DOOM: I just can't quit you, baby

DOOOOM

It's the triumphant return of DOOM, my groovy babies! Feel the burn! The rumors that the band broke up are a tissue of lies. This won't be a daily gig any more, but I'll try to deliver a dose of gloom, pessimism, and snide commentary once or twice a week.

Dear Grandkids: you are screwed, and it's largely our fault. Sorry about that. We'd send money, but we're vacationing in Cabo and need the cash for the condo and resort fees, and Gramp's new hip didn't come cheap. Love and kisses! Sincerely, Grammy and Grampy.

Fiscal prudence at last!

Snot, phlegm, and night-sweats are going to cost the US economy around $10 billion this year.

I just wouldn't be me if I didn't take the opportunity to give Social Security a kick in the nuts, so here's a high-stepping boot to the nads from the guys at ZeroHedge. With lots of ginchy chart-fu.

Michael Barone adds his voice to the chorus: the era of entitlements is almost over. (And not just in the U.S., but in other nations as well.) Barone, one of the sharpest political observers and historians of his generation, notes that history tends to move in epicycles, and this particular epicycle is about to end. We don't know what will come next, but the road between here and there is going to be rough.

Greece: the agony goes on. Apparently the Greeks didn't get the news that the Eurozone problem was solved. Maybe it's because they're preoccupied with trying to find a way to heat their homes.

You load sixteen tons and what do you get? Another day older and deeper in debt. A product or service is only worth what people are willing to pay. Your labor is a product you sell to your employer, and it's as prone to market pressures as any other good.

His Majesty the King may believe that we do not have a spending problem, but America's public spending -- from the municipal level all the way up to the federal -- simply cannot be sustained.

Will we see annualized investment-return rates in the 10% range again, on a sustained basis? The demographics argue against it. From the article:

Noting the financial pressures on programs like Social Security and Medicare, the authors conclude that the need to forecast government policies may be one of the most difficult challenges facing retirement-age households.
I'll give you some free advice: don't listen to the Feds shining you on about the health of Medicare or Social Security. Save your own money, spend wisely, keep yourself physically and mentally fit, and plan to live prudently (and perhaps a bit austerely) in your old age.

Retiring Boomers are going to be selling into the markets, not buying, and younger adults aren't going to have as much investment capital to throw around. Investment returns are likely to suck for a long, long time to come...and that has some grim implications not just for individual investors, but for public entities that incur pension obligations and the like. Most state and municipal pension actuaries still estimate an aggregate yearly return in the 7-8% percent range, while reality suggests that the real number might be more in the 4-5% range. That translates into tens of billions of dollars -- maybe hundreds of billions -- in unfunded pension and other benefit obligations over the next couple of decades.

By the way, China is not going to bail us out. They've got even an even bigger retirement problem than we do.

Generalized S&P 500 returns for the last decade? Between zero and two percent or so, if you adjust for inflation and depending on how you calculate. If you invested money into the market in 1999, chances are that money returned between jack and squat between 1999 and 2011. It's likely to be even worse in the next decade or two. And the sad part? Stocks are still the smart play if you're an investor, because bonds are even worse. The take-away from this is that there's no substitute for saving your own money: you can't count on investment returns to make up any shortfall in saving. (But I guess you can take the optimist's position that in the long run we're all dead, so the best course of action is to live for the moment.)

For all the (fully justified) angst about federal spending, some of the worst public-finance disasters are at the state and municipal level. California is, as I have noted on many occasions, boned. Very, very boned. Illinois, New York, Rhode Island, Connecticut, and New Jersey are likewise very boned. This is the real calamity: federal debt, serious as it is, is rather attenuated in terms of how it affects your daily life. But when your city or state goes broke, you feel it very directly. Streets go unrepaired, streetlights burn out and remain dark, trash doesn't get picked up, crime spirals out of control. Just see how things are playing out in San Bernardino or Detroit these days.

And to those states who think they can tax themselves out of the hole they've dug for themselves: people won't just stand around like sheep waiting to be sheared. In fact, what happens is that the very people an economy needs the most (young, dynamic, industrious) leave while the most expensive and unproductive (the old, the poor, and the sick) stay.

Somebody alert Teh Krugman! Regarding the national debt, the notion that "we owe the money to ourselves" is bullshit. Furthermore, it has been known to be bullshit for a good long while. Yet somehow the canard never dies. Remember, kids: "money" and "wealth" are not the same thing.

James Buchanan on Keynes and the end of the Victorian economic sensibility.

[...]Keynes totally failed to recognize that the long-standing rules for fiscal-monetary prudence were required to hold the tribal instincts in check, and that, once the Victorian precepts were eroded, the tribal instincts would emerge with force sufficient to overwhelm all rationally derived argument.

It's hard out there for a chimp.


Posted by: Monty at 08:32 AM



Comments

1 testing 123

Posted by: DangerGirl - feeling empty at January 14, 2013 08:38 AM (PQ63m)

2 Finally it lets me post again!

Posted by: DangerGirl - feeling empty at January 14, 2013 08:39 AM (PQ63m)

3 What a glorious day! DOOM is back!

Posted by: Swanny at January 14, 2013 08:39 AM (ZthpO)

4 Wisconsin lowering state taxes...yeah! However, I am sure the Illinois DOOM will creep north..

Posted by: Popcorn at January 14, 2013 08:39 AM (uIpSF)

5 * Monty *

* DOOM *

Posted by: IllTemperedCur at January 14, 2013 08:39 AM (KZuD1)

6 Hey! Monty! We love you! (man hug).

Posted by: Cicero Kid at January 14, 2013 08:40 AM (kWFP3)

7 Welcome back Monty and DOOM!

So my company is laying off a bunch of corporate folks and now the rumor is they're scrapping the entire second shift in our California plant. The economy continues to improve comrades! Sweet nectar of DOOM abounds.

Posted by: DangerGirl - feeling empty at January 14, 2013 08:41 AM (PQ63m)

8 OMG welcome home Monty.


Posted by: sven10077 at January 14, 2013 08:42 AM (LRFds)

9 I've missed the Doom. Actually, my doctor told me thatI haven't been getting enough doom in my diet lately.

Posted by: Ben at January 14, 2013 08:43 AM (C2Y4l)

10 (((Doom)))

Posted by: RWC at January 14, 2013 08:44 AM (fWAjv)

11 6 Hey! Monty! We love you! (man hug).
Posted by: Cicero Kid at January 14, 2013 08:40 AM (kWFP3)



Homo.

Posted by: IllTemperedCur at January 14, 2013 08:44 AM (KZuD1)

12 Monty I think the GOP woud be well served making "Shut up and work" it's motto.

At some point were going to have to implement the phase out of the social safety hammock we discussed before your hiatus.

May as well get in front of the ball to get your "Indiana Jones national sprint champion" motivation.

Posted by: sven10077 at January 14, 2013 08:44 AM (LRFds)

13 I've started doing my kids' household chores for them, since I feel a little guilty about the assload of government debt they're going to have to deal with when they get older.

Posted by: JohnTant at January 14, 2013 08:45 AM (tVWQB)

14 GOD Bless You, Monty and Welcome Home.

Posted by: Big F-n Deal Biden at January 14, 2013 08:46 AM (44PWr)

15 Doom, dispair, and agony on me.

Posted by: Hee Haw at January 14, 2013 08:48 AM (i7B17)

16 Monty I think what is at risk in the "lower profit potential era" we are entering is the massive venture pools.

Opening a pizza joint is probably a better "investment" right now than giving Warren Buffet more play money.

Posted by: sven10077 at January 14, 2013 08:49 AM (LRFds)

17 Led Zeppelin, "I Can't Quit You, Baby."

Hey, where's Mary Poppins with some good Hollywood deviance from the golden age?

Posted by: J.J. Sefton at January 14, 2013 08:49 AM (XkWWK)

18 Yay for DOOM!

Posted by: Bevel Lemelisk at January 14, 2013 08:49 AM (uhAkr)

19 We need a black kitteh walking towards us on a railroad track.



Welcome back, Monty!

Posted by: Tami at January 14, 2013 08:50 AM (X6akg)

20 Considering Michael Barone's election prediction, and the nature of the government and Free Shit Army, I believe his statement that entitlements are dead is a tad premature.

Posted by: J.J. Sefton at January 14, 2013 08:50 AM (XkWWK)

21 Ah, my favorite AOS commenter. Welcome back Monty!



Posted by: DiogenesLamp at January 14, 2013 08:50 AM (bb5+k)

22 HI MONTY
glad you're back
love the DOOM kitteh

Save your own money, spend wisely, keep yourself physically and mentally
fit, and plan to live prudently (and perhaps a bit austerely) in your
old age.


excellent advice

Posted by: chemjeff at January 14, 2013 08:51 AM (BBWjt)

23 welcome home monty

Posted by: phoenixgirl at January 14, 2013 08:52 AM (GVxQo)

24 Barone is full of shit. The era of free shit will not be up until the choom king is out of office and someone in the Republican Party grows enough balls to say that we can no longer support the FSA.


I suspect that will never happen. The only thing that will kill it will be the final collapse. And it is not the baby boomers and SS that will kill it. Remember those two fixes that jacked up SS withholding and raised retirement ages? Those were verified and calculated to hold up SS past the death of the boomers.



So what happened? Those greatest generation assholes like LBJ spent all those SS tax increases and put paper notes in the "trust fund".


Now they are talking about yet another fix. They can all go to hell as far as I am concerned.

Posted by: Vic at January 14, 2013 08:52 AM (53z96)

25 20 JJ Sefton,

You can flap your arms REALLY hard but in the end gravity kills.

What I'm saying is Barone is right whether he's right or not.

Barack cannot EO away gravity.

Posted by: sven10077 at January 14, 2013 08:52 AM (LRFds)

26 Just another Doom Monday.

Posted by: Anna Puma (+SmuD) at January 14, 2013 08:53 AM (znavB)

27 As for people fleeing high taxes, I wonder when a 'exit tax' will first be floated, made high of course to discourage people leaving.

I have seen the future, and it is serfdom.

Posted by: Bevel Lemelisk at January 14, 2013 08:53 AM (uhAkr)

28 MY GOD! IT'S FULL OF DOOM!

Posted by: General Woundwort at January 14, 2013 08:54 AM (RrD4h)

29 24 Vic,

Heh it was always a scam Vic.

It was designed to be structurally unsound, and largely to drive us into becoming EUtopia.

Luckily the EUtopians showed that even being EUtopia screws you.

Posted by: sven10077 at January 14, 2013 08:54 AM (LRFds)

30 DOOM!!!! Hooray.

China won't have the same problems with the elderly that we do. They will have no problem withholding meds for "The good of the state". They'll kill em like Chickens on a farm.

Posted by: Oldsailors Poet, Author of Amy Lynn available on Amazon. http://tinyurl.com/ahc8poj at January 14, 2013 08:54 AM (l86i3)

31 sven10077:

One of the many canards out there right now is that it's easier for individuals and small businesses to borrow money. It's not. It's easier for larger firms or banks to borrow money, but if you're just some guy or gal with a dream? Forget it.

And the problem with venture capital right now is twofold. One, investment is still driven by short-term returns, and yield is really all that matters to most investors now; "buy and hold" is as dead as the high-button shoe. Second, there is just too much uncertainty now: technology, governmental regulation, demographics...no one knows what the "next big thing" is going to be, and venture firms are becoming more rather than less conservative with their money.

Posted by: Monty at January 14, 2013 08:54 AM (4Pleu)

32 Well, that was all very depressing.

Posted by: BCochran1981 at January 14, 2013 08:55 AM (da5Wo)

33 27 Bevel L,

I've seen the future and it is a total rage and apathy at "the law' if they play those games.

The roarring 20s and dustbowl depression crime wave will look like small taters.

Posted by: sven10077 at January 14, 2013 08:55 AM (LRFds)

34 TFG, "Economic gravity, how does that work?"

Jarret the Ferret, "Just write an EO and all will be well."

TFG, "Okay, boy being President is hard."

Jarret the Ferret, "Here sir, have a yo-yo."

Posted by: Anna Puma (+SmuD) at January 14, 2013 08:55 AM (znavB)

35
So what happened? Those greatest generation
assholes like LBJ spent all those SS tax increases and put paper notes
in the "trust fund".


Now they are talking about yet another fix. They can all go to hell as far as I am concerned.


Posted by: Vic at January 14, 2013 08:52 AM (53z96)
This was pointed out by Republicans in the past, so what happened? The media said "Look! Squirrel!" and everyone stopped paying attention to the fact that the Democrats have been screwing us and spending.
Again, the problem with governing this nation is that the Left is completely in charge of the means of informing the American public. It is not possible to get the public to pay attention to serious issues because the left wing wants to preoccupy them with trivia and nonsense.

Media media media media media. It is our greatest weakness and the most dire threat.



Posted by: DiogenesLamp at January 14, 2013 08:56 AM (bb5+k)

36 Jarret the Ferret, "Here sir, have a yo-yo."


Posted by: Anna Puma (+SmuD) at January 14, 2013 08:55 AM (znavB)


I set the over/under at 4 minutes before he manages to tie his hands together.

Posted by: BCochran1981 at January 14, 2013 08:56 AM (da5Wo)

37 Welcome back, Monty!...thanks for the Doom Kitteh...

Posted by: CanaDave at January 14, 2013 08:57 AM (voRpZ)

38 Doom is all around us.

Posted by: dantesed at January 14, 2013 08:57 AM (rWTN6)

39 Media media media media media. It is our greatest weakness and the most dire threat.



Posted by: DiogenesLamp at January 14, 2013 08:56 AM (bb5+k)

Good to know.

Posted by: Oldsailors Poet, Author of Amy Lynn available on Amazon. http://tinyurl.com/ahc8poj at January 14, 2013 08:57 AM (l86i3)

40 31 Monty,

Yup, we've discussed at length the horseshit notion that banks are 'giving away interest free loans."

What we're seeing is a bunch of powerful assholes who are gaining no return on ventured capital squeezing out potential innovation. You ever look at our current bankers orgy and wonder if this is what the french based Rentes economy felt like?

When i say "open a pizza joint" with you liquid capital I literally mean "you getting a real 500 bucks a month under the table for say a 20,000 start up stake" is a better and safer bet than beating stagflation on the Dow or your Social Safety hammock losses.

Posted by: sven10077 at January 14, 2013 08:58 AM (LRFds)

41 So what happened? Those greatest generation assholes like LBJ spent all
those SS tax increases and put paper notes in the "trust fund".


That's the Milo Minderbinder plan -- everyone has a "share"...

...Oh, and now your parachute is gone.

Posted by: @PurpAv at January 14, 2013 08:58 AM (BNacf)

42 BCochran, LOL

TFG, *thump*

Posted by: Anna Puma (+SmuD) at January 14, 2013 08:58 AM (znavB)

43 And the problem with venture capital right now is twofold. One,
investment is still driven by short-term returns, and yield is really
all that matters to most investors now; "buy and hold" is as dead as the
high-button shoe



Buy and hold has been over for institutionalized investors for decades. I have been saying for a long time now that stock market prices of stocks don't reflect anything about the company those stocks represent. It is all a short term gambling exercise by the brokers trying to make a quick buck


There are a few like me who bought tracks of high dividend paying blue chip stocks for long term retirement investments. We are few and far between now.


The average Joe is insane if he thinks he can make money being a "day trader" on Wall Street.

Posted by: Vic at January 14, 2013 08:59 AM (53z96)

44 Welcome back . This must mean the " shelter / compound " is finished .

Posted by: Bill D. Cat at January 14, 2013 08:59 AM (BYxr7)

45 Barack Obama is a stuttering clusterf*ck of a malignant traitor.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 08:59 AM (5DR1j)

46
The roarring 20s and dustbowl depression crime wave will look like small taters.


Posted by: sven10077 at January 14, 2013 08:55 AM (LRFds)

Been saying that for years. The people of the 1920s were far hardier and far more ethical and moral (most of them) than are people nowadays. When a depression-like misery occurs in THIS society, they are going to burn down anything they can in a fit of rage.
All those zombie movies? Good training for the future.



Posted by: DiogenesLamp at January 14, 2013 08:59 AM (bb5+k)

47 35 Diogenes lamp,

Indeed and we in the GOP were complicit in the sense we did not mock the fuckers and take the political hit.

The nation is gonna split up or one side or the other is getting ground to dust.

This hybrid shit is gonna end soon there simply is not enough money left to have a fully funded free shit army, AND an economy.

Posted by: sven10077 at January 14, 2013 08:59 AM (LRFds)

48 Doom! Doom I tells ya! Doom is back in black, large and in charge!

The return of Doom brings a tear to this ole eye!

Hey Doomguy, can you summon that SMOD feller? We need him bad!

Posted by: Judge_Roy_bean at January 14, 2013 09:00 AM (kLs5Y)

49 I love the smell of DOOM in the morning... smells like failure.

Posted by: Joe in TX at January 14, 2013 09:00 AM (pjusE)

50 DOOM! is back! DOOM! is back!


I'm so happy!

We missed you, Monty.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:00 AM (5DR1j)

51 Monty! Monty! Monty!

glad to see you are around even if still Doomy!

Posted by: ette at January 14, 2013 09:00 AM (nqBYe)

52 Coffee, Monty, and a kitty.

NOW it's a real Monday.

Monty, how are you? Hope your life was well last year.

Posted by: Mama AJ at January 14, 2013 09:00 AM (SUKHu)

53 OT since AllenG claims to have a blog.

http://annapuna.blogspot.com/2013/01/move-to-shrangri-la.html

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:01 AM (znavB)

54 Hey Vic, how come no wake up call in the THC?

Posted by: BCochran1981 at January 14, 2013 09:02 AM (da5Wo)

55 30 OSP,

Um Old Sailor's Poet what do you think NHS "human dehydration" and IPAb are about?

The democrat platform is "Soylent Green" bud.

Posted by: sven10077 at January 14, 2013 09:02 AM (LRFds)

56
Good to know.

Posted by: Oldsailors Poet, Author of Amy Lynn available on Amazon.
http://tinyurl.com/ahc8poj at January 14, 2013 08:57 AM (l86i3)


Ha! You and I et al may get this, but it needs to develop into a consensus. The best way to accomplish this is to keep pointing it out. (i.e. "buzz.")



Posted by: DiogenesLamp at January 14, 2013 09:02 AM (bb5+k)

57 AllenG has a blog??? WTF? When was he going to tell someone?

Posted by: BCochran1981 at January 14, 2013 09:03 AM (da5Wo)

58 Collapsing above-ground economy = thriving under-ground economy.

Maybe Canadian or Australian dollars will be the benchmark underground currency?

Posted by: @PurpAv at January 14, 2013 09:03 AM (BNacf)

59 So, not a word about stagnant wages and immigration...riiight..

Posted by: jeanne at January 14, 2013 09:03 AM (ZODhD)

60 "Money and wealth are not the same thing". Best part of the post - and something that probably one citizen out of a hundred absolutely does not understand.

Posted by: tubal at January 14, 2013 09:03 AM (BoE3Z)

61
The average Joe is insane if he thinks he can make money being a "day trader" on Wall Street.


Posted by: Vic at January 14, 2013 08:59 AM (53z96)

I agree. I gave that stuff up years ago. Did pretty good at it for awhile though.
Now stuff is so overvalued I wouldn't touch it.




Posted by: DiogenesLamp at January 14, 2013 09:04 AM (bb5+k)

62 Why does doom warm my heart?

Posted by: dogfish at January 14, 2013 09:04 AM (N2yhW)

63 I thought algae was supposed to save us.

(Welcome back, Monty!)

Posted by: HeatherRadish™ is at work and hates everyone at January 14, 2013 09:04 AM (ZKzrr)

64 While researching a future post about underground economies, I found some interesting estimates of how large they are.

The US underground economy was estimated to be 7% of GDP. In other countries its as high as 25%

You can't fool the invisible hand...

Posted by: @PurpAv at January 14, 2013 09:05 AM (BNacf)

65 Glad to see you back Monty,,,,,,,,,maybe now that Monty is back, I can finally get my 10,000 word tome to The Greatness.....That Is.....Zach Greinke published (look, can it be worse than some of Ace's movie reviews?)

The money shot from Monty:

His Majesty the King may believe that we do not have a spending problem, but America's public spending -- from the municipal level all the way up to the federal -- simply cannot be sustained.

If you really, really want to cry, figure out your actual tax rate (not just federal, but state, real estate, sales, use, etc) and I promise you, you will soon realize that you work for the government, not the other way around. Really, want to cry, add in all the so-called "licenses" and "permits" (which are taxes with just a different name to make you think you are not paying a tax) and you will really get depressed.

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:05 AM (OWjjx)

66 Algae or Al Gorezeera? Can never tell them apart.

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:05 AM (znavB)

67 China won't have the same problems with the elderly that we do. They
will have no problem withholding meds for "The good of the state".
They'll kill em like Chickens on a farm.


If Soylent Green ever really gets developed, my money is on China or Japan to do it first.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:06 AM (5DR1j)

68 Morning, all - apologies for no story, but first meeting of the morning began before the headlines thread was up and ended just now. I'll have a real story tomorrow; here's a quick one-liner:

Tallulah Bankhead arrives at MGM to begin her movie career. Her first words to head of production Irving Thalberg: "Dahling, how does one get laid in this dreary place?"

Thalberg back: "Just ask around. I'm sure someone will accomodate you."

BTW, as I was walking back to my desk, I see CNN has a chiron reading "Powell on GOP's 'intolerance.'" Anybody know what that crypto-demcockholster is whining about now?

Posted by: Mary Poppins' Practically Perfect Piercing at January 14, 2013 09:06 AM (zF6Iw)

69 54 Hey Vic, how come no wake up call in the THC?
Posted by: BCochran1981 at January 14, 2013 09:02 AM (da5Wo)

Legalize It!!

Posted by: RWC at January 14, 2013 09:06 AM (fWAjv)

70 59 jeanne,

The word is built into Monty's point on the flatlined SP....the stagnant wages and immigration are the ONLY thing making anything look stable.

Dirty little secret is the ONLY way to get legitimate growth is to unfuck the economy from EPA's asshattery and neo-luddism and get the democrats hand out of the back pocket of the industrious for a few decades.

The American people in their infinite wisdom just told a quadrillion dollars worth of energy potential "no thanks."

We will not thrive until we endure some harsh lessons on free lunches, and November was nothing if not "I wanna fwee lunch Mistah Barry!"

We deserve everything we're gonna get.

Posted by: sven10077 at January 14, 2013 09:06 AM (LRFds)

71 Awright! Monty's back!

Not that Doom is a good thing, but at least with Monty it's not quite as depressing.

Posted by: grognard at January 14, 2013 09:06 AM (NS2Mo)

72 The average Joe is insane if he thinks he can make money being a "day trader" on Wall Street.

According to the statistics, the Average Joe voted for Obama. I think we may be past the point of debating the sanity of the Average Joe.

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:07 AM (OWjjx)

73 This hybrid shit is gonna end soon there simply is not enough money left to have a fully funded free shit army, AND an economy.


Posted by: sven10077 at January 14, 2013 08:59 AM (LRFds)

I agree, but I think the left is going to try to do what the left always tries to do. Force their non-workable fantasy ideas to work by killing off dissidents and stealing their property. Lenin/Stalin, Hitler, Mao, etc. always end up with a financial windfall by acquiring assets of the recently deceased.

I think they will try to do it to us in their last effort to remain in control.



Posted by: DiogenesLamp at January 14, 2013 09:07 AM (bb5+k)

74 The average Joe is insane if he thinks he can make money being a "day trader" on Wall Street.


Average Joe is way to busy trolling.

Posted by: Oldsailors Poet, Author of Amy Lynn available on Amazon. http://tinyurl.com/ahc8poj at January 14, 2013 09:08 AM (l86i3)

75 Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:05 AM (OWjjx)


I did that back when I was still working. My actual tax rate was just over 50% and that was with the so-called Boooosh tax cuts. It would be even higher now. Besides we have had another sales tax increase here since then.

Posted by: Vic at January 14, 2013 09:08 AM (53z96)

76 People say DOOM is back, but in reality, it never left.

Good thing we're finally keeping tabs on it again.

Posted by: JDTAY at January 14, 2013 09:08 AM (a0nis)

77 64 Purple Avenger,

and if I trusted the democrats to be merely corrupt I would not be as angry as I am.

That is 18% wiggle room we'd have, but they want drones so that if you were to "open an illegal mine" on federal land they can kill you or ruin you.

When this nation finally takes the mask off and goes full bore tyrant we're gonna be the best tyranny in the world.

Posted by: sven10077 at January 14, 2013 09:09 AM (LRFds)

78 BTW, as I was walking back to my desk, I see CNN has
a chiron reading "Powell on GOP's 'intolerance.'" Anybody know what
that crypto-demcockholster is whining about now?

Posted by: Mary Poppins' Practically Perfect Piercing at January 14, 2013 09:06 AM (zF6Iw)


Short version: "Dark vein of intolerance" "Code words" "Calling a black man 'lazy' is racist" "GOP endorses/allows/started Birther movement".
He also bitched about things Palin and Sununu said, but didn't have the stones to actually call them out by name.

Posted by: BCochran1981 at January 14, 2013 09:09 AM (da5Wo)

79
"Everyone’s Moving Away"

We live in a tiny Indiana town. This past summer a couple from New York bought the only store in town and moved here.

Posted by: Cicero Kid at January 14, 2013 09:09 AM (kWFP3)

80 27 As for people fleeing high taxes, I wonder when a 'exit tax' will first be floated, made high of course to discourage people leaving.

I have seen the future, and it is serfdom.
Posted by: Bevel Lemelisk at January 14, 2013 08:53 AM (uhAkr)


CA ran that up the flagpole a few years back. Even here in Mordor-With-Sunshine they quickly shied away from it. But I expect it to come up again later this year.

Posted by: IllTemperedCur at January 14, 2013 09:09 AM (KZuD1)

81 Barone's article was great. His 76 year cycle of events was arbitrary, but who wants to quibble about years? We have had a Welfare State in America for about that long, and most are in some degree inured to, and dependent on it.

Posted by: tubal at January 14, 2013 09:09 AM (BoE3Z)

82 WOOT! MONTY!!!! YEAH!!!

Posted by: DefendUSA at January 14, 2013 09:09 AM (nAHMK)

83 Monty, I hope what this post means more than anything else, is that you're doing well.
Now if you could work up one of your Emporer of the Universe comments the world might come back into focus for me.
Besides, I think there are a number of folks here who have never had the "pleasure"...

Posted by: teej at January 14, 2013 09:09 AM (m9GfP)

84
HHhhmm,
Don't know if I should bethis far from the curb, my mom always said to look BOTH ways.....

Posted by: Richard at January 14, 2013 09:10 AM (Khl3H)

85 MPPP re: Colon Powell. This from NRO might help
http://tinyurl.com/d9dkp9q

And about Lang's Metropolis. Can you believe we were both right.

Rotwang cackles and holds up his artificial hand. "A hand is a small price to pay to resurrect Hel! Want to see her?"

So Rotwang takes Joh Federsen to the lab where the robot is. And he says, "Give me 24 hours and no one will be able to tell Machine-Man from real."

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:10 AM (znavB)

86 Um Old Sailor's Poet what do you think NHS "human dehydration" and IPAb are about?

The democrat platform is "Soylent Green" bud.


Posted by: sven10077 at January 14, 2013 09:02 AM (LRFds)

It's funny you should mention that. For years I was befuddled as to how anyone could be so stupid as to spend in the manner of Democrats. I kept coming back to the point that it was going to collapse eventually and very likely get a lot of people killed. I finally came around to the notion that perhaps that was the intention all along? You don't have to pay back debt when you kill off the creditors.



Posted by: DiogenesLamp at January 14, 2013 09:10 AM (bb5+k)

87 Wake up call??? I posted a heads up as soon as I saw the thread.

Posted by: Vic at January 14, 2013 09:10 AM (53z96)

88
January 14, 2013 (CHICAGO) (WLS) --
A new CTA fare structure goes into effect Monday. CTA base fares remain unchanged, but the price for passes is going up.


The majority of riders now will pay more to get around.

A few examples: the cost of a one-day pass will jump the most from
$5.70 to $10, up about 74 percent. Also, a three-day pass will increase
by $6, and a seven-day pass will increase by $5 and cost $28.

Most riders say they are upset about the fact that the 30-day pass will increase from $86 to $100.

CTA officials say times are hard, the agency needs the money and that
the increase puts CTA more in line with other transit systems around the
country.








For the children unions!

Posted by: TheQuietMan at January 14, 2013 09:11 AM (1Jaio)

89 I'll have the 12 oz. DOOM steak with extra DOOM sauce, a side of DOOM fries, and a bottle of your best DOOM wine.

That guy way over there gets the check.

Posted by: eman at January 14, 2013 09:11 AM (tBnjP)

90 73 Diogenes lamp,

Absolutely, look what nanzi Pelosi and Choom King are selling is that despite the fact they are controlling things down to what light bulb you can buy they are not responsible for U6 or UE3 being out of control....

to that I say 'fuck you"

This is not going to end well when the Media/Academia/Political Socialist hurdy gurdy runs out of the amazing technicolor dreamshow keeping people from noticing they can no longer dream.

"we'll see"

Posted by: sven10077 at January 14, 2013 09:11 AM (LRFds)

91 The 'M' on the end is unnecessary, if you want to know the true State of the Union.

Posted by: Judd Tuddson at January 14, 2013 09:11 AM (pQ5v1)

92 Why does doom warm my heart?

Posted by: dogfish at January 14, 2013 09:04 AM (N2yhW)

Schadenfreude. It means you are both right, (exonerated) and that people you don't like are going to suffer more than you. (if you have prepared.)


Posted by: DiogenesLamp at January 14, 2013 09:11 AM (bb5+k)

93 Buy and hold has been over for institutionalized investors for decades. I
have been saying for a long time now that stock market prices of stocks
don't reflect anything about the company those stocks represent. It is
all a short term gambling exercise by the brokers trying to make a quick
buck


Buy and hold died about 10 minutes after brokers realized their real money was in commissions and trading houses started giving outlandish performance bonuses. As soon as both of those things were true, the ONLY pressures that existed on stocks were upward pressures (higher stock price means higher commissions for buying or selling, and more commissions means higher bonuses). The company fundamentals have to say "The End is seriously nigh" before people are going to sell a stock in any serious way.

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:12 AM (5DR1j)

94

I, for one, welcome the return of DOOM.

Missed you.

Posted by: Lily at January 14, 2013 09:13 AM (igSv+)

95
If you really, really want to cry, figure out
your actual tax rate (not just federal, but state, real estate, sales,
use, etc) and I promise you, you will soon realize that you work for the
government, not the other way around. Really, want to cry, add in all
the so-called "licenses" and "permits" (which are taxes with just a
different name to make you think you are not paying a tax) and you will
really get depressed.

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:05 AM (OWjjx)

The Democrats have always supported slavery. They just found a clever new means of implementing it on all of us.


Posted by: DiogenesLamp at January 14, 2013 09:13 AM (bb5+k)

96 Most riders say they are upset about the fact that the 30-day pass will increase from $86 to $100.

Fire up the world's smallest mp3 player for another round of "Hearts and Flowers."

Posted by: HeatherRadish™ is at work and hates everyone at January 14, 2013 09:13 AM (ZKzrr)

97 93 Allen G,

add in the fact that the political class has decided and the American people must be TOTALLY okay with "venture socialism" and "profits are mine but we all share the losses" style GM capitalism and well

DOOM!

Posted by: sven10077 at January 14, 2013 09:14 AM (LRFds)

98 Monty is the Doomiest Evah!

Yeeeeeeeeeah Monty!

Man I missed your Doom! Nothing is like the sweet smell of liberal imposed Doom!

It smells like blood sucking leftist vampire tears!

Getting another beer now!

Posted by: Judge_Roy_bean at January 14, 2013 09:14 AM (kLs5Y)

99 I did that back when I was still working. My actual tax rate was just over 50% and that was with the so-called Boooosh tax cuts. It would be even higher now. Besides we have had another sales tax increase here since then.

For fun one time, I subjected some low income "free shit" asshat to a similar experience. I was doing this clowns tax return and he was all excited he was in the lowest (10%) tax rate and complaining that people who thought taxes were too high were full of it.

So, out comes pen and paper. Yes, you pay 10% on your income, but you are also paying 6.5% for Social Security and Medicare. Add another 5% for the State of Illinois and now, fella, your over 21%. Since you do not save, almost all of your income is subject to the various sales taxes, which in Illinois is 5% and another 1.5% for the local municipality. Since about 20% of that money is spent on gas and or alcohol or other vices that have their own taxes, add another 5%. So, Mister Low Income Earner, you are at 32.5% and you know what, I have not even figured out what you are spending on renewing your car licenses, plates, the rental occupancy sticker and the taxes that are on all of your utilities.

Clown was looking at things a lot differently once we were done.

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:14 AM (OWjjx)

100
We will not thrive until we endure some harsh
lessons on free lunches, and November was nothing if not "I wanna fwee
lunch Mistah Barry!"

We deserve everything we're gonna get.


Posted by: sven10077 at January 14, 2013 09:06 AM (LRFds)

Someone taught me an important lesson years ago. Sometimes things have to get worse before people realize there is a problem.

At this point I think it is our duty to make them worse if we can. The burned hand teaches.



Posted by: DiogenesLamp at January 14, 2013 09:15 AM (bb5+k)

101
Posted by: TheQuietMan at January 14, 2013 09:11 AM (1Jaio)

Read "We have met the 1% and he is us" in the sidebar. I get in a pissing match often when stating that there is no poor in the US. This essay proves who will really bears the burden of higher energy (transportation) costs.

Posted by: Cicero Kid at January 14, 2013 09:15 AM (kWFP3)

102 Health insurance premiums going up dramatically this year due to the (HA HA HA HA) Affordable Care Act:

http://preview.tinyurl.com/ax6xbtr

The balls of these guys!

Posted by: Cricket at January 14, 2013 09:16 AM (DrC22)

103 Average Joe is way to busy trolling roadside bathrooms looking for cock to voluntarily suck.

FIFY

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:17 AM (OWjjx)

104 Doom kitteh!!!

Posted by: EC at January 14, 2013 09:17 AM (GQ8sn)

105 99 Mallamutt,

Brother I have found you!

When i was doing taxes if it was a slow day I was very careful to show real tax rate.

I also stressed the insanity of not using IRAs as a shunt and hedge.

Anyway stupidity is its own reward, and a lot of people are setting themselves up for the Ghost of Ed McMahon to knock on their door.

Posted by: sven10077 at January 14, 2013 09:17 AM (LRFds)

106 Getting another beer now!
Posted by: Judge_Roy_bean at January 14, 2013 09:14 AM (kLs5Y)

Dayum!


Oh right, China, different time zone and all that.

Posted by: RWC at January 14, 2013 09:17 AM (fWAjv)

107
Detroit could be a thriving city in five years if two changes were made:

First, lower property taxes to be on par with the surrounding communities.

Second, totally eliminate the public school system. Issue vouchers for the whole per pupil amount (approximately $22,000/yr.) to each child and have the DOE finance the shortfall while the city is being repopulated.

Posted by: jwest at January 14, 2013 09:18 AM (ZDsRL)

108 There are no poor people in the US compared to the world. Even the poorest kids in the stix have shoes, electricity , clean water and food for the most part.

They (we) are the 1%.



Posted by: Judge_Roy_bean at January 14, 2013 09:19 AM (kLs5Y)

109 Health insurance premiums going up dramatically this year due to the (HA HA HA HA) Affordable Care Act:


I wonder how many other people with intimate knowledge of the Health Care industry feel like Casandra. We were warning about this the moment "National Health Care" was uttered. Though, unlike Casandra, some smart people believed us. Unfortunately, the combined total of us and those who believed us seems to be about 47 - 49%

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:19 AM (5DR1j)

110 Yeah Monty's back!!! You've been missed. Now I have to go cry from reading the links.

Posted by: Ms Choksondik, doom masochist at January 14, 2013 09:19 AM (YOZSv)

111 Detroit could be a thriving city in five years if two changes were made:

First, lower property taxes to be on par with the surrounding communities.

Second, totally eliminate the public school system. Issue vouchers for the whole per pupil amount (approximately $22,000/yr.) to each child and have the DOE finance the shortfall while the city is being repopulated.


First, burn it completely to the ground

Second, build a big Wal-Mart for Canada.


FIFY

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:19 AM (OWjjx)

112 Clown was looking at things a lot differently once we were done.


I love hearing the FSA talking about "getting their refund check" from the govt as if it's a bonus. It's their own goddamn money that they loaned with 0% interest.

Some people are too stupid to live.

Posted by: EC at January 14, 2013 09:19 AM (GQ8sn)

113 teej,

I am doing fine. I just got inundated by work last year -- a good problem to have, but it didn't leave much time for extracurricular activities. And also, I just got burnt out a little bit. But now that the election is over and our destruction is assured, the pressure is off: I can ride the car over the cliff, waving merrily to observers as we sail into the void, mouthing the words, "Having a wonderful time! Wish you were here!"

Posted by: Monty at January 14, 2013 09:20 AM (4Pleu)

114 And about Lang's Metropolis. Can you believe we were both right.

I like it, Anna - I'm hardly ever right about anything these days :-)

Got to run, all - it's one of those days. bbl.

Posted by: Mary Poppins' Practically Perfect Piercing at January 14, 2013 09:20 AM (zF6Iw)

115 Well kids, can't chat. I have a list of stuff to do to get the house ready to sell (LOL like that's gonna happen). We are moving to Greenville SC this summer. Fortunatly Mrs. Sailor has a relo package that in the event of a no sale the company buys it.

Later gang.

Posted by: Oldsailors Poet, Author of Amy Lynn available on Amazon. http://tinyurl.com/ahc8poj at January 14, 2013 09:20 AM (l86i3)

116
87
Wake up call??? I posted a heads up as soon as I saw the thread.


Posted by: Vic at January 14, 2013 09:10 AM (53z96)


Well, I'm sitting here holding my cock and I don't have any socks on and let me tell you, the boss is NOT happy.

Posted by: BCochran1981 at January 14, 2013 09:20 AM (da5Wo)

117 The more I think about TFG claiming we don't have a spending problem, the more it reminds me of an addict saying they don't have a problem with their addiction. And it's the same thing, really.

We're being held hostage by addicts.

Hoo boy, we really are screwed, aren't we?

Posted by: Brother Cavil, High Priest of the Gods of the Copybook Headings at January 14, 2013 09:20 AM (GBXon)

118 Yeah the WUWT 1% story succinctly states things. One of the things that helped tip Egypt over was born here in the US. It was called subsidizing bio-fuels. So the global corn price went up because the subsidy for bio-fuel made it profitable to switch corn from being corn meal to becoming ethanol. That spike in food prices impacted harshly the poor of Egypt that Mubarak had been barely keeping a lid on.

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:21 AM (znavB)

119 108 Judge Roy bean,

Yessir back during the occutard puish by the media I pointed that out.

Hiawatha Warren is simply giving justification for the poor of the world to destroy us.

Posted by: sven10077 at January 14, 2013 09:21 AM (LRFds)

120
I am SO far from the ONT that I will have to ask any red letter to kick me back into my vertical position so I might sleep...

a favor?

Posted by: Richard at January 14, 2013 09:21 AM (Khl3H)

121 I also stressed the insanity of not using IRAs as a shunt and hedge.


Do you recommend Traditional or ROTH?

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:21 AM (5DR1j)

122 Welcome back to the fold, Monty!

Posted by: nraendowment at January 14, 2013 09:22 AM (1+CnU)

123 I love hearing the FSA talking about "getting their refund check" from the govt as if it's a bonus. It's their own goddamn money that they loaned with 0% interest.

Some people are too stupid to live.[/i}

Any more, with all the refundable credits (EITC, 40% of American Opportunity Credit, Additional Child Tax Credit).....its your money.

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:22 AM (OWjjx)

124 113 Monty,

Yup....enjoy the ride and let it burn.....

Barack "Thelma" Obama, and Harry "Looise" Reid are you pilot and co-pilot and it is a nice sunny day for a flight.....


Posted by: sven10077 at January 14, 2013 09:22 AM (LRFds)

125 I don't want to go in the barrell

did that keep me out?

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:23 AM (OWjjx)

126 Yay Monty!
Welcome back!
I feel all DOOM-y inside!

Posted by: Anonymous Coward at January 14, 2013 09:23 AM (Vtggp)

127 Read "We have met the 1% and he is us" in the
sidebar. I get in a pissing match often when stating that there is no
poor in the US. This essay proves who will really bears the burden of
higher energy (transportation) costs.

Posted by: Cicero Kid at January 14, 2013 09:15 AM (kWFP3)




Before the election, a few people I know, told me that I should understand that only the rich will pay more. Now I tell them, you're right only the rich are paying more and congratulations on being rich. I usually don't get a response.

Posted by: TheQuietMan at January 14, 2013 09:23 AM (1Jaio)

128 Close call.........I heard the barrel is getting kinda ripe.

Posted by: Mallamutt, RINO President for Life at January 14, 2013 09:23 AM (OWjjx)

129 Cya MPPP and OSP.

BCochran, go watch the Cherry 2000 trailer again. Or that banned commercial from last night.

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:23 AM (znavB)

130
Welcome back, Monty and Doom Kitty.

Now we're screwed, but with DOOM!

Posted by: BackwardsBoy, who did not vote for this shit. at January 14, 2013 09:24 AM (yiIja)

131 Sniff...we missed you man. Give me a second I got something in my eye.

Posted by: ALL_IS_LOST at January 14, 2013 09:24 AM (T/L2Z)

132 Question for those of you who understand economics (not me):

What happens when there is inflation and banks are locked into 3.8% mortgages?

Posted by: Cricket at January 14, 2013 09:24 AM (DrC22)

133 did that keep me out?

You didn't affect other posts, so no barrel. But you do still owe 2 internetz (inflation, you know).

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:24 AM (5DR1j)

134 Your daily dose of DOOOOM is missed. We will take what we can get though. Thrilled that you are back as a semi-feature Monty. Love your stuff.

Posted by: Truck Monkey at January 14, 2013 09:25 AM (jucos)

135 I wake up to this??? This deserves all caps:



WELCOME BACK MONTY!!!!

Posted by: Burn the Witch at January 14, 2013 09:25 AM (ROv35)

136 121 Allen G,

depends on the taxpayers' likely scenario. You use them depending on whether you feel you will be in a higher bracket now or later. A couple that shows they are serious and on their way to having a well planned retirement should likely go Roth, otherwise I tell folks Traditiobnal is probably the way to go.

Of course since Bawney Fwank and fwiends are talking about raiding 401ks openly I am pretty sure they will empty out my Roth's tax benefits as well.

Six of one a half dozen of the other....

DOOM!

Posted by: sven10077 at January 14, 2013 09:25 AM (LRFds)

137 Good to see you, Monty!

Posted by: Insomniac at January 14, 2013 09:26 AM (DrWcr)

138 Short version: "Dark vein of intolerance" "Code
words" "Calling a black man 'lazy' is racist" "GOP
endorses/allows/started Birther movement".
He also bitched about things Palin and Sununu said, but didn't have the stones to actually call them out by name.


Posted by: BCochran1981 at January 14, 2013 09:09 AM (da5Wo)


Fuck Powell with the barbed cock of Satan. He deserves a special place in the deepest circle of hell amongst all the other traitors of history.

Posted by: DiogenesLamp at January 14, 2013 09:27 AM (bb5+k)

139 Recovery Summer IV: Sudden Impact

Posted by: toby928© for TB at January 14, 2013 09:27 AM (evdj2)

140 I wonder how many other people with intimate knowledge of the Health Care industry feel like Casandra. We were warning about this the moment "National Health Care" was uttered. Though, unlike Casandra, some smart people believed us. Unfortunately, the combined total of us and those who believed us seems to be about 47 - 49%
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:19 AM (5DR1j)
Sometimes I even have the wierd "Tune out" moments before I announce my visions. And then people accuse me of being crazy anyway.FWIW, so far I noted the higher predictions along with everone else, the flawed studies trying to go backwards to justify the stupid rule on birth control (specifically that it's "all forms" not "generic/cheapest, even the liberals have a hard time justifying that so..."science!"). In fairness on that one I had some inside information.I also predicted an attempt to mandate abortion coverage through insurance (See: Washington State, dunn if it's got anywhere yet, it'll come back) and an attempt to classify "Gender Reassignmet" as "treatment" for a physical disorder (rather than a psychogical one) and push to have it covered by insurance (See: California, they're using a prisoner's case to push it, but that's more for legal precedent reasons than because they're concerned about prisoners.)I've also predicted soft euthansia (see Britian, but coming here!) and mild but stubtle form of Eugenics sort of a "neo-Sanger" (that one has yet to come to pass.)

Posted by: tsrblke at January 14, 2013 09:27 AM (GaqMa)

141 Six of one a half dozen of the other....

DOOM!


Posted by: sven10077 at January 14, 2013 09:25 AM

Spend it all now or they'll take it all later.

Posted by: Department of Accuracy at January 14, 2013 09:27 AM (+I8Mq)

142 Now for the funny.

This interview has everything.

Grenade launchers...check.

High action military with big clips..check (gonna have to check the next gun show for these)

Projection..check.

Host pissing himself when Morgan says that he is armed right now..check.

Nuclear bomb argument..check.

Supreme Court precedence versus "it says on the car door, 'Protect and Serve.'


Without further adieu...


WVCDL President brings the funny


http://www.youtube.com/watch?feature=player_embedded&v=ECxDvwObwZk


Posted by: RWC at January 14, 2013 09:28 AM (fWAjv)

143 Shit


http://tinyurl.com/chukfmv

Posted by: RWC at January 14, 2013 09:28 AM (fWAjv)

144 The perfect coin for Two-Face TFG
http://www.johncoxart.com/2013/01/look_what_obama_found_in_the_s.html

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:29 AM (znavB)

145 132 Cricket,

Stagnation, it'll be glorious.

Want to know why I am not bothered being 18,000 underwater on my house here in Indiana?

I can afford to eat the mortgage in a jam, and as an added bonus since I am fixed in at ~4.75% at some point I will be able to laugh at the bank.

Hyperinflation hits hard?

Well by golly Here you go I am killing the last 90,000.

During the Great Depression some smart real estate investors wound up paying people to occupy their houses to reduce upkeep costs.

All of this has happened before, all of this will happen again.

The rage I post in is based on the fact that we as a nation are further and further away from the values which make true recovery possible.

The left has created a defacto religion that precludes real recovery.

I am not sure we can count on today's youth to make the right call on what to do.

Posted by: sven10077 at January 14, 2013 09:29 AM (LRFds)

146 What happens when there is inflation and banks are locked into 3.8% mortgages?

You did read the title of the post, yes?

Honestly, though, the two are not necessarily directly related. If there is inflation but the interest rates don't change, it could conceivably mean a credit-crunch (less available purchasing power to lend, meaning banks can (and kind of have to) be more selective about to whom they lend). In reality, most credit is not set at a fixed rate. I'm not sure of the stat, but my understanding is that less than 50% of mortgages are fixed rate mortgages. Credit Cards, Lines of Credit, and other short-term loans are never fixed interest.

The problem isn't for the banks, it's for everyone else. That's the dreaded "stagflation" where everything is more expensive and saving ends up being actively bad (a functional, if not technical, negative ROI).

Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at January 14, 2013 09:30 AM (5DR1j)

147 In honor of the return of DOOM, here's Monty's sad kitteh:

http://tinyurl.com/bfje9hu

Posted by: Retread at January 14, 2013 09:30 AM (zxitI)

148 141 Dept of Accuracy,

You ain't kidding.

This year I am out of debt and have precisely 9865 dollars of apparent savings.


That is by design.

Posted by: sven10077 at January 14, 2013 09:30 AM (LRFds)

149 Morning all. What a freaken weekend. Worked harder and longer hours than ever before. Thank G-D it's Mond.....ah fuck that

Posted by: Nevergiveup at January 14, 2013 09:30 AM (9Bj8R)

150
If we could somehow take control of teh MFM and finally get the truth out, I'm willing to bet that maybe, just maybe, enough people would realize that it's the government in general and this clown show of an administration that is destroying the economy.

The CRA is directly responsible for the housing crash.

NAFTA and GATT are directly responsible for our no longer having a viable manufacturing sector.

Dodd/Fwank is why no one can get a loan anymore.

We have met the enemy, and he lives in Washington, passing laws to crush us.

Posted by: BackwardsBoy, who did not vote for this shit. at January 14, 2013 09:30 AM (yiIja)

151
@Mallamutt,

Dude I'd settle for working for the government at this point, but it's worse than that.
The Rams just announce they'd really like the Tax payers to bend over and pay for a brand new stadium again. So far the talk is just to do it with Ticket Taxes (Which I suppose at least makes a sort of sense.) But there's rumbling of increases sales taxes to fund it. (Fuck them.)
So not only do I work for the Government, I apparently work for a whiny ass lossing football team.

Posted by: tsrblke at January 14, 2013 09:32 AM (GaqMa)

152 soooooooooo fiat is going to build jeeps in china.....great....just saw the new jeep at the barret jackson auction....it was nice was even considering it as my next vehicle.....but alas it was not meant to be......

Posted by: phoenixgirl at January 14, 2013 09:33 AM (GVxQo)

153 I come in to the office late, fearing the usual Monday nonsense, only to see that DOOM has returned to us all!


I raise my coffee mug to you, sir. Welcome back, and I look forward to reports of bleak, inescapable DOOM all throughout the year!

Posted by: Kinley Ardal at January 14, 2013 09:33 AM (mrnos)

154 Question - does anyone have an accurate count on how many people in America are "not" on the dole, in some form or fashion? This would include federal, state, or local dole. How many people are truly independent of government largesse?

Posted by: tubal at January 14, 2013 09:34 AM (BoE3Z)

155 Well PG the Fiat Jeep in PRC is meant for the PRC market. Or was there something slipped in about building Jeeps for the US market in the PRC?

Then there is the great cock-up called the 2014 C7 Corvette.

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:34 AM (znavB)

156 DOOM means that Jodie Foster is a lesbian.

Posted by: Roy at January 14, 2013 09:34 AM (VndSC)

157 tubal

including or not including social security

Posted by: phoenixgirl at January 14, 2013 09:35 AM (GVxQo)

158 Monty, I take what's behind door number 3, no 1, no 3, wait, no 2... alright, 3. Fucking DOOM.

Posted by: Fritz at January 14, 2013 09:35 AM (w3+gB)

159 DOOM means that Jodie Foster is a lesbian.
Posted by: Roy at January 14, 2013 09:34 AM (VndSC)

It's the Ivy League education of her's that did her in

Posted by: Nevergiveup at January 14, 2013 09:35 AM (9Bj8R)

160 I'd laugh my ass off if some idiot thought he or she wanted to steal my identity.

Posted by: BackwardsBoy, who did not vote for this shit. at January 14, 2013 09:36 AM (yiIja)

161 157 PHXGrl,

I'd leave social security for retirement out of it like Vic intones.

Those people were conned not their fault.

Last time I started looking about 35% of the American people are on bennies.

That was BEFORE our glorious Obama economy.

DOOM!

Posted by: sven10077 at January 14, 2013 09:37 AM (LRFds)

162 157
tubal



including or not including social security

Posted by: phoenixgirl at January 14, 2013 09:35 AM (GVxQo)
Including, I guess. That issue of SocSec gets kicked around because of the "it's my money, after all", but I'm thinking about the "beholding to" angle.

Posted by: tubal at January 14, 2013 09:37 AM (BoE3Z)

163 Some black guy who speaks crappy english with marbles in his mouth is on FOX?

Posted by: Nevergiveup at January 14, 2013 09:38 AM (9Bj8R)

164 156 Roy,

Her enjoying my carnal companionship preference is not exactly "breaking news."

I did think she was rather polite in doing a hell of a job acting as John Travolta's beard if memory serves.


Posted by: sven10077 at January 14, 2013 09:39 AM (LRFds)

165 And the sad part? Stocks are still the smart play if you're an investor, because bonds are even worse.


Break out the mattress!!!

Posted by: cajun carrot at January 14, 2013 09:39 AM (UZQM8)

166 162 Tubal,

Then when I looked it was 42% or so....

hell one can make an argument my wife is "on the dole" as a soldier....and in 1950s America that argument WOULD have been made.....

we're fucked.

The bright side is I finally get to see what the glide ratio is on a buick.

Posted by: sven10077 at January 14, 2013 09:40 AM (LRFds)

167 Got to go into town folks. bbl

Posted by: Vic at January 14, 2013 09:40 AM (53z96)

168 I'm not sure that my reaction of yaaay Doom! *clappyhands* is entirely appropriate.


I read that yeah so you're all fucked sorry about that kids article over the weekend and I really like the checklist graphic.

Posted by: alexthechick - SMOD. Seriously, Sheldon/Penny to the end. at January 14, 2013 09:41 AM (VtjlW)

169 165 cajun carrot,

CC you are correct, unless of course you are willing to invest in a start up as "banker" yourself.

I will probably be giving seed money to my brother for a pizza jointy if he'll follow the roughnecks.

One day in the not so distant future you're going to see people who once would have been brokers start investing in arms deals and drug buys.

That is when you know the die is cast and we're all Central Americans below canada now.

Posted by: sven10077 at January 14, 2013 09:43 AM (LRFds)

170 Beware the Four Raptors of the Economic Collapse. In particular Polly the Debt Collector.

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:43 AM (znavB)

171 anna

http://tinyurl.com/d22jnxo

the biggest lie of the year was actually true....i don't see any change in them being in us markets but i'm steering clear anyway...my friend is on a list for the corvette....while i'm almost out of the need for an suv i still need to carry more than one other person so the vette is still not an option....

Posted by: phoenixgirl at January 14, 2013 09:43 AM (GVxQo)

172 Sure just move to another thread before I can type in the fart joke.

but the danger of earthquakes due to CCS is way higher

This CCS sounds an awful lot like blowing smoke and taxpayer monies up the planets ass.

Posted by: DaveA at January 14, 2013 09:43 AM (I3vTd)

173 Interesting op-ed in thr LAs Vegas review concerning Blue States and their doomed debt and Red states their lack of debt per person..

Posted by: Clemenza at January 14, 2013 09:44 AM (x59Gv)

174 Can somebody give me something for my Rotwang?
It's a particularly nasty shade of brown.

Posted by: Bawney Fwank at January 14, 2013 09:44 AM (+8t8s)

175 Oh and on Social Security....that 7% slack was BEFORE the boomer wave...hell we may be above 50% now!

YAY I may not be a slave, but I am sure as shit an indentured servant!

Yeehaw faster Monty faster!

Posted by: sven10077 at January 14, 2013 09:44 AM (LRFds)

176
we're fucked.

The bright side is I finally get to see what the glide ratio is on a buick.

Posted by: sven10077 at January 14, 2013 09:40 AM (LRFds) My house is worth about 500K - 600K less than what it cost me to build in 1992. Some of us are more fucked than others.

Posted by: jwest at January 14, 2013 09:44 AM (ZDsRL)

177 Student debt is now the single largest contributor to the nation’s credit delinquencies.


Let's remember this whenever all the kids want to blame mom and dad for the debt. Everyone has played their part in this fiasco. Except for me, cause I"m perfect, and I paid out of pocket for college. So bite me.

Posted by: cajun carrot at January 14, 2013 09:45 AM (UZQM8)

178 I'm not sure that my reaction of yaaay Doom! *clappyhands* is entirely appropriate.

Why not?

We know what's coming. "They" don't.

Doesn't the vision of armies of unprepared, and clueless hipster douchebags huddling over steam grates warm the cockles of your heart?

Works for me.

Posted by: Sean Bannion at January 14, 2013 09:45 AM (sbV1u)

179 jwest

oh yeah....

Posted by: phoenixgirl at January 14, 2013 09:45 AM (GVxQo)

180 THIS is almost thread worthy on it's own:

A Us judge has ruled that the Palestinian Authority has the right to cover up a memo linking it to a suicide bombing that killed two teen American citizens in Israel, The Post has learned.

The document — accidentally handed over to lawyers suing the authority for $300 million on behalf of the teens’ parents — reveals a “close relationship” between the bomber and a captain in the Palestinian Authority security forces who planned the terror attack, court papers say.

The two-page memo, written in April 2012 by Maj. Ziad Abu Hamid of the authority’s General Intelligence Service, also details “at least six other critical facts” about the 2002 bombing and “clearly establishes the defendants’ material support and liability,” the federal court filing says.

DC, federal Judge Richard Leon ordered the memo returned or destroyed after the authority’s lawyers claimed it was “privileged and protected” information.

A G.W. Bush appointment! Thanks George.


Leon was nominated to the United States District Court for the District of Columbia by George W. Bush on September 10, 2001, to the seat vacated by Norma Holloway Johnson. Confirmed by the Senate on February 14, 2002, he received commission five days later.
Leon was responsible for adjudicating the habeas corpus petitions of several dozen captives held at the Guantanamo Bay detention camp.[1][2][3] Boumediene v. Bush, which was eventually considered by the Supreme Court, was first heard by Leon.
By August 28, 2008, Leon had 24 cases assigned to him. [1]
The Associated Press reported Leon hoped to resolve those cases before the presidential inauguration in 2009 and was concerned that the public and the detainees will be barred from observing the hearings: "If it can't be done, I have great concern that these hearings will be virtually or exclusively classified, closed to the public and, I might add, to the detainees."
During a hearing on October 23, 2008 Leon commented on the ambiguity of the term "enemy combatant" and criticized Congress and the Supreme Court for "We are here today, much to my dismay, I might add, to deal with a legal question that in my judgment should have been resolved a long time ago. I don't understand, I really don't, how the Supreme Court made the decision it made and left that question open... I don't understand how the Congress could let it go this long without resolving." [2]
On November 20, Judge Leon ordered five detainees released from Guantanamo Bay Naval Base due to insufficient evidence.[4][5]

Posted by: Nevergiveup at January 14, 2013 09:46 AM (9Bj8R)

181 166
162 Tubal,

Then when I looked it was 42% or so....

hell
one can make an argument my wife is "on the dole" as a soldier....and in
1950s America that argument WOULD have been made.....

we're fucked.

The bright side is I finally get to see what the glide ratio is on a buick.


Posted by: sven10077 at January 14, 2013 09:40 AM (LRFds)
"Glide ratio......." Heh. It's pretty hard to see how things can be turned around when half the people have government hooks in them. I know, I know, tubal's a dim bulb, that is just now really grasping what other moron compadres have understood long before. I just woke up a little while ago this morning, though, with "silver" on my mind. Go figure.

Posted by: tubal at January 14, 2013 09:46 AM (BoE3Z)

182 PG, yeah funny how Romney was right on that.

Might as well buy an Altima or a Camry. Unless you need to haul some really large items also.

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:46 AM (znavB)

183 176 JWest,

Yeah I mean of course the cold answer and one I console myself with about being slightly underwater is "did you get use from the loss of capital in some way?'

I'm sorry it nailed you bad, on the bright side I have a house.

Your average 20 something probably never will.

Posted by: sven10077 at January 14, 2013 09:46 AM (LRFds)

184 Riots in Taylor Meechigan over housing vouchers...the humanity of it all....I had to look up housing voucher.

Posted by: Clemenza at January 14, 2013 09:46 AM (x59Gv)

185 I've got a presser this morning, and Imma totally throw words out there to refute everything Monty has said. Word.

Posted by: #OccupyResoluteDesk at January 14, 2013 09:47 AM (BP3TZ)

186 to Jwest, look into a housing voucher, US Gov supplied and free...

Posted by: Clemenza at January 14, 2013 09:48 AM (x59Gv)

187 anna

i'll probably just stick with my benz

Posted by: phoenixgirl at January 14, 2013 09:48 AM (GVxQo)

188 181 Tubal,

Don't worry and don't begrudge yourself the apathy you once had b/c you hadn't grasped it.

Hell I am happily apathetic now and i've known this was coming for 28 years.

The key is learn to live lean, help people who will help you in a jam down the pike and understand that the "America" we were born in was killed by us by choice and ain't coming back.

It sucks, but I will probably never know the security and potential of the ww2 gen on healthcare, retirement, or national security.

Of course Gram and Gramps never got to see what semen looked like on paris Hilton's face so....



yeah not a good trade off.

Fuck you Free Shit Army.

Posted by: sven10077 at January 14, 2013 09:49 AM (LRFds)

189 186to Jwest, look into a housing voucher, US Gov supplied and free...Posted by: Clemenza at January 14, 2013 09:48 AM (x59Gv) A voucher sounds pretty good right now.

Posted by: jwest at January 14, 2013 09:49 AM (ZDsRL)

190 Sven, Allen...thanks.

Posted by: Cricket at January 14, 2013 09:50 AM (DrC22)

191 I just threw up in my mouth. This is vile and evil
http://tinyurl.com/cdhh23j

Hey Leni Riefenstahl something new for you to film.

Posted by: Anna Puma (+SmuD) at January 14, 2013 09:51 AM (znavB)

192 Question on the mortgage to all of you brainiacs out there. I'm retired and we had about 20 years left on the house. Refinanced to a fixed rate 2.9 mortgage for 30 1 year ago, and my plan was to pay it down quickly by making additional monthly payments from some money that showed up in my pocket one day that was not, according tom my CPA, taxable by the gov. (long story on that) My plan was to have the mortgage paid in about 6 to 7 years and we would have the house as free and clear as far as mortgage was concerned. Question, should I continue to do that, or, hang onto the other money and pay this back in the inflated dollars that are coming our way?

Posted by: Bruce at January 14, 2013 09:51 AM (D/OWC)

193 I've got a presser this morning, and Imma totally throw words out there to refute everything Monty has said. Word.

Great. SCOAMF on our TVs. Again. That's the real DOOM of the day.

Posted by: Retread at January 14, 2013 09:52 AM (zxitI)

194 178 Sean Bannion,

Yup.

No seriously no matter the moron here and their like/dislike of me I know that the majority here get it to some degree and are my spiritual ally in this coming fight.

You go to a Starbucks and look at the number of people who think they can vote themselves prosperity or gain....

it is the warm fuel of hatred that keeps me going.

Posted by: sven10077 at January 14, 2013 09:52 AM (LRFds)

195 There are millions of unfilled jobs in America, and most of them are careers where you actually have to make and build stuff.

I've said this before to myself and I'm going to keep saying it to my wife:

I'll pay for my kid to go to trade school, but I'll be damned if I'm pumping 50-100k on a "Kollege EjuKashun."

Posted by: cajun carrot at January 14, 2013 09:53 AM (UZQM8)

196 195
There are millions of unfilled jobs in America, and most of them are careers where you actually have to make and build stuff.



I've said this before to myself and I'm going to keep saying it to my wife:



I'll pay for my kid to go to trade school, but I'll be damned if I'm pumping 50-100k on a "Kollege EjuKashun."



Posted by: cajun carrot at January 14, 2013 09:53 AM (UZQM
Yeah, that kind of education will qualify you to be cleanup man at the local adult bookstore.

Posted by: tubal at January 14, 2013 09:55 AM (BoE3Z)

197 @106, yeah its night here in CHina..Im drinking lots of beer..the Germans taught the Chinese how to brew beer before they killed them all and kicked them out. I'm coming back ti the good ole USA soon 0t adjust to the commercial beer swill they feed the sheeple and inspect my arsenal.

@ Sven, most people never seen poverty. I've seen shanty towns constructed from everything you can imagine. Plastic off cow stalls in planes all pissed on, rocks, discarded corrugated roofing, cadrboard,, sheet rock random bricks and stones.

Those people in those shanties work hard to scrape by, walk miles for clean water etc.

And I look at those fat spoiled welfare fucks, sitting on the couch in front of the big screen saying give me more..its my right!

It makes my frickin blood boil!

Posted by: Judge_Roy_bean at January 14, 2013 09:57 AM (kLs5Y)

198 192 Bruce,

Bruce I am not a banker or an investment consulktant though I play a reasonable voice on the web.

You have to look at your situation.

How prepared are you if the bottom falls out?

Is your revenue stream in something that will survive the great gear grind?

If you can get more utility out of the liquid dollars now and put it into non-perishable quality of life like food, and water purification potential it would be silly not to go after security investment now before panic buying forces up prices past inflationary dollars.

I was hot to trot to put about 20 grand into a lump dump in the house last year but waited, and decided to use about 6500 of it on trying to drag Romney's ass across the finish line.

I do not feel I made an economic error if that helps?

Posted by: sven10077 at January 14, 2013 09:58 AM (LRFds)

199 Let's remember this whenever all the kids want to blame mom and dad for the debt.

--------------

That worm has already turned, I think (or is in the process of turning). A college education is going to look a hell of a lot different in ten years than it does now. For one thing, except in a few cases there's going to be a hell of a lot fewer colleges (and professors). A lot of it is going to move online. You're going to see a lot more focus on STEM and the trades, because that's where the jobs are going forward. The era of "Aleut Gender Studies" is just about over, and thank God for that.

Colleges have basically turned into four-year resort hotels for twenty-somethings. For women (now the bulk of enrolled students), it's also a combination of finishing school and feminist propaganda mill. The problem is, this educational model does almost nothing to prepare young people for the highly-technical and competitve marketplace they're about to enter, and so it will die out.

And good riddance to it. American universities still do world-class work in the hard sciences, mathematics, and engineering, but the arts and humanities departments have long since turned into sick jokes.

Posted by: Monty at January 14, 2013 09:58 AM (4Pleu)

200 >>> A voucher sounds pretty good right now.

Oh, well, as long as you have a voucher.

Posted by: Navin R Johnson at January 14, 2013 09:59 AM (O7Q1u)

201 197 Judge Roy Bean,

You are absolutely correct most Americans do not understand what poverty is at all.

I grew up less affluent than a lot of folks, but i remember visiting some cousins in TN that did not have running water or indoor plumbing.

That stuck with me forever.

Not enough "poor" have similar experience.

We're about to find out.

Posted by: sven10077 at January 14, 2013 10:00 AM (LRFds)

202 Dump

Posted by: BCochran1981 at January 14, 2013 10:00 AM (da5Wo)

203 199 monty,

I've worked hard to make sure my son lance understands what education is and is not.

I am thrilled he;d rather have a trade than a bunch of liberal arts shit in his head like I wasted my life on.

Obama has rendered my years of Schlarship on economics, US History, World History, and Civics historical fiction in a half decade.

I wish I'd perfected my hammer swinging instead.

Posted by: sven10077 at January 14, 2013 10:01 AM (LRFds)

204
I've said this before to myself and I'm going to keep saying it to my wife:

I'll pay for my kid to go to trade school, but I'll be damned if I'm pumping 50-100k on a "Kollege EjuKashun."


I last ran a machine shop back in '08. We wanted to expand to a second shift to meet demand. I thought, "Hey, you know, this would be the perfect opportunity for some young machinists straight out of tech school." I started looking for one in the area, since this is how I got started in the field back in the '70's.

There wasn't one to be found.

The idea that everyone can or should have a kollidge degree is a fallacy. Manufacturing once provided a place for those who are smart enough for a degree but prefer to work with their hands. But thanks to our illustrious "betters" who are oh-so-much-wiser than us proles, we no long have that option. Of course, the Watermelon Revolution had a lot to do with that, since jobs where one might run the chance of acutally getting a speck of dirt one is all icky and stuff, and we were raping Gaia anyway.

We are so terribly screwed... .

Posted by: BackwardsBoy, who did not vote for this shit. at January 14, 2013 10:02 AM (yiIja)

205 Question, should I continue to do that, or, hang onto the other money and pay this back in the inflated dollars that are coming our way?

---

Talk to a good financial adviser. Don't ask the internets on stuff like this. If you don't know of any good folks, check out Dave Ramsey's site for some suggestions.

Everybody's financial situation is different, and how you plan for your retirement has to be tailored very specifically to your situation: your savings, your assets, your income, etc. It's well worth the money to sit down with a good finance guy and figure out not just where you are, but where you want to be five, ten, or fifteen years down the road.

Posted by: Monty at January 14, 2013 10:02 AM (4Pleu)

206 Ah, DOOM! The perfect way to start a new week.

Welcome back, Monty!!

Posted by: rickl at January 14, 2013 10:03 AM (zoehZ)

207 205 Monty,

Amen.

You get what you pay for and free advice is well free.

I remind myself constantly not to ever pretend I can outsmart 300,000,000 people on economics.

Wish Paul Krugman would do the same.

Posted by: sven10077 at January 14, 2013 10:05 AM (LRFds)

208 Is your revenue stream in something that will survive the great gear grind?

If
you can get more utility out of the liquid dollars now and put it into
non-perishable quality of life like food, and water purification
potential it would be silly not to go after security investment now
before panic buying forces up prices past inflationary dollars.

Thanks for the reply.

Between pensions and 401s and 403s and IRAs, we have a good income. Trying to convince the wife we need to prepare for rough times would be difficult. I guess I would rather have the money that we are prepaying the principle at our disposal instead of wrapped up in a house. It was my idea to prepay, now I get to try and tell the wife it may not have been a great idea. I will probably back off for a year and see which way the crap storm flows.

Posted by: Bruce at January 14, 2013 10:06 AM (D/OWC)

209 204 backwards Boy,

Hey BB if wife loses her career I may need YOU to teach me machining.

You should really consider perhaps engaging in unpaid make work to teach craft skill for baseline work or charge people to get "help' and make it peanuts.

Brother there is an underground machining market dying to be ran off the books out there.

My boss made mad coin in Louisiana after he took up radiator repair and rebrazing from old farmers who wanted their stuff saved off the books.

Posted by: sven10077 at January 14, 2013 10:07 AM (LRFds)

210 gloom AND Doom on a Monday... my week is complete and it hasn't even started.

of course, it's not like i have aj*b or anything to go to... %-)

Posted by: redc1c4 at January 14, 2013 10:08 AM (8MasJ)

211 27
As for people fleeing high taxes, I wonder when a 'exit tax' will first
be floated, made high of course to discourage people leaving.


-----------

If by "floated" you mean mentioned as an idea, Schwartzenegger did it a few years ago. Pulled back a bloody stump, he did.

Posted by: Citizen Anachronda at January 14, 2013 10:08 AM (1c58W)

212 I missed you Doom.

Posted by: Hand Solo at January 14, 2013 10:10 AM (5e7Tb)

213 208 bruce,

It sounds like you are ants not grasshoppers.

Have you considered depending on how much land you have trying to sell her on the notion of "hobbies?"

I know that my mother in law would have been far better served having a nice garden than a beach condo at a beach they hardly used.

The thing is you can disguise a lot of prep as "saving for a rainy day" if you try, and if you have a basement say "buying in bulk saves."

Anyway if you are on solid footing and your CPA gives you the impact of the ups and downs of DOOM! and strategy you'll probably be fine.

Posted by: sven10077 at January 14, 2013 10:10 AM (LRFds)

214 sven10077,

I make my living by writing computer software, but I took my degree in English Lit way back in Ye Olden Tyme. It was very valuable, but mostly because I forced a rigor into it that the program itself did not have: I learned to read and write critically, and I double-majored in Comp-Sci (though I only graduated with a B.A. and not a B.S.). I wanted to feed both sides of my brain.

The real tragedy of the American University is that the arts are a necessary and vital part of a person's life. Literature, music, art, and philosophy *ought* to be part of a person's preparation for an adult life -- it's just that over the years, the academy has turned these fields into Marxist, modernist, relativist nonsense. They have lost all sense and meaning.

It's now possible to get through four years of college without ever having read foundational works like Homer's "The Iliad" and "They Odyssey", or Virgil's "Aeneid"; or Plato's "Republic"; or Augustine's "City of God"; or even more modern stuff like Melville or Faulkner. (I had to read "Moby Dick" when I was a junior in high school, but I don't think they even assign that book any more.) I've met B.A. graduates who still can't write or even spell well.

Posted by: Monty at January 14, 2013 10:10 AM (4Pleu)

215 And good riddance to it. American universities still do world-class work in the hard sciences, mathematics, and engineering, but the arts and humanities departments have long since turned into sick jokes.
Posted by: Monty at January 14, 2013 09:58 AM (4Pleu) Last week, my son (who refused to go to college) hired my daughter who spent 6 years - and a ton of my money - getting a worthless degree.When he was 16, the boy went to Cisco for training on their routers, obtained a number Microsoft certifications and started servicing small businesses. A few years ago, an office systems company absorbed his business and now he runs the computer integration division with a six figure salary and percent of the profits.A friend who runs an executive search company had his son apprentice with a plumber for 3 years. He bought him a truck, all the tools and gave him some cash for expenses. Now, the son is hiring other plumbers to handle the volume of customers.College for the average kid is a waste of money.

Posted by: jwest at January 14, 2013 10:11 AM (ZDsRL)

216 Monty,

Thanks for the tips and will investigate a financial planner. My knowledge is lacking on this type of stuff. I don't want to be rich enough to be taxed for having to much (snort), I just don't want to live in a box under the bridge.

Posted by: Bruce at January 14, 2013 10:12 AM (D/OWC)

217 @79 Cicero Kid
Ahhhhhhhh. Those are the first pods. Do not permit them to reproduce and if you can't do that tell them election day is the 2nd Wed in Dec. in Indiana. Otherwise, you'll be voting on a bond issue for environmentally friendly, high speed trans fat free light rail Lionel trains (i.e. payoff to contractors and unions) in a year.

I love that bit of sophistry, "We owe it to ourselves" line sold to the drooling idiots.. So when it is time to pay ourselves back for, you know, our retirements and endowments, and the money isn't there all will be well. Here, here are some magic beans instead.

Another bit of nonsense they push is that the Blue States are well fiscally. They are in the black and their budgets balanced etc. etc.. Yeah, right. I'd like to see that accounting. I understand CA recently based revenues expected from the Facebook IPO. Oooops. They are financing the state with speculation! When interest rates increase dramatically, Wall St crashes. When WS crashes, NYC crashes, when NYC crashes, then NYS (no problems so far) but then the whole country crashes.

The entire world is using the same economic reasoning (debt creates wealth) and political shenanigans that led NYC to ruin in the 60s and 70s.

Another: some liberal in the WSJ smugly explained CA was doing it right. They just voted for the necessary taxes. Well, maybe. Or more likely those who voted for the taxes know they won't be paying them. Nor did they figure those who will pay them won't up and leave. That, or lose their businesses. Nor did they figure the legislature will spend the revenues even before they have them.

My elderly father is a typical Obama voter. He thinks he just voted to force Warren Buffet to take all that money gave Reagan gave him from his safe and start writing my father regular checks. In fact, my whole family believes that. I told him there is no safe. Buffet's money is not in a safe. It is in the factory 10 miles away that employs the people who rent your spare apartment.

We are boned because we are a nation of children.

Thank you Monty for your efforts. They help the (really non-moron) morons. But can you post them later in the day? I can't start drinking this early.

Posted by: Sefton (not J.J.) at January 14, 2013 10:14 AM (f9oS6)

218 @ Sven,

My grandma didn't have running water. Granddaddy was a coal miner. They had a well. You had to pump that thing forever to get some water to flow.

I wasrthe 2nd person in the entire family to go to college.

bathroom..it was an outhouse. They were more affluent poor..they had a 2 holer! They used to joke that the governor of W VA had a 6 holer! Hah!

But they were happy. I used to spend every summer when them and the cousins when I was young.

I miss those times and good times they were. Swimming in the creek, hunting deer, chopping wood for the woodstove, telling ghost stories at night!

I wish I waS BACK THERE!

In present day, I got off TV, cancelled cable. Only BS and gummit propaganda on there anyway.

We grow our food and have chickens. I say we, but it is my wife, I am always outside working for the family. I put alot of money away for the dark times, but with the wat it is going it will worthless soon.

I did invest in metals (tremendous amounts of lead and lots of Guns). I think that will get us by.

Posted by: Judge_Roy_bean at January 14, 2013 10:14 AM (kLs5Y)

219 I just don't want to live in a box under the bridge.

How about a van down by the river?

Posted by: Matt Foley, Motivational Speaker at January 14, 2013 10:15 AM (sbV1u)

220
Doesn't the vision of armies of unprepared, and
clueless hipster douchebags huddling over steam grates warm the cockles
of your heart?

Works for me.

Posted by: Sean Bannion at January 14, 2013 09:45 AM (sbV1u)

There won't be any steam.



Posted by: DiogenesLamp at January 14, 2013 10:16 AM (bb5+k)

221 214 Monty,

You are a mensch, never forget they are working to destroy the foundation bud.

I was a Socials Sciences guy who understood the proper role of the classics and history in a young mind and soul's rearing. This avalanche about to roll over us is not an accident and it is not unexpected. The western civ model grabbed the human race up out of quagmire and rendered the world we see.

Pity even an attempted defense of it at all, let alone a vigorous defense of its merits will earn you a blackball in many academic circles.

I know in the end mankind has the potential to have freedom, prosperity, and sense the only question is how much pain and time must be endured to get from here to there.

Posted by: sven10077 at January 14, 2013 10:16 AM (LRFds)

222 There won't be any steam. Posted by: DiogenesLamp at January 14, 2013 10:16 AM (bb5+k)

Even better.

Posted by: Sean Bannion at January 14, 2013 10:17 AM (sbV1u)

223 220 Diogenes Lamp,

Thanks to your friends at EPA and the Sierra Club.

Far too many people refuse to grasp that the nation is being led by a malthusian death cult who wants to undo about 125 years of human progress.....

and it ain't the "anti-science" party.

Posted by: sven10077 at January 14, 2013 10:17 AM (LRFds)

224 sven,

Yes, we are definitely ants. The grasshoppers of the world drive me nuts. That being said I had to spend about 700 dollars on a suit, shirt and such over the weekend so I look "nice" for a wedding of a friends son that is coming up. I'm still shaking a little bit.

Thanks for your ideas and help.

Posted by: Bruce at January 14, 2013 10:18 AM (D/OWC)

225 YAY DOOM! So glad it's back!! This just made my day... by which I mean, made my day horrible. But I loved every second of it. Thanks, Monty!

Posted by: alliedee at January 14, 2013 10:18 AM (9fSAa)

226 Bruce,

If you're hanging out at Ace's place, chances are that you're already well ahead of your peers in terms of financial preparation. I do a lot of preaching to the choir because most Morons are already well-stocked with common sense.

If you're already retired, a financial adviser or CPA can help you in lots of ways: not just protect what you have, but also grow your pile so you can be comfortable and even leave a legacy to your heirs. (Thinking about a legacy. How quaint and old fashioned!) The biggest mistake that many retirees make is to adhere to the same spending habits they had when they had an active income -- if you're drawing down your savings (even by a little) or if your income is fixed rather than growing, then you need to change your spending habits and lifestyle accordingly. This is hard for many people to do because it involves changing lifelong habits and patterns.

Posted by: Monty at January 14, 2013 10:19 AM (4Pleu)

227 How about a van down by the river?
Posted by: Matt Foley, Motivational Speaker at January 14, 2013 10:15 AM (sbV1u) We've already got an option on the hobo waterfront.

Posted by: jwest at January 14, 2013 10:20 AM (ZDsRL)

Posted by: Parker at January 14, 2013 10:21 AM (YkW3i)

229 Now we will teach them why they fear the DOOM.

Posted by: Parker at January 14, 2013 10:22 AM (YkW3i)

230 218 Judge Roy bean,

I did not look down on my kin, they were happy enough and not fueled by envy. Spent their time farming and hunting, and making moonshine.

Happiness ain't a bank statement, and worth is not in your 1040.

I'll put it this way, I can be happy with 5 bucks to my name and miserable with six figures in the bank.

I've done both, too many people are addicted to commerce for its own sake and price structure is horribly out of wack.

Now the difference between me and lez Warren and Obama and OW$ and Fee$hit Army is I have faith in people eventually reestablishing equilibrium and history has proven me right more often than not.

They want to have a national pie cutter divvy up the spoils....

the only problem I have seen with that model from a purely economic sense is that when that is the game being played efforts better spent for mankind at large engaging in productive activity starts being used to watch the "pie cutter" like a hawk by the moral and lobbying for a few more crumbs by the immoral.

Even my son grasped at 7 years old the answer is 'make more pie.'

Posted by: sven10077 at January 14, 2013 10:22 AM (LRFds)

231 not just protect what you have, but also grow your pile so you can be comfortable and even leave a legacy to your heirs.

Monty,
I have talked to the CPA a number of times, and he has helped us. We would like to have more, it's the nature of the beast, but we are comfortable and able to do some of the traveling we want. As for heirs, we have none, notta, zip.

And we tell our nieces and nephews that the will in under constant revisions!!!

Posted by: Bruce at January 14, 2013 10:25 AM (D/OWC)

232 The western civ model grabbed the human race up out of quagmire and rendered the world we see.


Posted by: sven10077 at January 14, 2013 10:16 AM (LRFds)



And Judeo-Christian ethics are the foundation of it. People don't seem to realize it is the society thus created that made Western Civilization possible.

Posted by: DiogenesLamp at January 14, 2013 10:27 AM (bb5+k)

233 Crickets, short bank stocks. Their earnings growth will stagnate or deteriorate, and their stocks shoud fall*. Look for more transaction fees, etc.

* Assuming the HFT AIs are feeling rational

Posted by: Jean at January 14, 2013 10:27 AM (2x+V2)

234 YAY! Sweet, comforting doom!

Posted by: Shoot Me at January 14, 2013 10:28 AM (qiXMt)

235 217 Sefton(not JJ),

You get it.

The nation is sick because of envy. The envy is there at all times in the human soul thanks to our "inner monkey" but in a healthy culture is held in check by faith that work and frugality can give you growth potential. How much money Buffet has bothers me not a whit so long as Buffet did not steal it and is not actively preventing me from gain.

Of course Buffet cannot resist those efforts so I hate him, not because of jealousy of his worth but because of his actions in trying to control the system that allowed him the fucking gain in the first place.

I am slowly getting to the point I am leaving my family who are envy based behind and forcing myself to develop a system of people I know are based on growth, freedom, and interlocking prosperity through free commerce.

I suspect if the AGW death cult was correct, and Antarctica really was thawing out we'd be seeing a potential land rush by similarly minded people.

In a perfect world the failure of the American model would be seen as a system that had strayed too far from economic liberty and into too much control and the rebuttal would be more liberty.

Instead I suspect we are going to see an attempt to reinstall divine right of kings with marx as god.

Posted by: sven10077 at January 14, 2013 10:29 AM (LRFds)

236
I can tolerate the DOOM, even though I played no part in it, IF those who did will be hurt much worse than me.

Assholes to a person, they are.

Posted by: irongrampa at January 14, 2013 10:30 AM (SAMxH)

237 Far too many people refuse to grasp that the nation
is being led by a malthusian death cult who wants to undo about 125
years of human progress.....

and it ain't the "anti-science" party.


Posted by: sven10077 at January 14, 2013 10:17 AM (LRFds)

I have long thought that the Socialists are actually worshipers of death. Everything they advocate leads to it. Abortion, Homosexuality, Promiscuity, Euthanasia, Economic Collapse. Even their "green policies" result in death. Rachel Carson's propaganda has killed millions of people around the world since the 1960s.

Death is the common denominator of the left. The Latin word for left is "sinestra" meaning "sinister."


Posted by: DiogenesLamp at January 14, 2013 10:30 AM (bb5+k)

238 232 Diogenes Lamp,

DL we're about to become the "new jews" assuming the collectivists do not murder us all.

I sincerely want as many of us as we can to make it, but caution we have to accept we are about to be persecuted.

Posted by: sven10077 at January 14, 2013 10:30 AM (LRFds)

239 Nothing puts me in the mood to be productive like good ol' fashioned Monty doom.

Posted by: rockhead at January 14, 2013 10:31 AM (jtTKf)

240 If you don't have free cash, you should be invests in skills right now. Like how to grow tubers and beans, some thing intrinsically valuable. A cheap piece of land, way the hell out with water would be nice, esp. if you can do it debt free.

Consider it a hedge.

Posted by: Jean at January 14, 2013 10:35 AM (Hw3Gh)

241 232 Diogenes Lamp,

DL we're about to become the "new jews" assuming the collectivists do not murder us all.

I sincerely want as many of us as we can to make it, but caution we have to accept we are about to be persecuted.


Posted by: sven10077 at January 14, 2013 10:30 AM (LRFds)

This is what I see coming as well. When there are enough grasshoppers, they will see if they can take what the ants have accumulated.

Posted by: DiogenesLamp at January 14, 2013 10:36 AM (bb5+k)

242 DOOM: I just can't quit you, baby
So, just call me maybe.

Posted by: captainfish at January 14, 2013 10:37 AM (HgkYj)

243 Anyway Monty I am glad you came home, I am happy you're well and I am angry that I wound up staying a spare hour baby.

"Shut up and work."

Sometimes the simple brutal truth might be the best.


Posted by: sven10077 at January 14, 2013 10:44 AM (LRFds)

244 Sven, you're on. Get a Bridegport mill and a 12"-swing lathe and accessories. Oh, and a 220-v line into wherever you're going to put them.

Posted by: BackwardsBoy, who did not vote for this shit. at January 14, 2013 10:45 AM (yiIja)

245 MONTY!!!! MONTY!!! MONTY!!!....

Posted by: Tex Lovera at January 14, 2013 10:46 AM (wtvvX)

246 "They're not saying 'BOO', they're saying "DOOM'!!"

Posted by: Tex Lovera at January 14, 2013 10:47 AM (wtvvX)

247 >> Wisconsin lowering state taxes...yeah! However, I am sure the Illinois DOOM will creep north.. <<

We're already setting up toll booths for the fleeing FIBs.

Posted by: steveegg at January 14, 2013 10:51 AM (o44nj)

248 Late to thread but if anyone's still around, what do you think of having the kids get a business degree along with they're vo-tech training (as in be a beautician/plumber etc. *with* a degree in business)? Twins here (one a business owner and one an employee) are having their kids do that but the kids are just starting the training so results won't be in before my own kids need to decide.

Posted by: Polliwog the 'Ette, still a Hobbit at January 14, 2013 11:19 AM (wbeNt)

249 248 Polli,

It cannot hurt, except that a lot of what they are learning on business may be in krugmanese.

Hindsight being 20/20 I wish I had hedged my future prospects with something other than "play in chemical soup."

If you kids are already of the mind to have a real skill on top of an education then they are probably going to be able to avoid most of the pap colleges will try to feed them on the ethics of money and business.

I have three goals with the rest of my life.

1) engage in enough just in time logistics work to get the cpital to start up my spread ideally supplementing what spouse gets as a pension if God and the marxists allow it.

2) invest in gaining the skills necessary to start up a small hand to mouth business in converting surplus ConExes into self-contained living modules this too will take either capital or leveraging my spread or debt potential.

3) using what gains I make to invest in small businesses for a % of the profit as a defacto annuity, a pizza joint here, a bike shop there if I invest enough capital to help people develop real business and enough of those make enough gain that i can have a spare 500-2000 a month when taken as a whole I will be whistling Dixie.

The banks, and politicians have our nation in a trap and we as theoretical free market citizens by birthright have failed to keep them under control instead bitching and angling for dane'sgeld that perversely is taken from our work anyway.


Posted by: sven10077 at January 14, 2013 11:31 AM (LRFds)

250 244 backwardsBoy,

If it comes to that and we lose it all I will take you up on it.

If we make it to retirement and I have money/time to kill I will at least make a cameo.

I find as i age and grasp how the engine of a healthy economy works that our nation has severely undervalued the machinists, and schlagmen.

We let the unions price our trades out of competition, and we all suffer for it.


Posted by: sven10077 at January 14, 2013 11:33 AM (LRFds)

251 If you love DOOM, let it go. If it comes back to you, it was meant to be. I always knew our delightfully downtrodden paths would cross again, DOOM. Thanks for getting back on that apocalyptic horse Monty, Ill b watching for more.

Posted by: Infidelswine at January 14, 2013 11:53 AM (R81AT)

252 Good to see you, Montgomery.

Posted by: rdbrewer at January 14, 2013 11:59 AM (Iyg03)

253 Can the guy who says en fuego be far behind?

Posted by: The Poster Formerly Known as Mr. Barky at January 14, 2013 12:10 PM (qwK3S)

254 In fact, what happens is that the very people an economy needs the most (young, dynamic, industrious) leave while the most expensive and unproductive (the old, the poor, and the sick) stay.

Which is why the East Germans built the Wall. The old, the poor, and the sick could leave whenever they wanted. They were worthless to the Reds, who view people as factors of production. You don't keep around a broken lathe, do you?

Posted by: Jay Guevara at January 14, 2013 12:10 PM (ZTfHa)

255 Man, I missed me some DOOM. Welcome back!

Posted by: Valiant at January 14, 2013 12:11 PM (aFxlY)

256 254 jay Guevera,

see Cuban Boat Lift to Florida and castro "flushing his toilets."

The GOP ain't the one who likes to have dinner with that guy.

Posted by: sven10077 at January 14, 2013 12:14 PM (LRFds)

257 Welcome back Monty! Missed the DOOM, so very, very happy it's back.

And why is it good that Monty's DOOM is back?

1. It makes us aware of economic conditions
2. Being aware helps us make good decisions
3. Being able to make good decisions gives us power.
4. Reading about the MFM in constant O-fellate mode makes us feel defenseless and powerless
5. Not so much with DOOM.

Power to the doomsayers! Viva la DOOM!

Posted by: shibumi at January 14, 2013 12:34 PM (z63Tr)

258 Great to see Doom back.

I'm upping my savings, but I don't know why.

Having money when the safety nets makes sense, yes. OTOH, once we hit inflation my savings will be ruined. That's one of the things that the Obamunists forget- anyone on the government dole, including soldiers and sailors as well as bureaucrats and transfer-payee's - are completely destroyed when inflation kicks in.

Even if it's only, say, 8% a year - there's no way for the government to increase their pay by that amount without printing more money... and that only makes things worse.

Businesses that create actual wealth can provide COLA's based on how quickly they can raise their own prices. It's not pretty, but this is typically a 3 to 6 month lag. Enough that the employees suffer, but they can "keep up."

Fed salaries and payouts? Much more difficult to increase. People sucking on the government's teat could easily be 15 or 18 months behind the curve - a very bad place to be.

Oh well.

Gold is a good inflationary hedge, but that market is so easily manipulated...

Posted by: RobM1981 at January 14, 2013 01:11 PM (4WC+3)

259 Is that bacon I smell? Oh. Just DOOM. Shit.

Glad to see you dooming up the place again, Doomster.

Posted by: Miss Scarlett with the lead pipe at January 14, 2013 01:53 PM (sZB0s)

260 Oh, happy day, the DOOM is back!Nothing cheers me up, like intimately shared catastrophe, nuthin', I tells ya.......Also, RAAACIST!

Posted by: MtTB at January 14, 2013 02:10 PM (8E9QA)

261 Well dip my balls in multi-flavored puddin. Glad yer back Monty...

Posted by: Odel Roo at January 14, 2013 02:37 PM (h5Cp+)

262
Welcome back Monty!

And DOOM! Sweet, merciless DOOM! Run to me, embrace me my love. Then let the rebuilding begin!

Posted by: Stateless_Infidel at January 14, 2013 02:48 PM (AC0lD)

263 Weeee!! DOOM is back!!! Thanks Monty! These threads coupled with a George Jones CD lifts my spirits. Yes, I'm weird.

Posted by: puddleglum at January 14, 2013 03:02 PM (s8GFb)

264 The DOOM is back and my prayers are answered. I now have an excuse for after work beer drinking. WOOOOOH HOOOOOOH!

Posted by: Midnight Clad at January 14, 2013 06:40 PM (PtL5V)

265 hunka-hunka burnin'. . .


love.

Posted by: dissent555 at January 14, 2013 07:15 PM (yR6A1)

266 Super late here but wanted to say "Welcome Back, Mr. Monty!" The DOOM reports may not be the cheeriest but it's great to see a familiar face (as it were) once again. ^_^

mac :]

Posted by: macbrooks at January 15, 2013 10:56 AM (Kcjfs)






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