[mattduke]

Featuring John Williams from shadowstats.com

link

[steam_cannon]

Nice find! What sunny news, things will only be getting worse!

The video had a few interesting links too...

PEAK GOLD- a fast approaching reality
http://www.liveleak.com/view?i=cf3_1195242572

[heroineworshipper]

Can only hope mainstream media puts out more these stories, since AP is now the only reality for most people.

[LoneSnark]

Wait, if banks are going to fail in the near future, should they at least not be rediculously profitable right now? Looking at the list of the top 10 banks in North America, all of them declared post-write-off profits in the multi-billions last year.

So, again; if banks are still profitable, how can they fail?

To put it another way, which company is most at risk: General Motors, or Toyota?

[heroineworshipper]

Haven't watched TV since Comca$t broke $600/year. Amazing how Cramer's style of yelling and screaming has become normal & everyone still talks 3x faster than real life even though most of the airtime is informercials.

History will recall that 9-1-1 was the cause of the largest decline in the developed world. Everything else is humans doing what humans R programmed to do, printing money, monetizing debt, sacrificing free will.

Thinking about getting a 9' Steinway. U can never have enough pianos during a massive loss of confidence in money.

[wisconsin_cur]

$this->bbcode_second_pass_quote('LoneSnark', 'W')ait, if banks are going to fail in the near future, should they at least not be rediculously profitable right now? Looking at the list of the top 10 banks in North America, all of them declared post-write-off profits in the multi-billions last year.

So, again; if banks are still profitable, how can they fail?

To put it another way, which company is most at risk: General Motors, or Toyota?

[MrBill]

I feel sorry for Americans. You really do have a crap financial media.

[wisconsin_cur]

$this->bbcode_second_pass_quote('MrBill', 'I') feel sorry for Americans. You really do have a crap financial media.

[MrBill]

I usually watch Bloomberg TV, which is nominally a US company, but I really notice a change in coverage as the time zones revolve. I get German Bloomberg all day, but the English coverage starts in Asia and the UK and then switches to America about midday.

As someone noticed here, the US reporters seem to talk about three times as quickly, and there is this sense of urgency in their voices like they are pumping shares? They cheer rallies and seem to be genuinely in disbelief as in something is wrong when markets fall? Just an observation.

I get CNN and CNBC, too, but I never watch them. The coverage is too poor. Shallow. Too many commercials. Business Week, Forbes and News Week are just The Economist-lite version of news and politics. I prefer the FT to the WSJ. Most of my hard news I get directly from Bloomberg or Reuters. Mostly, I watch the news in German. NTV. They do good coverage. Obviously not an option for anyone that does not have the right satelite.

The International Herald Tribune is good. I read the BBC online. Of course, The Onion is the only true source of news about America that I trust! ; - )

[topcat]

MrBill: On the topic of 'news' papers, what is your take on the IBD (Investors Business Daily)?

[wisconsin_cur]

Mr. bill,

I have to agree. We live with out a TV so I find that the best news source is Bloomberg and BBC but get most of my information via newspaper websites. I would love to access to more but for a clog in the health care services machine, I do ok.

It is funny that you should mention how fast they talk on Bloomberg since I will sometime flip to CNBC and am bothered by how fast they talk compared to American Bloomberg.

[MrBill]

$this->bbcode_second_pass_quote('topcat', 'M')rBill: On the topic of 'news' papers, what is your take on the IBD (Investors Business Daily)?

[Cid_Yama]

<b>New Accounting Rules Hasten the End</b>

Many on Wall Street are complaining about Mark-to-Market, but no one is talking about what the problem actually is. The problem is new accountancy rules which took effect this year that will force companies to mark their assets in line with reality.

The new accounting rules force companies to mark-to-market and keep on their books all those derivitives. They also make the accountancy that signs off on those books financially reponsible for the accuracy of those books. This is a very profound accounting rule change that has taken effect 1st quarter this yr. These companies are about to report 1st quarter.

The Fed massively created money out of thin air to halt the collapse of the entire financial system this weekend, triggered by Bear Stearns. It didn't solve anything. It mearly postponed the collapse for a brief while longer, and gave the frantic denialist an opportunity mindlessly rally today, and an opportunity for some late players to get out.

The Fed cut interest rates 75 basis points today, the anticipation of which sparked the mindless rally. Already, the treasury auctions are failing because foreign investors are not willing to purchase anymore US debt. This cut will just accelerate the dumping of US Dollars and ensures no one will be loaning the US any more money. This is forcing the Fed to monetize debt internally, the equivalent of frantically printing money.

We are so far down the path to a Wiemar type hyperinflation, there is no way to avoid it. As a matter of fact, it is already happening. Notice the massive rise in commodity prices?

This will all play out this summer.

http://www.usagold.com/germannightmare.html

[catbox]

I'm just happy that some people on the idiot box are actually admitting to and spouting that we're fucked.
TV sucks in general but it's something the masses seem to understand.


cb

[cube]

$this->bbcode_second_pass_quote('LoneSnark', '.')..
So, again; if banks are still profitable, how can they fail?
...

[Cid_Yama]

This is a systemic crisis. The fraud inherent in the mortgage derivitives market is so large, it can't be bailed out, it can't be passed on. They are now walking the tightrope of trying to wipe out the debt through hyperinflation before the worthless assets can be priced and force the financial system to collapse.

In other words, I guess it means the economy must die, but it must die and be reborn in such a way that it maintains the power status quo.

[wisconsin_cur]

$this->bbcode_second_pass_quote('LoneSnark', 'W')ait, if banks are going to fail in the near future, should they at least not be rediculously profitable right now? Looking at the list of the top 10 banks in North America, all of them declared post-write-off profits in the multi-billions last year.

So, again; if banks are still profitable, how can they fail?

To put it another way, which company is most at risk: General Motors, or Toyota?

[MrBill]

Try $1.6 billion. Not trillion. It is often said that a bank's assets walk out the door every evening.

[wisconsin_cur]

Mistaken acknowledged and I edited the post in order to fix it. Thank you for the good editorial work Mr. Bill.

[MrBill]

$this->bbcode_second_pass_quote('wisconsin_cur', 'M')istaken acknowledged and I edited the post in order to fix it. Thank you for the good editorial work Mr. Bill.