The U.S. Economy Is Now Dangerously Detached From Reality

[longknife]

by Tyler Durden @ Zero Hedge blog

Submitted by Brandon Smith from Alt-Market

Read full story @ Guest Post: The U.S. Economy Is Now Dangerously Detached From Reality | Zero Hedge

And, Argentina, showing the way, has frozen retail prices and ordered various outlets to stop advertizing on radio and tv. More @ Days After Freezing Prices, Argentina Bans All Advertising | Zero Hedge When is that going to happen here in the USA?

 

[EdwardBaiamonte]

When is that[extreme liberalism] going to happen here in the USA?

probably never because no liberals are willing to step forward in defense of liberalism here. This means that in the end the tide is against them.

 

[boedicca]

The government has three options to deal with the debt:

1. Deflate the currency
2. Default (not the bogus default cried up during the Debt Ceiling fracas) - but real default where bonds are not honored
3. Seize wealth of private citizens

I'm going with #3 as the preferred alternative. We're already in a currency war, so 1 is in process. The Feds are not going to default on the Chinese...so nationalizing 401Ks and IRAs in the name of Retirement Security is the best bet. It will fail, ultimately, but the capital will enable the Feds to kick the can down the road a bit more while funneling all that funding to their cronies (and themselves).

 

[EdwardBaiamonte]

3. Seize wealth of private citizens

yes everyone must pay there fair share!! The top 1% only pay 40% of Federal Taxes while the bottom 50% pay 5%.

 

[Rozman]

The government has three options to deal with the debt:

1. Deflate the currency
2. Default (not the bogus default cried up during the Debt Ceiling fracas) - but real default where bonds are not honored
3. Seize wealth of private citizens

I'm going with #3 as the preferred alternative. We're already in a currency war, so 1 is in process. The Feds are not going to default on the Chinese...so nationalizing 401Ks and IRAs in the name of Retirement Security is the best bet. It will fail, ultimately, but the capital will enable the Feds to kick the can down the road a bit more while funneling all that funding to their cronies (and themselves).

No doubt in my mind it will be #3...
I am thinking Obama toward the end of his presidency will put it out there.
He will blame Bush...The problem was really really really worse then anyone thought
the Jizzy doodle wacker republicans made it worse and in the end he will push for
nationalizing our retirement accounts to save the country.

The selling point will be...

If we are really good Americans we will roll over and save this country and government will piss all that money away as they always do.

 

[Rozman]

3. Seize wealth of private citizens

yes everyone must pay there fair share!! The top 1% only pay 40% of Federal Taxes while the bottom 50% pay 5%.

The top 1% will need to kick in a little more.
I'm sure the Libs will feel that raising it to 90%
will be an excellent place to start just to get the ball rolling
and then it can be adjusted a tad higher right after that.

 

[Rozman]

I have a feeling the government will start out easy with the IRA and 401Kplan confiscation.
We will be able to keep putting away money as in the past but let's say if someone puts away
8% of their paycheck into a 401 Kplan to start off nice and easy...2% of that 8% will be taxed when you file your taxes.

The whole 8% goes into your account but right off the top you get hit on 2%....

And Joe Biden will do press conferences telling us it's time Americans get a little "skin in the game".

 

[Rozman]

The Libs will just eat that shit right up.

 

[EdwardBaiamonte]

The top 1% will need to kick in a little more.

yes the top 1% hold most of their assets in small businesses which shows where their wealth goes!! What could be dumber than taxing them so much and thus destroying investment capital in a recession.

IF banks wont lend money because there is no profit a 0% interest why not just reduce taxes to accomplish the same thing!!

 

[ShellG]

Why soak the rich? Aren't they the reason why the DOW went up above 10,000 so gosh darn fast after the economy tanked? If so, soaking them would be counter-intuitive. No, I'm sure not rich. Quite the opposite.

 

[KissMy]

The government has three options to deal with the debt:

1. Deflate the currency
2. Default (not the bogus default cried up during the Debt Ceiling fracas) - but real default where bonds are not honored
3. Seize wealth of private citizens

I'm going with #3 as the preferred alternative. We're already in a currency war, so 1 is in process. The Feds are not going to default on the Chinese...so nationalizing 401Ks and IRAs in the name of Retirement Security is the best bet. It will fail, ultimately, but the capital will enable the Feds to kick the can down the road a bit more while funneling all that funding to their cronies (and themselves).

There is little choice after that socialist bailout of the rich banks in 2008 gave all this nations wealth to the top 1%. These assholes caused the problem & turned around & took the wealth of the country in return. There should have been a collapse of all the investment banks. The commercial banks holding the average Joe's money was not going under & was guaranteed to $100k per account. The communist seized these accounts & merged them with the corrupt insolvent investment banks & got $2.5 trillion from the fed that they will never pay back.

All of the 1% would be broke or knocked down to the $100k range had it not been for that bailout. They made bad investments & hedged them with insurance from an insolvent company. The free market would have leveled them. The stolen wealth must be redistributed back to the people to repair this economy.

 

[KissMy]

3. Seize wealth of private citizens

yes everyone must pay there fair share!! The top 1% only pay 40% of Federal Taxes while the bottom 50% pay 5%.

The top 1% will need to kick in a little more.
I'm sure the Libs will feel that raising it to 90%
will be an excellent place to start just to get the ball rolling
and then it can be adjusted a tad higher right after that.

The middle class are being forced to subsidize the top 1% through the federal tax code. Retribution is at hand!

 

[EdwardBaiamonte]

yes everyone must pay there fair share!! The top 1% only pay 40% of Federal Taxes while the bottom 50% pay 5%.

The top 1% will need to kick in a little more.
I'm sure the Libs will feel that raising it to 90%
will be an excellent place to start just to get the ball rolling
and then it can be adjusted a tad higher right after that.

The middle class are being forced to subsidize the top 1% through the federal tax code. Retribution is at hand!

how is that possible when the top 1% pay all the taxes????????????????

 

[boedicca]

The government has three options to deal with the debt:

1. Deflate the currency
2. Default (not the bogus default cried up during the Debt Ceiling fracas) - but real default where bonds are not honored
3. Seize wealth of private citizens

I'm going with #3 as the preferred alternative. We're already in a currency war, so 1 is in process. The Feds are not going to default on the Chinese...so nationalizing 401Ks and IRAs in the name of Retirement Security is the best bet. It will fail, ultimately, but the capital will enable the Feds to kick the can down the road a bit more while funneling all that funding to their cronies (and themselves).

There is little choice after that socialist bailout of the rich banks in 2008 gave all this nations wealth to the top 1%. These assholes caused the problem & turned around & took the wealth of the country in return. There should have been a collapse of all the investment banks. The commercial banks holding the average Joe's money was not going under & was guaranteed to $100k per account. The communist seized these accounts & merged them with the corrupt insolvent investment banks & got $2.5 trillion from the fed that they will never pay back.

All of the 1% would be broke or knocked down to the $100k range had it not been for that bailout. They made bad investments & hedged them with insurance from an insolvent company. The free market would have leveled them. The stolen wealth must be redistributed back to the people to repair this economy.

Blah blah blah. Blaming the 1% is blaming middle managers married to nurses. The mega mega wealthy are the top .01-.001%.

And you are ignorant as to the role that government played in staging this mess.

 

[Morganist]

The economy is based on a false sense of demand created by debt. This is not sustainable.

 

[EdwardBaiamonte]

The free market would have leveled them. The stolen wealth must be redistributed back to the people to repair this economy.

The free market would have leveled them. The stolen wealth must be redistributed back to the people to repair this economy.

too stupid. The free market did level many of the big banks!! THe others in effect got a loan that was paid back. This prevented a depression and thus bailed out everyone.

Further, libturd fools love bailouts, just the kind that are personal, never paid back and keep growing year after year until much of the nation is crippled by them. So how could a sane liberal object to a few bank loans that were paid back????

See why we are 100% positive a liberal will be slow, so very very slow!!

 

[KissMy]

The free market would have leveled them. The stolen wealth must be redistributed back to the people to repair this economy.

The free market would have leveled them. The stolen wealth must be redistributed back to the people to repair this economy.

too stupid. The free market did level many of the big banks!! THe others in effect got a loan that was paid back. This prevented a depression and thus bailed out everyone.

Further, libturd fools love bailouts, just the kind that are personal, never paid back and keep growing year after year until much of the nation is crippled by them. So how could a sane liberal object to a few bank loans that were paid back????

See why we are 100% positive a liberal will be slow, so very very slow!!

The socialist bailout of the rich banks was never paid back. The Fed & treasury bought $2.5 trillion of their bad investments at full price. Then bankers took that money, bought up the nations wealth at firesale prices & claimed they paid back some of TARP. The banks bad debt is still on the Feds balance sheet/off balance sheet. It also prevented AIG from having to cover all those bad loans. Bailing out investment banks only helped the top 1%. It did nothing but prevent prices we pay from falling as they should have after the massive inflation they caused during the expanding bubble. The bank bailout caused inflation & made it permanently high on the middle class & poor in a slow economy.

 

[EdwardBaiamonte]

The Fed & treasury bought $2.5 trillion of their bad investments at full price.

too stupid!! The Fed bought at rock bottom prices at depth of recession, now those securities are worth almost double. This is why the Fed is making so much money that it is returning to Treasury!! Banks would have been far better off keeping securities!!!

Program was a huge huge success in saving world from depression unlike personal bailouts that are never paid back and eating,
the country alive, and growing every minute of every day!!!!

A liberal will be far to stupid to see his hypocrisy, let alone the destruction caused by trickle down welfare!!

 

[KissMy]

The Fed & treasury bought $2.5 trillion of their bad investments at full price.

too stupid!! The Fed bought at rock bottom prices at depth of recession, now those securities are worth almost double. This is why the Fed is making so much money that it is returning to Treasury!! Banks would have been far better off keeping securities!!!

Program was a huge huge success in saving world from depression unlike personal bailouts that are never paid back and eating,
the country alive, and growing every minute of every day!!!!

A liberal will be far to stupid to see his hypocrisy, let alone the destruction caused by trickle down welfare!!

The government lost money on those bad loans. I bought 4 houses from HUD/Fannie/Freddie for 18% of what they paid the banks for them. The government took an 82% write-down on bad loans made by investment bankers who got paid huge for making them.

 

[EdwardBaiamonte]

The government lost money on those bad loans. I bought 4 houses from HUD/Fannie/Freddie for 18% of what they paid the banks for them. The government took an 82% write-down on bad loans made by investment bankers who got paid huge for making them.

Fed Profit of $88.9 Billion Sent to Treasury in 2012 - The New York ...
Jan 10, 2013 ... The Fed buys Treasuries and mortgage bonds to make them less profitable,
which makes borrowing cheaper and encourages investors to take ...
www.nytimes.com/2013/01/11/business/economy/feds-2012-profit-was-88-9-billion.html


if you are not smart enough to be here why are you here??
Further why on earth would a sane person oppose a profitable bailout that saved the word from depression( even Krugman supported it) and love personal bailouts that are never paid back, grow every year, and cripple people??

Do you have any idea how stupid and hypocritical you are??? Do you worry whether the government loses money on trickle down welfare bailouts?????????????