Financial Crisis

[JimGant]

I am just curious........

was this discussed or debated in Congress or Senate?

President Obama signs Executive Order allowing for control over all US resources

Yeah, in 1939. This is just the most recent tweak to the original law.

Again, this is almost identical to EO 12919 from 18 years earlier. Note what this EO specifically orders: identify, assess, be prepared, improve, foster cooperation. None of these items claim authority to seize private property and place them at the personal disposal of Obama.

Why the update? If one takes a look at EO 12919, the big change is in the Cabinet itself. In 1994, we didn’t have a Department of Homeland Security, for instance, and some of these functions would naturally fall to DHS. In EO 12919, the FEMA director had those responsibilities, and the biggest change between the two is the removal of several references to FEMA (ten in all). Otherwise, there aren’t a lot of changes between the two EOs, which looks mainly like boilerplate.

In fact, that’s almost entirely what it is. The original EO dealing with national defense resources preparedness was issued in 1939 (EO 8248) according to the National Archives. It has been superseded a number of times, starting in 1951 by nearly every President through Bill Clinton, and amended twice by George W. Bush.

Barack Obama may be arrogant, and the timing of this release might have looked a little strange, but this is really nothing to worry about at all.

http://hotair.com/ar...grab-or-update/

How can you guys get out of bed in the morning -- knowing the world as we know it will end at any moment? As supported, of course, by carefully selected articles.

Fortunately, the majority of expats over here aren't of the 'doom and gloom' variety, and don't suffer the pessimism that is so pervasive on this thread.

[Naam]

How can you guys get out of bed in the morning -- knowing the world as we know it will end at any moment? As supported, of course, by carefully selected articles.

[flying]

Fortunately, the majority of expats over here aren't of the 'doom and gloom' variety, and don't suffer the pessimism that is so pervasive on this thread.

Well of course it is Thailand.......

You know even with all its corruption there is more actual freedom in Thailand than the USA these days

[midas]

I am just curious........

was this discussed or debated in Congress or Senate?

President Obama signs Executive Order allowing for control over all US resources

Yeah, in 1939. This is just the most recent tweak to the original law.

Again, this is almost identical to EO 12919 from 18 years earlier. Note what this EO specifically orders: identify, assess, be prepared, improve, foster cooperation. None of these items claim authority to seize private property and place them at the personal disposal of Obama.

Why the update? If one takes a look at EO 12919, the big change is in the Cabinet itself. In 1994, we didn’t have a Department of Homeland Security, for instance, and some of these functions would naturally fall to DHS. In EO 12919, the FEMA director had those responsibilities, and the biggest change between the two is the removal of several references to FEMA (ten in all). Otherwise, there aren’t a lot of changes between the two EOs, which looks mainly like boilerplate.

In fact, that’s almost entirely what it is. The original EO dealing with national defense resources preparedness was issued in 1939 (EO 8248) according to the National Archives. It has been superseded a number of times, starting in 1951 by nearly every President through Bill Clinton, and amended twice by George W. Bush.

Barack Obama may be arrogant, and the timing of this release might have looked a little strange, but this is really nothing to worry about at all.

http://hotair.com/ar...grab-or-update/

How can you guys get out of bed in the morning -- knowing the world as we know it will end at any moment? As supported, of course, by carefully selected articles.

Fortunately, the majority of expats over here aren't of the 'doom and gloom' variety, and don't suffer the pessimism that is so pervasive on this thread.

who said anything about the world ending JimGant? The world didn't end in North Korea or Cuba but the people's lives

certainly changed.

[Naam]

who said anything about the world ending JimGant? The world didn't end in North Korea or Cuba but the people's lives certainly changed.

true! the number of whores working ladies in Cuba tripled, their fees were slashed (purchase power wise) in less than half, tourist arrivals quadrupled and the age of the taxis "oct"tupled.

[Naam]

Payouts On Greek CDS Will Be 78.5 Cents On Dollar, Or $2.5B

the mountain went into labour and gave birth to a molehill.

[mccw]

Also Thai topic

[ronz28]

Client's money disappearing again:

http://www.bloomberg.com/news/2012-03-20/arcapita-worldspreads-elpida-humpuss-sea-bankruptcy.html

Never fear MF Global's "administrator" KPMG is on the job again. So where are they when the client's system of financial controls are reviewed before and during the disappearing acts?

[ronz28]

As the financial crisis continues, predators are everywhere. Californation will take your money without due process to fund their deficits regardless of where you now live based on crazy theories.

http://www.zerohedge.com/news/guest-post-predatory-state-california-part-2

[midas]

As the financial crisis continues, predators are everywhere. Californation will take your money without due process to fund their deficits regardless of where you now live based on crazy theories.

http://www.zerohedge...lifornia-part-2

yes but they've got some pretty big pension liabilities and they have to get the money from somewhere

" Former City Administrator Robert Rizzo had been poised to get $650,000 a year from CalPERS and more than $1 million annually overall when a second pension from the city was included. The pension of his assistant, Angela Spaccia, was also reduced from a projected $250,000 "

[ronz28]

As the financial crisis continues, predators are everywhere. Californation will take your money without due process to fund their deficits regardless of where you now live based on crazy theories.

http://www.zerohedge...lifornia-part-2

yes but they've got some pretty big pension liabilities and they have to get the money from somewhere

" Former City Administrator Robert Rizzo had been poised to get $650,000 a year from CalPERS and more than $1 million annually overall when a second pension from the city was included. The pension of his assistant, Angela Spaccia, was also reduced from a projected $250,000 "

Yes, that's old news, but still crazy. Should be a limit to pensions to prevent such abuse of a good pension system.

Biggest problem with underfunded government pensions is from employers who hire actuaries to project future costs yet fail to fund their portion of the expense for the guaranteed future benefit. The employee works for the pension along with his less than competitive so reasonable compensation package at the time and the employer takes his pension contributions and his service, but later tries to steal his benefits due to collecting less than needed fees, and taxes mostly from the elites but everyone.

In the case of private employers in the US, they declare bankruptcy and responsibility for payment of the pensions may be shifted to the pension guarantee agency where payments are recalculated and capped at a low amount.

There must be a lot of old people wondering how they are going to make ends meet because they have been cheated out or their pensions and there are a few cheats out there riding around in their ultra luxury cars enjoying the good life at their expense. The demographic elderly wave is just starting to hit in the US and there are not enough greeter jobs at Walmart to employ the elderly and keep them from starving. Thailand is in a better position in this regard with a younger workforce and a more generous family culture.

[12DrinkMore]

If you've ever wondered why the banks do not keep considerably more of their profits as reserves, well here is a pointer.

http://www.bloomberg.com/news/2012-03-18/federal-reserve-stress-tests-make-us-all-muppets.html

Bankers like lower capital levels because their pay is based on return-on-capital unadjusted for risk. Shareholders are willing to go along either because they don’t understand the risks of thinly capitalized and therefore highly leveraged businesses, or they expect to share in the downside protection that will be provided by the government.

The last part they got wrong. The downside risk is, as we all know now, dumped out the taxpayers, savers, pensioners, not necessarily in that order.

[12DrinkMore]

Thailand is in a better position in this regard with a younger workforce and a more generous family culture.

I can see this changing as the government starts to award itself more generous pensions, taken at an early age.

Pension schemes are inherently and everywhere unable to pay out their liabilities.

It is impossible, averaged over the population and taking into account the fees involved, to gain an income from a pension scheme which is greater than inflation. Yes, I know there are individual exceptions, but I am addressing the Big Picture. A lot of pension schemes rely on an income of 7%. Utterly impossible.

This means that individuals either

1. Have to set aside roughly around 50% of their income in savings, in one way or the other.

or

2. Rely on future workers to pay for their retirement

or

3. Get the government to print up the cash.

So, depending on where you are currently situated on the course between birth and death, it might be a good idea to work out who is going to pay for your pension and whether they will be prepared to do it.

The current UK national pension will give you just over GBP 100 each week, paid for by the government printing the money.

20,000 Baht / month; I have no idea how anybody can survive on that in the UK, presumably through various benefits.

Edited March 22, 2012 by 12DrinkMore

[ronz28]

Most governments in US have pension plans that are actuarially evaluated and audited each year. A few will pay a cost of living allowance only when the plan is actuarially sound usually due to market appreciation, but there can be 10 year stretch between those times.

Most governments have had to switch from pay as you go pension accounting to accrual accounting and many of the previous abuses have come to light as the real costs have been discovered. Abuses should be eliminated, but without pension plans many will have to just rely on MAC insurance (step in front of a speeding MAC truck when you get too old or sick to work).

Its just beyond the capacity of most folks to hold down a full time job in a non financial field and then educate themselves adequately to invest their own money to provide for a retirement fund. Pensions put millions of peoples money in the hands of qualified experts with management controls, etc. to ensure optimum investments rather than each Joe six-pack trying to do it himself.

Any pension plan still on pay as you go is in deep water.

Edited March 22, 2012 by ronz28

[midas]

hilarious explanation of the Greek crisis

[Naam]

what happened? 2½ days no news about the financial crisis! crisis gone?

[flying]

what happened? 2½ days no news about the financial crisis! crisis gone?

or all the folks like me are busy packing......Of course we dont know if where we are headed is any better.

But we do know there is a lot of food there

Edit: Actually I should clarify that statement by saying I am leaving the US more out of disgust than fear of the crisis outcome.

Edited March 27, 2012 by flying

[Naam]

But we do know there is a lot of food there

and a much higher quality of som tam and phrik nam pla!

[flying]

But we do know there is a lot of food there

and a much higher quality of som tam and phrik nam pla!

Pohm mai gin nam plaa!..........Som Tam ok but no nam plaa thank you

Edited March 27, 2012 by flying

[Naam]

But we do know there is a lot of food there

and a much higher quality of som tam and phrik nam pla!

Pohm mai gin nam plaa!..........Som Tam ok but no nam plaa thank you

that some people don't like nam pla is one of the reasons that caused the financial crisis and later quantitative easing!

[Wrong Turn]

Now you know why I am getting the heck out of Dodge?

Actually Obama & GWB before him has had the US in a National State OF Emergency

for well over a decade now....A Decade !

That allows them to side step many Constitutional/ Congressional checks & balances.

The whole thing smacks & if Americans don't get the heck off the couch soon there will be a new

Amerika & yes they will wonder too late what the hell happened....I'm not waiting

Yes, the US has changed dramatically over the last 11 years.

There have been many laws passed - slipped into bills - and are now laws. But they are not being enforced - yet.

The Patriot Acts I and II. Why would a bill/act be called such a thing? So politicians running for re-election every 2 years in the house would vote for it.

Lots of additional laws on the book. The USA has already turned the corner. It's a process that started about 70 years ago (but even that is debatable).

The vast majority of Americans are asleep. They've never been astute on these matters.

I've been living as an expat for 11 years. I am happy.

[Wrong Turn]

And this....This was published in the Huffington Post recently. True? It must be.

\The new Executive Order states that the president and his secretaries have the authority to commandeer all U.S. domestic resources, including food and water, as well as seize all energy and transportation infrastructure inside the borders of the United States. The Government can also forcibly draft U.S. citizens into the military and force U.S. citizens to fulfill "labor requirements" for the purposes of "national defense." There is not even any Congressional oversight allowed, only briefings. In the NDAA, only the president had the authority to abrogate legitimate freedoms of U.S. citizens. What is extraordinary in the new Executive Order is that this supreme power is designated through the president to the secretaries that run the Government itself:

• The Secretary of Defense has power over all water resources;

• The Secretary of Commerce has power over all material services and facilities, including construction materials;

• The Secretary of Transportation has power over all forms of civilian transportation;

• The Secretary of Agriculture has power over food resources and facilities, livestock plant health resources, and the domestic distribution of farm equipment;

• The Secretary of Health and Human Services has power over all health resources; (I highlight this to focus on his obamicare)

• The Secretary of Energy has power over all forms of energy.

The Executive Order even stipulates that in the event of conflict between the secretaries in using these powers, the president will determine the resolution through his national security team.

The 2012 NDAA gave the Government the right to abrogate any due process against a U.S. citizen. The new Executive Order gives the government, through the Secretary of Labor, the right to proactively mobilize U.S. citizens for "labor" as the government deems necessary and to coordinate with the Secretary of Defense to maintain data to coordinate the nation's work needs in relation to national defense.

What is extraordinary about the Executive Order is that, like the NDAA, this can all be done in peacetime without any national emergency to justify it.

Jim Garrison: Martial Law by Executive Order

[flying]

I agree WT & like you say the majority are asleep 100%

Also agree on the naming of the Patriot Act

Not to mention being under a Declared National State Of Emergency

for over a DECADE NOW.............Do citizens not realize the implications of this?

DO they not know it allows sidestepping the Constitution through tools like

that Patriot Act & more?

One more thing that has been quietly moving along for some time now is

the Expatriation Act

Introduced as S. 1698 in the Senate and as H.R. 3166 in the House of Representatives, the Enemy Expatriation Act is expressly designed to "add engaging or supporting hostilities against the United States to the list of acts for which United States nationals would lose their nationality."

That definition is open ended........Will there be a time where free speech can be misconstrued as supporting hostility?

Would someone who spoke out often against the wars in Iraq/ Afghanistan or the drones in Pakistan be considered hostile?

It is a slippery slope they tread

But also..this is just another side step because you are not allowed to be a man without a country

So if they take your citizenship basically it is a sidestep to jail you without rights.

Not that this is not already allowed under the Patriot Act which basically destroyed Habeas Corpus

More on the Expatriation Act

http://www.americant...into_exile.html

http://www.govtrack....ills/112/hr3166

http://rt.com/usa/ne...nship-ndaa-737/

More on google including the original videos of the Senator & Congressman proposing the bill

Edited March 29, 2012 by flying

[churchill]

relax

Iran Attack Postponed Until Spring 2013

http://www.prisonplanet.com/report-iran-attack-postponed-until-spring-2013.html

[flying]

relax

Iran Attack Postponed Until Spring 2013

Weird how they now seem to always use the Internet for propaganda....

During this threat of bombing we have heard so many things....

Like bigger bunker busters requested of Congress

Israel & USA will shortly bomb Iran

USA will wait till after elections so as to not upset Obama's chances

Israel will go it alone because they cannot wait....etc etc etc

Hard to tell why such info would be released other than for propaganda reasons.......

It is a crazy time

Edited March 29, 2012 by flying

[Naam]

Iran Attack Postponed Until Spring 2013

[rijb]

Now you know why I am getting the heck out of Dodge?

Actually Obama & GWB before him has had the US in a National State OF Emergency

for well over a decade now....A Decade !

That allows them to side step many Constitutional/ Congressional checks & balances.

The whole thing smacks & if Americans don't get the heck off the couch soon there will be a new

Amerika & yes they will wonder too late what the hell happened....I'm not waiting

Yes, the US has changed dramatically over the last 11 years.

There have been many laws passed - slipped into bills - and are now laws. But they are not being enforced - yet.

The Patriot Acts I and II. Why would a bill/act be called such a thing? So politicians running for re-election every 2 years in the house would vote for it.

Lots of additional laws on the book. The USA has already turned the corner. It's a process that started about 70 years ago (but even that is debatable).

The vast majority of Americans are asleep. They've never been astute on these matters.

I've been living as an expat for 11 years. I am happy.

Tedious generalizations make me sleepy. What's the difference? The "vast majority" of Americans that are not doing anything "on these matters" or the sanctimonious expats that are not doing anything "on these matters"... But, they're happy!

Edited March 30, 2012 by rijb

[flying]

What's the difference? The "vast majority" of Americans that are not doing anything "on these matters" or the sanctimonious expats that are not doing anything "on these matters"... But, they're happy!

Well I am not an expat nor exactly happy at basically being forced to become one.......

But it is what it is

Have to do something while choice still exists.

[JimGant]

One more thing that has been quietly moving along for some time now is

the Expatriation Act

Well, first we should get rid of allowing all persons born in America to be American citizens. Too many accidental Americans have gone on to cause us some real problems, after they've returned to the land of their parents' birth. The Expatriation Act might rectify this oversight.

But, for me, a good old drone strike seems to work out very nicely. Just ask that fine accidental American, Anwar al-Awliki. Of course, a few -- those who limit the definition of "American" to what it says on your birth certificate -- got upset with taking out this radical. That he never stood up for the American flag is irrelevant -- since they've never either. The Expatriation Act, then, may avoid such drivel. Best if the Expatriation takes place just as the trigger is pulled.....

Flying, I hope your expatriation to Thailand will cut-down on the amount of your mail the Feds have been intercepting. But, just remember -- whenever you hear an ultra light aircraft overhead -- that's probably a CIA drone, looking for you. Sleep tight.

[flying]

that's probably a CIA drone, looking for you. Sleep tight.

Your just not the sharpest tool in the shed are you Jim?

Folks who think like you...or don't think I should say have made this once great nation into what it is today.

While you are fine trading our freedom & liberties for supposed temporary security the reality here in America is quite

as suspected.... declined into what will soon be described as something far different than our forefathers had in mind.

Just this morning I put my wife on a Interstate flight of not even 200 miles to finalize a few things we need.

She along with the rest of the 150 or so US citizens had to all walk through a full body scan.

No options no opting out. For a 40 minute flight interstate.

Yeah good work keep it up & hopefully if you do not reside in this place you have plans

to soon return....After all YOU & folks who think like you should eat the cake you have baked.

Edited March 30, 2012 by flying