Posted on 10/16/2010 9:43:14 AM PDT by Para-Ord.45
If you think there is chaos in the housing market now, just wait.
...Retirees tomorrow will officially get the bad news: no cost of living adjustment from Social Security again this year.
...THIS YEARS CONSUMER`S PRICES ARE BEING COMPARED WITH `08s.
...Even as the Fed is rumored to be thisclose to flooding the economy with more money, it suddenly did something called a "re verse repo."
... JPMorgan Chase managed to produce excellent earnings through accounting trickery
(Excerpt) Read more at nypost.com ...
Pretty much.
Just another far-left reporter espousing free houses for ‘deat beats’.
Crudele is more of a right-wing head-for-the-hills sort of reporter. He has been predicting the entire collapse of everything for decades. Every once in a while, something does collapse, and all these guys say ‘See, I told you so!’
As things are now ‘heading for the hills’ is sounding better and better.
Not manipulation in the immediate sense.
The formula for the CPI has been “refined” several times since Carter was in office. Each time lowering the results.
For example, using the CPI formula that was the official one when Carter was in office, the current inflation rate would be in the neighborhood of 13%.
The government’s cure for inflation since the 70s has been to make it officially invisible. If we say it isn’t there, doesn’t exist.
The most corrupt private corporation out there doesn’t come close to the lying corruption of the federal government.
Hmm, I am not sure what this means, “Instead of adding money like QE2 would, a reverse repo takes money out of the banking system and the economy.”
Not sure how this was done, but if he is correct, is the FED trying to cause a lack of liquidity? Can you say 2008?
Am I missing something?
NY Fed Conducts 1st Reverse Repo Test With Expanded Counterparties
http://online.wsj.com/article/BT-CO-20101013-710562.html
So have I. I argued with professors in college in the early 70s about SS, entitlements and debt growth.
Simple math shows the inevitable. What has been impossible to predict is when. I expected it before now, but have been surprised by the continuing ingenuity of government and financial markets in devising new accounting tricks to mask reality. It is certain that we are much, much closer now than just a coupe of years ago.
My daughter was explaining a little accounting trick companies use to lower losses.
Change the fiscal year. Suppose it is Sept to Oct, then you change it to Jan to Dec. Nov & Dec of that first year of change just sort of fall off the radar. They become zero months in the accounting reporting.
Lo and behold, 12 months of losses miraculously becomes 10 months of losses.
I knew it back in the 70’s too. But, since I was just a “housewife”, I had no creds with family and friends.
I thought the collapse would come much earlier too. I couldn’t understand how it could go on... but then, I never thought people could be so easily fooled, and so dishonest.
The demise of our values, our character, and our economy is a sad thing to witness.
The Middle Class is getting ready to join the deadbeats to demand the paperwork. My mortgage is close to being paid down and I could write a check to pay it all off. This situation is so screwed up that I could write a check on Monday to pay it off but the title could be clouded.
I am getting to the point of wanting to jam it down the throat of the bank.
Blame idiots who watch TV because ALL (including Fox/Saudia) of TV supports Obama, the left and Islam. Stupid sheep want bread and circuses and all this s**t to happen because ball games and other inane crap is more important.
Perception is reality. Up to now that perception has been it can’t happen.
I think that the ability of the “system” to maintain this perception is breaking down. Some of that may be due to changes in mass communication and flow of information.
IMO, in accounting math, we collapsed some time ago. Our financial system is like a zombie still walking around because it doesn’t know it is dead.
I've heard this, and find it plausible, but haven't seen solid proof of it. Do you have any?
So, to sum it up, this headline was written by someone with no knowledge of the subject matter of the story. It is indistinguishable from a headline which read: "Banks will have banks by the short hairs". They might have said "Borrowers will have banks by the short hairs" or "Mortgagor's will have the banks by he short hairs", but this headline is just plain stupid.
If Obama plan for socialism took a long way around but ended up with the results he wanted would he not have won?.
25 million illegals deliberately allowed to flood into middle and lower income neighborhoods driving up the cost of housing and living.
50,000 Illegal Alien Gangsters, 500,000 Gangsters at minimum spending their days destroying.
Average American buys a home to live in.. to raise their kids in. They do not live forever as a Corporation and the time to raise their children is finite.
So they they buy in the “affordable “ neighborhood. One day on his way home Joe Sixpack stops at the corner 7-11. The local pimp offers to “hook him up”with some “Fresh Meat”. He ignores the offer and manages not to shoot the SOB making it.. (knowing of course the local police will arrest him in a heartbeat should he do the right think and kill the human sack of dung.)
He heads home only to find his wife's lifeless body tied
to the bed raped to death.. His 12 year old daughter missing. His son? don't worry he was Murdered 4 years ago on his way home one evening after refusing to join the local gang.
You can blame average Americans for this disaster all you want.. But it is a lie and we know it.
401k Plans used to prop up the month to month operating expenses of Corporations while their CEOs and Board Members looted the Company's value..
Home values gutted by corrupt business practices...
The Dollar “Floated” so that insiders could buy a $100k option (never even paying that money) then making millions when the dollar predictably lost 40% of it's value against the EURO..
Your 401K investment managers got in on that right? No? Big surprise.
The organized and deliberate theft of labor and savings of three generations of Americans..
And you blame average Americans..
Just another Corporate America apologist trying to misdirect attention from Price Fixing and RICO Violations by Banksters, Mortgage Brokerage CEOs and Officers as they ran off with millions in bonuse?.
Just another apologist for a corrupt elite.. Elected, Appointed and Corporate, Republi-Con and Demon-Crat alike who knowingly and willingly conspired to steal America's wealth, wreck America's middle class and Destroy the American Dream?
Just asking.... W
So, the manipulation of the CPI is the reason the CPI only went up “ 0.2% “ for September !?”
Meanwhile, NObama is giving FEDERAL employees a 1.4 % increase in their salaries!!!
Change the fiscal year. Suppose it is Sept to Oct, then you change it to Jan to Dec. Nov & Dec of that first year of change just sort of fall off the radar. They become zero months in the accounting reporting.”
Last I knew, once you choose an accounting year, you cannot change it.
There used to be many more ‘fiscal year’ accounting periods.
I was told by a CPA I work with that only calendar year accounting periods are now allowed for new companies.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.