Those were his supposed last words over the radio.
"I am seeing a full economic recovery due in large part to the better than expected data, green shoots and all the jobs saved or created. Thanks O"
I am long FAZ and sleep well at night. I did not sell it at 25
I did not sell it at 18
Nor 16 and I would not sell it even if it went to 12
I am well aware of what I am fighting against and being short when the government is literally doing everything in their power via MBS, QE and even propaganda in the MSM is dangerous. It is very dangerous when the people who should be getting prosecuted for their actions and instead being protected. I am a patriot and I have faith in America and its foundings and its eventual restoration. This is not like in the past:
Look at the growing popularity of sites like Zero Hedge & men like Glenn Beck.Look at MA with Scott Brown. It will take a miracle for Obama to win in 2012.
These men are too incompetent to continue this charade and it work. I will hold FAZ because as the markets collapse and FAZ goes up the dollar goes up which means my dollars become even more valuable. I will use that strength and drop in Gold to buy more gold longterm 50% down from these levels. I expect the markets to go right through the March lows and trend down from there for an extended number of years.
Maybe Im crazy.
Study: States must fill $1 trillion pension gap
By MARK SCOLFORO, Associated Press Writer Mark Scolforo, Associated Press Writer – Thu Feb 18, 9:16 am ET
HARRISBURG, Pa. – States may be forced to reduce benefits, raise taxes or slash government services to address a $1 trillion funding shortfall in public sector retirement benefits, according to a new study that warns
of even more debilitating costs if immediate action isn't taken.
The Pew Center on the States released a survey Thursday of state-administered pension plans, retiree health care and other post-employment benefits in all 50 states that blamed a decade's worth of policy decisions for leaving them shortchanged.
The result for some states will be "high annual costs that come with significant unfunded liabilities, lower bond ratings, less money available for services, higher taxes and the specter of worsening problems in the future," the study said.
The cost of the trillion-dollar shortfall, which will be paid over the coming decades, is about $8,800 for each American household. The study did not include many city, county and municipal pension plans, which are thought to have similar underfunding.
"We have a significant problem now, but it's a problem that can be solved by taking relatively modest steps," said Susan K. Urahn, the center's managing director. "If they don't do anything, if they wait, eventually they will have an unmanageable crisis on their hands."
As of 2008, states had $2.4 trillion to meet $3.4 trillion in promised pension, health care and other post-retirement benefits, according to the report.
The true gap may even be wider, because the study did not account for the full impact of investment losses in late 2008, during the stock market downturn, and because many plans employ multiyear smoothing techniques to lessen the effect of a single year's losses. But more recent stock market returns could help — on Wednesday, for example, Pennsylvania's $47 billion public school pension plan reported it had earned about 12 percent on investments in the 2009 calendar year.
Pew deemed 16 states solid performers in how they fund pensions, 15 needing improvement and 19 considered to be facing serious concerns.
"Meanwhile, more and more baby boomers in state and local government are nearing retirement, and many will live longer than earlier generations — meaning that if states do not get a handle on the costs of post-employment benefits now, the problem likely will get far worse, with states facing debilitating costs," the study said.
The exploding financial burden could be a bitter pill for taxpayers, many of whom will not be collecting similar pensions or other benefits when they retire, said David Kline with the California Taxpayers' Association. About one in five private sector workers have traditional defined benefit pensions, compared with about 90 percent of public-sector employees — including some that do not get Social Security.
"Taxpayers in the future will be paying for people who worked decades before they may have even lived in the area or begun paying taxes, because the obligation for these benefits is just snowballing," Kline said.
The study graded states on how well they have managed employees' retirement benefits. Florida, Idaho, New York, North Carolina and Wisconsin began the current recession with fully funded pension systems, while eight states have left more than one-third of their pension liability unfunded.
I Have NO IDEA..LOL
This market chooses to correlate to the dollar, oil and data whenever it is in the mood. This is why seasoned investors such as Biderman are 99% certain this market is being manipulated for the sole purpose of trying to stabilize the economy.
All I can tell you is that job losses are going to increase and I expect to see another 600K - 700k round of job losses in coming months. I am looking long term.
Inflation finally poked its head up today. I believe the Fed will become so desperate to prevent inflation and the administration will do anything to get re elected in 2012 that they will raise interest rates suddenly and dismantle banks like GS.
I said in July GS will be broken up like MaBell and people laughed in recent months there has been chatter about this.
Bottom line: Housing was inflated between 1980 and recently to levels that were only permitted through easy money and speculation and credit extensions. Homes that were 29,000 in 1969 are $500,000 today. It is not natural. I swear to you home prices will fall at least 75% -100% from here and when that happens the game is over for even those believed to be safe assets from banks.
WE CANNOT LOSE 450K plus jobs like this constantly and expect prices to go up solely because of counterfeiting dollars.
These dumb fucks on Wall Street were too stupid to see it coming and they will never see the American people coming.
in 2012 a Third party will win the election. The Fed will be abolished shortly after. We will return to a gold standard and many men of wall Street will be brought up on RICO Charges.