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Real Crash - by Howard

 
Hedge funds are gambling, while production is crashing. The real estate bubble is over, and going down. New York City is beautiful, that's why I take pictures of it, but it's the belly of the beast.

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Atlantic City and Las Vegas

July 26th 2010 21:08
Real Crash- Looking at Capitalism and its Laws:
Bruce Springsteen, magic
Hey Bruce, any magic for Atlantic City?



The myth of money making and success of the gambling industry is now public in New Jersey. In what he calls a "bold and risky" move, New Jersey Governor Chris Christie is proposing that the state take over the Atlantic City casino district and turn the seedy gambling town into a "family resort" along the lines of Las Vegas. Christie also plans to privatize the Meadowlands horse-racing track and Izod sports center, and float a bond issue to save the nearby Xanadu mega-mall. Maybe Bruce Springsteen, with all his wild and free fantasies, can bailout Atlantic City instead.

The move to turn Atlantic City into "Las Vegas East" is apparently based upon a McKinsey & Co. report issued in June, on "Revitalizing Atlantic City." The McKinsey report notes that gambling accounts for 5% of the state's tax revenues, and that Atlantic City's gross gambling receipts fell by $1.1 billion from 2006 to 2009. According to McKinsey, Atlantic City needs to target demographic groups ranging from "young entertainment seekers" to "recreation-seeking," "gaming," and "wealthier boomers," to "family vacationers" and "recreation and scenery seekers." In other words, Dope Inc's money-laundering gambling center needs a bail out.

Las Vegas has already abandoned the concept of being a "family-friendly resort" in favor of a return to the more traditional gambling and hookers. "What happens in Vegas, stays in Vegas," is the new theme. Especially your money. Getting tired of bailing out the British Empire? Time for a Glass-Steagall reorganization of banking, with the speculative side left to hang out to dry. National credit back for national projects like the North American Water and Power Alliance project, NAWAPA. Ask the Geezer, I think he knows.


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U.S. Middle Class Economics

July 25th 2010 12:18
Real Crash- Looking at Capitalism and its Laws:
Bob Dylan, Hard rain
Bob Dylan, Hard Rain Gonna Fall


There has been a bit of attention to a blog, theeconomiccollapseblog.com which also has gotten play from Yahoo Tech Ticker and Yahoo Finance. This blog is edited by Mitch Snyder and has some good stuff. The blog has had a particularly good report on the local and state budget cuts and the coming collapse of police, and fireman services. The blog is also a trenchant attack on the idiocies of globalism and of allowing so many manufacturing and other jobs to be outsourced to China and East Asia.

However, unless we in the United States get Glass-Steagall type legislation to separate the global speculative bubble aka investment banking, from deposit banking, like what was done in 1933, the middle class is not just shrinking, it is finished, like the nation in general.

It is ironic that the Arizona state legislation wants local police to also serve as immigration enforcement officers at a time when local police are being cut and shrunk. Again, the paradoxes of symbolic legislation are apparent when coming against reality. Don't get sucked into symbolic right-wing (or left-wing) causes. Unless we have an economy again and stop bailing out the financial bubble aka the Inter-Alpha banking group of Lord Jacob Rothschild, aka the British Empire, we will fail. Don't believe the hype. We need the LaRouche Youth Movement, their candidates and their program. And yes, Obama must be gotten out safely but soon. As hard as it is, reports are that September 2010 is the deadline to get Obama out and avoid the consequences.
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Obama Shows His Friends What it's all About

July 24th 2010 12:22
Real Crash- Looking at Capitalism and its Laws:
Obama, oil spill
Obama visits BP's oil spill


Obama's betrayal and firing of Ms. Shirley Sharrod, an African-American Agricultural Department official, on Monday of this week, and the forced about-face on the part of Obama and the White House shows their level of panic and insanity. Likewise Obama and Pelosi running their lynch mob against Charles Rangel (Dem.- Harlem, NY) to try to drive this old FDR Democrat out of the House. This may be hard for some of my right-wing friends to understand, but it is simply a matter of Obama's betrayal of his so-called friends. We should start calling Obama the Jim Crow president.

You can't blame this on a bunch of wild bloggers and Fox TV. On Monday a video of Sherrod, speaking at an NAACP meeting in Georgia was posted on the Internet. She was caught saying that she was reluctant to go all out to help a white farmer facing foreclosure. By Monday night, Obama had had her fired without even asking her for an explanation. Then it turned out that the video excerpt had been taken severely out of context, and that what she had actually said, was that, when this incident had occurred 24 years ago, she had come to the conclusion that she had to overcome such feelings and fight for everyone.

Agriculture Secretary Vilsack took the blame, but this was Obama. As Sherrod talked about Obama on a morning talk show on CNN: "He hasn't lived the kind of life I've lived. I know he's African-American, or part African-American, and many of us are not totally black in our genes. I'm one of them. But when you get down to where the rubber meets the road, I think he needs to understand a little more of what life is like at that level."

Obama is going down like Emperor Nero and Hitler. I just hope he doesn't physically commit suicide.
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European Banks Say Jump

July 23rd 2010 00:28
Real Crash- Looking at Capitalism and its Laws:
merrill lynch, real crash
The Banking Bull stops here



Just checked that my Oct 1st 2007 slug, Crashin-Again has become a hit again. This time the whole thing is ready to come down. That starts with the modern British Empire, Lord Jacob Rothschild's Inter-Alpha Group of European banks and their US allies. That is about 70-percent of what passes for banking these days. With the collapse of the Banco Santander and the real estate market in Spain, it won't be long, like till the September-October 2010 crash. In Europe with the exception of some in Germany, they seem ready to jump.

By then we better force Obama out and get the Glass-Steagall separation of socalled investment banking versus real hard core banking assets like deposits. That is, if you want the USA and civilization to survive. Hyperinflation is not much fun, as they found out in Germany in 1923.
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The Budget, Drugs, Sex and Rock'n'Roll

July 17th 2010 14:15
Real Crash- Looking at Capitalism and its Laws:
sex pistols, usa, uk, anarchy
Anarchy in the USA


With cops being laid off all over the country, we are that closer to anarchy in the USA. Check out "The Economic Collapse" blog by a fellow named Snyder. Snyder, in a column posted last night, reports that a billboard in Stockton, California, is perfectly clear on that question: "Welcome to the 2nd most dangerous city in California. Stop laying off cops." The Stockton Police Officers Association plans to spend $20,000 on 20 more such billboards, because the city is considering a plan to lay off 53 officers to help close a $23 million deficit in its budget. But law enforcement in Stockton has already been slashed. A spokesman for the department told the local Fox-TV affiliate on Wednesday that "We absolutely do not have any narcotics officers, narcotics sergeants working any kind of investigative narcotics type cases at this time


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An Economy or not by September

July 16th 2010 01:54
Real Crash- Looking at Capitalism and its Laws:
maglev train, infrastructure
New maglev trains cost money


An interesting question is will there be a US economy worth mentioning by September. People complain about taxes and pork projects, but let's look at infrastructure building and maintenance cycles that last up to 100 years. More on this later at Larouchepac
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Economy Unwinds to Recycle and Whatnot

July 14th 2010 02:02
Real Crash- Looking at Capitalism and its Laws:
iceland, financial crisis
Not Just in Iceland- Financial Crisis



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An Economic Forecast from the Geezer

July 12th 2010 18:33
Real Crash- Looking at Capitalism and its Laws:
queen, financial system
The Queen of the Night about to sing the high note


The Geezer has warned that getting Obama out is a matter of national and economic survival, not a feel-good issue. The Geezer reminds us that the speculative bubble is finished and cannot be bailout, nor do we want to bail it out


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Obama in the Bunker

July 7th 2010 00:18
Real Crash- Looking at Capitalism and its Laws:
Obama, what a trip
Obama Superman



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Nuke the BP Oil Spill

July 3rd 2010 13:01
Real Crash- Looking at Capitalism and its Laws:
BP Oil Spill, birds
Birds Affected by the Oil Spill


We are coming to a turning point on the BP oil spill in the Gulf of Mexico. If they are unable to make a successful relief well in August, a peaceful nuclear explosive is the only way to stop this oil gusher over the next 2 to 4 years. Listen to what Viktor Mikhailov says. A veteran in the use of PNEs to seal gas wells during the Soviet days, Russian Minister of Nuclear Energy and veteran Russian physicist, Viktor Mikhailov, says he knows just how to fix BP's oil leak in the Gulf of Mexico. "A nuclear explosion over the leak... I don't know what BP is waiting for; they are wasting their time. Only about 10 kilotons of nuclear explosion capacity and the problem is solved." (from Reuters news service


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