The Economic Crisis (The Fall of America & the Western World)

[brocktonblockbust]

I don't understand. I'm Kirkland Laing. Kirkland Laing!

The italics clarified it, thanks. Any way you a good guy and we aint fightin but I got a Masters in INt'l Finance from Thunderbird (AZ) and I know a decent amount about it. The US has lent, spent and guaranteed $26 trillion since 2009. Deregulation has allowed all kinds of abuse. Black pools, default swaps, collateralized debt obligations, all sorts of shenanigans, and the criminals who pulled this off are now expected (hahaha) to solve it? Thats asking the fox to guard the henhouse. The same people who in 2007 "didnt see it coming" are now being trusted to tell us what is happening now What a joke. YOu really believe the company line/the govt line that there is a recovery and we are out of the recession since June of 09? Hahaha---you believe there is only 7% unemployment? More like 24%---see the problem with believeing govt accounting figures is that they fudge the figures, manipulate the data laft and right shamelessly.

Now food and fule are not being counted in the CPI index? Not part of inflation huh? hmmm? How convenient. Thats how they can claim there is no inflation. With all those dollars printed out of nothing, backed by nothing, producing nothing, creating no productive capacity, only encouraging more consumer spending........how is there no inflation? You believe them too much. They are liars, they have always been and always will be. Its all coming down shortly Laing. The whole CHARADE. peace bro

You don't even understand basic stuff about bonds that's covered in high school economics lessons. Are you going to give me an actual date by which you guarantee the US economy will be in a FIERY DEATH SPIRAL?

no I will not go back and forth with you like Lyle has done. Want to know why? Because you have no respect. I didnt tell you anything like you dont know basic things or make any judgemental statements to you personally. But I see here you have done that in replying to me. I make it a rule to not debate a person who takes it to the insulting or personal level. My advice to you bro: it aint always what you say but HOW you say it. Ciao.

[brocktonblockbust]

[Kirkland Laing]

I'm not insulting you. I'm just making a basic statement of fact. US bonds are not issued by the Fed, they're issued by the Treasury. If you don't know stuff like that you won't even pass high school economics 101. That's just a simple fact, not an insult at all. Trust me, if I insulted you you'd know all about it. I'm absolutely elite world class at taking the piss out of people and hurting their feelings and I don't do it because I don't want to get banned.

My advice to you is to read a wide variety of sources about the economy and the financial system. If you're just going to read/watch/listen to the nutjobs who've been wrongly predicting FIERY DEATH SPIRALS for five years now you're going to continue to be wrong. If you read other sources for a year or three you'll understand that it isn't a conspiracy that we use core inflation to measure inflation, why food and fuel aren't counted, why we don't have inflation despite printing so much money and so on. I already explained these points endlessly over the years, I can remember some months ago explaining to you about how we count inflation the way we do. If you're going to argue about this stuff you should know the absolute basic, Janet and John high school level stuff at least. And if you're going to insist on the FIERY DEATH SPIRAL you should at least come up with a definitive date when it's going to happen.

[brocktonblockbust]

OK we're cool on the perceived insult thing. Ill give you that .... Now......

you're missing the main points... its pedantic to keep hammering about the Fed/Treasury thing OK fine, I stated it backwards....but that aint the point my friend.

YOunever address the MAIN POINT which is this whole thing is a shell game. Do you understand what I mean by that?

[killersheep]

OK we're cool on the perceived insult thing. Ill give you that .... Now......

you're missing the main points... its pedantic to keep hammering about the Fed/Treasury thing OK fine, I stated it backwards....but that aint the point my friend.

YOunever address the MAIN POINT which is this whole thing is a shell game. Do you understand what I mean by that?

So the shell game is who issues the bonds?
I'm fairly certain Mr. Laing has debunked EVERYTHING you have posited.
The strange thing is in my industry there are a fair number of people with various degrees from Thunderbird, they understand these basics a lot better and never quote hacks on youtube as
evidence for anything.

Also I have to track the gold markets everyday as it is part of my supply chain. It's been obvious to me that gold was not going to maintain it's meteoric rise in value, despite what gold salesmen would say.
Here's a chart of GLD an ETF that tracks gold prices (multiply by 10 to get the value)

If your logic (and the crux of your argument) is that the rise of gold price
is representative of a loss of value in the dollar, than the inverse must also
be true right?

And gold has lost roughly 30% of it's value from it's peak.

SPDR Gold Trust ETF Chart - Yahoo! Finance

[VictorCharlie]

OK we're cool on the perceived insult thing. Ill give you that .... Now......

you're missing the main points... its pedantic to keep hammering about the Fed/Treasury thing OK fine, I stated it backwards....but that aint the point my friend.

YOunever address the MAIN POINT which is this whole thing is a shell game. Do you understand what I mean by that?

So the shell game is who issues the bonds?
I'm fairly certain Mr. Laing has debunked EVERYTHING you have posited.
The strange thing is in my industry there are a fair number of people with various degrees from Thunderbird, they understand these basics a lot better and never quote hacks on youtube as
evidence for anything.

Also I have to track the gold markets everyday as it is part of my supply chain. It's been obvious to me that gold was not going to maintain it's meteoric rise in value, despite what gold salesmen would say.
Here's a chart of GLD an ETF that tracks gold prices (multiply by 10 to get the value)

If your logic (and the crux of your argument) is that the rise of gold price
is representative of a loss of value in the dollar, than the inverse must also
be true right?

And gold has lost roughly 30% of it's value from it's peak.

SPDR Gold Trust ETF Chart - Yahoo! Finance

Who are you? Nice to see you slumming again in the off topic areas.

[Kirkland Laing]

OK we're cool on the perceived insult thing. Ill give you that .... Now......

you're missing the main points... its pedantic to keep hammering about the Fed/Treasury thing OK fine, I stated it backwards....but that aint the point my friend.

YOunever address the MAIN POINT which is this whole thing is a shell game. Do you understand what I mean by that?

Explain to me exactly what you mean by "shell game".

[brocktonblockbust]

OK we're cool on the perceived insult thing. Ill give you that .... Now......

you're missing the main points... its pedantic to keep hammering about the Fed/Treasury thing OK fine, I stated it backwards....but that aint the point my friend.

YOunever address the MAIN POINT which is this whole thing is a shell game. Do you understand what I mean by that?

Explain to me exactly what you mean by "shell game".

Now you see it. Now you don’t. YOu never heard of it? QE was the Fed’s scam. Doing it won’t resolve economic problems. They’re getting worse while Bernanke and the idiot who inherited his "job", the ECB, Bank of England, Bank of Japan etc... FIDDLE like Nero my friend. Banks got bailed out. We got sold out. Laing ti ain't hard to understand. Thunderbirds can have their own opinions. Having 1 opinion or another doesnt mean you dont understand economics. Helicopter Ben operated by Abraham Maslow’s maxim that “if the only tool you have is a hammer, every problem looks like a nail.” Yes Helicopter Ben, how fitting isnt it? For nearly five years, credit went for speculation, big salaries and bonuses. It hasn’t been for the economy to stimulate growth and create jobs. Since September 2007, the Fed cut interest rates from 5.25 to .25%. Surviving investment banks became commercial ones to get free money unavailable to ordinary folks. They scammed tens of trillions. How much is kept secret. It’s at least $19 trillion and may be up to two and half times that much. Hundreds of billions went to Fannie, Freddie, AIG, the automakers and others. At the same time, millions lost jobs, homes and futures. Who cares about them when only money power and helping corporate favorites matter, right Laing . In fall 2008, $700 billion in TARP funds were created. The Fed bought commercial paper from non-financial firms. It gave $540 billion to money market funds. It gave Citigroup $280 billion for its liabilities and $140 billion for Bank of America. Obama’s $787 billion stimulus went mostly (in the form of tax breaks) to corporate favorites and rich scumbag elites---like they didn't have enough already. QE II, QE I, Operation Twist, QE III. THEN QE INFINITY!!!

The Fed generously helped troubled European banks and its balance sheet exploded. Now its over $3.6 trillion and rising, if it was a country it would be the world’s fifth largest. One failed program followed another. US median income is lower than when the National Bureau of Economic Research declared recession over in June 2009. hahaha Yeah Laing with all that free money, perhaps it's over for Wall Street, not Main Street.

Boosting demand is needed by putting money in the pockets of consumers – but QE infinity will NOT do it. And better alternatives aren’t chosen for some odd reason, gee, wonder why, hmmmm? QE goes straight into bank reserve accounts, and banks can’t lend their reserves. They sit there helping no one needing it most. The Fed's genius plan is to buy mortgage backed securities till the motherfucking cows come home. Doing it won’t help homeowners. Bank balance sheets won’t change. You should know that QE takes something on the asset side of bank balance sheets (MBS or other toxic junk) and replaces it with electronically-generated dollars. Don't tell me I have to brush up on economic theory my friend. We all know they become excess reserves. They’re not spent or extended in loans. They’re mostly lent to other banks that need reserves. Money sitting in bank reserves can’t stimulate growth. Since QE I, the monetary base rose, but circulating money supply increased no faster than in the previous decade. At the same time, loans declined. QE II was no different. Why expect QE III or QE Whatever The Fuck to turn around failure? What about QE for small business, troubled states and municipalities, low-interest student loans, and help for troubled homeowners?

Dallas Fed President Richard Fisher said all QE will do is keep inflation expectations elevated while doing little or nothing to create growth and jobs. And it doesnt take his comments to understand this.

If that’s not bad enough Laing, just wait. The worst is yet to come. Only its timeline isn’t known. If past is prologue, perhaps (hahaha) it’s coming at a time of irrational exuberance when least expected. It wouldn’t be the first time would it now, hmmmm? Basic common sense. All you want to do is pedantically get me to call out a date for this catastrophe, this train wreck. Sorry I'm not God, I aint callin' no dates. Hell I dont even pick rounds in Saddo's Prediction COntests

[Kirkland Laing]

Nobody has scammed tens of trillions of dollars from anybody. That's just nuts. Maybe you'd like to provide evidence of where these tens of trillions came from and went to?

And QE isn't some magic wand to end all problems. It's just the only monetary tool that the Fed have to stimulate growth in the current situation. I'm sure you were predicting imminent economic meltdown the moment the Fed tripled the monetary base overnight in 2008. So five years later where is the meltdown? What'll happen is that you'll keep predicitng it right up until the goons you read stop saying it's going to happen and start off on some new tangent to get their market wetting the bed about something else. And when that happens you'll completely forget about the FIERY DEATH SPIRAL that didn't happen and then statrt endless posts predicting another BLOCK CAPS EVENT that won't happen either.