his whole setup â in which millionaires and billionaires gambled on mountains of dangerous securities, with taxpayers providing the stake and assuming almost all of the risk â is the reason that it's insanely premature for Wall Street to claim that the bailouts have actually made money for the government. We simply can't make that determination until the final bill comes in on all the dicey securities we financed during the bailout feeding frenzy. -------------------------------------------------------------------------------- Great point. FYI for most on ET and probably a wake up call, all of my clients and I mean all, do not believe in the US STOCK MARKET. They do not trust Wall STREET and they say "Foreign Markets" are far more transparent and less regulated by Governments, including China. I deal with Accredited Investors only, who have less than 1% of their net worth in US equities. Some play around with that 1%, others throw it in some money managers fund and its for their grandkids or kids. I just returned from the Canary Islands where we had a Meeting. Private Equity Players from all over the world attended. The only talk I heard about "PUBLIC TRADED COMPANIES" in the US was directed at which ones can we talk into going private. Period. What is attracting Money into the US not Equity markets, it is the HARD ASSETS Arena. You would be surprised at what the SWFs and private money are buying while the American People clap and cheer the INDU on. The tone of the meeting was not directed towards the US. Most of the US individuals that attended the meeting were looking to move their money off shore as they have already allocated the % in hard assets, Oil and Gas DPPs, in the US. This country has two types of FREE LOADERS. One is the Poor who the scumbag Liberals keep poor. The other is "WALLSTREET" and those who gamble with their money (BANKS, et all) knowing that they will be bailed out. Both groups are destroying America. The Rolling Stone article is spot on. So, I say fuck Wall Street and Scumbag liberals and their Freeloading voters. Let them sleep in the shit bed that they are building for themselves.
I wouldn't say that. "As America girds itself for another round of lunatic political infighting over which barely-respirating social program or urgently necessary federal agency must have their budgets permanently sacrificed..." Urgently necessary? Like the Dept's of Education and Energy, both Carter-era inventions that do nothing but suck taxpayer dollars and employ busybodies and draconian bureaucrats? If the author has worked with or around the Fed. gov't and is intelluctually-honest, he'd know we could make massive cuts in Federal spending. There are thousands of "workers" who do little-to-nothing but are basically impossible to fire. He's right on some things, but is either blindly partisan or just plain stupid about others. Anyway, I liked the rest of your post, EMRGLOBAL.
The US economy is in DEEP trouble. At this rate the US is going to run out of people to to borrow from! I read an article recently that really scared the crap out of me! Something about interest on debt surpassing national defence spending and historical empires toppling. History repeats itself gentlemen. Its a fact of life. I'm moving to Brazil in T minus 2 years!
The spending reductions mentioned were through the "tax code". Please ask yourself how the federal government spends via the tax code? Plain and simple, every tax deduction is seen as uncollected funds or monies spent...... this is the new legalese being spun. Plain talk, mandatory tax increases by elimination of deductible items if budget projections by 2014 do not show the debt-to-GDP ratio has stabilized and is declining in the second half of the decade. Whats wrong with this picture?
http://news.yahoo.com/s/ap/20110415/ap_on_el_ge/us_obama_interview just like i said few posts ago..there is will be a "drama" once again,just like last friday about those "historic cuts" here we go again: so fucking be it. it's doesn't make any fucking sence to me to cut few billions last week,then raise the ceiling by few hunded billions next week. one great fucking comment from this article:
It's always planned for down the road latter on. Just not before the 2012 election... liars, bunch of crooked thieves.
you know whats really funny EMRGLOBAL? ... you everything you say makes sense, however the irony is off the charts because you yourself are middle class. You pretend to be rich and you wish everyday you were, but you aren't. so you wake up, mfer :eek: