Financial Crisis

[mccw]

This from biz insider app just now:

""""

President Barack Obama's newly created retirement account (myRA) will do very little to help the working poor and will quickly become another bloated bureaucratic system that wastes billions of taxpayer dollars.

The myRA (which stands for My Retirement Account) plan will authorize the Department of the Treasury to create a new type of savings plan for those workers who do not have access to an employer-sponsored retirement plan. Deposits into myRA are not tax deductible, but instead grow tax-deferred and come out tax-free upon retirement.

While at first glance this looks similar to a Roth individual retirement account (IRA), the mechanics of the myRA plan are decidedly different.

Rather than having savers choose from a variety of investments available in the marketplace, myRA establishes a fund that invests in a government-managed program guaranteed by taxpayers.

(Read more: Roth IRA conversion and state income tax)

The fund would be similar to the Thrift Savings Plan Government Securities Investment fund, which is already available to federal workers.

So here's the irony: The myRA will actually have the working poor financing the government's deficit spending. By creating accounts that invest in a government pool, it's yet another way for the Treasury to raise funds without having to sell bonds in the public markets.

[mccw]

Just invade you missed it Midas - I replied to your reply at the bottom of the last page but with out using quotes. (Just let u know coz I used miss those end of page posts if joining in from a desktop)

[mccw]

((Lots of typos in my last few posts but I think u can read what I am talking about))

[mccw]

"""

Barclays bank has pushed up staff bonuses by 10% despite seeing both its revenue and profit fall, as it admits 7,000 UK job cuts will occur this year.

The bank said it would pay £2.378bn in "incentives", following the release of its annual results for 2013.

""""

- excerpt from sky news app

(Today's)

[chiang mai]

An interesting chart here showing which country owns what percentage of China's external debt, looks like British banks are in the front line again:

http://www.telegraph.co.uk/finance/comment/10634339/World-asleep-as-China-tightens-deflationary-vice.html

It would be interesting to understand what the RoW comprises, which countries and how much.

[NeverSure]

An interesting chart here showing which country owns what percentage of China's external debt, looks like British banks are in the front line again:

http://www.telegraph.co.uk/finance/comment/10634339/World-asleep-as-China-tightens-deflationary-vice.html

It would be interesting to understand what the RoW comprises, which countries and how much.

I wonder if it could mean "rest of the world." There are a lot of countries and areas not mentioned there such as India, the Middle East, Africa, Central and S America, other Asian countries, Russia, etc.

Edited February 13, 2014 by NeverSure

[chiang mai]

Indeed RoW does mean Rest of World, my question is what countries make up the RoW and what percentages etc, as asked earlier!

[mccw]

""""

Bud Konheim, CEO of luxury-fashion company Nicole Miller, has a message for the 99% — stop whining.

"We've got a country that the poverty level is wealth in 99 percent of the rest of the world," Konheim said on CNBC's Squawk Box this morning. "So we're talking about woe is me, woe is us, woe is this."

"The guy that's making, oh my God, he's making $35,000 a year... Why don't we try that out in India or some countries we can't even name. China, anyplace, the guy is wealthy," said Konheim, donning a floppy bow tie.

"Our 99% are the 1% in the rest of the world," echoed CNBC host Joe Kernen. "I agree, thank you."

""""

- Via biz insider app

[canman]

Any chartists care to comment on this apparent parallel?

[mmh8]

Indeed RoW does mean Rest of World, my question is what countries make up the RoW and what percentages etc, as asked earlier!

almost 50 % lol

ok just being funny, how likely is it other bric countires have invested in China, not sure about ME

thing is China has purchased a lot of US debt, I am a bit confused with this.

[mccw]

Any chartists care to comment on this apparent parallel?

Search for the percentage adjusted comparison. I think biz insider covered this a few days ago.

[Naam]

Any chartists care to comment on this apparent parallel?

aliens conspiring! no doubt about that. i suspect either the Ferengis or species 4749.

[Naam]

Indeed RoW does mean Rest of World, my question is what countries make up the RoW and what percentages etc, as asked earlier!

almost 50 % lol

ok just being funny, how likely is it other bric countires have invested in China, not sure about ME

thing is China has purchased a lot of US debt, I am a bit confused with this.

Row row row your boat,

Gently down the stream.

Merrily, merrily, merrily, merrily,

Life is but a dream.

[midas]

Just invade you missed it Midas - I replied to your reply at the bottom of the last page but with out using quotes. (Just let u know coz I used miss those end of page posts if joining in from a desktop)

yes thanks mccw for that well thought out response

I'm just going to digest what you said now

[midas]

This from biz insider app just now:

""""

President Barack Obama's newly created retirement account (myRA) will do very little to help the working poor and will quickly become another bloated bureaucratic system that wastes billions of taxpayer dollars.

The myRA (which stands for My Retirement Account) plan will authorize the Department of the Treasury to create a new type of savings plan for those workers who do not have access to an employer-sponsored retirement plan. Deposits into myRA are not tax deductible, but instead grow tax-deferred and come out tax-free upon retirement.

While at first glance this looks similar to a Roth individual retirement account (IRA), the mechanics of the myRA plan are decidedly different.

Rather than having savers choose from a variety of investments available in the marketplace, myRA establishes a fund that invests in a government-managed program guaranteed by taxpayers.

(Read more: Roth IRA conversion and state income tax)

The fund would be similar to the Thrift Savings Plan Government Securities Investment fund, which is already available to federal workers.

So here's the irony: The myRA will actually have the working poor financing the government's deficit spending. By creating accounts that invest in a government pool, it's yet another way for the Treasury to raise funds without having to sell bonds in the public markets.

yes this has been mentioned several times on Fox business Channel (as you would expect )

they are probably hoping the same loyal supporters that voted him back into office for a 2 nd term will be naive enough to kiss their money goodbye with Uncle Sam

[chiang mai]

The poster asked a question, how about once in a while you try giving a helpful or even slightly educational educational response?

You've clearly got vast amounts of useful knowledge on a range of affairs yet all you seem to do is sit back and snipe, continuously. All your responses to almost any post either belittles or intimidates, this forum is not your personal playground although not all posters, especially new ones, understand that. Being respected for your past has nothing to do with what you are today, wise up.

EDIT: My post directed at Naam, exclusively.

Edited February 13, 2014 by chiang mai

[Naam]

Any chartists care to comment on this apparent parallel?

you don't need a chartist to comment. a little homework on Tom DeMark's forecasts gives more insight.

Tom DeMark, founder of Market Studies and creator of the DeMark Indicators, told CNBC's Fast Money on October 22 that "the overall trend of the market is definitely down and we're going to see a very long and extended decline. We've made the highs for the year." On Bloomberg TV on October 25, DeMark said the S&P would decline by "12 to 17%."

http://www.distressedvolatility.com/2012/11/tom-demark-sees-major-s-500-sell-signal.html

S&P Oct 22, 2012......................1754.67

S&P Feb 12, 2013.....................1819.26

DeMark's forecast (comparing and averaging his "minus 12 to 17%") is clearly BS.

conclusion: one of the many voodoo priests who prophesy gloom&doom using a ruler and drawing lines.

[Naam]

more on Tom Demark

Feb. 5, 2014

TOM DEMARK: The Next Two To Three Days Are 'Extremely Critical' For The Stock Market — It May Crash 40%

Now, yesterday, we did have an up close on most of the major U.S. indices. So, if we get a down close today, and tomorrow we open lower and trade lower, we're probably going to unravel, and the news, regardless of what it is on Friday, will be negative — perceived negative.

What we're seeing right now, if the market does unravel, I think we'll have a correction of 40% off the high, which would put us at about 1100 [on the S&P 500 index].

http://www.businessinsider.com/tom-demark-fears-market-crash-2014-2

S&P Feb 05, 2014..............1751

S&P Feb 12, 2014..............1819 = +3.88% in 5 trading days!

[midas]

Any chartists care to comment on this apparent parallel?

you don't need a chartist to comment. a little homework on Tom DeMark's forecasts gives more insight.

Tom DeMark, founder of Market Studies and creator of the DeMark Indicators, told CNBC's Fast Money on October 22 that "the overall trend of the market is definitely down and we're going to see a very long and extended decline. We've made the highs for the year." On Bloomberg TV on October 25, DeMark said the S&P would decline by "12 to 17%."

http://www.distressedvolatility.com/2012/11/tom-demark-sees-major-s-500-sell-signal.html

S&P Oct 22, 2012......................1754.67

S&P Feb 12, 2013.....................1819.26

DeMark's forecast (comparing and averaging his "minus 12 to 17%") is clearly BS.

conclusion: one of the many voodoo priests who prophesy gloom&doom using a ruler and drawing lines.

I don't know many times in over 589 pages in this thread you have used the term “ doom and gloom “ so how do you define doom and gloom with reference to the financial crisis?

Do you agree the financial system as it is is today is Alice in Wonderland stuff and that a " reset " is imminent and necessary?

[Naam]

Any chartists care to comment on this apparent parallel?

you don't need a chartist to comment. a little homework on Tom DeMark's forecasts gives more insight.

Tom DeMark, founder of Market Studies and creator of the DeMark Indicators, told CNBC's Fast Money on October 22 that "the overall trend of the market is definitely down and we're going to see a very long and extended decline. We've made the highs for the year." On Bloomberg TV on October 25, DeMark said the S&P would decline by "12 to 17%."

http://www.distressedvolatility.com/2012/11/tom-demark-sees-major-s-500-sell-signal.html

S&P Oct 22, 2012......................1754.67

S&P Feb 12, 2013.....................1819.26

DeMark's forecast (comparing and averaging his "minus 12 to 17%") is clearly BS.

conclusion: one of the many voodoo priests who prophesy gloom&doom using a ruler and drawing lines.

I don't know many times in over 589 pages in this thread you have used the term “ doom and gloom “ so how do you define doom and gloom with reference to the financial crisis?

Do you agree the financial system as it is is today is Alice in Wonderland stuff and that a " reset " is imminent and necessary?

if somebody (like DeMark) forecasts a market drop of 40% and the market goes up or a "worldwide renowned and accredited investor" (like Faber) who forecasted five years ago that the Greatest Nation on Earth™ will soon face "Zimbabwean inflation" then indeed calling them gloom&doomers is not justified because they are charlatans trying to bs ignorants.

i don't agree that anything is "imminent and necessary". especially because neither "reset" nor "necessary" is defined.

what i know that in 589 pages of this thread (since five years) an imminent crash was forecasted / insinuniated half a zillion times. it is therefore quite possible that imminent means another 5 or even 10 years. who knows? only time will tell.

[cheeryble]

Any chartists care to comment on this apparent parallel?

Yes it have a comment.....ready?

Cheeryble:

"Humans are pattern-seeking animals.

Selection bias means they tend to notice when the patterns appear and not notice when they don't.

Further selection bias gets them published which makes then susceptible to publication bias.

Publication bias may even get them onto Thaivisa forum.

ps anyone earning 0% on $1m needs a lobotomy.

Sent from my iPad using ThaiVisa app

Edited February 13, 2014 by cheeryble

[midas]

You don't even have to bother with comparing read squiggly lines with black squiggly lines to try to work out where things are heading ?

When you have a president who openly declares his belief that paying people not to work somehow "creates jobs," then it's time to be very worried

Edited February 14, 2014 by midas

[mccw]

Some interesting bits on scot independence come to me from market oracle newsletter (snippets here):

"""Scottish Independence Impact on the UK Economy

An Independent Scotland would be a twin edged sword because on the one hand the UK would no longer be burdened by having to to bribe the Scots with ever larger amounts of net subsidy, where the annual block grant currently stands at £30 billion per year that helps bridge the gap between socialist government deficit spending and tax revenues. Against the loss of North Sea oil revenues that currently generate about £7 billion in tax revenue per year and therefore a net subsidy (bribe) to Scotland to stay in the Union of £23 billion per year, though in reality most of this gap would be filled by income and other taxes. But it would still mean Scotland would be a net £8 billion a year worse off than being within the Union.

Whilst it is true that 90% of North Sea oil revenues are gained come from Scottish waters, however North Sea oil peaked in 1999, since which daily output has fallen by 2/3rds and there is no sign that the trend in falling output is going to end any time soon as new oil fields are unable to make up for the declining output from existing fields."""

""""

Scottish Budget Deficit

The Scottish economy runs at a huge deficit that is only maintainable due to being heavily subsidised by England. The country's total income for 2011-12 was £47.2 billion against expenditure of £58 billion, therefore a net deficit of more than £10 billion (Source: Scotland.gov.uk), therefore taking into account extra oil revenue of £6 billion this puts an Independent Scotland short by an additional near 5 billion per year, but this is BEFORE Scotland's share of the national debt of £115 billion and resulting annual interest payments of at least £4 billion are taken into account as well as its banks liabilities.

Debt and Bankrupt Bank Liabilities

What the Scottish Nationalists conveniently tend to forget is the debt burden that would be transferred over to Scotland as a proportion of the population, i.e. approx 8.5% of the current £1.35 trillion of public debt of approx £115 billion, which would demand interest costs of at least £4 billion per year.

Also the financial crisis has resulted in predominately scottish banks in the forms of RBS and HBOS, resulting in liabilities of more than £1 trillion, that and transference of 8.5% of public debt would greatly improve the remaining United Kingdoms balance sheet as the costs of bank capital injections and interest payments far exceeds the revenues of North Sea Oil and if the Scottish subsidy is taken into account there is a large net cost to maintaining the Union.

Therefore the net benefit to England from an independent Scotland would be estimated to be far more than the revenues lost from North Sea Oil, an estimated net annual saving of at least £20 billion per year with the added bonus of eventually having transferred liability for bankrupt Scottish banks permanently away from UK tax payers."""""

Send them on their way ? Kick wales, Northern Island out while we're at it?

[Naam]

new name nsUK (not so United Kingdom)?

[waza]

new name nsUK (not so United Kingdom)?

Or SUKS, Selectively United Kingdom States

[mccw]

""""

Harvard brainiacs are at it again. Inspired by termites, they have realized their dream of cheap, expendable, self-organizing robots a construction crew building complex structures at a quick pace, and completely independent of leadership.

The possibilities are vast. The machines can be made to build any three-dimensional structure on their own and with minimal instruction. But what is truly staggering is their ability to adapt to their work environment and to each other; to calculate losses, reorganize efforts and make adjustments. It is already clear that the development will do wonders for humanity in space, hard-to-reach places and other difficult situations.

""""

-RT

All the bots are 3D printed by the way.

So many amazing new technologies coming through.

We may be on the cusp of a new great industrial revolution; or total collapse , or somewhere in the middle

[SheungWan]

new name nsUK (not so United Kingdom)?

Or SUKS, Selectively United Kingdom States

The UK name has appeared to date to have survived the experience of Irish independence. Isn't also N.Ireland an add-on to the UK in name form?

[mccw]

""""

More than 450 Indian migrant workers in Qatar have died in the last two years, media revealed on Monday. Another upcoming report will show that 400 Nepalese have lost their lives scrambling to get the Gulf state ready for the 2022 World cup.

At least 237 Indian migrants lost their lives in Qatar in 2012 and another 218 in 2013 up to December 5, AFP reported on Monday, citing figures received via a Right to Information request filed at the Indian embassy in Qatar.

On average, 20 Indian migrants die per month in Qatar. August last year was the most deadly month on record, with 27 fatalities being reported.

""""

- RT

[mccw]

""Brussels has frozen research grants for Swiss universities worth hundreds of millions of euros in retaliation after Switzerland voted to cap the number of immigrants entering the country in a nationwide referendum.

The retaliatory move by the EU comes just one day after Switzerland refused to sign a freedom of movement agreement with Croatia, which would have given Croatians unrestricted access to the Swiss employment market.

In addition to ejecting Switzerland from the so-called Horizon 2020, an 80-billion-euro ($109.5 billion) research and innovation program that distributes funds over seven years (2014-2020), Brussels has suspended Switzerland from the Erasmus student exchange program, ATS news agency reported.

In 2011-12, 2,600 Swiss students took advantage of Erasmus, while Switzerland played host to some 2,900 foreign students through the EU-funded exchange program.

Erasmus has a 14.7-billion-euro budget through to the year 2020.

The Swiss government had hoped to create 8,000 new jobs through the EU grant program, yet an increasing number of Swiss citizens believe the trade-off in terms of higher immigration rates is not worth it. """

- RT

I'd wager a few millions from EU funded students is a piss in the ocean compared to the savings to be made from keeping out the benefits tourists.

[cheeryble]

Warning:

Stockmarket to drop 50%

http://www.moneynews.com/MKTNewsIntl/Stock-market-recession-alert/2014/02/10/id/551985?promo_code=166D4-1&utm_source=taboola&utm_medium=referral

Luckily the thoughtful folks at Moneynews have given us the opportunity to obtain……free surely…...a special calendar which will outperform beyond our wildest dreams.

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