Surviving the “Contained Depression”
Paul Kedrosky
Nov 11, 2008
http://paul.kedrosky.com/archives/
2008/11/11/surviving_the_c.html
Interesting David Levy piece in the current issue of Institutional Investor. Here is the money ‘graf(s):
Without the government’s containment the economy would indeed ace another Great Depression, but fortunately, nothing so dire will occur. The government will prevent a collapse of the financial system and partially buffer the damage to the economy, containing the depression. The government will succeed not because it is wise about economic affairs or because it won’t make mistakes. Rather, it will have no choice but to keep patching holes in the financial sector, and its sheer size and presence guarantee a sizable fiscal stabilization. The government has virtually unlimited power to intervene to protect the basic functioning of the financial system, and in an emergency can spend whatever is necessary. Although government solutions will not fix the fundamental problems that will cause the depression, they will limit the financial fallout. By the end of the contained depression, the government will likely have committed trillions between rescue operations and running huge deficits. And although some may complain about the price tag, it will be a bargain for enabling us to avoid another Great Depression.
Levy thinks we will be out the other side in late 2009 or early 2010, albeit out in a tepid way.
Internet Censorship Alert
Internet Censorship Alert: Alex Jones exposes agenda to 'blacklist' dissenting sites (March 14, 2010)
As I predicted, the Obama Administration is trying to shut down the Internet - at least the parts he doesn't like. Barack Obamas regulatory czar, Cass Sunstein has stated that he wants to ban conspiracy theories from the internet. Think about what this means - Every video, every website, every blog, every email, that exposes or just criticizes the government for any reason whatsoever could be labeled a "conspiracy" and taken down. Your home could be raided in the middle of the night, and you could be carted of to jail for criticizing the government. All they have to do is call it a "conspiracy theory".
http://www.youtube.com/watch?v=aqAWmBLFodE
Showing posts with label deficits. Show all posts
Showing posts with label deficits. Show all posts
Thursday, November 13, 2008
Thursday, September 11, 2008
A $75 trillion fright fest
A $75 trillion fright fest
By Paul B. Farrell
MarketWatch
Sep 08, 2008
http://www.marketwatch.com/news/story/75-trillion-fright-fest-8/
story.aspx?guid=%7B1E95D857%2D7CB8%2D46AD%2DB26C%2DD3732D93FD06%7D
Eight megahorror debts chilling America
America's out of control, drowning in debt, gorging: $75 trillion and getting worse. Now we're dumping Fannie and Freddie on America's balance sheet. Every year we pile trillions more on future generations.
[..] But with "I.O.U.S.A." America's debt will haunt you for years. It already totals about $150,000 for every single household. Worse yet, it's metastasizing $1.9 billion each and every day on the National Debt Clock. So who will go see the film? Few:
Liberals. Maybe a small contingent of lefties. But they already know the story about America's lethal addiction to living on borrowed money.
Conservatives. No way. They actually love big deficits and big federal debt. That money comes out of taxpayers' wallets, pays for their wars and all the profitable deals with China and oil producers that make neocons personally rich.
Main Street. The other 95% of Americans are too focused on their own personal problems; gas, food, rent, foreclosures, inflation, teen pregnancies, credit-card fees, outsourced jobs, and so much more.
So here's my adaptation of the 8 most "megahorror" debts to focus on: A format for a film festival highlighting the "The Megahorror Hits of American Debt:"
1. Horrors of Endless Massive War Debt
2. Horrors of Gluttonous, Addictive Oil Debt
3. Horrors of Trillions in Trade Deficits and Foreign Debt
4. Horrors of Killer Social Security and Medicare Debt
5. Horrors of Cheap Money, Self-indulgent Consumerism, Zero Savings
6. Horrors of Skyrocketing Health-care Debt
7. Horror of a Failing Educational System Debting America's Future
8. Horrors of Failed Leaders Triggering Catastrophic Debt Meltdown
In that worst-case scenario, our fate parallels the Rome of Caligula, decadent, vulnerable, ripe for a "Fiscal Armageddon," and eventually overrun by foreigners.
By Paul B. Farrell
MarketWatch
Sep 08, 2008
http://www.marketwatch.com/news/story/75-trillion-fright-fest-8/
story.aspx?guid=%7B1E95D857%2D7CB8%2D46AD%2DB26C%2DD3732D93FD06%7D
Eight megahorror debts chilling America
America's out of control, drowning in debt, gorging: $75 trillion and getting worse. Now we're dumping Fannie and Freddie on America's balance sheet. Every year we pile trillions more on future generations.
[..] But with "I.O.U.S.A." America's debt will haunt you for years. It already totals about $150,000 for every single household. Worse yet, it's metastasizing $1.9 billion each and every day on the National Debt Clock. So who will go see the film? Few:
Liberals. Maybe a small contingent of lefties. But they already know the story about America's lethal addiction to living on borrowed money.
Conservatives. No way. They actually love big deficits and big federal debt. That money comes out of taxpayers' wallets, pays for their wars and all the profitable deals with China and oil producers that make neocons personally rich.
Main Street. The other 95% of Americans are too focused on their own personal problems; gas, food, rent, foreclosures, inflation, teen pregnancies, credit-card fees, outsourced jobs, and so much more.
So here's my adaptation of the 8 most "megahorror" debts to focus on: A format for a film festival highlighting the "The Megahorror Hits of American Debt:"
1. Horrors of Endless Massive War Debt
2. Horrors of Gluttonous, Addictive Oil Debt
3. Horrors of Trillions in Trade Deficits and Foreign Debt
4. Horrors of Killer Social Security and Medicare Debt
5. Horrors of Cheap Money, Self-indulgent Consumerism, Zero Savings
6. Horrors of Skyrocketing Health-care Debt
7. Horror of a Failing Educational System Debting America's Future
8. Horrors of Failed Leaders Triggering Catastrophic Debt Meltdown
In that worst-case scenario, our fate parallels the Rome of Caligula, decadent, vulnerable, ripe for a "Fiscal Armageddon," and eventually overrun by foreigners.
Labels:
Conservatives,
consumerism,
deficits,
drowning in debt,
health-care,
I.O.U.S.A,
Liberals,
oil,
war
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