Is this the money answer to our problems?

Discussion in 'Economy' started by Truthmatters, May 24, 2010.

  1. Truthmatters
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    The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy


    For over a decade, accountant Walter Burien has been trying to rouse the public over what he contends is a massive conspiracy and cover-up, involving trillions of dollars squirreled away in funds maintained at every level of government. His numbers may be disputed, but these funds definitely exist, as evidenced by the Comprehensive Annual Financial Reports (CAFRs) required of every government agency. If they don't represent a concerted government conspiracy, what are they for? And how can they be harnessed more efficiently to help allay the financial crises of state and local governments?
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    GROSS STUPIDITY! UNBELIEVABLE STUPIDITY! INSANE! This dimwit author proposes raiding independent state employee pension funds to pay state bills. The Federal Government did that with Social Security.

    Cities and towns invest money through the state treasurer (among many other ways) and the author thinks they should be accessible for state spending. NO DAMN IT! That is the money of the cities and towns and counties. DAMN STUPIDITY!

    Other Federal agencies always have money left over at the end of the fiscal year. That so called "Money" is appropriated money from the beginning of the fiscal year. Since it usually represents a Federal Deficit, it is money that does not need to be spent. It is not free money.
     
  3. Truthmatters
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    This money cannot be spent, but it can be invested -- and it can be invested not just in conservative federal securities but in equity, or stocks. Rather than turning this hidden gold mine over to Wall Street banks to earn a very meager interest, California could leverage its excess funds itself, turning the money into much-needed low-interest credit for its own use. How? It could do this by owning its own bank.

    Only one state currently does this -- North Dakota. North Dakota is also the only state projected to have a budget surplus by 2011. It has not fallen into the Wall Street debt trap afflicting other states, because it has been able to generate its own credit through its own state-owned Bank of North Dakota (BND).
     
  4. Neubarth
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    Neubarth At the Ballpark July 30th

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    Lie Natters, North Dakota is a conservative Germanic state with a totally different cultural base than most of the rest of the United States. Yes, they are conservative enough and intelligent enough (average IQ of 104) to have their own bank and by following their conservative principles can make it work.

    California is a totally dimwitted state with an average IQ of 94, (50% of the state population needs to be neutered.) and an associated Liberal "Spend ourselves to death." mentality. As all intelligent Conservatives know, Liberalism in finance and stupidity go hand in hand. It would not work in California (until fifty years after all those dolts are neutered.). The State Employees Pension fund would be bankrupt in a matter of minutes if the state of California got its stinking hands on it.
     
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  5. WillowTree
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    WillowTree Diamond Member

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    this should answer any furthur quwstions you may have..


     
  6. Truthmatters
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    You two make a perfect insane couple
     
  7. Middleman
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    Middleman Defender of the month

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    The answer to our economic woes is for more people to listen to, and follow, Dave Ramsey's advise. The government included. Wanton borrowing and debt will eventually bring us down.
     

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