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SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!

 
Anonymous Coward
User ID: 25128934
United States
01/30/2013 10:00 AM
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SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
[link to www.cnbc.com]

For those of you consumed by the "booming" stock market, the only thing fueling that is the Fed pumping $40 billion per day into the big banks who then use it to prop up the market and create the illusion that the economy is doing well. That's right, $40 BILLION PER DAY created out of thin air. If they ever stop this, the bubble bursts, the market collapses and the dollar collapses right behind it. Ask yourself "Where is all of this money? The $1 TRILLION stimulus, the $40 BILLION / DAY? Where is it all? The general public isn't holding it, its obviously not flowing through the economy. Who is holding this money? Obama's friends at the big banks and our overseas creditors. That's why the Germans and others are attempting to repatriate their gold reserves. The stock bubble and then the US Dollar bubbles are going to burst and they will make the mortgage crisis feel like an oil massage. We are ruined.

Limpan

User ID: 1474973
Sweden
01/30/2013 10:07 AM

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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
Don't you mean 40 billion a month????
Anonymous Coward (OP)
User ID: 25128934
United States
01/30/2013 10:31 AM
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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
No. I meant $40 BILLION per DAY! To answer your question, I'll tell you where all the "money" is. Its being printed and then borrowed by the big banks at 0% interest and then the banks are using it to buy FED Reserve bonds, then the FED is taking that money and spending it to pay the interest on our debt and fill in at least part of the massive gap between their spending and the tax revenue they receive. Its basically just an unprecedented money laundering operation and the "money" is just a bunch of FED IOU"s that they have no means to pay back. Just digitized IOU's created out of nothing.
<<FOCUS>>
User ID: 33194738
United States
01/30/2013 10:37 AM
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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
No. I meant $40 BILLION per DAY! To answer your question, I'll tell you where all the "money" is. Its being printed and then borrowed by the big banks at 0% interest and then the banks are using it to buy FED Reserve bonds, then the FED is taking that money and spending it to pay the interest on our debt and fill in at least part of the massive gap between their spending and the tax revenue they receive. Its basically just an unprecedented money laundering operation and the "money" is just a bunch of FED IOU"s that they have no means to pay back. Just digitized IOU's created out of nothing.
 Quoting: Anonymous Coward 25128934


The scary thing is we are sending money and weapons and planes to Egypt and we are borrowing money to do it. WTF! Where is the outrage.
Redcat1

User ID: 33054783
United States
01/30/2013 10:39 AM
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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
It 'may' be a one time thing...

It took 5 paragraphs to add the spin...
Anonymous Coward (OP)
User ID: 25128934
United States
01/30/2013 10:40 AM
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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
No. I meant $40 BILLION per DAY! To answer your question, I'll tell you where all the "money" is. Its being printed and then borrowed by the big banks at 0% interest and then the banks are using it to buy FED Reserve bonds, then the FED is taking that money and spending it to pay the interest on our debt and fill in at least part of the massive gap between their spending and the tax revenue they receive. Its basically just an unprecedented money laundering operation and the "money" is just a bunch of FED IOU"s that they have no means to pay back. Just digitized IOU's created out of nothing.
 Quoting: Anonymous Coward 25128934


The scary thing is we are sending money and weapons and planes to Egypt and we are borrowing money to do it. WTF! Where is the outrage.
 Quoting: <<FOCUS>> 33194738


The money that the gov't. is spending that we see, (like planes to Egypt), is nothing compared to the money they are spending that we don't see. The shadow economy between the Fed and the banks is massive and on a scale we cannot even begin to imagine.
Anonymous Coward
User ID: 961432
United States
01/30/2013 10:46 AM
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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
Don't you mean 40 billion a month????
 Quoting: Limpan


I think the fed's direct actions amount to about $85 billion a month, but the administration is deficit spending another $100 billion or so a month. That is wrapped up in new treasury bonds which the primary dealers buy up with federal reserve "credit". They get that credit by supposedly posting some kind of collateral, most likely the bonds they are going to buy. Then they wait a while while prices on bonds rise (in a declining interest rate environment) and sell the bonds back to the fed for a risk free profit.

Anyway, you can assume that with the administration deficit spending to the tune of some $1.2 trillion a year, and that spending is added into GDP, that in reality GDP has been in negative territory for at least as long as Obama has been in office.

This depression is far worse than the first great depression its just that the modern banking system and government debt binging have papered over the usual statistics we all look at for "growth".

Absent the deficit spending real GDP prints would have been negative for at least 4 years running.

.
Anonymous Coward
User ID: 33228148
United States
01/30/2013 10:47 AM
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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
Isn't this like using a credit card to pay off another credit card? It's like a circle jerk. In the meantime, nothing in Washington is being done to reign in spending. The country and our standard of living is being trashed by greed and incompetence. I do believe it is deliberate.
Anonymous Coward
User ID: 18746766
Ireland
01/30/2013 12:29 PM
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Re: SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!!
Isn't this like using a credit card to pay off another credit card? It's like a circle jerk. In the meantime, nothing in Washington is being done to reign in spending. The country and our standard of living is being trashed by greed and incompetence. I do believe it is deliberate.
 Quoting: Anonymous Coward 33228148


not quite, its more like making your own credit card with no limits

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