Thursday, January 5, 2012

Accounting Trick Assets are no assets

Unicredit's company balance sheet shows $13.5 billion euros of "tax-deferred assets" – the value of the future tax savings UniCredit has earned by taking losses.

They are worth nothing if the bank doesn't return to profitability.

Unicredit lists $11.5 billion euros of goodwill – an intangible asset that's worth nothing if the bank doesn't survive.

That's $25 billion worth of assets that can't be traded or sold.

Are they really assets?

The Fall of Rome: What happened?

Rome squeezed the peasants for tithes until they abandoned their land and threw in their lot with the surrounding barbarians. TAE

Nicole Foss and company go on to say...

We can provide basic necessities if we prepare in advance.

We have to align our expectations with reality.

Our mindset is our belief that business as usual is non-negotiable, and must continue.

It will not continue because it cannot.

Reality will not negotiate, it will dictate, and we will have to live by that.

Wednesday, January 4, 2012

Ron Paul in Iowa

He's old, grey, bent and busted, a cratchey old guy that can't be trusted, however,


First the mainstream media says Ron Paul has no chance and almost won't let him debate.

They deliberately give him significantly less time in the debates and ignore him in polls.

He surges in the polls and looks as though he may win - the mainstream media begin regurgitating the line that if he wins in Iowa it will somehow besmirch the Iowa caucus reputation and it's relevant anyway

Days before the caucus is to be held the actual vote tallying is moved to a secret location.

The Republican Party openly "brokers deals" to defeat Paul with the other candidates and organizers.

It is announced that Romney is the decisive front runner despite there being only two percent difference between the first and third candidates.

Paul will win.