Obama's Green Energy Scam & Debacle

Here is a good article listing all of the bankrupt alternative energy companies that have swindled the American Taxpayer out of billions. Many of the CEO's of these companies are friends and contributors to Obama and his Administration. Can anyone say; "Credit Mobile," for the 21st Century.

http://blog.heritage.org/2012/10/18/president-obamas-taxpayer-backed-green-energy-failures/

It's a long article but it pretty much gives a good overview of who runs the country, how we got to where we are now & where & why so much debt has accumulated.
http://www.thenation.com/article/sls-bi ... page=full#

samhill wrote:It's a long article but it pretty much gives a good overview of who runs the country, how we got to where we are now & where & why so much debt has accumulated.
http://www.thenation.com/article/sls-bi ... page=full#

What has this to do with the Green Energy Scam? Everyone also knows that The Nation is nothing but a Left Wing, Pro Marxist Rag anyhow, all of the ills in your article can be put upon a corrupt Government which gives favors to certain people for power in return.

Not just the "green energy" scam but the push for socialism scam that is working.. errr not working as the case may be.

http://www.washingtontimes.com/news/201 ... our-years/

Welfare spending up 32% during the Obama reign. Billions and Billion of $$$$ borrowed, spent and wasted.

I almost posted immediately that I would wait for the thoughtful and outrageous post by Sam that was sure to follow. But I have to give credit Sam, that is a very good link.

Kevin

If a few of you would take the time to read instead of just in your haste to criticize then you may or may not see how it all ties together but if you don't read then you'll never really know. If you are too young to recall much of whats posted then take the time to look it up bit by bit or you can believe what someone says that has a vested interested in the way things are going. I know I will always be wrong with most just by the pure numbers but I still care enough to take everything with a grain of salt & investigate.

samhill wrote:If a few of you would take the time to read instead of just in your haste to criticize then you may or may not see how it all ties together but if you don't read then you'll never really know. If you are too young to recall much of whats posted then take the time to look it up bit by bit or you can believe what someone says that has a vested interested in the way things are going. I know I will always be wrong with most just by the pure numbers but I still care enough to take everything with a grain of salt & investigate.

The Federal Reserve, with the blessings of the current President, is pumping billions in worthless cash to prop up the Stock Market, at least until the election is over. This action by the Federal Reserve is an attempt to protect the large banks and their friends in the Government from the disastrous consequences of speculating with bad mortgage loans and the deposits of their customers. The end result will be a giant crash that will plunge not only us but the whole world into economic chaos.
The result for the ordinary person is that their retirement funds aren't earning anything, you are getting nothing in interest for your savings accounts and why inflation is working its way into the cost of everything, except housing. The icing on the cake is while your money is earning less and buying less, your home is probably worth less than the mortgage you hold on it.
All of this can be directly traced to the actions of the Democrats who instituted this from the beginning. The only exception and it is a big exception is that Nixon did away with the gold standard and this unleashed the powers that be to go hog wild with dept.

But again this is a whole different subject. The thread is about Obama's taking tax dollars and funneling it into scam energy companies to enrich and benefit his political pals. Try sticking to the subject at hand for once. But since again there is no defense for what this criminal president has done or is doing, you can't stick to the subject.

I'm convinced our major problems began with the severing of the US Dollar form gold in 1971. It is merely a fantasy now. That said:

The banks today are leveraged on average at 11.25 to 1 (thanks to fractional reserve banking). Most of their "assets" are home mortgages. If those mortgages are worth a mere 9% less than the fantasy valuations at which they are being carried on the books of the banks, in reality the banks are insolvent. Home prices are about 40% lower today than they were 6 years ago. The banks are fourfold insolvent. That's why the endless QE3 (QE infinity) pipeline runs directly from the Fed to the banks. The hurt they are in is only hidden by their "mark to fantasy" accounting, whereby their assets are valued by whim and prayer rather than by any attempt at marking them to a realistic market price.

If QE infinity dupes us into once again paying the 2006 price for homes, the banks will be solvent again. That is the name of the QE infinity game. Anyone want to play by paying 40% more for a home than its worth? How will Romney change any of this?

lsayre wrote:I'm convinced our major problems began with the severing of the US Dollar form gold in 1971. It is merely a fantasy now. That said:

The banks today are leveraged on average at 11.25 to 1 (thanks to fractional reserve banking). Most of their "assets" are home mortgages. If those mortgages are worth a mere 9% less than the fantasy valuations at which they are being carried on the books of the banks, in reality the banks are all insolvent. Home prices are about 40% lower today than they were 6 years ago. The banks are fourfold insolvent. That's why the endless QE3 (QE infinity) pipeline runs directly from the Fed to the banks. The hurt they are in is only hidden by their "mark to fantasy" accounting, whereby their assets are valued by whim and prayer rather than by any attempt at marking them to a realistic market price.

If QE infinity dupes us into once again paying the 2006 price for homes, the banks will be solvent again. That is the name of the QE infinity game. Anyone want to play by paying 40% more for a home than its worth? How will Romney change any of this?

He can't. Nobody can. It's too late, way, way too late. The fuse on the financial bomb has been lit. It's only a matter of time. The only thing that can be done is to fasten your seat belts. It's going to be a bumpy ride.

Warren Buffett once famously said: "It's only when the tide goes out that you learn who's been swimming naked."

Well the tide has gone out, and homes are now worth 35-40% less than in 2006, and lo the banks are all swimming naked, in that they do not have the honest reserve of assets required to "cover" the massive short that they experienced due to their 11:1 leveraging. They are what the financial industry refers to as "naked shorts". This is what Warren Buffett was trying to say.

Others caught naked by the tide going out include Bernie Madfoff, who's essential crime was having in reality only a "fraction" of the assets he claimed to have The banks are essentially no different by policy and intent. The problem is that the power of fractional reserves compounding of wealth works directly in reverse when the tide goes out. The only real difference is that they have been given a free ride to lie about the valuation of their remaining assets forever and a day until such time as the tide comes back in again and their nakedness is once again covered, plus of course they are getting massive infusions of fabricated Fed money that Bernie was not privy to.

if you or I were leveraged to the gills at 11:1 and the positions we held declined by less than 9% we would immediately get a "margin call" and if we could not cover the margin requirements any and all of our remaining assets would be confiscated and our positions would be closed, and we would be bankrupt and potentially facing criminal charges (this was the fate that befell all of the margined Wall Street types who committed suicide after the 1929 market crash, as well as the reason for so many bank failures). Not so for the banks of today. They are special. They are too big to fail. Anything goes when you are too big to fail.

wsherrick wrote:

lsayre wrote:I'm convinced our major problems began with the severing of the US Dollar form gold in 1971. It is merely a fantasy now. That said:

The banks today are leveraged on average at 11.25 to 1 (thanks to fractional reserve banking). Most of their "assets" are home mortgages. If those mortgages are worth a mere 9% less than the fantasy valuations at which they are being carried on the books of the banks, in reality the banks are all insolvent. Home prices are about 40% lower today than they were 6 years ago. The banks are fourfold insolvent. That's why the endless QE3 (QE infinity) pipeline runs directly from the Fed to the banks. The hurt they are in is only hidden by their "mark to fantasy" accounting, whereby their assets are valued by whim and prayer rather than by any attempt at marking them to a realistic market price.

If QE infinity dupes us into once again paying the 2006 price for homes, the banks will be solvent again. That is the name of the QE infinity game. Anyone want to play by paying 40% more for a home than its worth? How will Romney change any of this?

He can't. Nobody can. It's too late, way, way too late. The fuse on the financial bomb has been lit. It's only a matter of time. The only thing that can be done is to fasten your seat belts. It's going to be a bumpy ride.

I've had a long time business relationship with my financial adviser/broker and we have become personal friends. What stuck me was a comment she made recently about her long term investment plans. I re-balance my investment classes each year and was searching for new investment ideas. After discussing the likely effects of the "fiscal cliff", the continuing huge deficits and the every increasing number of citizens on the "public dole". Her conclusion was the only way out of it all, is to "die out of it". Now this person is a V-P of investments for one of the big banks rescued by the government. Her husband is a successful attorney and she has personally loss more than her husband's total net worth during the last few years. We both have made a lot of sound investments over the years and I was frankly stunned by her conclusions. I agree we are beyond the point of any solvency.

Yanche, the next time you talk to your broker, ask about the money supply versus the volume of money trading hands right now. The actual volume of monetary trades, i.e the real economy; is at the lowest point in recorded history. This includes the Great Depression. If she knows her onions, she should scare the heck out of you. Everything is inflated by unsupported debt. It's all fake, all of it.

Who would have thought that shuffling paper pays better than producing anything?

Debt will be paid by default which if done slowly by inflation will work if the abuses of banking and derivatives are stopped. The trick will be to contain runaway inflation.

franco b wrote:Who would have thought that shuffling paper pays better than producing anything?

Debt will be paid by default which if done slowly by inflation will work if the abuses of banking and derivatives are stopped. The trick will be to contain runaway inflation.

Wont happen too much Greed. The only hope is to get a government that can control the greed and keep there personal interests out of govt. Not likely no matter what happens this Nov. I still try to keep a positive view but it gets tough to do at times. I feel the worst for our children and what we are leaving them.