Bank stocks are suffering a miserable death today, thanks to a flattening yield curve, spurred on by the deflationary vortex we find ourselves in. On the other hand, gold and silver stocks are soaring.
Look, Janet Yellen is the Stalin, the Mussolini of our times. She is a deranged psychotic, who is incapable of empathy. Her band of morons at the Fed, all learned men but morons nonetheless, are trying to remain relevant by raising rates. Otherwise, what is their job description, exactly?
The truth is, the 19 trillion in national debt is the real problem here, the reason we’re bogged down, unable to invest in infrastructure projects. Unfortunately, there’s no way out from it, short of defaulting.
Maybe something will pop up, some unforseen avenue of growth, that will help us crawl out from under this burden. But, it’s not only our burden. Almost every single developed nation in the world is plagued with mountains of debt, record amounts. A massive restructering of the debt will need to be ironed out, one day. By that time, I intend to be living on a different planet, unexposed to the wrath that will be gripping your planet.
Until that day happens, enjoy these 250 point down days, for they will feel like up days compared to what’s coming.
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You have your chance in NFLX now.
They’ve got that student loan $ coming in
we are now Japan, circa 1990 – 2013
if we are japan, who is japan?
always been in a league of his own
We go higher from here
Regards
Chuck Bennett
Thanks for your perspective, Lucifer. Always glad to hear from U. How R things going, over in hell?
“Unfortunately, there’s no way out from it, short of defaulting.”
The history of the tax code indicates otherwise.
If you are worried about the high debt and low inflation, PRINT the damn money! We need a DEVALUED dollar!
Send everybody who filed a tax return last year a check for $2000. What’s the problem?
This would also stimulate consumer demand while DEVALUING the dollars we owe!
It doesnt’t take any Eintein to figure this stuff out!
Adding to VFH today. I hate the financials.
The Fed is clueless and the only thing that can save us now are aliens.
The Fed folks experienced a lot of inflation during their youths. They just haven’t noticed that inflation has not been a problem for decades now. However people grow up, most people think that that is how the world is & always will be. See article about inflation during the time when most Fed members were growing up.
http://www.nytimes.com/2015/09/14/upshot/which-fed-leaders-fear-inflation-look-at-when-they-grew-up.html
Classic Sandwich Day.
The 19 trillion in national debt does not keep us from investing in infrastructure projects. If it did, then we would not be able to afford all these senseless wars in the Middle East– where the U.S. plants itself right in the middle of somebody else’s stupid civil war.
We can always afford to enrich the military industrial complex, to give out subsidies to Big Ag, Big OIl etc., and to enrich all kinds of other crony capitalist welfare queen companies that get government contracts to do things that no one needs done.
If we can afford all that, then we can afford infrastructure.
No one in Washington is the least bit concerned about the national debt– not even a little bit. Some say that they are concerned but it’s just political posturing. The only disagreement in Washington is on WHICH projects to spend humongous amounts of money on, thus making the debt balloon larger & larger.
The USA water and sewer systems and pipelines are in horrible shape.
We should be spending $200 billion a year to update them.
The stupidest question asked in Washington is “How are you going to pay for it?
The answer is: BORROW IT at today’s absurdly low interest rates.
Somehow we can only borrow money to get right into the middle of other countries’ civil wars, thus making those wars last forever.
Thank God there weren’t wealthy countries bringing all their expensive military equipment & soldiers into the middle of our own Civil War in the U.S. If there were, we would still be fighting it to this day.
My God the Fly is becoming bearshitterish , most bearish post ever for what I can rmember..and I read the Fly even before the PPT….
SHAKE N BAKE!
https://www.youtube.com/watch?v=yp0-ufyIJtE
Wow, so far the Devil was right today. Thank God for the Devil, LOL.
Eliminating the mortgage interest deduction alone would generate considerable increased revenue for the treasury. And it should be eliminated, the sooner the better. All it did was help inflate the real estate bubble.
If the special interest groups who have bought & paid for Clowngress could make a big profit from the mortgage interest deduction disappearing, then it would have disappeared already.
Apparently they make more profit by keeping that deduction in place, so it stands. The government in the U.S.– and its taxpayers– seem to exist in order to enrich & help crony capitalist pig corporations that feed from the public trough.
Oh, no doubt the mortgage deduction benefits the banking lobby as the offset goes into increasing RE prices which results in bigger loans. But, eventually, the govt is going to need more money. Pretty good bet that they put their needs ahead of special interests, then.
I don’t think so. The government & the people feed the special interests, not vice versa. The government doesn’t exist except as a tool of special interests. The government obviously doesn’t mind at all if special interests drive it into bankruptcy.
“The government” is a bunch of people who are paid big bucks in campaign donations, to do the bidding of special interests, even if it means the country goes into bankruptcy.