Posted on 05/03/2010 10:15:52 PM PDT by Neil E. Wright
Think of it this way. You had a lot of bills to pay and you were juggling them every month, alternating those that got paid while incurring heavy late charges and higher interest rates.
So you borrowed enough from the local loan shark to pay off all your bills and now you only have to pay the loan shark - but his interest rate is even higher and penalties are much harsher. But what the heck, the improved cash flow now lets you take out new loans and buy a new car and house, which you do.
Now, your boss has just fired you, and the loan shark won’t settle for just kneecapping you.
Does that clear things up for you?
I hope you don’t mind, but I posted this article along with your easy-to-understand explanation on my Facebook page.
Those are almost hockey stick graphs.
Simple, kill the loan shark.
Vote Conservative. Stay Independant. This is the only choice (except for gunpowder of course) to clean out all the Rats! This is the Tea Party philosophy. In other words, fire the Rinos and throw out the Liberals. There is still a chance to reform the Repubs. The Dems may be a hopeless case by now.
.if you don't realize the sh^t that this country is in, that if we only had won a few more Senate seats intead of having close calls in several states, we wouldn't be in this mess....
if people can't figure out the good guys vs the bad guys, then either they're not really reading and listening or they just aren't really conservatives to begin with...
I see it coming already.....the "conservatives" and the pubs are going to eat each other alive INSTEAD of focusing on a complete shift in the house and senate that would STOP the insanity going on immediately...
we'll dink around and divide the patriots and then some idiots will run third party and some idiots will vote third party and SHAZAAM....the rat gets elected again and again and again..
I absolutely believe that there are many plants on blogs and forums that are paid to disrupt and agitate.....
Sarcasm/off.
I will give bush his due on the war and on quite a bit of his foreign policy, but that rooster-sucking socialist-lite laid the groundwork for the current _resident.
★ FREEDOM! ★
This is the ugly truth that Bernanke doesn't want to speak of, but he knows it to be true. But neither he, nor the government budget folks, are willing to come out and tell the people the truth - since 2003 we have managed to compound a 58% distortion to our $14 trillion GDP!
To say that the adjustment occasioned by withdrawal of that support would be catastrophic would be the understatement of the year. We never got anywhere near this level of distortion in the 1920s and 30s - the distortion reached about 25%, top to bottom. The adjustment produced what we call The Great Depression.”
Look like we are following the Greece model of bankrupting the country. Go back to 2008 when the two parties picked two liars to tell us how more candy(debt) would fix our spending and debt problems magically, and the bigger spender and liar (Obama) won. Now he has hired a national debt commission to tell us the bad news, we really will have to pay for his (as well as Bush's) gross and wasteful spending, something he repeatedly told us wouldnt happen. They promised us it was free (to us.)
I don’t mind at all. I’m honored.
LOL
That’s racist.
;>D
GOOD FOR GOLDMAN, BAD FOR AMERICA (G/S the major toll collector on govt's red-ink railroad)
BY TERRY KEENAN, anchor of Cashin' In, Fox News Sat 11:30 AM.
EXCERPT G/S morphed into a commercial bank to take advantage of gov't handouts, yet Goldman is really a hedge fund on steroids, with trading accounting for 69% of gross revenue in the first quarter........ a big chunk of its trading involves US govt debt -- federal, state and local...... G/S has a huge vested interest in the US digging a deeper and deeper hole.........trading govt IOUs is big business.....one of the few growth markets on Wall Street. IPO's, M&A's, etc, have yet to recover but the US will borrow a record $3.25 trillion in the current fiscal year -- four times as much as in 2008.
With its biggest competitors out of business, G/S is a major toll collector on Washington's red-ink railroad.......a "debt tsunami" that will lift Goldman's fortunes. G/S plays on the bankrupting of America -- the more we borrow, the more they make........ ........but the American public should know this side of the G/S profit miracle. .......Through savvy trading and management, G/S set aside $11.4B this year to compensate its employees on a playing field cleared of its top competitors and soon after Uncle Sam bailedout G/S with $10B TARP -- and millions more through AIG, all paid for by taxpayers. G/S benefits nicely from the govt borrowing binge that was triggered in part by the banking crisis that started in Wall Street's own backyard.
SOURCE http://www.nypost.com/seven/07192009/business/good_for_goldman__bad_for_america_180130.htm
==============================================
REFERENCE Goldman Sachs Will Be Sitting Pretty With Emanuel in the Obama White House
By: Timothy P. Carney, Examiner Columnist, Nov 21, 2008
Goldman Sachs always has clout in Washington, as evidenced by the firms alumni serving as Treasury secretaries under both Presidents Bush and Clinton. Today, in these tumultuous times of bailouts and meltdowns when the investment banking leviathan needs Washington more than ever before, Goldman can leverage its most valuable asset yetincoming White House chief of staff Rahm Emanuel. Goldman Sachs is the giant of Wall Street, and more than any other investment bank, Goldman is surviving the current financial storm.
Traditionally a Democratic booster, and one of Barack Obamas top sources of funds in this past election, Goldman has always had some particularly strong allies within government. Emanuel is one such ally. An interesting early chapter in the Goldman-Emanuel relationship took place in the setting of Bill Clintons campaign for the White House in 1992. Clinton hired Emanuel as his chief fundraiser.
At the same time, however, Emanuel was on the payroll of Goldman Sachs, receiving $3,000 per month from the firm to introduce us to people, in the words of one Goldman partner at the time. This is certainly a noteworthy relationship, but its one that has almost entirely escaped scrutiny. (snip)
In his four terms in Congress, Emanuel has raised $74,750 from Goldman, making the firm his number four source of funds. Goldman has helped Emanuel. How has Emanuel helped Goldman? The most obvious answer, as mentioned in this column two weeks ago, is in Emanuels lead role in shepherding the $700 billion bailoutfirst proposed by former a Goldman CEO, Bush Treasury Secretary Henry Paulsonthrough the skeptical House.
Of course, back in the Clinton days, Goldman benefited from NAFTA and the bailout of the Mexican currency, with Emanuel pushing NAFTA through Congress, and Rubin hammering out the peso bailout. Did Goldman improperly funnel money to the Clinton campaign by subsidizing Emanuels salary in 1992? Did Goldmans help to Clinton spur the Democratic president to push NAFTA and the Mexican bailout?
The answers to these questions are opaque, and with Emanuel burrowed deep within the Obama White House, the continued relationship between Goldman Sachs and Obamas right hand man wont be easy to follow.
Watch which regulations of Wall Street Obama fights for. Watch where the bailout money goes. And dont be surprised Goldman soon sitting pretty once again.
http://www.washingtonexaminer.com/opinion/columns/TimothyCarney/ Goldman_Sach_Will_Be_Sitting_Pretty_With_Emanuel_in_the_Obama_White_House_112108.html
at some point it will return and feed...
Piker.
There's a lot of unseized wage money out there. THINK BIG!
” Look like we are following the Greece model of bankrupting the country. Go back to 2008 when the two parties picked two liars to tell us how more candy(debt) would fix our spending and debt problems magically, and the bigger spender and liar (Obama) won. Now he has hired a national debt commission to tell us the bad news, we really will have to pay for his (as well as Bush’s) gross and wasteful spending, something he repeatedly told us wouldnt happen. They promised us it was free (to us.) “
Bailing out Greece won’t help them. Their insane retirement pay will wipe them out again.
perfect analogy...
RE :”Bailing out Greece wont help them. Their insane retirement pay will wipe them out again.”
The EU has no money anyway, they have to borrow it. Glenn Beck did a great show yesterday on unions protesting violently for theit govrernment handouts in Greece and the USA
LOL
The Loan Shark already controls all the private retirement funds.
;>D
This is not exactly what happened late 2008-2009. Interest rates were low with controlled inflation because the world economy went sour and there was a flee to the dollar. And we (federal government) borrowed as much as we could similar to that temporary teaser 0% APR (that congress tried to ban for credit cards) that was guaranteed to skyrocket given any increase in demand and economy improvement. So Obama borrowed (given Bush's lead) more than the country could ever paid back, and promised us it was free.
China can never force us to pay them back, but they can cut back out credit line which is all we have left to keep us a float.
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