Coming To A Desperate, Cash-Strapped Government Near You?

September 7, 2013

Let’s see that could be Spain, Portugal, Greece or India or Japan, actually any number of governments around the globe. Why it could even be the good ole USA. It could be any of many countries who have tried to spend their way out of this long, long depression but it was Poland –this time.

From Zero Hedge:  Poland Confiscates Half of Private Pension Funds to “Cut” Sovereign Debt Load.

US jobs numbers came out this yesterday and the unemployment rate dropped a tenth of a percent. Big whoop. Never mind the unemployment rate, the labor participation rate is at the lowest point in 35 years! As Rick Santelli says,

“these people are not buying cars, or houses they’re existing on entitlements or welfare, but you can’t hide them forever!”

Remember the promise of the stimulus package way back in Feb of 2009? Let us spend all this money ($787 Billion) and we’ll quickly jump-start the economy and save between 900,000 to 2.3 million jobs.

Between 2008-2010 there was Qualitative Easing (the Federal Reserve buying $800 billion in bank debt from its member banks)monopoly-money

and then QE2 (more of the same, which had the same effect as printing money; $600 billion this time)

and then Operation Twist in which the FED exchanged expiring short-term notes for long-term notes (kicking the can) and stepped up buying MBSs or mortgage-backed securities (more bad debt from banks)

and then QE3 in which the FED agreed to buy $40 billion in MBSs and $45 billion per month until either jobs improved substantially

and now QE4, just an extension of QW3 but only until unemployment dropped below 6.5% (todays number was 7.3%)

How far away is the United States from private pension confiscation? Why start a war? Because it’s a great distraction and it’s good for the economy.

Aloha, Mikie ~just a blogger (fightin’ like a girl)


World’s Largest Bond Fund Say “No More” to US Govt Debt

March 11, 2011

Basta, nada mas, enough already! According to the Daily Caller, Investment Management Company also known as Pimco, the world’s largest bond fund dropped all government related debt from their Total Return Fund last month. WHY?

It’s pretty simple, yields will be too low and they blame the Federal Reserves practice of printing money thereby making our currency worth less (soon to be worthless?). The Federal Reserve likes to call this practice “qualitative easing” (QE2), but it’s the same -printing money to allow the Fed to purchase financial assets and government bonds that nobody else wants.

This is yet another indication that we need to get the deficit and government spending under control –now! Oh, and another thing- it would be a good idea to severe the incestuous relationship between the FED and Goldman Sachs.

Aloha, Mikie

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