Jackass Roasting On An Open Fire

322

In what's become a holiday tradition, The Golden Jackass stopped by Turdville recently to spread some holiday cheer. In this lengthy podcast, The Jackass sums up the events of 2013 and then gives warning regarding the events he sees coming over the horizon in 2014.

Look, I realize that this baby clocks in at about 80 minutes long. Do with it what you will.

  • Break it up into manageable segments (gives you a reason for a break from your in-laws)
  • Download it and listen to it while you drive your family to Grandma's (at 75mph, you could cover about 100 miles)
  • Ignore it completely (at your peril ;)

Merry Christmas to all and, to all, a good podcast!

TF

  322 Comments

Kevin C
Dec 24, 2013 - 1:57am

Top Ten?

My first day at Turd's Vault. Woo Hoo!

silver2013
Dec 24, 2013 - 7:11am

No mention of currency reset?

No mention of currency reset?

ivars
Dec 24, 2013 - 7:14am

Hmm regarding conclusions of

Hmm regarding conclusions of my post above bail-ins is not a bad thing. Bail-ins reduce debt and thus dependence. But of course it must be kind of selective- those who have profited most from interest shall pay for bail- in. It is the same as debt jubilee in ancient times and created by the exponential nature of compounded interest that no economic development can match and thus these debts are not repayable.

And well its high time it comes with current levels of debt.

But it won't. However, if USA drags the rest into recession again by reducing money supply, some countries with already high public debts may use bail- in ( Europe) as their last defense. But normally the ones who profited most will escape the net. The small sharks will pay though. They will be the scapegoats.

ivars
Dec 24, 2013 - 7:20am

Does not it take 2 to dance (

Does not it take 2 to dance ( increase govt debt) ? Every cent of any govt debt is what feeds into international capital force and ablity to control governments . Optimally you need a combination of 2:

1) Big government (D) & 2) Low taxes (R)

This combination secures unbalanced government budget as long as these 2 parties dance, changing each other after few years and ensuring no one gets the other part of the deal which they probably do not want to get even ( high taxes for D, small government for R ) .

Each party has a task. D seas that govt grows, R sees that taxes stay low. Rotation ensures that no one takes over for too long to make a business model that would reduce government debt.

The rest is just spin. Low taxes will not feed Big govt through increased economic activity as govt debt is inflating wages in govt sector which need to be matched in private sector, so costs go up and private businesses also have to take on debt and so have employees. That is a joke .

Small govt and small taxes may work, but hey, then government debt will be small or non-existant? Who needs that? What will paper money be based on?

Arms race may help to get govts indebted. I think China's public indebtedness increase while increasing its military strength is priority Nr one now. Chinas public debt is too small, though huge success has been achieved since 2008 in blowing up Chinas private debt bubble.

Now if recession in the USA is just around the corned what will happen with China? The private debt pyramid will collapse and government will need to increase debt levels from current 50% of GDP to 100% in no time for bailouts and to keep economy . Once it hits >70 % net ( that is debt minus loans minus foreign exchange reserves- besides who controls PBOC?) - welcome to the club, China.

So recession in the USA now is necessary not only to collect assets in the West but also to plunge China in huge public debt to be able to pull the strings as it militarizes further.

ivars
Dec 24, 2013 - 7:30am

When Britain needed

When Britain needed restoration of pound that had collapsed after 100 years of Bank of England debt money, and win in war with France , Rothschild and alike rose to occasion and ensured international capital takes world over within next 200 years.

Now its the time for USD to go the same path..What future is there for us?

1) Immense further consolidation of current power international capital holds. Open 1 world autocracy ( after next war, in 2040 or so) .

2) reaction to that power and some revolution with painful search for another way?

3) else?

This is fundamental as it gets, within the last 2000 years, that is. And what is best long term for humanity might be totally another issue.

ag1969
Dec 24, 2013 - 7:46am

CNBS

Frank Holmes gets on CNBC and makes a simple case for re-balancing into gold after such a great year in the general markets and a big correction in the gold markets. Doesn’t that seem prudent to sell something high and buy low? And he gets absolutely berated, and called a heartless person for having an allocation to gold. This is the type of stuff you see at bottoms. Remember CNBC was the network that scared everyone out of stocks for an entire month in December 2012 when they had the fiscal cliff countdown. And then the markets went on to one of their best years in history in 2013. Bitcoin is a great recent example, ever since Bitcoin has been on CNBC on a daily basis it’s down about 50%. A great test would be to bookmark this video and see how foolish this looks in a year.

https://www.nextbigtrade.com/2013/12/23/you-cant-even-make-this-up/

Turd, I could not figure out how to embed this video, but it is a doozy!

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

boatman
Dec 24, 2013 - 7:54am
beinki
Dec 24, 2013 - 8:02am
SilverSurfers
Dec 24, 2013 - 8:03am

Love it

I love Turd marinated in Jack, roasting on an open fire. THANKS!! what a combo!!

I was watching PBS, and guy gave a lecture covering his new book, a mankind history of insurgent guerilla warfare, and concluded that guerilla warface IS THE NORM throughout history, and conventional armies the EXCEPTION.

The barbarians for example took down ROME, that historically 80% insurgencies fail, that General Templeton, ?, in Mayala, (as with MO of china) understood that to defeat an insurgency (Chinese migrants in Mayala 1950s), or maintain an insurgency (MO in china WWII) you need support from the people. To defeat insurgencies you need "according" to Templeton, you must win the hearts and minds of the people, (that was used in vietam, when the US started "getting it") by giving them a better alternative than the insurgents. With widespread media, these days, insurgency success rate has double to 40% over the last 100 years. Conventional power can not these days commit genicide and just wipe em out, (unless black out, eg Chechnia), as scorch earth is politically out, and thus total annillation is out these days, and so victory depends on 75% media coverage and 25% battle tactics, with a better proposal. Templeton for example promised Independence if the people help defeat the insurgents. While many would turn their nose, that voting in Iraq, with purple fingers was probably the most significant act of the gulf wars over the long term. Afganhistan is conflicted between a corrupt government and the brutal taliban. Not good.

This goes completely with "Walking liberty is real Money", where insurgencies are not to be feared, but embraced, if morally sound, as part of global cultural evolution.

==

24hrs to go, and the boys 9 and 10, have NOT FOUND THE XMAS PRESENT STASH!!!

unwired
Dec 24, 2013 - 8:32am

Gofo

61% of the days since the Jul08 bottom have seen a negative GoFo print. 74/121.

The powers that be sure have a knack for turning the unsustainable into the status quo.

This is what happens when Indian 'demand' for gold is down because of gov't regualtions.

https://www.zerohedge.com/news/2013-12-23/almost-every-passenger-flight-...

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Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

Key Economic Events Week of 3/2

3/2 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 10:00 ET Construction Spending
3/4 8:15 ET ADP employment
3/4 9:45 ET Markit Service PMI
3/4 10:00 ET ISM Services PMI
3/5 8:30 ET Productivity & Unit Labor Costs
3/5 10:00 ET Factory Orders
3/6 8:30 ET BLSBS
3/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 2/24

2/25 9:00 ET Case-Shiller home prices
2/26 10:00 ET New home sales
2/27 8:30 ET Q4 GDP second guess
2/27 8:30 ET Durable Goods
2/27 11:30 ET Goon Evans speech
2/28 8:30 ET Pers Income and Spending
2/28 8:30 ET Core Inflation
2/28 9:45 ET Chicago PMI

Key Economic Events Week of 2/17

2/18 8:30 ET Empire St Manu Idx
2/19 8:30 ET Producer Price Idx
2/19 8:30 ET Housing Starts & Bldg Perms
2/19 2:00 ET January FOMC minutes
2/20 8:30 ET Philly Fed
2/21 Fed Goons all day at Chicago Conf.
2/21 9:45 ET Markit flash Feb PMIs

Key Economic Events Week of 2/10

2/11 10:00 ET Job Openings
2/11 10:00 ET CGP Hump-Hawk House
2/12 10:00 ET CGP Hump-Hawk Senate
2/13 8:30 ET CPI
2/14 8:30 ET Retail Sales
2/14 9:15 ET Cap Ute & Ind Prod
2/14 10:00 ET Business Inventories

Key Economic Events Week of 2/3

2/4 10:00 ET Factory Orders
2/5 8:15 ET ADP Employment
2/5 9:45 ET Markit Service PMI
2/5 10:00 ET ISM Service PMI
2/6 8:30 ET Productivity & Unit Labor Costs
2/7 8:30 ET BLSBS
2/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

Key Economic Events Week of 1/13

1/14 8:30 ET CPI
1/14 9:00 ET Goon Williams
1/15 8:30 ET PPI and Empire Fed
1/16 8:30 ET Retail Sales and Philly Fed
1/17 8:30 ET Housing Starts
1/17 9:15 Et Cap Ute and Ind Prod

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