Coming Financial Crisis Worse Than ’29?

[white is right]

This could be the beginning of a big bearish slide.....http://www.theglobeandmail.com/globe-investor/markets-plunge-on-recession-fears/article2175548/

 

[Colonel_Reb]

This could be the beginning of a big bearish slide.....http://www.theglobeandmail.com/globe-investor/markets-plunge-on-recession-fears/article2175548/

Dennis Gartman, who is referenced in that article, is full of crap about gold unless he's talking specifically about very short term investing and he doesn't appear to be doing so. Gold has performed way better than the stock market over the past few years.

 

[Independent]

Tax rates are pretty low comparatively over the course of the last century, actually.

 

[jaxvid]

Tax rates are pretty low comparatively over the course of the last century, actually.

You're smoking crack. If you use FedGov data you only account for income tax. How about the increases in:


(a partial list)
Accounts Receivable Tax
Building Permit Tax
Capital Gains Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Drivers License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest Expense (tax on the money)
Inventory Tax I
RS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Recreational Vehicle Tax
Road Toll Booth Taxes
Road Usage Taxes (truckers)
Sales Taxes
School Tax
Septic Permit Tax
Service Charge Taxes
Social Security Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Federal Universal Service Fee Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Toll Bridge Taxes Toll
Tunnel Taxes
Trailer Registration
Tax Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers’ Compensation Tax

 

[Westside]

You're smoking crack. If you use FedGov data you only account for income tax. How about the increases in:


(a partial list)
Accounts Receivable Tax
Building Permit Tax
Capital Gains Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Drivers License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest Expense (tax on the money)
Inventory Tax I
RS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Recreational Vehicle Tax
Road Toll Booth Taxes
Road Usage Taxes (truckers)
Sales Taxes
School Tax
Septic Permit Tax
Service Charge Taxes
Social Security Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Federal Universal Service Fee Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Toll Bridge Taxes Toll
Tunnel Taxes
Trailer Registration
Tax Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers’ Compensation Tax

Jaxvid, that is quite an impressive compilation of the various taxes assessed on us. Something tells me you had this list compiled and laid in wait for an uninformed poster, then take out his knees by calling him a illicit narcotic user. LOL Just kidding.

 

[Colonel_Reb]

Independent is definitely in need of some enlightenment on several issues. I'm glad to see him hanging around, because that means he'll have a greater chance of learning more.

 

[white is right]

You're smoking crack. If you use FedGov data you only account for income tax. How about the increases in:


(a partial list)
Accounts Receivable Tax
Building Permit Tax
Capital Gains Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Drivers License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest Expense (tax on the money)
Inventory Tax I
RS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Recreational Vehicle Tax
Road Toll Booth Taxes
Road Usage Taxes (truckers)
Sales Taxes
School Tax
Septic Permit Tax
Service Charge Taxes
Social Security Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Federal Universal Service Fee Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Toll Bridge Taxes Toll
Tunnel Taxes
Trailer Registration
Tax Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers’ Compensation Tax

User fees are the sneaky tax increases that governments do to the general public. Even the most bullheaded politician knows that raising the income tax rate is political suicide, so these user fees get the job done in a round about way...:thumbdown:

 

[DixieDestroyer]

Traders dump investments as market slides (by design)....

http://www.cnbc.com/id/44626413

 

[Highlander]

"Governments Don't Rule the World, Goldman Sachs Does"

Slimeball but honest trader interviewed by BBC says markets to completely crash. Tells audience to "get prepared".

http://www.youtube.com/watch?v=aC19fEqR5bA&feature=email

 

[werewolf]

If the talking heads are on the zhidovision telling the suckers that the market's going to crash it probably means they're fixing it to go up to new highs.

 

[Michael]

An article entitled " Formerly Middle-Class Americans Move into Tents"

It’s amazing the suffering that goes on in this miserable economy, and how little attention it gets in the American press. The article posted below about middle-aged, formerly middle class people living in tents in New Jersey with cold weather coming on appeared in a British newspaper.

Even so, Washington continues to admit a million legal immigrant workers annually. Why is there no time-out on legal immigration while so many citizens are jobless and running out of savings, unemployment insurance and other resources? The best we have gotten out of the Republican House of Representatives is a flawed e-verify bill crafted to please the Chamber of Commerce.

Massive job loss is worsening as economic pundits forecast a double-dip recession, while the few jobs that are available are given to cheap and exploitable foreigners. Americans are getting hosed by open borders, and nobody will name the enemy, specifically a federal government addicted to open borders and disinterested in the well-being of American citizens.

http://www.vdare.com/posts/formerly-middle-class-americans-move-into-tents

 

[white is right]

An article entitled " Formerly Middle-Class Americans Move into Tents"





http://www.vdare.com/posts/formerly-middle-class-americans-move-into-tents

In the Great Depression tent cities were called Hoovervilles. I also recall seeing on a documentary that in an earlier depression Central Park had a zoo and the city sold off some of the bigger animals as they feared that the poor people camped in the park would hunt and kill the animals.

 

[Quiet Speed]

You know it’s bad in Greece when little old ladies and dogs take action.

[video=youtube;8IsVsTGCo68]http://www.youtube.com/watch?v=8IsVsTGCo68[/video]

 

[DixieDestroyer]

Extreme poverty now at record levels....

http://www.infowars.com/extreme-pov...ut-the-poor-that-will-absolutely-astound-you/

 

[DixieDestroyer]

Survival shops report a big jump in sales...

http://stlouis.cbslocal.com/2011/11...es-to-people-preparing-for-possible-collapse/

 

[white is right]

The underclass seem to love to kill each other for worthless baubles on Black Friday. Sinbad and Arnold fighting for a worthless action figure seems cute in comparison.http://www.bbc.co.uk/news/world-us-canada-15879139

 

[Tom Iron]

American Airlines filed Chapter 11 this morning. God help those people.

Tom Iron...

 

[Michael]

An article entitled "FED bails out US banks AGAIN!"

The big US banks have bought lots of bad debt from Europe. Instead of being told to deal with their own problem, the FED is going to bail them out again! Meanwhile, bankers who commit large acts of fraud are given inconsequential fines or never prosecuted.

China recently EXECUTED two bankers engaged in fraud.

Between 2007 and April 2010, the FED dished out $1.2 Trillion in public money to dozens of banks. This includes foreign bank. All five of Canada’s top five banks got this bailout money. The banks continued to behave in the exact same way, and now they want more money.

http://cofcc.org/2011/12/fed-bails-out-us-banks-again/

 

[white is right]

Granted this is Detroit but doesn't a house owned by Diana Ross have more value than this?http://ca.news.yahoo.com/blogs/sideshow/mother-six-trades-98k-house-used-minivan-152424777.html

 

[Quiet Speed]

Obama to Seek $1.2 Trillion Increase in U.S. Debt Limit Dec. 30

By Cheyenne Hopkins
Dec. 27 (Bloomberg) -- The Obama administration will ask Congress to increase federal borrowing authority by $1.2 trillion as the nation approaches the debt limit set by law, according to a Treasury Department official...

 

[Colonel_Reb]

Obama to Seek $1.2 Trillion Increase in U.S. Debt Limit Dec. 30

Pump up the limit! Pump up the limit! :high5::cheer2:

Seriously, as long as we have a country that is run by and largely full of people who "just want what is supposed to be theirs" these increases will continue. Still, I am hopeful that things like this will help wake up a few people with eyes to see and ears to hear.

 

[Colonel_Reb]

Here's an update on a story jaxvid mentioned a few weeks ago. Jackson and Conyers are two of the most ignorant race hustling negroes out there.

http://www.msnbc.msn.com/id/45798809/ns/us_news-life/#.TvpJyXr4LDw

Michigan a step closer to Detroit takeover

DETROIT — Heading down a path that could lead to the state of Michigan taking over the running of Detroit, Gov. Rick Snyder on Tuesday appointed a team to review the city's finances.

The team was named after a preliminary review of city finances showed "probable financial stress" after Detroit was unable to tackle its mounting deficits.

The team, which includes State Treasurer Andy Dillon and other local officials, has 60 days to complete its work. The formal review was announced last week.

The appointments are the next step in the review process, which is driven by expectations that Detroit will run out of cash by April.

"Given urgent and time-sensitive financial issues facing Detroit and the need to ensure critical services continue to be provided to city residents, the next step simply necessitates the appointment of a financial review team," Snyder said in a statement.

The formal review could have various results. If a financial emergency is declared to exist, the governor would have to decide on an emergency manager. But if the stress levels are considered mild, the current city management could carry on.

Detroit Mayor Dave Bing has said he will cooperate with the review process but says his budgets are the remedy to the city's financial crisis.
Advertise | AdChoices

Last Thursday, the Rev. Jesse Jackson and U.S. Rep. John Conyers, D-Mich., joined religious and civil rights leaders to promise protests and possible civil disobedience against Michigan's new emergency manager law that could lead to a takeover of Detroit government.

"We are prepared to go from education, mobilization, litigation, legislation, demonstration and civil disobedience," Jackson said as he and others held a news conference at Detroit's Bethany Baptist Church.

"We want a positive commitment to restoring democracy and economic justice for all citizens." Jackson said.

Snyder has called for Bing and Detroit's City Council to come up with their own financial rescue plan so Michigan can stay out of the city's business.

But Snyder has also highlighted what he said was the seriousness of the city's money problems, citing Bing's statement that Detroit could run use up its available cash in April.

"We can't let the city run out of money," Snyder said. Besides Detroit's cash-flow problem is a long-term structural deficit that needs a fundamental solution, he said. "Detroit's been in a financial crisis of some kind for decades."

The Detroit Public Schools and the cities of Flint, Pontiac and Benton Harbor already have state-appointed emergency financial managers.

Michigan recently enacted a law expanding the state's power to push aside elected local government and school officials whose agencies get in financial trouble.

Conyers said the expanded law is "seriously flawed" and said it unfairly targets communities with large numbers of minority group members.

Jackson, a Chicago-based activist, said emergency managers are like dictators with the power to override local democracy, discard union contracts and cut vital public services. He said he is seeking U.S. Justice Department intervention.

Detroit, with a population of 714,000, has faced hard times with auto industry contraction and falling revenue. More than 36 percent of its residents are below the poverty line, according to the Census Bureau.

The city was once one of the most populated in the United States. But it lost 25 percent of its residents between 2000 and 2010, the fastest decline for any municipality with more than 100,000 residents besides New Orleans.

 

[Kaptain]

Obama to Seek $1.2 Trillion Increase in U.S. Debt Limit Dec. 30

Ron Paul addressed this in a speech last night. Apparently a deal had been struck by the super committee and the President that allows the debt limit to increase 15 days after requested unless stopped by an act of Congress. Those 15 days are taking place while congress is on Christmas Holiday. Shades of the 1913 Federal Reserve Act. The debt limit will automatically increase without a vote.

 

[Michael]

An article entitled "“The Spectre of 1932″"

This is a very well thought out and interesting mainstream media article prognosticating that 2012 might well see a collapse of the economies of both Europe and the United States, leading to widespread civil unrest, the fall of multiracial democracy, and the rise of fascism and National Socialism. Pay especially close attention to the tone of the comments section. Add your own comment to educate the hundreds of other readers of this article than balkanization will lead to the breakup of America into smaller, racially based nations…and that isn’t a bad thing.

http://whiterevolution.com/?p=3070

 

[Michael]

An article entitled "Small Business: Doctors going broke"

http://finance.yahoo.com/news/small-business-doctors-going-broke-101200127.html