complexity-correction-collapse-and-then-reconstruction

[DTOM CA!]

http://kingdomecon.wordpress.com/2011/06/28/complexity-correction-collapse-and-then-reconstruction/

This is a good article but I believe most Politicians and wealthy Americans are to invested in the current system to make the changes required to fix our economy. They like the pork, loop holes, tax breaks and endless spending to much to allow the proper fix. When you look at debtclock.org I do not see how we can ever pay the debt down without defaulting or inflating (by a lot). I put most of the blame on Politicians and the Banking (Financial) industry. Because of the complexity most people do not know how bad we are really in debt. The Federal Reserve wont tell us.

[Ripon83]

Federal reserve just handed banks $4,500,000,000 in a raise on debit card fees. That's a nice take from the little/middle guy and handing it ti the banks we just bailed out. Nice change there from Mr. Hope n Change huh

[thenodnarb]

Federal reserve just handed banks $4,500,000,000 in a raise on debit card fees. That's a nice take from the little/middle guy and handing it ti the banks we just bailed out. Nice change there from Mr. Hope n Change huh

can you explain this a little bit. I heard about the debit card fee thing, but don't know what really happened. Supposedly congress passed a bill that limits CC transactions?

[Ripon83]

They allowed banks to increase the fees charged for an ATM \ debit transactin from .12 cents to .21 cents. My figure of 4.5 billion comes from the statement made on the news there are 50 billion of these transactions a year or they are approaching that number.

50,000,000,000 x .09 = $4.5 billion if my math is right - lots of numbers - I get messed up all the time but I think that is right.

[Californio]

Whats a Debit Card

Only a fool uses one of those

[Turk]

http://kingdomecon.wordpress.com/201...econstruction/

This is a good article but I believe most Politicians and wealthy Americans are to invested in the current system to make the changes required to fix our economy. They like the pork, loop holes, tax breaks and endless spending to much to allow the proper fix. When you look at debtclock.org I do not see how we can ever pay the debt down without defaulting or inflating (by a lot). I put most of the blame on Politicians and the Banking (Financial) industry. Because of the complexity most people do not know how bad we are really in debt. The Federal Reserve wont tell us.

That's why it's time for "We The People" . The big question is have enough been woken up to make a difference ?

[thenodnarb]

They allowed banks to increase the fees charged for an ATM \ debit transactin from .12 cents to .21 cents. My figure of 4.5 billion comes from the statement made on the news there are 50 billion of these transactions a year or they are approaching that number.

50,000,000,000 x .09 = $4.5 billion if my math is right - lots of numbers - I get messed up all the time but I think that is right.

I got fooled my the MSM then. I heard they were limiting transaction fees. and it seemed like they were lowering fees. I assumed that that was why all the rewards programs were going bye-bye. There wasn't enough money to pay for them after this legislation. crap.

[Ripon83]

Yes I heard that take on it too. Limited to .21 vs the .12 cents now. That's why MC and Visa lead the rally today....both were up almost 10% and wht not? They just got raises in the billions with no additional effort.