Recent comments

  • Just about every family making UNDER $36,000/year.

    In other words, just like with every other Bush tax break, this missed the target of helping those who most needed it.

    Reply to: Banks Who Don't Need Bail Out Money are the Ones Getting It   16 years 4 weeks ago
    EPer:
  • Over on CBS Market Watch is a commentary just blasting Congress for now having outrage over the bail out money when they ignored an opportunity to limit the bail out and define the terms.

    I'm pretty encouraged to see more and more real talk on major financial sites.

    Reply to: Banks Who Don't Need Bail Out Money are the Ones Getting It   16 years 4 weeks ago
    EPer:
  • guest worker stunts, but they keep getting more incredible

    I've sounded the alarms to all who follow this (because of course the mainstream media wont report this), and contacted my Senators

    The only possible good that can come from this is, that in the same month as the bailout, that it is so outragious, so criminal, that even the thickest skulls can finally see the guest worker scam for what it is and has always been

    but man, what a cost

    Reply to: DHS Changes Rules for TN NAFTA Visa   16 years 4 weeks ago
    EPer:
  • he was not listening, president bush did support the average working middle class family of america. at the beginning of his first term as president before september 9, 2001 our current president gave the marrage tax brake and also gave tax payers higher returns.

    Reply to: Banks Who Don't Need Bail Out Money are the Ones Getting It   16 years 4 weeks ago
    EPer:
  • This is in essence an increase in the number of guest-worker visas. But only Congress has the authority to increase guest-worker visas. It is illegal for the executive branch to legislate this.

    Once again, the Bush administration disgraces our system of laws, and our Constitution, by taking the law into their own hands. And our elected Congress sits on their hands and lets it happen.

    This and many other instances like this should be brought before a court of law and the Bush administration should be punished for their disdain of the law.

    Reply to: DHS Changes Rules for TN NAFTA Visa   16 years 1 month ago
    EPer:
  • The Bush administration must hate American workers. They are getting laid off by the thousands, skilled Americans with college degrees.

    And how does the Bush administration help them? It spits in their face by importing more foreign workers to take any of the scant existing job opportunities that laid off Americans and college graduates need.

    Reply to: DHS Changes Rules for TN NAFTA Visa   16 years 1 month ago
    EPer:
  • Denial kicks in stronger the worse the consequences are of admitting what's happening.

    Although for all of those trying to plain get a roof over their heads, well, let me put it to you this way, all of the people who clearly were using the housing bubble as their get rich scheme, I have no sympathy for.

    The problem is the separation of those people versus the ones subject to predatory loans, home equity loans just to survive and so on.

    Reply to: Half of homeowners still in denial   16 years 1 month ago
    EPer:
  • Shocked, I say. It's unbelievable that Congress would have screwed up a trillion dollar giveaway to a bunch of thieves on Wall Street.

    Oh, wait. No I'm not. Anyone with half a brain could have predicted that would happen.

    Reply to: Banks Who Don't Need Bail Out Money are the Ones Getting It   16 years 1 month ago
    EPer:
  • ...the 'no one...' you refer to does have a name however. It's the Democrat Party Leader$hip.

    Pelosi...

    Hoyer...

    Emmanuel...

    Feinstein...

    Boxer...

    and all the rest. Just had my usual bs exchange with the salesguys at the lumberyard I patronize...known these Republican Evangelicals for 20 years....

    They wanted to get all over the 'The Dems are the same as the Repugs.....' meme.

    Told 'em. Hey, you guys voted for BushCo. twice...what are yer whinin' about. You got what you asked for. Right?

    Then I had to explain to them that just because someone says they are a 'Democrat' and even campaigns as one....

    Does not make it so.

    Then they wanted to know when they'd be getting their checks from Obama...you know 'redistribute the wealth....' I laughed and told 'em, 'Socialism don't work that way pals.'

    Key to this is that they no longer believe in the Republican Party. They don't like Obama but they really don't want no part of McSame.

    Poor babies.....

    They might have to think for themselves for a change.

    Reply to: Banks Who Don't Need Bail Out Money are the Ones Getting It   16 years 1 month ago
    EPer:
  • Darn it, I forgot the number. 411 is directory assistance.

    419 is advance fee fraud.

    Usually with LOADS of misspellings, named after the code in Nigerian law which forbids it, it's a form of identity theft in which the original author promises to send you some ungodly amount of money directly to your bank account, and you'll get to keep some, if you can just free it up by sending your bank account numbers, a check for some amount of cash, and maybe taking a trip to a foreign nation where you will be kidnapped and held for ransom.

    http://en.wikipedia.org/wiki/Advance-fee_fraud

    Reply to: This is Scary, Possible Currency Crisis   16 years 1 month ago
    EPer:
  • I think that's the real argument, what is the window on all of these major effects.

    Reply to: Treasury Borrowing Needs Now Beyond Belief   16 years 1 month ago
    EPer:
  • Some people are predicting one or the other next year.

    I don't know if it will happen next year, but it will certainly happen within the next couple years. The pressure on the world to change the dollar-based financial system is going to build and build until either the whole system crashes down, or a new system is set up.

    Reply to: Treasury Borrowing Needs Now Beyond Belief   16 years 1 month ago
    EPer:
  • Has anyone actually broken down the holdings of the monetary base (M0)? While M0 does include currency in circulation it also includes money on deposit with the FED. If you look at the FED's balance sheet you'll see actual currency in circulation hasn't changed much (http://www.econbrowser.com/archives/2008/10/the_federal_res.html). One number that has is the reserve balance. The exploding M0 and recent declines in M1 (green line) could be showing a mass flight to safety and or the beginnings of a massing liquidity trap. Too bad M3 wasn't being publish because my bet is that it's hugely negative.

    Reply to: 2009: Recession vs. Recovery (Update 2)   16 years 1 month ago
    EPer:
  • What is a 411 scam?

    Yeah, I mean playing games with currency exchanges and debt sure sounds like "no so stable", but let's find out exactly how this works because yeah, you could gamble that some countries currency will devalue beyond belief in relation to the US dollar and buy a mortgage in that currency, but we don't know the details (at least I do not).

    Reply to: This is Scary, Possible Currency Crisis   16 years 1 month ago
    EPer:
  • The giving of money to foreign nations was caught and spoken by Rep. Brad Sherman. The link goes to a video clip plus he outlined flaws.

    These numbers, $2.6 trillion in taxpayer money, they are so astronomical it's like no one can fathom it and realize they are literally handing US taxpayer funds to foreign nations.

    Precisely how does that not destroy the United States?

    Foreign nations get to dump their worthless assets onto the U.S. central bank and get US taxpayer money while we balloon the deficit.

    How precisely does this stop a financial crisis? Anybody have even a remote answer?

    Reply to: I guess it wasn't contained after all   16 years 1 month ago
    EPer:
  • Makes me wonder if I can predict the next big socialist revolution in some unknown third world country- and just before it happens borrow the money from the central bank that is about to be destroyed to pay off my house.

    Sounds like a 411 scam in reverse.

    Reply to: This is Scary, Possible Currency Crisis   16 years 1 month ago
    EPer:
  • "Imagine that. The world's financial system is so broken that we have returned to a pre-money civilization."

    Now maybe we can start building something else, since that experiment has failed.

    Reply to: I guess it wasn't contained after all   16 years 1 month ago
    EPer:
  • How many other countries allow this? Is the originator in Japan or how exactly does this work and how much of it is going on? Is this because they broke up mortgages into packets and sold them globally or is it a consumer choice?

    Thanks middle, I was not even aware this was happening.

    Reply to: This is Scary, Possible Currency Crisis   16 years 1 month ago
    EPer:
  • meltdown.

    Japan has had interest rates at extremely low rates since the late 1980s, periodically hovering just above 0%, this being a chronic feature of their propensity to save.

    Now the problem is that this creates a great scam. Borrow in yen, buy in a foreign currency, and so long as the curreny doesn't rise you're friggin peachy keen.

    Let's make a hypothetical example.

    So let's say that you're in California, and you want to buy a house that costs $300,000. So you make the purchase in Yen on June 10th, 2007. The yen is at 123.46 yen to the dollar. The yen purchase price is 37,038,000 Interest is something like 0.5% so +1% that's 1.5%. So the monthly payment is 127,830 yen. In dollars this is $1,035.40 on June 10th,2007. Today this same monthly payment would be $1,347.85. A 30% increase.

    In Hungary the same payment has risen by 50%.

    For people buying at the edge of their means, this pushes them under. And repeated on a large scale, it unbalances the terms of trade between the two countries by causing a large scale outflow of cash from the country taking the loans.

    More "free market" insanity.

    Reply to: This is Scary, Possible Currency Crisis   16 years 1 month ago
  • I'm amazed that countries allow foreign borrowers to begin with, let alone foreign lenders.

    Reply to: This is Scary, Possible Currency Crisis   16 years 1 month ago
    EPer:

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