Financial topics

[OLD1953]

Functional governance can only come from the actual center of things, where the desires for liberty are weighed against desires for security, where the spending is weighed against balance, where income and outlay are matched against need vs desire and a real balance of all these things is achieved. Many of our economic problems are simply due to uncertainty and fear of spending money when things may, indeed must change shortly.

The fiscal cliff is approaching, myself, I don't see the problem with simply falling over it and having done with it. I think the last session of this Congress will act, for the obvious reason. If Republicans take it all, then the Democrats will make a deal, because if they don't, all they can do is filibuster whatever Republicans want on taxes, and the Democrats don't want that. If Democrats take it all, then Republicans will see that if they run off the cliff, the Democrats will be in a position to set the discussion in a couple of months, and they'll make a deal. If results are divided, then they'll be forced to make a deal because otherwise Democrats can simply laugh at attempts to cut until they get what they want. So there'll be a deal, inevitably, because both sides will see not making a deal will put them in a worse position in the next Congress. Perhaps this forced bargain will set the tone for the next Congress. We can hope - there's always hope.

Didn't save any links, but noticed stories that highlighted younger people becoming scared by their parents problems, and saving more. Also noticed that while durable goods purchases dropped, CEO confidence is up slightly according to some sources, others say it's down to a three year low. Not sure what that means, unless politics has gotten into the business reporting more than it usually does. Someone is lying, that's certain.

http://chiefexecutive.net/category/ceo-confidence-index

Stocks will drop after the election, of course, of all the reliable stock moves I know of that's one that hardly ever misses.

[John]

The thing that really bothers me about the cliff is
the destruction it will wreak on defense.

[Marc]

The thing that really bothers me about the cliff is
the destruction it will wreak on defense.

Very true, which certainly doesn't do homeland defense during a Chinese Fourth Turning any favors. However, I'm betting that to a goodly extent, fancy accounting and off-the-books tactics will be used to keep much of the US defense apparatus up to snuff — and there is always the tactic of making much of it classified and putting it under the wing of agencies such as the CIA as well. Thanks, John and OLD, for the cogent thoughts. —Best regards, Marc

[John]

I heard someone on tv say that Barack Obama is "defying gravity" by
having high poll numbers with such a bad economy.

It occurs to me that the same phrase also applies to the stock
market.

It's like everyone's on LSD.

[Marc]

It's like everyone's on LSD.

Yeah, there must be "something Second Turning" afloat in the early part of our current Fourth Turning: our having a US President at this time who not only started off with rock-star popularity, but who is "defying gravity" in regards to popularity despite the prolonged dismal economy......must indeed be the LSD........maybe all that fracking due to Peak Oil has mysteriously unleashed it.... —Regards/Cheers, Marc

[aedens]

I heard someone on tv say that Barack Obama is "defying gravity" by
having high poll numbers with such a bad economy.

It occurs to me that the same phrase also applies to the stock
market.

It's like everyone's on LSD.

Have you not heard? A Low Sodium Diet is good for you. Also the FED, wishes the last 2 people left in the middle class to refinance
and save the economy. The feds ancillary disiplines of all this will be just fine with us if we blow up more new goat farmers another
decade to save the economy that is entering phase three also. The banks can internally recycle the .25 percent interest rate and live as
gods of the new age as they are to date forever! The hubris and arrogance of taxpayers Panglossian thinking are limited
to the banks ability to love the ZIRP and NIRP policy's to save the taxpayers from themselves since the ratio of new earners to housing
affordability and reflate housing higher since it is just pure genius to further outstripe labor to housing.
The Acedemic Masters are on task pointing out our ancestors were all semi morons that we can already kill the planet 10,000 over anyway
so we need 100 percent more money to get them on the beaches as they swim over to get us.
Washington, Moscow, Peking will save us all in there financial love.
I have no issue in the defense of taxpayers since we see only competant actors.

http://www.trulia.com/home_prices/Michigan/
Every Younger one I know says housing prices are still inflated beyond the ability to buy
and the one who did say we are stupid to have bought one at even these prices.
Only 20 percent who listened last time averted capital destruction of ~40 percent in savings
and now zirp and nirp. As a confirmation to the tax sales noted some time ago the paper conveyed tonight NEVER
have they had this many tax sales.
http://www.zerohedge.com/news/guest-pos ... depression

[vincecate]

It occurs to me that the same phrase also applies to the stock
market.

It's like everyone's on LSD.

The Fed is not taking away the punch bowl, they spiked it.

[aedens]

It occurs to me that the same phrase also applies to the stock
market.

It's like everyone's on LSD.

The Fed is not taking away the punch bowl, they spiked it.

As of this September 6th, China and Russia have decided to trade oil in non-petro dollars. Also, Iran can sell their oil to them without worrying about US sanctions. This is a huge development which has not fully sunk in... Vin they are just starting to see why and how.
Who remembers Kissingers export control playbook and what Volkner did later to clean it up?

Pun intended on Acid test coming: http://www.zerohedge.com/contributed/20 ... cb-instead

http://www.mises.ca/posts/articles/russ ... t449493971

What upset me even more than sour milk was the realization that when I worked as a part-time waitress, I made more money than my cousin does working as a veterinarian, and my aunt as a nurse.

As for the moralist smart kids 3,100 firms and agencies involved in war on terror as noted in 2010. Sucks to be a goat farmer these days.

[OLD1953]

Picking someone who's been a big name on Wall Street to run at this time was a complete mistake. On top of that, he's got a long record, much of it on video. Cheap video made it's appearance in the 70's, became common in the 80's, and all that old video is coming back on everyone who wants to get into politics now. This is why so many successful politicians now have no discernable career outside of politics, you literally can't have that lily white clean background without having been prepping for it from high school.

What's really interesting to me is the way the Democrats have moved into many old Republican positions as the Republicans moved away. This leaves a lot of room open on the left of the Democrats. It would not surprise me at all to see the parties change positions, as they have before, and the Democrats become the conservative party and the Republicans become the more liberal party. These things happen.

[aedens]

I was talking to the wife and she remembered that time of the pension looting and tax payer funded off shoring of jobs. This has never left our thoughts
even decades later.