Global Economy Bursting?

[Randolph Kinney]

Moody's reviews 32 California cities' ratings

http://www.marketwatch.com/story/mo...cities-ratings-2012-10-09?link=MW_latest_news

Moody's Investors Service is reviewing its lease-backed obligation or general obligation ratings of 32 cities in California, mostly for potential downgrades, reflecting fundamental economic pressure in the state.

The firm also downgraded the pension obligation bonds of eight cities and one pooled financing. Moody's said it identified these securities as part of a review launched in mid-August on the credit standing of 95 rated cities in California.

Moody's has noted cities in California have been affected by recent economic and property market downturns, limitations on their ability to raise property taxes, rising fixed costs and precedents that make bankruptcy filings a potentially viable means to address economic pressures.

The cities on review for a downgrade include Berkeley, Fresno, Sacramento, Santa Barbara and Santa Monica.

 

[Big ole Boy]

Plain and simple - Gold and stocks will move together until global financial cabal is over-thrown which may be now or in 100 yrs

 

[Randolph Kinney]

The reality of helping the poor

http://www.nytimes.com/2012/10/11/o...?nl=todaysheadlines&emc=edit_th_20121011&_r=0

— the question is how to lift 46 million Americans out of poverty.

Each year, American taxpayers spend nearly $1 trillion trying to help the poor.

126 federal programs for low-income Americans, which together spend $668 billion of taxpayer money annually. State and local governments allocate an additional $284 billion.

Divide $1 trillion by 46 million and you get around $21,700 for each American in poverty, or nearly $87,000 for a family of four. That’s almost four times the $23,050 per year federal poverty line for that family.

 

[Randolph Kinney]

The Global Arbitrage of Online Work

http://bits.blogs.nytimes.com/2012/...work/?nl=todaysheadlines&emc=edit_th_20121011

Trends suggest that we’re heading for a global online arbitrage of opportunity, however, with good workers in bad places able to snatch business away from better-performing environments. If that happens in large numbers, the competition will get really fierce for everyone.

 

[Riick]

The reality of helping the poor
Divide $1 trillion by 46 million and you get around $21,700 for each
American in poverty, or nearly $87,000 for a family of four.
That’s almost four times the $23,050 per year federal poverty line for that family.

(1) Close all the programs,
(2) Add 1 million (?) the rolls for those newly unemployed clerks, social workers, janitors, accountants and administrators,
(3) Mail out $20,000 to each of the people living in poverty.

The federal poverty line:

• $11,130 per year for one person,
• $14,218 for couples,
• $17,374 for a family of three and
• $22,314 for a family of four.

(4) Poof.. no more poverty in the USA.

Ok Ok I'm being facetious.
I recognize that an awful lot of that $20k per person
would end up in the hands of
used car dealers, liquor stores and drug dealers,
instead of new car dealers, wine shops, and pharmacies.
......... ....did I say that?

 

[c w d]

I recognize that an awful lot of that $20k per person
would end up in the hands of
used car dealers, liquor stores and drug dealers,
instead of new car dealers, wine shops, and pharmacies.
......... ....did I say that?

Gee, do you think you have some kind of preconceived notion of the character of poor folks. And btw, how far are you away from that poverty line? The average family income isn't that far at all and is creeping towards the poverty line everyday I suppose because their too busy buying liquor and drugs, right Riick?

The fact is, the majority of this country are living in denial if they do not think themselves poor. With no real increase in income in +30 years yet ever increasing costs of living, the only thing keeping most people from being considered poor is the government's measure of poverty. Interesting to note is that most of these same people don't believe in the governments measure of inflation, unemployment figures or any other number of "official" numbers yet do not question their position.

Riick, for most people, poverty isn't a choice, its a side effect of living in a country where its leadership, right or left, has sold its citizenry down the river.

 

[Riick]

^^^
Guess someone did not notice the similarity between

used car dealers, .... liquor stores and .... drug dealers,
new car dealers, ..... wine shops, and ..... pharmacies.
/
shrug

 

[Terrel L. Shields]

you think you have some kind of preconceived notion of the character of poor folks

If you want to reinforce that preconceived notion then go to the Cherokee Casino on a friday night - Look particularly at the guys in rubber boots or tennies, Levi's and white T Shirts. They came directly from the local chicken plant. It's payday. By Midnight, they might have enough left to make rent.

Years ago, a lawyer I knew of in OKC had some rent houses, slumlord that he was, he gave tickets to each of his tenants to the OK State Fair. TO A MAN, he fumed later, none of them were able to make the next months rent on time because they spent their money at the Fair....

There is a reason for stereotypes... the same pattern keeps repeating itself.

 

[Randolph Kinney]

The Rich Get Richer Explained

http://www.youtube.com/watch?feature=player_embedded&v=xA_glFb0oWs

 

[Randolph Kinney]

Gas Prices Explained

Gas Prices Explained - YouTube