tag:blogger.com,1999:blog-4921988708619968880.post1149037061607675175..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, July 27 2008: The Increasing DecreaseIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-4921988708619968880.post-2108074586134907832008-07-28T10:36:00.000-04:002008-07-28T10:36:00.000-04:00Keeping cash in a safety deposit box is not allowe...Keeping cash in a safety deposit box is not allowed in Canada, and I doubt very much whether it would be in the US or elsewhere either. In any case, it wouldn't be a good idea whether you could get away with it or not (and you probably could for the time being). The more creative you are with wealth storage, the better your chances of hanging on to it, and a safety deposit box is not a creative Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66565707259448841452008-07-28T10:27:00.000-04:002008-07-28T10:27:00.000-04:00I basically agree with bigelow about the insecurit...I basically agree with bigelow about the insecurity of safety deposit boxes as banks fall like flies in a Raid commercial. We no longer operate under the rule of law. The Congress (Democratic majority mind you) passing the telecom retroactive immunity act was the death kneel for rule of law as the F&F bailout is the death kneel for the economy in general.<BR/><BR/>I was just surprised to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-16891040649300699472008-07-28T10:25:00.000-04:002008-07-28T10:25:00.000-04:00OC,For Zimbabwe, the international debt financing ...OC,<BR/><BR/>For Zimbabwe, the international debt financing model is already mostly dead. I'm no expert on the country by any means, but if they have a conventional central bank, I doubt very much that it is a private entity owned by venerable international banking families and holding real value worth defending. It would more likely be a political pawn of Mugabe's, intent on maintaining his Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71759288113515047552008-07-28T09:41:00.000-04:002008-07-28T09:41:00.000-04:00Crystal Radio,Speaking of "desperation incarn...Crystal Radio,<BR/><BR/>Speaking of "desperation incarnate", it took the entire day for me to remember a relation's lawyer's name. Sure I could look it up but I insisted my memory do the work, I didn't need it straight away. <BR/><BR/>But Seriously, with the Patriot Acts 1&2, I believe it is the Military Commissions Act and of course the catch all for profits and Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-18449038414501958092008-07-28T00:59:00.000-04:002008-07-28T00:59:00.000-04:00I:Funny. (really)But can you explain it just a li...I:<BR/><BR/>Funny. (really)<BR/><BR/>But can you explain it just a little less cryptically? What about Argentina?Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81927859940444150062008-07-28T00:51:00.000-04:002008-07-28T00:51:00.000-04:00"smortgage-backed ecurities". Interesting typo tha..."smortgage-backed ecurities". Interesting typo that Ilargi...made me think of a smorgasbord of e-curiosities, like some strange neologism for modern ecnomic inventions and fiction.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-89917753932164023872008-07-27T22:53:00.000-04:002008-07-27T22:53:00.000-04:00Now now OC, you should know better......And yet, i...Now now OC, you should know better......<BR/><BR/><I>And yet, it costs 1.2 quadrillion Zimbabwean dollars to buy a laptop. WTF? How does this end for Zimbabwe?</I><BR/><BR/>Rule no. 1 in hyperinflation: there's no such thing as "present tense". The time it takes you to type in those two words just cost you a million zwops.<BR/><BR/>Similarly, the time when a laptop cost $1.2 quadrillion ZIM? Ilargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-37049644684166945152008-07-27T21:00:00.000-04:002008-07-27T21:00:00.000-04:00Z,Just personal income increase against the govern...Z,<BR/>Just personal income increase against the government posted rate (in Canada). The point I was trying to make was that it would be at least 2.4 times as onerous for me to buy now, and at the seemingly generally accepted multiplier of 3.5 it would be 1.7 times as monetarily onerous. ( BUT there I have not factored in, that, that would be considered an upper level of repayable mortgage debt, Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-43110122119928040762008-07-27T20:55:00.000-04:002008-07-27T20:55:00.000-04:00OK, I hate to beat a dead horse as much as the nex...OK, I hate to beat a dead horse as much as the next guy, but:<BR/><BR/>Presumably Zimbabwe has a central bank that would not want to lose control over its money supply.<BR/><BR/>And yet, it costs <A HREF="http://www.reportonbusiness.com/servlet/story/RTGAM.20080727.wzimbabwe0727/BNStory/Business/home" REL="nofollow">1.2 quadrillion Zimbabwean dollars to buy a laptop</A>. WTF? How does this end Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-7439255726335865302008-07-27T18:04:00.000-04:002008-07-27T18:04:00.000-04:00CR said in a comment above: Income has increased a...CR said in a comment above: <I>Income has increased at over inflation rate...</I><BR/><BR/>do you refer to the official (cooked) or real inflation rate? how much has gold price changed in the last 8 years? or how much has the price of any broad commodity index changed since?<BR/><BR/>zAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-59995134888939111282008-07-27T17:32:00.000-04:002008-07-27T17:32:00.000-04:00ilargi's comments on top: Looking at the paper and...ilargi's comments on top: <I>Looking at the paper and its graphs, I don’t see any reason to change my prediction that US home prices will come down by 80% or more (I have left inflation out).</I><BR/><BR/>what would be the number if inflation is not left out?<BR/><BR/>zAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-83026788282065095402008-07-27T16:57:00.000-04:002008-07-27T16:57:00.000-04:00Crystalradio,Thankyou. My memory is not flawed I s...Crystalradio,<BR/><BR/>Thankyou. My memory is not flawed I simply can not provide an internet link. I should argue it is a detail in the face of the greater argument not to keep anything of value where the growing government culture of confiscation can relieve you of it. <BR/><A HREF="http://www.fdic.gov/consumers/consumer/news/cnspr97/sfdpstbx.html" REL="nofollow"> FDIC Spring 1997</A><BR/><BR/>Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-21511847285830041392008-07-27T16:23:00.000-04:002008-07-27T16:23:00.000-04:00Bigelow said yesterday: It’s illegal to keep cash ...Bigelow said yesterday: <I>It’s illegal to keep cash in a bank safe deposit</I><BR/><BR/>Bigelow said today (I think referring to that cash held in a safely deposit box) :<I> what do you mean it's illegal?</I><BR/><BR/><BR/>Normally I would angrily say:<I> Just what do you mean Bigelow!- But there is a great idea for me in this- from now on I will call my flawed memory my unmanageable reference Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53407325567651876472008-07-27T16:00:00.000-04:002008-07-27T16:00:00.000-04:00Ilargi: What makes me doubt the IMF paper even mo...Ilargi: <I> What makes me doubt the IMF paper even more is a <A HREF="http://bp3.blogger.com/_9ZzZquaXrR8/SIy36Kz1a0I/AAAAAAAABXg/i4naw_kuLqc/s1600-h/3CR.jpg" REL="nofollow">graph </A>like this ....</I><BR/><BR/>What makes me wonder about it is this matchbook calc about my place:<BR/><BR/> We bought at 2.5 times income about 8 years ago.Income has increased at over inflation rate, but to buy theAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81808623029609905602008-07-27T15:52:00.000-04:002008-07-27T15:52:00.000-04:00el pollo,No link. The reason it stuck with me was ...el pollo,<BR/><BR/>No link. The reason it stuck with me was because it was so unusual: what do you mean it's illegal? I habitually read 10-15 sites a day plus extras and my references file is unmanageable. Why don't you ask a bank manager?Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-12600323403579108882008-07-27T14:51:00.000-04:002008-07-27T14:51:00.000-04:00I searched for info on cash in safety deposit boxe...I searched for info on cash in safety deposit boxes and found none other than it is unlawful to keep STOLEN cash in a safety deposit box! Looking forward to the answer, Bigelow, and thanks el pollo for asking the question.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-79056091904567433992008-07-27T14:32:00.000-04:002008-07-27T14:32:00.000-04:00I-I know you've said you're not a Bill Gross fan, ...I-<BR/>I know you've said you're not a Bill Gross fan, but his August commentary starts out "The deflating U.S./global asset markets are much like Churchill’s Russia". At least he admits we are in deflation, unlike many. He essentially says the gov. is trying to prop up the housing market at all costs and if it fails to do so it's all over. When Bill Gross advises that one should be in T Bills Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-48479659878897456452008-07-27T14:17:00.000-04:002008-07-27T14:17:00.000-04:00In trying to ascertain coming events, I have been ...In trying to ascertain coming events, I have been trying to learn about the Great Depression in economic terms. But the United States treasury had little or no meaningful debt when it started while we have crushing debts and obligations (for those of us who chose to remain in the USA) today. I think this difference is huge and makes the GD v. 1.0 a somewhat meaningless template for things to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-51096327112854432832008-07-27T14:12:00.000-04:002008-07-27T14:12:00.000-04:00Bigelow,In one of your postings yesterday, you sta...Bigelow,<BR/><BR/>In one of your postings yesterday, you stated that it was now illegal to keep currency in a bank safety deposit box. In a brief Google search yesterday, I could not find this, but rather found in some lawyer recommendations, by inference, that it was not. So could you give us a reference for this information?Anonymousnoreply@blogger.com