$100, 8 Hour CPA CPE "What Could Happen
After What May Happen Next"
September 30, 2010
8:30am to 4:15pm
Quality Inn
440 Griffith Road
Charlotte, NC 28217
Greensboro CPA CPE "What Could Happen
After What May Happen Next"
September 21, 2010
8:30am to 4:15pm
Drury Inn & Suites,
Greensboro, NC
$100, 8 Hour CPA CPE "What Could Happen
After What May Happen Next"
September 9, 2010
8:15am to 4:30pm
Days Inn, Raleigh-Airport Research Triangle Park
1000 Airport Drive
Morrisville, NC
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“Spain uses social security fund to prop up the bond market
Spain is putting all its eggs into one basket…
The state pension fund…is buying Spanish sovereign debt at a vertiginous pace.
…the share of [the state pension fund's] total portfolio invested in Spanish government bonds rose from below 50pc in 2007 to 76pc in 2009.
The Social Security [...]
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“Why The US Has Really Lost 11.2 Million Jobs This Recession
…while the total US population has increased by 6.8 million from 303.3 million to just over 310 million [between December 2007, and] July 2010, over the same 32 month period, the civilian labor force has declined from 153.9 million to 153.6 million.
If some [...]
We Lost Track of $25 Billion?
I have been keeping an eye on the monthly numbers for the Social Security Trust Fund…
…There was no logical explanation for the continued drop in YoY payroll tax receipts.
Two important sources have “explained” this drop. Both the SSTF [Social Security Trust Fund] and the CBO [Congressional Budget Office]have confirmed that [...]
The FCIC: Passing the Buck
…the federal government’s Financial Crisis Inquiry Commission held hearings as part of their continuing investigation into the causes of the acute economic meltdown which occurred in late summer 2008.
…The individuals questioned by the commission mostly seem to be diverting blame for the whole fiasco to someone else.
…The reality is that the [...]
August 12th, 2010 | Tags: Accounting Ethics, CPA Continuing Education, Debt, Generational Ethics, Great Depression, Journalism Ethics, Political Ethics, Social Security, Statistics, UnemploymentIf you tell a lie big enough and keep repeating it,
people will eventually come to believe it.
The lie can be maintained only for such time
as the State can shield the people
from the political, economic and/or military consequences.
Joseph Goebbels
Statistics mask real economic pain
The jobless rate improved this week. It’s now [...]
U.S. Is Bankrupt and We Don’t Even Know: Laurence Kotlikoff
Let’s get real. The U.S. is bankrupt.
Neither spending more nor taxing less will help the country pay its bills.
…Last month, the International Monetary Fund released its annual review of U.S. economic policy.
…the IMF has effectively pronounced the U.S. bankrupt. Section 6 of the July 2010 Selected [...]
The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis and to have significantly underestimated its dimensions once it started to unfold.
…We trace the deeper roots of this failure to the profession’s insistence on constructing models, that…disregard the key elements driving outcomes in real-world markets.
The economics profession [...]
…The Diminishing Productivity of Debt Chart
comes from the U.S. Treasury’s latest Z1 data…
…the most important chart of your lifetime.
It relegates almost all modern economists and economic theory
to the dustbin of history.
Any economic theory, formula, or relationship
that does not consider this non-linear relationship of DEBT and phase transition
is [...]
If workers earn, pay taxes, spend, save and invest,
while retirees divest, downsize, budget
and draw income and healthcare benefits,
what’s going to happen when more retirees want
what fewer workers may not be able to deliver?
It is incumbent on government to convey to future retirees
that the real resources currently promised to be available on retirement,
will not [...]
…If historians look back on today’s severe downturn
with its crumbling markets, rising unemployment and massive government interventions
they could well be busy analyzing how globalization,
the spread of trade, finance, technology
and the movement of people around the world went into reverse…
…For generations, the deficits that we have run this past decade
and the trillions [...]
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