Ahh a vulture. That explains a lot.
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Sun is setting on the US Dollar as the world's informal, reserve currency
- Thread Starter ATCclears
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Ahh a vulture. That explains a lot.
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USDA data on SNAP (food stamps) as of Jan 10, 2014:
SNAP Annual Household Participation - Average
Note that this data is per household and not individual. There are no metrics given on individuals.
Changes between 2008 and 2013:
ID - 79.8% increase
OR - 49.1% increase
WA - 57.4% increase
I don't think there is a single State where the metrics have improved since 2008.
Peter
SNAP Annual Household Participation - Average
Note that this data is per household and not individual. There are no metrics given on individuals.
Changes between 2008 and 2013:
ID - 79.8% increase
OR - 49.1% increase
WA - 57.4% increase
I don't think there is a single State where the metrics have improved since 2008.
Peter
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That's because you're only looking at one metric, which means you're only looking at one side of the ledger.
It's like a new business owner who says "we had a million dollars in income last month!"
Cute, in a naive sort of way, but an utterly meaningless statement unless the other side of the ledger is included in the conversation.
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Jammer, I think you may have mentioned that you're doing tech/IT like me. That may be wrong. Dunno.
I do IT and have never been busier in my life, and making the $$$ to go with it. However, there are many more people falling down, and having even 10% doing well is not enough to continue paying the bills on the current social programs AND financing the ever-growing deficit. We are headed into a deep, two-tiered society in this country. You, I, and others will be investing more in various security mechanisms to ensure/attempt to continue a current lifestyle in this country in the future.
...and coming back to the original premise of this thread. Other countries are not blind to what is happening in this country. They see the risk of holding US Dollars and how it is becoming more likely of a major default in this country. It is like being owed a lot of money by a friend or relative, and that person takes on more debt without paying back what the owe you.
Peter
I do IT and have never been busier in my life, and making the $$$ to go with it. However, there are many more people falling down, and having even 10% doing well is not enough to continue paying the bills on the current social programs AND financing the ever-growing deficit. We are headed into a deep, two-tiered society in this country. You, I, and others will be investing more in various security mechanisms to ensure/attempt to continue a current lifestyle in this country in the future.
...and coming back to the original premise of this thread. Other countries are not blind to what is happening in this country. They see the risk of holding US Dollars and how it is becoming more likely of a major default in this country. It is like being owed a lot of money by a friend or relative, and that person takes on more debt without paying back what the owe you.
Peter
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Don't know where you got the idea I was IT.
The idea that we're headed for some kind of mad-max collapse because of the economy is comical.
If you're white collar IT, then you've been exposed the concept of critical thinking.
The idea that we're headed for some kind of mad-max collapse because of the economy is comical.
If you're white collar IT, then you've been exposed the concept of critical thinking.
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During the first/Great Depression, seven million people in the US starved to death and the US was essentially a giant farm, people were kinder, innovation everywhere, manufacturing booming in new technologies to pull us through.
This time around all of that is not the case. We are a service/consumer/debt economy, an empty shell. A nation of non-caring texting and twittering twits.
Food will be much more scarce also.
U.S. Cattle Herd Is At A 61 Year Low And Organic Food Shortages Are Being Reported All Over America
This time around all of that is not the case. We are a service/consumer/debt economy, an empty shell. A nation of non-caring texting and twittering twits.
Food will be much more scarce also.
U.S. Cattle Herd Is At A 61 Year Low And Organic Food Shortages Are Being Reported All Over America
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At least we can agree on one thing. When the collapse happens and jammer dies due to his own ignorance. None of us will miss him.
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Die? If what you guys are saying happens, I'll get richer.
So you are hedged (one way or another) against a currency event(s) involving the reserve status of the $US? Then why trash people who discuss it?
If the $US loses reserve currency status the people who will come out ahead are the ones who saw it coming and positioned themselves accordingly. The people (here in the US) who did not see it coming, and who did not at least hedge in one way or another, would suffer various degrees of pain, not "get richer."
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One of the reasons we are a bankrupt shell is military spending out of control, and more importantly the corruption of the Pentagon (remember the missing 2.6 trillion in 2001? - people were conveniently distracted by 9/11 to care). All of it is to enrich the .001%, and less for you.
Believe or not, we are still paying off debt to the banksters for the Civil War.
http://theeconomiccollapseblog.com/...we-are-approaching-a-global-economic-meltdown
Believe or not, we are still paying off debt to the banksters for the Civil War.
http://theeconomiccollapseblog.com/...we-are-approaching-a-global-economic-meltdown
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JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever
JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever | Zero Hedge
JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever | Zero Hedge
First step voluntary, next step mandatory.
Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World | Zero Hedge
Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World | Zero Hedge
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- #235
Not good.
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...and there it is.
From Politico:
And, on Wednesday, he will direct the Treasury Department to create MyRA, a retirement savings bond that "guarantees a decent return with no risk of losing what you put in."
From Politico:
And, on Wednesday, he will direct the Treasury Department to create MyRA, a retirement savings bond that "guarantees a decent return with no risk of losing what you put in."
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I'd sooner trust my retirement funds with that nice Nigerian fellow who emails everyone asking for money. Seriously, I've been waiting for this hammer to fall. But I'm paranoid according to the libs I work with, so...
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The wet dream of a banker or economist. One only has to look at Europe to see how poorly the idea of a super-currency (the Euro) is working for them.
Nothing Lasts Forever; World Bank Ex-Chief Economist Calls For End To Dollar As Reserve Currency | Zero Hedge
Peter
Nothing Lasts Forever; World Bank Ex-Chief Economist Calls For End To Dollar As Reserve Currency | Zero Hedge
Peter
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The MyRA Propaganda Begins: "A Start To A Secure Retirement" Promises Treasury Secretary | Zero Hedge
You didn't think the US could at first slowly, and then all of a sudden, expropriate retirement accounts and invest them in the "no risk, guaranteed return" MyRA Ponzi scheme introduced by Obama during the State of the Union address without lots of behavior-modifying indoctrination in the "friendly press" first now did you? Sure enough, here is the first major propaganda salvo, coming from none other than the US Treasury Secretary, Jack Lew, which will be published tomorrow across the McClatchy media empire.
* * *
Just out from the US Treasury Department, "In an op-ed to be published in the January 31, 2014 editions of McClatchy Newspapers, Treasury Secretary Jacob J. Lew discusses myRA - a simple, safe and affordable starter savings account to help low and moderate-income Americans begin building towards a more secure financial future."
myRA: A start to a secure retirement
Over the past five years, our country has accomplished a number of big things. The economy has grown stronger after being shaken to the core by the worst recession in our lifetimes. Our businesses have created more than 8 million jobs. The financial system is more resilient, with better protections for consumers and investors. And investments in domestic energy production have helped put the promise of American energy independence in sight.
In the meantime, health care costs have grown at their slowest rates in years while millions of families now have access to affordable health care coverage so they are not one hospital visit away from falling into financial ruin. Our auto industry is surging even as home values are rebounding. And the federal deficit has been cut by more than half.
So we have made clear progress. But we all understand that we are not where we want to be yet. Too many Americans cannot find a job. Too many Americans who do have a job are not getting paid enough to support their families and make ends meet. And too many Americans do not have the skills they need to succeed in today's economy.
As President Barack Obama made clear in his State of the Union address, it is time to focus on restoring opportunity for all. That means helping to make sure more Americans can take part in our growing economy and build some economic security for the long term. To get that done, we are putting forward real, concrete solutions to our most pressing problems—from college affordability and job training to fair wages and a stable retirement.
Now, when it comes to retirement, you would think that the vast majority of working Americans would be putting some money away for their future. But the truth is, many are not. For millions of working men and women, it is not easy to save for the long haul. Many employers do not offer a retirement plan. And setting up a retirement account and maintaining it can often be too difficult, expensive and time-consuming.
The statistics paint a stark picture. Only about half of all workers have access to an employer-based retirement plan, such as a 401(k). And left on their own, few workers save. It is estimated that fewer than one out of 10 eligible workers actually contribute to an IRA.
Still, every American deserves the chance to build a secure retirement. That is why the Obama administration has designed a new way for working Americans to start saving for the future. This program, which will begin later this year, is called myRA or My Retirement Account.
This account is designed to help low- and middle-income workers, who are too often overlooked or ignored, begin saving for retirement. We are talking about the waitress who is holding down two part-time jobs to support her kids; the recent graduate who landed a job but is grappling with student loans; the janitor who has never been given the chance to invest in a retirement account.
Here is how myRA, which is simple, safe and affordable, will work.
You will be able to start saving with an initial deposit of as little as $25 and contribute as little as $5 each payday. If an employer chooses to participate, contributions are made through automatic payroll deductions, making them hassle-free.
There are no fees—100% of any contribution goes into the account and is invested in a Treasury security. That means it will be backed by the full faith and credit of the United States, will earn the same interest rate that is available to federal employees for their retirement savings, and the balance will never go down.
Finally, myRA is not tied to any one employer—it belongs to the worker, not the workplace. In other words, the account is portable and can be easily rolled into a Roth IRA. And if myRA savers ever need to, they can withdraw their contributions tax-free, at any time.
MyRA is a specific way in which we can help hardworking Americans save for the future. But there are other things we can do. In particular, the President has consistently called on Congress to help tens of millions of middle class Americans save for the future by opening up access to automatic IRAs in the workplace.
And we will continue to look for ways to help increase economic security, strengthen the middle class, and provide more ladders of opportunity into the middle class. That is how we will help make sure every American can take part in this recovery. And that is how we will help usher in a stronger, more prosperous future for our country.
Jacob J. Lew is the secretary of the Treasury.
You didn't think the US could at first slowly, and then all of a sudden, expropriate retirement accounts and invest them in the "no risk, guaranteed return" MyRA Ponzi scheme introduced by Obama during the State of the Union address without lots of behavior-modifying indoctrination in the "friendly press" first now did you? Sure enough, here is the first major propaganda salvo, coming from none other than the US Treasury Secretary, Jack Lew, which will be published tomorrow across the McClatchy media empire.
* * *
Just out from the US Treasury Department, "In an op-ed to be published in the January 31, 2014 editions of McClatchy Newspapers, Treasury Secretary Jacob J. Lew discusses myRA - a simple, safe and affordable starter savings account to help low and moderate-income Americans begin building towards a more secure financial future."
myRA: A start to a secure retirement
Over the past five years, our country has accomplished a number of big things. The economy has grown stronger after being shaken to the core by the worst recession in our lifetimes. Our businesses have created more than 8 million jobs. The financial system is more resilient, with better protections for consumers and investors. And investments in domestic energy production have helped put the promise of American energy independence in sight.
In the meantime, health care costs have grown at their slowest rates in years while millions of families now have access to affordable health care coverage so they are not one hospital visit away from falling into financial ruin. Our auto industry is surging even as home values are rebounding. And the federal deficit has been cut by more than half.
So we have made clear progress. But we all understand that we are not where we want to be yet. Too many Americans cannot find a job. Too many Americans who do have a job are not getting paid enough to support their families and make ends meet. And too many Americans do not have the skills they need to succeed in today's economy.
As President Barack Obama made clear in his State of the Union address, it is time to focus on restoring opportunity for all. That means helping to make sure more Americans can take part in our growing economy and build some economic security for the long term. To get that done, we are putting forward real, concrete solutions to our most pressing problems—from college affordability and job training to fair wages and a stable retirement.
Now, when it comes to retirement, you would think that the vast majority of working Americans would be putting some money away for their future. But the truth is, many are not. For millions of working men and women, it is not easy to save for the long haul. Many employers do not offer a retirement plan. And setting up a retirement account and maintaining it can often be too difficult, expensive and time-consuming.
The statistics paint a stark picture. Only about half of all workers have access to an employer-based retirement plan, such as a 401(k). And left on their own, few workers save. It is estimated that fewer than one out of 10 eligible workers actually contribute to an IRA.
Still, every American deserves the chance to build a secure retirement. That is why the Obama administration has designed a new way for working Americans to start saving for the future. This program, which will begin later this year, is called myRA or My Retirement Account.
This account is designed to help low- and middle-income workers, who are too often overlooked or ignored, begin saving for retirement. We are talking about the waitress who is holding down two part-time jobs to support her kids; the recent graduate who landed a job but is grappling with student loans; the janitor who has never been given the chance to invest in a retirement account.
Here is how myRA, which is simple, safe and affordable, will work.
You will be able to start saving with an initial deposit of as little as $25 and contribute as little as $5 each payday. If an employer chooses to participate, contributions are made through automatic payroll deductions, making them hassle-free.
There are no fees—100% of any contribution goes into the account and is invested in a Treasury security. That means it will be backed by the full faith and credit of the United States, will earn the same interest rate that is available to federal employees for their retirement savings, and the balance will never go down.
Finally, myRA is not tied to any one employer—it belongs to the worker, not the workplace. In other words, the account is portable and can be easily rolled into a Roth IRA. And if myRA savers ever need to, they can withdraw their contributions tax-free, at any time.
MyRA is a specific way in which we can help hardworking Americans save for the future. But there are other things we can do. In particular, the President has consistently called on Congress to help tens of millions of middle class Americans save for the future by opening up access to automatic IRAs in the workplace.
And we will continue to look for ways to help increase economic security, strengthen the middle class, and provide more ladders of opportunity into the middle class. That is how we will help make sure every American can take part in this recovery. And that is how we will help usher in a stronger, more prosperous future for our country.
Jacob J. Lew is the secretary of the Treasury.
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