Lawlessness is Out of Control – Guest Post
June 8, 2009 by admncc
Here at The Constant Complainer, in addition to my own posts, readers can submit Guest Posts on topics they would like to complain about. Tristan submitted the below-Guest Post. His complaint is the economy’s disorder. This is certainly a topic everyone has an opinion on. So enjoy and without further adieu, here’s Tristan…
You should be shaking in your 401(k). Click here for the story.
Note that this idea of “shared sacrifice” serves only to punish responsibility, offloading pain from the fools and crooks and giving it to the rest of us. What is frightening is that this mentality is combined with an utter disregard for federal law, so bonds, pensions, mutual funds…nothing is safe.
GM bondholders should have been first in line to collect on that debt in bankruptcy. Since that law was ignored, absolutely any bond can be stolen in a similar manner.
Add to that this sort of propaganda nonsense. Click here for the video.
Worth noting is that the FDIC currently has something like $13 billion in reserves remaining to insure $4.8 trillion in deposits. That’s 0.27%, or almost 4000:1 leverage. Historically, sound banking is usually closer to 10:1. That $250,000 limit that they have, if called, is only $675 per account. I think most banks in reality are insolvent (assets fall short of debt obligations), more so with every bursting bubble. It won’t be long until the FDIC comes crawling back for more money, courtesy of the once, now, and future taxpayers.
Obviously current tax receipts won’t be enough, given the $2 trillion budget deficit (not to mention climbing unemployment, which decreases receipts and increases liabilities, or retiring baby boomers for that matter), so we have to count on future taxpayers by issuing debt. Unfortunately, as debt grows, so does perceived risk, and the old faithful such as the Chinese are not so willing to contribute. So without current and future tax income, we’re left with former tax income or tax deferred accounts. Theft could easily find its way into government bonds and treasuries as it has already been shown that the law is not an issue.
This means your retirement savings, bank accounts, pension, benefits–none of it is safe. The only good news, assuming you do have cash in a shoe box, is that you may be able to buy real estate and other possible stores of wealth in the future for 10 cents on the dollar when it all unwinds.
I know, no one liked math or history in school. Just know this: Accounting games by bureaucrats are not going to make our problems go away any longer. It’s time to snap out of it and realize that there are more important things than who wins American Idol. The world as we’ve known it for all or most of our lives is on the edge of a cliff. At this point it cannot be stopped. Change you can believe in will be replaced by change you didn’t believe could happen.
I understand all too well that I sound like a lunatic making such claims. So, please, ask for any clarity and I will provide it to the best of my ability. I’m wondering, is there any point at which people will help themselves? What proof is required that things really can be as bad as they seem?
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The title of this column is extremely appropriate. It could also be called “Cruelty and Lawlessness is out of control”…
The economic collapse that we are getting ready to experience is a product of the cruelties of liberalism. They began with the progressive movement of Wilson. They caused Hoover’s recession, FDR’s depression, the Bush 41 recession, the Clinton recession, the Bush 43 recession, and now the future depression caused by Obama. Every single time relief came, it was becuase of conservative principles, but eventually those conservatives find they need to get votes, so out comes the cruelties of liberalism once again. This time, the failure will be far worse than FDR or LBJ. BHO seems to hate American values. He needs to stop apologizing for American Exceptionalism, and start thanking God for it. It’s a sad day when the French President has more respect for the good America does for the world than our own president.
But you’re right, Tristan. Things are very bad, and will get much much worse. Unfortunately, people have not learned their lesson yet.
Was that “shoebox” commercial really on TV?
I agree with you. Good post.
You’re absolutely right Tristan. Unfortunately GWB and his conservative buddies really screwed this country.
We’ll certainly need some leaders like Clinton, FDR, and Kennedy to set everything right. Thankfully we have such a leader in Obama and we can begin to see the light at the end of the tunnel.
Did Lyin’ Linear Libby just call Bush a conservative? Are you kidding me…??? His second term championed liberal economic cruelty…
you know. when i worked at the bank we were always encouraged to tell people that their money is FDIC insured up to 250k… however, no one really realizes that the government can take up to 99 years to pay you back if your bank fails! haha.
Jane, I didn’t see it on TV, though it is a so-called “public service announcement” so I would say it was on TV sometime. There has been a lot of propaganda on TV recently, actually. A week or so ago I saw an ad with Obama saying what a great choice Sonia Sotomayor is for the Supreme Court. Never mind that she openly pigeon holed a large swathe of people into a narrow group (“white people”) and then proceeded to explain how she is inherently better than them due to “her heritage”… Then the media calls it “reverse racism” as if such a concept even exists.
Interesting point, blunt. I didn’t know that and it doesn’t surprise me one bit… .gov has routinely piled debt onto the backs of our children and their children, and we let it happen without a thought as to where that money is going to come from. Look at the commercials on TV for motorized wheelchairs–“I got mine at no cost to me! Get out there and enjoy life!” Gotta love entitlement.
And Mike… if you’d put your ear to the tracks, you’d realize the light you’re seeing is a train. Take a look at what Obama has done for you. The blue lines are what you were sold, the red dots are the truth:
http://michaelscomments.files.wordpress.com/2009/06/stimulus-vs-unemployment-may-corrected.gif
Keep in mind this is before GM and Chrysler bankruptcies show up with massive layoffs, not to mention the subsequent destruction of suppliers and dealers. If you heard about the “stress tests” from your leader, the “worst case scenario” had unemployment peaking at 10% at the end of 2010. How do you feel about that prediction now?
I have my own prediction for you: “The Fall” is going to be more than just another name for Autumn this year.
Tristan,
Obama has been in office for how long now? 6 months? Yeah it’s all his fault. (ROLLING EYES LIKE ALWAYS)
You guys are all a bunch of Chicken little MORONS! Whomever wrote this is an idiot! A 401k is just a savings vehicle. A 401k is not suppose to “provide a secure retirement.” It is only a stradegy to provide for one element in a well diversified retirement plan. Oh, thats right…you guys don’t have taxpayer financed pensions! Too bad! So sad!
NCD, stop cryin… You don’t even have a JOB. Your retirement plans are pretty simple…soup kitchen!
Tristan, why are you a Repunklican apologist? From what I can tell, you barely have a pot to piss in…and it’s a ratty one at that! What have the Repunklicans done to make you such a believer? Have they promised you tax breaks, which you don’t even qualify for? Have they promised to save your unborn child? Do they make you believe that you MAY one day live the “good” life, so you better support their freemarket (richman’s) principles?
Tritan, are you for real? Where do you get this shit? You said, “A week or so ago I saw an ad with Obama saying what a great choice Sonia Sotomayor is for the Supreme Court. Never mind that she openly pigeon holed a large swathe of people into a narrow group (”white people”) and then proceeded to explain how she is inherently better than them due to “her heritage”… Then the media calls it “reverse racism” as if such a concept even exists.” Are you in the KKK? Sonia Sotomayer said she had “different” experiences from a large swathe of a group..white people! How many “White People” do you know who grew up poor in Housing project in the Bronx? From your biggoted opinions, I assume you are white, right? What’s it like being told you can’t go somewhere or do something because of the color of your skin or because your parents weren’t born in the USA? You don’t know, do you? This lady took all those opinions and turned them on their head. She has diferent opinions and experiences from everyone one on that court bench and most every court bench. President OBAMA’s intention, by nominating her, was to provide a different point of view on the court. How many (previously disadvantaged) Mexicans are currently sitting on the court? I’d say he made the right choice, a smart choice, and will continue to make correct choices, idiot!
Wow, Zig…were you born a fascist, or did His Royal Highness, King Barry the Great encourage you to become one?
Mike, I never said it was all Obama’s fault. No need to avoid the debate and the facts I laid before you. He is responsible for the decisions he has made in the last six months (though I’d say longer, given all the lies he told to get elected). However, these problems have been forming for the better part of 30 years. The point is he would rather blame W. than take responsibility for his own failures in his short time in office. It isn’t that hard to see this stuff if you take off the blue goggles.
Zig, you clearly have no interest in an intelligent debate. You also made it clear last time that you know next to nothing about macroeconomics or its relevant history. You have blind faith in people and things that you do not understand. I do not intend to change your mind.
As for Sotomayor, here is the statement in question: “I would hope that a wise Latina woman, with the richness of her experiences, would more often than not reach a better conclusion than a white male who hasn’t lived that life.”
racism: The belief that race accounts for differences in human character or ability and that a particular race is superior to others.
Let me rearrange some words to see if this helps you to understand: “I would hope that a wise white man, with the richness of his experiences, would more often than not reach a better conclusion than a latina woman who hasn’t lived that life.”
Is it racist now?
So… Hire a racist for U.S. Supreme Court, hire a tax evader for Secretary of Treasury…Obama certainly is a special talent. He hires all these people with “different points of view” (a.k.a. “foxes to guard the hen houses”) and still ends up getting the exact same result as his predecessors (i.e. “failure”), but with double the approval rating! I guess celebrity means more than ability.
Unfortunately, Math is not so easily impressed and is about to bring the tent down on this circus.
Barry’s approval rating might still be high, but the favor of his policies is slipping. Congress has a lower approval rating than Vice President Cheney…his is rising.
Sotomayer is your typical racist liberal. Liberals see people as objects, members of groups, victims, voting blocks, etc., unlike conservatives who are color/gender blind. All the libs do is bash candidates and nominess that threaten their liberal agenda designed to keep those same groups in a victim mentality. When intelligent and accomplished conservatives like Clarence Thomas or Sarah Palin are introduced, libs attack them in very cruel ways…it’s the nature of liberalism, and the reason for the economic situation we’re in today. It is also the reason things will get much worse. It is likely that Obama will cause an even greater depression than the one FDR caused. The economic issues Barry inherited were created by liberals regulating every step of the economy.
As long as our failing liberal education system and the media continue to lie to the american people, the slope will continue to get steeper. The only way real recovery will ever happen is with a return to our constitutional principles and a major shrinkage of the federal gov’t, and an expansion of state and local gov’t. The ancient failed policies of Barry and his liberal extremeists are destroying this country once again.
Don,
I know you like to throw a lot of BS on this site to aggravate people and drive conversation, but you cannot possibly believe Sarah Palin is intelligent. If you truly believe that she is intelligent then you’ve got a huge problem to deal with…and that is natural selection. It’s a miracle you’ve survived this long, just ask Darwin.
Tristan, Wow, you can quote Rush Limbaugh and Sean Hannity! I have seen that quote, about Ms. Sotomayor, twisted similarly, as to what you propose, a million times.
You need to either come up with an original thought/stradegy or go out and BUY a clue (How is that for macroeconomic theory)! This blog is suppose to encourage original thought, idiot!
As for this, “Zig, you clearly have no interest in an intelligent debate. You also made it clear last time that you know next to nothing about macroeconomics or its relevant history. You have blind faith in people and things that you do not understand. I do not intend to change your mind.” You are clearly an idiot! I don’t…can’t even understand or read your posts. They are so bad! I do know that the market is cyclical! We are going through a tight patch right now. I do know history of the market though. And history proves that the market will rebound. This little rough patch we are in is what is called a correction! The correction is making up for all the runaway “free easy money” and excesses that developed during the past 8 years, with a lack of oversight! I prefer to live my life free from fear!
What does my lack of knowledge of macroeconmoic theory have to do with my ability to understand what is happening? Apparently, I know more good economic theory than you…as I have a good paying job, a pension (supported by your Government), a 401k, bank account, a Roth IRA, an IRA, a brand new house (that is increasing in value), 0 (zero) bad debt and, also, remember I am not the one whining in a blog crying that the economic sky is falling! Get a clue, loser! It is you and idiots like you, NCD, who need a mindset change! OBAMA RULES! Go Mike!
Zig, take a chill pill dude. There’s no reason to lash out. You’re right; this is a blog and Tristan did a Guest Post. So he can say whatever the heck he wants. Bragging about your job and bank account impresses nobody on here. And name calling is childish. Boy, you called Tristan a name; you must be right. Zig, get a clue man and learn how to debate like a man.
Thanks Libby. Perhaps you could detail how Gov. Palin is not intelligent…Becuase if you think she’s not intelligent, I can only conclude that you have the intelligence of my 2 year old son.
Zig,
The recession we’re in, and the future market collapse and depression Barry is taking us into was and is being caused by too much gov’t regulation.
Zig, if you’ve heard that logic on racism before, I have to conclude it’s because the logic is obvious. I despise Limbaugh and wouldn’t know Sean Hannity if he sat in my lap. As I’ve said time and again, I am not a Republican… Regardless, if you would quit creating straw men to divert the issue then there could be a debate.
As for the economy, while you’re right in calling this a correction, and also right that it was caused by easy money policies, it is not a “little rough patch.” This is a chasm opening in the earth. Also, easy money applies to the public sector as well as private, so I wonder how Obama’s $2+ trillion deficit doesn’t amount to easy money? It’s equivalent to a poor, private sector worker like myself spending $10,000 more than I earn after I’d already run up total debt close to my annual income. I’d call that more of the same, but even W’s deficits look reasonable at this point.
Your suggestion that your house is increasing in value is right up there with your comment a few weeks ago about the Federal Reserve and the Great Depression. You simply do not have the facts. Your house is worth what a buyer will pay and not a cent more. As interest rates rise, buyers are willing to pay less and less for your house. The general rule is every 1% increase in interest rates yields a 10% decrease in housing value, because people shop for monthly payments, not total price or interest. This little rule is the reason that your champion Bernanke tried so desperately (and failed) to keep interest rates at historic lows. It was a misguided and foolish attempt to prop up housing values.
All of that doesn’t even touch on the fact that the housing bubble burst. Unless your house is made out of gold bricks, it did not increase in value when the markets were flooded with excess supply and perceived wealth vanished before our eyes, nor when the stock market lost over 50% of its value, draining further demand from real estate as people turned their attention to savings and what’s left of their retirement. Since your house is brand new, you probably have it even worse. There are areas of the country where brand new construction, houses previously selling for hundreds of thousands of dollars, is being bulldozed because it is actually a net liability and not an asset–it is worth LESS THAN ZERO. You really think you understand what is happening?
As I said, be afraid, be very afraid. Your pension is a promise from a government with no respect for the rule of law. Your arrogance only goes to show that government has long passed its constitutional limit and that a massive “correction” is coming there, as well, that will destroy all lawlessness, entitlement, and unsustainability in our governing bodies. Somehow I doubt you’ll be spared the chopping block when the time comes. I only hope you don’t have a family to care for, or your arrogance in this matter could turn out to be quite sad. As always, good luck cheering for the blue team. There’s always the chance that math does not really exist after all.
Don,
I’m going to list some Palin quotes for you:
1. “We realize that more and more Americans are starting to see the light there and understand the contrast. And we talk a lot about, OK, we’re confident that we’re going to win on Tuesday, so from there, the first 100 days, how are we going to kick in the plan that will get this economy back on the right track and really shore up the strategies that we need over in Iraq and Iran to win these wars?” –Sarah Palin, suggesting we are at war with Iran, FOX News interview, Nov. 1, 2008
2. “Absolutely not. I think that, if I were to give up and wave a white flag of surrender against some of the political shots that we’ve taken, that … that would … bring this whole … I’m not doing this for naught.” –Sarah Palin, asked about her plans for 2012 and whether she would disappear from the national political scene if she loses, ABC News interview, Oct. 29, 2008
3. “[T]hey’re in charge of the U.S. Senate so if they want to they can really get in there with the senators and make a lot of good policy changes that will make life better for Brandon and his family and his classroom.” –Sarah Palin, getting the vice president’s constitutional role wrong after being asked by a third grader what the vice president does, interview with NBC affiliate KUSA in Colorado, Oct. 21, 2008
4. “All of ’em, any of ’em that have been in front of me over all these years.” –Sarah Palin, unable to name a single newspaper or magazine she reads, interview with Katie Couric, CBS News, Oct. 1, 2008
5. Katie Couric: “What other Supreme Court decisions do you disagree with?”
Sarah Palin: “Well, let’s see. There’s –of course –in the great history of America rulings there have been rulings, there’s never going to be absolute consensus by every American. And there are — those issues, again, like Roe v Wade where I believe are best held on a state level and addressed there. So you know — going through the history of America, there would be others but–”
Couric: “Can you think of any?”
Palin: “Well, I could think of — of any again, that could be best dealt with on a more local level. Maybe I would take issue with. But you know, as mayor, and then as governor and even as a Vice President, if I’m so privileged to serve, wouldn’t be in a position of changing those things but in supporting the law of the land as it reads today.” –unable to name any Supreme Court decisions other than Roe v. Wade, CBS News interview, Oct. 1, 2008
6. “But ultimately what the bailout does is help those who are concerned about the healthcare reform that is needed to help shore up our economy.” –Sarah Palin, explaining the $700 billion government bailout of Wall Street to Karie Couric, CBS News interview, Sept. 24, 2008
7. “Oil and coal? Of course, it’s a fungible commodity and they don’t flag, you know, the molecules, where it’s going and where it’s not. But in the sense of the Congress today, they know that there are very, very hungry domestic markets that need that oil first. So, I believe that what Congress is going to do, also, is not to allow the export bans to such a degree that it’s Americans that get stuck to holding the bag without the energy source that is produced here, pumped here. It’s got to flow into our domestic markets first.” –Sarah Palin, billed by John McCain as the nation’s foremost expert on energy, clumsily answering a question while speaking off the cuff at a town hall meeting, Grand Rapids, Michigan, Sept. 17, 2008
8. “Nucular.” –Sarah Palin, mispronouncing the word “nuclear” twice, ABC News interview, Sept. 11, 2008
I could go on further, but I think I’ve made my point. She’s an idiot.
1. If you think we’re not at war with Iran, and won’t have boots publicly on the ground soon, you’re a moron.
2. She’s referring to the inappropriate comments given by the media to her. Let’s face it, the media was having a vast love affair with King Barry, and lying about Gov. Palin. The inappropriate shots she took, the convenient lawsuits that came up (she won them all and it cost american taxpayers nearly $350,000), the lies the media told…etc. Char-LIE Gibson. If you think she ever got a legitimate shot, you’re a moron.
3. The Vice President IS in charge of the Senate. You’re likely a moron.
4. She couldn’t believe that Couric is so stupid to waste time asking what she reads…???? Don’t forget, this is comeing from Katie Couric…not a very reliable interviewer when it comes to truthfullness….you’re really looking like a moron.
5. It doesn’t really serve a purpose to know any other Supreme Court decision. After a court incorrectly finds the murder of innocent children as constitution, Roe V. Wade is the best place to start when it comes to dismantling the cruelty of liberalism. It’s the ONLY supreme court decision that americans care about, except for the Brown case…you’re a moron that supports baby murder.
6. She’s correct. The bailouts will eventually turn to healthcare reform…AKA: healthcare illegally forced on private citizens after forcibly taking their money. She had the vision to see what the libs were talking about before most could…turns out she was right, and you’re a moron.
7. She still sounds better than Barry speaking off the cuff. But she’s right here again. Why do liberals continue to force america to be addicted to foreign oil…???? Let’s drill our own. Duh….you’re really a moron.
8. So not only do you think it’s okay for a stupid old man to make fun of her daughter getting knocked up by A-Rod, it’s also okay for you to make fun of her accent….moron
Liberals like you are extremely cruel human beings that are destroying this county. Plus you’re a lyin’ linear moron. I just can’t figure out why you hate so much…
I don’t hate Don, I just take things for what they are. Palin is an idiot, it’s clear as day. She is a big part of the reason John McCain lost the election, but not the entire reason. I have a friend who is a lot like you politically, and even he agrees that Palin is stupid.
And when did I say it was ok for Letterman to make fun of Palin’s daughter? And when did I make fun of her accent? I didn’t do either of these two things.
I’m happy to see that the rest of the people here can now understand how big of a imbecile you are, thanks to your support of Sarah Palin. I’m surprised by this too considering the only thing between you and welfare is your wife.
Palin got so many more votes for McCain than he would have received on his own or with any other candidate. It would have been a thumping without her. She was generating 3 times as many attendees to speeches than Barry was.
It’s too bad no one in the media makes fun of King Barry for how stupid he is…he makes Gov. Palin look like Einstein…57 states, inflate your tires, and spread the wealth…Image how far we could go with Stupid Barry tricks if we include things he’s said and done since he took office…If you think Palin is stupid and Barry is not stupid, then you desperately need to get your refund. Public education at every level has failed you….hate man.
Sarah Palin has accomplished more for her state, and this country than Barry ever will. Considering how much he’s messed up our economy, how anti-American he is, and how cruel he is, he might slip into the negative measures compared to Gov. Palin by the time he loses in 2012…If he’s nominated again…
Don,
You must be one of those “Small town, Main St. Americans.” Ya know, the kind that are “Pro-American”.
You should have noticed that I didn’t include a lot of the gaffes that I could have with Palin. I left out some of the ones that I thought were just a simple mistake. Sort of like Obama saying he’s been to 57 states. See, did he say that the Union has 57 states? NO. He meant he’s been all over and back to some of the same states.
Palin makes Bush look like a genius. My favorite is her pronunciation of the word “Nuclear”. YEAH DON, SHE’S REALLY FREAKIN’ INTELLIGENT!
Kristan…there you go again! When are you gonna get your facts straight? The house my wife and I share is going up in value. We are located in the only city in Portage county that is growing in housing starts, population density and average income. Nice try though! Before you come with your outrageous comments, reflect. For example, the quote, “Your suggestion that your house is increasing in value is right up there with your comment a few weeks ago about the Federal Reserve and the Great Depression. You simply do not have the facts.” Now who looks like an idiot? Building in my developement is not done. We bought our house for X. Houses in this developement are now selling for X+$20000.00! We finished our basement. We have upgraded cabinets and carpet. It will sell..and you will weap in self pitty! And with the steady stream of people looking to put their tax credit to good use, a brand new house is looking like free money! I am sitting in the sweet spot…you? Oh, that’s right. You would rather wallow in self pitty and be a martyr for your “conservative principles.”
I put my house up for sale last year. It didn’t sell right off. I took it off to preserve the value. I will put it back up for sale in a year or two. I live in a very desireable community setting, with a pool; tennis courts; many young families and a club house. It will sell and I will turn my profit into a new, bigger and better house in a more desireable community! Questions? Now who is a financial genious, idiot?
As for this moron, Hal… Hey, Hal, how old are you? Chill pill? “Zig, take a chill pill dude.” Alright, “DUDE.” Are you saying that I cannot voice my opinion, Hal? Aren’t I allowed to respond to Tristan’s post? After all, this is a forum to encourge the free-flow of opinions, isn’t it? You need to shut your pimply mouth and get a clue, go back to highschool…or both!
As for your quote, “Bragging about your job and bank account impresses nobody on here.” I was illustrating the fact that a 401k, by itself, does not guarantee a secure retirement. One needs diversity and diversity from multiple sources, idiot! But, you wouldn’t understand. We are talking “GROWN UP” talk, now, little boy! EFF OFF!
This is great, Zig…
“I put my house up for sale last year. It didn’t sell right off.”
Ah…no…it didn’t sell because nobody would buy it. News flash…nobody will buy it today either…without you sustaining a loss…because there are plenty of properties out there that will happily sell for a loss.
Zig…you have a gov’t job that pays next to nothing…are we to be impressed when you talk about all of the “investments” you have? Get real. The only thing you have going for you is that you can’t get fired because a union will back up your every stupid mistake…until a conservative gets back in the white house and cuts the federal gov’t staff by 25%…I can’t wait for that to happen!
I don’t think you’ll have to wait, Don. The market is handing Bernanke his hat. Once he and the Fed are destroyed, Obama will have no suckers left to cover his $2,000,000,000,000 deficits. He’ll probably try to make off with our 401(k)s, but unless he wants a pitchfork to the neck, he’ll sit by and watch as government crumbles. Zig will probably lose his job and his pension and have to sell his house at a 50% loss, unless he’d prefer Chapter 7. Maybe he can move in with you and your family.
Zig, I’m not sure I’ve ever heard anyone claim to be a genius immediately after making a wild statement about something that has almost no probability of happening. I’ll take your word for it when you actually have accomplished what you stated, not that I expect a rabid supporter of Obama to understand the importance of a consistent track record or doing what you say you’re going to do.
Mike, I think you’re right on about Palin. Now if only you’d see past Obama’s facade… He’s essentially Palin with a vocabulary. Whereas she can’t name a single paper or magazine in publication, he will convince you that the Wall Street Journal is the premier fashion rag of L.A. He knows how to make empty statements sound fantastic to the layperson, but he has no idea what he’s doing.
NCD, WTF? I don’t even know wher to begin. As for my investments…GET A CLUE! At the end of our live, we should sit down and compare notes. I bet I finish ahead of your white trash ass!
My job may not pay the most, but it pays better than yours does… I am not in my current position for the money. I enjoy great job security, great benefits and a flexible schedule. Is it perfect, no. But, it is a good job to raise a family. See, it is trade off, Money vs. Security and Flexiblity! Also, I enjoy serving the fine citizens of this country. I, daily, perform a service that few would want to provide and for that I am fairly compensated! You say, I will lose my job. Well then, I will collect unemployment benefits and be paid 90% of my current salary to do nothing by the same Federal Government for which I currently work 40 hours a week, while I look for a new job. Doesn’t make much sense does it? Also, I am vested in my pension and 401k/TSP so they will be paying out a ton of money for me not to do any work for them, in the long run. While, they could get a huge benefit for their invetmant, as I serve the good people of this country and the import/export community! But, it doesn’t matter, because it is not going to happen!
Many people will sell for half of what they paid for their property. However, I am not that desperate! As a matter of fact, I am not desperate at all. Maybe, if I lived in the hood, like NCD, I may be worried about things.
Kristen, take this promise to the bank! I am in a better place than most of America, probably you too…And definately NCD’s trashy ass !
As for NCD, do you live on this planet? Everything you wrote is wrong, “Ah…no…it didn’t sell because nobody would buy it. News flash…nobody will buy it today either…without you sustaining a loss…because there are plenty of properties out there that will happily sell for a loss.
Zig…you have a gov’t job that pays next to nothing…are we to be impressed when you talk about all of the “investments” you have? Get real. The only thing you have going for you is that you can’t get fired because a union will back up your every stupid mistake…until a conservative gets back in the white house and cuts the federal gov’t staff by 25%…I can’t wait for that to happen!” You cannot eqaute your own personal experience to mine. As I’ve told you in past posts, I have good strong investments. Did I lose some, yes. Who didn’t? Will I recover, yes. Will I come back stronger, yes! Does your martyr mindset hinder you, yes! You are white trash. Admit it! You have no JOB. You quote the Bible and hope it will save you. You cannot afford to go out or lunch on any given day.
NCD, you drink too much, but think too seldom. You have many ideas, but not enough action! I know you and I know what the man you are. YOU are a trashy goofball who would do and say anything he had to in order to appear to be right! Your insistance on Conservative thought will only hinder you in the long run (how have conservative principals helped you)? Aren’t you still poor? Don’t you live in a small house in University Heights (yeah, nice neighborhood)? Don’t you struggle to buy stuff? Conservative thought is for winners and you clearly aren’t and will never be a winner! I am only trying to help you…and you can take that to the bank!
Zig, I hate to burst your financial dream bubble, but not only have I not lost anything, I have profited from this downturn. Rather than talk out of my ass, I align my actions with my words, and so far I have not been wrong about any of it. Don’t get me wrong, I’m in no position to come out of it with fabulous wealth, but I’ve managed to diversify and come out ahead 7% or so. I expect crushing deflation to increase that spread a good deal in the near future. Time will tell.
The only “mistake” I’ve made was purchasing a house too early in the decline, but that was due to factors well beyond dollars and cents. Since it was a long term purchase and within my means, and since I refuse to play investment games with my family’s home (it simply is not a financial investment, contrary to what the National Association of Realtors might say), it doesn’t keep me up at night. I do acknowledge, though, that there’s no way it would sell today for what I paid.
That reminds me of the thing about new construction… you imply that because comparable new construction is selling for $20k beyond what you paid, your house has increased in value by $20k. While I would question whether or not these are the same product at all and if these new houses don’t have significantly-better accommodations, regardless, no one is going to pay that much for your used goods when they can get the same or better product brand new for the same price. That’s the problem with buying out of mass production. You can’t expect some mystical force to consistently increase the value of the product when everyone else already has it or there are 200 more for sale right around the corner. Simple supply and demand. Be sure to let me know when you start seeing those bulldozers.
As for your pension, unemployment, 401(k)… you’re not getting my point. With GM bondholders being wiped out, precedent has been set that federal government has no obligation to follow the letter of the law. Precedent has also been set elsewhere that union contracts, even in government, do not survive bankruptcy. This in turn means that if it comes down to it, you get fired, you get no unemployment, you get no pension or benefits, and on top of that what’s left of your 401(k) might not be yours anymore. Combine that with the mathematical unsustainability of government spending and you have a very ugly situation on your hands.
More evidence that this is not just a typical recession:
http://www.cfr.org/content/publications/attachments/2009OutlookFinal_Long.pdf
Note that I think even these charts are a bit rosy, considering, for instance, that the method for calculating unemployment has changed dramatically over the years. So these charts are not apples to apples. I’d say realistic unemployment is somewhere between 12% and 16% right now, thought the official number is ~9.5%. GDP is another nonsense calculation, open to “interpretation”… but there you have it.
You crack me up Zig…
That was a good read, Tristan. In addition to looking at the economic indicators that are telling us that really tough times are ahead, we can look at Obama’s behavior. He’s doing the same types of thing that FDR did to cause the depression. It’s an eerie repeat of FDR’s horrible economic policies.
Actually history shows that FDR got the United States out of the depression. If your sham of an education had taught you anything about the New Deal, you’d know that.
You know what, all joking aside, I don’t have a problem with conservative view points. I know what response you’ll come back with or at least what your views are of FDR and the New Deal. It’s all good and I don’t really disagree with any of it because nobody really knows how the economy would have reacted had Roosevelt done nothing. It’s a question that can’t be answered without a time machine.
I always say that I’m neither liberal nor conservative, but Don continues to label me a liberal. That’s fine. The reason why I don’t mind being labeled a liberal is the same reason I will almost always vote Democrat. That reason is that conservatives are a’holes!
you’re incorrect, Libby…history proves that FDR came into a recession and caused the depression…as the saying goes, FDR made it GREAT! The war ended the depression.
You need to study history…had Hoover and FDR done nothing, it would have corrected itself just as the depression Harding inherited, which was worse than what FDR was dealing with…Harding did nothing and the market fixed itself quickly. That’s why we never really studied the Harding depression. I’m thinking you and the morons who “taught” you need a refund.
Don,
How the hell could any President do absolutely nothing when unemployment had reached 25%? I don’t care if some of the programs FDR came up with weren’t that great, because a few of them actually helped our country. At least he did something. You’re an idiot for thinking the economy would have righted itself.
Kristan, No, you don’t understand… It’s not that I don’t think we are in for a really hard “Patch of time.” It’s that I don’t care! You can post all the graphs you want. You can tell me over and over that this time is different. I say history is create every day. Greatness is happening everyday…everywhere! Jump on the liberal/optimist train. It’s a wild ride! Conservatism is so cold and boring…
I say, “I Lost,” but what I really mean is, “I am down on ‘PAPER’ huge, about 29%, but made multiple thousands in dividends.” See, I came from dirt and to dirt I will return. Who cares? It’s all in your perprective. Economics and economic theory are for square headed people! Perspective!
Although, I still have a pension. If I lose my pension and the world is in the crapper, as you propose, all wealth and people’s perspective of wealth will fly out the window. Everyone will be brought down (or up) to the same level. I will be rich, because I am a winner. If the end of time is coming, as you propose, we will all be pissing on trees and eating rodents. I will still be rich. I will still be a winner. If it becomes as bad as you say, I say fuckit! I never enjoyed the benefits of being “rich,” so I’ll never know what I am missing. Who cares? I will still be a winner, because I will finish ahead of NCD. One’s perspectives on life, wealth and value become important in times like these. I say fuckit! I am a winner! What else you got?
NCD, FU! Go Mike!
Libby,
History shows that when nothing is done during recessions and depressions, the economy rebounds. When gov’t intervenes, the economy crumbles. History always repeats itself…facts are very stubborn things for ignorant liberals like you. I’d suggest you educate yourself, because you’re either ignorant or stupid…and absolutley wrong.
FDR’s liberalsim CAUSED the 25% unemployment just as Obama’s liberalism is causing the current unemployment tailspin. FDR extended the unemployment and depression just as Obama is extending and increasing the current unemployment and recession and depression we’re in.
Everytime the U.S. was in a recession/depression, and nothing was done, the rebound was quick. Everytime the gov’t intervened, the rebound was slow and the legislation was unconstitutional…but libs don’t care about the constitution…they just care about beating the little guy down so they can get votes…
You dumbass Don. FDR did not cause the 25% unemployment. That was there when he was elected. That fact cannot even be argued. It’s a fact.
Also, how many times has history shown that doing nothing fixes a recession or depression? How many F’ING depressions have we gone through Don??? Your little buddy GWB did absolutely NOTHING for 8 years to fix the economy, and that turned out real well didn’t it? Take your conservative ideals and eat it, at least then it would match the rest of the bullshit coming out of you.
One more thing, I’ve read that the number of new jobless claims is actually down. I guess some people choose to work rather than mooch off their wives. Think about that before you talk about unemployment. You’re just a divorce away from welfare and unemployment.
Why do you continue to ignore facts…The first 8 years of FDR-he maintained and unemployment rate above 14%…When he initiated the New Deal, it jumped up to 19%…all caused by him. There’s a reason we have presidential term limits….its name is FDR!
Harding inherited a depression worse than FDR. Harding did nothing and the economy rebounded quickly. Facts are stubborn things for people like you. Let me guess, you want to redefine the word “fact.”
Reagan inherited a liberal mess from Ford and then Carter. He lowered taxes and stepped aside…guess what happened? The opposite of what FDR and Obama caused…great implosions of wealth among every class in america, and the destruction of fascism and communism in eastern europe.
The libs only care about the rich and keeping the poor in the soup kitchens… I’ll prove it to you in 2 years when I giving you free soup as a volunteer.
You’re a funny guy there Don, implying that Obama has caused anything. It’s a compliment that you’re lumping him in with FDR though. A comparison like that is something this country needs. Thank god for FDR. If it weren’t for him and his creation of jobs, we wouldn’t have our highway infrastructure that we have today. We wouldn’t have the airline industry because airports would not be large enough to handle bigger planes. It’s his New Deal that built Hopkins and many other airports across the country.
Your description of liberals is laughable. In fact it’s the exact description I’d use of a conservative. If liberals only cared about the rich, then why would we raise taxes on the rich but not the poor? Why would liberals support programs they believed to help the poor? You’ve got your definitions mixed up there Don. I think maybe you should switch sides and be a liberal considering that you clearly despise conservatives by that description. …Unless you’re just trying to redefine the word liberal. But damnit, we can’t go and redefine words now can we. I mean we can’t even go in and amend the definition of words just a little bit to stay current with changing times. (ROLLING EYES AT YOUR IGNORANCE AND PATHETIC FREELOADING).
You’re cracking me up, Libby.
Likewise mooch.
Zig, finally we have no argument. To dirt we will return, so we better get used to the idea. I, too, have no problem with this. Why do you think I bother discussing it? I do it so that people understand their legs are about to get kicked right out from under them.
Sorry, but I refuse to join the liberal hysteria train. I’m not an “ignorance is bliss” kind of guy. I don’t like lies, I don’t like deceit, and I don’t like theft. By your argument, a rape victim’s trauma is their own fault, they should make the best of it… well, Obama tried to be thoughtful and use some lube at least, but Bernanke handed him a bottle of hot sauce instead. It’s a wild ride, alright. Think they’ll be tears of joy?
Mike, you are so sold down the river. Jobless claims down? So we’re reportedly losing 600,000 jobs a month instead of 650,000? You think that is good news? There are three things to consider, here. First, these numbers are being “adjusted” later to be higher. They release them low, then change them a month later once no one is watching. Who cares about April? Second, we haven’t even begun to see the fallout from GM, Chrysler, and their suppliers. Third, temporary hiring for the census, something like 1.5 million jobs altogether, is going to put a very short term skew in these numbers. It won’t last.
You think W. did “nothing”? Apparently that’s what you’ve been sold. Greenspan, who blew the Nasdaq bubble in the 90s and watched it explode about when W. got going in office, worked together with W. to replace that bubble with the housing bubble so W. could cut taxes and prove that tax cuts for his buddies bring prosperity.
http://market-ticker.org/archives/1124-None-Of-This-Was-A-Mistake.html
Now Bernanke, complacent in the housing bubble, is running the dog and pony show. How do we get out of unsustainable debt? SPEND, SPEND, SPEND! As Cheney said, “Reagan proved that deficits don’t matter.” Too bad Reagan did no such thing and was embarrassed by his deficits. I can’t believe how happy you are to be part of Bernanke’s experiment to prove that the New Deal failed because it wasn’t big enough. By the way, it was largely a failure. We can argue all day about what caused this or that, but in the end, the New Deal was implemented and the Depression continued, even dropping again in 1937.
Tell me, what did Japan do wrong? They already did in the 90s most of what we’re doing now. It didn’t work for them. The rest of the world was growing at an incredible (yet unsustainable) pace all the while, and Japan, complete with “quantatative easing” and other such wild theories, still managed to have a Lost Decade. They still haven’t recovered. Do you think we can even have that good of a result while the rest of the world collapses?
So the answer is simple, really: Let the failures happen when they are due and let those responsible take the fall. Take the short, sharp shock and get right back up. The alternative is an immoral shift of pain, longer, gradual pain that ends up being more severe, and a pat on the head for being completely irresponsible, which will lead to more irresponsibility in the future. Why would anyone ever be responsible if they don’t have to own up to the consequences? The bankers are laughing all the way to your wallet.
I think it’s very important to be clear here. Liberalism is what has caused this mess. Whether that liberalism was implemented by a republican or democrat, liberalism is the problem. Liberalism, just like cancer, does not discriminate when it comes to who it hates, hurts, beats down, or kills. Liberalism is an equal opportunity annoyer, and an equal opportunity racist. It hates everyone except for tyrants, and works to destroy lives.
Don,
You are very confused about liberals and conservatives. That is definitely clear here. We’ll keep working on it though and sooner or later you’ll get it right. I wouldn’t ask your wife to clarify the matter because that might start a huge argument between the two of you…and I wouldn’t want that to mess up your free ride.
Did I say Don?
I meant Mooch.
Tristan,
Have you been following King Barry’s illegal behavior of firing 2 inspectors general without reason or notice? This is yet another example of the lawlessness of the libs.
Don, you sure do catch some crap for taking a few years off work. I’ll hand it to you, though. I know raising four kids would be a good deal harder than my cushy desk job.
I think the problem with blaming liberalism is that the word doesn’t really have a meaning anymore. As you noted, democrats and republicans, a.k.a. liberals and conservatives, are one and the same anymore in a lot of ways. It isn’t possible by definition, but that’s what has happened. I can’t say to someone, “I’m a conservative,” because the word doesn’t mean what it is supposed to mean and they’ll get the wrong idea.
I hadn’t heard of the inspectors general yet. Laws are being ignored left and right and new laws are being created. Bankruptcy laws are out the window, tax laws don’t apply to the ruling class, now the Fed has managed to completely ignore the Federal Reserve Act of 1913 by purchasing assets not guaranteed by the U.S. government and Obama’s solution is to grant them more authority. Not to mention that Greenspan and Bernanke are largely-responsible for getting us here.
Every time I hear one of these clowns open his mouth I’m reminded of how real the pain is going to be for the rest of us. Cancer is a good analogy. The good news is that our children should have strength that our pathetic generation cannot even imagine.
The inspectors general stories are interesting. It is so much more difficult to keep up with the negative activities of this adminsitration compared to the Bush Administration. I think that’s because of the gushing love affair the media has with Obama, and their refusal to report it…plus, there is 5 times as much inappropriate activity to keep up on in Obama’s case than in Bush’s case.
I just read it… so someone finds corruption in one of Obama’s pet programs and gets canned. Apparently, it is expected that taxpayers foot the bill for former-NBA-star-yet-still-loser Kevin Johnson to have his car washed. Judging by his track record, I bet it was a bikini car wash with high school girls.
It’s true, almost every day there is something absolutely-outrageous happening. I’m going to love every minute of government implosion with this administration on top. I used to think Bush was a lying piece of garbage…he can’t even hold a candle. And you’re right, the media couldn’t care less. They were all over Bush, as they should have been, and now it’s nothing but utter nonsense about hope, green shoots, and propaganda. What a bunch of partisan, sellout hacks. I’m sure you’ve heard about ABC and the one sided Obama-mercials to come regarding health care. Not just willful blindness on their part, but blinders for the rest of America, too.