Global Economy Bursting?

[Austin]

I went into the real estate business with my dad in 1972. I did real estate auctions/sales and appraisals. I needed a real estate license and a $15 business license to do appraisals and auctions. Then the state got involved to regulate things. I had to get an auctioneers license with a state exam then CE in auctioneering every 2 years. Then along came appraisal regulation and you all know what that involved with all the CE. Then the real estate board forced CE for that so in the end I had to take CE classes for all three licenses. The bottom line is: Things are worse now than they were before regulations. Especially in auctioneering and appraising and the new breed of Realtor is beyond the pale. All that regulation and CE and this is what we have to show for it. They could shut it all down and things would even improve. The market is a powerful force. As my dad used to say: "You can't pass a law to protect the stupid."

 

[Couch Potato]

I went into the real estate business with my dad in 1972. I did real estate auctions/sales and appraisals. I needed a real estate license and a $15 business license to do appraisals and auctions. Then the state got involved to regulate things. I had to get an auctioneers license with a state exam then CE in auctioneering every 2 years. Then along came appraisal regulation and you all know what that involved with all the CE. Then the real estate board forced CE for that so in the end I had to take CE classes for all three licenses. The bottom line is: Things are worse now than they were before regulations. Especially in auctioneering and appraising and the new breed of Realtor is beyond the pale. All that regulation and CE and this is what we have to show for it. They could shut it all down and things would even improve. The market is a powerful force. As my dad used to say: "You can't pass a law to protect the stupid."

You certainly can. Just don't expect it to work.

 

[Austin]

I have always heard that to test the metal of something you must put it under stress. Anyone who thinks FoxNews and FoxBusiness is the voice of Conservatism is grossly misinformed. Every single talking head cracked under the stress of the budget deal. Everyone from O'Reilly to Varney, Judge Napalatano excepted, want a tax increase and say the problem is not enough tax revenue in addition to spending cuts. They all want a compromise and want it fast all except the good judge. One of my favorites was Tracy Burns but she has been revealed as nothing but a hot mouth feminist big government establishment type. Just another government media source just like the rest with few exceptions.

 

[coolhandluke]

I have always heard that to test the metal of something you must put it under stress. Anyone who thinks FoxNews and FoxBusiness is the voice of Conservatism is grossly misinformed. Every single talking head cracked under the stress of the budget deal. Everyone from O'Reilly to Varney, Judge Napalatano excepted, want a tax increase and say the problem is not enough tax revenue in addition to spending cuts. They all want a compromise and want it fast all except the good judge. One of my favorites was Tracy Burns but she has been revealed as nothing but a hot mouth feminist big government establishment type. Just another government media source just like the rest with few exceptions.

Rush Limbaugh for Emperor

 

[Randolph Kinney]

Any media has its own following and not because of the truth content.

The stage is set for the players to act out their roles - the plot thickens - there is subterfuge afoot. Will there be a surprise ending? Or the same old 11th hour backroom deal?

 

[Big ole Boy]

A new development and the Moody Blues

.... for the first time I can remember ... talk radio heads are splitting away from the Republicans ...

.... talk radio heads (except for Bill Bennet) are holding to reality and want to see the country fight for a reduction in government spending now .... not tomorrow, not next week, not next year ... etc ....

.....................NOW ..................................................!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

.............


.... Moody's ratings are worthless ....... it would be better to dissolve Moody's ....

.... ability to pay back debt according to Moody's logic .... would be to simply hyper-inflate the dollar to accomplish it .....

...... there is no more blood in the turnip .....

40 cents of ever dollar spent is borrowed ....... a .00000000001 interest rate can not fix the fact that eventually Keynesian economics runs out of productive resources ...


... Obama has already indicated he will uni-laterally increase the debt ceiling until congress votes in a way that the President wants them to vote ....

..... dictator afoot .... bully money

 

[Austin]

The media all have a vested interest in big government. I have a different perspective because I was taught a different view of economics. I majored in economics and one of the last classes I took was “Soviet Economics and the History of Socialism” taught by one of the most conservative economist in the country Dr Paul Craig Roberts. Google his name.
What I learned is that Capitalism is the natural order based on the basic nature of man. Put people on a desert island and you have instant capitalism. Remember that the expression “he who does not work does not eat” came from the James Town Colony when the collective imposed by the company resulted in starvation. Each doing what is best for his or her own interest which raises the level of all except the shirkers. There are inequalities though because people are not all equal in ability and vision and that is where the welfare state, socialist, communist models come into play. In a nut shell what the ism’s are in their varying degrees is an attempt to regulate the economic system to get what some consider a more equitable result. That is the underlying motive of the American media/political class. They have been brainwashed into believing that big government is the solution to all problems and only government can do it because the government is composed, in their dream world, of people who are selfless and holy in motive. All others are selfish and greedy but the elite are pure and objective more concerned with the betterment of mankind than their own self interest. Only they are capable of running the government because they are not corrupted by the profit motive grounded in greed. The constitution and laws of the land do not apply to them because of their pure motives. They are above the fray and constitutions and laws are just an obstacle to the progress of mankind’s betterment under their direction. Anyone who disagrees is a disruptor thus the politics of personal destruction. Anyone who stands in the way of progress must be liquidated and the mob of reactionaries, The Tea Party types, must be controlled at all costs. This is the progressive world view. They can never fail and their model is not failing, it is just under funded due to the greed of certain reactionary people. With sufficient funding revenue there is no limit to what they can accomplish. That is why any budget agreement must contain more tax revenue. Just a little more time and money and they can work this thing out. Just give us a little more money and time and you will see. Have we let you down before?

 

[Randolph Kinney]

Consumers in U.S. Relying on Credit as Inflation Erodes Incomes

http://www.bloomberg.com/news/2011-...ng-on-credit-as-inflation-erodes-incomes.html

Rising costs of food and gasoline are leaving Americans less money to spend on discretionary items, slowing the pace of the recovery. People on the margin are putting necessities on their credit cards and this is a trend that’s very consistent with what lower-end retailers have been saying about their paycheck cycles.

 

[Randolph Kinney]

Gold Is Truth, Unchained CPI Leads To A Dog-Food Diet

http://blogs.forbes.com/greatspecul...pi-leads-to-a-dog-food-diet/?partner=yahootix

... whatever agreement emerges from the backroom dealing, it is now almost sure to include what we've labeled a "stealth default" on Social Security... Under "chained CPI," if your hamburger gets too expensive and you start buying beans instead... well, your price of protein hasn't really gone up and your cost of living is unchanged.

Obama does not want to go down in history as the president who bankrupted America.

 

[Dee Dee]

This story is all over the internet, but from what I can tell it seems some major news outlets aren't talking about it:

http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

http://www.rawstory.com/rs/2011/07/21/audit-fed-gave-16-trillion-in-emergency-loans/

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression.

The audit also found that the Fed mostly outsourced its lending operations to the very financial institutions which sparked the crisis to begin with, and that they delegated contracts largely on a no-bid basis. The GAO report recommends new policies that would eliminate such conflicts of interest, and suggests that in the future the Fed should keep better records of their emergency decision-making process.

Oh...and remember our friend the Prince of Saudi Arabia mentioned in the Fox News thread? He is the largest shareholder in Citigroup but, of course, doesn't get any special treatment or have any influence (right ).

Out of all borrowers, Citigroup received the most financial assistance from the Fed, at $2.5 trillion.