henryclay
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Post by henryclay on Feb 13, 2011 13:20:16 GMT -5
"......The following are 20 facts that will make you really mad if you stop and think about them for a while...." ......Unless you have some secret that keeps you out of the mix..... #1 Since the Federal Reserve was created in 1913, the U.S. dollars has declined in value by over 95 percent. #2 The difference between the budget that the "big spending Democrats" are proposing and the budget that the "big spending Republicans" are proposing is only about 32 billion dollars. Considering the fact that our national budget deficit is going to run about 1.5 trillion dollars this year, 32 billion dollars is not a whole heck of a lot to cut. #3 Japan now manufactures about 5 million more automobiles than the United States does. #4 China has now become the world's largest exporter of high technology products. #5 The U.S. government currently owes China 895 billion dollars and we are constantly sending government officials over there to beg them to lend us even more money. #6 The President of the Federal Reserve Bank of Atlanta, Dennis Lockhart, says that the Federal Reserve is not responsible for the rising cost of living.... The Fed, like every other central bank, is powerless to prevent fluctuations in the cost of living and increases of individual prices. We do not produce oil. Nor do we grow food or provide health care. We cannot prevent the next oil shock, or drought, or a strike somewhere —events that cause prices of certain goods to rise and change your cost of living. #7 The price of food is going up, the price of gasoline is going up, but home values continue to go down. According to CoreLogic, national home prices were 5.46 percent lower in December 2010 than they were in December 2009. #8 In Osceola County, Florida 66.5% of all home mortgages are underwater. In Clark Country, Nevada 71.1% of all home mortgages are underwater. #9 There are approximately 28 million Americans that would like full-time jobs but that don't have full-time jobs. #10 In a recent interview, Donald Rumsfeld said that he takes "great pride in the structures that the Bush administration put in place that this Obama administration criticized and ran against and now have retained: military commissions and indefinite detention and (the prison at) Guantanamo Bay, Cuba." #11 The number of net jobs gained by the U.S. economy during this past decade was smaller than during any other decade since World War 2. #12 The Obama administration and the Federal Reserve are both declaring that the U.S. economy is in recovery mode, and yet an all-time record of 43.6 million Americans were on food stamps during the month of November. #13 According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States. Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance. #14 A Super Bowl television ad that encouraged people to look up John 3:16 was rejected by Fox Sports because they felt that it was "too offensive". #15 In Houston, Texas a couple named Bobby and Amanda Herring that had been feeding homeless people for over a year has been banned by the city from doing so. They were told that they needed a permit to feed the homeless and city officials say that they are not going to get one. #16 A study by the World Institute for Development Economics Research found that the bottom half of the world population owns approximately 1 percent of all global wealth. #17 Approximately 1 billion people throughout the world go to bed hungry each night. #18 During Barack Obama's first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined. #19 An increasing number of investors are betting that the U.S. government will default on its debt. In fact, trading of U.S. credit default swap contracts has more than doubled over the last several weeks. #20 The fastest growing portion of the federal budget is interest on the national debt. Source: endoftheamericandream.com/archives/20-facts-that-will-make-you-really-mad-if-you-stop-and-think-about-them-for-a-while
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Post by Savoir Faire-Demogague in NJ on Feb 13, 2011 13:40:02 GMT -5
I am better off, only because of my own actions, and nothing the govt has done.
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vonnie6200
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Post by vonnie6200 on Feb 13, 2011 13:41:35 GMT -5
I am better off, only because of my own actions, and nothing the govt has done. The same would be true with me.
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billisonboard
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Post by billisonboard on Feb 13, 2011 13:44:48 GMT -5
Quite a collection of facts, clearly something within the 20 to anger just about anyone. And now that we are mad as hell and aren't going to take it any more, what should we be doing to force Fox to air a Christian oriented commerical, redistribute wealth so that bottom half of the world's population have more than one percent of the world's wealth, and get Donald Rumsfield to shut his mouth?
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Gardening Grandma
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Post by Gardening Grandma on Feb 13, 2011 13:45:40 GMT -5
Our net worth is up a bit even thought DH retired three years ago. So I'd say were were better off than four years ago. I'm not arrogant enough to take all the credit for it however. We've had a bit of luck.
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Gardening Grandma
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Post by Gardening Grandma on Feb 13, 2011 13:46:30 GMT -5
Quite a collection of facts, clearly something within the 20 to anger just about anyone. And now that we are mad as hell and aren't going to take it any more, what should we be doing to force Fox to air a Christian oriented commerical, redistribute wealth so that bottom half of the world's population have more than one percent of the world's wealth, and get Donald Rumsfield to shut his mouth? ROFL <<<karma>>
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Post by marjar on Feb 13, 2011 13:48:14 GMT -5
Very good Dezi!
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formerexpat
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Post by formerexpat on Feb 13, 2011 13:48:14 GMT -5
So nearly 90% of the people in the world do not go to bed hungry each night. That's awesome!
And yet the standard of living for almost every American is better than it was 100 years ago.
Some of the facts as presented are anecdotal at best. Who cares that two counties in America, which is home to just over 2m people, has over 2/3 of their residents under water on their mortgage?
How much of an impact does that have on the other 308m+ people in the US? Why is being underwater, in and of itself, such a bad thing? My cost basis is $20k more than the sales price of my home. I have an FHA mortgage with just 3.5% down. I'm underwater on my home!!! Guess what, big freaking deal.
I'm anti-Obama policies, make no mistake but Congress is responsible for spending. Granted, this President has pushed his policies and had an ever willing majority to help push the reckless policies through but you can't absolve Congress and Senate [at least the people seemed to recognize this in November].
And here all I've heard was how China owned us?? Shit, this isn't even 2% of the total assets of the US. A total asset figure that doesn't include the value of natural resources in this country.
And they'll need to continue to do so to pay off the 200% debt / GDP that they have in their country. Considering their falling workforce to pay for this debt, they are in a much bigger problem than the US - right now, at least. [/size]
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deziloooooo
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Post by deziloooooo on Feb 13, 2011 13:51:10 GMT -5
Thanks but I am not on here .......YET If you meant Bills post, I am with you..a
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hannah27
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Post by hannah27 on Feb 13, 2011 13:58:13 GMT -5
We were much better off four years ago than we are today. Our home equity, once a comfortable level of over 60%, is now hovering too close to negative equity. (Florida) On the one hand it doesn't matter because we have to pay to live somewhere; on the other hand it does effectively "trap" us in our home state when we'd like to leave. Salaries are stagnant but uncontrollable expenses continue to rise: utilities, real estate taxes, all insurances and copays, all state fees, groceries, gas, etc. Our HOA fees alone increased 20% this year because so many homeowners are not paying as agreed.
Thank God we are not retired and living on a fixed income.
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safeharbor37
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Post by safeharbor37 on Feb 13, 2011 13:59:26 GMT -5
Personally, I'm better off, it seems, every year ~ except for the ravages of age. To some degree, knowing that I don't have to worry about 2030 is comforting. I'm tired of CHANGE! That's for the young. I wasn't sure that I could make it when I retired and, if I last past 2030, I might not yet ~but to a great extent, that'll be someone else's problem since I'll be pretty much at the mercy of others [and perhaps a "death panel"]. I see a lot of news stories, ads and such where older people are bemoaning their fate, the stock market, inflation, etc. I know that that happens; it could happen to anyone; it is sometimes beyond anyone's control. I've been fortunate [and frugal]. To some degree, people expect things to work out according to plan. Life doesn't work that way. Death, sickness, unfortunate circumstances like accidents, suicide, unanticipated business failures, etc., are in the cards for all people ~ it's just which one and when. I plan on just chugging on until God's through with me. There's no point in worrying about things over which we have no control, particularly things in the past. I think things get better when we make the most of today and don't worry so much about the past or the future, but, of course, look where we're going.
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billisonboard
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Post by billisonboard on Feb 13, 2011 14:06:13 GMT -5
It is the manipulative nature of the OP that truly bothers me. List 20 things selected to get people angry because people in an emotional state are easier to stampede mindlessly to where you want them to go.
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dancinmama
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Post by dancinmama on Feb 13, 2011 14:08:40 GMT -5
We are not better off in that we have lost some money in investments and the value of our home has dropped substantially.
We are better off in that DH's income has increased by 33% over the last (4) years.
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billisonboard
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Post by billisonboard on Feb 13, 2011 14:20:13 GMT -5
I am much better off than four years ago. I am now in a very loving marriage. Sorry to get the conversation off track, you can all go back to talking about "stuff".
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Deleted
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Post by Deleted on Feb 13, 2011 14:25:52 GMT -5
We are not better off because of a decrease in wages due to a job loss. We are better off because we have used this to make us smarter with the income we do have.
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Post by privateinvestor on Feb 13, 2011 16:06:35 GMT -5
Are you better off than you were four years ago? Read more: www.notmsnmoney.proboards.com/index.cgi?board=politics&action=display&thread=3348#ixzz1DsJIGuNlProbably better off now that the economy is recovering and the stock markets are moving higher than anticipated. I may owe the state of California a lot less state income taxes this year compared to last year. But that could well change if Jerry Brown gets all the tax increases he wants to balance the state budget and keep the state out of bankruptcy. However looking forward, I would say that 2011 and 2012 are going to be two more years of slow or anemic economic growth. And higher taxes and a lower standard of living in northern California.
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flopsy
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Post by flopsy on Feb 13, 2011 18:50:37 GMT -5
i'm better off now than i was four years ago but that isn't saying much since i graduated college four years ago and had nothing to my name at the time : )
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burnsattornincan
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Post by burnsattornincan on Feb 13, 2011 19:17:03 GMT -5
I am now in a very loving marriage.
Congratulations. Good on California to accommodate you two.
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henryclay
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Post by henryclay on Feb 13, 2011 19:23:21 GMT -5
The author of the article didn't make any historical comparisons, so it is difficult to see where the country fits today with the past, except for the "entitlements" draw down on producers. And entitlements come in all shapes and sizes. One that may not be a household word is "Intangible Drilling Costs" that allows oil and gas companies to write off a portion of their costs in energy production. But without that write-off the cost of domestic energy would be higher, and the OPEC countries where we get so much of our petroleum products could gouge us even more and still be competitive. Of course we are getting something from that particular entitlement. There are a myriad of other entitlements that are less beneficial to us as individuals, and in fact competes with our own purchasing power at the grocery store.
That said, like most responses, I am “better off” than I was four years ago, and I am employed in a personal service industry that until now has been relatively recession-proof. I am fortunate also that, except for the value of my home with it's white picket fence having plummeted, the purchasing power of what I have saved over the years has not noticeably diminished. But I fear for the future.
The financial meltdown that the country is struggling to overcome was caused by unbridled debt. I read where the average American household is still carrying between 8 and 13 thousand dollars in credit card debt. That translates into from $1,500 to as much as $2,500 dollars a year in interest payments alone. I can't imagine how people can value their working hours so low that they make it necessary to support such debt.
Lenders on capitol items seem reluctant to repeat the mistakes of the last several years, and buyers, (maybe except for credit cards), are even less willing, (or maybe it’s less well postured), to take on new debt. The market for single family homes is just a staggering shadow of four years ago. That translates into a lackluster market for home building and refurbishing materials, which translates into a continued high unemployment picture. As a consequence economic stagnation will probably be the norm into the foreseeable future.
Then what?
British economist Ralph Hawtrey wrote “It is after depression and unemployment have subsided that inflation becomes dangerous.” And John Maynard Keynes said, “By a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and while the process impoverishes many, it actually enriches some".
I can only hope that my children and grandchildren will be among the “some”.
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handyman2
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Post by handyman2 on Feb 13, 2011 20:05:15 GMT -5
I think many are just treading water hoping for some change I know I am. Until all those huge container ships are unloading masses of amounts of goods onto our shores and and going back empty to countries like China etc, there will be little to no change. Our politicians need to face up and change the rules on global imports and exports whether other countries like it or not.
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handyman2
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Post by handyman2 on Feb 13, 2011 20:08:04 GMT -5
I think many are just treading water hoping for some change I know I am. Until all those huge container ships are unloading masses of amounts of goods onto our shores and and going back empty to countries like China etc, there will be little to no change. Our politicians need to face up and change the rules on global imports and exports whether other countries like it or not.
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handyman2
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Post by handyman2 on Feb 13, 2011 20:10:52 GMT -5
I think many are just treading water hoping for some change I know I am. Until all those huge container ships are unloading masses of amounts of goods onto our shores and and going back empty to countries like China etc, there will be little to no change. Our politicians need to face up and change the rules on global imports and exports whether other countries like it or not.
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busymom
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Post by busymom on Feb 14, 2011 9:21:37 GMT -5
Are we better off? It's mixed. We have reduced our debt level by a substantial amount, so in that sense we are better off. However, DH has not gotten any raises, and I (and my coworkers) have had our hours slashed at work, so income-wise we're doing worse. On the positive side, we've gotten VERY GOOD at making due with less, & we constantly compare prices on things like insurance costs, etc.
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workpublic
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Post by workpublic on Feb 14, 2011 9:23:44 GMT -5
no. four years ago i had a job.
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Post by privateinvestor on Feb 14, 2011 9:32:06 GMT -5
WASHINGTON, Feb 14 (Reuters) - President Barack Obama proposed a budget on Monday that would cut the U.S. deficit by $1.1 trillion over the next 10 years, but Republicans said it did not curb spending deeply enough to meet their demands. Conservatives say Obama, a Democrat, is a tax-and-spend liberal, and they aim to make the 2012 presidential election a referendum on his fiscal track record. Details of the proposal provided by the White House before its official release described a $3.729 trillion budget in which the deficit rose to $1.645 trillion in fiscal 2011, then fell sharply to $1.101 trillion in 2012. This trend would trim the deficit as a share of the U.S. economy to 3.2 percent by 2015 from 10.9 percent this year. "You've got both parties looking to reduce the deficit, it at least says that they are both looking at the same idea, that if we want to get elected we need to be deficit responsible," said David Ader, head of government bond strategy at CRT Capital Group in Stamford, Connecticut. www.reuters.comThe New York Times Editorial says Obama needs to take the lead on this budget deficit....but again his lack of leadership is troubling..
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Post by Savoir Faire-Demogague in NJ on Feb 14, 2011 10:32:12 GMT -5
It is my understanding that cuts to the fed budget are only to the discretionary segments of the fed budget, which amounts to only 10% of the total budget.
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jkapp
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Post by jkapp on Feb 14, 2011 10:32:16 GMT -5
Better than four years ago? That's a tough one...in 2007 I finally finished my college degrees and got a new job with ~30% raise over what I was making. I stayed on that salary, though, over the next three years. I finally got a pay increase this year due to a promotion. So my pay is slightly better... I relocated back to WI in 2008 from NV and I like it much better here (winter not withstanding ) so I guess that is better. I've had some small health issues come up - nothing serious, though, just annoying (damn eczema!). So in that respect I am worse off. So overall I think I am better off, but really just a little - mostly from my own efforts.
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Cookies Galore
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Post by Cookies Galore on Feb 14, 2011 11:50:52 GMT -5
Personally and professionally, I am in a better place than I was four years ago. I credit it mainly to my own doing and some of it is luck. I consider myself an even Steven; whenever something bad happens, something better comes along in its wake.
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thyme4change
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Post by thyme4change on Feb 14, 2011 13:10:46 GMT -5
I got stuck on #1. Wouldn't that mean you could buy more stuff then for $1 than you can now? I don't think that is true.
Is the rest of the list as meaningless as the first non-truth posted?
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safeharbor37
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Post by safeharbor37 on Feb 14, 2011 14:18:42 GMT -5
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