Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: rich evans who wrote (106520)	1/15/2010 12:53:08 PM
From: Skeeter Bug	1 Recommendation Read Replies (2) of 116555

the simplest way to look at it is money is debt - so track debt. total US debt (all sources) is flat to declining. why? one can do the math - add up the debt backed money put into the economy and subtract the defaulted debt. one problem is that we don't know the true level of defaulted debt - the banks won't tell us (mark to myth) and the their trash can (the fed) isn't telling, either. so debt is probably declining much faster than this chart indicates. market-ticker.denninger.net QE may skew this simple analysis a bit. imho, bernanke is a thief hiding behind complex equations. society treats a failed academic quite a bit different than a treasonous criminal and bernanke knows this. he isn't stupid (SAT 1599 - he's just better than us in his mind, a privileged elite). he saw the bubble. he saw the fraud. he knew of the 2004 fbi reports of blatant mortgage fraud. he knew of the analysis that said only 10% of stated income mortgage people were telling the truth and more than half were over stating by 50%. he knew the bush government sued NY to prevent them from making "ability to repay" a requirement for a loan. he knew that debt was growing way faster than GDP and that this was mathematically unsustainable and housing would eventually crash. market-ticker.denninger.net i think the data that made this chart comes from the fed itself! the bankers knew it, too. they lie about it today, but their bankruptcy reform in 2005 - just a year before housing started down - was no accident. they knew the defaults were coming and wanted to make sure the serfs couldn't stick them with as much of the bill. he know all this and no academic theory prevented him from acting. the criminal greed of his masters did, though. every time. without fail. this isn't a mistake, IT IS CRIMINAL FRAUD by bernanke's employers. he's just their front man who spouts propaganda to deflect attention away from the systemic crimes against humanity committed by his masters. apparently, he's very good at what he does given he's fooled many very smart people. i do wonder how much of this is willful - perhaps realizing that a criminal syndicate is in full control of government is too much for some to deal with on an emotional level.

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