May 11, 2009
-- by Dave Johnson
The Fed has put up trillions, but who's counting? We don't know who got the guarantees. We don't know exactly how much. We don't know how much the taxpayers will be on the hook for. We don't know who is getting rich from it. But who's counting?
I think that in the Propaganda Age sometimes you can learn what an agenda is by watching what gets done rather than listening to what gets said.
Now we are in the Propaganda Age. Everything is marketing. Everything is PR. Everything is for effect. Everything is distraction: Look over there! Everything is misdirection: look at the left hand while the right hand picks your pocket. We’re told that things we see right in front of us are not what we see.When confronted by the intent to deceive learn to watch what is done and ignore what is said.
For example, after the invasion of Iraq they sent forces to secure and guard the oil fields and the Oil Ministry buildings, but no one to look for WMD. From that it was not hard to deduce that WMD was just a cover story - what they said - and what they DID was they got them some oils.
OK, now watch this video. This is Rep. Alan Grayson questioning the Inspector General of the Federal Reserve.
Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.
NO ONE is watching and reporting back to the taxpayers what is being done in their name with their money. What do you think about that?
P.S. I posted this under the category "corruption."
Posted by Dave Johnson at May 11, 2009 3:59 PM
Scott Burns has been counting. The trustees have been counting but the IDIOT INCOMPETENT political parties have utterly ignored. I am screwing the RNC but I am funding the Coburns who will be the 20% of Congress that survive. This assumes a 50 state union.
There is another way to see how serious our situation is: Compare the unfunded liabilities of Social Security and Medicare with the net worth of every household in America.
According to the Federal Reserve flow-of-funds figures for year-end 2007, our collective net worth as consumers was $62.7 trillion. By the end of 2008, the same figure had fallen to $51.5 trillion. Another year of growth for Social Security and Medicare liabilities would bring total unfunded government promises to about $46 trillion. That's nearly 90% of our net worth.
If consumer net worth fell an additional $5 trillion -- the same amount it fell in the last three months of 2008 -- we'd be broke.
Yes, you read that right.
Below: This table compares the unfunded liabilities of Social Security and Medicare over the next 75 years, which is the standard measure, with the net worth of all households in America.
The only way out of this is to print more money, inflating the value of assets relative to the amount of debt.
Cutting the expense of investing through index funds alone wouldn't solve the inflation problem. In addition to cutting expenses, we would have to invest a portion of our money in assets that give us a hedge against inflation: Treasury inflation-protected securities, real-estate investment trusts and energy companies.
Would this be perfect protection? No way. But it would give our savings a fighting chance.
My Father could buy land in Miss. for $5 an acre in 1946. The entire region was recovering from Reconstruction, the Depression, and WWII rationing. During the 1970s he pointed out we could all return to the land. Now we (siblings and me) have moved all over the world -- AF Officer, doctor, lawyer, teacher. And we see again we can return to the land in the tradition of the Scots-Irish, English, German forbears.
Prompting and motivation courtesy of the worthless, inept, self-serving, feckless, Congress and BlackRobes.
Time to get the local lackey's speaking schedules, D AND R. Time to heckle them and get thrown out of a few meetings. The hell-raising is coming so they will appreciate the heads up.
I feel your "ticked-offness". Like my fireball steel magnolia cube mate used to say -- "Must control My Puerto Rican!"
"President Obama’s chief economics forecaster said on Sunday that the country was not likely to see positive employment growth until 2010, even if the economy began to grow later this year."
The Fed's money is not our money. The Fed is bank plain an simple right?
I am unclear if they actually had the 2 plus trillion they lent out or they created it with an accounting entry.
If the Sheeple ever wake up to the Fed Game we might see some changes.
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