I have a very high-end, powerful source in the US government who has told me the economy is about to end. I kid you not. This very distinguished woman is trying to alert everyone to something no one is aware of, not even the Prezident himself. Which is: the entire working class of the United States is employed by the government and they’re about to lose their jobs.
Hang on a second, as I explain.
Do you know that hedge fund that you run, the money you manage for others?
That’s gone. Don’t bother showing up for work. Your offices will be shuttered.
Do you work on the television, telling great pornographic tales to the blue collared folk?
Work for free, else don’t work at all.
A mind numbing 170 million people will become unemployed at midnight, tonight. How’s that for starting the weekend on a good note?
On this mind boggling display of government malfeasance, expect the ratings agencies to smirk and tell you “I told you the government was retarded.”
Back to the 170 million, soon-to-be-unemployed: may God grant you the courage to carry on. Use the barter system to acquired canned goods and hope that your leaders, the men on drugs who vote on things in DC, will put you out of your misery and detonate nuclear devices over your respective cities.
Here is my source.
71 Responses to INSANE ACTS OF SEQUESTRATION ARE ONLY HOURS AWAY
Did you notice how sequestration already has the Pope in retirement. Truly this is far reaching.
and two interim bloggers.
If “Duck Dynasty” stays on TV no one will notice.
Maxine Waters for Prezident!
Muddy Waters For President
Every month that we do not have an economic recovery package 500 million Americans lose their jobs.
We have a new contestant.
Who will make it to $200 first?
Akman’s HLF position?
If what you say is true, aapl, isrg, goog, and even BRK/A will hit $200 in hours in the ultimate empire decline flash crash.
In 1994 taxes were 22% of GDP. They currently are 15% of GDP, due mostly to much lower rates on investment income.
Sane people think some tax hikes – especially in investments- are in order.
Why would any “sane person” want higher taxes?
Does the govt strike you are an entity that deserves more tax dollars?
Bomb- Many equally sane people will spend their own money more wisely, compared to how the government would spend it.
In 1776 we had no taxation without representation. Boston tea party started because the government taxed tea imports during an economic recession. Then from 1776 until 1940 less than 5% of the total population was taxes.
Guess which country became the greatest nation in the world during the railroad, industrial and automobile boom under these conditions?
But now America is a debtor nation, they pay taxes to themselves, and rather then lender of last resort, the fed is merely a political tool to increase the amount of interest it owes to itself all in the name of flushing more money into the system. Meanwhile, the government doesn’t really “borrow from itself” anymore because 40% of bond holders are over seas investors. That money will not return home via taxes, and a larger and larger percentage of interest will be owed until the government can’t possibly operate, nor collect enough taxes to survive. Eventually no one wil want government bonds and the average dividend yield will drop to 1% in stocks as prices are pushed higher and bond yields will skyrocket. At some point because of fear stocks may drop but I assure you long term that will be a buying opportunity….
More importantly, you must also keep in mind that Europe and Japan have greater problems that hit much sooner than the us, so capital will migrate from them and to the dollar because they collapse first. So we will still likely have one more major decline before we enter the secular bull market as capital flows out of bonds and into stocks. So protect yourself and survive until then and you will make fantastic wealth.
Less than 5% of population was taxed*
Look if you want your resources to be mismanaged into the ground, by all means, just buy YHOO. That’s much quicker
It’s not 1994 man.
No it isn’t 1994. We are currently spending $50 b a year on Homeland Security, $100 B a year on a prescription drug program, another $100 B a year on two useless wars and God only knows how much on CIA operations.
We need higher taxes on investments.
Spending needs to be cut in the right places, period. It costs hundreds of dollars to put a gallon of gas in a Humvee in Afghanistan, and that is a car, imagine the planes and tanks. That’s one idea don’t ask me for the rest I’m not a 55 year old Harvard Law Grad in DC. Raising taxes on investments will definitely cause a ruckus in the markets, and Goldman won’t be the only one cutting jobs. Banking loses everyone loses. 401k contributions drop, then jobs are lost and they drop some more.
Higher taxes on investment would hurt investment. Many people think we need more investment to create real jobs in the private sector. Growth of the government sector has to be contained. Gov’t never backs up. Even these “cuts” are still growth, just at a lower slope of increased gov’t spending.
That said, some big dollar dudes are being taxed personally at too low a rate. Arcane ‘legal’ schemes to run money out of Bermuda and LT cap gain rates on hedge fund manager income is absurd for people making $Millions/yr in personal income.
I think Fly must be in that category of paying the lower rate.
Everyone wants their own taxes to be low. Nothing surprising about that.
Wrong. We need less spending.
We should replace the income tax with a sales tax that include all items except food and gas. This way it will protect the poor, and hit the people who spend the most and thus still hits the rich, but doesn’t hurt those who reinvest their money into growth until they spend.
Don’t punish the people for earning money and discourage them from growing.
Instead reduce the size of the IRS to near zero and the sales tax will handle everyone. This way all the money made illegally will still be collected through sales tax. People making money in the mafia or gangs or selling drugs won’t report it. You don’t have to worry about tax evaders if you only tax purchases. Sure some people BUY things illegally, but ultimately those people use the money they get to buy stuff.
Sales taxes place an extra burden on the poor & create more poverty. The poor must spend all of their income to survive, so that means all of their income is taxed. Whereas wealthier people spend a low percent of their income.
Food banks can’t handle the demand right now. Regressive taxes like sales taxes, rather than income taxes, mean more starving children, plain and simple.
Did you not see what I said? Food and fuel and even housing can be added to the list EXEMPT from sales tax..
And if anything the government gets more income since the underground economy and tax evaders and rich with good accountants can’t avoid taxes in any way. Plus all the expenses cut from the IRS can go to help the people.
Or, you know, we could just stop all those things
We’ll all be out of work, but we all qualify for gov’t benefits getting gov’t checks–er, electronic transfers into our accounts. To keep the consumer economy rolling along.
Good to see Quentin Tarantino supports Madam Waters.
Don’t even need to see the source…fucking Maxine Waters
Black folk just want your money, that’s all.
3% across the board sales tax and deficit is done ! and so will be 0Bama.
they will put in creepers and give the economy time to adjust, just like the fiscal cliff crap. Sure WMT got pounded, people will adapt, just like they have with everything else i.e. homeland securioty hassles when travelling.
this is just a bunch of posturing and will blwo over like evryting else.
Set the rate on investment income at the same rate as earned income; eliminate all deductions, get rid of ALL sales taxes, raise the minimum wage to $12 an hour- and the deficit vanishes, as the economy booms.
Vladimir, the majority of people on minimum wage are college kids working at Starbucks on weekends. Therefore that money will go to drug cartels. Plus, the economy IS booming. The people can go get their reparations via AIG and BAC calls.
Raise the minimum wage and unemployment skyrockets as well as number of jobs outsourced to India and china and philipeans for $3 and hour. Pus if you have to higher in the US and you have a million dollars how many more people can you hire with the million with minimum wage at $7.50 vs $15? The amount of jobs would practically be cut in half at a lot of places.
I’m really glad your input doesn’t count in the tax discussion.
Why would you jack investment income taxes to the same level as normal income, when normal income is cash flow without any asset risk associated with it? Last I checked, I’ve never lost 30% of everything I own waiting for my paycheck to get deposited.
Its a warezone out there.
so buzy cant even type
Well, maybe there will be less traffic on the DC Beltway. Seriously, I think traffic, construction and general consumer buzz here is an indicator of the government waistline.
insane acts of castration are only hours away
Seq-castration only here to give hope to bears…. but -
It’s a bull market, you know.
of course DUST trade is still on
Hat tip to the Dr. for that Japanese call $EWJ
and thanks to my partner for introducting me to DECK that I bought fullishly and with out fear lol
No problemo, partner. More banking coin opportunities to come!
The next earnings hurdle is RIG. Our rules dictate not to add here before earnings and I won’t. Also, keeping my eye on SHLD for add opportunity as well. I wish people would come on here and discuss stock ideas instead of politics. We’d all make more coin!
I’m staying home today for fear that riots will take over the street because everybody lost their jobs and the food stamps will not be sent thru the mail.
Whatever will we do Huckleberry?
Master Fly is the one who told me I should only short to look to buy at lower prices. I am still thankful for that advice.
There are lots of hungry people, but the market has not noticed so far. It’s a “Let them eat cake” market.
The amount of poverty as a percentage of population has declined drastically over the last 100 years. Sometimes there are cycles where crops don’t grow as well in the summer, but predominantly poverty declines over time as technology and business grow and are able to feed more and more people at lower and lower costs.
Of course, compared to 100 years ago, things are looking up. But compared to 10 years ago, poverty is going back in the other direction– now going back up. Rich are getting richer & poor getting poorer. Middle class is shrinking. More hungry children.
And as the video review I posted previously shows, yes we are ABLE to feed people. We just don’t want to do it. We want hungry children to pull themselves up by their own bootstraps– but somehow we haven’t noticed that they are barefoot.
And the welfare programs promote population growth in the mot impoverished area of the world. In the 60s when LBJ passed welfare reform the LARGEST recipient were unwed single mothers. As a result, women in poor communities with minimal jobs available, noticed their best bet to come up with more money was to get pregnant. Look at the numbers of population growth before and after and y will notice it absolutely skyrocketed in impoverished areas. Crime in impoverished area also shoots up because people have no choice but to resort to the drug trade and get rich or die trying. Welfare doesn’t give people enough money to create housing demand and stimulate any kind of growth in jobs and boost the economy, so instead it just impoverishes more people, prohibits growth through taxes, forces government to come up with idiotic things such as payroll taxes which limits the incentive for businesses to hire, and less people get employed and more people become welfare recipients and the cycle continues until the government can’t afford to operate and becomes like France, chasing the rich out of the country and preventing any global job growth in its country. Then socialism doesn’t last because you run out of other people’s money,
There are things called charities that can raise money for those in need in a healthy economy. Humans are still compassionate. But ultimately a government ran charity simply cannot last because in order for them to operate they sell bonds to foreigners who will never return the cash nor can they tax that cash until eventually the government income drys up. They can raise the bond yields when they need to to attract more moneys, but eventually like a variable rate interest rate on a loan, the amount of debt owed will skyrocket like it did after the Volker rate hikes. Of course yields will be low since Europe is in crisis from their social programs that they now can’t afford to finance so capital will migrate into US bonds for the time being keeping the rates low, but ultimately government run charities run into problems and can’t sustain themselves when they are limiting private enterprise growth in the US.
Not to mention they have zero oversight and almost no audits.
Some of the sloppiest, possibly most unethical shit I’ve ever seen has been while hanging out with non-profits.
I guess you must be happy that we are doing so much better now– and you must hope that we keep going in this direction, so we can and get rid of the poor and the middle class through starvation.
“The richest 400 Americans, for example, increased their wealth by 54 percent between 2005 and 2010, while the median middle-class family saw its wealth decline by 35 percent.”
Of course that’s not true. Do you believe that bullshit that anyone who disagrees with you wants everyone dead, or did you just run out of actual logical arguments that you had to reduce yourself to making ad hoc attacks and implying that if people disagree with you they lack compassion?
There are around 105 million working age adults in America. By my count, that puts unemployment at 160+%. EVERYBODY PANIC.
You’re all retards. Cut your government waste – there is tons of it and you won’t have to lose a single program. Raise the tax rate on investment income regardless of source. You get to write it off if you lose money yes?
In Canada, we pay more taxes than you do and yet our economy is doing just fine – other than when you fucked us with your retarded housing market bubble. I love money and I don’t want to share it but I put this premise forward – your economy is driven by consumer spending – the bulk of that consumer spending comes from the middle class – if the middle class has no money, there is no consumer spending and other than shorting AAPL to zero yer fucked. So, close some tax loopholes, listen to Warren Buffet and tax some of the richer dudes and cut the shitty programs – it isn’t that hard.
Let’s see how your own housing bubble plays out before we get too judgemental, yes?
We may have a small bubble but the banking regulations are so different up here as far as mortgages go and what people are allowed to go into debt for that it is very unlikely to be anywhere near as severe. Having said that we too have our share of retards that will stretch themselves to the limit and be exposed to the winds of change. Since Darwin is dead and stupid people don’t get eaten by bears (mostly) the only remaining punishment is financial.
Don’t get me wrong America can be a wonderful place but you have a larger population and therefore more stupid people that can do more damage.
As noodleboy said, we don’t need houses, mostly live in igloos and my laptop is powered by a polar bear running on the ever shrinking ice pack!
How’s the Canadian beaches?
Beaches are pretty damn cold and mostly covered in snow. We welcome global warming….yeah some polar bears and seals are in tough….but we have one of the world’s largest fresh water supplies and once it warms up, we will be the bread basket for the world. Go long on argo stockss…..and wait about 25 years…..
Comon now, us Canadians don’t feel emotions. We’re all like Wolverine up here, and don’t even need houses.
Quote of the day:
“I’m not a dictator,but I play one on TV”
All I can say is you better get use to it. The far left will be in power for years to come. We are Argentina. Better start making exit plans while everything looks peachy.
Nah, political winds change in an instant. Buck up…we’ll be back to neo-con warfare before you know it.
Out here in the real world (read: taxpaying private employer & company), on lunchbreak. Here’s a clue for all of you: NOONE THAT HAS A JOB FROM THE PRIVATE SECTOR FUCKING CARES ABOUT SEQUESTRATION. 99 of 100 people don’t have any idea what it is and it makes 0.0 difference in their lives. Carry on.
If this Rep. can get off cue cards (i.e. onto teleprompters), could she be the next Prez?
That’s not saying I’ve lowered standards for the United Steaks to 4th world status… yet.
The solution is clear. Legalize all drugs, gambling, and prostitution with a Constitutional amendment, tax it heavily. Back of the napkin calculations is that this would raise over $900 Trillion in taxes per hour as Joe Sexpot forgoes his lunch break for a blowjob, snort of coke, and a roll at the craps table, betting the Field of course. Don’t over complicate things guys, the solution is clear.
gambling is legal though as long as you are over 18 or 21 depending on location. It’s the online variety that isn’t.