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Jul 29 2011

Now for Something Really Scary…

Click for full size. Note the gap between spending and revenue. This ship won’t be afloat for long:

GDP-vs-revenue-vs-spending

Good thing the graph stops in 2010. I couldn’t bear to see what it looks like after another year of Obama.

Via The Street, on a tip from Jodie.

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  • Louisiana Steve

    Looks like my Amex card back in college.

  • Silent Knight

    As I said earlier this week, this Debt Limit Waltz is to the music of Titanic Band playing on…as the ship slowly sinks in the icy waters of the North Atlantic.

    The Survivalists and Conspiracy folks will have the last laugh…albeit a short laugh. We’re all going down.

  • Turbo

    ..and only white extremist, terrorist, TEA-bagging Hobbits would see any problem with those trends! Unlock the credit cards for Stretch and the boys- they’re trying to buy throngs of new dependent voters for 2012!!

    Turbo

  • AC

    Oh, I’ll be having a long laugh.

    After decades of moonbattery, it’s time for them to pay the piper.

    My assets can’t be debauched by a printing press.

    My energy can’t be shut off or rationed because I’m self-sufficient.

    I won’t care when the store shelves empty because I’m extremely well-stocked.

    I’ll sleep comfortably if rioting and brigandry spread, because it will take somewhere between an oxy torch and a military demo team to break into my house. If burglars should enter, my Second Amendment rights can take care of that too.

    I’ll still have Internet if Comrade Chairman shuts domestic networks down.

    I have plenty of eBooks should the libraries be ransacked.

    When the mayhem dies down and the desperation ripples through the system, I’ll be there with sound money to buy up the devalued assets from their moonbatty former owners.

    I hope a sufficiently large number of level-headed adults have prepared likewise and are ready to step in when the children have lost control.

    For years I told liberals the end of the path which they chose. Now they get to see for themselves.

  • KHarn

    Haven’t any of these idiot polititions ever taken a BASIC ECCONOMICS class? All they know is BUYING VOTES with OUR money.

    Some of the new representatives who came in with the last election get it, thank God.

  • libertea73

    Wow. Does the spending line remind anyone else of a “hockey stick.” And GDP looks similar except upsidedown. Is Michael Mann involved in this?

  • Austin

    Note worthy – Democrats took total control of Congress in November 2006.

  • Jukin

    As the democrat party took over the congress, the spending went on an exponential rally.

    No longer are they tax and spend. Now they are spend and borrow…and the TAX the shit out of us.

  • AC

    Against the Boehner Plan – Andrew C. McCarthy

    The Boehner plan continues the unsustainable deficit spending, selling the American people yet another false promise to keep the Ponzi rolling on a little while longer.

    Only 22 Republicans voted against this burdensome travesty

    Party politics is still in full swing. Only 22 districts can take pride in having a representative who puts economic security before saving face for the party.

    The Republican establishment is not going to stop the coming collapse. The Republican establishment is too concerned with business as usual politics on the way down.

    Will Republican platitudes about small government and opposing Obama pay your rent or keep the lights on?

    It’s time for a radical change from GOP business as usual.

    That change is Ron Paul.

    If Republicans want to get worked up into a huff about social litmus tests and foreign policy circlejerking then they will have plenty of time to continue those debates when unemployment climbs into the stratosphere and they’re living in a van down by the river.

    Is John Bolton going to pay your bills? What about all the countries who pretend to be fair weather friends to keep the foreign aid gravy train rolling – will they be there for us in our time of economic peril, generously giving back all that we gave away not knowing one day we’d need it all, and more?

    Perhaps these litmus test Republicans will draw some degree of security knowing that Ron Paul never got elected and they were spared the horror of legal medical marijuana – just as a Detroit-style crack and crime epidemic overwhelms their town amid the economic gloom.

    Right now the only sane issue is the economy.

    Living through a post-Soviet style hell and watching good people and their families evicted en masse is a much greater threat to the American family than a politician’s position on DOMA. Graduates living with their parents aren’t exactly the types planning marriages and families – if anything, they’re only good for knocking up a random lay and never having the income to pay child support. That hardly protects the family.

    If we don’t put economic issues first and foremost in our consideration, then America as we know it is done.

    So what will it be?

  • Alxandro

    Holy crap! Looks like a freakin’ seismograph of our country

    OMG, it is.

  • Silent Knight

    @AC

    I, too, am well-prepared,
    but let’s not get overconfident…

    “But there are also unknown unknowns,
    The ones we don’t know
    We don’t know.”

    —Donald Rumsfeld Feb. 12, 2002
    Department of Defense news briefing

  • Jodie

    AC says:
    July 29, 2011 at 2:41 pm
    I’m so happy to hear your story.

    I’m curious though, is that the norm among financial advisers? The reason that I ask is that I became very frustrated with them over the years. While I could see the interest income rates were going down to practically nil, the financial advisers were telling my clients to put their money in CD’s. When it was obvious that the stock market would be tanking soon, they were telling people to put their money in stocks and risky 401k’s.

    My experience may not be the norm, so I wonder what your take on this is. Did you do things differently than the popular trends?

  • Vince

    Silent Knight said it best, survivalists will have a SHORT laugh. Such a world won’t be one that will be desirable to live in. In all probability, you’ll likely tack on a few weeks or months to your life after spending gobs of money and time preparing. Big effing deal.

  • hiram

    “AC says:
    July 29, 2011 at 2:41 pm

    Oh, I’ll be having a long laugh.”

    Ditto, brother. This week’s purchases: Hand-cranked grain mill, Dutch Oven, 200 more rounds of .40 S&W (for my carbine), and as much silver as my remaining cash, after paying bills will allow.

    Vince… this is why my company is seriously considering relocating to Brazil. Sure, we’ll have to employ security 24/7… like, ex- or off duty Brazilian military types as guards/escorts. But hey, they work for (relative) peanuts, and maybe we can cash in on all that foreign aid that ‘Bammy is slinging around like it grows on trees, right?

  • hiram

    and no, I have no desire to purchase Oakley sunglasses. Why would I pay more for a pair of sunglasses than I would for a 32″ flat panel?

    Seriously, Dave… since the format switch, the spamming/trolling has become “an issue”. I think we may have to go to registration

  • Vince

    Yes, you just might (reap the benefits in Brazil)…though the foreign aid is just a fraction of the country’s total expenditures, way below entitlement spending and Defense.

    I am glad you all are free and clear on your mortgages, are not currently renting, etc. :) Otherwise I might be more seriously looking at all the above solutions. Short of robbing a bank (or maybe becoming a squatter), there is little I can personally do to prepare for a SHTF scenario. I’m sure the NWO will have something in store for people like me (perhaps modern gas chambers)…at least I’ll know my misery is coming to a quick end.

  • Vince

    PS. I have posted here in the past, long before this new format, if you are insinuating that I’m some kind of troll.

    Oh and btw, if the US economy implodes, so will most other modern economies. There isn’t enough silver/gold in the world for the billions of souls to trade, so there will either be a fallback solution employed (and it won’t be pretty or well liked) or everyone will be forced to revert to bartering.

  • AC

    I am glad you all are free and clear on your mortgages

    I’m leveraged to the hilt between 4.125% and 4.375% on multiple properties on 30 year fixed terms.

    When Zimbabwe Ben destroys the dollar it will destroy the value of the debt. Long term fixed rate loans are one thing you don’t want to pay off in preparation for bad inflation provided you retain enough liquid hard assets to cover the notes.

    Cashing in hard assets to liquidate cheap mortgage debt is a bad idea.

    There isn’t enough silver/gold in the world

    Baloney. Gold and silver are fungible and nearly infinitely divisible. That argument has been made many times and is never economically sound.

    If you want to stick with it, tell me: how much gold and silver is “enough.” What makes 1ozt sufficient for one trade but not for another?

    There isn’t enough for it to circulate in large bulk in everyday commerce because of the sizes involved, but that doesn’t make it insufficient for backing the instruments used in trade. Trading $1 in physical gold is impractical yet there is no reason why even $0.01 can’t be backed by gold and freely converted upon aggregation.

    The “not enough” argument is being used by the Keynesian rotters and globalist maniacs to downplay its use in a future monetary system, solely as a way of driving its price down and continuing the fiat Ponzi.

    As soon as the fiat shell game collapses they will certainly find more than enough gold to back whatever currency is required for society to rise from the rubble. If the dollar hyperinflates then gold will be required to obtain crude oil, and right about then gold will suddenly be found suitable as the basis for a monetary system.

  • AC

    there is little I can personally do to prepare for a SHTF scenario

    Basic preparations can begin for a few hundred dollars. It might not save you from the most extreme threat you see in the camps, but it could save your life or protect your comfort if the looting starts or the store shelves empty.

  • Vince

    I am referring to everyday trading and its practical use and the sheer amount that would be required, not to mention the logistical nightmare of moving the metal (everything would become local, and the global economy would virtually cease to exist). HOWEVER, its use as the basis of value for whatever currency rises from the ashes (as you seemed to allude) definitely looks like the most sound path.

  • Vince

    I would contend such preparations in an apartment such as mine would be no match for the panic that ensues. That’s actually why I was hoping to get a 30-year note before the veritable fan starts blowing…quickly running out of time.

  • AC

    Gold could be either 100x as abundant or 100x as scarce and it still wouldn’t circulate as raw metal for making change.

    In a fully convertible gold-backed currency not much needs to move around. Much of what would be a back and forth would be netted out by an electronic clearing house, and the remaining balance would not always need to be immediately redeemed.

    As long as the warehouses are kept completely honest (be they government or private, or both) then simple fully allocated storage in a vault is enough. The important part is that whoever owns the bars has full and unencumbered title, unlike most gold funds running now.

    The important part of the overall system is the assurance of convertibility. If everybody can immediately redeem dollars for gold, whether that is a small amount of dollars for an ounce or standard fraction, or a large amount of dollars for a good delivery bar, then the entire system is stable and fully backed.

    In such a system there would be no reason why the same dollar in gold couldn’t be spent at a merchant with a credit card, settled to the merchant’s account via ACH, then ultimately paid out via wire to the merchant’s suppliers, flowing back to employees via check, and so on and so forth.

    The keys are:

    1. All dollars (and electronic deposit equivalents) can be fully and immediately redeemed in gold.
    2. All assayed gold can be immediately redeemed in dollars.
    3. Ownership of dollars always vests legal title to a certain quality of gold, not an unsecured claim or bailment.
    4. All depository institutions are kept honest through both public and private oversight of each.

    There never has been a need for the physical metal to circulate exclusively. Warehouse receipts are thousands of years old. The problem is the fraudulent issuance.

  • AC

    A gun, ammo, water, nonperishable staple food, basic first aid, disaster supplies, and door frame reinforcement/bracing can all be had for a few hundred dollars and should be no barrier to an apartment dweller.

    To invoke the cliche anecdote, you don’t have to outrun the bear, only the other hiker.

    I’m not talking about things which are far out there, either. Something so simple as a hand cranked radio could save your life if the power goes out, looting breaks out, and you have to make a decision on whether to stay or leave.

    If things get messy the cell networks will either be jammed to capacity or shut down by the government to keep instigators from using them to spread mayhem.

    When rampaging animals destroyed the power and phone lines in the 1992 LA Riots, innocent victims trapped in the madness had to stay updated on the radio.

    If you were knifed by a looter could you sterilize the area and stop the bleeding? In civil disorder ambulances might be unavailable due to too much demand or snipers/looters making the area unsafe for emergency crews. Basic first aid could save you from bleeding out.

    If something needed shot would you have the means to shoot it?

    If the water went out and the streets were too dangerous to travel, how many days could you last?

    Do you have a hidden safe to protect important documents and valuable items?

    A reinforced door frame could discourage a burglar long enough for him to move on and loot the next unit.

    There are many more examples of basic things like this which anybody in any residence can do on a modest budget. Being a patriot means being prepared and not adding to the chaos of the people who won’t make it six hours with a basic service out.

  • Vince

    All good preparation methods…being across the street from a hospital is another benefit (can’t imagine they’d stay operational in a commie collapse). However, a reinforced door frame wouldn’t be anywhere near enough, with the huge windows that surround it on both sides, which would also need some serious hardening. The trick would be getting out methinks, not sticking around and seeing how long we could hold the fort. Of course, if an EMP struck (or the sun unleashed some significant electromagnetic radiation), all bets would be off. What I’ve learned in studying the matter is there are so many contingencies to consider, I am easily bound to miss something. This is why I’m primarily considering bugging out, not staying put.

  • AC

    Window security film is cheap and easy to install. While it isn’t quite as tough as bullet resistant glass, it may stop thugs in their tracks, and it will definitely slow them down enough for you to retrieve long arms and terminate the burglary.

    Window films are surprisingly durable. Youtube has some great demonstration videos.

    Bugging out is a great idea. Keeping vehicles fueled and a BoB at the ready is a good option to have.

    We can’t always plan to bug out. Suppose the mayhem begins late in the afternoon, kicks into high gear in the evening, and isn’t reported by the media until the next day. Suppose it begins when you’re asleep.

    What if by the time you wake up the National Guard is deployed and roads out are closed?

    Stuck in an urban or suburban apartment is not where you would want to be, if you had a choice, but the nature of mayhem might take that choice away.

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