Comments on: Upcoming Crisis May Make Crash Of ‘29 Look Like “A Walk In The Park” https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/ Eventually, I learned the joys of killing. But I’m skipping ahead of myself. I landed in Iraq in November 2004 armed with a video camera instead of a weapon... Fri, 28 Dec 2007 19:45:47 +0000 http://wordpress.org/?v=2.1 By: franchie https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85048 franchie Sun, 23 Dec 2007 21:11:18 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85048 seems the problem is real here too ; well, we don't hear much of it in the actualities ; but we can see that thee people spent less money for their leasures or cars... the Euro is surevaluated ; it would be easier if we had still our former currenties, one could devaluate according to the real market ; but it is too late ; if you have still money to invest, it is said that the asiatic currenties are good, Singapore, China... seems the problem is real here too ;

well, we don’t hear much of it in the actualities ; but we can see that thee people spent less money for their leasures or cars…

the Euro is surevaluated ; it would be easier if we had still our former currenties, one could devaluate according to the real market ; but it is too late ;

if you have still money to invest, it is said that the asiatic currenties are good, Singapore, China…

]]> By: el Vaquero https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85062 el Vaquero Sun, 23 Dec 2007 22:21:20 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85062 We are DOOMED, I say, DOOMED. Behind the curtain there are a lot of financial entities that have been engaging in what is fraud and now have some heavy subpar securities that they want to shuttle off on the taxpayers, hence they continue to cry doom and gloom to cover their own mistakes! Let the market take it's lumps and self correct itself. Keep the B-Rats and Government hands out! We are DOOMED, I say, DOOMED. Behind the curtain there are a lot of financial entities that have been engaging in what is fraud and now have some heavy subpar securities that they want to shuttle off on the taxpayers, hence they continue to cry doom and gloom to cover their own mistakes!
Let the market take it’s lumps and self correct itself. Keep the B-Rats and Government hands out!

]]> By: Goodbye Natalie https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85070 Goodbye Natalie Sun, 23 Dec 2007 23:01:00 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85070 Color me naive, and I always admired Milton Friedman when studying economics but if there is one thing I learned obtaining my worthless MBA, it is this may be an even better harbinger of things to come for us in the U.S.: http://apnews.myway.com/article/20071223/D8TNBH780.html I've been warning for some time that consumer debt is out of control and many people are living way beyond their means. Did I mention credit card companies are loan sharks? Color me naive, and I always admired Milton Friedman when studying economics but if there is one thing I learned obtaining my worthless MBA, it is this may be an even better harbinger of things to come for us in the U.S.:

http://apnews.myway.com/article/20071223/D8TNBH780.html

I’ve been warning for some time that consumer debt is out of control and many people are living way beyond their means. Did I mention credit card companies are loan sharks?

]]> By: drillanwr https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85073 drillanwr Sun, 23 Dec 2007 23:10:28 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85073 @Goodbye Natalie I hear ya ... GUILTY, as "charged" (there's that damn word again). :sad: @Goodbye Natalie

I hear ya … GUILTY, as “charged” (there’s that damn word again). :sad:

]]> By: Goodbye Natalie https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85081 Goodbye Natalie Mon, 24 Dec 2007 00:02:28 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85081 @drillanwr, Ah, you wouldn't make the comments here that you do if you weren't bright. Everybody gets themselves in a pickle once in a while - just get yourself out of debt quickly, if possible, if that's where you find yourself. But I disdain credit card companies because I think they prey mostly on the weak, the desperate, and/or the poor. They're great if you use them and then pay your bill every month using their money. And the lotteries are worse. No politician ever talks about the hidden cost of gambling addiction. I'm helping a woman now whose husband about gambled their life away. Sad story... @drillanwr,

Ah, you wouldn’t make the comments here that you do if you weren’t bright. Everybody gets themselves in a pickle once in a while - just get yourself out of debt quickly, if possible, if that’s where you find yourself.

But I disdain credit card companies because I think they prey mostly on the weak, the desperate, and/or the poor. They’re great if you use them and then pay your bill every month using their money. And the lotteries are worse. No politician ever talks about the hidden cost of gambling addiction. I’m helping a woman now whose husband about gambled their life away. Sad story…

]]> By: Brian H https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85088 Brian H Mon, 24 Dec 2007 00:39:11 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85088 The stuff on Brown reinforces my opinion: he may be one of the stupidest wankers ever to weasel his way into a leadership position. He has zero hope of actually winning an election. The stuff on Brown reinforces my opinion: he may be one of the stupidest wankers ever to weasel his way into a leadership position. He has zero hope of actually winning an election.

]]> By: Dan (The Infidel) https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85102 Dan (The Infidel) Mon, 24 Dec 2007 01:27:14 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85102 I've been hearing the doom and gloom message preached for 30 years. The dufous economists have been dead wrong for all of those 30 years. Why should I believe them now? In a free society, where free enterprise rules, economies will prosper and self-correct themselves. This ain't 1929 or the 19th Century. They play this shit about every 8 years. Klinton lied in 1994. His data turned out to be completely bogus. His mininions continue to cry wolf. Fook them. None of these so-called experts know shit IMHO. I’ve been hearing the doom and gloom message preached for 30 years. The dufous economists have been dead wrong for all of those 30 years. Why should I believe them now?

In a free society, where free enterprise rules, economies will prosper and self-correct themselves. This ain’t 1929 or the 19th Century.

They play this shit about every 8 years. Klinton lied in 1994. His data turned out to be completely bogus. His mininions continue to cry wolf. Fook them. None of these so-called experts know shit IMHO.

]]> By: Steve in NC https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85109 Steve in NC Mon, 24 Dec 2007 01:59:51 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85109 This is the kind of sh*t we will see until the election, I bet you will see this echoed by the neo-coms running for president here in the next week. They can't win on national security so it is the economy stupid. Read the article it comes full circle on it's own bullshit: "The International Monetary Fund still predicts blistering global growth of 5 per cent next year. If so, markets should roar back to life in January, as though the crunch were but a nightmare." This is the kind of sh*t we will see until the election, I bet you will see this echoed by the neo-coms running for president here in the next week. They can’t win on national security so it is the economy stupid.

Read the article it comes full circle on it’s own bullshit:

“The International Monetary Fund still predicts blistering global growth of 5 per cent next year. If so, markets should roar back to life in January, as though the crunch were but a nightmare.”

]]> By: Mike Swann https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85161 Mike Swann Mon, 24 Dec 2007 05:07:16 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85161 I saw a presentation by a PHD economist recently, The striking thing to me that he said was " uncertain times return wealth to its rightful owners" I saw a presentation by a PHD economist recently, The striking thing to me that he said was ” uncertain times return wealth to its rightful owners”

]]> By: franchie https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85213 franchie Mon, 24 Dec 2007 10:55:07 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85213 http://www.dailymotion.com/video/x1g8e0_03-ecroulementdesbourses_politics a video, that says it (in french), that says if China is rearming (more than 20 % of her budget), it is to conter and digerate their social problems, riots ... (that we don't hear about in the MSM) and etc... I won't tell more than you know about your national debt (that, by "dominos" settings, will affect us too) and a graph there : http://zfacts.com/p/318.html in spite of this "rejoicing future", have a nice Christmas http://www.dailymotion.com/video/x1g8e0_03-ecroulementdesbourses_politics

a video, that says it (in french),

that says if China is rearming (more than 20 % of her budget), it is to conter and digerate their social problems, riots … (that we don’t hear about in the MSM)

and etc… I won’t tell more than you know about your national debt (that, by “dominos” settings, will affect us too)

and a graph there :

http://zfacts.com/p/318.html

in spite of this “rejoicing future”, have a nice Christmas

]]> By: CoRev https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85226 CoRev Mon, 24 Dec 2007 12:55:59 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85226 We are in an election year. A year when one candidate, closely aligned with a president whose campaign slogan was "it's the economy, stupid." They are using the same formula that got St Bill elected the last time. Much bad press. Many anecdotes and hand wringing to set up the situation where the only solution is change. We are in an election year. A year when one candidate, closely aligned with a president whose campaign slogan was “it’s the economy, stupid.” They are using the same formula that got St Bill elected the last time. Much bad press. Many anecdotes and hand wringing to set up the situation where the only solution is change.

]]> By: GF https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85241 GF Mon, 24 Dec 2007 14:38:56 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85241 Well, I wondered when a canadate would finally talk about the elephant in the room. Gas prices. It would seem Hillary thinks she could cut oil prices if she were elected. She thinks that her agenda of energy independence would force oil producers to lower their costs. Maybe, but I like the idea of finally becoming independent. Fuck this global economy that her own husband helped put us in with NAFTA and the ilk. I say we charge oil countries $50 a bushel for wheat, $100 for corn. When they don't pay they can starve. Fuck 'em. Well, I wondered when a canadate would finally talk about the elephant in the room. Gas prices. It would seem Hillary thinks she could cut oil prices if she were elected. She thinks that her agenda of energy independence would force oil producers to lower their costs. Maybe, but I like the idea of finally becoming independent. Fuck this global economy that her own husband helped put us in with NAFTA and the ilk. I say we charge oil countries $50 a bushel for wheat, $100 for corn. When they don’t pay they can starve. Fuck ‘em.

]]> By: Professor Bill https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85243 Professor Bill Mon, 24 Dec 2007 14:50:20 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85243 I am somewhat mixed in reading this, there has been a lot of positive economic news lately and the MSM just glosses over it and continues to try to talk the economy down. Three good examples, black Friday was 8% higher than last year, which was higher than the year before etc., second example is the spending so far is higher than in 3 1/2, years. I predict that Christmas spending will be considerably higher this year than last. Lastly is the unemployment number, they are still below 5 %. However I do think there are some negative economic forces at work and I place most of the blame on politicians. Our national debt is atrocious and our infrastructure is sagging. Trillions have been spent on social programs that have done nothing positive. I'm 38 and fairly certain I will not see much in the way of social security. Our electrical energy production is far to dependent on fossil fuels and greenies are still dictating policy on nuclear energy. Infrastructure is where government should be spending money. Lastly, I think the federal government and greedy dishonest lenders created this credit problem. Greenspan lowered rates a few to many times and lenders began lending money to people who had no business buying homes or at least the ones they bought. People have been living far beyond their means, depending on cheap or crazy credit schemes. I have seen this all too well here in California. And our state in particular is run by a pandering idiot. I think the banks should take in the shorts and let this thing run its course somewhat. I am somewhat mixed in reading this, there has been a lot of positive economic news lately and the MSM just glosses over it and continues to try to talk the economy down. Three good examples, black Friday was 8% higher than last year, which was higher than the year before etc., second example is the spending so far is higher than in 3 1/2, years. I predict that Christmas spending will be considerably higher this year than last. Lastly is the unemployment number, they are still below 5 %.

However I do think there are some negative economic forces at work and I place most of the blame on politicians. Our national debt is atrocious and our infrastructure is sagging. Trillions have been spent on social programs that have done nothing positive. I’m 38 and fairly certain I will not see much in the way of social security. Our electrical energy production is far to dependent on fossil fuels and greenies are still dictating policy on nuclear energy. Infrastructure is where government should be spending money.

Lastly, I think the federal government and greedy dishonest lenders created this credit problem. Greenspan lowered rates a few to many times and lenders began lending money to people who had no business buying homes or at least the ones they bought. People have been living far beyond their means, depending on cheap or crazy credit schemes. I have seen this all too well here in California. And our state in particular is run by a pandering idiot. I think the banks should take in the shorts and let this thing run its course somewhat.

]]> By: CoRev https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85264 CoRev Mon, 24 Dec 2007 16:14:09 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85264 Prof bill, as to the SS ?problem?, we seem to be approaching a tipping point. Tipping? Reaching a point where there will be little or no impact on future benefits. What did he say? Yup, little or no impact on future benefits, because the economy has been so strong, and looks to continue, that FICA revenues will cover the cost. If they do need to dip into the SS Trust Fund, then all that will happen is a transfer of ownership of existing bonds from a file drawer to individual ownership. You know those folks who need safe investments for their retirements, probably you. There will be NO INCREASE in over all debt, as those bonds are already counted. Why do I say this? Because we have a forty year generational problem (baby boomers), and each year we have seen the date extended in which we need to dip into the SS Trust Fund. Currently, 2017, 1/4 through that 40 year problem. So if we can make it through the next decade extending the date when the SS Trust Fund is needed, we will be on the down side of any demand. another decade after that, and there probably will be NO impact. Stop worrying about SS. GDP growth will trump it. Prof bill, as to the SS ?problem?, we seem to be approaching a tipping point. Tipping? Reaching a point where there will be little or no impact on future benefits.

What did he say?

Yup, little or no impact on future benefits, because the economy has been so strong, and looks to continue, that FICA revenues will cover the cost. If they do need to dip into the SS Trust Fund, then all that will happen is a transfer of ownership of existing bonds from a file drawer to individual ownership. You know those folks who need safe investments for their retirements, probably you. There will be NO INCREASE in over all debt, as those bonds are already counted.

Why do I say this? Because we have a forty year generational problem (baby boomers), and each year we have seen the date extended in which we need to dip into the SS Trust Fund. Currently, 2017, 1/4 through that 40 year problem. So if we can make it through the next decade extending the date when the SS Trust Fund is needed, we will be on the down side of any demand. another decade after that, and there probably will be NO impact.

Stop worrying about SS. GDP growth will trump it.

]]> By: Dan (The Infidel) https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85274 Dan (The Infidel) Mon, 24 Dec 2007 17:00:39 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85274 SS Trust fund? LOL. There is no SS trust fund. There is no SS lockbox. SS money goes into general revenues. Congress has been borrwing that money for entittlement programs and pork-barrel spending for years. The previous generation has already spent the baby-boomers SS money. What's left has been spent by Congress. And we've killed off 40 million potential payers into SS thanks to Roe v Wade. Forget SS. It ain't there no more. SS Trust fund? LOL. There is no SS trust fund. There is no SS lockbox. SS money goes into general revenues. Congress has been borrwing that money for entittlement programs and pork-barrel spending for years. The previous generation has already spent the baby-boomers SS money. What’s left has been spent by Congress.

And we’ve killed off 40 million potential payers into SS thanks to Roe v Wade.

Forget SS. It ain’t there no more.

]]> By: Oops https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85279 Oops Mon, 24 Dec 2007 17:20:58 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85279 The market will take care of the imbalance caused by people being extended credit that were not qualified to have credit--i.e., subprime mortgages. The banks that issued the credit should take the hit. Any talk of a bail out for the banks or the borrowers is ignorant. Most of the borrowers are not sympathetic figures, and in fact, knew exactly what they were doing when they bought a home using subprime teaser rates, which drove the skyrocketing appreciation of the value of the home, then re-financed, drawing out the equity and living beyond their means on the equity, only to find that their adjustable rates were going up and the value of the home declining below what they had drawn out. Sensible risk is rewarded and greedy pigs get slaughtered. The market will take care of the imbalance caused by people being extended credit that were not qualified to have credit–i.e., subprime mortgages. The banks that issued the credit should take the hit. Any talk of a bail out for the banks or the borrowers is ignorant. Most of the borrowers are not sympathetic figures, and in fact, knew exactly what they were doing when they bought a home using subprime teaser rates, which drove the skyrocketing appreciation of the value of the home, then re-financed, drawing out the equity and living beyond their means on the equity, only to find that their adjustable rates were going up and the value of the home declining below what they had drawn out. Sensible risk is rewarded and greedy pigs get slaughtered.

]]> By: Mark Tanberg https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85300 Mark Tanberg Mon, 24 Dec 2007 19:09:19 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85300 YEAH go get um Dan the only thing I can add to this topic is that rumor has it that Osama has proposed to Rosie and she is weighing her options. Have a Jesus filled Christmas. YEAH go get um Dan

the only thing I can add to this topic is that rumor has it that
Osama has proposed to Rosie and she is weighing her options.

Have a Jesus filled Christmas.

]]> By: John Cunningham https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85308 John Cunningham Mon, 24 Dec 2007 19:30:21 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85308 Dan, cause and effect, "40 million potential payers". We also wouldn't have this illegal immigration problem "needed" to take up the slack. Not to mention the financially supplementing their being here. Can't remember his name, he's from India. Supposed to be a financial genius. I think he is a professor at LSU. Wrote, in the early '90s, a book "The Great Depression (I think of) 1999". Well, that came and went with Y2K and he reworked the book and changed the date to (also I think) o/a 2002? I think if they can predict the causes they can prevent it. But, then, I'm not a genius. Dan, cause and effect, “40 million potential payers”. We also wouldn’t have this illegal immigration problem “needed” to take up the slack. Not to mention the financially supplementing their being here.

Can’t remember his name, he’s from India. Supposed to be a financial genius. I think he is a professor at LSU. Wrote, in the early ’90s, a book “The Great Depression (I think of) 1999″. Well, that came and went with Y2K and he reworked the book and changed the date to (also I think) o/a 2002? I think if they can predict the causes they can prevent it. But, then, I’m not a genius.

]]> By: CoRev https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85309 CoRev Mon, 24 Dec 2007 19:38:44 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85309 Dan (The Infidel) you've been listening to too many naysayers. The SS TF is there. It is not a 401K. It is a bunch of papers in a file drawer. You've been paying interest on them. Or at least the interest has been tracked in the Fed Budget. I used to believe the same until I did the needed research to understand how it works. As I tried to point out, there is less and less concern amongst those who follow SS that we will even have to cut future benefits. We may not even use the SS TF non-transferable federal bonds. Lock box? A campaign statement that had no meaning, then and now. All federal trust funds operate the same way. Excess collections are placed in the "General Fund" and non-tranferable bonds written. BTW, the originating SS legislation in 1935 created the process for which it is operating under today. Merry Xmas to y'all. Dan (The Infidel) you’ve been listening to too many naysayers. The SS TF is there. It is not a 401K. It is a bunch of papers in a file drawer. You’ve been paying interest on them. Or at least the interest has been tracked in the Fed Budget.

I used to believe the same until I did the needed research to understand how it works. As I tried to point out, there is less and less concern amongst those who follow SS that we will even have to cut future benefits. We may not even use the SS TF non-transferable federal bonds.

Lock box? A campaign statement that had no meaning, then and now. All federal trust funds operate the same way. Excess collections are placed in the “General Fund” and non-tranferable bonds written. BTW, the originating SS legislation in 1935 created the process for which it is operating under today.

Merry Xmas to y’all.

]]> By: Dan (The Infidel) https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85310 Dan (The Infidel) Mon, 24 Dec 2007 19:41:33 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85310 @CoRev: Don't think so dude. I've been listening to the people running the show. Dream on though... @CoRev:

Don’t think so dude. I’ve been listening to the people running the show. Dream on though…

]]> By: Dan (The Infidel) https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85312 Dan (The Infidel) Mon, 24 Dec 2007 19:48:47 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85312 For those who are interested, here's how SS actually works: http://article.nationalreview.com/?q=NzYxMWIzMWUxMzFmMGE0OWMwYmQ1YWY4ZDU2NTEyMDc=#more For those who are interested, here’s how SS actually works:

http://article.nationalreview.com/?q=NzYxMWIzMWUxMzFmMGE0OWMwYmQ1YWY4ZDU2NTEyMDc=#more

]]> By: franchie https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85328 franchie Mon, 24 Dec 2007 21:09:32 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85328 John, your off as retired, be careful though that your cat 's food will become out of price as it comes from China :lol: and happy Christmas to you yeah, Christmas is boring between the dishes :lol: John, your off as retired, be careful though that your cat ’s food will become out of price as it comes from China :lol:

and happy Christmas to you

yeah, Christmas is boring between the dishes :lol:

]]> By: Goodbye Natalie https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85337 Goodbye Natalie Mon, 24 Dec 2007 21:49:27 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85337 If you're interested in social security, how it works, and where it stands, here's the best article I've read that anyone can understand. I've got a 401K with Vanguard and have found their "letters" quite good. https://retirementplans.vanguard.com/VGApp/pe/PubVgiNews?ArticleName=SocialSecurityFuture If you’re interested in social security, how it works, and where it stands, here’s the best article I’ve read that anyone can understand.

I’ve got a 401K with Vanguard and have found their “letters” quite good.

https://retirementplans.vanguard.com/VGApp/pe/PubVgiNews?ArticleName=SocialSecurityFuture

]]> By: John Cunningham https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85377 John Cunningham Tue, 25 Dec 2007 01:31:51 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85377 Franchie, back when this chinese pet food became an issue I had already been feeding my cat the Purina brand. Everything in their product comes from within the US. I wasn't using it for that purpose but was glad when I found this out after the story broke. Much tighter controls and inspections. Thank God it wasn't an issue for my cat. Merry Christmas and Happy New Year. Franchie, back when this chinese pet food became an issue I had already been feeding my cat the Purina brand. Everything in their product comes from within the US. I wasn’t using it for that purpose but was glad when I found this out after the story broke. Much tighter controls and inspections. Thank God it wasn’t an issue for my cat. Merry Christmas and Happy New Year.

]]> By: CoRev https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85392 CoRev Tue, 25 Dec 2007 02:16:05 +0000 https://pat-dollard.com/2007/12/23/upcoming-crisis-may-make-crash-of-29-look-like-a-walk-in-the-park/#comment-85392 Dan, what in your old article is different than what I already have said? Most of it was discussing the campaign claims from Gore and Bush. Not the operations of the SS. Goodbye Natalie, excellent article. I would take issue with this: <blockquote>It will have to raise taxes; cut expenditures for things such as education, roads, and warships; or issue new bonds and pass the debt on to future generations. Someone is going to pay.</blockquote> What will happen if they are funded with bonds is the current non-tranferable bonds will be converted to Fed Bonds and auctioned to the public. No change in debt, but someone's pension is then made up of safe treasuries. Much of what we hear about Fed debt is hyperbolic. Your article is mildly so. No one has to pay. The current Fed debt was initiated in 1861. Yes, we are still paying on the Civil War! It has never been paid off. It has been much higher (as a percentage of GDP.) It may never be paid off. What is paid is the interest on said debt. If that gets to be too high then we can start paying it off, but it actually has not been onerous. Growth trumps all! Dan, what in your old article is different than what I already have said? Most of it was discussing the campaign claims from Gore and Bush. Not the operations of the SS.

Goodbye Natalie, excellent article. I would take issue with this:

It will have to raise taxes; cut expenditures for things such as education, roads, and warships; or issue new bonds and pass the debt on to future generations. Someone is going to pay.

What will happen if they are funded with bonds is the current non-tranferable bonds will be converted to Fed Bonds and auctioned to the public. No change in debt, but someone’s pension is then made up of safe treasuries.

Much of what we hear about Fed debt is hyperbolic. Your article is mildly so. No one has to pay. The current Fed debt was initiated in 1861. Yes, we are still paying on the Civil War! It has never been paid off. It has been much higher (as a percentage of GDP.) It may never be paid off. What is paid is the interest on said debt. If that gets to be too high then we can start paying it off, but it actually has not been onerous.

Growth trumps all!

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