Paul warns of inflation, depression

Doc Mercer

EOG Master
Re: Paul warns of inflation, depression

Wow ...

Ron .... no shit?

This was talked about back on Fox News one nite back in early 06 and Hannity mocked the guest - sorry .. dont remember the fellas name right now
 

brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

Monday, June 15, 2009

Cities Collapsing one by one in the U.S.


<EMBED src=http://www.liveleak.com/e/3e0_1235601005 width=450 height=370 type=application/x-shockwave-flash wmode="transparent"></EMBED>
Note: Inflation described and how it works on VERY INFORMATIVE 10 minute video above.

(snippet)
And though the stadium is very nice, we came off thinking that in a sense the HBO show The Wire, actually makes Baltimore seem better than it really is. Because if you watched The Wire, you might conclude that all the messed up parts were confined to some section of the city, rather than the whole thing itself. But it's really all pretty miserable. We regret not putting it on our list of depressing cities.

Even downtown by day is pretty sad, given the prominence of once-glorious money manager Legg Mason (LM). And then at night it's just kind of miserable.

Anyway, we're not the only ones with no interest in The Charm City.

peHUB posts a copy of a letter to the editor from New Enterprise Ventures, a VC firm that's moving out of Baltimore. This part is particularly rich:

Our decision was a result of the high level of crime in our neighborhood. Over the last several years, many of our cars have been broken into resulting in very expensive repairs, our employees have been robbed at gun point, drug needles and used condoms have been left on our front stoop, and psychotic homeless people have menaced our employees and threatened to kill them. We have voiced our frustrations to the local community leaders and police, but the environment has only worsened. The recent local beatings by roving teenagers during the day in this neighborhood, the raucous club in the basement of the Belvedere, and other gang violence throughout the city reinforces the appropriateness of New Enterprise Associates? decision to move in order to protect its employees.

Yeesh!

All joking aside, it really is tragic, since on the surface there's no reason the city needed to be that bad. It's got a beautiful spot on the water, in what should be a successful Eastern Seaboard state. And unlike Detroit, it wasn't married to a single industry that got absolutely gutted over the past several years. Why do we keep losing our cities? It's an embarrassment.

Link
 

Scott L

EOG Enthusiast
Re: Paul warns of inflation, depression

Come on Railbird. Do you really think anyone here believes that Landau thinking people should be free to worship as they choose, or that gay people shouldn't be beaten to a pulp ....... depresses you as much as when you look in the mirror and are constantly reminded of what a bitter loser in life that you are?

If there's anything else I can do to further your self-hatred and depression let me know.
 
Re: Paul warns of inflation, depression

It's got to be a tough time of year for RBIRD, now that most Little Leagues are finished and the Boy Scout troops are all gone away to summer camp.

This forces him to use old photos and internet images to get him over the top most nights.
 
Re: Paul warns of inflation, depression

Come on Railbird. Do you really think anyone here believes that Landau thinking people should be free to worship as they choose, or that gay people shouldn't be beaten to a pulp ....... depresses you as much as when you look in the mirror and are constantly reminded of what a bitter loser in life that you are?

If there's anything else I can do to further your self-hatred and depression let me know.

Nice post. It would merit a "sharp post" if the target wasn't so easy. Unfortunately--through no fault of your own--you lose style points when the fruit hangs so low. . .
 

brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

Cap and Trade Will Lead to Capital Flight


In my last column, I joked that with public spending out of control and the piling on of the international bailout bill, economic collapse seems to be the goal of Congress. It is getting harder to joke about such a thing however, as the non-partisan General Accounting Office (GAO) has estimated that the administration?s health care plan would actually cost over a trillion dollars. This reality check may have given us a temporary reprieve on this particular disastrous policy, however an equally disastrous energy policy reared its ugly head on Capitol Hill last week.<?XML:NAMESPACE PREFIX = O /><O:p></O:p>
The Cap and Trade Bill HR 2454 was voted on last Friday. Proponents claim this bill will help the environment, but what it really does is put another nail in the economy?s coffin. The idea is to establish a national level of carbon dioxide emissions, and sell pollution permits to industry as the Catholic Church used to sell indulgences to sinners. HR 2454 also gives federal bureaucrats new power to regulate a wide variety of household appliances, such as light bulbs and refrigerators, and further distorts the market by providing more of your tax money to auto companies.<O:p></O:p>
The administration has pointed to Spain as a shining example of this type of progressive energy policy. Spain has been massively diverting capital from the private sector into politically favored environmental projects for the better part of a decade, and many in Washington apparently like what they see. However, under no circumstances should anyone serious about economic recovery emulate an economy that is now approaching 20 percent unemployment, where every green job created, eliminated 2.2 real jobs and cost around $800,000 each!<O:p></O:p>
The real inconvenient truth is that the cost of government regulations, taxes, fees, red tape and bureaucracy is a considerable expense that has to be considered when companies decide where to do business and how many people they can afford to hire. Increasing governmental burden directly causes capital flight and job losses, as Spain has learned. In this global economy its easy enough for businesses to relocate to countries that are more politically friendly to economic growth. If our government continues to kick the economy while its down, it will be a long time before it gets back up. In fact, jobs are much more likely to go overseas, compounding our problems.<O:p></O:p>
And for what? Contrary to claims repeated over and over, there is no consensus in the scientific community that global warming is getting worse or that it is manmade. In fact over 30,000 scientists signed a petition recently directly disputing the claims on which this policy is based. Legitimate environmental claims should instead be directed towards the public sector. The government, especially the military, is the most serious polluter in the country, and is exempt from most EPA regulations. Meanwhile Washington bureaucrats have classified the very air we exhale as a pollutant and have gone unchallenged in this incredible assertion. The logical consequence is that there will come a time when we will have to buy a government permit just to emit carbon dioxide into the atmosphere from our own lungs!<O:p></O:p>
The events on Capitol Hill last week just demonstrate Washington?s audacity in manufacturing problems just so they can expand government power to solve them. <O:p></O:p>

Posted by Ron Paul (06-29-2009, 01:04 PM
 

brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

Ron Paul: The Free Market as Regulator

By Ron Paul | Texas Straight Talk
August 18, 2009


Since the bailouts last fall, lawmakers have been behaving as quasi-owners of the bailed-out banks and businesses, leading to calls for increased regulation of executive compensation and other wasteful expenditures. We have heard much about bonuses and executive pay packages that sound more like lottery winnings than an honest salary.
Many lawmakers voted in favor of these unconstitutional bailouts, believing that these corporations were too big to fail, and allowing them to go under would precipitate widespread economic disaster. This second wave of citizen outrage at the bailouts has left these lawmakers with a bit of egg on their face, and once again, they feel the need to "do something" to "fix" it. Shouldn't there be a regulatory structure in place governing executive compensation? Politically, it seems quite feasible. People are outraged that the system has once again gutted the many to make a few at the top fantastically wealthy. But they are incorrectly demonizing the free market.
What we need to realize is that there WAS a regulatory structure in place that was attempting to stop bad management, including overpaying executives. That regulatory structure is the free market, and when poor management brought these companies to the point of bankruptcy, Congress circumvented the wisdom of the free market, and inserted its own judgment at our expense. And now because of that intervention, we will burdened with massive new regulations. We can be certain this effort will fail.
The free market is a naturally occurring phenomenon that can't be eliminated by governments, not even totalitarian ones like the former Soviet Union. It can be regulated, over-taxed and manipulated until it is driven underground. Lately it has been wrongly accused of doing so many things it just doesn't do, that are really the fault of crony corporatism and convoluted government policies that brought on the crisis. Too many people equate the free market with big business doing whatever it wants, but that is not the free market. Unconstitutional taxpayer funded bailouts are what allow giant corporations to run roughshod over the economy. The free market is what puts them out of business when they misbehave.
The free market is you and your neighbors working hard to produce what you produce, and exchanging goods and services voluntarily, in mutually agreeable arrangements. The free market is about respecting property rights and contracts. It is not about building up oligarchs and monopolies and confiscatory tax theft - these are creatures of government.
We must watch out when government comes up with interventionist solutions to interventionist problems. The root of our problems lie in interventionism. Trusting the free market is the solution.
Posted by Ron Paul (08-18-2009, 01:43 PM)
 

brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

Obama Jobless Recovery gets Advice from Bernanke and causes tent sales to rise

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brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

Fed Monetizes $2.7 Billion Worth Of ~5 Year Bonds

Fed Monetizes $2.7 Billion Worth Of ~5 Year Bonds, Submitted-Accepted Ratio Drops To 5.8x



Submitted by Tyler Durden on 09/07/2010 10:50 -0500




Today, the Fed monetized $2.708 billion as part of its ongoing POMO monetization operations, to inject the market with a daily dose of liquidity and keep stocks higher. The biggest issue repurchased was the 2.625% of 12/31/14, followed by the 2.375% of 3/31/16, once again confirming that the Fed prefers buying the cheapest issues on the curve spline. Surprisingly, the Submitted/Accepted ratio came at a very low 5.8x: it appears few were as excited by today's monetization as those of prior weeks, when this would come well in the double digit range. And now that the liquidity injection is complete, and the mini ramp post 11am is done, we have to look forward to today's 1 PM auction of $33 billion in 3 Years, which will likely soak up all the non-risk allocatable funds held by the Primary Dealers. Also, the most recently monetized tranche was the 5 Year MH0 as of January 27, 2010.


<TABLE class=contentpaneopen><TBODY><TR><TD class=contentheading width="100%">Successful Economic Policies? For Whom?

Dr. Ron Paul


</TD><TD class=buttonheading align=right width="100%"></TD><TD class=buttonheading align=right width="100%"></TD><TD class=buttonheading align=right width="100%"></TD></TR></TBODY></TABLE><TABLE class=contentpaneopen><TBODY><TR><TD vAlign=top>Last week, in the wake of another uptick in the official unemployment rate, the administration continued to claim that their economic policies were working, just not fast enough. This administration inherited an unemployment rate of 7.7% and promised a peak of no higher than 8% if their policies were followed. Not only does the administration have a funny way of ending a war, but now they claim their economic policies are successful. For whom, I wonder?
These policies are not working for the 9.6% of Americans who are out of work, nor for the over16% underemployed. They are not working for nearly 3 million Americans who have declared bankruptcy in the last two years, or the 40 million currently on food stamps. Nearly 1 in 6 Americans depend on those and other government anti-poverty programs such as Medicaid and unemployment benefits. As more Americans are added to the unemployment rolls, the tax base from which to hand out their benefits is shrinking. Still, businesses are being taxed and regulated out of the market, adding to the problem. What solutions are put forth? More government spending - even as each citizen?s portion of the public debt is over $43,000 and expected to increase by $250,000 over the next 40 years.
No, this economy is not working for these people. But current economic policy does ?work? for some people. For example, it has worked out very well for certain bankers and large corporations, who took on too much risk and got themselves in hot water, and were declared ?too big to fail? which is really a euphemism for ?friends in high places?. It works well for large, well-connected military industrial corporations, who can always count on perpetual war and conflict to keep them in business. It also works for those on the government?s payroll, which is increasing as the tax base is decreasing.
So where does the government get all this money even as its most obvious stream of revenue dries up? How can it keep spending seemingly indefinitely? Once it steals as much from you as it can get away with through taxation, it steals even more from you through what central bankers like to call quantitative easing, which is more or less the same thing as counterfeiting. When the money is no longer based on a finite quantity of something of value, like a store of gold or silver, the amount of money in circulation is not limited by anything but the restraint of those in control of the printing presses, in our case the Fed and the US Treasury. When increasing pressure is put upon them by irresponsible politicians, it is predictable that out of thin air, more money will be created to satisfy the insatiable appetites of those on political spending sprees. As money becomes more plentiful, it becomes less valuable, and the average citizen suffers again as the value of their savings evaporates. It has happened over and over in history, and what usually follows is the total debasement of the currency, hyperinflation and chaos.
Sound economic policy would be to take our foot off the gas and apply the brakes to government spending as the economic cliff approaches. We must get back to where our economy produces actual wealth, rather than mere paper wealth. The road back to fiscal sanity and a strong economy is simple: Congress just needs to get back to following the Constitution.
Successful Economic Policies? For Whom?
<SCRIPT language=javascript type=text/javascript>var obj = SHARETHIS.addEntry({title: "Successful Economic Policies? For Whom?",url: "http://paul.house.gov/index.php?option=com_content&view=article&id=1769:successful-economic-policies-for-whom&catid=31:texas-straight-talk",description: "",content: "Last week, in the wake of another uptick in the official unemployment rate, the administration continued to claim that their economic policies were working, just not fast enough. This administration inherited an unemployment rate of 7.7% and promised a peak of no higher than 8% if their policies were followed. Not only does the administration have a funny way of ending a war, but now they claim their economic policies are successful. For whom, I wonder?\r\nThese policies are not working for the 9.6% of Americans who are out of work, nor for the over16% underemployed. They are not working for nearly 3 million Americans who have declared bankruptcy in the last two years, or the 40 million currently on food stamps. Nearly 1 in 6 Americans depend on those and other government anti-poverty programs such as Medicaid and unemployment benefits. As more Americans are added to the unemployment rolls, the tax base from which to hand out their benefits is shrinking. Still, businesses are being taxed and regulated out of the market, adding to the problem. What solutions are put forth? More government spending - even as each citizen?s portion of the public debt is over $43,000 and expected to increase by $250,000 over the next 40 years.\r\nNo, this economy is not working for these people. But current economic policy does ?work? for some people. For example, it has worked out very well for certain bankers and large corporations, who took on too much risk and got themselves in hot water, and were declared ?too big to fail? which is really a euphemism for ?friends in high places?. It works well for large, well-connected military industrial corporations, who can always count on perpetual war and conflict to keep them in business. It also works for those on the government?s payroll, which is increasing as the tax base is decreasing.\r\nSo where does the government get all this money even as its most obvious stream of revenue dries up? How can it keep spending seemingly indefinitely? Once it steals as much from you as it can get away with through taxation, it steals even more from you through what central bankers like to call quantitative easing, which is more or less the same thing as counterfeiting. When the money is no longer based on a finite quantity of something of value, like a store of gold or silver, the amount of money in circulation is not limited by anything but the restraint of those in control of the printing presses, in our case the Fed and the US Treasury. When increasing pressure is put upon them by irresponsible politicians, it is predictable that out of thin air, more money will be created to satisfy the insatiable appetites of those on political spending sprees. As money becomes more plentiful, it becomes less valuable, and the average citizen suffers again as the value of their savings evaporates. It has happened over and over in history, and what usually follows is the total debasement of the currency, hyperinflation and chaos.\r\nSound economic policy would be to take our foot off the gas and apply the brakes to government spending as the economic cliff approaches. We must get back to where our economy produces actual wealth, rather than mere paper wealth. The road back to fiscal sanity and a strong economy is simple: Congress just needs to get back to following the Constitution.",updated: "0000-00-00 00:00:00"}, {button: true}); var id = "sharethis_" + obj.idx;var x = document.getElementById(id);obj.attachButton(x);</SCRIPT>
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brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

Tank says I should be a more positive guy so Ill just post this without comment :+signs8-1

I think its speaks for itself




Federal Reserve Balance Sheet Update: Week Of September 29<SUP></SUP>

Submitted by Tyler Durden on 09/30/2010 17:40 -0500



Probably the most interesting thing in this week's Fed balance sheet update is that Treasurys held by the Fed are now $812 billion, an increase of $7 billion from the week before, which those who follow the FRBNY's almost daily POMO liquidity explosion know all too well. Indicatively, Japan owns $821 billion and China, $847 billion. We believe that within one week the Fed will surpass Japan as the second largest holder of Treasurys, and China, the currently top holder, in just over a month. Another notable item: Fed excess reserves were at $981 billion, a decline from $1.01 trillion at the beginning of the month, but most notably, in the past month this number hit a year low of $932 billion on September 15. One wonders just what securities the banks were buying up with these reserves? Keep in mind the stock market closed essentially at the level it hit on September 20, making one wonder just how much of a factor the nearly $80 billion decline in bank excess reserves in the first two weeks of the month may have been.


Buy some..... fast.......:+scared-7

 

tank

EOG Dedicated
Re: Paul warns of inflation, depression

Watch Video

Where would we be without Mr.Happy???Food riots any day now right Bruce??Or is it depression week??Hell we was suppose to be in bread lines a year ago according to Mr.Happy!!
 

brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

Tell that to the 20% of the population who are unemployed :doh1

You better buckle up tough guy


Food Prices Soaring
Repeated warnings about food stores and rising prices over the last year have gone unheeded by the masses, who remain concerned about stock markets, Mike ?The Situation? and Snookie?s next Jersey Shore party destination, and whether or not they will be able to upgrade to the next iteration of the iPhone before the Jones family next door.
But while Americans continue to put focus on consumption, a hidden menace is creeping up and will eventually spill into the mainstream - albeit too late for those who weren?t paying attention. Though not yet reflected in day-to-day retail prices of food, it?s only a matter of weeks or months before consumers start to realize their grocery bills are increasing by 20%, 30% or more.
The Coming Depression
 

tank

EOG Dedicated
Re: Paul warns of inflation, depression

Tell that to the 20% of the population who are unemployed :doh1

You better buckle up tough guy


Food Prices Soaring
Repeated warnings about food stores and rising prices over the last year have gone unheeded by the masses, who remain concerned about stock markets, Mike ‘The Situation’ and Snookie’s next Jersey Shore party destination, and whether or not they will be able to upgrade to the next iteration of the iPhone before the Jones family next door.
But while Americans continue to put focus on consumption, a hidden menace is creeping up and will eventually spill into the mainstream - albeit too late for those who weren’t paying attention. Though not yet reflected in day-to-day retail prices of food, it’s only a matter of weeks or months before consumers start to realize their grocery bills are increasing by 20%, 30% or more.
The Coming Depression
This is the same doom and gloom you predicted over a year ago?I haven't noticed but I sure will be depressed and sit around and mope hoping the food prices go up .Then what are we up too for waiting for the food riots to happen??, another year maybe??How about another 2 or 3 years??
 

brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

<TABLE cellPadding=3 width="100%"><TBODY><TR><TD vAlign=top align=left width="30%"><TT></TT>
<TT>Maybe if we just give the Community organizer another trillion he can get us out of this????</TT>
<TT></TT>
<TT>
</TT>
<TT></TT>
<TT></TT>
<TT></TT>
<TT></TT>
<TT></TT><TT></TT>
<TT></TT>
<TT>JOBLESS CLAIMS RISE; </TT>
<TT></TT>
<TT>INFLATION PRESSURE GROWS...



Gold soars...</TT>



</TD></TR></TBODY></TABLE>
 

brucefan

EOG Dedicated
Re: Paul warns of inflation, depression

ok, the way I see this is we have two choices

1/ raise rates to 30% next week

2/ shrink the size of government by 90% by next month

Otherwise, we are doomed

Any candidate that doesnt address monetary policy should not be taken seriously :cheers
Fed Now Holding $1.5 Trillion in U.S. Treasuries

Federal Reserve holdings of U.S. treasuries have now surpassed $1.5 trillion for the first time ever. China’s holdings now stand at $1.145 trillion after five consecutive months of declines, with Japan’s holdings coming in third at $908 billion. With China’s central bankers calling for the country to diversify out of U.S. treasuries and Japan likely to become a net seller of U.S. treasuries to pay for their rebuilding efforts, the Fed’s accumulation of U.S. treasuries will likely accelerate in the months ahead. With everybody questioning whether or not there will be a QE3, there has to be a QE3, although the Fed will likely carefully craft a new creative name for it. If the Fed stopped expanding its balance sheet, interest rates would soar through the roof and the U.S. would immediately enter a Hyperinflationary Great Depression, with soaring interest payments on our national debt.


http://inflation.us/blog/2011/05/fed-now-holding-1-5-trillion-in-u-s-treasuries/
 
Re: Paul warns of inflation, depression

ok, the way I see this is we have two choices

1/ raise rates to 30% next week

2/ shrink the size of government by 90% by next month

Otherwise, we are doomed

Any candidate that doesnt address monetary policy should not be taken seriously :cheers

Option #2, please.
 
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