whateverdude Posted October 9, 2010 Share Posted October 9, 2010 http://news.yahoo.com/s/ap/20101009/ap_on_bi_ge/us_global_finance Link to comment Share on other sites More sharing options...
jeanbe Posted October 9, 2010 Share Posted October 9, 2010 http://news.yahoo.com/s/ap/20101009/ap_on_bi_ge/us_global_finance From the article link you posted which you obviously did not read this one either. Yes, let's stop everything over .2 percent inaccuracy. "Inaccurate payments are unacceptable. Social Security's Recovery Act payments were 99.8 percent accurate and we quickly collected the majority of the inaccurate payments. Each year we make payments to a small number of deceased recipients usually because we have not yet received reports of their deaths." The inspector general for the Social Security Administration has been performing an audit to make sure no checks went to ineligible recipients. The latest report was dated Sept. 24 but was just recently posted to the agency's website. Link to comment Share on other sites More sharing options...
Chilly Posted October 9, 2010 Share Posted October 9, 2010 Using 2008's numbers: .2% of $615,344,000,000 is $1,230,688,000. That's 1.2 billion. Link to comment Share on other sites More sharing options...
The Dean Posted October 9, 2010 Share Posted October 9, 2010 Using 2008's numbers: .2% of $615,344,000,000 is $1,230,688,000. That's 1.2 billion. A billion here, a billion there...pretty soon you're talking real money. Link to comment Share on other sites More sharing options...
/dev/null Posted October 9, 2010 Share Posted October 9, 2010 A billion here, a billion there...pretty soon you're talking real money. I believe it was Stalin who said that one death is a tragedy, a million is a statistic A penny saved is a penny earned but a billion dollars is a statistic Link to comment Share on other sites More sharing options...
spartacus Posted October 9, 2010 Share Posted October 9, 2010 http://news.yahoo.co..._global_finance pretty laughable that the US is accusing China of currency manipulation China is slowing down the Fed's plan to de-value to the dollar so it can pay back its debt in inflated dollars. I's sure the Chinese as majority holders of our debt are pleased as punch to having their debt paid back with monopoly money It won't be long before the US dollar is no longer the world's reserve currency - even shorter if Geitner pushes the world into a currency and trade war. Link to comment Share on other sites More sharing options...
whateverdude Posted October 15, 2010 Author Share Posted October 15, 2010 It's all starting to fall apart right now. Goodby 401K Link to comment Share on other sites More sharing options...
/dev/null Posted October 15, 2010 Share Posted October 15, 2010 It's all starting to fall apart right now. Goodby 401K What do you mean goodbye 401k? After the inflation kicks in and the market adjusts, that $10k you put in will now be worth $1M (which of course you get to pay the taxes on when you withdraw, a gallon of gas will be $50, and the Dollar Menu at McDonalds will be replaced with the $100 value menu Link to comment Share on other sites More sharing options...
whateverdude Posted October 15, 2010 Author Share Posted October 15, 2010 (edited) What do you mean goodbye 401k? After the inflation kicks in and the market adjusts, that $10k you put in will now be worth $1M (which of course you get to pay the taxes on when you withdraw, a gallon of gas will be $50, and the Dollar Menu at McDonalds will be replaced with the $100 value menu The way I see it would not be normal inflation but hyperinflation kicking in that would make the Post-WWII hyperinflation of Hungary look like a burp. Hyperinflation bankrupts local governments and sends commodities through the roof. As prices of essential goods like food, gas, and heating oil increase and supply of those commodities decreases, people will be willing to literally sell anything that is not critical to survival in order to obtain those goods. Thus, stocks, real estate, cars - whatever is perceived to be ‘unnecessary’ - will be sacrificed in order for people to obtain the most basic of hard commodities. Edited October 15, 2010 by whateverdude Link to comment Share on other sites More sharing options...
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