F Dominicus Blog

A politically incorrect blog about matters of money, government, bureaucracy, freedom and sometimes something else.

November 2010 - Posts

Newest EU attack on your purse
Just imagine all EU countries have collected more debts than ever in history. Greece has manipulated data to be part of this system. And what did we do we sanctioned their doing. Now imagine, I'm stealing your money, we go to court and you have to learn. Well yes I had all the rights to betray you. What would you think about such kind of system? Now the Irish want to get another 85 Billion from us. It was one of the soundest systems before the governement decided to "fail" out their banks, I can not see who has put some pistol on their chest saying. "you must keep your banks afloat". Well you know the argument "there was/is/willnever be a choice. That simply is a lie. The money for Greece was illegal, there were (and btw. still are laws) which forbid this kind of "credits". So the choice with Greek was. "Doing nothing". The choice for the Irish government was "doing nothing". And in both cases this would have been the better choice. It surely would have signaled to everyone. "you can earn as much money as you like, but you can loose as much as easily". Now the signal is to every bank or corporation. "Grow as large as possible don't put any considerations ons sustainability. If it comes bad, you can held a whole country as hostage.". What do you think would stop the death-spriral?
Blackout argument
We have no choice....
And here we go again
Not it's Ireland. Who's next? The Fiat-money system strikes back again. So let's burn some more money. It must help, someday if it does not yet, than the conclusion just can be: "We have not burned enough money". Well first they burn books, then money, then people.... We just can hope that we burn the right people this time. If not well we have not tried hard enough let's burn some more people. So let's to got war.... After there are quite many killed, well maybe peace is not such a bad idea. Unfortunatly we have nothing to bear the costs of the bureaucrats. So let's see who has survived and something of value left. Let's them bleed through taxes, let's give them some other colorful paper, and place the rest of armed forces in front of their houses to assure that governement will work. Then let's take a few credits, let's start burning money again....
GM an epic failure
Well either it's me who's not getting it or something is really weird. So let's put some figures in here. The IPO has reached around 24 Billion (sorry have not found better figures) the government has spend 50 Billions on GM before and around 100 Billion were "outsourced" to a bad GM "bank". Now if we assume the figures about the earnings are right, than we are talking about 3.5 Billion earnings. Now let's calculate 100 + 50 = 150 150 - 24(* 0.61) = 126 Billion losses left for the tax payer. Let us assume GM would pay back 2.5 Billions each year than it would just take around 40 years to pay back all the money from the government ... I can not see how this can be seen as a big success for the tax payers. So if anyone has another explanation, or can point out my miscalculations. Please do so. Otherwise I've to conclude, the government is even a worse market player than one ever could imagine. I can just see one winner in here, the management of GM, I guess they will earn a few millions this year because of such a "successful" year. Maybe it's not just me. Just read the comments at: http://finance.yahoo.com/news/First-day-trading-of-GM-apf-2339978096.html?x=0&sec=topStories&pos=5&asset=&ccode=#mwpphu-container
Again a Failout Plan
Well they name it euphemistic "safety chute" and they simple ignore laws they themselves have decided. Last year it was Greece, this year it's going to be Ireland. Well the Irish have lived beyond any means and have obviously had a way too high "growth" rate in the paste. However the most depressign figure is that that have new debts of nearly one third of their complete balance. Now Europe will again throw out money, we do not have for problems based on too easy money. An examplary Ponzi Scheme this time the defrauders control themselves and will held every single European citizen as hostage. I guess you can imagine how angry I am.. Regards Friedrich
A thing I re-read today
Sometimes I'm looking over my other blog, and this is what I found today: http://fdominicus.blogspot.com/2008/09/watch-closely-what-candidates-do.html That's now 2 years ago and so actual... Why can't the deledefs suprise me positively?
Economig knowledge a scarce thing?
I wonder who can follow: http://finance.yahoo.com/tech-ticker/the-3-reasons-bernanke-can%27t-win-535601.html?tickers=^UDN,^GSPC Bernanke does the same as Greenspun had did, flooding the markets with money. Well let me ask if http://fdominicus.blogspot.com/2008/10/fundamenls-misunderstood.html How should one interprete the following sentence: "This is monetary policy, not something vital to the future of the world, like, say, who gets kicked off "Dancing with the Stars." " Irony? Sarcasm? Well, if you just read on you read this "Since very few people in Washington have his back -- Democrats distrust him because he was appointed by Bush, and Republicans distrust him because he was reappointed by Obama -- the mean girls and guys feel free to lob spitballs at him every time he gets up to speak." You can see the author means this literally. It's unbelivable that this should be true: "Daniel Gross is economics editor at Yahoo! Finance." He does not get one thing straight. And even more unberable: "Bernanke engaged in plenty of unorthodox activities -- taking short-term interest rates to close to zero," Just imagine monetary policy is unimportant but in the same arguments he points out what Bernanke has all done. Well if that all is so unimportant why should Bernanke do anything? Why does he even write a sentence about Bernankes actions? Monetary policy is important and the most important goal of any monetary policy must be to have stable money. he does not even think that, that this is important. So it's as saying air is not imporant. I guess we should give him a few hours in a cheese cover. If he survives, than I admit my error. Air than is unimportant, if we have to get him out of the cover and he surives than he may have to admit that AIR is important. More than one big inflation has shown, there are much more loosers than gainers. And it always has shown also. Those having done responsible will have to pay for he others, and a new round of blood-sucking starts. We are surely in a blood bath, and Bernanke has started it. Well irony get's a new meaning, this is what I found a Mr Greeenspun has to say: http://www.ft.com/cms/s/0/b6e3d086-ed12-11df-9912-00144feab49a.html#axzz15KXx2tQN
I wrote about it more than once
well the economic knowledge of Obama and his Gang is near non existant. Even before the US citizens have voted for Obama I have written, that he does not have an economic expert knowledge. If you can find my writing about it here: http://fdominicus.blogspot.com/2008/10/keep-this-on-record.html And he shows this gapping hole again. If he really has said that Germany profits from the "open" US markets. Well then I've some extra news about it for Obama. The German market is (at least for cars) as open as the US market, but people do not buy american cars. And they have good reasons. I bet the Americans also have good reasons to wish for german cars. If that will get more expensive, who will gain from it than? The other gap is that Obama really seems to believe that introducinb barriers to free trade will do any part anything good. It's as if you'd say alcohol is good for alcoholics. I warned you before it all I warn you again. If the Fed and governement do not start striving for sound money, you will all get really poor. You than just can hope to have enough land to grow your own food. If that is what you want just follow Obame. He'll manage to look this times as heaven on earth....
Safe Investements?
It seems putting money on diverse coporations can hardly be seen as "safe" investment. GM will initiate another IPO, just with the advantage that given promises (pensions plans) are now guranteeed by the "governement". And here in Germany we have sunk around 18 billons in the Commerzbank and there it's unsure that tha intereste payments will be done. So much about the lies that we'll get our money back.....
Shadows of black
well usually the world is neither white nor black. Now it's quite different in current politics. Ok agree the Republican have won. So what? They have also voted for all the diverse Bailout plans, especially the first one which was used to sunk 780 Billion Dollars without any effect and without any control. I wrote about it two years ago see. e.g http://fdominicus.blogspot.com/2008/11/obama-silver-bullet.html Or just look around that blog for a while. The big problem is unsustainability an as it's name implies there is not constant unsustainable growth possible. Fact is without proper saving, investing does not work. And the repulican have not a slightest better record on wasting money. I've kept this: http://fdominicus.blogspot.com/2008/10/keep-this-on-record.html and it's obvious that they just were in panic mode. I expect that with all their resources at their hand, that they realize what has been the problem. Nearly none of them has. And so we do not have even grey we just have shadows of black.
What I wish Obama and his Gang
especially Bernanke and not to forgot Geithner and last but not least expert Krugman. That they have to suffer under their own decisions. Guess Obama on Medicare or the like. Wouldn't it be wonderful? Well that will not happen. If the retire they will with something above 10000-20000 Dollar each month. And if Obama follows the "presidential" path, he well charge you without beeing ashamed a bit 50000 US-Dollar for each speack. Where he will "describe" the world, and enough big money holders will be stupid enough to hire them. Another interesting finding would be to find the children of them in the public schools. Have you ever dared to ask where the childrens of this "highly respected" persons are going? Or can you imagine an president waiting a few hours till a doctor comes looking after them? Or even simpler, can you imagine anyone from the family having to shop themselves? I bet if the Obamos go shopping the whole warehouse is closed down, a few dozen bodyguards and policemen will stand in the front of that house and "inspect" everyone entering that warehouse. One even can imageine a descreet question to the secret services about the sales-persons. This is really "comfortable", they live in a shell. Which has not much to do with reality of anyone else. Then one surely can talk about great visions and even better so because you know whom to give the invoice. Yes, we need of course this and that and because of "whatever" we have to higher this tax so much, have an extra fee for that. Indeed you are really stupid to be a criminal better you be a politician. It will be more profitable and you get admiration and bootlickers and if you live out your sexual desires you just have to look like a sausage dog and tell how terrible sorry you are and the people are goony enough to say. Oh this poor little president, let's vote for him again. Do you feel I'm mad about our Deledefs?
They simply do not get it.
The big troubles with our current "Politicians "is that they feel, that just given enough political influence all things will turn out good. This is a big mistake. The most urgent problem is to give people confidence that they itself can manage their future. Currently they messages are only, if you trust us we'll help you. Instead of. "Dear people, we're sorry but some of you have messed up miserably. We see the problems but will refrain from anything about it, and we are sorry that we inflicted political guide lines on you which have turned out to be unsustainable.. We see our errors and will correct them, and stop putting "political correct" laws an you. We just will start looking for one but one thing. Stable money..... " This would be honest and "helpful". But what they do is just saying. "Well we messed up and put you in misery, so give us more power to help you out this misery. surrender to us, we know what we're doing"..... Feel the difference. The base for the GFC is not too less political "messing-around"