lol America on shutdown

[Gonuclear]

I've tried to live a life of no regrets, ...but I will say this:

I truly regret the fact that I do not have the ability to be a fly on the wall to be able to see the look on your face, when the derivatives bubble pops... the stock market crashes... and the FRN plummets to it's true value. THAT I know I will regret.
 

OK... so you're not as dumb as you sometimes sound.
This is sound & prudent. Congrats, ...but I still wanna be a fly on the wall.  

And who the hell are you?  If you know there's a derivatives bubble about to burst, why are you posting that rather than short selling them?  Or the same for stocks? Because you don't have the dough?  Or you're talking out of your ass?  

I'd bet on the the latter.

Actually, I'd bet both are true.

[loco]

And who the hell are you?  If you know there's a derivatives bubble about to burst, why are you posting that rather than short selling them?  Or the same for stocks? Because you don't have the dough?  Or you're talking out of your ass?  

I'd bet on the the latter.

Actually, I'd bet both are true.

Eggxactly!   

[Thick Nick]

wow, must be embarassing, it's basically like Obama saying "Sorry I gotta cancel our scheduled meeting because my country can not afford to pay for my flight."  

http://www.bbc.co.uk/news/world-asia-24380990

Must be embarrassing... You follow a man that was a pedophile, murderer, rapist. If he was born in any other culture he would be demonized as a vile stain on humanity. But you base your religion, politics, and morals on his teachings. Well done!!

Since you and your subhuman brothers make such sound, rational choices like these, I'm sure no Muslims countries are worse off then ANY country in the west... Oh wait.


Momo was a pedo.

[24KT]

Whereas the karatbars pyramid scam you shamelessly promote is a "sound" investment...

I knew it was only a matter of time before someone posted a fly swatter ...hehe, ...thought it would be avxo tho.

BTW: You're welcome for the setup.

No pyramid, no scam, and no investment, ...but the Mayor of Stuttgart certainly loves it.

...as does the mayor of Disney.  

[24KT]

And who the hell are you?  If you know there's a derivatives bubble about to burst, why are you posting that rather than short selling them?  Or the same for stocks? Because you don't have the dough?  Or you're talking out of your ass?  

I'd bet on the the latter.

Actually, I'd bet both are true.

What the heck do you think acquiring gold is?
Going long on physical gold = shorting the dollar (without the margin calls)

Shorting derivatives indeed? pffffft? Why would I want to short sell a pumped up stock?
So that when the market crashes, and cash looses it's purchasing power, ...I'll get a ton of worthless paper?
Are you insane?! Sounds to me like you're the one not only talking but thinking out of your ass!
If you had just half the brain you think you do, ...you'd be embarassed by your statement?

[24KT]

LOL...24KT/JaguarEnterprises calling avxo dumb....WTF?    

I didn't say he was dumb. He's a pretty intelligent guy, ...he's just ignorant about a few things.
That doesn't make him dumb, it's just makes him sound dumb... sometimes. The truly dumb are those who read a statement and completely misinterpret it's meaning by a full 180 degrees. Those who read a statement disagreeing with something they said, ...and they jump up & down shouting "See, so & so disagrees with you" That's F'ing loco!

[a_ahmed]

lol:

[a_ahmed]

Americans the most broke nation on earth;

http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/americans-trying-to-keep-up-with-the-joneses-and-going-broke/article12060070/

The Joneses Are Broke
Many of the people driving around the suburbs in their giant SUVs while talking on their new cell phones are deeply in debt. If you ask them how they are doing, they will tell you that they are just barely getting by. According to a Federal Reserve Board study, 43 per cent of American families spend more than they earn. Statistics from the Federal Reserve Board also show that, in 2005, household debt was at a record high when compared to household income. Not surprisingly there was also a record number (2,039,214) of consumer bankruptcies filed in 2005 according to the American Bankruptcy Institute .

As mentioned earlier, the grim outlook isn’t limited to America either. A survey conducted by Newspoll Market Research indicated that nearly two-thirds of Australians say they cannot afford to buy everything they need. Yet, the World Bank cites Australia as having the twentieth highest per capita income in the world according to the publication “World Bank Development Indicators 2006”. Luxembourg, Norway and Switzerland took first, second and third places. The U.S. came in at No.6 and Canada at No. 19. Why so much debt and such a grim outlook from areas of obvious affluence? It’s simply a matter of people spending far more money than they should. If you can “afford” life’s luxuries but aren’t funding your 401(k) and maximizing your retirement savings , you need to reevaluate your financial situation.

[a_ahmed]

U.S. Is Broke, Can’t Afford to Raise the Debt Ceiling says Peter Schiff

http://finance.yahoo.com/blogs/breakout/u-broke-t-afford-raise-debt-ceiling-says-114000942.html

"The reasons we have to raise our debt ceiling is because we can't pay our bills," Schiff says. "We're broke and we can't pay for anything, we have to keep going deeper and deeper into debt."

[Gonuclear]

What the heck do you think acquiring gold is?
Going long on physical gold = shorting the dollar (without the margin calls)

Shorting derivatives indeed? pffffft? Why would I want to short sell a pumped up stock?
So that when the market crashes, and cash looses it's purchasing power, ...I'll get a ton of worthless paper?
Are you insane?! Sounds to me like you're the one not only talking but thinking out of your ass!
If you had just half the brain you think you do, ...you'd be embarassed by your statement?

Going long on gold is not equivalent to shorting the dollar because it is possible for both gold and the dollar to appreciate with respect to other currencies.

And gold has been a rotten investment so far.  A year ago, for example, it was at $1774.70 an ounce; now it's at about $1200.

Also, the "market crashing", unless you are referring to the Forex market itself, does not entail the dollar losing its purchasing power, my friend. 

[avxo]

Going long on gold is not equivalent to shorting the dollar because it is possible for both gold and the dollar to appreciate with respect to other currencies.

And gold has been a rotten investment so far.  A year ago, for example, it was at $1774.70 an ounce; now it's at about $1200.

Also, the "market crashing", unless you are referring to the Forex market itself, does not entail the dollar losing its purchasing power, my friend.

Huh... none of that was mentioned in the circlejerk, err, I mean the 15 minute marketing presentation she attended on this stuff, where she and everyone else high-fived themselves and praised each other for being super-smart and buying gold in tiny amounts, in anticipation for the day when you can trade plastic cards of gold at your local grocery store. I'm still not sure how you get change in such a scenario, but hey... that's for the advanced seminar.

It's a pity though... 24KT comes on a body-building forum expecting to be able to find gullible people to take advantage of. And what she finds is a number of people who not only know the subject better than her, but have more than just superficial knowledge and can completely destroy the arguments she's copy-pasting.

[Gonuclear]

Huh... none of that was mentioned in the circlejerk, err, I mean the 15 minute marketing presentation she attended on this stuff, where she and everyone else high-fived themselves and praised each other for being super-smart and buying gold in tiny amounts, in anticipation for the day when you can trade plastic cards of gold at your local grocery store. I'm still not sure how you get change in such a scenario, but hey... that's for the advanced seminar.

It's a pity though... 24KT comes on a body-building forum expecting to be able to find gullible people to take advantage of. And what she finds is a number of people who not only know the subject better than her, but have more than just superficial knowledge and can completely destroy the arguments she's copy-pasting.

  you are a gentleman and a scholar.  Aside from being right, of course.

[240 is Back]

.

[Gregzs]

Surprise, Surprise...Taxes Still Due!   

The IRS is reminding taxpayers that "the Oct. 15 deadline remains in effect for people who requested a six-month extension to file their tax return." They are also letting taxpayers know that the "current lapse in federal appropriations does not affect the federal tax law, and all taxpayers should continue to meet their tax obligations as normal. Individuals and businesses should keep filing their tax returns and making deposits with the IRS, as required by law."

According to the IRS, more than 12 million individuals who have filed for an extension have not filed their Form 1040 for the year 2012. However, in fairness, they still have five days...

[a_ahmed]

Two more days and the plot thickens

[Shockwave]

Surprise, Surprise...Taxes Still Due!   

The IRS is reminding taxpayers that "the Oct. 15 deadline remains in effect for people who requested a six-month extension to file their tax return." They are also letting taxpayers know that the "current lapse in federal appropriations does not affect the federal tax law, and all taxpayers should continue to meet their tax obligations as normal. Individuals and businesses should keep filing their tax returns and making deposits with the IRS, as required by law."

According to the IRS, more than 12 million individuals who have filed for an extension have not filed their Form 1040 for the year 2012. However, in fairness, they still have five days...

suprise... theyre shut down, they refuse to pay out, but fuck you, you still pay them!

[avxo]

.

That cracks me up. Sadly, the salient point of the second frame probably isn't too far from the truth.

[a_ahmed]

http://www.bbc.co.uk/news/business-24541140

So the debt is 17 trillion in the next five years the debt will probably reach 23 trillion. Then we'll have the same thing happen again and it'll be even worse.

The united states of america is a ticking time bomb/ruined already.

[Gonuclear]

http://www.bbc.co.uk/news/business-24541140

So the debt is 17 trillion in the next five years the debt will probably reach 23 trillion. Then we'll have the same thing happen again and it'll be even worse.

The united states of america is a ticking time bomb/ruined already.

Don't you read what you post?  The article in question makes the point that the US debt is not that large, when compared to the size of its economy.  Particularly when you compare it to other nations.

I think you're better off sticking to your usual fringe sources for anti-American material.  But even then, you might want to read your source to make sure it is supportive of the point you are trying to make, before you post it.  You know, just to be sure ....

[avxo]

Don't you read what you post?  The article in question makes the point that the US debt is not that large, when compared to the size of its economy.  Particularly when you compare it to other nations.

I think you're better off sticking to your usual fringe sources for anti-American material.  But even then, you might want to read your source to make sure it is supportive of the point you are trying to make, before you post it.  You know, just to be sure ....

17 trillion dollars is too large, by any metric. We've been able to afford it because the interest rates we got were so good, but enough is enough already.

[Gonuclear]

17 trillion dollars is too large, by any metric. We've been able to afford it because the interest rates we got were so good, but enough is enough already.

Sorry for the delay in responding.  I had to locate an asbestos suit, but I have it on now.

I don't think the USA has a burning deficit problem.  It is true that the national debt grew by almost $7T under Obama.  If that were to continue, it would be a problem big time.  But the yearly deficits are coming down now, mostly because the economy is recovering (albeit at a snail's pace), and so tax revenues are growing again.

The current national debt is equal to about one year's GDP.  Compare that to a homeowner with a mortgage equal to one year's salary, but no other debt.  No one would call someone like that over-leveraged.

The US government owns assets equal to approximately $100T.  Private equity totals another $50T (net of debt). That is $150T in assets versus $17T in liabilities, or a debt/asset ratio of 11%.

So, from either an income or asset point of view, US debt levels are conservative relative to those of many other countries, which is what the article a_ahmed referenced says (although a_ahmed was trying to make the opposite point).

Of course I agree that we are spending too much, and entitlements in particular need adjustment.  I think that could happen if all the posturing and rigidity on both sides were abandoned.  

[avxo]

I don't think the USA has a burning deficit problem.  It is true that the national debt grew by almost $7T under Obama.  If that were to continue, it would be a problem big time.  But the yearly deficits are coming down now, mostly because the economy is recovering (albeit at a snail's pace), and so tax revenues are growing again.

I guess that depends on your definition of "burning." I don't think we're off the cliff, but we are very close to the edge and it's an unsteady cliff. It's not a comfortable position to be in. And it has nothing to do with being overleveraged.

The current national debt is equal to about one year's GDP.  Compare that to a homeowner with a mortgage equal to one year's salary, but no other debt.  No one would call someone like that over-leveraged.

I don't think that comparison is apt, because the GDP isn't the government analog of a citizen's salary.

The US government owns assets equal to approximately $100T.  Private equity totals another $50T (net of debt). That is $150T in assets versus $17T in liabilities, or a debt/asset ratio of 11%.

Sure. If you liquidate the entire country (can you, by the way? that would be an interesting firesale), then yes, you can cover the debt and have money left over for a big party. But what will you do the morning after? The fact is that it's simpy silly to argue that we're in good condition because we have a really big and pricey diamond in our safety deposit box while we're borrowing money to make ends meet.

Of course this isn't to say that we shouldn't borrow money - or that we can't afford to - especially considering the interest rates that United States debt commanded and still does. But it's not a strategy that is sustainable.

So, from either an income or asset point of view, US debt levels are conservative relative to those of many other countries, which is what the article a_ahmed referenced says (although a_ahmed was trying to make the opposite point).

Of course I agree that we are spending too much, and entitlements in particular need adjustment.  I think that could happen if all the posturing and rigidity on both sides were abandoned.  

Oh come on... we are dealing with partisan hacks who make everything political and do nothing but posture. It can't happen without the posturing and the rigidity; nothing can because Washington is fundamentally broken and staffed by the idiots we keep electing into office.

[Mr.1derful]

The United States is insolvent having announced a GAAP budget deficit, which was $6 trillion last year, with revenues of only $3 trillion.  And the combined debt and entitlements is now $60 - $70 trillion.  Mathematically it's over.

[Gonuclear]

The United States is insolvent having announced a GAAP budget deficit, which was $6 trillion last year, with revenues of only $3 trillion.  And the combined debt and entitlements is now $60 - $70 trillion.  Mathematically it's over.

Insolvency means insufficient income to service debts.  There is no other definition.  So the US is not insolvent.

The unfunded liabilities you refer to are over a 75 year period.  In addition, these are actuarial "worst case" figures that assume that everyone on these programs lives out the maximum projected life span, which will never happen in practice.

Finally, according to the Tax Policy Center

 (http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200)

The deficit is shrinking to the point where it will go down to almost half its current level by 2018.

Still, I agree this is all a problem.  But we are very far from running out of money and being unable to service debts.

[Mr.1derful]

Insolvency means insufficient income to service debts.  There is no other definition.  So the US is not insolvent.

The unfunded liabilities you refer to are over a 75 year period.  In addition, these are actuarial "worst case" figures that assume that everyone on these programs lives out the maximum projected life span, which will never happen in practice.

Finally, according to the Tax Policy Center

 (http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200)

The deficit is shrinking to the point where it will go down to almost half its current level by 2018.

Still, I agree this is all a problem.  But we are very far from running out of money and being unable to service debts.

The deficit is not shrinking, it's an accounting slight of hand.  Do you really expect somebody with $3 trillion of annual revenue to be able to deal with $60 trillion or more of debt?  It’s impossible. Wait until interest rates go up.  If the deficit is falling and the country is not insolvent, then why the continuous need to raise the debt cealing?  Obama claims it's to pay bills, but the reality is that it proves that the country can't pay its bills.

There are not enough jobs and income to support the governments that we have.  The disposable personal income and wages keep going down.  The U.S has 50 million people on food stamps, and 1 in 5 on some form of social assistance.  Pensioners will inevitably take the same "haircut" as the people in Detroit.  

The $85 billion a month in stimulus is no longer making a dent in the economy.  They are stuck.  The FED is the buyer of last resort and no one will want the billions in bonds they are buying each month.  Who will they sell to?  Foreign nations are not going to keep buying U.S debt.  The loss of reserve status is being hastened and will happen.  When it does look out for the inflation to come.  We may not even have to wait for that if the FED completely loses control of the bond market though.  Things are going to get very bad in 2014, not based on doom and gloom, but the true reality of the poor fundamentals of the economy.  People would be wise to brace accordingly.