Friday, Jan 22, 2010
... Cause the times, they are a changing
Daneric - my favourite blogman: There is No Contrarian Upside Play to a Ponzi
"The math is simple: We need to destroy the excess debt and break the debt promises at all levels of society. And yes along the way, jail the criminals of which there are many. And yes it will be very painful but if we don't allow it to happen, fascism will surely result. I don't want to sacrifice liberty for the illusion of security. In the end of course we would have neither.
And least you think I am anti-capitalistic, nothing can be further from the truth! TRUE capitalism would have washed the excess fraud and corruption and risk from society long before it got out of hand. But our corrupt overlords distorted the system and outlawed true capitalism. Americans are pissed off at "socialize the risks and privatize the profits. We are not dummies."
8 Comments
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1. mountain goat said...
Good read thanks.
New laws won't stop those looking for the upside play. Old habits die hard. It will only stop when their debt promises become worthless, the medieval justice the market provides.
2. jack c said...
I think this bit pretty much sums it up "Simply put, everything the government touches turns to sh*t and the people know it"
3. techieman said...
I just hope Ben reads it! I've not seen anyone so bullish about being bearish in a long time. Quite scary...
My fav bit is this... sound familiar??:
.".... Americans are also pissed off because we did what we were told. We invested in stocks, ran up debt to "consume", bought houses in the "ownership society" and supported the economy. And we sucked off the tit of big government which it promised us for decades that it would take care of us. And we seen our sons and daughters and brothers and sisters go off to war to protect it all. We did what we were told, now its seems like it was a big fat pack of lies. Just look at any unfunded pension plan."
and
"Play with fire too long and the forest will burn down."
4. Crunchy said...
2. jack c said...''I think this bit pretty much sums it up "Simply put, everything the government touches turns to sh*t and the people know it"
but don't truly understand why.
5. rumble said...
Jack, exactly, since when were government sufficiently expert in everything, that they should be meddling with everything?
Techie, "we sucked off the tit of big government which it promised us for decades that it would take care of us"
Suckers!
6. rumble said...
*should be: since when were government sufficiently expert at *anything, that they should be meddling with everything?
7. jack c said...
The next time you hear a politician use the
Word 'billion' in a casual manner, think about
Whether you want the 'politicians' spending
YOUR tax money.
A billion is a difficult number to comprehend,
But one advertising agency did a good job of
Putting that figure into some perspective in
One of it's releases.
A.
A billion seconds ago it was 1959.
B.
A billion minutes ago Jesus was alive.
C.
A billion hours ago our ancestors were
Living in the Stone Age.
D.
A billion days ago no-one walked on the earth on two feet.
E.
A billion Pounds ago was only
13 hours and 12 minutes,
At the rate our government
Is spending it.
Building Permit Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Income Tax
Unemployment Tax
Fishing License Tax
Food License Tax
Fuel Permit Tax
Petrol/Diesel Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
(tax on top of tax)
Liquor Tax
Luxury Tax
Marriage License Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road Usage Tax
Local Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago...
And our nation was one of the most prosperous in the world.
We had absolutely no national debt...
We had the largest middle class in the world...
And Mom stayed home to raise the kids.
8. braindeed said...
7. jack c said...
Not one of these taxes existed 100 years ago...
And our nation was one of the most prosperous in the world.
....So let's abolish a century of progress. Lets wind back healthcare, state pensions, universal education, life expectancy past 45 for the 90% who were excluded from the moneyed class .....and presumably when we return to this pin stripped version of Pol Pot's year Zero, we all keep our grubby hands off the wealth that the financial genius that is Jack C has accumulated under the present 'corrupt' system.
Let's have a vote on that proposition, gents.