26 Dec 2012
A Canadian Summarizes America's Collapse: "Everyone Takes, Nobody Makes, Money Is Free, And Money Is Worthless"
Submitted by Tyler Durden: On this lackluster Boxing Day dominated by illiquid moves in every asset class, we thought a few succinct minutes spent comprehending the US and European government policies of social welfare and their outcomes was time well spent. Canadian MP Pierre Poilievre delivers a rather epic speech destroying the myths of US and European 'wealth' noting that "Once the US citizen is in debt, the US government encourages them to stay in debt," noting that "the US government encouraged millions of Americans to spend money they did not have on homes they could not afford using loans they could never repay and then gave them a tax incentive never to repay it." His message, delivered seamlessly, notes the inordinate rise in the cost of all this borrowing, adding that "through debt interest alone, soon the US taxpayer will be funding 100% of the Chinese Military complex." From Dependence to Debt to the Welfare State and back to Dependence, this presentation puts incredible context on the false hope so many believe in the US and Europe. Must watch.
Now consider that large sections of this imaginary Irish population thought that the best way to combat this gun epidemic was to provide more guns to more people so that we could all be ready for a gunfight at the drop of a Stetson?
After yet another unfathomable gun massacre, after yet another week when one more haunted, disturbed-looking young man stared out of the front page of the papers, after another week when more wailing parents buried their innocents, how is it possible that Americans don’t act to rid their country of guns? How come having a gun in the United States is treated as an issue of a person’s “rights” rather than an issue of other people’s “health and safety”? These questions sum up why many (sheeple) Europeans have difficulty understanding the US.
Red Sky at Night, Sailors Delight,
Red Sky in the Morning, Sailors take Warning!
We have a new era dawning in Global Monetary policy. It is a new day with the monetary skies already red.
Within 90 days the captains of monetary policy have steered the world into uncharted waters and on a course that history warns us against.
Federal Reserve: QE3 "Unlimited" and QE4 within 90 days,
ECB: OMT "Uncapped",
BOJ: QE 10 and the newly elected Prime Minister Abe's mandate for "Inflation at any cost"
BOE: UK's newly appointed BOE Governor, Mark Carney's Monetary Evan Rule targeting.
These untested and newly commissioned captains all have PhD's from the finest Economic schools in the world, but they clearly have not studied nor grasped the key lessons of history.
OLD LESSONS BEING RELEARNED
The following lessons, in the following sequence, should resonate with all who are clearly watching, listening and paying attention to what is going on around them, and not what the press 'conjures up' and the political apparatus 'spins'.
1- It starts with LIVING WITHIN OUR MEANS.
Nadezhda Kevorkova: As the number of refugees fleeing Syria has almost reached half a million, around 160,000 have come to neighboring Lebanon, including Palestinians, Kurds, Sunnis and Shiites.
For many, peaceful co-existence with other groups was disrupted by bloody civil hostilities for which they fail to find reasons.
Palestinians: Cannot live on a battlefieldMuhammad Tamim and Iptisam and their two adult children fled their home not far from the Palestinian Yarmouk camp in Damascus four months ago. Their parents and three elder children are still there.
“As soon as the FSA enters an area, the combat units follow and engage in action. There’s no way we can live in the middle of a battlefield. Syria is headed towards a catastrophe,” said Muhammad, a 50-year-old house builder.
His own home was turned into a battlefield. His newlywed elder daughter’s house was looted.
“Both sides know no mercy and spare no civilians. The death rate ratio of soldiers to guerilla fighters to civilians is one to 10,” continued Muhammad.
“Palestinians are now twice or even three times the number of refugees,” he says, emphasizing he’s not a member of any party, group or movement. When Muhammad and his family arrived in Lebanon, local people helped them start a new life, even though they are Sunnis living in a Shiite community. “We were given a cordial welcome and treated as part of the family: they gave us a home, household stuff, everything,”
One of 2012's most profitable scams was the bankers' 'innovative' approach to a key interest rate called LIBOR. Virtually every bank at the event was involved in illegally colluding to rig LIBOR, ensuring that they would always be the winners in the multi-million pound bets they were making on the markets.
When we noticed that this money-spinner had been overlooked in the ceremony, we decided to show up and make sure the LIBOR-riggers got the recognition they deserve.