Trump Presides Over Bankruptcy of US

[the other mike]

$850.

This chart says closer to $2000 in 1979, but it seems like I read it was more.

Oh - it says 'inflation-adjusted' - so never mind.
I was wrong about that.

 

[the other mike]

There isn't $21 trillion missing.

Give or take a few thousand.

How $21 Trillion in U.S. Tax Money Disappeared. "Full Scope Audit" of the Pentagon - Global Research

Professor Finds $21 Trillion In Unauthorized Government Spending

Search for Missing $21 Trillion Comes Up Empty as Pentagon Fails First Audit in 71-Year History

 

[Toddsterpatriot]

$850.

This chart says closer to $2000 in 1979, but it seems like I read it was more.

Why would you post an inflation adjusted chart?

I realize how silly you feel, after thinking $300 for gold while Bush was President to $1330 now, meant hyperinflation was happening.
Or that your inflation adjusted chart showing gold one-third lower in 2009 compared to 1980, helps your claims.

 

[Toddsterpatriot]

There isn't $21 trillion missing.

Give or take a few thousand.

How $21 Trillion in U.S. Tax Money Disappeared. "Full Scope Audit" of the Pentagon - Global Research

Professor Finds $21 Trillion In Unauthorized Government Spending

Search for Missing $21 Trillion Comes Up Empty as Pentagon Fails First Audit in 71-Year History

Thanks for the links from the guys who don't understand accounting.
Do you have any that actually help prove your claim?

 

[the other mike]

Thanks for the links from the guys who don't understand accounting.
Do you have any that actually help prove your claim?

My 'uncles' talk about it being possibly more than $21 trillion in the OP video.
@ around 43:00 to 45:00


.

 

[the other mike]

Why would you post an inflation adjusted chart?

I realize how silly you feel, after thinking $300 for gold while Bush was President to $1330 now, meant hyperinflation was happening.

I never said that.
In fact from $350 to $1750 during Bush's presidency did happen and I believe it was price -manipulation and speculation - oil went from $20 a barrel to $150 a barrel during the same time-frame. ( coincidentally ? )

 

[Toddsterpatriot]

Thanks for the links from the guys who don't understand accounting.
Do you have any that actually help prove your claim?

My 'uncles' talk about it being possibly more than $21 trillion in the OP video.
@ around 43:00 to 45:00


.

Repeating stupid math errors doesn't make them correct.

 

[Toddsterpatriot]

Why would you post an inflation adjusted chart?

I realize how silly you feel, after thinking $300 for gold while Bush was President to $1330 now, meant hyperinflation was happening.

I never said that.
In fact from $350 to $1750 during Bush's presidency did happen and I believe it was price -manipulation and speculation - oil went from $20 a barrel to $150 a barrel during the same time-frame. ( coincidentally ? )

I never said that.

You said this.

The bankrupt Fed has over-leveraged the dollar by 100 to 1 ....if hyperinflation kicks in, these guys are saying gold will land somewhere above $120,000 an ounce ( in petro dollars ).

Any luck with a translation?

In fact from $350 to $1750 during Bush's presidency did happen

So what?

 

[the other mike]

So what?

That was comparing US currency , with a $22 trillion debt http://www.usdebtclock.org/ with over $70 trillion in leveraged debt ( actual debt) in a time when we are running an annual $1trillion deficit ....China , Russia and other countries - including Saudi Arabia - are in the process of dumping the US dollar as the world's currency which will soon be the yuan. (unless the bankers decide war with them will be more appropriate )

 

[Toddsterpatriot]

So what?

That was comparing US currency , with a $22 trillion debt http://www.usdebtclock.org/ with over $70 trillion in leveraged debt ( actual debt) in a time when we are running an annual $1trillion deficit ....China , Russia and other countries - including Saudi Arabia - are in the process of dumping the US dollar as the world's currency which will soon be the yuan. (unless the bankers decide war with them will be more appropriate )

over $70 trillion in leveraged debt ( actual debt)

Who has $70 trillion actual debt?

And what does that have to do with gold going from $850, under Carter, to $300 under Bush?

China , Russia and other countries - including Saudi Arabia - are in the process of dumping the US dollar

Based on some of your silly sources?

as the world's currency which will soon be the yuan.

Oh, please, even you're not dumb enough to put your money into yuan.

 

[the other mike]

Gaddafi might have been.

 

[Grumblenuts]

We survive international threats, Sparky. We're America, and we have each other.

And i would agree w/you Beau, save for the fact we are an oligarhy

'We the People' come 2nd to 'They the Elites'
~S~

Is tribalism preferable, then? If so, we should be speaking numerous tribal languages, and not a common tongue derived from our oppressors in the EU, where many Americans came from. Unfortunately, they wiped out and desecrated almost every tribe on the North American continent in order to institute a Republic of free men 250 years after arriving here on the Mayflower in the early digit 1600s. White settlers decimated their native benefactors who ceded lands to them when Europe promised their unwanted people shipped here with the false premise of opportunity, when a huge series of genocides would face them if they wanted a safe environment in the New World. And genocide they did to establish themselves here. Intermarriage occurred, which was the only way the DNA of some tribes could be preserved. Whites turned their back on "half breeds" whom they regarded as half-human beings, disgraced by being the love children of parents who fell in love with each other over the protests of both sets of parents.

Yeah, you could call us an oligarchy, but it is supposed to represent people from every kindred, and every tribe (except native Americans living on reservations, so conveniently ousting them from their native lands into lands so barren, their survival is nothing short of miraculous were it not for the pittance they receive from the Indian bureau of affairs.

"They" is us, sparky, at least before they got to DC as representatives. There, their skills of diplomacy are challenged by the 360-degree assaults being made on the treasury accumulated beginning in 1914, when it was decided by Congress to ignore the founding fathers' wisdom of never raising taxes against the common man. The common man got rich and too big for his britches, so the Congress decided to set aside the honor of serving the masses in favor of serving international causes such as WWI, and bailing out the lesser mighty of the more mighty in continental and expanded Europe to include those to the north, south, east, and west of the Baltic Sea. Europe liked it because it was like getting something for nothing. So here we are, tax poor like them, with ravenous wolves like Alexandria Ocasio-Cortez screaming at the top of her lungs for even more money power so she can be rich like savvy dowager Nancy Pelosi, her idol and former benefactor.

Right now, all of us are drawn into this debate of who's boss? The Founders or the politically ambitious have-nots of the twenty-first century.

And throwing the baby out with the bathwater on every issue has our sensibilities overborne. And we have polarized to such dissention that we are making ourselves available to be confused, which is the perfect ground for interlopers, seeing the flaw, to swoop down on us and insert their dogma on us. That will take more lives than Hitler, Tse-Tung, and Stalin put together

Wow, you can sure write up a storm! Unfortunately, you immediately veered way off the rails as appears to be your usual. The logical alternative to oligarchy is certainly not tribalism You reveal an incredibly poor understanding of oligarchy. But why make sense? Who cares, right? It's just politics. Any excuse to rant about stuff knowingly will apparently do.

Well, for the record:

Definition of oligarchy
1: government by the few
The corporation is ruled by oligarchy.
2: a government in which a small group exercises control especially for corrupt and selfish purposes

Quite vague about who these few might be, thus often the wrong word to begin with. People often use oligarchy when they really mean plutocracy: a country or society governed by the wealthy. That is what historically triggers revolt from the common people or oppressed citizenry for sound reason. Because they, these plutocrats, own and thus control practically everything of real or lasting value, not simply because they are bosses or in business. No revolt was ever sparked by some little Mom & Pop enterprise. Trump getting away with not paying his contractors is an excellent example of the actual, inherent problem. Get rich enough and the law only serves you.

There's no "debate of who's boss". Certainly not "The" long dead "Founders". Try the billionaire owners vs the rest of us. Only, many seem to like being owned and controlled by the likes of Pelosi and Trump. Indeed, they seem to insist upon it. Including you. Party affiliation uber alles!

 

[Muhammed]

No..........our economy was doing fine, till Democrats started raising interest rates at the Fed.
The reason wages are low is because wherever there are illegals, wages are low. This was the case in CA.
And why is everything so expensive?
Because Obama spent years writing regulation after regulation designed to raise the costs of everything.

Actually, Trump got rid of Janet Yellen and chose Powell to be Chairman of the fed because he recognized that the years of near 0% interest rates and quantitative easing put horrible inflationary pressure on the economy, thus keeping real wages flat. Hell, the Fed was even giving money to the banking cartel and letting them speculate on the markets with it and even buy back their own stock to raise the price in some cases. This created an asset bubble in the stock markets. And it's still there.

Powell was hired by Trump because interest rates needed to rise gradually because the Fed's interest rates were at near zero. They were practically giving away money. (How much did they give you? Zilch. It went to the banking cartel) Hell, The EU central bank was even giving money away at negative interest rates. That is essentially giving away money to investment banks and paying them interest to take the free money.

Via carefully planned corporate tax relief and raising the Fed's interest rate gradually in small increments, Trump has managed to prevent the stock market bubble from bursting, thus dodging that speeding bullet.

However, Trump hasn't got us out of the woods yet. The toxic subprime mortgage crisis was bad, and caused economic havoc, however, during the Obama years investment banks were loaning out all that free money to corporations. And now the banks have a shitload of bad corporate debt on the books. And when that other shoe full of toxic assets drops, it could be much worse than the subprime mortgage debacle.

If Trump gets our economy out of this precarious situation without an even worse round two of the great recession devastating the economy, he is a fucking economic genius.

In the meantime, I'm keeping my money away from the stock market.

 

[80zephyr]

Japan is over leveraged, and has been for decades. If there is to be a bankruptcy, it should have happened to them long ago. In truth, the financial markets are afraid to "pull the trigger" and tell the world the truth. Of course, Japan would collapse, as would the rest of the world, into a depression.
So, who is gonna call in the markers on the US debt? Nobody. I am sure that what is happening now will not end well, but I don't believe it will be happening soon.

Mark

 

[80zephyr]

You try to be optimistic but it's looking like there's a bad moon on the rise.

Financial writer Bill Holter and renowned gold and financial expert Jim Sinclair say the financial crash is here now. Holter says, “I think President Trump is going to preside over a bankruptcy. He’s gone through bankruptcies with his own companies and understands the process. That’s what this is. It’s the bankruptcy of the corporation of the United States.”

In closing, Sinclair says, “The dollar standard is over. We were on a gold standard, and then poof, Nixon, and out. What has happened to the petro dollar? Poof, it’s out in comparison to what it was. What system is next? The marbles standard? Gold is going back . . . to a store house of value.”

We’re Flash Crashing to Hell – Jim Sinclair & Bill Holter

Our economy is suffering because working class Americans aren't making enough money.

What standard are you using here? When my parents married, they basically lived in a chicken coop. When I went to school for architectural design in the 1970's, the average home we were drawing was 1200 square feet, now the average is twice that. Most families have two cars, and every modern convenience.

Maybe people don't know how to live?

Mark

 

[the other mike]

What standard are you using here? When my parents married, they basically lived in a chicken coop. When I went to school for architectural design in the 1970's, the average home we were drawing was 1200 square feet, now the average is twice that. Most families have two cars, and every modern convenience.

Maybe people don't know how to live?

Mark

In a word, debt. Americans became addicted to it .

 

[the other mike]

 

[80zephyr]

What standard are you using here? When my parents married, they basically lived in a chicken coop. When I went to school for architectural design in the 1970's, the average home we were drawing was 1200 square feet, now the average is twice that. Most families have two cars, and every modern convenience.

Maybe people don't know how to live?

Mark

In a word, debt. Americans became addicted to it .

Correct. In reality, most Americans make enough money to live a pretty good life. Their spending habits are their undoing.

Mark

 

[Toddsterpatriot]

No..........our economy was doing fine, till Democrats started raising interest rates at the Fed.
The reason wages are low is because wherever there are illegals, wages are low. This was the case in CA.
And why is everything so expensive?
Because Obama spent years writing regulation after regulation designed to raise the costs of everything.

Actually, Trump got rid of Janet Yellen and chose Powell to be Chairman of the fed because he recognized that the years of near 0% interest rates and quantitative easing put horrible inflationary pressure on the economy, thus keeping real wages flat. Hell, the Fed was even giving money to the banking cartel and letting them speculate on the markets with it and even buy back their own stock to raise the price in some cases. This created an asset bubble in the stock markets. And it's still there.

Powell was hired by Trump because interest rates needed to rise gradually because the Fed's interest rates were at near zero. They were practically giving away money. (How much did they give you? Zilch. It went to the banking cartel) Hell, The EU central bank was even giving money away at negative interest rates. That is essentially giving away money to investment banks and paying them interest to take the free money.

Via carefully planned corporate tax relief and raising the Fed's interest rate gradually in small increments, Trump has managed to prevent the stock market bubble from bursting, thus dodging that speeding bullet.

However, Trump hasn't got us out of the woods yet. The toxic subprime mortgage crisis was bad, and caused economic havoc, however, during the Obama years investment banks were loaning out all that free money to corporations. And now the banks have a shitload of bad corporate debt on the books. And when that other shoe full of toxic assets drops, it could be much worse than the subprime mortgage debacle.

If Trump gets our economy out of this precarious situation without an even worse round two of the great recession devastating the economy, he is a fucking economic genius.

In the meantime, I'm keeping my money away from the stock market.

Hell, the Fed was even giving money to the banking cartel and letting them speculate on the markets with it and even buy back their own stock to raise the price in some cases.

The Fed didn't give money to the banks.
For the past 9 years they weren't even lending money to the banks, the banks were lending money to the Fed.

The EU central bank was even giving money away at negative interest rates.

You've got things backwards. The central banks don't loan money at negative rates.
They charge their member banks interest on the bank deposits of reserves at the Central Bank.

Currently, in the US, if a bank has a deposit of reserves at the Fed, the Fed pays that bank 2.4%.

For the second time this year, the Fed raised the rate it pays on bank reserves by 20 basis points, rather than the 25 basis point hike it approved for the federal funds rate.

The new reserve rate, known as the interest on excess reserves, or IOER, is 2.4 percent. The funds rate's new target range is 2.25 percent to 2.5 percent.

Fed makes key adjustment in effort to keep rates in line

If the Fed charged for that deposit, that would be a negative interest rate policy.
The opposite of a give-away to the banks.

And now the banks have a shitload of bad corporate debt on the books.

Default rates are at really low levels. I think you're confused

 

[P F Tinmore]

How Wall Street Gave Us Trump w/Michael Hudson