MONEY: Pensions are an attractive pot of money

Monday, January 10, 2011

http://washingtonexaminer.com/blogs/beltway-confidential/2011/01/europe-starts-confiscating-private-pension-funds#ixzz1A4bDsXPq

*** begin quote ***

The article goes on to detail other pension grabs in Bulgaria, Poland, France and Ireland. Obviously, this is a cautionary tale for America. If fiscal austerity becomes a real issue in the U.S. the way that it’s been reaching critical mass in Europe — don’t think that U.S. lawmakers regard your either your personal wealth or money they might owe you as sacrosanct. Government has a habit of looking out for itself.

*** end quote ***

Too arms! To arms! Bad ideas have a way of flowing over “the pond”. Where will politicians find a lot of quick easy money? Sure, your retirement! And, the politicians and bureaucrats only have to strong arm about 2200 “custodians”. Who happen to be the very people that were “bailed out” with taxpayer money last year. So how much of a bonus did you get, Taxpayer? Mine must have gotten lost in the mail. I’d suggest that everyone take keyboard to hand and share this story. Then, get to your congress critter with a stern warning — keep your mitts off my retirement! Argh!!!

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POLITICAL: USPS, an idea who’s time has past

Monday, January 3, 2011

http://www.downsizinggovernment.org/usps

Privatizing the U.S. Postal Service
by Tad DeHaven
November 2010

*** begin quote ***

Although the law says that postal employees should receive wages and benefits comparable to what they could earn in the private sector, the majority of economic studies examining the issue have concluded that a postal pay premium of 20%– 25% exists if just wages are counted and about 35% if the Service’s very generous benefits are also included. {33}

*** and ***

The USPS is in a financial death spiral because of the myriad factors discussed. It faces a projected $238 billion in losses over the next 10 years under the status quo. To avoid a large and growing burden from being foisted on taxpayers in coming years, the USPS should be privatized and postal markets open for competition from FedEx, UPS, and upstart entrepreneurs.

*** and ***

Policymakers resistant to reform often depict the USPS as a “national asset” that “binds the nation together.” But these days, it’s the Internet and our telecommunications networks that bind families and businesses together across the nation. It’s time to let go of the nostalgia for the USPS and bring America’s postal services into the 21st century with privatization, open competition, and entrepreneurial innovation.

*** end quote ***

Of course, “Con”-gress gives itself free mail privileges. And, it is up to its “elbows” in local post office placement and such.

I can’t imagine what the free market will provide, but I’m sure it will.

Think about UPS and FEDEX released.

I’m sure they can do better.

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POLITICAL: So how do we apply the calculation problem today

Saturday, November 6, 2010

http://www.lewrockwell.com/north/north900.html

The Police State Is Doomed
by Gary North

*** begin quote ***

In 1920, Ludwig von Mises wrote a short essay, “Economic Calculation in the Socialist Commonwealth.”

He argued that socialist economic planning is inherently blind. Without free market prices that are based on private ownership, the government’s central planners have no way of knowing where to allocate scarce resources. This is especially true of capital goods. The planners are forced to copy prices in the non-socialist societies. This was his theory. It turned out to be correct in practice.

*** end quote ***

Today, in the Gooferment, they don’t know how to use capital or expense dollars? It’s obvious every time you look at their pronouncements. Real people make decisions about trade offs all the time: If I do X, it precludes Y. Does the Gooferment even have the concept of capital and expense? Look at New Jersey’s version of the Big Dig, the new trans-Hudson tunnel. The Guv is expecting a cost overrun. And, how does that get paid for? But the bigger question is: does it make economic sense? A private entrepreneur investing his own capital would say: does the roi exceed the cost of capital? The Gooferment can’t even phrase the question. They don’t know the answer and because it’s the taxpayer’s money. Or the posterity of the taxpayer who will pay. The politicians and bureaucrats just don’t care.

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RANT: Cut the Gooferment; taxes will follow

Sunday, October 3, 2010

http://online.wsj.com/article/SB10001424052748704483004575524340160716872.html?mod=WSJ_hpp_sections_opinion

* DECLARATIONS
* OCTOBER 1, 2010
The Twister of 2010
America’s political landscape will never be the same.
*  By PEGGY NOONAN

*** begin quote ***

The primary reason is the severity of the moment. But another is that negative ads worked so well in the past. For a generation, the American people have been told their politicians are lowlifes. You know what they now think of them? They think they’re lowlifes! People don’t really expect high character from their political figures anymore. “Congressman Smith cheated on his wife.” That’s her problem. Cut my taxes.

*** end quote ***

I think Ms. Noonan understates the demand.

It’s no longer JUST “cut my taxes”. I think the Tea Parties are now on to the game. It’s cut spending, cut taxes, and cut out all the other “barbara streisand”.

See we were fooled under Reagan, who cut taxes, but not spending. The tax and spend Democrats were repelaced by the borrow and spend Republicans.

So, the meme has changed.

Reduce Gooferment and taxes will come along naturally.

I always find it interesting that the Gooferment “cuts” (what I would call) Customer facing services. They want the Taxpayer and Taxconsumer to say I want that. (When I was on Wall Street if I’d done that, I’d have been looking for a job. The challenge was always to cut your budget WITHOUT cutting services. Figure it out.)

“We, The People” seem to be on the warpath to cut everything.

Is this a glacial shift? Yes. Will it last? Yes. (Our parent’s generation was scared by the Depression; we’ll be too.)

Will it be enough to save the Republic? I don’t know!

When the Gooferment shuts down the Federal Department of Education, then we will be on the road to recovery.

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MONEY: “Unemployment Insurance”, a Gooferment scam

Saturday, September 4, 2010

http://irisheagle.blogspot.com/2010/08/govteu-funds-hard-to-find-for-laid-off.html

*** begin quote ***

the EU’s much heralded relief for Waterford in the wake of the crystal factory closing down has not worked out the way the workers thought it would.

*** end quote ***

Perhaps, “unemployment compensation” is a scam played on “We, The People” for the benefit of the “caring” politicians and bureaucrats, who need an excuse for a public paycheck.

Why is it that, in the free market, you can buy: car, fire, life, disability, homeowners / renters, and even umbrella insurance? But not “unemployment”???

(Why would anyone insure one’s umbrella?)

The answer is that it’s not a relatively random rare event that hits a pool of people who can pool the risk.

Like “social security insurance”, Obamacare (Which is socialized medicine), Medicare, Medicaid, or FDIC bank insurance, NONE of these is TRUE insurance. These, like “unemployment insurance” are really welfare programs in disguise.

Insurance companies serve several very useful functions: find people for the pool, estimate the risks, collect all the premiums, invest the money so it’s available when needed, investigate claims, and pay off as needed.

All done at a reasonable cost for administrative and profit. When you think in terms of taxes paid versus funds dispense, you have to wonder how much “unemployment insurance” costs. See what is deducted form every paycheck everywhere is no way the true cost. And, when you consider that the bureaucrats are earning hefty salaries with life time benefits and pensions that can be “stuffed” at the end (i.e., bureaucrats work “overtime” in their last years to score an enhanced, often obscene, pension).

Of all the insurances, “life” insurance is the perfect model. Everyone probably wants to share that catastrophic risk. In large populations, the risk is easily estimated. Fraudulent claims are few and far between. Premiums are low by any measure. Especially when bought young.

So, “We, The People” have to resist politicians going into the “insurance” business and embrace the “evil” insurance companies for their ability to cheaply pool our risks.

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GOVEROTRAGEOUS: More fraud reported

Thursday, September 2, 2010

http://abcnews.go.com/Politics/economic-stimulus-cash-clunkers-feds-investigate-car-dealers/story?id=11498464

Feds Investigate ‘Cash for Clunkers’ Car Dealers
Government Auditors Find $94 Million in Rebates May Be Ineligible Due to Faulty Documents
By Gregory Korte, USA TODAY
Aug. 28, 2010

*** begin quote ***

The government is investigating at least 20 car dealerships it claims violated the rules of last year’s cash-for-clunkers program. Government auditors say up to $94 million in rebates may be ineligible because they lack the proper documentation.

*** end quote ***

Argh!

It was a bad idea form the start — destroying perfectly “good” cars — would be good enough for someone who doesn’t have a car or needs a cheap replacement — which “stole” future sales guaranteeing that future sales would crater!

Figure the handling costs of all the bureaucrats and now add the cost of fraud.

A disaster from end to end.

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MONEY: Fan and Fred “leaking” wealth

Wednesday, August 11, 2010

http://biggovernment.com/publius/2010/08/09/freddie-mac-posts-6-billion-quarterly-loss/

Freddie Mac Posts $6 Billion Quarterly Loss by Publius

*** begin quote ***

Fannie Mae said last week it lost 3.1 billion dollars in its second quarter, and needed 1.5 billion dollars from the US Treasury to wipe out its deficit as of the end of June.

Freddie has sought more than 60 billion dollars in federal aid so far while Fannie’s bill has ballooned to more than 85 billion dollars.

*** end quote ***

This can’t be good and needs to be addressed asap.

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RANT: Gooferment claims ownership of rain

Wednesday, August 4, 2010

http://www.lewrockwell.com/spl2/collecting-rainwater-illegal.html

Collecting Rainwater Now Illegal in Many States as Big Government Claims Ownership Over Our Water
by Mike Adams

*** begin quote ***

Salt Lake City officials worked out a compromise with Miller and are now permitting him to use “their” rainwater, but the fact that individuals like Miller don’t actually own the rainwater that falls on their property is a true indicator of what little freedom we actually have here in the U.S. (Access to the rainwater that falls on your own property seems to be a basic right, wouldn’t you agree?)

*** end quote ***

I’m speechless. Why do we allow these idiots to rob us blind?

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RANT: Who speaks for all women?

Sunday, August 1, 2010

http://www.irishcentral.com/news/Newest-Vatican-document-is-last-straw-for-women-99538714.html

Newest Vatican document is last straw for women
By DANIEL O’CARROLL, IrishCentral.com Staff Writer
Published Thursday, July 29, 2010, 8:14 AM

*** begin quote ***In a strongly worded article in today’s Irish Times, Dr Mary Condren of the Centre for Gender and Women’s Studies in Trinity College Dublin, the Republic of Ireland’s foremost university, said that such “misogynist” attitudes by the Church were legitimizing violence and discrimination worldwide and called for an end to the Church’s use of Gospel to justify discrimination, as she saw it.

*** end quote ***

Isn’t it a bit presumptuous for the male writer to presume to speak for all woman?

And, further, maybe there are some women who like the status quo?

I’m a little L libertarian and I suggest that we leave “women” alone to figure out what they want and then they can do it. Frankly, if women are that upset and leave the Church in significant numbers, then it will pinch them in their pocketbook. That might end the old boys club.

As for me, I don’t think that they have to end it.

Just leave well enough alone.

Not everything has to conform to the new political correctness.

As a private organization, “they”, who ever “they” are, can set the rules how ever “they” want. Unlike the Gooferment, “they” can’t use force to compel anything.

Now, I DO think that a society that puts half its population in head to toe sacks is depriving itself of half its creative energy. Just as I think the society that puts the largest number of people in the world in cages deprives itself of a huge pool of “human resources”.

1. Restore us to “honest” commodity money;

2. End the personal and corporate dole;

3. Stop the various wars — foreign and domestic — repatriate the troops home;

4. End the drug war; pardon all non-violent drug offenders;

5. Transition out of gooferment public education;

6. Downsize ALL gooferments;

7. Eliminate all taxes but tariffs and excise.

We don’t have a lot of time and energy to waste. We have to rescue ourselves form all the tragic and horrible mistakes that we and our forefathers have made.

We have to restore the American Dream.

It all starts with the use of force to compel people to do things. Anything. The Government’s sole role is to protect We, The People from force or fraud. That’s it. Once it goes beyond that it becomes the Gooferment

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POLITICAL: Rangal highlights the idiocy of the draft

Tuesday, July 27, 2010

http://pajamasmedia.com/blog/can-this-man-be-saved/

Can Charles Rangel Be Saved?
Saturday, July 24th, 2010 – by Jazz Shaw
Rangel’s ethical woes have cast doubt on the 40-year veteran’s future in the House.

*** begin quote ***

Don’t count on any significant backlash from the voters. Rangel’s various ethical problems have been well known for a long time now, but he continues to win reelection with astronomical margins. Take a look at the map of New York’s 15th District some time. Unlike many vast, rural districts around the nation, the 15th is one of the most compact you will find. It runs along a roughly seven mile stretch of the Hudson River, taking in Fort George, Harlem, and Marcus Garvey, as well as grabbing a few plots of land out near LaGuardia Airport.

*** end quote ***

As a little L libertarian have no use for any politicians and bureaucrats of the Empire, but, like a stopped clock, Old Charlie is right every year when he submits his “military service draft” bill. The All Volunteer Army allows the Gooferment to wage wars without the ugliness of the Vietnam era draftees upsetting the serfs. A draft does have the value of making sure that everyone, except the elite who always wiggle out, has a stake in any undeclared war. And, it continues to highlight that the Gooferment has not ended the draft. It still keeps all the infrastructure and the political no show jobs with lucrative pensions around. SO Rangal highlights the idiocy of the whole situation. Year after year. Reminds me of the Spanish American War Telephone Tax!

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