Global Economy Bursting?

[Delta85]

Why is it that 47% of the population pays no federal income tax?

You won't hear that question being discussed on MSNBC or at an Occupy rally.

 

[Randolph Kinney]

Call for EU to control Greek budget

http://www.ft.com/intl/cms/s/0/33ab91f0-4913-11e1-88f0-00144feabdc0.html#axzz1jm6rGpib


The German government wants Greece to cede sovereignty over tax and spending decisions to a eurozone “budget commissioner” to secure a second €130bn bail-out, according to a copy of the proposal obtained by the Financial Times.

In what would amount to an extraordinary extension of European Union control over a member state, the new commissioner would have the power to veto budget decisions taken by the Greek government if they were not in line with targets set by international lenders. The new administrator, appointed by other eurozone finance ministers, would take responsibility for overseeing “all major blocks of expenditure” by the Greek government.

 

[Austin]

Maybe the “budget commissioner” can force the Greek people to take group therapy. They can form a new group for nations addicted to debt called DDD Anonymous. At the meetings everyone has to stand up and say: “My name is Nick Debtopolous and I am a debtoholic. The others answer in unison – Hey Nick. Everyone gets a turn to spill their guts.
This is really getting silly. Hey, if it works in Greece we can use the same method on California.

 

[Workbox]

Call for EU to control Greek budget

http://www.ft.com/intl/cms/s/0/33ab91f0-4913-11e1-88f0-00144feabdc0.html#axzz1jm6rGpib


The German government wants Greece to cede sovereignty over tax and spending decisions to a eurozone “budget commissioner” to secure a second €130bn bail-out, according to a copy of the proposal obtained by the Financial Times.

In what would amount to an extraordinary extension of European Union control over a member state, the new commissioner would have the power to veto budget decisions taken by the Greek government if they were not in line with targets set by international lenders. The new administrator, appointed by other eurozone finance ministers, would take responsibility for overseeing “all major blocks of expenditure” by the Greek government.

Isn't this another way of saying "Default"?

Endgame Begins – UK “Foreign Office Sources Say Merkel Now Thinks Greece Will Default”

But or course they will try to spin it as a good thing. I wish our corporate/government run media would show how Europe is really handling these meetings and it is not good. Of course they do not want anymore ideas for the public to get off the couch and begin to demonstrate and ruin pubic grass. I am sure Jefferson is spinning in his coffin.

 

[Big ole Boy]

a faux world with full fiat bellies

faux language, faux definitions, faux speeches, faux economies and full fiat bellies ...

.... all linkages gone ..... to everything

..... Keep our bellies full and we will bow down and worship the clown

 

[Randolph Kinney]

Picture is worth a thousand words.

 

[Randolph Kinney]

California is running out of cash

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/31/BAHF1N0VMH.DTL

California will run out of cash by early March if the Legislature does not take immediate action, Controller John Chiang told budget leaders at the Capitol in a letter Tuesday.

The controller recommends borrowing and delaying some payments in order to deal with the shortfall, which he projects will last seven weeks. Absent that kind of action, the state could face sending IOUs and delaying tax returns.

"Although this cash management plan relies on still more borrowing, payment delays and deferrals, we believe this is the most prudent and responsible course of action considering we have about four weeks before the advent of a cash shortfall," Chiang wrote in a letter to the chairman of the Assembly and Senate budget committees.

The controller said the overarching problem is that, as of the end of the year, the state was spending $2.6 billion more than was included in the budget while tax revenues coming into state coffers were $2.6 billion below projections. He said that leaders need to find $3.3 billion to bridge the seven-week period.

However, further overspending and reduced tax income would make the problem worse.

 

[Big ole Boy]

High Speed trains and agile dominion of rulers

... I recon they can get the Feds to bail them out with High Speed trains .....

.... Free Money at the Top minus no money at the Bottom = Agile Dominion by our rulers

 

[Restrain]

Unemployment falls per BLS. However, the number of people actually in the workforce declined by over 1M.

http://confoundedinterest.wordpress.com/

 

[Randolph Kinney]

More US wealthy opt to surrender their citizenship

Tax the rich assumes they will cooperate

http://www.freerepublic.com/focus/f-news/2333259/posts

The top-earning 1% of US taxpayers are Leaving the USA at the highest rate in history. (Source: INS/Census Bureau & Zogby International estimates)

In addition, a Zogby International poll found that more than 3 million US citizens relocate abroad every year, as record numbers of rich US citizens renounce their citizenship to escape punishing levels of taxation.