Lets Raise Taxes on Big Corporations!

[FLYBOYJ]

Originally Posted by pbfoot

As bluehawk stated some people weren't born with any luck at all , sometimes you don't make your own luck. Example somebody that has a disfigurement , or some vivsible defect starts off life with one foot in the hole .

That sounds like a recipe for self induced failure. For everyone I see with a visible handicap, I also see potential in other areas where they could succeed. But it is funny - I see the working handicap complain the least about wages and opportunity.

[Bluehawk]

Originally Posted by FLYBOYJ

That sounds like a recipe for self induced failure. For everyone I see with a visible handicap, I also see potential in other areas where they could succeed. But it is funny - I see the working handicap complain the least about wages and opportunity.

Well, for one thing, they often have some sort of government disability income which, if they are able to live within their means, covers most basic needs.

Of course, the inculcated obsession with material wealth and stuff compels people to want for more than they can pay... so, obligingly, credit at high interest is offered to accommodate that conditioned response, which then leads to needing larger and newer stuff, and more credit beyond the means... and frequently a low credit rating, which in turn leads to high insurance rates and pay day lenders which, when mixed with drugs or booze, leads to living under bridges.

Even many church congregations "suggest" a tithe of 10% of personal income... so, it ain't cheap to be a living human - unless you live within your means and abilities.

Landfills fill, and second-hand stores stay in business with flea markets going between.

[FLYBOYJ]

Originally Posted by Bluehawk

Of course, the inculcated obsession with material wealth and stuff compels people to want for more than they can pay... so, obligingly, credit at high interest is offered to accommodate that conditioned response, which then leads to needing larger and newer stuff, and more credit beyond the means... and frequently a low credit rating, which in turn leads to high insurance rates and pay day lenders which, when mixed with drugs or booze, leads to living under bridges.

Even many church congregations "suggest" a tithe of 10% of personal income... so, it ain't cheap to be a living human - unless you live within your means and abilities.

BINGO!

[Amsel]

Now that "we the people" own these banks, are we going to get a cut of the quarterly dividends?

[timshatz]

Originally Posted by Amsel

Now that "we the people" own these banks, are we going to get a cut of the quarterly dividends?

Funny thing is, the way the thing is structured, the Govt is making about 1% more than their normal take, plus they are taking in money for the FDIC. Long and short, the part where they lend directly to the banks is already a money maker.

How the byback of the "worthless debt" (still paying at 97% last I heard) is priced is another question. Merrill priced theirs at .22 on the dollar (huge profit spread there). The banks are going to want par (100%), the fed is going to offer quite a bit less (22%? Maybe, for a start) but how it takes that debt is going to be the answer to the question of if this thing is good for the taxpayers. I doubt the low number, if that is the case, a bunch of banks are going to be insolvent. It certainly won't be par. But the question we all are gonna want to know, "What are we (we being the Govt) for this debt?".

[Bluehawk]

Originally Posted by Amsel

Now that "we the people" own these banks, are we going to get a cut of the quarterly dividends?

The gubmit was VERY careful to eschew actual ownership of the banks.

They merely printed some more money so as to increase the deficit by increasing the national debt which has been based almost entirely on usurious credit, which they used to purchase assets that have basically no value whatsoever.

[Bluehawk]

Originally Posted by FLYBOYJ

BINGO!

That's what this is all really about, isn't it Fly... just that simple.

Living within one's means...

EUREKA!

[Njaco]

Here's a question I've been thinking about.

Obama is for the middle class. The Messiah of the working poor.

Gonna raise taxes on those making over $250,000.

Most small businesses I know can show a worth of over that amount but its tied up in assets. They actually take home much less. So how is this great "plan" going to affect them?

[timshatz]

Originally Posted by Njaco

Here's a question I've been thinking about.

Obama is for the middle class. The Messiah of the working poor.

Gonna raise taxes on those making over $250,000.

Most small businesses I know can show a worth of over that amount but its tied up in assets. They actually take home much less. So how is this great "plan" going to affect them?

The taxes he is going to raise is on Income, not gross assets. A company worth a million dollars would not be affected by the tax increase. Only if the company owner brings home more than 250K a year. Obama is going to move the Inheritance tax to 3.5 million as the lower threshold (McCain is going for 5.5Million). That is where the value of the corporation would actually be assessed.

But the real problem is not what he says, but what he does. Bill Clinton Campaigned on a middle class tax cut. But when he got in office, he got a look at the books and raised everyone's taxes. I think that is a more likely scenario with Obama. And Clinton was dealing with a lot less debt, had promised a lot less money to people.

In short, everyone's taxes are going up. Either by increase in the rate or by reduction in the deductions. Probably a bit of both.

History has shown that it is the way the situation is handled by all Presidents.

[timshatz]

Originally Posted by Bluehawk

They merely printed some more money so as to increase the deficit by increasing the national debt which has been based almost entirely on usurious credit, which they used to purchase assets that have basically no value whatsoever.

The way I've heard it for the last 6 months is the Govt wants inflation to increase so they can buy back old debt with inflated dollars. Unfortunately, Europe didn't go with the script and the ECB (European Central Bank) raised rates back in July instead of cutting them. All of the sudden, our debt costs more as the dollar strengthened.

ECB got with the program last week but they are still too high with their interest rate. Expect to see some arb guys making money on this one. Maybe even a carry trade (borrowing one currency at a low rate and investing it in another at a higher rate) if the spread gets large enough.

[Bluehawk]

Originally Posted by timshatz

The way I've heard it for the last 6 months is the Govt wants inflation to increase so they can buy back old debt with inflated dollars. Unfortunately, Europe didn't go with the script and the ECB (European Central Bank) raised rates back in July instead of cutting them. All of the sudden, our debt costs more as the dollar strengthened.

ECB got with the program last week but they are still too high with their interest rate. Expect to see some arb guys making money on this one. Maybe even a carry trade (borrowing one currency at a low rate and investing it in another at a higher rate) if the spread gets large enough.

Yup...

In order to support inflationary pressure based on speculative credit, they have GOT to keep consumption levels as high as possible, preferably as loans or revolving charges on credit.

As and if and when that consumption dives, there isn't enough money on earth to prevent truly severe retraction.

The ones most likely to survive it are those who live within their means already.

Afterward, gradually the system will entrench again just as it is now, but maybe with some slightly different regulations to keep the people mollified. And the cycle will start over.

[timshatz]

Originally Posted by Bluehawk

The ones most likely to survive it are those who live within their means already.

That's good advice no matter what is going on.

Whatever happens, all this Govt Regulation is setting up the next scam. Just like the last scam. What will it be? Not sure. But you could do well to keep an eye on the banks. They are so flooded with Govt liquidity that they have every opportunity to make big bucks. WFC, BOC are bound to do well.

Somebody is going to make a killing. Keep an eye open cause the next subprime is in the paperwork Congress passed over the last couple of weeks.

[Bluehawk]

Originally Posted by timshatz

That's good advice no matter what is going on.

Whatever happens, all this Govt Regulation is setting up the next scam. Just like the last scam. What will it be? Not sure. But you could do well to keep an eye on the banks. They are so flooded with Govt liquidity that they have every opportunity to make big bucks. WFC, BOC are bound to do well.

Somebody is going to make a killing. Keep an eye open cause the next subprime is in the paperwork Congress passed over the last couple of weeks.

Good post ^...

Judging by the way these folks used mathematical models to create this insanity, my guess is that the killing has already been made - all we have yet to do is discover who made and paid the most.

[timshatz]

Originally Posted by Bluehawk

my guess is that the killing has already been made .

Regarding the banking scandal, yes, to some extent. There is still some money to be made in the rebound. Plenty of people are watching that.

But the next scam is probably going to be on hard items, commodities. Going up and coming down. Right now they are coming down. People are not going to put money into items that don't produce a concrete item.

The ups and downs of fuel oil are worth watching. Tanking now. Will overshoot. Could be a good one to watch.

Shorting retailers is probably a good idea too. GAP, Ralph Lauren, stuff like that. Worth watching.

[Bluehawk]

Originally Posted by timshatz

Regarding the banking scandal, yes, to some extent. There is still some money to be made in the rebound. Plenty of people are watching that.

But the next scam is probably going to be on hard items, commodities. Going up and coming down. Right now they are coming down. People are not going to put money into items that don't produce a concrete item.

The ups and downs of fuel oil are worth watching. Tanking now. Will overshoot. Could be a good one to watch.

Shorting retailers is probably a good idea too. GAP, Ralph Lauren, stuff like that. Worth watching.

My brother, who watches the minute details of these things, referred to these phenomenae as a "deadcat bounce"