to know that if things keep on social security wont apply to him . He is smart eough to know as a pay out SS has an an expense fee of 3 % so it works realllly well , He knows he has (2) great aunts in their 80s that rely on social security after both their husbands served in WW2 and all 4 worked and paid in. he knows that taking care of our elderly means more that saying its a ponzi scheme. He knows global warming is real and accelerated by human activity ,he knows he is in deep shit and he votes along with me in areas that match his views,He knows 401 k s are not the vehicle for self employed like his dad he knows I am an investor as a self employed individual ,whose health care is way prohibitive because he is self employed,He knows we don t qualify for college tuition help because his dad tries to make sure his private investments dont make old guy responsible for clovis 's retirement . so thanks for the civic lesson. not sure we needed it but eve so grateful to know we werent up to your standards on civid\c resposnibility

There ya have it: a liberal (who's always looking for more government intervention) admitting the government's idea of retirement (social security) ain't working. You're a smart man, Clovis, so when you see a failed government project like that, why do you think you want more of them? I predict we'll run completely out of Band-Aids if we have socialized medicine. They can't pave roads ...

I want the choice for my retirement plan. I'm self-employed too, and I don't want to dump another cent into SS. 401k's are much better, but I'm not sure why you say it's not for the self-employed.

Shocker: global warming is caused by the sun. Keep - or start - reading the other side. High levels of carbon have been here before. Keep looking, it's there. We're heading for another ice age, and this is how it starts. I have seen snow every week since the first week of November. Call it climate change if you want, but the globe's not warming, and you and I can't do shit about it. It's yet another huge hoax heaped on the American people so we'll feel bad and pay up.

So ask yourself this: how can you freak out over an average warmth in the past 100 years of 0.7 degrees Fahrenheit but you don't freak out when it's 40 degrees at your house at 4 am, and 70 degrees 6 hours later at 10 am? Sun, grasshopper. Sun. It varies. The earth's climate varies wildly, and always has. Even before you were born.

even the republican Mccain gets it,but you want to argue somethign where you frame the debate .indeed global warming has happened and will happen again , the question is whether we humans and the industrial age (which are unprecented in hoistory since the birth of the planet have had an effect .. Human Responsibility for Climate Change
The report finds that it is “very likely” that emissions of heat-trapping gases from human activities have caused “most of the observed increase in globally averaged temperatures since the mid-20th century.” Evidence that human activities are the major cause of recent climate change is even stronger than in prior assessments.[3]

Warming Is Unequivocal
The report concludes that it is “unequivocal” that Earth’s climate is warming, “as is now evident from observations of increases in global average air and ocean temperatures, widespread melting of snow and ice, and rising global mean sea level.” The report also confirms that the current atmospheric concentration of carbon dioxide and methane, two important heat-trapping gases, “exceeds by far the natural range over the last 650,000 years.” Since the dawn of the industrial era, concentrations of both gases have increased at a rate that is “very likely to have been unprecedented in more than 10,000 years
click here not that the facts wil change your mind . fotunately all the candidates get it. as for soical security working , it provides benefits for about 3 % administraive costs the only thing wrong with social security is politicians treat it as theere personal slush fund year after year. social secuity are viable and worth maintaining .. at what point did you decide older americans arent worth looking after . at what point did youdecide medicare didnt give you the most bang for our tax payer dollar? i dont agree with you on that . Me making sure I dont have to rely on them is just prudence on my part .who knows what spend an no tax republican might take office .. the only thing worse that tax and spend deomcrats is republicans who just spend . I saw an e-mail showing how taxes dropped under bush compared to clinton the other day , but no chart showing how our deficit doubled in the meantime.you boys want wars , nation building , tax cuts for the wealthy etc. but you dont want to pay for it leave it to the grand kids, thats the true ponzi scheme . reduce regulation on consumer items and food then wonder how come we get tainted toys , and food , reduce regulation on financial institutions and then wondder why our financial system is about to collape on ponzi schems of derivitavie bond markets , sub prime mortgages packed as grade A investments etc. As for cant pave roads ,,errr you arent that young , the interstate system you enjoy was established by eisenhower builkt priamrily with federal money . claean water plantss were built and mandated by federal government back in the day . government can work but its a funny thing , you put people in charge of government who believe government is evil and ineffective and you get .. guess. old guy you enjoy the fruits of a government that worked well for most americans for a lot of years , at this point you are part of the problem , not the solution .

McCain is about as Republican as ... well, you.

the question is whether we humans and the industrial age (which are unprecented in hoistory since the birth of the planet) have had an effect

Ah, so you admit it's a question and not gospel. That's all I wanted you to do.

The report also confirms that the current atmospheric concentration of carbon dioxide and methane, two important heat-trapping gases, “exceeds by far the natural range over the last 650,000 years.” Since the dawn of the industrial era, concentrations of both gases have increased at a rate that is “very likely to have been unprecedented in more than 10,000 years not that the facts wil change your mind

Which fact is that? That carbon dioxide and methane levels are going up? That's a no-shitter. It's also a fact they've always gone up between ice ages. It's the ol' chicken and egg problem: they don't know which comes first, or why. Doesn't matter to me anymore, and here's a hint why: it's happened before, back before we were here. It's another bullshit scheme, just like acid rain, etc. Remember 30 years ago? It was global cooling then. We've made great strides in science but we only know maybe one answer out of every million questions. Stick around another 50 years and we'll all laugh about global warming, snug as a bug in our thermal underwear, watching fireworks on the 4th of July. We were supposed to have record numbers of hurricanes in 2006, and not a single one. I've seen snow every single week since Halloween, it even snowed in Missouri last weekend. Get it yet?

Social security: 1% return on your money, and the govt. (AKA congresscritters) can get their greasy mitts on it. Go private.

War: I never wanted one, but some people just need killin'. I'm guessing there'll be more.

Medicare/Medicaid/Worker's Comp, etc: ain't worth a shit. My mom's on Medicare and I could write a book on the idiot BS thereof. My wife fell at work 7 months ago so she falls (pun intended) under Worker's Comp, and they still can't figure out who her caseworker is, honest to God truth. She's had some back pain and pain in one arm, and so far she's seen 4 different doctors. The first one's report said they'd do an MRI on her arm/wrist, and said that was her only complaint ("forgot" the back pain). Cleared that up. The second one checked out her neck and shoulders, and "forgot" about her wrist. Cleared that up. This goes on and on, never ending. The fourth one wrote that she didn't want any further treatment. WTF? She hasn't had any treatment yet! So now she's fighting with Worker's Comp. Seven months and they can't even figure out who her caseworker is? Come on, Clovis ... think about it. Since it's a Worker's Comp deal - government rules, too - we can't just go to our family doctor, who was hand-picked because she didn't have her head up her ass. But four Worker's Comp doctors later, we still can't find one who can find their own ass with both feet. Er, wrists, or hands, or whatever those things are called ... it's just another failed government intrusion.

Tax cuts for the wealthy: I make more than you, so I pay more in taxes. Period. Bush probably paid more in taxes last year than I grossed, so I don't get what a "tax cut for the wealthy" means.

reduce regulation on consumer items and food then wonder how come we get tainted toys , and food

We have buttloads of regulation and still get tainted toys and food. Another failed government intrusion.

reduce regulation on financial institutions and then wondder why our financial system is about to collape on ponzi schems of derivitavie bond markets , sub prime mortgages packed as grade A investments etc.

If you invest in derivative bond markets you're an idiot. If you took a subprime mortgage and thought your payment would stay the same no matter what you're an idiot. If you did both you should be shot on sight. Caveat emptor. Nobody's forced to do either in this country. I don't buy snake oil, do you?

As for cant pave roads ,,errr you arent that young , the interstate system you enjoy was established by eisenhower builkt priamrily with federal money

And hasn't been maintained worth a shit since. They've collected a gazillion dollars for "maintenance and improvements" over the years, and very little of that went to those two items. Now we're way under capacity, so what's the next step? Toll roads. As if we didn't already pay for what they're allegedly going to use the toll money for. Texas has damn good roads, but go to your neighbor Louisiana and let me know how you feel. Take a spare kidney.

And I wouldn't say I enjoy the interstate, I'd rather run the "blue highways", and usually do, all things being equal. But that's a personal choice.

claean water plantss were built and mandated by federal government back in the day .

Still are. Here in my town, they recently had to upgrade theirs. So here's the dipshit part: instead of spending $1.5 million grant money on a plant that would've always been large enough for the town, they decided to spend $600,000 grant money on "improvements" that'll last 25 years assuming the town doesn't grow (even though it is). So what do they plan to do in (less than) 25 years? Spend another $1.5 million grant money to do Plan A, improve capacity up to the max size possible regardless of town growth. Now, only to a dumbfucker in government would it make more sense to spend $2.1 million instead of $1.5 million to get the exact same product. The grant money was there ... probably still is, too. But now they'll see it as a surplus, and fund a $900,000 study on why woven carpet is different than shag. Or they'll buy a $900,000 sculpture of a boll weevil and put it in the State Capital.

government can work but its a funny thing , you put people in charge of government who believe government is evil and ineffective and you get .. guess.

You put people in charge of government who believe government is pure and effective and you get ... guess. Same thing: corruption and empty pockets.

old guy you enjoy the fruits of a government that worked well for most americans for a lot of years

There are not many fruits of government to enjoy, but there's alot of nuts. Texas government is better than most but you wouldn't know that unless you travel extensively. Most Texas roads have actually been paved in the past 100 years, often by the low bidder. Go to your neighbors Louisiana or Oklahoma, where roads are required to be maintained by the state, and you'll see the difference. Shitty work done by the only bidder. Same with the Highway Patrol and other law enforcement in those three states: you get a quality product in Texas, and the other two ... aren't always. I could go on and on about that too.

at this point you are part of the problem , not the solution .

Not me. I want less government. We get better health care from a provider we chose in a podunk little town than we get from a team of doctors in the big city who can't even figure out who's in charge. Our 401k did about 4 times better in our "failing economy" than our social security fund earned. But you keep on kidding yourself that you're getting a decent product for a fair price.

quick one on one point ..,Tax cuts for the wealthy: I make more than you, so I pay more in taxes. Period. Bush probably paid more in taxes last year than I grossed, so I don't get what a "tax cut for the wealthy" means.ererr you keep thinking you are wealthy , and you are in the sense you have what you need and the love of your life , , thats not an easy challenge to meet , even for a truck driver ...or an electrician But like warren buffet continues to say and offer to any member of the forbes 400 , if any of them pay more of a percentage of their annual income than their receptionist or even the same, he will donate a million dollars to charity of their choice. no takers . your view on it , "I make more money than you and could afford it better than you , but I make more so I should pay a smaller percentage." back to all animals are equal ..some are more equal than others.and I understand you make so much more than me ..but I wager your percentage paid is not that much more different than mine , you are not at that break out level your ass seems to think.

while I have a few minutes ..yanno us liberals out there living the gravy train off your money .my quote and your response
"reduce regulation on financial institutions and then wondder why our financial system is about to collape on ponzi schems of derivitavie bond markets , sub prime mortgages packed as grade A investments etc."

If you invest in derivative bond markets you're an idiot. If you took a subprime mortgage and thought your payment would stay the same no matter what you're an idiot. If you did both you should be shot on sight. Caveat emptor. Nobody's forced to do either in this country. I don't buy snake oil, do you?
December 1, 2007 (LPAC)--In total, in the entire world, only about 30 of these "Structured Investment Vehicles," exist. SIV's, as they are commonly called, were invented by the world's major banks, primarily to keep worthless debt off their own accounting books. Now, their scheme is about finished, and threatens to take some state governments along with them."click here from former libertatian presidential candidate Lyndon La rouche and this one Economist's View
« The Gospel of Wealth | Main | Jason Furman: The Effect of the 2001-06 Tax Cuts on After-Tax Incomes »

September 06, 2007
The Role of Structured Investment Vehicles in the Recent Financial Crisis
First, news that liquidity problems in the financial sector are continuing followed by an explanation of why the crisis is so widespread:

ECB and Fed intervene in money markets, by Ralph Atkins and Michael Mackenzie, Financial Times: The European Central Bank and the US Federal Reserve intervened in the money markets again on Thursday, with the ECB injecting €42.2bn and the Fed adding a total of $31.25bn into temporary reserves, more than market participants had expected. ...

The operation, making extra cash available for one day, followed a surge in overnight interest rates this week that has set back the ECB’s hopes that conditions in money markets were normalising. ...

Update: The WSJ Economics blog says:

Level of Outstanding Commercial Paper Falls, by Anusha Shrivastava : The outstanding level of commercial paper dropped again in the latest week, but a smaller decline relative to previous weeks suggests the credit crunch in short-term debt markets isn’t getting worse.

The bulk of the decline in the week ended Sept. 5 was in the asset-backed commercial paper segment, where investors have proven most reluctant to finance companies’ short-term borrowing needs due to the subprime mortgage contagion in that area. ...

Thursday’s data shows that “while tensions remain elevated, conditions may not be getting worse,” wrote Marc Chandler, currency strategist at Brown Brothers Harriman, in a note.

This paper looks at a puzzle about the crisis, how the relatively small value of the defaults in the subprime market turned into such a widespread crisis. The argument is that structured investment vehicles (SIVs), which borrow short and lend long and are hence subject to liquidity problems, provided a conduit through which risk that was supposed to be diversified away unexpectedly returned to banking intermediaries and led to more systemic problems. A summary:

Securitisation transferred credit risk from bank’s balance sheets to the market. The subprime problem became a crisis when some of this risk landed back on banks. Regulators need to find a way to deal with the off-balance sheet operations of banks that made this possible and to improve transparency concerning banks’ effective exposure to risk. click here which was my point it is inherent in the system old guy . you say you are too smart to invest in derivciatives ..really? own bonds or a fund with them in it , you havemutual funds handled by a large financial company ? have money in a bank?

to be way to close to the mark on reality .Old guy i would have just as soon turned out to be totally wrong on the financial crisis . I read too much.The latest failure of citi bank after the current treasury secretary just 2 weeks ago said all was good with the remaining institutions scares me again , plus the involvement of the fprmer clinton treasurey secretary Robert Rubin , in citi banks bad decisions . Bush is paralysed and a dead man walking , Forbes magazine the ultra right wing financial magazine has rated paulson as the worst treaury secretary in history and we have 2 more months of paulsen and bush .. really truly GW is a deer in the headlights , his trreasury secretary is incompetent and powerless in the biggest financial crisis in the US since the great depression .. perhaps GW should just resign , or at least his treasurey secretary and appoint obamas pick from the federal reserve ..folks let me just tell you a complete meltdown at this point is probably at least a 1 in 3 chance . I myself have lost over half my retirement in the last 2 months ( over a 100 grand ), we are close to a global collapse and the bush admin is clueless and doing little to avert it .

your response to mine on Iraq war was War: I never wanted one, but some people just need killin'. I'm guessing there'll be more.err for someone who hates wasted government effort thats like saying "everyone likes puppies " whats wrong with you dont like puppies? Washington - The war in Iraq has become "a major debacle" and the outcome "is in doubt" despite improvements in security from the buildup in U.S. forces, according to a highly critical study published Thursday by the Pentagon's premier military educational institute.
The report released by the National Defense University raises fresh doubts about President Bush 's projections of a U.S. victory in Iraq just a week after Bush announced that he was suspending U.S. troop reductions. click here rather facetious retort on your part considering its costing the american tax payer 12 billion dollars a month and we are over 4000 dead and 30,000 wounded , not counting the hundreds of thousands of iraquis .

man i post about you trying to frame it to your expectations and how do you reply Global Farce
Submitted by OldGuy on Wed, 2008-04-16 10:03.
McCain is about as Republican as ... well, you.

Ah, so you admit it's a question and not gospel. That's all I wanted you to do. totally ignoring the appropriate text and quote ,it didnt fit in to your gospel "Human Responsibility for Climate Change
The report finds that it is “very likely” that emissions of heat-trapping gases from human activities have caused “most of the observed increase in globally averaged temperatures since the mid-20th century.” Evidence that human activities are the major cause of recent climate change is even stronger than in prior assessments."[3]err thats rated at a 90% possibility .. one of us doesnt look at the evidence .. I am not near so sure you can claim its me