Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues III

[Theweepeople]

Originally Posted by Kelly

I honestly do not see how people live in California or New York these days and make it....I have several friends that teach in New York, and they absolutely love it, but they can't afford to live there anymore, and they are SINGLE, no kids, nothing.... just sad.

It's been interesting living in southern California for 30 plus years. I loved living here when I was younger because of the weather, the beaches, being close to Disneyland, and the people were generally nice. My parents taught me the basic important principles of hard work, respecting authority, having a positive attitude, and preparing for my future. I'm a stubborn and rebellious individual by nature but, I learned these ideas and putting them into action has given me decent economic success in corporate america.


Unfortunately, the success I've achieved is incremental. After graduating from college with a physical science degree I had to live at home with my parents for a while to accumulate enough money to buy a car and a condo. In-spite of the money I saved and earned there was never enough cash to keep me stable financially. I was always either breaking even or in the red with my debt issues. All of the companies I previously worked for grossly underpaid me below market value until I finally, got enough experience in the health care industry to get a better job. Fortunately, the marriage to my wife also helped to temporarily solve the financial issues since she makes good money as an optician. I think we'll be okay after our baby is born but, I'm concerned about my child's future in this state.


I'm not happy living here any longer for a variety of reasons. The cost of living is too expensive, the air quality is getting worse, high gas prices, and the traffic is intolerable. The politics locally and state wide are crap, while the influence Hollywood has on elections is nauseating, and there seems to be an exponential rise in the number of lazy snobbish people living here that crosses all ethnic groups, age groups, and economic status.


Politically there is no two party system here anymore. The democratic party has had control of the state legislature for decades and this has done wonders for our bankrupt economy. Now they have a super majority strangled hold and can pretty much pass whatever laws they want without any opposition. These politicians might be the most corrupt and immoral ones in the nation. They're never concerned about balancing the budget, fixing the statewide business exodus problem, or protecting the rights of citizens.


They're more concerned about the financial future and unlicensed driving rights of illegal immigrants through passage of the Dream Act and AB 353. One bill gives free scholarships to illegal immigrants while the other protects unlicensed drivers(statically illegal immigrants) from having their cars impounded. Thank you Gov. Jerry Brown for helping prevent hundreds of thousands of well qualified high school graduates from furthering their educational dreams. Also, thanks for increasing the chances of a close friend, acquaintance, or family member of getting killed by any unlicensed driver who statistically are more often than not illegal immigrants. Finally, Jerry Brown thank you for signing Prop 30(The largest sales and income tax in state history) and at the same time giving Hollywood tax credits for five years. Apparently there are no bounds to your hypocrisy.



So now are main exports are small businesses, corporate businesses, rich people(Tiger Woods already left and Phil Nicholson will eventually), sports franchises(Sacramento Kings). Are main imports will be illegal immigrants and aspiring actors/actresses from all other states. In the future I see the small and corporate business exodus continuing with the middle class vanishing. Sooner or later the only businesses operating here will be casinos, medical marijuana stations, and the porn industry(Measure B might convince this industry to leave as well).Then all this state will need is an enormous earthquake for it's residents to experience something similar to a real life Escape from LA adventure. Everyone likes adventure.

[enterthemadness]

I'm shocked Gamestop is on this list...maybe they just have too many stores, got 4,400 plus currently. There's one in town, then about 18 minutes away in Morehead, then 30 minutes away in the other direction is another one. But the one in New Bern is small and hurts my spirit the few times I've been inside. So small.

Anyway, I have The Final Countdown blasting in my head, but with Casper Van Dien singing it. Dat CVD. Nah, I don't, but that be cool to see him butcher that song. am I right, Matt?

http://finance.yahoo.com/news/eight-....html?page=all

Top 8 store closings...

1. Best Buy. 200-250 closings. U.S Stores: 1,056.

2. Sears..I can't be bothered with them...or you, K-mart.

I can't be bothered at all, outside of Best Buy and Gamestop. Radio Shack keeps messing up my phone payment to Virgin Mobile, so to hell with them.

Game Stop closing 500-600, U.S stores 4,471.

I smell 8.1% unemployment later on in the yeeeeeeeear. if Amazon ever has troubles or Walmart...well...good day, then.

[Kelly]

Game Stop does need to close some of its stores. It has stores in every mall, and hell almost on every street corner. I have a feeling they are doing what Starbucks did and they have a mark that if the store has not hit it within a certain amount of time, they will be closed.

[enterthemadness]

No more first class mail on Saturdays beginning August 1st 2013 via USPS..



http://www.nbcnews.com/business/post...days-1B8262819

[Paradoxium]

Glorious news comrades.

Repeat after me. CAPITAL FLIGHT.

Tax Hikes Backfire, Greece’s Revenues Plummet

[Paradoxium]

Meanwhile Bitcoin continues to do well. There are number of Greeks dumping into this since no other international banks wants to touch them. God bless you Europe. Your fail train could spur an alternative non-sovereign currency.

[enterthemadness]

Well...

http://www.bloomberg.com/news/2013-0...uys-world.html


I will say this...I do no hate Putin or Russia. My hate which is now at this level is purely at the Fed Reserve, and our two main parties, and oh yes, Commission on Presidential Debates. Our govt is far more likely to **** things up in this country on a epic scale at this rate, than a silly Russian or Chinese invasion happening. Or attacking us.

Guess that makes me evil...or I dunno, wanting the LP to rise up, cause it not, monetary collapse at this rate.

[SoulManX]

Originally Posted by Theweepeople

It's been interesting living in southern California for 30 plus years. I loved living here when I was younger because of the weather, the beaches, being close to Disneyland, and the people were generally nice. My parents taught me the basic important principles of hard work, respecting authority, having a positive attitude, and preparing for my future. I'm a stubborn and rebellious individual by nature but, I learned these ideas and putting them into action has given me decent economic success in corporate america.


Unfortunately, the success I've achieved is incremental. After graduating from college with a physical science degree I had to live at home with my parents for a while to accumulate enough money to buy a car and a condo. In-spite of the money I saved and earned there was never enough cash to keep me stable financially. I was always either breaking even or in the red with my debt issues. All of the companies I previously worked for grossly underpaid me below market value until I finally, got enough experience in the health care industry to get a better job. Fortunately, the marriage to my wife also helped to temporarily solve the financial issues since she makes good money as an optician. I think we'll be okay after our baby is born but, I'm concerned about my child's future in this state.


I'm not happy living here any longer for a variety of reasons. The cost of living is too expensive, the air quality is getting worse, high gas prices, and the traffic is intolerable. The politics locally and state wide are crap, while the influence Hollywood has on elections is nauseating, and there seems to be an exponential rise in the number of lazy snobbish people living here that crosses all ethnic groups, age groups, and economic status.


Politically there is no two party system here anymore. The democratic party has had control of the state legislature for decades and this has done wonders for our bankrupt economy. Now they have a super majority strangled hold and can pretty much pass whatever laws they want without any opposition. These politicians might be the most corrupt and immoral ones in the nation. They're never concerned about balancing the budget, fixing the statewide business exodus problem, or protecting the rights of citizens.


They're more concerned about the financial future and unlicensed driving rights of illegal immigrants through passage of the Dream Act and AB 353. One bill gives free scholarships to illegal immigrants while the other protects unlicensed drivers(statically illegal immigrants) from having their cars impounded. Thank you Gov. Jerry Brown for helping prevent hundreds of thousands of well qualified high school graduates from furthering their educational dreams. Also, thanks for increasing the chances of a close friend, acquaintance, or family member of getting killed by any unlicensed driver who statistically are more often than not illegal immigrants. Finally, Jerry Brown thank you for signing Prop 30(The largest sales and income tax in state history) and at the same time giving Hollywood tax credits for five years. Apparently there are no bounds to your hypocrisy.



So now are main exports are small businesses, corporate businesses, rich people(Tiger Woods already left and Phil Nicholson will eventually), sports franchises(Sacramento Kings). Are main imports will be illegal immigrants and aspiring actors/actresses from all other states. In the future I see the small and corporate business exodus continuing with the middle class vanishing. Sooner or later the only businesses operating here will be casinos, medical marijuana stations, and the porn industry(Measure B might convince this industry to leave as well).Then all this state will need is an enormous earthquake for it's residents to experience something similar to a real life Escape from LA adventure. Everyone likes adventure.

Hooyah for Hollywood:

[Destructus86]

Originally Posted by enterthemadness

No more first class mail on Saturdays beginning August 1st 2013 via USPS..



http://www.nbcnews.com/business/post...days-1B8262819

Someone needs to let that horse die. Then privitize it back to life.

[Handsome Rob]

Retail Sales Growth Slows as Higher Taxes Kick In

http://www.reuters.com/article/2013/...91C0U520130213

I'm shocked, I tell you! Shocked!!

Spoiler!!! Click to Read!:

Actually, I'm utterly unsurprised.

[wiegeabo]

When are people going to realize that we're on the downside of the Laffer Curve?

It is actually possible to increase tax revenue by lowering taxes.

[Handsome Rob]

Originally Posted by wiegeabo

When are people going to realize that we're on the downside of the Laffer Curve?

It is actually possible to increase tax revenue by lowering taxes.

Honestly, wieg, I think there are people that actually do not believe nor do they understand how that is possible. I really think their level of understanding is this:

Tax rate increases = more revenue
Tax rate reductions = less revenue

That's it. That is their reality. No impact of tax rate increases/reductions beyond that, because the amount of wealth (and thus income) in the country is fixed and cannot change--income/wealth/money only moves from one person/company/entity to another.

[enterthemadness]

Originally Posted by Handsome Rob

Retail Sales Growth Slows as Higher Taxes Kick In

http://www.reuters.com/article/2013/...91C0U520130213

I'm shocked, I tell you! Shocked!!

Spoiler!!! Click to Read!:

Actually, I'm utterly unsurprised.

Read the article but all I could read was 'blah blah blah'.

Are we closer to a double dip recession or not?

[Marvolo]

Originally Posted by enterthemadness

Read the article but all I could read was 'blah blah blah'.

Are we closer to a double dip recession or not?

Haha forget the details. You just wanna know if we are going up in smoke yet. Kepping it simple.

[Destructus86]

Originally Posted by Handsome Rob

Retail Sales Growth Slows as Higher Taxes Kick In

http://www.reuters.com/article/2013/...91C0U520130213

I'm shocked, I tell you! Shocked!!

Spoiler!!! Click to Read!:

Actually, I'm utterly unsurprised.

Gee...didn't see THAT one coming.

[enterthemadness]

Originally Posted by Marvolo

Haha forget the details. You just wanna know if we are going up in smoke yet. Kepping it simple.

Well, I've said on this board...the only thing I can think of that will be good out of a monetary collapse, or even double dip recession, is it increase the chances of 3rd parties or minor parties taking off and getting into the debates.

Hell, just give the Libertarian or Green Party $30 million dollars. Not for ballot access, they can do that on their own. Not sching interviews. Just 30 million towards a consulting firm or whatever that it seems you need, then tv ads, radio ads, internet ads. Let's say the firm they hire wants...$100K or so, or $2 million to help them film ads for TV or help get them out, pay it. Launch tv/radio 4 months out, then internet ads. Create buzz.

[Kelly]

Originally Posted by enterthemadness

Well, I've said on this board...the only thing I can think of that will be good out of a monetary collapse, or even double dip recession, is it increase the chances of 3rd parties or minor parties taking off and getting into the debates.

Hell, just give the Libertarian or Green Party $30 million dollars. Not for ballot access, they can do that on their own. Not sching interviews. Just 30 million towards a consulting firm or whatever that it seems you need, then tv ads, radio ads, internet ads. Let's say the firm they hire wants...$100K or so, or $2 million to help them film ads for TV or help get them out, pay it. Launch tv/radio 4 months out, then internet ads. Create buzz.

Good luck reforming the media outlets in this country.....will never happen.

[enterthemadness]

Originally Posted by Kelly

Good luck reforming the media outlets in this country.....will never happen.

$$$ talks. TV may be harder to get, but buying ads to play in front of videos on YouTube and ad banners on YouTube will be easier to get done, and radio ads are easier to get with $$$ I imagine.


But if a 3rd Party gets $$$, I don't see why a ABC or a ESPN or whatever wouldn't take it and run ads in the slot requested.

if the Libertarian Party ran ads somehow on FOX NEWS, Fox would put them on during the breaks on Red Eye. And on a Saturday episode at that.

[chaseter]

Originally Posted by Handsome Rob

Retail Sales Growth Slows as Higher Taxes Kick In

http://www.reuters.com/article/2013/...91C0U520130213

I'm shocked, I tell you! Shocked!!

Spoiler!!! Click to Read!:

Actually, I'm utterly unsurprised.

Where are all these people that were in here in November badgering my posts over me calling tax hikes stupid? Where are you people at? No one posted any links to evidence showing tax hikes during a recession work when I asked them to support their train of thought. They just parroted the Obama line of 'fair share'. Where are you all at? Excel?

[Paradoxium]

The Laffer curve is wrong, it's simply tax sheltering and capital flight.

The difference is, once you go that road, it might be too late to reverse it. But the people who voted for this don't mind capital flight.

[Destructus86]

Originally Posted by chaseter

Where are all these people that were in here in November badgering my posts over me calling tax hikes stupid? Where are you people at? No one posted any links to evidence showing tax hikes during a recession work when I asked them to support their train of thought. They just parroted the Obama line of 'fair share'. Where are you all at? Excel?

I think I saw them taking turns on their knees in front of Obama.....just saying...

[Kelly]

Originally Posted by enterthemadness

$$$ talks. TV may be harder to get, but buying ads to play in front of videos on YouTube and ad banners on YouTube will be easier to get done, and radio ads are easier to get with $$$ I imagine.


But if a 3rd Party gets $$$, I don't see why a ABC or a ESPN or whatever wouldn't take it and run ads in the slot requested.

if the Libertarian Party ran ads somehow on FOX NEWS, Fox would put them on during the breaks on Red Eye. And on a Saturday episode at that.

And with what you are saying.....you are hitting an audience that historically doesn't really vote. They get all excited, and bellow away on the internet, etc.....but when the time to vote comes????? They just haven't changed all that much over the past few Presidential elections....they are loud in the campaign, but actually pretty quiet in the voting booth.

[Handsome Rob]

More regulatory idiocy from Washington (big surprise!):

Perform Criminal Background Checks at Your Peril

http://online.wsj.com/article/SB1000...ctions_opinion

Should it be a federal crime for businesses to refuse to hire ex-convicts? Yes, according to the Equal Employment Opportunity Commission, which recently released 20,000 convoluted words of regulatory "guidance" to direct businesses to hire more felons and other ex-offenders.

Why, you ask? Because, according to the EEOC:

"criminal record exclusions have a disparate impact based on race and national origin."

And yet . . .

As Todd McCracken of the National Small Business Association recently warned: "State and federal courts will allow potentially devastating tort lawsuits against businesses that hire felons who commit crimes at the workplace or in customers' homes. Yet the EEOC is threatening to launch lawsuits if they do not hire those same felons."

So, the EEOC doesn't want you running background checks on minorities for criminal records, and yet if you don't, you could become legally liable should that employee with a criminal history commit a crime.

Ain't life grand in the world of regulatory paradise? Gee, I wish government would regulate us into more awesomeness!!!

Oh, and remember that 20,000-page regulatory "guidance?" Yeah, it's going to cost businesses money to make sure they are in compliance with it.

And this?

If a background check discloses a criminal offense, the EEOC expects a company to do an intricate "individualized assessment" that will somehow prove that it has a "business necessity" not to hire the ex-offender (or that his offense disqualifies him for a specific job). Former EEOC General Counsel Donald Livingston, in testimony in December to the U.S. Commission on Civil Rights, warned that employers could be considered guilty of "race discrimination if they choose law abiding applicants over applicants with criminal convictions" unless they conduct a comprehensive analysis of the ex-offender's recent life history.

Yeah, that "individualized assessment" is going to cost time and money to comply with, as well.

Despite what the regulation fanboys may want to believe, that money doesn't grow on special trees that cause no impact on the business whatsoever. Nope, this is just more money lost that could be put toward expanding business, hiring, or even just spending it into the local economy by the business owner.

[Marvolo]

Found this informative video on the Debt Limit. I learned some new stuff, and thought others might too. Oh, and now I have even more reason to despise congress. Woohoo!

Debt Limit Explained in Under 4 Minutes

VIDEO-CLick to Watch!:

[Handsome Rob]

From the New York Times in 1987. I'm completely surprised that the Gray Hag ever put something out like this in my lifetime:

The Right Minimum Wage: $0.00

http://www.nytimes.com/1987/01/14/op...ted=all&src=pm

If a higher minimum means fewer jobs, why does it remain on the agenda of some liberals? A higher minimum would undoubtedly raise the living standard of the majority of low-wage workers who could keep their jobs. That gain, it is argued, would justify the sacrifice of the minority who became unemployable. The argument isn't convincing. Those at greatest risk from a higher minimum would be young, poor workers, who already face formidable barriers to getting and keeping jobs. Indeed, President Reagan has proposed a lower minimum wage just to improve their chances of finding work . . . The idea of using a minimum wage to overcome poverty is old, honorable - and fundamentally flawed.

They go on to suggest wage supplements, which is a terrible idea but just up their alley. So, I guess you can't expect them to get everything right.