Monthly Archives: August 2012

Snap! Crackle! Pop!…Goes the Student Loan Bubble!

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“The US Department of Education has become the Countrywide of student lending. After a lending binge started in 2009, it now holds a massive $452 billion portfolio of student loan receivables, according to Federal Reserve data. This so-called ‘asset’ will become a liability by next year.  Thanks to the punk job market, a huge percentage of these loans will go bad or have to be restructured. When that happens, Congress will have to appropriate money to make up for the loan-payment shortfall. What was quietly off budget will soon make a big splash on the federal budget.”

http://dailyreckoning.com/snap-crackle-pop-goes-the-student-loan-bubble/

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Charles Goyette: Government vs. Prosperity (Chapter 1, Abridged)

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“Republican and Democratic majorities alike insisted on socializing the losses of private banks and corporations, while guaranteeing their profits were theirs to keep.  The country is financially insolvent because the Washington parties, red and blue alike, are philosophically bankrupt. Their shared statist philosophy needs to be exposed before it does us any more harm.  Prosperity is something much greater than wealth. Prosperity refers to the wellsprings of human ingenuity and enterprise from which long-term wealth and human improvement bubble forth.”

http://www.moneyandmarkets.com/government-vs-prosperity-50274

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Peter Schiff: The Inevitable Collapse

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“Ultimately the implosion in the economy is much more dramatic than in 08 because there are no bailouts coming. There’s nobody to bail out the bailer. Once the government fails its game over and so this is the final bubble and I called it in my book, the government bubble. That’s what it is, it’s a bubble in government and it’s sustained by low interest rates, just like the housing bubble was sustained by low interest rates. But, you know all bubbles burst. It’s inevitable; the problem isn’t that this bubble is going to burst, the problem is that we inflated it in the first place and that we continue to blow air into it.”

http://www.wallstreetoasis.com/blog/peter-schiff-interview-the-inevitable-collapse-of-america-part-1

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Peter Schiff: Gold & The Perfect Storm That Will Lead To Collapse

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“We don’t need QE, we only need it the way a heroin addict needs heroin.  It’s not good.  It’s better to go through withdrawal and get the heroin out of your system.  But we’ve got an economy that’s completely dependent on QE.  That’s why it’s so screwed up.  We need to break that dependency, but the Federal Reserve doesn’t have the stomach for that.  So they are going to keep on ‘fixing’ us with more and more damaging doses of QE.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/9_Schiff_-_Gold_%26_The_Perfect_Storm_That_Will_Lead_To_Collapse.html

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On the Wrong Side of History

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“The Fed’s vaunted independence is a myth; largely created by Fed officials and its Wall Street/financial sector supporters who benefit from its lack of transparency. The Fed is intended to be independent from the Treasury Department, but never from Congress. Indeed, the Fed remains subject to full oversight and regulation by Congress — up to and including abolishing the Fed altogether!”

http://www.campaignforliberty.org/profile/7786/blog/2012/08/08/wrong-side-history

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Google Trends: QE3

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http://www.google.com/trends/viz?q=qe3&graph=weekly_img&sa=N

The post-QE2.5 clamor grows louder.

http://www.google.com/trends/?q=qe3

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Ron Paul: Legalize Competing Currencies

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“Those who dare to challenge federal legal tender laws by circulating competing currencies risk going to prison.  Mexican workers can set up accounts denominated in ounces of silver and take tax-free delivery of that silver whenever they want. In Singapore and other Asian countries, individuals can set up bank accounts denominated in gold and silver. Debit cards can be linked to gold and silver accounts so that customers can use gold and silver to make point of sale transactions, a service which is only available to non-Americans. There is no reason why Americans should not be able to transact, save, and invest using the currency of their choosing.”

http://www.thedailybell.com/4182/Ron-Paul-Legalize-Competing-Currencies

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Anthony Wile: Parting Company With Nigel Farage and Suggesting a New Role

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“Farage, as eloquent and blunt as he is, still worries about a banking bust up. I say … Let it happen.  Let people return, as they would quickly, to a series of overlapping currency and money metals solutions. Let people congregate in communities of interest run by themselves, not politicians a thousand miles away.  Let people barter, or trade currency or put silver or even gold into circulation as they choose. All this is preferable to the current monopoly central banking that is nothing more essentially than a bankroll for global government.”

http://www.thedailybell.com/4174/Anthony-Wile-Parting-Company-With-Nigel-Farage-and-Suggesting-a-New-Role

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Nigel Farage: Collapsing The System & Enslaving People

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“Governments don’t have the courage to tell the people that we cannot afford to go on living the way that we are.  We’ve really failed very badly in having honest politics, so we have this gross and very grave debt problem.  Now everyone has decided, the Bank of England, the Fed, and the European Central Bank, who are utterly brilliant people that have led us to the mess we are in, they’ve all decided that the solution is quantitative easing.  The solution is to go on printing and creating false money in an attempt to buy our way out of the (ongoing) crisis, actually compounding the problem.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/10_Nigel_Farage_-_They_Will_Collapse_The_System_&_Enslave_People.html

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What does a police state look like?

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“When most Americans imagine a police state they recall the rise and fall of German fascism. Goose stepping storm troopers marching up and down the square. They think of government surveillance, secret police and extrajudicial death squads. Most Americans also connect these images with phrases like, ‘it could never happen here,’ ‘I have nothing to hide,’ and of course, ‘America is a free country.’  These mantras are the bars of the cage. They quite the mind, reduce anxiety, and promote a docile attitude. But how bad does it have to get before the mantras stop working?”

http://www.examiner.com/article/what-does-a-police-state-look-like

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