22 May 2010

"Gold is down. Silver is down. Oil is down....."

The euro is down. Mortgage rates are down. Mortgage applications are down.

The main thing that is up is mortgage payment skipping. At least 10% of American households missed a monthly mortgage payment during the first three months of 2010. This is an all-time high in the post-World War II era. The rate was 9.1% in the first quarter of 2009. It rose to 9.5% in the final quarter. The trend is ominous. Americans will stop making payments on every other category of debt before they skip a mortgage payment. The fact that they are skipping mortgage payments indicates that they are in very tight straits. _GaryNorth
And the future doesn't look a lot better -- not with the current crop of university students, graduates, and the monkey-minded professors who are lobbing balls of shite into their heads:
Universities are sending young achievers out into the world with the words of rabid leftists ringing in their heads. It's a dismal picture, given the future the [leftists] running Washington have created.

...universities are no longer places to question authority, but cheerleaders for the establishment. It's a sad sight, given that it is graduates who will in the end be forced to foot the bill for these big-government excesses and warped values. _IBD
We are living in a "dumbed-down" world from top to bottom, of course. Parents abdicate their duties to raise their children to popular media and a leftist-curricula government educational establishment. Children are pampered, indoctrinated, have their self-esteem pumped up -- and are never really challenged, never pass through a distinct rite of passage separating childhood from youth. A bumper crop of Peter Pans and Cinderellas are flooding into the world, with no idea how to think, or what to do with themselves.

And that is just the way Obama Pelosi wants it. Because now that they've got the system twisted into the shape they like, who is ever going to be able to challenge them now, with the dumbing down of all future generations assured?

And the Obama Pelosi establishment intends to milk the taxpayer and the productive sector for every penny. And they don't mind breaking a few laws or traditions to do it:
From the G.M. bondholders, to the Black Panthers at polling stations, to ACORN to these assaults on private citizens, Obama is running a Hugo Chavez-style thugocracy. Like Chavez, he gets non-official "allies" to act as his henchemen and do the intimidation work. Obama provides the narrative and tells the story of "greed" while the SEIU provides the muscle. This is about power, not prosperity. _AndreaTantaros
Obama Pelosi's friends in the public sector unions are very happy with the way things are going. To make sure that the unions keep all of their friends in congress where they can do them the most good, the unions plan to spend $100 Million to grease the "wheels" for the 2010 mid-term election.
The American Federation of State, County and Municipal Employees (AFSCME) plans to spend in excess of $50 million during the 2010 campaign, part of which will fund “a massive incumbent protection program,” according to Gerry McEntee, president of the union.

AFSCME spent roughly $67 million on its political activities in 2008. But the $50 million slated for the 2010 elections is the largest expenditure the union will make in a midterm election, according to union officials. The money will go to help defend the union’s top tier of eight Senate seats and 34 House members.

“We have got to protect the incumbency in the House. We have got to protect the incumbency in the Senate,” McEntee said. “It is going to be hard. Those tea-baggers are out there. There is an anti-incumbency mood out there.”

…The Service Employees International Union (SEIU) plans to spend $44 million in total on its 2010 election program. The union spent $85 million on its 2008 campaign, according to union officials. _The Hill_via_Gateway
That $100 million will be money well spent for the public sector unions, since the largesse of government extends all the way down from the federal level to the states, and to counties and municipalities. All of these levels of government are sinking under debt and pension obligations to public sector employee unions. Thousands of bankruptcies would be inevitable if not for the ability to get federal bailouts. It's like one big happy (crime) family! Only the taxpayer suffers, and if you're the unions: who cares about the taxpayer?

The Obama Pelosi criminal way needs only one thing more: a steady supply of uneducated, untrainable, and highly manipulable future voters -- by the millions. And it doesn't have to look far to the South to find them.
Various estimates put the illegal immigrant population in the U.S. between 10 and 20 million. One argument says we can't round up and deport all those people. That argument differs little from one that says since we can't catch every burglar, we should grant burglars amnesty. Catching and imprisoning some burglars sends a message to would-be burglars that there might be a price to pay. Similarly, imprisoning some illegal immigrants and then deporting them after their sentences were served would send a signal to others who are here illegally or who are contemplating illegal entry that there's a price to pay.

Here's Williams' suggestion in a nutshell. Start strict enforcement of immigration law, as Arizona has begun. Strictly enforce border security. Most importantly, modernize and streamline our cumbersome immigration laws so that people can more easily migrate to our country. _WalterWilliams
WHOOOPS!!! Dreadfully sorry. I must have allowed that politically incorrect Walter Williams to insert his opinion, instead of printing the ever-so-correct opinion of Obama Pelosi on immigration. I'm running out of space, so I will just summarize: Obama Pelosi says "Let everybody in as long as they're impoverished, ignorant, and likely to stay that way. That way we can be assured that they will vote for us -- because we will always give them free goodies and take care of them."

Obama Pelosi happens. It happens because enough voters were stupid enough to let it happen. If you're part of the thugocracy or the idiocracy, you are happy with Obama Pelosi. If not, you will either fight back, go Galt, jump in a lake, or find somewhere else to live.

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Blogger George said...

I agree with the Zombie voter plan as the dregs of society vote Democrat because that's all they know.

As for education I will have to say this. I graduated from high school 1n 1966 and then went into the NAVY for almost a soggy decade. In the late 80's I started attending college for a computer science degree. I already was carrying a business card that had my title as a network engineer and I was shocked that in my C+ class I was compiling code on 286 processors that crashed at least once during the class.

I was working with Sun Sparc Stations and Apollo Computers where I worked and after the first class I started taking CLEP tests to accumulate my credits.

After all, in my life experiences I had forgotten more than most of my professors knew.

My 1966 high school education is probably more than the education a person receiving a BA has today.

So yes, I agree. They want the uneducated voters.

Saturday, 22 May, 2010  
Anonymous Anonymous said...

Or just accept that human nature is ill suited to sustainable civilization and ride the hand cart to Hell.

Saturday, 22 May, 2010  
Blogger George said...

I'm not riding in that handbasket.

Saturday, 22 May, 2010  
Blogger George said...

I have other plans.

Saturday, 22 May, 2010  
Blogger okjohn said...

I'm not sure what the inflecton point is but at some point it has to fall down, Some are worried about the fed debt and some the states, and others the personal the personal is disinflationary but if you add state and fed together and they keep bailing out at 5 or 6 or tops 7 percent intrest and one or two more years debt we will have inflation and with less being produced and way more money out there made up by the gov something has to crack. The big problem is no one knows what to replace it with.
If you read Gary North regularly he had a post out awhile ago about kicking the can, the quick fix would be to cut most all social programs, freze taxes where they are let the states compete for the citizens, thru different laws instead of fed buracary pay down the debt and start getting rid of all the bogus laws that do not count.
The money we spent is not the problem it is the money we have promised to the future that is going to screw us and if we do not want the riots in the streets (not sure if I would mind) but there are ways around it if they would quit lying to eveyone.

Sunday, 23 May, 2010  
Anonymous Anonymous said...

North is partly wrong. According to an article I read a lot of consumers stop paying their mortgage while still paying their other debts. The reason for this is that it typically takes about a year in most states to use the foreclosure process to finally evict defaulted borrowers and take possession of the home used as collateral.

Sunday, 23 May, 2010  
Blogger al fin said...

Ron: Yes, and a lot of people are walking away from their mortgages who really don't have to -- because it is convenient. That illustrates the generational change as well as anything.

And gold and silver are not really down, either. They dip and rise with changing economic realities. But they are both higher than they were a few years ago.

Obama Pelosi has set the table for true, long-term devastation. If the economy experiences a few pseudo-recoveries before the real pain sets in, perhaps you can take advantage of the swings to build or protect some assets.

But only if you understand the underlying mechanisms that are now in play. If you're just watching the stock market bouncing up and down and watching the financial news shows, you will not be prepared.

Monday, 24 May, 2010  
Blogger gtg723y said...

gorge: Not all educations are created equally, and not everyone needs to attend college to achieve in life. Most of my high school friends wasted precious time and money going to college. They graduated college and found jobs that they could have easily performed with a high school education, but competition for those jobs drives the need for higher and higher degrees of education. Why does a librarian need a masters?

My degree is not in a soft subject, it is in mechanical engineering, currently I am a stay at home mom, you can decide whether or not that was a waste. Because of my education I can tell you this, some things you can't get through life experience like DiffEQ, I don't work problems anymore but because I did I think and solve engineering difficulties more efficiently than I other wise would have. The real problem is that the government keeps getting involved rather than letting the private sector and individuals work things out. I have an infant yet 50% of my local taxes go to the local public school and I can't get out of it. I will home school my child yet will pay for public school, because the government makes me. I can spend 3 grand a year much more efficiently towards my child's education than the county can but I will not be able to because the county takes my money.

Al Fin: I read an article describing people that evade foreclosure and go out on expensive vacations to celebrate their good fortune. When the day of reckoning comes I will not feel sorry for anyone, too many briers not enough wheat for me to care.

The real difficulty is in predicting when all the pressures applied will effect our economic machine. It is a very large system that they are trying to effect, and I get the feeling that everything will be chugging along just fine until an unpredictable hiccup, or perhaps a harmonic will establish itself. Perhaps when someone gets nervous about their money and tries to pull it all out to purchase gold and the bank won't let him. Or when the peaks and valleys of the stock market grow and grow until investors get sick of it and just pull out. But when those events occur is the question, I have read as early as 2013 and as late as 2018. Do any of you have predictions?

Tuesday, 25 May, 2010  
Blogger al fin said...

gtg: A lot of things might disrupt the flow of food, water, fuel, funds, and other essentials.

Some groups are on a tinderbox, just waiting for an excuse to flare up.

Public sector unions certainly feel entitled, and if they don't get what they want they are apt to turn violent.

You are an exception among Gen Y'ers, in that you are choosing to be responsible, rather than staying a part of the group mind-meld.

Most Gen Y'ers seem to feel very special, deserving of pampering and patronising. People like that can go off on a hair-trigger, if they don't get what they absolutely feel they are entitled to.

Obama tries to make people feel even more entitled than they already do. So does La Raza and the other hispanic revolutionary groups that are popular with a lot of hispanic Gen Y'ers.

Tuesday, 25 May, 2010  
Blogger George said...


I'm not knocking your degree at all.

Education is a wonderful thing but is it practical?

We do tower climbing work and that puts us, when we work out of the class room laboratory element.

We are mechanical engineers working hundreds of feet above the ground.

We never know what we will run into once we get up there.

Have your teachers actually done this?

My experince with educators is they will tell you how to dig a hole but they have never ever dug one.

Wednesday, 26 May, 2010  
Blogger gtg723y said...

Georgia Tech has standards. Most if not all of my professors have spent time in industry before getting into research, many winning awards from ASME for their performance in, and advancement of engineering. Most if not all of my professors do research for either industry or are making significant strides in bio-medical engineering designing artificial cartilage, ligaments and joint replacements.

In my previous position
I used 3D CAD and FEA to design machines and develop PM schedules, or to determine the cause of repetitive failures so that those issues can be addressed. While knowing how to install a sensor is a skill that is worth paying for, as it is important to have it done right the first time, it should not be mistaken with the skill of knowing where to put it, understand its output, and implement design changes due to that understanding. While disrupting production as minimally as possible. A good ENI technician is worth as much as a good engineer, but they are not the same, and shouldn't be treated as such.

Thursday, 27 May, 2010  

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“During times of universal deceit, telling the truth becomes a revolutionary act” _George Orwell

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