I live in a AA+ rated country.

Discussion in 'Off Topic' started by NYBanker, Aug 5, 2011.  |  Print Topic

  1. NYBanker
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    NYBanker Gold Member

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    When I was a kid at school, they told us Treasury bonds were the "risk free security that all other uses of capital should be compared against."

    Turns out that mightn't have been completely correct.

    Will our leaders in Washington - on both sides of the aisle - please wake up.

    1-Does the US Department of Agriculture need to be in over 100 countries?
    2-Do we really need customs pre-clearance at SNN for what, two or three flights a day?
    3-Maybe, just maybe, could we stop making regulations regarding home light bulbs?
    4-Could we allowed skilled labor who is willing to buy a house get fast track immigration? (Don't relax requirements, just end the multi-month black hole of getting a visa. Mimic the E-3 program beyond Australia.)
    5-Hedgies - ok, no more cap gains treatment on carried interest.

    Finally - check the historic ledgers at the Treasury and recognize that when we cut marginal tax rates, revenue has a funny habit of rising.

    We have less than 5 years to right the ship.
     
  2. PedroNY
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    PedroNY Silver Member

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    NYBanker, you got that right.
     
  3. Jim
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    Jim Silver Member

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    I affix blame to all of them.
     
  4. Gargoyle
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    Gargoyle Milepoint Guide

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    What are they doing? If they are creating export markets, that is good. If they're just sitting around drinking coffee and reading the newspaper, they can do that at home.

    OT, but the EU is doing the same thing, banning the old light bulbs.
     
  5. ChicagoEric
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    ChicagoEric Silver Member

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    realize it's a touchy subject, but i'd add the department of education to your list...
     
  6. NYBanker
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    NYBanker Gold Member

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    I'm sure the Secretary of Education could figure out how to implement all their same services more efficiently ... Perhaps even offer more services for less money ... If they put their mind to it.

    There's no glory in giving back unneeded money in washington (or in most governments), so wasteful spending has an easy habit of snowballing.

    I was at an infrastructure investment conference late last year - and two people from the GAO (gov't accounting or accountability office) were there and agreed to take questions.

    I asked (rhetorically, but hoping to be corrected!), "Who is responsible for determining what government programs are efficient and which aren't?" The fellow said that no one focuses on efficiency, and few on effectiveness. He did say it was a good idea, however.

    If we could get the same media fervor every day for some sort of government waste - look how quickly the mint acted - a lot of progress could be made. (they even redesigned their website in day!) Sadly, it shouldn't take public embarrassment to solve wasteful spending. But, barring any other evident method, perhaps it's the way to go...
     
  7. Gaucho
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    Gaucho Gold Member

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    Its time for folks in the US to think about alternate currency for (at least) a part of their financial nest egg.......
     
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  8. misman
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    misman Gold Member

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    Would that be multiple bottles of Malbec?
     
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  9. Gaucho
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    Gaucho Gold Member

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    As something to improve quality of life.... yes !!!

    As a reserve currency... not really, wine is there to drink.... so Im not sure its the best way to invest ones nest egg.... :)
     
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