And the money we are spending on Libya. Cheers for the link btw.Ferru123 wrote:Ditto Britain - Right now, we could really do with the money Blair spent on invading and occupying Iraq...
QE3?
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Indeed. It's strange that it's taking so long - surely it shouldn't take months and months for America, Britain and its NATO allies to defeat Gaddafi's regime...
Re: The link - You're welcome.
Jeff
Re: The link - You're welcome.
Jeff
andyfuller wrote: And the money we are spending on Libya. Cheers for the link btw.
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But we aren't there to defeat GaddafiFerru123 wrote:Indeed. It's strange that it's taking so long - surely it shouldn't take months and months for America, Britain and its NATO allies to defeat Gaddafi's regime...
- superfrank
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this one? http://3.bp.blogspot.com/_9ZzZquaXrR8/T ... hology.pngandyfuller wrote:Do you have a link for that chart? Would like to pass it to my brother.
Completely agree. When the federal budget numbers are filtered to remove spending on Social Security and Medicare/Medicare (programs that have their own dedicated taxes) and interest on the existing debt, the current federal spending is about $2 trillion per year in total. Of that amount, $700 billion is military spending (more than 10x what the UK spends as the #3 country in the world in military spending).Ferru123 wrote:IMHO, the best place for America to start saving money is in its military expenditure.
So essentially 35% of all income tax revenue collected (individual + corporate) gets "invested" into assets and services that produce no yield - in fact, if/when those assets are actually deployed, whatever is on the receiving end usually ceases to exist... so not only do those assets not produce any positive yield, their use usually leads to negative changes in productivity, not even just simply a zero yield.... certainly some level of defense spending is necessary, and it is difficult to say exactly what is the right amount... but I have a really hard time believing that "right" amount is anywhere even close to 35%... even half that would seem to already be overkill...
Robert Peston writes on Twitter that: 'What's happening on US stock markets looking increasingly like a Minsky moment. Shares being dumped as we head for the close.'
This is what a Minsky moment is: http://en.wikipedia.org/wiki/Minsky_moment
I'm not sure what follows a Minsky moment, but it's probably not a recovery...
Jeff
This is what a Minsky moment is: http://en.wikipedia.org/wiki/Minsky_moment
I'm not sure what follows a Minsky moment, but it's probably not a recovery...
Jeff
Referencing the chart superfrank posted on Saturday, I would think a "Minsky Moment" is most likely part of a "capitulation" phase (although not necessarily)...Ferru123 wrote:I'm not sure what follows a Minsky moment, but it's probably not a recovery...
- superfrank
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All as predicted, gotta start backing my own judgement!
superfrank wrote:Sat Jun 04, 2011 12:39 pm
This is how I reckon it will play out...
- more weak economic data as QE2 wears off through the summer.
- oil and equities under pressure and some sharp falls similar to what happened in 2008.
- political pressure mounts as people demand that "something must be done" (crybaby capitalists as Gerald Celente calls them).
- the govt. and FED cave in and QE3 begins (maybe not called QE this time, for political reasons, but essentially the same thing - cheap/free money).
- superfrank
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The FED really are a pathetic bunch of corrupt tossers.
Looking at America's checkbook: What the U.S. makes and spends
http://am.blogs.cnn.com/2011/08/12/look ... nd-spends/
http://am.blogs.cnn.com/2011/08/12/look ... nd-spends/