Market crash: are we there yet ?

[PBzeer]

Well said cam.

[TrueBlue]

Really hate to dwell on anything Osama bin Laden has stated, but didn't he astutely announce several years ago, that "the US will destroy themselves by going bankrupt over the war against Jihad."?

[sailingdog]

Originally Posted by TrueBlue

Really hate to dwell on anything Osama bin Laden has stated, but didn't he astutely announce several years ago, that "the US will destroy themselves by going bankrupt over the war against Jihad."?

Well, he also predicted that the "Great Satan" would invade and occupy an oil rich Islamic country... hmm... and where is most of the money that is bankrupting the US going???

[wind_magic]

Originally Posted by sailaway21

... is apparently unaware that a strong or weak dollar, in and of itself, means nothing.

This is true, and a rare insight few have. BUT ... though a strong or weak dollar matters not at all, a dollar that is getting stronger or weaker makes all the difference. It's the direction and rate of change that are important, because that's what causes the money flows and changes in behavior.

[PBzeer]

You could end the war right now, and it wouln't change all the unfunded entitlements that are the choke hold on the economy ahead. Not to mention, the vast increases being proposed by the Prez canidates, of both parties.

Heading up the Bay, not bouncing for a change, to the Little Choptank River

[wind_magic]

Originally Posted by PBzeer

Most people, upon hearing that so many Americans lack health insurance, automatically assume it is because they can't afford it, but the Census study tells a different story. More than 17 million of those counted as uninsured earn more than $50,000 a year, including almost 9 million who make over $75,000 a year. Some of these people are, no doubt, self-employed, healthy and young, which is why they choose not to buy health insurance for themselves. Since there are few options out there for catastrophic coverage -- the kind that will take care of your bills if you're injured in a car crash or suddenly get cancer -- many of these Americans opt not to spend the money on expensive comprehensive health insurance, just as many people choose not to buy life insurance. Does it make sense to force them to do so?

This was exactly my situation until just recently. I was young and just didn't need insurance. Now that I have gotten a little older (late 30's) catastrophic insurance has become something I am interested in ... why ? Well because I know of people who have died of cancer and things in their 40's. And yes, occasionally somebody dies in their 30's of disease or something, but it is a rare thing and tends to cause the community to say things like "he was too young ...." and "had his whole life ahead of him ...", because it's relatively rare. When you are in your 20's and 30's your body has so much going for it that it's hard to justify spending a lot of money on insurance. Sure, you might draw the bad card and die uninsured, but pretty much everything that affects young people can be cured with penicillin. Or it's already covered by your motorcycle insurance.

The government certainly is NOT doing young people any favors by putting universal health care in place. Young people already pay too much for services they rarely ever use, and it's totally unfair to burden them with universal health care when such a huge number of people are getting older. It's just not right. They are the producers in this world, the ones out there actually doing the work and making the wealth, and they have dreams of becoming home owners, having and raising children, or whatever it is they want to do, it's just not right to throw health care on top of medicare, social security, government services, and all the rest of the stuff they are paying for. The country should be nurturing it's young people, investing in them by giving them freedoms [by not taking them away], opening opportunities for them, etc, not enslaving them.

AARP has become very dangerous.

[Rickm505]

Cam -- those CPI numbers are fiction as well. They perform some kind of majic for housing costs and eliminated food and energy from the index as well. Think about it.. oil has tripled in price and the CPI is still 2%? Ummm...no.

For a great explanation of how the CPI has been politically manipulated by this administration, go to this link. Here

Better yet, take a look at your grocery and gasoline bills over the last couple of years and then try and tell me that prices are stable.

Wages are not going up and the data is being fudged to keep us little people from bothering the real important people....

What really bothers me is that all of you guys are in the same boat with the rest of us.... all of this stuff affects each and every one of you as much as it does me. And here you all sit saying that none of it is even happening..

Unbelievable, maybe Sailaway isn't the only one who needs meds,

[PBzeer]

Disclaimer

John Williams' Behind the Government's Numbers The material appearing on this website is based on data and information from sources we believe to be accurate and reliable. However, the material is not guaranteed as to accuracy nor does it purport to be complete. Opinions and projections, both our own and those of others, reflect views as of dates indicated and are subject to change without notice. The contributions and opinions of others do not necessarily reflect the views of John Williams' Behind the Government's Numbers. Nothing appearing on this website should be considered a recommendation to buy or to sell any security or related financial instrument.

You certainly search far and wide for numbers

[Rickm505]

Heck, that one was one of the more conserative estimates. Most estimate that real inflation measured from WWII to now is in the 7% to 10% range.

And if you love unimpeccable sources, how about this one.

"Accounting and financial reporting standards have continued to evolve to provide greater transparency and accountability over the federal government’s operations and fiscal condition. Beginning in fiscal year 2006, the Statement of Social Insurance, which shows long-range actuarial projections of scheduled social insurance benefits in excess of earmarked revenues, became a principal financial statement.3 This new statement shows projected scheduled benefits exceeding earmarked revenues by approximately $394 trillion in present value terms for the next 75-year period.5 Considering this long-range projected funding gap in social insurance, in addition to reported liabilities (e.g., debt held by the public and federal employee and veterans benefits payable) and other implicit

commitments and contingencies that the federal government has pledged to support, the federal government’s fiscal exposures totaled approximately $50 trillion as of September 30, 2006, an increase of about $4 trillion over September 30, 2005, and up from about $20 trillion as of September 30, 2000.

6 This translates into a current burden of about $170,000 per American or approximately $440,000 per American household. Also,

beginning in fiscal year 2006, the consolidated financial statements reported earmarked funds activity separately from nonearmarked funds activity.7 For fiscal year 2006, earmarked funds revenue and nonearmarked funds revenue totaled about $1,094 billion and $1,532 billion respectively. In addition, for fiscal year 2006, earmarked funds had reported net operating revenue of approximately $172 billion and nonearmarked funds
reported net operating cost of approximately $622 billion.8"

That from the GAO report located here

The fiscally irresponsible republican administration has increased our national debt 2 1/2 times since taking office in 2001 with the aim of getting rid of Social Security, and you guys can't wait to defend them.

Go home, we can't afford you guys anymore.

Unbelievable

[PBzeer]

Getting rid of Social Security? That's the best one yet. Didn't you forget about feeding cat food to seniors and all the rest of the usual scare talk?

Oh for the days of the dot coms and REAL financial security. I have no sympathy for the GOP and their reckless spending habits, but, if you check your history, it's no different than when Dems are in power. They ALL spend as much as they can find, invent, or print, just to buy votes.