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03-17-2010
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Senior Member
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Quote:
Originally Posted by edguy3
Isn't that just a statistic for the Las Vegas area?
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No, Las Vegas is 21%
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Tropic Cat
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03-20-2010
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Junior Member
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Join Date: Mar 2010
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Quote:
Originally Posted by therapy23
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Being a bilingual Canadian, mistakenly thinking I had authored the concept of golden ballast, I feel compelled to respond: "Touche, eh!"
While there are lots and lots of lots for sale here in Abaco, it seems the prices have not (yet) started crashing.
Did anyone notice how *all* asset classes had a simultaneous rapid decline in Fall '08? Pursuant to my previous monetary message, my theory is that the value of the assets did not change, what changed was the length of the yardstick by which the assets were measured, ie money. The market figured out then, and suddenly, that a whole lot of debt (which is what money is) would not be repaid, thus decreasing the (fiat) money supply. When there are fewer dollar, each dollar buys more stuff.
What has happened since then as prices for many asset classes have recovered is that the rate of money production (through the assumption of huge amounts of government debt) has exceeded the rate at which it is destroyed through increasing lack of faith in the repayment of debt.
b2b
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03-24-2010
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Wandering Aimlessly
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Join Date: Nov 2002
Location: Cruising
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I had expected to see some mention of the AP story from last week about Social Security having to call in $29 billion of the Treasury's IOU's. In other words, they're taking in less than they're paying out.
RealClearPolitics - US News - Mar 14, 2010 - Social Security to start cashing Uncle Sam's IOUs
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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03-27-2010
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Old Gringo
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Join Date: Apr 2009
Location: SoCal
Posts: 86
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Everybody all in now?
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The future is here, it's just not evenly distributed. ~ William Gibson, "Pattern Recognition"
There is more to life than increasing its speed. ~ Mohandas K. Gandhi
It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so. ~ Samuel Clemmons
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03-27-2010
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Senior Member
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Quote:
Originally Posted by PBzeer
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Sadly, it's true. I've written quite a bit about GDP numbers in this thread and how they are meaningless. You can make the GDP number whatever you want it to be.
In our reality if incomes are high so are taxes and SS contributions, and if incomes are low, so are tax collections. The Federal government and most of the States all have a budget crisis today because of this Great recession. Here in Florida where 70% of the state's budget depends on our sales tax, collections are off 24.6% from their high in 2006 leaving a huge deficit. SS is no different.
Despite gleeful government releases of huge GDP gains, the reality is that the recession is in fact deepening and as a result, contributions to Social Security are dropping. Despite John's implication, it's beyond the control of bureaucrats. It should be addressed by Congress immediately. As in all situations of this nature, you have to cut benefits or raise taxes to compensate for the recession.
If republicans were adults, they would do the people's business. They won't and instead will blame Obama. Of course that's laughable as he arrived in office with our economy crashing around his ears.
Republicans are fiddling while our country 'burns'. But hey, Fox ratings are up and Rush made another few million.
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Tropic Cat
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03-28-2010
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Today's news
Experts at loss as to why recovering economy can’t put more back to work
"....It's a mystery that has puzzled even Federal Reserve Chairman Ben Bernanke: if the U.S.
economy is growing rapidly, why isn't it creating jobs?...."
LOL..it is creating jobs... lots of them.... just not in America. But the Chinese and Japanese
both thank us for our stimulus packages... very considerate of us .... can they have more please??
The article goes on to say:
"The Fed and private economists are trying to answer the bigger question of why the labor market shed 8.4
million jobs during this recession. Although the downturn was the deepest since the Great Depression, the
job losses were even more severe than most forecasters had predicted based on models that compare
economic growth and employment.
Bernanke offered two possible explanations.
"One is that maybe the recession was deeper than we thought," he said in response to a question from a member
of Congress last week. "The other is that the productivity gains were greater than we thought they would be
when firms were able to cut their work forces and still maintain output."
The first theory gained support when one of Bernanke's staff economists wrote a research paper
suggesting that the most commonly used measure of U.S. economic growth, gross domestic product,
had understated the depth of the recession and overstated the recent recovery."
I'm vindicated at last!!!! The light bulb finally went on at the FED!! Hell, they probably read it here. It wouldn't
be the first time.
The March employment report is due out on Friday. The consensus of experts expects a gain of 190,000 jobs, which
would mark only the second month of job growth since the recession started in December 2007, and the
largest increase since March of that year. All in all a gain is a gain, right? Not so fast.
Government jobs are expected to account for the bulk of the growth, thanks to the once-a-decade Census.
They have hired hundreds of thousands of temporary workers, but the jobs only last a few months.
Oh yeah... count this one as a big WIN. The DOW will probably go up a hundred points before some dummy figures out
that companies still are not hiring at all.
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Tropic Cat
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Last edited by TropicCat; 03-28-2010 at 08:06 PM.
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03-29-2010
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Winning
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Join Date: Aug 2008
Posts: 9,303
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So, Portugal and Spain are about to follow in Greece's footsteps? I thought all that health care and pension stuff was free. WTH?
Greece, Spain, Portugal Default Swaps at Record High, CMA Says - Bloomberg.com
What will this mean for US markets?
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BFS Gear: SNers started it....
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03-29-2010
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Banned
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Quote:
Originally Posted by smackdaddy
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The cost of health care to their economies is less than ours. If they had our health care system they would be in far worse financial shape. Everybody else has universal health care, that does not mean that anything bad that happens to them is a result of them having universal health care.
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03-29-2010
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Winning
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Fair enough. Where did the debt come from?
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BFS Gear: SNers started it....
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