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Year: 2007 (Page 2 of 7)

Nobody Ever Talks About Inflation

I found an interesting article below and it agrees with my observations down in the trenches with the poor people, which includes myself, my daughter and everyone she knows, various other friends, and discussions with my landlady on this topic about her other tenants. (She owns a number of income properties). Money has been getting tighter and tighter for everyone and it’s now at the point where people just can’t make ends meet anymore and they have zero disposable income so there are no vacations, no nothing. People are getting worked to death just like in the 1800’s.

If I were to have the same buying power that I had in 1995, I would need a salary today of at least three times what I was earning plus bonuses. My net worth would need to be around–well I won’t mention the number but around 4 times what it was in order to have kept even with where I was. This George Carlin video:

http://www.youtube.com/watch?v=dy4Tg_uR_Bg

is right on target because salaries and benefits have not kept up with inflation at all. A salary of $100,000 is still considered “quite high” by today’s PERCEPTIONS but in fact a $100,000 salary today is what a school teacher made not too long ago in terms of buying power. What this says to me is that American big business has pulled off a marvelous sleight of hand. Everyone’s salaries have been cut by 70 percent without actually reducing the numbers, and I’ll bet the benefits of this are flowing into somebody’s pocket. Americans today are working far longer hours and far harder for less buying power.

http://www.financialsense.com/fsu/editorials/2007/0416.html

Now who do you suppose engineered this, or is it simply the effect of profligate spending made possible by foreign confidence in the U.S. economy? What happens when that confidence wanes? What happens when Europe unifies its capital markets, as it’s now doing, and becomes a far more attractive place for big investors like China than it is now? What happens when the massive influx of capital to the United States slows down?

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Traumatic Breathalyzer Test

It’s okay to humiliate and traumatize innocent citizens? That’s what a recent statement from attorneys representing the New York Police Department are, in effect, saying. According to attorneys representing NYPD officers, a breathalyzer test for them is “humiliating and traumatic”. If that’s so, then why are citizens of the United States subjected to a procedure that is “humiliating and traumatic”?

http://news.yahoo.com/s/ap/20071018/ap_on_re_us/police_shootings_sobriety_tests

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$146 Million in Unauthorized Travel Expenses

It’s nice to know that our mid-level government employees are traveling in style. The GAO so far has uncovered $146 million in unauthorized or inappropriate air fares in the first half of 2007. The cases involve the breaking of rules such as those requiring federal employees to travel in business-class at $800 and not first-class at $6,000 and so forth, which happened 44,000 times. but the rulebreakers feel they are worth it ‘cuz their work is so important.

http://www.govexec.com/features/0104/0104travel.htm

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Unintended Consequences

It’s interesting to observe that states like Oklahoma and Georgia, that passed laws cracking down on illegal aliens, are noticing a significant drop in tax revenues. Why? Because those people are moving away to other states and taking their tax revenue with them. Another side effect is more houses showing up for sale, also because of illegal aliens moving away. This comes at a rather bad time though because the sub-prime mortgage crisis is already causing distressed houses to come on the market and depress home prices. This is now being aggravated by all the non-distressed homes belonging to illegal aliens that are also coming onto the market.

But in these cases, the system is actually working as the Founders intended. If a state implements foolish laws, people will vote with the feet and that state will get smacked in the pocketbook. It’s working.

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