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"Change" - Americans' net worth shrinks $1.33 trillion in 1Q

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Postby greeney2 » Thu Jun 11, 2009 10:02 am

The more baby boomers begin to retire, the worse it will get, because of the entitlments being paid out. Mass amounts of the population are in that age group like me, and companies are now trying to get out of these retirment agreements. The State of California is going broke, and we have huge rolls of people in early state retirments with full medical. Evry state employee has insuracne for his family, plus most have early retirment options, and the taxpayers guarentee that. Company retirements are not totally protected.
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Postby shadowfx » Thu Jun 11, 2009 10:08 am

Ok in that case. Sorry Greeney we are collectively cancelling your retirement.
Instead you will be sent to a retraining camp and put to good use for the rest of your viable working years. After that... well... we'll give you 1 acre in the remote nevada desert and you can try to sustain yourself there.
This will now be in effect for anyone that chooses to retire. So we urge you to stay working.
For those that just don't work, never have and don't plan to. Please don't worry, the rest of us will still support you.



Sorry, had to make an example of you greeney. ;)
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Postby greeney2 » Thu Jun 11, 2009 10:24 am

We are all in the same boat, and the CEO's are steering it. Between Company CEO's, State and Federal governement, Doctors Lawyers, and they are making it impossible for people to retire. Take away all the balances of 401K's, collapse the housing markets and equity, and SS going broke, out of control medical costs, what is left, and who is still on the top of the heep? Not much is left and those controling those things are still on the top.
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Postby pandasex » Thu Jun 11, 2009 10:25 am

shadowfx wrote:Ok in that case. Sorry Greeney we are collectively cancelling your retirement.
Instead you will be sent to a retraining camp and put to good use for the rest of your viable working years. After that... well... we'll give you 1 acre in the remote nevada desert and you can try to sustain yourself there.
This will now be in effect for anyone that chooses to retire. So we urge you to stay working.
For those that just don't work, never have and don't plan to. Please don't worry, the rest of us will still support you.



Sorry, had to make an example of you greeney. ;)




ohhhh no thats my mother F ing acre 8-) 8-) 8-) 8-) 8-)
BURNING MAN, burning man, BuRnInG mAn,
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Postby Lashmar » Thu Jun 11, 2009 10:50 am

greeney2 wrote:The more baby boomers begin to retire, the worse it will get, because of the entitlments being paid out.


I’ve never thought of that being a side effect of the baby boom to be honest. :oops:
Read between the lies
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Postby Cole_Trickle » Thu Jun 11, 2009 1:50 pm

" CHANGE " :lol: :lol: :lol: LI'L OBVIOUS don't ya think! ;)

Shall I run a schedule and post the numbers from Q-4 of 08? Hun~~do you really wanna kick this can?

The majority of the monies lost ( less housing values ) a sketchy number at best! are due to PPS loss across the board. GM's bk cost the Indiana Teachers pension fund millions, Chrysler~~someone close to me told me the same pension fund took a 40,000,000~~million dollar hit. Those are just two of many.

I've posted about this until blue in the face: " IT WAS/IS A SCAM " " Bush played his role and now Obama has the ball and is continuing on as " BUSINESS AS USUAL " He doesn't know jack and neither does anyone else on the HILL~~~So let's call a spade a spade.

HERE: Enjoy!

http://www.breitbart.tv/html/359043.html

Better yet~~WHAT DID I TELL YOU GUYS ABOUT THE CAR BUSINESS?? :lol: :lol: :lol:

“I don’t know anything about cars,” Whitacre, 67, said yesterday in an interview after his appointment. “A business is a business, and I think I can learn about cars. I’m not that old, and I think the business principles are the same.”


Give me a freaking break!~~ :roll: :roll: :roll:

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A business is a business~~~WT FLYING F.

http://www.bloomberg.com/apps/news?pid= ... ._YJhEj_Jo

Cole

PS. Change. :lol: :lol: :lol: Good thing or it would have been far far worse under the old, ah~~I'll say " SYSTEM " :lol:

The Federal Reserve reported Thursday that household net worth declined $1.3 trillion during the first quarter as home values and stock prices continued to decline. Household net worth plunged nearly $5 trillion during the fourth quarter.

Since mid-2007, household net worth has plummeted by $14 trillion, or 21.7 percent. Such a decline is unprecedented since the Federal Reserve began compiling the data in 1952. Household net worth now stands at $50.4 trillion, less than its value during the fourth quarter of 2004.


You're friendly " FAIR AND BALANCED " watch dawg!! :lol: :lol: :lol: Nothing personal, just call this sh*t what it really is~~~sh*t! :twisted:

http://washingtontimes.com/news/2009/ju ... _headlines

All of this SPIN~~That for some ridiculous reason SOMEONE wants to make PEOPLE believe is a result of " The New Kid on The Block " is actually a direct result of GOP Policy and the raping of the system.
Last edited by Cole_Trickle on Fri Jun 12, 2009 5:22 am, edited 1 time in total.
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Postby Cole_Trickle » Thu Jun 11, 2009 2:02 pm

FOLLOW UP: Please read carefully:



By Ronald D. Orol, MarketWatch

WASHINGTON (MarketWatch) -- Bank of America Corp. Chief Executive Kenneth Lewis told lawmakers on Thursday that government officials pressed him to buy Merrill Lynch & Co. after he became aware of major losses at the investment bank.

However, lawmakers blasted Lewis for neglecting to meet government disclosure rules by failing to provide information to shareholders about widening losses at the mega-bank's acquisition target in November, before investors voted on the deal in December.

"Did Paulson and Bernanke abuse their authority by ordering Mr. Lewis to go through with the Merrill acquisition, or did Mr. Lewis threaten to back out in order to squeeze more money out of the Federal government?" asked Oversight and Government Reform Committee Chairman Edolphus Towns, D-N.Y.

House Oversight and Investigations subcommittee Chairman Dennis Kucinich, D-Ohio, said the panel's investigation found that the Fed believed Lewis knew about expanding and substantial losses at Merrill Lynch in November and did nothing to alert shareholders to the problem before they approved the transaction the following month.

"You must have known about the accelerating losses much earlier, when your shareholders could have voted to oppose the deal," Kucinich said.

Kucinich referred to an email from Federal Reserve Chairman Ben Bernanke on Dec. 22 to the agency staff indicating that Lewis was pressing the agency to "use as a defense" against shareholder lawsuits that the government ordered him to consummate the deal for systemic reasons. In the email Bernanke said no.

The Charlotte, N.C.-based Bank of America /quotes/comstock/13*!bac/quotes/nls/bac (BAC 12.97, -0.01, -0.08%) , closed its deal to acquire Merrill Lynch on Jan. 1, after the government agreed to a $138 billion aide package to help Bank of America complete the acquisition.

Officials at the committee expect Bernanke and former Treasury Chairman Henry Paulson to testify at a subsequent hearing on the acquisition.

Nevertheless, other emails and comments from Lewis show that Treasury and Federal Reserve officials pressed him to complete the acquisition. Lewis said he approached Treasury and Fed officials in mid-December, after shareholders had approved the transaction but it had yet to close, to discuss the idea of breaking up the deal because he had "concerns about it."

Lewis said that Federal Reserve and Treasury officials asked him to "delay any such action, and expressed significant concerns about the systemic consequences and risk to Bank of America of pursuing such a course."


Wait until Paulson goes before the committee! Hate to say I told ya so, but hey~~~

http://www.marketwatch.com/story/lewis- ... l-break-up

Cole
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Postby Cole_Trickle » Thu Jun 11, 2009 3:25 pm

One more thing:

2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy

Thursday 11th June, 06:18 AM JST

ROME —

Two Japanese nationals were detained by Italian financial police last week after trying to enter Switzerland with $134 billion worth of undeclared U.S. bonds, mostly Treasury bonds, an Italian daily said Wednesday. The Japanese consulate general in Milan confirmed that the detention had taken place and said it was trying to confirm with Italian authorities whether the two were indeed Japanese nationals and their identities.

According to the report in il Giornale, two unidentified Japanese in their 50s concealed the bonds, including 249 U.S. Treasury bonds each worth $500 million, in a suitcase with a false bottom that was searched by the Italian authorities June 3 when they were in Chiasso, at the border with Switzerland, about 50 kilometers north of Milan. The daily did not say on what charges they have been detained, but the two may have been detained on suspicion of attempting to take a large amount of securities out of Italy without declaring it because the paper said they had not declared the bonds.


That's billions, in a suitcase~~any idea the amounts of real dollars we're actually talking about? Is this real or is it memorex? :lol: :lol:

http://www.japantoday.com/category/crim ... d-in-italy

Cole
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Postby Tairaa » Fri Jun 12, 2009 10:05 am

For those that just don't work, never have and don't plan to. Please don't worry, the rest of us will still support you.

:lol: :lol:

I HATE that!

This is one aspect where the hunter gatherer systems works SO much better, if you don't hunt/gather you die! Viola! Problem solved, immediately!

Whereas here if you don't work, you get a house and money from the government, you get to reproduce LOTS and teach your kids the same principles. "Why work when others will give you money for doing nothing?"
"George Bush says he speaks to god every day, and christians love him for it. If George Bush said he spoke to god through his hair dryer, they would think he was mad. I fail to see how the addition of a hair dryer makes it any more absurd."
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Postby rath » Mon Jun 15, 2009 12:20 am

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Last edited by rath on Thu Jan 24, 2013 1:13 pm, edited 1 time in total.
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