federal deficit hits five year low

[Truthmatters]

US household wealth regains pre-recession peak

I suspect that the world's economy is poised for a great collapse that could literally happen at any time, now.

Of course nobody can know when or how because why?

Because NOBODY can tell us the REAL condition of the world's leading banks.

DERIVATIVES that are in those BANKS are toxic, and nobody (not even the banks that own them) really can tell us how toxic they are.

These dubious debts are as fake as our money, folks.

give me some reading to do to see the threats your talking about.

You are a trustable poster and I trust you to fill us in.

 

[CrusaderFrank]

It blows me away when people post all of these rosey reports about how great things are economically.
Of course these folks do not take one second to consider context, or what erroneous data is in the particular report they link to.
Bottom line - none of these propaganda reports pass the basic smell test. Things still suck. Every economic indicator still sucks with exception of the invincible stock market that everyone knows is ludicrously over sold and over-valued.
Unemployment - high
Under-employment - all time high.
Welfare recipients - high
Housing Starts - sure a tad better, but still lowest since 1982.
US Auto Sales - yes better, but still 3 million units below pre-recession.

And on and on and on.

Krugman say we need another $80Trillion in deficits to make it right

 

[Truthmatters]

can anyone fill me in to the info about the still exsisting bad Derivatives in the banks

 

[CrusaderFrank]

can anyone fill me in to the info about the still exsisting bad Derivatives in the banks

Ask Liz Warren. She was wondering why banks don't trade at book value. I'd love to hear the conversation the two of you would have

 

[editec]

Here's a quick list:

Popular Great Recession Books


I suggest you start with this one:

Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America (Hardcover)
by Matt Taibbi

Matt Taibbi is possible the smartest guy in the room. What he does is show us WHY our risk assessment (of debt) is basically worthless, I alos suggest his book BLACK SWAN to help you understand better the dubious MATH behjind our current banking system.

READ TAIBBI first

this is also good

The Return of Depression Economics and the Crisis of 2008 (Hardcover)
by Paul Krugman

the Great unraveling Krugman[ame=http://www.amazon.com/Return-Depression-Economics-Crisis-2008/dp/0393337804]The Return of Depression Economics and the Crisis of 2008: Paul Krugman: 9780393337808: Amazon.com: Books[/ame]


this was good

[ame=http://www.amazon.com/FED-We-Trust-Bernankes-Great/dp/0307459691]In FED We Trust: Ben Bernanke's War on the Great Panic: David Wessel: 9780307459695: Amazon.com: Books[/ame]

I'm looking for a book I read a few years back documenting the step by step process that Paulson of the Treasury and Bernake (FED) took as the banking world unraveled. (Incidetly, the fact that they saved temporarily- our economy in 2008 was heroic. It didn't fix anything but it did keep the economy from total collapse.

That book will scare the hell out of you because its shows in step by step documented detail just how many laws they had to bend to save the BANKSTERS (hence this) economy.

Basically in 2007, thanks to Clinton's stupendously stupid decision NOT to monitor and control the dervivativer market, the banking system was BROKEN.


Incidently, Obama et al is doing NOTHING to much prevent the same kind of mess in the future.

Why?

Well I suspect were he to succeed in reining in the BANSTERS' CABAL, he'd be killed just like JFK was.


When I think of the title I'll get back to ya.

But essentially, those who study the 2007-2008 meltdown arrive at the pretty much the same conclusions.

Our banking system is broken by the dubious debt that its created over than 20 years.
Thosde debts benefitted the BANKS and pretty much nobody else except to create BUBBLES that have been and will continue to blow up the economy

 

[Truthmatters]

thanks Ill read up on it.

 

[CrusaderFrank]

Krugman LOL

Funniest thing since The Far Side

 

[Truthmatters]

which right leaning econ guy predicted the crash?

 

[iamwhatiseem]

can anyone fill me in to the info about the still exsisting bad Derivatives in the banks

In all honesty - why do you want to know?
The derivative markets is the next collapse. The extraordinary exposure that central banks have is unreal.
I am surprised you want to know since Clinton/Greenspan and Larry Summers are the grand architects of this market.

 

[CrusaderFrank]

which right leaning econ guy predicted the crash?

Off the top of my head Leon Black, Sam Zell and Stephen M Ross

 

[iamwhatiseem]

...But essentially, those who study the 2007-2008 meltdown arrive at the pretty much the same conclusions.

Our banking system is broken by the dubious debt that its created over than 20 years.
Thosde debts benefitted the BANKS and pretty much nobody else except to create BUBBLES that have been and will continue to blow up the economy

I removed some of the quote above.
Everybody wants to blame the other team - the liberals/Democrats want to convince themselves that the economic crash is Bush's fault, which is just stupid and childish thinking. The more reasonable liberals/Democrats however still want to believe that it is mostly Republican's fault - which is burying their heads in the sand and makes them sheep.

As i have said at least 1000 times, the economic collapse's "fault" knows no party boundaries. And nearly every single American played a part. Anyone who hasn't saved any money, anyone who bought a home they can't afford, anyone who has multi-$1000 credit card debt, anyone who blindly deposited money into 401k's, basically every American who lived beyond their means which is practically EVERYone - you played a part in the collapse.
On the other side - the complete corruption of Wall Street/Federal Government/SEC/ and the governments involvement in the mortgage market (which still continues) is the facilitators that made fortunes off of our backs and stupidity.
It has not changed. Everything that caused the crash is still present. The only reason it has not totally collapsed is the FED and the Federal Government continual bail-out and propping up the central banks with our money.

 

[Truthmatters]

Fed survey: US economy growing throughout country  : Rutland Herald Online

 

[Truthmatters]

and now even Ryan admits tax hikes make it easier to balence our budget

 

[Truthmatters]

YES


the right is NOW going to ignore the good news on the economy instead of trying to just destroy any progress its makes.


That bodes well for the country

 

[SteadyMercury]

I'm surprised at how little the ss tax cut ending has affected the economy and consumer spending, before January there was plenty of hand-wringing.

 

[Truthmatters]

Americans know more into SS helps them.


They are way smarter than the republican rethoric.



That is why the Rs cant win elections without cheating and lying.

 

[Truthmatters]

This really is a most possitve develpment.

If the right really does begin to ignore the economic progress we can recover.


When you have people like Ryan saying right on fox news that tax cuts make it easier to balence the budget then maybe they will go back to fighting the country about things that dont matter like "wars om christmas" or something stupid like that that doesnt effect our progress.

Its gets them elected in their highly Jerrymandered districts but effect nothing in the real world.


We may be turning the corner with these nutters

 

[Truthmatters]

I'm surprised at how little the ss tax cut ending has affected the economy and consumer spending, before January there was plenty of hand-wringing.

maybe you didnt listen to the real warnings and are knee jerk reacting without looking at the real facts.

You know acting like a republican

 

[iamwhatiseem]

Hey look - it's Truthmatters talking to herself again...

 

[Daktoria]

The survey doesn't compare real growth to nominal expansion of the money supply.

In other words, it doesn't account for inflation. It also doesn't question debt sustainability. The economy currently appears addicted to deficit spending with no way out.