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Old 07-09-2011, 11:53 AM
 
Location: Long Island
32,816 posts, read 19,431,094 times
Reputation: 9618

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Quote:
Originally Posted by freemkt View Post
I'm on track to get $900 a month from Social Security. Take that away and I'm in deep doo doo. Poor grandpa, that will be me in a few years.b

What's that you say, I should have saved for retirement? How much do you realistically expect people to save on a $15K income?
so let's see if I get this straight

you settle for a 15k a year job

save NOTHING

and then plan on getting a 2/3 pension when you retire (900/month is over 10k a year )


btw your contributions to ss 6%...6% of 15k is 900 A YEAR

so you think it good that you contribut 900 a year (and your employeer matches it) for you to get 900/month????? how liberal of you
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Old 07-09-2011, 04:46 PM
 
2,514 posts, read 1,983,873 times
Reputation: 362
Quote:
Originally Posted by floridasandy View Post
so you admit that the federal reserve actions have failed?
First off the Federal Reserve Bank is a privet organization with its own selfish priorities, I believe that they are succeeding at what they intend to do. I also believe that what they are intending to do is not in the best interest of the vast majority of the citizens of the US of A.
Quote:
Originally Posted by floridasandy View Post
there is no such thing as responsible printing of currency.
We have a printed currency. If there is no such thing as the responsible printing of money then we would have no currency. Barter sucks for international trade. The amount of currency in circulation is the problem. Too little and we have high unemployment. Too much and we have high inflation. As of Nov of 2010 we were paying out for over 17% unemployment (they were claiming an unemployment rate of 9.8% for that month).
Quote:
Originally Posted by floridasandy View Post
it devalues your money intentionally, and it disrespects your currency. we have a fiat currency, based on TRUST.
You said it. What has happened over the last decade is that the world’s monetary base was expanded from $3 trillion to $ 10 trillion with the printed money being used to buy debt in the US. This money is what fueled the housing boom. We now have the housing economic high hangover. Japan has been over two decades into their housing boom economic high hangover and they aren’t done with it yet. We are the world’s reserve currency; the violation of the trust was an act of economic warfare by foreign powers that have been our enemies. They printed money expecting to get value for nothing. We should repay the printed money with printed money in return.
Quote:
Originally Posted by floridasandy View Post
all the countries that have tried it have declined. look at japan for another example.
Take a good hard look at Japan for yourself. The prices of houses have been falling for 21 years and counting. They have been trying to print enough money to cause inflation for most of that time. The problem is that they have too much debt and not enough income and so the money that they are/were printing was/is flowing into other countries and causing inflation there. They need wage/price inflation. They have been having deflation. Falling prices but the amount of the loan is fixed so the value of the loan goes up and the cost of repaying it goes up and so no one want to take on more debt and the economy contracts even more and you get more deflation. Deflation sucks from an economic point of view.

What the Japanese needed to do was to inflate wages to where they could support the inflated prices of the houses. I have written about upping the US minimum wage to $30/hr. At this level a full time minimum wage worker would be able to buy a $180k house. This would get the prices of houses going up now not in over twenty years from now.

You are talking about the problems with inflation, deflation is worse from an economic point of view. Deflation brings high unemployment. Inflation, true inflation not stagflation, brings with it full employment.

Quote:
Originally Posted by handog View Post
The nerve of some people expecting SS after paying into it their whole lives.
Man, the contract with America was violated by the powers that be.
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Old 07-09-2011, 05:20 PM
 
Location: Foot of the Rockies
90,316 posts, read 120,475,124 times
Reputation: 35920
Quote:
Originally Posted by malamute View Post
I know a liberal who brags who he is still working at a high income job and is also receiving social security benefits and also gets extra because he chose to start a second family and have children in his 60s.
Quote:
Originally Posted by HappyTexan View Post
Yes..those kids now qualify for SS checks each and every month.
As I said, they "reformed" SS to include more yet never gave a thought as how to fund it.

SS does not just include widows and orphans anymore. Some folks need to get up on current events with the changes made to SS over the years.
I see neither one of you responded to my post that this is nothing new. My aunt was no liberal, either.
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Old 07-09-2011, 05:47 PM
C.C
 
2,235 posts, read 2,360,076 times
Reputation: 461
Quote:
Originally Posted by HappyTexan View Post
There's no other way jaggy..the stimulus money is all gone. It was propping up budgets and was only a temp measure. I think all were hoping that we'd have really recovered by now and those jobs would have continued and the revenue would have been there to cover the salaries.

But that didn't happen and I don't see any "Plan B" coming from the Fed, Treasury, Congress or the WH.
I think we've already tried plans A through Z - it's time to give Plan 9 from Outer Space a shot.
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Old 07-09-2011, 08:51 PM
 
8,483 posts, read 6,917,744 times
Reputation: 1119
Yes Plan 9 - Maybe Blue Beam!

Well they already made unemployment looks so much better in 90's by changing calculations and erasing people. So hard to use that to fix those pesky employment problems.

I have seen the debate over corporate owning govt or govt owning corp. They all hang out together and pal around and have money and power you don't.

Either way "We are borg! Resistance is futile"

I posted this in another thread, but it doesn't look so good. Recovery/Employment Graph
BizzyBlog
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Old 07-10-2011, 05:06 AM
 
764 posts, read 596,396 times
Reputation: 660
So when do these job creating tax cuts...create jobs? They've been in place for a decade and the unemployment rate has only gone up...
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Old 07-10-2011, 05:23 AM
 
26,970 posts, read 15,187,034 times
Reputation: 11960
Think of all of the shovels we are able to maintain in pristine condition.
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Old 07-10-2011, 08:00 AM
 
29,939 posts, read 39,401,256 times
Reputation: 4798
Quote:
Originally Posted by Lithium View Post
So when do these job creating tax cuts...create jobs? They've been in place for a decade and the unemployment rate has only gone up...
You missed about 20 years on that one there fellow.
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Old 07-10-2011, 08:03 AM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
Quote:
Originally Posted by Lithium View Post
So when do these job creating tax cuts...create jobs? They've been in place for a decade and the unemployment rate has only gone up...
The Bush cuts were not about job creation. The Bush cuts were for consumers to have more money in their pockets to buy stuff.

Now the Obama cuts were sold to us as job creation but if you bought that load of crock then too bad for you.

If people had no money to spend 12/31/2010 then why would they all of a sudden get money on 1/1/2011 when no extra money was given out ?
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Old 07-10-2011, 08:06 AM
 
Location: Sierra Vista, AZ
17,531 posts, read 24,648,910 times
Reputation: 9980
Quote:
Originally Posted by HappyTexan View Post
The Bush cuts were not about job creation. The Bush cuts were for consumers to have more money in their pockets to buy stuff.

Now the Obama cuts were sold to us as job creation but if you bought that load of crock then too bad for you.

If people had no money to spend 12/31/2010 then why would they all of a sudden get money on 1/1/2011 when no extra money was given out ?
That's not what the Republikaaners told us. Where are the jobs?
At this point we need to have the government hiring people to work on infrastructure rather than pay them to stay home
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