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US: Black Monday
  • Vitaliy_KiselevVitaliy_Kiselev
    Bubbless fall:
    image



    Small green island called Gold.
    image

    It's all red:
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  • 77 Replies sorted by
  • Vitaliy_KiselevVitaliy_Kiselev
    Bank of America going next?

    Plus it looks like we'll see QE3 announced today after FED meeting.
  • Vitaliy_KiselevVitaliy_Kiselev
    Bill Maher interviewed Christina Romer - the former head of President Obama's Council of Economic Advisers, and one of the chief architects of the stimulus bill.

    Maher asked - in light of the credit downgrade - "how fucked are we"?

    Romer responded:

    Pretty darned fucked.
  • brianlucebrianluce
    -Republican President and Republican dominated Congress run American economy into a ditch by financing wars, cutting revenue, increasing spending, and deregulation
    -America elects Black President.
    -Right Wing Evangelical base of opposition party goes into frenzy with the idea.
    -Tea Party created and becomes the tail that wags the dog of opposition party.
    -Opposition party states it's #1 agenda is limiting Black President to one term in office.
    -Opposition party wins control of Congress.
    -Opposition party prevents implementation of any consistent public policy to address structural issues in the economy.
    -Opposition party blocks increase in debt ceiling despite the fact it's been raised over 40 times since 1963.
    -American political system declared dysfunctional.
    -S&P downgrades credit rating.
    -Markets crash.
    -GH2 hack creates perfect 4:2:2 10 bit color in a 8k frame with 300 fps.
    -Americans people starve and riot but at least get great video of the event with hacked GH2.
  • Vitaliy_KiselevVitaliy_Kiselev
    @brianluce

    It is getting old :-)
    Fuck this "republican responsible for this mess" fairy tale.
  • brianlucebrianluce
    There is some culpability on the part of the Clinton and Reagan Regimes. But had Gore won in 2000 betcha we wouldn't have this: http://costofwar.com/en/

    And betcha there wouldn't have been a housing bubble.

    Bush took a surplus and gave us a deficit. That will be his legacy.
  • Vitaliy_KiselevVitaliy_Kiselev
    @brianluce

    OK, I understand that it is easy to belive in fairy tales.
    But I suggest to clean and open your window and look into reality.
  • brianlucebrianluce
    @Vitaliy
    And what of Paul Krugman? he's got a Nobel Prize in economics. He also a fairy tale believer? http://www.nytimes.com/2011/08/08/opinion/credibility-chutzpah-and-debt.html?hp

    I think you refuse to acknowledge the political and social elements of this issue. I like the charts you put up, the one in this thread is especially cool, but seems like you take a reductionist view. There's more to the story than charts, in the long run it all comes down to people, not numbers -- and the problem is people are a lot harder to gauge than stock values. But for me, it's the reality and the big picture, not fairy tale.
  • Vitaliy_KiselevVitaliy_Kiselev
    >And what of Paul Krugman? he's got a Nobel Prize in economics. He also a fairy tale believer?

    :-)
    Most probably no, but can't tell this on public.

    >I think you refuse to acknowledge the political and social elements of this issue

    Social elements lie in foundation of this issue. Economics destruction follow (with clouds like "green economy", "post-industrial era" made to cover problems ).
    Political mess play very little real role. Politics just represent current interests and act according to views that dominate today. Yes, it is never interests of most people, but they are fairy good representatives.
  • Nigel785Nigel785
    Thank the FED. Krugman wants more stimulus. This whole notion of spend more now, save later is the fairy tale. We need this collapse to come sooner rather than later, so we can essentially have a restart. Thats what nots being proposed. Aka laissez faire. The japanese have been bailing themselves out for 20 years. They're still 70% off there stock market highs of the 90s. A place were going fast.
  • MihuelMihuel
    Better late than never. The problem grew from the collapse of the Eastern bloc. Inflated optimism that the capitalist system "won" the Cold War, believed that this system is brilliant and does not require supervision. For over twenty years west lives on credit, which can no longer afford to repay. I believe in democracy, but it does not exist. Decisions are dictated by the interests of politicians, corporations and banks. I do not like Prime Minister Putin, but I have to agree with him: America has become a parasite and the parasite eats the host's. The consequences of this affected everyone, even Russia. I wonder just how China will behave?
  • swen24swen24
    @vitaliy
    ++1
  • brianlucebrianluce
    @Mihuel
    <<<<<The problem grew from the collapse of the Eastern bloc. Inflated optimism that the capitalist system "won" the Cold War, believed that this system is brilliant and does not require supervision. >>>>>

    I have always felt the same way. Such things are hard to prove. Impossible to prove, but I believe it underlies a lot of the policy decisions and legislation made subsequent to the Soviet collapse. I believe in capitalism, but it has to be managed and regulated by reasonable men, not political hacks owned by lobbyists. Somehow America is able to sensibly regulate things like transportation, but with the economy? Not so much.

    Related note, Interesting remark was made by Vladimir Putin on the news of Obama's 2008 election, he said something to the effect that America isn't ready for a Black president, and that there'd be revolution. Prophetic?
  • MihuelMihuel
    So we dream the American dream? AAAAAAAA! Wake me:) A mustachioed Georgian laughs now in hell:)
  • LPowellLPowell
    Only gold can issue an unbiased rating of the federal government's creditworthiness.

    http://www.forbes.com/2011/08/08/stock-market-plunge.html
  • MihuelMihuel
    >I believe in capitalism, but it has to be managed and regulated by reasonable men ..
    It is not possible . We have to change the whole system .America and Europe needs the next "new deal", but in the constitutional rights .
  • Vitaliy_KiselevVitaliy_Kiselev
    >The problem grew from the collapse of the Eastern bloc

    :-)
    Nope. Collapse made by mr. Gorbachev had been essential for survival of NATO economic model in short term. You can open any chart and look at change that happened in 92-93 years.

    >America and Europe needs the next "new deal",

    And this "new deal" is called... big war.
  • cosimo_bullocosimo_bullo
    Um, follow the money, people:

    http://www.frumforum.com/the-downgrade-rally

    Everyone is scared (not just US, everyone). Where are they parking their money? In those risky AA+ Treasury bonds.

    And, by the way, Vitaliy, this:

    'It is getting old :-)
    Fuck this "republican responsible for this mess" fairy tale.'

    is emotional language. Practice what you preach, please.
  • MihuelMihuel
    >And this "new deal" is called... big war.
    You have got fucking right because only this can change anything. We had a Muslim terrorist who will be next on the list of enemies?
  • Vitaliy_KiselevVitaliy_Kiselev
    @cosimo_bullo

    >Everyone is scared (not just US, everyone). Where are they parking their money? In those risky AA+ Treasury bonds.

    I highly doubt this.
    Short term bond purchases no longer play major role on such stage of Ponzi scheme.
    Yes, US is trying to keep rates low using all the power that they can (like S&P).
    Could they do it even in mid term? No, no way.

    >is emotional language. Practice what you preach, please.

    So, you returned without the facts and now spend your time searching for my emotions. :-)
    For me it looks like big time waste.
  • Vitaliy_KiselevVitaliy_Kiselev
    >We had a Muslim terrorist who will be next on the list of enemies?

    With about 98% probabilty such enemy will be either China or China+Russia+Satellites alliance.
    Muslim terrorists are doing their own thing, so they'll be busy :-)

  • cosimo_bullocosimo_bullo
    Vitaliy, look at the numbers. The money is running to US bonds weather you like it or not. That is, dear sir, a FACT.
  • Vitaliy_KiselevVitaliy_Kiselev
    >The money is running to US bonds weather you like it or not. That is, dear sir, a FACT.

    No one said that I don't like it :-) In fact I do, as it allows to make quick money.
    I said that this short term bursts of open market bond purchases play no role at this stage (mid term).
    In fact, I said that S&P downgrade had been used to gain more time before collapse (mostly to make foundation for FED to quickly run QE3).
    So, your "fact" is very old news.
  • MihuelMihuel
    @Vitaliy
    I was imprecise, the Islamic terrorists that was invented enemy, America, like every empire needs enemies, as they do not have it they can find them :-). Quotation : "There was no business like shoah business "
  • proaudio4proaudio4
    @Vitaliy_Kiselev
    "OK, I understand that it is easy to belive in fairy tales.
    But I suggest to clean and open your window and look into reality. "

    I'm with you on this one Vitaliy.

    The US now adds $4,000,000,000 (Yes , that's 4 Billion) deficit EVERY DAY and the current administration wanted to do nothing. Yep, that was their plan.... do fu*king nothing, just "kick the can down the road".

    Are the republicans much better, well not by much. But, by FAR better than these arrogant leechers spending all our fu*king $$.

    Well, this sh*T, just came to an end. This administration went to far.
    We are now fuc*ked. If people think that's not true.......... just wait and see.
    We are no longer playing with numbers where we may have had a chance for a quicker recovery. Our current deficit plan barely touches our issue... hence why S&P did what they did.

    BTW, S&P stated if we had passed Ryans Cut, Cap, & Balance plan we would have passed and not had the downgrade.
    But as you know it, the Dems "tabled" the plan in the Senate. Yep, didn't even bother to look and vote!
    Unreal.

    Again, we are "in the hole" 4 BILLION US DOLLARS EVERY DAY!

    I don't want to hear another just increase the debt limit. We don't have the fu*king money; therefore all of these additional out of control federal programs WE CAN NOT AFFORD (Hence, the 4 billion loss a day).

    Here's some facts:
    Close to 50% of Americans do not pay ANY federal income tax.
    45 Million are on foodstamps.... WTF, did you just say 45 million are on foodstamps.. Yes I did. LOL! And it's getting worse by the day.
    The top 10% pay 71% of the income tax!

    We work so others can lay around on their couch collecting government handouts.

    Here's another fact:

    Vitaliy has made the GH2 one heck of a camera!




  • Vitaliy_KiselevVitaliy_Kiselev
    @proaudio4

    >current administration wanted to do nothing

    I do not think so.
    They are doing all they can.
    And such stock market slump is very good for their plan.
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