Investors lose a trillion dollars in one day

[Danzig]

Originally Posted by Clip-Clop

It might be more than most will make, but in major cities in this country where living expenses are very high as well as taxes (property and income) it's just enough to "live comfortably". For me this includes a wife, a home, two cars and two dogs.
There certainly should be a way to help small business out while not burting them under the same rules as large businesses. Smaller ones (like my own) cannot afford to hire teams of accountants to do our books the way they need to be done to not pay double, even triple if you factor in my portion of my employee taxes.

yeah, i know cost of living is a huge factor. that money here would go a lot further than in la, ny or the like. it's why i don't understand the point of having a national minimum wage-what works fine in some areas isn't worth spit in others. also why i think much of what the fed handles should really be done on a state basis-instead of the fed acting as some kind of clearing house for money. they take the money in, and then parcel it back out, with cali being the biggest recipient of medicaid dollars by far, and corresponding high fraud to go along with it.

[Clip-Clop]

Originally Posted by Danzig

yeah, i know cost of living is a huge factor. that money here would go a lot further than in la, ny or the like. it's why i don't understand the point of having a national minimum wage-what works fine in some areas isn't worth spit in others. also why i think much of what the fed handles should really be done on a state basis-instead of the fed acting as some kind of clearing house for money. they take the money in, and then parcel it back out, with cali being the biggest recipient of medicaid dollars by far, and corresponding high fraud to go along with it.

I wish California would go away. States having more control/power over how they operate and compete for resident companies would be a great thing. We moved our outfit to Colorado because it is more business friendly than NJ.

[dellinger63]

Originally Posted by Riot

The truth of it is that Social Security is fine for a long time, years and years, and doesn't need more than a tweek. So laugh away. Especially at those who have been ginned up to believe otherwise, that's it's some disaster about to befall us, or a secret Ponzi scheme doomed to fail. False.

When a fund that is supposed to have $3.6 trillion actually has zero but $3.6 trillion in IOU's from an entity that held only 1 percent of the principal and the only way 'investors' will ever get a return is if 'new investors' are either forced or coerced to pay for that return, there is no secret. It is a Ponzi scheme.

Again not a dime of future SS taxes should be spent on anything but SS benefits. The IOU's should begin being paid off with 'real assets' not special issue promises. Doing this alone would reduce the debt by $3.6 trillion and force DC to control / cut spending while protecting our own.

[Riot]

Originally Posted by dellinger63

When a fund that is supposed to have $3.6 trillion actually has zero but $3.6 trillion in IOU's from an entity that held only 1 percent of the principal and the only way 'investors' will ever get a return is if 'new investors' are either forced or coerced to pay for that return, there is no secret. It is a Ponzi scheme.

So you are banking on the United States of America ceasing to exist. That is the only scenario that will fullfill your wish for Social Security failure.

You really should consider moving to another country, where you would be happier. Rather than trying to dismantle this country. Move where you are not taxed and forced to suffer by taking societal benefits. That would have to be a second or third world country, though. All the remaining AAA countries have socialized medicine or national healthcare available to all, longer vacation hours, earlier retirement, better pensions, goverment loans for small business startup, maternity leave, etc.

The truth is that Social Security will pay out 100% of it's benefits until 2037, and then pay out 78% of benefits if nothing at all is done. But, like the 20 or so previous times we gave already fixed this "OMG a Disaster!", a small tweek will be made.

Social Security is one of the most successful government programs in the world. It has never missed a payment to any beneficiary.

http://www.ssa.gov/oact/progdata/assets.html

The Social Security Trust fund:

Hang Seng -912.22 (-4.85%)
CAC 40 -122.09 (-4.15%)
DAX -198.1 (-3.51%)
FTSE -213.95 (-4.05%)

Should be an interesting day. Don't worry! Bernanke will reprise his role as mother bird and vomit a solution into the bankers mouths.

Dow drops 600 points at one point today? Possible. Futures at -240. That's ridiculously high and the Euro markets are still going down...especially the FTSE.

[geeker2]

not to worry US jobless claims down to 423,000

[MaTH716]

Originally Posted by geeker2

not to worry US jobless claims down to 423,000

It's ok, we are going to build highways and bridges to the moon...................

[geeker2]

Originally Posted by MaTH716

It's ok, we are going to build highways and bridges to the moon...................

We Corporate Jet owners are happy to help. It should be just enough money to buy a few shovels and a couple of port-a-sh*ters.

[Clip-Clop]

Originally Posted by Coach Pants

Dow drops 600 points at one point today? Possible. Futures at -240. That's ridiculously high and the Euro markets are still going down...especially the FTSE.

Won't drop that low, the programs maintain it a little better than that. Though the fear of a 20% tax increase on already taxed moneys does make people nervous...

[jms62]

I see

Support 1 2535-Gone
Support 2 2435
Support 3 2414
Support 4 2385
Last Hope 2330

Monthly MACD turned DOWN this month for first time since Jan 2008.. Market needs to close like Zenyetta over the next week to turn that around.

[jms62]

Originally Posted by jms62

I see

Support 1 2535-Gone
Support 2 2435-Gone
Support 3 2414
Support 4 2385
Last Hope 2330

Monthly MACD turned DOWN this month for first time since Jan 2008.. Market needs to close like Zenyetta over the next week to turn that around.

Bear Market... Good Luck. FWIW I have 0% Long for the first time in 25 years. I rather be safe and wrong then right and broke.

[Calzone Lord]

Originally Posted by jms62

Bear Market... Good Luck. FWIW I have 0% Long for the first time in 25 years. I rather be safe and wrong then right and broke.

I've heard this from like 6 different horse players in the last week.

Doom and gloom in the short term.

Short term? That's funny.