\"The Big Short\" . . . .

[errolanderson]

Atlanta Fed release after the close yesterday . . .

U.S. GDP now at 0.6%, not 2.0% as reportedly mainline consensus.

https://www.frbatlanta.org/cqer/research/gdpnow.aspx?panel=1

In reality, the U.S. has already entered a recession. Catch-up government data ahead.

[Hamloc]

I heard some interesting numbers this morning. Under Obama the US debt rose 77% while GDP only rose 13%. The US created 14 million jobs at a cost of 600000 of government debt per job. Our present economic downturn has been caused by a large increase of sovereign debt world wide though governments will try to tell you otherwise.

[farmaholic]

We are disposable pawns on the financial chess board. ....what a game. ....what a con job. ...what crookery. .....what deception. ....what greed.

Throw the ****ers out of the temple!

Society needs a "people's bank" not a corrupt privately owned scam riddled banking system.
The current system allows them to walk through a torrential rain storm without getting hit by a single drop of rain....bailouts???? A just reward.

[errolanderson]

Obama entry . . . U.S. debt $9 trillion
Obama exit . . . U.S. debt $20 trillion

The next UI.S. recession may be one-for-the-ages.

[biglentil]

US reached 1 trillion in debt on Oct 22,1981. It took 205 years for the nation to achieve that. The debt is impossible to pay back because every new dollar the fed creates is another dollar of debt with interest owing.

[TOM4CWB]

biglentil,

QE $ are created out of thin air... to backfill currency destruction. I suggest that the US Fed... has no intention of paying themselves back... or paying interest... as the QE$ was created at 0 percent interest. Japan, US, EU, and China all did QE currency...it is backed by the nations who created the QE$... to keep the global economy and banks floating.

[farmaholic]

[URL="http://money.cnn.com/news/specials/storysupplement/bankbailout/"]http://money.cnn.com/news/specials/storysupplement/bankbailout/[/URL]


Who owns the banks?

Whose policy was it to loan subprime?

Whose policy was it to use such a high fractional reserve ratio?

Whose money bailed them out?

[errolanderson]

Who went to jail?

[farmaholic]

Wasn't it only one man... Kareem Serageldin? Two and a half years.

I had to google it because I would have never remembered the name otherwise.....

[cottonpicken]

If people stop receiving interest payments on the bonds that's default and the currency gets smoked.

If teachers policemen and nurses stop getting paid it will be chaos.

If they jack taxes they hammer GDP

The situation is so bad they MONETIZED the debt!

We are not getting out of this. The thought some political leader has some magical solution is laughable at best.

The path of least resistance is control print

[farmaholic]

If there is no accountability(private or government) then this shit is beyond me.

So then in the end it just doesn't matter...
If I "managed" my business like the US banks their's or the government manages the country, would I still be in business? How can it be the Piper never gets paid or at least not by the original terms? What will it look like after the day of reckoning? But somehow I don't think there will be one.

[errolanderson]

But what will stop this from happening again?

It starts at the top; The U.S. Federal Reserve