Hiding Bear Posted December 23, 2004 Report Share Posted December 23, 2004 While Mark is away for Christmas break, Ag's left a little present in B4 The bell yesterday: Thought this was an Interesting take on Social Security...taken from Mark Cubans blog the owner fo the Dallas Mavericks and billionaire who basically billked the mania and won...I've heard him admit on Crapvision when he was a guest he thought the stock market was a scam and went postal on someone in an interview once..... One time "Haines Underwear" asked him what he liked in and he said "nothing"..." The fat guy in the little coat goes..."come on, you have to like one stock"..."No...I'm 100 % in T Bills and the markets a joke"... It's obvious he doesn't need anything but fixed income to keep his fortune but at least he called a spade a spade and knows he was made by the mania... Though many see him as someone who ripped off the system and people they spammed to, plus his show blows...It was Yehaw that was dumb enough to pay him billions in funny money for his company...so he took the money and ran..I don't even think his start up even exist's anymore and probably ended up buried somewhere in one of those eternal one time charges all crap bubble stocks so dearly rely on to "beat by a penny"... Anyway..at times I look at him as somoene who ripped off tons of people and think he's just as much a shill as anyone out there... but on the other hand I find his fearlessness in expressing his opinons that often go against the grain refreshing in this age of tail pipe chasers and bobble heads.... So back to Social Security....This was as clear and concise an argument that I have found that privitization is a scam... In my own view...it is being done to keep the mania going...I see no other reason to even float this boat now....thats it's "sole" purpose imo...it has nothing to do with "the sheeple making more money"...it's strictly a palm greaser and an addmission of failure if the 2 % carrot "really" is desperately needed...an even bigger issue is health care...what happens to that ? When do benefits start ? particulalry if they push the benefit limits out further to a point in time when eventually you collect your first check... you die cause you had to work as a Wall Fart Greeter until you hit 70 to keep your health insurance...Oh I forgot, I don't think Wall Fart has medical... Below is a snippet from Cubans open from his blog followed by some bullet points by a writer named Michael Kinsley concerning why it won't work in his view... The Presidents plan in simplistic terms, is to allow all of us taxpayers to take a small portion of our social security contributions and invest that money as we see fit. The premise is that by investing in things that the Social Security Fund cant , each of us can earn greater returns and better protect our financial future. Wrong. Of course, with the search for greater returns, comes greater risk. Now I always thought that the Social Security program itself was designed to protect us from ourselves. That those of us who might be able to save, didnt save enough to protect us at retirement, and those of us who were never in a position to save, had a fallback that we as a nation all contributed to. Along comes the Presidents proposal which kind of flips the logic. Now the admission is no longer that we as individuals can no longer save money, its that we as a country can no longer save money. Our politicians who might have been able to save money in better times, didnt. As a result, as a country it appears that we will be unable to meet our future obligations for Social Security. Rather than shaving off all the pork we feed our politicians, and beyond in order to create funding to meet our obligation, the President has decided to relinquish part of the obligation back to us, in hopes that each of us make more than the government could, and pay for more of our own, and our childrens future. To put it another way, keep some of your social security contributions and play the financial markets lottery http://www.blogmaverick.com/entry/1234000127024034/ There could not be a clearer reason in my mind for this proposal to even be on the table...."the mania needs to keep growing"...as for me...I thought, if I will not receive any payments that I have made over the years and they go ahead with this...I want my money back that I paid into the system which would be a decent lump sum as I am self employed... Now if they did that and said you are on your own, maybe I'd reconsider but in essence thats gone to money heaven if this flies...2 % into some Fido funds isn't gonna get me a seat on the starship money talk so I can reach "critical mass".... I saw shrub was in a meeting and you know who one of the "expert consultants was to advise him ?"....Liz ann Slanderous from Chuckie Cheese's firm....those are the minds that will push this over the top...now if that ain't a slap in the face... Sadly as some have mentioned on this forum...this will probably be signed into law at 3 am in some board room full of plutocrats farting into their leather chairs..."without debate" or discussion as there is only one party....there will be no voice in this matter of the people or for the people as there is a lot of political capital to be spent...and first on the list is screwing the poor who make 35k a year and get to toss a lump sum of 700 bucks into some index fund... Let it be... Ag And to follow up...check out some of the responses... some good but boy there were some dumb ass comments...no wonder the word "sheep" is used when discussing the masses.... Who know's for sure if this is bankrupt or not or will ever go bankrupt ? It's a revolving door...present taxes pay for current benefits... The thing that gets me even more is what happesn to those in their 40's that have been paying in for years and won't see a dime in return ? What are the restrictions on withdrawal of this 2 % ? When can you take it out ? Can it be rolled over ? Does the government "own" it for "your" benefit to be used at a future date determined by them ? Can you take premature distributions ? Ag Tanks Ag's Nightmare! Meanwhile the OFHEO decided that maybe they won't let FNM default just yet - The regulator decided the dividend payment would benefit the company and its shareholders, Fannie said in a statement. "OFHEO in its letter stated that the December 31 dividend payment would enhance Fannie Mae's ability to restore capital to minimum required levels, enhance the long-term safety and soundness of Fannie Mae, and is in the public interest," said Fannie spokesman Charles Greener. The regulatory agency will make decisions about future dividend issues after assessing "the impact on safety and soundness, the impact on achievement and maintenance of appropriate capital levels, and the public interest," according to Greener's statement. http://cbs.marketwatch.com/news/story.asp?...st=google&dist= Well we have FNM now without financial statements, under governmental control, and the 700 story derivative pyramid is shaken - but Wall Street borkers still aren't worried - yet. Season greetings and for those who will be away - Happy New Year! Link to comment Share on other sites More sharing options...
GTNWORSE Posted December 23, 2004 Report Share Posted December 23, 2004 Been trying my hand at a little daytrading. Does wonders for getting rid of those pesky capital gains I've managed to put together this year. Today was the last such adventure. I wanted to express my heart felt wish's to all of you for a happy holiday! Be well. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2004 Report Share Posted December 23, 2004 So today it was announced that New Home Sales plunged 12%, and average sale prices DROPPED....at a time when mortgage rates sit at historic lows. Is this the first sign of the deflationary Japanese experience coming to our shores, where despite unlimited free money, consumers are simply unwilling to assume more debt in an environment where their piggy bank (their home) is tapped out and the ATM aspect of it is closed? That's what the retail sales and automotive sales numbers appeared to be telling us, and todays number seems to identify the root cause. Note that an area of weakness in the housing market included the midwest. It's no secret that the states of Michigan, Indiana and Ohio are losing jobs. If you were looking for confirmation that the University of Michigan Consumer sentiment Numbers have been hijacked by the Fed, and in no way represent reality, we got the proof today, as that survey pegged consumer confidence near historic high levels. Uh huh...right. Retail, Auto Sales, and New Home sales all down. That's the American Consumer retrenching...That's the reality. I think this is a sign that american's have figured out, based on the Iraq experience, not to believe everything their government tells them. The crisis of credibility approaches. The worm has turned...but the fear has yet to register. Link to comment Share on other sites More sharing options...
Slothrop Posted December 23, 2004 Report Share Posted December 23, 2004 RGLD. If the precious metals spark back to life, this royalty trust is shaping up to run. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2004 Report Share Posted December 23, 2004 Was anyone long this momo screamer at the open this morning? I sure hope not...what a dangerous game: http://139.142.147.221/StockChart_ImageOnl...NX&ref_rate=180 Link to comment Share on other sites More sharing options...
dozer Posted December 23, 2004 Report Share Posted December 23, 2004 Been trying my hand at a little daytrading. Does wonders for getting rid of those pesky capital gains I've managed to put together this year. Today was the last such adventure.I wanted to express my heart felt wish's to all of you for a happy holiday! Be well. <{POST_SNAPBACK}> You too, Gettin' !! Link to comment Share on other sites More sharing options...
fxfox Posted December 23, 2004 Report Share Posted December 23, 2004 Just saw a very interesting documentary about america in the 50s (also the title of this 8 part series, this was part 3). The 50s dont get clorified in that documentary, it is mkore a social science approach, trying to tell how things really were back then, not how we nowadays want to see the 50s. Very intersting was that by the end of the 50s every FIFTH american had a credit card from Sears! That was new too me. I also asked myself why always Greenheimer gets blamed, some stoolies make the impression that Greenheimer introduced credit cards to the american people, but as we can see FIFTY years ago there was this "borrow and spend" mania. To live beyond the measn became a motto at least sicne the mid 50s, thsi isnt soemthing new and it definitely soemthing we can blame the Gr?nheimer for. Americans want to borrow and spend and Greenman gives the money. He satisfies the needs of the people, not the other way around. What also impressed me was the part in the documentary about "The man in the grey flanll suit", very impressing. There is also a film with the same title, Gregory Peck plays the main character. btw, is it really true that in america if you have a new neighbour or so that you ask "how much have you made so far?". If yes, then this tells ALOT about the nature of americans and the "borrow and spend" mentally would be very easily explainable. I only can tell you that in europe you should never speak about money with people you dont know very well. Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2004 Report Share Posted December 23, 2004 Just saw a very interesting documentary about america in the 50s (also the title of this 8 part series, this was part 3). The 50s dont get clorified in that documentary, it is mkore a social science approach, trying to tell how things really were back then, not how we nowadays want to see the 50s. Very intersting was that by the end of the 50s every FIFTH american had a credit card from Sears! That was new too me. I also asked myself why always Greenheimer gets blamed, some stoolies make the impression that Greenheimer introduced credit cards to the american people, but as we can see FIFTY years ago there was this "borrow and spend" mania. To live beyond the measn became a motto at least sicne the mid 50s, thsi isnt soemthing new and it definitely soemthing we can blame the Gr?nheimer for. Americans want to borrow and spend and Greenman gives the money. He satisfies the needs of the people, not the other way around. What also impressed me was the part in the documentary about "The man in the grey flanll suit", very impressing. There is also a film with the same title, Gregory Peck plays the main character. btw, is it really true that in america if you have a new neighbour or so that you ask "how much have you made so far?". If yes, then this tells ALOT about the nature of americans and the "borrow and spend" mentally would be very easily explainable. I only can tell you that in europe you should never speak about money with people you dont know very well. <{POST_SNAPBACK}> Hypertiger used to make this same point, that the current debt inflationary bubble got underway in the 1950s. In his opinion, it was out of control by 1958 or 1959, and that was the Fed's/State's/Plutocrats' opportunity to pop the bubble with relatively minor pain. This is the point, he believes, that the PTB chose "inflate forever or die" to the point of implosion, and the problem became irreversible. Link to comment Share on other sites More sharing options...
wndysrf Posted December 23, 2004 Report Share Posted December 23, 2004 The "Potato Head" top.............. Link to comment Share on other sites More sharing options...
wndysrf Posted December 23, 2004 Report Share Posted December 23, 2004 Another High Volume Breakout for a cog in the War Machine.......... Link to comment Share on other sites More sharing options...
wndysrf Posted December 23, 2004 Report Share Posted December 23, 2004 I laughed and shucked at the "Zero" when it was first floated a few years ago. Dissed it as an "inferior currency" printed by socialist countries........ How dare the "Old World" attempt to challenge "King Dollar"..... My how things have changed. New weekly closing high on the March contract. Hats off to the EuroZone............. Link to comment Share on other sites More sharing options...
K Wave Rider Posted December 23, 2004 Report Share Posted December 23, 2004 Here's a recipe for Holiday cookies I thought you guys might like.. COOKIE RECIPE 1 cup of water 1 tsp. baking soda 1 cup of sugar 1 tsp. salt cup of brown sugar lemon juice 4 large eggs 1 cup nuts 2 cups of dried fruit 1 bottle Jose Cuervo Tequila Sample the Cuervo to check quality. Take a large bowl, check the Cuervo again, to be sure it is of the highest quality, pour one level cup and drink. Turn on the electric mixer...Beat one cup of butter in a large fluffy bowl. Add one teaspoon of sugar...Beat again. At this point it's best to make sure the Cuervo is still OK, try another cup ... just in case. Turn off the mixerer thingy. Break 2 leggs and add to the bowl and chuck in the cup of dried fruit, Pick the frigging fruit off floor... Mix on the turner. If the fried d! ruit gets stuck in the beaterers just pry it loose with a drewscriver. Sample the Cuervo to check for tonsisticity. Next, sift two cups of salt, or something. Who giveshz a sheet. Check the Jose Cuervo. Now shift the lemon juice and strain your nuts. Add one table. Add a spoon of sugar, or somefink. Whatever you can find. Greash the oven. Turn the cake tin 360 degrees and try not to fall over. Don't forget to beat off the turner. Finally, throw the bowl through the window, finish the Cose Juervo and make sure to put the stove in the dishwasher. CHERRY MISTMAS Link to comment Share on other sites More sharing options...
Guest Posted December 23, 2004 Report Share Posted December 23, 2004 K-Wave: From a fellow Stoolie, currently drinking beer at work: Cherry Mistmas to you to! And I love your Rookie Cecipe! Link to comment Share on other sites More sharing options...
dozer Posted December 23, 2004 Report Share Posted December 23, 2004 kwave... :P best to you K-wave....appreciate your info and insights greatly. Link to comment Share on other sites More sharing options...
EddieBear Posted December 23, 2004 Report Share Posted December 23, 2004 btw, is it really true that in america if you have a new neighbour or so that you ask "how much have you made so far?". If yes, then this tells ALOT about the nature of americans and the "borrow and spend" mentally would be very easily explainable. <{POST_SNAPBACK}> I have moved house a number of times in my life and none of my new neighbors have ever asked me that question. Link to comment Share on other sites More sharing options...
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