Wall Street Screws Us again...

Discussion in 'Off Topic' started by BigBlue, Jul 21, 2013.

  1. BigBlue

    BigBlue Active Member

    Here's an article from the New York Times on how the big financial institutions have driven up the prices of commodities - aluminum and copper.

    http://www.nytimes.com/2013/07/21/b...um-but-to-banks-pure-gold.html?pagewanted=all

    Now, if only Detroit figured out how to tax each bar that enters or leaves the warehouse, they'd be able to pay off the debt and not file bakruptcy - too easy!
    Chris
    AKA: BigBlue

    P.S. I am sure Goldman Sachs probably owns the Detroit bonds and gets tax breaks form Detroit for storing the aluminum.
     
    Last edited: Jul 21, 2013

  2. Pablo

    Pablo Motored Bikes Sponsor

    They do this to circumvent regulations - the ironic thing is, perhaps maybe, just maybe without such regulations the free market would take care of this silly scheme. Hopefully if the price goes down, leave them hanging.....
     
  3. Fabian

    Fabian Well-Known Member

    Wall Street creates the rules (in their favour), then lobby groups twist the hand of the government to write favourable legislation, then the ordinary man and woman on the street gets screwed.

    The big boys on Wall Street never get screwed.
     
  4. Skyliner70cc

    Skyliner70cc Active Member

    Wow, advocating even higher taxes? Can't tax your way into prosperity, that has never worked.


     
  5. Fabian

    Fabian Well-Known Member

    That is not entirely true for the Australian federal government is taxing Australians to the eyeballs and the economy is roaring along like never before, with so called prosperity oozing out of every hole and every mineral dig.
    The people are complaining that they have never had it so hard, yet big screen TV's and home entertainment systems for their McMansions just keep flying off the store shelves.

    It has been said many times that Australia is the miracle economic model where high taxes and high prosperity can coexist.

    My wages are taxed at the 48% which is an eye watering amount and i get precious little in return from the government.
    Can you imagine the hoo-ha Americans would be screaming if they were taxed at 48%.
     
    Last edited: Jul 23, 2013
  6. grinningremlin

    grinningremlin Active Member

    That's if you can get a 300+lb bovine, contestant-show watching, drool-cup needing, "american" to inhale deeply enough to muster a scream, they usually save that for defecation.
    The grand master Bernake is printing money faster than a xerox, and devaluing the $ to the point of the 1980's mexican peso, and calling it stimulus.We'll be back to trading chickens soon, hard to tax chickens, but wall-street will be rolling in feathers, as usual.
     
  7. KCvale

    KCvale Motorized Bicycle Vendor

    You seem to be pretty familiar with these American's... friends, family, you maybe?
    I don't know a single one and I have a lot of friends and family.
    That is quite the interesting take on the American monetary system as well, do you get this info from like Glenn Beck or Rush Limbaugh?

    Just curious is all as you seem as worked as those guys get for TV and not a very understanding of finance.

    Perhaps you are a financial scholar and would do a better job of bringing the economy back around after years of trillion $ BS wars we have to pay for and ya, some pretty shady lending practices especially high risk bundled mortgage 'investments' by banks but as is the American way we helped them out, set new rules to end the practice, and all of the money has already been back with interest.

    Perhaps you might want to see who Ben Bernanke is and what his job is, hint, it's not printing money and he is one smart dude.

    http://www.federalreserve.gov/aboutthefed/bios/board/bernanke.htm

    I would go into commodities and the stock market but if you had any money invested even a 401K you would be smiling now.
     
  8. Fabian

    Fabian Well-Known Member

    Unfortunately America needs to devalue it's currency to little more than the Mexican peso, thereby enabling it to pay back gargantuan levels of debt at a reduced cost. In such a situation the burrower is servant to the lender and China will dictate how America spends "their" money.

    As Hilary Clinton once said: "how do you deal toughly with your banker"
     
  9. grinningremlin

    grinningremlin Active Member

    Family, yes, friends, future fatties on the way, me I'm 6ft 175lbs of muscle/sinew.Unless you live in Seattle or Denver or never been to a Wal-Mart I'd say you're lying.Though,... you may comb your hair in a funhouse mirror, are you within your BMI??

    NAWWWW, but I'm sure Forbes gets their info straight from Rush.http://www.forbes.com/sites/afontev...ess-we-are-printing-money-just-not-literally/
    http://www.forbes.com/sites/charles...serves-explicit-goal-devalue-the-dollar-33/2/
    Yes, we all know the fed prints money, on who's decree?
    If you think investing in a fictitious/fluctuating currency is a good deal, good on ya.Me, I've bought land and everything I need to continue my lifestyle no matter where the dollar is.If and when the electricity grid goes down, or water begins to cost as much as gas, I'll be blissfully plodding along.You may want to buy a fiddle so you can have a soundtrack to the fire.
     
    Last edited: Jul 24, 2013
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