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Mission Accomplished!! We have regained our wealth from the Great Recession!

 
Anonymous Coward
User ID: 28870983
United States
03/08/2013 11:54 AM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
what's coming back?

gas at $3.75?

food in weekly shrinking packages?

dental/medical inflating to oblivion?
Woot Woot

User ID: 29998379
Canada
03/08/2013 11:56 AM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Too bad a dollar is only worth 65cents of what it was worth 5 years ago. Uninterrupted printing presses craking out bank notes have consequences.

Google Zimbabwe inflation.
Maguyver

User ID: 808852
United States
03/08/2013 11:56 AM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
The FED has pumped nearly 2 TRILLION dollars into the economy over the last several years. That money isn't filtering into the economy via banks and loaning money like money creation is typically accomplished. Nope. That money has not gone to increasing manufacuring and construction, new houses or buildings.

It's gone into the stock market. The banks that are selling these 'bundled assets' to the FED and moving that money to the investment side of the house (they can do that now, you know, since Glass Stegall was repealed in 1999)and gamble with it in the markets. The volume and frequency of trades are driving the market. It has nothing to do with the underlying fundamentals.

This is the new normal. The Dow and Nasdaq are no longer bellweathers of the overall economy. The market now are just a sign of the health of your retirement account(at that moment...) and makes some day traders(yes, the banks do that, too) rich.

So now we are in between that rock and hard spot. Reinstate Glass-Stegall and those trillions get removed from the market and the banks have to find somewhere profitable to put that money and it ends up in the economy. What usually happens when the monetary base is increased by a third?

Inflation. It's the only way out on several levels.

Happy Friday!

cheers
Adversity is inevitable, misery is optional.

Do or do not. There is no try.

"The enemy will never attack where you are strongest...He will attack where you are weakest. If you do not know your weakest point, be certain, your enemy will." Sun Tzu
Woot Woot

User ID: 29998379
Canada
03/08/2013 11:57 AM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Check this out.....when the market was last at this level in 2007....

GDP Growth: Then +2.5%; Now +1.6%

Regular Gas Price: Then $2.75; Now $3.73

Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million

Americans On Food Stamps: Then 26.9 million; Now 47.69 million

Size of Fed's Balance Sheet: Then $0.89 trillion; Now $3.01 trillion

US Debt as a Percentage of GDP: Then ~38%; Now 74.2%

US Deficit (LTM): Then $97 billion; Now $975.6 billion

Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion

So, why should the market be up???

cheers
 Quoting: Maguyver


Smells like fiction to me.
Anonymous Coward
User ID: 35409491
United States
03/08/2013 12:02 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
And so they lived happily ever after.
Dapurps

User ID: 35646004
Canada
03/08/2013 12:05 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Too bad a dollar is only worth 65cents of what it was worth 5 years ago. Uninterrupted printing presses craking out bank notes have consequences.

Google Zimbabwe inflation.
 Quoting: Woot Woot


Zimbabwe currency wasn't used as the Petro dollar. Huge difference and the only reason the states is still standing.
"What you perceive to be becomes your reality."

:ftwpanda:

dapurps
Anonymous Coward (OP)
User ID: 8796927
United States
03/08/2013 12:08 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
I guess I'm using it to pay for the increased cost of food and fuel.

Whoopee!!!
 Quoting: chuckles 2417276


Yes you summed it up, I think they have conditioned the masses to belive what they tell them is the NEW NORM.
AR 15-SPECIALIST (OP)
ADMIT IT.....WERE FUCKED!!!

User ID: 8796927
United States
03/08/2013 12:10 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
The FED has pumped nearly 2 TRILLION dollars into the economy over the last several years. That money isn't filtering into the economy via banks and loaning money like money creation is typically accomplished. Nope. That money has not gone to increasing manufacuring and construction, new houses or buildings.

It's gone into the stock market. The banks that are selling these 'bundled assets' to the FED and moving that money to the investment side of the house (they can do that now, you know, since Glass Stegall was repealed in 1999)and gamble with it in the markets. The volume and frequency of trades are driving the market. It has nothing to do with the underlying fundamentals.

This is the new normal. The Dow and Nasdaq are no longer bellweathers of the overall economy. The market now are just a sign of the health of your retirement account(at that moment...) and makes some day traders(yes, the banks do that, too) rich.

So now we are in between that rock and hard spot. Reinstate Glass-Stegall and those trillions get removed from the market and the banks have to find somewhere profitable to put that money and it ends up in the economy. What usually happens when the monetary base is increased by a third?

Inflation. It's the only way out on several levels.

Happy Friday!

cheers
 Quoting: Maguyver



clappa
Maguyver

User ID: 808852
United States
03/08/2013 12:15 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Too bad a dollar is only worth 65cents of what it was worth 5 years ago. Uninterrupted printing presses craking out bank notes have consequences.

Google Zimbabwe inflation.
 Quoting: Woot Woot


Zimbabwe currency wasn't used as the Petro dollar. Huge difference and the only reason the states is still standing.
 Quoting: Dapurps


I believe this is (mostly) true. It's also one of the reasons we are able to keep interest rates at record lows, though that could have a bit to do with the FED buying bonds at record lows influencing the market.

Really, wrap your head aroung this: who in their right mind would buy a 30 year note at a rate below inflation when that issuer has nearly $17,000,000,000,000 current debt, not to mention other monetary obligations (read: SS, Medicare, welfare programs, etc).

Just the debt service alone could wipe out the federal budget if it went up to old normal levels of 5-6 percent, buch less Carter era of 12-18%.

Strange times we live in.

cheers
Adversity is inevitable, misery is optional.

Do or do not. There is no try.

"The enemy will never attack where you are strongest...He will attack where you are weakest. If you do not know your weakest point, be certain, your enemy will." Sun Tzu
Keneh

User ID: 30197356
United States
03/08/2013 12:16 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Who? not me!
Keneh
Anonymous Coward
User ID: 20014959
United States
03/08/2013 12:22 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
All the while 89 plus million are not working.
insertfunnyusername

User ID: 35611721
Greece
03/08/2013 01:38 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
chinalegit
Anonymous Coward
User ID: 15331549
Belgium
03/08/2013 01:45 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Moran needs to brush up on his Cons?

Flim-flam - Noun

flim-flam (plural flim-flams) (usually spelled flimflam.)

Misinformation; bunkum; false information presented as true.

confidence game, con game

A confidence trick is also known as a con game, a con, a scam, a grift, a hustle, a bunko (or bunco), a swindle, a flimflam, a gaffle or a bamboozle.

The intended victims are known as "marks" or "suckers", and when accomplices are employed, they are known as shills.

"Con games", "Scam", and "Stratagem (deception)".

A confidence trick is also known as a con game, a con, a scam, a grift, a hustle, a bunko (or bunco), a swindle, a flimflam, a gaffle or a bamboozle. The intended victims are known as "marks" or "suckers", and when accomplices are employed, they are known as shills.

A confidence trick (also known as a scam) is an attempt to defraud a person or group after first gaining their confidence. A confidence artist is an individual operating alone or in concert with others who exploits characteristics of the human psyche such as dishonesty, honesty, vanity, compassion, credulity, irresponsibility, naïveté, or greed.

Terminology

The perpetrator of a confidence trick is often referred to as a confidence (or "con") man, woman or artist, or a "grifter".

The first known usage of the term "confidence man" in English was in 1849 in New York City. It was used by the New York press during the trial of William Thompson. Thompson chatted with strangers until he asked if they had the confidence to lend him their watches, whereupon he would walk off with the watch. He was captured when a victim recognized him on the street.


bam·boo·zle (bm-bzl)
tr.v. bam·boo·zled, bam·boo·zling, bam·boo·zles Informal
To take in by elaborate methods of deceit; hoodwink. See Synonyms at deceive.

bam·boozle·ment n.
bam·boozler n.
-------------------------------------------------------------​-------------------
bamboozle [bæm'bu?z?l] vb (tr) Informal
1. to cheat; mislead
2. to confuse

bamboozler n
bamboozlement n

Thesaurus Legend: Synonyms Related Words Antonyms
Verb 1. bamboozle - conceal one's true motives from especially by elaborately feigning good intentions so as to gain an end.

lead by the nose, play false, pull the wool over someone's eyes, snow, hoodwink.

deceive, lead astray, betray - cause someone to believe an untruth.

-------------------------------------------------------------​-------------------
bamboozle, verb (Informal)

1. cheat, do (informal), kid (informal), skin (slang), trick, fool, take in (informal), con (informal), stiff, sting (informal), mislead, rip off (slang), thwart, deceive, fleece, hoax, defraud, dupe, beguile, gull (archaic), delude, swindle, stitch up (slang), victimize, hoodwink, double-cross (informal), diddle (informal), take for a ride (informal), do the dirty on (Brit. informal), bilk, pull a fast one on (informal), cozen He was bamboozled by con men.

2. puzzle, confuse, stump, baffle, bewilder, confound, perplex, mystify, befuddle, flummox, nonplus
-
beguile
bilk
bluff
bumfuzzle
canoodle
deceivable
deceive
deceiver
deceivingly
delude

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Top 10 Famous Con Artists list...
[link to listverse.com]

Street Cons
[link to money.howstuffworks.com]

Encyclopedia of Scams and Cons (Australia)
[link to scams.wikispaces.com]

William Chaloner
[link to en.wikipedia.org (secure)]

Thomas Dangerfield
[link to en.wikipedia.org (secure)]

William Sharington
[link to en.wikipedia.org (secure)]

Astafy Dolgopolov
[link to en.wikipedia.org (secure)]

Henri Lemoine
[link to en.wikipedia.org (secure)]

Danny Pang
[link to en.wikipedia.org (secure)]
Anonymous Coward
User ID: 6566790
Indonesia
03/08/2013 01:46 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
stock market up show that world trust in US economy outlook , unemployment rate down it means business developing.. very good
Anonymous Coward
User ID: 26178459
United States
03/08/2013 02:18 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Thank you my belgium friend. I now know the true definition of a con artist. Every word you wrote should tatooed as punishment on every sack of pig shit in office starting with that guy whos real name BARRY!!
Carol B.

User ID: 30598717
United States
03/08/2013 02:20 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
According to the Federal Reserve, household wealth amounted to $66.1 trillion at the end of 2012 and further gains in stock and house prices have allowed Americans to make up for the losses incurred during the recession.
 Quoting: AR 15-SPECIALIST



I just checked......

My savings and investments are back to pre-recession numbers.

FAIL


My home is worth the same amount pre-recession.

FAIL


My business profit is up to pre-recession number.

FAIL.
 Quoting: AR 15-SPECIALIST


My business has had the WORST year in 26 years of being incorporated.
Axslinger

User ID: 20593663
United States
03/08/2013 02:34 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
I wonder who the poor sucker that puts in the last dollar before it all collapses again, so everyone can loose the rest of what they don't have. Its a trick!
Maguyver

User ID: 808852
United States
03/08/2013 02:54 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
stock market up show that world trust in US economy outlook , unemployment rate down it means business developing.. very good
 Quoting: Anonymous Coward 6566790


Not so. The picture is being painted to LOOK just so. The underlying numbers do not back up any sort of progress toward an expanding and vibrant economy.

cheers
Adversity is inevitable, misery is optional.

Do or do not. There is no try.

"The enemy will never attack where you are strongest...He will attack where you are weakest. If you do not know your weakest point, be certain, your enemy will." Sun Tzu
Woot Woot

User ID: 29998379
Canada
03/08/2013 06:03 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
Too bad a dollar is only worth 65cents of what it was worth 5 years ago. Uninterrupted printing presses craking out bank notes have consequences.

Google Zimbabwe inflation.
 Quoting: Woot Woot


Zimbabwe currency wasn't used as the Petro dollar. Huge difference and the only reason the states is still standing.
 Quoting: Dapurps


Not for long ... the jigs up on the petrodollar scam. The BRICS are moving off it.

Everbody sitting on US toilet paper, is either trying to unload it quietly or trying to buy hard assets.

There is so much out there though, that disposing of it all is problematic without starting a stampede. Rest assured, when it goes, aint no stopping it.
Anonymous Coward
User ID: 23057782
United States
03/08/2013 06:10 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
According to the Federal Reserve, household wealth amounted to $66.1 trillion at the end of 2012 and further gains in stock and house prices have allowed Americans to make up for the losses incurred during the recession.
 Quoting: AR 15-SPECIALIST



I just checked......

My savings and investments are back to pre-recession numbers.

FAIL


My home is worth the same amount pre-recession.

FAIL


My business profit is up to pre-recession number.

FAIL.
 Quoting: AR 15-SPECIALIST


My business has had the WORST year in 26 years of being incorporated.
 Quoting: Carol B.


What business are you in?
machobird

User ID: 35756521
United States
03/08/2013 06:18 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
If you take inflation into account, the DOW would have to hit over 16,000 to be at 2007 levels. We are really being fed a lot of BS.

machobird

Check this out.....when the market was last at this level in 2007....

GDP Growth: Then +2.5%; Now +1.6%

Regular Gas Price: Then $2.75; Now $3.73

Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million

Americans On Food Stamps: Then 26.9 million; Now 47.69 million

Size of Fed's Balance Sheet: Then $0.89 trillion; Now $3.01 trillion

US Debt as a Percentage of GDP: Then ~38%; Now 74.2%

US Deficit (LTM): Then $97 billion; Now $975.6 billion

Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion

So, why should the market be up???

cheers
 Quoting: Maguyver
AR 15-SPECIALIST (OP)
ADMIT IT.....WERE FUCKED!!!

User ID: 8796927
United States
03/08/2013 08:17 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
bump
AR 15-SPECIALIST (OP)
ADMIT IT.....WERE FUCKED!!!

User ID: 8796927
United States
03/08/2013 08:17 PM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
5a
Carol B.

User ID: 30598717
United States
03/09/2013 09:44 AM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
According to the Federal Reserve, household wealth amounted to $66.1 trillion at the end of 2012 and further gains in stock and house prices have allowed Americans to make up for the losses incurred during the recession.
 Quoting: AR 15-SPECIALIST



I just checked......

My savings and investments are back to pre-recession numbers.

FAIL


My home is worth the same amount pre-recession.

FAIL


My business profit is up to pre-recession number.

FAIL.
 Quoting: AR 15-SPECIALIST


My business has had the WORST year in 26 years of being incorporated.
 Quoting: Carol B.


What business are you in?
 Quoting: ZAZZ Returns!


We design, build, and maintain recording studios.
allisaTX

User ID: 25379369
United States
03/09/2013 09:51 AM

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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
We didn't have very much, but in 2008 I just barely saw this coming and went to cash, but since then too afraid to get back in. Underwater on condo and in my late 50's and had to go into 401K to pay taxes last few years. So no I'm not feeling so great.
Anonymous Coward
User ID: 35764346
United States
03/09/2013 11:03 PM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
WTF!! TPTB are really trying to make the sheep believe that all is ok, after all the DOW is at an all time high...

What are you doing with your reclaimed wealth?


[link to news.msn.com]
 Quoting: AR 15-SPECIALIST




who needs wealth when they're neck deep in hell for all intents and purposes?

look around

this place is going to be dismantled brick by brick before your very eyes shortly

with much right and good reason in the doing

; )
Anonymous Coward
User ID: 23057782
United States
03/10/2013 12:39 AM
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Re: Mission Accomplished!! We have regained our wealth from the Great Recession!
...



I just checked......

My savings and investments are back to pre-recession numbers.

FAIL


My home is worth the same amount pre-recession.

FAIL


My business profit is up to pre-recession number.

FAIL.
 Quoting: AR 15-SPECIALIST


My business has had the WORST year in 26 years of being incorporated.
 Quoting: Carol B.


What business are you in?
 Quoting: ZAZZ Returns!


We design, build, and maintain recording studios.
 Quoting: Carol B.


I wonder if the evolution of music going digital is the real issue. You don't really need a recording studio for music anymore, you can do it on a laptop in a hone studio

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