Daily Video Update: Is Global Gloom Setting In?

5 thoughts on “Daily Video Update: Is Global Gloom Setting In?”

1. A Federal Reserve owned by the creators of trillions of sub-prime dollars while propping them up by buying hundreds of billions of near worthless bonds held by these institutions surely has the whole financial system near the brink. Whatever Bernanke learned at Harvard has not worked for the middle class who are now subject to these bankers picking their pockets endlessly. The destruction of the manufacturing base, removal of the Glass-Stegull act (by Mr. Greenman, Bunny Frankfurter and Cash Crash Dodd), allowing derivatives and stock trading by the commercial banks and trillion dollar handouts to the huge casino banks does not bode well for anybody except those that have benefitted from the Fed generosity.

   Housing which has traditionally been a most important driver of the economy was totally ignored by the Fed money creators resulting in a continuing crash in housing assets. These losses reportedly exceed $5,000,000,000,000 (five trillion) since 2006. Added to this will be the huge sums sucked out of the stock market through flash trading, where a stock might be held for minutes and still taxed at a 15% federal long term capital gains rate (good for uncle but not for long term investors).

   In addition to this mess we have an explosion in bureaucracy, administrative laws and regulations driven by self serving public servants. Massachusetts is considering a 1/4 cent per mile tax on top of the gas and fuel tax. The vehicle information will be collected in a GPS chip attached to the annual inspection sticker and downloaded at gas/fuel stations.
   This will, of course, include GPS data so the Masster Snoops will have access to the driving habits to share with anyone they can squeeze a buck from. This is obviously not a clever way to generate revenue as they could easily jack up the consumer by simply adding a few cents to the gas tax for which they already have a system in place. That is simply to easy for these misfits as they feel their job is to create tax payers by instituting another bureaucracy. I'm sure they can rob a few bucks from the human services budget for seed money.

   God Bless America!

2. Junkie America

   Elvis, Micheal Jackson and Hitler,
   as different as they could be.
   All had a Dr. Feelgood, to help
   them face the crowds.
   All were first empowered then destroyed
   by the drugs that warped their minds.
   America now has its own Dr. Feelgood,
   the Great Federal Reserve.
   And the favorite drugs are credit and
   paper money to pacify the masses.
   The people scream for jobs, health
   care, schools and bridges.
   The politicians have to listen,
   or they will be gone tomorrow.
   Pay for this, aloocate for that, lower
   the interest rate some more.
   Then people can buy more pretty things,
   with money from our children.

3. SOONER or LATER, VERY LIKELY LATER, the bankers and the politicians are going to be FORCED to confront the reality of an economic axiom: TRUE WEALTH AND PROSPERITY CAN NOT BE CREATED BY PUMPING PRINTED MONEY INTO AN ECONOMY AND/OR BY INCREASING DEBT. The "Economic Recovery" charade will come to an end and the inevitable long feared CORRECTION will set in. Untill then, everything will continue to fester in an unpredictable manner.

4. Very low-volume presentation today. could barely hear Adam. Maybe poor electronic connections.

   1. Scharr,

      Volume should be better tomorrow. We made some adjustments to his equipment today.

      Best,
      Jeremy

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