Daily Digest

Daily Digest - July 22

Thursday, July 22, 2010, 10:52 AM
  • King World News: Eric Sprott Interview
  • Economic Growth Slows: Index
  • In Jail For Being In Debt
  • Gold Coin Sellers Angered by New Tax Law
  • Bank of England Could Pump More Cash Into The Economy: MPC Minutes
  • Has the Dollar Crisis Become Even More Likely?
  • China: The U.S. Is "Insolvent And Faces Bankruptcy"
  • Top Chinese Economists Call For Government To Ditch U.S. Treasuries And Buy Gold
  • Michigan Says Enough To Fed: Takes Matters Into Own Hands As It Starts Using Own Currency...And Gold
  • Double Dip In The Baltic
  • Europe's Delusions of Safety
  • Failed Safety Device On Deepwater Horizon Rig Was Modified In China
  • BP Admits To Doctored Oil Spill Photo
  • Gulf Oil Spill 2010: Seafood Safety Following the Gulf Oil Spill

Economy

King World News: Eric Sprott Interview (Davos, pinecarr)

Eric Sprott is Chairman, Chief Executive Officer & Portfolio Manager of Sprott Asset Management - Eric has over 35 years of experience in the investment industry and manages roughly $5 billion. Eric has been stunningly accurate in his writings for over a decade, and is one of the highly respected industry professionals who was able to foresee the current crisis. He chronicled the dangers of excessive leverage as well as the bubbles the Fed was creating, while correctly forecasting the tragic collapse we are all enduring.

Economic Growth Slows: Index (Damnthematrix)

The index tracks eight gauges of activity, including company profits and productivity, foreshadowing the economy's performance over the next three to nine months.

The result marks the second consecutive month where the index has fallen, indicating that growth might have peaked.

In Jail For Being In Debt (video, VeganD)

Finally, after 16 hours in limbo, jail officials fingerprinted Uhlmeyer and explained her offense -- missing a court hearing over an unpaid debt. "They have no right to do this to me," said the 57-year-old patient care advocate, her voice as soft as a whisper. "Not for a stupid credit card."

Gold Coin Sellers Angered by New Tax Law (Jamie D.)

Those already outraged by the president's health care legislation now have a new bone of contention -- a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.

Bank of England Could Pump More Cash Into The Economy: MPC Minutes (SolidSwede)

Of the Chancellor’s planned £113bn of tax rises and spending cuts, the minutes said it is “likely that they had pushed down a little on the most likely path for output, while at the same time reducing the risks to growth from a sharp rise in longer-term interest rates”.

Has the Dollar Crisis Become Even More Likely? (pinecarr)

Given where we are now, were I asked yet again to place a probability on a dollar crisis occurring during the coming two years, I would place it at 80-85%.

China: The U.S. Is "Insolvent And Faces Bankruptcy" (pinecarr)

It is the Western mind that is so incapable of seeing the many shades of gray in every situation, the subtle gradations in a range of choices that I believe China not only sees but is already actively pursuing.

Top Chinese Economists Call For Government To Ditch U.S. Treasuries And Buy Gold (Damnthematrix, pinecarr)

A former advisor to the Chinese central bank, and influential economist, has called for his nation to diversify away from U.S. treasury holdings.

Michigan Says Enough To Fed: Takes Matters Into Own Hands As It Starts Using Own Currency...And Gold (pinecarr)

Either in anticipation of QE2 which will cut the value of the dollar by another 50% once another $2 trillion in toxic crap becomes the "assets" backing the viability of the dollar, or just because they are sick of Fed policies, mid-Michigan has taken monetary matters into their own hands, and in one simple act, completely bypassed the destabilizing influence of the domestic currency printers.

Double Dip In The Baltic (pinecarr)

The facts are that the BDI index of freight rates for bulk goods such as iron ore, coal, and soybeans, has fallen from 4,200 to 1,720 since the end of May. The Capesize index (ships too big for the Suez Canal, and essentially a proxy for iron ore) has dropped even more sharply from 5,520 to 1,676.

Europe's Delusions of Safety (kelvinator)

George Bernard Shaw observed that "Hegel was right when he said that we learn from history that man can never learn anything from history." Emerging details of European Financial Stability Facility (EFSF) bear testament to this. The structure echoes the ill-fated Collateralized Debt Obligations (CDOs) and Structured Investment Vehicles (SIVs).

Environment

Failed Safety Device On Deepwater Horizon Rig Was Modified In China (denszcz)

This weekend BP remained cautiously optimistic that the cap placed on top of the Gulf of Mexico well on Thursday night would continue to hold back the torrent of oil. It is the first time the flow has been stopped since the accident happened almost three months ago. But BP said that the pressure readings from the Macondo well were not as high as it had hoped, which could indicate that it has ruptured and that oil could be leaking out somewhere else.

BP Admits To Doctored Oil Spill Photo (Damnthematrix)

The original picture, which was posted over the weekend, shows workers monitoring a bank of 10 giant video screens displaying underwater images. However a few telltale discrepancies on the image attracted the attention of the Americablog website, which has since published new reports of altered images on BP's website.

Gulf Oil Spill 2010: Seafood Safety Following the Gulf Oil Spill (VeganD)

CDC recognizes the importance of anticipating, monitoring, and responding to public health hazards that may affect human health. CDC is monitoring for potential illnesses across the United States that may be associated with exposure to contaminated seafood. Persons who consume seafood contaminated by oil may experience the following symptoms: nausea, vomiting, diarrhea, and abdominal pain. We understand that these symptoms are general, and that consumption of contaminated seafood might not necessarily be the cause.

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

20 Comments

saxplayer00o1's picture
saxplayer00o1
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Re: Daily Digest - July 22

"(Reuters) - The Federal Reserve stands ready to ease monetary policy further if the budding U.S. economic recovery withers, Fed Chairman Ben Bernanke said on Wednesday, describing the outlook as "unusually uncertain.""

"Pressed on what the Fed could do to ease monetary policy further, Bernanke said it could reinvest mortgage bonds that are rolling off its balance sheet or engage in further debt purchases. It could also lower the rate it pays banks to park their excess reserves at the Fed, he said.

"If the recovery seems to be faltering, then we at least need to review our options. We have not fully done that review," he said."

......................1A) Fed chief Bernanke urges spending to help recovery

"July 22 (Bloomberg) -- Chinese banks face rising credit risks and their non-performing loan ratios are likely to climb as the nation’s economy slows and lending for government projects comes due for repayment, according to Standard & Poor’s.

It’s “highly likely” that some loans to local government financing vehicles will turn bad over the next few years, S&P said today. Loans to these entities account for about 18 percent to 20 percent of total lending, the rating company said. S&P kept its “stable” outlook on China’s banking industry, citing “sufficient strength.”"

"July 22 (Bloomberg) -- Russia raised 34 billion rubles ($1.1 billion) less than offered at two bond auctions yesterday as investors demanded higher yields than the government was willing to pay.

Prime Minister Vladimir Putin’s administration failed to sell 30 billion rubles of bonds due in July 2015, said Alexander Shcherbakov, deputy head of the Finance Ministry’s debt department. The government issued 11 billion rubles of notes due January 2013, less than the 15 billion rubles planned, at a yield of 6.28 percent, four basis points, or 0.04 percentage point, higher than rates on existing debt, according to data compiled by Bloomberg.

Investors sought yields at least seven basis points higher than the ministry offered for the 2015 bonds, Troika Dialog’s Alexander Ovchinnikov said. "

"WASHINGTON -- Thanks to the overhaul of financial rules becoming law Wednesday, the Federal Deposit Insurance Corp. can truthfully say "the check is in the mail" to about 9,500 customers of banks that failed in 2008.

The agency plans to mail depositors roughly $200 million Thursday.

The maximum the FDIC would insure in any single deposit account was raised from $100,000 to $250,000 at the height of the financial crisis in October 2008, as part of the $700 billion rescue package.

The law President Barack Obama signed Wednesday makes the higher cap permanent, retroactive to Jan. 1, 2008. "

"Twenty-five banks failed in 2008, the year the financial crisis struck with force, and only three fell in 2007, but 96 have failed so far this year.

The failures have drained billions of dollars from the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31."

"Miami commissioners, struggling with a massive budget shortfall, will weigh an increased tax rate Thursday."

"Couple that with a decision by commissioners to raise the city's garbage fee by $30, to $395 a year, and some residents are bracing for pain.

``I think if you raise all kinds of fees for the taxpayer . . . '' Coconut Grove activist Grace Solares said, trailing off in thought. ``I, for one, would like my bill to be less this year.''

The administration is recommending commissioners increase the property tax rate from $8.33 for every $1,000 worth of property value to $8.64 per $1,000 -- a 3.7 percent increase in the rate.

The key reason for the hike: The $255 million Homeland Security Bond series, approved by voters, calls for increased debt payments as more bond money is used.

The bottom line: If you own a home valued at $200,000 that did not decrease in value this year, you will pay an additional $68 in taxes in 2011."

"The city has rifled through a sizable rainy day fund in recent years -- using about $120 million to balance its books -- and is being pressed further by an ever-increasing pension obligation.

Miami commissioners are facing a $100 million shortfall for 2011. Much of that is due to a $101 million pension obligation triggered by a contract awarded to the fire union by commissioners, including Regalado, in 2007. "

"Regalado says the five commissioners face little choice but to act: Letting the city slide into bankruptcy, or bringing in a state oversight board, places future bond deals in jeopardy, he said."

"Officials are taking a hard look at the possibility of borrowing money from the federal government should Utah’s trust fund for paying unemployment benefits go broke.

The option was put forward Wednesday as a panel of business, labor and public representatives considered ways of averting bankruptcy for the trust fund."

"It has begun. The first round of the long-anticipated, school-based layoffs by Chicago Public Schools to deal with a record $370 million budget deficit will claim 600 staffers by week's end.

Notices began going out Wednesday to 400 classroom teachers and 200 educational support personnel, a CPS official said. The 600 represent staff at about 200 Track E elementary schools that start their year earlier than most schools, on Aug. 10."

"The responsibilities of a city's public works department include some of the most basic services people associate with their government: fixing streets, repairing sidewalks and trimming trees, for instance.

Those jobs have gotten harder in Stockton as its finances have faltered. The situation is not going to get any better.

In the next year, if the drinking fountain in your nearby park breaks, don't expect it fixed anytime soon.

Risk tripping over a raised, cracked sidewalk? The city will grind it down but won't permanently replace it. Cracked streets may continue to deteriorate.

Public works officials say another year of budget cuts is digging deeper into services for which they've already fallen behind."

"There are fewer people to do all the work. In the past two years, the department has lost more than 75 workers, Murdoch said. Today, there are only about 10 street crew members available."

"(CBS) Despite its name, Bell, Calif., doesn't have much of a ring to it these days. Unemployment is 16 percent and most people in this blue collar town make about $30,000 - unless they work at City Hall, reports CBS News correspondent Ben Tracy.

Irate taxpayers stormed the building after finding out that the city manager is paid nearly $800,000 to run a town of just 37,000 people.

"We're being ripped off, we're being looted by this administration and we want to put an end to it," said one protestor.

Robert Rizzo has run Bell for 17 years. His starting salary was a reported $72,000. Thanks to pay hikes and an automatic 12 percent annual raise, his salary has skyrocketed nearly 1,000 percent.

He now makes three times as much as the mayors of Los Angeles, $232,425, and Chicago, $216,210 and nearly twice as much as President Obama, $400,000. Rizzo doesn't even live in Bell, he lives in a million-dollar home near the ocean in Huntington Beach. Tracy went to City Hall to talk to him and he wasn't on the job.

Taxpayers are also angry that the city's police chief makes $457,000. That's twice a much as New York's police commissioner, $205,000, who leads nearly 35,000 officers. Bell's chief oversees 33. "

"Port Authority estimates that a 35 percent service cut proposed for January would result in 31,000 to 46,000 fewer transit riders per day, further clogging up the parkways and intensifying the daily battle for scarce Downtown parking.

It also would leave riders like Keith Leggett Jr. stranded.

"I would be cut off," said Mr. Leggett, 45, of McKeesport, a regular rider of the G1 West Busway route, which is slated for elimination.

Riders like Mr. Leggett were worried and frustrated at learning Wednesday about the proposed cuts, which will be made if the authority doesn't get more state funding to fill a projected $50 million budget deficit.

The news came as no surprise to rider Mona Stuvaints, given the authority's years of financial struggles. "They've got to take money from here, here and here to make ends meet," said Ms. Stuvaints, 40, of the North Side."

"All of the council members at the committee meeting agreed that a sales tax hike should not be the sole solution to the city’s budget shortfalls.

Former City Attorney Michael Aguirre, who attended the meeting, said the money would likely go straight into pension funds, which has a deficit of more than $2 billion"

"LISBON — Portugal's banks suffered a ratings downgrade on Wednesday as they increasingly relied on the European Central Bank for crucial funds to keep them in business.

Local banks sourced 40.2 billion euros (51.9 billion dollars) at the ECB, up 12 percent from May and nearly four times the amount they borrowed in June 2009, the Bank of Portugal said.

In May alone, the amount doubled to 35.8 billion euros from 17.7 billion euros in April.

International ratings agency Fitch meanwhile said Wednesday that it was downgrading five Portuguese banks, including the top three private groups, because of their problems in accessing funds on the money markets."

"City officials have consistently cited the compounded COLA as a leading cause for the poor state of the city pension system, one of the lowest funded of municipal pensions in the country, according to the council.

The fund has an accrued liability of $1.2 billion, but assets of about $265 million, leaving its liability more than 70 percent unfunded, according to the most recent data from the council."

"Very high inventories could pressure prices, NAR says

WASHINGTON (MarketWatch) -- Resales of U.S. homes fell 5.1% in June to a seasonally adjusted annual rate of 5.37 million as a federal subsidy for home buyers ends, the National Association of Realtors estimated Thursday.

Economists surveyed by MarketWatch were expecting existing-home sales to fall about 10% to a 5.10 million annual pace. See our complete economic calendar and consensus forecast.

Sales were at the lowest seasonally adjusted level since March. Read the full report on the NAR website.

Inventories of unsold homes increased 2.5% to 3.99 million in June, representing an 8.9-month supply, the highest since August 2009.

In coming months, the supply is expected to rise above 10 months, putting downward pressure on prices, said Lawrence Yun, chief economist for the real estate agents' lobbying and advocacy organization."

  • Other news and headlines:

Hungary Raises Planned Amount of Debt at Sale as Costs Rise

State Deficit May Grow by $560 Million (Michigan)

Food program assisting needy goes bankrupt

Potential Medicaid Cuts Looming (Oklahoma)

NM revenues weaken, more state budget cuts loom

Newark, New Jersey, May Move to a Four-Day Work Week Amid Gap, Booker Says

California city manager's pension could top $30 million

City bond interest up due to state rating (Mt. Vernon, Illinois)

German bond sale fails as haven appeal ebbs

Nearly 100 Sacramento city workers get layoff notices this week

Oakland, Seeking Financial Lift, Approves Giant Marijuana Farms

'Last' Huge Oil Fields to Cost $2Bln (Russia)

Pensacola Beach Daily Oil Spill Report July 22 2010 AM (Video)

First-time jobless claims jump to 464K, reversing previous week's sharp decline

Leading indicators drop in June as recovery slows

jrf29's picture
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Re: Daily Digest - July 22

In Jail For Being In Debt

This is a very misleading article by the Star Tribune, in the worst tradition of journalism.  What the article tries to cleverly downplay is that each of these people were not arrested "for being in debt."  They were arrested for contempt of court, after they ignored summonses to appear.  When a court asks you to appear for a hearing, and you extend your middle finger to the judge by not going, you should expect to be physically taken there.  Most of these people probably missed multiple court dates.

Star-Tribune wrote:

"Though [Poplawski] knew of the warrant and unpaid debt, "I wasn't equating the warrant with going to jail, because there wasn't criminal activity associated with it," she said. "I just thought it was a civil thing."

Right.  If somebody owes you money but they simply throw court documents into the trash whenever they receive them, what's the point of having a judicial system?  This is where the capias comes in (the equivalent of the default warrant in criminal cases).

The capias is not new.  In any civil case where the defendant repeatedly shows their contempt for the court by simply not appearing, eventually the judge will become fed up and order them physically taken there.

When a person has reached that point, being let out of jail before having their court appearence is a privilege, and if bail happens to be set at the amount of the debt, so much the better: their bail money will be returned to them when they make their appearence at the court.  If they vanish into the night again, then at least the plaintiff will have some form of recourse.

I have sympathy for people who default on debts through circumstances outside their control.  But I have no sympathy for people who can't be bothered to perform their most basic duties as a citizen.  If they show their disdain for society by taking a judiucial summons and chucking it into the trash, they deserve the inconvenience of being arrested and held overnight in a chilly lockup before being physically taken into court.

printfaster's picture
printfaster
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Re: Daily Digest - July 22

Actually I disagree.  Court should be contempted when debt amounts are trivial.  Debts less than $1000 have no business being in any court.  There are many other methods to deal with small amounts.  Sorry, but if you get involved with a debt that small and cannot collect.  Tough.  Your fault for issuing the debt.

Getting the legal system involved in trivial matters is simply oppressive and harks back to debtor's prison.  Courts are contemptible for even getting involved.  Part of the reason that we have small claims court.  I have no place for contempt of court application to trivial matters.

 

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Re: Daily Digest - July 22
printfaster wrote:

Actually I disagree . . . Debts less than $1000 have no business being in any court.  There are many other methods to deal with small amounts.

  Ah... so for debts less than $1,000 you are advoacting that citizens use -- shall we say -- "self-help" methods?  Far more civilized than using the court system to collect those small debts.

Or are you merely suggesting that there should be no effective way to collect small debts, thereby ensuring that lenders will give only large loans?

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Re: Daily Digest - July 22

This article is insane and misleading.  Jrf29 is on the money. 

Printfaster - if court orders can be ignored without consequence then the least of all our concerns will be the the 3Es.  These people spit in the face of a legal court order they received as a result of their failure perform.  It was their lack of payment, their actions that caused the court order.  Their overextension of leverage.  To then not to have to answer to anyone is absurd.  We must live and abide by our laws or we are toast.

 

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Re: Daily Digest - July 22
printfaster wrote:

Actually I disagree.  Court should be contempted when debt amounts are trivial.  Debts less than $1000 have no business being in any court.  There are many other methods to deal with small amounts.  Sorry, but if you get involved with a debt that small and cannot collect.  Tough.  Your fault for issuing the debt.

Getting the legal system involved in trivial matters is simply oppressive and harks back to debtor's prison.  Courts are contemptible for even getting involved.  Part of the reason that we have small claims court.  I have no place for contempt of court application to trivial matters.

 

Printfaster

You are absolutely wrong on this issue. Here is a personal example to illustrate. Several years ago a woman hit my car from behind with her car. She clearly was at fault causing several hundred dollars damage to my vehicle.  When I tried to get the issue resolved she simply ignored my request for payment of repair bills. After many attempts  to resolve the issue I finally had to take her to small claims court. The court found in my favor and awarded me damages. Suppose she had ignored the court summons. Should she be allowed to simply ignore me and the court just because she does not want to pay. What does one do if you can't go to court? Send over Vito the Knee breaker to collect debts. The judicial system does not work very well but at least it is something.

By the way even after the court judgement I had to threaten to have her wages attached before she finally paid.

Ken

 

 

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Re: Daily Digest - July 22

An very large number of people every year are killed over sums a lot lower than $1000.  I don't know about y'all, but in these parts, that's still real money.

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Re: Daily Digest - July 22 freedocumentaries.org

good site for free documentaries.

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Re: Daily Digest - July 22
jrf29 wrote:

In Jail For Being In Debt

This is a very misleading article by the Star Tribune, in the worst tradition of journalism.  What the article tries to cleverly downplay is that each of these people were not arrested "for being in debt."  They were arrested for contempt of court, after they ignored summonses to appear.  When a court asks you to appear for a hearing, and you extend your middle finger to the judge by not going, you should expect to be physically taken there.  Most of these people probably missed multiple court dates.

The capias is not new.  In any civil case where the defendant repeatedly shows their contempt for the court by simply not appearing, eventually the judge will become fed up and order them physically taken there.

When a person has reached that point, being let out of jail before having their court appearence is a privilege, and if bail happens to be set at the amount of the debt, so much the better: their bail money will be returned to them when they make their appearence at the court.  If they vanish into the night again, then at least the plaintiff will have some form of recourse.

I have sympathy for people who default on debts through circumstances outside their control.  But I have no sympathy for people who can't be bothered to perform their most basic duties as a citizen.  If they show their disdain for society by taking a judiucial summons and chucking it into the trash, they deserve the inconvenience of being arrested and held overnight in a chilly lockup before being physically taken into court.

I was under the impression that if a defendant does not show up for a civil court hearing, such as one to collect on debt, then a default judgment will be issued against that defendant. The plaintiff can then use the court system to collect on that judgment by garnishing wages, liens on property, etc. I'm not sure why there's any need to jail the defendant for failure to show up to civil court.

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Re: Daily Digest - July 22
ashvinp wrote:

I was under the impression that if a defendant does not show up for a civil court hearing, such as one to collect on debt, then a default judgment will be issued against that defendant. The plaintiff can then use the court system to collect on that judgment by garnishing wages, liens on property, etc. I'm not sure why there's any need to jail the defendant for failure to show up to civil court.

As an attorney, I have little sympathy for people who don't bother coming to court.  And I have in the past occasionally represented creditors, so I am not really wired to feel much sympathy for most debtors.  All that said, ashvinp is correct.  Most states do not give creditors the power to obtain arrest warrants outside of the family law setting (meaning, unless enforcement is sought for unpaid child or spousal support).  Instead, it works exactly as ashvinp says:  if the debtor fails to appear the court will automatically determine the debt is genuine, enter judgment, and the creditor can then begin collection via garnishment, liens, repossession, whatever.  I'm generally ambivalent about creditors having such heightened powers, but doubtless there are cautionary tales that would break hearts and I suspect I could be convinced that such powers should be reserved for the worst types of debtors.

I actually read the article in question back in June.  I would have sworn I got there via this forum, but perhaps not.

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Re: Daily Digest - July 22

Good point about default judgements, and I agree, the capias should not be used when it is not necessary.  And my understanding is that they are generally not. 

My understanding is that civil arrest warrants are very rare, but they are used when there is some legitimate reason why the presence of the defendant is necessary for the case to proceed.  For example, there might be cases where a default judgment alone is of limited value to the plaintiff: it's pretty hard to garnish wages or levy bank accounts if the person isn't responding to discovery requests and you have no efficient way of determining what bank their money is deposited at, where they are employed, or where their other assets are located.

In my own county district court I have watched some of the civil debt collection cases that come up after the morning's criminal business is finished.  Without exception the judges seem very hostile to the credit card companies and other out-of-town creditors who have cases against local residents, and I don't imagine they hand capias out like candy at the request of a credit card company, unless there is a good reason for it.

But the newspaper article seems to imply that the courts shouldn't have this power at all.  That there should be no way to force a defendant to appear in court, even when the judge has decided that it is necessary.

Of course the power should not be abused (just as any power shouldn't be abused).  But I'm sure you'll agree that the power to compel appearence should at least exist.

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V
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Re: Daily Digest - July 22

Actually Ken I would send over Vito. He would be cheaper and more efficient. We could then do away with an entire bureaucracy.

V

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printfaster
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Re: Daily Digest - July 22

An very large number of people every year are killed over sums a lot lower than $1000.  I don't know about y'all, but in these parts, that's still real money.

And the government should do the same?

No.  The government should maintain justice and jail for a small debt is not just.

 

printfaster's picture
printfaster
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Posts: 52
Re: Daily Digest - July 22

An very large number of people every year are killed over sums a lot lower than $1000.  I don't know about y'all, but in these parts, that's still real money.

And the government should do the same?

No.  The government should maintain justice and jail for a small debt is not just.

 

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Vanityfox451
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Re: Daily Digest - July 22 freedocumentaries.org
Mary Ellen wrote:

freedocumentaries.org

good site for free documentaries.

Mary Ellen,

Thankyou for the headup!

There's an excellent selection of documentaries, all in one place and free to watch ...

freedocumentaries.org

~ VF ~

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LogansRun
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Posts: 1444
Re: Daily Digest - July 22 freedocumentaries.org

Wow!  Great Site!  Thanks for bringing it to our attention.  Now I need to find the time to watch all of this stuff!  My wife isn't going to be happy with me....or you MEllen!

Take care.

Vanityfox451 wrote:
Mary Ellen wrote:

freedocumentaries.org

good site for free documentaries.

Mary Ellen,

Thankyou for the headup!

There's an excellent selection of documentaries, all in one place and free to watch ...

freedocumentaries.org

~ VF ~

Vanityfox451's picture
Vanityfox451
Status: Diamond Member (Offline)
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Posts: 1636
Re: Daily Digest - July 22

printfaster,

if there were ever two books I could recommend you read, it would be this one:-

Public Opinion ~ by Walter Lippmann

... and this one:-

Propaganda ~ by Edward L. Bernays

... either, but both would be the ideal ...

~ VF ~ 

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dickey45
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Re: Daily Digest - July 22

I had sold a computer years ago to a lady whose son was in cancer treatment.  She didn't have the money so we drew up a quick lending agreement.  Lo and behold, she quit paying.  We took her to small claims.  She didn't show 2, maybe 3 times.  We won by default.  I tacked on court fees and interest so I didn't really lose money but sure learned a lesson.  We ended up garnishing her wage (I knew where she worked) and got all the money back.  Frankly, there is no way I wanted her arrested.  If that were to happen, she would likely lose her job and would not be able to pay back the loan via garnishment.  Plus, our jails here are over populated so do we really want to add these kinds of crimes to the system?  I realize it is FTA but don't see how that is applicable in a non-criminal matter (more of a contract matter).  I'm no attorney but geez.

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V
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Re: Daily Digest - July 22

dickey

Did the son die or survive?

V

dickey45's picture
dickey45
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Re: Daily Digest - July 22

He lived, I think it was very treatable.

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