Vote! Of course, it’s a waste of time. But you have to in order to keep up appearances. Wouldn’t want the working stiffs to get any ideas.
However, the governor said it was his way or the highway. In doing so, Governor Walker betrayed Wisconsin’s proud progressive values.
Soon the streets were filled with teachers, bus drivers, toll collectors, janitors, cafeteria workers, fire fighters and police, all public employees, marching in solidarity. They knew what kind of stinky cheese Governor Walker was peddling: union busting.
Claiming Wisconsin is in dire straits, the likes never seen before, Governor Chicken Little was manufacturing a crisis to end collective bargaining. Actually the sky was not falling.
This past January the State’s own non-partisan Legislative Fiscal Bureau estimated that Wisconsin will end the 2009-2011 budget biennium with a budget surplus of $121.4 million.
There would have been more in the state coffers if earlier this year, the Governor and the Republican Legislature hadn’t seen fit to give tax breaks to businesses and the wealthy to the tune of $117.2 million.
No end in sight for now. Definitely needs some more stimulus money. Not that we’ll get it until the Repubs get out of power again. But who knows. Once the shit hits the fan they’ll probably be begging for spending to save their owners.
P.s. did you notice none of their constituencies are being cut. Told you so. Not a nickels worth of difference between the parties. None!
This is all the more challenging because the foreshortening of history cuts both ways; it makes small but sudden events look more important than they are, and it also helps hide slow but massive shifts that will play a much greater role in shaping the future. Recent increases in the price of oil, for example, kicked off a flurry of predictions suggesting that hyperinflation and the sudden collapse of industrial society are right around the corner; identical predictions were made the last time oil prices spiked, the time before that, and the time before that, too, so the traditional grain of salt may be worth adding to them this time around. (We’ll most likely get hyperinflation in the US, granted, but my guess is that that will come further down the road.) Look at all these price spikes and notice that the peaks and troughs have both tended gradually upwards, on the other hand, and you may just catch sight of the signal hidden in all that noise – the fact that providing industrial civilization with its most important fuel is loading a greater burden on the world’s economies with every year that passes.
The Repubs plan on cutting the budget from 1600 billion to 1500 billion. No wait! I mean the budget DEFICIT from 1600 billion a year to 1500 billion a year.
Oba mama and his socialist sycophants are sure that the Repubs are mean. Expect nothing to change and you wont be disappointed.
Because when all is said and done, nothing will change!
When the biggest spender in America’s history says it’s time for government to live within its means, it is reasonable to ask: Who does President Obama think he’s kidding? Mr. Obama‘s new budget is the latest installment in a series of proposals featuring flawed estimates based on unrealistic economic assumptions. It should be considered dead on arrival.
Mr. Obama’s latest public-relations ploy tries to portray him as some kind of deficit hawk. The reality is the savings of $1 trillion over 10 years he’s touting wouldn’t be necessary had he not treated the federal budget like a teenager who swiped his parents’ credit card. To put his alleged savings in perspective, $1 trillion is a little more saving over a decade than the government blew on a stimulus program that produced no measurable results. From another angle, with $100 billion of deficit reduction per year, Mr. Obama could pay down the current fiscal year’s deficit in 16-20 years, assuming he balanced all future budgets, starting with next year’s. Good luck.
Even after 10 years, no conclusions or arrests on the anthrax attack. Of course, it came from a government lab but under who’s direction or orders? Was it a rogue element or was somebody under top level command?
A National Research Council committee on Tuesday questioned the scientific approaches and conclusions in the FBI‘s investigation of the 2001 anthrax mailings, saying that while the bureau’s scientific data provided leads to the deadly chemical’s origin, it could not rule out other possible sources.
The committee‘s lengthy report said it was “not possible to reach a definitive conclusion about the origins of the anthrax in letters mailed to New York City and Washington, D.C.,” which the FBI said led directly to Bruce Ivins. The 52-year-old federal researcher committed suicide in 2008 when the bureau began to focus on him as the suspect in the attacks, which left five people dead.
The FBI had identified Ivins, a vaccine researcher at the U.S. Army Medical Research Institute for Infectious Diseases (USAMRIID) in Frederick, Md., as the killer, based on a match investigators made of the spores in his lab to ones discovered in the envelopes.
Cut us a big check and we’ll pay off our debts to the banks and then buy new shit. No really! This solves most of the immediate problem of broke dicks struggling to get back on their feet and spending the economy back to boom.
Every time you give banks around the world a bailout they pay it to their owners and the politicians to cover their losses and there is little to make new loans which prolongs the start of a new boom.
Remember, a fiat system goes from boom to bust and back again. You would have to go back to a gold standard to stop it. And as long as the elites are in charge that aint going to happen. And until they have this power taken away we ain’t going to recover.
The next bust will be in your backyard and taking no prisoners when 100 million or so retirees in America start demanding their checks!
And we will get them!
The U.S.A can print all the money they need but it wont buy shit because of the ensuing inflation used to pay off 65 trillion or so in old debts. It remains to be seen if a new political paradigm will show up and make a difference in the way the Empire operates.
I’m betting it will come over the elites dead bodies. Don’t scoff as we see most of the Empire is falling apart as an over whelming debt load makes the system unsustainable.
You want to create organic inflation, driven by consumers with plenty of cash chasing goods and services? Here’s how:
1. Reinstate the policy of paying 5.25% on all savings, effectively transferring wealth back from banks to citizens. If the banks can’t manage to do so and remain solvent, then close them down and liquidiate their assets and liabilities. Others will rise to take their places.
2. Print $5 trillion in cash, not credit, and liquidate all consumer debt and a couple trillion in mortgage debt for those who are not hopelessly underwater.
3. Aggressively cram down underwater mortgages onto the banks, forcing them to liquidate all their bad debt. Yes, this will reveal them as insolvent, but the goal here is not to save the financial Elites’ impaired assets, it’s to reset the housing market by clearing off all the impaired debt in the system.
By resetting the consumer balance sheet and paying interest, then you would be putting cash into households which could be spent in the real economy.
Is this a wise or prudent policy? I don’t know. The goal here was not to assess that question, it was simply to follow up on the goal of creating inflation. If you want organic inflation, you have to divert the national income from the banks to the citizenry, and you have to reset the housing market.
The Fed’s policies cannot create organic inflation, because all the Fed is doing is transferring wealth to the nation’s Elites. Their spending on luxuries and fine dining are not broadbased enough to generate organic inflation in the entire economy.
Borrowing money does not drive organic inflation: higher incomes and free cash drive organic inflation. If you want inflation, then you have to increase the incomes and assets of 60% of the households, not just the top sliver who own most of the financial assets.
We concur that the elites are “birds of feather” and pretty much are on the same wavelength. Normally, they disagree only on implementation of policy when it comes to ruling the world.
Unfortunately, the Empire’s enemies will have to kill you and I to get to them and it’s probably safe to say it’s only a matter of time.
Richard Maybury: Yes but I might not agree as strongly as others. The way I see it is birds of a feather flock together and rich people are always going to hang around with rich people and they are going to do deals with each other. They are going to try to manipulate events to their own advantage. As far as I know, it’s always been so. To what extent are they successful at manipulating events to their advantage? I think in some cases very successful and other cases they fall flat on their faces. The way I see these groups operating is that there’s not any central conspiracy, but there are task forces. Rich and powerful people will get together and form a task force to get something done. Maybe it will work and maybe it won’t. After that enterprise is over with, it breaks up. Members go their separate ways and then down the road more of these people form another task force and they find some other scheme.
As long as we have large powerful governments this is a wonderful convenience for these people because all they have to do is get control of a large powerful government and they use this as a tool to get what they want. The solution to the whole thing is to eliminate as much political power as you can so they aren’t presented with these tools to use on us. I do not regard the groups of the elite as the problem; I regard the political power as the problem. If you eliminate most of the power then you are de-fanging these groups and they are left to flounder and probably can’t do anywhere near as much damage to us as they can with all this power available to them.
Daily Bell: We think the Internet has compromised this elite’s secrecy. Agree?
Richard Maybury: Everybody’s secrecy has been compromised by the Internet! (Laughing). The age of privacy is over with and that’s privacy for the elites, government and everyone else. That’s the significance of Wikilieaks. In fact, in my February issue of Early Warning Report there’s an article about that. I think Wikileaks is the beginning of what will turn out to be the biggest political development in a thousand years. Or say for the next thousand years. Pretty soon it will be impossible for governments to operate in secrecy and once everybody knows what every government is doing it’s going to be a different world.
Daily Bell: We think the Internet has turned into a real force for freedom and political fragmentation – which we consider good. Comments?
Richard Maybury: I absolutely agree. Anything that puts light on what the political elite is doing is a good thing. That’s why the American founders were so much in favor of a free press and why America is famous for having the most free press in the whole world The founders understood that government can’t really hurt us too badly if we know what they are doing. There is no tool more important to a power junkie than secrecy. So yes, absolutely, the Internet is one of the greatest things ever to come along for that reason.
Changes are a coming. Remains to be seen if the world can continue on the track of the last 50 years. History shows us economic collapse of an Empire brings great upheaval as the powers that be lose control. Just look at the mess the fall of the Soviet Empire left in central Asia and Eastern Europe. Eventually, people figure out how to survive and a new way of life emerges.
Expect a lot of dead bodies to pile up, though, before that happens!
Richard Maybury: I think the dollar, as we know it is dead or pretty close to it. Obviously it’s not dead yet but it’s another great big version of Tulipmania. This demand for not only the dollar but for all paper currency, fiat currency, it’s just Tulipmania. It’s been going on since 1971 when all currencies were converted to fiat currencies. So now we are seeing the process of the world bringing this calamity to an end. So the dollar and all other fiat currencies will no longer be fiat. They will be tied to something real, perhaps gold, perhaps a basket of commodities that includes gold, I don’t know, but the whole world is clearly a lot more interested now in holding real assets than fiat currencies. I think we are in the beginning of a great revolution of currencies where we are going to go back to the type of money that can’t be created without limits out of thin air.
Daily Bell: Will the EU be able to salvage the PIGS?
Richard Maybury: I would politely disagree with the phrasing of the question. It should be, Will Germany be able to salvage the PIGS? The answer is probably not in the long run because you can bleed the Germans for a while, but they will probably end up going broke if they try to keep bailing out the PIGS. And there are going to be more PIGS. There are many countries out there operating as welfare states and they are inherently unsound. So if the question were, will the German’s bail them out, I would say for a while, but then the Germans will be dragged down too.
Daily Bell: Let’s continue with some geopolitical questions. Is the euro going under?
Richard Maybury: Yes, I think the euro is going under but I don’t know when. It’s a fiat currency like the rest of them. It’s going to be wiped out too, or replaced by some form currency that cannot be created in unlimited quantities.
Daily Bell: Ireland just started printing its own euro notes. Is this a significant crack in the dike?
Richard Maybury: Yes, sure. Any time you give any human being the privilege of counterfeiting money, he’s probably going to do it, and do a lot. The Irish are just as human as the rest of us and they will succumb to the temptation to inflate the euro.
Daily Bell: Will the EU itself survive?
Richard Maybury: I hope not and I don’t think so. If you look back, say, 45 years, when the various countries in Europe were much more independent and they had their own currencies tied to gold…..
And especially this part……
If the US navy stays in the Persian Gulf and continues to back the
regimes that control Kuwait and Saudi Arabia and other oil countries on
the west side of the gulf, then the price of oil can go rather high.
However, if there’s a revolution and the navy leaves and these
governments are overthrown and new governments come in and just start
pumping all the oil they can, then the price falls dramatically. There
were some calculations done, that I wrote about maybe ten years ago,
that show the price of oil really ought to be somewhere around $5.00 per
barrel because there’s so much of it in the Persian Gulf and that’s the
only place it would be pumped from if politics didn’t enter into the
situation. All these other places like the North Sea, Texas and
Indonesia have higher costs of production than the Persian Gulf does. So
if we could remove all the politics then all oil would be pumped from
the Persian Gulf at a cost of approximately $5.00 per barrel. In that
sense, if the US navy would leave the Persian Gulf, we might see $5.00 a