Three Years On and Things Are Only Getting Worse

205
141
Fri, Jul 8, 2011 - 8:46am

The Shill, The Coug and LIESman are "stunned" and "shocked" this morning at the lousy, awful and horrible BLSBS report. Really? Really?? Come down from your ivory towers and visit Main Street every once in a while you dopes! Utterly clueless, status quo, inside-the-box thinking.

I sure hope that, by now, none of this surprises any of you. The U.S. economy stinks on ice and it will continue to. What does this mean?

1) Tax receipts at the federal, state and local level will continue to decline.

2) Politicians will try to raise taxes which will only exacerbate the economic malaise.

3) Government debts at all levels will grow at an increasing pace.

4) THE ONLY FUNDING/SERVICING OPTION IS DEBASEMENT OF THE CURRENCY VIA QUANTITATIVE EASING (MONEY PRINTING).

5) The ultimate impact will be unprecedented global insecurity and upheaval.

We are here to help each other and warn others. There is still time but the sand is nearly drained from the hourglass. Protect yourself and your family while you still can. TF

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Bay of Pigs
Jul 8, 2011 - 7:04pm

Pure gold

Classic quote...

Dow down 62 points.

"This is a victory for the bulls today" (Because it was down 150 at one point)

Bob Pissanti BlowHorn [CNBS]

TheGoodDoctor
Jul 8, 2011 - 6:41pm

@California Lawyer I no

@California Lawyer I no longer think character applies to squatting or foreclosures. It surely hasn't applied to the banks. It's a business decision for homeowners right? If it is a way to hasten the fall of the banks then so be it. It doesn't matter anymore. Any way you slice it we are F'ed. There is now way out be QE(n), default, or devaluing the dollar against gold. Well, or hyperinflation.

By the way concerning the unemployment numbers. Remember, the unemployed don't pay taxes, nor do they buy much but the necessities. Just remember that with the upcoming earnings season (oh, aside from the multinationals) and even moreso next quarter.

tankerfirstofficerCalifornia Lawyer
Jul 8, 2011 - 6:35pm

CA Lawyer...

Many thanks sir. I did the {gasp!} regarding representation for the reason you stated... thus I was certain that wasn't how you knew.

You can understand the point of my question though, right?

I DO appreciate the backstory for this, and I certainly don't doubt that it is going on -- to say the least. I will say that the mental damage and esteem hits these people are taking will nullify any perceived gains. People who behave in this manner -- from my experience in life -- do not fare well in other areas of life.

Life is a holistic experience. If one is patently dishonest in one area of life, they will be so in others.

Thank you for reading and for your reply. It is appreciated, sir.

@tankerfirstofficer

I know those facts not because I represent any of them. I would never disclose anything like that if I represented them.

I know those facts because I spoke with one of the squatters and his wife personally when I was at a birthday party for one of the families who lives on the culdesac. The squatter was asking my opinion on whether the bank was likely to actually foreclose. I told him I had no idea, since I don't represent banks. I told him that not paying the mortgage would lead to a notice of default, then a trustees's sale, then eviction. That is all I knew.

He said he and the other neighbors on the block all decided not to pay their mortgages or their seconds, because one of them had read something on the internet that said they could all get favorable loan mods or whatnot by becoming delinquent. I just looked at him like he was crazy. I was about to launch into the whole moral hazard argument.

Then he looked at me like I was stupid, when he told me that he had lived in his house for three years without making a payment! He was smart, and I was crazy!! Can you believe that guy? He mentioned that they all had decided to do the same scheme, and tried to talk my friend into it. My friend elected to just pay his hefty mortgage anyway, given his character. So, I know only what this squatter told me, but I believe it.

I also know of others who have not paid their mortgages for a while, but that information is atty/client, so I cannot go into it. Suffice it to say, that the statistics about squatters are very much accurate.

Kumanari
Jul 8, 2011 - 6:17pm

NY COURTS NEVER CONVICT

NY courts will not convict their masters, ask Armstrong. Show me the last time one of the White Shoe Boys got the steel bracelets. Now if you're dark skinned or female or "rogue" or don't where white shoes..... it's 6 o'clock news, front page, "we got the bad guys". It's all part of the circus, distract the few that have a clue. When your behind enemy lines there is no time time for tv or newspapers, besides I can get that by scanning this site and a few others. I have my targets and objectives NOTHING has changed so NOTHING else really matters. In a few weeks they'll throw N. Korea back in the mix yea remember them they was gonna "nuke us any minute now" or was that Iran or ,or, or. Scooby Doo is in full effect. Stack, rack, and pack, last one out light a match.

Marlon Brando
Jul 8, 2011 - 6:17pm

Regarding internet kill switch...

TPTB are aware of the internet media dangers to their propaganda monopoly and are taking steps to fix the problem. The Iprotect act will soon be used to stifle free speech and imprison dissenters in a massive scale under the guise of copyright laws. When I was in China I couldn't even access my facebook. Things will be that way in the USA soon, I would say in under a year.

tankerfirstofficerCalifornia Lawyer
Jul 8, 2011 - 6:13pm

Question for California Lawyer...

Hello CA Lawyer... I've enjoyed your posts here and on the old site and respect your viewpoint a great deal. I must ask about this comment of yours though:

"Of the eight homes on the block, only ONE mortgage is current. The rest of the squatters all have stopped paying both their first and second mortgages. It has been three years for one of the families we know."

I can understand the verification of this "trend" by the family you know, but how on earth can you possibly verify that one home in eight in the neighborhood is current on their mortgage? Without access to records (or possibly representing these people somehow {gasp!}), how can you know this for sure?

Many thanks, and happy trading/stacking to you, sir!

33 and a turd
Jul 8, 2011 - 6:05pm

job creation

I enjoyed Obama saying that 2 million jobs have been created during the recession.

Only problem is a small one. 8 million jobs have been lost.

No doubt Barry wants credit for the 2 million but accepts no blame for the 8 million

Goofy
Jul 8, 2011 - 5:56pm

Dry powder

Yha man i love surfing dry powder in the vinters in Europe, i love keeping my cash in silver and gold. Hehe i never get to time the fucking bottoms because i just cant wait to get rid off the dirty paper soon enough. You guys holding for the dips are crazy man.

mauee
Jul 8, 2011 - 5:55pm

U.S. Greater Depression Accelerates

U.S. Greater Depression Accelerates

By Jeff Nielson

While the myopic U.S. propaganda machine and the “experts” who shill for it will use the word “surprise” to describe yet another dismal U.S. jobs report, the only people who could have been surprised by today’s news are those who have had their eyes closed for the past several months (years?).

The U.S. government has just completed its most massive fiscal “stimulus” in history – by several multiples. It continues the loosest, most-reckless monetary policy in the history of the world. And yet the data is clear. This unprecedented effort to attempt to breathe life into the dying U.S. economy has produced nothing more than a feeble, temporary “dead-cat bounce”.

On the employment front, as usual the real data has been sugar-coated with more fraud by the Bureau of Labor Statistics. While the BLS is pretending there was a paltry 18,000 (net) jobs created in the U.S. in June, that number has no basis in reality. Merely subtract the phantom jobs from the absurd “birth/death model” and the U.S. economy lost more than 100,000 jobs last month – and that is before we factor in any more of the BLS’s statistical perversions.

Naturally these heavily-doctored monthly jobs reports don’t begin to tell the story on U.S. (un)employment. To do that we need to look at more meaningful statistics, laid-out in long-term charts.

https://bullionbullscanada.com/index.php?option=com_content&view=article&id=21614:us-greater-depression-accelerates&catid=47:us-commentary&Itemid=132

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Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

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