The Fed Is About To Make The Global Recession Much Worse

The 7th largest economy on the entire planet, Brazil, has been gripped by a horrifying recession, as has much of the rest of South America.  But it isn’t just South America that is experiencing a very serious economic downturn.  We have just learned that Japan (the third largest economy in the world) has lapsed into recession.  So has Canada.  So has Russia.  The dominoes are starting to fall, and it looks like the global economic crisis that has already started is going to accelerate as we head into the end of the year.  At this point, global trade is already down about 8.4 percent for the year, and last week the Baltic Dry Shipping Index plummeted to a brand new all-time record low.  Unfortunately for all of us, the Federal Reserve is about to do something that will make this global economic slowdown even worse.

Throughout 2015, the U.S. dollar has been getting stronger.  That sounds like good news, but the truth is that it is not.  When the last financial crisis ended, emerging markets went on a debt binge unlike anything we have ever seen before.  But much of that debt was denominated in U.S. dollars, and now this is creating a massive problem.  As the U.S. dollar has risen, the prices that many of these emerging markets are getting for the commodities that they export have been declining.  Meanwhile, it is taking much more of their own local currencies to pay back and service all of the debts that they have accumulated.  Similar conditions contributed to the Latin American debt crisis of the 1980s, the Asian currency crisis of the 1990s and the global financial crisis of 2008 and 2009.

Many Americans may be wondering when “the next economic crisis” will arrive, but nobody in Brazil is asking that question.  Thanks to the rising U.S. dollar, Brazil has already plunged into a very deep recession

As Brazilian president Dilma Rousseff combats a slumping economy and corruption accusations, the country’s inflation surged above 10 percent while unemployment jumped to 7.9 percent, according to the latest official data. The dour state of affairs has Barclays forecasting a 4 percent economic contraction this year, followed by 3.3 percent shrinkage next year, the investment bank said in a research note last week.

The political and economic turmoil has recently driven the real, Brazil’s currency, to multiyear lows, a factor helping to stoke price pressures.

And as I mentioned above, Brazil is far from alone.  This is something that is happening all over the planet, and the process appears to be accelerating.  One of the places where this often first shows up is in the trade numbers.  The following comes from an article that was just posted by Zero Hedge

This market is looking like a disaster and the rates are a reflection of that,” warns one of the world’s largest shipbrokers, but while The Baltic Dry Freight Index gets all the headlines –having collapsed to all-time record lows this week – it is the spefics below that headline that are truly terrifying. At a time of typical seasonal strength for freight and thus global trade around the world, Reuters reports that spot rates for transporting containers from Asia to Northern Europe have crashed a stunning 70% in the last 3 weeks alone. This almost unprecedented divergence from seasonality has only occurred at this scale once before… 2008! “It is looking scary for the market and it doesn’t look like there is going to be any life in the market in the near term.”

Many “experts” seem mystified by all of this, but the explanation is very simple.

For years, global economic growth was fueled by cheap U.S. dollars.  But since the end of QE, the U.S. dollar has been surging, and according to Bloomberg it just hit a 12 year high…

The dollar traded near a seven-month high against the euro before the release of minutes of the Federal Reserve’s October meeting, when policy makers signaled the potential for an interest-rate increase this year.

A trade-weighted gauge of the greenback is at the highest in 12 years as Fed Chair Janet Yellen and other policy makers have made numerous pronouncements in the past month that it may be appropriate to boost rates from near zero at its Dec. 15-16 gathering. The probability the central bank will act next month has risen to 66 percent from 50 percent odds at the end of October.

But even though the wonks at the Federal Reserve supposedly know the damage that a strong dollar is already doing to the global economy, they seem poised to make things even worse by raising interest rates in December

Most Federal Reserve policymakers agreed last month that the economy “could well” be strong enough in December to withstand the Fed’s first Interest rate hike in nearly a decade, according to minutes of its meeting Oct. 27-28.

The officials said global troubles had eased and a delay could increase market uncertainty and undermine confidence in the economy.

The meeting summary provides the clearest evidence yet that a majority of Fed policymakers are leaning toward raising the central bank’s benchmark rate next month, assuming the economy continues to progress.

Considering the tremendous amount of damage that has already been done to the global economy, this is one of the stupidest things that they could possibly do.

But it looks like they are going to do it anyway.

It has been said that those that refuse to learn from history are doomed to repeat it.

And right now so many of the exact same patterns that we saw just before the great financial crisis of 2008 are playing out once again right in front of our eyes.

A lot of people out there seem to assume that once we got past the September/October time frame that we were officially out of “the danger zone”.

But that is not true at all.

The truth is that we have already entered a new global economic downturn that is rapidly accelerating, and the financial shaking that we witnessed in August was just a foreshock of what is coming next.

Let us hope that common sense prevails and the Fed chooses not to raise interest rates at their next meeting.

Because if they do, it will just make the global crisis that is now emerging much, much worse.

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About the Author: The Economic Collapse Blog

  • Aaron Ruter

    In your own words describing Republicans, you sound like one of them. From a left-ish perspective, I really have to question if you are a liberal at all. You are clearly filled with a lot of anger. It will tell me a lot as to whether or not you’re serious about what you believe if you could post 5-10 responses on these boards without calling someone names. Could you do that?

  • JohnDille

    I ATTACK IDIOTS AND RIGHT WINGERS… THE SAME THING, REALLY!!! IF ANYONE WITH ANY INTELLIGENCE AND WISDOM AT ALL WANTS TO DISCUSS THINGS, I WOULD BE GLAD TO OBLIGE THEM. BUT ON A RIGHT WING BOARD, THERE ARE FEW… IF ANY LIBERALS. AND MOST OF THE INTELLIGENT AND WISE AND COMPASSIONATE PEOPLE IN AMERICA ARE LIBERALS!!! MOST OTHER FOLKS… OVERWHELMINGLY CONSERVATIVE… RIGHT WING… REPUBLICANS… REALLY AND TRULY ARE IDIOTS. OR AT THE VERY LEAST… BRAIN WASHED PUPPETS!!! TELL THEM ESTABLISHED FACTS… AND THEY EITHER TOTALLY IGNORE YOUR ESTABLISHED FACTS… OR THEY ATTACK THEM VICIOUSLY!!! DON’T BELIEVE IT??? TRY IT SOME TIME… LOOK UP SOME WELL ESTABLISHED HARD FACTS THAT SHOW JUST HOW WRONG REPUBLICANS ARE ABOUT ALMOST EVERYTHING… AND THROW THOSE FACTS OUT ON ALMOST ANY RIGHT WING BOARD IN AMERICA…. EASY TO FIND, BECAUSE RIGHT WINGERS APPARENTLY HAVE NOTHING TO DO ALL DAY EXCEPT WAIT FOR THEIR WELFARE CHECKS AND FOOD STAMPS… AND THROW OUT THEIR REDICULOUS BELIEFS AND OPINIONS AND PHONY FACTS ALL OVER THE INTERENT…. AND YOUR ESTABLISHED FACTS WILL BE VICIOUSLY ATTACKED… OR TOTALLY IGNORED!!! TRY IT… IF YOU HAVE THE GUTS TO DO THAT!!!OU WILL NEED SOME COURAGE, BECAUSE RIGHT WINGERS ARE TOALLY VICIOUS AND FILLED WIT BLIND HATE TOWARDS ANY REAL AMERICAN OR ANY REAL HUMAN BEING WHO MIGHT DARE TO CHALLENGE THOSE HATE FILLED RIGHT WINGERS!!! HECK… JUST LOOK AT THE RIGHT WING GARBAGE THAT GETS SPEWED ALL OVER THIS BOARD… AND THIS BOARD IS MILD COMPARED TO MOST RIGHT WING DOMINATED BOARDS!!!

  • Aaron Ruter

    I think we’ve come to an understanding. You’re in the attacking game. That’s very different than a discussion.Thanks for the conversation.

  • JohnDille

    I ATTACK IDIOTS OF ANY POLITICAL PERSUASION… BUT THE MOST OUTRAGEOUS IDIOTS ARE ALMOST UNIVERSALLY RIGHT WINGERS… A GROUP WHICH IS MOSTLY MADE UP OF REPUBLICANS!! AND THERE IS NO INTENTIONAL HYPERBOLE THERE, AT ALL!!!

  • Aaron Ruter

    Thanks, John. Are you using hyperboles while you’re speaking to me? Sorry that I have to ask, but you keep going back and forth between “hyperboles” and name-calling. Unfortunately, it looks like you attack both right-wingers and left-wingers. I’m not sure whose side you’re on.

  • JohnDille

    PEOPLE WHO KEEP POSTING… OVER AND OVER AND OVER AND OVER AND OVER AGAIN… ATTACKING WHAT WAS CLEARLY STANDARD HYPERBOLE… HAVE MUCH MORE SERIOUS PROBLEMS THAN WHATEVER THEIR POLITICAL PERSUASIONS ARE!!! PERHAPS YOU SHOULD VISIT A SHRINK, AND TALK TO HIM ABOUT YOUR OBSESSIVE COMPULSIONS. MENTALLY SOUND ADULTS WOULD MAKE THEIR POINT… THEN MOVE ON TO SOMETHING LESS CHILDISH!!!

  • Aaron Ruter

    John,

    I disagree with almost everything you just said. Does that make me a liar? If so, then you probably shouldn’t claim to go about these discussions in a civilized manner. I am not a right winger and you have, unfortunately, made me (us) look bad.
    You can’t even admit to making a mistake. I asked you a simple question and you haven’t been able to answer. Did you or did you not make a false claim that right wingers don’t get through the 4th grade? Friend, I think we can go a long way if you’ll just own up to this. But when you say that right wingers are idiots, racists, fascists, etc. and you call people names like you’re in grade school, then, yes, as a liberal i get a little ashamed knowing you and I might have the same viewpoints. I’ve tried to speak decently with you but you’re not willing to have a civilized discussion. But I’d rather hear it from you, will you accept (from another liberal) that you’re not being civilized when you make these comments?
    I never once said anyone should roll over and play dead, I did say that we should not make the same mistakes we accuses others of and you’re doing that

  • JohnDille

    Hold on, this is waiting to be approved by The Trading Report. WELL… GEE… I GUESS I JUST PROVED MY POINT… AGAIN… SPEAK WITH ANY HONESTY ON THIS BOARD… AND YOU WILL BE CENSORED!!!

    LOOK THROUGH THE OFTEN LONG LONG LONG LISTS OF COMMENTS ON THIS BOARD… AND ON THE SEVERAL OTHER BOARDS I OFTEN POST ON. IF YOU LOOK CLOSELY, YOU WILL REALIZE THAT A LARGE PORTION OF THOSE COMMENTS ARE PERSONAL ATTACKS AGAINST ME AND LIBERALS IN GENERAL… AND THOSE ATTACKS MAKE MY HYPERBOLE LOOK MILD AND TAME AND TOTALLY CIVILIZED. TO SAY THAT MANY RIGHT WING COMMENTERS ARE BLTANTLY RACIST AND TOTALLY HATE FILLED IS ABSOLUTELY NO EXAGERATION. SO… YOU ARE SAYING WE LIBERALS SHOUD JUST ROLL OVER AND PLAY DEAD… LIKE RIGHT WINGERS WANT US TO! SHOULD BLACK PEOPLE JUST ROLL OVER AND PLAY DEAD…. LIKE RIGHT WINGERS WANT THEM TO???? BECAUSE THE VICIOUS ATTACKS BY RIGHT WINGERS AGAINST LIBERALS ONLY INCREASE WHEN WE LIBERALS TRY… AS I OFTEN DO… QUITE HARD TO BE FACTUAL AND LOGICAL! AND WHAT DO LIBERAL FACTS AND LOGIC GET US…. NEVER, EVER, EVER A CIVILIZED LOGICAL RESPONSE… ONLY VISCIOUS ATTACKS AND EVER MORE RIGHT WING EXTREMIST AND HATE FILLED AND CONTEMPTOUS ATTACKS AGAINST US. AND IF YOU CAN DENY ANYTHING THAT I HAVE JUST SAID, THEN YOU ARE LOOKING AT THIS WHOLE MATTER IN A VERY ONE SIDED AND TOTALLY BIASED WAY… BECAUSE THE REASON I SPEAK OUT SO FORCEFULLY AGAINST RIGHT WINGERS IS… RIGHT WINGERS ARE HATE FUILLED AND DISRESPECTFUL OF EVERYTHING I HOLD DEAR. RIGHT WINGERS ARE FASCISTS, PURE AND SIMPLE, AND I DO NOT WANT AMERICA TO BECOME ANOTHER …CENSORED… STYLE GERMANY… LIKE IT CLEARLY IS RAPIDLY BECOMING. NOW.. THIS COMMENT IS LIKELY TO BE HEAVILY CENSORED… SO I WILL BE VERY SURPRISED IF YOU GET TO READ IT!!! BUT IF YOU DO, YOU WILL BE BEING VERY DISHONEST IF YOU DISAGREE WITH ANYTHING I HAVE SAID!!!

  • Aaron Ruter

    “I cannot post solid facts.” You just admitted to posting something that wasn’t a fact and was entirely unsupported. Are you saying that because certain people don’t “allow” you to post facts and because they’re not interested in the truth you have the right to stretch or exaggerate reality just to make a point? Don’t throw rocks at people and do exactly what they do. You’re making us democratic folks look bad.
    John, you’re assuming that the majority of what you said (other than you’re hyperbolic exaggeration) is truth AND that I’m in total disagreement of it. From one democratic perspective to another, please stop. I’m focusing one thing that you said and pointing out that, if you want to be heard, maybe you should be consistent and back up your accusations with your own example. However, in this case you shot yourself in the foot. I have viewpoints that most people disagree with, but is it my job to change their mind? It’s very possible to disagree with someone and have a respect for their position and how they landed on that position. But when you rant, call people names and disagree with everyone just to be spiteful what do you think you accomplish?

  • Joe Cabot

    Your economic theories are perfect. For you. I would rather enjoy financial success.

  • JohnDille

    LOOK UP THE DEFINITION OF PSYCHOPATH… AND YOU WILL DISCOVER THAT MY COMMENT IS QUITE ACCURATE… AS ARE MY ECONOMY BASED COMMENTS!!!

  • JohnDille

    OBVIOUSLY, YOU PAY LITTLE ATTENTION TO THE HATE FILLED AND HIGHLY OFFENSIVE COMMENTS THAT RIGHT WINGERS THROW AT WE LIBERALS… BY THE TON! NOT POINTING THAT OUT IS… RATHER HYPOCRITICAL OF YOU, DONT YOU THINK??? ON TOP OF THAT… WHY WOULD YOU CHOOSE TO NATTER AT MY OBVIOUS HYPERBOLE….AND TOTALLY IGNORE THE FACTS OR GENERALIZATIONS OF HARD FACTS THAT I NORMALLY INCLUDE IN MY RANTS??? RATHER INTELLECTUALLY DISHONEST OF YOU, WOULD YOU SAY??? IT MAKES IT LOOK LIKE YOU ARE DIMPLY DIVERTING ATTENTION AWAY FROM THE SUBSTANCE OF WHAT I HAVE TO SAY… BY DRAWING ATTENTION TO TRIVIAL STUFF! THAT IS ALSO A CLASSIC RIGHT WING TACTIC, AS YOU SURELY KNOW. AND FINALLY… ON TOP OF ALL THAT… I CANNOT POST SOLID FACTS AND SOLID ARGUMENTS ON THIS SITE… OR THEY WILL BE CENSORED AND BLOCKED. THAT HAPPENS CONSTANTLY, AND AS I HAVE NOTED A NUMBER OF TIMES, I AM SICK OF IT!!! RIGHT WINGERS CAN ATTACK ME WITH THEIR CHILDISH INSULTS… BUT I AM NOT ALLOWED TO FIGHT BACK WITH FACTS AND LOGIC! NOW… THAT TYPIFIES THE KIND OF RIGHT WING SYSTEM THAT CORPORATE FASCISTS ARE CRAMMING DOWN OUR THROATS HERE IN AMERICA!!! AND FASCISM IS THE MORTAL ENEMY OF EVERY TRUE LIBERAL… AND OF EVERY REAL AMERICAN!!!

  • Aaron Ruter

    John,
    Remember my comments earlier about how you call so many people different, offensive names without knowing at all who they are or how they vote?
    How do you think I voted last year? It seems like I’ve pointed out to you that your comments are inconsistent and because of that I’m now a right-wing conservative? You and I can agree on things and we could have a decent conversation about some of these matters and I think you’d find that we’re in agreement on things. But when you accuse people of NEVER listening to facts and then go and back and blast others using a totally made-up statistic…well, it’s a bit hypocritical.

  • JohnDille

    WELL… I GUESS IF YOU WANT TO INSIST ON CHANGING THE SUBJECT SO THAT YOU CAN AVOID HAVING TO REFUTE THE HARD FACTS THAT MADE UP 95% OF MY ORIGINAL COMMENTARY….. REPUBLICAN STATES ARE NOTORIOUS FOR POOR EDUCATIONAL SYSTEMS, AND FOR HAVING LARGE NUMBERS OF POORLY EDUCATED CITIZENS… WHICH EXPLAINS WHY THEY VOTE FOR REPUBLICANS, OBVIOUSLY. SO… IS IT TRUE THAT ALL REPUBLICANS DROPPED OUT OF SCHOOL IN THE FOURTH GRADE??? ALMOST CERTAINLY NOT… BUT IT SURE SEEMS LIKE IT TO ANY HALF WAY WELL EDUCATED AMERICAN…. ANY LIBERAL, IN OTHER WORDS!!! THERE NOW… YOU HAVE SUCCESSFULLY DEFLECTED THE ORIGINAL ARGUMENT… LIKE ALL GOOD RIGHT WINGS CONSTANTLY AND REFLEXIVELY DO!!! YOUR RIGHT WING MASTERS WOULD BE SO PROUD OF YOU!!!

  • Aaron Ruter

    No, my original comment was about your comment that right wingers don’t finish the fourth grade. So we’re clear then, and all I’m trying to do is make sure we have an understanding, what you said wasn’t an actual fact, right? All of us speak out of emotions at times so I’m not throwing rocks, but you claim that folks from the right wing don’t focus on facts. So, I’m asking you, was that comment based on facts? Could you give me a yes or no answer?

  • JohnDille

    FOR YEARS… RIGHT WINGERS HAVE BEEN BASHING THE FED FOR KEEPING THE ECONOMY FAIRLY STRONG BY KEEPING INTEREST RATES LOW. SO… NOW… THE FED IS TALKING ABOUT RAISING RATES… AND RIGHT WINGERS ARE WHINING ABOUT THE EFFECT OF RAISING THOSE RATES!!! WHICH IS IT, RIGHT WINGERS… SHOULD THE FED RAISE RATES AND TANK THE WORLD ECONOMY… OR SHOULD THE FEDS KEEP INTEREST RATES LOW… AND SAVE ORDINARY AMERICANS ABOUT 2 TRILLION DOLLARS A YEAR IN LOWER INTEREST COSTS??? MUCH TO THE CONSTERNATION OF RICH RIGHT WINGERS, THE FED HAS BEEN DOING THE LATTER!!! OF COURSE, THE IMPACT OF THE FED ON INTEREST RATES IS REALLY QUITE MINIMAL… THE FED REALLY FOLLOWS THE BOND MARKETS… NOT THE OTHER WAY AROUND!
    WHAT PART OF THE MONEY SUPPLY ARE YOU REFERING TO??? M1 OR M2 OR M3 OR M4 OR M5… AND PROBABLY MORE BEYOND THAT. THE WORLD IS AWASH IN MONEY… AND HUGE AMOUNTS OF IT ARE FLOWING INTO THE UNITED STATES BECAUSE ITS ONE OF THE FEW HEALTHY ECONOMIES IN THE WORLD RIGHT NOW… AND FOR THE LAST 5 OR 6 YEARS. DANG OBAMA!!! THE LIQUIDITY THAT THE FED HAS PUT INTO THE SYSTEM IS TRIVIAL COMPARED TO THE MORE THAN 300 TRILLION IN FINANCIAL ASSETS THAT EXIST AROUND THE WORLD! IF THE FEDS POLICIES ARE SO BAD… THEN WHY IS TENS OF TRILLIONS OF DOLLARS FLOWING INTO THE UNITED STATES… TO TAKE ADVANTAGE OF THE OPPORTUNITES FOR THE RICH IN THIS COUNTRY AND AROUND THE WORLD…. AND TO AVOID ALL THE PROBLEMS INHERENT IN INVESTING ELSEWHERE IN THE WORLD! AND WHERE IS ALL THE INFLATION THAT YOU RIGHT WINGERS HAVE BEEN WARNING ABOUT FOR YEARS… AND WHERE IS THE FINANCIAL COLLAPSE THAT YOU RIGHT WINGERS HAVE BEEN WARNING ABOUT, EVER SINCE OBAMA TOOK OFFICE??? OH.. YEAH… INFLATION AND FINANCIAL COLLAPSE HAPPENS MOSTLY WHILE REPUBLICANS ARE IN CHARGE OF THINGS… AND THAT DANG OBAMA JUST WILL NOT COOPERATE WITH THE REPUBLICAN DESIRE TO DESTROY AMERICA AND IMPOVERISH AMERICAN WORKERS AND THEIR FAMILIES!!! I GUESS RIGHT WINGERS ARE JUST AMERICA HATERS… WISHING AND HOPING FOR THAT DANG OBAMA… AND THE FED… TO FINALLY… AFTER ALL THESE YEARS… TO SCREW UP SO THAT RIGHT WINGERS CAN PROCLAIM… WE TOLD YOU SO!!! OF COURSE… EVENTUALLY… SOMEDAY… RIGHT WINGERS WILL BE RIGHT. MOST LIKELY THE NEXT TIME A REPUBLICAN INHABITS THE WHITE HOUSE AND REPUBLICANS CONTROL ONE OR BOTH HOUSES OF CONGRESS, AS WELL.
    THERE NOW… I HAVE JUST REPEATED WHAT I ACTUALLY SAID… YOU SEEM TO HAVE FORGOTTEN WHAT THE ACTUAL ORIGINAL COMMENTARY WAS!!! YOU WOULD NOT WANT ME TO THINK THAT YOU ARE TRYING TO CHANGE THE SUBJECT BY FOCUSSING ON SOME TRIVIAL THROWAWAY COMMENT DEROGATORY OF RIGHT WINGERS… TRUE IN SPIRIT IF NOT IN ACTUAL FACT… THOUGH IT SURELY WAS!

  • JohnDille

    Last night, five protesters sustained serious gunshot wounds after a group of alleged white supremacists opened fire on an encampment of Black Lives Matter (BLM) protesters in Minneapolis. It is being reported that for several nights white supremacists have shown up in bulletproof vests to threaten and taunt protesters, with no response from local police.

    It is crucial that we call on the Department of Justice to investigate the shooting as a hate crime and to investigate the Minneapolis Police Department’s negligent response to the threats and shooting. Activists have repeatedly called on Attorney General Loretta Lynch to investigate similar crimes, but during her tenure she hasn’t done enough.3 We must demand that President Barack Obama intervene.

    Click here to demand President Obama do more to address white terrorism, starting with telling Attorney General Lynch to do her job and investigate the Minneapolis Police Department and this latest act of violence as a hate crime.

    Minneapolis police have failed to take seriously and address the violent threats that white supremacists have made against Black Lives Matter protesters, including last night’s shooting. Last week, police brutally killed 24-year-old Jamar Clark. Eye-witnesses say police “shot him execution-style.” Since the day Jamar was killed, Black Lives Matter protesters have camped outside the 4th precinct police station demanding officials release all video of the killing. Instead of releasing the videos, police have ramped up their violence against protesters, pepper spraying and unjustly arresting peaceful activists.Over the past few days, white supremacists have begun visiting the encampment and threatening protesters, while police did nothing. Last night, a group of white men in masks approached the encampment and there was a scuffle. Protesters peacefully escorted the men out of the encampment when suddenly the men began to open fire.

    There is a long history of police departments with ties to the KKK and other white supremacist groups. The violent and neglectful response of the Minneapolis police force toward protesters supports the reality that there is deeply-rooted white supremacy within the department. Recently, the FBI released a warning on this very issue, revealing a growing number of white supremacists infiltrating police departments across the country. Minneapolis residents have even exposed the current police union president’s participation in racist activity and white supremacist organizations.

    While our nation and our President have directed their full attention to terrorism happening overseas, we are turning a blind eye to the racist terrorism that is playing out in our own backyards. President Obama must insist that Attorney General Lynch and the Department of Justice combat white supremacy within our country and police departments before even more violence harms our communities. Minneapolis police are incapable of protecting peaceful demonstrators from the violence of their own department and white supremacist vigilantes.

  • Aaron Ruter

    ok, so could you send me something that would have influenced you to make the comment that right wingers drop out at or after 4th grade? Could you copy and paste a section for me? I would just like to see what you’re saying….

  • Joe Cabot

    Dude, now you are making up definitions of words? I thought that making up economic theories was your strong suit.

  • JohnDille

    THE HALL MARK OF A PSYCHOPATH IS… THAT THEY FEEL NO GUILT OVER ANYTHING THEY HAVE DONE! HMMM… JOE CABOT THE PSYCHOPATH… OR JUST ANOTHER RIGHT WINGER! SAME THING I GUESS!!!

  • Joe Cabot

    No guilt about anything in my life. Prudent decisions lead to a clear conscience.

  • JohnDille

    YOU WOULD DO MUCH BETTER GOING RIGHT TO THE SAME SOURCES I FREQUENTLY MAKE USE OF… THE BEA… THE IRS… THE LABOR DEPARTMENT… THE FED… AND ON AND ON. THEY ALL HAVE DATA THAT WOULD TAKE YOU MONTHS TO DOWNLOAD, AND YEARS TO STUDY… JUST AS IT HAS TAKEN ME YEARS TO UNDERSTAND ALL OF THOSE COMPLEX AND VAST SETS OF DATA!!! BUT.. AT LEAST ONCE YOU DID THAT… AND STOP WASTING YOUR TIME READING RIGHT WING COMIC BOOKS AND THE WATCHING THE ELECTRONIC VERSION OF THE NATIONAL EQUIRER… AKA FOX NEWS…, YOU MIGHT BECOME AN EDUCATED HUMAN BEING… AND MAYBE… JUST MAYBE.. A REAL HONEST TO GOD LIBERAL WHO ACTUALLY KNOWS WHAT HE IS TALKING ABOUT… SORT OF LIKE ME!!!

  • JohnDille

    ALL THAT SORT OF STUFF IS BETWEEN YOU AND GOD AND THE TAX MAN! BUT FROM THE SOUNDS OF IT… YOU HAVE TINY TWINGES OF CONSCIENCE EVERY ONCE IN AWHILE, AND YOU FEEL GUILTY… OCCASSIONALLY… ABOUT BEING SUCH A SELF CENTERED RIGHT WING JERK!

  • Aaron Ruter

    Hey John,
    Thanks for responding. So, is that your answer to my question? Yes, it is true? If so, could you send me some data confirming this as fact? I’m not asking for much. I just want to see some sources.

  • Joe Cabot

    So you really don’t know if I make any donations to charitable organizations. Thanks for admitting that you are just guessing. Kinda like you do when you constantly tell me that I am stealing from clients and employees while never providing any proof.

  • JohnDille

    A SELF CENTERED RIGHT WINGER LIKE YOU… GIVING ANYTHING AT ALL… EXCEPT GRIEF… TO LOW INCOME AND OTHER DESPERATE PEOPLE??? YOU… HELPING PEOPLE WHO ARE IN TOUGH SHAPE BECAUSE THEY COULD NOT TAKE RESPONSIBILITY FOR WHATEVER SITUATION FORCED THEM INTO POVERTY OR DISABILITY OR WHATEVER OTHER TOUGH BREAK PUT THEM ON THE BOTTOM… INSTEAD OF UP AT THE TOP WITH THE LIKES OF YOU!!! YOU ARE CLEARLY THE KIND OF GUY WHO WOULD WALK BY A HOMELESS VET WHO LOST HIS LEGS IN COMBAT… AND YOU WOULD TELL THE GUY… MAN UP… GET A JOB… TAKE RESPONSIBILITY FOR YOUR SELF!!! SO… NO… THE ONLY CONTRIBUTIONS YOU ARE LIKELY TO MAKE… ARE TO THE CHURCH OF JOE CABOT… THE ONLY BENEFICIARY OF WHICH IS… JOE CABOT!!! AND JOE CABOT NO DOUBT WOULD USE THOSE CONTRIBUTED MONIES TO BUY HIMSELF MORE MIRRORS IN WHICH TO ADMIRE HIMSELF IN!!! PRETTY SAD… AND ITS ALL A PICTURE OF YOU THAT YOU YOURSELF HAVE PAINTED!

  • Joe Cabot

    Well, since you don’t know me, how do you know that I don’t already give to charitable organizations?

  • JohnDille

    When we join together, when we work together, we have power to change even the largest and most irresponsible retailers, like Walmart.

    So, today we are officially launching a series of holiday actions against Walmart; beginning with a call to action during the week leading up to Black Friday. We’re calling it our “Give Back Friday” initiative.

    Give Back Friday is all about helping the hundreds of thousands of hard-working Walmart employees who are paid so poorly they rely on assistance from food banks and food stamps.

    Working together, we can help these Walmart workers and their families. By giving back, by standing together, we can help where Walmart refuses.

    TAKE THE PLEDGE TO HELP US FEED 100,000 WALMART WORKERS AND FAMILIES

    During this entire Black Friday week, Making Change at Walmart, our progressive partners, along with the UFCW and countless of other organizations, will be hosting food drives in cities across the country the week leading up to Black Friday.

    Our goal is to feed 100,000 Walmart workers and families though the holidays.

    Can you help us by pledging to donate to a food drive or a food bank in your area?
    THERE NOW… JUST ONE LITTLE THING YOU COULD DO WHILE STARING AT YOUR SELF ADMIRINGLY IN ONE OF YOUR MANY MIRRORS! OF COURSE, THAT IS IF YOU ARE WILLING TO TAKE RESPONSIBILITY FOR SOMETHING BESIDES YOURSELF JUST ONCE IN YOUR LIFE!

  • Joe Cabot

    Why would anyone think of someone else when they are looking in a mirror? After all, isn’t it the idea of a mirror to look at oneself?

  • JohnDille

    YOU ARE SURELY RIGHT…. YOU THINK OF NO ONE BUT YOURSELF WHEN YOU LOOK IN YOUR MIRROR… PROBABLY ALMOST NON STOP… EXCEPT WHEN YOU ARE BAD MOUTHING OTHER PEOPLE FOR NOT TAKING RESPONSIBILITY FOR THINGS THEY HAVE NO CONTROL OVER!!! THATS THE SORT OF THING EGOTISTICAL SELF CENTERED PEOPLE DO… WHEN THEY ARE NOT BUSY ADMIRING THEMSELVES IN THEIR MANY MIRRORS!!!

  • JohnDille

    SO… YOU ARE ADMITTING THAT ALL MY OTHER POINTS ARE TRUE… THAT REPUBLICANS ARE DESTROYING THE US ECONOMIC SYSTEM, AND TRYING TO IMPOSE A CORPORATE FASCISM ON AMERICA??? BECAUSE OTHERWISE, YOU WOULD BE TALKING ABOUT ALL THOSE OTHER POINTS… AND NOT OBSESSING OVER MY HYPERBOLIC THROWAWAY LINE ABOUT RIGHT WINGERS BEING 4TH GRADE DROP OUTS! WHICH IS SURELY TRUE, BY THE WAY… AT LEAST BASED ON RIGHT WINGERS LACK OF ANY INTELLIGENCE WHATSOEVER!!!

  • Joe Cabot

    Hey, you think that I’m the best at something! That is great! Oh, and I don’t think of you when I look in the mirror.

  • Aaron Ruter

    I just told you what you said that is not back by anything: “Most right wingers dropped out after fourth grade.” John, one thing. Please answer me so we have an understanding going forward. Is that statement true?

  • JohnDille

    JUST BECAUSE YOU ARE SO TOTALLY SELF CENTERED AND ARROGANT DOES NOT MEAN THAT EVERYONE ELSE IS. IN FACT… YOU ARE BY FAR THE MOST SELF CENTERED AND EGOCENTRIC MORON I HAVE EVER… EVER… EVER RUN ACROSS… AND I HAVE KNOWN A LOT OF EGOTISTICAL JERKS IN MY LIFE. ITS ALL ABOUT YOU, YOU, YOU… AND ONLY YOU… BECAUSE YOU ARE MORALLY AND INTELLECTUALLY INCAPABLE OF EVEN REALIZING THAT YOU ARE NOT THE ONLY SIGNIFICANT ENTITY ON THIS PLANET!!! STOP THINKING OF ME WHEN YOU LOOK IN THE MIRROR 24 HOURS A DA, AND WE WILL BOTH BE BETTER OFF… BECAUSE THEN YOU CAN STOP PROJECTING YOUR ARROGANCE AND SELF CENTEREDNESS AND SELFISHNESS ONTO ME! I AM NOT YOU… AND WOULD NOT WANT TO BE! YOUR ARROGANCE AND SELF CENTEREDNESS ARE A SEVERE FORM OF MENTAL ILLNESS, AND YOU REALLY SHOULD HAVE IT TREATED… IF THAT IS EVEN POSSIBLE!!! I SUSPECT MOST SHRINKS WOULD JUST THROW UP THEIRHANDS AND GIVE UP ON YOU AFTER A COUPLE HUNDRED SESSIONS!!!

  • Joe Cabot

    They are all about you. Except for the part where you seek to avoid accountability and where you blame everyone else.

  • JohnDille

    YOU ARE SO SELF ABSORBED THAT I CANNOT GET IT THROUGH YOUR THICK SKULL THAT MY COMMENTS ABOUT MY OWN HARD TIMES IN LIFE WERE NOT ABOUT ME… AT ALL… JUST MY ATTEMPT TO GET YOU TO SEE THAT MOST PEOPLE STRUGGLE THROUGH LIFE. BUT NO…. YOU ARE SO SELF ABSORBED THAT ALL YOU CAN SEE IS YOURSELF… ALL YOU CAN THINK OF IS YOURSELF… ALL YOU KNOW ANYTHING ABOUT IS YOURSELF. PATHETIC!!

  • Joe Cabot

    You are right about one thing: I do know a lot about myself. Hard not to since I have known myself almost the entirety of my life. But I also know plenty about you, as does anyone who has spent any time on these forums. You have spent months/years droning on about how your miserable life in the poor house is the fault of everyone but you.

  • JohnDille

    WHAT WOULD YOU KNOW ABOUT THE REAL WORLD… GOOD OR BAD… THEORETICAL OR GRIM AND GRIMY REALITY. YOU ARE SO SELF ABSORBED THAT I CANNOT GET IT THROUGH YOUR THICK SKULL THAT MY COMMENTS ABOUT MY OWN HARD TIMES IN LIFE WERE NOT ABOUT ME… AT ALL… JUST MY ATTEMPT TO GET YOU TO SEE THAT MOST PEOPLE STRUGGLE THROUGH LIFE. BUT NO…. YOU ARE SO SELF ABSORBED THAT ALL YOU CAN SEE IS YOURSELF… ALL YOU CAN THINK OF IS YOURSELF… ALL YOU KNOW ANYTHING ABOUT IS YOURSELF. PATHETIC!! A PERSON ALL WRAPPED UP IN HIMSELF MAKES A PRETTY PATHETIC GIFT… AND THAT PATHETIC GIFT TO NO ONE… IS YOU!!!

  • Joe Cabot

    Actually I was referring to your personal money supply. For a yapping blowhard who believes that he knows all about money and finance, you certainly do spend an inordinate amount of time bemoaning your lack of cash. You must be like the economists who hide in academia spewing theories instead of having the guts to attempt them in the real world.

  • JohnDille

    LIBERALS RARELY DISAGREE WITH ME… NOT JUST BECAUSE AM USUALLY RIGHT… BUT QUITE OFTEN BECAUSE I LEARNED WHAT I KNOW FROM OTHER EDUCATED PEOPLE… MOST OF THEM LIBERALS. TO BAD THAT YOU ARE TOO ARROGANT AND SELF CENTERED TO EVEN LISTEN AND UNDERSTAND WHAT OTHER PEOPLE ARE TRYING TO TELL YOU!!! YOU COULD LEARN A LOT IF YOU STOPPED LOOKING IN THE MIRROR ALL THE TIME, AND SIMPLY LOOKED AROUND AT THE REST OF THE WORLD FOR A CHANGE!!! ITS A FASCINATING WORLD OUT THERE… IF YOU WERE NOT SO SELF ABSORBED TO EVEN NOTICE IT!!!

  • JohnDille

    WHAT PART OF THE MONEY SUPPLY ARE YOU REFERING TO??? M1 OR M2 OR M3 OR M4 OR M5… AND PROBABLY MORE BEYOND THAT. THE WORLD IS AWASH IN MONEY… AND HUGE AMOUNTS OF IT ARE FLOWING INTO THE UNITED STATES BECAUSE ITS ONE OF THE FEW HEALTHY ECONOMIES IN THE WORLD RIGHT NOW… AND FOR THE LAST 5 OR 6 YEARS. DANG OBAMA!!! THE LIQUIDITY THAT THE FED HAS PUT INTO THE SYSTEM IS TRIVIAL COMPARED TO THE MORE THAN 300 TRILLION IN FINANCIAL ASSETS THAT EXIST AROUND THE WORLD! IF THE FEDS POLICIES ARE SO BAD… THEN WHY IS TENS OF TRILLIONS OF DOLLARS FLOWING INTO THE UNITED STATES… TO TAKE ADVANTAGE OF THE OPPORTUNITES FOR THE RICH IN THIS COUNTRY AND AROUND THE WORLD…. AND TO AVOID ALL THE PROBLEMS INHERENT IN INVESTING ELSEWHERE IN THE WORLD! AND WHERE IS ALL THE INFLATION THAT YOU RIGHT WINGERS HAVE BEEN WARNING ABOUT FOR YEARS… AND WHERE IS THE FINANCIAL COLLAPSE THAT YOU RIGHT WINGERS HAVE BEEN WARNING ABOUT, EVER SINCE OBAMA TOOK OFFICE??? OH.. YEAH… INFLATION AND FINANCIAL COLLAPSE HAPPENS MOSTLY WHILE REPUBLICANS ARE IN CHARGE OF THINGS… AND THAT DANG OBAMA JUST WILL NOT COOPERATE WITH THE REPUBLICAN DESIRE TO DESTROY AMERICA AND IMPOVERISH AMERICAN WORKERS AND THEIR FAMILIES!!! I GUESS RIGHT WINGERS ARE JUST AMERICA HATERS… WISHING AND HOPING FOR THAT DANG OBAMA… AND THEFED… TO FINALLY… AFTER ALL THESE YEARS… TO SCREW UP SO THAT RIGHT WINGERS CAN PROCLAIM… WE TOLD YOU SO!!! OF COURSE… EVENTUALLY… SOMEDAY… RIGHT WINGERS WILL BE RIGHT. MOST LIKELY THE NEXT TIME A REPUBLICAN INHABITS THE WHITE HOUSE AND REPUBLICANS CONTROL ONE OR BOTH HOUSES OF CONGRESS, AS WELL.

  • Joe Cabot

    Good luck with that. The comrade takes no prisoners when it comes to his tantrums. He will yell at the most left of the left if they don’t agree with all of his yapping.

  • Joe Cabot

    For all of your self-proclaimed financial and fiscal expertise, you certainly don’t seem to understand the the concept of money supply. Of course your personal results are rather a dead giveaway that you are all bluster and no action.

  • moosegringo

    ROFL!!!!!!!

  • JohnDille

    REPUBLICAN STATES ARE FAR FAR MORE LIKELY TO GET MORE MONEY AND BENEFITS FROM THE FEDERAL GOVERNMENT THAN THEY PAY IN TOTAL TAXES TO THE FEDERAL GOVERNMENT. AND THE MORE SOLIDLY REPUBLICAN A STATE IS, THE MORE LIKELY THAT IS TO BE TRUE. THERE ARE MANY REASONS FOR THIS… CHIEF AMONG THEM THAT BUSINESSES IN REPUBLICAN STATES REFUSE TO PAY DECENT WAGES… SO THE GOVERNMENT HAS TO STEP IN AND SUBSIDIZE THE WORKERS IN THOSE STATES. AND REPUBLICANS ARE TOO STUPID TO EVEN REALIZE THEY ARE BEING RIPPED OFF BY THEIR EMPLOYERS… AND THEIR LANDLORDS AND BY THE BUSINEESES THEY NEED TO DO BUSINESS WITH…. AND REPUBLICANS ARE TOO GUTLESS TO STAND UP AND DEMAND DECENT WAGES. SO, WITHOUT FOOD STAMPS AND WELFARE AND GOVERNMENT MEDICAL CARE, TENS OF MILLIONS OF REPUBLICANS WOULD BE STARVING AND DYING ON THE STREETS! AND DEMOCRATS ARE FAR MORE LIKELY TO HAVE TO PAY FOR ALL THIS ASISSTANCE TO REPUBLICANS THAN OTHER REPUBLICANS ARE! REPUBLICANS ARE JUST DEAD BEATS AND MOOCHES… AND TOO HYPOCRITICAL TO EVEN ADMIT THAT GRIM TRUTH!!!

  • JohnDille

    Is it true then that most right-wingers dropped out in the fourth grade? IT SURE AS HECK SEEMS LIKE IT!!! it’s hard to agree with you about most of the things you say because you make such extreme statements that aren’t based on truth at all BESIDES MY HYPERBOLIC ATTACKS ON RIGHT WINGERS… WHAT HAVE I SAID THAT IS SIGNIFICANTLY UNTRUE??? REPUBLICANS REALLY ARE BECOMING EVER MORE AGGRESSIVELY FASCIST, AND THEY ARE DOING DEEP DAMAGE TO OUR NATION! WHERE IS THE FALSEHOOD IN THAT STATEMENT… OR IN ALMOST ANY OTHER SUCH STATEMENT THAT I MAKE??? AMERICA IS BECOMING EXTREMELY UNEQUAL, AND THAT IS DANGEROUS… AND REPUBLICAN POLICIES ARE MAKING THINGS MUCH WORSE THN THEY OTHERWISE WOULD BE. THAT IS ANOTHER GENERALLY TRUE STATEMENT. AND SO ON.

  • moosegringo

    I must say, that was a very nice Copy/Paste job. NO CAPS GAVE IT AWAY. But Democrats are just Socialists with a different label. “Gimme what I ‘deserve’, rather than what I can earn.” Entitlement babies have no clue how the real world works – and could care less – as long as someone else is “paying their bills”. I’m tired of working 50+ hours a week (self-employed) to pay for other people’s “stuff”. Being Republican has NOTHING to do with that.

  • Aaron Ruter

    Is it true then that most right-wingers dropped out in the fourth grade? John, I have democratic beliefs myself but it’s hard to agree with you about most of the things you say because you make such extreme statements that aren’t based on truth at all and then you throw rocks at a very large audience saying they don’t accept truth? Help me out here. I’d like to find something that you and I can agree on since you claim to support democratic views, but these outrageous, false claims which are not based on facts at all is really hurting any attempt to bring us together.

  • JohnDille

    What most forms of fascism had in common (highlights from Encyclopedia Britannica):

    Opposed to leftists (Marxism, social democracy). This itself creates many sub-lists (anti-Union, anti-labor, etc). So fascism is definitely far right, not far left — remember that when Republicans try to link Democrats to fascism.

    Opposed to parliamentary democracy. Elections “undermined the natural selection of ruling elites.”

    Opposed to political and cultural liberalism (rights of individual should not be placed above the needs of the collective state, cultural liberalism leads to immorality)

    Favored the wealthy far more than the middle/working class, less regulations for corporations

    Favored corporatism to suppress the labor movement and political dissent while aligning private industry to the needs of the state

    Social disparities between rich and poor were not important (nothing to see here, move along)

    Favored imperialistic foreign policies

    Military: “Nothing has ever been won in history without bloodshed”

    Patriotic fervor that played on emotions, not reason

    A single leader with absolute power

    Portrayed fascism as virile man vs cerebral feminine/weak liberals

    Education: indoctrination and loyalty more important than intellectual growth and critical thinking (because the latter was a threat to fascism)

    Moral justification of intolerance, repression and violence (especially against political opponents)

    Extreme nationalism — a purity devoid of liberal corruption

    Scapegoating — the problems fascists created were blamed on someone else

    Populist anti-intellectualism

    Women should assume their ‘traditional roles’

    Racism is ok

    Fascist leaders “portrayed themselves as defenders of Christianity”

    While there are many similarities to the 14-points posted, I think the discussion should be based not on the 14-points (the work of a history buff) and something that at least has an editorial/peer review process that is less easily discounted by most readers. Sure, Republicans will still complain, but the fact is that they ARE anti-liberal, and if the fascist shoe fits….

  • Axl

    it’s silly to read this stuff, let’s call ’em the artists of the “doom and gloom”.
    the broken clock on the wall is right twice a day.
    how come that a rise in interest rates, and a titening of the deluge of money supply, will directly lead to a catastrophy in and of itself?!
    like a “drug adict” the writer “asks for more”.

  • moosegringo

    I don’t object to the truth that you’re an idiot.

  • JohnDille

    WHICH PART OF THE TRUTHS STATED ABOVE DO YOU OBJECT TO??? OH… WAIT… YOU ARE A RIGHT WINGER…. YOU OBJECT TO ALL TRUTH AND TO ALL HONESTY! IF ITS NOT A FLAT OUT LIE, YOU WILL REFUSE TO BELIEVE ANYTHING!

  • TexasBobA

    stuff the Fed and stuff the rest of the World. They played games long enough. The people who have been hurt for years is Americans who saved money and retired. Their (my) interest income went to near 0. Stuff them all.

  • moosegringo

    @JohnDill: You really are an idiot, aren’t you? Oh, sorry, redundant question.

  • JohnDille

    FOR YEARS… RIGHT WINGERS HAVE BEEN BASHING THE FED FOR KEEPING THE ECONOMY FAIRLY STRONG BY KEEPING INTEREST RATES LOW. SO… NOW… THE FED IS TALKING ABOUT RAISING RATES… AND RIGHT WINGERS ARE WHINING ABOUT THE EFFECT OF RAISING THOSE RATES!!! WHICH IS IT, RIGHT WINGERS… SHOULD THE FED RAISE RATES AND TANK THE WORLD ECONOMY… OR SHOULD THE FEDS KEEP INTEREST RATES LOW… AND SAVE ORDINARY AMERICANS ABOUT 2 TRILLION DOLLARS A YEAR IN LOWER INTEREST COSTS??? MUCH TO THE CONSTERNATION OF RICH RIGHT WINGERS, THE FED HAS BEEN DOING THE LATTER!!! OF COURSE, THE IMPACT OF THE FED ON INTEREST RATES IS REALLY QUITE MINIMAL… THE FED REALLY FOLLOWS THE BOND MARKETS… NOT THE OTHER WAY AROUND! IF RIGHT WINGERS HAD MANAGED TO PASS A BASIC ECONOMICS 101 COURSE, THEY WOULD KNOW THAT… BUT MOST RIGHT WINGERS DROPPED OUT IN THE FOURTH GRADE… OR GOT SIDETRACKED WITH THEIER GUNS AND FAST CARS AND DRUGS… AND THEREFORE DID NOT LEARN MUCH ECONOMICS… OR SCIENCE… OR REAL HISTORY… OR ANYTHING ELSE BASED ON ACTUAL FACTS!!! IGNORANCE IS A DANGEROUS THING, RIGHT WINGERS, AS YOUR BELIEVES AND OPINIONS AND ACTIONS PROVE ON A DAILY BASIS!!!