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alstry (35.49)

To My Republican Friends....Truck You????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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March 14, 2009 – Comments (21)

The total savings in America is about $6 Trillion in cash......the non Federal debt is over $30 Trillion.

Much of our savings has other debt as a liability against it (ie...someone with a few hundred thousand of cash in the bank but has a half a million dollar mortgage on their house)

The budget of the US Government will likely exceed $4 Trillion dollars this year factoring the War and banking stimulous plans...much of which was initiated under the Bush Administration.

Tax revenues to our government, municipal, state, and federal is evaporating as obligations are exploding.

UNDER THE BUSH ADMINISTRATION....THE DEBT...YES THE DEBT...OF THE USA DOUBLED....bascially under Bush, the accumulated debt under one administration equaled the combined deficit created by every other Democratic and Republican Presidential administration since the founding of the USA. 

And people criticize the Democrats as tax and spend???  I know I do.......  But the Republicans are BORROW, CREATE DEBT, and spend.  From this perspective...BOTH SUCK!!!!!!  The latter just sucks a little harder in the long run.

So next time  Republicans criticize an American for spending irresponsibly.....just look at our government...especially the ones Republicans voted into power.

All of our net worth is predicated on the soundness of the dollar....especially the safety of our savings....you know....we measure how rich we are by dollars or IOUs created by the government.

And now the government needs to borrow trillions..... create IOUs(print money) just to keep this Ponzi scheme treading water....

There is only two places the government can get money....borrow it from foreigners or borrow it from Americans......

I have a bunch of Republican buddies that have a bunch of cash in the bank.....what they forget is the cash is really an IOU from the government......and under the last Republican President we created more of them than any president in history....but now the government, its people, and businesses can't pay off those IOUs and we are beginning to realize that the game for the past eight years was really a Ponzi scheme...... simply issuing and ever increasing number of IOUs by ALL that we used to function as a society.

What we have now is a set of laws that will not be effective when few are willing to pay off or accept our IOUs.

If banks and government are unwilling to extend IOUs to people......you think the people are going to accept IOUs from the government or banks????  So next time Republicans criticize those for spending too much, creating too many IOUs....you may want to clean your own house first.

And for those of you that think that bright shiny metal is the answer to all your problems......you think the gas station is going accept a piece of metal as a means of exchange when it has no fuel to fill your tank????

Gold is only valuble if people perceive it as valuble.......it is a piece of metal that we dig out of the ground.  When times become uncertain.....may people look to metal as a safe havan????.....it is very possible...but it is possible that government will prohibit such behavior. 

I am on the fence and have no problem suggesting that metal may not be a bad choice as a place to store some value....but there is a strong possibilty it may not be the solution as well.

Very interesting times indeed.  We are all broke at the same time........those that think they have money are simply holding IOUs that may never be able to pay off......

That said.....it is still my perspective to believe in the USA.....and if we take the right course of action....the dollar will hold its value and we will emerge from this mess stronger than ever.

(Please take the title in the spirit of the intended humor.....this was not intended to be a partisan post...I myself am agnostic.......we have been let down by both sides of the fence....it is just now time to wake up EVERYBODY.  We are going into very stressful times...you better be able to maintain your sense of humor)

21 Comments – Post Your Own

#1) On March 14, 2009 at 12:30 PM, nuf2bdangrus (< 20) wrote:

I'm with you Alstry.  I have been more Rep than Dem, but this last administration, or more precicely, the central bank, has done irreparable damage.

Our economy cannot cure until we improve our education and skills of our workfoce and the model of borrowing dollars to then finance imported goods changes.

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#2) On March 14, 2009 at 12:41 PM, bubabar (< 20) wrote:

Very true, excellent points, thanks guys

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#3) On March 14, 2009 at 12:46 PM, jszoke01 (26.65) wrote:

The only difference between the majority of democrats and republicans is the philosopy under which they desire to take and spend and grow the regime.  Bring me back Reagan.

Alstry - did someone hijack your account yesterday?  These recent blogs take a very different approach to getting your point across.  It almost seems like I'm reading the thoughts of someone who thinks of the reader as an equal. 

That is not to take away the fact that you have been right and I have been wrong - the presentation is just a little more appetizing.

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#4) On March 14, 2009 at 1:16 PM, alstry (35.49) wrote:

CAN YOU BELIVE THIS NONSENSE????

G20 vows to restore lending

The problem is not that the banks CAN'T lend, THE ISSUE is borrowers are unable to borrow and are DEFAULTING on their existing DEBT destroying the banks' balance sheets. 

What good is it to extend credit to a person, business, or municipality that can't afford to pay back the debt?????

It only makes a BAD problem worse.

Pretty Amazing....isn't it????

 

 

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#5) On March 14, 2009 at 1:16 PM, rofgile (98.99) wrote:

Alstry -

 If the dollar IOU ever did fall apart, it is not likely that gold would take over.  Look at what happened after the fall of the Soviet Union.  Bartering became the best bet.  

 So if you think the overall system is at risk, I would suggest having good assets stored up.   Tools, vehicles, food stocks that last a long time, land to grow food with.  These are the things that would be valuable if you don't have a functioning currency.

 All things even, if no one has money that is valuable, it's nice to be the guy who can fix everyone's broken cars, or is locally growing the food that people could barter for. 

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#6) On March 14, 2009 at 1:46 PM, milpo (95.57) wrote:

Once again Alstry, you are on a cogent, educational, rational, and enlightning roll.  Please stay there.  I look forward to reading your posts daily,  They are totally clothed with logic.

Why don't you write a book?  Econopolicies for Dummies.

The century of usery if over.  Now, we are entering a century characterized by the privatization of states. The ultimate goal is complete ownership of assets. Once every carbon atom consumed is owned,  tariffs can be charged for its consumption.

Why lend at interest with all its inherent risks.  Just sit in your counting house and collect rent ad infinitum. The enslavement of future generations is at hand.

If my children are sick, starving, or sad- my credit card minimum payment is the last thing I worry about. However, if I knew that my owner\landlord would put my children on the street if I did not pay rent, that would be my first payment.

 

Heartfelt best,

Milpo

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#7) On March 14, 2009 at 1:56 PM, usmilitiadude (32.97) wrote:

Our current problems are a reflection of the American people, we vote the politicains into office. It is somewhat like going on a hike with a group of people, the pace will be that of the slowest person.

Here is a video on how to plan a good party. Republicans and Democrats could learn from this one. Enjoy!

http://www.youtube.com/watch?v=8nvivEqxjsI

 

 

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#8) On March 14, 2009 at 2:31 PM, kaskoosek (97.92) wrote:

Good to see you changing your oppinion.

 

Welcome to reality.

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#9) On March 14, 2009 at 3:41 PM, quitsmoking (< 20) wrote:

What you are not thankful to the Bush administration for giving us Obama, Pelosi, and Reid??? A decisive Left turn, away from the repubs and the worst policies and spending sprees since Carter. The corrupt Republicans gave it away on a stinking platter and now we have to pay the dues. Thanks guys you were really on the ball!! Maybe something good will come out of this but it's not right around the corner. 

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#10) On March 14, 2009 at 4:12 PM, brwn8484 (89.50) wrote:

Perhaps... you all forget... The nation and most of Congress supported Bush and he was up front when we started the war.  Most people have the brain and attention span of a pea. 

Shortly you will all be blaming Obama because he is doing nothing but claiming to be reducing spending.  His first days in office have seen some of the largest outlays of money in the history of the US.  

Claiming that Obama is any better is about as brainless as blaming Bush for an economic collapse when the real reason is the abuse of laws and immoral and criminal behavior.

While Bush may have spent some money, he did not authorize the War spending.... Congress did.  While Bush may have approved the budget, he only was able to approve the budget that Congress finalized. 

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#11) On March 14, 2009 at 4:38 PM, BradAllenton (31.56) wrote:

The nation and most of Congress supported Bush and he was up front when we started the war.

This has to be the most amazing, uninformed line ever posted on Caps. Congrats.

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#12) On March 14, 2009 at 5:00 PM, devoish (98.81) wrote:

Truck us Dems, too.

Devoish

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#13) On March 14, 2009 at 5:01 PM, JibJabs (94.86) wrote:

"The nation and most of Congress supported Bush and he was up front when we started the war.  Most people have the brain and attention span of a pea."

We supported him because he lied to us (and maybe himself too). Cheney and Rumsfeld flat-out lied.

"While Bush may have spent some money, he did not authorize the War spending.... Congress did.  While Bush may have approved the budget, he only was able to approve the budget that Congress finalized."

Bush sent the troops to Iraq using his executive powers and then regularly excluded military spending from the budget, relying on "extraordinary" funding demanded from Congress. What did you expect Congress to do, cut the purse strings after the troops were already there? Get real.  

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#14) On March 14, 2009 at 5:08 PM, theonewag (< 20) wrote:

can u say weapons of mass destruction?

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#15) On March 14, 2009 at 5:18 PM, soycapital (< 20) wrote:

Perhaps... you all forget... The nation and most of Congress supported Bush and he was up front when we started the war.  Let me clarify: I blame it on politicians on BOTH sides. The system is corrupt, the politicians are corrupt, it's all a shell game that we get lost in Republ vs Demo, Rich vs Poor, White vs Black. That is the game the politicians want us to play and we are dumb enough to fall for it. Look at the ugly sh##t in political blogs. I rest my case.

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#16) On March 14, 2009 at 5:21 PM, alstry (35.49) wrote:

In the end....most of these partisan arguments will be acedemic.

Our government is running out of money very fast and few will be able to afford to pay any taxes.  It  doesn't matter if the tax rate increases to 100% of income....so few will be making an  income that even if the government took every dime of savings of every American.....it would not be enough meet the demands of government to provide health, education, and safety.

We have only begun the new Year and California is already $8 billion in the  hole.....and more like $16 Billion but for accounting shenanigans.  Here is a snipit from Mish's blog:

After analyzing recent data showing rapidly rising unemployment and lower-than-expected economic growth, Legislative Analyst Mac Taylor said the state is on track to have even less money than lawmakers anticipated in February.

California's economy in is such bad shape that Taylor's office anticipates that residents' combined personal income will be lower this year than it was last year, leading to fewer tax dollars for state coffers.

"I went as far back as 1950, and I could not find a situation in which personal income had actually declined in the state, so that's a rather unusual event," Taylor said at a news conference Friday.

Until we as a nation start addressing the problem, the fact that too many people, businesses, and local and state governments have too much debt and are no longer in a position to borrow......who gives a damn if the banks can lend or not????....

I can assure you the DEPRESSION will get MUCH WORSE......if we keep only funding the banks....

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#17) On March 14, 2009 at 5:57 PM, crystlz (60.42) wrote:

Alstry.

I can't agree more. I live in Missouri, a state that's unemployment rate usually lags the national rate. This time around we are not escaping unscathed. Mortgage foreclosures are still accelerating which means that homebuilders must compete with the foreclosure market where homes are selling for less than their replacement cost. Ergo, no home building recovery this summer.

I've been following your posts for a while now and appreciate the fact that you do the math and report your conclusions that have been extremely accurate up until now.  Tax revenues here are falling at the state and local level creating downward pressure on employment. (Read that: "people I know are out of work")

"What good is it to extend credit to a person, business, or municipality that can't afford to pay back the debt????? "

 No long term benefit that I can see. Anyway, thank you again for your posts that often prompt attack the messenger responses. I for one am grateful for truth wherever I find it.

 

peace bro 

 

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#18) On March 14, 2009 at 6:06 PM, Jaycephus (< 20) wrote:

I voted for Bush twice, but if he could run for a third term, I would not vote for him. I'll vote only for Libertarians or only those very, very few in current parties that represent Libertarian views.

Oh, wait...

Bush did run for a third term. As both a Democrat and a Republican, so he couldn't lose!  

We effectively have the same situation we had 8 years ago! A president enters office with a recession handed to him, and rather than allow free-market forces to clean up the mess, more manipulation and deficit spending is used to 'end' the recession. Fear is then utilized to push agendas. Those agendas, while slightly different, can all be characterized as gathering more power to the State. This cycle didn't start with Bush, of course, and I initially voted for him because he talked a good game, but after 8 years it is clear that it is nearly impossible to make a case that Bush was actually more conservative, in his actions, than was Bill Clinton or JFK.

Now we have a supposed liberal for president who has yet to abolish the Patriot Act, apparently doesn't dislike being in Iraq so much anymore, loves him some Afghan surge, has no problem bombing sites in Pakistan, and is doubling down on all of Bush's tactics used to combat the 2000 recession, including increasing the debt of America in his first term of his first year by more than the total debt in all of American history prior, all the while freely lying and using the same fear tactics Bush's detractors accused him of! 

The idea that we 'could' be OK if the right things are done may be true, but the fact is that there is ZERO chance that we will do the correct things.  We need states to cut their spending and balance their budgets, we need GM and any other companies that can't turn a profit to go bankrupt and let better companies rise in their place, we need sound money, but even with a paper dollar, we would still be in better shape if we had a central bank that kept their mitts off the levers. 

But we have all the current decision makers on the same page with this money-supply-manipulation-stimulus-deficit spending solution that is the same thing that got us in this hole to start with.

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#19) On March 14, 2009 at 6:13 PM, alstry (35.49) wrote:

crystiz,

Thanks for that comment.....it resonated with me.

That is what Alstrynomics is all about....telling the truth. 

What is funny is that people are commenting that my blogs of the last few days are different and more enlightening.....the funny part is that Alstry has been posting similar stuff for the past year....it is just that people are beginning to wake up.

Many simply can't handle news if it is not to their liking....especially if it takes them out of their comfort zone.

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#20) On March 14, 2009 at 6:18 PM, alstry (35.49) wrote:

jay,

Why do you think Europeans say Americans have the right to vote....we just can't choose who we want to vote for.....at the end of the day, on the really important issues...there is little difference between the parties.

Ron Paul was the most popular candidate on the internet for a long long time....he barely got any coverage in the mainstream media....

The game is  fixed.....you are either with the system ....or you have no chance.

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#21) On March 16, 2009 at 11:24 AM, Jaycephus (< 20) wrote:

Yeah, that's another thing. The mainstream media rigged this from the beginning.  They had poured the love on McCain right up until the race became Obama vs. McCain.  Then suddenly he's 'just like Bush', and Obama is the Second Coming we've all been waiting for.

By the time the primaries got to Texas, there wasn't even any point in voting anymore, unless I voted for Hillary over Obama.  I voted for Ron Paul, but I might have done more good to go vote twice for Hillary in the Texas caucus system.

Anyway, I'm not voting for non-liberty anymore, regardless of who is running. If Gore, Kerry, Hillary, or Obama get's elected in 2012, so be it. I think the best thing that could happen for liberty is that McCain didn't get elected. He would have been the ulimate death of the Republicans, and allow at least another Presidential cycle under the Democrats. Instead, we've fast-forwarded to the Democrat cycle. Republicans may still be doomed, but at least there is a small chance that libertarian-minded conservatives can still do something good. Ideally, whether within the Republican party through Ron Paul, or outside of both main parties, we would have a shift in thinking from the Left-Right dichotomy to a question of Statist vs. Libertarian.

Jay

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