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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (57785)	11/12/2009 4:08:20 PM
From: Maurice Winn	4 Recommendations Read Replies (2) \| Respond to of 219940

It looks as though the money is flooding into mobile cyberspace. ElM can pick his job around the world. With umpty mega$billion being wastreled by the USA Federal Government, some of it should slosh your way via mobile cyberspace which is a very low contributor to CO2 emissions and also enables people to avoid driving their 2 ton Yank Tanks to the mall to buy a Wi-Fi router because they can buy it on-line cheaper, faster and more conveniently and have it delivered by a courier for almost no cost while the courier delivers another hundred items in the neighbourhood. Meanwhile, I might have to revise my predicted Dec 2010 gold price upwards to account for the profligately rampant spendthrift USA government deficits: $176 billion record deficit in October finance.yahoo.com <China, the largest foreign holder of U.S. Treasury securities, has expressed concerns about the size of the U.S. deficits, prompting administration officials to issue repeated pledges that it will start to tackle the deficits as soon as the recovery is on more sustained footing. Treasury Secretary Timothy Geithner, on a visit to Tokyo on Wednesday, told reporters that "as growth recovers and strengthens, we're going to bring our fiscal positions back to a sustainable balance." > For years I was at the sharp end of managing credits and collections from small and large organisations who were buyers of petroleum products from me as their salesman [so it wasn't just paperwork from the end of a phone - it was up close and personal]. I was highly adept at it, to world championship levels. Money isn't an intellectual activity so much as an emotional activity. As the salesman responsible for issuing credit to the said US officials and collecting the existing debts, I would have major red alert bells ringing and no more credit would be going out the door. People like that will absolutely NOT be repaying the money and will twist and wriggle every which way to get more credit and more deliveries of product. For those people it has to be cash on the barrel-head, while they are advised how to manage their affairs and enter into a repayment programme. The International Monetary Fund has dealt with such borrow and hope dead-beats for decades. Such debtors cannot self-manage their way out of it. They require somebody else to take control of their financial affairs, cutting off their credit lines and reeling them in, explaining to them how to cut their expenses, generate sales, fire hordes of employees. The USA government is not just in a temporary tight spot. They have dug themselves into a hole with a belief that they are richer than they are and have been spending in the manner to which they have become accustomed. Now, lean and hungry competitors are doing a better job cheaper. No longer do people around the world have to pay USA companies big heaps for things which are Made in China for a fraction of the price. The economy isn't going to just "come right". Economies aren't machines that just need the right tweaking on the dials. They are made up of millions of people getting up each morning and doing good things which other people choose to buy. People don't want to get up in the morning and work for people who are not rewarding them for their efforts - promises to pay later are not acceptable. The good news is that such debtors normally can be managed back onto the straight and narrow. Normally they can do a good job, be profitable and successful, but they cannot be allowed to get hold of cash. They need external management control. An interesting aspect of credit problems [which surprised me when I first came across it] is that the borrower blames the creditor and in quite vituperative terms. "If they hadn't let me get into so much debt I wouldn't have got into trouble. It's all their fault." One minute later: "If they would just give me one more truck-load of petrol I'll be able to pay for it after I've sold it and trade my way out of debt." They really can't see that it's their own attitudes, ideas and values which created the problem. Simply shoving them into bankruptcy is normally not a good idea, though that's sometimes unavoidable if they really are unable to manage the business. Normally, with some good control, they can be brought back on stream and the debts recovered. They are then happier! They didn't want to be in the horrible situation. In a way, the debtors are right and it is the creditor's fault, because such people who borrow and hope stick out like a sore thumb when they first show up. A sensible seller should be able to take one glance at the person, business and context and say, "Sorry, we aren't willing to give the product on credit, but we'd be delighted to deliver first thing in the morning, when the money is in the bank." In the case of mortgages, sorry, no loan right now but we'd like to open a savings account for you and once you are saving 20% more than a mortgage would cost, we'd be happy to extend a loan for a house. Then, you'll not only be able to manage your mortgage, but you'll be saving over and above that to buy medical treatment in emergencies, take time off to get a better job, go on a holiday with the family and enjoy life a lot. Mqurice