Posted on 04/10/2011 6:30:38 AM PDT by MontaniSemperLiberi
When does the meltup switch into a full-fledged meltdown of the global economy? In spite of all warning signs that the Fed has ignored over the past few months, the switchover is now transmitting at such a rapid pace that it could happen in either one great shock or in a series. In my view, the 320 level on the CRB was more than enough to trigger the switch, and it corresponds with the first riots in Tunisia and then Egypt. If the Fed continues its purchases, we can calculate that each new $100 billion of Treasury purchased will add about 5 percent to the commodity index and $7 to oil.
Another ping
“Our budget is out of control NOW. Not in 2012. Spending needs to be reduced NOW.”
And yet the inside the beltway crowd doesn’t see the need for any urgency on the matter. Nor do the GOP party bosses see the need to abandon ‘business as usual’ either.
God help us.
DC, on spending: “We have a ten year plan to fix things, so we can get by with doing nothing this year”.
DC, on drilling domestically: “We won’t see the benefits for ten years, so there’s no sense starting now”.
Don’t worry! I bet someone is working on a plan that will save us millions of dollars!
From the Drudge Report today:
“US Debt Jumped $54 Billion in Week Preceding Deal to Cut $38 Billion...”
http://www.cnsnews.c...-days-preceding
Yes.
At least one more zero needs to be added to the, quote, “cuts” for them to start to have any effect on the actual debt. I’ve told my reps that we need to ruthlessly adopt a scorched earth retreat from everything that got us 14 tillion in debt.
If we don’t the goose that lays golden eggs will not only not be able to lay any more golden eggs, it will not even be able to poop.
I don’t believe that scorched earth will even be noticeable to most working Americans. It will feel like scorched earth to the millions of freeloaders that will no longer be able to suck at the democratic bosom, but that is exactly what they need in my opinion. Get them off their asses and make them become productive citizens. I don’t think the kind of budget cuts we need to get us out of this mess will have much effect on my life at all.
GOP Party bosses and Dem Party bosses must be colluding to keep current levels of spending.
Neither side will cut the other side’s spending programs.
So True and its not going to stop. This train is too far down the tracks. Its going to crash and Bernanke and Co know it. They are not “that” stupid. They are just trying to stretch the inevitiable out as long as possible. We have been preparing for about a year to deal with what is coming. I feel sorry for the people who don’t have a clue.
sfl
Parasite = looters
Host = producers
We need to cut ALL programs that ONLY benefit democrats and their choice victim groups.
Looks like budget cuts are coming whether folks like it or not. The Congress had a chance to maintain our financial system and credibility but instead, this is coming in July. If QE3 follows QE2, the referenced article says we can expect month over month inflation to be approximately 5% to 10% or 100% per year... can anyone say "Currency Crisis?" or "Weimar Republic?"
It's even better than that. The One's senior adviser Plouffe was on Meet the Press this morning. He said Obamacare would save a trillion dollars.
He said it with a straight face, David Gregory did not challenge him, so it must be true.
As long as the GOP promises to be a toothless dog, they will have their Royal Feudal Living kept in perpetuity!
The GOP is just the DNC's shadow feint to keep the masses from booting ALL OF THEM OUT!
As Michelle Bachmann said, our side should have been pushing for the big dollars now instead of waiting because 2012 may be too late.
Why aren’t the budget cutters addressing the real problem - the Federal Reserve and their crony relationship with the same banksters that put the economy in the dumpster.
The Greenspan-Bernanke Fed poured gasoline into the economy to create these bubbles and now the Bernanke Fed is doing the same and in the process they are forcing individual Americans to either put their capital in the casino of multi-national banks and corporations, or under a mattress. The WS capital goes all over the world instead of being invested in the local economy through local banks using deposits from savers. Their BS story is that investing in Wall Street is investing in the USA, when that capital goes all over the world.
The Fed does not want Americans buying American debt and paid a reasonable return. They want Americans making the financiers rich and our debt going to other nations.
Agreed and we have a surplus of individuals, politicians, corporations, and banks in both of those categories. I put much of bankster gang in the first category because they produce nothing except for their own casino club, and are profiting and on our dole through our declining currency thanks to the Federal Reserve.
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