2008 Archive

  • By John Galt December 19, 2008 Window #1: December 19 to December 31 GMAC bank bid fails. This requires and additional bail out for Cerberus and GM to prevent a complete collapse in Chrysler and GM. If the GMAC bank bid fails and they file for bankruptcy, whatever funds provided to the automakers before Christmas will be irrelevant as the...

    21 Days: Windows Opening and Closing or Imploding

    By John Galt December 19, 2008 Window #1: December 19 to December 31 GMAC bank bid fails. This requires and additional bail out for Cerberus and GM to prevent a complete collapse in Chrysler and GM. If the GMAC bank bid fails and they file for bankruptcy, whatever funds provided to the automakers before Christmas will be irrelevant as the...

    Continue Reading...

  • By John Galt December 16, 2008 Prevailing wisdom on the morning of December 16, 2008 was that I would wake up, watch Bubblevision, drive to Vero Beach, FL, visit my accounts and today would be a non-eventful sort of financial market kind of day. The Federal Reserve was supposed to mark the Fed Funds Rate down to 0.50%, the Bureau...

    When Argentina Calls Us a Banana Republic

    By John Galt December 16, 2008 Prevailing wisdom on the morning of December 16, 2008 was that I would wake up, watch Bubblevision, drive to Vero Beach, FL, visit my accounts and today would be a non-eventful sort of financial market kind of day. The Federal Reserve was supposed to mark the Fed Funds Rate down to 0.50%, the Bureau...

    Continue Reading...

  • By John Galt December 10, 2008 Sometimes you have to accept the premise that being the “first” in some things is not always the best. President-Elect and Grand Poobah of the United States, His Honorable Eminence, the Almighty Supreme Leader, Barrack Huessein Obama has the privilege of being the first black President of America. With privileges, come problems as he...

    The Cure to the Depression of 2008

    By John Galt December 10, 2008 Sometimes you have to accept the premise that being the “first” in some things is not always the best. President-Elect and Grand Poobah of the United States, His Honorable Eminence, the Almighty Supreme Leader, Barrack Huessein Obama has the privilege of being the first black President of America. With privileges, come problems as he...

    Continue Reading...

  • How I Became a Survivalist and Remained Squeezably Soft By John Galt December 3, 2008 In the great year of 1999, I was prepared to hunker down in my humble home with my wife and critters for the end of the world as we know it (TEOTWAWKI for all you still learning the lingo). I was cushioned by my vast...

    The Toilet Paper Survivalist

    How I Became a Survivalist and Remained Squeezably Soft By John Galt December 3, 2008 In the great year of 1999, I was prepared to hunker down in my humble home with my wife and critters for the end of the world as we know it (TEOTWAWKI for all you still learning the lingo). I was cushioned by my vast...

    Continue Reading...

  • On Tuesday, November 4th 2008, America Will Weep By John Galt Monday November 3, 2008 On Tuesday, America will weep. No, not the people;  the conscience of our society, the Founding Fathers, the Constitution and the fabric which united a diverse group of people into a cohesive society which emerged from serfdom to a monarch and for two hundred plus...

    Returning to Zero

    On Tuesday, November 4th 2008, America Will Weep By John Galt Monday November 3, 2008 On Tuesday, America will weep. No, not the people;  the conscience of our society, the Founding Fathers, the Constitution and the fabric which united a diverse group of people into a cohesive society which emerged from serfdom to a monarch and for two hundred plus...

    Continue Reading...

  • By John Galt October 26, 2008 The first section of this essay is a look into a possible future our society might encounter in the months, or perhaps weeks, ahead. Mary Jo Schlumpunfunk (with all kudos to Glenn Beck) was driving home from work in the suddenly cold November air of her home town of Jeffersonville, Indiana. Mary Jo was...

    Closed for Business

    By John Galt October 26, 2008 The first section of this essay is a look into a possible future our society might encounter in the months, or perhaps weeks, ahead. Mary Jo Schlumpunfunk (with all kudos to Glenn Beck) was driving home from work in the suddenly cold November air of her home town of Jeffersonville, Indiana. Mary Jo was...

    Continue Reading...

  • By John Galt Sunday, September 14, 2008 The photo of the JP Morgan Chase building in Houston, TX with all of the broken windows thanks to Hurricane Ike is the perfect metaphor for our shattered financial system. The symbolism of the fractured chunk of a window in the photo above is the ultimate image for describing what is happening to...

    Broken Glass

    By John Galt Sunday, September 14, 2008 The photo of the JP Morgan Chase building in Houston, TX with all of the broken windows thanks to Hurricane Ike is the perfect metaphor for our shattered financial system. The symbolism of the fractured chunk of a window in the photo above is the ultimate image for describing what is happening to...

    Continue Reading...

  • By John Galt August 25, 2008 Here you go again! It does not take this author, blogger, semi-sane writer and all around nice guy (cough) much to imagine just what people are thinking when they read the title of this editorial. The emails will say “oh but you’re pimping gold because you are selling it into the highs and running...

    Gold $2000 Thanks to Fannie and Freddie

    By John Galt August 25, 2008 Here you go again! It does not take this author, blogger, semi-sane writer and all around nice guy (cough) much to imagine just what people are thinking when they read the title of this editorial. The emails will say “oh but you’re pimping gold because you are selling it into the highs and running...

    Continue Reading...

  • By John Galt August 3, 2008 Juan and Isabella were exhausted, but the land they had been seeking for escape finally appeared over the horizon. The lights of the big city were way off to the West so they figured that their little boat with thirteen other refugees was safe and sound. Once they were ashore the group pushed the...

    Prepetorial#21: Wet Foot, Dry Foot

    By John Galt August 3, 2008 Juan and Isabella were exhausted, but the land they had been seeking for escape finally appeared over the horizon. The lights of the big city were way off to the West so they figured that their little boat with thirteen other refugees was safe and sound. Once they were ashore the group pushed the...

    Continue Reading...

  • By John Galt July 30, 2008 Sheriff Mack walked calmly into the Mayor’s office with a hurried manner in his face. Mayor Williams looked at him and asked immediately “What’s wrong Bill?” The Sheriff took his hat off and unzipped his coat while responding “Tom, we’re getting reports that Minneapolis and Chicago just got nuked. No further news as the...

    Prepetorial #20: ..-. .- .-.. .-.. – - – ..- -

    By John Galt July 30, 2008 Sheriff Mack walked calmly into the Mayor’s office with a hurried manner in his face. Mayor Williams looked at him and asked immediately “What’s wrong Bill?” The Sheriff took his hat off and unzipped his coat while responding “Tom, we’re getting reports that Minneapolis and Chicago just got nuked. No further news as the...

    Continue Reading...

  • Filed under: Prepetorials — John Galt @ 2:52 am Prepetorial #19: “Preppyers” July 25, 2008 by John Galt Tonya and Tony were exhausted. They had hiked for an over an hour to the outskirts of Ellisville, MS after abandoning their X5 SUV just outside of Richton, out of gas and too dangerous to keep driving as it attracted too much...

    Prepetorial #19: “Preppyers”

    Filed under: Prepetorials — John Galt @ 2:52 am Prepetorial #19: “Preppyers” July 25, 2008 by John Galt Tonya and Tony were exhausted. They had hiked for an over an hour to the outskirts of Ellisville, MS after abandoning their X5 SUV just outside of Richton, out of gas and too dangerous to keep driving as it attracted too much...

    Continue Reading...

  • By John Galt July 24, 2008 Ah thank you oh former Bear Stearns cheerleader Christopher Cox who occasionally fills in as the “ENFORCER” at the Securities and Exchange Commission when he is not on Bubblevision promoting a particular stock which needs a bailout. It is the special order issued from up on high and the absurd way in which the...

    How Now, Dollar Dead Sacred Cow?

    By John Galt July 24, 2008 Ah thank you oh former Bear Stearns cheerleader Christopher Cox who occasionally fills in as the “ENFORCER” at the Securities and Exchange Commission when he is not on Bubblevision promoting a particular stock which needs a bailout. It is the special order issued from up on high and the absurd way in which the...

    Continue Reading...

  • Prepetorial#18: Vienna Weiners By John Galt July 17, 2008 The little store marked “Joe’s 24” sitting off Highway 87 near Jay, FL has changed hands a few times in the last 4 years, but now in 2010, it became the meeting place for everyone crossing from Alabama into Florida and vice versa to get goods and gas. This little country...

    Prepetorial#18: Vienna Weiners

    Prepetorial#18: Vienna Weiners By John Galt July 17, 2008 The little store marked “Joe’s 24” sitting off Highway 87 near Jay, FL has changed hands a few times in the last 4 years, but now in 2010, it became the meeting place for everyone crossing from Alabama into Florida and vice versa to get goods and gas. This little country...

    Continue Reading...

  • Filed under: Old Posts — @23:53 July 14, 2008 By John Galt Down 77 cents in that chart but $1 real time now. Think some people have finally put 2+2 together and realized that they held a similar, not identical, but similar portfolio to Indymac? It does not take rocket science to figure out that these bankster stocks are dropping...

    WaMu WaWhacked!

    Filed under: Old Posts — @23:53 July 14, 2008 By John Galt Down 77 cents in that chart but $1 real time now. Think some people have finally put 2+2 together and realized that they held a similar, not identical, but similar portfolio to Indymac? It does not take rocket science to figure out that these bankster stocks are dropping...

    Continue Reading...

  • July 8, 2008 It’s the Solvency Stupid Filed under: Old Posts — John Galt @ 9:12 am By John Galt There has been a lot of speculation and postulation by the Bubblevision crowd and those declaring a bottom every fifteen minutes on television and radio that the housing crisis is almost over and that as soon as lending standards stabilize...

    It’s the Solvency Stupid

    July 8, 2008 It’s the Solvency Stupid Filed under: Old Posts — John Galt @ 9:12 am By John Galt There has been a lot of speculation and postulation by the Bubblevision crowd and those declaring a bottom every fifteen minutes on television and radio that the housing crisis is almost over and that as soon as lending standards stabilize...

    Continue Reading...

  • Filed under: Old Posts — John Galt @ 9:12 am By John Galt July 8, 2008 There has been a lot of speculation and postulation by the Bubblevision crowd and those declaring a bottom every fifteen minutes on television and radio that the housing crisis is almost over and that as soon as lending standards stabilize a recovery will ensue....

    It’s the Solvency Stupid

    Filed under: Old Posts — John Galt @ 9:12 am By John Galt July 8, 2008 There has been a lot of speculation and postulation by the Bubblevision crowd and those declaring a bottom every fifteen minutes on television and radio that the housing crisis is almost over and that as soon as lending standards stabilize a recovery will ensue....

    Continue Reading...

  • Filed under: Old Posts — John Galt @ 9:14 am By John Galt June 24, 2008 The headline from Reuters said it all: McCain calls for $300 million prize for car battery Just ugh. This guy just does not get it. When the American people screamed out that we really liked our First Amendment, he and his socialist buddies passed...

    300 Million Reasons America is So Screwed

    Filed under: Old Posts — John Galt @ 9:14 am By John Galt June 24, 2008 The headline from Reuters said it all: McCain calls for $300 million prize for car battery Just ugh. This guy just does not get it. When the American people screamed out that we really liked our First Amendment, he and his socialist buddies passed...

    Continue Reading...

  • Filed under: Old Posts — John Galt @ 1:34 am Ali Haider/European Pressphoto Agency By John Galt June 23, 2008 It was a dark and rainy night. Or at least afternoon here in the sunshine state of Florida. What was fascinating about this rainy, sleepy Sunday was waiting for the “big” news from the Arab division of the U.S. Central...

    Bloviating Bovine Scattology and Blathering Boosts of Sour

    Filed under: Old Posts — John Galt @ 1:34 am Ali Haider/European Pressphoto Agency By John Galt June 23, 2008 It was a dark and rainy night. Or at least afternoon here in the sunshine state of Florida. What was fascinating about this rainy, sleepy Sunday was waiting for the “big” news from the Arab division of the U.S. Central...

    Continue Reading...

  • Filed under: Old Posts — John Galt @ 9:07 am By John Galt June 20, 2008 Nope, sorry Bob, not your C.S.A. But you were a fine man for your time in an unfortunate intersection in history. This is the story about a nation which some three hundred years ago was a colony. Not since this map below from circa...

    THE C.S.A. SHALL RISE AGAIN

    Filed under: Old Posts — John Galt @ 9:07 am By John Galt June 20, 2008 Nope, sorry Bob, not your C.S.A. But you were a fine man for your time in an unfortunate intersection in history. This is the story about a nation which some three hundred years ago was a colony. Not since this map below from circa...

    Continue Reading...

  • Filed under: Old Posts — John Galt @ 9:06 am by John Galt June 19, 2008 Beware the Ides of June. Maybe it was something in the water or another saying but this month is turning out to make March of this year look tame by comparison. Rumors abound. Markets way out of whack. And the only thing consistent is...

    Old News Anew Again

    Filed under: Old Posts — John Galt @ 9:06 am by John Galt June 19, 2008 Beware the Ides of June. Maybe it was something in the water or another saying but this month is turning out to make March of this year look tame by comparison. Rumors abound. Markets way out of whack. And the only thing consistent is...

    Continue Reading...

  • Filed under: Old Posts — John Galt @ 10:30 pm June 16, 2008 By John Galt I wish to thank the Federal Reserve crime family cartel, the US government and all of us stupid dumb sheeple voters for creating the mess in the photos above. Before you jump ugly and blame me for putting your name into the hat for...

    The Dying Dollar

    Filed under: Old Posts — John Galt @ 10:30 pm June 16, 2008 By John Galt I wish to thank the Federal Reserve crime family cartel, the US government and all of us stupid dumb sheeple voters for creating the mess in the photos above. Before you jump ugly and blame me for putting your name into the hat for...

    Continue Reading...

  • By John Galt May 19, 2008 Poor Mike. First his wife bounces a check at the local department store (See Prepetorial#16) and then he gets drilled with a chip into his hand to get out of jail. The chip was causing a red sore on his hand but it couldn’t be there because the charming witch used a power drill,...

    Prepetorial #17: “Your Change, Sir”

    By John Galt May 19, 2008 Poor Mike. First his wife bounces a check at the local department store (See Prepetorial#16) and then he gets drilled with a chip into his hand to get out of jail. The chip was causing a red sore on his hand but it couldn’t be there because the charming witch used a power drill,...

    Continue Reading...

  • By John Galt May 15, 2008   As Mike stewed in the holding cell, he wondered what the future had in store for him. For over a year now he had heard rumors about the “Reform Act” but since he had never been in trouble in his life, this one incident where he bounced a check and the department store...

    Prepetorial #16: The Jury is Out

    By John Galt May 15, 2008   As Mike stewed in the holding cell, he wondered what the future had in store for him. For over a year now he had heard rumors about the “Reform Act” but since he had never been in trouble in his life, this one incident where he bounced a check and the department store...

    Continue Reading...

  • By John Galt May 14, 2008 “Mommy, mommy I went wee-wee and added water to the ocean! The fishies should be happy now!” Ah yes. The screams of joyous Congresscritters and refined Senators as they have solved America’s energy crisis by stopping the flow of oil purchases for the Strategic Petroleum Reserve. It’s tantamount to the little four year old...

    “Mommy, Mommy I Went Wee-Wee in the Ocean!”

    By John Galt May 14, 2008 “Mommy, mommy I went wee-wee and added water to the ocean! The fishies should be happy now!” Ah yes. The screams of joyous Congresscritters and refined Senators as they have solved America’s energy crisis by stopping the flow of oil purchases for the Strategic Petroleum Reserve. It’s tantamount to the little four year old...

    Continue Reading...

  • By John Galt May 5, 2008 I mean it. Sell every holding you have. Mail your coins to me. Mail your silver bars to me. Heck, gold, platinum, palladium, I won’t cry. Liquidate all of your holdings now, please. So I can look back and laugh at those of you who do not understand the difference between “real money” or...

    SELL ALL YOUR PRECIOUS METALS NOW! (So my friends and I can hoard them at a cheaper price)

    By John Galt May 5, 2008 I mean it. Sell every holding you have. Mail your coins to me. Mail your silver bars to me. Heck, gold, platinum, palladium, I won’t cry. Liquidate all of your holdings now, please. So I can look back and laugh at those of you who do not understand the difference between “real money” or...

    Continue Reading...

  • By John Galt April 29, 2008 This is the story About Hammerin’ Joe, Hittin’ everything With his hammer you know, Then one day, He made a mighty hit, And broke his hammer, Into itty bitty bits. Along came a bankster, Who said “Hey Joe!” Need some money or a Hammerin’ Loan? Joe said sure, But I’m quite dead broke, After...

    The Ballad of Hammerin’ Joe

    By John Galt April 29, 2008 This is the story About Hammerin’ Joe, Hittin’ everything With his hammer you know, Then one day, He made a mighty hit, And broke his hammer, Into itty bitty bits. Along came a bankster, Who said “Hey Joe!” Need some money or a Hammerin’ Loan? Joe said sure, But I’m quite dead broke, After...

    Continue Reading...

  • By John Galt April 27, 2008 It was a weird experience this Saturday morning in April of 2010. I had never experienced walking right into the door of the Central Florida Gun Show at the Lakeland Civic Center as normally there was a long line waiting for the show to open. The armored car in the parking lot was a...

    Prepetorial#15: The Last Gun Show

    By John Galt April 27, 2008 It was a weird experience this Saturday morning in April of 2010. I had never experienced walking right into the door of the Central Florida Gun Show at the Lakeland Civic Center as normally there was a long line waiting for the show to open. The armored car in the parking lot was a...

    Continue Reading...

  • by John Galt April 20, 2008 Mike was stunned when his wife and kids accepted the offer to “get out of Dodge” and make a run for it. The “Springfield Slaughter” was all it took for the kids to be totally terrorized and the wife to finally say “okay prepperboy, you were right!” The FEMA food lines in Springfield, MO...

    Prepetorial #14: “The Arctic Express”

    by John Galt April 20, 2008 Mike was stunned when his wife and kids accepted the offer to “get out of Dodge” and make a run for it. The “Springfield Slaughter” was all it took for the kids to be totally terrorized and the wife to finally say “okay prepperboy, you were right!” The FEMA food lines in Springfield, MO...

    Continue Reading...

  • Jerichonomics Filed under: Old Posts — John Galt @ 9:08 am By John Galt April 16, 2008 You know it’s going to be a long year when you see this guy, uh yeah, him, Robert Hawkins from “Jericho” move in next door to your house. Immediately you think ” do I have all my preps in order and just how...

    Jerichonomics

    Jerichonomics Filed under: Old Posts — John Galt @ 9:08 am By John Galt April 16, 2008 You know it’s going to be a long year when you see this guy, uh yeah, him, Robert Hawkins from “Jericho” move in next door to your house. Immediately you think ” do I have all my preps in order and just how...

    Continue Reading...

  • by John Galt March 31, 2008 I. Intent The Founding Fathers had a vision where individuals were allowed to use their God given freedoms to use their own creativity, their own belief systems, and their own talents to work within a Capitalist system based on the principle of freedom. This freedom extended to all aspects to each and every citizen...

    Birth of A Nation

    by John Galt March 31, 2008 I. Intent The Founding Fathers had a vision where individuals were allowed to use their God given freedoms to use their own creativity, their own belief systems, and their own talents to work within a Capitalist system based on the principle of freedom. This freedom extended to all aspects to each and every citizen...

    Continue Reading...

  • by John Galt March 20, 2008 There is a time when everything in a moment of history coalesces or intersects as I have stated in the past. For purposes of discussion of the U.S. financial system and much of the markets, I think we have arrived or on the precipice of another such moment. The American financial system has been...

    The Wile E. Coyote Moment

    by John Galt March 20, 2008 There is a time when everything in a moment of history coalesces or intersects as I have stated in the past. For purposes of discussion of the U.S. financial system and much of the markets, I think we have arrived or on the precipice of another such moment. The American financial system has been...

    Continue Reading...

  • Municide By John Galt February 21, 2008 How the Suicidal Fiscal Behavior of Government at every level, Federal, State and Local will Crash the US Financial Markets “….In a report to the City Council last week, City Manager Joseph Tanner said the city faces a $10.1 million general fund operating deficit for the current fiscal year and a negative available...

    Municide

    Municide By John Galt February 21, 2008 How the Suicidal Fiscal Behavior of Government at every level, Federal, State and Local will Crash the US Financial Markets “….In a report to the City Council last week, City Manager Joseph Tanner said the city faces a $10.1 million general fund operating deficit for the current fiscal year and a negative available...

    Continue Reading...

  • February 7, 2008 By John Galt Jamie felt like a super safe scooter rider and ever so green for switching from her old car to her new Vespa. Once regular unleaded topped $4.59 per gallon she felt that she had to do something as her dad was paying for her college and auto expenses and it was just too much....

    Prepetorial#13: “Protect Our Resources”

    February 7, 2008 By John Galt Jamie felt like a super safe scooter rider and ever so green for switching from her old car to her new Vespa. Once regular unleaded topped $4.59 per gallon she felt that she had to do something as her dad was paying for her college and auto expenses and it was just too much....

    Continue Reading...

  • By John Galt February 6, 2008 Once upon a time there were three little pigs. Each of the little pigs had their own ideas but two of them went to public schools where they were trained in Keynesian idealism while the third little pig won a scholarship to Hillsdale and learned the Austrian economic theory. The first little pig took...

    The Three Little Pigs (Adjusted for Inflation)

    By John Galt February 6, 2008 Once upon a time there were three little pigs. Each of the little pigs had their own ideas but two of them went to public schools where they were trained in Keynesian idealism while the third little pig won a scholarship to Hillsdale and learned the Austrian economic theory. The first little pig took...

    Continue Reading...

  • By John Galt January 1, 2008 Sigh. There is a philosophical battle among the bears and doomers and it’s really quite frustrating as both parties are somewhat correct. This will be of the epic evolutions in history as one side says the housing crash and credit crisis will usher in another deflationary recession or depression a la the 1929 model,...

    Deflationerrory Thinking

    By John Galt January 1, 2008 Sigh. There is a philosophical battle among the bears and doomers and it’s really quite frustrating as both parties are somewhat correct. This will be of the epic evolutions in history as one side says the housing crash and credit crisis will usher in another deflationary recession or depression a la the 1929 model,...

    Continue Reading...