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Fiscal Cliff

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Re: Fiscal Cliff: 2% hike if you make over 50k

Postby BigBallinStalin on Mon Jan 07, 2013 4:06 am

Lootifer wrote:
BigBallinStalin wrote:
Lootifer wrote:
Phatscotty wrote:
Lootifer wrote:Haha, I imagine live very comfortably off $2000/week disposable income (after tax). I know I would be pretty happy about that.


But can you really understand what you would have to do to earn 4,000/week? I mean, let's speculate a little, as I'm gonna guess it's not a 28 or 36 hour work week.....and I'll also guess you don't get to sleep in. Probably a job in the city too, but maybe not, so then what time do you have to wake up to deal with traffic in Los Angeles?

And who are you working for? Are you working for yourself and your family? Or are you working for someone else?

Depends on how much money you currently have; the ole adage of "takes money to make money".

In NZ you could easily (I think) make around 400k by being head of a business unit in a fairly large organisation; for example CFO or something similar. I know a few of these types and sure they work hard, but thats not really why they get paid that much; they get paid because of their responsibility and their intellect/skills (or more specifically their history which shows them to have a high intellect/skill level).


Didn't you say awhile ago that CEOs were in a 'good ol boys' club which colluded internationally in order to increase the price of their labor?

Haha, touche.

However I think there is a significant difference between level 1 (CEO) in a major corporate (see list of companies J_B hates), compared to a level 2 (exec team) in large corporates (major >>>>>> large). The labour market is much more liquid. I personally think there is some critical lack of liquidity (or barriers to entry if you will) at the CEO level in major corporates that has lead to them having the aforementioned old boys club, and thus effectively creating some kind of market failure (from a point of view that considers social apsects as well of course).


I can easily imagine that as well, but it's a difficult position to believe without some good evidence.

You're talking about a scheme involving possibly hundreds of executives directly and probably thousands or tens of thousands of employees and mid-level managers indirectly. It reminds me of the NASA Moon Landing conspiracy. Remember if you rewind the footage at a certain speed, then you can see that the astronauts are actually walking. And if you look closely Michael Jackson was doing the moonwalk in the background by the cliff face near the horizon.

[/85% tongue-in-cheek]
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Re: Fiscal Cliff: 2% hike if you make over 50k

Postby thegreekdog on Mon Jan 07, 2013 8:41 am

PLAYER57832 wrote:
thegreekdog wrote:
It doesn't seem like that's what you wanted the law to accomplish. But I guess you and all the Democratic editorialists are easily duped into believing you got what you want since the president has a "D" next to his name.

No, its more like media needs to have a relative period of peace.. so they can have an excuse to cover the next imagined tragedy without people just getting so frustrated they will turn off their sets.

The real truth, of course, as you noted is that the so called "fix" did little to change the root causes. And most of the fixes are intent on continuing the status quo with only the most minor of changes.


Here you go Player. At least some of your compatriots are complaining.

http://www.washingtontimes.com/news/201 ... increases/
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Re: Fiscal Cliff

Postby Timminz on Mon Jan 07, 2013 6:12 pm

jay_a2j wrote:Image

OTHER MANDATORY???????? That's not MANDATORY. Medicaid is a safety net not a HAMMOCK!!! :x


I read an article the other day that is somewhat relevant to this topic.

Contrary to "Entitlement Society" Rhetoric, Over Nine-Tenths of Entitlement Benefits Go to Elderly, Disabled, or Working Households

Don't worry jay, I don't expect you to read it. This one's for the grown-ups.
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Re: Fiscal Cliff

Postby thegreekdog on Mon Jan 07, 2013 6:18 pm

Timminz wrote:
jay_a2j wrote:Image

OTHER MANDATORY???????? That's not MANDATORY. Medicaid is a safety net not a HAMMOCK!!! :x


I read an article the other day that is somewhat relevant to this topic.

Contrary to "Entitlement Society" Rhetoric, Over Nine-Tenths of Entitlement Benefits Go to Elderly, Disabled, or Working Households

Don't worry jay, I don't expect you to read it. This one's for the grown-ups.


The "entitlement" label is ridiculously stupid (sorry to go off on this tangent). The biggest beneficiaries of public dollars are people who don't need the public dollars. For serious, if people actually understood how the tax code works, how appropriations and subsidies work, and all the public choice crap that BBS types up, we'd have a lot less stupidity in this country. I want a chart showing how much of those entitlements get handed out a year.
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Re: Fiscal Cliff

Postby PLAYER57832 on Mon Jan 07, 2013 6:39 pm

thegreekdog wrote:
Timminz wrote:
jay_a2j wrote:Image

OTHER MANDATORY???????? That's not MANDATORY. Medicaid is a safety net not a HAMMOCK!!! :x


I read an article the other day that is somewhat relevant to this topic.

Contrary to "Entitlement Society" Rhetoric, Over Nine-Tenths of Entitlement Benefits Go to Elderly, Disabled, or Working Households

Don't worry jay, I don't expect you to read it. This one's for the grown-ups.


The "entitlement" label is ridiculously stupid (sorry to go off on this tangent). The biggest beneficiaries of public dollars are people who don't need the public dollars. For serious, if people actually understood how the tax code works, how appropriations and subsidies work, and all the public choice crap that BBS types up, we'd have a lot less stupidity in this country. I want a chart showing how much of those entitlements get handed out a year.

Exactly.. but much easier to target those "undeserving" (aka wont speak up too much..) working poor, disabled, etc.

Too bad it puts the label "undeserving" rather on its head.

When they brought up that 45% figure, while it was not the true number of people who don't pay taxes, the whole idea of leaders thinking that 45% of our US population are all just lazy bums... well, as I noted elsewhere, poor managers always seem to blame their workers for "not working hard enough", etc, etc. Funny how good managers don't seem to have that problem. Seems like our country is being led by a bunch of very poor managers... folks decent at accumulating money, but not managing people.
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Re: Fiscal Cliff: 2% hike if you make over 50k

Postby PLAYER57832 on Mon Jan 07, 2013 6:41 pm

thegreekdog wrote:
PLAYER57832 wrote:
thegreekdog wrote:
It doesn't seem like that's what you wanted the law to accomplish. But I guess you and all the Democratic editorialists are easily duped into believing you got what you want since the president has a "D" next to his name.

No, its more like media needs to have a relative period of peace.. so they can have an excuse to cover the next imagined tragedy without people just getting so frustrated they will turn off their sets.

The real truth, of course, as you noted is that the so called "fix" did little to change the root causes. And most of the fixes are intent on continuing the status quo with only the most minor of changes.


Here you go Player. At least some of your compatriots are complaining.

http://www.washingtontimes.com/news/201 ... increases/

Since when does wanting to elect "ANYONE but Romney" equal "Obama supporters" are "my cronies?"

We may only get 2 real choices in voting for president, but that hardly means there are only 2 modes of thinking in this country.. and the idea that there are just those 2 options is a pretty big part of the problem.
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Re: Fiscal Cliff

Postby BigBallinStalin on Mon Jan 07, 2013 8:51 pm

thegreekdog wrote:
Timminz wrote:
jay_a2j wrote:Image

OTHER MANDATORY???????? That's not MANDATORY. Medicaid is a safety net not a HAMMOCK!!! :x


I read an article the other day that is somewhat relevant to this topic.

Contrary to "Entitlement Society" Rhetoric, Over Nine-Tenths of Entitlement Benefits Go to Elderly, Disabled, or Working Households

Don't worry jay, I don't expect you to read it. This one's for the grown-ups.


The "entitlement" label is ridiculously stupid (sorry to go off on this tangent). The biggest beneficiaries of public dollars are people who don't need the public dollars. For serious, if people actually understood how the tax code works, how appropriations and subsidies work, and all the public choice crap that BBS types up, we'd have a lot less stupidity in this country. I want a chart showing how much of those entitlements get handed out a year.


[insert supporting economic globbedy-gook]
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Re: Fiscal Cliff

Postby jay_a2j on Tue Jan 08, 2013 2:06 am

Just heard Dennis Miller talk about when he was 8 years old. He asked his mom why she didn't go out and get a job so they could have better things and she replied, "If I got a job, I'd loose my welfare".



And don't sit there and act like this doesn't go on in every city/town, every street, every neighborhood in this country.... because THIS is everywhere. I don't care what your link (from DC btw) has to say. You can spin any info. to say what you want it to say. Even so, that's 1/10 that could go towards Obama's debt!!!!
THE DEBATE IS OVER...
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Re: Fiscal Cliff: 2% hike if you make over 50k

Postby thegreekdog on Tue Jan 08, 2013 8:37 am

PLAYER57832 wrote:
thegreekdog wrote:
PLAYER57832 wrote:
thegreekdog wrote:
It doesn't seem like that's what you wanted the law to accomplish. But I guess you and all the Democratic editorialists are easily duped into believing you got what you want since the president has a "D" next to his name.

No, its more like media needs to have a relative period of peace.. so they can have an excuse to cover the next imagined tragedy without people just getting so frustrated they will turn off their sets.

The real truth, of course, as you noted is that the so called "fix" did little to change the root causes. And most of the fixes are intent on continuing the status quo with only the most minor of changes.


Here you go Player. At least some of your compatriots are complaining.

http://www.washingtontimes.com/news/201 ... increases/

Since when does wanting to elect "ANYONE but Romney" equal "Obama supporters" are "my cronies?"

We may only get 2 real choices in voting for president, but that hardly means there are only 2 modes of thinking in this country.. and the idea that there are just those 2 options is a pretty big part of the problem.


If you voted for the president, which I'm sure you did, do you think you are part of the solution or part of the problem? I suspect you voted Democrat across the board and that made sure that at least one Pennsylvania resident helped the two major parties stay in power. So, I hereby declare that you no longer have the right to complain about anything that the government should or should not do.
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Re: Fiscal Cliff

Postby saxitoxin on Tue Jan 08, 2013 3:52 pm

saxitoxin wrote:Have to agree with Scott, NS and R2 here ... this agreement just guaranteed a new war against some unsuspecting country.

A new round of delays in making substantial spending cuts will mean the dollar will continue to falter and more nations will seek to denominate natural resource exchanges in alternate monies, requiring the U.S. to - in turn - use the Stick harder and more frequently to ensure petro-dollar supremacy when the next upstart tries to switch to trading in a new currency (see: Iraq and the euro in 2003 or Libya and the dinar in 2011 or Panama and the yuan in 1989, etc.).


Sometimes it's like all the world's editorial writers are trawling the Club, seeking to use what Saxi says in their columns ...

It would be fair to say that U.S. hedge-fund manager Kyle Bass does not expect the explosion in global debt in recent years to turn out well. "I don't know who's going to fight who, but I'm fairly certain that in the next few years you will see wars erupt, and not just small ones," he told a recent conference. Bass bases his apocalyptic view on his calculation that credit market debt has reached 340 percent of global output, saying the world has never lived in peacetime with such a burden.

He says some societies will not withstand the social strain when trillions of dollars of debt have to be restructured, inflicting hefty losses on millions of investors.

http://www.reuters.com/article/2013/01/ ... me=topNews
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Re: Fiscal Cliff

Postby BigBallinStalin on Tue Jan 08, 2013 4:04 pm

You can see some sources of conflict today over exchange rates. As the US continues to devalue its currency with QE1, 2, and 3, then its value relative to other currencies decreases, thus making US exports cheaper in foreign countries--while making imports from foreign countries more expensive in the US.

This seems to be a great policy! Create more exports and decrease imports! But the problem is that other countries can just as easily devalue their currencies--e.g. Japan, which is considering another monetary expansive policy. South Korea, Switzerland, the Eurozone, China, and many countries enact similar monetary policies, so no one really benefits from this, and all the while this aggravates relations between these countries.

The next move is import quotas and tariffs and/or (additional) subsidies to particular industries/corporations, so that they are more 'competitive' on the international markets. That debt, which Kyle Bass mentions, is mainly caused by the monetary policies of these countries' central banks. The next 5-10 years will become very interesting.
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Re: Fiscal Cliff

Postby patches70 on Tue Jan 08, 2013 4:39 pm

BigBallinStalin wrote:You can see some sources of conflict today over exchange rates. As the US continues to devalue its currency with QE1, 2, and 3, then its value relative to other currencies decreases, thus making US exports cheaper in foreign countries--while making imports from foreign countries more expensive in the US.........

....That debt, which Kyle Bass mentions, is mainly caused by the monetary policies of these countries' central banks. The next 5-10 years will become very interesting.



Yes, great policy.

Image

Interesting to note, there in 1971, when inflation really goes apeshit, was when Nixon closed the gold window.

Did you know that real wages peaking in 1972? Since then we've had 39 straight years where real wages have been below the peak rate.
http://middleclasspoliticaleconomist.bl ... their.html

So, let's keep on with this charade. It's been doing wonders for us.
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Re: Fiscal Cliff

Postby Lootifer on Tue Jan 08, 2013 4:48 pm

Whats wrong with [sub-3%] inflation assuming the real metrics are all positive?
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