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GreenRiver

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  • It Can Happen Here: The Confiscation Scheme Planned For U.S. And U.K. Depositors [View article]
    It's all about the revenue model.

    The more page views, clicks, comments, etc. an article generates, the more those nice folks whose commercial content appears in the left and right columns pay.

    Editor's picks are the articles the editors think will generate the most traffic, regardless of quality of content.

    Surely you realize this?
    Mar 28, 2013. 04:11 PM | 6 Likes Like |Link to Comment
  • It Can Happen Here: The Confiscation Scheme Planned For U.S. And U.K. Depositors [View article]
    The FDIC didn't "take the deposits of uninsured depositors."

    Those funds were long since out the door, invested in MBS, CDO's, etc. that ended up being liquidated at far less than par.

    Once THE BANK lost the money, and was insolvent, the FDIC stepped in and disposed of the assets of the now failed institution and made whole the depositors WHO HAD INSURED LOSSES.

    If I have home-owners insurance, and a tornado blows my roof off, I have to pay the deductible ($500 on my policy) and the insurance pays the rest. Did the insurance company take my $500? No, the TORNADO did.

    Seriously, this is a whole lot of tripe. No insured depositor Cyprus lost funds, and no INSURED deposits in the US were lost in the financial crisis.

    And now I'm off to my control panel, to "STOP FOLLOWING" Ellen Brown. What a load of BS.
    Mar 28, 2013. 03:37 PM | 13 Likes Like |Link to Comment
  • Cyprus Commits Economic Suicide [View article]
    Or perhaps "do not let bankING get too big."
    Mar 28, 2013. 03:20 PM | Likes Like |Link to Comment
  • Krugman: Cyprus Should Leave The Euro [View article]
    North America had only been settled relatively recently (almost all within the previous 100 years) of the US Revolutionary War; these
    were all form British Colonies, most shared one language, almost all were protestant and had similar ancestry; all had fled oppresive regimes on the continent. In other words, these were people who had far, far more in common than not.

    There are still strong regional differences and animosities, even after the American Civil War and 200 years of political union.

    Compare that with Europe - a dozen languages, a dozen cultures, a dozen different work ethics. Most Europeans still remember the cold war, there are millions still alive today who remember WWII, the history books tell of WWII, the Franco-Prussian war, all the way back to the dark ages.

    Political unity in Europe is a fantasy. And always will be. Even when there was a common enemy, during the cold war, animosities were strong.
    Mar 27, 2013. 03:44 PM | 1 Like Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    OK, its not that hard. But why did you start following Phil in the first place?

    Go to your control panel, there are a couple buttons "following" and "followers". Click on "following".

    Find "Phillip Davis" in the list and click on the "stop following" button at the right hand edge of the entry.

    There. You're not following Phil anymore. But if you can't figure out how to "unfollow" Phil on your own, one wonders what else you can't figure out.
    Mar 27, 2013. 11:45 AM | 1 Like Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    http://bit.ly/XaeD5q

    Read it and weep. The top 10 they list:

    1: BMI (weight)
    2: Tobacco use
    3: Gender
    4: Age
    5: Pre-existing conditions
    6: Family history
    7: Profession
    8: Zip code
    9: Marital status
    10: Previously un-insured.
    Mar 26, 2013. 02:33 PM | Likes Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    SO, why don't you just sit on your @$$ and live off the government teat? Obviously, because it's WORTH IT to you to do otherwise.

    Just like its worth it for all of the rest of the strivers who are working they're @$$es off trying to get ahead. Even though the odds of reaching the top 1% are, well, 100:1. Actually the odds are a lot worse than 100:1 because so many were born on the 1" line and think they've returned the kickoff for a touchdown.

    So instead of whining, be thankful for what you have. There are millions who are working just as hard OR HARDER (Really, what's harder, your job or cleaning hotel rooms or shoving $#!t for $8/hr and trying to feed a family?) than you and getting a whole helluva lot less to show for it.

    People like me, for instance. When was the last time you worked 6 10+ hour days in a week? When was the last time you did that for 2 months straight? I own my own businesses, and I work damn hard. I'm not a 1%'er; we're probably at about the 75th percentile in household income.

    I don't begrudge the taxes I pay; for the most part I think government does a decent job and would do a whole lot better job except for all the anti-government conservative @$$e$ who's only goal seems to be to undermine any public initiative that has any chance of success.

    I'd rather work hard and have what I have, and the tax liability that goes with it, than to try to eke out an existence on the public dime. I know a few who have no other choice, and they aren't living well. Barely scraping by, not a nickel in the bank and not a pot to piss in, no future and no prospects. The saddest ones are the ones who are working full time at minimum wage jobs and that's the best they can do.

    //rant OFF.

    Sorry Phil, I had to do it.
    Mar 26, 2013. 02:21 PM | 3 Likes Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    Easy. A public education system that teaches that "intelligent design" has equal scientific merit to evolution and that global warming is a hoax has a hard time educating people in mathematics, especially statistics and probability.

    My experience with recent highschool graduates is that they often can't add two single digit numbers without a pocket calculator.

    To them, the statement "odds of winning 1 in 10,000" sounds pretty good when the prize is $5000 and a ticket costs $5.

    The don't have the ability to figure out that the appropriate calculation of fair value is $5000 / 10,000 = 50 cents, and that the right choice is not to buy something worth 50 cents for $5. They never even mastered simple arithmetic.

    But, all the better for those who went to private school and private universities and DO understand the math.

    A few years ago, in Virginia, I saw billboards along I-95 in Petersburg and Richmond with pictures of VA lotter tickets and the caption "Your ticket to riches." Which is false and misleading advertising, but they get away with it.
    Mar 26, 2013. 12:03 PM | Likes Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    Public sector union membership is 35.9%.

    Government doesn't have a profit motive, thus far less incentive to engage in the union busting tactics that private employers do. Not the least of which is the threat to move the jobs somewhere else, something a government pretty much can't do.

    And I was wrong on the private sector number, its at only about 6.6% of the work force.

    Overall, union membership is at 11.3% of the total workforce, public and private.
    Mar 26, 2013. 11:56 AM | Likes Like |Link to Comment
  • The Lessons Of The Cyprus Debacle [View article]
    Imagine if Charlotte, NC were solely responsible for bailing out Bank of America.

    Or if San Francisco were entirely responsible if Wells-Fargo went belly up.
    Mar 26, 2013. 11:36 AM | Likes Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    Even if he's not on the Coast, in the heartland, all your fuel and fertilizer are shipped UP the Mississippi, and all your finished goods DOWN to the Port of New Orleans. Using shipping channels built and maintained by the Army Corps.

    And likely you (or your employees) live and/or work behind flood protection systems built, variously, by municipalities, states, and/or the Army Corps.
    Mar 26, 2013. 11:06 AM | Likes Like |Link to Comment
  • Cyprus: It's Not Over Yet [View article]
    They'll still have 100,000 Euro, the insurance limit. All deposits beyond that figure will be lost.
    Mar 26, 2013. 08:30 AM | Likes Like |Link to Comment
  • Cyprus: It's Not Over Yet [View article]
    Define 'default'.

    How does your statement 'all debt is eventually paid by someone' square with that definition?
    Mar 26, 2013. 08:16 AM | Likes Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    Unions represent only about 8% of the private labor force - they don't have a whole lot of leverage anymore, they can't promise to deliver the #'s of members to vote for their candidates because they don't have them anymore.
    Mar 25, 2013. 03:37 PM | Likes Like |Link to Comment
  • Monday: Cyprus 'Fixed' By Confiscating 40% Of The Wealth - Markets Celebrate [View article]
    About 3x the OECD average.

    And you appear to be (if that's really your pic) fairly young, fairly healthy, well educated white male.

    ALL of which lower your insurance rate.

    Try buying private health insurance if your age 55, smoke, female, and maybe have had a couple of health issues such as a kidney stone or low back pain. You will almost certainly be priced right out of the market.

    We spend 2.5x the OECD average per capita to provide coverage to (a mostly healthy) 2/3 of our citizens.
    Mar 25, 2013. 02:44 PM | 1 Like Like |Link to Comment
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