What does the word outsourcing mean to you?

[SpasticGramps]

Wall Street is enabled by the FED (central bank). The FED is the root of the problem. It's Wall Street's bank. They are the dictators. Unless it is controlled everything else doesn't matter.

We must become a land of laws rather than men. Until the corrupt are held accountable we will continue to be exploited.

 

[Greensub]

Wow, what happened to 'outsourcing'?....sorry, couldn't help it.

you always know which threads are gonna go political... and once it does it's free for all. That's why they get closed a lot. I don't mind when it goes off track and becomes political... I just object to it coming to abusive verbal attacks that have no logical or constructive basis. If we can all behave like gentlemen it wouldn't be a problem I think.

 

[mean mr.mustard]

I'm laughing my ass off right now!



"Oh boohoo... corporations are going to stomp on dead bodies to climb to the top... robots are better than jobs... that's the way it should be because that's the way it is... cry me a river... let's ride off into the sunset of a bright new world"

This shit can't be written by Hollywood...

 

[HempKat]

Who LET them make there derivatives? It was Clinton/Bush! Why? Because the banks REFUSED to make the subprime loans without a backstop...Clinton provided it. Too good a backstop...the banks went NUTS giving loans to anyone...NINJ loans...because the GOVERNMENT interfered. YES...the banks got greedy...but it wouldn't have happened IF the government hadn't changed the rules. Nobody in their right mind would give a mortgage in the inner city without government intervention.

The actual crash occurred when oil rose and gas went to around $5 a gallon. People couldn't afford to buy gas AND pay the other bills. Many...if not most people live pretty much paycheck to paycheck...they can't absorb a $100 a month increase. They decided they didn't need the too big house...or in the case of the poor...ANY house of their own...so they stopped paying their biggest expense. That crashed the mortgage derivatives market. And now...nobody knows who holds the notes! That is what stopped the foreclosures...no signed notes available at foreclosure...the banks were FORGING that they had possession of the original note...they didn't. JUST like Obama and his birth certificate! (yes, I would like to see the signed original since there IS a chance he could be foreign born...his father wasn't a citizen)

They didn't create something out of nothing...they sold WORTHLESS bundles or WORTHLESS sub prime mortgages...all backed by the US government. These are the "toxic assets" that the fed was buying during TARP. Now they're buying back their own bonds...I know...crazy!

The people and the banks went crazy because the government INTERFERED. The banks would NOT have made loans to those people without the interference. Remember when you NEEDED 20% down? Well that was BEFORE Clinton told the banks they HAD to loan to the poor.

You're close...you're on the right track...

I know I'm on the right track, too bad I can't seem to get you there. It wasn't the gas prices that crashed the market. It was all those adjustable loans suddenly adjusting upwards to rates even a rich person would be challenged to pay. The preditory lending that was going on were telling people not to worry, "just look how rates have been the past few years, they won't adjust up anytime soon." I know for a fact that was happening because I had a couple of people trying to talk me into buying a second home as an investment. Using that same pitch.

When you got someone working a minimum wage job and you get them into a $300,000 ARM even a half percent increase is going to do them in. That's what happens though when you promote your company buy say, "No Job? No Money? No Credit? No Problem! What the gas prices did was insure that not only did all the toxic loans fail but some of the ones that were borderline normal loans also failed. As for the derivatives. It was something out of nothing, one because AIG issued them A+ ratings which meant they were safe loans but they did it with an insurance instrument that did not require the banks to have enough money on had to cover the derivatives if they did fail. So buyers of the derivatives were being told essentially these were safe guarenteed investments when they were not anything even remotely close to that. Further they bundle them up in a way where mortgages were spread over multiple derivatives rather then one entire mortgage being tied to one derivative. Thereby making a scenario where one mortgage foreclosing could cause multiple derivatives to fail.

What's so baffling to me is so many "Financial Experts" from around the world bought into the scam without recognizing the risk or at best thinking that somehow they would be able to avoid the risk. One would think the majority of them would have seen how unsafe these derivatives were.

As for Obama and his birth certificate well first of all multiple respectable sources from both sides of the political aisle have witnessed and confirmed Obama's birth certificate exists and is accurate and proves he is a citizen. The fact his father wasn't has absolutely zero meaning as it is a long standing policy that anyone born within the USA is automatically a naturalized citizen regardless of where their parents are from.

 

[HempKat]

Two words: BIG PICTURE. Look at the BIG PICTURE, and inventions like robotic checkout lines are clearly huge improvements over the status quo.

Have you ever actually used one, maybe it's an improvement over having some mentally retarded cashier but just slightly.

 

[HempKat]

more profit for the share holders, thats what it's all about.

Bingo

 

[Greensub]

and executive pay, don't forget that.

 

[HempKat]

Wow, what happened to 'outsourcing'?....sorry, couldn't help it.

You need to call and ask Peggy.

 

[DiscoBiscuit]

What's so baffling to me is so many "Financial Experts" from around the world bought into the scam without recognizing the risk or at best thinking that somehow they would be able to avoid the risk. One would think the majority of them would have seen how unsafe these derivatives were.

IMO, it's the "at best" scenario. The players new the music would stop but nobody thought they'd be left standing.

I read an article that explained how Moodys rated CDO packages according to the highest rated mortgage in the bundle. Typically, the rest was junk. Potential CDO buyers caught on and resisted so they were offered insurance (derivatives) that paid in the event the CDO didn't. Derivatives are commonly set up to pay only the difference that CDOs (or other high risk investments) fail to pay.

This is what rocked AIG, too many payouts on bogus CDOs. They would have sunk w/o bailout and Goldman Sachs and Hank Paulson weren't about to allow that.

And here's what happened to Lehman Bros...

Everybody played the subprime market. Banks said they were worth x when x was influenced by worthless investments. But Lehman sunk too much of their interest in CDOs. If the bubble burst in housing prices, Dick Fuld and Lehman would have basically sucked AIG dry singlehandedly, leaving the rest of Wall Street with worthless insurance policies.

So a few unscrupulous competitors set out to short Lehman stock trades, causing more short selling. It was like a siphon, bleeding Lehman of capital to operate.

So Goldman Sachs and remaining players reaped the benefits of AIG derivative payouts but only after the taxpayer propped up AIG.

 

[Grimr3efer]

Thanks for sharing

Thanks for sharing

Yup a lot of shady things going down. BTW I didn't loose my job to outsourcing "yet"... When I do get laid-off I have backup plans. I will survive! I have skills outside of the workforce.

For the record....I am American. My grandfather didn't do their job for Corporate America to sell us out down the road. They worked hard so we would have something "better" not for them to exploit us. So why do we diserve respect?...

WHO MADE THE BOMB FIRST!!!!!!!!!!!!!!!!
WE DID!!!!
WHO USED IT!!!!!
WE DID!!!! WHO STOLE OUR TOP SECRET INFORMATION so Soviets now have it and many others... Isralies thieves!

Talking with a friend of mine we have some ideas. One idea is to make it so that Corporations/Foundations cannot hide ownership. This is what they are best at.

So lets say BP has a disaster. Everyone says BP did it... Ok now go find me BP. You can't find BP cause BP is not a person. But really its controlled by someone. The guy who owns BP hides behind his Co front. We will never be able to get at him but we should. He should be responsible, and held accountable. This is your Co. now deal with it. If you can't put your ass on the line then you need to step off. This is one of many problems. These guys are untouchable.

Everyone needs to come together and do whats best for the people... not your stinking business and how much your greedy paws can rape from your neighbor. This is what we get from a corrupt monitary system. Gramps I'm with you bro. The FED must end.

 

[oldog]

We caused it. We drove for miles to save a few dollars and killed the
guy on the corner. My biggest issue is monopolism. One company controls most markets with no major feared competition. Productivity and efficiency are false gods.
We must find a way to live pleasantly and peacefully.
Those of you who have gods to pray to, pray for a more sensible new year.
Respect to all.

 

[draco]

haven't read the thread...

does anyone still think that it's all coming back?... cause i sure don't. time to start trading locally as much as possible. take back our own economy from the rich who don't give a damn.

i feel nice tonight so i'll stop now.

 

[SpasticGramps]

Wealth disparity was a major contributor to the burning of Rome.

History shall repeat itself eventually.

 

[DiscoBiscuit]

I wonder how long Rome would have lasted with fractional reserve banking.

 

[SacredTHCRitual]

outsourcing?

an attempt to keep up with cheap labor markets and still reap huge profits

less home grown production


anyone ever wonder why America hasn't come up with more products we can export? we import everything...What ever happened to the demand of "American Made"...can it brought back? what value can American Made bring?

 

[supermanlives]

it means you need to move to india to get a job

 

[DiscoBiscuit]

outsourcing?

an attempt to keep up with cheap labor markets and still reap huge profits

less home grown production


anyone ever wonder why America hasn't come up with more products we can export? we import everything...What ever happened to the demand of "American Made"...can it brought back? what value can American Made bring?

IMO, our exports are exclusive. Example Caterpillar, Boeing, etc. Otherwise we're priced out of some markets. Also my opinion, demand for American made was primarily by Americans (or Chinese Buick fans, lol.)

 

[Blueshark]

Outsourcing..

Outsourcing..

less home grown production


we import everything...What ever happened to the demand of "American Made"...can it brought back? what value can American Made bring?

I will say this, if the economy DOES crash, we won't be able to afford to import ANYTHING. Then, perhaps, we will once again start making things here instead of 'outsourcing' all.

This country used to lead the world in innovation and invention. Is it any wonder we fall behind? What incentive is there when a Corporation gets most of the credit and practically all the profit from the above. Why would/should the little guy work his proverbial ass off for someone else's profit/benefit?

Sadly, that is the system we now have in place.

 

[DiscoBiscuit]

I agree with Blueshark. (Blueshark, don't faint, lol.)

I wish we could find balance where labor-intensive business needs us as much as we need them. Allow execs to get ahead so they can help take care of labor (who help take care of execs.)

My American company was taken over by a European outfit in the 90s. I had the opportunity to work for German execs. I get the impression that European execs don't squeeze the workforce for profits like Americans. These guys didn't live lavish lifestyles either. And they laid off American execs and managers that had previously lavished themselves with perks at the company's expense.

Is 400x enough or is it just a step to the next plateau?

 

[pearlemae]

We are rapidly becoming a third world nation. High levels of debt to other countries, and a serious lack of manufacturing capacity. Yeah we still make cars, a couple of names left, not like when I was a kid and we made a hell of a lot more cars than now. We don't make much of anything any longer. Saw where BMW was going to open a plant in So. Carolina cause they could pay the U.S. auto maker $15 an hour where the German autoworker was getting $30 an hour. We have fallen a long way and we can thank the large mega corps and banks for buying the best government they could. Thirty years ago America was the worlds largest lending nation, we are now the world largest debtor nation. And with the current political climate we are going to be really screwed, if your one of the top 2% you'll be ok everyone else watch out.