World’s Biggest Budget Crunch and a Very Big Ocean

Stacy Summary:   The CEO of BP uses the same argument that ‘financial engineers’ used – all those derivatives and debt spills happened in such a big ocean of the US & world economies that the little spills weren’t supposed to matter.

54 comments on “World’s Biggest Budget Crunch and a Very Big Ocean
  1. Mike/Liverpool says:

    Morning Stacy
    Gold got KILLED yesterday i see
    Mike

  2. stacyherbert says:

    @Mike/Liverpool – HOLY SH^T! GOLD PLUNGED BY .1%!!!!

  3. Mike/Liverpool says:

    I wonder if:-
    We see 1 Euro=$1=£1……then some sort of Brent woods 2?
    Mike

  4. Brandon Sanks says:

    It is so sad for those Coast folks Katrina and now this. This is just killing their tourism base.

  5. Mother Earth says:

    Big ocean? Then there is probably room for one BP oil executive right in the middle of it..

    If finance breaks down all that counts is muscle. At least if you are in need of something. The US will secure its oil in a war and force others to produce and the rest of the world will have to deal with it. This will breed corrosive terrorism in the US which will make it implode or become a well run prison camp. Primary stealth targets will be refineries outside China’s sphere of influence.

    Biowarfare as now seen in poppies in Afganistan could be extremely dangerous especially as the US crops don’t produce seeds. One Monsanto seed production harvest devestated and that’s it. No food.

    So it is very wise the IMF tries to keep the game going, very wise..

    Of course the alternative is renewabel wealth, unlimited and perpetual. Choir!

  6. Creative Destruction says:

    BP Execs – Gulf of Mexico is very big, oil spill is insignificant compared to ocean.

    Oil soaked dolphin – help, I’m dying here!

  7. More Tirades says:

    Stacy, you are the hottest woman in the world. We need more Stacy Herberts. Max, you are my idol. I want to make a small fortune trading options, and then pontificate on the corrupt nature of Wall Street with a super-smart, super-hot lady friend. You are king.

    I started trading options last month and it took me about a week to double my money. It’s very easy to make money with options, at least with my simple strategy, and I feel stupid for not doing this sooner. Your videos inspired me to get into derivatives, and it has been well worth it. My goal is to turn a few thousand into a few million within a year, and I am well on my way. So, thank you for (unintentionally) putting me on the ultra-fast path to retirement. It will be very nice to buy a house in the Caribbean and retire in my 20′s. I’ll sit in my redundant pool, overlooking the ocean, and condemn the financial terrorists. Women like guys with a sense of humor.

  8. Creative Destruction says:

    Dolphins, fish and sealife would love to waterboard BP execs, but with oil instead of water.

  9. You’ve probably seen this. On Afshin Ratansi’s facebook page.
    Goldman Sachs and new coalition. Evening standard.

    http://www.thisislondon.co.uk/standard-business/article-23834019-new-governments-hypocrisy-over-goldman-sachs-role.do

  10. Felixo says:

    @Mother Earth

    It’s renewabel energy, not wealth.

    The technology is here, but it’s kept secret.

  11. Max Power says:

    BP is not the only corporate entity having problems with technology this week

    http://en.wikipedia.org/wiki/Galaxy_15

    On April 5, 2010, Galaxy 15 ceased responding to commands sent to it by controllers on the ground. Without commands necessary for stationkeeping, it began to drift away from its allotted orbital slot. Its transponders remain operational, and are still broadcasting as of May 2010, despite all television signals having been transferred to other satellites.

    The Galaxy 12 satellite was removed from on-orbit storage to replace Galaxy 15 at its orbital slot. On 20 April, Orbital Sciences announced that they believed solar activity was responsible for the satellite malfunctioning. On 3 May, a series of strong signals intended to cause a power system malfunction were sent to Galaxy 15, however they had no effect.

    On May 12, 2010, Intelsat and SES World Skies confirmed that Galaxy 15 likely will drift into the orbital path of SES’s AMC 11, causing interference with cable programming over the United States since the two satellites operate on the same frequencies. Intelsat is unable to remotely steer Galaxy 15 to remain in its orbit after the satellite’s systems were knocked out.

    Between May 23 and June 7, 2010, Galaxy 15 will pass within half a degree of the AMC-11 satellite, which is operated by SES World Skies. As the two satellites pass close to each other, particularly during closest approach on 31 May and 1 June, signals from Galaxy 15′s still-active transponders could interfere with signals being broadcast by AMC-11. SES will attempt to maneuver the AMC-11 satellite to avoid the possibility of interference.

  12. Bill Stewart says:

    Galaxy 12, 14 and 15 don’t have beacon frequencies.

    However G15 does have WAAS, as the previous Wiki web page indicates.

    http://www.intelsat.com/resources/satellitedata-pas/beacon-freq.asp

  13. RJ says:

    The US and UK have not got the problem that the Euro countries have

    They can simple print money (issue BOE credit) to buy Govt (treasury) bonds. An easy solution and one that should (must) be used along with tighter capital requirements for the commercial banks.

    http://www.huffingtonpost.com/lynn-parramore/the-deficit-nine-myths-we_b_553527.html

    The Deficit: Nine Myths We Can’t Afford

  14. RJ says:

    Felixo

    It could be here but who knows.

    It isn’t wind or solar power. Maybe solar to a limited extend only.

  15. Palantíri says:

    Re: Stacy summary
    That same argument is being used by everyone. Even if you scaled it down to a single person level the same argument applies and works. We all think that whatever wrong we do it wouldn’t matter as the world is big and we so small – who will notice or who will care…

    @Felixo – the technology is here but it is not kept secret, it is just not economically sound enough to take over and with the lack of political will to force it thru it remains in the dark. It takes a looooong time to shift the energy use. Since the late 1700s wood fuel was the main source of energy even after coal got mined in greater ways and even though coal was cheaper and much more efficient than wood it still took it century to be the dominant energy source. As the coal started to become the dominant energy source by the late 1800s oil was found and harvested. It still took oil a good portion of a century to just break even with the coal as the main energy supply which happened around 1950s. Now as oil is the dominant source the “renewable energy” only starts to being explored and nothing major has come out of it to really take over on the long term. <- Still hoping though.

  16. Felixo says:

    @RJ

    Yes, it’s not the solar or wind.

    The computer that you are using to send this msg to this blog, is close to 50 years behind of “modern day” technology.

  17. Bonn says:

    http://news.bbc.co.uk/2/hi/asia-pacific/8682145.stm
    China restores Xinjiang internet
    China has restored access to the internet in the far western region of Xinjiang, ending 10 months of blocked or limited access.

    The restrictions were imposed after ethnic violence between the Muslim Uighurs and Han Chinese.

    China becomes USA and USA becomes China
    Hic ;-)

  18. Felixo says:

    @Palantíri

    What do you think NASA is?

  19. Bonn says:

    @ Felixo & @ RJ

    Yes, it’s not the solar or wind.

    I ‘ll let ya guys of ta hook
    Its gonna be tidal energy the moon lifts freakin Oceans
    Imagine we harness that energy ????????
    Unlimeted energy forever
    Only problem is we need to do more R & D on materials that can wek in harsh Environments such as Salty water
    Hic ;-)
    PS Maybe if Max & Stacy become Billionares tey will Invest in tis Technology
    that 1 Trill all into a black hole
    that 1 trill woulda found ta technology fer sure

  20. What-me-worry? says:

    RJ: it is sometimes called scalar energy and is the force which runs in concentric fields around N – S magnetic fields. A Scottish chap named Maxwell discovered it in the late 19 century and Tesla utlised the ‘buried’ data to produce zero energy devices. This technology has been ‘buried’ from the mainstream however there are NGO’s in US, Russia, China, Japan and most noteably India who have rediscovered it once again (Anderson Institute in US is one of them). These NGO’s are collaborating – biggest issue they face is how to impart zero energy into a fiercely protected oil based global economy financed by fiat currency and manipulated by puppet politicians.

    Astonishing. We are currently facing single global currency, ‘unified’ global government and servitude in a world of potential (no pun intended) free energy. If my mum finds out there’ll be hell to pay.

  21. Marc Authier says:

    @Stacy

    On t’aime ! :) Soo funny this Mikie ! Mike is really the melodramatic elliotist Prechter type. I imagine him checking the gold cotations each 1/1,000,000 of a second. He must have an automatic elliotist computer price prediction system extrapolating a 10$ an once for gold. Mike must be Bob Prechter groupie ?

  22. g7enn says:

    Worldwide Freezing of Iceland Tycoon’s Assets Requested

    A London court has requested the freezing of assets held by Icelandic tycoon Jon Asgeir Johannesson around the world, according to an announcement released by the winding-up committee of the Icelandic bank Glitnir last night. Moreover, the winding-up committee announced that Glitnir Banks case against Johannesson, who used to be the banks majority shareholder, began in the Supreme Court of the State of New York yesterday, visir.is reports.

    There are documents at hand which support the assumption that Glitnir Bank was robbed from the inside…

    http://www.parenting-healthy-children.com/Parenting.xml

  23. Bonn says:

    http://tinyurl.com/23esp44
    http://www.google.co.in/interstitial?url=http://shimas-hosting.com/unisun/tidal_energy.htm
    F@#k Google Warning – visiting this web site may harm your computer!
    http://shimas-hosting.com/unisun/tidal_energy.htm
    Blue Blistering Barnicles WTF is Google to tell me which Sites I can see or not ????????????
    Hic ;-)

  24. Palantíri says:

    @Felixo – RJ – Bonn – well solar power/solar energy is already being used by 97% of the earth . . .

    what do I think NASA is? besides the obvious answer, what are you hinting at? and what do you think it really is?

    ___
    Obama seeks $205 million for Israel rocket shield
    http://www.reuters.com/article/idUSTRE64C5JO20100513?type=politicsNews

  25. Bonn says:

    We are Change Ireland welcome Scumbag Rockefeller to Dublin
    http://www.youtube.com/watch?v=rRF2PtSUar0
    lololololool
    Hearing AJ and tis guy who confronted Rocky boy
    lolololol tey posed as students and said tey wanted one currency worldwide
    he (Rocky boy ) got so excited and tote the students were agreeing wit ‘em
    Hic ;-)

  26. Marc Authier says:

    By the way Mike, you should stop smoking funny grass. Gold is EXPLODING in price when you are in pounds or in euros.

    Mike, smoking is bad for health. Snorting powder is also bad Mike. He listenend in the past too much to Wall Street Week with Luis Ruykeiser.
    All great predictions about gold ans oil that were supposed to be dinosaures. Tchoo tchoo investments for your dying grandfather. Buy Nortel Networks and Worldcon Mike. How about Lucent Technology. :)

    GOLD IS A ROCKET GOING A MAC 99 MIKE ! And still there is just ONLY 1% of people in the world buying and physically in the posession the barbaric relic. Crashes happen when everybody wants it and have to get it Mikie. Mike is in pounds if I remember.

  27. Jo Blauw says:

    Monaco is a very big city,
    Luxembourg is a very big country,
    BP is a very small company?

  28. solipsist says:

    @ all: Got this link from one of your posts a few days ago, but don’t know anymore who’s it was.
    http://www.creditorsincommerce.com/videos-watch-cic-lt-001.php
    I went into it for about 90Min and am fascinated, but: what the hell is THIS about? Is it worth buying the stuff? Which side are they?
    Anyone knows more and wants to share his/hers views on this topics with me?

  29. Palantíri says:

    @Felixo – I think you are wrong there.

    As I think Max Keiser has said about the “move your money” campaign (which is an movement to end the abuse from the big banks) on the effort to take out money from the big corporations and put them into a small local bank won’t work because at some point the large banks will simply buy up the small ones.

    Similar I think will happen in the energy market, as new technology is being developed and introduced the old big guys will buy in to the new company and take it over. But they won’t change the company’s name so you can’t see them taking over, just as the world is today, a few top companies with an umbrella of many many different companies underneath with their own set of brand names.

  30. Bonn says:

    http://www.wearechange.ie/
    Minutes later, with a military escort, Ireland’s President McAleese arrives at the Dublin Trilateral Commission meeing just behind eugenisist Rockefeller. We Are Change call her out on her shameful behavior in fraternising with two of the biggest criminals on the planet, David Rockefeller and Henry Kissinger.

    lolololol
    WTG WTG
    ROFL
    Hic ;-)
    Tis buggers dont freakin kick ta bucket ??????????
    While tey kill actual Leaders

  31. Fiatmentalist says:

    Since what they are relly frightened of is one man with an original idea this website and comments automaticaly qualifies as being an “Enemy Cluster”

    “Revolution In Military Affairs – 1990 up
    to the present”

    http://popularsymbolism.com/mitaphane/rma-en.pdf

  32. R. Cain says:

    NY Post:

    ‘Police in northern Australia have received numerous calls about an aroused kangaroo that has been chasing female joggers, apparently with ill intent.
    “There was no doubt about what he wanted, the randy old thing,” said one woman.
    Police said they wouldn’t pursue the creature unless he caused further trouble.’

    http://www.nypost.com/p/news/weird_but_true/weird_but_true_PJSisRwRReNqI4cANOqlnJ

  33. Felixo says:

    Virtual “Money” Insanity

    http://www.youtube.com/watch?v=REfDCPhPQQ4

  34. Microhousehold says:

    Looks like the BP CEO has taken a ‘junk-shot’ himself.

  35. udee says:

    BP CEO is a lying criminal or an ignorant fool. If ignorant, he wouldn’t be a CEO.

    BP CEO, rope, tree – assembly required

  36. udee says:

    IMF says US faces biggest budge crunches … Gee – what a bunch of geniuses. Must be Harvard, or similar, educated.

    Solution – get rid of the IMF and their by co-criminal enablers – the “Federal Reserve” both “funded” by US tax slaves.

  37. Fiatmentalist says:

    “The Gulf of Mexico is a very big ocean”

    The BP CEO was also heard to say the following
    http://www.youtube.com/watch?v=9PR_rzF8ofw

  38. frances snoot says:

    Conway is a globalist. Why is the IMF writing sovereign decision for nations? Stiglitz indicates that the default of the US is an impossibility (under the dollar reserve system):

    http://www.businessinsider.com/stiglitz-says-idea-of-us-or-uk-defaulting-a-joke-2010-2

    He called is a JOKE in February.

    Is it still a joke in May? Or is the silent acquiescence to accept the rule of the IMF/BIS authority without a peep?

    There is no outward recovering throught the austerity decision: it is only setting us up for slavery under the new sdr (multilateral exchange rate) system.

    And there will be deaths. Quite a few.

  39. frances snoot says:

    My take is that as editor of the Telegraph, Conway knows exactly what is going on.

  40. stacyherbert says:

    @snoot – in the last paragraph of that Telegraph/Conway article he says the US will never go to the IMF but the dollar might collapse following a bout of hyperinflation . . . .

  41. frances snoot says:

    The Montpelerin Society has an essay contest:

    http://cafehayek.com/2010/03/mont-pelerin-society-contest.html

    “Examine whether authoritarian capitalism is a viable alternative to its Western liberal version, to promote long term economic growth and development.”

    The essay written should focus on the difference between the new reserve system (multilateral exchange rate system with sdr as index) as opposed to the old reserve system (dollar reserve system). The Western liberal version is on its way OUT: authoritarian capitalism is the new ticket to hell. And the difference is one of autonomy.

    Why is the IMF board being reformed to be more autonomous?

    Why the privatization of schools in the US (deleting the school board and public vote?) Why the privatization of public services?

    Who gets the VAT?

    Why austerity proscribed by every pundit under the sun?

    Because as bad as the old system was (as this site has maintained being quite right) the new system is worse. FAR FAR WORSE.

    Austerity measures will distance the people from decision inherent to their own well-being and advancement.

    The FED reserve system is moribund (by decision of the monetary authorities). The message that austerity is necessary is one of cruel intention.

  42. frances snoot says:

    When we are scraping ourselves with potsherds, will we finally get to be honest about things, Stacy? I’m referring to We the People, and not those who have made themselves comfortable in future through collusion.

    The US won’t go to the IMF? What, for the love of heaven, does that mean? The US Treasury is the IMF.

    And the EU will have more representation as a monetary and fiscal union on the IMF board than the US.

    So surely they are planning to end that veto right soon?

  43. frances snoot says:

    Bretton Woods 2=Keynesian Economics=Authoritarian Economics

    That’s my thesis for the essay. Think I’ll win the prize?

  44. frances snoot says:

    The upshot wouldn’t be an IMF bail-out, but a collapse in the dollar and possible hyperinflation in the US, but it would be horrific all the same. America has time, but not forever.

    What is the affect on the currencies of the sdr allotments, the sdr loans via World Bank/IMF, the IMF bond sales in sdr-denominated instruments, the sovereign wealth diversification into sdr-denominated financial instruments? Surely the US deficit is not the problematic here. Does Conway understand how the dollar value is indicated within the context of our international financial system?

    Does he need an ‘amateur’ to help him out here?

  45. frances snoot says:

    Love it: the US has two choices.

    Die or Die.

  46. frances snoot says:

    @Felixo:
    Yes. The profligacy of our lax and consumptive lifestyle. Well, don’t worry. That will soon end.

  47. Brandon Sanks says:

    If King Dollar goes or it is devauled by by lets say 75% you will have riots that will make the 60′s look like child’s play. It will a total disaster! I’m preparing for it however.

  48. Brandon Sanks says:

    I could see the UK breaking up in the next 10 years. Scots has always had national dreams and they have much support for it on both sides of the border. I could see a Scottish-Irish union between Scotland and Northern Ireland the union of Celtic peoples. There isn’t enough support for a United Ireland so this might be the alternative. The election last week showed the Scot-anglo deeper than ever. Scotland elected 1 tory out of 59 seats and yet the tories nearly won a majority anyways. Scotland has always been Labour but the divide was just much deeper this time.

  49. Hollow man says:

    Finaly theworld is starting to talk aloud about the croupption that is the US system. Now begining to relize it really is lies on top of lies to enrich the few at the expense of us. Funny how my fellow Americans just don’t seem to care. I really do not understad it.

  50. Theodore says:

    Collude my ass. I’m just a simple carpenter and I have not had the opportunity to work my ass off for very little money in over a year. My wife left me so I plant beans in my garden. The casino was never enough. I can’t help but touch myself. I used to build houses now I get shitty little remodels and fill my time in the self help sex trade. Witch makes me a wanker. I recon it costs me something though. So I add to the economy with great efficiency. I like to touch my money. I like to see my money grow. It may not be your idea of gold, but I can hold it in my hands. If you ever want to lay those feckers down consider yourself underemployed. Just never forget. You came, you saw, you jerk. And besides, Who the Buddha? You the Buddha?

    Sorry if that seems out of context, but I didn’t want to read the crap you wrote. I might be possessed buy Fungusaonegus. God help us All

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