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I cannot believe that you guys pay almost 12% of your salaries into a government-run retirement scheme that's STILL going bankrupt.
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12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio Regum -
Don't get me started. But I've had a change in opinion on that lately.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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It is seriously shocking to me. You socialists never could get your act together when it came to investment decisions.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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You DanSed me. What change of opinion did you have?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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The system we have well and truly sucks. But just imagine the political forces at play if the stock market had been down a full 50% rather than 40%, at the same time that the credit market was imploding.
The inclination would be to try to control the equity markets such that they don't have these large of swings.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Normally I would say that it's pretty easy to design an arms-length enterprise in such a way as to avoid undue political pressure, but after a few years experience in the US, I can see why you guys distrust your government so much.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Those who aren't politically accountable are just as bad as those who are. Bernanke's got no more spine than Paulson.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I'm assuming you're strongly against the bailout package?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Yes, I am. However, I realize that the value in equities dwarfs the present bailout package. My conclusions therefore are (1) it's not that big in the grand scheme of things; and (2) it would have been much larger if the retirements on the low end of the income spectrum were tied closely to the equity markets.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Do you view the bailout package as a giveaway from taxpayers to banks or do you view it as something which has positive expected value for both taxpayers and banks?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Considering that my room and board is ~14k, I think that Aeson's 6k gives him ~20k which is what I make a year.
JMJon Miller-
I AM.CANADIAN
GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.Comment
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If it's the second, is your objection moral hazard?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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He doesn't count food in his 6k$.Originally posted by DanS
Food is a much larger proportion of the $6k income than the $120k income.
JMJon Miller-
I AM.CANADIAN
GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.Comment
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In the short term, it is both. But in the long term, there's no such thing as a free lunch. Over the long term, it has a negative expected value for both taxpayers and banks (for various reasons).Originally posted by KrazyHorse
Do you view the bailout package as a giveaway from taxpayers to banks or do you view it as something which has positive expected value for both taxpayers and banks?I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Why not? The US Fed. Gov't is able to absorb larger amounts of risk than individual private enterprises are. If the bailout is engineered correctly (big IF) then why can't they leverage that capacity to both unclog markets and turn a profit?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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