4:42 am, May 23, 2015

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  • 37

  • Clueless
    Causey says: "Congress and the White House (finally) showed some sense." Problem with that is, the issue is not sequestration. The problem is the debt. Debt has to clear out. Iceland did the right thing, going deeper into debt so we can fall off a bigger cliff later is crazy. Of COURSE the Congress will kick the can down the road another six months. What else are they going to do? They can't raise interest rates now (that Goldman Suchs owns them), so all they can do is "money printing." When they kick the can this time, U.S. debt will be downgraded to junk status (its almost junk status now). Interest rates will have to rise in order to sell debt. But a 5% interest rate will collapse the banks (with over 500 trillion of CDS). So they will print, print, print, leading to a debt default due to currency collapse. Good luck with reality down when it finally hits.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Iceland and USA
    Iceland allowed their three banks to go into bankruptcy. The government did honor the legal limit to reimburse depositors. The problem with the larger US banks is that in the past, they were bailed out by both Democrats and Republicans. Dodd-Frank does nothing to cure this. Small and medium banks should be allowed to go bankrupt and either, rolled into sucessful banks, or shut down. Depositors should be protected to $50,000; not the present $250,000. The ten largest banks, if in trouble, and requiring government bailout should be forced into a form of bankruptcy. All salaries and bonuses would no longer be legally viable. After bank examiners have completed a review, profitable sectors might be paid part, or all of bonuses. Employees of sectos that lost money should be shown the door with two weeks salary and directions to apply for unemployment insurance.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Get real
    Let me understand this: Employees of sectos that lost money should be shown the door with two weeks salary and directions to apply for unemployment insurance. The lowly secretary, not involved in policies, should be shown the door and go for unemployment? Are you kidding? In this economy? You are retired and would not be affected by that policy. I assume you do not have $50000 in a bank. And you are retired under CSRS so you do not need the cash in those accounts. How nice of you. Sarcasm noted. Tjhe limit was raised due to the bank problems. Of course you would prefer runs on banks.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }