OT: Oil Spill. There are two men...


Proteus IIV wrote:

[snip]
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You can't fix PROTEUS. The vet's already done it.
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wrote:

by
ever
just
forced
Yes. That's great for financially saavy people who can ride through the troughs without having to touch their investments. The people SS was meant to protect clearly AREN'T the financially well-schooled and who would become a burden on society without some form of enforced saving for the future.

Except that with stocks, the risk is high. Ask BP, Worldcom, Enron and other stock holders whether they would rather have a lower rate of return or any money left at all. I was astounded to learn that many of AIG's risk assessors deliberately excluded the Great Depression from their risk calculations. That's like going to Monte Carlo or Vegas and pretending that 0 and 00 aren't on the roulette wheel.
The stock market whizzes like to point to old statistics to attract the money for what's lately become a huge Ponzi scheme unrelated to the purpose of financing new businesses. It started when all sorts of hedge funds and alleged guarantees against risk appeared. Naked shorting comes to mind as the beginning of the end. The financial markets of the world are not as infallable as Wall Streeters would like to believe. When people can profit from bad things happening to others, the seeds of doom have been sown. Worse, still, is that the world markets are incredibly interlinked. Trouble in any one spot, like Greece, reverberates through the economy out of proportion to its actual weight.
What I believe will happen is that the folks who have socked away loads of tax deferred investments might find they were better off paying the taxes when they got the money. When the US runs out of magic tricks to pay its debts, it won't have much choice but to grab up all the money it can by raising the tax rates - just as boomers start drawing on those funds to stay alive. Something like BP's big spill can be the lead domino in a very seriously bad chain of events for the stock market. There's a big disconnect between what government is doing FOR the elites and doing AGAINST middle class.
-- Bobby G.
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S.

So enforce the savings yet give them options. BTW: if you have it for the long term (like 50 years from 15 to 65), riding through the troughs is not an issue. You keep taking the money out as needed and over the years of retirement you pull some principal out during the troughs, but you also take out less than you earn during the peaks.

Risks are not high unless you go out of your way to make them by not diversifying, etc. Also, all of the suggestions was that if you wanted to just stay in the "regular SS" you could. Interestingly enough, most state run pension plans allow you to manage your own portfolios to a certain extent.

Which should REALLY Scare the heck out of you since most of SS "asssets" are government bonds. Every penny of the SS surplus over the last nearly 30 years went to non-marketable treasury securities that will have to be paid back (with interest) sometime soon. We could soon make Greece look like a slightly overdrawn teenager compared to what we have in store, especially that hidden by SS surplus which did a real good job, for several administrations, of covering up the real debt.

Of course, assuming those funds are even available.
--
I want to find a voracious, small-minded predator
and name it after the IRS.
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wrote:

meant
become
would
return or

risk
that
I was diversified out the ying-yang and it didn't matter much when the market tanked. Every stock lost considerable value. I was just lucky not to own a former blue chip that turned into a cow chip.

purpose
and
as
profit
Trouble
Add all the pension and health care promises made to state and local workers that have no real dollars behind them and it's hard to see how any alleged "recovery" will be more than a flash in the pan.

of
taxes
its
stay
AGAINST
Optimist! (-:
-- Bobby G.
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43 and 41 Are Tweedledee And Tweedledumb.
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wrote:

43 and 41 Are Tweedledee And Tweedledumb.
========= And they named the smart one Jeb. I believe it was George Carlin who reminded us of this sad fact.
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JoeSpareBedroom wrote:

George was KIDDING when he said Jeb was the smart one.
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wrote:

But actually, Jeb *is* the smarter of the brothers.
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Isn't that pretty much the text illustration of damning with faint praise (g).
--
I want to find a voracious, small-minded predator
and name it after the IRS.
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wrote:

Yes. But at one time, he actually looked like a genius. Then he changed his mind. I suspect that a close look at his personal finances would reveal the reason. I wonder when we'll task the NSA to monitor our elected barnacles the same way they spy on overseas bad guys.
http://politicalinsider.blogs.heraldtribune.com/10453/jeb-bush-changes-view-on-oil-drilling-in-gulf /
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hibb wrote:

The June 21 issue of Time has a brief piece about a criminal trial in India that brought in verdicts on June 7. In 1984, 26 freaking years ago, Union Carbide had a toxic gas release that killed fifteen freaking thousand people in Bhopal. In 1985, the Indian gov't. sued for $3.3b. In 1898 they settled for $470m. The seven UC employees found guilty were sentenced to 2 years in jail. And the freaking American public takes issue when a European uses the term "small people" rather than American slang. What piggies. American's care more about Michael Jackson's plastic surgery than they do answers to energy supplies :o)
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-snip-

I think that's more the 'American media'- than the people at large. It is a price we pay for a media that is driven by greed, rather than principle. Controversy sells papers.
Last night's local news had a call-in poll. They wanted to know how many folks thought BP's 'offering of $20billion was going to be enough' to fix things. The way it was worded & the multiple answers they supplied gave no way of replying that - 'No, I don't think it will cover it- but I have confidence that when the $20 is spent, BP will toss some more in the pot.'

What country do you live in where MJ wouldn't trump energy supplies for the front page?
Jim
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wrote:

I was wondering what country, because MJ has been dead in this country or any other country for awhile. Maybe someone is reading old news about MJ's surgery?
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Nomar wrote:

Most recent example that came to mind...haven't been following any recent scandals :o) His name continues, now with dad accusing mom of being responsible for his death. Whooooooo care!?
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HeyBub wrote:

Let's see. One was at the same meeting as bin Laden's brother on 9/11, and the other was a failed oilman.
http://alaric3rh.home.sprynet.com/science/bceo.html
Sounds like a good Republican plan.
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Bob F wrote:

Well, at least it IS a plan.
And it only took me 60 days to come up with it.
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I'd love to see a link to a credible news organization that says this is true. Make sure it's a real one, not a 911 conspiracy BS one.
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On Sat, 19 Jun 2010 06:08:17 -0700 (PDT), snipped-for-privacy@optonline.net wrote:

Why do you let everyone else do your work? If you want a credible conspiracy theory about the Bin Ladens blowing up the oil rig, start it yourself!
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clipped

The most curious thing about the whole mess is that I haven't heard the "t" word once :o)What a gold mine!
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