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Wow this Biderman fellow better sleep in a cast iron bathtub. Don't forget what they did to Kennedy.
You're actually a judge?
Too scared to do something about the mafia running this wreck?
I'm The Great Judge Judy!
Theatrical arbitration engineer.
Judge, The truth be know, "They" the Federal criminals are more afraid of their own comrades than people they pursue.
When the Cops become the criminals, crime becomes the law. Not even their Mother will forgive them for that.
QE3 then default, inevitable.
Well, if the zerohedge article from a few days ago is true, the Fed won't be providing a QE3 and the economy will collapse immediately upon actual realization of that fact.
Anyone know what percent of U.S. wages are government wages? (fed/state/local). This would give us a good picture of the weight being carried by the producer class.
I just found this: 20 million state and local government workers in U.S. today:
"Figure 1 shows that there are about 20 million state and local workers in America today: 14.3 million local and 5.2 million state employees." Article date 1 Feb 2011.
And now I found this: http://www.washingtontimes.com/news/2010/feb/02/burgeoning-federal-payro...
So now we got a number: 22 million plus government employees in the U.S.
From here: http://www.slge.org/vertical/Sites/%7BA260E1DF-5AEE-459D-84C4-876EFE1E40...
we get starting points for extrapolating average salaries for these sectors: I'm going to use $70,000 for federal and $48,000 for state/local.
20 million state/local = $960 Billion.
2.15 million federal = $147 Billion.
Call federal/state/local government employees = $1.1 Trillion annually.
OK found it: http://research.stlouisfed.org/fred2/series/A063RC1?rid=54&soid=18
"Government social benefits to persons (A063RC1)" The number is $2285 Billion. From this one: http://research.stlouisfed.org/fred2/series/A576RC1 "Wages and Salary Disbursements" we get a total payroll for the U.S. of $6527 Billion. If we add the above $1.1 Trillion in government employment cost, then the numbers are more interesting. Government costs $3385 Billion, of a total wage base of $6527 Billion. Sweet!
The average pay of the municipal employees(478) in my northeastern Illinois city, population 89,000, is over $69,000. Our police and fire pensions are only funded at 39%-41%, respectively.
Which means that society's producers now make less than society's parasites.
is that 1.1 Trillion not included in the $6527 Billion? Bet it is, so it should come out. . . I'm not going to do it because these numbers are already spectacularly shitty (which is maybe why I'm up at 3:15 am posting on Zero Hedge)
Do these figures include the military?
I have to say, the one thing I will feel bad about is when the older generation realizes they won't be getting the pensions they expected to receive.
Here's the real question we should all ask ourselves. If the economy really is "recovering", how do we plan on balancing our trade deficits? How much are people really willing to work for in order to compete with Chinese workers?
I cashed out all my retirement fund accounts taking a substantial hit in taxes. I then turned all that fiat cash into mostly silver and some gold to "diversify". This was when Silver was $12 an ounce. As Charley would say "winning"!
Two things are necessary to get the economy back into shape:
- Trim unemployment insurance back to a reasonable duration -- say, four months.
- Eliminate minimum wage laws.
In connection with the latter, I'd like to see some kind of restraint on executive compensation, perhaps in the form of an extremely high marginal tax rate.
job benefits are a drop in bucket
social security was a premium paid from the people .. looted by the government
1) cut military spending why are policing the world , on lies about 95%
2) cut the federal education dept . off and the other agencies that just stifle growth
3) let the banks fail,
4) stop the war on drugs
5) get rid of federal reserve .. why pay those suckers a dime out of the public purse
6) eliminate pay bull shit ,, eliminate your pay ... why tax get rid of tax.
cut to the bone the government
put all public servants on min wages. then sure cut min wages back some more.
if they diont like it they can ALWAYS GET A REAL JOB.
Since we are talking solutions, it is way too late to fix the current system. Here is straw man at the fix:
Let the country go bankrupt, forgive all government debt
Abolish Federal reserve and move back to gold standard
In the short term give out SS to all retired folks but migrate to SS for only the bottom 33% of the workers.
Medicare needs to be reduced as well to the bottom 33% with limitations on coverage
Campaign contribution reform
Massive tort reform.
Transfer power to the states.
A bank tax
That would be a good first pass.
I would add, level a tarrif on all goods entering the United States that we see fit. Pull some good old Asian mercanitilism on the rest of the world.
Sorry, but I feel worse for my generation (age 35) and my kids. The people retiring right now have been taking with both hands for 30 years and putting it on my tab.
You may grow to love slavery. Worship at the alter of Goldman Sachs and JP Morgan.
Chet, are you enraged yet?
The future for old baby boomers - "loosing."
How can I get in line for my cut? LOL OMG, we are doomed!
would like to see the US stacked up against other G7 sovereigns. If Germany is 45% gov't spending and France is 42%, that might be supportive of the $ no?
How about if we subtract all government spending from GDP everywhere? Then let's look at those numbers, because government spending is consumption- not production. The global economy starts looking pretty small.
Then lets apply that number against private market GDP, as it really should be subtracted and find out just how many countries are net positive.
Then, we can put the monopoly board away and go back to using real money. As JP Morgan would say, "gold is money".
excellent and excellent, Inconvenient and Sean. . . going to do some research
British public sector spending / GDP = 53.1%.
All hail the magic of Gordon Fucking Brown, and his elimination of boom and bust.
Seriously, that guy is the biggest financial disaster these isles have ever seen, counting WW2.
Free market, biatches!
Can't wait for this monster to bite the dust.... another one down, and another one down... another one bites the dust!
HEY, IT'SGONNA GET U TOO!
ANOTHER ONE BITES THE DUST!
There will be inflation or total collapse!
There will be inflation then total collapse!
Fixed it for you...
You mean Manhattan and Connecticut are out of touch with reality like Charlie Sheen is.
That is really an insult... to Charlie Sheen.
California unemployment is higher than Michigan's. More QE going away?/no way. Fook hyperinflation....the Ponzi is too far along to go down easy now.
Free fiat for votes biatches!
Have you something against government spending, welfare and real estate programs???
I can't believe the bigotry and totalitarianism of libertarians.
The cost to the global economy if we ended these programs would be astronomical.
As I've said on a previous post concerning the unemployment rate (which has recently reached a low of 9.7%), we opened two consumer discretionary stores in Detroit and we are simply amazed at the profits we make.
This city is very wealthy, everyone is profiting from it (including racist libertarians), and this wealth would not exist without government programs.
in a word?
Without real estate programs (Fannie Mae, Freddie Mac), Americans would never had any chance of profiting from the biggest real estate bull run in history.
Many fellow Americans have become rich during this period, including members of the proletariat. Libertarians bitching about government spending are those who never managed to profit from it.
so hammy you set by with your drivel and wipe your drooling mouth as your Keynesian's rob and plunder the world
why is it that you like to see poverty , death , wars . so you can spout bullshift
Watch the drones kill the foreign babies with the social program of the stupid
Hamy, it is hard to believe that somebody who reads zerohedge could be so clueless.
Have you something against government spending, welfare and real estate programs???\\
so hammy your for government spending on wars// looks like that defense budget is right up your alley .. of stupid
the program you want is a social killer . plunder the world , sow inflation. poverty . death world wide . so you can spout abject stupidity
what happend to the money you parent paid to send you to school part on government expense ;wasted
truly a pointed head ignoramus
What is going to be "astronomical" the the total collapse of the US Dollar (Think Zimbabwe) and what happens to all those people that have been sucking at the government tit when it dries up. Sure; you'll get that Social Security check but it wont actually buy anything or you'll take out your medicare card and the doctor laughs at it.
"Total collapse" of the US dollar???
Dude, you're smoking something not very clear.
No way the USA ever go bankrupt. We are the richest country of the world and we'll stay that way for two centuries more.
I'm getting bored of your predictability. You have to add more variety to your act.
I don't understand what you're saying. But I suppose you're one of those bigot, nerdy libertarians.
You must accept that the destiny of every civilized country is to become a Welfare state, which is the paragon of human generosity, tolerance and progressism.
The United States of America are already in good progression (47% of gov. spending/GDP), but that's not enough. That's why people like me spread the good talk on the Internet and elsewhere.
Socialism -- and the economic recovery -- are the destiny of mankind. Libertarians can't fight the forces of nature.
Heh, yeah that's more like it. A bit of fighting spirit. I like how you instantly jump to the conclusion that I'm a "bigot, nerdy libertarian" despite supplying NO evidence in my previous post that I am.
Welfare state, which is the paragon of human generosity, tolerance and progressivism.
Welfare state, which is the paragon of human generosity, tolerance and progressivism.
I think I would much rather be known as, and die as, a bigoted, nerdy, Libertarian then live as a part of your satirical NWO's brain dead, human cattle collective. Keep up the posting HW, you represent the mind set of the slave state with true alacrity and articulation.
10k comedians out of work, and you're givin it away for free . . .
HamyWanger on Tue, 03/08/2011 - 18:13#1031208
hammy you are by far the biggest biget in the hisrtory of worlds
are a keynesian killer of people , plunderer of good ,
love wars , love poverty, unemployment and the like
someone needs to slap you across the face and make you take a basic course in Austrian economics
some thing on the first grade level
go read Roll Back By tom woods
then count to ten and go soak your head in a gallon of water . for stupidity
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