After 6 Years of Unprecedented Central Planning, the Economy Is More Fragile Than Ever
We all know that the central banks have kept interests rates low and printed us into a horrible situation. This post take a look at where central planning has left our economy and supports the finds with charts illustrating ineffective and unsustainable trends. Check out some of the charts below for a preview of what is discussed.
DB, Confucious Say’s Janet Yellen is flying her plane upside down! HA, HA!
So where are all these houses that the Fed bought the mortgages to?
everywhere…………….in the usa………pick a state……..
they are the mortgages that were bundled, ……..and the one’s that they could not find the clear title to………the liar loans, jumbo loans,,,,,,,,starting in 2001,2,3 to 08,
FANNIE FREDDIE FORECLOSURES……..Barry frank criss dodd, scam job……..
The stock was a scam………$80 to O , bailed out by the tax payer…….it is still not over yet……….
the excess inventory is still out………….some foreclosures are still out there shadow inventory………look around you neighborhood………I bet you could still find the short sales and foreclosed properties…………..
your neighborhood…….not” you”
The next in line……..will be the refi….loans …….that are $400,000 to$ 800,000 mortgages………….When rates go up to normal 6%……..there will be no one to qualify for those house values……..the numbers do not work……..then you might see what RICK …CALLS ………DEFLATION………….
Tennessee William’s character Tom in “The Glass Menagerie” smoked a pack of cigarettes a day at .15 per pack.
Today he would have to pay $6 plus/day.
I will comment that Jim Puplava has made comments over the last few years that every time the price of oil has risen by X% it has put the US into a recession. The X% has changed a few times, but his point is still valid.
US production is heavily dependent on the price of energy, and if it rises too much a recession follows.
I was hoping that a solution to the Iraq War, plus fracking and relative abundance of North American oil would keep WTI from rising too much. That is not going to be the case.
Incompetent bungling of Iraq by the President, Support for environmentalists in denying the Keystone XL pipeline, and failure to expand federal lands for oil extraction will cause WTI to rise more than necessary and, indeed, sufficiently to cause a deep and long US recession. It may be that the President has seen the writing on the wall, knows that the Senate will be lost this Fall, and has now determined that his best political course of action is to further destroy the American economy so much that no Republican Administration could reap any political rewards for extracting the US from its economy’s mess.
(It could also be the President hates the US so much that he simply wants to destroy it.)
The funny things is: I believe the Republican establishment is so entrenched in cronyism, that they could not even manage to turn a slightly depressed economy into a booming one.
Government is not the solution. It is the problem.
Impeach most of the Administration and throw all the Congress-critters out.
Then close down whole departments of the Government; e.g. Education, E.P.A. etc., because they are all now stacked with permanent employees determined to hold to a liberal socialist agenda.
I hope a Con-con gets held in my lifetime, but I’m not holding my breath.
I’m just going to take away as many of my toys as I can and watch from afar.
No-no Con-con. Very bad. Constitution works if we work it. But we won’t. People can’t control themselves, that is, govern themselves according to the Ten Commandments. Constitution was written by and for a free people – free from the bondage of sin. Repent and believe the Good News of Jesus Christ. He is our only hope!
Do you understand the mechanics of a Con-con?
Most of the radio show hosts do not.
SLV inventory was depleted by another 1.15 million ozs today.
Interesting story out of China:
http://www.reuters.com/article/2014/06/19/gold-china-idUSL2N0P01A820140619
I read that as China is still wanting to buy gold and they don’t want a price rise.
That was also confirmed by price-volume action in Hong Kong.
Bloomberg News
Posted: Friday , 20 Jun 2014
China, the world’s biggest gold user, will start international gold trading in Shanghai’s free- trade zone in the final quarter of this year, according to a city government official.
“We will aim to commence trading in the fourth quarter,” Zheng Yang, head of Shanghai’s financial services office, said today in a conference in the city. The nation’s central bank earlier this week approved the trading platform to be included in the zone’s banking system.
China, also the world’s largest bullion producer, is seeking to step up its presence in the global gold market at a time when the industry is discussing changes to the century-old fixing benchmark in London used to trade and value the metal. The country overtook India as the largest user last year as the biggest price drop in more than three decades spurred purchases, the World Gold Council said in February.
What weapons of mass destruction?
Sometimes volume tells a real story:
The most-traded bullion option on the Comex in New York yesterday was a call giving owners the right to buy futures for August delivery at $1,350, with an estimated total of 3,419 lots changing hands, according to the latest data from the bourse. That compares with an average volume of 205 in the past year. Each contract is for 100 ounces.
As we get closer to the expiry date, IT WILL BE OBVIOUS whether gold closes above or below $1350, depending on which side the dealers are. The price WILL be manipulated accordingly.
The People Vs. Barack Obama by Ben Shapiro.
customer reviews
New York Times bestselling author Ben Shapiro presents a comprehensive case against Barack Obama’s abuses of power during his time in office.
From the DOJ to the NSA, from the EPA to the Department of Health and Human Services, Barack Obama’s administration has become a labyrinth of corruption and overreach touching every aspect of Americans’ lives. The People vs. Barack Obama strips away the soft media picture of the Obama administration to reveal a regime motivated by pure, unbridled power and details how each scandal has led to dozens of instances of as-yet-unprosecuted counts of espionage, involuntary manslaughter, violation of internal revenue laws, bribery, and obstruction of justice.
The story of the Obama administration is a story of abuse, corruption, and venality on the broadest scale ever to spring from the office of the presidency. President Obama may be the culmination of a century of government growth—but more important, he is the apotheosis of the imperial presidency. Obama chooses when to enforce immigration laws, delays his own Obamacare proposals when it is politically convenient to do so, micromanages the economy, attacks the Supreme Court, Congress, and the sovereign states. And he proclaims that he alone is the voice of the people while encroaching on their rights. In The People vs. Barack Obama, Ben Shapiro brings Obama into the people’s court and addresses each of his abuses of power.
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OFF TOPIC (but it affects your tax dollars)
WASHINGTON (AP) — A year after the Supreme Court struck down a law barring federal recognition of gay marriages, the Obama administration granted an array of new benefits Friday to same-sex couples, including those who live in states where gay marriage is against the law.
The new measures range from Social Security and veterans benefits to work leave for caring for sick spouses. They are part of President Barack Obama’s efforts to expand whatever protections he can offer to gays and lesbians even though more than half of the states don’t recognize gay marriage. That effort has been confounded by laws that say some benefits should be conferred only to couples whose marriages are recognized by the states where they live, rather than the states where they were married.
Aiming to circumvent that issue, the Veterans Affairs Department will start letting gay people who tell the government they are married to a veteran to be buried alongside them in a national cemetery, drawing on the VA’s authority to waive the usual marriage requirement.
In a similar move, the Social Security Administration will start processing some survivor and death benefits for those in same-sex relationships who live in states that don’t recognize gay marriage. Nineteen states plus the District of Columbia currently recognize gay marriage, although court challenges to gay marriage bans are pending in many states.
For Tim Sagen of Fort Collins, Colorado, the implications could be profound. A retired electrical engineer, Sagen receives higher Social Security payments than his 79-year-old partner, Ken Hoole. The two will celebrate their 47th anniversary in August but until now would have been prevented from accessing each other’s benefits.
Meanwhile, the Labor Department said it would start drafting rules making clear that the Family and Medical Leave Act applies to same-sex couples, ensuring that gay and lesbian workers can take unpaid leave to care for a sick spouse.
Attorney General Eric Holder, in a memo to Obama, said the Justice Department has completed its government-wide push to carry out the high court’s 2013 ruling in United States v. Windsor that struck down part of the Defense of Marriage Act, enabling the federal government to start granting benefits to married same-sex couples. Holder said the impact of that court decision “cannot be overstated.”
At the same time, Holder urged Congress to adopt legislation that Democratic lawmakers have proposed that let the VA and Social Security extend benefits to married couples living in non-gay marriage states. Obama was lending his support to those efforts in Congress, the White House said.
“The fact that they’re endorsing our legislation will give it a boost,” said Rep. Jerrold Nadler, D-N.Y., who wrote the bill altering the state-of-residence requirement for VA benefits.
But opponents of gay marriage argued that the Obama administration is misinterpreting the court’s decision by using state of residence as the standard for determining which marriages Washington will recognize.
“This clearly goes beyond the executive branch’s authority,” said Peter Sprigg of Family Research Council. “The federal government should not put the thumb on the scale in terms of how states define marriage.”
The administrative steps mark the latest attempt by Obama to promote social acceptance for gays and lesbians and to ensure they and their relationships enjoy equal treatment under the law. In addition to successfully pushing to repeal the ban on gays serving openly in the military, the Obama administration stopped defending the Defense of Marriage Act years before the Supreme Court took it up.
Could it be that central bank intervention is not all cracked up to it is said to be?
As we find the resistance of Al’s $1320 bottom.