Borrowing to pay debt a sad story in Ogdensburg

Ogdensburg has all the negative stuff that the report says BUT It also has a rich history that NO ONE is exploring or teaching.
For that matter, NO ONE is trying to preserve it or exploit it..
Oh sure the city has hired a consulting firm, but what they want and what the city has money for, are 2 way different things.
First thing I'd do is bulldoxe that dead whale of
a of a mall and get traffic flowing like it should .
This included a new bridge to the "other" side of O-burg.
Next I'd try to get investor to infuse money to rebuild these historic buildings we have left.
Then maybe, try a tourist promoting website. Get local business leaders involved. Maybe a round table type of discussions.
But This is too small of website to comment more.

Crumbling tax base; corruption by local social and political elite; together with cronyism, nepotism, and local particularism; stir in a little selective enforcement, and you have Ogdensburg.

Richard Fisher wrote:

Crumbling tax base; corruption by local social and political elite; together with cronyism, nepotism, and local particularism; stir in a little selective enforcement, and you have Ogdensburg.

Ogdensburg is just a microeconomy in the macro picture.

Gov'ts (not just the US, here too in Harperland) are resorting to the weapon of last resort, called "quantitative easy" to "ease" the financial despair of Wall Street and Bay Street and any other unregulated fraud kings that have brought about REAL despair on a country's real inherant wealth, it's workers.

IE, these "governments" are CREATING AND DUMPING their worthless paper so they can prop up the Wall Street fraud, primarily their fatcat banker friends in an attempt to FORCE "MONEY" THROUGH A SYSTEM EFFECTIVELY PUT IN LOCKDOWN BY THE SAME BANKERS, BECAUSE THEY GOT THEMSELVES IN TROUBLE BY SELLING A FRAUD ON THE MARKETS.

Not billions but TRILLIONS.

Rep Alan Grayson call the inspector general of the "fed" reserve" out on the carpet and exposes her lawyered ass out about 9 trillion of "off banlance sheet" transfers.

http://www.youtube.com/watch...

The end result of this "creation" of "money"

YOU and ME, the peons will pay this "money" back with something TANGIBLE, our work and increased taxes, just so some "gov't" backed bankers stay healthy.

The end result of this "creation" of money?

It ends up destroying currencies.

Published: Wednesday, May 20, 2009

The U.S. dollar's day of reckoning may be inching closer as its status as a safe-haven currency fades with every uptick in stocks and commodities and its potential risks - debt and inflation - are brought under a harsher spotlight.
Ashraf Laidi, chief market strategist at CMC Markets, said Wednesday a "serious case of dollar damage" was underway.
"We long warned about the day of reckoning for the dollar emerging at the next economic recovery," Mr. Laidi said in a note.

Mr. Laidi said economic recovery would weigh on the greenback as real demand for commodities, coupled with improved risk appetite, caused investors to seek higher yields in emerging markets and commodity currencies. This would draw investment away from the U.S. dollar, which was dragged down by growing debt and the risk quantitative easing would eventually spark a surge in inflation.

The U.S. dollar slid against most major currencies Wednesday, hitting a five-month low of US$1.3775 against the euro and pushing the Canadian dollar up US1.21¢ to a seven-month high of US87.69¢.

READ MORE -- http://www.financialpost.com/story.html...

The biggest problem I see is the Gov't wanting to back all these "Too Big To Fail Corporations".
Even with Gov't backing they are failing.
It's going to cost you and me 15Billion more even after GM files for bankruptcy.
What gives there???
WE DO!!And give and Give..
Let them fail PERIOD.
If they were "Too Big" that's the name of the game.
My Co. fails, who's bailing me out??
I may not hire 50,000 people around the world, but my Co. is just as important to my towns economy.
We're talking percentages here that's all.

What the Gov't needs to do is make any bank or company that wants Gov't bailout, CEO's CFO's and any director that makes any financial decision, to invest all their own capital back into the Company first.
If they don't do it, remove them.
All that means is, they KNOW the Co. is going to fail.
If they do it, then they have faith the Co. will turn around.
The Stock market will see they Co's heads investing back in and Wall Street may follow.

Richard Fisher wrote:

Crumbling tax base; corruption by local social and political elite; together with cronyism, nepotism, and local particularism; stir in a little selective enforcement, and you have Ogdensburg.

Social and Political Elite???? I thought Augsburys were gone??
There's only 82 people in Oburg making over 150,000 plus.
That isn't much these days, although it is in Oburg where the cheapest house is $10,000
I thought there were no more Clicks in O-burg.

Who might you be referring to???? HA.

Steve isn't selective is he???

DUHbary wrote:

The biggest problem I see is the Gov't wanting to back all these "Too Big To Fail Corporations".
Even with Gov't backing they are failing.
It's going to cost you and me 15Billion more even after GM files for bankruptcy.
What gives there???
WE DO!!And give and Give..
Let them fail PERIOD.
If they were "Too Big" that's the name of the game.
My Co. fails, who's bailing me out??
I may not hire 50,000 people around the world, but my Co. is just as important to my towns economy.
We're talking percentages here that's all.
What the Gov't needs to do is make any bank or company that wants Gov't bailout, CEO's CFO's and any director that makes any financial decision, to invest all their own capital back into the Company first.
If they don't do it, remove them.
All that means is, they KNOW the Co. is going to fail.
If they do it, then they have faith the Co. will turn around.
The Stock market will see they Co's heads investing back in and Wall Street may follow.

I love the word "capital".

That used to be if a company made a profit they had "capital". If a company wanted to expand they got investors, and paid a dividend, that was "capital". Now it's they (the banks) are getting "recapitalized" because they sold and dealt the BIGGEST FRAUD ON THE FACE OF THE EARTH, DERIVATIVES...

And they are now being "recapitalized" by the peons to buy their fraud.

A simple insurance company exposes what a ponzi scheme fraud this is. They "sell" you an insurance policy for 100,000 and you pay premiums at 1000/year. It would take you 100 years to pay for that payout. So they get 5000 more to "buy in". However if 2500 of those 5000 have to be paid out in one given year, the "insurance company" defaults. They are PONZI SCHEMES. As in what happened in the Lehman Bros and Bear Stearns and AIG frauds. They "INSURED" debt or mortgages and plied them as something WORTH SOMETHING on the stock markets. But their very own BANKER friends in all their greed and CRIMINAL BEHAVIOUR brought it all down by GIVING OUT LOANS THEY HAD NO BUSINESS GIVING OUT.

Its' not the peon that applied for the loan at fault here, its the SUPPOSED FINANCIAL WIZARDS, the mortgage brokers and loans officers of the banks who should have DENIED at least 60-70% of the loans but didn't so they could play the DERIVATIVE GAME on the markets.

And succeeded in DESTROYING millions of people worldwide, and then get bailed out with money that will have to be paid back ultimately by US lowly untermenschen under the hammer of gov't collection agencies.

If anyone believes that the banks have been totally FORTHRIGHT with all their "legacy assets" (BAD LOANS) and will pay everything back to a BANK (Central) they need their head examined. They just need to be "recapitalized" so they can continue on in their ponzi scheme of getting more customers to cover any future "bad debt" they incur.

I thought this post was about Oburg? There's a new click in SLC, and in Oburg; it is very powerful.

Who's head of that?
realtor? Dentist?
That why I couldn't get economic development money and some did???

You seem like an intelligent fellow so I won't sledge-hammer the obvious--just look at the growth of govt bureaucracy in SLC; and then there's the entitlement class

Oburg is mired in a mentality- "We're moving forward." Too bad someone didn't have a compass--the directionals for these civil servants is so bad that they couldn't find the parking lot at city hall

Parking lot?... ALL of O-burg is a parking lot.

workin at the car wash . lol

I only know 1 Big Joe.
He was a snow cone vendor so I know he's not working at the car wash......HAHA
SNOW-CONE-JOE

You mean fat joe, the beer guzzling PE teacher who weighs 400 lbs. Ha Ha! LOL

If there was a problem with his 400lbs and being a PE teacher, wouldn't he be gone???
Saying his weigh is an issue brings me to think you are a moron
Considering he has been a PE teacher for many years, he probably taught your mindless punkass children too.

Are you blind? cant you see the shifting sands? Ogdensberg is was dispensable just like all towns who support industry.

Drink and eat by example for public school children, mindless and punkass notwithstanding

He can still run rings around you A-hole

Very doubtful, but as the saying goes, opinions vary, Ha,Ha

tippy toe Joe???