Going To Hell In A Very Stylish Handbasket.
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the Letter "J":
Ernie: All commercial flights
Bert: Everything else
Restore the Republic!
"The only thing that is necessary for evil to triumph is for men of good will to do nothing." - Edmund Burke
"The gold standard makes the money's purchasing power independent of the changing ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence." - Ludwig Von Mises
"In order to acknowledge the collapse of Soviet Communism and the failure of fascism to re-emerge as a potent political force, I ditched Orwell's oppressive totalitarian state in favour of an entertainment-fuelled nihilism in which dim-witted citizens frittered away their lives watching web TV and working at slightly overpaid jobs to buy worthless junk. Where Orwell envisioned endless rows of soldiers marching in perfect unison to the strains of the Two-Minute Hate, I saw a world where nations had been replaced by trading blocs and the objects of hatred were the immigrants in our midst." - Ted Rall, "Why Bush Is Addicted To Perpetual War"
"If stupidity got us into this mess, then why can't stupidity get us out?" -Will Rogers
"While you're out there smashing the state, don't forget to keep a smile on your lips and a song in your heart!" - Faublous Furry Freak Brothers
I find the older I get, the less easily shocked I am and the more easily outraged I become. I don't think it's so much me getting older as it is the times becoming more outrageous. - Falken
Nixon's Head: "My fellow Earthicans, we enjoy so much freedom it's almost sickening. We're free to choose which hand our sex-monitoring chip is implanted in. And if we don't want to pay our taxes, why, we're free to spend a weekend with the Pain Monster."
Pain Monster: "See you April 15th, folks!"
- Futurama,
"A Taste of Freedom"
"People should not be afraid of their governments. Governments should be afraid of their people." - V
"There is in the nature of government an impatience of control that disposes those invested with power to look with an evil eye upon all external attempts to restrain or direct its operations. This has its origin in the love of power. Representatives of the people are not superior to the people themselves." - Alexander Hamilton - Federalist Papers, 1787.
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.
The average age of the world’s great civilizations has been 200 years. These nations have progressed through this sequence: from bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependency; from dependency back again to bondage."
- attributed to Alexander Fraser Tytler "The Decline and Fall of the Athenian Republic" (1776)
"Life should not be a journey to the grave with the intention of arriving safely in an attractive and well-preserved body, but rather to skid in sideways, champagne in one hand, chocolate-covered strawberries in the other, body thoroughly used up, totally worn out and screaming WOO-HOO! ... what a ride!”
"If there is any hope for America, it lies in revolution. And if there is any hope for Revolution, it lies in getting Che Guevara to become Elvis Presley." - Phil Ochs
"Monkeys rule."
Cost of the War in Iraq
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"El diablo sabes mas por viejo que por diablo" - old Mexican proverb
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Achtung! Das machine ist nicht für gerfingerpoken und mittengraben. Ist too easen für schnappen der pringenwerk, blowenfusen, und poppencorken mit spitzensparken. Ist nicht für gewerken by dast dumkopfen - das rubbernecken sightseeren ban keepen das hands in der pocketsen, relaxen und vatchen das blinkenlights.
links:
Grandfather Economic Report
Tom Paine
The Nation
RGE Monitor
The Economist
Landover Baptist Church
The Onion
Ernie's House of Whoop Ass
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Thu, Oct 16 2008
YEAH, WE'RE ALL SOCIALISTS NOW
posted by JDoe at 10:42:45 PM |
link |
Thu, Oct 16 2008
MERCHANTS OF FINANCIAL DEATH PRINTING UP AMERICAN HYPERINFLATION
"Inflation is always and everywhere a monetary phenomenon" - Ludwig von Mises (father of Austrian economics)
It's not like the Fed has a half trillion a day of cash lying around, which means they are 'printing' it out of thin air. Our entire Gross Domestic Product is $13 trillion a year.
Holy shit. Weimar experience, here we come.
Banks borrow record $437.5 billion per day from Fed
NEW YORK (Reuters) - Financial institutions ran to their lender of last resort for record amounts of cash in the latest week, under extreme pressure from the worst global financial crisis in a generation, Federal Reserve data showed on Thursday.
Banks and dealers' overall direct borrowings from the Fed averaged a record $437.53 billion per day in the week ended October 15, topping the previous week's $420.16 billion per day.
Some analysts are concerned that banks' dependence on Fed lending might become long term and difficult to change.
[Gee. Ya think?]
"The banking system is going to become addicted to this very cheap money. Unwinding it will be very difficult," said Howard Simons, strategist with Bianco Research in Chicago.
"We have effectively allowed the central banks to disintermediate the banking system. Why would I want to borrow from you if I could do it with the central bank, because they can always print it up and say 'here'...and they are in the business now of making sure I stay in business," Simons said.
Primary credit discount window borrowings averaged a record $99.66 billion per day in the latest week, up from $75.0 billion per day the previous week.
Primary dealer and other broker dealer borrowings were $133.87 billion as of October 15, versus $122.94 billion on October 8.
"Other credit extensions", mostly reflecting loans to insurer AIG, were $82.86 billion as of October 15, versus $70.30 billion as of October 8.
The Fed's lending to banks to enable them to purchase asset-backed commercial paper from money market mutual funds was $122.76 billion as of October 15, versus $139.48 billion on October 8.
Proceeds from the U.S. Treasury's sales of Treasury bills in the Fed's supplementary financing account, which are helping to fund the Fed's support of financial institutions, were $499.13 billion as of October 15, versus $459.25 billion as of October 8.
posted by JDoe at 08:10:25 PM |
link |
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