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Global Economy Bursting?

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What is riots and violence going to accompolish? What is it about "we ain't got the damn money to pay you people" that these people can't understand?
I received en E-Mail from Dick Morris today outlining plans for the new congress. First on his list is legislation to allow states to go bankrupt and cancel those pension to the unions the tax payers are hostages to. We are broke folks and the only way out is "cancel the debt". Throwing a fit changes nothing. Just ask the French, Greeks, Irish, Spanish, etc.
 
Let me tell you guys a local saga on TART money that surfaced in the local paper. We have a minority owned bank in town. They are insolvent and have been under a FED cease and desists order for over 5 years. The only reason the FDIC has not shut them down is that there is a written policy that prohibits closing minority owned banks.
In 2008, our long term conservative congressman was defeated by 700 votes in the Obama tidal wave. A local commercial hot shot got himself into a pickle over a law suit on a 5 million dollar commercial land deal and had to refinance to pay off his impending loses. This bank cannot lend $5,000 much less $5 million. In a payoff to the black vote the just defeated Democratic congressman arranged a $5 million dollar loan with TART funds channeled through this minority bank to this commercial jockey. When his law suit hit the paper he was asked how he felt about getting TART funds to refinance and pay off legal bills. He replied that he never heard of TART funds. The African American woman at the bank that arranged the deal was promoted to senior VP for her good work in getting funds to stimulate the economy. The paper gave her a big write up about it. The commercial jockey lost the law suit but has all his property in his wife’s name. He only signed the note as guarantor and therefore has no liquid assets of his own with which to pay off the suit. End result-jockey got a low interest loan to build a new super motel in a town grossly overly supplied with vacant motel space.
 
Treasury yields dip as Fed announces plan to buy $105 bln in bonds over coming month
 
Austin said:
The pace quickens!!!! You connect the dots. Hope the NAR enjoys that tax deduction suggestion. See where those big campaign contributions get you?
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I'm not sure the mortgage deduction will be touched. The government has made it a point of trying to prop up the RE market, plus (historically) increasing homeownership, and tampering with this particular deduction will do the opposite. Eliminating it altogether would have a unbelievably devastating impact.
 
Americans live longer but do so sicker than most other developed countries. Without drugs and doctors, we'd all be dead by 65 in my family. So there won't be a lot of people who can work past 65. And the longer we work, the harder it will be for the youth of the nation to be gainfully employed. 30 year olds with degrees and no jobs are a worse problem that grandpa working a couple extra years as a greeter in Wal-Mart. Face it. Few of us oldies are very attractive to employers at what we are "really worth". We got stupid (and expensive) as employees. They want young (cheap) employees.
And the Europeans are complaining over raising the age to 62. The Brits are raising tuition to $9000 a year from $3000 for college students. Riots are pretty violent. The party in power had promised NO raise...reneged already.

This reflects poor leadership in the ruling class. And the insanity remains that we are trying to police the world. Let the Iranians police Afghanistan for a while. Let the Chinese police Iraq. They are smart enough to let us do that.

We could slash our spending by letting someone else finance this world policeman job and make the rest of the world pay for the United Nations. We carry most of the cost despite having to endure withering criticism from third rate countries who pay nothing towards the UN cost.
 
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Canada pulled itself together from what may have been an even worse mess.
In mid-1990's 1/3 of government revenues went to pay interest on debt,
and 53% of GDP went to support the government,
Link will take you to an outline of what they did, accomplishing a LOT in only 3 years.

LINK

.
 
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Terrel L. Shields said:
And the insanity remains that we are trying to police the world. Let the Iranians police Afghanistan for a while. Let the Chinese police Iraq. They are smart enough to let us do that.

We could slash our spending by letting someone else finance this world policeman job and make the rest of the world pay for the United Nations.
Click to expand...

We could bring most of the military home from Europe, Asia, and the Middle East ASAP, and station tens of thousands of them along the border. It would be a lot cheaper and safer to keep them here in this country than to haul military equipment halfway around the Earth, plus we could actually make an attempt at enforcing our southern border.
 
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