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The Big Lie: “By mid decade we will be taking in as much as we are spending”
Beck shows by Professor O’Barry’s own budget that we will NEVER be at the point where we only spend what we take in. We will always run a deficit and by 2021 it will be increasing again.
Ya know, Bernie Madoff went to jail for this kind of stuff.
Bernie Madoff went to jail for running a Private Fund model after Social Security.
Only the government is allowed to operate Pyramid Schemes
Get your money out of the banks now. You will see riots in this country in about 6 months.
I hate to tell you, but if the country collapses to the point where the banks, all banks not just some, are unsafe and done for, your money will be worthless. So keeping it in a bank, or under your mattress will not matter, unless you need some kindling to start a fire, that is about all it will be good for
Rise in price of cotton and garments. First, it’s unlikely that the Brooks Bro Shirt is actually a cotton blend (or I’m wrong and it’s an extremely fine cotton, though I suspect it’s linen), second, the $88 pricetag has the 6% dollar depreciation built in, so Glenn double dipped to exaggerate the point.
But the point is salient and resonant, we should not expect anything else than inflation when we expand the money base. So congrats on the obvious Glenn. Rest of MSM, shame on you for not just ignoring, but defying the obvious.
The most obvious inflation showed up in Gold almost concurrent with the ongoing expansion of the money base. Circa 2001 there was under $800B in circulation, there’s now almost $3T (including the vaguely stated reinvestment of $600B of maturing treasuries that was buried in the Fed’s Press Release for QEII). In the same period, Gold went from $372 to over $1300. If you match the ratios, Gold would be projected at $1324 an ounce. Throw in a 5% premium for safe harbor in a time of market and political uncertainty and you get, tada, $1375 an ounce. Conclusion, Gold is NOT in a bubble, it’s just a short frame trailing indicator to profligate printing of our fiat currency. That makes Gold a pretty safe investment (or hedge against dollar depreciation).
Side note, this is how Obama will keep his promise not to tax families making less than $250K. $250K will become the poverty line. The old middle class will be the new poor and downtrodden. The old poor… G_d save us!
I wish Glenn and the previous commentators here are all wrong. I also wish I could fly like superman. Unfortunately, wishing doesn’t make either so.
In the past, when countries were ruining themselves, people could come to the United States for a chance at a better future. But as our country gets ruined, where can U.S. citizens take their families?
We have to stop the insanity and restore our great country. Now.
“where can U.S. citizens take their families”
There’s Canada, which gave the socialist Liberals the boot while the US allowed a leg tingle to entice them into an experiment in socialism. Harper’s cleaned up corruption while shoring up equitable free markets. You can see it in the dollar-to-dollar ratio over the past 4 years. If they can shed their Universal Healthcare boondoggle that imposes more debt per citizen than the US, those beer drinking canucks will end up in pretty good shape while the US drowns future generations in the electoral beer fountain.
Classic typical Obama…wolf in sheep’s clothing socialist tactic sounds like a conservative act like a liberal.
How many good points can Glenn make in one show? We are in this up to our neck, folks and Congress is fighting about who is gonna rearrange the deck chairs on the Titanic as the bow slips under the water. All our lifeboats are gone and we’re not even up to the boat deck yet. That life jacket you’re wearing is only going to prolong the death process.
Nice Titanic analogy. You should add that the ones who made the mess and prolong it by further breaching the hull have their seats on the lifeboats bought and paid for.
‘Made the mess’ ??
You mean deliberately steered the ship into an Iceberg?
‘Prolong it by further breeching the hull’ ??
Uhh, when you ‘further breech the hull’ you HASTEN the effect; not prolong it.
‘Seats on the lifeboats bought and paid for’ ??
Fat lot of good it will do – they’ll be stuck in the middle of the icy Atlantic with no one coming to save them.
“when you ‘further breech the hull’ you HASTEN the effect; not prolong it.”
Whatever, I don’t the first thing about sinking ships, so whether it prolongs or hastens the agony, I’ll have to take your word for it.
“they’ll be stuck in the middle of the icy Atlantic with no one coming to save them”
I was suggesting that they were evil and devious, not necessarily smart.
The episode is unavailable….
It seems to be working fine now. You might give it another try.
Time to plant some orange trees I think.
why isnt he talking about how horrible it is for an average home to cost a quarter of a million dollars when the average income is 49K. When you factor in interest on the mortgage that home will cost 700,000+ to a family taking in only 32K after all the taxes.
Reagan and the elite who put him into power are responsible for starting all this borrowing. The Republican who gets in to office in 2 years will explode the deficits to greater levels than Obama.