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Author Topic: Signs of the Greater Depression  (Read 109737 times)

mutti

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Re: Signs of the Greater Depression
« Reply #510 on: November 30, 2012, 02:25:12 pm »

Quote
Obama's negotiators also sought the ability to raise the nation's borrowing limit unilaterally.

http://www.reuters.com/article/2012/11/30/us-usa-fiscal-offer-idUSBRE8AT02C20121130

Who needs that pesky Congress.......
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“Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law' because law is often but the tyrant's will, and always so when it violates the rights of the individual.”  Jefferson

"The universe never did make sense; I suspect it was built on government contract." Heinlein

MamaLiberty

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Re: Signs of the Greater Depression
« Reply #511 on: November 30, 2012, 03:25:44 pm »


Who needs that pesky Congress.......

They have the mechanism to eliminate the problem, of course. They've just not had the will or the guts to even attempt it in a very long time.
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slidemansailor

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Re: Signs of the Greater Depression
« Reply #512 on: November 30, 2012, 11:46:34 pm »


Who needs that pesky Congress.......

They have the mechanism to eliminate the problem, of course. They've just not had the will or the guts to even attempt it in a very long time.

The same could be said of we the people.

The good news is that I think the time is coming... and we are in that unique position of getting to see and probably participate in the show.
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mutti

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Re: Signs of the Greater Depression
« Reply #513 on: January 20, 2013, 09:02:23 pm »

US taps pension fund to avoid passing debt limit : http://money.msn.com/business-news/article.aspx?feed=AP&date=20130115&id=15997915

Quote
Treasury Secretary Timothy Geithner says the government has begun borrowing from the federal employee pension fund to keep operating without surpassing its debt limit.

This is 5 days old - where is the "Oh Poop" moment from FedPensionsPeeps???
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“Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law' because law is often but the tyrant's will, and always so when it violates the rights of the individual.”  Jefferson

"The universe never did make sense; I suspect it was built on government contract." Heinlein

Wyomiles

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Re: Signs of the Greater Depression
« Reply #514 on: January 22, 2013, 03:16:28 pm »

401K's next!
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knobster

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Re: Signs of the Greater Depression
« Reply #515 on: January 23, 2013, 07:15:34 am »

Quote
The government reached its borrowing limit on Dec. 31, but began using bookkeeping maneuvers to keep from surpassing it.

When private companies do it, it's called 'cooking the books' and people go to jail.  When the gov't does it, it is business as usual.
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mutti

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Re: Signs of the Greater Depression
« Reply #516 on: February 12, 2013, 11:16:32 am »

Northern Virgina : SB 1313 Has passed Senate - moved to House : Allows Tax increase of 1% without voter approval...

http://www.washingtonpost.com/blogs/the-state-of-nova/post/bill-to-allow-nova-counties-to-impose-one-percent-income-tax-without-public-vote-passes-va-senate/2013/02/12/282dcf04-74a1-11e2-8f84-3e4b513b1a13_blog.html
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This income taxing authority actually already exists in Virginia law, with one important condition: It must be approved by a public referendum. The new law would eliminate that referendum, allowing a new income tax to be imposed simply by the local city council or board of supervisors passing a new ordinance.
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“Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law' because law is often but the tyrant's will, and always so when it violates the rights of the individual.”  Jefferson

"The universe never did make sense; I suspect it was built on government contract." Heinlein

Moonbeam

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Re: Signs of the Greater Depression
« Reply #517 on: June 24, 2014, 08:38:27 am »

The content inside the food package is shrinking - though the packaging isn't changing. Hmm... like we wouldn't notice?!? In some ways I wish I had photo proof, but I've had bigger things to concentrate on so...
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Rarick

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Re: Signs of the Greater Depression
« Reply #518 on: June 24, 2014, 09:54:55 am »

US taps pension fund to avoid passing debt limit : http://money.msn.com/business-news/article.aspx?feed=AP&date=20130115&id=15997915

Quote
Treasury Secretary Timothy Geithner says the government has begun borrowing from the federal employee pension fund to keep operating without surpassing its debt limit.

This is 5 days old - where is the "Oh Poop" moment from FedPensionsPeeps???

Article is gone.
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........Duct tape is like the force, it has a light side, a darkside and holds the universe together.  It is theoretically reinforced with strings too.  (The dome has a darkside, lightside and strings of rebar for reinforcement too!)
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Most of the time news is about the same old violations of the first principles of consent and golden rule with a dash of force thrown in........ with just enough duct tape to be believable.

DiabloLoco

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Re: Signs of the Greater Depression
« Reply #519 on: November 20, 2015, 03:33:42 pm »

The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low

http://theeconomiccollapseblog.com/archives/the-baltic-dry-shipping-index-just-collapsed-to-an-all-time-record-low

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I was absolutely stunned to learn that the Baltic Dry Shipping Index had plummeted to a new all-time record low of 504 at one point on Thursday.  I have written a number of articles lately about the dramatic slowdown in global trade, but I didn’t realize that things had gotten quite this bad already.  Not even during the darkest moments of the last financial crisis did the Baltic Dry Shipping Index drop this low.  Something doesn’t seem to be adding up, because the mainstream media keeps telling us that the global economy is doing just fine.  In fact, the Federal Reserve is so confident in our “economic recovery” that they are getting ready to raise interest rates.  Of course the truth is that there is no “economic recovery” on the horizon.

Overall, the Baltic Dry Index is down more than 60 percent over the past 12 months.  Global demand for shipping is absolutely collapsing, and yet very few “experts” seem alarmed by this.

 :popcorn:

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Silver

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Re: Signs of the Greater Depression
« Reply #520 on: November 23, 2015, 09:15:12 am »

This is the part of the tsunami where the water pulls far back from the beach, and the unwary go out to pick up fish flopping on the newly exposed sand.

The Baltic index collapsing in late summer and autumn is extremely ominous.  This is typically the time of peak shipments, at least to the US, for the holiday shopping orgy.

We saw a fall collapse in shipping rates once before - in 2008.

What we are seeing is the end of the massive tide of money-from-nothing that has been spent on capital equipment, fueling the biggest commodity boom in human history. 

Austrian economics predicts that the boom/bust cycle hits hardest in those capital-intensive industries that are far up the chain of production.  If you want to build cars you need fine rolled steel and stamping mills.  Fine rolled steel requires specialized mills to process ingots into rolls.  Those mills require massive investments in the heaviest equipment.  Mines are required, smelters, heavy trucks, crushers, rail cars, etc.

None of these are consumer items, but all are absolutely necessary to make consumer items.  To make a car today you must rely on investments and facilities built 10 or even 20 years ago.  The people who provide those items are early warning of impending collapse.

Caterpillar (CAT) reported a 16% decline in worldwide retail sales last week.  CAT's sales have fallen for 35 straight months; they fell for 19 months after the crisis of 2008, and that was a record at the time. Caterpillar makes the heavy equipment used to build mines, roads, railroads, and construction of all kinds.  CAT's US sales fell 8%, but China was down 28%, Latin America down 36%.

Building mines, railroads, steel mills, plastic production, copper smelters, all of these are extremely resource and capital intensive.  Once built these facilities can last for decades, and wise investments can yield handsome profits.   But the risks are enormous, because the entrepreneur must base their decisions on what they think consumers will need in 10 years or later.

The early 21st century saw unprecedented demand for iron ore, copper, zinc, nickel, aluminum, coal, and oil.  This was driven by massive spending on industrial infrastructure for mining, manufacturing, transportation and distribution—–along with related public facilities such as roads, bridges, ports, rails and airports—- in China, Africa, South America, and other "emerging markets."

But the signals that consumers actually wanted all the goods that could be produced by these facilities were utterly false.  The signals were artifacts of the insane zero interest rate policies of the fed and other central banks.

There were increases in demand for consumer goods such as appliances and autos, but the build-out of production capacity was many times larger.  China has increased its steel production  a factor of 8 over the past 15 years, to over 800 million tons a year.  But the newly constructed facilities are not fully utilized; annual capacity is well over 1100 million tons.  Actual demand is probably closer to 500 million tons a year; the 300 million tons above that produced last year went mostly to building new steel mills, bridges, and railroads.  Now that is finished, and the Baltic Dry Goods Index is collapsing because there is no longer a need for massive shipments of ore, oil, cement, and other raw materials.

There are similar malinvestments in oil fields, copper mines, cement kilns, railroads, ships, etc.  Because these facilities last for decades, the excess capacity will last for years to come.  Prices will stay low right up to the point where the central banks finally manage to ignite a ripping hyperinflation. 

Peace,

Silver
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DiabloLoco

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Re: Signs of the Greater Depression
« Reply #521 on: November 23, 2015, 02:36:35 pm »

Great post Silver. Thanks for chiming in. :thumbsup:
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knobster

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Re: Signs of the Greater Depression
« Reply #522 on: November 24, 2015, 06:40:25 am »

Caterpillar (CAT) reported a 16% decline in worldwide retail sales last week.  CAT's sales have fallen for 35 straight months; they fell for 19 months after the crisis of 2008, and that was a record at the time. Caterpillar makes the heavy equipment used to build mines, roads, railroads, and construction of all kinds.  CAT's US sales fell 8%, but China was down 28%, Latin America down 36%.

I have a good friend who is a parts manager at CAT.  She said the overall mood there is very somber.  A few years ago CAT implemented a 3-week furlough every summer to avoid layoffs - didn't help though, still plenty of folks being let go.  Voluntary early retirement packages are always available.  She just told me a week ago that there was a CAT buyout.  No details other than those two words.  She used to have a crew of a couple dozen folks.  She is down to four.

Interesting times we live in.
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DiabloLoco

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Re: Signs of the Greater Depression
« Reply #523 on: November 24, 2015, 10:10:10 am »

Caterpillar (CAT) reported a 16% decline in worldwide retail sales last week.  CAT's sales have fallen for 35 straight months; they fell for 19 months after the crisis of 2008, and that was a record at the time. Caterpillar makes the heavy equipment used to build mines, roads, railroads, and construction of all kinds.  CAT's US sales fell 8%, but China was down 28%, Latin America down 36%.

I have a good friend who is a parts manager at CAT.  She said the overall mood there is very somber.  A few years ago CAT implemented a 3-week furlough every summer to avoid layoffs - didn't help though, still plenty of folks being let go.  Voluntary early retirement packages are always available.  She just told me a week ago that there was a CAT buyout.  No details other than those two words.  She used to have a crew of a couple dozen folks.  She is down to four.

Interesting times we live in.
But, but, but, the MSM says that everything is hunky-dory and that things are great all over! ;p

Seriously though, you hear all this talk about the "high value of the dollar". That's just plain BS. It's valued high compared to other currencies that are doing crappy too. Big deal! It's a race to the bottom. When it finally hits the bottom, the shock waves will reverberate for generations. WW3 is being fought right now, just not with tanks, planes, and ships. It's economic warfare. Being waged against the plebes by TPTB. All you can do to survive long-term, is distance yourself from their rigged system in any way that you can.

EDIT

I just saw this article over at coinflation and thought that it really exemplified the point that I was trying to make with my post.

How is it possible that the dollar is rising and falling at the same time?

https://www.sovereignman.com/trends/how-is-it-possible-that-the-dollar-is-rising-and-falling-at-the-same-time-18264/

Quote
In astronomy, there’s an important concept known as ‘parallax’, which refers to how a star’s position appears to change based on the position and motion of the observer.

The earth is constantly moving along its orbit around the sun. And as this happens, the position of a star in the night’s sky will appear to change slowly, gradually over time.

There’s a great view of the Southern Cross constellation from our farms in the south of Chile. But as the seasons change, the constellation appears to move very slightly, even though the stars themselves haven’t budged an inch.

Small children discover an earthly example of parallax when they find that the position of an object appears to change slightly as they alternate closing their left and right eyes.

The idea is that the exact same object can appear to be different, even though neither you nor the object has moved an inch.


Or you can look at the US.

If you close your left eye, the US dollar is strong. The labor market has recovered to its pre-crisis levels. The US is affluent and free.

But if you close your right eye, the dollar is astonishingly overvalued based on nearly every objective metric that exists, and the Federal Reserve is nearly insolvent on a mark-to-market basis.

The labor market has been completely hollowed out as the US work force now constitutes the lowest percentage of the American population since Jimmy Carter was President.

The US government itself is flat broke, based on its own financial statements.

Nearly every major program and institution, from Social Security to the Pension Benefit Guarantee Corporation, to the FDIC, is either insolvent or precariously underfunded.

The government cranks out 75,000+ pages of new laws, rules, regulations each year, many of which carry severe criminal penalties and govern the most private details of our lives, including how we are allowed to raise our own children and what we can/cannot put in our own bodies.

Police forces have turned into federally-funded paramilitary units, and a grand surveillance state now dominates over the citizens.

Civil Asset Forfeiture, the deliberate theft of citizens’ private property by the government with absolutely zero due process, is on an alarming rise.

And many of the basic freedoms guaranteed by the Constitution have become watered-down aphorisms rather than inalienable rights.

Again, two completely opposite views that are both accurate. And there are more examples everywhere.


That’s our world. It is simultaneously full of risk AND reward. The important thing is to look with BOTH eyes.

Know the risks. Be guided by objective data to understand them, and take action to minimize them.

But don’t be overwhelmed by negativity. Don’t panic. Instead, take simple, sensible steps to ensure your livelihood doesn’t become a victim to someone else’s stupidity.

Only then, with both eyes open, will you be able to see all the incredible opportunity that awaits, and be able to seize it from a position of strength.

Our goal is simple: To help you achieve personal liberty and financial prosperity no matter what happens.
« Last Edit: November 24, 2015, 10:24:34 am by DiabloLoco »
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slidemansailor

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Re: Signs of the Greater Depression
« Reply #524 on: November 24, 2015, 10:48:34 am »

DL, the sovereign man explanation is excellent. Thank you for sharing it.

I often use the DOWN escalator as my simile. It appears that prices and such are going up when the declining value of over-printed dollars is what we are actually experiencing.

His essay goes a lot further, covering the rise of The Spectator State with all its ramifications.
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