind, then that might be something.

    But the way it’s orchestrated now, with the Rothschild cabal loaning our money out in secret deals to their buddies in the ECB or Asia somewhere, with the intention of destroying the American and European middle classes and using their children in endless wars for Israel, I don’t approve of it. Not hardly.

    You may pretend that controlling the credit of a nation like the ZUSA doesn’t impart any special powers to the banksters who do so, but that would be laughed at by anyone who’s looked into this abyss of chicanery even in the slightest.

    By handing out trillions of dollars at zero interest to other banks, who turn around and loan that out with interest to the American public, they picking winners and losers, and Main Street America is not one of the winners.

    Rather, they’re slated for replacement by Third World-ers who make better slaves.

    all of this is orchestrated by Zionist Jews, and that is why the ZUS and NATO are engaged in endless wars for Israel. Duh.

    In fact that last bit is so glaringly obvious to anyone with an IQ above room temperature, that your obtuse, disingenuous dissembling to the contrary, is more telling than not.

  225. @Sam Shama

    Post-LioniZing Thorfinnsson, Sam Shama added:
    “P.S. Rurik, Sheete, I must congratulate the two of you though. There is a certain canine determination about your attitudes. Never let go of the useless

    Hi Maven,

    Trust Rurik & Jacques Sheete won’t quite cross-over River Styx muddy side and inculcate the “canine determination” like W. Bush Neoconservatives’ Iraq Commander, Sanchez?

    Refer to the personal testimony of a ZUS tortured “non-compliant” Iraqi, below?

    • Replies: @jacques sheete
  226. Rurik says:
    @Thorfinnsson

    One man’s debt is another man’s asset.

    the truth bubbles through

    A higher government debt means that the private sector has a relatively higher net worth,

    wow

    did you get that? Debt is good!

    though some federal debt is owned by the Federal Reserve and various government agencies.

    you betcha

    The private thing is overblown given that profits earned by the FED are all remitted to the Treasury

    we know that because they tell us so. And they would never lie. They’re banskters after all would they lie?!

    But just to be sure, the Fed has never been audited and they won’t allow it. Not because there’s anything untoward going on there! But just because they are beyond reproach, and anyone who doubts that is an anti-Semite!

    The FED isn’t that powerful.

    I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world – no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.

    ~ Woodrow Wilson

    but we should remember the words of wise man

    “one man’s debt is another man’s asset” !

    you see.

    the Fed has no power, except over the congress and over the president of the United States and over the economy and banks

    The vast majority of money supply is originated by the banks themselves, not the FED.

    where do they get that money? Where does it originate?

    the President of the system is appointed by the President and confirmed by the Senate.

    like this guy?

    https://www.haaretz.com/.premium-stanley-fischer-superhero-of-israel-1.5227758

    https://www.haaretz.com/israel-news/business/stanley-fischer-carves-out-fed-role-1.5264524

    I’ve got to go take a shower or something. I feel like I’ve been walking in a sewer.

    • Replies: @Thorfinnsson
  227. Paul C. says:
    @Thorfinnsson

    I can respond to each of your remarks and explain why they’re wrong. But ultimately we see things differently. You’re either misinformed or purposefully playing dumb.

    http://humansarefree.com/2011/02/everything-about-rothschild-zionism.html

    Those who control the purse strings control the nation. You have no problem with the banksters control of the US, and more wars for Israel. You haven’t commented on the Talmud, the Protocols of Zion, Morals and Dogma and the Communist Manifesto. This is the ideology of the international banking cartel who rule us. You’re more concerned with “we the people”.

    Who said I’m an Israel Firster or that I support the ridiculous anti-BDS censorship movement?

    I’m not okay with their control, but I’m also not okay with a government that serves the wishes of “the people”.

    When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
    We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

    You’re clearly an Israeli-Firster if you support the Fed and our government in its current form and since you hold “we the people” in contempt, I assume you’re a fascist.

    • Replies: @Thorfinnsson
  228. Rurik says:
    @Sam Shama


    and buy a gallon of milk with a two Dollar bill.

    Hahahahahahaha. May I use it?

    wow, Sam the Zionist of all people gushing over an apologist for the ((Fed))!

    who would have thought that an apologist for Wall Street corruption and fraud, would attract an apologist for Wall Street corruption and fraud?!

    what are the chances that these two peas in a pod share other affinities?

    • Replies: @Sam Shama
  229. Sam Shama says:
    @Rurik

    not Main Street, but illegal aliens and ghetto denizens

    Prove it. Ludicrous statement. Homeownership rates have varied around 65%-69% of households. There are roughly 125 million households. What percentage of that are ” illegal aliens and ghetto denizens”?

    So the Fed and these GSEs all ran cover for the mass-looting, that you seem to be saying never happened.

    CDO investors, domestic and foreign, lost money. Those that shorted the housing market made out fabulously. Taxpayer bailout of banks had their money returned with handsome profits, which included interest plus capital gains from preferred shares, as in the case of the Treasury completely sweeping the revenues of the GSE’s post-crisis.

    You don’t know what you are talking about.

    the pyramid was the people who had gotten in at the beginning of the bubble, just like the dotcom bubble, and then rode it up until the never ending slew of sub-prime (turds with lipstick) liar loans mortgages imploded the system.

    A bubble is not necessarily a pyramid scheme. Have you heard of the Tulip Bulb Mania? There was no pyramid scheme with the mortgage market.

    we’re returning to feudalism, and it isn’t a natural progression of human societies, rather this is a top-down orchestrated looting of the Middle Class by the 1%.

    We do have a problem of unequal income distribution. That needs to be addressed. However, it is not the result of any conspiracy. More likely the result of unequal abilities, that of technological advancements leaving many behind.

    not banks and money per se, but the Fed and their fiat money (weapon to enslave the planet).

    and you know, I’m not opposed to fiat money in every case. Sure, it tends to lead to Weimar/Zimbabwe type of crazy printing, but if it were being managed with the interests of the American people in mind, then that might be something.

    “Not banks per se”…..you say. I see after having ranted against Goldman Sachs, and the banking system in general which originated the Mortgages!

    I think you cannot keep track of the BS you’ve spewed by now.

    “…and you know I am not opposed to fiat money in every case….” What a sage you are! Really. Pray, tell specifically what are the hallmarks of a sound money system. Wait, perish the thought; I already know the BS that’s going to spew forth.

    the Rothschild cabal loaning our money out in secret deals to their buddies in the ECB or Asia somewhere,

    Hahahahaha. Secret deals eh? Well if they were so secret, were you the fly on the wall watching the proceedings?

    You may pretend that controlling the credit of a nation like the ZUSA doesn’t impart any special powers to the banksters who do so, but that would be laughed at by anyone who’s looked into this abyss of chicanery even in the slightest.

    The credit of the nation, the Sovereign that is, is primarily determined by the real growth of the economy, the budget deficits and therefore the appetite of global investors for US Bonds. Last time I checked the yield on the 10-yr US Treasury sits at 3.1%. Not very distressed is it?

    By handing out trillions of dollars at zero interest to other banks, who turn around and loan that out with interest to the American public, they picking winners and losers, and Main Street America is not one of the winners.

    Rather, they’re slated for replacement by Third World-ers who make better slaves.

    Banks move credit between each other, roughly speaking at the FFR [plus a spread sometimes]. Since banks loan money to the American Public, by your own admission, how is that choosing winners and losers? Is Main Street not the American Public?

    all of this is orchestrated by Zionist Jews

    Ahhh, you finally got to the point!

    In fact that last bit is so glaringly obvious to anyone with an IQ above room temperature, that your obtuse, disingenuous dissembling to the contrary, is more telling than not.

    An objective explanation of the monetary system, debt and inflation, is anything but dissembling.

    You don’t know what you are talking about.

    • Replies: @Rurik
    , @ChuckOrloski
    , @Rurik
  230. @Rurik

    not Main Street, but illegal aliens and ghetto denizens

    the whole rotten scheme began with Bubba’s and Maxine Waters intention to get Whitey to pay for Jose’s and Jamal’s houses, by using GSEs like Freddie and Fannie to provide cover for the tax payer to cough it up, when Jamal and Jose default, as surely they would.

    So the Fed and these GSEs all ran cover for the mass-looting, that you seem to be saying never happened.

    if a liar loan isn’t fraud, then what is?

    if ‘synthetic collateralized default derivatives’ aren’t instruments of financial duplicity and graft, then what is?

    they packaged sub-prime, liar loan, bullshit and called them triple A rated investments, and sold them to people. How is that not an orgy of greed and theft?

    Well, these are all fair points, though a number of white people get pretty into house flipping during that time.

    I don’t see anything fundamentally wrong with CDOs, which are useful products for income investors. The trouble wasn’t the CDOs per se but the underlying MBSes.

    not if they’re properly regulated.

    and whose job is it to regulate these banks, and make sure they’re not betting on massive and disastrous margins? The Fed, that’s who. The people who’re given the job of protecting the economy, and making sure the banks are solvent and sound, were the very people pumping oceans of cheap credit into the caldron of greed.

    It was all so very rank and vile, that it’s like wading into a septic tank just writing about it all, and remembering how rotten and corrupt it all was, and is.

    Check out Hyman Minsky. Periods of stability in financial markets produce risk-taking. And it leads to “free market” friendly politicians and regulators. After all, conditions are good, so what could go wrong?

    And it wasn’t the FED but the SEC who decided to free bulge bracket investment banks from leverage rules.

    Mortgage underwriting and origination regulations for that matter have been considerably changed since the crisis. Variable-rate mortgages need to be banned as well, but fortunately they’re less common these days.

    But the lesson you highlighted earlier wasn’t learned. Banks are required to keep demographic information on people they DENY mortgages to. Why? The hunt for “racism”, even though anti-racism (combined with greed and FOMO) was to blame for the housing bubble.

    have you seen Main Street lately?

    compare it to Wall Street, where they don’t create or make anything. Where all their massive profits are all just theft and usury and graft. Like this bottomless pit of greed

    I live on Main Street, and yeah it’s not pretty.

    There are lots of useful financial products put out by Wall Street. Free interest bearing checking accounts, cash back & points credit cards, foreign currency futures (to hedge exchange risk in international trade), low-cost index funds, business lines of credit, working capital loans, mortgages, auto loans, equipment financing, etc.

    Is there theft? Yes, as evidenced by Corzine.

    Usury? Of course. My cash-back credit cards are effectively paid for by morons who carry credit card balances and miss payment dates.

    Graft? Duh. Insider trading is rampant. And who can blame them? I’d love to have some insider information to trade on. :)

    the pyramid was the people who had gotten in at the beginning of the bubble, just like the dotcom bubble, and then rode it up until the never ending slew of sub-prime (turds with lipstick) liar loans mortgages imploded the system.

    How many of those people got out in time? And how many people got out too early? Something like three-quarters of market gains occur late in bull markets. Witness for instance the stunning rise in the stock market in 2017, when stocks were already expensive.

    The people who did well out of the subprime bubble would be those who got paid commissions for creating/selling financial products.

    it’s all a matter of the scam du jour. S&L, dotcom, housing, now it’s housing redux. This time it will be even bigger. Remember your pension?

    What’s the evidence for a national housing bubble in America at the moment? There’s an extremely obvious housing bubble in Australia at the moment however.

    I expect the next recession to be “normal” (i.e. not like the dotcom crash or the housing-banking collapse) and start in the next two years or so. Probably led by dubious California VC companies like Uber, WeWork, and maybe even Tesla being liquidated.

    And as previously noted…I don’t have a pension.

    The stock market has already entered a stealth bear market, and the multi-decade bull market in bonds has ended.

    we’re returning to feudalism, and it isn’t a natural progression of human societies, rather this is a top down orchestrated looting of the Middle Class by the 1%.

    Feudalism would be a great upgrade. It would be delightful if my employees were tenants without the right to change jobs. :)

    But inequality and feudalism aren’t quite the same. Feudalism is about manorialism, vassalage, and treating government & rights/entitlements as being property. Of course we’ve now given “vibrant” people some quasi-feudal privileges.

    A lot of these changes aren’t down to looting per se.

    “Free trade” was by far the #1 weapon of economic mass destruction imposed on Middle America. And this wasn’t just a class war, but a struggle within the oligarchy.

    Used to be for instance that the automakers were some of the most powerful corporations in America, and they were dangerous to cross. After a few decades of “free trade”, a much-diminished General Motors was very nearly allowed to die, whereas no one batted an eye about bailing out the banks without wiping out the stockholders or executive compensation.

    To this day I still hear boomercons grumbling about Obama bailing out General Motors. Like it would somehow be good for America to lose General Motors. What’s even crazier is I live in the Midwest, which owes quite a lot of General Motors, Ford, and Chrysler.

    not banks and money per se, but the Fed and their fiat money (weapon to enslave the planet).

    and you know, I’m not opposed to fiat money in every case. Sure, it tends to lead to Weimar/Zimbabwe type of crazy printing, but if it were being managed with the interests of the American people in mind, then that might be something.

    The Weimar Republic deliberately destroyed its currency as a weapon against Versailles. Mission accomplished, as the reparations program was then modified by the Dawes Plan. Even better for the government, the war debt of the German Empire was abolished at a stroke.

    Zimbabwe is, well, Zimbabwe.

    Since Britain exited the gold standard we’ve been conducting a successful experiment in fiat money. Maybe history’s first, at least on this scale.

    The reason it works whereas earlier fiat experiments did not is that the banks themselves create the money and want it repaid at a profit, whereas earlier fiat currencies were efforts by governments to avoid taxation.

    If I were designing a financial system from scratch I’d go with full-reserve banking, and money supply growth would be accomplished by spending new money into circulation on infrastructure projects using nominal GDP targeting.

    But the way it’s orchestrated now, with the Rothschild cabal loaning our money out in secret deals to their buddies in the ECB or Asia somewhere

    The Rothschilds are much less powerful than they were in the 19th century, and conveniently your statement is unfalsifiable.

    with the intention of destroying the American and European middle classes and using their children in endless wars for Israel, I don’t approve of it. Not hardly.

    And what has this got to do with the banks or the FED? Middle classes were destroyed through “free trade” and union busting.

    Endless wars for Israel through the sacralization of Jews, accomplished by Holocaustianity which in turn is sustained through control of the Cathedral. And Israel Firster Jews like Sheldon Dreidelson (wealth from casinos, not banks) and Haim Saban (wealth from media, not banks) are the most aggressive political donors.

    You may pretend that controlling the credit of a nation like the ZUSA doesn’t impart any special powers to the banksters who do so, but that would be laughed at by anyone who’s looked into this abyss of chicanery even in the slightest.

    It imparts the power to create credit. Powerful indeed, and I am a stockholder in JP Morgan Chase, Wells Fargo, and Bank of America. And obviously they are tied in with the Dweeb State which, after all, needs credit as well.

    By handing out trillions of dollars at zero interest to other banks, who turn around and loan that out with interest to the American public, they picking winners and losers, and Main Street America is not one of the winners.

    Main Street began deteriorating half a century ago. Earlier if you consider social deterioration as well.

    ZIRP is over in America, and even with ZIRP running a bank is not free hence the charging of interest. Lending is after all a competitive industry–just try shopping for mortgage for instance.

    Banks aren’t government planners at MITI. They lend, where permitted by regulators, to borrowers they believe have an ability to repay loans. I’ve had no problems borrowing money on margin, getting credit cards approved, getting a business line of credit, accessing working capital, or for that matter getting export insurance through the Export-Import Bank of the United States. And I’m very much on Main Street.

    Rather, they’re slated for replacement by Third World-ers who make better slaves.

    all of this is orchestrated by Zionist Jews, and that is why the ZUS and NATO are engaged in endless wars for Israel. Duh.

    Sure. Which has what to do with our banking system?

    In fact that last bit is so glaringly obvious to anyone with an IQ above room temperature, that your obtuse, disingenuous dissembling to the contrary, is more telling than not.

    I remind this started out with you making very dubious claims about inflation, which you have since abandoned. Now it seems we’re down to:

    1 – The banks are destroying Main Street (kind of, oversold)
    2 – The banks are a zionist conspiracy (?????????????)

    It’s okay dude. You can oppose idiotic colonial wars, Jewish power, and such without having loony tunes opinions cribbed from RON PAUL on banking…and RON PAUL got these ideas on money from the Jews–namely Murray Rothbard.

    Perhaps the real Jewish conspiracy was to spread irrational and wrong ideas about money to right-wing dissidents????????

    • Replies: @Rurik
  231. Sowhat says:
    @CalDre

    The Mitary Industrial Intelligence Complex is the biggest ripoff SECOND BEHIND THE IRS. Unconstitutional, Illegal, war-mongering, Zionist-backing, bloated, money-sucking posses. If you think that I may despise ALL of them and what they blindly follow, you are correct. There is no fixing this sacrilege; it MUST BE OVERTHROWN! ANYONE, ANYONE who thinks differently is working for them, propagandizing for them, or is an idiot with no hair in his pubic areas. They could all burn and I would laugh…them and those who support them in any way. The system is NOT Constitutional. The idea of patriotism is highjacked by these “hero-warriors, and the Department of Homeland Security and the other twenty or more alphabets departments are all leading up to an ORWELLIAN AMERIKA. Pardon me for the truth. America has died in their lusts. Me? I’ll ride out my days in cynicism and disdain.

  232. Rurik says:
    @Thorfinnsson

    The persistent hatred of central banking, fiat money, banks, financial markets, etc. by a dedicated faction of the American population is one of the strangest things about this country.

    what’s strange is that they’re not hanging from lampposts

    here a nice tidbit that’s all over the news right now

    Almost Half Of US Families Can’t Afford Basics Like Rent And Food

    https://www.msn.com/en-us/news/local/almost-half-of-us-families-can-e2-80-99t-afford-basics-like-rent-and-food/ar-AAxqntR?OCID=ansmsnnews11

    All told, the 0.1 percent now owns about as much wealth as the bottom 90 percent of America combined. And that’s just the official numbers. Plenty of their wealth is parked overseas and in places where it’s hard to get an accurate count of what they’ve accumulated.

    https://www.salon.com/2016/04/14/the_1_percent_are_the_real_villains_what_americans_dont_understand_about_income_inequality_partner/

    As you move on up the 0.1 percent ladder, you get folks like Steve Cohen, the hedge fund billionaire who bought a 14-foot shark in formaldehyde for his office, as if to signal his shady business practices (his previous firm, SAC Capital, was shut down by the feds for insider trading). Cohen doesn’t have just one mansion, he has lots of them. His $23 million principal home is in Greenwich, Connecticut, featuring an indoor basketball court, a glass-enclosed pool, a 6,700-square-foot ice skating rink with a Zamboni machine that smoothes the ice, a golf course and a private art museum. He also has five other homes just in the New York area alone.

    People like Cohen are a big part of the undue concentration of wealth at the expense of workers and communities—they create little of value for society and siphon off funds for our schools and infrastructure with tax loopholes allowed by bought politicians, like the notorious “carried interest” loophole. You also get bankers CEOs like Jamie Dimon of JPMorgan Chase and corporate chieftains paid stratospheric salaries even while driving their companies into the ground, like erstwhile GOP presidential hopeful Carly Fiorina, formerly of Hewlett Packard.

    It used to be that these gazillionaires would make their donations and then simply pick up the phone and tell Congress what they wanted done—as Jamie Dimon did when he and other bankers wanted a key part of Dodd-Frank to be rolled back in 2014. They tend to get what they want (Dimon did), and above all, what they want is not to pay taxes or have their activities regulated.

    all we need to remember is that one man’s debt is another man’s asset’

    so it may seem like a zero sum game, where the .01% collude to buy Senators and presidents, who do their bidding in all things, like war and granting them subsidies.

    Hey, remember that company that essentially caused the whole recession a few years ago and then managed to get billions in bailout money from the federal government because the U.S. Treasury and Federal Reserve were both stacked with the company’s former CEOs and high-level employees? Well, just so you know, they also do pretty well in the subsidies department. Goldman Sachs has raked in over $660 million, mostly from their home state of New York, but with some help from New Jersey, Utah and Michigan as well. Hooray!

    https://mic.com/articles/85101/10-corporations-receiving-massive-public-subsidies-from-taxpayers#.yDp5Lb5iP

    but just because Main Street is starving is no reason to pooh-pooh subsidies to Goldman Sachs after all, one man’s debt is another man’s asset!

  233. @Thorfinnsson

    You guys both clearly know a lot less than I do on these matters. But you’re religious fanatics so it won’t sink in.

    Now, that’s one helluvan argument.

    You win. Now, go spend your winnings at McDonalds!

  234. anarchyst says:
    @Anon

    I agree with you that torturing animals to enhance “flavor” and other “practices” that extend the suffering of animals is just plain wrong. If one is intent on killing an animal for food, it should be done as swiftly and humanely as possible.
    However, the environmentalist movement was quite successful in infantilizing the general public by making outlandish claims, giving animals “rights”, among other things…
    I call it the “disneyfication” of animals, raising animals up to the status of humans, imbuing human qualities on them…Walt Disney and his animal cartoons, “Bambi” among others, is responsible for turning adult humans into animal-worshiping crazies…the roots of rabid environmentalism also has its start with disney cartoons…
    The “disneyfication” of animals has done more to damage the concept of man having dominion over other living things and has contributed greatly to our present crop of anti-hunters and pro-animal activists.
    If civilization collapses, you can bet that this “disneyfication” of animals along with “gun control” (actually people control) will go away… people will be too busy looking for their next meal.
    PETA=people eating tasty animals…

    • Replies: @Rurik
  235. @Rurik

    Rurik powerfully took note:
    “they packaged sub-prime, liar loan, bullshit and called them triple A rated investments, and sold them to people. How is that not an orgy of greed and theft?”

    Hi Rurik,

    Thorfinnsson does not yet appear clever enough to lick his choppers & “call it a day,” but I predict your truth (above) might prompt the Maven Shama to admit himself into an uptown delousing shower.

    Thank you!

    • Replies: @Sam Shama
  236. Sam Shama says:
    @Rurik

    Rurik I am truly curious. Let’s say cryogenics and stem-cell editing advance; to the point where you, Rurik, get resurrected a century hence.

    Do you demand the $2 bill you saved with you, (something like the mummies in their crypt), should be sufficient to buy you a gallon of milk in 2118?

    I await with bated breath.

    • Replies: @Rurik
  237. @Rurik

    wow

    did you get that? Debt is good!

    I’m quite happy with the debt I have with Interactive Brokers, which has considerably magnified my stock market returns.

    we know that because they tell us so. And they would never lie. They’re banskters after all would they lie?!

    But just to be sure, the Fed has never been audited and they won’t allow it. Not because there’s anything untoward going on there! But just because they are beyond reproach, and anyone who doubts that is an anti-Semite!

    This is what makes you blockheads (beyond your religious fanaticism) so frustrating.

    Any information which contradicts your beliefs are in fact lies.

    The FED’s balance sheet IS in fact audited by independent outside auditors, and the Treasury of course reports the payments it gets from the FED.

    The audit the FED movement would scrutinize the discount window, open market operations, and its agreements with foreign central banks.

    And there is obviously funny business going on, probably with respect to the Dweeb State and arrangements with foreign central banks. I also wouldn’t be surprised that a good amount of the “Caribbean” and “Belgian” activity in the Treasury market stems from the FED.

    where do they get that money? Where does it originate?

    From debt. In particular the interbank lending market, hence all the fuss about the LIBOR.

    like this guy?

    https://www.haaretz.com/.premium-stanley-fischer-superhero-of-israel-1.5227758

    https://www.haaretz.com/israel-news/business/stanley-fischer-carves-out-fed-role-1.5264524

    Big surprise, a zogged country appointed an Israeli to an important post.

    That doesn’t justify your ranting against debt.

    • Disagree: Rurik
  238. @Paul C.

    The Declaration of Independence is a crock of shit, and Enlightenment principles about government are a bunch of made up nonsense.

    You’re clearly an Israeli-Firster if you support the Fed and our government in its current form and since you hold “we the people” in contempt, I assume you’re a fascist.

    What exactly is the link between being an Israel Firster and supporting the FED? You know Iran has a central bank. Is Iran run by Israel Firsters?

    And I certainly do not support our government in its current form. How could I if I am a fascist as you say?

    I’m not a fascist, but the fascists were a lot closer to the truth than the Founding Fathers. I don’t know what I am anymore, but I’ve been studying feudalism lately. I definitely know that ordinary average nobodies shouldn’t be running the country however.

    • Replies: @jacques sheete
  239. @Thorfinnsson

    but we also have low inflation and low unemployment.

    You know, I was just going to ignore you, but when I noticed that, I had to respond.

    You reveal how much you know by making a statement like that and it’s a bonehead if not braindead one.

    Have you noticed the price of beefsteak lately? Some good examples of inflation there. how about housing prices?

    On the other hand, as you pointed out, electronics can be a bargain. Probably no inflation there for the most part.

    The point is, it is just plain meaningless to make such a blanket statement about inflation or about “unemployment” in the way you did. One reason is that the figure is highly manipulated and another is that it doesn’t seem to account for under employment, and I’m betting that that’s significant and important, but it’s obvious there’s no way to explain that concept so you’d understand.

    Are you sure you’re not really the Maven (“debt is good”) in disguise?

    • Replies: @Thorfinnsson
  240. Rurik says:
    @Sam Shama

    the Rothschild cabal loaning our money out in secret deals to their buddies in the ECB or Asia somewhere,

    Hahahahaha. Secret deals eh? Well if they were so secret, were you the fly on the wall watching the proceedings?

    I have time just for this

    https://www.bing.com/search?q=fed+loans+out+trillions+in+secret&FORM=HDRSC1

    enjoy

    • Replies: @Sam Shama
  241. @Thorfinnsson

    I’d say this has worked out well for the Jews in general. They’ve been around for thousands of years and have achieved high levels of success, wealth, and power.

    There you go, making wild generalizations again.

    If it’s true that “[they] have achieved high levels of success, wealth, and power,” then why are they always howling about being victims? You really need to bone up on the history of the poor suffering tribe and how bad they claim to have had it.

    I just finished “Challenging Years” by Stephen Wise, and it’s histrionic bipolarity is hilarious. One sentence he’s strutting around braying claims like the one above, and in the next he’s howling about posekyooshun and terrible difficulties the tribe was suffering.

    • Replies: @Thorfinnsson
  242. @Thorfinnsson

    The Declaration of Independence is a crock of shit, and Enlightenment principles about government are a bunch of made up nonsense.

    Well, yes.

    I’m not a fascist, but the fascists were a lot closer to the truth than the Founding Fathers. I don’t know what I am anymore, but I’ve been studying feudalism lately. I definitely know that ordinary average nobodies shouldn’t be running the country however.

    Hmmm… the founding wankers were actually closer to fascist than democratic in orientation as well, and why should anyone be running the country? It’s beyond preposterous that anyone is qualified for such a job. Besides, it’s my observation (not a difficult one, really), that anyone who wants the job is among the most unqualified to hold it.

    These are interesting topics, but beyond my capability or inclination to discuss in a forum like this. I love sparring with highly opinionated folks and I bet you’d be a hoot. It’s clear you’re a thinker.

    • Replies: @Thorfinnsson
    , @Rurik
  243. @Thorfinnsson

    But I won’t be shaken from my view that animals exist to serve us and that vegans and vegetarians are our enemies and must be destroyed.

    Ha! Whatcha gonna do, eat them?

    Too funny. Yer just hear to stir things up. I know this cuz I’ve been guilty of such myself at times. Heheheh!

    ROFL.

    Gawd, I love to hear your reasoning on why they’re our enemies they must be destroyed. Too funny.

    PS: Btw, I only agree that they must be destroyed only if they’re cat persons…

    • Replies: @Thorfinnsson
  244. @Thorfinnsson

    Main Street got a lot of houses that they didn’t pay for…

    No they didn’t. That’s not the way it works because if you don’t pay for them, the banks get ‘em. For pennies on the dollar.

    If you’d said that Main Street got a lot of houses that they couldn’t pay for, you’d be closer to the truth except that they didn’t get ‘em, the money boys did.

    • Replies: @Thorfinnsson
  245. @Thorfinnsson

    It’s endemic to capitalism and goes back to the 17th century Netherlands, if not earlier.

    I vote earlier.

    “The curse of usury, it must be owned, is inveterate in Rome, a constant source of sedition and discord; and attempts were accordingly made to repress it even in an older and less corrupt society…
    Financial ruin brought down in its train both rank and reputation, till the Caesar came to the rescue by distributing hundred million sesterces among various counting-houses…”
    TACITUS, ANNALS, Book VI (beginning)1

    http://penelope.uchicago.edu/Thayer/E/Roman/Texts/Tacitus/Annals/6A*.html

  246. @Thorfinnsson

    Bottom line is you have no idea what you’re talking about and are motivating by an irrational, passionate hatred of banks and money.

    Well, if you think the hatred is irrational, then you’re the one who doesn’t know what he’s talking about and you’re wrong to boot.

    And you’re angry that I’m not part of your cult.

    Now that’s irrational!

    Besides, you are part of the cult; the comedy section. Have you ever thought of auditioning for flatulist? You could be the new “Petomane.”

    • Replies: @Thorfinnsson
  247. @Thorfinnsson

    The(sic) had to be bailed out owing to their role in originating credit. Banks blow up from time to time.

    Your claims would make better sense if you transposed the two sentences, thus.:

    Banks blow up from time to time. The[y] had to be bailed out owing to their role in originating credit.

    But the resulting claim would still make no sense. Can you explain why the fact that they originate credit in any way exonerates them from paying for their mistakes?

    Irresponsible banks are less deserving of life than a bloated, ruinously expensive military and vegans and vegetarians too. I think they’re best left to kick the bucket. If you disagree, explain.

    • Replies: @Thorfinnsson
  248. @Thorfinnsson

    Why do you have such an irrational fear and hatred of debt?

    Dumb leading question.

    Anyway, I don’t fear it, I loathe it.

    If it weren’t for the wild creation of debt, we wouldn’t have a ruinously expensive military for one thing.

    Did you get the part, ruinously? What do you think that means in this context?

    Why do you and the Mavens of the world have such an irrational attraction to, and love of, debt?

    • Replies: @Thorfinnsson
  249. @Thorfinnsson

    And most debt held by the public is held by Americans, so in effect we owe this money to ourselves.

    Yup, it’s the Mave in disguise.

    That old canard is as hilarious as it is cringe-worthy, but hey, keep pumping ‘em out!

    ROFL.

    • Replies: @Sam Shama
  250. Hibernian says:
    @Thorfinnsson

    I think they created a new auto finance subsidiary when they spun off Ally.

    • Replies: @Thorfinnsson
  251. Sam Shama says:
    @ChuckOrloski

    “they packaged sub-prime, liar loan, bullshit and called them triple A rated investments, and sold them to people. How is that not an orgy of greed and theft?”

    As I wrote above, investors who bought these packaged CDOs made money for a good many years and then lost it during the bust. People who shorted these or bought credit default swaps on these made money in the bust.

    They were rated triple-A by the rating agencies’ faulty models since those models did not take into account that in a recession all the underlying loans would behave very similarly and any benefits of diversification would vanish. Lesson learned by the rating agencies.

    What’s your “powerfully” great point?

    • Replies: @jacques sheete
  252. Sam Shama says:
    @Rurik

    Yes if you remember in our past conversations I pointed out to you that there were a number of credit and liquidity lines extended by the Fed to the ECB and others. It is what you’d expect a well-coordinated global banking system to do in order to stabilise the global monetary system. Faith and credit available to the U.S. proved to be effective.

    That the separate kook fringes of Paul and Sanders brigades and their media enablers decided to make a circus out of what was already known by those paying attention real-time, does not constitute a conspiracy.

    • Replies: @Rurik
  253. @Sam Shama

    What’s your “powerfully” great point?

    Do you really have to ask?

    It’s crystal clear even to a dumb goy such as me own self! This stuff is sooo easy; maybe too easy. I’ve heard tell that complex minds can sometimes get baffled by very simple stuff. It must be a burden tough to bear, but I’ll never know.

    • Replies: @Thorfinnsson
  254. @Sam Shama

    Far-off the Giraldi article-topic, Maven Shama hits groove, tells Rurik, “You don’t know what you are talking about.”

    Love it, Maven! You hit articulate & deceptive mojo.

    Below, please consider looking at Representative Peter Welch (D./VT) directing questions to AIG fink Chairman / CEO, Hank Greenberg on 2008′s bipartisan (2008) “Too Big To Fail” edict.

    No doubt, unaccountable, Greenberg successfully came off as not (!) having to know what he’s talking about.

    F.y.i., in “Solving 9/11,” & in contrast to the Congressional hearing text, author Christopher Bollyn got straight “to the point” as to who really is Hank Greenberg.

    P.S. Where is iffen? I happen to like the lad’s foolish Christian-Zionist subservience.

    • Replies: @Rurik
  255. @ChuckOrloski

    Thanks, chuck.

    I would have missed this since I long ago gave up on SS (The Mave) as not being worth my time even though he does offer quite a bit of humor even if it’s mostly unintentional.

    Post-LioniZing Thorfinnsson, Sam Shama added:
    “P.S. Rurik, Sheete, I must congratulate the two of you though. There is a certain canine determination about your attitudes. Never let go of the useless

    That explains why he clings to Krugman, who’s both useless and worthless. Anyway, persistence can be a key to success, no matter how one measures that and even a dumb goy can figure that out.

    I wonder what Krugman sez about the ruinously expensive military or would that be too on-topic for the genius?

    • Replies: @Sam Shama
    , @Thorfinnsson
  256. Sam Shama says:
    @jacques sheete

    That old canard is as hilarious as it is cringe-worthy, but hey, keep pumping ‘em out!

    ROFL.

    This is truly intriguing, witnessing the depth of the pathology of your cult. I’d really like to know the full extent of your beliefs; for it is beliefs we are talking about, not objective facts.

    Here is the tic data for foreign holdings. Subtract the foreign totals each year from our total outstanding federal debt and the picture should slowly clear for you. What am I saying? Of course, it won’t.

    http://ticdata.treasury.gov/Publish/mfh.txt

    • Replies: @Thorfinnsson
  257. Hi Rurik & Jacques Sheete,

    Given more thought, all Mr. Big Jews can stumble & bumble while articulating their unchallengeable ZUS economic & foreign policy edicts. Hank Greenberg’s not alone!

    I have no clue where Maven Sam Shama stands in the Lowerarchy’s “Most-Favored-Hasbarist” ranking.

    Is Shama listed in the Misfortune 500? (Bah) A crime if he’s not!

    One thing for sure: Here at U.R., the Maven never stumbles & bumbles while defending the unconscionable Zionist planetary-economic scheme.

    Makes me wonder why he’s intelligently peddling Talmuds to potential Asian customers and P.M. Netanyahu stupidly peddles inarticulate Talmud-based lies about Iran’s bomb?

    Real life’s not fair for even high IQ Maven’s. (Zigh). And why do I have to watch washed-up Fox News & CNN Talking-Economic-Head blather and Sam is stuck here? W.T.F.? Not fair!

  258. Sam Shama says:
    @jacques sheete

    I wonder what Krugman sez about the ruinously expensive military or would that be too on-topic for the genius?

    Do you really want to know what he sez? He sez our military spending is wasteful and unconscionable, given the same outlays if spent on infrastructure would produce a far better return on investment. What else can I help you with?

    • Replies: @geokat62
  259. @jacques sheete

    Look dude, go back to my very first comment on this matter. You’ll note I focused on a SINGLE product–mid-size Ford Taurus sedans and calculated the rate of inflation for the past 33 years. It was 2.43%.

    I have indeed noticed that beef has gotten more expensive as I eat over ten pounds of ribeye every week.

    But other things have not necessarily gotten a lot more expensive. In the department of food you’ll note that I observed I can buy a dozen eggs for 99 cents.

    I think I should conduct my own inflation index for you guys. I can track Ford sedans, ribeye steak, eggs, Coleman coolers, big screen TVs, and maybe a private golf lesson. :)

    I have said many times before that inflation is a personal issue in many respects. It rather depends on what goods you consume and what is happening with your income. My income has “inflated” a lot and I consume no education or healthcare, so to me things are great. For many other Americans things are grim.

    Some good examples of inflation there. how about housing prices?

    America historically features modest inflation in housing prices. I don’t see the problem here as housing is the main asset for most Americans who aren’t disciplined enough to invest in securities (or become entrepreneurs). Buy a house in your 20s or 30s, sell it when you retire and enjoy your leveraged returns. The American dream.

    Take a country like Germany with zero housing price increases in the past forty years (nationally, I’m sure this isn’t true in Munich). The typical German has a low net worth because relatively few Germans own their own homes.

    Though it seems we now have a problem with housing affordability in a number of the coastal metro areas.

    The point is, it is just plain meaningless to make such a blanket statement about inflation or about “unemployment” in the way you did. One reason is that the figure is highly manipulated and another is that it doesn’t seem to account for under employment, and I’m betting that that’s significant and important, but it’s obvious there’s no way to explain that concept so you’d understand.

    Underemployment and discouraged workers are also counted by the BLS. Both are dropping.

    Show evidence of manipulation, please. Paul Craig Roberts refers to the birth/loss model, but we also have had data from payroll reports and ADP’s reporting.

    Are we in halcyon days? No, I never claimed that. The ordinary American got royally screwed over the last half century or so. And speaking as an extraordinary American, I’d be doing even better if our feckless leaders hadn’t sacrificed half our manufacturing sector for no good reason. I’m just pushing back against libertarian-inspired hard money crankery.

    • Replies: @Truth
  260. @jacques sheete

    then why are they always howling about being victims

    1 – they’re assholes

    2 – victimhood brings prestige these days

    I am not a fan of the Jews or anything and openly identify as a moderate antisemite, just calling a spade a spade.

  261. @jacques sheete

    Besides, it’s my observation (not a difficult one, really), that anyone who wants the job is among the most unqualified to hold it.

    I am not sure this is actually true. There is nothing wrong with ambition.

    The real trouble is the skills required to take and keep power are not necessarily aligned with the skills necessary to govern well.

  262. @Thorfinnsson

    The precedent has been set for bail- ins in the future, as well as a cashless society so the herd can be more effectively fleeced via negative interest rates.
    This is the credo you defend and advocate, because your conscience has been seared and God has given you over to a reprobate mind.

    So you can make another buck.

    At the expense of the working class, while you Wall ST yehudis “socialize” losses from YOUR idiot tranches of fraudulent mortagages.

    • Replies: @Thorfinnsson
  263. @jacques sheete

    They are our enemies for many reasons.

    The first reason, which is fundamental, is that they are objectively wrong in so many of their claims. Our movement is based on the radical recognition of reality as it is, not as we wish it to be. Of course we get it wrong on occasion like anyone else, but we always try to be right.

    The second reason is that their views are simply an outgrowth of “liberalism”, which it is our task to destroy forever. In the future anyone making arguments on behalf of “equality” or something like that should be sent to a concentration camp along with his family.

    The third reason is more mundane, which is that optimal human health requires animal flesh. We want our people healthy and strong.

  264. @jacques sheete

    Not all deadbeats default because they can’t pay their debts. I refuse to pay medical bills on principle for instance, and I’m rich. I’ll grant that obviously most of the buyers couldn’t pay the rates once they reset, and never understood what they signed.

    And the banks getting the houses is the last thing they want in most cases. Think about it.

    • Replies: @jacques sheete
  265. @jacques sheete

    Hatred is rational but often leads to irrational views of the object of hate owing to the intensity of feeling.

    But hating central banking, fiat money, “the banks”, whatever is irrational.

  266. @jacques sheete

    I don’t think the way the TARP bailout was conducted was appropriate.

    My position is that bank bailouts should be modeled on what Sweden did during its banking crisis in the early 90s.

    The banks were bailed out all right…in exchange for the stockholders being wiped out.

    I am a big proponent of skin in the game.

    The only points I’ve made on our bailouts are:

    1 – The Treasury made a profit on it, so the taxpayers were not actually harmed

    2 – A bailout was needed, but as noted above the bailout should’ve been conducted in a way which did not reward the stockholders (or executives)

    I would prefer to have full reserve banking to eliminate the problem of banks blowing themselves up, but that would be a radical change.

  267. @jacques sheete

    The military costs 4% of GDP. 5% if you include the Dept. of VA and the nuclear weapons program of the DoE. Not ruinous.

    Most debt, by far, is created by the private sector as well.

    I do not have an irrational attraction and love of debt. I use debt to benefit myself, hence why I’m a very satisfied customer of Interactive Brokers who offers margin debt at just 2.25%. But I am prudent about it and always keep a lot of dry powder. I always pay the statement balance on my credit card, and I save (really invest) about 90% of my after tax income. But debt offers me some benefits so I use it.

    The problem with debt as we all know is people who take on debts they can’t afford. Tough, that’s life.

    I can’t speak for Maven, whom you brought up before. This thread is my first encounter with him. I normally comment on Anatoly Karlin’s Russian Reaction blog on this website.

  268. @Hibernian

    GM Finance, which however is strictly a captive finance arm. GMAC on the other hand was a lot like GE Capital in terms of how many things it got into. And Detroit has finally learned its lesson on incentives, which are now only used to clear excess inventory.

  269. @jacques sheete

    You’d stand on better ground if you pointed out the obvious conflict of interest in the ratings agencies: they get paid by the debt issuers.

    Of course only losers ever trusted these agencies to begin with. But big surprise, bond buyers are losers. :)

    • Replies: @jacques sheete
  270. @jacques sheete

    Krugman isn’t actually that bad as an economist when he stays in his lane. His work on trade is good.

    But his work as a pundit is absolutely awful.

    Before he got unhinged and hired by the Jew York Crimes he wrote decent essays on subjects not in his lane even. See this for example from 1994: http://www.pkarchive.org/trade/myth.html

    • Replies: @jacques sheete
  271. @Sam Shama

    I am a former gold standard libertarian and can break it down.

    -The business cycle is caused by central banking
    -Fiat money is going to zero (Real Soon Now)
    -Only gold (and maybe silver) are actual money
    -All government intervention and taxation are bad for the economy (and immoral)
    -Fractional reserve banking is fraud and contributes to the business cycle
    -Weird, obsessive hatred of even modest inflation as if it’s a big fucking deal

    These guys are adding stuff about the Jews (even though the Jews helped develop this cult) since many if not most of us former libertarians are now alt right. And I notice some left critiques as well based on attacks on the repeal of Glass-Steagall (which David Stockman, generally a libertarian, likes to do) and favorable citations of Matt Taibbi.

    And actually I still like David Stockman’s writings quite a bit. He actually made a great short call on IBM back in 2014 or so.

  272. SanityClaus says: • Website
    @Thomm

    The traitors and murderers calling themselves the Pentagon and National Guard are pledged permanently to serve the BritishEMpire/N.A.T.O. HEROIN MAFIA.
    They wipe their ass with our Declaration of Independence.
    The taxes we pay do not pay for the pentagon. The pentagon can print all the fake money it wants.
    The congress of the U.S. does not appropriate fund for the military.
    The U.S. is ruled by the British Empire through the U.S. military. ONLY the military is recognized as having a right to vote in U.S. elections. Civilians must register to vote. Traitors don’t have to register to vote. Permanent war in the service of the BritishEmpire is for stinking rats.

  273. @Stonehands

    I am in the manufacturing sector, not Wall Street. I am a satisfied customer of Wall Street and have a hobby interest in finance. Not that I recommend ALL of their products–far from it.

    Agreed that some dangerous precedents have been set.

    In fact there has been some chatter about taxing 401(k) plans, which amounts to a bail in.

    • Replies: @Stonehands
  274. KA says:
    @CalDre

    1 trillion ? I want to believe you. But isn’t it about 700 billions?

    • Replies: @CalDre
  275. geokat62 says:
    @Sam Shama

    Do you really want to know what [Krugman] sez?

    Excerpt from The Krugman Scam, by Guillaume Durocher:

    “[The craziness of American politics] is not a permanent condition. The craziness really comes more from cultural-ethnic issues than anything else. A lot of the real craziness comes from rural White Americans who feel that they are losing their country, they are losing ownership of the country. They’re right. We are becoming more diverse, more multicultural, and they are, in the end, not in the future. The power they still have will go away but it’s a very difficult time until then. The future is Mayor De Blasio of New York, but Ted Cruz of Texas is still out there with the ability to do a lot of damage.” Paul Krugman

    The two concluding paragraphs:

    This is the plan Krugman has for the world: A borderless ethnic chaos with shocking inequality and social-ethnic fragmentation, made up of rootless individuals and mutually-hostile tribes dependent on the state for sustenance, and run by people like Hillary Clinton and institutions like the Federal Reserve, who just happen to be in the pocket of Krugman’s co-ethnics. Very convenient. This world would be one of lies and hypocrisy, everyone having nothing but “anti-racism” and “equality” in their mouths, as they govern on behalf of a non-White majority. Meanwhile real power would be held by whoever can form the most powerful ethnic networks (e.g. Patrick Drahi).

    Paul Krugman embodies the hypocrisy and selectiveness of the establishment Left. The Left likes to talk about the pervasiveness of White racism and of the so-called “corporate capture” of the American political process. But what about Jewish racism and what about ethnic capture of the intellectual, financial, and political high ground in the United States? There will be no real justice in the world and no future for Europeans worldwide unless these problems are frankly discussed and dealt with.

    https://www.theoccidentalobserver.net/2016/02/18/the-krugman-scam/

  276. @Thorfinnsson

    Thanks for the clarification.

    Consider for one moment that we are assailed by timeless, undivided, dark spiritual forces. We are born into “this”- the snares of carnal being- desire- and infernal, time- consuming monetary calculations.

    The gods of hedonism: the Belly and Mammon.

    PC, Moral relativity- even Pilate said
    “Ah, what is truth?”

    Mankind finds himself in a spiritual quandary, not economic.

    We have tried EVERY form of self government….

    The words of William Penn are prescient:

    “He who won’t be governed by God, will be ruled by tyrants.”

    American men have thrown away their patrimony and we are reaping the whirlwind.

    But, History is a redemption song. Each man has to pay the Piper if he wants to dance; and choose to seek God and adhere to His instructions if he wants to begin the healing process…

  277. Momus says:
    @CalDre

    Your 1 month of stolen labor is repaid you in the form of the social wage.

    Paved roads, free recreational facilities, clean air, relative social order and a myriad of other benefits.

  278. @Thorfinnsson

    You’d stand on better ground if you pointed out the obvious conflict of interest in the ratings agencies: they get paid by the debt issuers.

    ???? Why are you directing that at me?

    Of course only losers ever trusted these agencies to begin with. But big surprise, bond buyers are losers. :)

    Aren’t bond “buyers” really lenders? And I thought debt was good. Anyway, I never bought a bond in my life and never intend to.

    Userers are losers too. They sell their souls for money.

  279. @Thorfinnsson

    Krugman isn’t actually that bad as an economist when he stays in his lane.

    Bullshit. All one has to do is look what employs him. He’s a mouthpiece who attempts the theft of his bosses for money; a meretrix and nothing more.

    I quit reading his crap decades ago.

    I hope The Mave reads this…tee hee hee hee…

    But his work as a pundit is absolutely awful.

    Before he got unhinged and hired by the Jew York Crime…

    I hate it when I agree with some people, but it’s worth it to know that The Mave ain’t gonna be happy. He should pop up soon spouting invectives with snark.

    • Replies: @jacques sheete
    , @Sam Shama
  280. @Thorfinnsson

    Hint to Pollyanna…quoting WIkipedia on topics like this will tells us all we need to know about your credibility, knowledge and intelligence.

    It’s on the same level as promoting Krugman or any other paid mouthpiece as an authority on anything.

  281. @Momus

    Your 1 month of stolen labor is repaid you in the form of the social wage.

    Paved roads, free recreational facilities, clean air, relative social order and a myriad of other benefits.

    And a “ruinously expensive american [plutarch's] military.”

    As for “free” rec facilities please explain how something that’s already paid for (via stolen money), is Free

    Arrrggggh…

  282. CalDre says:
    @KA

    No, $700 billion is the War Department budget alone. There are many components of the military budget in other agencies, such as:

    * Department of Veterans Affairs ($177 billion for healthcare for military personnel)
    * Department of Energy ($23 billion for financing nuclear submarines, aircraft carriers, nuclear weapons, non-proliferation compliance, etc.)
    * Department of State ($9 billion for foreign military aid, sales and grants)
    * National Aeronautics and Space Administration ($6 billion for military-related space development and spy satellites)
    * intelligence agencies (estimated at $30-$50 billion hidden within various agency budgets, e.g., CIA “black ops”)
    * Department of Homeland Security ($7 billion for Coast Guard and military-related activities)
    * Drug Enforcement Agency ($1 billion for military-related drug interdiction)
    * Other Defense Civil Programs ($90 billion for retirement and Medicare of soldiers)

    • Replies: @jacques sheete
    , @anon
  283. @Momus

    Your 1 month of stolen labor is repaid you in the form of the social wage.

    Oh, you think so do you? And why wouldn’t it be preferable for a person to decide for himself whether he wants something at the price offered?

    What yer promoting here is that we be forced to buy something whether we want it at that price or not.

    You’re probably another Krugmanite as well. Ever hear of corvee? What’s so great about it?

  284. @geokat62

    Here you go…Bingo!

    ….who just happen to be in the pocket of Krugman’s co-ethnics. Very convenient. This world would be one of lies and hypocrisy, everyone having nothing but “anti-racism” and “equality” in their mouths, as they govern on behalf of a non-White majority. Meanwhile real power would be held by whoever can form the most powerful ethnic networks (e.g. Patrick Drahi).

    The type mouths endless platitudes of “anti-racism” and “equality” while plotting and implementing our demise, they’ve been at it for over a century, and they’re succeeding.

    They’ve destroyed what was left of American freedom as effectively as they had our ruinously expensive military destroy the rising competition, Germany and Japan, and anyone else who challenged their economic, political and military hegemony.

    • Replies: @ChuckOrloski
  285. @jacques sheete

    Correction…

    Should read, [Krugman's] a mouthpiece who attempts to rationalize the theft of his bosses for money.

  286. @Thorfinnsson

    And the banks getting the houses is the last thing they want in most cases. Think about it.

    You would be correct, of course if you said that getting and keeping the houses is the last thing they want.

    Any knucklehead knows that they do not want to possess them but that they want to grab ‘em and flip ‘em, and the more often the better.

    Who knew there were such “subtleties” associated with the word, “want?””

    Think about it. (Where have we read that before???)

  287. @CalDre

    Please try not to confuse folks with facts and insight!

    It disturbs their smug fantasies too, you meany!

  288. CalDre says:
    @Momus

    It seems you are a bit hard of understanding, so let me repeat myself.

    The one month of stolen labor is EXCLUSIVELY (that means, ONLY) for war spending (i.e., for NO OTHER USE), to reward the corrupt generals, to enrich the lazy/evil military contractors, to murder and maim people throughout the world, to destroy property, all illegally of course.

    I am being held at gunpoint to steal my money so the armed robber – the US government – can use it to commit crimes against humanity, and to enrich its friends. It’s organized crime, RICO, a racket.

    Now, I have several ADDITIONAL months of labor stolen from me for other things. Maybe a few days to pay for the roads – most of the other theft is to pay lazy bums who want to live off welfare and vote for the organized mob to steal more money from me so they can have more while they don’t work.

    Most of highways are paid for by the fuel tax.

    The federal government provides me with NOTHING for my 3 months of labor they steal from me at gunpoint every year. You get that? NOTHING! Just death, destruction, maiming, and other crimes. Anything I do use that the federal government pays for comes from other taxes, like gasoline taxes, which at least are voluntary and reasonably related to what you pay it on.

    • Agree: Stonehands
    • Replies: @jacques sheete
    , @Momus
  289. Sam Shama says:
    @jacques sheete

    I hate it when I agree with some people, but it’s worth it to know that The Mave ain’t gonna be happy. He should pop up soon spouting invectives with snark.

    Hahahahaa. I spout invectives eh? No; I try to write with as objective a pen as I can muster. Your problem reduces to an irrational and total rejection of a person [Krugman, e.g] or a model, simply because he or the model does not agree with the entire corpus of your faith. I think that is the perfect way to render yourself irrelevant since you will never agree a hundred percent with anyone.

    On Krugman; I consider him a very talented economist, particularly on international trade and geography. But I’ve also written, that like most journalists he operates in his own liberal echo chamber. You wouldn’t be familiar with echo chambers, would you?

    http://www.unz.com/pgiraldi/how-i-got-fired/#comment-2040977

  290. While I maintain Krugman did a lot of good work as an academic economist, as a pundit he reached his all-time low in this piece: https://www.nytimes.com/interactive/projects/cp/opinion/election-night-2016/paul-krugman-the-economic-fallout

    Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.

    :)

    • Replies: @Sam Shama
  291. @jacques sheete

    Jacques Sheete insightfully wrote on the Zio (incremental-phased) engineered destruction of the remnants of “Philadelphia freedom” effectively as:
    “… they had our ruinously expensive military destroy the rising competition, Germany…”

    Hi Jacques,

    As Maven Shama is a dyed-in-the-wool practicing Jewhadi, & for both your sake & his, below I post Brother Nathanael Kapner’s lucid presentation which begins with letting awestruck citizens know about ZUS’s ruinous operation of twenty one (21) expensive military bases in Germany.

    A question.

    Can a responsible Maven who proclaims to “write with as objective a pen as (he) can muster” leap in here to tell dumb goyim how to think about Brother Nathanael’s consistent Warnings to the West?

    Refer to video below, Brother Jacques!

    http://www.realjewnews.com/?p=1292

    • Replies: @jacques sheete
  292. @CalDre

    – most of the other theft is to pay lazy bums who want to live off welfare and vote for the organized mob to steal more money from me so they can have more while they don’t work.

    And I think you’d agree that corporate welfare in the form of special subsidies, tax treatment, favorable laws, bailouts, etc., etc., ad infinitum is included in the theft and the costs to us both direct and indirect is yoooge.

  293. @Sam Shama

    Hahahahaa. I spout invectives eh?

    Your problem reduces to an irrational ….

    Res ipsa loquitur. Gratias tibi.

    You should have stopped at invectives; you also spout straw man accusations.:

    …simply because he or the model does not agree with the entire corpus of your faith.

    • Replies: @Sam Shama
  294. @Sam Shama

    And it’s nice to see you remembered the snark as well.

    Love it.

  295. Sam Shama says:
    @geokat62

    Speaking of rural America, have you done any farming? I have; for many years, and it will continue to be a major occupation for me even though I do not need a cent of the considerable income it generates. I do it because I love it. Wouldn’t live any other way. Investments, if one understands them, require no more than an hour or two each day to monitor and plan.

    Modern technology makes everything easier. Farming and investing. I do not have any money engaged in usury or rent, though both are fine and needed. Rural Americans need help. But, if they mortgaged their farm, never kept up with technological advances, depended on government subsidy, they were destined to vanish like buggy whips and stagecoaches. Doesn’t matter whether they were white, beige, brown, yellow or black.

    Establishment Left. Ok, so what does Paul Krugman’s macroeconomics have to do with it? Sure he shapes most of his NYT articles with a social-distributional angle – he is a Liberal – but the main thrust of the economics is couched in the concept of Efficiency.

    This is the plan Krugman has for the world: A borderless ethnic chaos with shocking inequality and social-ethnic fragmentation, made up of rootless individuals and mutually-hostile tribes dependent on the state for sustenance, and run by people like Hillary Clinton and institutions like the Federal Reserve, who just happen to be in the pocket of Krugman’s co-ethnics. Very convenient. This world would be one of lies and hypocrisy, everyone having nothing but “anti-racism” and “equality” in their mouths, as they govern on behalf of a non-White majority. Meanwhile real power would be held by whoever can form the most powerful ethnic networks (e.g. Patrick Drahi).

    Most of that is the opposite of the truth. Krugman’s views have to do with social fairness. One may not agree with the way he proposes to go about it, but I don’t see any problems with heavily taxing pure rental income from the Adelsons of the world and applying the revenues thus collected to infrastructure projects.

    Show me which proposal of his goes to promote a “borderless ethnic chaos with shocking inequality and social-ethnic fragmentation”.

    WTF does the FED have anything to do with this?

    I am very much against all the fake #’s movements. But I prefer to take each person, each idea, each social and economic arrangement, each opportunity, at their own respective merits and values. But you won’t find me sympathising with white nativists. My neighbours at the farm who join me in the farming enterprise – I offer it as an informal sharing club – are all whites and none of them, even remotely think along the lines that this Guillaume Durocher fellow does. They would laugh at his description of the world about to descend upon us!

    The Left likes to talk about the pervasiveness of White racism and of the so-called “corporate capture” of the American political process. But what about Jewish racism and what about ethnic capture of the intellectual, financial, and political high ground in the United States? There will be no real justice in the world and no future for Europeans worldwide unless these problems are frankly discussed and dealt with.

    I don’t care what the “Left” talks about. Try to think for yourself without labels. Of course there is corporate capture. Most of corporate economics is quite good, it has elevated most Americans to levels of living standard vastly higher than most of the world population. It provides Americans with instruments of entrepreneurship and such, greatly superior to those available anywhere else in the world. Yet this corporate capture also leads to lopsided power in the hands of an elite class in which Jews are prominently represented.

    What are we to do about it? I can think of many policies we can put into place, but that requires the polity in a majoritarian system to first understand it, care enough about it, and then, act accordingly at the voting booth.

    I think we need a resurrection, to some extent, of an economy that serves to promote greater industry, but it’s not that simple for Americans to suddenly produce what China/Japan/Germany produce for us at vastly superior economics.

    What about Jewish racism? I’m sure it is there. Not so much in the U.S. but more of it in Israel. Yet any society must be ruled by laws that do not cast a kindly eye at racism. I know you would look at Israel and start the usual lamentations, but I am not interested to get into that rabbit hole here, save to note that Israel has a 20%+ minority Arab Muslim population.

    “But what about Jewish racism and what about ethnic capture of the intellectual, financial, and political high ground in the United States?” Hahahaha…the intellectual capture part is particularly funny. Well, if you believe it to be true, and find it objectionable, capture it back!

    “There will be no real justice in the world and no future for Europeans worldwide unless these problems are frankly discussed and dealt with.”

    Buch of nonsense. Europeans are going to be fine. Discuss to your hearts content.

    • Replies: @geokat62
  296. Truth says:
    @Thorfinnsson

    I have indeed noticed that beef has gotten more expensive as I eat over ten pounds of ribeye every week.

    Now you see, Nilsson, I was looking for good news in any one of your ubiquitous posts, and finally I found it: You won’t be around long enough that I have to spend many more years reading them…

    • Replies: @Thorfinnsson
  297. @ChuckOrloski

    Thanks, Chuck.

    I saw that excellent vid yesterday. Bro “Nate” gets it and I wish I knew 10% of what he does about his topics.

  298. Sam Shama says:
    @Thorfinnsson

    I agree. He knows very little about the stock market. Ditto the Fx and commodity markets. He sucks at those. The rates market he understands better.

  299. Rurik says:
    @Sam Shama

    not Main Street, but illegal aliens and ghetto denizens

    Prove it. Ludicrous statement.

    https://www.city-journal.org/html/trillion-dollar-bank-shakedown-bodes-ill-cities-12096.html

    the whole idea was to force banks to loan to favored, first-class citizen (or non-citizen) Americans.

    (first class-citizens are those who’re federally protected from any form of discrimination, conspicuously unlike second-class citizens – poor, working class Whites – who businesses and universities are encouraged to discriminate against at every opportunity)

    So the scheme was to demand that the banks loan to Jose and Jamal, knowing they’d often default, but then have Freddie and Fannie waiting there to put the burden on those second class citizen tax slaves. You know the one, ‘we must make sure no stimulus money goes to white construction workers’. Those people.

    I know a banker guy, and he sounds a bit like Thorfinsin here. Glib and perfectly willing to be on the winning side of the ‘one mans loss, is another man’s gain’ equation.

    And his attempted ‘defense’ of the banks, is that they were only doing what the government mandated that they do. Loan out sub-prime mortgages to people who didn’t even have jobs.

    No problem, the tax slave will pick up the pieces when the scheme implodes.

    the important thing was to keep the (racist) regulators away from it all

    • Agree: jacques sheete
    • Replies: @Sam Shama
  300. Sam Shama says:
    @jacques sheete

    It is not an invective to call an irrational position, irrational. I did not call you ab surd, to return a bit of Latin; noting that a surd is an irrational number. :-)

    • Replies: @jacques sheete
    , @Wally
  301. @Truth

    Lol. A red meat and fat cuck in THE CURRENT YEAR. Yeah dude, keep listening to those AHA and USDA guidelines. They’ll work Real Soon Now.

    Beef is one of the very most nutritious things you can eat. Only eggs are in the same class. Offal and fatty cold water seafood come close.

    How does it feel to be wrong?

  302. Sam Shama says:
    @Rurik

    So the scheme was to demand that the banks loan to Jose and Jamal, knowing they’d often default, but then have Freddie and Fannie waiting there to put the burden on those second class citizen tax slaves. You know the one, ‘we must make sure no stimulus money goes to white construction workers’. Those people.

    There was no planned conspiracy. Everyone, including a great many whites, mainly whites given the population, got into the great take-mortgage-flip-homes game.

    Let’s cut the BS. The Taxpayer DID NOT suffer. Fannie and Freddie went under conservatorship, where the US Treasury provided capital and liquidity to maintain an orderly mortgage market. The Treasury got senior preferred shares which were later endowed with a sweep-clause [in 2012 I believe] preventing a bunch of hedge funds from potentially making a ton of money. As the economy improved, revenues of the GSE’s sailed high and every penny was swept to the Treasury. The Taxpayer made out handsomely. The shareholders were wiped out.

  303. Rurik says:
    @Thorfinnsson

    Check out Hyman Minsky. Periods of stability in financial markets produce risk-taking. And it leads to “free market” friendly politicians and regulators. After all, conditions are good, so what could go wrong?

    the problem isn’t a free market

    that would be nice

    the problems is that the big banks are back stopped by the full faith and credit of the American tax slave.

    there should be zero ties between banks with government insured deposits, vs. the investment banks playing at the casino with MASSIVE margins. By getting rid of Glass, they blurred the lines between these banks, and then you had investment banks with ties to commercial banks that were intertwined, and that’s why they were called “too big to fail”

    how is it that a guy like you doesn’t know all of this?

    self-serving myopia perchance?

    this was a good movie about the orgy of fraud and greed

    (to a nice musical score. You’re welcome ; )

    And it wasn’t the FED but the SEC who decided to free bulge bracket investment banks from leverage rules.

    it’s the Fed’s job to make sure the banks (and the greater economy) are solvent. They did the opposite of their job. As usual. They created that crash with massive levels of cheap credit, exactly at the time when they should have been pulling in the reins. They pumped up the bubble, and then watched it pop. Knowing the tax slave was there waiting to be fleeced.

    Something like three-quarters of market gains occur late in bull markets. Witness for instance the stunning rise in the stock market in 2017, when stocks were already expensive.

    you are well-informed, so we may not agree on things, but people can learn by reading these exchanges.

    It’s called irrational exuberance, and we’re seeing today in spades. This will not end well.

    What’s the evidence for a national housing bubble in America at the moment?

    I’m seeing more and more stories like this

    https://www.zerohedge.com/news/2016-06-15/subprime-mortgage-back-its-2008-all-over-again

    whereas no one batted an eye about bailing out the banks without wiping out the stockholders or executive compensation.

    I batted an eye

    The reason it works whereas earlier fiat experiments did not is that the banks themselves create the money and want it repaid at a profit,

    there again, it “works” for the banksters, not for the American cannon fodder.

    If I were designing a financial system from scratch I’d go with full-reserve banking, and money supply growth would be accomplished by spending new money into circulation on infrastructure projects using nominal GDP targeting.

    agree

    Only I’d do it the way the Constitution demands, and tell the private, for profit banksters to pound sand. If the US needs to print more money, then they print it, sans interest (tribute) to Rothschild.

    The Rothschilds are much less powerful than they were in the 19th century,

    whoo boy

    General Wesly Clark:

    ‘I said, “Are we still going to war with Iraq?” And he said, “Oh, it’s worse than that.”

    “… we’re going to take out seven countries in five years, starting with Iraq, and then Syria, Lebanon, Libya, Somalia, Sudan and, finishing off, Iran.”

    nuff said

    And what has this got to do with the banks or the FED?

    … And Israel Firster Jews like Sheldon Dreidelson (wealth from casinos, not banks) and Haim Saban (wealth from media, not banks) are the most aggressive political donors.

    Wall Street is occupied territory. Ditto Hollywood, Vegas, DC, NYC and all the other black holes of greed and corruption. Billions upon billions of dollars flow from the Fed’s printing presses directly into Wall Street. The Fed buys up untold billions of Goldman Sachs toxic debts, and this is just the tip of the iceberg.

    I’m not a banker or a broker and I know very little about financial markets or any of the minutia vis-a-vis economics. But I can see what’s right in front of my eyes, if I just tug back on the curtain at the man there pulling all those levers and turning those dials.

    It’s obvious to me that our economy is structured in such a way as to crush the (White) middle class of this country and bolster the fortunes of the .01%. Duh.

    It’s a zero sum game, and the playing field is not level. This is orchestrated at the top – down, and at the top of the food chain is Rothschild. Who owns most central banks, including the ECB and others. So when the politicians of England and France tell their citizens that the best thing for them is to flood their nations with stone age third worlders from Africa, I know this isn’t being done for the benefit of France or England. Duh, There’s a hidden ((hand)) working there. One with a grudge against the West, and a psychotic imperative to see the West utterly destroyed.

    Main Street began deteriorating half a century ago.

    they’ve been at this for well over a century. Remember what I wrote about pres. Wilson and his ((advisors)), taking us to war with Germany, and funding the ((anti-White, genocidal Bolsheviks))?

    ZUS and NATO are engaged in endless wars for Israel. Duh.

    Sure. Which has what to do with our banking system?

    raw financial power

    do you know who the “Russian” oligarchs were working for when they looted Russia of her resources, and became some of the richest men in the world overnight?

    2 – The banks are a zionist conspiracy (?????????????)

    I already explained the issue of inflation vis-a-vis the Fed’s printing press.

    and it’s not the corner commercial bank that’s the problem. It’s the Fed, working with the ECB, to enslave the planet to debt.

    What’s going on in the world today isn’t happening by chance, duh. It’s being orchestrated.

    Europe didn’t decide to commit suicide on their own. No one in America was ever asked to vote on massive, transformational immigration.

    These things are imposed from above. By the ((people)) who hold the puppet strings on the leaders of the dying West.

    on whose behalf was Iraq destroyed, eh?

    you’re not stupid, so you have to know that all these wars on Israel’s rivals are being foisted by Zionists. Zionists who control our governments in absolute terms. And they didn’t get that kind of financial power by playing by the rules, in the West anymore than in Russia. Where a singular statesman has wrested his nation from their death grip, and this is why he’s reviled as the Hitler du jour from the length and breath of the zio-western media and governments.

    duh!

    loony tunes opinions cribbed from RON PAUL

    If I were designing a financial system from scratch I’d go with full-reserve banking, and money supply growth would be accomplished by spending new money into circulation on infrastructure projects using nominal GDP targeting.

    the above could have been written by Ron Paul himself.

  304. @Sam Shama

    It is not an invective to call an irrational position, irrational.

    Do I really have to point out to you that calling a rational position “irrational” is invective?

    Jeebers, Mave, maybe you better stick to pushing Krugmania. Good grief.

  305. @Rurik

    whereas no one batted an eye about bailing out the banks without wiping out the stockholders or executive compensation.

    I batted an eye

    I batted both eyes, and still am. I’d like to take a bat a few of their eyes, too, and no, I am not “jealous.”

    The same applies to our Ruinously Expensive Military and a few other things as well.

  306. We ‘Merkins pay for this (bleep ) too. Another ruinously expensive military.:

    http://www.unz.com/video/thejimmydoreshow_the-onion-not-fing-around-anymore-with-israel/

  307. MarkinLA says:
    @Anon

    the most important thing is not to be forced to use fiat money, created out of thin air, by scumbag bankers- who loot the value of your savings by inflating the money supply and driving down the value of your savings. But most of all, who use the power to create infinite supplies of money to corrupt our governments and institutions. Duh.

    Actually the average person isn’t “looted” by the inflation in the money supply but by the inflations and deflations in the various markets markets when he decides he wants to get in on the action and all of this occurred when we also had a gold standard. People speculating on rising process for stocks, commodities, and real estate, even when they know the game is likely rigged, have created far more damaging effects to the working classes than losses due to inflation. Those loses tend to occur because of our immigration mess keeping wages low for long period of time.

    • Replies: @jacques sheete
  308. MarkinLA says:
    @Thorfinnsson

    The compound annual growth rate of the S&P 500 going back to 1871 is 8.6%. Yeah it’s rigged all right…rigged in favor of buy-and-hold equity investors.

    The problem with these numbers is that the S&P 500 doesn’t give you an accurate value of what your return would really be. They just magically replace a losing stock with a winner on the way up and don’t account for your losses in the trade. Nor does it account for the taxes that would have to be paid by reducing your holdings. In addition, trading costs were exorbitant until about 1980 or so and would have eaten up a lot of money every time the S&P replaced a stock.

    Also when did mutual funds start, and when did they actually become cheap? In their early years, they were definitely not cheap to get into. Your either had a large entry load or the yearly take by the fund was significant even for index funds.

    I am not arguing with you just pointing out how misleading some of these claims by brokerages are.

    Wasn’t it Herbert Hoover, right before the crash, that said every man could be a millionaire just by investing in the stock market? Obviously, like in any market, everybody cannot be a winner.

    • Replies: @Thorfinnsson
  309. anon[228] • Disclaimer says:
    @CalDre

    Is it even 700 billions? or is it now 500 billions in our current budget?

  310. MD says:

    Sounds like the writer is a bit bitter that he got out of the military.

    • Replies: @jacques sheete
  311. Rurik says:
    @Sam Shama

    sufficient to buy you a gallon of milk in 2118?

    we’ve already been down this road

    the pathetic paper money the Fed pumps into every corner of the glob to advance their nefarious agenda, will eventually be worthless

    compared to gold and silver, which will buy about the same in 2118 as it does today. just as it did a hundred year prior.

    an ounce of silver was good enough to buy a nice lunch with a drink in 1918, just as it is today.

    Just as it will be in a hundred years from now, vs. a worthless Federal Reserve Note.

    My favorite illustration is the 25 cent gallon of gas. In 1964, a gallon of regular gas in the U.S. averaged 25 cents. Dimes, quarters, and halves were still made of 90% silver in 1964, the last year the U.S. minted 90% silver coinage for circulation. To buy one gallon of gas, you paid with a silver quarter. Fifty years ago, that silver quarter and that gallon of gas had equal market value.

    Today, the silver in that quarter is valued in paper dollars at about $3.75, which is also the price I’ve paid recently for gas. That $3.75 price tag is fifteen times the 1964 cost, meaning my paper dollar today is worth less than 7% of its former self 50 years ago.

    But the buying power locked in that silver quarter – its true value – is exactly the same as 50 years ago, and today it will still pay for a gallon of gas. The buying power of the silver did not change. It was the dollar that changed.

    https://www.moneymetals.com/news/2014/08/14/reprogram-your-mind-gold-and-silver-dont-change-paper-money-does-000588

    In a hundred years the silver coins in use will look much like this one.

    • Replies: @Sam Shama
    , @RadicalCenter
  312. @MarkinLA

    Sure. The point is that the stock market is a good investment, and pointing to the S&P 500 is a good way to illustrate that. It’s also quite helpful that one can explain that this represents the 500 largest public corporations in America, except one company (forgot which) that refuses to pay Moody’s their grifting fee.

    Today one actually can do that simply by purchasing an S&P 500 index fund and setting it to automatically reinvest dividends (now free with most brokerages), though there are still expenses (very low) and taxes (ETFs are much more tax efficient than mutual funds fortunately).

    Mutual funds first appeared in America in the 1890s, but obviously were not cheap.

    The first cheap option for retail investors was likely the Direct Stock Purchase Plan, which was introduced by the Reynolds Tobacco Company in the 1960s in a bid to reduce dependence on Wall Street.

    Cheap options started becoming common in the ’70s. The SEC deregulated the securities brokerage industry in 1975, and both Charles Schwab and Vanguard appeared in that decade. The first financial television shows appeared in this period, and by the 80s it was part of common cultural knowledge.

    Charles Schwab and Jack Bogle should be celebrated as American heroes. They, along with the American Telephone & Telegraph corporation and International Business Machines, did more than anyone else to make securities investing possible for ordinary Americans.

    Jack Bogle in fact willingly gave up great wealth at Vanguard. By organizing Vanguard as a mutual company, he is only worth around $80 million today (loser) instead of $10 billion. This talented man dedicated his life to increasing the net worth and retirement security of ordinary Americans. And he’s from Wall Street. :)

    • Replies: @jacques sheete
    , @anon
  313. Rurik says:
    @jacques sheete

    These are interesting topics, but beyond my capability or inclination to discuss in a forum like this.

    yea, there a lot of jargon and minutia tossed around

    and unless that’s your field of expertise, they can often befuddle the conversation.

    debt is good

    (yes of course it is, if you’re the guy collecting the interest)

    so at some level, depending on your perspective, such things are actually true in certain contexts. but if your talking macro-economics, and what’s beneficial to society at large, and they’re discussing what’s good for the 1%, then you’re just talking past each other.

    • Replies: @jacques sheete
  314. Rurik says:
    @Sam Shama

    Fed to the ECB and others. It is what you’d expect a well-coordinated global banking system to do in order to stabilise the global monetary system.

    “in order to stabilise the global monetary system” = loot the wealth of nations by plunging them into eternal debt to the ((central banks))

    fixed it for ya

    • Replies: @jacques sheete
  315. Sam Shama says:
    @Rurik

    (1) Do you have any money in the stock market? If so, why? If not why not?

    (2) Silver and Gold for some historical reasons command a sort of emotionally derived demand. Plus jewellery. Silver has industrial uses.

    (3) I own some of both Gold and Silver [about 5%-7% of my portfolio] so that I can profit from them when loonies push up their prices to insane levels. After that, I sell them at inflated prices whereupon I usually put the proceeds into really good stocks. Like Amazon, Apple, Microsoft and Google. Plus a whole range of smaller, excellent technology companies [some of them Israeli]

    (4) Most of my net worth is in stocks, productive land and direct businesses.

    (5) If I had followed the implications of your economic mindset, my net worth wouldn’t have been a tenth of what it is today.

    (6) I wish you the best of luck, waking up in 2118 with your gold and silver coins to purchase gasoline [if it is still in use], pastured eggs and milk.

    • Replies: @Rurik
    , @Thorfinnsson
  316. @MarkinLA

    Actually the average person isn’t “looted” by the inflation in the money supply…

    Depends.

    https://www.investopedia.com/ask/answers/042015/how-does-money-supply-affect-inflation.asp

    • Replies: @MarkinLA
  317. Rurik says:
    @Thorfinnsson

    somehow our financial system has something to do with Zionism. Ooooookay…

    • Agree: jacques sheete
  318. @MD

    Sounds like the writer is a bit bitter that he got out of the military.

    And how does that comment add to the discussion?

    Anyway, did General Butler sound bitter, too?

    “… I spent most of my [33 years in the Marine Corps] being a high class muscle- man for Big Business, for Wall Street and for the Bankers.

    In short, I was a racketeer, a gangster for [crony] capitalism.”

    Major General Butler USMC, War is a Racket, 1935

    http://www.ratical.org/ratville/CAH/warisaracket.html

  319. @Thorfinnsson

    The bottom line is that bankers, unsurprisingly, understand money.

    Well, I know more than a couple, and that ain’t always so. It’s probably true about the big boys but, as you say, unfortunately there are other factors…

    Anyway, of the bankers I know, even the ones interested in history, are clueless on that topic and that’s unfortunate as well. Nor do they understand politics; one, a usually great guy, refused to talk to me after the election because he thought I was a Trump voter and it took him a couple of days and my repeated assurances, before he could even face me.

    I love that guy to death, (brotherly style), but I still get a lot of chuckles whenever I think about it.

    Oh, most of them are armchair militarists, too. Go figure.

    • Replies: @Thorfinnsson
  320. @Thorfinnsson

    The point is that the stock market is a good investment, and pointing to the S&P 500 is a good way to illustrate that. It’s also quite helpful that one can explain that this represents the 500 largest public corporations in America…

    Modern business corporations…Privatizing profits while socializing costs with the help of government and the military, and squaking platitudes about free trade , while sucking the wealth out of the people of the world for over a century.

    Dat’s a helluvan “investment.”

    Mr Pollyanna must believe in the concept of free lunches…

    • Agree: L.K
    • Replies: @Thorfinnsson
  321. @Thorfinnsson

    This is just crazy. Moderate inflation is not a problem at all for just about anyone, unless your investing strategy is to stuff your mattress full of hundred Dollar bills.

    Ahhh, there may indeed be a G-d!

    I was about to introduce the topic about inflation and it’s effect on savers. So maybe you fiat money Pollyannas would care to elaborate?

    • Replies: @Thorfinnsson
  322. Rurik says:
    @geokat62

    great quotes Geo!

    • Agree: jacques sheete
  323. Rurik says:
    @Sam Shama

    On Krugman; I consider him…

    you know what’s funny?

    I made damn sure I wasn’t drinking any coffee before I read any further.

    (Inside joke btw)

  324. @Rurik

    I laughed at the mention of “stabilization” too. It was touted and tooted all over the media at the time and I was as appalled as I was disgusted that people were parroting that crap as if they were experts.

    We have to admit that they’re veritable euphemism machines and they’re experts putting perfume on pigs while convincing many that they’re bunnies.

  325. Rurik says:
    @ChuckOrloski

    great video Brother Chuck

    what a sleazeball that dude is

    arrogant fucking sleaze

  326. @Rurik

    …but if you’re talking macro-economics, and what’s beneficial to society at large, and they’re discussing what’s good for the 1%, then you’re just talking past each other.

    Yup, and you make multitudes of excellent points, but you’re tossing pearls to swine. Nevertheless it’s good to hear you state the truth so well.

    For what it’s worth, you have my appreciation.

    • Replies: @Rurik
  327. Wally says:
    @Sam Shama

    Yet it is you who irrationally believes in the impossible ’6M Jews & gas chambers’.

    But hey, the ‘holocau$t’ is a religion, so …

    http://www.codoh.comChemistry of Auschwitz / Birkenau

  328. Rurik says:
    @jacques sheete

    it’s worth a lot Sir, and I reciprocate the sentiment heartily !

  329. MarkinLA says:
    @jacques sheete

    There was nothing in there indicating people are being looted. The losses due to inflation are insignificant over the short term and usually only affect people without any assets. These are usually people working for wages in fields where they cannot command decent wage increases. However, even in those cases, I would not considerate that being looted. Most of them had nothing to begin with and continue to have nothing.

    The people who are looted are those enticed to enter the markets by the rising prices but end up holding the bag when those asset prices return to reality. They are usually middle class people where the brass ring is just out of their reach. We have had a long period where FED money pumping has reflated asset prices after every bust. Given we can’t go any lower than the 0% we recently had, that trick may have finally run out. It was a good run while it lasted and if you listened to Marty Zweig in the late 80′s when he said “Don’t fight the FED” instead of trying to assign rationality to the market, you would have done quite well.

    • Replies: @jacques sheete
  330. @jacques sheete

    There is indeed no free lunch. You said it yourself–taxpayers foot the bill. Problem solved. ;)

    • Replies: @jacques sheete
  331. @jacques sheete

    I’m a former gold standard austro-libertarian dweeb. Believe me, I learned all about this.

    Inflation a negative impact (as far as investing goes) on holders of cash. If you keep all your savings in cash you’re an idiot and deserve to be broke (and probably are).

    And other than the odd period from 2009-2016 or so, generally positive real rates of return were always available in savings accounts, CDs, short term bonds, and cash equivalents.

    The shift from the gold standard to fiat did end up hosing long-term bondholders, but like I said bonds are for losers anyway. The only reason to buy a bond with a duration longer than a decade is if you’re required to by law (this can be the case in insurance, banking, etc.).

    I’m not a proponent of inflation (other than in some special circumstances), rather I agree with German and Swiss thinking on central banking that the objective ought to be price stability. But moderate inflation clearly is NBD.

    I couldn’t tell you where inflation starts to be a problem, but obviously there were considerable problems in the ’70s.

  332. @jacques sheete

    At a lower level bankers just follow standardized processes and deal with 800 million items of bullshit regulatory compliance. Just middle class corporate drones really.

    It’s amazing interest rates are as low as they are with how massively overregulated the industry is.

    The higher level guys are interesting and colorful. Helps that finance is based in NYC.

    Nobody knows or remembers anything anymore it seems, hardly unique to bankers.

    That’s one thing that makes following Buffet and Munger quite interesting–they remember more or less all the major events in American business going back to the 1940s.

    I recall Munger casually discussing Harold Geneen while he was feuding with Bill Ackman for instance. Harold Geneen was a very big deal in the 60s and 70s. He transformed ITT from a mid-sized manufacturer into an insanely complicated conglomerate that was the eighth biggest company in the country. He also was involved in establishing military dictatorships in Brazil and Chile (which had threatened ITT investments) and attempted to control (without success) President Nixon.

    Today he’s completely forgotten. The only businessmen from that period people remember are Howard Hughes and David Rockefeller, and obviously for other reasons.

  333. @Sam Shama

    “Don’t tell me what you think. Show me your portfolio.” -Nassim Nicholas Taleb

    (3) I own some of both Gold and Silver [about 5%-7% of my portfolio] so that I can profit from them when loonies push up their prices to insane levels. After that, I sell them at inflated prices whereupon I usually put the proceeds into really good stocks. Like Amazon, Apple, Microsoft and Google.

    Gold isn’t bad at all provided you’re not in the doomsday bunker and allocating your whole portfolio to it. Gold has kept its purchasing power as far back as records have been kept. It has considerable volatility, so your strategy isn’t bad at all.

    No long-term risk in holding gold (other than opportunity cost).

    I’d consider it a buy at under $1,000. I was very lucky to get into RON PAUL and the MISES INSTITUTE in the early 2000s when gold was a steal.

    Silver functions more as a commodity than money. I’m not qualified to analyze commodities other than oil so I stay out. I have some left over silver from my libertarian doomerist days.

    Not a fan of Amazon as a stock as the business is valued based on some hockey stick fantasy, but should instead be valued like Costo. Obviously people with the hockey stick fantasy have done quite well so far. Apple and Microsoft ok (lack of topline growth a problem). Goolag is a great business as long as the adults in the room don’t let the SJWs run the ship into the ground.

    I’m a big fan of bank stocks which means I have skin in the game in discussing banks. And conflict of interest. I’m always irritated hearing about new actions against Wells Fargo by regulators, although objectively they deserve it.

    • Replies: @Sam Shama
  334. @Thorfinnsson

    There is indeed no free lunch. You said it yourself–taxpayers foot the bill. Problem solved.

    Wrong again.

    Problems just beginning.

  335. @MarkinLA

    There was nothing in there indicating people are being looted.

    I realize that.

    Like I said, it depends. On which theory one subscribes to. The article addressed the fact that there are different theories, that’s all.

    Anyway, the whole system is designed to milk people if not loot them outright.

    • Replies: @Sam Shama
  336. Our tax dollars at work, funding another Ruinously Expensive American [Funded] Military

    Canadian doctor: Israeli soldiers shot me in both legs as I was treating injured protesters in Gaza

    http://mondoweiss.net/2018/05/canadian-soldiers-protesters/

    • Replies: @Momus
  337. anon[228] • Disclaimer says:
    @Anonymous

    US has many advantages like half the world’s Ashkenazim who are very good at creating unbeatable new companies. Just look at how the half the 40 riches entrepreneurs under 40 in the US according to Forbes are Jewis

    Sure they serve the interest of the deep state and the State of Israel. Look at FACEBOOK and GOOGLE how they manipulate the information suppress information show Israel in good light and how the family of Singer Marcus Sheldon screw Argentina through FDD and Trump and send money to the settlers and carryout bombing operations against Syria and Iran through US.

    They steal the know how, they steal the information on medications Yes they do good research But when caught of providing secrets to Israel against US’s interests , even Stanford University could not talk about the espionage openly.

  338. Rurik says:
    @anarchyst

    damage the concept of man having dominion over other living things and has contributed greatly to our present crop of anti-hunters and pro-animal activists.

    while I agree with many of your sentiments, there are notions that tweak me a bit.

    Yes, man is at the top of the food chain, and has dominion over most other life forms, but I certainly don’t put that down to any divine plan for universal subjugation of all other life forms- as God’s will.

    As we’re on the verge of wiping out many magnificent wild species (like elephants for instance) in our lifetimes, I certainly don’t consider that God’s will.

    Nor do I consider it God’s will to practice vivisection on live animals. Perhaps if they must, they can use rats, but what they’re doing to our closest relatives in the animal kingdom is hardly what I would consider doing God’s work

    yes, the PETA people take it way too far, but then when I see how they treat dolphins, I wince,

    knowing as I do that these are sentient fellow creatures.

    or, another thing that gets to me, are those wealthy scum who want to feel all macho by shooting an exotic animal. Hopefully a ‘dangerous’ one, so they can nail the head to their den and brag to all their buddies how ‘macho’ they are, because they paid 30 or 60 thousand dollars to fly to Africa or Asia and have the locals bring the animal in view, perhaps tie it down, and then from a very safe distance, they shoot the hapless beast with a high-powered hunting rifle. No doubt with professional guides all armed and ready to shoot should the animal in any way pose a threat to the “brave hunter”. That shit makes me want to puke.

    But, other than that, if you hunt for your food, God bless you. Just use a powerful enough rifle to get the job done. Please don’t hunt with a bow, and take the risk that the poor beast is going to run off with your arrow stuck in it’s body in some non-lethal way, and then die slowly and horribly because someone wanted to act macho.

    Also, don’t buy food from commercial operations that treat the animals with cruelty. Something that’s starting to come out now. Hopefully you’ve all seen the horrific video’s of pig abuse, where they raise these animal in cages where they can’t even turn around, let alone put their snout into grass or dirt, which is what a pig is designed to do. If God created pigs, He did so for them to use their snouts.

    It isn’t God that us abusing animals out of greed and cruelty, it’s man”kind”.

    >>>warning<<<

    only if you must

  339. geokat62 says:
    @Sam Shama

    Speaking of rural America, have you done any farming?

    My parents were invited to come to Canada to work as farmers. Every time we would return to their ancestral village, we would accompany relatives working the land with very primitive implements. It was back breaking work, until the advent of the tractor, that is.

    But you won’t find me sympathising with white nativists.

    I know, I know. But for some reason you have no difficulty sympathizing with the colonialists.

    What are we to do about it? I can think of many policies we can put into place, but that requires the polity in a majoritarian system to first understand it, care enough about it, and then, act accordingly at the voting booth.

    We? You must be referring to your fellow American “citizens”? You know, the ones the only thing you have in common with is that they are economic agents. Tell me something, why is it you’re an advocate of “blood and land” for your pet Zionist project, but you oppose it for Westerners?

    Regarding majoritarian systems, is there such a creature any longer? Ever since Western nations adopted laws that protected minorities from the tyranny of the majority, the former have come to tyrannize the latter. What is the situation in your beloved ethnostate? Does it guarantee its minorities individual rights and freedoms?

    I think we need a resurrection, to some extent, of an economy that serves to promote greater industry,

    There you go again. An economic miracle is the panacea for overcoming all the world’s ills. We need a resurrection alright. But it is the resurrection of the Western spirit, one that will help westerners snap out of the spell that Cultural Marxism has cast upon them.

    Buch of nonsense. Europeans are going to be fine.

    Whew! I can sleep comfortably tonight having your assurances. I guess I can disregard the fact that Western countries are importing millions of peoples from all corners of the world, thanks to The Lobby in the US working overtime to get Hart-Cellar passed and Soros’ Open Society Foundation working overtime in the EU for open borders?

    If you are such a proponent of diversity, Sam, why don’t you support open borders for your beloved ethnostate?

  340. Sam Shama says:
    @Thorfinnsson

    Interesting that you were a Goldbug-Paulite in the past. Changing your mind, was it a gradual process?

    I am considering adding to my Silver holdings since I think it has a decent chance of moving explosively higher, later this year. I like the American Silver Eagles.

    Amazon is a unicorn. The market decided many years ago that Amazon ought not to be valued according to traditional metrics, and now that it is profitable, it is likely that we see some multiple compression, although not a great deal. Amazon Web Services is where the company has really differentiated itself from other consumer-commerce names. AWS is handily beating its competitors. There is a whole lifestyle eco-system it is pursuing, and I bet Bezos will deliver. Alphabet is very concerned about consumers going directly to Amazon for product searches rather than through Google. I think AMZN is a $2500 stock by mid-2019, i.e. after 4 more quarters, or so.

    Topline growth improvement is certainly not easy for aapl and msft at this stage, but they will deliver better than the spx and with a nice dividend to boot. Nadella is a very competent CEO and has a great vision for the company. Tim Cook, ditto.

    Goog, I am in mostly because I think they are in an unassailable position in click-revenue. Also, Waymo has a big lead over its rivals. Mid to late 2019 they are going to release the first fleet of level 5 autonomous ride-hailing cars, which, of course, has the potential to deliver some volatility to the stock.

    I love bank stocks as well. A 20% price drop in a quarter is out of the question for the SIFI banks, since that is implicit in the capital rules. So selling 20% out of the money puts is a very decent strategy to pocket expensively priced premium for Wells, JP, BoFA, Citi. I love buying bank stocks around recessions. The calculus is really quite simple; when the 2s10s curve flattens or even inverts, the obvious signal for a buy is emitted. In a normally functioning economy, the curve has an average slope of 90 bps, so for a 10x levered bank, you can expect a 9%+ return on equity. That is without including the volatility, both up and down, on account of their IBanking/trading revenues. But largely the 2′s10′s slope is the best way to think about long-term returns on bank stocks. I wouldn’t get too concerned with the regulatory slaps on the wrist. The SIFI banks cannot be allowed to fail.

    I am an avid tech stock investor. Big fan of the semis, particularly the semi equipment makers like Lam Research and chip manufacturers like Micron. These two are incredibly cheap now. The whole idea of a semi-cycle is basically dead. Chips are no longer mainly for desktops. They are ubiquitous. What used to be a minor component for a car’s value, has now become a major, and will continue to get more important as autonomous cars arrive.

    • Replies: @Thorfinnsson
  341. Sam Shama says:
    @jacques sheete

    Like I said, it depends. On which theory one subscribes to. The article addressed the fact that there are different theories, that’s all.

    Oh really? It depends, does it? Which one do you subscribe to? Using that theory can you please explain when very high inflation can arise?

    Thank You.

  342. @Rurik

    Well, Rurik, my Slavic brutha, I’d rather my great-grandkids pay with those than with yuan — but I doubt it.

  343. @Sam Shama

    Interesting that you were a Goldbug-Paulite in the past. Changing your mind, was it a gradual process?

    Yes, it was gradual.

    I don’t remember why I got into it honestly. Probably because I’m a smart white man with a natural inclination to dissidence and that’s what dissidence was back when I was a teenager. Now all the cool dissident kids in generation zyklon are alt right, ready to be mentored by me. :)

    Lew Rockwell’s site used to link to VDARE, from which I learned about the immigration disaster. Initially I thought this was down to “culture”, but then I found HBD through there.

    Around the same time I learned about the economic development of South Korea and Japan, and then I somehow discovered “The Other Canon”. This led to discovering trade heresy and other heterodox economic thinking.

    I never really put it together on money and banking however until I discovered Cullen Roche (who seems to be a liberal in fact) in maybe 2014.

    So you could say this gradual process stretched for almost a decade or so. I’ve been getting more small-l libertarian again lately on a number of economic issues, so I never forgot all about it.

    Amazon is a unicorn. The market decided many years ago that Amazon ought not to be valued according to traditional metrics, and now that it is profitable, it is likely that we see some multiple compression, although not a great deal. Amazon Web Services is where the company has really differentiated itself from other consumer-commerce names. AWS is handily beating its competitors. There is a whole lifestyle eco-system it is pursuing, and I bet Bezos will deliver. Alphabet is very concerned about consumers going directly to Amazon for product searches rather than through Google. I think AMZN is a $2500 stock by mid-2019, i.e. after 4 more quarters, or so.

    The market has decided this on valuation before, only to withdraw its judgment on many occasions.

    Don’t get me wrong, Amazon is a great company with a number of great moats. But the valuation is a joke and based on a fantasy. AWS for instance is good but operating in what is becoming a commodity business.

    I am not telling you to get out of course, as I have no idea how long the market will continue thinking this. Great old saying is the market can stay irrational longer than you can stay solvent.

    Realistically Amazon will mature by 2030 or so at around $500 billion of revenue with low profit margins and high operational excellence.

    The increasingly quality of online competition against Amazon is also interesting (happy Jet.com customer), but I think they’ll continue to be the best there for many years to come.

    Topline growth improvement is certainly not easy for aapl and msft at this stage, but they will deliver better than the spx and with a nice dividend to boot. Nadella is a very competent CEO and has a great vision for the company. Tim Cook, ditto.

    Nadella’s vision greatly angers me as a customer, though from an business perspective you’re correct.

    As for Tim Cook I don’t agree. A fag who got scammed by Doctor Dre. Reminds me of the Peter Principle. Fortunately the ecosystem creates a moat he (or his successor) is unlikely to fuck up, but there is some danger in that Apple is kind of like Sony in the 80s.

    I am looking forward to Berkshire Hathaway (long, and finally got my BRK-A status symbol :) ) surpassing these companies as I have a burning hatred of the large tech companies.

    Goog, I am in mostly because I think they are in an unassailable position in click-revenue. Also, Waymo has a big lead over its rivals. Mid to late 2019 they are going to release the first fleet of level 5 autonomous ride-hailing cars, which, of course, has the potential to deliver some volatility to the stock.

    Agreed on Goolag’s core business, though some storm clouds on the horizon with the growth of search through voice. I suspect this is a solvable problem however.

    Waymo’s lead has evaporated, though it hasn’t fallen behind. General Motors has pulled into the same position, and the German automakers are relentlessly approach as well (along with Robert Bosch of course). I am not sure how this will shake out, but there’s no business as brutal as the car business. Check out Sergio Marchionne’s slide deck “Confessions of a Capital Junkie” to see just how fucking awful the auto business is. I realize Goolag isn’t about to start building cars, but point being the car makers aren’t going to roll over to be enslaved by Goolag.

    I wouldn’t get too concerned with the regulatory slaps on the wrist.

    Actually this is an opportunity. Value investing often involves buying damaged merchandise. Hence why bank stocks have been such a great deal.

    I am an avid tech stock investor. Big fan of the semis, particularly the semi equipment makers like Lam Research and chip manufacturers like Micron.

    Come on. Micron might as well be a commodity these days. :)

    • Replies: @Sam Shama
  344. Momus says:
    @CalDre

    Yes, yes.

    What you are describing is the experience of living in a modern nation state.

    Welcome to civilisation sir.

    • Replies: @CalDre
  345. Momus says:
    @jacques sheete

    This bloke claims to have copped a rubber bullet? Terrible if it actually happened.

    A problem for the Gaza medicos is that Palestinian ambulances are sometimes used to transport fighters, clobber and urgers around, and are driven by Hamas operatives.

    Best way to solve these issues for medics is for everyone to stay away from conflict zones- ie the Gaza fence, when you have been warned many times about live fire.

  346. As routine, Momus talked-vertically (downward) to Jacques Sheete & wrote:
    “Best way to solve these issues for medics is for everyone to stay away from conflict zones- ie the Gaza fence, when you have been warned many times about live fire.”

    Hi Brother Jacques Sheete,

    My preference is to address you and not useless Momus.

    You remember how ex-Senator Al Franken wrote in his book, on how Chosen people got text message-warnings to avoid “conflict zones” on 9/11?

    Here’s something more that troubles me:

    The (intentionally?) U.R. banished-author Jonathan Revusky wrote a terrific article that provided evidence that Betty Ong is a phantom.

    If one reads Christopher Bollyn’s book “Solving 9/11″ & numerous articles, they will find a measure of evidence that supports Revusky on the phantom Betty Ong.

    Looking back upon Revusky’s amazing thought provoking article, at present I deeply regret not making comment-reference to evidence provided by Christopher Bollyn which DEMANDS an American citizen verdict.

    Like deceptive Momos emphasized in reverse, you “have been warned,” and I hope (at minimum) U.S. cops, fireman, & First Responders get a heads-up prior to the next False Flag-explosion of city buildings.

    Thanks!

  347. anon[266] • Disclaimer says:
    @Thorfinnsson

    Stock market is a ‘forced investment’ because the money has no where to go. Stock market with P/E ration above 30 makes no sense . Companies have not reinevsted their profits made after tax cuts or after reimportation of their own money from abroad . The companies have bought back their own shares illegal until recently.
    Banks were bailed out in 2008 That is not capitalism . That isn cronyism and nepotism . Wages have not gone up compared to 1996 for same jobs inflation adjusted .Government should have bailed out the homeowners not the banks.

    More whites than the blacks who were victims of the subprime mortgage .

    The data on unemployment is flawed when the data includes those who are employed at a subsistence level income . The data is intentionally distorted when the numbers of those no longer looking for job is included .

    Inflation is obvious – look at the rides on buses trains, or flight cost . Eggs ,milks,cereals , baby’s items ,medications, and compare cost you ore than they did 1 yr ago and what cost 1 yr ago was costlier than the prices 2 yrs ago one paid and so on. College tuition have gone up .

    • Replies: @Thorfinnsson
  348. CalDre says:
    @Momus

    Really? To you being robbed by armed thugs so they can use the loot to murder, maim, destroy and oppress is civilization?

    To me that is the Modern Mafia of the Evil Empire.

    It’s not civilization, it is the lack of it.

    You are either sadly hopeless, or profoundly evil, if you happily accept these ongoing barbaric crimes in the doublespeak name of “civilization”.

  349. @anon

    Stock market is a ‘forced investment’ because the money has no where to go.

    There are lots of other asset classes. Real estate, bonds, crypto, farmland, oil wells, you name it.

    Stocks are attractive owing to their liquidity and long-term tend to appreciate.

    Stock market with P/E ration above 30 makes no sense .

    Low interest rates increase the net present value of stocks, hence the current elevated valuations.

    Note also that high valuations imply mediocre future returns, which started this year. Valuations are in fact now falling as earnings keep climbing.

    Companies have not reinevsted their profits made after tax cuts or after reimportation of their own money from abroad

    https://www.bloomberg.com/news/articles/2018-04-26/trump-tax-windfall-going-to-capex-way-faster-than-stock-buybacks

    “Among the 130 companies in the S&P 500 that have reported results in this earnings season, capital spending increased by 39 percent, the fastest rate in seven years, data compiled by UBS AG show. Meanwhile, returns to shareholders are growing at a much slower pace, with net buybacks rising 16 percent. Dividends saw an 11 percent boost.”

    The companies have bought back their own shares illegal until recently.

    Share buybacks aren’t illegal. They’re also more tax efficient than dividends, which is why they’re popular.

    Banks were bailed out in 2008 That is not capitalism . That isn cronyism and nepotism . Wages have not gone up compared to 1996 for same jobs inflation adjusted .Government should have bailed out the homeowners not the banks.

    This doesn’t rebut my point that stocks are good investments. In fact the fact that the banks were bailed out was good for bank stockholders, who otherwise would’ve been wiped out.

    My position on banking crises:

    1 – The central bank should follow Bagehot’s dictum (lend freely at high interest rates against excellent capital)

    2 – Banks requiring an actual bailout should be taken under conservatorship (that is to say, nationalized)

    3 – Most bubbles involve fraud somewhere, and the last one definitely did, so put some executives in prison to encourage the others and calm the public

    How do you suggest the government should’ve bailed out homeowners?

    The wage situation is worse than you think. Real wages are actually about the same they were during the moon landing. But that’s also not an argument against stock ownership. It’s in fact an argument for stock ownership, as more of the national income goes to capital rather than labor now.

    The data on unemployment is flawed when the data includes those who are employed at a subsistence level income . The data is intentionally distorted when the numbers of those no longer looking for job is included .

    The BLS tracks these data and report them as well. There is for instance the U-6 report, which tracks “underemployed” workers. They also track “discouraged workers” and the workforce participation ratio. The latter is climbing again for the first time in a very long time.

    Inflation is obvious – look at the rides on buses trains, or flight cost . Eggs ,milks,cereals , baby’s items ,medications, and compare cost you ore than they did 1 yr ago and what cost 1 yr ago was costlier than the prices 2 yrs ago one paid and so on. College tuition have gone up .

    Everyone has his own personal rate of inflation based on his basket of consumption.

    For instance of all the items you listed, the only things I buy are flights and eggs. Electronics have kept getting cheaper. Manufactured goods in general appear to have little to no inflation. Cars increasing at around 2%, though they’re also getting better.

    I don’t dispute the existence of modest inflation. I dispute the following claims:

    1 – Inflation is much higher than reported
    2 – Inflation exceeds wage inflation
    3 – (Modest) Inflation is a problem for savers
    4 – Inflation is going to destroy our economy Real Soon Now

    • Replies: @anon
    , @anon
  350. @Rurik

    the problem isn’t a free market

    that would be nice

    the problems is that the big banks are back stopped by the full faith and credit of the American tax slave.

    there should be zero ties between banks with government insured deposits, vs. the investment banks playing at the casino with MASSIVE margins. By getting rid of Glass, they blurred the lines between these banks, and then you had investment banks with ties to commercial banks that were intertwined, and that’s why they were called “too big to fail”

    how is it that a guy like you doesn’t know all of this?

    self-serving myopia perchance?

    this was a good movie about the orgy of fraud and greed

    I am a former gold standard austro-libertarian, and I still had hard money ideas while the financial crisis was happening. Believe me, I know all this.

    No one is willing to address two points I made about the end of Glass-Steagall:

    1 – Glass-Steagall commercial banks also blew themselves up, somewhat spectacularly in 1982 and 1984
    2 – Most other countries never separated commercial and investment banking

    Canada for instance was widely praised for its financial regulation and lack of a financial crisis. But in Canada big banks are even more dominant than in America, and investment banking was never separated from deposit banking.

    In fact the very rationale for Glass-Steagall doesn’t make a whole lot of sense. There’s the idea that securities are riskier than commercial loans (hahahahaha), and that we don’t want depositors losing their deposits. But the deposits are insured…and thus can’t be lost. Seems to me that Carter Glass, Henry Steagall, and Franklin Delano Roosevelt just didn’t like Wall Street.

    Now what would be nice to see is a Constitutional amendment which would require banks–or any other corporation–to take a haircut proportionate to the bailout in question. A real haircut meaning actual equity, not just preferred stock. Up to and including completely wiping out the shareholders and nationalizing the bank being bailed out.

    I previously praised Sweden’s approach to its banking crisis in the early 90s for instance. It also recovered faster from the crisis.

    it’s the Fed’s job to make sure the banks (and the greater economy) are solvent. They did the opposite of their job. As usual. They created that crash with massive levels of cheap credit, exactly at the time when they should have been pulling in the reins. They pumped up the bubble, and then watched it pop. Knowing the tax slave was there waiting to be fleeced.

    Regulators fuck up, news at 11. Shit happens.

    Did they know the taxpayer would bail them out? Maybe.

    But I got the impression lots of them were clueless and scared. Remember Cramer’s meltdown? And Cramer selling out at the bottom?

    Don’t forget that Bear Stearns was allowed to suffer a market bankruptcy.

    And neither Bear Stearns nor Lehman Bros were deposit banks.

    It’s called irrational exuberance, and we’re seeing today in spades. This will not end well.

    I see irrational exuberance in VC. We had irrational exuberance in crypto recently. Don’t see it elsewhere in America, but there are foreign examples like Australian real estate.

    there again, it “works” for the banksters, not for the American cannon fodder.

    I’m a very satisfied customer of the banksters. Works just fine for me.

    agree

    Only I’d do it the way the Constitution demands, and tell the private, for profit banksters to pound sand. If the US needs to print more money, then they print it, sans interest (tribute) to Rothschild.

    Right, plus I suspect one could accelerate economic growth by directing interest-free new money into circulation into infrastructure, machinery, R&D, etc. The bedrock of economic progress.

    Right now new money enters circulation based on what creditworthy borrowers want to do with it. Some of these borrowers do indeed use loans to invest in growth, but lots of others purchase already existing assets or use it to finance consumption.

    Elimination of fractional reserve banking would also eliminate the problem of cascading defaults causing a catastrophic drop in credit and the money supply.

    whoo boy

    General Wesly Clark:

    ‘I said, “Are we still going to war with Iraq?” And he said, “Oh, it’s worse than that.”

    “… we’re going to take out seven countries in five years, starting with Iraq, and then Syria, Lebanon, Libya, Somalia, Sudan and, finishing off, Iran.”

    nuff said

    Rothschilds =/= neocohens

    They may very well be neocohens (no idea), but their wealth and power are much diminished from their 19th century peak. They’re no longer at the top ranks of global wealth at all, they got wiped out on the Continent, and banks associated with them aren’t noteworthy anymore. The most powerful single financier is probably Warren Buffet, and the most powerful bank is probably JP Morgan Chase (public, but originally tied to the Morgans and Rockefellers).

    Buffet and Dimon don’t seem to have strong views on America’s foreign policy at all.

    Wall Street is occupied territory. Ditto Hollywood, Vegas, DC, NYC and all the other black holes of greed and corruption.

    Wall Street is actually considerably less occupied than the other areas you mention. The time when only Jews lent money is long over. Three of the five largest banks have Irish CEOs. Financial literacy among Germanics and Anglos is very high.

    It’s obvious to me that our economy is structured in such a way as to crush the (White) middle class of this country and bolster the fortunes of the .01%. Duh.

    There’s a number of other people they’re crushing, but yes. However this is not down to THE BANKS, or rather not just down to them. “Free trade” and union-busting did most of the grunt work. The banks enter the picture with student loans and then various usury-products proles don’t have the self-discipline to resist (payday loans, credit cards, personal loans, etc.).

    It’s a zero sum game, and the playing field is not level. This is orchestrated at the top – down, and at the top of the food chain is Rothschild. Who owns most central banks, including the ECB and others. So when the politicians of England and France tell their citizens that the best thing for them is to flood their nations with stone age third worlders from Africa, I know this isn’t being done for the benefit of France or England. Duh, There’s a hidden ((hand)) working there. One with a grudge against the West, and a psychotic imperative to see the West utterly destroyed.

    The Rothschilds just aren’t that powerful or influential anymore dude. They’re still quite wealthy, but this is a far cry from the Victorian era with NM Rothschild boasted of his control over his control of the British money supply.

    The Rothschilds never had a banking presence in America, so they don’t own shares in any member Federal Reserve Bank.

    The ECB is owned by the national central banks of the Eurozone. The largest such national bank, the Bundesbank, is publicly owned.

    See this article about central bank ownership: https://theconversation.com/why-central-banks-with-shareholders-might-not-be-such-a-bad-idea-after-all-43574

    Do the Jews hate us? Broadly, yes. Central banking however isn’t a Jewish conspiracy or even invention. Like so much of capitalism it was invented by the Dutch. As I noted previously, Iran, that well-known tool of the Jews, has a publicly owned central bank.

    they’ve been at this for well over a century. Remember what I wrote about pres. Wilson and his ((advisors)), taking us to war with Germany, and funding the ((anti-White, genocidal Bolsheviks))?

    WASPs wanted war against Germany as well, and they still ran the country then. Admiral Rodman privately told the British before the war that owing to the blood brotherhood between America and Britain, Britain would eventually be able to count on America providing every man, dollar, and ship.

    The Bolsheviks got money from wherever they could, including the German Empire who gave Lenin 40 million gold marks and transportation to St. Petersburg. The actual muscle the Bolsheviks used in the early stages of the Revolution was Latvian.

    And let’s not forget that Wilhelmine Germany was not Nazi Germany. Chemical weapons for instance were invented by a patriotic German Jew. The German war economy was successfully supervised by a patriotic Jew as well.

    Our deterioration involves the Jews but is not solely attributed to them and frankly predates their emanicipation. “Feminism” for instance was invented in the 18th century by mentally ill Englishwomen. “Civil rights” we can thank the Quakers for inventing. And so on.

    I already explained the issue of inflation vis-a-vis the Fed’s printing press.

    and it’s not the corner commercial bank that’s the problem. It’s the Fed, working with the ECB, to enslave the planet to debt.

    I’m not enslaved by debt. Sounds like you’re not either. Borrowers make a choice (and I’m fine with regulation to stop them from making that choice).

    Debt isn’t always slavery. Debt can be very useful to the borrower.

    raw financial power

    do you know who the “Russian” oligarchs were working for when they looted Russia of her resources, and became some of the richest men in the world overnight?

    I get the sense that most of them were effectively ruthless criminals who also got lucky. Many of them were Jewish, but not all.

    What’s going on in the world today isn’t happening by chance, duh. It’s being orchestrated.

    Europe didn’t decide to commit suicide on their own. No one in America was ever asked to vote on massive, transformational immigration.

    These things are imposed from above. By the ((people)) who hold the puppet strings on the leaders of the dying West.

    [...]

    on whose behalf was Iraq destroyed, eh?

    you’re not stupid, so you have to know that all these wars on Israel’s rivals are being foisted by Zionists. Zionists who control our governments in absolute terms. And they didn’t get that kind of financial power by playing by the rules, in the West anymore than in Russia. Where a singular statesman has wrested his nation from their death grip, and this is why he’s reviled as the Hitler du jour from the length and breath of the zio-western media and governments.

    duh!

    Now you’re on firmer ground, but this is no longer related to banking.

    the above could have been written by Ron Paul himself.

    Nope. Ron Paul supports the gold standard, which I don’t (I wouldn’t have supported exiting the gold standard either however).

  351. anon[304] • Disclaimer says:
    @Thorfinnsson

    Pew Research Center of income/wealth distribution (published on December 9, 2015) shows that the systematic and escalating socio-economic polarization has led to a sharp decline in the number of middle-income Americans.
    The study reveals that, for the first time, middle-income households no longer constitute the majority of American house-holds: “Once in the clear majority, adults in middle-income households in 2015 were matched in number by those in lower- and upper-income households combined.” Specifically, while adults in middle-income households constituted 60.1 percent of total adult population in 1971, they now constitute only 49.9 percent.
    According to the Pew report, the share of the national income accruing to middle-income households declined from 62 percent in 1970 to 43 percent in 2014. Over the same period of time, the share of income going to upper-income households rose from 29 percent to 49 percent.
    A number of critics have argued that, using its proxies at the heads of the Fed and the Treasury, the financial oligarchy used the financial crisis of 2008 as a shock therapy to transfer trillions of taxpayer dollars to its deep pockets, thereby further aggravating the already lopsided distribution of resources. The Pew study unambiguously confirms this expropriation of national resource by the financial elites. 

    Today, between 35 percent and 40 percent of all consumer spending is appropriated by the financial sector: bankers, insurance companies, non-bank lenders/financiers, bondholders, and the like – https://www.counterpunch.org/2015/12/18/who-owns-the-federal-reserve-bank-and-why-is-it-shrouded-in-myths-and-mysteries/

    Obviously something is not working But the alternative to that something is not palpable or even evident in discussion .

  352. anon[304] • Disclaimer says:
    @Thorfinnsson

    American companies have been spending wildly lately, but that cash isn’t being used for R&D or innovation. Rather, it’s being spent to buy up gobs of company stock.
    In November 2016, Goldman Sachs’ chief equity strategist David Kostin estimated that, in 2017, S&P 500 companies will spend $780 billion on buybacks — a new record.
    That’s crazy.
    For most of the 20th century, stock buybacks were deemed illegal because they were thought to be a form of stock market manipulation. But since 1982, when they were essentially legalized by the SEC, buybacks have become perhaps the most popular financial engineering tool in the C-Suite tool shed. And it’s obvious why Wall Street loves them: Buying back company stock can inflate a company’s share price and boost its earnings per share — metrics that often guide lucrative executive bonuses.
    As Reuters wrote recently, “Stock buybacks enrich the bosses even when business sags.”
    https://www.forbes.com/sites/aalsin/2017/02/28/shareholders-should-be-required-to-vote-on-stock-buybacks/#f53ca0a6b1ef Feb 2017

    And next time when you buy eggs or airline ticket , remember that the debt on car loan has reached the unsustainable level and inflation is seen when you get a hair cut pay for internet service cable service , or plumbing ,tollway fees ,or whe=n you buy furniture, dryer ,dishwasher , and over the counter medicine . Even the prices of fry and burger have gone up .

    • Replies: @Thorfinnsson
  353. @anon

    Obviously something is not working But the alternative to that something is not palpable or even evident in discussion .

    Please stop confusing people with facts and insight, dammit!

    Don’t you know that “greed is good,” “debt is good,” and the “sky has not yet fallen?”

    Furthermore, da gubbermit is here to protect private property and the military protects us all, ‘kordin to de cornstitution, so you better vote cuz we live in a damocrasy! An’ dis iz a free kuntry; where else can multimillionaires dine on four double cheeseburgers (no bun, pleez), from McDonald’s for under eight dollars, while another noshes on bagels with caviar ‘n brie ‘n it’s no big deal?

    Now, go make some big bucks like the Dapper Dandies here and quit grousing!

    Oh, and there is no , and never has been, inflation and besides inflation is good, too!

    Note: The above is my pathetic attempt at satire and so is the below. My apologies.

    Geld ϋber alles! Wucher macht frei!

    • LOL: Thorfinnsson
    • Replies: @Thorfinnsson
    , @Sam Shama
  354. …remember that the debt on car loan has reached the unsustainable level…

    Speakin of de devil…

    Subprime Auto Delinquency Rates at Levels Higher than During the Financial Crisis
    By Peter Schiff

    SchiffGold.com

    May 19, 2018

    So far, small companies have borne the brunt of rising defaults.

    https://www.lewrockwell.com/2018/05/peter-schiff/a-double-whammy-for-the-auto-industry/

    Small companies have borne the brunt of rising defaults? Naw, can’t be…or, where have I heard such things before??

    Joseph Shechter declared that he would rather have gone to jail than foot the $60,000 cost of the legal battle; he had used up every nickel he had to pay only a part of it. Besides, the New Deal with its raised wages and high price of grain had ruined him financially. His business, which had earned $20,000 weekly prior to the New Deal, now earned only $2,000 to $3,000 weekly, and it was presently not func­tioning at all due to a consumer strike that had recently broken out against ko­sher butcher shops due to high pricing.

    The Strange Side of Jewish History Yated Neeman’s Jewish history

    http://strangeside.com/chicken-corporation-roosevelt-controversy/

    I wonder if the big money crowd gives a flip about the little guy? ANd there ain’t no inflation, either. The above proves it! ;)

  355. The Ruinously Expensive American Military

    We mammals seem to have some pretty “interesting” addictions…

    Here’s something similar.:

    Help! My Dog’s Addicted to Poo: Nightmare Pets SOS – BBC

    http://www.unz.com/video/bbc_help-my-dogs-addicted-to-poo-nightmare-pets-sos-bbc/#comment-2331527

    Goofy ideas such as the ultra-corny “greed is good” are aesthetically alike.

  356. @anon

    I do not dispute this logic. I further think that it is unhealthy for our country, despite being a member of the upper class (junior member).

    My position is that free trade, union busting, and concentration (both monopoly and monopsony) did this and are doing this.

    Lots of people are going off and blaming the nature of our financial system instead.

    • Replies: @jacques sheete
    , @anon
  357. @anon

    Stock buybacks should reach a new record every year, because every year the economy is large.

    Why are stock buybacks crazy?

    They are the most tax efficient way to give shareholders returns.

    And capital spending is in fact up. See here:

    https://www.bloomberg.com/news/articles/2018-04-26/trump-tax-windfall-going-to-capex-way-faster-than-stock-buybacks

    “Among the 130 companies in the S&P 500 that have reported results in this earnings season, capital spending increased by 39 percent, the fastest rate in seven years, data compiled by UBS AG show. Meanwhile, returns to shareholders are growing at a much slower pace, with net buybacks rising 16 percent. Dividends saw an 11 percent boost.”

    There is an argument for restricting or banning buybacks because companies have a bad habit of doing them when there would be better purposes for deploying said capital. But I’m highly skeptical of government regulation on this–like some middle class loser dweeb government bureaucrat knows what to do with money.

    There are, of course, many problems with executive compensation. In particular compensation plans which reward executives for appreciation in the share price in the short term.

    As for inflation, read my by now perhaps dozens of posts on this. It’s getting tiresome repeating myself, sorry.

  358. @jacques sheete

    This was quite amusing, but I have offered a lot of facts. Including the four McDonald’s double cheeseburgers. :)

  359. @Thorfinnsson

    Lots of people are going off and blaming the nature of our financial system instead.

    Well would you rather blame someone, instead?

    The current system seem rigged toward concentrating wealth and power in the hands of ever fewer, and if not rigged, then both monopolies and monopsonies strike me as evolutionarily inevitable.

    Anyway, it’s pretty evident that you’e a junior member of de upper Crust (though never kid yourself that you’ll get a ticket to the Ruling “Elite” Ball), and besides,

    This investing stuff is easy AND pleasant!”

    - THE MOGAMBO GURU, Home Again, and Hello Dante

    https://dailyreckoning.com/home-hello-dante/

    so you better keep on yer toes cuz there’s competition.

    Now what are your thoughts regarding the “Ruinously Expensive American Military?”

    • Replies: @Thorfinnsson
  360. anon[266] • Disclaimer says:
    @Thorfinnsson

    Yes the system has worked for 300 yrs The bulk of the sufferings were borne by people outside the system – Eastern Europe , China India Africa Latin America Natives, poor indigent white

    You can call it externalities like the ecosystem getting affected .

    Now they are at the doors with same system and power, we are faltering. But even before they (China India Japan ) became a threat , they systems were failing fraying and destroying itself .

    Printing money and forcing that money on the rest of the world is criminal pure criminal.

    • Agree: jacques sheete
    • Replies: @Sam Shama
  361. Hey Thor Baby, if yer such a hot shot investing guru, why’re you eating all them hamburgers, and shouldn’t you avoid wasting the buns? If yer so smart, then why are you not stashing them things instead of hoarding and growing dollars, or should it be shekels?

    At the same time, many Austrian economists say that government policies will end in inflation or hyperinflation. Do you think one outcome is more likely than the other?
    Mogambo Guru: I think we’ll get both. Things will change in relative value; the things that are now undervalued compared to everything else will become more valued.

    You are starving to death… nobody has any money… the economy has ground to a standstill. I’ve got a hamburger and I’ve got a ton of molybdenum. Which one do you want for your money?

    - PETER COYNE, Mogambo Guru: Of Course We’re Freakin’ Doomed!

    https://dailyreckoning.com/mogambo-guru-of-course-were-freakin-doomed/

    • Replies: @Sam Shama
    , @Thorfinnsson
  362. Sam Shama says:
    @jacques sheete

    (1) A stock buyback is another way to make a distribution to shareholders, just like dividends, except it is more tax efficient. When a corporation gets to the point where it either accumulates cash and does not have new projects with positive NPV to invest that cash, it is far better to return it to shareholders via buybacks or dividends. So no; making a buyback, according to GAAP guidelines, with the authority of the governing board, is the correct thing to do. As a shareholder of that corp, I’d insist that I have better NPV projects on hand.

    (2) Optimal debt for the economy is actually very good. Without debt, all government services and long-term investments would have to be financed through taxation. It can be done, however, that would impose a serious burden on current consumption to the point where the consumer economy can stall and start resembling a Soviet redux. In any case, as I showed you before, about $14 trillion of the $20tr of our current stock of debt is what we owe ourselves. This debt is nothing for the U.S. which per any number of estimates has public assets of more than $270tr: and that is without counting the value of the public R&D know-how possessed by the D0D etc.

    (3) The right amount of debt is also very good for the consumer at the individual level for a host of things I need hardly mention. Without consumer debt, the high level of homeownership, automobile ownership, etc, would never have been possible. That a small section of the population goes over its skis is no reason to start having an attitude that would bring us back to a medieval economy which you appear to propose.

    (4) There is inflation. Per the Core PCE it is slightly below 2%. The prices of foodstuff and gasoline are quite volatile, so while you might complain about steak prices going up in recent years, it is just as likely that these will fall that much or more in the years ahead. What is important is realise that nominal incomes have more than bested inflation.

    Your satire is actually quite funny though.

    • Replies: @MarkinLA
  363. Sam Shama says:
    @jacques sheete

    Taking ‘guidance’ from Austrian Economics is a contradiction in terms. It is possibly better than receiving advice on marital bliss from Trappist monks, but not by much.

    I wasn’t actually going to even click and read the link on your Mogambo guru, but I did anyway, thinking who knows, perhaps a new insight lurks in there? But no! Not even the tiniest pretence to wrap it in something resembling a sane idea. It is the same shite.

    Oh yes, it is just around the corner, galloping inflation! Hyperinflation!

    Tell you what Monsieur Jacques Sheete, if you believe that Hyperinflation is around the corner, you ought to take out as much fixed rate mortgage debt, personal debt etc as possible. Since your liability will be virtually wiped out with Hyperinflation. Are you going to do it?

    • Replies: @ChuckOrloski
  364. Sam Shama says:
    @Thorfinnsson

    Interesting opinions.

    It is not so much the car business as a whole, which is indeed brutally competitive, as the semiconductor-component-proportion of total value in cars going forward.

    MU is not a not a commodity stock, that is a mistake being made at the moment. Same with LRCX. Both trading a PE of 5 or thereabouts. :-)

    Charlie Munger and Buffet are fascinating characters. I used to make the annual pilgrimage but stopped a few years back, not because I sold my A shares, but thought I’d give it a break. But Buffet missed the tech train for many years and only recently has started to look at them, including some Israeli ones.

  365. Sam Shama says:
    @anon

    Printing money and forcing that money on the rest of the world is criminal pure criminal.

    It would be highly objectionable if the USD, which is the primary reserve currency, was indeed forced onto the world. It is not. USD is the main reserve on account of the economic strength of the US, including her private and public sector assets which are unassailable and will continue to be so for the foreseeable future. Certainly, China [and India to a much lesser extent] are economic forces to be reckoned with, but they are not about to replace the USD in any significant way in the medium term. In the very long-term, we can think of a more diversified basket of currencies, implying a more balanced global economy, with China and India buying more from the US, but that is a 50-year prospect.

    • Replies: @Paul C.
    , @KA
  366. @Sam Shama

    Par for the course, Maven Sam Shama speciously opined: “It is possibly better than receiving advice on marital bliss from Trappist monks, but not by much.”

    Hi Maven,

    Your arrogance is incurable, but there is little need for hammering Trappist monks on something that they do not specialize.

    As I know what you ARE, and knowing you don’t give a shit about what ancient and some modern Cistercian “Trappist” monks have contributed to civilization & society, I gallop away, Maven. Happy Dividends!

    For others here who are less keen on being betrothed to Jewish-driven debt, below is an interesting article on Trappist monk Thomas Merton’s letter-communications with John F. Kennedy’s sister

    http://www.merton.org/research/Correspondence/y1.aspx?id=1052

    They spoke on the president’s inner strength to resist what Merton called “unspeakable, anti-God & man, warmongering forces. F.y.i., Merton fretted JFK could not hold on!

    P.S.
    Following is a trapped dumb goyim joke:
    A former-hedge fund manager joined the Cistercian order in order to try it out. He was allowed to speak only once-per-year, using FEW & SIMPLE words, to the Abbott. So the 1st year passed, and he spoke to the Abbott, said, “Food cold.”
    The 2nd year anniversary, he said, “Bed hard.”
    And so on the 3rd year, he told the Abbott, “I quit!”
    The Abbott replied, “I am not surprised ’cause you’ve done nothing but complain since you arrived here!”

  367. @jacques sheete

    Been a long time since I’ve read the Mogambo Guru, LOL.

    Thanks for the laughs.

    • Replies: @Sam Shama
  368. @jacques sheete

    Well would you rather blame someone, instead?

    The current system seem rigged toward concentrating wealth and power in the hands of ever fewer, and if not rigged, then both monopolies and monopsonies strike me as evolutionarily inevitable.

    Anyway, it’s pretty evident that you’e a junior member of de upper Crust (though never kid yourself that you’ll get a ticket to the Ruling “Elite” Ball), and besides,

    I blame:

    1 – Free trade

    2 – Mass immigration

    3 – Union busting

    4 – Increasing economic concentration

    Now what are your thoughts regarding the “Ruinously Expensive American Military?”

    It’s not ruinous, but we’re wasting too much money on these army dweebs and not getting our money’s worth to begin with.

    • Replies: @anon
  369. @jacques sheete

    He even wrote out the word sarcasm …

  370. MarkinLA says:
    @Sam Shama

    (1) A stock buyback is another way to make a distribution to shareholders, just like dividends, except it is more tax efficient.

    If it is a real stock buyback where the float is actually reduced. As I have personally seen, a lot of stock buybacks are used to hide the huge stock options grants given to the corporate higher ups.

  371. anon[228] • Disclaimer says:
    @Thorfinnsson

    All this will soon be compounded by financial collapse. Wall Street banks have been handed $16 trillion in bailouts and other subsidies by the Federal Reserve and Congress at nearly zero percent interest since the 2008 financial collapse. They have used this money, as well as the money saved through the huge tax cuts imposed last year, to buy back their own stock, raising the compensation and bonuses of their managers and thrusting the society deeper into untenable debt peonage. Sheldon Adelson’s casino operations alone got a $670 million tax break under the 2017 legislation. The ratio of CEO to worker pay now averages 339 to 1, with the highest gap approaching 5,000 to 1.

    C Hedges in common dreams.org

    • Replies: @Thorfinnsson
  372. @anon

    So I assume you’ve loaded up on SPY put options then, right?

  373. Paul C. says:
    @Sam Shama

    It would be highly objectionable if the USD, which is the primary reserve currency, was indeed forced onto the world. It is not.

    In 2002, Iraq sold their oil for Euros (vs. $) under the Oil for Food program. We know what happened in 2003. In Libya, Gaddafi announced their oil was for sale in the gold Dinar and Euros (vs. $). Libya was then invaded and Gaddafi killed. These 2 countries did not have Private Central banks (controlled by the criminal Int’l bankers) but they do now.

    Venezuela who decided to sell their oil to China for the Yuan was recently targeted.

    BTW, the 7 countries that Wesley Clark informed us the Pentagon had targeted following 9/11 all did not have a Private Central bank.

    Allowing Private bankers to control a nation’s currency is complete surrender of sovereignty. Thus the US is fully enslaved and subservient to the zionist bankers. This explains our foreign policy and wars for Israel.

    • Agree: jacques sheete
  374. @Paul C.

    In 2002, Iraq sold their oil for Euros (vs. $) under the Oil for Food program. We know what happened in 2003.

    The Project for a New American Century was established in 1997, and the Iraq Liberation Act became US law in 1998. The late 90s was a time of great Dollar strength.

    The Bush administration discussed the idea of invading Iraq on the same day 9-11 happened. Military planning for the invasion apparently started on November 21, 2001.

    See here Rumsfeld’s efforts to find justifications: http://www.msnbc.com/msnbc/building-momentum-regime-change-rumsfe

    In Libya, Gaddafi announced their oil was for sale in the gold Dinar and Euros (vs. $). Libya was then invaded and Gaddafi killed.

    It now appears that Sarkozy cooked up the invasion of Libya in order to cover the fact that he had accepted bribes from Gaddafi. At the time the justifications he offered were preventing competition by the new gold dinar against the Central African Franc, increasing oil marketshare for French companies, and human rights after taking a phone call with the Franco-Jewish airhead Bernard Henri Levy who was partying with the rebels.

    Without even consulting his foreign minister, Sarkozy phoned up David Cameron and talked him into the scheme. After getting their No Fly Zone, Britain and France began attacking Libya. After it was clear they needed American support, a reluctant President Obama was talked into this by Hillary Clinton (Diamond Joe Biden was opposed). Gold was a motivator for Hillary, but not to protect the Dollar. Rather one of her cronies seized some Libyan gold or something, forgot the details.

    I don’t know the ownership structure of Libya’s current central bank, but Iraq’s central bank is owned by the state and its privatization is banned by the constitution. Not that private central banks are a problem.

    Venezuela who decided to sell their oil to China for the Yuan was recently targeted.

    Venezuela has been targeted at least since 2002, and in any case proceeded to ruin its own economy.

    BTW, the 7 countries that Wesley Clark informed us the Pentagon had targeted following 9/11 all did not have a Private Central bank.

    Most countries don’t have private central banks anymore. Germany for instance does not have a private central bank. I guess we’ll be attacking Germany soon.

    Allowing Private bankers to control a nation’s currency is complete surrender of sovereignty. Thus the US is fully enslaved and subservient to the zionist bankers. This explains our foreign policy and wars for Israel.

    What are you, a socialist? What do you have against the private sector? :)

    • Replies: @Paul C.
    , @KA
  375. Chucky787 says:

    The sooner this country falls the better it is to start fresh again.

  376. m. says:

    When the dmf’s in this nation outlaw aid to Israel (continuing the strident efforts of the muslim traitor) then expect usa to get flushed permanently.

  377. myself says:
    @Paul C.

    As a financial layman, I have never understood the reason for private Central Banking.

    Is not control of the money supply one of the pillars of state power? Why would any government leave it to private interests?

    I simply fail to see the logic. “Private Central Bank” seems like an oxymoron.

    • Replies: @Thorfinnsson
  378. @myself

    It’s an artifact of earlier times when states were smaller, weaker, and more dependent on the support of the bourgeoisie (and nobility) for their power and in particular access to money.

    The earliest central banks didn’t have central banking functions as we understand them today. They were granted monopoly privileges (note issue and possession of government deposits) and corporate charters (in the 17th century one couldn’t simply “incorporate” as one does today). The purpose of this was to finance government debt, the principal purpose of which was war.

    Repeated failures of clearing banks and periodic banking crises led to central banks evolving into central clearing houses for interbank payments and acting as lenders of last resort.

    The issue of money itself in these times remained with the state, as only the state could strike coins of gold and silver. Bank notes were redeemable in these coins. As time went on, credit issued by banks (mostly NOT issued by central banks) came to dominate the circulating supply of money, and ultimately the gold standard itself disappeared. Gold does maintain importance in central bank reserves, however.

    In modern times most central banks were taken into public ownership, contrary to what hard monkey cranks believe. They persist in private ownership in a few countries like America, Britain, the Netherlands, Denmark, Italy, and no doubt a few others. Austria I believe nationalized their central bank in 2010. This private ownership of central banks is not however like private ownership of farmland. The entities are regulated, supervised, and have personnel selected by their national governments.

    It’s just some weird thing people choose to be outraged about without knowing much about it. The poster you responded to for instance thinks that America attacks countries because they have publicly owned central banks, ignoring the fact that most of our NATO allies have publicly owned central banks.

    • Replies: @KA
  379. Paul C. says:
    @Thorfinnsson

    Most countries don’t have private central banks anymore. Germany for instance does not have a private central bank. I guess we’ll be attacking Germany soon.

    I think you’re wrong that the Bundesbank is publically owned. Maybe a small % is for PR. Germany is 100% zionist controlled since WW2. Look at their Freemason puppet (similar to our’s).

    https://www.google.com/search?q=merkel+freemason+hand+signs&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiqi9rP-5fbAhVoja0KHc1IAv8Q_AUICigB&biw=1385&bih=907

    Do you think the average German wants millions of immigrants from the Middle East? Or does that sound like the Kalergi Plan, foisted upon them by the Zionists in charge? The zionist EU is legislating mass immigration into Europe.

    https://sovereignwales.com/2016/09/20/the-genocidal-kalergi-plan-to-destroy-the-indigenous-nations-and-peoples-of-europe/

    Understand that I’m advocating each sovereign country control their own currency, rather than a small group of International bankers controlling the central banks for all, which is effectively communism. Are you an apologist for communism?

    I don’t begrudge you from trying to make a profit in our current system, but just understand the reality. It’s not “free enterprise”. Just like Europe doesn’t have “free speech” as 18 countries have made it a jailable offense to contest the Holocaust.

    • Replies: @KA
    , @Thorfinnsson
  380. It’s not “free enterprise”

    Bingo.

    I had to laugh when he wrote that he’d blame “free enterprise.” I really can’t tell if he’s just here to pull our chains for the kick of it, or whether he really believes some of the stuff he writes. Some of it is entertaining, little of it deserves a rational response.

    The closest this country has ever come to free enterprise is better described as a free for all, but only for the big bucks crowd. The middle classes keep having to shoulder the bill for both extremes. It’s a wonder this pathetic system somehow keeps limping along despite itself.

    It’s just nuts, and when the plug gets pulled on relatively cheap energy we’ll all understand how pathetic it is.

  381. KA says:
    @Sam Shama

    You say it is not forced !! You must be joking . Oil is bought and sold in dollars . Dollars is not supported by any asset . Dollars can be printed by US only . The rest of the countries have no say how much ,when and for what reasons dollars are or will be printed for.

  382. KA says:
    @Thorfinnsson

    Thorfinnsson
    Your details are excellent for history lesson of politics . But not relevant to the mechanism behind the dollar hegemony .

    Let’s try this

    More countries want to buy oils . Those countries have to find dollars . They can’t pay by working, by producing gold, by making software or by selling eggs . They have to turn those into dollars . The “dollar” country says no or yes .- . Dollar country can say yes for doing torture on behalf of dollar country or can say no for not allowing the insurance or health industry open up to dollar country.

    Absolute non democratic unjust uncouth antihuman control by dollar country-

    The country selling the oil now finds more customers so it increases the price . Oil country finds certain oil exploration item not available , so it increases oil price . Many reasons.

    Dollar country pays more . Prints the money . But the consumer in the dollar country pays more also .
    His salary or daily wages don’t go up. People living off other sectors of the economy also pays more for oil an oil based products – transport, chemicals, dairy, . It affects everybody . But the salary doesn’t go up and daily wages don’t go up.

    Now the government has printed the money . But the money is not printed by Government but by Fed
    Fed is private and it doesn’t have asset to support the printing . It has decree to print. With those money people have bought their daily needs . Those daily needs are the asset that Fed owns now. Government doesn’t own. Government owes money to Fed . Taxpayer owes to Fed. So though the citizen have produced the value of the labor now stored in dollar , the dollars don’t belong to them but owed to Fed because Government owes to the fed.

    A country “X” has no way to pay for oil. Dollar country gives the dollars to him. That country is now owned by Fed now. Fed doesn’t produce anything . It prints money . Fed is not alone. It is family . Some people connected to the family member goes to make more money out of that country. That country will oblige . Fed also knows the monetary situation and has insider information also has the idea how future would look like . After all it has created its economy now. That information can be passed to connected and known entrepreneur. Entrepreneur makes money . Isn’t he genius now!! All high IQ!

    To make this process big ongoing and automatic, you make laws , create institutions like IMF and WB and how dollars moves and how dollars can be used to do non -dollar related job like monitoring democracy you don’t like or color revolution you promote .

    Fed claims it has to remain independent of the politicians . It doesn’t teach the fact that it is trying to maintain its independence from the citizen ,from the workers ,or from the laborers . Our labor and hard work has been turned into a mediating exchange ( that what currency is ) but not in our control

  383. KA says:
    @Paul C.

    Even if it is government owned , it doesn’t matter.

    Just like the central bank of india or S Africa .despite government owned, doesn’t or can’t affect the economic trajectory of India or S Africa.

    In many ways this banks are dependent on Fed. Because their countries economy ( military , civil supplies food medicines transport education ) is dependent on dollars or on American made machines or components if machine . These countries also need access to the market of US . They also have to buy oil in dollars .
    They can do it in Euro but US can shut down the part of the foreign economy that is dependent on it – US market , parts and components .

    But it gives beyond . It will ask Euro countries that India or S Africa can’t do business with those European services or use those parts that have connections to US .

  384. KA says:
    @Thorfinnsson

    Yes thats the way it developed But in the process it took away the fundamental right of the citizen and the country that is to turn and store asset or services (labor) into citizen/country owned currency or medium of exchange . It did not have to .But it happened .

    Business have used bill promissory notes and other instruments for conducting business But they were not created out of nothing There was always tangible asset or deliverable services .

    • Replies: @Thorfinnsson
  385. Sam Shama says:
    @Thorfinnsson

    Check out Micron. Up almost 20% in 3 days! 3-D Nand shipments have started. Micron prob the best technology/producer of this generation of Nand. Hynix and Samsung there, but Intel and MU are the leads.

    • Replies: @Sam Shama
    , @Thorfinnsson
  386. Sam Shama says:
    @Paul C.

    If it makes any meaningful difference to change the Fed to a “Public Institution”, other than in name, then we should. As set up now, it makes little tangible difference. All of the Fed’s revenues, save direct costs are sent to the US Treasury. Top Fed officials are appointed through congressional approval and the Chairperson is appointed by the POTUS with Senate confirmation.

    The Fed is essentially a governmental custodian/ exchange-platform for the US banking system. The Fed and Treasury act in tandem during periods of financial distress when a lender of last resort is needed.

    US currency, its monetary base and policy are therefore in every non-trivial way under the purview of the sovereign. Since the creation of central banking the volatility of nominal gdp has been a great deal lower and normal recessions slower. The great financial recession of 2008 was a pure fuck up on the part of the banking system and its regulators. Do you mean to say that just labelling the Fed-system as “Public” would somehow render it infallible?

    • Replies: @Paul C.
  387. Sam Shama says:
    @Sam Shama

    ** not 3 days but about a week

  388. @Paul C.

    It is a very strange leap from privately owned central banks, or central banking period, to the Kalergi Plan. Central banks date to the 17th century.

    Germany is indeed Zionist controlled, but the Bundesbank is publicly owned whether or not you agree. The Basic Law of the Federal Republic obligates the state to establish a central banks, which was done with the Buba Act in 1957.

    It sounds to me like decades of brainwashing, induced by a mix of Zionists, the victorious Allies, communists, etc. made the Germans guilt-ridden and ashamed of their nation and culture. Whether or not anyone was consciously following Kalergi’s idea I have no idea.

    I have previously in this comment thread endorsed experiments with other monetary systems, as the current system is overly pro-cyclical (though not as bad as the gold standard) and leads to too much allocation of credit to nonproductive purposes.

    And sure, sovereignty is an issue here, particularly for foreign countries vulnerable to abuse by America (yes, often on behalf of Israel).

    • Replies: @Sam Shama
  389. @KA

    I don’t accept the concept of fundamental rights. At all. It’s just something Enlightenment cranks made up. As a practical matter rights are legal or customary.

    And I DO in fact have the right to save and routinely exercise this right.

    It is true that credit today is effectively created out of nothing. So what?

  390. @Sam Shama

    Congrats. Sounds like a good swing trade in light of the fact that the trend is your friend.

    I am getting in on the great bear raid against Tesla, which I’ve been agnostic on (mostly ignoring it) other than being skeptical. Did a lot of research over the weekend, and the findings were quite disturbing. Musk will be lucky to avoid a prison sentence.

    Tesla is going to zero, barring something like Musk getting a large commitment from Crown Prince Mohammed bin Salman.

    There are no shares available to short, but puts suit me just fine. JP Morgan Chase will be coming out with Tesla credit default swaps as well. That said actually selling the swaps could be a problem.

    • Replies: @Sam Shama
  391. Paul C. says:
    @Sam Shama

    The Fed is the de facto gov’t of the US. The Treasury and other agencies are window dressing. The Fed volunteers a list of potential candidates for the President to choose as Fed Chairman. Therefore, the fix is always in.

    We most certainly need to take control of the Fed and arrest the bankers for treason, which is what they’re participating in. You have no idea how the Fed is run, how much money is being created and where it goes, because the institution is closed to scrutiny. You’re gullible to believe anything else.

    Would you play Monopoly with someone who has unlimited access to the bank? Of course not. Why would we allow this in our country? It happened through bribery and through the influence of money the evil system survives.

    Here’s a petition to end it: http://endthefedreserve.com/

  392. Sam Shama says:
    @Thorfinnsson

    the current system is overly pro-cyclical (though not as bad as the gold standard) and leads to too much allocation of credit to nonproductive purposes.

    Perhaps you are speaking of the general inclinations of the credit and capital markets. The Fed’s policy by design and charter is counter-cyclical and more often than not the Fed has overshot and put the economy into mild recessions. Gold Standard is obviously pro-cyclical.

    I think over-allocation/misallocation of capital is the symptom of a world awash in excess savings over desired investments. This, of course, has to do with inequality of income and savings. Marginal propensity to save rises with income; not all that different from mature companies not knowing what to do with incremental revenues.

    You are right about the Buba charter, but I don’t think they are in any way controlled by Zionists :) Axel Weber and Jens Weidemann would passionately disagree with you. I’d say they are happy to work closely with the Fed model as it offers a way for Germany to obtain the benefits of a weaker Euro for their exports.

  393. Sam Shama says:
    @Thorfinnsson

    I am getting in on the great bear raid against Tesla, which I’ve been agnostic on (mostly ignoring it) other than being skeptical. Did a lot of research over the weekend, and the findings were quite disturbing. Musk will be lucky to avoid a prison sentence.

    Tesla is going to zero, barring something like Musk getting a large commitment from Crown Prince Mohammed bin Salman.

    There are no shares available to short, but puts suit me just fine. JP Morgan Chase will be coming out with Tesla credit default swaps as well. That said actually selling the swaps could be a problem.

    I am considering it [the Tesla raid] as well. Musk has a bit of a G’d complex and has literally burnt investor capital for whatever the f*k caught his fancy. But I haven’t done in-depth research on it. MbS might indeed inject some capital into it, in which case there will be a bad short squeeze. Tesla autonomous accidents are also a worry. [There was a new one yesterday where the car crashed through a fence in the countryside going 35 mph, then falling into a lake, killing the driver]

  394. @Sam Shama

    I was referring to fractional reserve banking, not the FED specifically or central banks in general. In fractional reserve banking, new money only enters the system if creditworthy borrowers are available willing to take out debt (granted, the government can always take this role). Repayment of debt results in the money being “destroyed”, and cascading defaults in particular can cause catastrophic deflation. I realize that central banks exist to deal with this, and the gold standard was eliminated for similar reasons.

    As noted earlier I like the idea of new money instead being spent into circulation interest-free on public capital expenditures, as advocated by the MMT school. Unlike the MMT school I don’t think there is any free lunch here, so the amount would be limited on based on rules to limit inflation. This would reduce government interest expenditures (not eliminate them for obvious reasons, and a market in risk-free securities should always be maintained) and be especially useful in downturns.

    The banking system would move to full reserve banking, eliminating the possibility of major fluctuations (particularly downward ones) of the money supply. It would not eliminate them as there’s still things such as the extension of commercial terms, but that’s not a bad thing (need some elasticity).

    To prevent ordinary people from being required to pay for payments services, the government would operate the only fractional reserve bank in the country. People could make free demand deposits in a government controlled banking holding capital in government bonds, the interest of the bonds covering the cost of operations.

    This isn’t the sort of thing I’d bother trying to implement in the USA however, as the existing system works. Just a novel idea.

    • Replies: @Sam Shama
  395. @Sam Shama

    Realized I forgot to reply completely.

    When I refer to misallocation of capital, I don’t mean capital that serves no purpose per se. Just that the capital deployed doesn’t contribute to economic growth necessarily, as capital can be profitably deployed for other purposes such as accumulation of existing assets (see: Berkshire Hathaway) or even usury (credit cards, payday loans, personal loans, etc.).

    Now today with such low interests perhaps it hardly matters. I’m not so sure that it’s a savings glut (except in relative terms) so much as the graying of the advanced peoples of the world means a reduced demand for investment.

    But historically interest rates have not been this cartoonishly low, so controls on the extension of credit would’ve reduced the cost of capital investment. Trade-offs here as well as consumer credit often ends up financing small business creation.

    Regarding the Buba, no the Buba isn’t strictly speaking under Zionist control. I’m not even sure what Zionist control would entail, I point I repeatedly make to the opponents of central banking here who keep typing it to Zionism. The German government however is, hence why it does such sad things as literally giving free u-boats to Israel.

  396. Sam Shama says:
    @Thorfinnsson

    I have no fatal disagreements with MMT. Under normal circumstances in an economy not in a Liquidity Trap, there ought not to be significant differences between what we have presently, and what MMT proposes. The main attraction is, as you noted, the sovereign cannot go bankrupt under that arrangement.

    One might argue that towards the final stages of QE3 the Treasury was indeed engaged in seignorage with the central bank, i.e, engaged in financing its deficit on an interest-free basis [and of course, that financing was not for useful infrastructure, but for all manner of hogwash spending].

    All of that is fine, if the demand for short-term funds is intact, as well as the demand for longer-dated bonds. The trouble arises if for whatever reason the demand for long bonds vanishes. Under MMT the govt would merely issue new currency and cover its payment needs [via crediting the commercial banks]. The banks, of course, continue to use their reserves to lend. I think this leads to very high inflation, even hyperinflation. Printing money to finance spending plans is far more inflationary than bond-based financing. I realise you are proposing full-reserve banking, but then you’d likely be stifling private demand for funds [I am not sure about this and have to think through it. But in any case under full-reserve banking, I don't think bank stocks would be all that attractive]

    Do I think MMT is a bad idea? No. If stipulated for +ve NPV Infra projects, it can be really good. However, the system should retain the flexibility to switch to bond financing when indicated.

    Now today with such low interests perhaps it hardly matters. I’m not so sure that it’s a savings glut (except in relative terms) so much as the graying of the advanced peoples of the world means a reduced demand for investment.

    Very possibly an important reason. We need lots of babies!

    • Replies: @Thorfinnsson
  397. @Sam Shama

    Bond financing for state expenditures would remain for the obvious reason that one wishes to avoid a high level of inflation–even with the caveat that new money is spent on public capital expenditures.

    MMT “finance” of public capital expenditures (or other gov’t spending) in a fractional reserve banking system would indeed probably result in high inflation, and perhaps even hyperinflation.

    I don’t think full reserve banking would stifle private demand for funds. Right now banks borrow from depositors, and the deposits constitute liabilities which can be redeemed at any time. In a full reserve banking system banks would sell bonds and issue equity instead, and their lending would not result in the creation of money. Loan repayment wouldn’t destroy money either.

    With no risk of bank deposits being destroyed, there would be no particular need to regulate banks either. The return of bank failure could actually accomplish what the FED haters in this thread want (though there will always be manias–crypto didn’t need no freaking banks).

    The stocks wouldn’t necessarily be bad and that is in any case a separate matter.

    The state operating a fractional reserve bank to offer free checking accounts, or even accounts with some interest (portfolio profits minus operating costs) would be both a populist measure and one to prevent people just hoarding cash. These bank branches could just operate out of post offices.

    I’m sure these days free checking accounts could be offered by the private sector as well, but the price of that I assume would be pervasive data collection about consumer purchasing.

    • Replies: @Sam Shama
    , @anon
    , @anon
  398. Sam Shama says:
    @Thorfinnsson

    The state operating a fractional reserve bank to offer free checking accounts, or even accounts with some interest (portfolio profits minus operating costs) would be both a populist measure and one to prevent people just hoarding cash. These bank branches could just operate out of post offices.

    I’m sure these days free checking accounts could be offered by the private sector as well, but the price of that I assume would be pervasive data collection about consumer purchasing.

    There’s a friend of mine, a native of Minnesota, with a PhD [econ] from UMinn who says precisely that. I tend to buy the argument and it would indeed be a very popular structure, so I’d support it. Jamie Dimon probably would not :-)

    Nice discussion.

    • Replies: @ChuckOrloski
  399. anon[228] • Disclaimer says:
    @Thorfinnsson

    As America’s largest corporations continue their unprecedented stock buyback spree in the wake of President Donald Trump’s $1.5 trillion tax cut, new government data published on Tuesday showed that U.S. banks are also smashing records thanks to the GOP tax law, raking in $56 billion in net profits during the first quarter of 2018—an all-time high

    The new data, released by the Federal Deposit Insurance Corporation (FDIC), comes as the House of Representatives is gearing up to pass a bipartisan deregulatory measure that would reward massive Wall Street banks like JPMorgan Chase and Citigroup while dramatically increasing the risk of another financial crisis.
    Most Americans, meanwhile, have said they are seeing very few noticeable benefits from the massive tax cuts and—according to a new study by United Way—nearly half of the U.S. population is still struggling to afford basic necessities like food, housing, and healthcare.

    https://www.commondreams.org/news/2018/05/22/all-time-highs-stock-buybacks-and-bank-profits-workers-languish-trumps-america

  400. anon[228] • Disclaimer says:
    @Thorfinnsson

    I wonder if you can shed light on how the money printed for QE gets channeled down the food chain.
    How does the money come from Fed to bank to consumers?, hedge fund, vulture funds, ? where does Junk bond fit in?

    Thanking in advance.

  401. @anon

    Why did you make these two posts in response to my discussion with Sam Shama about MMT and full reserve banking?

    That said I’ll respond to you.

    In any case, yes, higher reported after tax profits are an obvious consequence of a corporate tax cut. I’m not sure what constitutes unprecedented stock buybacks, as opposed to stock buybacks with precedent. As noted earlier, stock buybacks are a tax efficient way to return capital to shareholders. The downside compared to dividends is that the returns aren’t guaranteed (see General Electric for evidence of this).

    One would not expect the tax cut to provide immediate benefits to most Americans, because most Americans pay very little in federal income tax (I’m well aware that they pay a lot in payroll taxes).

    The good news is that capital spending is up strongly: https://www.bloomberg.com/news/articles/2018-04-26/trump-tax-windfall-going-to-capex-way-faster-than-stock-buybacks

    Naturally we don’t know to which degree this can be attributed to the tax bill.

    As for bank deregulation, the subject is so complicated that it’s not worth getting into here. Banks are at the same time both massively over and under regulated.

    I can’t comment on the United Way’s ALICE project, and looking at their website it seems like it would take some serious spadework to go through it. That many Americans have been struggling for decades now is not news.

    As for your specific operational questions about finance in your second post:

    I wonder if you can shed light on how the money printed for QE gets channeled down the food chain.

    QE ended in 2014, but basically the FED conducted open market purchases at a level unprecedented since WW2. It purchased large amounts of federal government debt and mortgage backed securities. See here:

    The theory was that driving down interest rates would induce lenders to loan out funds.

    This basically didn’t work since interest rates are a supply side factor, and the demand for loans from creditworthy borrowers was low after the crisis.

    How does the money come from Fed to bank to consumers?

    Generally, most new money enters circulation from the banks themselves, not the FED.

    The mechanism is quite simple. Whenever banks make loans, that results in new money in circulation. Repayment of loans destroys money, see here: http://positivemoney.org/how-money-works/banking-101-video-course/how-money-gets-destroyed-banking-101-part-6/

    Outside of open market operations (which generally are modest, WW2 and QE were exceptions), the FED can also create money by lending to banks. The FED is pretty opaque on this, but FED lending to banks mainly exists to deal with illiquidity. Some central banks do not practice this (the Bundesbank traditionally did not, for instance).

    In terms of reaching consumers, most bank loans go directly to consumers in the form of mortgages, car loans, credit cards, etc. Banks loans to businesses indirectly flow to consumers in the form of wages, at least to the extent that the loans help the businesses expand and thus take on more staff.

    hedge fund

    Hedge funds aren’t banks and thus can’t get money from the FED. Depending on their creditworthiness they can and do borrow from banks, but their primary source of capital is wealthy individuals (who must be accredited investors per the SEC’s regulations) and pension funds who agree to invest under fairly strict rules (minimum investment requirements, lockup requirements, etc).

    Hedge funds are also a declining sector on Wall Street, as they’re no longer needed for hedging (if they ever were) and no longer generate alpha (excess returns). They’re now mainly noted for excessive management fees.

    vulture funds

    Vulture funds are simply funds which purchase distressed debt, generally though not always with a plan to pressure the debtors into making payments of some kind which exceed the cost of the debt.

    Paul Singer is probably the most (in)famous example. His fund is organized as a hedge fund

    • Replies: @KA
  402. @anon

    Sorry, missed this one:

    where does Junk bond fit in?

    Junk bonds are simply corporate bonds (debt securities) for corporate borrowers with poor creditworthiness. The business equivalent of a subprime loan, and as you would expect default is more common than with investment-grade borrowers.

    Strictly speaking it means they’re rated at BB or less by Standard & Poor’s or Ba or less by Moody’s.

    Banks are unlikely to buy much if anything in junk bonds as they’re required to hold high quality capital in general, so the main customers are institutional investors (pension funds, bond funds, etc.).

    They were famously pioneered by Michael Milken. Among their early purposes was to buildup Las Vegas once the business community took over the mob, requiring a different source of capital than the Teamsters.

  403. @Sam Shama

    Hi Maven Shama, The Washed-Up Soothsayer,

    Remember last year when an anonymous U.R. commenter explained how envious are Brits of German ingenuity, industriousness, & success? As typical you talked down to “anonymous.”

    But, but, voila, refer to the reality below?

    http://www.presstv.com/Detail/2018/05/23/562639/Britons-dash-to-become-German-before-Brexit

    • Replies: @Sam Shama
  404. Sam Shama says:
    @ChuckOrloski

    What on earth are you talking about?

    • Replies: @ChuckOrloski
  405. KA says:
    @Thorfinnsson

    I also have a question ,actually 3

    The theory was that driving down interest rates would induce lenders to loan out funds.

    This basically didn’t work since interest rates are a supply side factor, and the demand for loans from creditworthy borrowers was low after the crisis.” ————-

    How buying by Fed federal government( debt and mortgage backed securities. See here:) leads to lower interest rates ?

    Why despite low interest from ( exacted by Gov/Fed Res from banks) , the same is not reflected in Student ,car,house loans?

    Another question – why does China has to park dollars in US and what does US do with the money ?

    Thanks a lot for your input.

    • Replies: @Thorfinnsson
  406. @KA

    How buying by Fed federal government( debt and mortgage backed securities. See here:) leads to lower interest rates ?

    Increased demand for bonds leads to lower interest rates, because borrowers can then offer a lower rate and still sell their bonds.

    The FED alone isn’t responsible for the low rates during the QE period either. During recessions there is a “flight to safety” as investors seek to preserve capital (often, irrationally), and despite the periodic debt ceiling fights US government debt is viewed as one of the world’s safest assets.

    Why despite low interest from ( exacted by Gov/Fed Res from banks) , the same is not reflected in Student ,car,house loans?

    Student, car, and house loans are all historically quite low.

    They have higher interest rates than US government debt because the borrowers are less creditworthy. I don’t have the figures handy (not hard to look up), but students, car owners, and home owners all fall behind on their debt service or default outright from time to time.

    The US government has never defaulted and thus borrows for lower cost than anyone else. There’s also institutional demand for government debt in the form of bank capital requirements and legal restrictions in the FED charter (the FED is not allowed to buy private sector securities, unlike the ECB and BoJ).

    China runs a large current account surplus, and thus has to do something with all the surplus Dollars it receives. For many years it invested these in US government debt, mainly to keep its currency from appreciating. A few years ago it stopped adding to its stockpile and now pursues other investments. China just sits on the bonds and collects interest.

    Strictly speaking China doesn’t give money to the US government directly, it buys existing debt from the bond market. Unlike stocks these bonds don’t trade on exchanges, but rather are traded over the counter between broker-dealers and institutions.

    The Treasury Department sells new bonds (and other debt products) to Primary Dealers, which are banks which act as counterparties to the New York Fed for the implementation of monetary policy and bid at Treasury Dept. bond auctions. You can see a current list here: https://www.newyorkfed.org/markets/primarydealers.html

    Average daily volume in the Treasury bond market is about $500 billion, and if China (or anyone else) wants to place an order they place a buy order with a broker-dealer.

    A small (probably trivial) amount of bonds are also sold directly to the public in the form of savings bonds. They are available at http://www.treasurydirect.gov. The Series I Savings Bond is a good product for savers as it is an inflation-protected cash equivalent which pays interest.

    Most money the US government gets from new bond auctions is used simply to roll over existing debt (kind of like a credit card balance transfer you could say), and some is of course used to cover the deficit.

    • Replies: @Newyork
  407. @Sam Shama

    Maven Sam Shama needed an Elie Wiesel Nobel reminder on “memory” and asked me: “What on earth are you talking about?”

    Hi Maven,

    Have not sufficient time to search through excellent “anonymous” comments made to you but I shall try to restore your memory.

    Eh hem…, At least a year ago you tried to spar with an intelligent “anonymous” U.R. commenter until he/she got the best of you.

    The issue was your bragging about Zionist Jew resources to monitor and compile a formal list of dumb goyim “anti-Semites” who inevitably would be held accountable to the ZUS law.

    It was the same “anonymous” commenter who told you about British envy for Germany’s economic vitality, success.

    You dissented, Maven, and as typical, you now forget and run!

    Ciao.

    • Replies: @Sam Shama
  408. Sam Shama says:
    @ChuckOrloski

    Woody, do you know your prose is veering away from the elderly, cranky yet ‘umble, school bus driver routine you usually concoct? Just a friendly reminder. Perhaps you & Missus Woody haven’t fed yourselves the requisite quantities of Dunkin Donuts offerings lately?

    As to whatever you are blabbering about I really cannot recall, yet I doubt I’d have said anything contrary to what is demonstrably true: the deep co-operation that exists between the Euro economies and America.

    Ciao? As in the informal Italian ‘Hi’? Whatever happened to the post rectums etc, etc?

    • Replies: @ChuckOrloski
  409. Newyork says:
    @Thorfinnsson

    The US government has never defaulted”

    But US gov has been guilty of not paying the creditors in the 60s and 70s It wiggled out of it by the sleight of hand , by getting out of Gold/Silver.

    • Replies: @Thorfinnsson
  410. @Newyork

    Inflation affected all creditors equally, and thus the risk premium of other debtors over the US government remains.

    It is also worth noting that inflation broke out before Nixon exited the gold exchange standard. It was 4.7% when he took office.

    Nixon of course did not improve things, as the end of the gold exchange standard meant he could lean on Arthur Burns to lower interest rates in order to goose the economy to assure Nixon’s reelection. Still seems to me that the Energy Crisis was the number one cause of the high inflation of the 70s.

    The end of the gold standard has made long duration bonds an irrational financial instrument (yet they’re still sold) and placed a penalty on holding cash.

  411. @Sam Shama

    Hi Maven Shama,

    I am alerting U.R. Operation Comment Specialist, geokat, in order to ask if he can recover the bloviating comment you made to “anonymous” as to how your tribe is monitoring & codifying “anti-Semitic” free speech made by dumb goyim Americans.

    Notching up the boast which might have elicited truth, you projected the omnipresent Jews’ use of such data-base for inevitable retaliation purposes.

    Post scriptum: I used “ciao” so that I could compete with you & Buttboy InZitatus when your prose goes “speaking in tongues.”

    (Zigh)

    Scranton Calling geokat! Will be sweet to pin down the Maven on this important ZUS censorship-initiative upon which he panicked under “anonymous’s” logical pressure! Doubtful, but maybe he’ll fuss up?

    • Replies: @Sam Shama
    , @geokat62
  412. Sam Shama says:
    @ChuckOrloski

    bloviating comment you made to “anonymous” as to how your tribe is monitoring & codifying “anti-Semitic” free speech made by dumb goyim Americans.

    Don’t give me new ideas Chucky! I’ll even have a special unit to track just you.

    • Replies: @ChuckOrloski
  413. @Sam Shama

    The Maven Shama declared: “Don’t give me new ideas Chucky! I’ll even have a special unit to track just you.”

    Hi Maven,

    You’re getting warm, eh?

    You take pride in having high IQ, and when pinned to a corner here at U.R., you stop further comment exchanges.

    Again, Maven, I know what you are.

    Just like “intelligent” phonies who raise right hands before Senate InveZtigating committees, swear to tell truth, nuthin’ but truth, and suddenly lose their memory.

    That’s you… Boo!

    • Replies: @Sam Shama
  414. geokat62 says:
    @ChuckOrloski

    … recover the bloviating comment you made to “anonymous” as to how your tribe is monitoring & codifying “anti-Semitic” free speech made by dumb goyim Americans.

    Not sure if this is the one you had in mind, Chuck:

    http://www.unz.com/pgiraldi/americas-jews-are-driving-americas-wars/#comment-2017161

    • Replies: @ChuckOrloski
  415. @geokat62

    geokat kindly went to work, wrote: “Not sure if this is the one you had in mind, Chuck:”

    Hi geo,

    No.

    The smoking anonymous vs. the Maven exchange happened prior to P.G.’s foul firing by T.A.C.

    Am not kidding myself, and Sam The Sham knows exactly what I am exposing.

    Wish somehow “anonymous” surfaces here so I can say, “Book him, geo!”

    Thank you!

  416. Sam Shama says:
    @ChuckOrloski

    ” you stop further comment exchanges….”

    With you? Wouldn’t dream of it. What are we doing here and now? Again, I really really don’t know precisely what you are having conniptions over.

    Poor Geo.

    • Replies: @ChuckOrloski
    , @geokat62
  417. @Sam Shama

    Maven Shama deceptively said: “What are we doing here and now? Again, I really really don’t know precisely what you are having conniptions over.”

    Hi Maven,

    If “conniptions” are what an attempt to expose what you are, I accept the diagnosis.

    But if & when I can resurrect your foolish comment-responses with a very wise & street-smart “Anonymous,” you and others here at The Unz Review will know!

  418. anon[228] • Disclaimer says:

    US is allowing this man to force gambling on US citizen, telling he wished his son fought for Isreal not US

    and bribes GOP, bribe president

    But his tribe want us thing it is the evangelical who is forcing everything- including getting out of Iran deal moving embassy to certain place in Israel.

    His tribe in NYT says same also

    Only outside US sometimes you hear the spade being called a spade :

    ——————–

    WATCH: CBC exposé “The Godfather” on Adelson’s Influence on US & Canadian Policies
    By Andrew Scheer
    If Americans Knew

    Prominent Canadian news broadcaster Wendy Mesley exposes the role of billionaire campaign donor Sheldon Adelson in getting the U.S. embassy moved to Jerusalem, Trump’s abandonment of the Iran nuclear deal, and both U.S. and Canadian politics in general.
    Adelson, the tenth richest man in the world and the GOP’s largest donor, is known to use his money to influence policies on behalf of Israel.
    After trump tore up the Iran agreement, Adelson donated an additional $30 million to the Republican party, possibly the single largest single donation in U.S. history.
    Adelson also influenced former Canadian Prime Minister Stephen Harper, who endorsed Trump’s embassy action and anti-Iran move, as well as Canadian conservative leader Andrew Scheer.
    Mesley interviews New York Times reporter Ken Vogel, who says that Adelson has private meetings at the White House with Trump, Vice President Pence, John Bolton, and others. Israel is at the heart of Adelson’s donations, who has been influenced by his Israeli wife, Miriam.
    Vogel explains that Adelson is “the enforcer” for Jewish American donors who give a lot of money to Republican politicians. People are afraid to cross him.

    https://www.lewrockwell.com/2018/05/no_author/681970-2/

  419. geokat62 says:
    @Sam Shama

    Poor Geo.

    Poor? I’ll have you know that I’m heavily invested in pork bellies. If only I can get two of the three Abrahamic religions to lift their sanctions on cetis porci, I’d be independently wealthy!

    • Replies: @Sam Shama
  420. Sam Shama says:
    @geokat62

    Well, of course you know, I meant ‘poor’ merely in the sense that Lord Chuckston sent you on a wild goose chase.

    I can only speak for my religion, Geo, we carry no compunctions trading said bellies, only eating is disallowed. I’d be happily on board [having eaten it on occasion], to lift sanctions if you can persuade the rabbinate. I am generally against all sanctions. :-)

    • Replies: @geokat62
  421. geokat62 says:
    @Sam Shama

    … if you can persuade the rabbinate

    Sam, if I can persuade you that the special relationship must come to an immediate end, I promise I’ll turn my attention to the rabbinate, next.

  422. Corvinus says:
    @Jesse James

    And you have the audacity to call yourself a Southerner? More like a Southron. Big difference there, Chief.

    There are several southern states, ranging from Texas to Alabama to Kentucky, which are heavily dependent upon military spending for their lifeblood of their communities. So when you make the claim that the Pentagon and Wall Street “hate the South”, you are decidedly in error.

    http://www.ncsl.org/research/military-and-veterans-affairs/military-s-impact-on-state-economies.aspx

    “The economic benefits created by military installations are susceptible to change at both the federal and state levels. Recent events such as the drawdown of troops in Iraq and Afghanistan, federal budget cuts, and potential future rounds of Base Realignment and Closure have left government officials uncertain of the future role and sustainability of military installations. These trends have been a driving force behind many states’ decisions to commission studies that define the military activity and infrastructure that exists in the state and measure the economic impact of military presence. Economic impact studies allow states to better advocate on behalf of their installations and plan for future growth or restructuring.”

    “The United States now has far more in common with the agrarian Confederacy than the industrial Union…”

    No, those are features of America, which includes the South. Try again.

  423. L. Ross says:
    @Backwoods Bob

    For what it is worth. From a dude who has been in since 1985 and still is.

    I do take some issue with the comments from Backwoods Bob regarding the members of the US military. For the Navy and the Air Force, you can’t even qualify if your IQ as measured by the ASVAB isn’t in the top half. The minimum intelligence for the Navy and Air Force is average IQ. Since I got off active duty and joined the reserves, I cannot tell you how many enlisted people I have met with master’s degrees. Virtually every officer above the rank of captain has a master’s degree. I know judges, lawyers, doctors, and successful independent business men and women who all maintain their flight qualifications in the Air Force reserves. The notion that the military is filled with a bunch of losers who can’t get a real job is simply ridiculous.

    Regarding benefits where you can “check out boats and four-wheelers, snowmobiles and etc., special parks and land reservations, scenic cabins they can stay at with trifling fees or free”, this is an exaggeration. If I stay in billeting, I am charged $60/night. Normally for a room around the quality of a Super 8 motel. If you stay at the premier resort in Hawaii, rooms are much more expensive. On base dining is on par with off base pricing. Scenic cabins are nice, and I have used them, but they run between $60/night to stay in a trailer to $120/night for a room which is more like a Motel 6. It is around half the price of staying on the economy, but it is not a trifling expense. Boat rental 20 years ago was $100/4 hours. Other toys will rent at commensurate rates.

    And bear in mind, none of these benefits are designed to produce a profit. These prices are just to maintain and purchase the equipment and rooms. But they are not free.

    Just want to clear up some misconceptions.

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