tag:blogger.com,1999:blog-4921988708619968880.post8554804566009814523..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, August 18 2008: Tested for LeaksIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-4921988708619968880.post-2897635901806908282008-08-19T12:36:00.000-04:002008-08-19T12:36:00.000-04:00For anyone who may have missed it, there has been ...For anyone who may have missed it, there has been an interesting discussion on infation versus deflation etc (still continuing) over at the <A HREF="http://www.slate.com/discuss/forums/thread/1525244.aspx" REL="nofollow">Slate site</A>.Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-42336338884381144452008-08-19T09:26:00.000-04:002008-08-19T09:26:00.000-04:00@ el pollo: "$985 B in outstanding Federal Reserve...@ el pollo: "$985 B in outstanding Federal Reserve notes (currency) and coins at the moment"<BR/><BR/>I have not been able to find a chart but I did a Google which shows the dollar amount has increased through the years (just read the blurbs to the weblinks)<BR/>http://tinyurl.com/5ovpejAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-15669215066041446032008-08-19T09:06:00.000-04:002008-08-19T09:06:00.000-04:00Anon: "Maybe I am the only one to think about this...Anon: "Maybe I am the only one to think about this, but the crooks who are stealing our money, what happens to them?"<BR/><BR/> Unfortunately, they are only crooks if what they did was illegal at the time. But it probably wasn't.<BR/><BR/> "I made a profit" is the Universal Plea of Not Guilty under more jurisdictions than just the USA.<BR/>Worse than that, it is the universal standard for The Lizardhttps://www.blogger.com/profile/12044779666881689690noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-36051226820814764672008-08-19T07:54:00.000-04:002008-08-19T07:54:00.000-04:00Maybe I am the only one to think about this, but t...Maybe I am the only one to think about this, but the crooks who are stealing our money, what happens to them? Are they taking the loot and moving to Dubai?<BR/>http://www.palmsales.ca/<BR/><BR/>Or in a global meltdown, will there no financial wealth, anywhere? <BR/>Anonymous ReaderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-77924424892640468102008-08-18T22:58:00.000-04:002008-08-18T22:58:00.000-04:00Stoneleigh,First, I just wish to express my admira...Stoneleigh,<BR/><BR/>First, I just wish to express my admiration for your analytic and writing skills. They are awesome.<BR/><BR/>In your comment to Slate you write:<BR/><BR/>"Once expansion morphs into contraction, credit evaporates, leaving only actual money, which is currently much less than 1% of the effective money supply. This is deflation by definition (the contraction of the sum of moneyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-43710168520435015902008-08-18T22:28:00.000-04:002008-08-18T22:28:00.000-04:00I come to confess my sins.I was a consumer. A hedo...I come to confess my sins.<BR/><BR/>I was a consumer. A hedonistic consumer lost in the sparkle of frivolous baubles that do nothing but stupefy me, blinded by the instantaneous gratification. There are many I could blame for this affliction, but in the end no one is responsible for my actions except for me.<BR/><BR/>One year ago the baubles began to lose their grip. I strayed and began readingAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-29909574242358428012008-08-18T21:43:00.000-04:002008-08-18T21:43:00.000-04:00"You can start bottom-fishing in the current marke..."You can start bottom-fishing in the current market. This is the point in the market where development fortunes are lost but also made."<BR/><BR/>That is some really impressive delusion, Ms Barnes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-47728068005378633022008-08-18T21:39:00.000-04:002008-08-18T21:39:00.000-04:00Somebody here kindly informed me last month IIRC t...Somebody here kindly informed me last month IIRC that there was $985 B in outstanding Federal Reserve notes (currency) and coins at the moment. Does anyone know a URL where this is graphed over time?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72269407298277338672008-08-18T21:37:00.000-04:002008-08-18T21:37:00.000-04:00Well, it sure didn't take long to go from "it'll o...Well, it sure didn't take long to go from "it'll only take 50 billion to fix Fannie and Freddy and there's only a 50% chance we'll even have to go that far" to the dismal point of near oblivion where they are today, eh?<BR/><BR/>You really can tell when the government is lying, and it really is because their lips are moving.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-68369146009732411072008-08-18T20:15:00.000-04:002008-08-18T20:15:00.000-04:00Yes, the general populace seems to be clueless abo...Yes, the general populace seems to be clueless about the financial crisis ahead.The mortgage meltdown ranks last place in todays CNN money website poll (an investment related website nonetheless). <BR/><A HREF="http://money.cnn.com/POLLSERVER/results/41339.html" REL="nofollow"> What "Issue #1" topic should be the priority of the new President?</A>. <BR/>Too bad they omitted the grand theft of Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-76876040325981148792008-08-18T19:30:00.000-04:002008-08-18T19:30:00.000-04:00I too am thankful to have found this blog to read ...I too am thankful to have found this blog to read and gain knowledge about the global meltdown. While I can see this coming and have made preparations (still more to do), it is still difficult to comprehend the enormity what is going to befall everyone. Some of my family see it, but most everyone is clueless, or maybe they are in denial.<BR/>Anonymous ReaderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-44984537567474159232008-08-18T18:53:00.000-04:002008-08-18T18:53:00.000-04:00There is the point,at $1000 where the grand will g...There is the point,at $1000 where the grand will get you more services than the house...What if rent is $5/month for a great place,nice location...<BR/><BR/> Where does it end?<BR/><BR/> I don't have a clue.This is looking @ the abyss...and the abyss is looking back at you now.<BR/><BR/> Its broke now.This blog is helping folks to understand our collective"Humpty-Dumpty"moment.<BR/><BR/> Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-20195994207034377622008-08-18T18:02:00.000-04:002008-08-18T18:02:00.000-04:00And:When there is no credit left to finance mortga...And:<BR/><BR/>When there is no credit left to finance mortgages, houses, like everything else in society, will sell only for cash. You'll buy a home for $1000 soon, great place, nice location.<BR/><BR/>But will you want to spend it that way?Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-4025652432173347972008-08-18T17:57:00.000-04:002008-08-18T17:57:00.000-04:00GZ et al,It's pretty simple, I think. As I'...GZ et al,<BR/><BR/>It's pretty simple, I think. As I've said many times, and again today, I'm sure prices will fall 80% or more. Stoneleigh says 90%, but the difference is academoc.<BR/><BR/>In my intro this morning, I said that I simply can't see what would hold prices up once they fall 30%. And I wish someone serious would convince me I'm wrong.<BR/><BR/>What would establishIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-14066894809007687942008-08-18T17:46:00.000-04:002008-08-18T17:46:00.000-04:00Today looks like trouble to me. Phoney and Fraudy...Today looks like trouble to me. Phoney and Fraudy fell by nearly 25% each. AP summary of today's market includes a quote as follows: <BR/><BR/> "John Merrill, chief investment officer at Tanglewood Wealth Management, said investors are realizing that the financial sector troubles aren't likely to soon disappear.<BR/><BR/>"The degree and depth of what's happening in the financial industry is Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81693617675580900032008-08-18T17:39:00.000-04:002008-08-18T17:39:00.000-04:00Richard Russell has been writing since the 1950's....Richard Russell has been writing since the 1950's. He had some mini-strokes over the weekend. This is what he says is important today:<BR/><BR/>“To give you a hint of what I think the combined markets are now telling us -- I believe we are on the eve of world deflation. I pulled out a headline from the August 5 Wall Street Journal headline -- "INFLATION PACE IS FASTEST IN 17 YEARS." <BR/><BR/>Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-46623623139995966002008-08-18T17:08:00.000-04:002008-08-18T17:08:00.000-04:00Before anyone gets worked up over it, there was a ...Before anyone gets worked up over it, there was a story today in Reuters that <A HREF="http://www.reuters.com/article/marketsNews/idUSN1844943420080818" REL="nofollow">Foreclosures fuel S. California July home sales</A>.<BR/><BR/>The interesting bits were that sales were up 13.8%, equal to March 2007 but that prices were down 31.1% from a year ago.<BR/><BR/>What's happening is that lots of Greyzonehttps://www.blogger.com/profile/03675706201111951125noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-49331781570635524482008-08-18T16:14:00.000-04:002008-08-18T16:14:00.000-04:00Thanks for the wonderful photos and the introducti...Thanks for the wonderful photos and the introduction to the National Photo Company and Dorothea Lange.<BR/><BR/>The housing situation in the UK really is as sad as Dorothea Lange's photos.<BR/><BR/>Every time I've visited my mother in south London for the past few years, I've had to listen to the neighbours arguing at the tops of their voices (a lot of it probably about credit card debt). Now Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52748120785702170082008-08-18T14:56:00.000-04:002008-08-18T14:56:00.000-04:00We could start by selling back all our foreign mil...We could start by selling back all our foreign military bases to over 150 countries.super390https://www.blogger.com/profile/08898551733899860020noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-22653589140727670962008-08-18T14:17:00.000-04:002008-08-18T14:17:00.000-04:00What is 'backstopping' all this Wall St thievery a...What is 'backstopping' all this Wall St thievery and transfer of debt to the public balance sheet is 'the full faith and credit of the US government'<BR/><BR/>This in turn simply means the supposed ability of Congress and the adminstration to raise money by taxing the US public, forever if necessary, to pay off our debts.<BR/><BR/>In the reality based world however, if you loan an elderly person,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-6581018267406049312008-08-18T14:13:00.000-04:002008-08-18T14:13:00.000-04:00"Both parties in Washington strongly support the b..."Both parties in Washington strongly support the biggest financial crime in world history, and there’s nobody else you can vote for. Really, it’s a closed system, it’s been thoroughly tested for leaks."<BR/><BR/>Damn right!<BR/><BR/>Could you put that in flashing red 72-point type maybe?Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-62257657047042541982008-08-18T14:09:00.000-04:002008-08-18T14:09:00.000-04:00I thought when the housing bill passed, Paulson go...I thought when the housing bill passed, Paulson got $800 billion for his 'blank check' (which coincidently is the same amount invested by foreigners). If he only uses $100 billion to bail out Fannie & Freddie, what is he going to use the remaining $700 billion for? <BR/>Anonymous ReaderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-51004851544794298232008-08-18T13:35:00.000-04:002008-08-18T13:35:00.000-04:00Thank you very much for all your work.Thank you very much for all your work.Anonymousnoreply@blogger.com