People psychologically are programmed to believe in financial realities that benefit their own cause even if they have no merit in empirical data. Many also forget that banks, especially the investment kind have a notorious track record of running amok when allowed to. The FDIC and US banking is a perfect example of a system built on nothing more than faith. Currently the FDIC insures individual deposit accounts up to $250,000. Given that most average Americans only have $2,000 saved up this is rarely an issue. However, FDIC insured banks have $5.4 trillion through insured deposits yet have a deposit insurance fund (DIF) that is in the negative to the tune of $8 billion. Is this a Ponzi scheme you ask? Not exactly but it shows that the entire financial edifice that we call US banking is built on largely a foundation of sand being held together by pure psychological confidence. Just look at this chart below; as insured deposits grow the insurance fund actually dwindles:
More Here..
Watch the video- when he starts talking about the things silver is used in, he butchers two things right in a row. "Soldering" and "Cadillac converters" Come on, man!
ReplyDelete8:45 Yeah, I heard it too-he`s babbling on so fast his phonetics are not clear. In actuality silver solder is correct, NASA uses it in their satellite wiring connectors-gotta have the best when you are worth half a bil. and floating 500 miles in space. The one that he flubs is not a `Cadillac` converter at all. It is called a CATALYTIC CONVERTER and is (or was) used in vehicles as a further emission control which is installed just ahead of the muffler. Of interest tho, is the fact that when I had my 92 4x4 pickup new it used platinum pellets in it. Of course platinum at that time was @2 or 3 times the price of gold. There`s gotta be some old junkyard owners hoarding these away! lol
ReplyDeleteSavings?
ReplyDeleteWho is feeling rich enough to save in the “richest country in the world” where hard work gets its just reward in the fairness of capitalism?
It’s a good thing there is officially ‘no inflation” in America as the real income of the lower paid workers and lower middle class did not increase very much over the last 30 years,only debts.
As inequality grew and profits soared in the Great Ponzi economy.
See the Graphs on what sections of Americans
comparatively won or lost income shares in the economy over the last 30 years.@
The congressional budget office directors report.
Highly Edcated women ,the new First World Gender aristocracy love the new equality.
Official !Not lefty whinning hype.
http://cboblog.cbo.gov/?p=1837
Changes in the Distribution of Workers’ Hourly Wages Between 1979 and 2009
Quote:
Wages are a key component of the overall economic well-being of individuals and families. Hourly wages and hours worked determine an individual’s earnings, and for most nonelderly adults, earnings constitute the bulk of their family’s income. A CBO study released today, prepared at the request of the chairman and former ranking member of the Senate Finance Committee, documents changes in the amount and distribution of hourly wages received by workers in the United States between 1979 and 2009. It also reviews the leading explanations for changes in the supply of, and demand for, workers with different sets of skills, as well as how labor market institutions affect wages.
The wage rate (the wage per hour of work) received by workers in the middle of the wage distribution (the 50th percentile) increased by about 20 percent over the 1979–2009 period after adjusting for inflation, reaching about $17 per hour in 2009. The dispersion of wages—the gap between wages at the top and bottom of the distribution—also increased over that period,
but the pattern of changes at the top and bottom differed. For men and women alike, the gap between the wage rates received by high-wage (90th percentile) and middle-wage workers expanded throughout the 30-year period; the wage rates of high-wage women grew especially rapidly.
In contrast, the gap between the wage rates received by low-wage (10th percentile) and middle-wage workers widened for both men and women early in the 1980s but has remained stable for the past 20 years.”
Imported ever cheaper priced goods from cheap labor China and the Third World , helped to
disguise their loss of buying power as the value of the dollar was inflated away.
Now , Austerity and government cuts in services are required for the new “underclasses” in order to get that great American ponzi system functioning and the recovery of the property And share bubbles that benefited the Elite and upper middle class and of course those banksters bonuses back on track.
Somebody has to pay for the bailouts and wars.
Its only fair to spread the losses around in the American way.
If one narrowly only counts the $value of an average hourly wage rate paid ,that does not take into account what the underemployed and part time workers are are getting
ReplyDeletein total wages.
The growth in inequality and comparitive
loss of income between the sectors is much greater than shown in the hourly rate graphs .
well so maybe it's why they don't barely regulate banks, if they did and didn't allow enron accounting gimmicks they'd all be forced to close and then fdic would be unable to cover deposits..then again they could just print up some paper to cover depositors...isn't the main irish bank doing similar right now?
ReplyDeleteThis is just more BS to get the lemmings to empty their savings and spend it on crap. Its all miss info or dis info Just like the clown with the noise machine Cramer on CNBC gets them "boomers" with any savings left to stick it in the "maaaakkkeeet"
ReplyDelete5:25,
ReplyDeleteif the "highly educated" women having the higher paying jobs compared to most other women love the new USA then the wealthy males must love it even more, considering males still make a dollar for every 75 cents a female makes.
Yes the redistribution of wealth and equal pay is looking like a bright future for us. I'm sure all the women in the middle class (working class) making 19K to 60K a year enjoy busting their asses all day long, six days a week for a lower standard of living.
Did you know women before the 1960s didn't have to work at all usually? They could if they wanted to, but most didn't need to and that's why they really didn't. The husband could pay all the bills while the woman could sit home cleaning.
The Elites love distorting this however. They make it out like women were forced to sit home and had to obey the male. Not true at all. Those that did only did so because it was a comfortable life.
Quote :
ReplyDelete“I'm sure all the women in the middle class (working class)”
A deliberate confusion in order to create sympathy for poor discriminated against$ 63.000
dollars a year women workers?
You blend together the upper strata of the white often unionized working class with the lower and upper middle class professionals of the 50ties , a view probably derived from watching re-runs of Hollywood T.V. family sitcoms and confuse the actual conditions of the lower paid ordinary working class women with that American fantasy world.
Thinking they were all able to “choose” stay at home and be comfortable perhaps even with a maid or a bit of hired Black help.
That was the middle class .
Perhaps the women of that class had already become a new Gender aristocracy holding their men by the balls ?
The white working class too had their incomes and privileges subsidized by the discrimination against their fellow Black workers.
Blacks and particularly their women however may have dad a different life than that T.V fantasy, owing to wages discrimination after all civilized america “aparteid” only began to make that racial discrimination officially illegal in the 60ties
Women have aways been part of the lower paid industrial working class in the clothing industry etc.
Many received more equal pay and job variety that entered the industrial working class of the government paid for war industries.
In some cases during the long boom of the fifties both partners in the working class family were still able to find work as work was plentiful and owning a family home became possible .
Now is normal for both to hold down a job for those with education that can be lucrative.
With two highly paid jobs in the middle class the total family income is doubled even though the women may still suffer some wages discrimination.
The” lower “working class women are those
$ 19,000 a year workers not to be confused with the $63,000 highly educated and highly paid members of the middle class.
Today there is still plenty of activity in all the area mines.
ReplyDeleteIf you have lower defence you can survive as well, but it won't be as easy. If you choose an activity that the both of you enjoyed together, this will aid remind your ex of how pleasurable it was spending time with you, bring back the good days.
My webpage: mining
If you don't see any bugs or if you can't determine the reason why the plant is looking sick, take a
ReplyDeletesample in to the local county extension office.
In addition, fertilizer restores to the soil
nutrients that are absorbed by years of growing the same vegetable plants in the same location.
Wood can be used as long as it's not treated with chemicals.
Feel free to visit my homepage surcharge
Here you can have tremendous savings, as you can learn the whole process without smashing up an airplane.
ReplyDeleteAll of these issues add to the interest that can be produced about a
site and this works for spots in this place and any place in
the world. This game by Hexacto is simple, straightforward, and fun.
If you are running your simulator for commercial purpose and there
are people playing with their own golf clubs, ask them to wipe their clubs with
a wet clean piece cloth. Just attach a Joystick and pedals,
and you could have a real experience of flying a plane.