patrick.net

No, you aren't missing it, but most Americans are. We ignore the words of Jefferson et. al at our peril. All Americans care about is getting their cut and feeling good, even if it means drowning in debt. This country is no longer government of the people, by the people and for the people. It is GOVERNMENT OF THE MONEY, BY THE MONEY AND FOR THE MONEY. The economic "crisis" is self-induced by deluded, stupid, lazy and dumb people who don't vote anymore (or who keep electing incumbents who are beholden to the bankers). It is a vast conspiracy by the rich and powerful over the centuries who are engaged in cruel and cynical manipulation of human nature's weaknesses. Now it is our turn to collapse. We didn't listen to history, and we die. Period.

Great reply. Except that I'm not ready to die...
It seems to me we have become a nation of the corporate interests by the corporate interests and for the corportate interests.
Totally agree that we need to stop voting for incumbrats if they can not say no to a flurry of some of the worse bills I have ever seen in Congress...bailouts, Cap and Tax, healthcare, $8,000 misery tax credit, Tarp..etc.
And where the hell is the US supreme court on all these unconstitutional bills and executive actions?

After today's non-FOMC event and announcement, Just Wait a Little Longer . .

Bombs Away will no longer relate Japan to Hiroshima or Nagasaki. What's coming BACK to US will be just as bad..

Helicopter Ben better have his exit strategy mapped out b/c when the sh*t hits the fan, - oh well, you finish the sentence....

(apologies for the loong post-I know you will find interesting if you are serious)

DOLLAR LOSES RESERVE STATUS TO THE YEN
By PAUL THARP

Click on the link below to access the story.
http://www.nypost.com/p/news/business/dollar_loses_reserve_status_to_yen_hFyfwvpBW1YYLykSJwTTEL

Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.

Over the last three months, banks put 63 percent of their new cash into euros and yen -- not the greenbacks -- a nearly complete reversal of the dollar's onetime dominance for reserves, according to Barclays Capital. The dollar's share of new cash in the central banks was down to 37 percent -- compared with two-thirds a decade ago.

Currently, dollars account for about 62 percent of the currency reserve at central banks -- the lowest on record, said the International Monetary Fund.

Bernanke could go down in economic history as the man who killed the greenback on the operating table.

After printing up trillions of new dollars and new bonds to stimulate the US economy, the Federal Reserve chief is now boxed into a corner battling two separate monsters that could devour the economy -- ravenous inflation on one hand, and a perilous recession on the other.

"He's in a crisis worse than the meltdown ever was," said Peter Schiff, president of Euro Pacific Capital. "I fear that he could be the Fed chairman who brought down the whole thing."

Investors and central banks are snubbing dollars because the greenback is kept too weak by zero interest rates and a flood of greenbacks in the global economy.

They grumble that they've loaned the US record amounts to cover its mounting debt, but are getting paid back by a currency that's worth 10 percent less in the past three months alone. In a decade, it's down nearly one-third.

Yesterday, the dollar had a mixed performance, falling slightly against the British pound to $1.5801 from $1.5846 Friday, but rising against the euro to $1.4779 from $1.4709 and against the yen to 89.85 yen from 89.78.

Economists believe the market rebellion against the dollar will spread until Bernanke starts raising interest rates from around zero to the high single digits, and pulls back the flood of currency spewed from US printing presses.

"That's a cure, but it's also going to stifle any US economic growth," said Schiff. "The economy is addicted to the cheap interest and liquidity."

Economists warn that a jump in rates will clobber stocks and cripple the already stalled housing market.

"Bernanke's other choice is to keep rates at zero, print even more money and sell more debt, but we'll see triple-digit inflation that could collapse the economy as we know it.

"The stimulus is what's toxic -- we're poisoning ourselves and the global economy with it."

Friends and Foes alike in blogland, I hope everyone is well tonight. Think for yourself and Be Prepared. The fan is set on high and the dirty brown bag is right on track to open...

Dear Nomo, believe me, I am and I do. I just don't tolerate stupid, that's all.

Pretty sad, I wonder why no mobs still and not a single sane bill to trigger industrial production.

The silence is deafening, ain't it?

The American way is to assume enough other people will protest.