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[quote=”Johnhw2″] No those are not different, however you said .25% which is different. The key is the % after the .25[/quote]
Thanks John… I’ve been sitting in front of this screen for 13 hours today so far and sometimes the brain gets fuzzy but it’s good to know it’s still ticking along …
Scott
Anyone. How safe or strong are the banks in Costa Rica? What is the risk of default?
If inflation happens? How much inflation can the Costa Ricans take?As far as I know not a single Costa Rican bank has failed this year… Costa Rican banks are a ZILLION times more conservative than the vast majority of US banks ….
Meanwhile:
“U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.”
[ http://www.reuters.com/article/idUSTRE66U0DC20100731 ]
Scott
PS. And please don’t speak to me about FDIC – The FDIC is totally bankrupt and it’s only a matter of time before one of these failures is a “real” failure. You kn where people actually do NOT get any money back. The way “capitalism” should work…
Coopemex–but not exactly a bank-
[quote=”Scott”]As far as I know not a single Costa Rican bank has failed this year… Costa Rican banks are a ZILLION times more conservative than the vast majority of US banks ….
Meanwhile:
“U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.”
[ http://www.reuters.com/article/idUSTRE66U0DC20100731 ]
Scott
PS. And please don’t speak to me about FDIC – The FDIC is totally bankrupt and it’s only a matter of time before one of these failures is a “real” failure. You kn where people actually do NOT get any money back. The way “capitalism” should work…[/quote]
💡 If I need something, I look at my bank account and see if I can afford to buy it. If I can, I buy it. If I can’t, I fix it.
Jim Rickards: At Least One Swiss Bank Has Started Refusing To Hand Over Physical Gold To Clients
“To be safe, Rickards says you should take out your gold out of the banks before governments freeze physical holdings.”
Read more [ http://www.businessinsider.com/jim-rickards-take-gold-out-of-the-bank-2010-12#ixzz17ivnTpdW ]
Costa Rica Colonie dropping from 500 to 400, that is a pretty big drop 20 %. Has this historically ever happened. I don’t think so.
[quote=”jamesgoshen4″]Costa Rica Colonie dropping from 500 to 400, that is a pretty big drop 20 %. Has this historically ever happened. I don’t think so.[/quote]
Actually, the overall drop would be from a previous high of c576 = $1US to c400 = $1US. That would be a drop of just over 30%.
Will it happen? Who knows . . .
Question is, what are you gonna do about it?
Those of you interested in a “no-punches-pulled” analysis of the banking “crisis” might enjoy Dabid DeGraw’s article:
Are The Federal Reserve’s Crimes Too Big To Comprehend?
“The Fed doled out $12.3 trillion in near-zero interest loans, using the American people as collateral, demanding nothing in return, other than a bunch of toxic assets in some cases. They only gave this money to a select group of insiders, at a time when very few had any money because all these same insiders and speculators crashed the system.
Do you get that? The very people most responsible for crashing the system, were then rewarded with trillions of our dollars. This gave that select group of insiders unlimited power to seize control of assets and have unprecedented leverage over almost everything within their economies – crony capitalism on steroids.”
[ http://poorrichards-blog.blogspot.com/2010/12/wall-street-pentagon-papers-biggest.html ]
In what sense of the term is this inconsistent with the way the federal government operates generally? Sure, they gave trillions to the bandits who caused the problem, but that’s the American way. Now they’re going to dole out even more to the richest and most advantaged among us via unwarranted tax reductions while shorting the majority at the bottom. And they’ll see to it that nothing changes by assuring that the amassed riches held by the descendants of the top one percent stay right where they are for generations to come thus creating a permanent aristocracy.
Welcome to oligarchy American-style. The banking bailout is just one expression of it.
Every day, I thank my lucky stars that I never had children.
Apart from the fact that the US$ buys less now than it has in quite some time, do you think this will put your monthly Social Security payment at risk?
I don’t think so Scott:
80% of the people 55 years of age and older do vote in every election in the USA
modifying the SSA payments would mean a political SUICIDE for those that propose it
before they even think of changes to the SSA they would have to decimate the
Department of Defense
Foreign Aid
Entitlements
Change the Tax Codes
etc..warren
In general, I agree with Warren’s assessment, but he leaves out at least one important number. Not only do 80% of those over 55 years old vote, but there are some 76 million baby boomers in the pipeline. Eighty percent of 76 million is a whole lot of votes. It’s more than enough to swing any election, local, state or national.
What’s more, Wachovia is lately reporting that the average (I think) retirement savings of those over fifty (again, I think) is about $29,000 which, at an annual rate of 5%, is fully enough to provide $190 per month in regular income. With that, you can rest assured that a whole bunch of those 76 million baby boomers will be looking forward to Social Security to underpin their survival in retirement. How realistic that expectation is is yet another matter.
There’s one more demographic to consider, too. Of those 76 million baby boomers, a significant number are recreational hunters. Just let their Congressperson be the one to vote away their Social Security benefit and see how long s/he survives.
David:
what you posted is another matter (baby boomers) BB
52 million people collect SSA as of 2010 and the BB have not reached the ZENIT yet
just wait intil 2020 and it is projected that 72 million will collect SSA benefits and not only because of the BB #’s but because life expectancy is growing
and regardless if you are a Dem, Rep, independent voter; they vote in a block form when it comes to their benefits’ with no political affiliation
remember when GWB wanted to privatize the SSA??? “NO DICE” was the answer from the American public and it did not happen
and with 3 years of no COLA to SSA recipients while the Medicare costs are going up a quiet dissatisfaction is developing with the GREY masses
we bail out the auto makers, banks, mortgage industries, etc.. and not our senior citizens?? then you better WATCH out!!
Santa Claus is comming to town
warren
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