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| Economy |
| Sick of the Budget Deficit? Then Read This! |
| 2010-08-11 |
| Hit the link for the article. |
| Posted by:Cleath Fleresing8080 |
| #10 jrodger - minimum wage is higher than that. Trolling? Or something to offer? |
| Posted by: Frank G on the road 2010-08-11 22:50 |
| #9 As of last week that there are nearly 200,000 farm worker jobs available nationwide. I wonder how come people aren't lining up to grab those? Shouldn't any real Republican take one of those rather than lower themself to getting government unemployment insurance. Better to do back breaking harvesting in the hot sun for $4/hr than succumb to government handouts is what I hear. |
| Posted by: jrodger 2010-08-11 22:41 |
| #8 #4 also Opera. Link isn't working. |
| Posted by: Dale 2010-08-11 21:52 |
| #7 Bigjim Hello, For what its worth yesterday I was told John Deere is having a hard time finding welders. It may have been OHIO. During the past depression many traveled to OHIO for work. Richmond Virginia is a stronger area than most right now. DC is strong with all the government work but they got the benefits. |
| Posted by: Dale 2010-08-11 21:41 |
| #6 ...offenses, shall be deemed guilty of felony, and shall suffer death. Felony doesn't mean what it used to mean. Maybe we need to review that. |
| Posted by: gorb 2010-08-11 17:17 |
| #5 The answer is simple, stick with the Constitution. But to be fair, Ben should be given the choice of being hung or shot. Section 19. Penalty on debasing the coins ...offenses, shall be deemed guilty of felony, and shall suffer death. |
| Posted by: tipper 2010-08-11 11:59 |
| #4 Link is not accessible using either Firefox or Google Chrome browsers. |
| Posted by: Anguper Hupomosing9418 2010-08-11 09:34 |
| #3 Hyperinflation is bad, and deflation is bad. The zinger is that they are not mutually exclusive. Even the last great sanctuary, municipal bonds, has been polluted by Variable Rate Demand Obligations (VRDOs) sometimes called Variable Rate Demand Notes (VRDNs), which are already a significant portion of the $1.9 trillion in municipal securities held by households and entities such as property-casualty companies. A VRDN holder “has the right to sell the security to the issuer at a predetermined price (generally par) on specified dates (generally daily or weekly)”. In other words, the bond may technically mature in 20 years, but the interest rate resets weekly and the buyer can put it back to the issuer at any time. "Regulations generally limit money market funds to high-rated securities, so one might think VRDNs are safe. But the ratings agencies are subject to the same pressures from originators as in the subprime glory days: if the rating isn’t high enough to do the deal, the ratings agency doesn’t get paid. "The agencies typically don’t re-rate securities for financial strength after origination unless they receive information on a change in condition. The result, as in the infamous Enron case, is that downgrades usually follow rather than lead the market’s valuation, and troubled securities can retain high ratings until just before default. "In rating individual securities at origination, the agencies gave little weight to liquidity risk: whether the VRDN market has the capacity to handle a wave of redemptions. "Of the two major pre-bust municipal bond insurers, AMBAC is gradually liquidating under state supervision after functional insolvency, while MBIA is still in financial difficulty and is writing only limited new municipal bond insurance. Berkshire Hathaway Assurance Corp., a new entrant, was rapidly downgraded by the ratings agencies. "VRDNs are often backstopped by bank letters of credit—often required in case the bond insurers are downgraded, and requiring municipal securities issuers to pay a high interest rate if drawn on—but this merely transfers the risk of nonpayment from municipal bondholders to the banking system." On a personal note, I found out that USAA was carrying VRDNs on some percentage of its long term bonds, so I asked them what percentage?, a figure that should have been easy to obtain. No response. It is usually not a good thing when a broker does not return your calls. |
| Posted by: Anonymoose 2010-08-11 07:49 |
| #2 I spent my whole adult life hoarding ammo and waiting for the wheels to come off. If y'all need me, I'm laid off, layin on the beach in Alameda awaiting instructions. Yup, Civil Engineer, Commercial diver, pile driver, welder , deckhand, riverman, cappenter of 15 years, unemployed. Gumption busted-I'm out. See you in the soup line. |
| Posted by: bigjim-CA 2010-08-11 03:14 |
| #1 The current Consumer Price Index or CPI is a LIE. Take a look at food prices here at home and worldwide. Hyperinflation is just around the corner. The wheels are getting ready to come off. |
| Posted by: Besoeker 2010-08-11 00:58 |