Lake Erie Conservative

thoughtful discussion(s) about issue(s)

Posts Tagged ‘finance’

… Puerto Rico needs a Financial Restructuring [#Chapter 9]…

Posted by paulfromwloh on Wednesday,January 18th,2017

.. or , the rough equivalent of a Chapter 11 bankruptcy reorganization ..

.. yes , the public sector bondholders are going to take a serious ” haircut . ” But doing so will also teach them an important lesson . The US Government ‘ s Treasury is not a bottomless pit , where states and other entities can go for a bailout when the need suits them …

.. [h/t — Newsmax.com]..
.. [link] to the blog post …

.. that way , once Puerto Rico emerges from its restructuring , it will have to pay a much higher price for its financial folly . In that way , it will do so just like any business that goes through a Chapter 11 bankruptcy reorganization plan . public entities are different , though ..

.. you cannot breakup a state , county , or local government . You have to live with what is there . The near – term financial future for that reorganized entity will be tough . But it will have learned a very hard set of lessons ..

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… If the ObamaCraps are willing to Supply these Electronic Features to Egypt [#and other Nations][#surveillance][#technology]…

Posted by paulfromwloh on Friday,December 9th,2016

.. according to this intel report , the ObamaCraps are considering [and are likely to supply] the support of Egypt , Tunisia , and Israel with border control technology . It is not exactly cheap , either . The intel estimate is around $100 million to $500 million . My guess is that it is going to cost about 10 to 20 times that amount , or about $8 billion to $10 billion …

.. You had better believe that this request is going to go to Congress . It is an important appropriation . You are taking about some serious scratch , well above these countries ‘ annual aid request , espc. Egypt ‘ s . Tunisia right now barely gets anything at all . Also , the ObamaCraps like to play games with the aid that goes to Israel in order to swend a political message to Bib . So doing this means they are likely to put that aside [for once] for the greater good of battling ISIL ..

.. [h/t — DebkaFiles.com]..
.. [link] to the intelligence report ..

.. Israel can help fund this on its own . Egypt can help , but even it needs help . The Tunisians need a ton of help .. Also , all three countries are seafaring nations , so that also has to be considered , as well ..

.. at least these dummies are considering getting off their butts for once . No , they are not considering sending US troops , at least not yet . But they are at least will to send some US personnel in order to train these folks in order to help themselves . That is , for once , at least , a big switch …

.. you can bet the Hill [Congress] is going to have questions . Lots of them . Including ones about our own southern border …

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… Interest Rates Needed to Go Up [#Real Interest Rates]…

Posted by paulfromwloh on Friday,November 25th,2016

.. hey folks , it is a time that had to come ..

.. interest rates have been at ” zero ” for quite a long time . 8 years , to be matter of fact ..

.. it is a region at which interest rates normally do not operate . They rise . They fall . But they do not belong at zero . They were kept down there for a good reason ..

.. [h/t — Newsmax.com/Finance]..
.. [link] to the blog post ..

.. due to idiotic government policies [and edicts] , the financial system nearly fell in on itself in 2008 . Bush – era policies are usually blames , but , in fact Clinton – era [and Carter – era] policies were , in fact , responsible for the financial collapse . Now it is time for the financial markets to be returned to normal operating conditions ..

.. it also means allowing interest rates to ” come up off the deck , ” and operate in a normal environment …

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… Why China is a Problem [#state sector]…

Posted by paulfromwloh on Wednesday,November 23rd,2016

.. when you are a communist nation , and you begin to reform , you do have to privatize . But , you also have to allow the private sector to create things on its own . Don’t direct it . let the private sector work ..

.. but , you are still a Communist nation . You still have a state sector to deal with . Boy , does China have a problem to deal with , and how ..

.. China allows the state sector to operate as a jobs – creation machine . It does not , in this case , give a flip about profits and or losses . It just wants the jobs . You bet , that that situation is the problem ..

.. [h/t — Newsmax.com/Finance]..
.. [link] to the blog post ..

.. the state sector has to be allowed to shrik it way out of existence . Otherwise , China will continue to have grossly outsized economic distortions , as a result …

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… Greece is Now in Real Trouble [#the Euro]…

Posted by paulfromwloh on Saturday,June 18th,2016

.. the I.M.F. walking out of talks is not good ..

.. but neither is giving Greece more debt in order to pay off previous debts . That just does not make any sense at all . Extending the maturities will not do enough …

.. [h/t — FinancialTimes.com]..
.. [link] to the blog article …

.. You have to reduce the amount of principal , and , if possible , the interest rates , as well . Greece does not really merit a reduction in the interest rates , though . The principal reduction should do the job ..

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… The ObamaCraps should Not Meddle [#Greece]…

Posted by paulfromwloh on Thursday,June 16th,2016

.. those idiots in the ObamaCrap White House should know better . They have a hard enough time understanding our economy as it is . Now they are trying to meddle elsewhere . Yes , it is bound to get them into trouble …

.. the Europeans and Greece are having a hard enough time settling their own affairs as it is . The Euros keep piling more and more debt on the Greeks , instead of writing it off . The Greeks cannot pay what they have to pay now . one cannot expect them to pay more ..

.. [h/t — Newsmax.com]..
.. [link] to the blog column ..

.. yet the ObamaCraps are leaning on the Euro institutions and the I.M.F. . They want them to ” take it easy ” on the Greeks . That is hardly a way for the Greeks to pay off a manageable amount of debt , much less their current load . However , it is the Euros business to settle , not ours . It is not the place of the ObamaCrap White House and His Lordship to stick their noses in wheat is not their affair …

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… Now Puerto Rico is In the Deep Soup [#default]…

Posted by paulfromwloh on Wednesday,May 11th,2016

.. Puerto Rico is now in deep trouble . They have now officially defaulted on about $400 million in government debt for a specialized agency . it is just one default , but there will be others to come ..

.. as a territory [officially a commonwealth] of the United States , the P.R. cannot file for bankruptcy w.o. the permission of Congress . Right now , Congress is not forthcoming with that permission , at least not as of yet . But the debate has been engaged on the subject ..

.. [h/t — Newsmax.com]..
.. [link] to the blog post ..

.. since many essential services in P.R. are delivered by the P.R. government , the P.R. is husbanding what few resources that it currently has . They are keeping essential services , such as schools , police , fire , and others ..

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… Financial instability in the Banks is Going to Drive This [#Greece][#financial crisis]…

Posted by paulfromwloh on Friday,January 1st,2016

.. it is the instability of the financial system , and that of the banks , which is going to drive this financial crisis …

.. why ? the outflows from the banks . The banks cannot sustain this for very long . With that comes pressure on the Greek Government from ” behind its lines …”

.. [h/t — Reuters.com]..
.. [link] to the blog news post ..

.. the Euro carries a deep well of popular support . It is a great deal more than the Greek drachma ever has had . So , it is in the Greek Government ‘ s interest to eventually make a deal …

— [update] — that it did .. the crisis was eventually settled after a  couple of weeks , but at a high cost .. several major Greek banks collapsed as a result of this brawl … also , Syriza [Greece ‘  s  current governing majority party] may well have won a majority again at an  election , but they  have the task  now of reviving  the economy ..

.. the business community will not be happy with radical leftists at the controls . They will be the ones picked on by the government for tax revenue .. Well , the business will not  be too  cooperative with investment unless Syriza agrees to play ball on spending ..  the EU and the ECB should be of help …

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… Greece is Losing Its Fight [#the Euro]…

Posted by paulfromwloh on Sunday,July 12th,2015

.. the Greeks have done quite a bit to fix things ..

.. but they still have major problems with their ” friends ” in the Eurozone : …

.. [-] finance — their level of debt climbs ever higher . They never seem to change enough ..

.. [-] sustainability — the Greeks do not seem to be able to hold in with their reform programme for the long term . The frequent changes in government do not help …

.. [-] trust — Greece is not trusted by the powers – that – be in the Eurozone . These folks feel that no matter what they do , Greece is doomed ..

.. [h/t — Newsmax.com]..
.. [link] to the blog post ..

.. so Greece is still in deep , deep trouble …

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… Greece is Hanging on the Precipice [#financial disaster]…

Posted by paulfromwloh on Tuesday,June 30th,2015

.. Greece could soon be on its own , without the help of the E.U. …

.. I think that the E.U. has reached the end of the line with Greece . They have negotiated and manuveured with the Tsipras Government , but to no avail . Now the Greeks have set forth a July 5th referendum on the reforms that the E.U. wants Greece to adopt . So , what happens now …

.. [h/t — Newsmax.com..]
.. [link] to the blog post …

.. at the least , Greece will be in default to the I.M.F. . This is a situation that will be unprecedented in international finance . It is a very good question about what the I.M.F. is going to do about it …

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… I would tend to wonder [#Q2 GDP]…

Posted by paulfromwloh on Sunday,August 10th,2014

.. the underlying facts on this one do not fit ..

.. especially with consumer spending . The spending by consumers makes up 65% of our economy . So , in the 2nd Quarter , consumer spending was up , but only by 2.5% …

.. and the Department of Commerce says our GDP rose by 4.00% in the 2nd Quarter ?? It does not make sense …

.. [h/t — HotAir.com]..
.. [link] to the economic report ..

.. also , I will tell you why . The amount of investment , or , to be honest , the lack thereof …

.. a lot of the upside in this is from inventory buildup . You have that with an expansion , but , if there is any falloff , then look out below . Also , you have a problem with the lack of gain in general investment . You really cannot have a sustained and strong expansion without it . That is what the ObamaCraps keep forgetting , if they even give a damn about it …

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… Ukraine Stabilizes ?? [#maybe]…

Posted by paulfromwloh on Monday,June 30th,2014

.. it is starting to , but it will be a long process .

.. successful political reforms and political stability will help .

.. [h/t — theAmericanSpectator(TAS)]..
.. [link] to the article ..

.. now , Ukraine need to get busy with economic reforms . Strong structural reforms will help …

.. the signing of the agreement with the European Union will be a good first step . the EU is a market slightly larger than the US , at nearly 380 million people . That will offset the likely loss of business with Russia . Russia has threatened to slap on tariffs on Ukrainian products , which is never good . Russia and Ukraine are traditional trading partners . The EU agreement should not change that ..

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… POTUS supports Hamas [#is he insane] ?!?! …

Posted by paulfromwloh on Thursday,June 19th,2014

.. POTUS and his cronies support the so – called Palestinian Unity government . This is one that includes a terrorist group [Hamas] that is completely and thoroughly dedicated to the destruction of Israel and the mass murder of all Israelis . So what do these goonie birds do ? ..

.. they kidnap 3 innocents from the West Bank [Judea and Sumaria] . One of whom is an American citizen .

.. [h/t –– TruthRevolt]..
.. [link] to the blog news ..

.. what is Obama thinking ? In particular , giving those bastards financial and any kind of moral support . Most of all , and most galling , is what POTUS is doing is against our law . It prohibits the financial and other support of terrorist groups and whatnot …

Funding Hamas is a direct violation of United States law:


(a) Prohibited Activities.—

(1) Unlawful conduct.— Whoever knowingly provides material support or resources to a foreign terrorist organization, or attempts or conspires to do so, shall be fined under this title or imprisoned not more than 15 years, or both, and, if the death of any person results, shall be imprisoned for any term of years or for life. To violate this paragraph, a person must have knowledge that the organization is a designated terrorist organization (as defined in subsection (g)(6)), that the organization has engaged or engages in terrorist activity (as defined in section 212(a)(3)(B) of the Immigration and Nationality Act), or that the organization has engaged or engages in terrorism (as defined in section 140(d)(2) of the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989).

On Wednesday, a day before the kidnapping, 88 senators sent a bi-partisan letter to the Obama administration demanding that the United States cease its assistance to the government:


Dear Mr. President:

We are appreciative of your Administration’s dedication to achieving a two-state solution to the Israeli-Palestinian conflict. Unfortunately, the recent formation of a Palestinian Authority unity government supported by Hamas, a designated Foreign Terrorist Organization that has never publicly accepted the Quartet principles, represents a serious setback to efforts to achieve peace. We are gravely concerned that the formation of this government and President Abbas’ renewed effort to upgrade the status of the Palestinians within international organizations will jeopardize direct negotiations with Israel to achieve a two-state solution.

By its actions and inaction, Hamas has demonstrated it is not a partner for peace. Hamas has openly called for Israel’s destruction and last month Hamas leaders again repeated their refusal to meet recognized international demands: recognition of Israel, renunciation of terror, and acceptance of previous Israel-PLO agreements.

Recent events have consequences as to U.S. assistance to the Palestinian Authority as provided for in the Palestinian Anti-Terrorism Act of 2006 and restrictions contained in the Omnibus Appropriations Act of 2014, including prohibiting foreign assistance to Hamas or any power-sharing government of which Hamas is a member or over which Hamas has undue influence. These troubling developments, including the role played by Hamas in the formation of the government, have undermined Congressional support for U.S. assistance to the Palestinians. Any assistance should only be provided when we have confidence that this new government is in full compliance with the restrictions contained in current law. We urge you to continue to impress on President Abbas the need for him to cease any alliance with terrorist organizations such as Hamas and to return to the negotiating table with Israel.

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… Not a Big Shock [Employers dropping Health Insurance] …

Posted by paulfromwloh on Sunday,May 25th,2014

.. well , you can thank ObamaCrapCare for this .

.. not all of it , though .

.. with medical inflation still galloping along (contrary to the claims of the ObamaCraps and His Lordship) , employers have to do something . They are going to have to put with ObamaCrapCare for now , so , what happens …

.. [h/t — hotair]..
.. [link] to the blog post …

.. simple economics ! …

.. cost of providing health insurance , less …
.. OCC fine for employers ($2000 (oops)) , equals
.. bye – bye , health insurance …

.. hey , great , the employee gets a temporary boost in pay . The employer though , gets more cost certainty , because they and the employee know where that boost is going for , and why . Another dandy : That boost is taxable to the employee .

.. when the employer buys health insurance , they get to use before – tax dollars . It means that the cost of the insurance comes off of the employer ‘ s taxes as a cost of doing business . Not so for the employee . The employee has to use after – tax dollars …. Bummer ! …

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… Nay – Nay , Kickstarter [#Gosnellmovie.com]…

Posted by paulfromwloh on Friday,May 9th,2014

.. the movie is going to get funded , anyway ..

.. so far , the Gosnell project has raised nearly $1.68 million to date . Another $420,000 is still needed ..

.. [h/t — TruthRevolt]..
.. [link] to the blog post ..

.. and it was done without the help of you scumbags at Kickstarter

.. Thank you , and God Bless You , IndieGoGo !!  …

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… Good Luck , Vermont ! …

Posted by paulfromwloh on Tuesday,April 22nd,2014

.. I thought that the People ‘ s Republic of Taxachusetts was bad .

.. Vermont is , it seems , worse .

.. [h/t — m.NationalReview]..
.. [link] to the blog news ..

.. when the commune [state] of Vermont adopted its ObamaCrapCare exchange model , it found that it had a problem — tax money ..

.. it did not have enough of it . It still needs to get waivers from the Feds to wrap Medicare and Medicaid into its single – payer model . But , it still does not have enough tax $$ .. Oops ..

.. Vermont is , however , a small state , of about 670 , 000 people . It produces , normally , about $ 3 billion in state tax revenue every year . To pay for its model , it needs to raise another $2.5 billion — slight problem …

.. even the ” Green Mountain ” gang is not crazy . They may want to adopt a single – payer mondel for ObamaCrapCare — but where does the money come from ?? Great Question . They jack up the taxes , and people go bye – bye …

.. you made your bed , folks . You get to lie in it …

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… You Know the Government has Gone Nuts …

Posted by paulfromwloh on Saturday,April 19th,2014

.. either when the State Department states that it has lost $6 billion in taxpayer funds that it cannot account for , or …

.. or , the Socialist Security Administration steals an older woman ‘ s tax refund … Why ? … there is an old debt from an overpayment to the woman ‘ s father . The debt goes back to the winter of 1977 . Yes , 37 years ago ….

.. the woman ‘ s father is now deceased . Also , the S.S.A. does not have adequated documentation of the debt . So , what happens ? They find the nearest next-of-kin (the woman) and take her tax refund away from her … in other words , they swipe it . They steal it ….

.. I was watching ” On the Record ” with Greta van Susteren when she went ” off the record ” on this one . As nasty as the stupidity of the lost taxpayer funds is , it is not all that surprising . The theft of the older woman ‘ s tax refund is sick and disgusting . The infernal Revenue Service should have known better , and forced the S.S.A. to produce documentation of the debt , and settle it directly with the family , and not get the Infernal Service involved …

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… Maryland drops its Health Exchange …

Posted by paulfromwloh on Tuesday,April 15th,2014

.. but it wants to replace it with …. Connecticut ‘ s ?? …

.. are they kidding ?

.. [h/t LegalInsurrection]..
.. [link] to the blog post …

.. evidently they are not . They are going to blow even more money [after bloweing almost $150 million already] , and they are going to take a Conn model and plug it in , at a cost of $ 30 million after modifications …

.. anyone want to take bets that it is another CoverOregon in the making ? At least Governor Dr. John Kitzhaber is trying to pick up the pieces [unsuccessfully , so far] . If CoverOregon needs to , they will shut down their own site , at the Governor ‘ s direction , and pick up the federal exchange … Mrtin O ‘ Malley in Maryland is an arrogant narcissistic ass . I do not think that plugging in another state ‘ s model will work all that well … not all that well at all …

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… Inflation Doves at the Fed [#HighInflation]…

Posted by paulfromwloh on Tuesday,April 15th,2014

.. Janet Yellen & her cronies are going to get us into trouble .

.. her and her Phillips Curve crowd are dangerous …

.. what are these idiots thinking . They are responsible for monetary policy , not fiscal policy . Quit screwing around with fiscal policy . That policy is the province of the President and Congress .

.. The Federal Reserve ‘ s most important asset is its credibility . It may well need it sometime to fight inflation or systemic risks . Bernanke earned his spurs . So did Greenspan , as did Voelker . Burns and Miller did not , and inflation ran wild . So do not your institutional credibility . It will take a hell of a long time and a great deal of work and effort to get it back …

.. [h/t — NationalReview]..
.. [link] to Larry Kudlow ‘ s article …

.. if you introduce a little bit of inflation into the system , as Larry argues , you are playing with fire . It does not stay as a little bit of inflation for very long . The markets see the recurrence , and demand compensation for it . Then people see the  effect , and then …. … . While they are at it , dump the Phillips Curve . It never works . It is a pile of Keynesian bull[crap] …

.. If inflation surges , we are going to have some serious problems . Interest rates will have to rise . No doubt about it . Inflation risk is a part of the internest Rate equation . If the Fed is screwing around with interest rates because they want to keep interest rates low , may God in heaven help them . Then you end up with both inflation risk and systemic risk , and the financial markets (and the DemoCraps) in the tank …

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… It is Time to Apply the Magnitsky Bill …

Posted by paulfromwloh on Monday,March 10th,2014

.. if the Russians want normal trade relations , they had better behave like civilized humans ….

.. if not , then crack down on them . Hard .

.. it is time to apply the Magnitsky Bill . It was passed as a part of the passage of normal trade relations with Russia in 2012 . Those relations obviously should be suspended , for the near term . In order to get the attention of Putin and his cronies (the oligarchs) , Magnitsky provisions should be applied to those people who pal around with Putin . All of them that can be identified …

.. Also , if possible , the provisions of the Magnitsky bill should be strengthened to include companies that do business in the United States . Such restrictions are similar to what are provided for in the Helms – Burton Trade with Cuba Act …

.. and if Vladimir Vladimirovich [Putin] keeps up with his antics , reintroduce a 21st – century version of Jackson – Vanik . Jackson – Vanik provided for evaluation of human rights in both Russia and the old Soviet Union . It applied to both . It should still , as a deterrent …

.. [h/t — Wikipedia.org]..

.. [link] to the article ..

.. [h/t — NationalReview]..

.. [link] to the article on the bill …

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… As I put It [the War on Poverty] …

Posted by paulfromwloh on Monday,January 13th,2014

.. is a failure .

.. we have spent countless hundreds of billions of dollars on anti poverty programs , and what have we gotten ?

.. less than nothing …

.. [h/t FoxNews.com]

.. to hear it put ideally , listen to one of Bill O ‘ Reilly ‘ s Talking Points Memos on the subject [link] ..

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… the Constitutional Court

Posted by paulfromwloh on Monday,July 16th,2012

… no , folks , not our U S Supreme Court …

… the German Constitutional Court .

… whatever may happen in Europe will likely start in Germany with their highest court . Why ? a number of their constitutional law professors have challenged the bailouts , as well as the mechanisms that the national governments have been using . and the demand keeps growing . and , they do need Germany , with its deep pockets …

… however , they may not have it . If their court says no , in full , or in part , Germany will effectively be out of the bailout business . I think that this court may well say no , at least in part …

… in Germany , especially , given its recent history (who can forget ,  and no one should) , they need to stick to their rule of law more than anyone , and avoid legal finesse …

… but , the consequences for Germany , Europe , the EU , and for everyone else may be telling ….

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