5 replies to this topic

[Rogerdodger]

Insanity is doing the same thing over but expecting a different result.
Redistribution collectivists can't learn even from these hard lessons.
Their Ponzi Scheme policies to "spread the wealth around" always result in destruction and harm to the very people they claim to want to help.

Gene Inger comments:
"While Friday valiantly recovered lost early ground; caution remains highly appropriate.
Today's Sun Times reports that Rahm Emanuel closed the books last year with 33.4 million of unallocated cash on hand; down from 167 million the prior year. This is in addition to a mountain of debt piled on Chicago taxpayers. Long term debt of nearly 29 Billion suggests Chicago's actually insolvent. On a per-citizen basis, the debt-load has more than tripled in about ten years.

Ultimate money based on ultimate collateral remain crucial references in a modern financial market. It's in time of crisis that 'promises to pay' (prove to be empty promises.)"

Edited by Rogerdodger, 28 July 2013 - 10:20 PM.

[Rogerdodger]

CHICAGOLAND: Cash reserves plunge, debt triples...

Last week, Moody’s Investors ordered an unprecedented triple-drop in the city’s bond rating, citing Chicago’s “very large and growing” pension liabilities, “significant” debt service payments, “unrelenting public safety demands” and historic reluctance to raise local taxes that has continued under Emanuel.

The new round of borrowing brings Chicago’s total long-term debt to nearly $29 billion. That’s $10,780 for every one of the city’s nearly 2.69 million residents. More than a decade ago, the debt load was $9.6 billion or $3,338 per resident.

Had the city fully funded its $1.5 billion “actuarially required contribution” to its four under-funded city employee pension funds in 2012 alone, “these two reserves would have been entirely depleted,” Moody’s said.

Edited by Rogerdodger, 29 July 2013 - 08:15 AM.

[AChartist]

Hi Roger, usually these things are reduced to one or two obvious top line causes. I would say it is the destruction of work through the tax code. It is still illegal in US code to tax labor, only investment and passive income is taxable. For me I would have to take years off my life with long hours and hard labor to increase my income say 10%, to only take home 3-4% of that, work doesn't compute in the new world order. Which is why the young people won't work, so your looking at 2 generations to fix something. I don't think any learned behaviours change in one generation. This would then lead to things like a cold stop in the median and upper classes with a population explosion in the dependent classes. This thing is too far gone.

[Rogerdodger]

When Detroit had the bright idea to raise taxes on the rich, they moved out of Detroit.
Property values plummeted and tax revenue dried up.
DUH!
Since that worked so well, the Elite brain trust is back at it.:

WOONSOCKET: City hikes taxes 23%...

Assessor Christopher Celeste said that meant a tax bill of about $2,952 in the last budget year. But this fiscal year, with the cut in the exemption and the rate increase, that owner will owe about $3,629, an increase of $677.
Added to that is a nearly 19-percent supplementary tax on vehicles.

Edited by Rogerdodger, 29 July 2013 - 01:52 PM.

[AChartist]

http://www.blogtalkr...-hagmann-report

You'll have to check the start tomorrow, it's live now.

here is the whole enchillada as I have found it and pieced it together, this is the first time I have heard it spelled
out by this guy but it is the same story I have learned over a long time from many resources. This is the story that I
do not have titled or taxed property.

Some of the new clues I've seen, IMF said americans do not pay enough taxes and should be working 7 days a week
BIS said all central banks should end stimulous and let it go.
Here is the big one, the homeowner protection act, surprise it means the opposite, has passed committee with 3 months
expected to be law. This legallizes and federalizes the computer system that they used to robosign, package, securitize, and collateralize
the mortgages. This simply legalizes the plan to turn over your mortgages to foreign owners, in collateral, when the treasuries fail.
Now maybe they plan on more time to get more unqualified fodder into mortgages which obama is now pushing for, to be enabled by
this legislation. They probably do plan for more time.


So I am down to eliminating one newer car payment and all my other possessions will end up being left behind, that's why I never wanted
to buy a lot a crap.
I imagine I am in a protected strategic facility and have a little more time than others, and I may even be in a free sovereign state,
but when signs are real close or even as late as front page, it will probably come to a decision to
quit work proactively in order to get the 401k balance out and, get out.

I wonder if the stock market is up with bradley and terminal stage of currency devaluation to Sep and SHTF then.
Sure, if bernanke is going to end it, he will state the opposite and do the opposite to the Sunday night suprise date, thus allowing a devaluation thrust to sept.

[AChartist]

Probably can add pittsburgh, I always said it was an illuminati fiat experiment, come to find out it is one of their world headqtrs. they have been spending like drunken sailors with nothing there but education and medical hyperinflation frauds backed by debt.