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Ktrosper
Posts: 1500
Incept: 2010-04-06
ft collins co
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Gen wrote..Not until we see the rule of law mean something once again, the crooks go to jail and opportunity returns to America will we see actual progress in our economy. /nod Totally agree. At this point, they don't really need to break laws to loot what's left.. Between the worthless judiciary and the 2,000 page "pass it so we can see what's in it" legislation they pop out on a regular basis, those that claim "But, they didn't break any laws!" are increasingly correct. No economy/market can work, much less recover and flourish in an environment where gov gets to pick the winners and losers and private property rights no longer exist.
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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
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Wearedoomed
Posts: 3585
Incept: 2009-01-14
slightly red state
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This morning, I stopped by a local Mexican-fast-food restaurant for some sorta-healthier-than-other-alternatives breakfast. My convo with the manager, a legal resident from Mexico, took a hard turn for the economic and political. He thinks that BarryO and Dubya are both **** Presidents, that BarryO's amnesty move has*****ed off legal residents like himself, that the economy is headed for the ****ter, that Reagan was the best President we've had in the recent past, and that Billy Clit did a reasonable job. I mildly disputed his claim about the Clit, but he certainly hit all the major points otherwise. ****'s gonna get real, kids.
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And you, my father, there on the sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.
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Crzymorse
Posts: 1195
Incept: 2010-06-25
Maryland
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Good news, compliments of clean burning natural gas and a bad economy our carbon dioxide emissions dropped under 1992 levels required by the Kyoto protocol we didn't sign.
With the shale oil and gas we will be pretty much energy independent of the middle east. Our balance of payments should change over the next couple years (tax revenue should also go up) and the interest on our debt should go up as recycled petrodollars from the middle east stop buying treasuries.
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Houstonfalcon
Posts: 10
Incept: 2010-05-30
McDonough, GA
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Gen, I can confirm that tourism-related traffic was way down this summer. I'm near I-75 south of Atlanta where I see traffic going to Florida. The first indicator was Spring Break which was well down from last year. There was a smaller bump after school let out in May. Later this year, I expected the 10-15 mile traffic backups on I-75 during the weekends prior to school. The traffic was much more subdued and I did not see the usual backups.
Couple this observation with the lowered amount of truck traffic I see on the same stretch of road and I can tell we are going into recession again. I don't know how bad it is on I-95 down the East Coast, but I can tell you that traffic through Atlanta and Georgia is not what it used to be.
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Bsfootprint
Posts: 966
Incept: 2011-02-27
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Braced... Don't forget the garbage! http://www.washingtonpost.com/blogs/the-....Edit: And then there's the Architecture Billings Index: http://www.architectmagazine.com/busines....Quote:The bad news in architecture billings continued in June. According to the American Institute of Architects’ monthly Architecture Billings Index, the numbers for June came in similar to those for May. The national billings score is 45.9, almost identical to May’s 45.8. The new projects inquiry index is 54.4, which is slightly higher than May’s 54.0.
This makes three straight months that the billings score has shown contracting architecture billing and work. (Any number above 50 means that billings are growing; below 50 means contraction.) 
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When I hear central bankers are blowing bubbles, I like to picture a large, happy and well-endowed male chimp named 'Bubbles'...
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Oldno7
Posts: 2141
Incept: 2008-11-14
RECALL STATE USA
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I believe Paul Ryan has touched some of these issues: Quote:Restoring the rule of law — reducing the influence of bureaucrats in the lives of Americans and empowering them to take more control over their own lives — is central to the budget we passed earlier this year. In fact, such reforms go hand in hand with our efforts to lift the crushing burden of debt, secure our social safety net, and spur job creation and sustained economic growth for all Americans. http://blogs.wsj.com/law/2012/08/13/paul....I'm willing to give them a chance if they talk about the important issues. Whether they do anything only time will tell.
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IT'S THE SPENDING STUPID The US must become less a government of men, and more a government of LAW.
When people lose everything and have nothing left to lose they lose it -Gerald Celente
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Nevertoolate
Posts: 1222
Incept: 2007-08-26
San Antonio de Bexar de runover with illegals, Texas
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The politicians are not capable of grasping what you are saying. They look at the Banksters checkbook as the "only" way to get reelected. The Banksters of course are funding both candidates in an election so it is "no lose" for them. IMHO when the assault on the 1% began in earnest, they started pulling in their horns in a big way. That's what you are seeing now. The other 99% were already strapped. The rule of law is an underlying confidence builder, but as KD pointed out, .gov might select your competitor over you with direct help. .Gov should make financial grants, loans etc. available to ANYONE willing to take the risk, not just the ones who politicially and financially support the existing politicians. This kind of damage in the system will take years to repair.
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"Socialist never mind stealing, as long as they are the ones doing the stealing. They never mind lying, as long as they are doing the lying."-Mannfm11
Before you attempt to beat the odds, be sure that you can survive the odds beating you.
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Frat
Posts: 1935
Incept: 2009-07-15
NKY
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Bent over? Check.
Stick in mouth? Check.
Poor attempt at self-lubing? Check.
Well, since I'm a rather middle-middle class debt slave with a pittance on hand and all my weaponry and ammo lost in that boating accident, all I can do is relax and hope the savaging is quick.
But, knowing TPTB, I'll be bloody and taking round 5 before I know it. Damn Mrs Frat for being 8 months knocked up. I'd say "I had no part in it," but I did have at least ONE part 'in' it, although I objected strenuously!
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We're ****ed. Where's Henry Bowman when you need him?
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Mo
Posts: 12158
Incept: 2007-06-26
Pa.
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According to these guys, tourism is setting a record in FL this year: Quote:Overseas Tourism Way Up; Overall Numbers Good
By: Michael Peltier News Service of Florida | Posted: August 17, 2012 3:55 AM
Buoyed by relatively strong economies, especially in Latin America, overseas tourists flocked to Florida in recent months, with the number of foreign visitors jumping by 10 percent for the quarter ending June 30.
The year-to-year increase in overseas visitors came atop steady domestic travel numbers, a combination Florida's top tourism official said has put the state on track for a banner year. http://www.sunshinestatenews.com/story/o....
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Welcome to Pottersville
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Blackswan
Posts: 5564
Incept: 2007-11-06
Just outside of Philly
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I caught a 20 year anniversary video replay of huricanne Andrew and the looting and people guarding their stuff with guns. (some just young children with guns). Minus the wreckage looks like the good times we are headed for..
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“It’s checkmate. Everywhere it’s checkmate.”
Hugh Hendry
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Debtpie
Posts: 534
Incept: 2009-12-17
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Quote:take risk by starting businesses -- and hiring employees Hmm...my vantage take on why the lack of "risk taking". A. The people with experience in small start ups (40+ crowd) are getting old and tired. B. The next generation that works for them are lazy, stupid and broke..not all..I know...but the population behind the boomers is much smaller..so the pool is smaller to begin with...and the boomers did a horrible job education/preparing that next generation. C. The generation behind the boomers is swimming in debt. The life style they "deserve" could only come from debt; and the banks were happy to oblige. D. Way too many of the 20-somethings are pussies. Two 'men' within stones throw of my house still live at home...one has his girlfriend living there too and the other his wife and kids...these guys have never moved out...WTF!...think these guys are going to start a business...they can't even gain the courage to move out of mommy and daddies house! E. The late 20's, early 30's crowd (the new "start up" generation) are not interested in 50+ hour workweeks; they just want a job...9 to 5...with high pay... Summary, we have a generational shift in progress. The 85 million "boot straps" boomers are handing things over to their 65 million spoiled rotten kids...so we have fewer people in that prime "start a business" age combined with a life-style they think they deserve that doesn't/shouldn't come from hard work and risk taking. Sure the current risk takers don't like the political uncertainty, but I think that's a much smaller factor than the generational and work ethic shift.
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A Leader, or an Opportunist? "A leader has the capacity of vision, the ability to see where things are headed before people in general see those things." Mitt Romney --- DebtPie's definition: a leader decides where "things" should head and "leads" us there.
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Duc888
Posts: 7368
Incept: 2008-11-06
CT, the UNconstitution State
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Anecdotal: My younger brother called me yesterday and he is a Senior Contractor Super in a very large company here in the northeast. He's done a lot of work at the sub base previously, being in charge of 300+ guys and a slew of subcontractors. He went to buy two tires yesterday for the company vehicle he drives and the company credit card he was issued was unceremoniously cut back to a $500.00 limit. Of course they don't bother to tell you until you go to use it. So he maxed out the $500 on the card and had to pay $12 out of his pocket to get the truck out of the tire shop...he says they have NO projects coming in for the last three months. None. Nothing on the horizon.
Second story, I went to my local watering hole Bar / Grill down the street from my shop. They opened up the spring of 2008, April I believe. The young couple moved from Long Island where the wife had extensive experience in running a profitable restaurant. So they buy a dilapidated building on Main St of my town at the height of the market (2007), put a **** ton of money into it and open it in spring of 2008. They get three months of slammin' good business and it's been hell on earth for them since TSHTF in fall of 2008. I just found out last evening they're givin' it all up, packing in and gonna close the business and dump the building onto the market for what ever they can get.
Not good indicators here in the North East...
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...burp
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Magus
Posts: 1979
Incept: 2008-05-04
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Sales in all of our touristy stores were overall quite strong this year so I think overall tourism isn't necessarily that bad. We're going to a nice all inclusive in st lucia in october - mostly sold out (only a handful of the dozen room types have space left) and this is after prices went up 10% this year.
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"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
-~~Ludwig V
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Duc888
Posts: 7368
Incept: 2008-11-06
CT, the UNconstitution State
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debtpie : Quote:The next generation that works for them are lazy, stupid and broke. If you're referring to X'ers, I totally disagree on all three counts. My opinion is based on my fellow business men / women I interact with in my own town and the surrounding towns...
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...burp
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Lowbeyond
Posts: 16938
Incept: 2008-02-11
CO aka West NJ/East CA
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Quote:E. The late 20's, early 30's crowd (most likely to "start up") are not interested in 50+ hour workweeks; they just want a job...9 to 5...with high pay... That is a reasonable want Why would you start a business in this climate. The State will run you through the wringer and steal most of your property in taxes, fees, and regulatory costs. Why bother. Looking at all the negative incentives that the State puts in your way, they do not want you to bother either. They want you to be a Doleist.
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Maybe it was a birdy bread-bomber from the future?!
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Matt_bear
Posts: 6364
Incept: 2008-07-15
a week early on spy puts
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with regards to the rule of law, it seems the best way to protect your money is to spread it out with about a half dozen different institutions, including a little bit of bank of sealy.
I assume most Americans will experience an MF global type situation with 1 institution in the next couple of years. Having all your eggs in one basket is too risky.
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In terms of real-world fundamentals, I expect that most of the people around me, whom I work with day to day, and whom I pass on the street ... will be dead within five years.
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Poodlelover
Posts: 147
Incept: 2012-02-02
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We've been hearing about imminent crash for more than three years and in this time the DOW has recovered now past 13,000.
I agree the economy looked to my eyes as sour then, and it does now. This recovery has, by all accounts, but tepid at best.
The old adage about market staying insane longer than you can stay solvent holds as true now as it ever has. I think bracing for impact is not unwise, but one cannot stay braced forever, because we don't know how bad a correction will be, nor when it will happen.
I'm not sure what most of us are even supposed to do if impact occurs. Personally, I'm still contributing to 529s and 401ks, stock heavy but probably lighter than general wisdom would be on equities for my age.
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Mannfm11
Posts: 3556
Incept: 2009-02-28
DFW, Tx
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They are running out of stuff to steal. Hold onto your ass. There hasn't been much of a rule of law for years when it comes to banks and government. Eugene Schroeder, in his studies on declared emergencies, one of which was the Great Depression, started his discussion out with necessity knows no law. Necessity for what? Rarely is it to protect the general welfare of average Americans.
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Debtpie
Posts: 534
Incept: 2009-12-17
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Duc888: Of course not all; but only 65 million will replace the 85 million boomers..so you have a body count shortage combined with an attitude shift...there just aren't enough new "Start up" folks (physically and mentally) to replace those that are getting old and getting out.
Lowbeyond: "That is a reasonable want"...who doesn't want that...problem is the only way to get that "easily" is by working for the government...those jobs are filled..
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A Leader, or an Opportunist? "A leader has the capacity of vision, the ability to see where things are headed before people in general see those things." Mitt Romney --- DebtPie's definition: a leader decides where "things" should head and "leads" us there.
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Mrbill
Posts: 7857
Incept: 2008-10-19
North Carolina
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Low is right. The costs are too high. The gov is desperate for us to work harder to have more to steal.
People my age are working more for happiness than pay, and why wouldn't they? The pay just gets stolen, but there's no tax on happiness.
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End_the_bubbles
Posts: 9525
Incept: 2009-03-25
The New 3rd World
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Quote:there's no tax on happiness. Give them time.....
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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.
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Mannfm11
Posts: 3556
Incept: 2009-02-28
DFW, Tx
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Poodle, go buy stocks with both hands. Stick them in your closet and in a few years you can stick many of them up your ass. What is missing is the $1 trillion or so that went into recapitalize the SPX on the bottom, the dead bodies that went out at zero, the schemes to pump up the indexes. AIG and LU were top 10 cap value stocks in 2000. Citi is trading for under $3 if you take the reverse out. Someone was holding this ****. Here is what is really going on. You might recall the Dow collapsed from around 13K and the SPX above where we are now in May 2008. 3.5 years from the bottom, those that didn't heed the crash are now even. Remember, there wasn't any cash in 2008, so who got on the bottom? Those that got the cash from the government. They are cornered. We have had $3 trillion or more in pure high powered money, the kind banks get first, since late 2008. There was less than $1 trillion when this mess started and throw in the Euro, less than $2 trillion. That is your rally, on shrinking business as well. Take a look at this one, as it illustrates classic pump and dump. Look what happens to the best momentum stocks in the SPX. http://www.acting-man.com/?p=19053
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Oldpool
Posts: 875
Incept: 2010-06-23
LI NY
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DUC were FCKED in the NE precisely because of our onerous .gov burdens, highest taxes most mandates. Most all the startups (contracting biz, restaurants etc are run with and by illegals who don't give a hoot about the law and can't be touched because of their status.
Now Oblowme is giving them a free pass and a vote. So even if RomRyan were going to enforce the rule of law their stacking the deck against them. Really every wholeass official in the NorthEast is a big .gov bureaucrat so best get out whilst one can.
PS I love where I live and it hurts to see whats happening, but generations have made the hard decision before.
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Liberty, Comrade!
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Irishblues
Posts: 290
Incept: 2010-12-18
Wisconsin
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Quote:I'm willing to give them a chance if they talk about the important issues. Whether they do anything only time will tell. Are we talking about the same Paul Ryan who voted for TARP and has been silent on actually enforcing the rule of law and investigating the major banks for rampant and systemic fraud? Sorry, we've been sold the "yeah, I know I didn't do _______, but vote me back into office and I promise I'll do it this time" line of **** way too many times. If you want to fall for it again, ... some phrase about a sucker born every minute comes to mind. |
