Why we are ****ed…graphically speaking
January 30th, 2011 at 11:48 am by NigelRemember two years ago when Glenn Beck was warning us all that the US was monetizing its debt…:
…but then Ben Bernanke told us all, “Glenn Beck is full of shit, we aren’t and will not monetize our debt, as our Messiah Barack Obama is my witness”?
(OK, he said SOMETHING like that anyway.)
Well…check this bar graph out.
The analysis? We’re screwed:
OK, in plain English, the Fed is essentially monetizing it’s own debt – in other words, purchasing debt with debt. Parenthetically, I am sure this is the point where the Fed would want me to say that it shouldn’t be considered a complete monetization of debt on account the Fed is supposedly using proceeds from mortgage backed securities it purchased through QE 1, in order to fund the purchase of QE 2 i.e. the $600 Billion in treasuries from retail banks. Damn . . . that was a long parenthetical statement. But it is an important one. This is how the Fed sleeps at night, thinking that they are using capitalized “profits” to fund the purchase of its own debt. To be fair, I would say this ostensibly makes sense however, I ain’t much into the ostensible as much as the practical . . . and well, the “ostensible” version smells like something is rotten in the State of Denmark, if I may borrow a paraphrased line from Hamlet.
But just remember if gas goes to $6 a gallon, it’s Sarah Palin’s fault.
January 30th, 2011 at 12:50 pm
They want a Kill-Switch for the Internet. I want one for their spending. I want to use food and medicine as a weapon against the countries that seek to blackmail us into poverty and submission with oil and debt.
I’m sure we can reach some mutually satisfactory relationship where we can get gas back to $1.50 a gallon and they all don’t die from disease or hunger.
Whatcha say, assholes?
January 31st, 2011 at 6:47 am
I tend to agree Brian except that it is the elite v the elite. The poor saps feeling all the pain are us pawns- some buying food, some buying gas.
January 31st, 2011 at 10:28 am
I had an interesting conversation with a typical liberal this weekend…you know, the kind that watches MSNBC and insists she heard Sarah Palin say she could see Alaska from her house.
She scoffed at “Drill Baby, Drill”.
She didn’t understand the simplicity of having a commodity to back our dollar with. Right now our dollar is backed by our “word” (which is now our debt) and our debt is backed by our dollar.
Hmph.
However, drill the shit out of ANWAR, tap those oil shale deposits just a little, build 100 new refineries, and now we got something. And we’re not buying gas from overseas anymore. And just count the jobs.
But hell no, let’s save the planet instead.
February 5th, 2011 at 12:35 am
I was behind a bitch in traffic with a “Spill, baby, Spill” bumper sticker on her car that ran on gas.
This is bigger than just The Gulf. It is all over and in multiple industries – not just oil. We’re facing one of the coldest and most prolonged winters in memory and the fuel that heats our homes is being held hostage by our own government. President Frank Marshall Davis, Jr. has committed economic genocide against the people of Louisiana. Against Texas and New Mexico is just a war crime at this point but a crime nonetheless.
The federal judge smackdown of the de facto oil moratorium yesterday, Dan Pfeiffer’s WH Blog bullcrap about the EPA performing “common sense” denial of permits to people they just gave permits to a year ago, etc. We are under assault because we are the little people. He’s trying to run the oil, gas and coal companies out of business but it’s the little people who are going to freeze to death and lose their jobs in the process.
If these jerkoffs weren’t paying hundreds of billions in unemployment benefits (to punt and light the flaming bag of shit for the next Republican President in 2012 to avoid making any hard choices), we would be having riots in the street like Egypt and Greece. With 150-300% increase in home foreclosures scheduled for this year – I would not be surprised.
February 5th, 2011 at 12:38 am
Oh, and I was behind another crazy twat who thought she was going to speed up to the front of the line and cut in. Generally, with my legendar Zen-like calm, I let such obnoxiousness pass but then I saw the Rep. Steve Cohen bumpersticker on her car.
Yes indeed. You can incite me to cut you off and flick you the bird before 7 am.
February 6th, 2011 at 8:07 pm
There are alot of us U.S. citizens who would be willing to buy U.S. debt. But, we, the potential owners, have a few things that must be settled in stone.
First, YOU the politicians work for us. You eff with more debt, we sell YOUR a**es to Commie China.
Second, you got 5 yrs to cut the debt in half and 10 yrs to pay us off. Or, we sell your a**es to Red China.
Third, . . . . I can’t think of a third. The first two are enough. I don’t think you, the politicians, can achieve it. But, if you sell our debt down the river, we have you, the politicians, arrested. Madoff will get out of prison before you do. Oh, and none of those federal vacation prisons. I think we rent space in England’s worst s*it holes!