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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (111627)	5/16/2010 3:04:57 PM
From: mishedlo	10 Recommendations Read Replies (5) \| Respond to of 116555

Public employee abuses are a drop in the bucked compared to the monumental ripoffs carried out by the financial industry and hedge funds at the expense of the middle class. Frankly that is bullshit But more importantly it is irrelevant. People have a choice. They did not have to buy houses at absurd prices, and they did not have to invest in the stock market. OTOH we all have to pay for public union corruption. One is voluntary, the other is forced. I am sick of such horseshit arguments. Two wrongs are still both wrong and it is beyond stupid to say "Well what Susie did was worse" You sound like a 8 year old kid defending himself for stealing a candy bar because his friend Suzie Q stole two. Get real. Mish

To: Crimson Ghost who wrote (111627)	5/16/2010 8:54:36 PM
From: valueminded	1 Recommendation Read Replies (1) \| Respond to of 116555

Bottom line is they are abuses. To justify an abuse by saying well look behind door #2 because what they did is arguably worse is trying to rationalize at best.

To: Crimson Ghost who wrote (111627)	5/16/2010 11:07:14 PM
From: fishweed	2 Recommendations Respond to of 116555

Crimson Ghost - You do realize you are debating with a fund manager, hedgefund or otherwise?

To: Crimson Ghost who wrote (111627)	5/17/2010 10:16:33 AM
From: studdog	33 Recommendations Read Replies (4) \| Respond to of 116555

Mish, I think Crimson Ghost is correct in this. When the income of the top 25 hedge fund managers (all taxed at 15% and generated while producing nothing) is equal to the salaries of 680,000 high school teachers, then we have a problem. The unions of those teachers don't look very effective when compared to the lobbying efforts of the finance industry. As our middle class has shrunken and the moneyed class has ballooned, the relative lobbying power of the middle class has dwindled. Despite the efforts of the unions the middle class has lost alot of ground over the last 20 years. Blaming the unions for our problems is like complaining about uncomfortable deck chairs on the Titanic. The iceberg is wealth concentration and capital misallocation (driven by short term greed)in the private sector and general government ineptitude and corruption on the public side, allowing the former to happen. huffingtonpost.com Studdog

To: Crimson Ghost who wrote (111627)	5/17/2010 10:35:15 AM
From: Wheaties	Read Replies (1) \| Respond to of 116555

the worse savers do, the better every asset does. the less jobs are lost. yes those with the most assets do better, but" we are all keynsians now" ( nixon) so what should we do. play the game and try to make, or at least keep whatever you have. Keyens was wrong, savers are what drive investment, and that fuels growth. with low or zirp, we got 20 years in 5..now we have 15 years ( from 2004-5) to pay. when all assets go down in the next couple years, those with more assets , will lose more. those with cash will lose to inflation, but they should see the point when their cash will be king, then they can own assets they would never have been able to buy w/o the downfall. i.e they will be rewarded.