House of Cards is Shaky
The DOW made a nice run at 10600 today before stalling and falling at the end of the day on less than average trading. Is there hope in the air or are the HFTbots practicing for the market run up before the elections?
The IMF fears explosive social unrest if the West doesn't find jobs for 30 million unemployed and worries that young people will lose faith in institutions.
John Williams sees the Fed dancing on a landmine as they have tried to stabilize the US economy. He fears that monetization of government debt will trigger hyperinflation when the world realizes that the US is broke and flee from the dollar.
According to one consultant the top 100 pension funds lost $108B in August and are underfunded by $480B.
Grim stuff.
Societies have always struggled to keep young men busy and engaged because idle young men are just trouble. Think of the Vikings. Hordes of young men stuck indoors for months at a time drinking, brawling and trying to screw Harald's daughters. So the adults arrange raiding adventures to keep the young men busy somewhere else.
The West is letting it's young men sit around doing drugs and screwing young women. Many never learn a trade then spend a lifetime as drifters in society. These young men never buy into modern civilization and act like barbarians within the walls.
Government and business elites have experimented with society and economics for the past 40 years while building a global economy based upon wild theory. Now that everything has been disassembled, nothing works.
For two years the government has been trying to put Humpty-Dumpty back together again but nobody is convinced that it can be done. The lies were exposed when the thing fell off the wall. Now the Fed and government is trying to walk a tightrope between deflation and inflation without a balancing pole. If they fall, everyone panics and runs away from the dollar to commodities. Then comes hyperinflation, apocalypse and then some rebirth of some kind.
Those of us who have counted on a defined benefit pension may be in the same boat as those who planned on getting a social security check. Totally fucked.
The funds are in dire straits since the 2008 economic collapse. All of the funds lost fortunes and with weak to non-existent investment returns, cannot makeup their losses. So many funds may have to be turned over to the PBGC, which relies of government funding to pay benefits.
If Uncle Sam goes bust there won't be any social security or PBGC pension payments. For that matter, you won't have any 401k or other savings either, because the whole shebang will collapse. It sucks to be old right now.
This house of cards looks awfully shaky right now.
The IMF fears explosive social unrest if the West doesn't find jobs for 30 million unemployed and worries that young people will lose faith in institutions.
John Williams sees the Fed dancing on a landmine as they have tried to stabilize the US economy. He fears that monetization of government debt will trigger hyperinflation when the world realizes that the US is broke and flee from the dollar.
According to one consultant the top 100 pension funds lost $108B in August and are underfunded by $480B.
Grim stuff.
Societies have always struggled to keep young men busy and engaged because idle young men are just trouble. Think of the Vikings. Hordes of young men stuck indoors for months at a time drinking, brawling and trying to screw Harald's daughters. So the adults arrange raiding adventures to keep the young men busy somewhere else.
The West is letting it's young men sit around doing drugs and screwing young women. Many never learn a trade then spend a lifetime as drifters in society. These young men never buy into modern civilization and act like barbarians within the walls.
Government and business elites have experimented with society and economics for the past 40 years while building a global economy based upon wild theory. Now that everything has been disassembled, nothing works.
For two years the government has been trying to put Humpty-Dumpty back together again but nobody is convinced that it can be done. The lies were exposed when the thing fell off the wall. Now the Fed and government is trying to walk a tightrope between deflation and inflation without a balancing pole. If they fall, everyone panics and runs away from the dollar to commodities. Then comes hyperinflation, apocalypse and then some rebirth of some kind.
Those of us who have counted on a defined benefit pension may be in the same boat as those who planned on getting a social security check. Totally fucked.
The funds are in dire straits since the 2008 economic collapse. All of the funds lost fortunes and with weak to non-existent investment returns, cannot makeup their losses. So many funds may have to be turned over to the PBGC, which relies of government funding to pay benefits.
If Uncle Sam goes bust there won't be any social security or PBGC pension payments. For that matter, you won't have any 401k or other savings either, because the whole shebang will collapse. It sucks to be old right now.
This house of cards looks awfully shaky right now.
posted by lugh lampfhota at 8:50 PM
1 Comments:
"Think of the Vikings. Hordes of young men stuck indoors for months at a time drinking, brawling and trying to screw Harald's daughters."
Dear Mr. Lampfhota:
Your above referenced statement (re: Vikings and King Harald's daughters) makes me think of "The Long Ships" by Frans G. Bengtsson. If you enjoy novels, you would like this book.
Linda P.
Bronx, NY
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