More Good News: Record High Credit Card Defaults [View article]
Well written article. As for the above comment, it has also been my belief that integrity is paramount to personal success, however, the loss of integrity at nearly every level of financial management in most countries is inexcusable. Losing most of our savings to corrupt bankers, having our childrens' future sitting in uncertainty and millions of honest folks waiting for foreclosures in this environment of fear is a national loss of integrity. It's true that bankruptcy is never good, but it also may not be bad to deleverage, as our government is assisting the banks to do. The people should have been given the money in income tax returns, to pay off their credit card bills, the banks would be financed and the people would be in a position to buy again.
What's astonishing is that after a fairly well written article, there are two jack ass responses although I suppose the initial sentence is suspiciously suspect of bias and leads one to stray in interpretation. No, forget that, this article is biased from start to end -- no food for thought --- just manure.
Climate Change: How to Invest for the Possibility [View article]
It seems to me that reducing global CO2 emissions would be a prudent course of action, for more than a few reasons, none of which are mentioned here. However, to overlook the possible outcomes of excess emissions in favor of the more immediate profit venue is exactly the route many idiots have taken in our economic venue over the last 40 years. As this writer has stated, he is not interested in possibilities of 'what if' as much as he is in what have I got in my pocket. This is the problem we, the caretakers of the earth our children will inherit, must work with and change the attitude -- that things will get better on their own, regardless of how poorly we treat our environment. Sure, invest to make a profit but do so with an understanding and knowledge of what those companies do and how they do it.
TARP Mission Creep Watch, SBA Edition [View article]
Road building program ???? What we need are repairs on bridges, dams, water pipes, and critical infrastructure collapsing all around us. Screw the banks and SBA, they will find a way to survive or someone will find a way to replace them. We may as well get a decent bang for the stimulus bucks being thrown around as the country descends into chaos.
Employment: Minimum Wage, Maximum Stupidity [View article]
Great article, I grew up with exactly the story told. I worked odd an end jobs for years --- building up experience and then used those images of low paid toiling to convince myself to return and earn a degree while getting minimum wage. I'm sure millions of Americans did the same, but today my kids have found fewer and fewer jobs to tweek their skills and this hike in min. wage will only put a greater damper on their efforts.
GM May Be Considering Bankruptcy (at Last) [View article]
GM should go under, as a group they have been as uncompromising a group as any in this crisis. GM has and continues to bring its weight against efficient electric modeled cars for the last 20 years, and continue to have pending lawsuits to alter laws requiring them to do so. LET GM BURN !!! and good riddance !!
"The FED ultimately can only do the bidding of the elected government." Wrong, as a private entity, the fed is doing anything it wants and none of it at this moment is doing any good -- they are lining the pockets of the bankers.
'The government can only do the bidding of the electorate.'
Wrong, But how I wish it were true! The govt is doing just what they want, ex: Tarp --- the American people voiced their opposition to that in unison and were vetoed.
Unfortunately, what the electorate want is cream today.
Wrong again, what the electorate want today is honest and able leaders and bankers they can trust. Sure, if you place cake on the table ( low interest, high equity loans) the people will indulge, the bankers should have been mindful of the trust the people placed in them and maintained internal regulation.
'The US electorate is totally incapable of understanding economic reality. They have no experience of economic reality and nobody has ever taught them the basics. In order, to get this, they need a really sturn lesson. And Boy and are they going to get one!'
Yes, economic studies today do stink --- just look at our econ phd's today -- they are stupid. Yes, we are for the same reason going to get one helluva lesson, not that we need one, but one just the same. In fact so bad that many will lose their family, home, savings and possibly life.
So, thank-you Alan, Ben, George W, Henry and Tim, we will miss you.
Personally I do not like Cramer or his methods of selling -- however, Cramer did not have anything to do with this Wall Street originated mess. He calls it as he said from info handed down to him from people like Fuld etc. who he said lied to him. I believe this --- most of those CEO's lied constantly to their employees and the America people. We need to indict them and those who profited from this CDS insurance scam. Selling mortgages to the poor to move them off the govt housing rolls was the work of Barney F. and Chris D. with the revoking of the Community Act and uptick rules --- both from Franks and Dodd. Put the blame where it rightly belongs --- Wall Street, SEC and Congress.
Don't Be Fooled by Fewer Foreclosures: Outlook Worsens [View article]
Not related specifically to the topic but something to keep in mind is that not all states are affected by the foreclosuregate problem. As an example, Georgia does not require the mortgage note in foreclosing -- only a copy of the security deed is used. Therefore you see the stats of Johns' chart become more understood in those top ten. Half our states may have the same loose legal laws. The result --- no hold up in losing your home in 6 months -- in fact the Georgia legal system may take pride in emptying out these homes so quickly. However, there are still no buyers so the homes are vacant and the job market is no better here than any place else.
Is Contracting Consumer Credit a Good or Bad Thing? [View article]
"How is de-leveraging caused by default different from de-leveraging caused by paying off debt?"
Overall, this article and comments are very interesting. There is one point not covered here that could be related to the principle idea of the article. This has to do with not just the effect on financial institutions but more importantly the behavior and attitudes of the American public. Again and again I hear how the "foolish" people are using their default funds for manicures and vacations, how foolish is that belief! People are using those funds to invest in contrarian type investments --- PM, art, rare coins, handy man equip and items that can be kept out of the govt eye. The banks have fooled us more than once --- so shame on us --- but this time is different, not for the majority ---- some people are just stupid, but for a good % we have learned our lesson.
One more thing, the CC co's are keeping the defaulted loss as write off's to negate any chance people get herd mentality. This IS the best time to get rid of debt -- all of it --- CC's, real estate --- screw property taxes and insurance --- get back to the basics and start enjoying life with less.
"In terms of ideas or ideology, the Chinese are probably more confused than anyone else in the world. During the Cultural Revolution, many Chinese traditions, including Confucianism, were destroyed. Communism has proved to be disastrous, and no one believes in it anymore. In today’s China where money is king, people have become disillusioned with any notion of ideals. There has been serious moral decay in society."
This is an essential concept of why the Chinese constitution, specifically articles 33-50, are not about to mold the ideals of Chinese citizens. There has been little or no liberty over the past 100 years for the people to decide their path in life, no opportunity to experience personal decisions in every aspect of life and there remains today little belief that one has any control over their destiny. The recent Google vs China fiasco, demonstrates the reluctance the leadership has in relinquishing control and allowing the people to have the personal liberties that are written in the constitution. Until the people believe and ferment trust in the government, and the government in them, there will be no harmony-- personal or social. The United States people had this liberty, but now with a corrupt Congress and Wallstreet greed, we have lost the potential that we would continue on the journey, and only with a quiet revolution will we regain the true path. Fortunately, we have experienced harmony and it remains a key ingredient to the successful outcome provided the government returns to the guidelines rooted in our constitution. However, with the illegal wiretaps, search and seizures and eventual over taxation, Americans are looking at many difficulties to regain liberty. China could become an economic power, however, it remains to be seen just how well it may develop a philosophical identity that commands respect and leadership.
This article is very insightful, it strengthens my own perception of the development and the migration of the masses from rural to urban living. However, I take exception to the perceived benefit this has to the 'power' of Chinese society. China should reevaluate it focus on transforming itself from an agrarian society to one that bases its 'success' on the model of middle class America. As was stated in her article Ms. Wang shows China has a very different roadmap to its sudden 'power' status. Therefore China needs to move forward to domestic tranquility by incorporating the values the Chinese leadership held dear 40- 50 years ago. Promote the agrarian aspects of close knit community villages that enhance family development -- that keep people on 'the farm'. The government may assist best by using its vast wealth in building regional power plants, water sewage treatment plants, local manufacturing businesses that design products for regional use and then progress to the development of advance degree schools among those villages. This will incorporate the philosophical intent and understanding China had endorsed for centuries. As someone who has lived in third world countries for 12 years, I see this as an opportunity for not the expressed focus to build a middle class but as a time to strengthen the foundation already in place. The mass exodus of peasants from the rural to urban setting is a scenario for disaster. The sooner the Chinese leadership believes this the sooner they will truly be on the road to world power status.
The Gold Standard: As Relevant as Ever [View article]
nuclear1929 Central bank buying supports the price, but it's not a guarantee of future performance, because already supply is higher than demand.
You obviously have not tried to purchase any gold, silver or platinum from the US mint this year. For the first time since 1986 the US mint does not have any PM's available for direct sell to collectors and the public. All their supplies are tied up with bullion sales to dealers of PM's. That means no proof gold eagles or buffaloes nor any proof silver eagles. So to say that supply is higher than demand is foolish. The mint will not release any proofs until it satisfies the bullion demand and presently there is no end in sight for that to happen this year.
California's Pension, Education Costs: Out of Control [View article]
Teachers are already some of the lowest paid workers in govt service, now you want to wipe out their pensions, yea GREAT!!! now we'll have to outsource for teachers too. God help the kids, this article was written by an idiot.
More Good News: Record High Credit Card Defaults [View article]
Losing most of our savings to corrupt bankers, having our childrens' future sitting in uncertainty and millions of honest folks waiting for foreclosures in this environment of fear is a national loss of integrity. It's true that bankruptcy is never good, but it also may not be bad to deleverage, as our government is assisting the banks to do. The people should have been given the money in income tax returns, to pay off their credit card bills, the banks would be financed and the people would be in a position to buy again.
California's Economy: Disaster Developing [View article]
Climate Change: How to Invest for the Possibility [View article]
Sure, invest to make a profit but do so with an understanding and knowledge of what those companies do and how they do it.
TARP Mission Creep Watch, SBA Edition [View article]
Employment: Minimum Wage, Maximum Stupidity [View article]
GM May Be Considering Bankruptcy (at Last) [View article]
GM has and continues to bring its weight against efficient electric modeled cars for the last 20 years, and continue to have pending lawsuits to alter laws requiring them to do so. LET GM BURN !!! and good riddance !!
Keep Your Head Above the Dollar [View article]
"The FED ultimately can only do the bidding of the elected government."
Wrong, as a private entity, the fed is doing anything it wants and none of it at this moment is doing any good -- they are lining the pockets of the bankers.
'The government can only do the bidding of the electorate.'
Wrong, But how I wish it were true! The govt is doing just what they want, ex: Tarp --- the American people voiced their opposition to that in unison and were vetoed.
Unfortunately, what the electorate want is cream today.
Wrong again, what the electorate want today is honest and able leaders and bankers they can trust. Sure, if you place cake on the table ( low interest, high equity loans) the people will indulge, the bankers should have been mindful of the trust the people placed in them and maintained internal regulation.
'The US electorate is totally incapable of understanding economic reality. They have no experience of economic reality and nobody has ever taught them the basics. In order, to get this, they need a really sturn lesson. And Boy and are they going to get one!'
Yes, economic studies today do stink --- just look at our econ phd's today -- they are stupid.
Yes, we are for the same reason going to get one helluva lesson, not that we need one, but one just the same. In fact so bad that many will lose their family, home, savings and possibly life.
So, thank-you Alan, Ben, George W, Henry and Tim, we will miss you.
Credit Defaults - Read Beyond the Headlines [View article]
Stewart vs. Cramer: A Cheap Shot [View article]
Don't Be Fooled by Fewer Foreclosures: Outlook Worsens [View article]
Is Contracting Consumer Credit a Good or Bad Thing? [View article]
Overall, this article and comments are very interesting.
There is one point not covered here that could be related to the principle idea of the article. This has to do with not just the effect on financial institutions but more importantly the behavior and attitudes of the American public. Again and again I hear how the "foolish" people are using their default funds for manicures and vacations, how foolish is that belief!
People are using those funds to invest in contrarian type investments --- PM, art, rare coins, handy man equip and items that can be kept out of the govt eye.
The banks have fooled us more than once --- so shame on us --- but this time is different, not for the majority ---- some people are just stupid, but for a good % we have learned our lesson.
One more thing, the CC co's are keeping the defaulted loss as write off's to negate any chance people get herd mentality.
This IS the best time to get rid of debt -- all of it --- CC's, real estate --- screw property taxes and insurance --- get back to the basics and start enjoying life with less.
Myth of China as a Superpower [View article]
This is an essential concept of why the Chinese constitution, specifically articles 33-50, are not about to mold the ideals of Chinese citizens. There has been little or no liberty over the past 100 years for the people to decide their path in life, no opportunity to experience personal decisions in every aspect of life and there remains today little belief that one has any control over their destiny.
The recent Google vs China fiasco, demonstrates the reluctance the leadership has in relinquishing control and allowing the people to have the personal liberties that are written in the constitution. Until the people believe and ferment trust in the government, and the government in them, there will be no harmony-- personal or social.
The United States people had this liberty, but now with a corrupt Congress and Wallstreet greed, we have lost the potential that we would continue on the journey, and only with a quiet revolution will we regain the true path. Fortunately, we have experienced harmony and it remains a key ingredient to the successful outcome provided the government returns to the guidelines rooted in our constitution. However, with the illegal wiretaps, search and seizures and eventual over taxation, Americans are looking at many difficulties to regain liberty.
China could become an economic power, however, it remains to be seen just how well it may develop a philosophical identity that commands respect and leadership.
The Chinese Manufacturing Myth [View article]
Promote the agrarian aspects of close knit community villages that enhance family development -- that keep people on 'the farm'. The government may assist best by using its vast wealth in building regional power plants, water sewage treatment plants, local manufacturing businesses that design products for regional use and then progress to the development of advance degree schools among those villages. This will incorporate the philosophical intent and understanding China had endorsed for centuries.
As someone who has lived in third world countries for 12 years, I see this as an opportunity for not the expressed focus to build a middle class but as a time to strengthen the foundation already in place.
The mass exodus of peasants from the rural to urban setting is a scenario for disaster. The sooner the Chinese leadership believes this the sooner they will truly be on the road to world power status.
The Gold Standard: As Relevant as Ever [View article]
Central bank buying supports the price, but it's not a guarantee of future performance, because already supply is higher than demand.
You obviously have not tried to purchase any gold, silver or platinum from the US mint this year. For the first time since 1986 the US mint does not have any PM's available for direct sell to collectors and the public. All their supplies are tied up with bullion sales to dealers of PM's. That means no proof gold eagles or buffaloes nor any proof silver eagles. So to say that supply is higher than demand is foolish. The mint will not release any proofs until it satisfies the bullion demand and presently there is no end in sight for that to happen this year.
California's Pension, Education Costs: Out of Control [View article]