Financial topics

[aedens]

people increasingly find ways to do less of what violates their self-interest, which entails cooperating less well with others. As Friedrich Hayek noted, “Any attempt to control prices or quantities of particular commodities deprives competition of its power of bringing about effective coordination of individual efforts.” http://mises.org/daily/6519/How-the-Sta ... ooperation

[gerald]

I expected a blow off top with the German elections, but it didn't happen; therefore I have been patiently waiting to short this relentless market. My next window will be in line with an anticipated Elliot wave 5 with a blow off when there is a debt ceiling compromise.

Of interest for those that don't read The Market Ticker by Karl Denninger, he has posted that he will no longer feed the pig; he intends to generate no economic activity to pay taxes. Somewhat of a John Galt move, although he won't be disappearing. As I have previously posted, I have slowed my business somewhat, and intend to do less economic activity, won't hire any new personnel, and intend to not purchase new equipment. Although I would like a new vehicle, I don't NEED one, therefore I won't pay excise taxes etc. My family turned off the TV cable; we really don't miss it much. Its Sunday, and I do have a curiousity of the football scores, like other sheeple. When I think about it, I realize that its not important.

I invite others to do the same.

I have an opportunity to start a new business venture, hire people and have adequate resources to fund. However, after considering taxes, regulations, etc. why bother? I have an adequate income ( not a high lifestyle just basic, and enjoy a simple life with nature as it is ) --- so -- going Galt,--- F' em --- I do not think I am alone. --- by the way I killed the TV years ago, it is just BS and a waste of time.

[vincecate]

Of interest for those that don't read The Market Ticker by Karl Denninger, he has posted that he will no longer feed the pig; he intends to generate no economic activity to pay taxes. Somewhat of a John Galt move, although he won't be disappearing. As I have previously posted, I have slowed my business somewhat, and intend to do less economic activity, won't hire any new personnel, and intend to not purchase new equipment.

I have an opportunity to start a new business venture, hire people and have adequate resources to fund. However, after considering taxes, regulations, etc. why bother? I have an adequate income ( not a high lifestyle just basic, and enjoy a simple life with nature as it is ) --- so -- going Galt,--- F' em --- I do not think I am alone.

Moving to a tax-haven island in the Caribbean and renouncing my US citizenship was my version of "going Galt". I figure I not freed myself but now my 4 boys are also free. The US holds onto its tax slaves no matter where they live while other countries let go if they move away. Of course taxes has been going up here since I moved here but they are still low compared to the USA.

[aedens]

http://econlog.econlib.org/archives/201 ... ead_b.html

[gerald]

Of interest for those that don't read The Market Ticker by Karl Denninger, he has posted that he will no longer feed the pig; he intends to generate no economic activity to pay taxes. Somewhat of a John Galt move, although he won't be disappearing. As I have previously posted, I have slowed my business somewhat, and intend to do less economic activity, won't hire any new personnel, and intend to not purchase new equipment.

I have an opportunity to start a new business venture, hire people and have adequate resources to fund. However, after considering taxes, regulations, etc. why bother? I have an adequate income ( not a high lifestyle just basic, and enjoy a simple life with nature as it is ) --- so -- going Galt,--- F' em --- I do not think I am alone.

Moving to a tax-haven island in the Caribbean and renouncing my US citizenship was my version of "going Galt". I figure I not freed myself but now my 4 boys are also free. The US holds onto its tax slaves no matter where they live while other countries let go if they move away. Of course taxes has been going up here since I moved here but they are still low compared to the USA.

The problem with a small country, however that is defined, is dependence on outside resources and lack of a respectable military for defence, -- against pirates or whatever. The strong will pray on the weak if /when things fall apart, unless --- the weak are under the radar. However with today's technology, ---- what is under the radar? Being in the belly of the beast may be wiser. --- Example, and for what it is worth --- Australian military plans for invasion of Fiji and PNG , http://www.wsws.org/en/articles/2012/06/paci-j12.html

cheers

[Higgenbotham]

This time, the fight that matters is within the Republican party, and that fight is over whether compromise itself is legitimate.** Outsiders to this struggle -- the president and his administration, Democratic legislators as a group, voters or "opinion leaders" outside the generally safe districts that elected the new House majority -- have essentially no leverage over the outcome. I can't recall any situation like this in my own experience, and the only even-approximate historic parallel (with obvious differences) is the inability of Northern/free-state opinion to affect the debate within the slave-state South from the 1840s onward. Nor is there a conceivable "compromise" the Democrats could offer that would placate the other side.

http://www.theatlantic.com/politics/arc ... ad/280062/

One of the biggest differences between the current shutdown situation and the ones that occurred in 1995 and 1996 is that Bill Clinton could negotiate with Newt Gingrich knowing that the deal they agreed to would be accepted by their respective political parties.

That's absolutely not the case today.

http://www.capitalgainsandgames.com/blo ... te-himself

[aedens]

http://www.freep.com/article/20130714/O ... s-retirees

Her pension check is small — just $594 a month — but coupled with the $1,100 she receives each month from Social Security, it’s enough to get by.

[vincecate]

The problem with a small country, however that is defined, is dependence on outside resources and lack of a respectable military for defence, -- against pirates or whatever. The strong will pray on the weak if /when things fall apart, [...]

This island is a British Colony, so we have a respectable military defence, we just don't have to pay taxes to support it. Really a good situation.

The other problem with a small island is that it is easy to move toward a dictatorship. Again having a British governor here keeps that from happening.

I think a small island could be fine if the population were like the Swiss where all men had guns.

[gerald]

The problem with a small country, however that is defined, is dependence on outside resources and lack of a respectable military for defence, -- against pirates or whatever. The strong will pray on the weak if /when things fall apart, [...]

This island is a British Colony, so we have a respectable military defence, we just don't have to pay taxes to support it. Really a good situation.

The other problem with a small island is that it is easy to move toward a dictatorship. Again having a British governor here keeps that from happening.

I think a small island could be fine if the population were like the Swiss where all men had guns.

And what is the British situation? And the need for supplies, medical, etc.? A few guns against who? And if all goes to shit?, then what? ---all bets are off.-- blood in the streets --- then worse ----I hope it doesn't happen,-- but it has before.
cheers

[Higgenbotham]

Recently, many have come to the conclusion that today's colleges and universities are not preparing their graduates for the real world.

Therefore, I will be submitting a business plan to the Wall Street banks proposing to establish a for-profit college that will prepare young people with the skills needed in the workplaces of today in the United States. A sampling of the courses offered:

Relativistic bean counting and Ponzi finance 101. This teaches the student how to muck up a balance sheet like the best of them. The highlight of this course is a trip to Madoff's jail cell where the student learns how to run a Ponzi for two decades without getting caught.

Community organizing your way to success 301. This is definitely a 300 level course as it is quite advanced. It teaches the student who comes from a background that is so screwed up nobody even knows where you were born to really make something of yourself by learning useful skills such as teleprompter reading, playing a crappy round of golf when you should really be working but don't understand your job, and how not to negotiate with the people you should be working with so your workplace gets shut down but it doesn't matter anyway.

Working the welfare system 100. This is our basic course for the low class shmuck who wants to live off the government. Covered are how to apply for and get the maximum dollar amount of food stamps, AFDC, child support, energy assistance, rent assistance, free telephone, disability, and any other welfare program in existence in the United States today. Plan to spend 2 semesters studying this one.

Waddling up to the window for a bailout 406. This is an advanced course and caps off our degree program. Here, an instructor from the NSA has been commissioned to sleuth through the secretive denizens of the top financial institutions in the US to learn exactly how to get "free money" from the Federal Reserve. Students who successfully complete this course have a 100% job placement rate with the nation's top banks, even the ones with tattoos, poor communications skills, or body odor so bad it could clear a room.