That's OLD news, you want up to the minute financial info, checkout kitco.com, harveyorgan's blog, Lauren Lyster on youtube, and for really radical truthful financial news, Max kieser (small doses only). and of course zerohedge, eric sprott, marc faber

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Closing the store
Benzbonz.biz on your smart phone or tablet.

Nay, sir. Conservatism used to be the complement of radicalism. Conservatives wanted only gradual change, or no change at all, while radicals want sweeping even disruptive changes. But as is the case with any self-proclaimed label, it's meaning has drifted over time. These days, so-called social conservatives want us all to abstain from anything that might be fun. They want everyone to adopt the one true moral code (their own). They often masquerade as Fiscal conservatives in an effort to try and get libertarians to love them. Fiscal conservatives, of course want to reign in spending. Of course, there's no rule that says you can't be both stingy, and dull; but any time you see that, it is a mere coincidence, and not a causal factor.
I like Turd's blog too, but lately it's kind of gone over the deep end. I also like Screwtapefiles and I'm not sure I trust Sprott so much these day (I'm not sure I ever did.) I also like Bron Suchecki's blog. FOFOA is another good one. Also, be careful what you read about gold on ZH. News and rumors fly through there very quickly.

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Remember, Safety Third!
'99 E300 Turbodiesel, '82 300TD, 1996 12V Cummins Turbo, '94 Neoplan - Detroit 6V92TA

Gentlemen, if they had only managed to send each of us members a paltry million apiece. We could have been on their side. When will they ever learn?

Seriously though one has to wonder who is really holding the fort down if anyone..Or really how bad are things really out there? This does go way beyond the prime morgage issue alone in my opinion.

Now...Let's get back to a real discussion.

$16T given out by the Fed, and we are $16T in debt...interesting how both of those figures are the same.

Here's where I do a bit of backtracking...De-regulation, which I was for in the beginning, seems to be what caused the most of the issues. Most of the de-regs started under Clinton, continued under Bush and added to his spending, and stopped under Obama, but the spending continues.

Here's the question...do we bring all the regulations prior to Clinton back, or do we re-write what used to be there to allow some of the de-regulations to continue??

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1987 560SL
85,000 miles

One constant is if I own a small business and something new is not working. I retrench if possible to what was working. Thats if I have a brain. Then I may try another approach from that position at some point. Always retaining in the background what works and keeping it accessable and fresh enough to utilize again.

To governments this approach seems to them like an admission of failure so instead they plunge ahead with plan X. When that also is a failure then they go to plan Y.

Eventually thet cannot even remember what worked originally at all. Large companies are also found to do this often enough to be an issue as well. I too found it very strange that the amount of sixteen trillion dollars of potential givaways by the fed equalled the national debt. Coincidence is not that likely from my lifes experiences.

The only other issue with todays more creative accounting methods. One has to wonder if the quoted figures are a true reflexion of reality.

All that has happened with me is that I am becoming more certain all the time. That I was not wrong a few years ago when I suspected a period of really serious inflation lies before us. I see it as innevitable as long as I discount the chance of economic collapse. In my humble opinion they will run inflation as a preffereable option..Either one has serious reprecussions on the individual. They will have to do something and their choices are geting very limited in my opinion.

If you open the door to allowing some of the previous regulations to fall by the wayside, you're asking for a political/lobbying fight that will make the one over AHCA look like your six year old daughter's pretend tea party - everyone's going to have their pet regulation they want to do away, until you're left with essentially nothing.

There's one thing that really pissed me off - Bush's Treasury Secretary, who went to Congress and literally tried to blackmail/order them to bail out the banks - was one of, if not the, chief architects in getting Glass-Stegall repealed under Clinton - one of the very guys that helped cause the whole debacle, then sitting in front of Congress ordering them what to do to fix it.

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Just say "NO" to Ethanol - Drive Diesel

Mitchell Oates
Mooresville, NC
'87 300D 212K miles
'87 300D 151K miles - R.I.P. 12/08
'05 Jeep Liberty CRD 67K miles
Grumpy Old Diesel Owners Club

OBEY, the beer summit !

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1979 300D 220 K miles
1995 C280 109 K miles
1992 Cadillac Eldorado Touring Coupe 57K miles SOLD
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1979 240D 140Kmiles (bought for parents) *SOLD.
SAN FRANCISCO/(*San Diego)
1989 300SE 148 K miles *SOLD

Layback is a VERY observant fellow! We are borrowing it for our grandchildren to pay back so that we can give it away to people who won't work.

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

Yes, if GW and his Bozo bean counter had just let the free market continue its course, we would have already climbed out of the rubble by now.

Don't forget that B.O. was ALSO in favor of the bail out and has piled on even more of this nonsense in the form of "stimulus." It's still not clear what he stimulated..... oh yeah, it was those shovel ready jobs that even HE admitted later weren't shovel ready.

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

Unfortunately, this is one issue where dems and the national repubs are one and the same. GW was no conservative--maybe he was a social conservative, but fiscally, he was not much different from Obama, or Pelosi et al.

Poor fiscal management needs to suffer the results of its own incompetence-as well as the results from good management. Removing either one kills the balance that is capitalism. Removing both is an open invitation to the few benefitting as the masses pay.

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

From what I'm hearing, QE3 may already be quietly underway.

So far, the assumption in this thread seems to be that $16T in Fed "loans" = $16T in national debt.

What if it's $16T in Fed loans + $16T in federal budget debt = $32T in national debt?

Comments?

__________________
Just say "NO" to Ethanol - Drive Diesel

Mitchell Oates
Mooresville, NC
'87 300D 212K miles
'87 300D 151K miles - R.I.P. 12/08
'05 Jeep Liberty CRD 67K miles
Grumpy Old Diesel Owners Club

The upside is that it may stimulate folks to become better educated in the ways of math, for richer or poorer !

__________________
1979 300D 220 K miles
1995 C280 109 K miles
1992 Cadillac Eldorado Touring Coupe 57K miles SOLD
********************
1979 240D 140Kmiles (bought for parents) *SOLD.
SAN FRANCISCO/(*San Diego)
1989 300SE 148 K miles *SOLD