tag:blogger.com,1999:blog-4921988708619968880.post9137114973420530062..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: May 22 2009: Who's your daddy?Ilargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger51125tag:blogger.com,1999:blog-4921988708619968880.post-32293088220960139612009-05-26T12:24:18.325-04:002009-05-26T12:24:18.325-04:00Re: Credit Card Debt Swallows American Households...Re: Credit Card Debt Swallows American Households <br /><br /><br />There is no way I buy the excuse that Citigroup, BofA, JPmorgan, Goldman Sach's et al did not appreciate the growing risk of multiple levels of sustained predatory lending practices in the US and its implications to the global economy.<br /><br />For an interesting analysis see <A HREF="http://www.energypublisher.com/article.aspAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-40033652018273040112009-05-23T21:42:21.335-04:002009-05-23T21:42:21.335-04:00Stoneleigh:
The small living communities, the com...Stoneleigh:<br /><br />The small living communities, the communes if you will, that you describe become necessary in the wake of an economic and societal collapse. They're like socialism on a small scale in the middle of a desperate struggle for survival.<br /><br />You don't believe there are any prospects to rally the massively large group of people that stand outside the gates to storm the andrewhttps://www.blogger.com/profile/03729973018160659213noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-39611483971400703352009-05-23T21:39:30.170-04:002009-05-23T21:39:30.170-04:00New post upNew post upIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-83445490655427354672009-05-23T21:05:39.578-04:002009-05-23T21:05:39.578-04:00The 400 billion is for the PPIP. Quasi legal at be...The 400 billion is for the PPIP. Quasi legal at best but it's beautiful thing. It isn't an appropriation per say so the congress critters can pretend they aren't funding a bailout. Still this "line of credit" thing is astounding. <br /><br />The FDIC as noted in the article are trying to raise rates under the pretense that the 100 billion will be paid back. Since there are hundreds of billions rapiernoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-80040304655968909332009-05-23T20:18:28.949-04:002009-05-23T20:18:28.949-04:00Anon @6:04,
Not going to happen as even those who...Anon @6:04,<br /><br /><I>Not going to happen as even those who espouse socialism are building up their own private assets and enclaves. Their 40 acres in the wilderness if you will. I know, it all reads like so much hypocrisy.</I><BR><BR>No one us can save the world by themselves. We have to do what we can, which is to look after family, friends and neighbours as much as possible. We are Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-25795571273739983012009-05-23T19:24:19.065-04:002009-05-23T19:24:19.065-04:00"Yeah, it's real lovely when the power brokers org..."Yeah, it's real lovely when the power brokers organize the very protest against themselves, isn't it? Hey, if that sort of thing surprises you, it's time to open your eyes."<br /><br />Because it makes them feel like they matter? The fastest way to ruin somebody's party is by not having anyone attend, friend nor foe.Anon of Floridanoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-4373193997359660902009-05-23T18:45:15.182-04:002009-05-23T18:45:15.182-04:00All the 'testimony' given before Congress is not o...All the 'testimony' given before Congress is not only a breathtaking web of pathological lies, but more and more resembles a stream of consciousness (poorly done) and the charlatan rituals of 'talking in tongues'. <br /><br />No one has dropped to the floor and started writhing but it's coming, just be patient and stay in your seats. <br /><br />At this point of absurdity, Geithner could easily Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-58047900506225427172009-05-23T18:39:15.421-04:002009-05-23T18:39:15.421-04:00On May 6, the FDIC was granted a new $500 billion ...On May 6, <A HREF="http://www.reuters.com/article/bondsNews/idUSN0627269420090506?pageNumber=2&virtualBrandChannel=0&sp=true" REL="nofollow">the FDIC was granted</A> a new $500 billion credit line with the Treasury, valid till end 2010, while its permanent line was increased form $30 billion to $100 billion. There's also a $400 billion FDIC guarantee for one of the alphabet mix plans, but I don'tIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-10298577704416138482009-05-23T18:04:54.996-04:002009-05-23T18:04:54.996-04:00Andrew,
Not going to happen as even those who esp...Andrew,<br /><br />Not going to happen as even those who espouse socialism are building up their own private assets and enclaves. Their 40 acres in the wilderness if you will. I know, it all reads like so much hypocrisy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-78731931979068326462009-05-23T17:00:48.417-04:002009-05-23T17:00:48.417-04:00Andrew
All animals are equal but the pigs run the...Andrew<br /><br />All animals are equal but the pigs run the show.<br /><br />from Wikipedia:<br /><br />"Full Faith and Credit"<br />In light of apparent systemic risks facing the banking system, the adequacy of FDIC's financial backing has come into question. Beyond the funds in the Deposit Insurance Fund above and the FDIC's power to charge insurance premia, FDIC insurance isAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-12378036266813826442009-05-23T16:33:48.505-04:002009-05-23T16:33:48.505-04:00Ilargi:
What are your criticisms of a socialist e...Ilargi:<br /><br />What are your criticisms of a socialist economy?<br /><br />Autoworkers takeover the manufacture of cars (or light rail in the event of peak oil), postal workers takeover the post office, teachers takeover the schools, journalists takeover the newspapers, doctors and nurses takeover the hospitals and health care.<br /><br />Shutdown ExxonMobile, Wal-Mart, Chevron, Microsoft andandrewhttps://www.blogger.com/profile/03729973018160659213noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-23081924927711883622009-05-23T15:16:58.393-04:002009-05-23T15:16:58.393-04:00The FDIC was down to its last few billion a month ...The FDIC was down to its last few billion a month or more ago. They were needing another 100 and 500 more after that since Geithner is using the FDIC as a conduit to fund PIPP so the congress does not have to appropriate for that bailout directly. Which would be impossible.<br /><br />Then things get murky. I heard something a few weeks ago about congress talking about giving FDIC a "line of rapiernoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-50093281861418510992009-05-23T14:36:41.105-04:002009-05-23T14:36:41.105-04:00Andrew
You are correct. In the immortal words of...Andrew<br /><br />You are correct. In the immortal words of Deep Throat, one must "follow the money." I said that they are "technically" correct for the moment. Non-technically, it's all a money changer thieving temple of doom.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-17474328797875531022009-05-23T14:27:15.721-04:002009-05-23T14:27:15.721-04:00It's All Lies, All the Time now in the formerly "L...It's All Lies, All the Time now in the formerly "Land of the Brave and Home of the Free"<br /><br />Nothing will clean up the corruption except for wiping the slate totally clean with 'regime change'Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71252350937999328182009-05-23T14:17:12.237-04:002009-05-23T14:17:12.237-04:00Anon
Doesn't even FDIC money come in a roundabout...Anon<br /><br />Doesn't even FDIC money come in a roundabout way from the taxpayer? Billions in bailout money to Citi, BOA, Goldman, and they use some of it pay their insurance fees to the FDIC who then rescues an IndyMac and a BankUnited without "one penny" of tax money for public consumption.andrewhttps://www.blogger.com/profile/03729973018160659213noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-81211702678755630242009-05-23T14:01:54.421-04:002009-05-23T14:01:54.421-04:00Andrew
Technically they are correct for the momen...Andrew<br /><br />Technically they are correct for the moment though the taxpayer was banged pretty hard 25 years ago with the S&L fiasco. William Black claimed on Bill Moyers that that only amounted to 1% of the current fiasco. However, one need not be Albert Einstein to project the FDIC losses forward, and it will be tapped out before this year is over. Then what? I figure it will goingAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-77495829952831621072009-05-23T13:50:12.381-04:002009-05-23T13:50:12.381-04:002nd Quarter of 2009 11.256 trillion debt and that...2nd Quarter of 2009 11.256 trillion debt and that is 80.1% of gdp. Ten year note rate is 3.4480.<BR><BR>I can barely balance my own books, so go carefully here, but it looks like adding the GDP to that interest rate or 83.5 means there is only a space of 16.5% to blow another bubble before the Titanic rolls over and drops into the sinky sea ? In 2000 there was almost 42%. I didn't do too bad Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-15312719438436621592009-05-23T13:39:46.809-04:002009-05-23T13:39:46.809-04:00Ilargi, please explain to me the Miami Herald's re...Ilargi, please explain to me the Miami Herald's reporting on this BankUnited takeover. There is no mention of BlackRock or Carlyle at all.<br /><br />http://www.miamiherald.com/business/story/1061865.html<br /><br />In related stories the Herald quotes one official as saying "not one penny" of taxpayer money went into the rescue because it all came out of the FDIC and they get their money from andrewhttps://www.blogger.com/profile/03729973018160659213noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-40352130569354911812009-05-23T12:25:07.421-04:002009-05-23T12:25:07.421-04:00Honestly,Iggy,I dont think any of us would like to...Honestly,Iggy,I dont think any of us would like to see where we will be 2012.Its liable to be a very bad spot,depending on so many things none of us have control over.<br /><br /> I can see nothing,the way forward is dark,as all I have believed in has been laid to waste by TPTB.Retire?hell,most folks will be looking for food in a couple of years...and may not be finding it.<br /> It took me aAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71085034057715870422009-05-23T11:49:35.025-04:002009-05-23T11:49:35.025-04:00Ron Paul is a type of classic American populist. T...Ron Paul is a type of classic American populist. The thing about American populism is that it has both leftest and rightest tendencies. Adherents both liberal and conservative and yet they share certain outlooks about money and economics. <br /><br />It's often a hodgepodge of ideas with the only common thread a mistrust if not hatred of the Wall Street and banking elites.<br /><br />Paul is the rapiernoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-65190240657883762852009-05-23T09:36:04.960-04:002009-05-23T09:36:04.960-04:00Hello. This particular post is a delayed response...Hello. This particular post is a delayed response to the 401(k) comments a week ago or so.<br /><br />I used to dream of early retirement, so I was aware of something called the IRS 72(t) SEPP exception to the 10% penalty on withdrawing Rollover IRA funds before age 59 1/2.<br /><br />In the US, basically you can "roll-over" your 401(k)funds to your own self-controlled IRA when you leave Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-34521598403340256752009-05-23T09:20:10.428-04:002009-05-23T09:20:10.428-04:00What is happening with the BOGNONBR* beast, a fl...What is happening with the <A HREF="http://research.stlouisfed.org/fred2/series/BOGNONBR" REL="nofollow"> BOGNONBR*</A> beast, a flash of lightening on a dark night and ... it lives!?<BR><BR>( *Non-Borrowed Reserves of Depository Institutions)<BR><BR>-May Day-Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-86985885109553777562009-05-23T09:02:22.443-04:002009-05-23T09:02:22.443-04:00Empty Shelf Syndrome
Recession Turns Malls Into Gh...Empty Shelf Syndrome<br /><BR><A HREF="http://online.wsj.com/article/SB124294047987244803-email.html" REL="nofollow">Recession Turns Malls Into Ghost Towns</A><BR><I>If retail sales continue to decline at current rates, the dead-mall roster could <B>exceed 100 properties</B> by the end of this year, according to Green Street. That's up from an estimated 40 failing malls in 2006, before the Persephonehttps://www.blogger.com/profile/16990525279110502147noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-84223403407414165822009-05-23T07:43:17.899-04:002009-05-23T07:43:17.899-04:00Hi Ilargi,
Thanks for your comment regarding the ...Hi Ilargi,<br /><br />Thanks for your comment regarding the Agent Smith (Matrix) quote. <br /><br />This reminded of me a favourite quote from Richard Dawkins' The Selfish Gene, "Four thousand million years on, what was to be the fate of the ancient replicators? They did not die out, for they are past masters of the survival arts. But do not look for them floating loose in the sea; they gave up VKnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-77135696593432106302009-05-23T05:19:49.554-04:002009-05-23T05:19:49.554-04:00"One intriguing aspect of the Bear bailout—Geithne..."One intriguing aspect of the Bear bailout—Geithner’s selection of BlackRock to help the Fed value Bear and then manage the $30 billion in collateral—draws attention to these relationships. Merrill owns 49 percent of BlackRock, which was spun off years ago from Peterson’s Blackstone Group."<br /><br />http://www.portfolio.com/executives/features/2008/05/12/New-York-Fed-Chief-Tim-Geithner?page=3#Anonymousnoreply@blogger.com