And that is all.

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Wednesday, May 20, 2009

3 Wood: Seizer's Magical Inflatable Printing Oppression

I Want My Bailout Money
Mike Adams
Aren't you tired of payin' for that?
Tired of breakin' your back for that?
Bein' oppressed and suppressed
while you keep payin' your tax for that?
We gotta get out of this financial trap
And it's never gonna stop until you take your country back

The politicians are useless,
don't you know that they used us
And the bankers refused us
while the media schooled us
The authorities knew this was happening to us
Cause they make more money
every time that they screw us

You didn't think they're printing
all that funny money just for you, did ya?

Drownin' in debt but the Fed isn't done yet
What are we gonna get?
Gonna print funny money
Budget's in the red, economy nearly dead
Politician's said that we
Gonna print funny money
Hangin' by a thread, the people are bein' bled
But get it through your head that we
Gonna print funny money
The bankers gotta stay ahead, gotta make more bread
That's when they said, "Print more money!"
The outright printing of money is starting to inflate the stock market:

Dr. Doom: Money Printing Pushed Stocks Up
"Major central banks' efforts to lift the world economy by printing money have boosted asset prices, so stocks are unlikely to hit their lows from November and March, Marc Faber, the author of "The Gloom, Boom & Doom Report," wrote in his latest research report.

"I have explained repeatedly in the past that if a government is really determined to try and postpone an inevitable collapse by 'printing money' in order to lift or support asset prices, it can be done," Faber wrote.

"This is not to say that the global economy is about to embark on a strong and sustainable growth phase. It also doesn't mean that a new bull market in global equities a la 1982-2000 has begun," he said.

"But I think that, at least in nominal terms (inflation-adjusted), the global printing presses being run by the world's central banks and fiscal deficits have begun to impact asset prices positively," Faber wrote."

The upshot is, as money is devalued via being printed like its 1923 Germany, the prices go up to reflect the reduced buying power of the money. For those of you with retirement nest eggs, start thinking about how to protect yourself from high inflation.

Here comes the next wave of bankruptcies:

American Express Will Slash 4,000 Jobs, Take Charge

"May 18 (Bloomberg) -- American Express Co. , the largest U.S. credit-card company by purchases, will cut about 6 percent of its workforce as cardholders squeezed by rising unemployment fail to pay debts.

American Express will take a charge of $180 million to $250 million in the second quarter, mostly tied to severance and other costs from eliminating 4,000 positions, the New York-based company said today in a statement. Additional reductions will be made in marketing and travel costs and consulting services.

The cuts, in addition to 7,000 job eliminations announced in October, may save about $2 billion in expenses this year, the company said. American Express has had to set aside more reserves for failed loans as surging U.S. unemployment makes it harder for customers to pay debt. The jobless rate reached 8.9 percent in April, a 25-year high."
You watch what happens with the credit card legislation real close. I bet before it's all over, Congress will be setting pay levels and requiring credit cards be given out by these financial institutions too.

For those who have not noticed, the interest rates are inching up now. 10 year bonds are up to 3.22% and just a few weeks ago they were 2.76%.

That means that Obama's inflation is here.

Sky High

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