BaseFunding

James asked:


America has an economy larger than the next four countries combined encompassing nearly a quarter of world GDP. While the population growth of the world is slowing and in some places declining, America is growing and will continue to (possibly at a faster rate as the baby boomers retire due to a lack of working age people to fill labor demand and a need to bring in immigrants to fill those jobs) because it relies on immigration for its growth rather than births and it has a massive country with a low population density and plenty of room to expand (Some estimates place the U.S population at a billion by 2100).

It has the strongest military in the world by far and is impossible to invade due to its overwhelming naval power and the fact that it is seperated from the rest of the world by two massive oceans. Because it cannot be invaded (and suffer damage to its civilian population and infrastructure) the U.S actually becomes stronger through war because war creates urgent demand for military research and the results of that research generally has commercial uses.

An interesting phenomenon has been occurring ever since the U.S became the most powerful country in the world around 1900. The number of nations in the world more than tripled in the 100 years between then and 2000. I believe this is because the U.S fears the formation of empires capable of matching U.S naval power (Thus capable of invading America), which explains its support for self determination and its frequent international interventions. As nations fragment the comparative power of the U.S rises and the U.S ability to intervene internationally increases further. I see this eventually leading to a world to fragmented to oppose the U.S.

Read the below before posting if planning to use an emerging superpower overtaking the U.S argument

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This leaves only emerging powers as challenges to U.S power. The E.U, China and India are the most commonly stated examples of “superpowers” on track to take U.S supremacy. I think its for the most part media hype. The E.U is a supranational body which is composed of nations with very different languages, histories, cultures and interests, it has no army, the people of many E.U nations are hostile to it and growing more so and to finish it all off, Europes overall population is falling.

China has a specialized economy based on export because its population is to poor to buy its own manufactures, this makes it extremely vunerable to fluctuations in the world market. If the world enters recession it hits China the hardest, if the price of oil goes up so does the cost of China’s goods and China is in an export business with plenty of competition. Mexico is wealthier than China but its closer to the U.S, meaning if China’s workers wages increase just a little foreign competition’ll wipe out its economy. China has avoided that scenario thus far and grown rapidly because rather than grow from increasing wages and internal consumption, its grown from bringing people from its impovershed interior to the coast. The problem with this is that China will eventually hit the wall. Lastly China’s centralized bank uses subsidized credit to keep inneffiecient businesses alive so as to keep their workers employed and happy with the government. The problem with that is many of China’s businesses can’t pay back those loans and its been estimated as much as 25% China’s economy is bad loans.

India I can see getting to be strong but I can’t see it being a superpower because its population is getting way to big and theres a point where it becomes a burden (High food prices, lack of drinking water, massive gov’t welfare programs). It also is very internally divided with much power being based in its individual provinces because of its many different language and ethnic groups.

What do you think ?
China has to buy U.S debt to keep the dollar high so their goods are cheaper. And U.S colleges graduates are amongst the best in the world with the best tools in the world available to them.
Huh america became in the worlds superpower in 1900 last time i checked britains empire was at its height. America didnt become a superpower until 1950

America was a superpower before 1950 it simply kept to itself up until that point. As early as the 1870’s the U.S surpassed the U.K. It surpassed the empire just before WW1.

China economy is already steadly growing and they are your personal lender they could collapse your economy at any time with how many bonds they own in your country.

Did you read my above post ? China’s growth is unsustainable and China can’t drop its bonds without destroying its economy.

Americas century is nearly over you cant even reform your healthcare without nearly bankrupting yourselfs stop been so single minded and learn more about the world for your self instead of listening to fox/cnn propoganda machines.

I didn’t get this from the media, I came to this conclusion on my own. Funding healthcare’d be easy its just a fiercly debated topic

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Steve Selengut asked:


As an investor, I’ve always wondered why Social Security is such a problem. What’s so difficult about managing this particular Trust Fund, and why is it so different from other investment accounts that pay out a constant stream of income? The private sector does it routinely with defined benefit pension plans and fixed annuities, so what’s the big deal? Is Social Security failing because it hasn’t been invested soundly, or is there some other reason?

The most obvious explanation is politics, but we’re running out of time for finger pointing, and Social Security is solvable in a surprisingly painless manner. It will require a whole new approach that uses old ideas and institutions in ways that most of us have pretty much given up on. As hopeless as the Bush Administration’s Nicotine Patch for Social Security would have been, it pointed in the right direction. Now don’t hit DELETE when I refer to “privatization”, or when I mention one of my own most hated financial products, the “annuity”. Both are needed to permanently fix the Social Security mess, to get it away from people who are neither managers nor investment specialists, and to make the whole system work more economically. The purpose of this article is to get you to think about it… and to elect a hero with the guts to fix it. Unfortunately, Joe DiMaggio has left the building!

Are you surprised that there is no “Social Security Trust Fund”… no investments and no Investment Managers? This is a gigantic Government designed and controlled Ponzi scheme that has worked incredibly well in spite of congressional tinkering and prohibitively high cost. There was always a tax plan for funding the benefits, but never an Investment Plan. And as difficult as it is for me to admit, no sophisticated Investment Plan is really necessary. We just need a new (reduced) contribution plan, one that isn’t designed to fund every politically sensitive entitlement that compromises itself down the aisle. We need a simplified benefit structure that supplements privately funded (untaxed) retirement programs. [Healthcare just has to be a separate issue, perhaps an actual (managed) Trust Fund, and certainly something that should not be funded by private citizens until there is meaningful tort reform in this country.] Pshew! Back to the point… We can eliminate all the unnecessary bells and whistles simply by mandating personalized benefit funding. Let the politicians deal with homeland security while the private sector deals with things financial.

After the repeal of the Social Security tax and implementation of mandated Individual Retirement Plan Contributions, the Social Security bureaucracy will retain several important functions: 1) Qualifying private sector companies and licensing them to provide Social Security Retirement Income Annuities (SSRIAs). Thousands of providers will be needed, but only, fixed income experienced, profitable companies need apply. 2) Developing a computerized system for participant/provider matching… inspired randomness is essential. 3) Proactive monitoring of compliance with the minimal rules, installation of fraud detection systems, and investigation of all violations by providers, participants, and retirees, 4) Keeping the plan sacred, simple, and principally unchanged by future legislation. The plan must be kept: simple and profitable for providers; painless and visible to participants; timely and comprehensible to retirees.

The SSRIA is a new and improved version of the ancient Deferred Fixed Annuity Contract… a boring but guaranteed retirement benefit vehicle, funded by both mandated and voluntary payroll deductions, with a whole bunch of new wrinkles that make it an ideal Social Security replacement program. For example, and unlike existing annuity contracts: 1) Participants will be allocated to “qualified SSRIA providers” so there will be no sales commissions, no business acquisition or retention costs, no advertising expenses, etc. 2) All SSRIA contracts (regardless of provider) will contain the same terms, interest guarantees, retirement benefit choices, and pre-retirement death benefits, thus eliminating any incentives for internal fraud and manipulation of statistics. 3) Qualified providers will establish separate subsidiaries to manage and control SSRIA operations and to assure that only high quality, income securities are used to fund future benefits. 4) All qualified providers will use the same mortality, investment earnings and expense assumptions, and all benefits will be fully guaranteed by the parent corporations.

The SSRIA is a supplemental retirement program, funded by a much smaller, yet flexible, payroll deduction, and it is designed to be the foundation of a retiree’s total retirement package… a benefit floor. Participants will choose (annually, for the following year) to deposit from the required 2% up to a maximum 4% of their Pre-Tax Income to their personal SSRIA, a contract that will follow them everywhere, from employer to employer, throughout their working years. Before retirement, a death benefit equal to the full cash value of the contract will be paid to the designated beneficiary. At retirement, participants can elect either a Life Annuity or a Joint & 50% Survivor Annuity. No variable plans of any kind will ever be allowed; there will be no loan privileges, withdrawals, or dividends. Providers are expected to make a reasonable profit, which will ultimately be determined by their operating and investing abilities… hmmm, I smell capitalism.

Employer sponsored benefit programs and individual savings and investments are expected to make up the bulk of private retirement programs. The SSRIA will assure that everyone has something, but individual savings and retirement plans, both company sponsored and personally funded, will be encouraged by new IRS policy. No retirement income, regardless of source will be subject to income taxation! Neither employers nor self-employed persons will be required to make matching contributions of any kind to employee SSRIAs. However, they will be encouraged to use their improved cash flow to increase employment or to reduce prices, perhaps by a new system that will reduce their corporate income tax obligations as a reward for boosting the economy. Similarly, billions of dollars of discretionary spendable income will find its way back into the economy from consumers whose payroll deductions have been slashed deservedly.

Subsequent articles will deal with: SSRIA Providers, Participation Rules, Transitioning the Change at Four Levels, and Dealing with the Obscenely Overpaid.



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Tom Hartley asked:


On Monday, arts communities, networks and organizations around the province were told that they would be short $20 million that had been promised to them. Like the two faces of tragedy and comedy, the announced cuts to funding for the arts were followed shortly by headlines indicating a generous re-awarding of the original amount plus an additional $12 million. Housing and Social Development Minister Rich Coleman said Wednesday that he read over a document pertaining to funding agreements Tuesday night and concluded that “if you read the letter, and if you’re a lay person in a non-profit group in B.C., you think you’ve got three-year funding and I think that was a valid argument.” (Vancouver Sun 02/09/09). So there will be no cuts due to a technicality.

The Alliance for Arts and Culture website, previously on high alert, now gives a “sigh of relief.” But only cautiously, as if half expecting some new twist in a plot that has come to a surprisingly sudden and happy–or at least happier–end. 

On Wednesday the Sun also reports “B.C. to run record-breaking, $2.8-billion deficit this year” and the forecast seems likely, especially if the Olympics are not successful in monetary terms. But sometimes further spending is required to get out of debt.

 

Using The Arts To Restore The Economy

By investing in culture a society strengthens the networks connecting the various artists, associations and industries that produce literature, theater, music and a myriad of other forms of expression and imagination. It is this creative force that will help guide us towards resolving some of the economic issues we face in the future.

As Frank Zappa says “Art is making something out of nothing and selling it,” a skill we might need soon.



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B. Fwank Wuined Your Moms 401k asked:


… getting a snow job over this bill?

Don’t most small business guys have a bit of money on hand?

If your gutter needs cleaned, does the handyman need to go take out a loan to get gas or pick up lunch on the way over to your house?

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pecker_head_bill asked:


Recruitment programs have long used advanced education and field training as the carrot to dangle in front of young men and women in attempt to get them to sign up. “be all you can” type ads are run continuously even now when many that would sign up understand that they could be deployed after initial training. The aviation guarantee was a program that attracted many young folks throughout the sixty’s and seventy’s.

I like the commercial where the kid tells his father he has found a way to get the education he desires, the father say’s what kind of training is it? The son says the ARMY, the father just struck gold because he won’t have to foot the college tuition.

There was a time when judges would give young offenders a choice “jail or the service”

Many of the Vietnam era soldiers were from underclass family’s and had minimal education, that’s just the way it was, many of the young men and women of this era simply did not have the desire or the funds to continue into a college education and felt it was optional at the time.

Today most young folks have at least a high school education and perhaps a year or two of community college however, many were drawn to the reserves for opportunities of continued education and benefits that the job market in civilian life was not offering. Many of the older reservists were working towards a pension in addition to their civilian job retirement plans. These folks were probably well educated and had achieved officer status.

That is the current make up of the forces deployed at this time.

I think that if you look at the grunt infantry soldiers what you say is not that far off base even in this day and age. They are still honorable and brave Soldiers one and all.

I feel Kerrys comments were directed at the politicians. He is a veteran from the Veitnam war and has seen what I describe above.

J R asked:


It is so different from anywhere else in the U.S. it seems.

Public School kids get school breakfast, lunch, snack, dinner, and take home Saturday meals, and summer breakfast and lunch.

You are legally entitled to housing which is a right , and upon demand, if you are not provided within 24 hours a place to stay (even free of charge temporarily if you have no money),or the city must pay $100 first day $50 per day thereafter to you in fines.

Water is included by law in all rent. And under most circumstances cannot be shut off legally, even for non-payment.

Same with heat, with strict minimum guidelines, apartments must be kept at least 68 degrees during the daytime.

You are exempt from having an electricity meter if you are poor and in subsidized housing without major appliances, or an electricity alowance if in private subsidized housing with meters. (Most people in our neighborhood have no electricity meters – the overwhelming majority in this area)

15 Public Hospitals and 6 Clinics (weverywhere) are not permitted to turn anyone away in the Emergency Room, Doctor Clinic, Dental Clinic, Family Planing Center, or Dept. of Health or City Fitness Centers, and Health Insurance Is not a Requirement.

All government health Center fees are $10 for the poor, and all medicine at the many State Run Pharmacies are price controlled at $10 for the poor, and Free for all emergency patients.

A city run non profit insurance company free for the lower class with only $1 deductibles for the middle class, and heavily subsidized state insurance for upper middle class.

By law Medicine can never be denied if you have the inability to pay at any state pharmacy.

Pretty much everyone in the city is in a government housing program, which covers poor, middles class, AND upper middle class semi public housing and housing lotteries.

Food is also a guaranteed right, and must be distributed at drop in centers community centers, and shelter sites. Along with a 24 hour hunger hotline.

Our own City funded full University and college system of 26 colleges and Universities citywide.

Our own city run educational and news television and music and news radio station. (Both commercial free), plus the new city current affairs city hall network, and extensive NYC Media Group.

Extensive rent control in the private rental market.

Our own city progressive income tax, and our own NYC Earned Income Tax Credit, along with a very progressive state income tax and state Earned Income Tax Credit.

Fully Funded Public Schools, with High Schools of Every Specialty, Fashion, Aviation, Performing Arts, Plumbing, Electricity, Transit, you name it, with up to 10 classes a day,in some cases beautiful labs, and even escalators, our own city version of the SAT just to get into competitive high schools, Flexible curriculums with electives at nearly every level. Classes can end as late as 6pm if you choose to stay all day with electives, etc.

Very Extensive city planning, zoning, parks, all spaces.

Wal-Mart has been outlawed from the city and is not allowed to be built here.

Our supermarket grocery baggers are usually unionized.

Higher minimum wage at $7.15 an hour.

Stricter enforcement of labor laws in local courts. (Pro-labor court system)

Our own state funded Welfare Safety Net System, to replace Clinton’s eradication of Welfare (We decided to continue Welfare with our own money)

24 hour bus and train extensive transportation nearly every block of the city, even suburban areas, no more than 20 minute wait for trains late nights.

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Government is such a huge part of everyday life here, and yet poverty conditions are lower than many other cities, especially the south, we are pretty free (just like most of America, no dictator here), We are the safest city in America, and its largest at the same time (people are happier?) And our local economy is very productive (Welfare state, yet people still choose to work). And rich people didn’t leave here in droves (In fact they are still moving to Manhattan in droves) (New Construction is Everywhere) (And almost no home foreclosures).

So what gives? Are we already socialist? Is our state constitution socialist by making health care, water, electricity, housing, heat and food a constitutional right that the state must provide by law?

True taxes are higher but mostly on the wealthy, and most people don’t mind because everyone gets services, the poor middle and upper middle class, all get stuff, and the wealthy get a clean city with beautiful parks, and safety, and awesome transport / quality of life.

There are the occasional people protesting, but here people seem to love government so the majority don’t care about taxes since its money well spent. This list doesn’t even cover half the programs here. (our local library is open 9am – pm 7 days a week with one whole floor dedicated job center with library job counselors), The city also sponsors free wireless internet in public spaces, the list goes on. Anything the private sector does, NYC government does it also.

Just opened up the Center for Financial Empowerment with Free Budget Counselors, and Literacy Centers to learn English Free.

List goes on..
^9am-9pm typo