Back to Bedford Falls & Kansas My Pretties
Received from a Naybob of Realty via bullmarket.com The Next Great Depression - We Don't Think So.
Our nattering follows...
So far, I am batting near 1,000, what are these clowns who penned this missive batting?
Currently, NOTHING outside of gold and CD's at BofA are safe.
My simian friend Monkey Boy is down a few million in the last two weeks on PG dropping from 12% down to 25% down. He's another one that DID'NT LISTEN.
We gain more believers by the day... These market bulls or bullshitters need to read me... lest they keep sounding completely uninformed...
I have already noted when Cramer acted like Kramer and called a "bottom", he's an overpaid, bald, loud, cheerleader... but acting much more civil of late.
Economic output? hours worked, their lowest since 1964 and its not a productivity miracle... Philly & NY Empire hitting multi decade lows...
This emasculated service based economy is just starting to roll over... advertised unemployment is going to 8% or higher,
bank on it because the LAYOFFS have'nt even started. Like we said yesterday, the economic winter is just beginning...
Bernanke an expert? In books and theories... like Greenspan before him, completely clueless and worthless in the real world where the rubber meets the road.
These bull's can think what they want, and like the asshole everyone has, have an opinion.. all just as valid as my cats...
I lined the cats box with a print out of their bullish op-ed, the cat refused to shit in the box, noting that it would be redundant.
I sense a backlash against the elites...
a grass roots movement for a progressive tax on the rich, those making over $250K, to defray the costs of their folly. More on this in next weeks TAX THE BASTARDS...
Jimmie Rogers sees massive inflation or stagflation coming as a result of all the money the central banks are printing and injecting.
I cannot disagree with him in current terms, although I would say that in real terms,
all assets will actually deflate, because the dollars they are based upon will be WORTHLESS.
Buying up toxic debt or mortgages and giving forebarance or forgiving the debt, WILL NOT SAVE THE SYSTEM.
It just gives an idiot who paid too much and a greedy bastard who lent too much a hall pass,
Hank Paulson's buying toxic debt plan does not address the problem... which we have stated numerous times...
I repeat, this is NOT a LIQUIDITY issue, we are awash with MORE MONEY than ever in history. Which all parties are HOARDING at the point.
This is a SOLVENCY PROBLEM and we are caught in a classic "LIQUIDITY TRAP" which is a MISNOMER.
In a "liquidity trap", the central bank can drop to ZIR or ZERO INTEREST RATE, and the system still remains frozen.
Why? People don't borrow, because they can't or decide to wait because they anticipate prices can ONLY FALL FURTHER.
The only known solution to a SOLVENCY PROBLEM is RECAPITALIZATION OF THE SYSTEM.
(This was penned two weeks ago, prior to the $3 Trillion recapitalization effort.)
Now if the government wants to DIRECT INJECT by TAKING OWNERSHIP of the FINANCIAL SYSTEM, then and only then MIGHT the recapitalization occur.
However, the current currency and bonds or existing debt will be made WORTHLESS... causing interest rates to rise and rampant stagflation.
Back to the title subject, YES, we are heading into a GREAT DEPRESSION, and it is unavoidable, but it will be different than the 1930's.
It will be a "reshuffling of the deck" for "free market capitalism" and hopefully after much pain and loss, people will learn several things:
Keep your money out of speculative assets such as commodities, derivatives based on staples and real estate.
If you can outlaw shorting financials and select stock, why not make it unlawful to profit from the above listed activities?
The days of making a living off of real estate, the stock market and the brokering thereof are OVER, and it couldn't have happened sooner nor to a better bunch.
People need to put in a days honest work to make a living, with either a deliverable service or tangible end product to show for it.
A home is sticks and bricks and a roof over your head, and should NEVER be treated as an investment or speculative nest egg for the future.
Commodities are the staples of everyday life and should NEVER be treated in a speculative or inflationary manner.
If you want to gamble or MONEYSHUFFLE, go to Vegas. As much as we disdain religion; that J. Christ character had the right idea...
turning over the tables of the marketplace vendors in digust of their worship of money. We need to do the same.
Back to the future... If you want to shorten this depression and avoid future ones its a simple three step program:
1. outlaw gambling on the staples of life, that eliminates cost of living increases... NO ONE should speculatively profit from this, EVER.
2. invest in your country's future
3. and invest in your communities future... by doing the following...
A. Go back to Bedford Falls and instead of giving your hard earned money to OLD MAN POTTER...
to chase yield in "emerging markets", junk bonds and profitering on labor at the margin through "globalization"....
in other places with people who could give a damm about us, while he emasculates our domestic economy and creates a nation of POTTERVILLES inhabited by uneducated imbeciles...
put half of your money into the RE REGULATED BAILEY Thrift and Loan which can ONLY make LOCAL HOME & DOMESTIC BUSINESS LOANS.
You will find this locally kept and controlled money, and the local independance & security it generates as interest, to be the greatest gift of all.
No longer will your community be at the mercy of the traitorous whores on the hill and their financial and foreign masters.
B. Then Fly, Fly Fly... you are your dog Todo too!!! back to Kansas with the Nattering Wizard of OZ and find Auntie Em...
by putting the other half of your money into the RESTRUCTURED and RE-REGULATED muni, county, state and US Treasury Bond markets.
This money will be invested in those projects that benefit ONLY our public infrastructure and the future of our country.
No pork barrels, no earmarks, no cronyism and hopefully no longer at the mercy of FOREIGN and TREASONOUS multi national interests.
In the end, after your long trip to those far away places, searching for greener grass,
you will find that what you were looking for was in your very own backyard, the whole time.
And remember, if you want the truth and can handle the truth, just read me daily, take the best and leave the rest,
because these hook in mouth media idiots are doing you a disservice by filling your ear with "bull" crap.
Regards,
The Nattering Naybob
Our nattering follows...
So far, I am batting near 1,000, what are these clowns who penned this missive batting?
Currently, NOTHING outside of gold and CD's at BofA are safe.
My simian friend Monkey Boy is down a few million in the last two weeks on PG dropping from 12% down to 25% down. He's another one that DID'NT LISTEN.
We gain more believers by the day... These market bulls or bullshitters need to read me... lest they keep sounding completely uninformed...
I have already noted when Cramer acted like Kramer and called a "bottom", he's an overpaid, bald, loud, cheerleader... but acting much more civil of late.
Economic output? hours worked, their lowest since 1964 and its not a productivity miracle... Philly & NY Empire hitting multi decade lows...
This emasculated service based economy is just starting to roll over... advertised unemployment is going to 8% or higher,
bank on it because the LAYOFFS have'nt even started. Like we said yesterday, the economic winter is just beginning...
Bernanke an expert? In books and theories... like Greenspan before him, completely clueless and worthless in the real world where the rubber meets the road.
These bull's can think what they want, and like the asshole everyone has, have an opinion.. all just as valid as my cats...
I lined the cats box with a print out of their bullish op-ed, the cat refused to shit in the box, noting that it would be redundant.
I sense a backlash against the elites...
a grass roots movement for a progressive tax on the rich, those making over $250K, to defray the costs of their folly. More on this in next weeks TAX THE BASTARDS...
Jimmie Rogers sees massive inflation or stagflation coming as a result of all the money the central banks are printing and injecting.
I cannot disagree with him in current terms, although I would say that in real terms,
all assets will actually deflate, because the dollars they are based upon will be WORTHLESS.
Buying up toxic debt or mortgages and giving forebarance or forgiving the debt, WILL NOT SAVE THE SYSTEM.
It just gives an idiot who paid too much and a greedy bastard who lent too much a hall pass,
Hank Paulson's buying toxic debt plan does not address the problem... which we have stated numerous times...
I repeat, this is NOT a LIQUIDITY issue, we are awash with MORE MONEY than ever in history. Which all parties are HOARDING at the point.
This is a SOLVENCY PROBLEM and we are caught in a classic "LIQUIDITY TRAP" which is a MISNOMER.
In a "liquidity trap", the central bank can drop to ZIR or ZERO INTEREST RATE, and the system still remains frozen.
Why? People don't borrow, because they can't or decide to wait because they anticipate prices can ONLY FALL FURTHER.
The only known solution to a SOLVENCY PROBLEM is RECAPITALIZATION OF THE SYSTEM.
(This was penned two weeks ago, prior to the $3 Trillion recapitalization effort.)
Now if the government wants to DIRECT INJECT by TAKING OWNERSHIP of the FINANCIAL SYSTEM, then and only then MIGHT the recapitalization occur.
However, the current currency and bonds or existing debt will be made WORTHLESS... causing interest rates to rise and rampant stagflation.
Back to the title subject, YES, we are heading into a GREAT DEPRESSION, and it is unavoidable, but it will be different than the 1930's.
It will be a "reshuffling of the deck" for "free market capitalism" and hopefully after much pain and loss, people will learn several things:
Keep your money out of speculative assets such as commodities, derivatives based on staples and real estate.
If you can outlaw shorting financials and select stock, why not make it unlawful to profit from the above listed activities?
The days of making a living off of real estate, the stock market and the brokering thereof are OVER, and it couldn't have happened sooner nor to a better bunch.
People need to put in a days honest work to make a living, with either a deliverable service or tangible end product to show for it.
A home is sticks and bricks and a roof over your head, and should NEVER be treated as an investment or speculative nest egg for the future.
Commodities are the staples of everyday life and should NEVER be treated in a speculative or inflationary manner.
If you want to gamble or MONEYSHUFFLE, go to Vegas. As much as we disdain religion; that J. Christ character had the right idea...
turning over the tables of the marketplace vendors in digust of their worship of money. We need to do the same.
Back to the future... If you want to shorten this depression and avoid future ones its a simple three step program:
1. outlaw gambling on the staples of life, that eliminates cost of living increases... NO ONE should speculatively profit from this, EVER.
2. invest in your country's future
3. and invest in your communities future... by doing the following...
A. Go back to Bedford Falls and instead of giving your hard earned money to OLD MAN POTTER...
to chase yield in "emerging markets", junk bonds and profitering on labor at the margin through "globalization"....
in other places with people who could give a damm about us, while he emasculates our domestic economy and creates a nation of POTTERVILLES inhabited by uneducated imbeciles...
put half of your money into the RE REGULATED BAILEY Thrift and Loan which can ONLY make LOCAL HOME & DOMESTIC BUSINESS LOANS.
You will find this locally kept and controlled money, and the local independance & security it generates as interest, to be the greatest gift of all.
No longer will your community be at the mercy of the traitorous whores on the hill and their financial and foreign masters.
B. Then Fly, Fly Fly... you are your dog Todo too!!! back to Kansas with the Nattering Wizard of OZ and find Auntie Em...
by putting the other half of your money into the RESTRUCTURED and RE-REGULATED muni, county, state and US Treasury Bond markets.
This money will be invested in those projects that benefit ONLY our public infrastructure and the future of our country.
No pork barrels, no earmarks, no cronyism and hopefully no longer at the mercy of FOREIGN and TREASONOUS multi national interests.
In the end, after your long trip to those far away places, searching for greener grass,
you will find that what you were looking for was in your very own backyard, the whole time.
And remember, if you want the truth and can handle the truth, just read me daily, take the best and leave the rest,
because these hook in mouth media idiots are doing you a disservice by filling your ear with "bull" crap.
Regards,
The Nattering Naybob
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