hoorah get ready for "Recession: the reckoning"

http://www.forbes.com/sites/stevedenning/2014/12/12/with-dodd-frank-rollback-the-big-bad-banks-are-back/

Can't get a bill to pass? Throw it in as a provision of a must-pass bill.

More from Krugman:

http://www.nytimes.com/2014/12/15/opinion/paul-krugman-dodd-frank-damaged-by-the-budget-bill.html

If you don't learn from history, you're doomed to repeat it. I only hope the banks will be a lot smarter than offering the same dumbass loans that caused the recession a few years ago. If you know people will not be able to afford adjustable rate mortgages, you best not offer them. Real easy.

edit: also, America.

need money NOW?

BAD CREDIT?

NO CREDIT?

FUCK IT! HERE! ;)

christ..

what you reckon.. 2 years?

Yeah 2 years or so and there will be another boom. If they didn't get in trouble for doing it before and made out with billions, why wouldn't they do it again?

2 to 4 years.

good article. fuck this gay earth.

Just as long as I can sell my rental property before the collapse. Fingers crossed.

Good thing I got out of teaching and into drug trafficking.

Prepare for a surge of "Cash-4-Gold" adverts.

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

Capitalism seems to be (mal)functioning.

  On 12/19/2014 at 9:07 PM, jsmcpn2 said:

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

  On 12/19/2014 at 9:07 PM, jsmcpn2 said:

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

lol yes you should all invest in gold. please.

economics is weird, man

They are already starting up the crazy neighborhood building operations in my city. There's still plenty of unfinished developments that are still unoccupied.

  On 12/19/2014 at 9:13 PM, chenGOD said:

 

  On 12/19/2014 at 9:07 PM, jsmcpn2 said:

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

 

 

lol yes you should all invest in gold. please.

 

There's a documentary on Netflix that's about the American money system. I can't remember what it's called, but it's really misleading and at the end has these millionaires telling you that you should invest in gold.

Why should you do such a thing? They have their own reasons, but it's really because they have a lot of money invested in gold. Don't invest in gold. If we got everyone to understand that it's not really that useful for making anything, then people would value it a lot less.

I'm sorry, i should have made my sarcasm more apparent.

Nah, I got you. I just thought it was funny that they would go through the trouble of making a film just to give you their spiel at the end.

Apparently, it's not on there anymore, though.

hahaha

oh

Investing in gold is actually not a bad thing, if you have the metal itself and a safe place to HIDE it. It is also difficult to obtain much gold without paperwork involved. However, whether physical or on paper, part of rebooting a fiat currency is recovering physical resources which includes gold, and real estate. The banks/fed have done it before - declare gold worthless, offer to take the junk off people's hands for cheap, make it illegal to own, and then declare it extremely valuable again.

^does not compute

  On 12/19/2014 at 9:34 PM, Braintree said:

 

  On 12/19/2014 at 9:13 PM, chenGOD said:

 

  On 12/19/2014 at 9:07 PM, jsmcpn2 said:

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

 

 

lol yes you should all invest in gold. please.

 

 

There's a documentary on Netflix that's about the American money system. I can't remember what it's called, but it's really misleading and at the end has these millionaires telling you that you should invest in gold.

 

Why should you do such a thing? They have their own reasons, but it's really because they have a lot of money invested in gold. Don't invest in gold. If we got everyone to understand that it's not really that useful for making anything, then people would value it a lot less.

 

There are a lot of technologies and products that are absolutely dependent on gold in some form or another, even if not directly incorporating the it. Rare earth metals have always been valuable because they are crucial to advancing technology or maintaining current way of life for billions; because they are a finite resource, and because the known quantity and rate of extraction of that resource provides security in knowing how much there is and low long mining workers can expect to have a job. In a world where currency is needed, basing it on something tangible, finite, and critical to the ongoing survival of our species isn't a bad way to go really.

If we ever hope to leap forward into the future and save our race, maybe even get off this rock - gold and many other rare resources will be required, which gives them value. It may not be AS useful as it once was, but it does and always will play a critical part in our civilization.

Give me an example of a technology that absolutely depends on gold.

  On 12/20/2014 at 12:59 AM, jsmcpn2 said:

 

  On 12/19/2014 at 9:34 PM, Braintree said:

 

  On 12/19/2014 at 9:13 PM, chenGOD said:

 

  On 12/19/2014 at 9:07 PM, jsmcpn2 said:

Prepare for a surge of "Cash-4-Gold" adverts.

 

Either the banks and Wall St. have something new up their sleeves that will last a few years longer before its collapse, or this is finally the end and they are going after one last dash for the cash (and resulting foreclosure properties).

 

If W.S. says their entire business model relies on risky investing with taxpayer subsidies, it means all the "real" money they are investing isn't enough to generate a return, so it must be supplemented with "free" "real" money taken from the masses to be gambled on unsustainable revenue streams.

 

Sounds to me like the plan is the same, or has a new twist this time around. Loan worthless fiat money to people who can't afford it, sap as many man-hours' worth of "real" money out of them as possible, then take the property back and sell it to the next fool until he can't pay, then take it back again. In the end, another swath of people are broke and the banks own more real assets. They know that most money is fake, and that true value is in property and labor.

 

Economic slavery at its finest! Why house and feed his slaves when the master can simply loan them money and charge interest to buy food and houses from his own supply?

 

 

lol yes you should all invest in gold. please.

 

 

There's a documentary on Netflix that's about the American money system. I can't remember what it's called, but it's really misleading and at the end has these millionaires telling you that you should invest in gold.

 

Why should you do such a thing? They have their own reasons, but it's really because they have a lot of money invested in gold. Don't invest in gold. If we got everyone to understand that it's not really that useful for making anything, then people would value it a lot less.

 

 

There are a lot of technologies and products that are absolutely dependent on gold in some form or another, even if not directly incorporating the it. Rare earth metals have always been valuable because they are crucial to advancing technology or maintaining current way of life for billions; because they are a finite resource, and because the known quantity and rate of extraction of that resource provides security in knowing how much there is and low long mining workers can expect to have a job. In a world where currency is needed, basing it on something tangible, finite, and critical to the ongoing survival of our species isn't a bad way to go really.

 

If we ever hope to leap forward into the future and save our race, maybe even get off this rock - gold and many other rare resources will be required, which gives them value. It may not be AS useful as it once was, but it does and always will play a critical part in our civilization.

 

Gold is not a rare earth metal, it is a precious metal.

Additionally, "rare earth metals" are actually not all that rare.

Gold has been used in technology, it is true, but we've also manged to supplant much of that usage with other technologies. Gold was considered valuable because it was shiny.

From here: http://www.marketoracle.co.uk/Article40631.html

"While Gold does have some industrial applications in semi-conductors, use as filling for teeth, and other applications, humanity's primary interest in Gold stems from its appearance and use for making jewelry."

Thinking that gold has any more value than a piece of paper backed by the full faith of the government is fucking foolish.