Financial Crisis

[midas]

You guys are better informed of Detroit's financial issues and woes, but as a person who lived in the Detroit area for 40+ years I can attest to the city's awful, heartbreaking physical condition. Many areas of the city are sitting waiting to be demolished. My friends go into the city mostly just for sports events or concerts. Not much of any other reason to. After dark? The business district empties out. A veritable ghost town. In the 50s and into the 60s it was alive and flourishing. Now it is on life support. Actually beyond life support...

Lopburi you can compare your former home to other cities in America,so do you share the author's view that Detroit “ is really a metaphor for what is happening to America as a whole.”? And “the rest of the country will follow soon enough. “ ? Because, as he says the manufacturing infrastructure has been gutted?

Edited February 5, 2013 by midas

[midas]

Now even the lowest paying jobs in the West look like disappearing

Robot Serves Up 360 Hamburgers Per Hour

No longer will they say, “He’s going to end up flipping burgers.” Because now, robots are

taking even these ignobly esteemed jobs. Alpha machine from Momentum Machines cooks up a tasty burger with all the fixins. And it does it with such quality and efficiency it’ll produce “gourmet quality burgers at fast food prices.”

http://singularityhu...rgers-per-hour/

http://singularityhub.com/2013/01/22/robot-serves-up-340-hamburgers-per-hour/

Edited February 5, 2013 by midas

[midas]

This is getting ridiculously worse!

Group Finds More Fake Ingredients in Popular Foods .

In a new database to be released Wednesday, and obtained exclusively by ABC News today, USP warns consumers, the FDA and manufacturers that the amount of food fraud they found is up by 60 percent this year.

 Tea: diluted with fillers like lawn grass or fern leaves

 Spices: like paprika or saffron adulterated with dangerous food colorings that mimic the colors

seafood. The number one fake being escolar, an oily fish that can cause stomach problems, being mislabeled as white tuna or albacore, frequently found on sushi menus.

http://abcnews.go.co...ory?id=18281941

Edited February 5, 2013 by midas

[Lopburi99]

"Lopburi you can compare your former home to other cities in America,so do you share the author's view that Detroit “ is really a metaphor for what is happening to America as a whole.”? And “the rest of the country will follow soon enough. “ ? Because, as he says the manufacturing infrastructure has been gutted?"

Midas, no I don't. There are many factors behind the demise of Detroit but two primary ones in my opinion are 1) the explosive 1967 race riots which drove thousands of white Detroiters to the suburbs and scores of businesses out of S.E. Michigan entirely; but the tragic blow dealt to the city occurred during the 20 year tenure (1974 - 93) of the powerful, racially divisive and corrupt mayor: Coleman Young. Detroit floundered during those lost 20 key years while other large U.S. cities were transforming positively. Strong leadership during that period would have resulted in a level of industry diversification and strengthened civic unity when it was crucially needed.

Edited February 5, 2013 by Lopburi99

[midas]

"Lopburi you can compare your former home to other cities in America,so do you share the author's view that Detroit “ is really a metaphor for what is happening to America as a whole.”? And “the rest of the country will follow soon enough. “ ? Because, as he says the manufacturing infrastructure has been gutted?"

Midas, no I don't. There are many factors behind the demise of Detroit but two primary ones in my opinion are 1) the explosive 1967 race riots which drove thousands of white Detroiters to the suburbs and scores of businesses out of S.E. Michigan entirely; but the tragic blow dealt to the city occurred during the 20 year tenure (1974 - 93) of the powerful, racially divisive and corrupt mayor: Coleman Young. Detroit floundered during those lost 20 key years while other large U.S. cities were transforming positively. Strong leadership during that period would have resulted in a level of industry diversification and strengthened civic unity when it was crucially needed.

But it sounds from this article that Gary, Indiana is in a similar position to Detroit, although much smaller?

http://www.dailymail.co.uk/news/article-2173761/Tragic-portrait-city-decline-The-desolate-ruins-Gary-Indiana-reveal-decaying-heart-Americas-proud-industrial-centre.html#axzz2JzKmkChp

[yoshiwara]

Now even the lowest paying jobs in the West look like disappearing

Robot Serves Up 360 Hamburgers Per Hour

There is strong evidence that you are a robot serving up 360 indigestible hyperlinks per hour.

Edited February 5, 2013 by yoshiwara

[ronz28]

US Government and State Attorney Generals are blaming the financial crisis on inflated S&P ratings on junk debt (CDOs, etc.) as AAA in return for each of the issuing company's/bank's business to mislead buyers of the junk debt, etc. Other rating agencies are still under investigation. now at http://live.reuters.com/Event/Politics This link will probably change as it is for the real time press conference so you may have to search for a better link later.

Edited February 5, 2013 by ronz28

[mccw]

The US government is reportedly considering requesting details from banks of foreigners holding accounts in America. The news follows US demands for details of foreign nationals accounts abroad.

Labeled part of a crackdown on tax evasion, the US will potentially have access to the details of millions of foreign customers who hold accounts with America-based branches, according to Reuters. The move is expected to face strong resistance from the banking industry.

Wealthy foreigners and financial institutions that bank in the US could have their account details given to the US government. The Obama administration is expected to make the request of Congress in a forthcoming Whitehouse budget proposal.

The Foreign Account Tax Compliance Act (FATCA) already requires overseas financial companies to identify their American customers to the Internal Revenue Service.

-rt

[Naam]

The US government is reportedly considering requesting details from banks of foreigners holding accounts in America. The news follows US demands for details of foreign nationals accounts abroad.

Labeled part of a crackdown on tax evasion, the US will potentially have access to the details of millions of foreign customers who hold accounts with America-based branches, according to Reuters. The move is expected to face strong resistance from the banking industry.

Wealthy foreigners and financial institutions that bank in the US could have their account details given to the US government. The Obama administration is expected to make the request of Congress in a forthcoming Whitehouse budget proposal.

The Foreign Account Tax Compliance Act (FATCA) already requires overseas financial companies to identify their American customers to the Internal Revenue Service.

-rt

Wealthy foreigners and financial institutions that bank in the US could have their account details given to the US government.

typical RT lopsided garbage! the U.S. has already all details of foreigners and foreign institutions that bank in the Greatest Nation on Earth because they all submitted form W-8BEN (Certificate of Foreign Status of Beneficial Owner) to avoid any witholding tax or levy of income tax.

[mccw]

The US government is reportedly considering requesting details from banks of foreigners holding accounts in America. The news follows US demands for details of foreign nationals accounts abroad.

Labeled part of a crackdown on tax evasion, the US will potentially have access to the details of millions of foreign customers who hold accounts with America-based branches, according to Reuters. The move is expected to face strong resistance from the banking industry.

Wealthy foreigners and financial institutions that bank in the US could have their account details given to the US government. The Obama administration is expected to make the request of Congress in a forthcoming Whitehouse budget proposal.

The Foreign Account Tax Compliance Act (FATCA) already requires overseas financial companies to identify their American customers to the Internal Revenue Service.

-rt

Wealthy foreigners and financial institutions that bank in the US could have their account details given to the US government.

typical RT lopsided garbage! the U.S. has already all details of foreigners and foreign institutions that bank in the Greatest Nation on Earth because they all submitted form W-8BEN (Certificate of Foreign Status of Beneficial Owner) to avoid any witholding tax or levy of income tax.

Its saying they are going after details of foreign accounts belonging to foreigners of they have any account with US bank. Like the global reporting for US citizens; but now drawing the net wider to any one who has an account in US or with US bank. As if to bring the whole world under US tax duristiction.

[Naam]

The US government is reportedly considering requesting details from banks of foreigners holding accounts in America. The news follows US demands for details of foreign nationals accounts abroad.

Labeled part of a crackdown on tax evasion, the US will potentially have access to the details of millions of foreign customers who hold accounts with America-based branches, according to Reuters. The move is expected to face strong resistance from the banking industry.

Wealthy foreigners and financial institutions that bank in the US could have their account details given to the US government. The Obama administration is expected to make the request of Congress in a forthcoming Whitehouse budget proposal.

The Foreign Account Tax Compliance Act (FATCA) already requires overseas financial companies to identify their American customers to the Internal Revenue Service.

-rt

Wealthy foreigners and financial institutions that bank in the US could have their account details given to the US government.

typical RT lopsided garbage! the U.S. has already all details of foreigners and foreign institutions that bank in the Greatest Nation on Earth because they all submitted form W-8BEN (Certificate of Foreign Status of Beneficial Owner) to avoid any witholding tax or levy of income tax.

Its saying they are going after details of foreign accounts belonging to foreigners of they have any account with US bank. Like the global reporting for US citizens; but now drawing the net wider to any one who has an account in US or with US bank. As if to bring the whole world under US tax duristiction.

it (RT) is saying "rubbish", nothing more and nothing less! the "net" has always existed and transactions of these accounts were always reported. that's why a high number of foreign accounts were frozen because some of the transactions were considered to aid terrorist organisations.

[cheeryble]

Careful Naam you're going off using rationality and facts again.......

ps:note to self:when did you last fill in your W-8?........seems like a three years

Edited February 6, 2013 by cheeryble

[cheeryble]

US Government and State Attorney Generals are blaming the financial crisis on inflated S&P ratings on junk debt (CDOs, etc.) as AAA in return for each of the issuing company's/bank's business to mislead buyers of the junk debt, etc. Other rating agencies are still under investigation. now at http://live.reuters.com/Event/Politics This link will probably change as it is for the real time press conference so you may have to search for a better link later.

CDOs were misleadingly packaged by the issuers to bundle previously low rated individual securities under the same banner as the highest in the package.

S & P were egregiously negligent in letting this through the net. Best not to upset the client.

Edited February 6, 2013 by cheeryble

[mccw]

""Greece's ruling coalition has ordered striking seamen to return to work and end ferry schedule suspensions that had caused acute food and medical shortages.""

-sky news

""Days of strikes by dustmen in Seville have seen 6,000 tonnes of stinking rubbish pile up on the streets""

Strikes, protests, shortages, corruption in the highest offices, shoring unemployment; Euro zone really on the mend and justified rally?

------

Naam, Your telling me that currently the US can demand to see foreign accounts of foreign nationals simply because they have one account with a US company?

[Naam]

Naam, Your telling me that currently the US can demand to see foreign accounts of foreign nationals simply because they have one account with a US company?

the U.S. can see (since many years) any account and its details of any national if that account is with a financial institution located in the U.S.

interesting is also the fact that the U.S. can see (in details) any transfer denominated in U.S. Dollars if this transfer is done from one bank in Singapore to another bank in Singapore even if these two banks are located in the same building.

[mccw]

Naam, Your telling me that currently the US can demand to see foreign accounts of foreign nationals simply because they have one account with a US company?

the U.S. can see (since many years) any account and its details of any national if that account is with a financial institution located in the U.S.

interesting is also the fact that the U.S. can see (in details) any transfer denominated in U.S. Dollars if this transfer is done from one bank in Singapore to another bank in Singapore even if these two banks are located in the same building.

That is interesting; but my reading of the article and my point was that they seemed to be saying that details of accounts held OUT side of the US, in any denomination, can be demanded if the account holder has any another account with a US bank or in the US, either way this is a step further than the existing demands on foreign institutions dealing with just US citizens.

Kow jai Mai?

[Naam]

That is interesting; but my reading of the article and my point was that they seemed to be saying that details of accounts held OUT side of the US, in any denomination, can be demanded if the account holder has any another account with a US bank or in the US, either way this is a step further than the existing demands on foreign institutions dealing with just US citizens.

Kow jai Mai?

wrong interpretation.

Labeled part of a crackdown on tax evasion, the US will potentially have access to the details of millions of foreign customers who hold accounts with America-based branches, according to Reuters.

[Naam]

Careful Naam you're going off using rationality and facts again.......

i humbly apologise. will concentrate in future more on infos from the Tooth Fairy

[mccw]

That is interesting; but my reading of the article and my point was that they seemed to be saying that details of accounts held OUT side of the US, in any denomination, can be demanded if the account holder has any another account with a US bank or in the US, either way this is a step further than the existing demands on foreign institutions dealing with just US citizens.

Kow jai Mai?

wrong interpretation.

Labeled part of a crackdown on tax evasion, the US will potentially have access to the details of millions of foreign customers who hold accounts with America-based branches, according to Reuters.

Second sentence of the article:

"The news follows US demands for details of Foreign nationals accounts Abroad"

[Naam]

That is interesting; but my reading of the article and my point was that they seemed to be saying that details of accounts held OUT side of the US, in any denomination, can be demanded if the account holder has any another account with a US bank or in the US, either way this is a step further than the existing demands on foreign institutions dealing with just US citizens.

Kow jai Mai?

wrong interpretation.

Labeled part of a crackdown on tax evasion, the US will potentially have access to the details of millions of foreign customers who hold accounts with America-based branches, according to Reuters.

Second sentence of the article:

"The news follows US demands for details of Foreign nationals accounts Abroad"

this is what i meant with "RT rubbish" even though the alleged source is Reuters.

[Naam]

""Greece's ruling coalition has ordered striking seamen to return to work and end ferry schedule suspensions that had caused acute food and medical shortages.""

-sky news

""Days of strikes by dustmen in Seville have seen 6,000 tonnes of stinking rubbish pile up on the streets""

Strikes, protests, shortages, corruption in the highest offices, shoring unemployment; Euro zone really on the mend and justified rally?

when emperor Vespasian of the Roman Empire introduced a tax on the trade of pee from public urinals in Rome his son (i forgot his name) told his father "that's a disgusting tax!" the father told the son "non olet!", actually meaning "pecunia non olet" (money does not stink).

many investors (including me) don't care whether Sevilla's garbage collection does not function but are trying to make a buck in Europe's various rallies or downturns.

now waiting patiently for Mother Theresa Midas (copyright Yoshiwara) to appear through the backdoor to chastise me.

[mccw]

""Greece's ruling coalition has ordered striking seamen to return to work and end ferry schedule suspensions that had caused acute food and medical shortages.""

-sky news

""Days of strikes by dustmen in Seville have seen 6,000 tonnes of stinking rubbish pile up on the streets""

Strikes, protests, shortages, corruption in the highest offices, shoring unemployment; Euro zone really on the mend and justified rally?

when emperor Vespasian of the Roman Empire introduced a tax on the trade of pee from public urinals in Rome his son (i forgot his name) told his father "that's a disgusting tax!" the father told the son "non olet!", actually meaning "pecunia non olet" (money does not stink).

many investors (including me) don't care whether Sevilla's garbage collection does not function but are trying to make a buck in Europe's various rallies or downturns.

now waiting patiently for Mother Theresa Midas (copyright Yoshiwara) to appear through the backdoor to chastise me.

The point is its all broke n not better. A bit of round about money creation to hold the soverieng bonds down isn't going to fix anything.

Its Doomed, doomed I tell you. Get out while you can.

[mccw]

this is what i meant with "RT rubbish" even though the alleged source is Reuters.

I'm sure most expat Americans thought it was all "rubbish" reports and that foreign banks and tax havens would never bend over to give up private clients data..... Until it happened.

If it does happen it'll be another nail in the $s coffin

[Naam]

""Greece's ruling coalition has ordered striking seamen to return to work and end ferry schedule suspensions that had caused acute food and medical shortages.""

-sky news

""Days of strikes by dustmen in Seville have seen 6,000 tonnes of stinking rubbish pile up on the streets""

Strikes, protests, shortages, corruption in the highest offices, shoring unemployment; Euro zone really on the mend and justified rally?

when emperor Vespasian of the Roman Empire introduced a tax on the trade of pee from public urinals in Rome his son (i forgot his name) told his father "that's a disgusting tax!" the father told the son "non olet!", actually meaning "pecunia non olet" (money does not stink).

many investors (including me) don't care whether Sevilla's garbage collection does not function but are trying to make a buck in Europe's various rallies or downturns.

now waiting patiently for Mother Theresa Midas (copyright Yoshiwara) to appear through the backdoor to chastise me.

The point is its all broke n not better. A bit of round about money creation to hold the soverieng bonds down isn't going to fix anything.

Its Doomed, doomed I tell you. Get out while you can.

"doomed" i hear since nearly five years

[mccw]

The dramatic joke voice in my head obviously didn't convert through my text

[mccw]

But seriously; they've spun it out but policy wise they're basically in to ramping on the money printing with ballooning debts still = the same results as every other countries that prints - inflation and falling disposable income- falling demand - failing economic activity- falling living standards - etc

[Naam]

[yoshiwara]

The dramatic joke voice in my head obviously didn't convert through my text

How many other voices do you have in your head perchance?

[midas]

The dramatic joke voice in my head obviously didn't convert through my text

How many other voices do you have in your head perchance?

this describes you Yoshiwara..... ......

helps explain your tunnel vision and your repeated inability to think outside the box……….. Baaaaaaaaahhh

Sheeple are puppets in the game of political reconstruction, and their job is to cheerlead the establishment and to drown out all honest voices.

http://www.alt-marke...-at-a-sad-breed

Edited February 7, 2013 by midas

[mccw]

The dramatic joke voice in my head obviously didn't convert through my text

How many other voices do you have in your head perchance?

Many voices, lol; I don't know. Doesn't every one think in language? One mind could be thinking/ taking many points of view in a single topic.

I have reason for thought occasionally free from language kinda seeing spaces, adaptions drawings and such too. Can you to image the human body then go look in side all through down to the cells and eventually to atoms, then try to open to imagine how infinitely small the building blocks inside the visible world goes down; worlds with world with in world. Then send the view back up the other way to the starts, solar systems, see our own universe as a bubble in a sea of infinity.

As a wise monk once said, or words to this effect: It's normal to have unwholesome or bad thoughts, even evil urges to kill an enemy or similar; but its what thoughts you chose to act upon that determine our path and create our Karma. Simply having a thought or "hearing voices" is not in itself a problem. It's the lack of taking a step back from and analysing the merit of thoughts before action that afflicts so many people. Another thing afflicting people, this one applies to Yoshi in particular, is the proverbial box and not being able to see out of it; like the chick still in its egg.