Posted on 10/09/2011 4:02:47 PM PDT by Razzz42
Don’t need a “reset”; need Congress to quit spending more money than they collect, so the Benbernank won’t have the opportunity to print money and drive interest rates to zero.
40-50 years ago, the Fed budget was “nearly” balanced and anyone could get 4% on passbook savings accounts; that should never have ended. If we didn’t have a profligate government making promises that could never be kept, it probably wouldn’t have ended.
I believe he is saying his mother's return on her savings went to zero, so she couldn't live on the interest anymore, so she had to spend the principal.
I've seen this myself. One of my retirement accounts in money-market funds used to pay $400-500 per month. Now it pays literally under $1.00 per month.
This burns me. On one hand,college students think they know everything about anything because they just learned it for the first time in some Dumbass College Course 101.
They think the power of the vote, the power of real morality and the power of seeing things with "fresh eyes" gives them some kind of special anointed status. They are special, and there is nobody who can compete with them for the attention the political parties (read Democrats) pay to them.
But...are they that, or are they victims of "the inexperience of children and young people just starting out in life"?
I was a young college student once, but I had a leg up on them: I had been in the military, and did a four year hitch. I had responsibility and life experiences under my belt. I signed legal contracts for things, but was prepared to stand by them. I didn't want to incur $100,000 worth of loans, so I went to a state college. That was MY CHOICE. Nobody twisted my arm, it was MY decision. But even then, I thought I knew everything. These ignorant turds down there don't have life experiences deeper than mom and dad paying for their tuition, their car and the insurance for it.
Screw them. I hope all those losers down there rot.
He's complaining that Fed zero interest rates to banks drove down interest income for elderly conservative savings account investors, thus they had to use principle to cover living expenses and they lost enough principle to hurt.
These protesters are and the Tea Party are opposite sides of the same coin. They both see massive problems for this country, although they disagree in the causes and solutions. I personally think neither party offers a solution. The problem for the USA is the Federal Reserve (global banking cartel) and globalism.
The Federal Reserve robs savers and middle class wage earners through inflation.
Globalism pits American workers against 3rd world workers who earn 95% less. This is a battle they could not possibly win.
More and more people are beginning to realize we are in big trouble. This is only the beginning.
People who have made sound decisions, based on what they could afford are now being punished for doing so while those that made irresponsible decisions are being treated as victims and heros of the movement.
People who have made sound decisions, based on what they could afford are now being punished for doing so while those that made irresponsible decisions are being treated as victims and heros of the movement.
I agree with you. Unfortunately Soros & Co apparently see this chaos as their opportunity to replace our constitution with whatever it is they want - communism apparently. And the media apparently sees this as a great story - the destruction of the US of A and reconfigured as the Soviet US of A. Just think of the headlines! /s
I agree completely.
I strongly disagree. These stinking pieces of crap protesting in New York have NO sound principles about ANYTHING. The foundation of their entire thought process is a mistake and a lie. Just because they have one component or another that might be commonsense that does not give them any standing whatsoever.
I can say that drinking antifreeze is a bad thing, those turds can say the same thing, but that does not give them any cache of logic, is simply means they are right on one thing.
The Tea Party may not have all the answers either, but they DAMN sure have a better basic approach to the issues at hand than any single one of those brainless nitwits in New York. This country would be far better off following the advice of even one of the most ignorant Tea Party members than the smartest of those stinking protesters.
I am not a betting man, but here is something I would bet large sums of money on: Take ten Tea Party Members and ten of these "Occupy Wall Street" losers at random, have each group write down three concepts to flesh out and implement in government, and see which ones result in a healthier country.
If you say that the Tea Party and the protesters are two sides of a coin, if you mean one is good and one is evil, or that one is logical and one is illogical, or that one loves America and one hates America, then I would agree with you, yes. They are two sides of a coin.
It seems a small showing of bored teenagers, and paid union thugs more than anything else. The stunning Irony of the the Communists paying kids to protest capitalism is just delicious.
Say, that’s catchy. We should call them the Flea Party.
Because a lot of people on this site are economic morons brainwashed by the likes of rush and hannity.
these protesters are right to protest the banks, but their goals are wrong, and they need to protest the federal reserve and govt as well.
Get a book called Creature from Jeykll Island and you will learn the reality of the mess we are in.
I believe the Boston Fed gave the marching orders directing banks to give out the CRA "toxic asset" loans that would never be repaid.
People who made right decisions are also punished by the banking cartel. I really don’t think many on this site are informed as to what is going on w our ponzi scam nation.
our entire nation is one giant ponzi scheme right now and people are waking up to it.
I stole it from another FReeper.
Flea party, Fleabaggers... Love it.
Obama and Andy Cuomo are both on YouTube video admitting exactly what you said. Look it up. It’s crazy. Obama is in a YouTube clip discussing this.
when leftists morons defend him I slam them we these facts and his complicity in the ponzi scam and they have nothing.
Lee Adler said terrible things about Ronald Reagan the day he died. That’s why I quit his website. I could go on with a 100 or a 1,000 examples of his left wing lunacy but I won’t. I’ll just say charitably he is one of those Jews who doesn’t believe his own religion.
The sheer stupidity of so many kids is really astounding... Maybe they should look into suing their high school guidance counselors, as well as the financial aid offices of their colleges.
There are people who have graduated from college owing hundreds of thousands of dollars with degrees preparing them for jobs paying $20,000 a year, if they can even find a job! Many of those jobs being teaching the same useless course material at a university!
The slightest bit of thought about what they were doing would have kept them from doing it!
Mark
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