VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Main index ] [ Search | Check update time | Archives: 1, 2, [3], 4, 5, 6, 7, 8, 9, 10 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 18:41:16 10/12/11 Wed
Author: bill
Author Host/IP: 141.153.227.10
Subject: Re: Something I wrote about 3 years ago....
In reply to: Mark S. 's message, "Re: Something I wrote about 3 years ago...." on 17:07:00 10/12/11 Wed

That hedge fund trader was doing nothing new as the same thing was done during the arab oil embargo. the onlky difference seems to be that he managed to buy up all the futures contracts in a single year which smacks of monopoly which is illegal in this county but apparently not in europe where no US agency could touch him if they were so inclined.

One of my neighbors since deceased was an oil trader in the twin towers complex back then and post 911 he remarked that there was no economic reason why the price of a barrel of crude should have gone up from the level it was before the attack. had he been in his office the day the towers fell instead of at a doctors office for tests for heart problems one of the upright structural supports would have gone through him not just his office and the desk where he would have been seated as well as most of the rest of the offic building he worked in.
His opinion was that it was a definate case of price manipulation by the fund investors maximizing their profits because there was a war situation and they could stick it to the rest of the world by doing that.

Bancruptcy has been a method to restructure bad debt and failing finances for decades. many companies have used it to restructure and get back in the game as have many individuals. when the rules were changed back during the Bush years there was a pattern of abuse by companies and individuals who were using it to get out of debt without paying their bills not restructuring to remain in business or to recover frm bad finances. there were many who bought companies then sold off the good assets so they could claim bancruptcy and dump what was left. Florida was notorious for letting anyone from anywhere file for bancruptcy down there and do this. the laws were rewritten to stop abuses like this but in the process it made private individuals who could have used this process for personal restructuring less able to do that and no one seems to have cared that this was the result. As I remember it there were people on all sides of the debate who opposed it for this same reason but the majority on both sides seems to have not taken this serously enough to put in place any fail safes for the private individuals when the laws changed.

Harrisburg was neither the first nor will it probably be the last to decide on bancruptcy to restructure a local economy. there have been plenty of towns , cities , counties and even states that have considered it in this economy though they usually found another way.

It interests me that there has never been a way to top things before they get out of hand. it is another example of the statement that the us will try everything anf fail ntil they finally do the right thing. ... still waiting for the right thing to come around.

Back when My cousin David was elected president of his high school class it was the custom to pass on the budget from the previous class to the next. if there was a surplus this was a good thing. However when he came into offiuce the prevous clas had rung up a vast debt and he simply told the school that his cass would not honor the tradition and was starting over from zero. his point was that they were not responsible for the bad actions of the previous administration and would live or die on their own actions.
( they left a profit that was larger than that vast debt when they moved on by the way )
The present admin on the national levl is not apparently wiling to live or die on heir own merits as they keep trying to blame the last administration which did not leave that much of the debt compared to where it is now. they want to blame everything on the bush people when it is a fact that the bush adminiastration was doing fine until the demorats got control of both houses of congress and the business world decided they could no longer count on anything being stable anymore.
If the economy is in a mess it is more on the heads of the present administration and the do nothing senate majority tha anyone else. they refuse to think of anything other than raiseing taxes and spending money they do not have and printing unbacked fiat money to do so . If anything is responsible for the bad economy it is thoughtless programs and actions like this.

no one is without blame but only one side is being blamed and they did less to cause the problem than the one which is not.

[ Next Thread | Previous Thread | Next Message | Previous Message ]
Forum timezone: GMT-5
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.