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 pressed charges was so embarrassing he just wanted to pay the fine and go home. The thing that bothered Mike was they were not calling people out of the cell as…


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“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 boy proudly proclaiming he stopped the ‘fishies’ from dying as the tide went out because he went “wee-wee” into the ocean for the first time in his life. These arrogant fools…


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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 insurance, and those who follow the sheeple bleating herd that goes “Baaaa, Baaaa, Baaabooyah!” To say that yours truly has not enjoyed the circus like atmosphere created by low volume rallies…


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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 all I’m just a Hammerin’ bloke, The bankster said fine, Don’t even start to whine, No money down is how To start a gold mine Joe said great, Where do I…


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 new, interesting twist as it has been two years since I had ventured into the show, but since the latest grocery store attack, security has been beefed up at all public…


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 where over three thousand people deep and when the food ran out a riot ensued. That was met, of course, with harsh action from machine gunners surrounding the area and two…


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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 do I survive like the TV show?” Please folks do not prep like life is a television show. Will you have to get ready for a nuclear attack? Do I have…


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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 of American life as long as it did not impair or impede on other individuals or the greater good of this nation. These freedoms and the vision our Founding Fathers had…


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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 the subject of jolt after jolt, shock after shock and now a final retreat from another phony rally, thanks to more suspect data points which did nothing but confirm the suspicions…


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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 fund balance of $5.9 million on June 30, 2008. “Based upon the updated financial projections, the current estimate for insolvency is late April 2008,” Tanner said. “It may become necessary for…


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. The scooter her family got her for Christmas was such a nice surprise and would save everyone a ton of money. Now that everyone who had a car or truck was…


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 one look at the other two and walked off muttering “you two are so ignorant! I’m taking advantage of my agricultural subsidies to build my house.” And with that he elected…


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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, while the other party says it will be 1979 with a dash of 1929 flavoring. I think the philosophical debates can be summed up in the words of the famous philosopher…


Prepetorial #12: Pass Over

By John Galt December 27, 2007 As the Wilson family approached the Alabama-Georgia border going east on I-20 they noticed a massive roadblock and detour. Karen said to her husband “honey, is that normal?” To which Frank replied “no, this is darned unusual, I don’t see any vehicles moving westbound on the interstate either. I wonder if there is another terrorist alert.” As they pulled off of the exit ramp for Highway 37 they noticed a military policeman waving them on through. This was a real pain to them as the…


Prepetorial#11: Desperation Preparation

By John Galt December 26, 2007 Ann and John had taken the trip from Nicholasville to Lancaster on US 27 south through Kentucky dozens, perhaps hundreds of times in their lives. And this trip to visit Ann’s Mom did not seem any different to them as they pulled out of town observing the changing colors of the leaves and the usual squatters just south of town in the tent city they had set up in a field. The recession was bad, but fortunately their faith in the government had kept them…


Prepetorial #10: One Flu over the Cuckoos Nest

By John Galt December 14, 2007 Amanda couldn’t handle it any longer. She was standing in the living room of the modest home in suburban Charlotte screaming at her husband Mike that he was not allowed to go into work under any circumstances. Mike, for what seemed like a daily occurrence calmly tried to reassure her and remind her that it was only a four day shift and that the problems would soon be passed as the FEMA and CDC officials assured the city officials of Matthews that the martial law…


Prepetorial #9: U.R.A.

By John Galt December 6, 2007 Officer Carmine Lewis tore the ticket out of his book and asked the elderly man to press hit thumb on the scanner on his ticket book. The old guy sneered and pressed his thumb down on the reader, mumbling under his breath. Lewis then proceeded to take a card out of the back of the book and read the man his rights: “Sir, you may pay this fine of 150 Ameros online. Otherwise you are required to show up at the Magistrate’s office on Thursday,…


Prepetorial#8: End of the System

By John Galt November 28, 2007 The final vote was Yeas 398, Nays 21 and with that announcement on the floor of the House of Representatives, the motion was forwarded to the U.S. Senate in a rapid manner. The date was November 3, 2011 and the legislation was on the fast track to pass both houses and to be signed by Madame President the moment it hit her desk. The business community lobbied hard but considering the economic conditions drastic action was necessary. The newspapers blared the headlines the next morning…


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Increasers and Decreasers

By John Galt November 25, 2007 So “decreasers” isn’t a word, so what? I took the liberty of using what I have elected to call the “Quayle Rule” in honor of my friend Steve Quayle who has a talented knack for creating just the right word for just the right occasion. And this occasion is what you might be asking yourself? If you’ve been paying attention to your wallet, your life and your job the last year or so, you’ll realize that there are aspects of our society and economy that…


Prepetorial #7: Friend or Foe

by John Galt November 23, 2007 Mayor Donaldson was sitting at his desk sorting through the new stack of memos and advisories from FEMA and HSA when Mary his secretary opened the door with a somewhat distraught look on her face. “Mary, are you okay?” he asked as she sputtered there’s a Lieutenant Colonel Marc Philips here to see you.” The Mayor cleaned the pile up on his desk and placed the FEMA memos on top of a neat pile in his inbox and uttered to her “show him in please.”…


Prepetorial #6: “Take Two Aspirin and Call me in October”

By John Galt November 20, 2007 As Karen looked at her husband Mike in utter panic, the realization that the Medical Services Administration was not going to help their child had sunk in. Their son was in his third day of running a fever and still having a problem retaining liquids. After the  nightmare trip to the emergency room after he cut his foot open outside, they were hitting the wall and so frustrated as well as worried. The intern who treated their son basically told them to clean the wound…


Prepetorial #5: Eat your Guns

By John Galt November 14, 2007   The temperature had to just be miserable today for May 14, 2011, as here I was at a WalMart supercenter queued up in a long line with every other hungry soul in the county it seemed. The radio was blaring the news and some music from the Voice of America, now broadcast on the A.M. radio around the clock as the war in Pakistan and Iran had everyone’s full attention. The announcer came on at 11 a.m. sharp to give the local news and…


Prepetorial #4: “I never knew…..”

By John Galt November 12, 2007 It was a typically boring Saturday afternoon in suburbia. It did not seem like just one year ago, the grocery stores and malls had been bombed across America by the Arabs, but “whatever” I thought as I settled down to another fine afternoon of college football. The usual highway checkpoint warnings were scrolling across the bottom of the screen but I did not care as I was in the safety of Mackinaw, IL, where our sheriff would have no part of the nonsense the big…


The Film Camera Dinosaur of the 21st Century: ATM’s

By John Galt November 8, 2007 Back in the 1990’s the digital camera became an affordable and more practical device with the introduction of higher quality printers, more powerful personal computers and users eager to get the latest technology without the inconveniences associated with film cameras. One company which dismissed the digital camera in it’s planning and marketing as a “fad” was Polaroid, formerly a leader in developing new camera technology. This dismissal was a fatal mistake that the company never recovered from and in 2001 they filed for bankruptcy protection…


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The Film Camera Dinosaur of the 21st Century: ATM’s

By John Galt November 8, 2007 Back in the 1990’s the digital camera became an affordable and more practical device with the introduction of higher quality printers, more powerful personal computers and users eager to get the latest technology without the inconveniences associated with film cameras. One company which dismissed the digital camera in it’s planning and marketing as a “fad” was Polaroid, formerly a leader in developing new camera technology. This dismissal was a fatal mistake that the company never recovered from and in 2001 they filed for bankruptcy protection…


Prepetorial #3: Running on Empty

By John Galt November 7, 2007 AS the digital counter displayed ‘4.50’ in the Gallons portion of the pump’s display, the shocking portion was the price which displayed $39.92 which shocked me every week. Despite the level of price controls imposed by the President’s Bureau of Economic Stabilization, it was still hard for me to grasp these prices. Since 4.5 gallons is all I was allocated each week, I removed the ECARD in frustration from the activation slot added to all gas pumps several months ago. The rationing program was working…


Prepetorial #2: Casino Currency

By John Galt November 3, 2007 As my wife and I entered the flea market, we understood the risks we took that day. Shopping for goods outside of the “registered” stores had become a Class 1 Misdemeanor for a first offense and the worst part was that you would be forced to take chip implantation if convicted as part of your sentence. This tracking chip served as your rationing card, probation officer, and national identification all rolled into one. The conversion to the new currency was not going well as illustrated…


Prepetorial #1: “I saw a flash”

By John Galt October 30, 2007 The following is my first “prepetorial”; a word I concocted to try to introduce the idea of “prepping” along with one of my editorials. The events in italic are completely fictitious and hopefully will never happen…. As I was meeting with my client in the town of Port Charlotte, about 45 miles from my home, the air seemed unusually warm for this October morning. The meeting did not go well as my customer was in no mood to purchase anything as he said “let’s see…


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The Case for a 50bp Fed Funds Rate Cut…

By John Galt October 29, 2007 A long time ago, in a galaxy far, far away……. Wrong story, but the theme song fits our current situation in more ways than one will ever know. This week that just ended on October 26th saw a tremendous fortune wagered that the Federal Reserve has to cut rates again this upcoming meeting. I find this discussion fascinating since in reality, the box that Greenspan built I still quite solid and has all of the governors trapped inside it (Can you imagine the smell by…


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1%

By John Galt October 24, 2007 1 percent. One out of one hundred. Ten out of one thousand. A miserably low number which neither indicates sway or influence on our economy unless it’s the billionaires making acquisitions, or in this case, a nightmare that is being propagated on the public with stories of fictitious origin and wishful thinking. The general public has used their NEA endorsed education to be so dumbed down, so mentally incapacitated to think on their own that they believe the Dow Jones Industrial Average is the measure…


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1%

By John Galt October 24, 2007 1 percent. One out of one hundred. Ten out of one thousand. A miserably low number which neither indicates sway or influence on our economy unless it’s the billionaires making acquisitions, or in this case, a nightmare that is being propagated on the public with stories of fictitious origin and wishful thinking. The general public has used their NEA endorsed education to be so dumbed down, so mentally incapacitated to think on their own that they believe the Dow Jones Industrial Average is the measure…


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Painting the Swan

October 11, 2007 By John Galt For the uninitiated, I am a historian by training and hobby, an op-ed writer and blogger by habit. Yes, to many this is a bad habit like smoking a pack of Camels per hour, but I continue to persist in this endeavor to harass the naysayers and those on the cruise ship sailing into disaster on the Denial River. After reading “The Black Swan” by Nicholas Taleb, one has to reflect on years ending in ‘7’ and the unfortunate habit of October being the month…


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Dow 15,000 and the Cartertocracy

September 18, 2007 By John Galt I would like to congratulate the absolute brilliance of putting an academic in charge of our nation’s economy. I was not sure what his academic qualifications were, but I did do a search to see if he wears his Romper Stompers when he makes policy. The logic of today’s decision and coordinated efforts to convince the sheeple that the U.S. dollar would rise in the face of these interest rate reductions was so will conceived, so contrived and so utterly unbelievable, that the bubblevisionistas did…


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Remember

September 11, 2007 By John Galt (Today, and with this posting, marks my 15,000th post on Timebomb2000. This place has become my internet home away from home where I’ve made some new friends and managed to upset some folks too. To this end, today is a day to remember the past and prepare for the future. Today is a day of reflection as crazy things continue to happen around us.) The one thing I shall never forget from this day is the sounds of that day. The television crews did not…


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The Final Stand of the “300”

By John Galt August 12, 2007 Some five thousand years ago and change, a brave group of three hundred Spartan soldiers stood on the grounds of Thermopylae determined to protect their homeland and the city states of Greece from the onslaught of Xerxes and his army. Despite the bravery and valiant efforts of those souls, they were slaughtered. This lesson in history should not go unheeded as futility can some times bring hope, renewal and the ability to turn defeat into a rallying cry for victory. This week’s financial markets are…


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The Black Pearl is Sinking

By John Galt August 8, 2007 On March 18, 2005, Rob Kirby wrote one of the best articles warning everyone about what the future of our markets might entail titled “Pirates of the Caribbean”. Unbelievably, the mainstream media could have picked up this story and exposed potentially one of the greatest financial stories of our time, but thanks to the historical gyrations and long predicted exposure to the fantasy known as “the greatest real estate market in American History” (NAR’s words, not mine) plus American Idol 19 (or whatever), it was…


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2:47

By John Galt August 5, 2007 At approximately 2:47 p.m. Eastern Daylight Time, on Friday August 3, 2007, an individual who used to control billions of investment dollars went nuts on the air. Not insane mind you, because his pleas were not totally unrealistic. Oh the begging was pathetic, the insults directed at “Helicopter Ben” and Bill “Shallow end of” Poole were flung without consideration (wait a second, did I just do that too?), nay, this was far greater than a personal admission of sorrow to suck someone into loaning money,…


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American Irrelevancy

by John Galt August 3, 2007 What if one morning, the world woke up and said “hey, we don’t need America any longer” and it became the new reality? That morning may well be starting not just in a geopolitical sense of the idea, but economically as well. The pomposity of our self-importance that we assign to every activity, every event, and every financial decision is being whittled away on a daily basis. The nations of the world are tired of our meddling both politically and economically. I know what I…


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Goldilocks Autopsy

by John Galt August 2, 2007 Despite the Fantasyland tickets being issued by the Bubblevisionistas, there is an extremely harsh reality sinking in to many war rooms across the other amusement park known as “Realityland” which is slowly hitting Mainstreetland. That harsh reality is that credit bubbles do actually go “pop” and can actually impact the day to day operations of the financial markets. The recent announcement that Bear Stearns has stopped redemptions on a third hedge fund is only one more indication that the game is almost up. It’s only…


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