Gold-good investment or hype.

Mr.KushMan

Well-Known Member
I know the topic has been real estate for the last few pages....

I just invested a grand (CAD) into silver should be getting 51 oz sent to my door next friday. I just would like to hear about some of the recent history and some expert or hobbyist speculation for me.

Peace
 

max420thc

Well-Known Member
U.S. Mortgage Foreclosures Rose in Fourth Quarter (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A


By Kathleen M. Howley


Feb. 19 (Bloomberg) -- A record number of Americans were in danger of losing their homes in the fourth quarter, even as new delinquencies declined, the Mortgage Bankers Association said.
Loans in foreclosure rose to 4.58 percent of all mortgages, while those more than 90 days overdue -- the point at which lenders usually begin the process of seizing a property -- climbed to 5.09 percent, the Washington-based trade group said in a report today.
“We have a hard-core block of unemployed who have been out of jobs for a long time, and that’s keeping the long-term delinquencies high,” Jay Brinkmann, the association’s chief economist, said in an interview. “New entrants to the ranks of the unemployed have been falling, and that’s why we see the early delinquencies dropping.”
Government efforts to prevent foreclosures have been thwarted by the biggest employment contraction since the Great Depression. U.S. companies shed more than 7 million jobs since December 2007. The unemployment rate fell to 9.7 percent in January after hitting a 26-year high of 10.1 percent in October, according to the Bureau of Labor Statistics.
U.S. home prices began declining in 2006 after reaching a peak of almost four times the nation’s median household income, an increase that had stretched the ability of many buyers to meet mortgage payments.
Unable to refinance, the least creditworthy borrowers started defaulting on mortgages as interest rates adjusted higher and their monthly payments ballooned. The rate of subprime-mortgage delinquencies more than doubled in the two years ended last quarter, triggering $1.7 trillion of losses and writedowns for financial companies that invested in mortgage bonds.
New Delinquencies Decline
Today’s MBA report showed payments overdue by 30 days or more for all types of mortgages fell to a seasonally adjusted 9.47 percent in the fourth quarter from 9.64 percent in the prior three months, the first drop since 2007’s first quarter.
The delinquency rate for prime loans fell to 6.73 percent from 6.84 percent, and the share of subprime late payments fell to 25 percent from 26 percent.
“We usually have a spike in fourth-quarter delinquencies because of heating bills and Christmas bills, but this time we had a sizable decrease,” Brinkmann said. “It’s not the end of the crisis, but it looks like a big problem may not be getting much bigger.”
Obama’s Plan
President Barack Obama last year pledged to spend $275 billion to keep as many as 9 million Americans in their homes by refinancing properties that are valued at less than their mortgages and offering incentives to companies that modify terms for delinquent borrowers. The government also is offering a tax credit of as much as $8,000 for homebuyers who complete purchases before July 1.
The administration’s primary anti-foreclosure plan, the Home Affordable Modification Program, or HAMP, resulted in 116,000 permanent loan modifications by the end of January, compared with a goal of as many as 4 million by December 2012, the Treasury Department said in a Feb. 17 report. About 57 percent of permanent modifications were for borrowers coping with unemployment or a reduction in working hours or wages, according to the report.
In addition, 830,438 trial modifications were under way, the Treasury Department said in the report.
HAMP lowers mortgage payments to about one-third of a borrowers’ income by reducing interest, lengthening repayment terms and deferring principal repayments.
Refinancing Program
The government’s Making Home Affordable program has been responsible for refinancing more than 4 million loans in the portfolios of government-run Fannie Mae and Freddie Mac, according to the Treasury report. The refinancings allow some people who owe more on their homes than the properties are worth to lower their interest rates.
About one in every five U.S. homeowners with a mortgage is in so-called negative equity, according to a Feb. 10 report from Zillow.com, a Seattle-based real estate data provider.
To contact the reporter on this story: Kathleen M. Howley in Boston at [email protected].
Last Updated: February 19, 2010 11:59 EST
 

max420thc

Well-Known Member
silver according to its traditional relationship to golds value is EXTREMELY CHEAP right now. the supply of silver is very low. it like gold has been used as a medium of exchange for thousands of years.
silver right now is in VERY short supply . silver has never been confiscated by the US government gold has.silver if the economy recovers (WONT HAPPEN) has alot of industrial use's ,'
always purchase your silver or gold in coin form . there are tax reasons for this and also the government has never confiscated coins. just bullion.
as the US government prints more and more money and the US dollar declines from this printing the demand will go higher for gold and silver..even copper.all commodity's .
its not just the US dollar being destroyed it is most currencys around the world,the euro ,pound ,yen
it is logical that every time central banks double and triple the money supply the current money supply will be devalued as more money is in the market making it less valuable.
the less valuable it is the more it takes of it to buy COMMODITY'S . gold sugar foods .all will do well in the future .
real estate is going to get beat to death. it still has a long way to fall.the job market still is shedding mass amounts of jobs.
people are losing their unemployment and are falling of the unemployment roles being counted as employed because they are not drawing a unemployment check.
lazy fat stupid uninformed americans.. a lot of them have plenty of time to sit at home and think about why they cant find a job.
 

max420thc

Well-Known Member
Ford’s Jobless Recovery Means No Hiring as Plants Are Retooled Share Business ExchangeTwitterFacebook| Email | Print | A A A


By Keith Naughton




Feb. 22 (Bloomberg) -- Ford Motor Co.’s $1.6 billion U.S. investment plan will retool plants to build fuel-efficient autos to compete with Toyota Motor Corp. models. Hiring workers paid on par with Toyota’s will have to wait.
After cutting 47 percent of its North American workforce since 2006, Ford isn’t ready to resume adding employees even as it upgrades factories and grabs a larger share of U.S. sales, Chief Financial Officer Lewis Booth said in an interview. One analyst estimates Ford may not hire for two years.
Ford’s jobless recovery shows the constraints on the only U.S. automaker to avoid bankruptcy in 2009. With fewer employees taking buyouts and auto demand about a third less than in 2007, Ford doesn’t have openings for a new class of lower-paid union workers who would help cut labor costs.
“It’s probably just a little premature to talk about hiring,” Booth said. “The first thing to do is to take our existing employees and make sure they’re fully occupied. That’s very important for us and very important for them.”
Toyota, the world’s largest automaker, was the benchmark for labor costs when General Motors Co., Chrysler Group LLC and Dearborn, Michigan-based Ford reached their current accords in 2007. The U.S. companies won the right to give fewer benefits to new hires and pay them about $14 an hour, half what current employees make.
Compensation for U.S. workers including wages and benefits averages about $55 an hour at Ford, compared with $50 at Toyota, according to Booth.
First in Line
Because laid-off union employees are first in line for any vacancies before new, low-wage hires can be made, Ford can’t yet take advantage of low-wage hiring. Ford said it has about 600 hourly employees still on indefinite layoff from a U.S. union workforce of about 41,000. On Feb. 16, Ford said it will cut a shift of 900 workers from its Michigan Mustang factory in July.
Ford probably won’t begin hiring for two years, which means it wouldn’t match Toyota’s labor rates until 2014 or 2015, said Sean McAlinden, chief economist at the Center for Automotive Research in Ann Arbor, Michigan.
“The market sucks and it needs to recover by 30 percent to 40 percent before Ford can hire,” McAlinden said in an e-mail. “They have too many hourly workers now.”
Ford’s average hourly labor cost would fall to $50 once new hires make up 20 percent of the workforce, Booth said on a Jan. 28 conference call. “But we haven’t got near-term hiring plans that will get us up to that,” he said.
Cost Disadvantage
By 2012, Ford will be at a labor-cost disadvantage to Detroit-based GM and Chrysler because its UAW members voted in November to reject concessions freezing new hires’ wages until 2015, McAlinden said.
GM and Chrysler, based in Auburn Hills, Michigan, won those givebacks as the automakers slid toward bankruptcy last year, and will reach U.S. labor-cost parity with Toyota and Honda Motor Co. by 2012, he said.
“Investors should be careful not to count on labor cost savings in North America from Ford,” said Brian Johnson, a Barclays Capital analyst in Chicago. “To the extent that they should look for a rebound in earnings, it’s going to come from a growing market and a fine new product line.”
Johnson has a neutral rating on the shares, which surged more than fourfold last year. Ford fell 9 cents to $11.29 on Feb. 19 in New York Stock Exchange composite trading, leaving its gain for the year at 13 percent.
Shrinking Expenses
The lack of a tailwind from low-wage hires underscores the urgency for Chief Executive Officer Alan Mulally to keep shrinking costs and sell more-profitable autos after reporting net income of $2.7 billion in 2009 to end Ford’s streak of three annual losses.
Ford is investing $1.15 billion to retool factories in Michigan, Kentucky and Illinois to make more fuel-efficient autos this year, along with spending $450 million to build hybrid models in Michigan starting in 2012. Capital spending will rise by $1 billion this year, Booth said in the interview.
Factory upgrades, a 25 percent jump in U.S. sales in January and Ford’s first annual U.S. market-share gain since 1995 haven’t brought an end to the company’s retrenchment, with pullbacks such as the shift reduction at the Mustang plant. Ford said employees are being offered transfers to factories in Wayne, Michigan, and Chicago.
“We’re going to redeploy almost all the workers,” Executive Chairman Bill Ford told reporters on Feb. 16.
Buyout Offers
Ford’s relative prosperity compared with GM and Chrysler has shrunk the acceptance rates for buyouts, McAlinden said.
About 300 workers, or fewer than 1 percent of Ford’s UAW employees, accepted a buyout last month. About 6,800 hourly workers accepted buyouts in 2008, roughly 13 percent of a U.S. workforce that numbered 54,000 at the start of that year.
Workers are reluctant to leave as Ford’s prospects improve, according to Mark Truby, a spokesman. Auto researcher Edmunds.com has predicted that Ford may vault past Toyota and reclaim the No. 2 spot in U.S. sales this year as the Japanese company’s recalls chase off some buyers.
Booth said Ford won’t be in a position to hire until the U.S. auto market rebounds from 2009’s 10.4 million vehicle sales, the lowest since 1982. Ford predicts U.S. car and light- truck sales will range from 11.3 million to 12.3 million this year. The annual average from 2000 to 2007 was 16.8 million.
“The most important thing is to see the economy grow,” Booth said. “It’s important to see that happen and that we see it is sustainable. That will get our employees back to work.”
To contact the reporter on this story: Keith Naughton in Southfield, Michigan, at [email protected].
 

max420thc

Well-Known Member
watch this idiot bankrupt the health insurance industry .if he cant get what he wants past he will have his regulators run them out of business. what a piece of shit this president is.
Obama to Urge Oversight of Insurers’ Rate Increases






By DAVID M. HERSZENHORN and ROBERT PEAR
Published: February 21, 2010
WASHINGTON — President Obama will propose on Monday giving the federal government new power to block excessive rate increases by health insurance companies, as he rolls out comprehensive legislation to revamp the nation’s health care system, White House officials said Sunday.
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Frederick Breedon/Associated Press
Gov. Phil Bredesen of Tennessee says governors should be part of the health discussion.


Health Care Conversations

Share your thoughts about the health care debate.
Top Discussions: The Public Option | Medicare and the Elderly | The Senate Bill

Living Story

Health Care Reform

Recent developments on the struggle over health care with background, analysis, timelines and earlier events from NYTimes.com and Google.



Related

In California, Exhibit A in Debate on Insurance (February 16, 2010)

Up Next! On Live TV! A Battle Over ... Health Care? (February 21, 2010)

With the Senate Set to Vote on Jobs Bill, Governors Say They Still Need Assistance (February 22, 2010)




The president’s legislation aims to bridge differences between the bills adopted by the House and Senate late last year, and to frame his debate with Republicans over health policy at a televised meeting on Thursday.
By focusing on the effort to tighten regulation of insurance costs, a new element not included in either the House or Senate bills, Mr. Obama is seizing on outrage over recent premium increases of up to 39 percent announced by Anthem Blue Cross of California and moving to portray the Democrats’ health overhaul as a way to protect Americans from profiteering insurers.
Congressional Republicans have long denounced the Democrats’ legislation as a “government takeover” of health care. And while they are likely to resist any expansion of federal authority over existing state regulators, they will face a tough balancing act at the meeting with the president to avoid appearing as if they are willing to allow steep premium increases like those by Anthem.
Republican leaders had not formally accepted the president’s invitation to the meeting. But the Senate Republican leader, Mitch McConnell of Kentucky, said on Sunday that he would attend. “I intend to be there, and my members will be there and ready to participate,” Mr. McConnell said on Fox News.
The president’s new provision also seemed to offer Republicans an opening for a new line of criticism — that Mr. Obama and Democrats are anticipating the possibility of hefty price increases for health insurance even after their big legislation is adopted.
Mr. McConnell said the president, in proposing a new version of the Democrats’ legislation, seemed to prejudging the outcome of the session. “If they are going to lay out the plan they want to pass four days in advance,” he said on Fox, “What are we discussing on Thursday?”
The White House has held details of Mr. Obama’s bill extremely tight, leaving even top Democrats in Congress anxiously awaiting the text to be released Monday. But administration officials said it would incorporate legislation proposed last week by Senator Dianne Feinstein, Democrat of California, in response to the Anthem increases. Officials said it would “help make sure that people are not unfairly subject to arbitrary premium hikes.”
Anthem, California’s largest for-profit insurer, has announced premium increases for nearly 700,000 customers, citing the soaring costs of medical care and the effects of a weak economy in which many younger and healthier people are dropping insurance. But the increases, far outpacing the rate of medical inflation, led to outrage among officials in Sacramento and Washington.
The Obama administration has sought to portray the situation as a warning of what could happen to many more Americans if Congress does not act to overhaul the health system.
The president’s bill would grant the federal health and human services secretary new authority to review, and to block, premium increases by private insurers, potentially superseding state insurance regulators. The bill would create a new Health Insurance Rate Authority, made up of health industry experts that would issue an annual report setting the parameters for reasonable rate increases based on conditions in the market.
Officials said they envisioned the provision taking effect immediately after the health care bill is signed into law.
The legislation would call on the secretary of health and human services to work with state regulators to develop an annual review of rate increases, and if increases are deemed “unjustified” the secretary or the state could block the increase, order the insurer to change it, or even issue a rebate to beneficiaries.
The new rate board would be composed of seven members, including consumer representatives, an insurance industry representative, a physician and other experts like health economists and actuaries, the White House said. The board’s annual report would offer guidance to the public and states on whether rate increases should be approved.
But the focus on rate increases is also spotlighting questions about whether the Democrats’ plans do enough to control rising health costs. Anthem and other insurers say they do not.
 

max420thc

Well-Known Member
Obama to Urge Oversight of Insurers’ Rate Increases






Published: February 21, 2010
[SIZE=-1](Page 2 of 2)[/SIZE]
And it is unclear if the new powers or the rate board would have much long-term impact. The Democrats’ legislation ultimately seeks to sharply curtail the existing individual insurance market in which companies like Anthem Blue Cross now sell their policies. Instead, such policies would be heavily regulated by the federal government and sold through new insurance exchanges, where consumers could compare prices and benefits packages and choose policies that best fit their needs.
Skip to next paragraph
Health Care Conversations

Share your thoughts about the health care debate.
Top Discussions: The Public Option | Medicare and the Elderly | The Senate Bill

Living Story

Health Care Reform

Recent developments on the struggle over health care with background, analysis, timelines and earlier events from NYTimes.com and Google.



Related

In California, Exhibit A in Debate on Insurance (February 16, 2010)

Up Next! On Live TV! A Battle Over ... Health Care? (February 21, 2010)

With the Senate Set to Vote on Jobs Bill, Governors Say They Still Need Assistance (February 22, 2010)




The president’s bill, like the measures adopted by the House and Senate, is expected to require most Americans to obtain insurance, and would provide new federal subsidies to help moderate-income people afford to buy private coverage.
And though Americans have heard officials in both parties talk for nearly a year about “President Obama’s health care plan,” the legislation unveiled on Monday will actually be the first comprehensive proposal put forward by the White House.
Senator Feinstein, in an interview, pointed to the $12.2 billion in profits reaped by the five biggest private insurers in 2009. “When you look at the profits in ’09, up 56 percent over the year before,” she said, “you begin to understand that something is going on that is not in the interests of the American people.”
Ms. Feinstein said that only 25 states allowed their insurance commissioners to regulate rates and that California was not one of them. “For the life of me, I am not sure why not,” she said. “The time has come for the secretary of health and human services to step into this.”
Mr. Obama has portrayed Thursday’s meeting as a chance to break the partisan gridlock that has stalled any progress on health care this year. He has called on the Republicans to come forward with proposals of their own.
But absent some dramatic turnabout by Republicans, Democratic leaders will have only one other possible path — approving changes to the Senate bill by attaching them to an expedited budget measure, precluding a Republican filibuster in the Senate. Even many Democratic lawmakers are skeptical that the complex health care legislation can be moved through using that parliamentary maneuver.
And many have been reluctant to say they would support a compromise measure without first knowing what was in it.
Leaders of the National Governors Association meeting in Washington on Sunday expressed frustration that they had been largely shut out of negotiations over the future of the health care system, even though they would be responsible for carrying out many of the changes envisioned by federal officials. They said they wanted more of a voice in shaping those changes.
“It’s important that governors be at the table and bring our perspective to the debate,” said Gov. Jim Douglas of Vermont, a Republican who is chairman of the National Governors Association.
Mr. Douglas said governors were deeply involved in discussions with Congress and Mr. Obama on the economic stimulus law adopted early last year. But he said, “We have not had that kind of relationship in the current debate” on health care.
Gov. Phil Bredesen of Tennessee, a Democrat, said: “Governors have something unique to contribute. Washington, D.C., is full of think tanks, theoreticians and advocacy groups. Governors are the ones whose feet are on the ground. We have a sense of what will work and what won’t work. Our perspective is not the only one. But we can bring some practicality to this discussion.”
Mr. Douglas, Mr. Bredesen and two other governors — Joe Manchin III of West Virginia, a Democrat, and Michael Rounds of South Dakota, a Republican — spoke at a news conference at the winter meeting of the governors association. They and other governors plan to convey their concerns to Mr. Obama at a White House meeting on Monday.
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Sheryl Gay Stolberg contributed reporting.
 

max420thc

Well-Known Member
The euro will face bigger tests than Greece

By George Soros
Published: February 21 2010 18:40 | Last updated: February 21 2010 18:46

Otmar Issing, one of the fathers of the euro, correctly states the principle on which the single currency was founded. As he wrote in the FT last week, the euro was meant to be a monetary union but not a political one. Participating states established a common central bank but refused to surrender the right to tax their citizens to a common authority. This principle was enshrined in the Maastricht treaty and has since been rigorously interpreted by the German constitutional court. The euro was a unique and unusual construction whose viability is now being tested.
The construction is patently flawed. A fully fledged currency requires both a central bank and a Treasury. The Treasury need not be used to tax citizens on an everyday basis but it needs to be available in times of crisis. When the financial system is in danger of collapsing, the central bank can provide liquidity, but only a Treasury can deal with problems of solvency. This is a well-known fact that should have been clear to everyone involved in the creation of the euro. Mr Issing admits that he was among those who believed that “starting monetary union without having established a political union was putting the cart before the horse”.
EDITOR’S CHOICE

Tommaso Padoa-Schioppa: Europe cannot leave Athens on its own - Feb-18


Otmar Issing: Europe must not rescue Greece - Feb-15


Brussels blog: Spain, spooks and anti-euro conspirators - Feb-21


Samuel Brittan: Greek light on an over-hasty project - Feb-18


In depth: Greece debt crisis - Feb-16




The European Union was brought into existence by putting the cart before the horse: setting limited but politically attainable targets and timetables, knowing full well that they would not be sufficient and require further steps in due course. But for various reasons the process gradually ground to a halt. The EU is now largely frozen in its present shape.
The same applies to the euro. The crash of 2008 revealed the flaw in its construction when members had to rescue their banking systems independently. The Greek debt crisis brought matters to a climax. If member countries cannot take the next steps forward, the euro may fall apart.
The original construction of the euro postulated that members would abide by the limits set by Maastricht. But previous Greek governments egregiously violated those limits. The government of George Papandreou, elected last October with a mandate to clean house, revealed that the budget deficit reached 12.7 per cent in 2009, shocking both the European authorities and the markets.
The European authorities accepted a plan that would reduce the deficit gradually with a first instalment of 4 per cent, but markets were not reassured. The risk premium on Greek government bonds continues to hover around 3 per cent, depriving Greece of much of the benefit of euro membership. If this continues, there is a real danger that Greece may not be able to extricate itself from its predicament whatever it does. Further budget cuts would further depress economic activity, reducing tax revenues and worsening the debt-to-GNP ratio. Given that danger, the risk premium will not revert to its previous level in the absence of outside assistance.
The situation is aggravated by the market in credit default swaps, which is biased in favour of those who speculate on failure. Being long CDS, the risk automatically declines if they are wrong. This is the opposite of selling short stocks, where being wrong the risk automatically increases. Speculation in CDS may drive the risk premium higher.
Recognising the need, the last Ecofin meeting of EU finance ministers for the first time committed itself “to safeguard financial stability in the euro area as a whole”. But they have not yet found a mechanism for doing it because the present institutional arrangements do not provide one – although Article 123 of the Lisbon treaty establishes a legal basis for it. The most effective solution would be to issue jointly and severally guaranteed eurobonds to refinance, say, 75 per cent of the maturing debt as long as Greece meets its targets, leaving Athens to finance the rest of its needs as best it can. This would significantly reduce the cost of financing and it would be the equivalent of the International Monetary Fund disbursing conditional loans in tranches.
But this is politically impossible at present because Germany is adamantly opposed to serving as the deep pocket for its profligate partners. Therefore makeshift arrangements will have to be found.
The Papandreou government is determined to correct the abuses of the past and it enjoys remarkable public support. There have been mass protests and resistance from the old guard of the governing party, but the public seems ready to accept austerity as long as it sees progress in correcting budgetary abuses – and there are plenty of abuses to allow progress.
So makeshift assistance should be enough for Greece, but that leaves Spain, Italy, Portugal and Ireland. Together they constitute too large a portion of euroland to be helped in this way. The survival of Greece would still leave the future of the euro in question. Even if it handles the current crisis, what about the next one? It is clear what is needed: more intrusive monitoring and institutional arrangements for conditional assistance. A well-organised eurobond market would be desirable. The question is whether the political will for these steps can be generated.
The writer is chairman of Soros Fund Management and author of the Soros Lectures, published by PublicAffairs this month
 

max420thc

Well-Known Member
Toyota: Dems 'not industry friendly'



By JAKE SHERMAN | 2/21/10 6:02 PM EST

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Upwards of 8 million cars have been recalled in the U.S. and worldwide, amid reports of Toyota's vehicles accelerating rapidly. Photo: AP Digg/Buzz It Up



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POLITICO 44




Internal Toyota documents derided the Obama administration and Democratic Congress as “activist” and “not industry friendly," a revelation that comes days before the giant automaker's top executives testify on Capitol Hill amid a giant recall.

According to a presentation obtained under subpoena by the House Oversight and Government Relations committee, Toyota referred to the “changing political environment” as one of its main challenges and anticipated a "more challenging regulatory" environment under the Obama administration's purview.

This document, in addition to piles of other records, will be front and center this week as the Japanese automaker girds to face lawmakers hungry for answers about a recall that has the company teetering.

Upwards of 8 million cars have been recalled in the U.S. and worldwide, amid reports of Toyota's vehicles accelerating rapidly. The problems have turned political, as the company has shuttered some American factories, potentially resulting in layoffs.

The oversight committee, which is led by Democrat Ed Towns of New York and Republican Darrell Issa of California, will seek to discover if Toyota was forthright in disclosing problems with rapid acceleration – and if the government was responsible and quick in investigating such complaints.

Toyota has launched an image rehabilitation campaign on Capitol Hill, and its top lobbyist has sent emails to Congressional aides in an attempt to shape its image amid this crisis.

Committee aides say the presentation, which was obtained by POLITICO, gives the clearest view into the minds of Toyota executives.

Aides believe the presentation was an explanatory slideshow prepared to explain the inner-workings of Toyota’s Washington lobbying operations. It includes a responsibility flow chart, in addition to resources the office calls upon, including The Brookings Institution and the Chamber of Commerce.

The slideshow is titled “Toyota Washington, DC” and the cover sheet is labeled “Yoshi Inaba” – the president of Toyota North America, who is slated to testify.

It is a peek into how Toyota executives view the American political environment.

The “Activist Administration & Congress – increasing laws & regulations” is listed as one of “Toyota Challenges,” as is “Massive government support for Detroit automakers.”

The July 2009 presentation also says the Department of Transportation and National Highway Transportation Safety Administration “under Obama administration” is “not industry friendly,” and anticipates a “more challenging regulatory and enforcement environment.”

It says the NHTSA “new team has less understanding of engineering issues and are primarily focused on legal issues.”

“While the administration may have changed, the bureaucracy itself has not and we must ensure that government regulators give every possible consumer concern its due diligence,” said Republican Oversight spokesman Kurt Bardella.



Read more: http://www.politico.com/news/stories/0210/33248.html#ixzz0gGYWGHWh
 

CrackerJax

New Member
Obama isn't NON UNION industry friendly.

In other words...Obama can't stomach competition in the marketplace.

He's a loser. I am sure of it now. I used to give him the benefit of the doubt...but no more.
 

max420thc

Well-Known Member
look at this arrogance ..obama just thinks hes the shiznit.
Obama Tells McCain ‘Election’s Over’ at Health Summit (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A


By Kristin Jensen and Catherine Dodge





Feb. 25 (Bloomberg) -- Barack Obama repeatedly reminded Republicans that he’s the president as he pushed them to come up with ways to work together on legislation overhauling the U.S. health-care system at a bipartisan summit today.
Republicans from Virginia Representative Eric Cantor to Tennessee Senator Lamar Alexander said they’d be willing to find common ground as long as Obama abandons his almost $1 trillion plan to cover more than 30 million uninsured Americans. Senator John McCain, who lost to Obama in the 2008 election, used his time to detail “unsavory” deals in the Democratic legislation.
“We’re not campaigning anymore,” Obama told McCain, an Arizona Republican, when he finished. “The election’s over.”
McCain replied, “I’m reminded of that every day.”
Obama is using the summit to try to break an impasse that has jeopardized one of his top domestic priorities. Republicans say the plan has been rejected by both his party and the public. House Republican Leader John Boehner of Ohio assigned lawmakers to “fact-check misstatements” from Democrats at the meeting.
“I’d like to make sure that this discussion is actually a discussion and not just us trading talking points,” Obama said as the forum began at Blair House, across the street from the White House. “I hope this isn’t political theater, where we’re just playing to the cameras and criticizing each other.”
Company Stakes
At stake is a plan that would give insurers such as Indianapolis-based WellPoint Inc. and drugmakers including New York-based Pfizer Inc. millions of new customers while requiring them to make contributions to the biggest U.S. health-care overhaul in 45 years. Insurers agreed to new rules; drugmakers would help Medicare patients afford their medicines.
Obama tried to find areas of accord during the daylong session, saying Republicans and Democrats agree that costs are out of control. Both parties want to prohibit insurers from dropping people who have bought coverage, and they want to extend the coverage of dependent children to a higher age.
Still, much of the discussion focused on what some lawmakers called a “philosophical” disagreement between the two parties over how much government regulation should be exerted in medical care.
“We don’t want to sit in Washington and mandate all of these things,” said Representative Paul Ryan, a Wisconsin Republican.
Interstate Insurance
Among the issues the group tackled was allowing insurance to be sold across state lines. Representative Marsha Blackburn, a Tennessee Republican, said the Democrats’ plan to allow states to form compacts only creates bureaucracy. She said Americans should be allowed to buy coverage from anywhere they like.
Obama said there may be a way to bridge the differences once new health-insurance exchanges are set up and national plans might be allowed. “We want competition,” he said. “We just want minimum standards.”
Lawmakers cited the case of a WellPoint unit increasing rates in California to illustrate the need for more controls on the insurance industry.
The insurer sought the rate rise to boost profits and cover costs ballooned by executive pay and corporate retreats, Representative Henry Waxman, a California Democrat, said at a hearing yesterday, citing internal company documents.
WellPoint Chief Executive Officer Angela Braly said the proposed increase was driven by surging costs and a recession that has forced healthy people to drop coverage.
Reconciliation
Barring a breakthrough with Republicans, Democrats may move along party lines to pass legislation with a budget process known as reconciliation, which requires only a simple majority vote. That idea also drew fire from Republicans.
“We’ll have to renounce jamming it through in a partisan way,” said Alexander. “If we don’t, then the rest of what we do today will not be relevant.”
Senate Majority Leader Harry Reid of Nevada said Republicans have used reconciliation on major issues such as tax cuts and a welfare-system overhaul.
Obama’s plan, released Feb. 22, relies mostly on the Senate bill. With reconciliation, Senate Democrats could pass what lawmakers call a “fix” to their measure with 51 votes. The House would also pass the fix, along with the original Senate bill. Democrats control 59 votes in the 100-member Senate.
Premium Costs
When Alexander said the legislation would raise the cost of health-care premiums, citing numbers from the nonpartisan Congressional Budget Office, Obama took exception.
The president said premiums would go down for current plans, yet the changes in the bill might encourage people to buy better policies that would cost more than what they have but less than they were before. Alexander told him he believed Obama was wrong and would provide him with details.
“I’m pretty certain I’m not wrong,” Obama said. “I promise we’ll get this settled before the day’s out.”
Senator Tom Coburn, an Oklahoma Republican who’s also a medical doctor, raised the issue at the top of the list for many lawmakers in his party: medical malpractice. Coburn said hundreds of billions of dollars are wasted each year because doctors order unnecessary tests for fear of lawsuits.
“We are risk-averse to the tort system and the extortion system that’s out there today in health care,’ Coburn said.
He also raised the possibility of having ‘‘undercover patients” to root out fraud.
‘I’m the President’
Obama frequently used his role as moderator to respond to Republican talking points, allowing him to control the discussions. At one point, Senate Minority Leader Mitch McConnell objected that Democrats had spoken for 52 minutes, while Republicans had only talked for 24.
Republicans later sent an e-mail saying Democratic lawmakers and Obama had talked for 108 minutes and Republicans for 56.
“Let’s try to have as much balance as we can,” McConnell, a Kentucky Republican, said.
Obama said he hadn’t counted his own time for the Democrats because “I’m the president.”
To contact the reporters on this story: Kristin Jensen in Washington at [email protected]; Edwin Chen in Washington at 1844 or [email protected]
Last Updated: February 25, 2010 16:10 EST
 

Big P

Well-Known Member
ok guys if you bought gold at these hi prices your about to lose your shit:


China says committed to U.S. debt, wary on gold

6:51am EST
By Langi Chiang and Alan Wheatley
BEIJING (Reuters) - China, the world's biggest holder of foreign exchange reserves, renewed its commitment to the U.S. Treasury market on Tuesday but said it would be wary of substantially boosting its gold holdings.

The country's chief currency regulator said China would attract more capital inflows this year, partly reflecting expectations of a stronger yuan, but he left the market none the wiser as to when Beijing might let the currency resume its rise.
"The U.S. Treasury market is the world's largest government bond market. Our foreign exchange reserves are huge, so you can imagine that the U.S. Treasury market is an important one to us," Yi Gang, head of the State Administration of Foreign Exchange (SAFE), told a news conference.

The exact composition of China's $2.4 trillion of reserves, the world's largest, is a state secret and the subject of intense scrutiny by global investors aware that, with such large sums at stake, even marginal portfolio shifts have the potential to move markets. Global investors are equally attuned to any clues about the yuan, given its role in China's trade with the rest of the world and the potential spill-over effect a stronger yuan would have on other currencies in Asia.

Speaking during the annual session of parliament, Yi expressed the hope that China's presence in the U.S. Treasury market would not become a political football. China, he stressed, was not in the game of short-term currency speculation.

"It is market investment behavior, and I don't want it to be politicized," he said. "We are a responsible investor, and we can surely achieve a win-win result in the process of investing."

Yi dampened hopes of gold bulls that China might be itching to add to the 1,054 tonnes of the metal in its reserves.

On a 30-year horizon gold was not a great investment, he said, and China would simply drive up prices if it piled into the market.

"It is, in fact, impossible for gold to become a major investment channel for China's foreign exchange reserves. I have 1,000 tonnes now, and even if I doubled that holding, according to current prices, that would be about $30 billion," Yi said.

The bullion price fell about $3 an ounce on Tuesday morning to around $1,121, but that reflected unwinding of speculative bets linked to Greece's debt woes rather than disappointment over Yi's remarks.

"The market discounts the China story. It's an old story. I don't think China will buy gold in the open market. They will buy gold from their own mines," said a dealer in Hong Kong.
NOT ALL CHINA'S EGGS IN ONE BASKET

Bankers assume two-thirds of China's reserves are invested in dollar assets, but Yi said SAFE had appropriately spread its holdings, with the euro and yen as well as some emerging market currencies in China's portfolio.

"The foreign exchange reserves are mainly invested in bonds issued by governments and government agencies of the developed and developing countries with high credit ratings, assets issued by companies and international organizations, funds and so on," he said in a prepared statement before meeting reporters.

The official cast no light on the prospects for the yuan, which China has effectively re-pegged at around 6.83 yuan per dollar since mid-2008 to help its exporters weather the global credit crunch. Beijing dropped the yuan's dollar peg in 2005 and allowed it to climb about a fifth in the run-up to the crisis.

Yi repeated the mantra that China would keep the currency basically steady and sidestepped a question about Delphic remarks by central bank governor Zhou Xiaochuan.
Zhou broke new ground on Saturday by stating that China would sooner or later exit the "special yuan policy" adopted to counter the financial crisis.
In the absence of fresh guidance, the yuan marked time in the offshore non-deliverable forwards (NDFs) market.

The one-year dollar/yuan NDF stood at 6.6400 in mid-morning, little changed from Monday's late levels and implying yuan appreciation of about 2.8 percent over the next year.

But Yi said expectations of a stronger yuan would intensify this year, attracting "cross-border arbitrage" funds, because of the country's relatively high interest rates.
Proceeds from exports would also rise as global recovery generated demand for Chinese goods.

"With foreign direct investment expected to increase steadily, China will be facing greater pressures from the rising amount of foreign exchange inflows," he said.
(Additional reporting by Zhou Xin; Editing by Ken Wills and Tomasz Janowski)
 

CrackerJax

New Member
China is playing a long term game and has quite an advantage on us. They wish to hamstring us economically (they are succeeding) to ensure their regional power in Asia.

Then they will take it global.

China will be the next superpower to stand ALONE. It is happening....slowly but surely, the pieces are being setup and played....and played well. By them, not us.
 

max420thc

Well-Known Member
the IMF just sold a bunch of gold and it wasnt on the market very long..matter of fact china bought more of it. the last release of gold not long ago india bought 200 tons of it.
the worlds gold mines are playing out . south african gold mines for example.
the US government has expanded its debt at unprecedented rates . the federal reserve is monatizing the debt . the federal reserve in the last year has purchased at least 5 trillion dollars of bad bank debt the tax payers get to pay back with the bail outs off budget military spending . baby boomers retiring medicare going bankrupt .
what you are going to see is the collapse of the dollar and when it does if your holding paper currency is when you are going to screwed deluxe .
these are just SOME of the reasons why you are going to see ALL commodity's go up. not just gold but silver oil sugar . food grains ect.
wholesale prices have increased ALOT..it was headed on a path to 18% a month or two ago. the baltic dry index is at 3200. not very good in other words.
 

max420thc

Well-Known Member
the thing about gold is you can trade it just like a stock short it everything just like a stock.im a terrible timer so i dont actively trade all the time.but a savy trader can trade gold and make as much as any stock.
im in it for the long haul because the fundamentals of gold are there to preform well over the course of several years..the dollars you trade in or may hold on to will not fare so well in the upcoming years.
 

CrackerJax

New Member
That is only true right now. The stock market pummels gold over the long run.

This sort of talk always happens when gold spikes.
 
well after many pages of all sorts of speculation hre it is from a geologist stand point, gold is one of the most abundant metals to be found directly on the earths surface, and there are no projected shortfalls from market demand to be found anytime in our lifetimes as it looks now. Is gold good to invest in now hell no, is it great a great time to go find some nuggets in the local streams and rivers and sell them hell yeah. the reallity is if the worlds economical systems go to hell in a bucket, then all the gold you've got will still get you nothing some one has to be willing to trade your collectables with you and most likely your going to have a real hard sell to get any of your supposed inflation out of it. Lets face it its an industrial metal first and an elegance enhancement for the masses. Fortunately all the sheep still haven't reallized it, and its a great time to be a prospector; used to grow the green gold for a living but now that that markets flooded I'll harvest the yellow gold and cash in on the fears of others in a big way :clap:.
 
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