Financial Crisis

[Naam]

Guaranteed $20K income for all Canadians endorsed by academics

= financial crisis!

Billionaire business magnate Mark Cuban is warning that higher education is on a course to melt down

= financial crisis!

[midas]

Where there is risk, there is profit. The investment portfolio managers running pension money are mostly a lot better at it then people trying to make it on their own in a self directed investment plans. They don't bail out at the bottom of market declines because they are in it for the long term and make investment decisions with that in mind. Re-balancing investment portfolios to a proper strategic asset allocation goal keeps them raking in the profits for the long term as money rotates to the latest fad. What hurts some of these plans are lack of controls on benefits like no caps on annuities, gaming overtime pay to inflate earnings during final years of employment used as a basis for annuity calculations, etc.

" What hurts some of these plans are lack of controls "

Meet Janet Cowell – The North Carolina Treasurer Desperately Pushing to Keep Criminal Public Pension Fees Secret

Can this be right? What kind of criminal moron risks $1.8 billion to keep details about how a public pension operates secret?

the State Employees Association in North Carolina has helped introduce a bill to require more disclosure about deals with Wall Street firms hired to manage alternatives to stocks and bonds. Seems reasonable enough, right? After all, this is a public pension.

So how does Janet Cowell, the North Carolina Treasurer who controls the $87 billion pension react? Naturally, she throws her support behind a bill that would conceal details for five years after a contract is completed. Why five years you ask? Well, the employees association’s general counsel, Tom Harris, notes that “the five-year period of secrecy the treasurer supports would mean the statute of limitations for securities fraud claims would expire before documents are made public.”

http://www.bloomberg.com/news/2014-06-26/secrecy-in-pensions-triggers-legislative-brawl-in-north-carolina.html

[SheungWan]

Nick Hanauer is a billionaire so I find it interesting that he is warning his fellow American citizens like this......

And so I have a message for my fellow filthy rich, for all of us who live in our gated bubble worlds: Wake up, people. It won’t last.

And here is another billionaire Mark Cuban warning about the looming meltdown in US college education.

Billionaire business magnate Mark Cuban is warning that higher education is on a course to melt down, just as the housing market did in 2008. The similarities between the housing bust and the coming higher education bust are eerie, Cuban states.

http://findonlineeducation.com/follow/mark-cuban-meltdown-in-college-education-is-coming-and-online-ed-is-the-answer/

Those were the days: Turn On, Tune In, Drop Out.

[lannarebirth]

Guaranteed $20K income for all Canadians endorsed by academics

= financial crisis!

Billionaire business magnate Mark Cuban is warning that higher education is on a course to melt down

= financial crisis!

Never fear. I've been giving higher education coffers a substantial prop up of late.

Edited July 2, 2014 by lannarebirth

[midas]

if 70% of USA GDP is based on consumption ……..see this………………………………..

Complete List and number of U.S. Retailers Closing Stores, Going, Bankrupt, and Going Out of Business in 2014:

370 Family Dollar

365 Coldwater Creek

360 Dots

300 Blockbuster

300 Sears

225 Staples (through 2015)

223 Barnes & Noble (through 2023)

200 Radio Shack (through 2017)

180 Abercrombie & Fitch (by 2015)

175 Aeropostale

170 Jones Group (by mid-2014 )

155 Sbarro

150 American Eagle Outfitters

150 Rent-A-Center

145 Brown Shoes / Famous Footwear

128 GameStop

125 Children’s Place

125 P.S. from Aeropostale

100 Advance Auto

91 Blockbuster

76 EE

76 Walgreens

75 7-Eleven

74 McDonald’s

73 Liquidation World

70 Coach (fiscal 2015)

70 Juicy Couture

63 Build-A-Bear (through 2014)

60 Aaron’s

55 Sprint

50 Express (through 2015)

50 Kitchen Collection

42 Edwin Watts Golf

42 Fresh & Green’s

39 Loehman’s

33 Archiver’s

33 JCPenney

26 Albertson’s

26 Wet Seal

25 Build-A-Bear (through 2015)

25 Yankee One Dollar Stores

22 Homemade Pizza Co.

20 Barnes & Noble

20 Delhaize

20 Gilly Hicks

20 SONY

18 ALCO

17 Cato

16 2b (bebe)

15 Office Depot

12 Target

11 American TV & Appliance

8 Long John Silver’s

7 Noni B

7 OfficeMax

7 Rite Aid

6 Cord Camera

5 Bi-Lo

5 Macy’s

5 Mattress Source

4 Jack in the Box

4 Len Druskin

4 Meat House

4 Sprint Gas Stations

3 Ace Hardware

3 ACO Hardware

3 Books-A-Million

3 Carls Furniture

3 Champps Americana

3 Williams-Sonoma

2 Arden B

2 Best Buy

2 Book World

2 Design Spree

​2 Dickey’s Barbecue Pit

2 Finger Furniture

2 Haverty’s

2 JMR Chalk Garden

2 Kroger

2 Lolabella Boutique

2 My Favorite Toy Store

2 Nordstrom

2 Piggly Wiggly

2 Powell’s Books

2 Rainbow Foods

and see this ………………………………………..

Edited July 3, 2014 by midas

[cheeryble]

Utterly shocked to hear

Walgreens

Sears

McDonalds

7/11

Etc are going out of business

Surprised that two booksellers, a camera seller, and video store might close stores too just how could that possibly happen?

ps you have Blockbuster twice at least that's one less perhaps we'll survive.

Sent from my iPad using ThaiVisa app

Edited July 3, 2014 by cheeryble

[cheeryble]

DOES NOT COMPUTE

DOES NOT COMPUTE

Sent from my iPad using ThaiVisa app

[spidermike007]

The banking bailout was one of the greatest acts of cowardice perpetrated by modern men. Obama committed an abomination when he went along with it, without asking for any risk on the part of the banks. No risks, no concessions, nothing. The banking lobbyists basically said we need an unlimited amount of money, payable at little or no interest, for as long as we want, without any strings attached. And Obama, and his weakling Geitner, basically said, OK no problem. You can have whatever you want. The entire corporate mindset has changed since then. Service departments are being eradicated, pensions are being eliminated, health plans are out the window. The very idea of the company you have devoted your life to, looking after you is history. The middle class is being decimated, and the rich are getting much richer, as a result. I recently read an article stating that Australia is on the verge of financial collapse. One of the few remaining economies that has been relatively unaffected by all this, due to the mineral boom. Where does that leave the rest of us? How long until the average Joe stands up and says enough?

Spidermike

Chaiyaphum, Thailand

Sent from my iPad using Thaivisa Connect Thailand mobile app

[spidermike007]

Utterly shocked to hear

Walgreens

Sears

McDonalds

7/11

Etc are going out of business

Surprised that two booksellers, a camera seller, and video store might close stores too just how could that possibly happen?

ps you have Blockbuster twice at least that's one less perhaps we'll survive.

Sent from my iPad using ThaiVisa app

The news about 7/11 is a little hard to believe. With 6800 stores in Thailand alone? And McDonalds? Not in our lifetime.

Spidermike

Chaiyaphum, Thailand

Sent from my iPad using Thaivisa Connect Thailand mobile app

[cheeryble]

The banking bailout was one of the greatest acts of cowardice perpetrated by modern men. Obama committed an abomination when he went along with it, without asking for any risk on the part of the banks. No risks, no concessions, nothing. The banking lobbyists basically said we need an unlimited amount of money, payable at little or no interest, for as long as we want, without any strings attached. And Obama, and his weakling Geitner, basically said, OK no problem. You can have whatever you want. The entire corporate mindset has changed since then. Service departments are being eradicated, pensions are being eliminated, health plans are out the window. The very idea of the company you have devoted your life to, looking after you is history. The middle class is being decimated, and the rich are getting much richer, as a result. I recently read an article stating that Australia is on the verge of financial collapse. One of the few remaining economies that has been relatively unaffected by all this, due to the mineral boom. Where does that leave the rest of us? How long until the average Joe stands up and says enough?

Spidermike

Chaiyaphum, Thailand

Sent from my iPad using Thaivisa Connect Thailand mobile app

Hi Mike I disagree.

In fact some of those banks were trying desperately NOT to take government money.....and remember that money eventually came back with profit.

I think Paulson and Geithner cannot be blamed for doing the bailout which was the very very urgent response and possibly saved the danger of something much worse.

Nor can Obama be blamed for enacting those economists desperate advice (he's a lawyer, remember).

It may be argued but the big indicators show that generally their actions worked in their intentions.

The blame should go on oversight of the whole system which led to the defaults.

Sent from my iPad using ThaiVisa app

Edited July 3, 2014 by cheeryble

[Naam]

It would further give the government powers to dictate to gas companies to whom they should sell their gas and at what price.

which, should the Ukraine invoke that law, would cause a huge financial global crisis... according to resident eggsburts.

metropolitan areas such as Nakhon Nowhere in Thailand and Pussygasaki in southern Japan would suffer exponential damage.

[mccw]

Above should read "west's new best mate....."

[mccw]

It would further give the government powers to dictate to gas companies to whom they should sell their gas and at what price.

which, should the Ukraine invoke that law, would cause a huge financial global crisis... according to resident eggsburts.

metropolitan areas such as Nakhon Nowhere in Thailand and Pussygasaki in southern Japan would suffer exponential damage.

At the very least it could mean an expensive and/ or chilly winter for those poor pensioners still stuck in blighty and never had the pleasure of a trip to sunny nakorn

Never mind the effects of high energy prices on the economy of delicate euro zone countries.

Depends how bad they let it go but the trans-Ukrainian gas is a large part of EU energy supply.

Instability in energy from Middle East at the same time- potential is there for large effects.

But really I just found it funny that the west's new best pal is publicly saying he will order the theft of gas- the EUs gas; the very people who supported him in to office.

[mccw]

It would further give the government powers to dictate to gas companies to whom they should sell their gas and at what price.

which, should the Ukraine invoke that law, would cause a huge financial global crisis... according to resident eggsburts.

metropolitan areas such as Nakhon Nowhere in Thailand and Pussygasaki in southern Japan would suffer exponential damage.

At the very least it could mean an expensive and/ or chilly winter for those poor pensioners still stuck in blighty and never had the pleasure of a trip to sunny nakorn

Never mind the effects of high energy prices on the economy of delicate euro zone countries.

Depends how bad they let it go but the trans-Ukrainian gas is a large part of EU energy supply.

Instability in energy from Middle East at the same time- potential is there for large effects.

But really I just found it funny that the west's new best pal is publicly saying he will order the theft of gas- the EUs gas; the very people who supported him in to office.

[Naam]

It would further give the government powers to dictate to gas companies to whom they should sell their gas and at what price.

which, should the Ukraine invoke that law, would cause a huge financial global crisis... according to resident eggsburts.

metropolitan areas such as Nakhon Nowhere in Thailand and Pussygasaki in southern Japan would suffer exponential damage.

At the very least it could mean an expensive and/ or chilly winter for those poor pensioners still stuck in blighty and never had the pleasure of a trip to sunny nakorn

Never mind the effects of high energy prices on the economy of delicate euro zone countries.

Depends how bad they let it go but the trans-Ukrainian gas is a large part of EU energy supply.

Instability in energy from Middle East at the same time- potential is there for large effects.

But really I just found it funny that the west's new best pal is publicly saying he will order the theft of gas- the EUs gas; the very people who supported him in to office.

all your points are valid and i fully agree with them (except "high energy prices in EU countries")! if the Ukraine steals gas it does not affect the prices that Gazprom has agreed with other countries and it won't affect the supply to Europe.

but let's not forget the topic of this thread which is "Financial Crisis". we should really concentrate on the big picture and events/developments which might have a global effect.

[SheungWan]

Complete List and number of U.S. Retailers Closing Stores, Going, Bankrupt, and Going Out of Business in 2014:

2 Piggly Wiggly

The downsizing of Piggly Wiggly is deeply upsetting.

[mccw]

It would further give the government powers to dictate to gas companies to whom they should sell their gas and at what price.

which, should the Ukraine invoke that law, would cause a huge financial global crisis... according to resident eggsburts.

metropolitan areas such as Nakhon Nowhere in Thailand and Pussygasaki in southern Japan would suffer exponential damage.

At the very least it could mean an expensive and/ or chilly winter for those poor pensioners still stuck in blighty and never had the pleasure of a trip to sunny nakorn

Never mind the effects of high energy prices on the economy of delicate euro zone countries.

Depends how bad they let it go but the trans-Ukrainian gas is a large part of EU energy supply.

Instability in energy from Middle East at the same time- potential is there for large effects.

But really I just found it funny that the west's new best pal is publicly saying he will order the theft of gas- the EUs gas; the very people who supported him in to office.

all your points are valid and i fully agree with them (except "high energy prices in EU countries")! if the Ukraine steals gas it does not affect the prices that Gazprom has agreed with other countries and it won't affect the supply to Europe.

but let's not forget the topic of this thread which is "Financial Crisis". we should really concentrate on the big picture and events/developments which might have a global effect.

Russia / Gasprom previously said that they coloniser that after pumping the gas to UKrain they have fulfilled the EU contracts and it is up to Ukrain to deliver I til under thier contracts . But the Ukrainians now saying they will not deliver it/ steal it/ not honour the contracts.

So EU consumers will be needing to secure supplies else where. Since the Ukranianian transit supply is limited and so prices would rise would they not? When EU consumer forced to buy in a tightened supply situation, on shorter term contracts, rushed and pressured negotiating position. Most likely suppliers being Qatar, who is sponsoring the Muslim brotherhood, great mates of western international community, but would they not up the price where they see the oppertunity? Other countries in the region who could supply are in the midst of mehrm, so not like much competition.

[Naam]

Russia delivers gas to western Europe via two parallel pipelines that are crossing the Ukraine and a direct one to Germany via Finland and the Baltic Sea. Ukraine's gas company "Naftogaz" is not involved in any deliveries or pricing and there is no such thing like "Ukrainian transit supply is limited" except the portion the Ukraine has and is still stealing and of course it is limited if Gazprom does not route gas through Ukraine because of billions unpaid debt.

-Russia supplies 30% of western Europe's gas demand of 88bm³,
-55bm³ are delivered via the Baltic Sea which can be temporarily boosted to 65bm³,
-33bm³ via Ukraine and Poland.

summary:

forget about Qatar or other sources which can only supply liquified gas that can't be fed into existing grids. moreover, changing suppliers involves a long time of preparation and complicated logistics. last not least, Russia will not leave Europe "high and dry" during next winter!

[mccw]

^ so there is a potential 20mb ish shortfall by your calculations and it is not easy to bring new supply's as you say.

Russia did turn off the gas a few years ago a couple of times didn't they already?

Why do think it can not happen when Ukraine does not pay it's bills, steals the gas, and EU is actively activating Russia with sanctions etc

[Naam]

^ so there is a potential 20mb ish shortfall by your calculations and it is not easy to bring new supply's as you say.

Russia did turn off the gas a few years ago a couple of times didn't they already?

Why do think it can not happen when Ukraine does not pay it's bills, steals the gas, and EU is actively activating Russia with sanctions etc

nothing will happen because it won't happen. the EU will go on lamenting and issuing threats and that's it.

[mccw]

Great logic. Nothing ever happens. Except when it does. We are in the global financial crises thread. Something did happen and another things will happen; it is inevitable; if not this then there will be something else; most likely something nobody is expecting (except perhaps a cunning instigators)

[Naam]

We are in the global financial crises thread.

where since five full years the whiners and whingers are forecasting crisis after crisis "any time from now", not admitting that they missed the investment opportunity of a life time.

[mccw]

I didn't miss it.

Financial crises/ last 5 years is working out great for me.

I just warning that statistically we are getting close to when another one is due. Anyone's guess what causes it- but it's inevitable there will be another down turn.

I am taking steps to be ready- cashing in gains and clearing debt.

[mccw]

In 1776

On-the-job training ruled. Learning was all about apprenticeships back then, according to Paula Fass, a history professor at UC- Berkeley. Blacksmiths, brewers, printers and other tradesmen learned their crafts on the job. Women learned most of their skills--spinning, cooking, sewing, at home. "In our school-centered obsession we forget that learning used to take place in a much more broad-based way,"says Fass.

Only white men were formally educated. While some white men never received much formal education, almost nobody else received any. Girls were sometimes educated, but they didn’t go to college. Blacks were mostly forbidden to learn to read and write, and Native Americans were not part of the colonial education system. They relied mainly on oral histories to pass down lessons and traditions.

- a little but from biz insider app story

How well off everybody in west is today

A bit of perspective

[mccw]

?

[JesseFrank]

We are in the global financial crises thread.

where since five full years the whiners and whingers are forecasting crisis after crisis "any time from now", not admitting that they missed the investment opportunity of a life time.

Maybe you can remind us what happened in the 2 years prior to those 5 years.

My memory isn't that good anymore, the only thing I remember that I read a lot of advise to buy in 2007 .

[SheungWan]

Great logic. Nothing ever happens. Except when it does. We are in the global financial crises thread. Something did happen and another things will happen; it is inevitable; if not this then there will be something else; most likely something nobody is expecting (except perhaps a cunning instigators)

I am trying to unravel this but I think I will instead abandon ship.

[mccw]

"""

Books were few and far between. There were no public libraries in the country in 1776. The biggest book collections were at colleges. Books were so expensive that getting a large enough collection to provide a serious education was one of the biggest barriers to founding a college. When Harvard was founded in 1636, it had a collection of about 1,000 books, which was considered an enormous amount at the time, according to Paula Fass.

""

A bit more perspective

""

No papers, pens, or pencils. Most students worked on slates--mini-chalkboards that allowed students to erase their work and keep at it until they got it right. Paper was expensive, so it was not commonly used, which also meant pens were not often used. Pencils had not yet been invented.

[Naam]

We are in the global financial crises thread.

where since five full years the whiners and whingers are forecasting crisis after crisis "any time from now", not admitting that they missed the investment opportunity of a life time.

Maybe you can remind us what happened in the 2 years prior to those 5 years.

My memory isn't that good anymore, the only thing I remember that I read a lot of advise to buy in 2007 .

to buy what? what i can tell about the years prior to the crisis years is based on my individual situation and investment strategy respectively asset selection.

in 2004/2005 the fat years investing in emerging markets sovereign debtor bonds fizzled out. no more 15, 20 and more percent but "meager" 8-10% and that from debtor countries with a rating below investment grade vs. a good mix of cash in various currencies yielded 4-5%. EM bond yields kept on falling in 2006 and 2007, single B rated debtors, who had to pay 15% a few years ago, sold bonds (to my utmost dismay) with a 7% yield. therefore i kept on accumulating cash to fulfill an old dream of mine "80% diversified cash and 20% gambling money".

middle of march 2008 we spent a week in Macau and on a friday evening local time the BearSterns bankruptcy surfaced. it was a quite unsettling weekend because i was in with a substantial amount. only a short time later the FED financed with public money the BS take-over by JPMorgan. i did not lose a penny but learned my lesson, cashed in nearly half of my assets and considered myself very lucky on sept 15 when Lehman filed for bankruptcy. the lion share of assets i still held dived >50% in a matter of days but i sold with a loss whenever there were bids. some of my friends held, recovered their losses by 2010/11 but didn't have the cash to go on a cherry picking spree in 2009.

summary: i had to abandon my dream of holding 80% cash

[JesseFrank]

We are in the global financial crises thread.

where since five full years the whiners and whingers are forecasting crisis after crisis "any time from now", not admitting that they missed the investment opportunity of a life time.

Maybe you can remind us what happened in the 2 years prior to those 5 years.

My memory isn't that good anymore, the only thing I remember that I read a lot of advise to buy in 2007 .

to buy what? what i can tell about the years prior to the crisis years is based on my individual situation and investment strategy respectively asset selection.

in 2004/2005 the fat years investing in emerging markets sovereign debtor bonds fizzled out. no more 15, 20 and more percent but "meager" 8-10% and that from debtor countries with a rating below investment grade vs. a good mix of cash in various currencies yielded 4-5%. EM bond yields kept on falling in 2006 and 2007, single B rated debtors, who had to pay 15% a few years ago, sold bonds (to my utmost dismay) with a 7% yield. therefore i kept on accumulating cash to fulfill an old dream of mine "80% diversified cash and 20% gambling money".

middle of march 2008 we spent a week in Macau and on a friday evening local time the BearSterns bankruptcy surfaced. it was a quite unsettling weekend because i was in with a substantial amount. only a short time later the FED financed with public money the BS take-over by JPMorgan. i did not lose a penny but learned my lesson, cashed in nearly half of my assets and considered myself very lucky on sept 15 when Lehman filed for bankruptcy. the lion share of assets i still held dived >50% in a matter of days but i sold with a loss whenever there were bids. some of my friends held, recovered their losses by 2010/11 but didn't have the cash to go on a cherry picking spree in 2009.

summary: i had to abandon my dream of holding 80% cash

And you're confident that the recent history can't repeat itself, this time with less luck for you ?

i did not lose a penny but learned my lesson,

Not so sure about that statement, time will tell I guess.