Jump to content


Registered User

Activity Wall

  • perseus29 last visited:
  • 233


  • 0


  • 3,755


  • 0


  • 0


  1. perseus29

    Should the Federal Government Bail out the Banks?

    from noblel price winner economis joseph stiglitz http://www.guardian.co.uk/commentisfree/2008/oct/01/useconomy.congress The very assumption that the rescue plan has to help is suspect. After all, the IMF and US treasury bail-outs for Wall Street 10 years ago in Korea, Thailand, Indonesia, Brazil, Russia and Argentina didn't work for those countries, although it did enable Wall Street to get back most of its money. The taxpayers in these other poor countries picked up the tab for the financial markets' mistakes. This time, it is American taxpayers who are being asked to pick up the tab. And that's the difference. For all the rhetoric about democracy and good governance, the citizens in those countries didn't really get a chance to vote on the bail-outs. Had they, most would have suffered the same fortune as Paulson's.
  2. perseus29

    Should the Federal Government Bail out the Banks?

    In simple terms, the bailout will lead to hyperinflation which of course is not good; either way, we are off to nice times ahead! :smokin::smokin: http://www.investopedia.com/terms/h/hyperinflation.asp Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is a situation where the price increases are so out of control that the concept of inflation is meaningless. When associated with depressions, hyperinflation often occurs when there is a large increase in the money supply not supported by gross domestic product (GDP) growth, resulting in an imbalance in the supply and demand for the money. Left unchecked this causes prices to increase, as the currency loses its value. Peter schiff nicely summarizes what does the bail out mean: http://www.europac.net/externalframeset.asp?from=home&id=14136 The urgency for passing this bailout bill is based on the claim that the American economy will collapse if nothing is done. If the government were to stay out, and allow the market to function, there will certainly be a great deal of economic pain. Companies will go bankrupt, banks will fail, real estate and stock prices will keep falling, and many people will lose their jobs. However, government action will not prevent any of this. At best, it will merely delay the inevitable, but only at the cost of increasing the severity of the underlying problems, thus making their ultimate resolution that much more painful to endure. The bottom line is that there is no way to resolve our economic problems without a severe recession, and our politicians need to level with the public. As a nation, we gambled on the alluring riches of real estate and we lost. The price must be paid. Contrary to the Bush Administration rhetoric, the fundamentals of our economy are not sound. If they were, we would not be in this mess. Recessions are meant to restore balance, purge excess, and liquidate mal-investments. On that score we have a lot of work to do. And finally from Ron Paul: http://www.ronpaul.com/2008-09-25/ron-paul-my-answer-to-the-president/ F.A. Hayek won the Nobel Prize for showing how central banks' manipulation of interest rates creates the boom-bust cycle with which we are sadly familiar. In 1932, in the depths of the Great Depression, he described the foolish policies being pursued in his day - and which are being proposed, just as destructively, in our own: Instead of furthering the inevitable liquidation of the maladjustments brought about by the boom during the last three years, all conceivable means have been used to prevent that readjustment from taking place; and one of these means, which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion. To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection - a procedure that can only lead to a much more severe crisis as soon as the credit expansion comes to an end... It is probably to this experiment, together with the attempts to prevent liquidation once the crisis had come, that we owe the exceptional severity and duration of the depression.
  3. :coollook: http://www.nysun.com/national/palin-only-flag-in-my-office-is-israeli/86671 PALIN: 'ONLY FLAG IN MY OFFICE' IS ISRAELI President Peres of Israel yesterday met for the first time with Governor Palin and with Senator McCain, who called the veteran Israeli statesman "my old friend." The warm handshake and exchange of broad smiles occurred during an international gathering known as the Clinton Global Initiative, hosted by President Clinton. "I wanted to meet you for many years," Ms. Palin told Mr. Peres, according to an aide to the president. "The only flag at my office is an Israeli flag," she was quoted as saying, "and I want you to know and I want Israelis to know that I am a friend."
  4. What's interesting to note is that if Obama and Biden were for real change---then why agree to these changes in the debate? This should have been their opportunity to completely knock out Mccain and Palin and maybe come out after them saying that since they can't debate, they were looking for the easy way out; instead, they readily agreed without no complaints. Seems to me these politicians are bought and paid for and they got no real power.
  5. http://www.nytimes.com/2008/09/21/us/politics/21debate.html?_r=2&hp&oref=slogin&oref=slogin The Obama and McCain campaigns have agreed to an unusual free-flowing format for the three televised presidential debates, which begin Friday, but the McCain camp fought for and won a much more structured approach for the questioning at the vice-presidential debate, advisers to both campaigns said Saturday. At the insistence of the McCain campaign, the Oct. 2 debate between the Republican nominee for vice president, Gov. Sarah Palin, and her Democratic rival, Senator Joseph R. Biden Jr., will have shorter question-and-answer segments than those for the presidential nominees, the advisers said. There will also be much less opportunity for free-wheeling, direct exchanges between the running mates. McCain advisers said they had been concerned that a loose format could leave Ms. Palin, a relatively inexperienced debater, at a disadvantage and largely on the defensive. The wrangling was chiefly between the McCain-Palin camp and the nonpartisan Commission on Presidential Debates, which is sponsoring the forums. Commission members wanted a relaxed format that included time for unpredictable questioning and challenges between the two vice-presidential candidates. On Wednesday, the commission unanimously rejected a proposal sought by advisers to Ms. Palin and Senator John McCain of Arizona, the Republican presidential nominee, to have the moderator ask questions and the candidates answer, with no time for unfettered exchanges. Advisers to Mr. Biden say they were comfortable with either format. Both campaigns see the four debates as pivotal moments in a presidential race that is not only extraordinarily close but also drawing intense interest from voters; roughly 40 million viewers watched the major speeches at the two parties' conventions. The upheaval in the financial markets has recast the race in recent days, moreover, which both sides believe will only heighten attention for the debates.
  6. :smokin: http://www.digitaljournal.com/article/246295 They were planning to start a new life in a new country but Rowan Trezise, age 33, has been told by the government of New Zealand that she and her husband may have to look elsewhere for a place to live, because she is too fat to be allowed into the country. Although both husband and wife were too fat for admittance when they first applied Mr. Trezise, a submarine cable specialist who was once a member of the British Army, has managed to shed two inches from his waistline thereby meeting the standards set for a work visa. Mrs. Trezise however has not met the goal set for her and is therefore barred. The couple were informed that New Zealand bars overweight people because of the potential burden they pose to the national health care system. According to New Zealand Robyn Toomath, spokesman of "Fight the Obesity Epidemic" a New Zealand organization dealing with the problems posed by overweight people: "The immigration department can't afford to import people who are going to be a significant drain on our health resources. "You can see the logic in assessing if there is a significant health cost associated with this individual and that would be a reason for them not coming in."
  7. To think of it, this would be bad publicity for the illegal alien cause, so best not to make much fuss about it. I believe 2 border patrol agents went to prison for shooting at a drug smuggler.....of course, if the mexican military shot the border patrol agent, the border patrol agent would be the one found guilty for having disrupted the mexican military operations. :smokin: Now, back to fighting terrorism, military checkpoints, naked body scans at airports, protest free zones, and tasering. Nothing going on. :specs:
  8. Don't worry...they were just saying hi :smokin: http://washingtontimes.com/news/2008/aug/06/soldiers-cross-into-us-hold-guns-to-agent/ A U.S. Border Patrol agent was held at gunpoint Sunday night by members of the Mexican military who had crossed the border into Arizona, but the soldiers returned to Mexico without incident when backup agents responded to assist. Agents assigned to the Border Patrol station at Ajo, Ariz., said the Mexican soldiers crossed the international border in an isolated area about 100 miles southwest of Tucson and pointed rifles at the agent, who was not identified. It was unclear what the soldiers were doing in the United States, but U.S. law enforcement authorities have long said that current and former Mexican military personnel have been hired to protect drug and migrant smugglers. "Unfortunately, this sort of behavior by Mexican military personnel has been going on for years," union Local 2544 of the National Border Patrol Council (NBPC) said on its Web page. "They are never held accountable, and the United States government will undoubtedly brush this off as another case of 'Oh well, they didn't know they were in the United States.'
  9. Well, this is how nations lose their sovereignty. http://www.tennessean.com/apps/pbcs.dll/article?AID=/20080802/BUSINESS01/808020330 -- Workers at the Tyson Foods poultry processing plant in Shelbyville will no longer have a paid day off on Labor Day but will instead be granted the Muslim holiday Eid al-Fitr. According to a news release from the Retail, Wholesale and Department Store Union, a new five-year contract at the plant included the change to accommodate Muslim workers at the plant. Tyson's director of media relations, Gary Mickelson, said the contract includes eight paid holidays-the same number that were granted under the old contract. Eid al-Fitr-which falls on Oct. 1 this year-marks the end of Ramadan, the Muslim holy month of fasting. Union leaders say implementing the holiday was important for the nearly 700 Muslims, many of them Somalis, who work at the plant, which employs 1,200 people.
  10. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/27/MNH611UUP5.DTL At a recent conference for some of the area's leading neurologists, San Francisco physicist Norbert Schuff captured his colleagues' attention when he presented colorful brain images of U.S. soldiers who had returned from Iraq and Afghanistan and were diagnosed with post-traumatic stress disorder. The yellow areas, Schuff explained during his presentation at the city's Veterans Affairs Medical Center, showed where the hippocampus, which plays major roles in short-term memory and emotions, had atrophied. The red swatches marked hyperfusion - increased blood flow - in the prefrontal cortex, the region responsible for conflict resolution and decision-making. Compared with a soldier without the affliction, the PTSD brain had lost 5 to 10 percent of its gray matter volume, indicating yet more neuron damage. Schuff, who was dressed in a Hawaiian shirt just as colorful as the brain images he'd brought, reminded his colleagues that while his findings were preliminary and the trials ongoing, researchers were at least inching closer to finding the biological markers that distinguish a brain affected by PTSD. As the technology of brain imaging improves and the resulting data are refined, doctors believe that one day they will be able to look at a computer screen and see PTSD as clearly as they now see a brain tumor. "But we're still in the infancy of neuroimaging," Schuff cautioned later in his office. "Do you get PTSD because you have a small hippocampus? Or does a small hippocampus mean you'll develop PTSD? That, we still don't know." Schuff's research is at the forefront of a bold push by the Department of Defense to address PTSD, the psychological disorder that will haunt an estimated 30 percent of the veterans returning from the current two wars, according to the Pentagon. Forty thousand veterans from Iraq and Afghanistan, Pentagon officials say, have already been diagnosed with PTSD, which is defined as an anxiety disorder triggered by exposure to traumatic events; symptoms can include nightmares, flashbacks and panic attacks. Left untreated, clinicians say, patients with PTSD are more likely to engage in anti-social behaviors such as alcohol and drug abuse. The disorder, neurologists are now learning, can also lead to long-term maladies, such as Alzheimer's and dementia.
  11. http://www.telegraph.co.uk/news/newstopics/howaboutthat/2445799/Identical-twins-marry%2C-give-birth-to-identical-twins.html When identical twin sisters Diane and Darlene Nettemeier met identical twin brothers Craig and Mark Sanders a decade ago, they could never have guessed just how much of their lives would be based around perfect sets of two. The sets of twins, from Texas, fell in love, went on a double date to Las Vegas, and won thousands of dollars at poker. Sensing they were on a winning streak, they got engaged on the same day, married at a joint ceremony (officially "quarternary marriages"), and built a pair of homes, side by side. Soon afterwards, despite a million-to-one odds, Diane and Craig went on to have identical twins of their own - Colby and Brady, now seven
  12. perseus29

    Can a President keep these promises?

    So are you saying that because of the iraq war other terrorist acts have been prevented?
  13. perseus29

    Thankful for the FDIC

    Sometimes I wonder if they are holding on to let the real fun begin after the elections...Financial collapse will come, is just a question of when.
  14. That's quite an oxymoron....honest/efficient/transparent and government hehehehe :D
  15. perseus29

    Supreme Court overturns DC gun ban

    http://hosted.ap.org/dynamic/stories/G/GUN_DEATHS_SUICIDE?SITE=DCUSN&SECTION=HOME&TEMPLATE=DEFAULT Surprising fact: Half of gun deaths are suicides ATLANTA (AP) -- The Supreme Court's landmark ruling on gun ownership last week focused on citizens' ability to defend themselves from intruders in their homes. But research shows that surprisingly often, gun owners use the weapons on themselves. Suicides accounted for 55 percent of the nation's nearly 31,000 firearm deaths in 2005, the most recent year for which statistics are available from the Centers for Disease Control and Prevention. There was nothing unique about that year - gun-related suicides have outnumbered firearm homicides and accidents for 20 of the last 25 years. In 2005, homicides accounted for 40 percent of gun deaths. Accidents accounted for 3 percent. The remaining 2 percent included legal killings, such as when police do the shooting, and cases that involve undetermined intent.