We live in a world of hyperbole
POSTED BY: SIGNYM
UPDATED: Wednesday, April 27, 2016 05:45
VIEWED: 2067
PAGE 1 of 1
And not that we live in a world where advertisers and scriptwriters regularly engage in hyperbole, but that the underlying facts of our current situation, if accurately described, would SOUND LIKE hyperbole.
Some of it goes like "the worst since 1970". Other parts of it go lie "the worst since the Great Depression". Still others reference "the worst since the Cretaceous Period".
The derivatives market - which is always priced in USD - is somewhere between six and twenty times the entire world GDP. Now, "derivatives" are nothing but bets on the future. Financiers who take out loans (in dollars) to play the derivatives market are placing their money (well - the banks'- really) on nothing fancier than a Las Vegas gambling table. There is -literally - no underlying value to these bets. No physical assets than can be acquired and sold if the bet fails, no revenue stream that can be attached ... no nothing. Liquidating the entire world wouldn't pay off these debts.
Banks are highly engaged in derivatives
Quote:http://www.occ.gov/topics/capital-markets/financial-markets/trading/de
Derivatives activity in the U.
S. banking system continues to be dominated by a small group of large financial institutions. Four large commercial banks represent 91.1% of the total banking industry notional amounts and 81.3% of industry NCCE.
rivatives/dq215.pdf
Gee, which banks would those be?
They're the usual suspects: Goldman Sachs, Citigroup, JPMChase, Bank of America, and Morgan Stanley: http://www.ibanknet.com/scripts/callreports/filist.aspx?type=derivativ
es
According to this same institution [Office of the Comptroller of the Currency] JPMChase is woefully underfunded. Not only that, but it is also highly interlinked with other institutions
Quote:http://wallstreetonparade.com/2016/04/the-fed-sends-a-frightening-lett
At the top of page 11, the Federal regulators reveal that they have “identified a deficiency” in JPMorgan’s wind-down plan which if not properly addressed could “pose serious adverse effects to the financial stability of the United States."
er-to-jpmorgan-and-corporate-media-yawns/
Wow, hyperbole from the Office of the Comptroller of the Currency! And this is WITH Dodd-Frank.
The wealth gap is greater than it's been since the Great Depression
The most prominent reason why I predicted the Great Meltdown of 2008 was because of the wealth gap. Two-thirds of Americans can't raise $400 - the cost of a shadetree mechanic's car repair- without selling items or borrowing from family members. That hasn't been solved since 2008, in fact, it's only gotten worse. It has already impoverished a great number of Americans, and will inevitably lead to another Great Meltdown.
The United States has been losing industrial market share since 1950 and has sharply decline since 2001, when China was included into the WTO by GWB.
Share of World GDP
Percent of manufacturing jobs
The United States has been in a state of continuous overseas warfare since 2003 and has over 1000 military installations across the globe. Making friends and influencing people since 2003! I guess "blowback" isn't a term that the CIA/State and the Pentagon are familiar with. Significantly, NATO (i.e. the USA) has been pushing the boundaries of the next-greatest nuclear power - Russia- by aggressively expanding right up to the borders, and abrogating the ABM treaty that Reagan signed. It's not good to play nuclear chicken.
Global climate shift isn't coming, it's already here. And not only have we done nothing to slow it down, we haven't even prepared for it.
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Glad I don't have kids.
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No shit!
--------------
You can't build a nation with bombs. You can't create a society with guns.
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Anyway, what's so bad about an occasional hyperbole? 
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I laughed so hard, tears ran down my legs!
Altho, quite honestly, my reaction to marijuana is awful. I can't take the stuff.
--------------
You can't build a nation with bombs. You can't create a society with guns.
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Quote:
Originally posted by SIGNYM:
I laughed so hard, tears ran down my legs!
Altho, quite honestly, my reaction to marijuana is awful. I can't take the stuff.
--------------
You can't build a nation with bombs. You can't create a society with guns.
:)
In case you missed it in one of my threads that everyone avoids like the plague, I'll just remind you of what it was like to live in the 70's and actually enjoy yourself without trying to make a point or placating to anyone...
2 years before I was born...
What I wouldn't give to be in a society that didn't frown upon smoking weed moderately, while it's perfectly okay to binge drink and smoke horrible things...
I thank South Park for reminding me of this song....
My grams only listened to "The Light" back in the 80's and that was what anybody under 50 today would consider "Elevator Music"...
I just loved this song, and South Park made a joke about it and if you look at any thread of this song, I bet you find a lot of people saying "South Park broght me here" and quite a few thanking South Park for bringing them there.
I know I'm a bad influence, but really, Even the BEST of Moms and Dads out there should at least watch South Park even if they don't enjoy it...
At least you'd have a chance at even knowing what you should be against, assuming you were watching real-time and not waiting a year for Netflix to put out old eps :)
Do Right, Be Right. :)
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Fuck it....
I miss the awesomeness of the 90s before Colombine and Middle East shit....
I can't even imagine what the male brain post that is filled with....
I look into Your Eyes...
You're so Beautiful...... BEAUTIFULLLL!!!!!
Do Right, Be Right. :)
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Because I AM NOT the answer...
Do Right, Be Right. :)
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Not my fault a bunch of Youtube Bitches won't allow their shit to be said by me....
Fuck em...
I was going to promote them, but the only song I'm feeling right now was 25 years ago...
"Meet Me Half Way"....
Probably one of the most beautiful songs ever made.
Follow it if you're bored and have nowhere else to go...
Do Right, Be Right. :)
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Happy 4/20! 
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Quote:
Originally posted by SIGNYM:
And not that we live in a world where advertisers and scriptwriters regularly engage in hyperbole, but that the underlying facts of our current situation, if accurately described, would SOUND LIKE hyperbole.
Some of it goes like "the worst since 1970". Other parts of it go lie "the worst since the Great Depression". Still others reference "the worst since the Cretaceous Period".
The derivatives market - which is always priced in USD - is somewhere between six and twenty times the entire world GDP. Now, "derivatives" are nothing but bets on the future. Financiers who take out loans (in dollars) to play the derivatives market are placing their money (well - the banks'- really) on nothing fancier than a Las Vegas gambling table. There is -literally - no underlying value to these bets. No physical assets than can be acquired and sold if the bet fails, no revenue stream that can be attached ... no nothing. Liquidating the entire world wouldn't pay off these debts.
Banks are highly engaged in derivativesQuote:http://www.occ.gov/topics/capital-markets/financial-markets/trading/de
Derivatives activity in the U.
S. banking system continues to be dominated by a small group of large financial institutions. Four large commercial banks represent 91.1% of the total banking industry notional amounts and 81.3% of industry NCCE.
rivatives/dq215.pdf
Gee, which banks would those be?
They're the usual suspects: Goldman Sachs, Citigroup, JPMChase, Bank of America, and Morgan Stanley: http://www.ibanknet.com/scripts/callreports/filist.aspx?type=derivativ
es
According to this same institution [Office of the Comptroller of the Currency] JPMChase is woefully underfunded. Not only that, but it is also highly interlinked with other institutionsQuote:http://wallstreetonparade.com/2016/04/the-fed-sends-a-frightening-lett
At the top of page 11, the Federal regulators reveal that they have “identified a deficiency” in JPMorgan’s wind-down plan which if not properly addressed could “pose serious adverse effects to the financial stability of the United States."
er-to-jpmorgan-and-corporate-media-yawns/
Wow, hyperbole from the Office of the Comptroller of the Currency! And this is WITH Dodd-Frank.
The wealth gap is greater than it's been since the Great Depression
The most prominent reason why I predicted the Great Meltdown of 2008 was because of the wealth gap. Two-thirds of Americans can't raise $400 - the cost of a shadetree mechanic's car repair- without selling items or borrowing from family members. That hasn't been solved since 2008, in fact, it's only gotten worse. It has already impoverished a great number of Americans, and will inevitably lead to another Great Meltdown.
The United States has been losing industrial market share since 1950 and has sharply decline since 2001, when China was included into the WTO by GWB.
Share of World GDP
Quote:
Percent of manufacturing jobs
The United States has been in a state of continuous overseas warfare since 2003 and has over 1000 military installations across the globe. Making friends and influencing people since 2003! I guess "blowback" isn't a term that the CIA/State and the Pentagon are familiar with. Significantly, NATO (i.e. the USA) has been pushing the boundaries of the next-greatest nuclear power - Russia- by aggressively expanding right up to the borders, and abrogating the ABM treaty that Reagan signed. It's not good to play nuclear chicken.
Global climate shift isn't coming, it's already here. And not only have we done nothing to slow it down, we haven't even prepared for it.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME