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Feds Reward Poor Performance, Survey Says

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back2basicz
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Platinum
Re: OMG (And that's NOT a Government Agency!)
back2basicz   8/1/2011 2:54:11 AM
NO RATINGS
Broadway,

Chile,Canada,Singapore and Hong Kong all look like very good options.

There are also some really good options in Europe(the smaller Countries).

I highly recommend Soveriegn Man's Blog in this issue.

Do read

http://www.sovereignman.com/expat/get-your-hands-on-the-governments-playbook

http://www.sovereignman.com

Regards

Ashish.

Broadway
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
Broadway   7/29/2011 3:57:11 PM
NO RATINGS
Ashish, can you recommend some possible backup jurisdictions? I'm at a loss for finding somewhere to move should the USA disintegrate, since most everywhere else will be impacted by the disintegration as well, no?

back2basicz
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
back2basicz   7/29/2011 8:54:47 AM
NO RATINGS
Broadway,

I hope this Silent Majority wakeup and revolt soon before America becomes a Total Banana republic(for better or worse)...

I for one believing in having a Backup plan(a foot in another country/regulatory regime) in case things don't turn out the way we expect them to.

Regards

Ashish,

Broadway
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
Broadway   7/27/2011 8:38:59 PM
NO RATINGS
Ashish, I disagree. I think there are a "silent majority" of responsible Americans--parents and otherwise--who go to work, raise their kids, pay their bills, invest and save ... Eventually these people will be fed up enough to stop the decline. It's happened before and we'll do it again.

back2basicz
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
back2basicz   7/26/2011 12:53:20 PM
NO RATINGS
Street Smart,

Lets just say that you are an exception to the rule here-

"

One of my missions as a parent has been to raise kids who don't feel entitled and who remember that they have to EARN a paycheck (and should save a goodly portion of each one because they shouldn't count on getting a next one!)

"

Most American parents have simply ceded all parenting responsibilities over to TV/College or the Net.

Nobody in America likes being responsible for their actions anymore.Its so much easier to just blame somebody else for the predicament most Americans find themselves in.

"ITS NOT MY FAULT".

Works well upto a point until when the majority starts talking in this fashion.

That's when you realise how badly the system has broken down and is exactly the situation we are in today.

Regards

Ashish.


Street Smart
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
Street Smart   7/26/2011 10:12:37 AM
NO RATINGS
#back2basicz-

Ashish-

I completely agree with your observations, especially about clueless municipal employees, and the role public sector unions are playing in winning the battle and losing the war in this economy.

I think my original point was simply to use my son to illustrate the Beltway Bubble phenomenon--how everything that he takes for granted--the salary, the benefits, the middle class lifestyle that barely exists anywhere else in America has been made possible by his Federal job and how blind those in DC have become to the economic realities of the rest of our country.

One of my missions as a parent has been to raise kids who don't feel entitled and who remember that they have to EARN a paycheck (and should save a goodly portion of each one because they shouldn't count on getting a next one!)

Have I succeeded?  Oh, I hope so, because I think the scenario you describe is breathing down our necks and will become reality quite soon.

Meanwhile, you don't happen to have a single, mid-twenties daughter who works for a hedge fund do you?

back2basicz
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
back2basicz   7/26/2011 9:57:28 AM
NO RATINGS
Broadway,

You are not 100% accurate.

In the aftermath of the 2008 recession a lot of Finance Pros(who dominate the Lower Manhattan area) were let go.

Apart from that,I agree entirely and would like to add one more thing-They both have Job Guaranteed by the State at the expense of the ordinary Taxpayer,who keeps getting ripped off.

There is something else which not many people talk about-Its the Current Tax Structure in America.

Today more than Half of all American Citizens pay absolutely No Federal Income Tax whatsover and close to Half are dependent on The various Govts[Federal, State,City,etc] for Income.This is extremely unrealistic and unsustainable.

And shows how much the Govt has started to interfere in the affairs of ordinary Americans.

This reflects the Breakdown of Govt structure(where the Govt knows no Limits);which you very clearly talked about in your post here.

Regards

Ashish.

back2basicz
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
back2basicz   7/26/2011 9:51:31 AM
NO RATINGS
StreetSmart,

Nobody told me we were running a Match-Making service here!!![Just kidding]...

As for the Pay-cut.Here is the typical reaction of most Govt.Employees at the prospect of a pay-cut-They go on strike (after first throwing an apopoleptic fit).

Frankly speaking I won't be surprised if this is your son's reaction.

Inspite of the fact that most  Govt. employees are paid much-much more[After taking into account; Benefits,Job-Guarantees and Guaranteed Pensions] than the Private Sector.

The prospect of NO paycheck(which you also very clearly mentioned in your post) is becoming more and more visible(as a prospect) for most State Govt Employees all across America.I have lost count of the number of instances where Govt Employees have to be fired because the stupid Unions won't budge on the issue of Pay-cuts or removal of COLAs[Cost of Living Adjustments on Pensions] inspite of the fact that there really is No Money left in the Budget to pay their bloated salaries and pensions thanks to a severe Depression which has cut not just Sales Tax and Income Tax revenues but Property Taxes as well[The Two major sources of Income for most State Govts]

Regards

Ashish.

Street Smart
User Rank
Platinum
Re: OMG (And that's NOT a Government Agency!)
Street Smart   7/26/2011 7:36:20 AM
NO RATINGS
#erierunner, just to clarify, my son is not a saint in the financial planning department and we as his parents don't walk on water either.

And we have (gasp!) actually been accused of being heavy-handed, pontificating, financial fuddy-duddies over the years--though his exact words were more colorful and less printable!

But to return to the theme of #Noreen's original post about the disengaged Federal workers, I think ironically one of the reasons that my son has turned into such a terrific saver is that he works EXTREMELY hard and ADORES his job.  He literally has very little free time in which to spend his money.

Don't know if this situation will last; perhaps he will burn out and start heading to the racetrack or slumping in front of TV, but right now this is a kid who literally doesn't have cable because he has no time to watch it!

We'll see, but I'm hopeful--about the prospects of ONE Federal employee at least!

erierunner
User Rank
Iron
Re: OMG (And that's NOT a Government Agency!)
erierunner   7/26/2011 12:50:52 AM
NO RATINGS
Its great that your son has been responsible with finances. I would not be afraid to bet my own paycheck that he is in the high minority. A 10% cut would most likely destroy many in that area. Many of them are the ones still buying homes at 30% above value.

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