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Old March 30th, 2009 #541
Axel Faaborg
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Originally Posted by Zenos View Post

I thought this was funny. At 10:39 Central the Nasdaq is at 1488.28
SIEG HEIL!!! hahaha.

Perusing FOX News for my daily laugh, I notice that they have a special "DOW WATCH" box on the screen. Fits right in, considering the horrendous, unaesthetically pleasing mass of crap that they fill most of the screen with normally.
 
Old May 22nd, 2009 #542
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20 May, 05:41 PM
Quote:
Unemployed residents temporarily took over the town-hall of a north Russian city, protesting against heating and hot water supplies being cut off.
Half of the working-age residents of Pikalevo, a city in the Russian Leningradsky Region near St. Petersburg, have been unemployed since winter, when major city industries – BasElCement concrete producer, Pikaleva Alumina and Metakhim – closed down, Bfm.ru website reported on Wednesday.
Trade union leaders told journalists that there is currently a famine in the city and residents have been forced to eat dogs.
The Wednesday storming was prompted by the shutdown of heating and hot water in the city. It appears that this month BasEl, which normally pays for heating and hot water, failed to provide the payment on time.
The city authorities were discussing the situation inside the town hall, when the crowd that had gathered outside the building stormed in.
Protesters broke down the door, and rushed to the mayor’s office, where they started demanding the hot water be turned back on.
Soon the security guards drove them out of the building, and the rally went on outside.
http://www.mosnews.com/society/2009/05/20/pika/

Don't think this shit can't happen in da Kwa. Big jew has just about sucked the life out of the Kwa, time to move on...
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Old May 23rd, 2009 #543
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In short, the people with real money who have been played for patsies have had enough, they're angry, and they're sidling toward the door because they have detected the obvious: The curtains are on fire.
I and a few others have written about this now for, oh, since The Ticker started operating.
Simply put the mathematics make it virtually impossible for The United States to meet Timmy's claimed goals, unless they can manage to hold down interest rates - permanently.
This can't be done, because as you tamper with rates you create inflation fear, which of course drives rates the other way.
This is the conundrum that Bernanke faces now. "Quantitative Easing" is at its core the printing of money and monetization of sovereign debt, which is a raw attempt to flood the market with money.
Inflation fears in this regard are somewhat misplaced, because there is a black hole of defaulting credit into which one is attempting to issue, but it is perceptions that count in a fiat currency world, and the perception in the market is that The US Government has lost control of its deficit and budget process, and The Fed has lost control of the money supply.
Remember, demanded interest rates (by any lender and to any borrower) are a synthesis of the following:
  • The risk of inflation.
  • The risk you will not get paid back.
  • The return available in other assets.
There have been all sorts of rumblings about reserve currency status for the dollar, and they're not new.
But what's troublesome is that estimates of the deficit continue to skyrocket, and now stand at more than $2 trillion for 2010, which is a nearly 30% increase in just a few months.
These numbers make George Bush's deficits look like chump change, and the problem isn't so much the number as it is the direction and velocity of change.
As government continues to deficit spend they inevitably "crowd out" private borrowing and spending, as taxes must rise dramatically in order to fund the spending.
Treasury has responded to these pressures by shortening duration which makes the intermediate and longer-term much worse, because now you get to add "rollover risk" to the picture as well. Currently, the $12 trillion or so in US Debt has an average duration around 4 years - the shortest on record. This has been undertaken in an attempt to manage interest costs, but that game cannot continue forever, and when it reverses it has the risk of doing so at breakneck speed, dramatically increasing interest cost for the government and doing even more budgetary damage.
Simply put, America's choices for government at the federal level is unsustainable; the ability and demand to spend in a deficit-ramping fashion on a sustained basis, as has happened every year since WWII, cannot continue.
There are solutions but they're bitter medicine: The Treasury must be refilled, deficit spending must cease, and those private parties that have led us into this mess believing these would be rescued with public funds must instead be left out in the cold.
http://market-ticker.org/archives/10...nder-Fire.html
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Old May 23rd, 2009 #544
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MAY 23, 2009
Tennessee Residents Compete for Work They Once Scorned; An All-Night Wait for Slaughterhouse Shifts

By MIRIAM JORDAN

SHELBYVILLE, Tenn. -- Hard times recently drew scores of locals and immigrants to a cold sidewalk in this town, where they spent an anxious night waiting to compete for jobs in a slaughterhouse.

Burmese refugee Cho Aye traveled 60 miles from Nashville on a Thursday morning in late March to take a place at the head of the line outside Shelbyville's state employment office. The next day, the office was to take applications for $9.35-an-hour jobs processing chicken at the local Tyson Foods plant. Directly behind Ms. Aye, sitting on blankets atop the concrete, were 16 more Burmese refugees who had come from as far away as Idaho and Florida.

"I don't mind doing any kind of work," Ms. Aye, a petite 22-year-old, said that evening as she settled into a reclining beach chair she bought at Goodwill.

Farther back in the line, marked by orange tape and monitored by police, locals like David Curtis seethed. "This is the worst job I have ever applied for," said the 31-year-old welder, who had already failed to find work at a convenience store, a pen factory and a Pizza Hut. Eyeing those ahead of him, he added: "I'm very annoyed foreigners are taking jobs that Americans need."

Slaughterhouse jobs can be difficult and dangerous. Now, with U.S. unemployment at a 25-year high, they are also fiercely coveted. American workers -- who for years have largely avoided fruit-picking, office-cleaning and meat-processing shifts -- are increasingly vying for these jobs with immigrants, creating flashpoints in places like Shelbyville.
Shoving and Cursing

The rising friction has been on display at the employment center here. When Tyson put out an earlier call for applications, in February, shoving and cursing broke out between locals and immigrants jockeying for position at the head of the line. With too few jobs to go around, outraged locals demanded that the work go to residents, not immigrant workers from outside Shelbyville.

Tough Times in Tennessee

Shereen Bakhit, of Egypt, moved to the U.S. last September after winning a U.S. government immigration lottery. He has applied at many places in the greater Nashville area, but has yet to find a job.

"The despair is new," says employment-center worker James Cupp. "People need jobs."

Meat-processing work tends to pay more than fast-food or retail jobs, and the jobs on offer in Shelbyville come with benefits. But such work is strenuous. In modern-day poultry plants, hundreds of workers stand elbow-to-elbow at conveyor belts, donning earplugs and wielding knives or scissors to debone, slice and snip raw chickens. The tasks, often done at a frenetic pace, can strain wrists, arms and backs.

With annual turnover running as high as 100%, slaughterhouses have long had more openings than they could fill locally. While the industry doesn't track workers by their place of birth, the number of immigrant workers appeared to rise in the recent boom years. As a spate of federal raids earlier this decade underscored, many plants had hired, sometimes unknowingly, illegal immigrants en masse.

Now such plants are reporting a surge in applications from U.S.-born workers, says the American Meat Institute, which represents beef, pork, veal, lamb and turkey processors across the U.S. Outside Phoenix, a metropolis that helped define the recent building boom, college-educated Americans are applying for jobs at the JBS SA beef-processing plant, says human resources vice president Bob Daubenspeck.

Tyson, too, reports that it is getting more applications from local residents at its facilities across the U.S. At its Shelbyville plant, human resources vice president Ken Kimbro says job inquiries are flooding in from locals -- "people who traditionally didn't seek us out."

Tyson says its working areas are clean and brightly lit, and much of the cutting and wrapping is done by machine. A company spokesman says hourly pay ranges from about $9.00 to $12.50, with medical, retirement and insurance benefits kicking in after three months of service.

The battle in Shelbyville reflects not only American workers' reversing fortunes, but also the shrinking opportunities for many immigrants. President Barack Obama and leaders in both parties have said they hope to vote on comprehensive immigration reform. Lawmakers who take a strict line on illegal immigration, such as Texas Rep. Lamar Smith and Alabama Sen. Jeff Sessions, both Republicans, have said legalizing undocumented workers would hurt American workers during an economic downturn.
Cuts in 'Sharpieville'

A town of 18,000 in Tennessee horse country, Shelbyville is home to pencil producers, graduation-announcement manufacturer Jostens Inc., and a factory that makes Sharpie markers -- for which the town was once dubbed "Sharpieville."

Musgrave Pencil Co. and other pencil-makers have recently pared jobs. Auto-parts supplier Summit Polymers mothballed its plant here late last year, leaving 260 people jobless. And Sanford Corp., a unit of Newell Rubbermaid Inc., will shut down its Sharpie production here later this year, resulting in a net loss of about 175 manufacturing jobs. More than one in 10 people in the county are now out of work, double the level from a year ago.

One of the few places still hiring is Shelbyville's largest employer -- the sprawling Tyson factory between West Jackson and Pencil streets, which employs 1,400 people and processes 1.3 million chickens a week.

Tyson has long had near-constant openings here, with many jobs going to immigrants. While the company doesn't track the proportion of its labor force that is foreign, a spokesman says the Shelbyville plant employs people from the Middle East, Asia and Africa, including about 200 from Somalia.

At the start of a shift on a recent afternoon, African women wearing purple, red and brown hijabs, Muslim headscarves, emerged from cars in front of the plant. African immigrant men, as well as Asians and Latin Americans, streamed through the gate carrying their belongings in transparent shoulder bags.

As recession crimps worker mobility, new jobs here have become scarce, fueling the shoving match at Shelbyville's employment center on Feb. 9.

Well before the state-run agency opened that morning, officials from churches and refugee resettlement agencies had transported several vanloads of Asian and African applicants from Nashville. An Egyptian minister ferried a group of congregants from a Coptic Christian church. More than 200 people converged outside the office overnight.

Tyson had asked the agency to take 100 applications, state officials say. When the doors opened, job seekers jostled to get inside. Resettlement agency officials say disgruntled Americans tried to cut in front of the foreigners. Locals blame the foreigners for starting to shove. Police were called to restore order. No one was arrested.

Fingerpointing began. Some locals blamed Tyson, commenting on the Web site of the Shelbyville Times-Gazette that the company receives a subsidy for hiring foreign workers. (The company says this isn't true.) The Times-Gazette itself faulted Washington. In an editorial, the paper argued that the government gives foreign-born applicants an unfair edge because it gives taxpayer dollars to nonprofit organizations that help settle refugees -- including groups that bused refugees to town to apply for jobs.

Local politicians joined the fray. "I don't mean to be discriminating [against] black, white, Hispanic," says Eugene Ray, the mayor of Bedford County, which includes Shelbyville. "I want the local people to have the opportunity first."

The county mayor called a meeting with Tyson management at his office. All six city council members visited the plant to voice their displeasure.

Tyson countered that hiring Shelbyville residents first "would be discriminatory and in violation of equal employment law," according to a letter to the Times-Gazette by Tyson complex manager Wally Taylor. "About half the people we have hired over the past six months applied as a resident of Bedford County," Mr. Taylor added.
Living With In-Laws

The employment office was charged with taking more applications for Tyson on Friday, March 27. Groups of immigrants began arriving in vans as early as 8 a.m. the day before -- first Ms. Aye and the 16 other Burmese, followed by Egyptians and Africans.

Driving by in his pickup on Thursday afternoon, Brian South was surprised to see a line already forming. The unemployed Tennessean, who had planned to head to the employment center at 5 a.m. the next morning, drove home and packed up some ribs his wife had cooked. At 6:15 p.m., he took position No. 31 behind the "Line Forms Here" sign.

Mr. South made $26 an hour as a bricklayer before losing his job in October, he said. Because he was self-employed, he couldn't collect unemployment insurance and soon lost his home. Now living with his inlaws, Mr. South has been visiting the employment center often.

"There's nothing -- nothing at all," Mr. South said. "For me to apply for a job like this is killing my pride."

Police officers checked in seven times over the course of the night, according to department records. The mood was civil.

"Do y'all like country music?" an American in an orange baseball cap asked the huddled Burmese, who chuckled. Another offered the immigrants beef jerky snacks, which several Burmese accepted.

"They've been doing jobs we wouldn't do," Scott Hunter said, surveying the immigrants in the line. "Now the economy is so bad, we're all willing to do them."

As midnight approached, Ronald Eady squirmed in a folding chair. "Man, I'm staying in line all night for this job," said Mr. Eady, 45, an out-of-work trucker who said he's been checking almost daily with the employment office about the next Tyson call. "I gotta eat, and I got a three-year-old son."

Shortly before 8 a.m., the line snaked around the side of the employment-center building and into the parking lot. About half of the hopefuls were Americans, mostly from the area. Four policemen stood guard over the single-file line. It started to rain.

Mr. Cupp, the employment official, stepped outside and told military veterans to enter first. One man stepped forward. Applicants entered in groups of 10, until about 100 shuffled through the center.

Around a table in a conference room, Ms. Aye filled out her application and helped several other Burmese with theirs. Ler Gaw Shee, 36, who had come from Boise, Idaho, meticulously penned his brief U.S. employment history: a janitor at a home for the elderly.

In a separate room, Mr. South, the bricklayer, and Mr. Eady, the truck driver, completed their forms. Nearby were eight Egyptians who had recently moved to the Nashville area after winning a congressionally mandated lottery that awards resident visas to citizens of countries with low rates of immigration to the U.S.

One of the Egyptians, Shereen Bakhit, said he was back after applying for a Tyson job in February. Trained as an accountant, Mr. Bakhit said he was going on six months without work.

"I thought I would find good everything" in the U.S., said the 38-year-old father of two. "Not anything good: No money. No job."

By 9:30 a.m., a police officer informed the 60 people waiting in the driving rain that applications were no longer being accepted.

"I was born and raised in Shelbyville," said one of them, Derrick Jones, a 36-year-old father of four who says he lost his job stocking vending machines last year. "I should be at the head of the line."
Evening on 'Wing Line'

Over the next month, calls to applicants trickled in from Tyson. The employment center says 51 of the applicants it referred were hired.

Those included all but three of the 17 Burmese applicants at the front of line. Ms. Aye said she was working the second shift -- roughly 4 p.m. to midnight -- on the "wing line." She examines machine-cut wings as they pass by, she explains, snipping some to shape and removing pieces that aren't cut right.

Fellow Burmese Mr. Shee, the former janitor whose family still lives in Boise, was giddy. "I go to work every day. I am very happy," he said. "My wife and kids [are] coming in June."

The Tennesseans toward the front of the line landed jobs, too. Mr. South, the former bricklayer, initially described his new job as "a blessing." But a few days later, he said, he flunked a Tyson drug test. He blamed medication he takes after three shoulder surgeries. He's doing odd jobs now, building brick steps and pressure-washing houses.

Mr. Bakhit, the Egyptian accountant who tried twice for a Tyson job, wasn't hired. On a recent day his wife, Erien Fanous, answered the phone, her hopes deflated after she realized the call wasn't from Tyson. "Seven months he no working," she said. "It's very difficult."
http://online.wsj.com/article/SB124303310871748603.html
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Old May 23rd, 2009 #545
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Default Deflation possible. The "kooks" predicted this. See Robert Chapman.

Quote:
MAY 23, 2009
By JACK HEALY

The dollar was on a roll just a few months ago, bounding higher against foreign currencies as investors sought a safe hiding place for their money amid a global downturn. But now, many are rethinking their decision to buy American.

The dollar skidded to its lowest point in five months this week, battered by creeping fears that Washington’s costly efforts to stimulate the economy are growing harder to finance and may set off an unwelcome bout of inflation. Analysts are increasingly concerned that a rise in prices could hurt consumer spending, deepening the recession.

The dollar fell more than 3 percent this week, weakening to $1.40 against the euro on Friday and to $1.59 against the British pound. Experts said the flight to quality that made United States Treasury debt and dollar holdings so valuable at the height of the financial crisis was now heading for a rough landing.

“Those little footsteps coming down the hallway have begun to frighten many people,” said David M. Darst, chief investment strategist at the Global Wealth Management Group of Morgan Stanley. “The dollar has sold off inexorably, slowly but surely. The key thing driving it is psychology.”

The Federal Reserve is printing money from thin air, and the government is issuing trillions of dollars in new debt as it tries to spend its way out of the recession with a huge stimulus package, new lending programs, health care overhauls and automotive rescues.

Experts warned there might not be enough demand to sop up all those new dollars and dollar-denominated Treasury securities. That led investors to fret about the sustainability of the United States government’s AAA sovereign credit rating after the Standard & Poor’s ratings agency warned this week that the sovereign rating of Britain — which is spending hundreds of billions of pounds to engineer a recovery — is under threat.

On Thursday, the influential bond fund manager Bill Gross of Pimco said in an interview on Bloomberg Television that the United States might eventually lose its triple-A credit score.

The dollar’s sharp slide has renewed concern that investors worldwide were beginning to favor other currencies, foreign economies and commodities like oil and metals.

Stock markets fell modestly on Friday, adding to big declines from a day earlier, and demand for longer-term Treasury debt ebbed, pushing the yield on the benchmark 10-year note to 3.44 percent, its highest point in six months. The Dow fell 14.81 points, or 0.2 percent, to 8,277.32 while the broader Standard & Poor’s 500-stock index was down 1.33 points, or 0.2 percent, at 887.

Crude oil futures rose above $60 a barrel this week, and gasoline prices climbed to a nationwide average of $2.39 a gallon, according to AAA, the automobile club. The price of gold — a hedge against inflation — rose to nearly $960 an ounce, its highest price in two months, and investors also raised the prices of copper, wheat and corn.

Interest rates were higher. The Treasury’s benchmark 10-year note fell 22/32, to 97 9/32, and the yield, which moves in the opposite direction from the price, was at 3.45 percent, up from 3.36 percent late Thursday.

Only recently, the economy was veering into a spiral of lower prices and lower wages that economists feared would deepen the downturn. As prices dropped precipitously at the end of last year, consumers could stretch their dollars farther. But policy makers worried that a deflationary cycle would make consumers less likely to spend money if they constantly believed prices would be cheaper in the future.

Now, some are starting to warn about an economic beast called stagflation — the combination of higher prices and a struggling economy.

“The economy may be at greater risk of inflation than the conventional wisdom indicates,” Charles I. Plosser, president of the Federal Reserve Bank of Philadelphia, warned in a speech Thursday. He said prices could climb 2.5 percent in 2011, a higher forecast than the Fed’s expectations of 1 to 1.9 percent inflation.

Although the United States government officially supports a strong dollar, policy makers have let its value slide in past years because a weaker dollar makes American exports cheaper and more attractive. But a weaker dollar also makes imports — like crude oil from the Middle East — more expensive, raising the costs of energy and transportation.

“Everyone says a little inflation can’t hurt us,” said Martin D. Weiss, chairman of Weiss Research. “What they don’t seem to understand is, that’s inflation in a growing economy. Inflation on top of rising unemployment is another thing entirely. It’s much more painful, and it could be the straw that breaks the camel’s back.”

Some experts say fears of inflation and the loss of the dollar’s strength are overblown.

With the global economy in its worst downturn since World War II, and European banks facing up to $1 trillion in new losses from Eastern European investments, the euro may begin to weaken on its own against the dollar, they say. The United States remains the world’s default reserve currency, these experts add, and Treasury debt is still considered the world’s safest investment.

The Federal Reserve’s own forecasts call for inflation to hover in a “low range,” rising only about 0.6 to 0.9 percent this year. Consumer prices dropped sharply over the last six months as demand plummeted, and prices were flat last month after falling slightly in March.

According to the Labor Department, consumer prices in April were down 0.7 percent from a year earlier, their biggest decline in decades. Airline tickets cost less, gasoline is cheaper than last year, and retailers are still offering deep discounts to beckon consumers.

But while lower demand and a sluggish economy normally act to constrain inflation, some experts said the pressure on prices in the months ahead might be driven by economic activity elsewhere in the world, not just inside its biggest economy.

“There is growth in the emerging markets,” said Mr. Darst of Morgan Stanley. “There’s an international demand as well as a U.S. demand. The inflationary pressures are going to be coming from outside the walls of Troy.”
http://www.nytimes.com/2009/05/23/bu...1&ref=business
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Old May 23rd, 2009 #546
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Default Where da money be? 9 Trillion. Where did it go? Israel?

Quote:
Rep. Alan Grayson talks to the Federal Reserve Inspector General Elizabeth Coleman of the Federal Reserve, asking her questions regarding trillions of dollars that came from the Fed’s expanded balance sheet and what the losses on its $2 trillion portfolio are.
The Inspector General does not have the answers Grayson is looking for.
Grayson asked Coleman if her agency had done any research into the decision not to save Lehman Brothers, which “sent shockwaves through the entire financial system,” Coleman said it had not.
“What about the $1 trillion plus expansion of the Federal reserve’s balance sheet since last September?” Grayson asked.
“We have different connotations,” Coleman replied. “We’re actually conducting a fairly high-level review of the various lending facilities collectively.”
Translation: Nobody at the Fed knows where the money went.
Do you know what who got the $1 trillion or more in the Fed’s expansion of its balance, Grayson pressed.
“I do not know. We have not looked at this specific area at the particular point on that specific review,” Coleman answer.
What about the trillions of off-balance transactions since last September, Grayson asked.
Coleman demurred again, saying the IG does not have jurisdiction to audit the Federal Reserve.
Grayson pointed out that it was the inspector general’s job to audit such spending and asked again if the office had done any investigation at all.
Coleman’s answer: Not enough yet to even respond. “We are in not a position to say if there losses.”
Grayson concluded, “I am shocked to find out that nobody at the Federal Reserve, including the inspector general, is keeping track of this.”
http://www.dailymarkets.com/videos/2...or-9-trillion/
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Old May 23rd, 2009 #547
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May 22 (Bloomberg) -- Treasury Secretary Timothy Geithner committed to cutting the budget deficit as concern about deteriorating U.S. creditworthiness deepened, and ascribed a sell-off in Treasuries to prospects for an economic recovery.
“It’s very important that this Congress and this president put in place policies that will bring those deficits down to a sustainable level over the medium term,” Geithner said in an interview with Bloomberg Television yesterday. He added that the target is reducing the gap to about 3 percent of gross domestic product, from a projected 12.9 percent this year.
The dollar extended declines today after Treasuries and American stocks slumped on concern the U.S. government’s debt rating may at some point be lowered. Bill Gross, the co-chief investment officer of Pacific Investment Management Co., said the U.S. “eventually” will lose its AAA grade.
Geithner, 47, also said that the rise in yields on Treasury securities this year “is a sign that things are improving” and that “there is a little less acute concern about the depth of the recession.”
The benchmark 10-year Treasury yield jumped 17 basis points to 3.36 percent yesterday and was unchanged as of 12:18 p.m. in London. The Standard & Poor’s 500 Stock Index fell 1.7 percent to 888.33 yesterday. The dollar tumbled 0.5 percent today to $1.3957 per euro after a 0.8 percent drop yesterday.
Gross’s Warning
Gross said in an interview yesterday on Bloomberg Television that while a U.S. sovereign rating cut is “certainly nothing that’s going to happen overnight,” markets are “beginning to anticipate the possibility.” Nobel Prize-winning economist Paul Krugman, speaking in Hong Kong today, nevertheless argues it’s “hard to believe” the U.S. would ever default.
Britain’s AAA rating was endangered when Standard & Poor’s yesterday lowered its outlook on the nation’s grade to “negative” from “stable,” citing a debt level approaching 100 percent of U.K. GDP.
It’s “critically important” to bring down the American deficit, Geithner said.
In its latest budget request, the administration said it expects the deficit to drop to 8.5 percent of GDP next year, then to 6 percent in 2011. Ultimately, it forecasts deficits that fluctuate between 2.7 percent and 3.4 percent between 2012 and 2019.
http://www.bloomberg.com/apps/news?p...efer=worldwide
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Old May 23rd, 2009 #548
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Default

Quote:
Rep. Alan Grayson talks to the Federal Reserve Inspector General Elizabeth Coleman of the Federal Reserve, asking her questions regarding trillions of dollars that came from the Fed’s expanded balance sheet and what the losses on its $2 trillion portfolio are.
The Inspector General does not have the answers Grayson is looking for.
Grayson asked Coleman if her agency had done any research into the decision not to save Lehman Brothers, which “sent shockwaves through the entire financial system,” Coleman said it had not.
“What about the $1 trillion plus expansion of the Federal reserve’s balance sheet since last September?” Grayson asked.
“We have different connotations,” Coleman replied. “We’re actually conducting a fairly high-level review of the various lending facilities collectively.”
Translation: Nobody at the Fed knows where the money went.
Do you know what who got the $1 trillion or more in the Fed’s expansion of its balance, Grayson pressed.
“I do not know. We have not looked at this specific area at the particular point on that specific review,” Coleman answer.
What about the trillions of off-balance transactions since last September, Grayson asked.
Coleman demurred again, saying the IG does not have jurisdiction to audit the Federal Reserve.
Grayson pointed out that it was the inspector general’s job to audit such spending and asked again if the office had done any investigation at all.
Coleman’s answer: Not enough yet to even respond. “We are in not a position to say if there losses.”
Grayson concluded, “I am shocked to find out that nobody at the Federal Reserve, including the inspector general, is keeping track of this.”
I didn't believe this article, so I went looking for the video and I found it.

This is fucking incredible. IN-FUCKING-CREDIBLE.

NINE TRILLION DOLLARS and they've no fucking clue what happened to it (but we know)!

You guys have to watch this clip. Look at Coleman, the "Inspector General" (surely a crypto-kike, her English isn't pure, sounds like she speaks Hebrew at home), and all the kikes behind her!

I can't believe it. I'm shocked. This should be making headlines WORLDWIDE!

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Last edited by Bassanio; May 23rd, 2009 at 09:17 PM.
 
Old May 23rd, 2009 #549
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I can't believe it. I'm shocked. This should be making headlines WORLDWIDE!
That's why these kike motherfuckers believe in chutzpah. The more outrageously they behave, they more they get away with. ZOG has steadfastly refused to divulge (along with the banks) what happened to the money.
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Old May 23rd, 2009 #550
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ZOG has steadfastly refused to divulge (along with the banks) what happened to the money.
That's the TARP money you're talking about, and I'm familiar with the fact that banks refuse to say what they did with it. But the money in question here did not go towards any bailouts or anything of the sort. Apparently it was just created out of thin air and then it disappeared into thin air, and nobody knows where it went--kind of like the $2.3 trillion that went missing from the Pentagon. Rumsfeld made that announcement on 9/10. The following day the Jew attacked America and the missing $2.3 trillion were never mentioned again.
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Old May 23rd, 2009 #551
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Originally Posted by Bassanio View Post
That's the TARP money you're talking about, and I'm familiar with the fact that banks refuse to say what they did with it. But the money in question here did not go towards any bailouts or anything of the sort. Apparently it was just created out of thin air and then it disappeared into thin air, and nobody knows where it went--kind of like the $2.3 trillion that went missing from the Pentagon. Rumsfeld made that announcement on 9/10. The following day the Jew attacked America and the missing $2.3 trillion were never mentioned again.
I do know that some money went to the Chinese and Russians when the economy first went into credit freeze. They pretty much told the Kwa that they were not going to get fucked because a bunch of deadbeat niggers wouldn't pay up their mortgages. Don't know how much that was.

I still wonder how much money has been wired to Tel Aviv. I know their stock market has been doing well when I have checked it from time to time over the past year.
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Old May 23rd, 2009 #552
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I with I knew who the author of this article is. He nailed everything that's happening today 2 years ago. The links not valid anymore. Be interesting to read what the guy says today.
http://www.smirkingchimp.com/author/mike_whitney
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Old May 24th, 2009 #553
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Tyson has long had near-constant openings here, with many jobs going to immigrants. While the company doesn't track the proportion of its labor force that is foreign, a spokesman says the Shelbyville plant employs people from the Middle East, Asia and Africa, including about 200 from Somalia.
Hell, these bastards had a wetback recruitment and transport pipeline going all the way to Mexico.

Quote:
Burmese refugee Cho Aye traveled 60 miles from Nashville on a Thursday morning in late March to take a place at the head of the line outside Shelbyville's state employment office. The next day, the office was to take applications for $9.35-an-hour jobs processing chicken at the local Tyson Foods plant. Directly behind Ms. Aye, sitting on blankets atop the concrete, were 16 more Burmese refugees who had come from as far away as Idaho and Florida.
Apparently, these paddy waders have a great grapevine. No wonder they can descend on an area like cockroachs going after a pizza crust.

Quote:
Well before the state-run agency opened that morning, officials from churches and refugee resettlement agencies had transported several vanloads of Asian and African applicants from Nashville. An Egyptian minister ferried a group of congregants from a Coptic Christian church. More than 200 people converged outside the office overnight.
Now there's our real enemy.
 
Old May 24th, 2009 #554
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Hell, these bastards had a wetback recruitment and transport pipeline going all the way to Mexico.
Common for these big companies. Remember who was in charge come day of the rope.


Quote:
Apparently, these paddy waders have a great grapevine. No wonder they can descend on an area like cockroachs going after a pizza crust.
Kind of like bush telegraph?

Quote:
Quote:
officials from churches and refugee resettlement agencies
Now there's our real enemy.
You got it. Their weak-sister religious beliefs have weakened every White nation that has been infested with their illogic.

Be sure of this; racial conflict is inevitable unless Obongo can turn the jewconomy around (he cannot, all the jews can't put Humpty back together again!). Less jobs with more people looking for them. Too bad it takes the concept of a White man literally on the street and starving to motivate him to get off his ass. Seeing some nigger or mud getting a job you should have tends to have that effect.

I think that we will see more stories like this with Michigan and California leading the way.
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Old May 24th, 2009 #555
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In Russia after the fall of Communism, the cops didn't get paid.

The cops didn't get paid.

The cops didn't get paid.

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Old May 24th, 2009 #556
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[podblanc]play40483[/podblanc]

credit: Podblanc

.
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Old May 24th, 2009 #557
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I bet a lot of Russian cops kept working, though, like the military units that didn't get paid but remained on. They probably got food, etc.

The Kwa will be different. Kwaps will do a Katrina-type response like in NO when most of the police force went AWOL.
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Old May 24th, 2009 #558
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Originally Posted by deathtozog View Post
I bet a lot of Russian cops kept working, though, like the military units that didn't get paid but remained on. They probably got food, etc.

The Kwa will be different. Kwaps will do a Katrina-type response like in NO when most of the police force went AWOL.
I was there in 1995 for 6 months and talked to people about the post collapse situation. The Russian militsia (cops) pulled people over for speeding and took bribes. They also ran drugs and prostitutes. In any city, it was run by gangsters, but if you knew a police chief, you trumped all the gangs.

Police became instantly entrepreneurial. Don't get paid? Sell your authority and hire out your gun. Heck, police forces with a lot of non-whites will be bought cheaper than white kwaps.
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Old May 24th, 2009 #559
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A little difference in cops, comparing here to Russia. In the US, the average cop is a 48 year old overweight Hispanic Lesbian. After that, some 360 pound waddlers who couldn't hit a barn with double barrel shotgun, from inside the barn. And there are also some midget white boys who live in the gym and have 19 inch biceps (A lot of good that).

Those that aren't shot in the first few days of SHTF will bury their uniforms and go back and live in their parent's basement.

Mike
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Old May 24th, 2009 #560
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Vegas. Interesting video:

Found at a site that had this, too:

Quote:
The ‘bad’ phase of this financial crisis is only beginning

Up until now, while things may have been bad on an individual level (job loss, foreclosures, etc…), the financial crisis hasn’t impacted the way America works. People may have cut back on spending, but the basics of American life haven’t been drastically altered. However, that is about to change as the dollar collapses over the coming months.

(See Loud Paradigm Shift Rumblings or Fed Planning 15-Fold Increase In US Monetary Base for more on the information on what is happening to the dollar.)

No Savings

Savings are going to be wiped out by the dollar’s collapse. Oh, there will be plenty of $100 bills floating around the economy, but these bills won’t buy anything of value.

No Credit

Although the financial crisis has greatly impacted the ability to borrow, right now it is still possible for American consumers to borrow money. As proof, I just got another 0% credit card last month (which I used to buy gold on ebay).

However, credit card limits aren’t going to be increased to keep up with inflation, which means a year from now nearly all credit cards will be useless (credit cards of foreign banks denominated in foreign currencies might still work). Additionally, hyperinflation has the impact of vaporizing the financial sector of the country where it occurs, which means it will be soon next to impossible to borrow money in the US.

No Jobs

The dollar has beginning to fall, and over the next year it will lose most of its value. As it does, most of America’s service economy, like Las Vegas, will disintegrate, as consumer spending in real terms (ie: gold or other stable currencies) will drop like a rock. The US service sector will evaporate, bringing unemployment to levels exceeding the great depression.

Millions will die

When people go broke, so do their governments.
--Quote from "Lost Vegas"

As the US service economy disintegrates, public health services/programs will be cut back, and individuals will have no savings/credit/income to pay for medical care. The “Lost Vegas” video should give an idea what this will look like: patients will be turned away from hospital. Pharmacies will also close because no one will have any means of paying for medication. It will be a disaster…

Crime will spread

“This economy is so stupid, man. People are going to start going to jail eventually… because, you know, they’re worried about their kids, the health of their kids, feeding their kids… they're going to do whatever it takes to feed their kids, man… I got kids, man… I gotta feed, man.”
--Quote from "Lost Vegas"

We are heading towards a future with millions of desperate people at a time when critical services, including law enforcement, will be cutting back. To make matters worse, oil prices will soar in dollars, leading to possible shortages and supply disruptions. Because of rising fuel costs and budget constraints, police forces will have to cut back on their fuel use, which means less patrolling…

This is what really scares me. You can stockpile all the food and gold in the world, but it is useless if it gets stolen from you.

How will your community do?

Look around you. Do you see any farmland, mines, oil wells/refining, factories, or unique landmarks able attract foreign tourist? If you do, then you are luck, as these places will bring in income which will help sustain your local economy (Alaska will probably be the state best able to weather the crisis).

However, if all you see is retailers, hotels, casinos, houses, skyscrapers, restaurants, bars, clubs, etc, then your community is in trouble. "Lost Vegas" offers a preview of what faces a local economy concentrated entirely in the service sector.

Longer term, the US will recover

In the longer term, the manufacturing in the United States will recover. Companies will start outsourcing jobs here, as we will be the new China (weak currency with millions of people desperate for work). The US is also blessed with some of the best agricultural land on Earth. The people responsible for this economic/financial mess will go to jail, and the US economy will experience real grow based on the production real goods (and not over-consumption and foreign debt).

It is the next two years which terrify me. I might go visit my sister in Russia for a prolonged stay.
http://www.marketskeptics.com/2009/0...g-america.html

White people getting evicted, etc. in the youtube. Didn't see niggers till they started on the strippers (one negress) and went to the welfare office (multiple niggers).

Related LA Times story.
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Last edited by Joe_J.; May 24th, 2009 at 02:55 PM.
 
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