Originally posted by baff Keynsian economics has the goverment borrowing to fund the shortfall and the trickle down economics of this loan re-envitalising the private sector. The banks are all broke. Worldwide. The reserves are all spent and the public sector is an unstoppable jugganaut. To sack these people would cost the government an election. To keep them will cost our entire economy. Round here, it's the death of capitalism as we know it. The capital has all been spent. The opportunity to borrow more money has been used too many times before. New economies have to be developed and grown to replace those that been lost. The state sector has been unsustainable for about a decade now, and instead of reigning it in, they have played it for votes and grown it. Frankly it's immoral. The government has been serving it's own ends and not the countries.
I was just reading an article on this today. The US banks lost about $1.5 trillion in loan assets, and are required by law to maintain about $1.5 tillion in reserves. They have wiped out their capital in loan losses, and the bailout is insufficient, it is like pouring water into a bucket with no bottom. The bailout will never be sufficient, as people lose jobs loan losses mount.
Two options were discussed, loosening the requirement that banks maintain the $1.5 trillion in reserves to cover bank accounts, or nationaizing the banks. The first option lets the banks loan additional money, but will make peoples bank accounts unavailable to them, the second is that the government decides who does, and does not get loans.
The same is true in Britain, no doubt.
We've had some nationalisations already. And also some part nationalisations.
They've lowered the restrictions so that banks can lend more money, only banks don't want to lend more money. They only want to lend money to people they are sure can pay it back. And that's not the people the government wants money lent to. The government wants the money lent to the loss making industries and the low income high debt individual borrowers, and the banks know that's how they got in this mess in the first place and won't do it. (A good thing too since it's what's left of my money they are lending out).
Having used both those options, and also public share holdings, relaxed laws on mergers and toxic debt insurance the next one on our list is the orginal one Bush wanted. The toxic bank. After that comes printing money.
(The toxic bank is the only one of the proposed bailouts that banks and investors seem to broadly like the idea of, but the devil is in the detail, the price they offer isn't right no one will take them up on the offer, just as they haven't on the share buy ups and toxic asset insurance).
Most of the banks here are making a tidy profit. But everyone is looking for the magic wand cure that will bring the boom back. I'm looking at 10 years I think to get my money back/out.
There's nothing wrong with bailouts to keep a countries critical industries and infrastructure alive in hard times, but people don't have realistic idea's of what they can achieve. It's emergency life support nothing more. They will still need major downsizing and restructuring to become sustainable long term. These industries are simply oversized for the demand. The debt bubble has been keeping them going for a long time now. Cars sold on hire purchase, for example, had become the normal way to buy, feeding the motor industries unsustainable growth.
It will all come back, but it won't come back to the same level it was at. Not for decades.
My government is probably the only body of people with a worse financial track record than the banks. The idea of them deciding who to lend my money to is frankly frightening. I was a multi-millionaire a year ago. They've taken over two of my banks so far. The nationalised one has eaten my (not so large) investment and the part nationalised one has stopped my dividends on a significant one, neutralising it for the forseeable future. It's only really my Chinese investments I have any confidence in. Those beyond my government's (and your's) greedy grasp.
If the government nationalises a bank, it won't get it's hands on the money anyway because everyone will just sell their stock for whatever peanuts they can get and wipe the bank's capital out. So all it gains is the apparatus to make loans but none of the investment needed to fuel them. It also wipes all the pensioners out. Creating more of the same problems for the national economy unemployment is bringing. More unemployment in the banking sector too.
I don't think lowering the banks required reserves necessarily makes peoples savings accounts unavailable to them, it just increases the risk of a run on the bank. Their savings are still all available to them only it takes less of them to all ask for the money back at the same time to collapse the bank.
All the surviving banks here are the ones with high capital reserves. Just because the government lowers the requirements for reserves doesn't mean the banks will actually take advantage of it. The banks here are all doing the exact opposite.
And in my opinion that is what we need to do as nation. Rebuild our reserves. The government here wants a quick fix in time for it's election next year, but it isn't going to get it. It's dealt that card too many times now and all it's quick fix cards have been played.
The same is true for the intrest rates. The government has been lowering intrest rates, but banks haven't followed that lead. It has lost the confidence of the investment community and with it, it's controls over them. It isn't perceived to be part of the solution as much as a primary driver of the problem.
Investment is in flight from this country.
The economy needs to restructure. It will be painful. I don't forsee Soviet style collapse. I don't think the holes in the bucket are right at the bottom so to speak. I think ramapant consumerism has had it's day though. All the parts of the economy that have been based on that model are out the window for decades to come until people all forget what its like to be poor again and start buying into the magic money tree story once more.
But there will be Soviet style collapse here if the public sector is allowed to rampage on and on, growing and growing and grabbing more and more money and employee's. If it can't reform itself dramatically it will take us all down with it.
There use to be an old saying it was a recession when folks you know lost their jobs. It becomes a depression when you lose your job.
To me no sector of the economy is a safe port at this point. Even hospitals are cutting back. So are oil comapnies. While nada new enjoying the high dollar for gas times. They are quick to cut back in the not so great times.
It came to me with so many reports of job loses. That many of those folks will not pay their cobra fees due to unemployment. Thus adding tons more of un insured to the books already.
Also with foreclousers on the rise there will be many cities states that are not albe to recieve the taxes owed to them. So with the cycle of cuts/ foreclosures city county services will go down as well'
I wonder how long before the crime really rises without the means to do anything about it???
Last time I checked Australia was doing okay compared to most other developed countries. Although our countries largest mining company is about to axe 8,000 jobs. That is the worst I have heard, and Holden Ltd (GM) is also cutting production across the line of cars...
This is what happens when you have bubbles. Lots of inefficiency and government growth.
And the money? The money that was pumped into the system left to international markets via the trade deficit. These stock gurus thinking that treasury investment is approaching a bubble phase rarely factor that into the equation properly.
There are some recession proof jobs though.
#1: be your own boss
#2: in a recession proof industry
People who depend on other self-interested people to pay them well are taking risks I could never take with my life.
Originally posted by Litigator_AB This is what happens when you have bubbles. Lots of inefficiency and government growth. And the money? The money that was pumped into the system left to international markets via the trade deficit. These stock gurus thinking that treasury investment is approaching a bubble phase rarely factor that into the equation properly. There are some recession proof jobs though. #1: be your own boss #2: in a recession proof industry People who depend on other self-interested people to pay them well are taking risks I could never take with my life.
There is one sure example of a recession proof job. Law Enforcement.
As times get worse, and people lose their jobs the amount of stress that builds over time is enormous. People who would never think it possible resort to things like stealing, if for no other reason but to feed their families. Since they aren't professional thieves or embezzlers, they usually stick out like a sore thumb and get caught by the most trivial things. Now they have a court date along with no job and dwindling money. Some turn to drinking and drugs or just try to avoid reality altogether. All it takes to end up in jail is one too many drinks and an alert cop watching the road. Now a DUI or worse, you hit and kill someone. They lose their house because they can't pay, the sheriff is needed to evict them. You have to get processed through the legal system and this takes cops to watch you every step of the way.
Some people snap and just shoot their families and next door neighbors, or go back to the place they lost their jobs and go postal. They aren't homicidal maniacs, they just had too much to deal with at one time. After the spree, they are "normal" again (if they don't commit suicide). Now you have a guy/gal who is gonna spend life in jail for a day of bad judgement. Taxpayers now have to spend an average of $40,000 or more a year to watch this one person for the rest of his life. The jail guards who are paid to watch him now have job security forever.
I know in New Jersey, the average jail guard, we are not talking supervisor or higher, is making a base salary of over $70,000 a year just to sit and watch people in jail. Bergen County officers in their jails make over $90,000 a year. And thats just a regular old county prison cop. Throw in overtime and the average guy there is over $100,000 a year with just a high school diploma, lol. Look it up if you don't believe me. It is a telling sign of our times and which way US society is headed when a person with a GED makes twice as much as a college graduate for sitting and watching someone take a shower everyday.
Other towns and cities use this same model. Few other places you can go make this type of money with just a high school diploma or GED. This is why the taxes in these places are insane. Take a look at how much California jailguards make once they are maxed in tiers. If I told you they make $80,000 a year you'd never believe it. These places give in to the police unions and then have to raise your taxes to pay for it all. When your neighbor goes to jail, its not just less tax money for the town you have to make up, its a double whammy cause now he's sucking up the tax money he used to kick in. And its not like jails are spending all this money on prisoners. Most jails took just about everything they can take already from convicts... the days of free cable, free college tuition, free anything for criminals have long been gone. They stopped doing that YEARS ago lol.
So if you are looking for a new career that's recession proof, remember as times gets worse for the average Joe, the better it is for law enforcement.
This is what happens when you have bubbles. Lots of inefficiency and government growth.
And the money? The money that was pumped into the system left to international markets via the trade deficit. These stock gurus thinking that treasury investment is approaching a bubble phase rarely factor that into the equation properly.
There are some recession proof jobs though.
#1: be your own boss
#2: in a recession proof industry
People who depend on other self-interested people to pay them well are taking risks I could never take with my life.
There is one sure example of a recession proof job. Law Enforcement.
As times get worse, and people lose their jobs the amount of stress that builds over time is enormous. People who would never think it possible resort to things like stealing, if for no other reason but to feed their families. Since they aren't professional thieves or embezzlers, they usually stick out like a sore thumb and get caught by the most trivial things. Now they have a court date along with no job and dwindling money. Some turn to drinking and drugs or just try to avoid reality altogether. All it takes to end up in jail is one too many drinks and an alert cop watching the road. Now a DUI or worse, you hit and kill someone. They lose their house because they can't pay, the sheriff is needed to evict them. You have to get processed through the legal system and this takes cops to watch you every step of the way.
Some people snap and just shoot their families and next door neighbors, or go back to the place they lost their jobs and go postal. They aren't homicidal maniacs, they just had too much to deal with at one time. After the spree, they are "normal" again (if they don't commit suicide). Now you have a guy/gal who is gonna spend life in jail for a day of bad judgement. Taxpayers now have to spend an average of $40,000 or more a year to watch this one person for the rest of his life. The jail guards who are paid to watch him now have job security forever.
I know in New Jersey, the average jail guard, we are not talking supervisor or higher, is making a base salary of over $70,000 a year just to sit and watch people in jail. Bergen County officers in their jails make over $90,000 a year. And thats just a regular old county prison cop. Throw in overtime and the average guy there is over $100,000 a year with just a high school diploma, lol. Look it up if you don't believe me. It is a telling sign of our times and which way US society is headed when a person with a GED makes twice as much as a college graduate for sitting and watching someone take a shower everyday.
Other towns and cities use this same model. Few other places you can go make this type of money with just a high school diploma or GED. This is why the taxes in these places are insane. Take a look at how much California jailguards make once they are maxed in tiers. If I told you they make $80,000 a year you'd never believe it. These places give in to the police unions and then have to raise your taxes to pay for it all. When your neighbor goes to jail, its not just less tax money for the town you have to make up, its a double whammy cause now he's sucking up the tax money he used to kick in. And its not like jails are spending all this money on prisoners. Most jails took just about everything they can take already from convicts... the days of free cable, free college tuition, free anything for criminals have long been gone. They stopped doing that YEARS ago lol.
So if you are looking for a new career that's recession proof, remember as times gets worse for the average Joe, the better it is for law enforcement.
If people can't pay their taxes, then there is no money to pay the law enforcement.
============================= It all seems so stupid It makes me want to give up But why should I give up When it all seems so stupid
this is a major concern.. the government should act now.. more and more workers have been fired...
I think getting rid of the Federal Reserve should be their first step. Then they should just step back and let the fallout take it's course. This has to be corrected. We have been a nation of debt for too long and it's finally collapsing around us. You can't fix that. About the only thing that would fix it now is just setting everyone's debt back to zero and then not letting anyone have anymore. If you can't afford to buy it then you need to save up to get it. Can't save up, then you must not have wanted or needed it that badly then.
============================= It all seems so stupid It makes me want to give up But why should I give up When it all seems so stupid
If people can't pay their taxes, then there is no money to pay the law enforcement.
Througout history, during civil wars, depressions, and periods of great turmoil for civilized nations there has always been and always will be enough money to pay for law enforcement of one type or another.
The rich simply wouldn't allow chaos and lawlessness. Otherwise what's the point of having excesses when someone can just come and bonk you over the head and take all you "worked" for. And there is always someone willing to take that dollar, gold, gem or even just an extra bag of salt to bash the skulls when they are directed to.
The banks were borrowing money to each other, the banks in turn lent money to their customer, which in turn spent money they didn't have on goods.
Now, banks stopped borrowing money to each other, they stopped lending money so easily to the customers, which in turn don't have money to spend.
Hence the Economy is frozen and that's happening everywhere in the world.
Our growth (the western civilization) was based on spending money we never had in the first place, and I am afraid we will never get back where we were before the crysis.
Global economy will have to shift from a debit based one to a income based one, which means that the economy will need to rely on what people can afford to spend rather than the size of the loan they can obtain..............
It will be hard and long process before recovery, but the bubble had to burst.........there is so much money you can borrow before running out of that too.
Pennsylvania Governor Ed Rendell announced a statewide hiring freeze in September 2008. This was understood to be a cost saving measure as the city lost substantial income as did many other cities and towns.
Recently the Republican party released info on that freeze to newspapers.
Their report said that although Rendell (a Democrat) announced the statewide freeze, 501 new employees were hired by the state since that time. Four out of five of those employees hold public safety positions that were exempted from the statewide hiring freeze. Rendell's spokesman said this when asked about it:
"Remember that the public safety agencies were never covered by the freeze, so the operative number is the 100 or so who have received exemptions from us." (Basically, he's saying only 100 hirings are worth arguing about, which may have broken the freeze).
He also said those "Exemptions are granted on a "case-by-case" basis for positions that need to be filled for the continued operation of programs." You don't have to be a genius to figure out someone in the government's son or nephew just got out of college and needed a job, they were given a 'sensitive' job in a office that just had to keep running... or else, hence the hire.
If any of you out there lost your job, or got a huge pay cut and need to make more, or have kids in school that are not sure what will get them a job when they graduate high school or college, tell them Public Safety (police, fire, etc). Go down and fill out the Civil Service Examinations for state jobs... they're free. As I've said before, it's a recession proof job and usually just a GED will qualify you.
Comments
I was just reading an article on this today. The US banks lost about $1.5 trillion in loan assets, and are required by law to maintain about $1.5 tillion in reserves. They have wiped out their capital in loan losses, and the bailout is insufficient, it is like pouring water into a bucket with no bottom. The bailout will never be sufficient, as people lose jobs loan losses mount.
Two options were discussed, loosening the requirement that banks maintain the $1.5 trillion in reserves to cover bank accounts, or nationaizing the banks. The first option lets the banks loan additional money, but will make peoples bank accounts unavailable to them, the second is that the government decides who does, and does not get loans.
The same is true in Britain, no doubt.
We've had some nationalisations already. And also some part nationalisations.
They've lowered the restrictions so that banks can lend more money, only banks don't want to lend more money. They only want to lend money to people they are sure can pay it back. And that's not the people the government wants money lent to. The government wants the money lent to the loss making industries and the low income high debt individual borrowers, and the banks know that's how they got in this mess in the first place and won't do it. (A good thing too since it's what's left of my money they are lending out).
Having used both those options, and also public share holdings, relaxed laws on mergers and toxic debt insurance the next one on our list is the orginal one Bush wanted. The toxic bank. After that comes printing money.
(The toxic bank is the only one of the proposed bailouts that banks and investors seem to broadly like the idea of, but the devil is in the detail, the price they offer isn't right no one will take them up on the offer, just as they haven't on the share buy ups and toxic asset insurance).
Most of the banks here are making a tidy profit. But everyone is looking for the magic wand cure that will bring the boom back. I'm looking at 10 years I think to get my money back/out.
There's nothing wrong with bailouts to keep a countries critical industries and infrastructure alive in hard times, but people don't have realistic idea's of what they can achieve. It's emergency life support nothing more. They will still need major downsizing and restructuring to become sustainable long term. These industries are simply oversized for the demand. The debt bubble has been keeping them going for a long time now. Cars sold on hire purchase, for example, had become the normal way to buy, feeding the motor industries unsustainable growth.
It will all come back, but it won't come back to the same level it was at. Not for decades.
My government is probably the only body of people with a worse financial track record than the banks. The idea of them deciding who to lend my money to is frankly frightening. I was a multi-millionaire a year ago. They've taken over two of my banks so far. The nationalised one has eaten my (not so large) investment and the part nationalised one has stopped my dividends on a significant one, neutralising it for the forseeable future. It's only really my Chinese investments I have any confidence in. Those beyond my government's (and your's) greedy grasp.
If the government nationalises a bank, it won't get it's hands on the money anyway because everyone will just sell their stock for whatever peanuts they can get and wipe the bank's capital out. So all it gains is the apparatus to make loans but none of the investment needed to fuel them. It also wipes all the pensioners out. Creating more of the same problems for the national economy unemployment is bringing. More unemployment in the banking sector too.
I don't think lowering the banks required reserves necessarily makes peoples savings accounts unavailable to them, it just increases the risk of a run on the bank. Their savings are still all available to them only it takes less of them to all ask for the money back at the same time to collapse the bank.
All the surviving banks here are the ones with high capital reserves. Just because the government lowers the requirements for reserves doesn't mean the banks will actually take advantage of it. The banks here are all doing the exact opposite.
And in my opinion that is what we need to do as nation. Rebuild our reserves. The government here wants a quick fix in time for it's election next year, but it isn't going to get it. It's dealt that card too many times now and all it's quick fix cards have been played.
The same is true for the intrest rates. The government has been lowering intrest rates, but banks haven't followed that lead. It has lost the confidence of the investment community and with it, it's controls over them. It isn't perceived to be part of the solution as much as a primary driver of the problem.
Investment is in flight from this country.
The economy needs to restructure. It will be painful. I don't forsee Soviet style collapse. I don't think the holes in the bucket are right at the bottom so to speak. I think ramapant consumerism has had it's day though. All the parts of the economy that have been based on that model are out the window for decades to come until people all forget what its like to be poor again and start buying into the magic money tree story once more.
But there will be Soviet style collapse here if the public sector is allowed to rampage on and on, growing and growing and grabbing more and more money and employee's. If it can't reform itself dramatically it will take us all down with it.
I lost my job...... havn't been able to find a new once since the start of December and frigging getting kicked out soon.
this is a major concern.. the government should act now.. more and more workers have been fired...
There use to be an old saying it was a recession when folks you know lost their jobs. It becomes a depression when you lose your job.
To me no sector of the economy is a safe port at this point. Even hospitals are cutting back. So are oil comapnies. While nada new enjoying the high dollar for gas times. They are quick to cut back in the not so great times.
It came to me with so many reports of job loses. That many of those folks will not pay their cobra fees due to unemployment. Thus adding tons more of un insured to the books already.
Also with foreclousers on the rise there will be many cities states that are not albe to recieve the taxes owed to them. So with the cycle of cuts/ foreclosures city county services will go down as well'
I wonder how long before the crime really rises without the means to do anything about it???
Last time I checked Australia was doing okay compared to most other developed countries. Although our countries largest mining company is about to axe 8,000 jobs. That is the worst I have heard, and Holden Ltd (GM) is also cutting production across the line of cars...
This is what happens when you have bubbles. Lots of inefficiency and government growth.
And the money? The money that was pumped into the system left to international markets via the trade deficit. These stock gurus thinking that treasury investment is approaching a bubble phase rarely factor that into the equation properly.
There are some recession proof jobs though.
#1: be your own boss
#2: in a recession proof industry
People who depend on other self-interested people to pay them well are taking risks I could never take with my life.
Australia and other smaller developed countries will weather the storm better.
Big, massive, uneducated albatrosses with massive trade deficits are going to take a long time to recover...aka the United States.
There is one sure example of a recession proof job. Law Enforcement.
As times get worse, and people lose their jobs the amount of stress that builds over time is enormous. People who would never think it possible resort to things like stealing, if for no other reason but to feed their families. Since they aren't professional thieves or embezzlers, they usually stick out like a sore thumb and get caught by the most trivial things. Now they have a court date along with no job and dwindling money. Some turn to drinking and drugs or just try to avoid reality altogether. All it takes to end up in jail is one too many drinks and an alert cop watching the road. Now a DUI or worse, you hit and kill someone. They lose their house because they can't pay, the sheriff is needed to evict them. You have to get processed through the legal system and this takes cops to watch you every step of the way.
Some people snap and just shoot their families and next door neighbors, or go back to the place they lost their jobs and go postal. They aren't homicidal maniacs, they just had too much to deal with at one time. After the spree, they are "normal" again (if they don't commit suicide). Now you have a guy/gal who is gonna spend life in jail for a day of bad judgement. Taxpayers now have to spend an average of $40,000 or more a year to watch this one person for the rest of his life. The jail guards who are paid to watch him now have job security forever.
I know in New Jersey, the average jail guard, we are not talking supervisor or higher, is making a base salary of over $70,000 a year just to sit and watch people in jail. Bergen County officers in their jails make over $90,000 a year. And thats just a regular old county prison cop. Throw in overtime and the average guy there is over $100,000 a year with just a high school diploma, lol. Look it up if you don't believe me. It is a telling sign of our times and which way US society is headed when a person with a GED makes twice as much as a college graduate for sitting and watching someone take a shower everyday.
Other towns and cities use this same model. Few other places you can go make this type of money with just a high school diploma or GED. This is why the taxes in these places are insane. Take a look at how much California jailguards make once they are maxed in tiers. If I told you they make $80,000 a year you'd never believe it. These places give in to the police unions and then have to raise your taxes to pay for it all. When your neighbor goes to jail, its not just less tax money for the town you have to make up, its a double whammy cause now he's sucking up the tax money he used to kick in. And its not like jails are spending all this money on prisoners. Most jails took just about everything they can take already from convicts... the days of free cable, free college tuition, free anything for criminals have long been gone. They stopped doing that YEARS ago lol.
So if you are looking for a new career that's recession proof, remember as times gets worse for the average Joe, the better it is for law enforcement.
"TO MICHAEL!"
There is one sure example of a recession proof job. Law Enforcement.
As times get worse, and people lose their jobs the amount of stress that builds over time is enormous. People who would never think it possible resort to things like stealing, if for no other reason but to feed their families. Since they aren't professional thieves or embezzlers, they usually stick out like a sore thumb and get caught by the most trivial things. Now they have a court date along with no job and dwindling money. Some turn to drinking and drugs or just try to avoid reality altogether. All it takes to end up in jail is one too many drinks and an alert cop watching the road. Now a DUI or worse, you hit and kill someone. They lose their house because they can't pay, the sheriff is needed to evict them. You have to get processed through the legal system and this takes cops to watch you every step of the way.
Some people snap and just shoot their families and next door neighbors, or go back to the place they lost their jobs and go postal. They aren't homicidal maniacs, they just had too much to deal with at one time. After the spree, they are "normal" again (if they don't commit suicide). Now you have a guy/gal who is gonna spend life in jail for a day of bad judgement. Taxpayers now have to spend an average of $40,000 or more a year to watch this one person for the rest of his life. The jail guards who are paid to watch him now have job security forever.
I know in New Jersey, the average jail guard, we are not talking supervisor or higher, is making a base salary of over $70,000 a year just to sit and watch people in jail. Bergen County officers in their jails make over $90,000 a year. And thats just a regular old county prison cop. Throw in overtime and the average guy there is over $100,000 a year with just a high school diploma, lol. Look it up if you don't believe me. It is a telling sign of our times and which way US society is headed when a person with a GED makes twice as much as a college graduate for sitting and watching someone take a shower everyday.
Other towns and cities use this same model. Few other places you can go make this type of money with just a high school diploma or GED. This is why the taxes in these places are insane. Take a look at how much California jailguards make once they are maxed in tiers. If I told you they make $80,000 a year you'd never believe it. These places give in to the police unions and then have to raise your taxes to pay for it all. When your neighbor goes to jail, its not just less tax money for the town you have to make up, its a double whammy cause now he's sucking up the tax money he used to kick in. And its not like jails are spending all this money on prisoners. Most jails took just about everything they can take already from convicts... the days of free cable, free college tuition, free anything for criminals have long been gone. They stopped doing that YEARS ago lol.
So if you are looking for a new career that's recession proof, remember as times gets worse for the average Joe, the better it is for law enforcement.
If people can't pay their taxes, then there is no money to pay the law enforcement.
=============================
It all seems so stupid
It makes me want to give up
But why should I give up
When it all seems so stupid
I think getting rid of the Federal Reserve should be their first step. Then they should just step back and let the fallout take it's course. This has to be corrected. We have been a nation of debt for too long and it's finally collapsing around us. You can't fix that. About the only thing that would fix it now is just setting everyone's debt back to zero and then not letting anyone have anymore. If you can't afford to buy it then you need to save up to get it. Can't save up, then you must not have wanted or needed it that badly then.
=============================
It all seems so stupid
It makes me want to give up
But why should I give up
When it all seems so stupid
Througout history, during civil wars, depressions, and periods of great turmoil for civilized nations there has always been and always will be enough money to pay for law enforcement of one type or another.
The rich simply wouldn't allow chaos and lawlessness. Otherwise what's the point of having excesses when someone can just come and bonk you over the head and take all you "worked" for. And there is always someone willing to take that dollar, gold, gem or even just an extra bag of salt to bash the skulls when they are directed to.
"TO MICHAEL!"
Guys the western economies were based on debt.
The banks were borrowing money to each other, the banks in turn lent money to their customer, which in turn spent money they didn't have on goods.
Now, banks stopped borrowing money to each other, they stopped lending money so easily to the customers, which in turn don't have money to spend.
Hence the Economy is frozen and that's happening everywhere in the world.
Our growth (the western civilization) was based on spending money we never had in the first place, and I am afraid we will never get back where we were before the crysis.
Global economy will have to shift from a debit based one to a income based one, which means that the economy will need to rely on what people can afford to spend rather than the size of the loan they can obtain..............
It will be hard and long process before recovery, but the bubble had to burst.........there is so much money you can borrow before running out of that too.
Pennsylvania Governor Ed Rendell announced a statewide hiring freeze in September 2008. This was understood to be a cost saving measure as the city lost substantial income as did many other cities and towns.
Recently the Republican party released info on that freeze to newspapers.
Their report said that although Rendell (a Democrat) announced the statewide freeze, 501 new employees were hired by the state since that time. Four out of five of those employees hold public safety positions that were exempted from the statewide hiring freeze. Rendell's spokesman said this when asked about it:
"Remember that the public safety agencies were never covered by the freeze, so the operative number is the 100 or so who have received exemptions from us." (Basically, he's saying only 100 hirings are worth arguing about, which may have broken the freeze).
He also said those "Exemptions are granted on a "case-by-case" basis for positions that need to be filled for the continued operation of programs." You don't have to be a genius to figure out someone in the government's son or nephew just got out of college and needed a job, they were given a 'sensitive' job in a office that just had to keep running... or else, hence the hire.
If any of you out there lost your job, or got a huge pay cut and need to make more, or have kids in school that are not sure what will get them a job when they graduate high school or college, tell them Public Safety (police, fire, etc). Go down and fill out the Civil Service Examinations for state jobs... they're free. As I've said before, it's a recession proof job and usually just a GED will qualify you.
"TO MICHAEL!"