Cyprus now has a open position for a Goldman Sachs alum 
Is this the beginning of our next game of dominos? We shall see
Our global interconnected fiat/debt ridden ponzi scheme ain't it just grand!!!! We need more printing so we can create even mmore long term problems/bubbles!!!!
Is this the beginning of our next game of dominos? We shall see
Our global interconnected fiat/debt ridden ponzi scheme ain't it just grand!!!! We need more printing so we can create even mmore long term problems/bubbles!!!!
All Germany would have to do is to say that 'no bailout' and depositors would lose all their money. In that case a 6% haircut would look quite good
What irks me the most that senior bondholders are/were not asked for a haircut on their holdings. When actually it should be them who would have to pony up. They are supposed to be the savvy investors, not your Joe and Jane Does who just deposit their paychecks into their neighborhood banks.
Senior bondholders like the nice yield on their risky holdings but refuse to take losses when shit hits the fan. Niiiiiicce
What irks me the most that senior bondholders are/were not asked for a haircut on their holdings. When actually it should be them who would have to pony up. They are supposed to be the savvy investors, not your Joe and Jane Does who just deposit their paychecks into their neighborhood banks.
Senior bondholders like the nice yield on their risky holdings but refuse to take losses when shit hits the fan. Niiiiiicce
That would leave a black eye on the EU
What Cyprus should do is ... Default/Devalue/decouple from the EU ... And give the EU the finger ... They would be better off long term although thei would be near term pain
Globally in our over managed fiat ponzi scheme economy the trend is to patch thing up to put pain off today to make tomorrow even worse ... Yeah the pain might be spread out and diluted over the course of decades.vs having to go through a yer or two of major pain ... But it's the better option for the county long term
See iceland
What Cyprus should do is ... Default/Devalue/decouple from the EU ... And give the EU the finger ... They would be better off long term although thei would be near term pain
Globally in our over managed fiat ponzi scheme economy the trend is to patch thing up to put pain off today to make tomorrow even worse ... Yeah the pain might be spread out and diluted over the course of decades.vs having to go through a yer or two of major pain ... But it's the better option for the county long term
See iceland
It's just a cat and mouse game when it comes to this
EU makes initial proposal, Cyprus knows EU doesn't want them black eyeing the EU by decoupling so reject initial offer, now we await the counter proposal from EU (throw Russia into the mix over negotiations and gets complex fast)
EU makes initial proposal, Cyprus knows EU doesn't want them black eyeing the EU by decoupling so reject initial offer, now we await the counter proposal from EU (throw Russia into the mix over negotiations and gets complex fast)
[h=1]Retirement Crisis: A World of Poor Baby Boomers[/h]
The Employee Benefit Research Institute (EBRI) has published its annual Retirement Confidence Survey which confirms what virtually all such surveys have concluded: 1) that Americans are living longer; and 2) that they do not have anywhere near enough saved for retirement.
The sad truth is, Americans do almost no thinking about what kind of retirement they want. They mistakenly assume thatSocial Security is a retirement program, when in fact it is a supplemental retirement program. The three "stools" of retirement-Social Security, a pension, and private savings-have all seen some shrinkage in the past few years.
For Social Security, all baby boomers know the truth: We are going to be working longer, into our 70s, paying more and getting less. Pensions are going away: International Business Machines (IBM) stopped providing pensions to new employees a couple years ago, and many are facing reductions in their benefits.
(Read More: The US Cities That Are Most Prepared for Retirement )
And private savings? Let me quote from the EBRI survey: 57 report having less than $25,000 in household savings and investments (excluding their home and pension benefits). This is for all workers, so older workers would have more money, but other surveys show the results are equally paltry.
This is just the tip of the iceberg: American households are so strapped that only half could come up with $2,000 in cash if an unexpected need arose in the next month.
(Read More: Choice for Tight Times: Save More or More Risk )
You would think that savings levels would increase, but no: The percentage reporting saving anything for retirement is at 66 percent, down from 75 percent in 2009.
People are also living much longer than their parents: A male reaching retirement age in 2013 is expected to live to an average of 85, a woman to 87.
What this means: A retirement crisis is looming. In a little more than a decade, there will be a lot of older people who will run out of money. There will be stories written in the year 2025 about Joe Smith, 82, a retired auto worker, living in a flophouse on $2,100 a month in Social Security after his pension was cut off and his personal savings ran out, while his children, in their 60s themselves, moved 2,000 miles away.[FONT=Palatino, Georgia, Times, 'Times New Roman', serif] [/FONT]
The Employee Benefit Research Institute (EBRI) has published its annual Retirement Confidence Survey which confirms what virtually all such surveys have concluded: 1) that Americans are living longer; and 2) that they do not have anywhere near enough saved for retirement.
The sad truth is, Americans do almost no thinking about what kind of retirement they want. They mistakenly assume thatSocial Security is a retirement program, when in fact it is a supplemental retirement program. The three "stools" of retirement-Social Security, a pension, and private savings-have all seen some shrinkage in the past few years.
For Social Security, all baby boomers know the truth: We are going to be working longer, into our 70s, paying more and getting less. Pensions are going away: International Business Machines (IBM) stopped providing pensions to new employees a couple years ago, and many are facing reductions in their benefits.
(Read More: The US Cities That Are Most Prepared for Retirement )
And private savings? Let me quote from the EBRI survey: 57 report having less than $25,000 in household savings and investments (excluding their home and pension benefits). This is for all workers, so older workers would have more money, but other surveys show the results are equally paltry.
This is just the tip of the iceberg: American households are so strapped that only half could come up with $2,000 in cash if an unexpected need arose in the next month.
(Read More: Choice for Tight Times: Save More or More Risk )
You would think that savings levels would increase, but no: The percentage reporting saving anything for retirement is at 66 percent, down from 75 percent in 2009.
People are also living much longer than their parents: A male reaching retirement age in 2013 is expected to live to an average of 85, a woman to 87.
What this means: A retirement crisis is looming. In a little more than a decade, there will be a lot of older people who will run out of money. There will be stories written in the year 2025 about Joe Smith, 82, a retired auto worker, living in a flophouse on $2,100 a month in Social Security after his pension was cut off and his personal savings ran out, while his children, in their 60s themselves, moved 2,000 miles away.[FONT=Palatino, Georgia, Times, 'Times New Roman', serif] [/FONT]
lol I'd call that irrational fear. Will one day confiscate your IRA? He is gonna be president like what 45 more months?
I might need to start a IRA/401k insurance company and anyone that thinks the Gov't is just going to confiscate IRA/401k's I will pay cover it when it happens.
Granted this would be a total scam and I'd go to jail but seems like there is a demand for it.
All Germany would have to do is to say that 'no bailout' and depositors would lose all their money. In that case a 6% haircut would look quite good
What irks me the most that senior bondholders are/were not asked for a haircut on their holdings. When actually it should be them who would have to pony up. They are supposed to be the savvy investors, not your Joe and Jane Does who just deposit their paychecks into their neighborhood banks.
Senior bondholders like the nice yield on their risky holdings but refuse to take losses when shit hits the fan. Niiiiiicce
35 bil EURO belongs to the Russians.
The Germans just want some of it.
Hah.
Thinking about the retirement situation in this country 20 years from now scares me.
The fact that only half of America can come up with 2K in a month for an unexpected expense is mind boggling.
How anybody expects people overall to save in a stagnant wage environment while the cost of necessities skyrockets is bbeyond me ... Couple that with zero rats which taunts idiots to be debt slaves and live beyond their means
But eh this is the path they've chosen for us ... At least the 1% is getting fatter eh
At some point something will snap ... And when that does its gonna get ugly ... Many people just praying the market doesn't fall apart and they can get some gains the next 10-20 ... PProblem with that even if it does pan out you still gotta deal with tehe inflation problem
In the end there is no free lunch somebody has to pay ... And based on the complacency/stupidty of the populace it's not likely to be those who cause the problems (the elites) but rather the have nots
we'be become a very short sided pussified society that isn't willing to deal with reality or pain ... So we will dig the hope deeper in order to extend the status quo
Just see no way out at thos point we dug ourselves in too deep a hole am given "them" toouch control ... Mexico north (tiny middle class an a uber wealthy elite class see carlos slim monopoly man) is where we headed
But eh this is the path they've chosen for us ... At least the 1% is getting fatter eh
At some point something will snap ... And when that does its gonna get ugly ... Many people just praying the market doesn't fall apart and they can get some gains the next 10-20 ... PProblem with that even if it does pan out you still gotta deal with tehe inflation problem
In the end there is no free lunch somebody has to pay ... And based on the complacency/stupidty of the populace it's not likely to be those who cause the problems (the elites) but rather the have nots
we'be become a very short sided pussified society that isn't willing to deal with reality or pain ... So we will dig the hope deeper in order to extend the status quo
Just see no way out at thos point we dug ourselves in too deep a hole am given "them" toouch control ... Mexico north (tiny middle class an a uber wealthy elite class see carlos slim monopoly man) is where we headed
Us is absolutely F'd long term no ifs and buts about it ... As far as the real economy ... The olden days if strong middle class is gone ... Just a ? Of how things unfold ...
Yes people will survive and life will go on ... I know I know ... But the plight of your average American citizen will continue to get tougher as far as just finding enough to get by and maintain your current standard of living
Yes people will survive and life will go on ... I know I know ... But the plight of your average American citizen will continue to get tougher as far as just finding enough to get by and maintain your current standard of living
Anyway most of this rambling is targeted at the have not class ... Those like us with some education, that live a conservative lifestyle within your means, came from a decent family got a decent education will be fine
Mainly I'm talking about the lower class who idolize obama hope and change type stuff and have absolutely no idea what is really going on
Mainly I'm talking about the lower class who idolize obama hope and change type stuff and have absolutely no idea what is really going on
