OldNavySailor

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    • Fri Oct 31st 13:57 PM | Rating: 0 0
      Commented on:
      Good for the Economy That We're Fighting a War...
      War is never a "good": for the economy, for civilization or the future of mankind. War has always been perpetuated by arrogance, greed, oppression, corruption and malice towards mankind. War is destructive to a nation's wealth, its relationship to the rest of the world and to the psyche of its citizens.

      The defense of the America people was never threatened by Iraq, yet our government has destroyed their country. I do not invest in companies that participate in the grandiosity of fascism and totalitarianism.



      View article »
    • Tue Oct 7th 13:43 PM | Rating: 0 0
      Commented on:
      Our Coming Depression
      I agree with everything written in this article. Mr. Quinn has written an accurate rendition of the historical opera of the 1929 - 1939 economic depression. No one can deny the similarities between then and now. How did the U.S. emerge from economic catastrophe?

      Massive spending by the government in lucrative contracts for business to build up military armaments for world war II is often cited as the genesis of the economic turnaround. The war effort put people back to work. But war was not needed to end the depression. The reality was the repeal of highly restrictive global tariffs (e.g., Smoot-Hawley in the U.S.) which stifled international trade would have been enough to turn the economy back around.

      Is a new world war the solution? No, putting the American people back to work is the only answer.

      Business needs capital to fund new enterprises, new channels of growth, new manufacturing here in the U.S. They need a financial incentive to rebuild the economy in the U.S. instead of seeking lower cost labor markets elsewhere in the world. There are many federal/state regulations that do not impact worker safety or the environment that can be scaled back to encourage a resurgence of capitalism back on American soil.

      The American people need to work to generate income to pay their debts and build up cash reserves. I believe they are learning to understand that 'debt equity' is a myth and unsustainable.

      In order to work they need affordable educational opportunities. Institutions of higher education must reduce the huge financial burden put upon our young people through excessive increases in costs for tuition, books, room and board, etc. The corporate profit model adopted by academia must be scaled back as it has contributed to the knowledge bankruptcy of America’s youth.

      Labor unions need to re-think their role in this picture. They will have to make changes as their demands on business for excessive compensation and benefits cannot continue as it drives employers away from the U.S.

      Broadcast media must contribute their share to rebuilding the economy as well. They must return to the independence of journalistic integrity instead of acting as corporate sock puppet propaganda machines.

      Unfortunately because the fascist corporatists control Washington, we will see more government intervention that will only protract and deepen the current recession. Instead of government reducing spending and shrinking in size, they will expand their power and control over the economy. The TARP act is a perfect example of how corporations have beguiled Congress with fear if they didn’t spend more of the people’s wealth.

      We, the American people have to act politically. This is our only hope short of armed rebellion. The two party duopoly of Democrat and Republican ideals no longer serves the people. Keep in mind that party affiliation is not what this country was founded upon. The American republic was created to escape the oppression of abusive government.

      Vote out the incumbents who represent corporate agendas and not your interests. If your congressional representative voted for the bailout, vote against him or her. Pick a third party candidate whose platform is close to what you and your family believe in.

      Be your own hero.
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    • Sat Oct 4th 12:36 PM | Rating: 0 0
      Commented on:
      Credit Crisis Reality TV: Upcoming Hearings
      Say, is the Department of Justice going to charge someone with conspiracy to commit fraud? I realize that stupidity and greed are not felonies, but given the magnitude of wealth lost and national debt increase, surely a crime has been committed!

      Unless the entire U.S. Government is corrupt, somebody has to go to jail!
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    • Mon Sep 29th 12:26 PM | Rating: 0 0
      Commented on:
      Close Down the Federal Reserve
      Folks, Congressman Ron Paul has been saying this for years, yet no one listens to him. He introduced a bill in the House of Representative back in 2007 to repeal the Federal Reserve Act
      (see: www.govtrack.us/congre...).
      View article »
    • Fri Sep 26th 13:34 PM | Rating: 0 0
      Commented on:
      The Short Selling Ban: Is CVS a Financial?
      How about this:

      Foreign based companies have their hand reaching into the U.S. Treasury as well
      (see short selling ban list published in theWashington Post at www.marketwatch.com/Ne...={2A9A51F5-621E-47F8-8... ):

      1. Bermuda

      ARCH CAPITAL GROUP LTD NEW,
      ARGO GROUP INTL HLDGS LTD,
      ASSURED GUARANTY LTD,
      ASPEN INSURANCE HOLDINGS LTD
      ALLIED WORLD ASSUR CO HLD
      AXIS CAPITAL HOLDINGS LTD
      I P C HOLDINGS LTD

      2. France

      AXA UAP - a life insurance company with a market capitalization of 73.1 billion.

      3. Canada

      BANK OF NOVA SCOTIA
      MANULIFE FINANCIAL CORP
      SUN LIFE FINANCIAL INC

      4. Chili

      CORPBANCA

      5. China

      CHINA LIFE INSURANCE CO LTD

      6. Ireland

      ALLIED IRISH BANKS PLC

      7. Israel

      ELBIT IMAGING LTD - a property management company. What does this have to do with finance?

      8. Netherlands

      AEGON N V

      9. Panama

      BANCO LATINOAMERICANO DE EXP SA

      10. Switzerland

      ACE LTD

      11. United Kingdom

      BARCLAYS PLC
      PRUDENTIAL PLC

      12. Germany

      DEUTSCHE BANK AG

      This will be the greatest robbery put upon the American people since the inaction of the Federal Reserve Act of 1913!
      View article »
    • Wed Sep 24th 10:55 AM | Rating: 0 0
      Commented on:
      Wall Street Breakfast: Must-Know News
      It's my limited understanding that credit (loans to industry/citizens) will shrink to unsustainable levels for the economy if the Congress doesn't fund the Paulson/Bernanke tag team proposal. Major lenders/investors will go bankrupt and their assets sold off to the private sector. Is this correct so far?

      Now, I believe the US treasury will still have the capacity to print inflated fiat dollars, unlike the depression of the '30's which limited the printing due to the gold standard. So inflation will rise, but money will still be available to the rest of the lenders who are not part of the problem. That means regional banks as an example, through their state charters potentially could receive federal treasury loans to offer to industry/citizens.

      I am suggesting all is not loss for the world economy due to a credit 'freeze', but only that high profile financial companies will suffer the consequences of their own actions.

      I would like to explore this scenario, if only to educated myself as to other options the Congress could consider instead of trusting what the former CEO of Goldman Sachs is saying.
      View article »
    • Fri Sep 5th 11:02 AM | Rating: 0 0
      Commented on:
      Why Buy MLPs?
      MLP's as part of your IRA have one negative aspect: the evil UBTI (Urealized Business Taxable Income) tax!

      If the sum total of UBTI for all your MLP's held in an IRA exceeds $1,000 annually, you will have to pay tax; even though the account is an IRA. Most of the MLP's I hold in my IRA have a negative UBTI so I never have had to pay any tax. But if you do, you will have to get a separate tax ID to file.

      Look at your K-1's for the past year at line item 20: OTHER INFORMATION. Usually UBTI is coded using the letter "V".
      If it is negative, you're okay. It the income is positive, it can be offset with other MLP UBTI that is negative. If you exceed the threshold of $1,000. you owe the tax. So, watch out!
      View article »
    • Fri Aug 22nd 11:34 AM | Rating: 0 0
      Commented on:
      Fear Not Yet a Factor
      apppro, I agree with you, shorting stocks is not beneficial for the free market; it is an abomination.

      How does one legally sell something for which they do not have title? I am far from knowledgeable about the history of short selling, so I rely on experts in the field of investing. One of those persons is Bob Chapman; a man who speaks the truth about the state of financial markets and the world economy in my opinion.

      Here is Bob's explanation regarding the scam of short selling:

      theinternationalforeca...

      His website has many articles regarding where the economy is headed, which we all know is bleak to say the least.
      View article »
    • Sun Aug 3rd 12:04 PM | Rating: 0 0
      Commented on:
      Is the U.S. Banking System Safe?
      Move your money into a credit union that is a member of NCUA (National Credit Union Administration). It's safer than a commercial/investment bank and is insured (see: www.ncua.gov/AboutNCUA...). Each member has to provide a quarterly report of financial condition called a 5300 report. You can finds a credit union and view its report on the Web (see: www.ncua.gov/indexdata...).
      View article »
    • Wed Jul 30th 11:29 AM | Rating: 0 0
      Commented on:
      Another American Money Pit: Infrastructure
      More and more astute citizens are picking up on the fact that our government has become a fascist totalitarian state.

      What can we do short of armed rebellion?

      Vote out all incumbents that's what!!

      Every candidate for federal, state and local political positions are part of the kakistocracy that is ruining America! Ask yourself; does the government sector shrink when private industry declines? No it doesn't. Budgets continue to escalate in mandated and unfunded crushing debt put upon us.

      The ONLY way to correct the problem is for the American people to vote them out of office. A mass purging of the jobbery that has broken the trust of the electorate must happen to save our country.

      Break the stranglehold in government by voting for a third party candidate if possible; but DON"T RE-ELECT THE POLITICIANS CURRENTLY IN OFFICE!
      View article »
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