WyBlog, the best thing about New Jersey since the invention of the 24 hour diner.
The nine most terrifying words in the English language are "I'm from the government and I'm here to help." - Ronald Reagan
CH 2.0 Info Center
The Jersey Report
Labor Union Report
Net Right Nation
The Patriot Post Newsletter
Victor Davis Hanson
J! E! T! S! Jets! Jets! Jets!
NJ.com Caldwell Forum
The Caldwells Patch
The Jersey Tomato Press
Technorati is indexing me again! They had to make a code change to fix the problem with my blog getting stuck in their queue. Kudos to Eric M. and the guys at GetSatisfaction.com where they have "community powered support for Technorati".
Well, they're "sorta, kinda" indexing me anyway. It's on a 24 hour tape delay or something. So I never get picked up by Memeorandum because they pull from Technorati and Technorati has stuff I posted yesterday listed as my latest blog entry. And that's old news to Memeorandum.
"This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. It is being made available in an effort to advance the understanding of environmental, political, human rights, economic, democracy, scientific, social issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit for research and educational purposes."
#VRWC Twitter feed:
March Madness is starting so the papers probably haven't covered this yet, but across the pond in a little corner of Greece called Cyprus the government there did a quite remarkable thing. They stole 10% of everybody's bank accounts.
It seems that socialists all over the world are watching Cyprus, because it is a test case. Essentially, the government there decided to rob their citizens, literally over-night. It's what I call the great Cyprus Bank Robbery.
Yes, robbery. All done up in legal mumbo-jumbo.
Very few things give me nightmares… Yesterday's event in Cyprus was one of them and the media is conspicuously silent. What do you get when you combine worldwide Marxist elitists, bankers and the media? A worldwide depression and a new dark age. The IMF is using Greece as a proving ground for the rest of us. It is a fascist Petri dish. They just implemented an across the board tax on all bank accounts over a holiday with no warning and no recourse. 9.9% if you have over 100,000 Euros in the bank, 6.75% if you have less than that. This is money being seized by the IMF, the European Union and the government of Greece to attempt to cover some of their debt. It is theft and it could have been a lot worse. The IMF had proposed a 40% haircut on all accounts.
Let that sink in for a moment. You wake up and your bank account, your 401(k), your IRA, and your Certificates of Deposit are all reduced by 10%. Oh, did I mention they froze ATMs too? Can't have a bank run on top of this thuggery! It's not your money anymore…
Think it can't happen here? Think again.
According to Tyler Durden at Zero Hedge the U.S. would need a one-time 24% to 26% haircut in order to cover the massive national debt run up by Obama (and Bush). Here's the relevant chart:
Cyprus is the Test Case. The EU's guinea pig. If they get away with it, they'll do it again. And again.
Then Obama will do it too.
I have a friend who's a pension actuary. At a recent conference he attended they discussed the subject of "repurposing" retirement account assets. The thinking (if you can call it that with a straight face) goes something like this. Those assets are pre-tax dollars. Much of it is employer contributions. So it's not really your money anyway. The government can mandate an investment in special (Very Long Term) Treasury Bonds, on the theory that the money will be "safer" there than in the stock market.
Or, the feds could simply decide to collect an "advance" on the tax you'll eventually owe when you take the money out for retirement.
Either way, one day Real Soon you'll be poorer. And with the debt slate wiped clean the Obamunists can go on a spending spree that'll make today's free-for-all look like the very model of austerity.
What? You think they'll behave themselves after finding a way to "solve" the debt crisis?
C'mon. Nobody is that stupid.
|Previous: Your daily dose of AWESOME: the Bacon Shell Taco||Next: The House Ethics Committee unamimously voted to investigate NJ Democrat Rob Andrews|