Fed's Irresponsiblity = High Gold Silver Prices?

Of course a lot of the elite became even richer from the bailout. And I agree that the average citizen was hurt while covering the losses of the irresponsible bankers. But when a burglar robs your home, sets it on fire, and runs. It might be a good idea to stay and put out the fire rather than chase him. Like I keep saying, it is important to NEVER get into such a bad situation. But once there, some otherwise undesirable actions sometimes have to be taken to save the innocent from further destruction.

 

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Good thing the Govt dosent run gamblers Anon. Man has a serious gambling problem. "Lets give him a check for a million dollars that should fix him". Or a Plumbing service. "My pipes are leaking". Govt : Run more water thru them that should fix it

 

I'm a southern boy,,, we catch the sob first regardless of the house.... but then again, we don't mind sleeping in a tent and catching our dinner from a stream.

.... probably why we lost the war, too impulsive and poor planners ; )

 

LOL. fighting for the south. talk about the poor being manipulated by the rich.

 

why did people want the govt to "fix" the oil leak in the gulf of Mexico if they can't do anything right.

 

Hi folks,

A couple of things the Per Foundation released a study last year that has the distribution of wealth in america the worst it's been since Jamestown.

The very rich are getting rich and the middle class is being eliminated. What we're witnessing is the genocide of the middle class in america.
Two to the larger contributing factors have been the loss of so many manufacturing jobs and the rising cost of higher education. These used to be paths to the middle class life. They're overgrown these days.
Unemployment 10%?!? Count the discouraged and underemployed and try 22%.
There are also two different economies in america - the Economy of Yes and the Economy of No.

In the Economy of Yes, you and the spouse have jobs with benefits, the house is paid or on a long term low rate fixed mortgage, you've got a pension, 401, IRA, savings, some stocks, the kids are in college and things are pretty decent. "Another glass of wine?"

Ah, but in the Economy of No, you lost your job making vacuums 6 years ago when they went overseas. You worked a few years building houses until that market collapsed. You've been drawing unemployment but your benefits have run out. You had to cash in your pension and 401 and savings to pay the mortage but you're still behind and trying not to get foreclosed. Wife has a job making $10 at Walmart but neither of you have insurance. Daughters pregnant and your boy is on drugs. Life sucks. "Can I have one of those beers?"

What's really sad is the so many of the former have no idea the latter even exist. You listen to the Kudlows and Cramers on CNBC and good God, could things get any better?!?

What scares me is that no country has ever survived without a viable and growing middle class. Never.

peace,

rono

 

"What's really sad is the so many of the former have no idea the latter even exist. You listen to the Kudlows and Cramers on CNBC and good God, could things get any better?!?"

Cooked frogs and don't even know it rono.... cooked frogs... or rather "cooked sheeple", and don't even know it... lol.

You can delimit rich and poor 100 ways.... upper upper class, middle upper class, lower upper class, upper middle class, middle middle class, etc..... but let me help ya'll out by delimiting abit with comment.

All ranges represent disposable cash,, meaning securities, cash,, etc... immediate "play money"... no home value, or land value, etc included.

upper rich - 500M or more immediate disposable none hard assets ....these are your bailout boys who got'cha money... 36k per individual in the U.S.of A....... good to be king ain't it. An example is NOT Made-off, he was not there,, however many of his "quite" backers were (you really think he did that by himself,, ha).... an example were the Picor's, who's wife, after her husbands death 'voluntarily" returned 9.7BILLION! from Made-off skims... leaving herself only ~600M to manage the remaining estate. Personnally, I commend her highly for doing the right thing.... if anyone deserves to remain in the class of folks it's her,,, the husband never did fess up, nor have many other Billionaires who profited in the B's from the Made-off dealings.

rich - 100M to 500M - if you think you feel rich and don't have 100M in the checkbook, think again.

lower upper class - 50M to 100M - 50M in the checkbook !,, welcome, you can empty my ashtray and bring me a new cigar just for allowing you in the club,,, you newb pezz head.

upper middle class - 3M to 50M - so you think your rich...... be careful with that money, that lil' bit of cash can go whoosh in a second.

middle middle class - 1M to 10M - your on the edge of becoming poor and squarely in the target of OBAMA's distribution of wealth........

lower middle class - 100k to 1M - your on the edge of being generationally hosed.... see lower class, as you will soon join them via QE and bailouts to the Upper uppers..... thanks for the cigar suckers !

lower class - less than 100k,,, that below my line of sight,,,,, if you ain't got 100k in the bank I can't even see you. However I can tell you a few things:
1 - you will never, ever become rich, nor will any of your heirs, unless you invent a perpetual motion machine.
2 - your children will be poorer than you.
3 - thier children will be poorer than your children.
4 - rinse and repeat.


and as you say rono,,,,, most folks don't even realize how rich the new middle class are,,,, let alone the actual upper class........ cooked frogs,,,,,, c-o-o-k-e-d frogs.

 

all you did is redefine middle class to rich. gooberish at best.

 

ok, let me help you out...... if you don't have 100k in the bank, cash, disposable at whim...... then your poor in the QE2,3,4,5,6 economy.

 

"your poor". OK thanks.

 

np...

 

I accept the bank bailout and QE as necessary evils - just disappointed that a couple of billion wasn't allocated to a plan of prosecutorial decimation from all ranks in Wallstreet. Call it a witch hunt if you want but 1 in 30 or even 1 in 40 serving time in prison from that den of theives would serve notice and bring the rest of those crooks back to towin the line. And Made-Off - his scam was so far reaching into the citizenship of the country that I think he should have been prosecuted for treason.

 

Howdy farmer,

Wall Street white collar crime pays too well. Cripes, I can rip off $500M and get a $5M fine and 3-5 at a Federal farm IFF the gov't has their act together and I've been real dumb. figger, figger, figger. Let's see, I get to keep the $495M that's offshore and am out with good behaviror in 30 months . . . damn, where do I sign up?!?

If you really want to address this sort of bs, put these swine away for 10-20 hard and see how things improve.

peace,

rono

 

Not a darn bit, I'd bet. They're sociopaths. That means the fear of punishment doesn't exist for them -- their brains aren't wired for it.

Take a regular person, put electrodes on their fingers, set a timer, and give them a painful shock when it counts down to zero. They'll start to sweat in anticipation of the shock. Not the sociopath -- even when they know punishment is coming, it has no effect on them. They hate the punishment just as much as anyone else, when it's happening; it's just that they're incapable of learning from it, or letting its inevitability influence their behavior.

Locking away a particular sociopath keeps him from doing further damage to society at large. But it does nothing for the ones we haven't caught yet.

 

Dallas Fed President Richard Fisher said on Friday that “we did our job as a central bank. We may have overdone our job. We have done enough. We are at risk of doing too much. I don't believe we will". Fisher does not want to signal a rush for the exit but made his point. He went on to say that we have other structural issues that additional stimulus may indeed make worse and that he would not support additional accommodation.

According to the Bureau of Labor Statistics, Core CPI (inflation) in February was 1.09% from the previous February and this is a 15% increase from January’s year over year increase of .95%. At this rate of increase the Fed’s target of 1.5%-2.0% will be exceeded by late June.

Since QE2 (Sep), the DOW has risen from $10K to over $12K, an increase of just over 20% while unemployment has bounced around in the 9% range (excluding discouraged workers). There is no doubt that QE2 has had a positive impact on financial markets, and perhaps in halting a steeper slide in unemployment. However, considering some of these key indicators and considering the fact that these actions have pushed the debt over $14 trillion it is clear we cannot continue on this path for ever. In fact it seems we're digging a pretty big hole and I haven't even factored in the impact of unfunded liabilities.

I think this is why the US and many other nations are driving their currency lower (they do this to pay back debt with cheaper dollars) as a de facto, if not official, policy. In this environment, people and governments are looking for a safe haven to store/preserve their wealth. There are a range of options here including other strong currencies, commodities, precious metals and "safe" sovereign debt. I think PM’s will continue to do well in an environment where the US and other leading economies pursue currency devaluation as a means of “growing” their industry.

Regards,

Bluesboy65

 

Agree with the point that quantitative easing erodes the value of cash.

Bluesboy65

 

Agree, but some feel that CNBC is all doom and gloom; I see more cheerleading from CNBC. I find myself trying to read between the lines to get nuggets of truth and understand the details of the stats they offer rather than take their rose colored view of our economy. Not a harsh criticism of them just an observation.

Regards,

Bluesboy65

 

I agree with you for the most part except that the upper rich is more like in the trillions of dollars; the ones who have been collecting interest over the last 500 or so years. Even Bill Gates seems like a small fish in comparison.

I have always liked the analogy of the slowly cooked frog as a representation of incrementalism. If you drop him in a boiling pot he will (try to) jump out, but if you slowly turn the heat up over time he will get cooked and be none the wiser, might even enjoy it before it gets too hot.

 

middle class means average working people. not people halfway up the income scale.
ridiculous

 

Howdy folks,

Regardless of your definition of the middle class, it's being eliminated and the wealth is becoming more skewed towards the top.

There was a wall street banker, a state worker and a union guy sitting around a table with 12 cookies. The banker took 11 and said to the union guy, 'look out, that state worker's trying to steal your half of cookie!'.

peace,

rono