re is one example out of millions that are playing out. I know of a young couple in my small town in Texas where a man and women have been living together for several years and have 3 children. They refuse to get married because as a single mom she gets get over $15,000 per year from the federal government in cash. In addition she got a home mortgage where the government pays about half of the mortgage. There are also other bennies, day care, children lunches, medical etc.paid by the state, so maybe the total is over $20,000 per year.
That is where the money in your Social Security Trust Fund is going. One of the reasons it is depleted and replaced with IOUs.
<< <i>I look at a potential repatriation from a different viewpoint. If companies were to bring this cash back home, then that means selling of Euro, Cando, Aussie, Pesos, ect and buying of dollars. >>
Who's to say what currency the foreign reserves are held in? I don't know a lot about this but I'm not sure it would be accurate to assume that a good portion of the reserves aren't held in USD. >>
I see no reason why KO or PEP or IBM would convert their Aussie profits into $US and hold them in Australia. That wouldnt serve any purpose as usually this money is reinvested in that country. Profits are usually held in the currency in which they are earned, perhaps with the exception of unstable currencies such as Rubles or Burmese Kyat.
<< <i>Europe cant even bail themselves out. America to the rescue--again. >>
US participation is to protect American banks that hold bad European debt and not just that sold by Greece. I believe any quasi-successful bailout will have to include the IMF.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Europe cant even bail themselves out. America to the rescue--again. >>
US participation is to protect American banks that hold bad European debt and not just that sold by Greece. I believe any quasi-successful bailout will have to include the IMF. >>
You're probably right. And if Europe needs IMF help, then the Euro as a currency should be viewed as no better than a ruble or peso.
<< <i>Europe cant even bail themselves out. America to the rescue--again. >>
US participation is to protect American banks that hold bad European debt and not just that sold by Greece. I believe any quasi-successful bailout will have to include the IMF. >>
You're probably right. And if Europe needs IMF help, then the Euro as a currency should be viewed as no better than a ruble or peso. >>
I believe that not even the IMF will be able to keep the European Monetary Union intact.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I look at a potential repatriation from a different viewpoint. If companies were to bring this cash back home, then that means selling of Euro, Cando, Aussie, Pesos, ect and buying of dollars. >>
Who's to say what currency the foreign reserves are held in? I don't know a lot about this but I'm not sure it would be accurate to assume that a good portion of the reserves aren't held in USD. >>
I see no reason why KO or PEP or IBM would convert their Aussie profits into $US and hold them in Australia. That wouldnt serve any purpose as usually this money is reinvested in that country. Profits are usually held in the currency in which they are earned, perhaps with the exception of unstable currencies such as Rubles or Burmese Kyat. >>
IBM announced a couple years back it would hold all of it's cash in dollars.
"it is my belief that if the contagion spreads from Greece to Portugal (or Italy or Spain), and then to the big banks of France and Germany in such a way that they fail, then rather than strengthening the dollar's role (as nearly everyone expects), we should reserve some concern for the idea that the contagion will instead jump the pond and chew its way through the US financial superstructure. - Chris Martenson
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Some amazing stories. BOA is a ticking time bomb. I would never put a dime in an account at that bank, even though I'm sure it will be fully guaranteed by the government.
As far as the massive overtime pay, it would be nice of movements like OWS would address these issues as well. Someone needs to be accountable when a story like that comes out. Probably not the worker - but the management that created or allowed conditions that created the need or ability for a worker to work that much. At some point there's management that's responsible. And then of course it would be great if OWS would focus in on a specific, legitimate complaint: holding people accountable for the bailouts and mortgage mess. So far, who has gone to jail or been prosecuted?
In a society without repurcussions or penalties, the fraud and corruption will only continue grow. If I was smarter, I'd be figuring out how to get my share. There's the old saying, "I either want less corruption or more oppurtunity to participate in it."
As far as the massive overtime pay, it would be nice of movements like OWS would address these issues as well. Someone needs to be accountable when a story like that comes out. Probably not the worker - but the management that created or allowed conditions
Agreed. Problem is the public unions are the management that created the conditions and the public unions are largely behind OWS. OWS is probably just a smokescreen to keep attention off abuses of public power.
Excessive overtime pay and retirement benefits are bailouts much in the same was as bank bailouts. The money for both comes from you and I.
Pretty soon the lowly paid firemen will jump in and mention that that CAL nurse is just an anomoly. Nothing to see just move along. Public employees are all underpaid and under appreciated
<< <i>Pretty soon the lowly paid firemen will jump in and mention that that CAL nurse is just an anomoly. Nothing to see just move along. Public employees are all underpaid and under appreciated >>
He don't have to, you just did it for him. Some are beginning to sound like socialist, you want to take from someone else to give to whom? That nurse is us, that fireman is us, its amazing how easy it is to fall into the medias extremism and take up the mantle and run with it. Not saying there are not abuses but lets stop the abuses and not take the all or nothing stance.
Everytime something or someone seems to do well there are always some that come along and say its not fair, where is mine, me me me me me .......
NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
<< <i> Excessive overtime pay and retirement benefits are bailouts much in the same was as bank bailouts. The money for both comes from you and I. >>
OK, I don't get the correlation between bank bailouts and someone working the hours and receiving their agreed on pay, or someone working faithfully for 20-30 years and receiving their agreed upon retirement. What have the Banks done to deserve our bailouts, have they put in the hours serving us or have they been looting the system all these years, and figuring out the most insidious ways of ripping off the public. I think there is a huge fundamental difference between the two.
NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
The banks didnt deserve to be bailed out. But this is what everyone misunderstands. When the G gave the money to the banks it was to REPLACE YOUR money that the banks LOST. Had the G not put money in the banks, your savings and checking account statements in Nov 2008 would have read---Balance=0.
When the banks were bailed out, so were we.
Reublic sectors workers---many of them game the system just as many of the banks do. No difference.
The banks didnt deserve to be bailed out. But this is what everyone misunderstands. When the G gave the money to the banks it was to REPLACE YOUR money that the banks LOST. Had the G not put money in the banks, your savings and checking account statements in Nov 2008 would have read---Balance=0.
When the banks were bailed out, so were we.
Public sectors workers---many of them game the system just as many of the banks do. No difference. >>
I Do agree there are excesses both in the overtime allowed and the retirement manipulation of the last three and one year of employment called spiking. These examples should be stopped so the employees don't get thrown out with the real culprits that have allowed these abuses.
NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
The banks didnt deserve to be bailed out. But this is what everyone misunderstands. When the G gave the money to the banks it was to REPLACE YOUR money that the banks LOST. Had the G not put money in the banks, your savings and checking account statements in Nov 2008 would have read---Balance=0.
When the banks were bailed out, so were we.
That's not how it was supposed to work. That's why they formed FDIC in the first place, so that if the banks went under, the depositors were still covered. The small regional and local banks are still going under weekly, and are not being bailed out. Explain that one.
The bankruptcy laws were in place to handle this very scenario, but the power players in Washington had too much to lose. I am convinced that Henry Paulson (fresh out of Goldman Sachs, who benefited from AIG's bailout) and Geithner (who was at the NY Fed at the time - in charge of Treasury auctions) stood to lose their own personal fortunes without TBTF bailouts.
The failed banks that created the housing mess should have been liquidated and their bosses should have been kicked to the curb without a dime. The Treasury had no authority to give taxpayer money to cover the TBTF private bankers' gambling debts, and the shysters in Congress who voted for giving money to their banking patrons should've gone to jail for stealing public funds. It's that simple.
We weren't bailed out by anyone. We were stolen from.
Q: Are You Printing Money? Bernanke: Not Literally
Even if the FDIC were able to replace all the insured losses it would take a while to get it done. It could be months before J6P saw his insured deposits covered. With the big banks going down altogether, that would essentially crash the stock and bond markets....taking J6P's 401K down with it. The losses would be much closer to 100% than they would be to 0%. While I don't condone bailing out the big banks, a nationwide financial market crash lasting weeks or months certainly would have hit J6P very hard. That tsunami would have been felt across all economic sectors. It would be sort of like going from October 1929 to the depths of the depression in 1932 in essentially a couple of days. Economic activity based on credit would soon cease leaving barter and currency to take over. Store shelves would be emptied within 1-3 days and unless you had weeks/months of water/fuel/food stored up, you'd be in deep trouble. Maybe merchants would refuse to take cash at some point preferring barter-like items.
Probably so, roadrunner. Probably so. Our modern supply chains are vulnerable to disruption, in my opinion. I don't know that keeping the big banks afloat did anything to bolster anything except electronic money. J6P's 401K is still based on a house of cards, but at least it's still standing.
Q: Are You Printing Money? Bernanke: Not Literally
The small regional and local banks are still going under weekly, and are not being bailed out. Explain that one
We have 8000 banks and simply dont need that many. Not all banks are run well, just as some companies dont have great management. Some will fail, as they should.
I also dont think the banks caused the housing problems. That ball got rolling with Clinton and pushed further by Bush and the Congresses associated with both Presidents. Freddie Mac and Fannie Mae and Congressional leaders caused the mess. They kept saying "Everyone should own a home", but never thought the consequences after everyone already bought.
Not including the many thousands of atms, one on almost every corner of every major arterial in every urban area and more than one per block down town. Makes me think there is a lot of money to be made in giving people access to their cash. The strange thing is that most folks don't have $50 buks cash in their wallets...things that make me go hummmmmmmmm.
Socialism, socialism, socialism, what the Wall Street protesters and the complainants around the world just refuse to understand is that it is not the rich that have created these worldwide problems it is them!
The trillions of dollars in losses and debt is cause by the millions of them that want free stuff, and even now they want more.
The housing problem was caused by socialism that demanded home ownership for every one.
How long can you send people tax refunds when they paid nothing in?
How long can we continue to provide free medical care for the millions that cannot pay? The health care system is a mess because of government demands.
Housing is a mess because of government demands.
Social security is a mess because the government spent all the money somewhere else.
The military spending is out of control because government spending in this area is out of control.
We have no energy policy because of government.
We buy obscene amounts of products from China and Japan because the government needs to borrow the money to pay for SOCIALISM.
When do you think we will see millions march on Washington and demand that they get no more checks of any kind from the government? NEVER!
These socialists systems around the world are unsustainable, and the crashes of these systems are being delivered slowly but surely, so be prepared.
Yes it may take several more years before there are no more lenders, and several years of printing before the collapses, but as sure as the sun comes up every day all these systems are going down.
<< <i>Socialism, socialism, socialism, what the Wall Street protesters and the complainants around the world just refuse to understand is that it is not the rich that have created these worldwide problems it is them!
The trillions of dollars in losses and debt is cause by the millions of them that want free stuff, and even now they want more.
The housing problem was caused by socialism that demanded home ownership for every one.
How long can you send people tax refunds when they paid nothing in?
How long can we continue to provide free medical care for the millions that cannot pay? The health care system is a mess because of government demands.
Housing is a mess because of government demands.
Social security is a mess because the government spent all the money somewhere else.
The military spending is out of control because government spending in this area is out of control.
We have no energy policy because of government.
We buy obscene amounts of products from China and Japan because the government needs to borrow the money to pay for SOCIALISM.
When do you think we will see millions march on Washington and demand that they get no more checks of any kind from the government? NEVER!
These socialists systems around the world are unsustainable, and the crashes of these systems are being delivered slowly but surely, so be prepared.
Yes it may take several more years before there are no more lenders, and several years of printing before the collapses, but as sure as the sun comes up every day all these systems are going down. >>
MacDILL AIR FORCE BASE, Fla. — The Obama administration plans to bolster the American military presence in the Persian Gulf after it withdraws the remaining troops from Iraq this year, according to officials and diplomats. That repositioning could include new combat forces in Kuwait able to respond to a collapse of security in Iraq or a military confrontation with Iran.
We have 8000 banks and simply dont need that many. Not all banks are run well, just as some companies dont have great management. Some will fail, as they should.
I'd rather have 8,000 small to medium size banks and have a portion of them periodically fail due to lack of business acumen than to have 6 or 8 gigantic bureaucracies who can't get out of their own way and have to exist by bleeding the same taxpayers that they make loans to as part of their business livelihood - with bailouts for their corrupt/bungling bank officers. That just doesn't make any sense at all.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>Socialism, socialism, socialism, what the Wall Street protesters and the complainants around the world just refuse to understand is that it is not the rich that have created these worldwide problems it is them! The trillions of dollars in losses and debt is cause by the millions of them that want free stuff, and even now they want more. >>
Apparently this was a viral email that was going around.....
We are wall Street…we are smarter and more vicious than [dinosaurs]‘
Posted by Stacy-Marie Ishmael on Apr 30 19:19.
If anyone knows who wrote the following email, which has been pinging around Wall Street and across prop desks, tell ‘em get in touch with FT Alphaville. We like the writing style.
“We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.
Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.
Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.
For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We’re going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I’ll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.
So now that we’re going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.
The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it’s really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.
We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?”
"We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that."
Nice. Could they turn to coins for a couple of years...the market is a little soft for my taste.
BTW, I have been looking long and hard ----5am -10pm...if you will...for the pension system that backs up the federal retirement plan. Can anybody help me?
I think it would be just fine if they all washed cars, did landscaping, flipped burgers and worked hard without pensions and union representations. They'd be productive members of society, and something for all the MBA students to emulate.
<< <i>Apparently this was a viral email that was going around.....
We are wall Street…we are smarter and more vicious than [dinosaurs]‘
Posted by Stacy-Marie Ishmael on Apr 30 19:19.
If anyone knows who wrote the following email, which has been pinging around Wall Street and across prop desks, tell ‘em get in touch with FT Alphaville. We like the writing style.
“We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.
Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.
Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.
For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We’re going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I’ll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.
So now that we’re going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.
The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it’s really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.
We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?” >>
Replaced the one with the music in the backround to just what's important to some of us. >>
Here's something we can agree on.
Where we diverge is I don't believe it is possible to fix this by voting for the right people. The same people are running both parties. >>
I never said I believed that voting could do a dang thing. So we agree on that point. It's way far gone and it ain't coming back and my belief that Americans ( in general ) are clueless about liberty and would "vote" for MORE government not less and would protest in the streets if necessary to get it, I've been proved right and will be proved right again and again on that issue. Don't know if you go that far with it but I do. Both parties are both bankrupting the place.
Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs.
I'd call that bluff in a heartbeat.
Funny how it's the same logic used to justify sanctuary for illegal aliens.
I guess I am a good example of the way most upper middle class folks are thinking now. I dodged a bullet yesterday and did NOT buy that motorhome my wife has been searching for for several months. We got right down to signing the agreement and I just called it off. After looking at the interest on just half of the purchase price, the 6.35% in sales taxes, the insurance rates, the price of gas, and the lousy economy, I just decided to keep my 11 year old model.
Oh, and I agree with this,
“I never said I believed that voting could do a dang thing. So we agree on that point. It's way far gone and it ain't coming back and my belief that Americans ( in general ) are clueless about liberty and would "vote" for MORE government not less and would protest in the streets if necessary to get it, I've been proved right and will be proved right again and again on that issue. Don't know if you go that far with it but I do. Both parties are both bankrupting the place.”
I do believe it might take as long as ten more years for us to go completely down the tubes as the real printing of money has yet to begin.
•The retiree health benefit pre-funding payment postponed by Congress and the President is now due by Nov. 18. Unless additional legislation is enacted, the Postal Service will be forced to default on this payment
Yep, this is going to have to unravel in China eventually. 5-10 yrs from now we'll be reading articles on how much of the econ statistics were hyped up by the Chicom govt. Of course our local media hasn't yet caught on, what's news. Gucci stores, empty shopping malls and $5700 per capita income don't add up. Massive overbuilding, just look at the skylines. Now dropping real estate prices. Sound familiar?
Comments
That is where the money in your Social Security Trust Fund is going. One of the reasons it is depleted and replaced with IOUs.
Box of 20
Or, maybe not - read about banks in general.
Linked from Sinclair...
I knew it would happen.
<< <i>
<< <i>I look at a potential repatriation from a different viewpoint. If companies were to bring this cash back home, then that means selling of Euro, Cando, Aussie, Pesos, ect and buying of dollars. >>
Who's to say what currency the foreign reserves are held in? I don't know a lot about this but I'm not sure it would be accurate to assume that a good portion of the reserves aren't held in USD. >>
I see no reason why KO or PEP or IBM would convert their Aussie profits into $US and hold them in Australia. That wouldnt serve any purpose as usually this money is reinvested in that country. Profits are usually held in the currency in which they are earned, perhaps with the exception of unstable currencies such as Rubles or Burmese Kyat.
Knowledge is the enemy of fear
http://www.reuters.com/article/2011/10/25/us-eurozone-imf-leveraging-idUSTRE79O5L420111025?feedType=RSS&feedName=businessNews&utm_source=dlvr.it&utm_medium=twitter&dlvrit=56943
Knowledge is the enemy of fear
<< <i>Europe cant even bail themselves out. America to the rescue--again. >>
US participation is to protect American banks that hold bad European debt and not just that sold by Greece. I believe any quasi-successful bailout will have to include the IMF.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Europe cant even bail themselves out. America to the rescue--again. >>
US participation is to protect American banks that hold bad European debt and not just that sold by Greece. I believe any quasi-successful bailout will have to include the IMF. >>
You're probably right. And if Europe needs IMF help, then the Euro as a currency should be viewed as no better than a ruble or peso.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>Europe cant even bail themselves out. America to the rescue--again. >>
US participation is to protect American banks that hold bad European debt and not just that sold by Greece. I believe any quasi-successful bailout will have to include the IMF. >>
You're probably right. And if Europe needs IMF help, then the Euro as a currency should be viewed as no better than a ruble or peso. >>
I believe that not even the IMF will be able to keep the European Monetary Union intact.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>
<< <i>I look at a potential repatriation from a different viewpoint. If companies were to bring this cash back home, then that means selling of Euro, Cando, Aussie, Pesos, ect and buying of dollars. >>
Who's to say what currency the foreign reserves are held in? I don't know a lot about this but I'm not sure it would be accurate to assume that a good portion of the reserves aren't held in USD. >>
I see no reason why KO or PEP or IBM would convert their Aussie profits into $US and hold them in Australia. That wouldnt serve any purpose as usually this money is reinvested in that country. Profits are usually held in the currency in which they are earned, perhaps with the exception of unstable currencies such as Rubles or Burmese Kyat. >>
IBM announced a couple years back it would hold all of it's cash in dollars.
How Contagion Will Spread to the US
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
roadrunner
BOA
Jean Keller earned $269,810 last year working as a nurse at a men’s prison on California’s central coast by tripling her regular pay with overtime hours
Knowledge is the enemy of fear
As far as the massive overtime pay, it would be nice of movements like OWS would address these issues as well. Someone needs to be accountable when a story like that comes out. Probably not the worker - but the management that created or allowed conditions that created the need or ability for a worker to work that much. At some point there's management that's responsible. And then of course it would be great if OWS would focus in on a specific, legitimate complaint: holding people accountable for the bailouts and mortgage mess. So far, who has gone to jail or been prosecuted?
In a society without repurcussions or penalties, the fraud and corruption will only continue grow. If I was smarter, I'd be figuring out how to get my share. There's the old saying, "I either want less corruption or more oppurtunity to participate in it."
Agreed. Problem is the public unions are the management that created the conditions and the public unions are largely behind OWS. OWS is probably just a smokescreen to keep attention off abuses of public power.
Excessive overtime pay and retirement benefits are bailouts much in the same was as bank bailouts. The money for both comes from you and I.
Knowledge is the enemy of fear
So a Vette guy tells me to put after market in it that it will function better.
Ahhh well
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Pretty soon the lowly paid firemen will jump in and mention that that CAL nurse is just an anomoly. Nothing to see just move along. Public employees are all underpaid and under appreciated
He don't have to, you just did it for him. Some are beginning to sound like socialist, you want to take from someone else to give to whom?
That nurse is us, that fireman is us, its amazing how easy it is to fall into the medias extremism and take up the mantle and run with it.
Not saying there are not abuses but lets stop the abuses and not take the all or nothing stance.
Everytime something or someone seems to do well there are always some that come along and say its not fair, where is mine, me me me me me .......
<< <i>
Excessive overtime pay and retirement benefits are bailouts much in the same was as bank bailouts. The money for both comes from you and I. >>
OK, I don't get the correlation between bank bailouts and someone working the hours and receiving their agreed on pay, or someone working faithfully
for 20-30 years and receiving their agreed upon retirement. What have the Banks done to deserve our bailouts, have they put in the hours serving us or have they been looting the system all these years, and figuring out the most insidious ways of ripping off the public. I think there is a huge fundamental difference between the two.
What have the Banks done to deserve our bailouts
The banks didnt deserve to be bailed out. But this is what everyone misunderstands. When the G gave the money to the banks it was to REPLACE YOUR money that the banks LOST. Had the G not put money in the banks, your savings and checking account statements in Nov 2008 would have read---Balance=0.
When the banks were bailed out, so were we.
Re
Knowledge is the enemy of fear
<< <i>You overlooked this word --"Excessive".
What have the Banks done to deserve our bailouts
The banks didnt deserve to be bailed out. But this is what everyone misunderstands. When the G gave the money to the banks it was to REPLACE YOUR money that the banks LOST. Had the G not put money in the banks, your savings and checking account statements in Nov 2008 would have read---Balance=0.
When the banks were bailed out, so were we.
Public sectors workers---many of them game the system just as many of the banks do. No difference. >>
I Do agree there are excesses both in the overtime allowed and the retirement manipulation of the last three and one year of employment called spiking. These examples
should be stopped so the employees don't get thrown out with the real culprits that have allowed these abuses.
When the banks were bailed out, so were we.
That's not how it was supposed to work. That's why they formed FDIC in the first place, so that if the banks went under, the depositors were still covered. The small regional and local banks are still going under weekly, and are not being bailed out. Explain that one.
The bankruptcy laws were in place to handle this very scenario, but the power players in Washington had too much to lose. I am convinced that Henry Paulson (fresh out of Goldman Sachs, who benefited from AIG's bailout) and Geithner (who was at the NY Fed at the time - in charge of Treasury auctions) stood to lose their own personal fortunes without TBTF bailouts.
The failed banks that created the housing mess should have been liquidated and their bosses should have been kicked to the curb without a dime. The Treasury had no authority to give taxpayer money to cover the TBTF private bankers' gambling debts, and the shysters in Congress who voted for giving money to their banking patrons should've gone to jail for stealing public funds. It's that simple.
We weren't bailed out by anyone. We were stolen from.
I knew it would happen.
With the big banks going down altogether, that would essentially crash the stock and bond markets....taking J6P's 401K down with it. The losses would be much
closer to 100% than they would be to 0%. While I don't condone bailing out the big banks, a nationwide financial market crash lasting weeks or months certainly
would have hit J6P very hard. That tsunami would have been felt across all economic sectors. It would be sort of like going from October 1929 to the depths of the
depression in 1932 in essentially a couple of days. Economic activity based on credit would soon cease leaving barter and currency to take over. Store shelves would
be emptied within 1-3 days and unless you had weeks/months of water/fuel/food stored up, you'd be in deep trouble. Maybe merchants would refuse to take cash at
some point preferring barter-like items.
roadrunner
I knew it would happen.
We have 8000 banks and simply dont need that many. Not all banks are run well, just as some companies dont have great management. Some will fail, as they should.
I also dont think the banks caused the housing problems. That ball got rolling with Clinton and pushed further by Bush and the Congresses associated with both Presidents. Freddie Mac and Fannie Mae and Congressional leaders caused the mess. They kept saying "Everyone should own a home", but never thought the consequences after everyone already bought.
Knowledge is the enemy of fear
Not including the many thousands of atms, one on almost every corner of every major arterial in every urban area and more than one per block down town. Makes me think there is a lot of money to be made in giving people access to their cash. The strange thing is that most folks don't have $50 buks cash in their wallets...things that make me go hummmmmmmmm.
The trillions of dollars in losses and debt is cause by the millions of them that want free stuff, and even now they want more.
The housing problem was caused by socialism that demanded home ownership for every one.
How long can you send people tax refunds when they paid nothing in?
How long can we continue to provide free medical care for the millions that cannot pay?
The health care system is a mess because of government demands.
Housing is a mess because of government demands.
Social security is a mess because the government spent all the money somewhere else.
The military spending is out of control because government spending in this area is out of control.
We have no energy policy because of government.
We buy obscene amounts of products from China and Japan because the government needs to borrow the money to pay for SOCIALISM.
When do you think we will see millions march on Washington and demand that they get no more checks of any kind from the government? NEVER!
These socialists systems around the world are unsustainable, and the crashes of these systems are being delivered slowly but surely, so be prepared.
Yes it may take several more years before there are no more lenders, and several years of printing before the collapses, but as sure as the sun comes up every day all these systems are going down.
<< <i>Socialism, socialism, socialism, what the Wall Street protesters and the complainants around the world just refuse to understand is that it is not the rich that have created these worldwide problems it is them!
The trillions of dollars in losses and debt is cause by the millions of them that want free stuff, and even now they want more.
The housing problem was caused by socialism that demanded home ownership for every one.
How long can you send people tax refunds when they paid nothing in?
How long can we continue to provide free medical care for the millions that cannot pay?
The health care system is a mess because of government demands.
Housing is a mess because of government demands.
Social security is a mess because the government spent all the money somewhere else.
The military spending is out of control because government spending in this area is out of control.
We have no energy policy because of government.
We buy obscene amounts of products from China and Japan because the government needs to borrow the money to pay for SOCIALISM.
When do you think we will see millions march on Washington and demand that they get no more checks of any kind from the government? NEVER!
These socialists systems around the world are unsustainable, and the crashes of these systems are being delivered slowly but surely, so be prepared.
Yes it may take several more years before there are no more lenders, and several years of printing before the collapses, but as sure as the sun comes up every day all these systems are going down. >>
MacDILL AIR FORCE BASE, Fla. — The Obama administration plans to bolster the American military presence in the Persian Gulf after it withdraws the remaining troops from Iraq this year, according to officials and diplomats. That repositioning could include new combat forces in Kuwait able to respond to a collapse of security in Iraq or a military confrontation with Iran.
Bwahahahahahahahaha!
Nobel Peace Prize?
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
And Happy Halloween
Ron Paul Current Conditions or Just a Bad Dream
Replaced the one with the music in the backround to just what's important to some of us.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I'd rather have 8,000 small to medium size banks and have a portion of them periodically fail due to lack of business acumen than to have 6 or 8 gigantic bureaucracies who can't get out of their own way and have to exist by bleeding the same taxpayers that they make loans to as part of their business livelihood - with bailouts for their corrupt/bungling bank officers. That just doesn't make any sense at all.
I knew it would happen.
<< <i>Socialism, socialism, socialism, what the Wall Street protesters and the complainants around the world just refuse to understand is that it is not the rich that have created these worldwide problems it is them! The trillions of dollars in losses and debt is cause by the millions of them that want free stuff, and even now they want more. >>
Amen Bro! Agreed 100%. We can't fix stupid! --aap
We are wall Street…we are smarter and more vicious than [dinosaurs]‘
Posted by Stacy-Marie Ishmael on Apr 30 19:19.
If anyone knows who wrote the following email, which has been pinging around Wall Street and across prop desks, tell ‘em get in touch with FT Alphaville. We like the writing style.
“We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.
Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.
Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.
For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We’re going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I’ll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.
So now that we’re going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.
The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it’s really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.
We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?”
Knowledge is the enemy of fear
Very nicely put...
BTW, I have been looking long and hard ----5am -10pm...if you will...for the pension system that backs up the federal retirement plan. Can anybody help me?
<< <i>Apparently this was a viral email that was going around.....
We are wall Street…we are smarter and more vicious than [dinosaurs]‘
Posted by Stacy-Marie Ishmael on Apr 30 19:19.
Joe Mainstreet our food supply…will he? and will they?” >>
Sounds like someone on these boards.
Here's a warning parable for coin collectors...
Knowledge is the enemy of fear
<< <i>Apparently this was a viral email that was going around.....
We are wall Street…we are smarter and more vicious than [dinosaurs]‘
Posted by Stacy-Marie Ishmael on Apr 30 19:19.
If anyone knows who wrote the following email, which has been pinging around Wall Street and across prop desks, tell ‘em get in touch with FT Alphaville. We like the writing style.
“We are Wall Street. It’s our job to make money. Whether it’s a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn’t matter. We would trade baseball cards if it were profitable. I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.
Well now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat. God knows there has to be one for everything. Well, here we are.
Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’t retire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.
For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping? We’re going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are so-o-o-o underpaid for building the youth of America. Say goodbye to your overtime and double time and a half. I’ll be hitting grounders to the high school baseball team for $5k extra a summer, thank you very much.
So now that we’re going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.
The difference is, you lived off of it, we rejoiced in it. The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it’s really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.
We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama & his administration are making Joe Mainstreet our food supply…will he? and will they?” >>
Excellent Letter
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>What's needed
And Happy Halloween
Ron Paul Current Conditions or Just a Bad Dream
Replaced the one with the music in the backround to just what's important to some of us. >>
This is something we can agree on.
<< <i>
<< <i>What's needed
And Happy Halloween
Ron Paul Current Conditions or Just a Bad Dream
Replaced the one with the music in the backround to just what's important to some of us. >>
Here's something we can agree on.
Where we diverge is I don't believe it is possible to fix this by voting for the right people. The same
people are running both parties. >>
I never said I believed that voting could do a dang thing. So we agree on that point. It's way far gone and it ain't coming back and my belief that Americans ( in general ) are clueless about liberty and would "vote" for MORE government not less and would protest in the streets if necessary to get it, I've been proved right and will be proved right again and again on that issue. Don't know if you go that far with it but I do. Both parties are both bankrupting the place.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I'd call that bluff in a heartbeat.
Funny how it's the same logic used to justify sanctuary for illegal aliens.
Belgium 10yr yield
Knowledge is the enemy of fear
Oh, and I agree with this,
“I never said I believed that voting could do a dang thing. So we agree on that point. It's way far gone and it ain't coming back and my belief that Americans ( in general ) are clueless about liberty and would "vote" for MORE government not less and would protest in the streets if necessary to get it, I've been proved right and will be proved right again and again on that issue. Don't know if you go that far with it but I do. Both parties are both bankrupting the place.”
I do believe it might take as long as ten more years for us to go completely down the tubes as the real printing of money has yet to begin.
Box of 20
<< <i>Belgiums problems seem to be flying under the radar. But perhaps no longer if their 10yr yield breaks 4.5%.
Belgium 10yr yield >>
Belgium yields have spiked to 4.95% this morn. Has anyone heard Belgium mentioned on the nightly news? You will if yields break 5%.
Knowledge is the enemy of fear
•The retiree health benefit pre-funding payment postponed by Congress and the President is now due by Nov. 18. Unless additional legislation is enacted, the Postal Service will be forced to default on this payment
Knowledge is the enemy of fear
<< <i>Interesting read on China as just another Greece. >>
Yep, this is going to have to unravel in China eventually. 5-10 yrs from now we'll be reading articles on how much of the econ statistics were hyped up by the Chicom govt. Of course our local media hasn't yet caught on, what's news. Gucci stores, empty shopping malls and $5700 per capita income don't add up. Massive overbuilding, just look at the skylines. Now dropping real estate prices. Sound familiar?
I do hope they keep buying PM's though
Overbuilding
Chinese Econ on Brink of Collapse