Global economic situation for liveaboard cruising yachties

Bambi is a good sport
I hope she makes it to a thousand

 

Hi Masrapido, been busy farming? I hope all is well down your way?...
Hi Boston - will you be able to keep a thread on your future build?...

http://www.gata.org/node/7954 has a link to an interesting read "De Carbonnel's essay is headlined "Gold Market Reaching the Breaking Point"" http://www.marketskeptics.com/2009/10/gold-market-reaching-breaking-point.html The 'end game' is drawing very near... Just wish it would hurry up a bit, I cannot handle "waiting", - - never have... punctuality and reliability is an appreciated trait, but in ageing doing it yourself becomes less strictly observed

 

Hi el capitan, yes, the farm kept me quite busy and with the summer here almost in, it's been a challenge too.. My water allocation is already running out. That means a lot of bureaucrats to see, for water allocation increase. And that requires a lot of patience.

So now with the usa "recovering", as predicted long time ago, the doomsday is somewhat more unlikely, no?

Pity...All those articles posted got me hoping for a world power reshuffle...

 

What recovery, words by politicians do not a recovery make... The fundamentals just do not exist.... It is the "paper green" of all that printing... No substance.... Those economists boast that they have the power of witchcraft... slight of hand, but NO more than that.... Just read the above from "Market Skeptics" and be very afraid, that cannot be "papered over"....

Download the podcasts and load them into your pocket mp3 player and go for a long walk/exercise (about 4 hours of listening there)... - The Financial Sense Newshour... - - - Often they source independent statistics, then sometimes??? use USA "official" stats., like - unemployment figures of less than 10%, ? - - but it is ACTUALLY nearer 21+%

 

Obrigado , Masrapido , for sparing me the bother of explaining why it is T³.

Masa, Ron Paul is about the only politician who appears to be fairly honest and is not owned by the bank (Fed) . Of course his anti fed stance will make his election unlikely as he will be working against some big powers. However there are many more of us than them so when people have had it , they will not nescessarilly respond to the will of those who hold the money anymore.

Expect a fatal "accident" to happen to him at that point.


Masrapido , what recovery?!
The US is in terminal decline, y punto.
There is nothing that can be done about that apart from damage control.
Which is not what they are doing now.
You know the series of Norwegian jokes about the really dumb fellow?
Once he was in a boat which had a little hole and was sinking. So he quickly drilled another hole so the water could drain away.
The US are now drilling holes with a pile driver set on full steam. The result is predictable.
We are living in the most historic times of all humanity.

You see in the past whenever man started living in an unsustainable way he would not be able to overshoot very far before finite resource replenishment rates would force him back again.
Now with the entire world population, currency systems, food production- In short all modern civilization - constructed upon fossil fuels, we have managed to overshoot by a VAST level. Start running out of those fuels and watch the entire edifice crumble. The US who have the most petrodependant setup of all will be the first to come apart.
These observations match up with what we are already witnessing.
Of course history has all its complex twists and turns , but lets not lose sight of the broad picture by focusing on details.

The only really serious doubt is whether or not we will see a world resource war before the US becomes officially bankrupt.
This is a matter of grave concern.
We are presently in much greater peril of nuclear holocaust than during the cold war, yet it is hardly getting media attention, whereas during the cold war they even had little children worried about it.

Some more reading http://theautomaticearth.blogspot.com/#at
It is an interview with an analyst
Whence;

 

Masrapido , what recovery?!

"You know the series of Norwegian jokes about the really dumb fellow?
Once he was in a boat which had a little hole and was sinking. So he quickly drilled another hole so the water could drain away.
The US are now drilling holes with a pile driver set on full steam. The result is predictable."

OK, T3 This is the second time this week we have been in agreement.
I think George Soros is the puppeteer who has his hand up the Puppident Obummer's backside.

 

Are You Ready for the Next Financial and Economic Crisis?

Evidence that the US is a failed state is piling up faster than I can record it.

One conclusive hallmark of a failed state is that the crooks are inside the government, using government to protect and to advance their private interests.

Another conclusive hallmark is rising income inequality as the insiders manipulate economic policy for their enrichment at the expense of everyone else.

Income inequality in the US is now the most extreme of all countries. The 2008 OECD report, "Income Distribution and Poverty in OECD Countries," [PDF]concludes that the US is the country with the highest inequality and poverty rate across the OECD and that since 2000 nowhere has there been such a stark rise in income inequality as in the US.
The OECD finds that in the US the distribution of wealth is even more unequal than the distribution of income.

On October 21, 2009, Business Week reported that a new report from the United Nations Development Program concluded that the US ranked third among states with the worst income inequality. As number one and number two, Hong Kong and Singapore, are both essentially city states, not countries, the US actually has the shame of being the country with the most inequality in the distribution of income.

The stark increase in US income inequality in the 21st century coincides with the offshoring of US jobs, which enriched executives with "performance bonuses" while impoverishing the middle class, and with the rapid rise of unregulated OTC derivatives, which enriched Wall Street and the financial sector at the expense of everyone else.

Millions of Americans have lost their homes and half of their retirement savings while being loaded up with government debt to bail out the banksters who created the derivative crisis.

Frontline’s October 21 broadcast, "The Warning," documents how Federal Reserve Chairman Alan Greenspan, Treasury Secretary Robert Rubin, Deputy Treasury Secretary Larry Summers, and Securities and Exchange Commission Chairman Arthur Levitt blocked Brooksley Born, head of the Commodity Futures Trading Commission, from performing her statutory duties and regulating OTC derivatives.

After the worst crisis in US financial history struck, just as Brooksley Born said it would, a disgraced Alan Greenspan was summoned out of retirement to explain to Congress his unequivocal assurances that no regulation of derivatives was necessary. Greenspan had even told Congress that regulation of derivatives would be harmful. A pathetic Greenspan had to admit that the free market ideology on which he had relied turned out to have a flaw.

Greenspan may have bet our country on his free market ideology, but does anyone believe that Rubin and Summers were doing anything other than protecting the enormous fraud-based profits that derivatives were bringing Wall Street? As Brooksley Born stressed, OTC derivatives are a "dark market." There is no transparency. Regulators have no information on them and neither do purchasers.

Even after Long Term Capital Management blew up in 1998 and had to be bailed out, Greenspan, Rubin, and Summers stuck to their guns. Greenspan, Rubin and Summers, and a roped-in gullible Arthur Levitt who now regrets that he was the banksters’ dupe, succeeded in manipulating a totally ignorant Congress into blocking the CFTC from doing its mandated job. Brooksley Born, prevented by the public’s elected representatives from protecting the public, resigned. Wall Street money simply shoved facts and honest regulators aside, guaranteeing government inaction and the financial crisis that hit in 2008 and continues to plague our economy today.

The financial insiders running the Treasury, White House, and Federal Reserve shifted to taxpayers the cost of the catastrophe that they had created. When the crisis hit, Henry Paulson, appointed by President Bush as Rubin’s replacement as the Goldman Sachs representative running the US Treasury, hyped fear to obtain from "our" representatives in Congress with no questions asked hundreds of billions of taxpayers’ dollars (TARP money) to bail out Goldman Sachs and the other malefactors of unregulated derivatives.

When Goldman Sachs recently announced that it was paying massive six- and seven-figure bonuses to every employee, public outrage erupted. In defense of banksters, saved with the public’s money, paying themselves bonuses in excess of most people’s life-time earnings, Lord Griffiths, Vice Chairman of Goldman Sachs International, said that the public must learn to "tolerate the inequality as a way to achieve greater prosperity for all."[Public must learn to 'tolerate the inequality' of bonuses, says Goldman Sachs vice-chairman]

In other words, "Let them eat cake."

According to the UN report cited above, Great Britain has the 7th most unequal income distribution in the world. After the Goldman Sachs bonuses, the British will move up in distinction, perhaps rivalling Israel for the fourth spot in the hierarchy.

Despite the total insanity of unregulated derivatives, the high level of public anger, and Greenspan’s confession to Congress, still nothing has been done to regulate derivatives.

One of Rubin’s Assistant Treasury Secretaries, Gary Gensler, has replaced Brooksley Born as head of the CFTC. Larry Summers is the head of President Obama’s National Economic Council. Former Federal Reserve official Timothy Geithner, a Paulson protege, runs the Obama Treasury. A Goldman Sachs vice president, Adam Storch, has been appointed the chief operating officer of the Securities and Exchange Commission.

The Banksters are still in charge.

Is there another country in which in full public view so few so blatantly use government for the enrichment of private interests, with a coterie of "free market" economists available to justify plunder on the grounds that "the market knows best"?

A narco-state is bad enough. The US surpasses this horror with its financo-state.

As Brooksley Born says, if nothing is done, "it’ll happen again."


But nothing can be done. The crooks have the government.

[PCR Note: The OECD report shows that despite the Reagan tax rate reduction, the rate of increase in US income inequality declined during the Reagan years. During the mid-1990s the Gini coefficient (the measure of income inequality) actually fell. Beginning in 2000 with the New Economy (essentially financial fraud and offshoring of US jobs), the Gini coefficient shot up sharply.]

Lots of Interesting links in article and source:http://www.marketoracle.co.uk/Article14576.html

 

TTT your inverted pyramid is very effective - and demonstrates the total insanity of it all...

I copied this from the web link http://www.marketskeptics.com/2009/10/gold-market-reaching-breaking-point.html and the PDF version I made, is attached (I don't think the links in the document are live but the web addresses are still there, in many)... I did it so I could print it and as such is easy to share... Adds to the summary by Bamby...

It feels to me as the BIG BANG is just around the corner? - - fuckin scarey now.... Hope all you good folk survive in some peace and comfort, seeing as how I hope your preparations are adequate to weather the storms....

I still have no news on the Treasuries Auction last Thursday? - I suppose they went OK as the market would have been full of the hype of "recession over" ******** and strengthening US$ because of the MASSIVE short position and a few other tricks to give the US$ a temporary boost till the auction was over.... That stuff in the 'marketskeptics-gold-games.pdf' (my name for it) adds to the intensity of what is real and what is an empty fraudulent offer.... - time to go tangibles and non-paper...

http://www.caseyresearch.com/displayGsd.php "A Surprise Gold Rally"
http://www.elliottwave.com/ezine/weekly_select/ewi_weekly_select_online_103109.html
http://www.caseyresearch.com/displayCdd.php?id=264 "Weekend Edition"
http://www.gata.org/node/7955 "Silver market analyst Ted Butler interviewed by King World News" http://www.kingworldnews.com/kingwo...09/10/30_Ted_Butler_on_the_Metals_Market.html
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2009/10/30_Congressman_Ron_Paul.html

When a market is so grossly manipulated then all bets are off as to "interpretation via charts" so, make of things what you will... ****** if I can figure it out... Some suggest up, others down and many suggest "up-yours" with the extended second finger from a closed hand held aloft...:?:

 

Otherwise known as "Hawaiian greeting of happiness" (with apologies to Hawaiians - who have a reputation for seeing things through happy eyes)

 

Interesting article emailed to me:

"We thought cash for clunkers was the ultimate waste of taxpayer money, but as usual we were too optimistic. Thanks to the federal tax credit to buy high-mileage cars that was part of President Obama's stimulus plan, Uncle Sam is now paying Americans to buy that great necessity of modern life, the golf cart.

The federal credit provides from $4,200 to $5,500 for the purchase of an electric vehicle, and when it is combined with similar incentive plans in many states the tax credits can pay for nearly the entire cost of a golf cart. Even in states that don't have their own tax rebate plans, the federal credit is generous enough to pay for half or even two-thirds of the average sticker price of a cart, which is typically in the range of $8,000 to $10,000. "The purchase of some models could be absolutely free," Roger Gaddis of Ada Electric Cars in Oklahoma said earlier this year. "Is that about the coolest thing you've ever heard?"

The golf-cart boom has followed an IRS ruling that golf carts qualify for the electric-car credit as long as they are also road worthy. These qualifying golf carts are essentially the same as normal golf carts save for adding some safety features, such as side and rearview mirrors and three-point seat belts. They typically can go 15 to 25 miles per hour.

In South Carolina, sales of these carts have been soaring as dealerships alert customers to Uncle Sam's giveaway. "The Golf Cart Man" in the Villages of Lady Lake, Florida is running a banner online ad that declares: "GET A FREE GOLF CART. Or make $2,000 doing absolutely nothing!"

Golf Cart Man is referring to his offer in which you can buy the cart for $8,000, get a $5,300 tax credit off your 2009 income tax, lease it back for $100 a month for 27 months, at which point Golf Cart Man will buy back the cart for $2,000. "This means you own a free Golf Cart or made $2,000 cash doing absolutely nothing!!!" You can't blame a guy for exploiting loopholes that Congress offers.

The IRS has also ruled that there's no limit to how many electric cars an individual can buy, so some enterprising profiteers are stocking up on multiple carts while the federal credit lasts, in order to resell them at a profit later. We should note that some states, such as Oklahoma, have caught on to the giveaway and are debating whether to cancel or limit their state credits. But in Congress they're still on the driving range.

This golf-cart fiasco perfectly illustrates tax policy in the age of Obama, when politicians dole out credits and loopholes for everything from plug-in cars to fuel efficient appliances, home insulation and vitamins. Democrats then insist that to pay for these absurdities they have no choice but to raise tax rates on other things—like work and investment—that aren't politically in vogue. If this keeps up, it'll soon make more sense to retire and play golf than work for living.

 

well aint that a coincidence
there is a place just off the highway not far from here that is advertising exactly those numbers on a big huge sign hanging over a lot full of golf carts
and it looks like the have been moving there share of carts lately

Mas
Im not moving anywhere yet and I still need to check to see if the place has a clear shot to the water, but if it does, then $10,000 negotiable for ~3 acres will work just fine. Although prices are still dropping as near as I can tell so I might just hold out a little longer. As I said long ago on another thread ( and its a basic tenant by which I build anything ) I wont begin the process till I have all the stuff in hand.

 

Agree completely. I was cynical. Some pages back you might find an old post of mine talking about this scenario, where the usa govt will go down fighting dirty while trying to grab anything to save its arse from falling into the abyss dug by their own hands.

This "recovery" is just what I was talking about there. We should not underestimate the resilience of the capitalist top level to pull any tricks in times of crisis. No matter how stupid these tricks are.

I do note that Osama bin Barrack has lost a lot of his "appeal" and it appears on tv more like by "the way" nowadays.

The reality is setting in. He's just another puppet in the hands of the real crimsons and can do pluck all to change the mafia on top.

Even if he wants to, which I think he now knows he's to small a fish to even dare to do so. He must have been summoned and disciplined by the shitheads that dictate over there...The bankers.

 

and bamby is still having 0 posts...

 

Good post. I wrote something along these lines a few pages back. It should be just a matter of time for usa to fall into the chaos, and ONLY thanks to their fat pigs (the pigs so precisely described by Orvel) sitting in their
'castles" and manipulating everything and everyone just because they can.

And they call THAT a "democratic capitalism"...

Nazist dictatorship is more to the point. But, I said then that I find such a prospect deeply disturbing. usa should reform into a democracy and renounce the force as means of negotiating. Withdraw all soldiers into the country and focus on healing its own deeply injured economical and political situation.

If it doesn't, the only other option is dissolution. Which is what many analists are predicting. And that is always ugly.

Creditors will not sit on a side if that happens...

 

But usa begging commies (China) to save their souls by sending more humanitarian help into the usa (by buying bonds, property, everything), already owing 1 trillion to the commies, that is delightful!

Will that work?