Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

Pensions and Unemployment Benefits

Discussions about the economic and financial ramifications of PEAK OIL

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Wed 25 Dec 2024, 14:31:02

theluckycountry wrote:A nice picture isn't it. A smartly dressed your woman explaining to a well off older woman the ins and outs of pension plans. "It's all so confusing, but my advisor is up to date and I trust her judgement"

I knew a similarly smartly dressed young woman back in the 00's. She ran a wealth management business that took hundreds of millions of old people's dollars and invested them in mezzanine funds, which crashed in the GFC taking all those life savings with them.


So not only are you an admitted uneducated subject to the Crown because your country can't fight its way out of a wet paper bag, but you KNOW criminals of this caliber? How did you know her? It certainly had not nothing to do your understanding of maths, compound interest, investing fundamentals, or idiot PM advice you learned from the peak oilers of yesteryear.

You were mowing her lawn? Digging a ditch for her irrigation system perhaps? With a shovel? That sounds like about the construction equivalent of your education level.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Thu 26 Dec 2024, 16:49:52

looks like someone had no friends or family to visit on xmas day. that's sad :cry:
I went up to Brisbane to visit the family, a great day for a ride too, perfect temperature and my new hayabusa takes the highway like a champion.
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Thu 26 Dec 2024, 19:02:25

theluckycountry wrote:looks like someone had no friends or family to visit on xmas day. that's sad :cry:

You have my sympathies. I spent mine with wife and both kids. At my age nowadays, and considering who is still above ground, family comes to me, as opposed to the other way around.

I'm happy you had someone to go see...and maybe fix their toilets while you were there. We only get so many days above ground, and enjoying as many of them as we can with family seems like a good way to spend the day...even without their need for your professional skills.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Fri 27 Dec 2024, 23:12:31

When Frank Capra’s “It’s a Wonderful Life” was being filmed in 1945, just as the Second World War was closing and a few years before the Cold War was heating up, the FBI investigated it for its supposed anti-capitalist themes. A memo said:

“With regard to the picture It’s a Wonderful Life, [redacted] stated in substance that the film represented rather obvious attempts to discredit bankers by casting Lionel Barrymore as a ‘scrooge-type’ so that he would be the most hated man in the picture. This, according to these sources, is a common trick used by Communists. [In] addition, [redacted] stated that, in his opinion, this picture deliberately maligned the upper class, attempting to show the people who had money were mean and despicable characters.”
https://www.theepochtimes.com/opinion/t ... =ZeroHedge

Image

"this picture deliberately maligned the upper class, attempting to show the people who had money were mean and despicable characters."

Upper class? Well of course, they exist. Despicable? Well naturally, just look at the likes of Bill Gates and Zuckerberg, they are willing to step on anyone to get what they want. And they are the "good cop" public faces of the upper-class, behind them is the likes of the The Cargill-MacMillan family that owns Cargill, America's largest private company with revenues of $177 billion. They are the ones that dine on sumptuous fresh food every day while they feed you toxic processed muck in tins and cardboard boxes. And then there are the Big Pharma families that were exposed in "Dope Sick". And on and on it goes, tens of thousands of super-wealthy upper-class families with their fingers in every pie, running all the banks, and pension funds of course.

And this is at the root of the pension problem. When people look at their pension plan they don't consider the upper class types who control it, they think only of their "Money" and have an innate trust that whoever is running the show has their best interests at heart. After all isn't that what the TV set told them? There was no mention on TV of their money being directed in companies and real estate of the upper-class so that the upper-class, not them, would be enriched.

I remember 20 odd years ago when the big banks in Australia all sold their commercial real estate to our private pension funds. It was near the top of the commercial RE boom and they got fantastic prices for their old concrete buildings. The deal was they would lease them back, and they did, for a while... But so many branches and city centers have closed up shop now it's not funny and many of those "Investments" now sit empty. Also the big inner city ones are reaching the end of their design lives, as well as being full of vacancies due to the GFC and covid. It was a bad deal, but not for the upper-classes who owned them.

But the average person in the street seems resigned to getting ripped off these days, they are choked in debt and their homes are monuments to TV renovation shows. They buy new cars that are worse than the 8 year old ones they trade in as far as reliability goes and neither will they complain too much when 50% or more of their old age pension gets stolen. It's the Slave mindset, the whipped dog mindset. And there is nothing to be done for it either quite frankly, because there isn't enough wealth left on the planet to drag them back up into another episode of the affluent middle class. Instead they are given Potemkin wealth, digital stock entries on screens, digital coins in a digital wallet. These cost nothing but a few electrons zooming across the internet and they give the masses the day to day feeling that they are sharing in the wealth too. But it isn't the vast estates, the private jets and yachts of the upper-class. it isn't producing farmland or vast mineral deposits either. It's just a placebo, that's all that's left to go around.
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Sat 28 Dec 2024, 15:42:37

theluckycountry wrote:But the average person in the street seems resigned to getting ripped off these days, they are choked in debt and their homes are monuments to TV renovation shows.


Unfortunate that Australia is in such dire straights. Does the average person in Australia lack a high school education like you? That would explain this situation obviously. Good thing you got yours while ditch diggers and folks who can fix toilets were still in demand, way back when.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby yellowcanoe » Sat 28 Dec 2024, 18:02:27

AdamB wrote:
theluckycountry wrote:But the average person in the street seems resigned to getting ripped off these days, they are choked in debt and their homes are monuments to TV renovation shows.


Unfortunate that Australia is in such dire straights. Does the average person in Australia lack a high school education like you? That would explain this situation obviously. Good thing you got yours while ditch diggers and folks who can fix toilets were still in demand, way back when.


Australia has a higher per capita income and lower debt per capita than Canada so they must be doing something right!
"new housing construction" is spelled h-a-b-i-t-a-t d-e-s-t-r-u-c-t-i-o-n.
yellowcanoe
Tar Sands
Tar Sands
 
Posts: 965
Joined: Fri 15 Nov 2013, 14:42:27
Location: Ottawa, Canada

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Sun 29 Dec 2024, 03:45:06

yellowcanoe wrote:Australia has a higher per capita income and lower debt per capita than Canada so they must be doing something right!


We're not pissing all our wealth away on wars and a greedy medical system. The two biggest corporation blocks on the planet!
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Mon 30 Dec 2024, 22:09:03

Securitization is the action of pooling together cash flows from debt and selling it to third parties as securities. The securitization of credit cards began in the late 1980s as banks looked for new funding sources for credit cards.


Who buys this junk? All the usual suspects: pension funds, insurers, sovereign wealth funds, hedge funds and individuals.

US Credit Card Defaults Soar To Crisis Highs As Inflation Storm Crushes Working-Poor
The party is long over for the bottom third of US consumers, as maxed-out credit cards and depleted personal savings have pushed credit card loan defaults to their highest level since the 2008 financial crisis.
Financial Times cited new data from BankRegData revealing that credit card companies wrote off $46 billion in "seriously delinquent loan" balances in the first nine months of the year—an alarming 50% increase from the same period last year and the highest level in 14 years. US credit debt recently surpassed $1 trillion and continues to expand rapidly. Making matters worse, annual percentage rates (APRs) on credit card debt have hit record highs, compounding the financial misery for cash-strapped consumers'.
https://www.ft.com/content/c755a34d-eb9 ... nts-anchor
https://www.zerohedge.com/markets/us-cr ... rking-poor

Do we think this situation is going to improve? Not without massive interest rate cuts. Current federal funds rate is 4.25% and it needs to go down to ZERO to fix this one :P

Image
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Mon 30 Dec 2024, 23:48:13

yellowcanoe wrote:
AdamB wrote:
theluckycountry wrote:But the average person in the street seems resigned to getting ripped off these days, they are choked in debt and their homes are monuments to TV renovation shows.


Unfortunate that Australia is in such dire straights. Does the average person in Australia lack a high school education like you? That would explain this situation obviously. Good thing you got yours while ditch diggers and folks who can fix toilets were still in demand, way back when.


Australia has a higher per capita income and lower debt per capita than Canada so they must be doing something right!


Canada gained independence from the Crown in like 1931? Thereby proving Canadians have balls and brains and aren't in any way the kind of toadies that are generaly left in the Commonwealth, including the former prison island. So the former prison island still gets extra bennys for bowing their heads in deference to the King and all, lacking the brains and balls of the Canadians. So I' score that one for Canadians based on their fortitude to be free, versus the descendants of criminals currently in the process of happily being a mining colony for the Chinese.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Tue 31 Dec 2024, 09:10:03

What's your CC debt adam, as big as your wife's :)
Why didn't you just learn to live within your means? Were you trying to impress people you don't like by spending money you don't have, or was just it just basic gullibility? "Oh look! The bank is giving away free money"
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Thu 08 May 2025, 11:12:22

theluckycountry wrote:What's your CC debt adam, as big as your wife's :)


Ummm.no. What idiot idea struck you that this might be the case? Currently I have a car rental on one, from a recent walkabout through the American MidWest, and another for a reservation for a trip back East in a couple weeks for a funeral. And I think reservations for a couple hotel nights.

Isn't that what they are supposed to be used for? Like, making reservations and stuff? And then you pay off the travel over the next paycheck or two? Sounds like idiots like you are familiar with something different, to even be speculating on how others use credit cards.

Don't get me wrong, I've had moments where I was cursing and sweating because some unexpected expense caused me to use one unexpectedly, but that is just life sometimes when raising a family.

The wife doesn't carry any, because we were a single earner family until the kids were all out in college. Then some extra cash came in handy, nothing you'd be familiar with, tuition at top colleges, bachelor and master degrees for both, professional careers etc etc, they were raised right so by the time they were 10 they could spot idiots like you in a crowd, the instant you opened your mouth and said the kind of drivel you normally say.

"Let me tell you about this here conventional oil.....but please don't ask me to pick from a list of global oils to tell you which ones are this mythical beast! Because they didn't teach us how to pick from anything other than a menu when I was in ditch digging school at age 12!" :lol:
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Fri 09 May 2025, 00:38:20

Yes, it's sad alright adam, you being degenerate White trash in a nation taken over by Blacks and South Americans. Now you know how the British felt 80 years ago.

Meanwhile in Australia we are still doing fine. Will probably see the coming depression out ok too. What with our minerals and energy resources being in such high demand. Thankfully we don't have to worry about defense, the US taxpayer provides that :P

Thanks Donald.

Image
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Fri 09 May 2025, 09:17:19

theluckycountry wrote:Yes, it's sad alright adam, you being degenerate White trash in a nation taken over by Blacks and South Americans. Now you know how the British felt 80 years ago.


So while you have tended to stay away from repeating your support of Nazi principles and the good Adolf did for his country, your general racist attitudes are starting to ooze out more often.

Certainly I am no more degenerate white trash than you are a high school graduate. And I don't see any more "taken over" than you are being taken over by the aborigines. I see immigration issues here in America, yes, but as far as the British, you just stay on your knees like good little toadies for the King and try not to pretend that other nations managed to throw off that yoke centuries ago. You can't even imagine what it would be like to not have the teat of the Crown to suckle at. Enjoy being ruled, and don't forget, you aren't allowed to even have weapons to defend yourselves because deep down you like being on your knees for the King. Gives you warm fuzzy feelings, lets you sleep at night.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Sat 10 May 2025, 09:17:42

I wonder if you ever posted up anything of value on this forum adam? Or was all just dribble, morphing into hatred now, hatred for anyone who is living a better lifestyle than you? Back when I first came here, and read your comments, I quickly saw that they were all lapdog, as you followed kub around the EV and alternate energy threads wagging your tail. I serious doubt you have ever had an original thought.
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Sat 10 May 2025, 09:36:21

HMAS Stirling in Western Australia has welcomed the arrival of the US Virginia Class submarine USS Minnesota, marking the first of several planned visits by US nuclear-powered submarines to Australia in 2025... “This port visit follows the recent submarine tendered maintenance period at HMAS Stirling, which was the first time Australians directly participated in the maintenance of a US nuclear-powered submarine in Australia.”

These ongoing port visits are an essential step in preparing for the establishment of Submarine Rotational Force - West at HMAS Stirling, set to commence as early as 2027. This initiative will see one UK Astute Class submarine and up to four US Virginia Class submarines maintaining a rotational presence at the base.
https://www.defenceconnect.com.au/naval ... a-for-2025

Naval, Air, and Boots on the ground in Darwin, we're covered and can get on with the serious business of hosting BBQs for our mates. Steaks, Jack Daniels and smooth roads, what else could the inhabitants of a 1st world nation want. New motorcycles I suppose? And holidays by the beach, we are surrounded by one big beach, that's what keeps the undesirables out!

Image
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Sat 10 May 2025, 11:36:48

theluckycountry wrote:I wonder if you ever posted up anything of value on this forum adam?

Of course I did. I had most of it erased during the years of Monte as moderator. You can imagine, knowing back then why peak oil wasn't a thing was not a popular viewpoint. Like you being a neoNazi...hard to get a fair shake after admitting that and tihnking it was a plus.

Dennis and I had some interesting technical conversations of value...but someone who doesn't can't even pick "conventional" from a list wouldn't understand them without a brain transplant.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby AdamB » Sat 10 May 2025, 11:39:02

theluckycountry wrote:Naval, Air, and Boots on the ground in Darwin, we're covered and can get on with the serious business of hosting BBQs for our mates. Steaks, Jack Daniels and smooth roads, what else could the inhabitants of a 1st world nation want.


Ineed. Good thing First World nations still have lackey 2nd and 3rd world countries to visit to do these things at when they aren't doing them at home. Plus your women are always looking fintod some owners of quality DNA when the alternative is neoNazis cretins like you.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
User avatar
AdamB
Volunteer
Volunteer
 
Posts: 9700
Joined: Mon 28 Dec 2015, 17:10:26

Re: Pensions and Unemployment Benefits

Unread postby theluckycountry » Sat 10 May 2025, 19:12:03

Earlier this month, Spain and Portugal experienced the worst blackout in their history, cutting off millions from their money. No ATMs. No bank access. Just stranded citizens realizing how fragile their financial freedom truly is. But here’s the twist: Spain’s new cash withdrawal laws now require a 24-hour notice for anything over €3,000 and a 72-hour wait for €100,000 or more. Control disguised as "regulation."

"Cash is freedom—and governments don’t want freedom. They want control."

Professor Daniel Lal calls it a “warning to the world.” A government-led war on cash, paving the way for the digital euro—a currency that, according to the ECB, would still function even during blackouts. Ask yourself: Why would they design a digital currency to work without power? "The blackout left everyone defenseless...a taste of what’s to come." What happened in Spain isn’t just a local crisis—it’s a blueprint for global financial control. When the lights go out, your money goes with it. And this time, there won’t be a switch to turn it back on.


It's an interesting question, I could see ways around it though, in the short term. Paying with a mobile device is ubiquitous now so what's preventing the installation of a secure app that allows you to transact when the powers down with a retailer who has a similar self-powered device? Both devices record the transaction and you phone's app is debited, when next you go online the central authority updates your account. Obviously there would be limits on such offline transactions but they would work in a similar way to the old CC system where the card's debit was recorded on a paper slip for later transfer to the bank.

Of course a system such a BTC wouldn't work with this due to the anonymity factor, the transaction has to be verified globally. It's one of BTC's many weak points but it could be got around if your tokens are on an exchange and you have relinquished control of your keys. But that defeats the whole purpose of the so called peer-peer system and leaves you a prey to the Sam Bankman Frieds' of this world. "Most Bitcoin transactions take 10 to 60 minutes. Network congestion and low fees are the most common reasons for delays." Low fees, but still fees, remember that. With each halving the miners that verify the transactions are less and less incentivized to do the work. After all, they are paying the electricity bill, and as the ledger grows so does the bill.

There you go adam, you learned something today. Aren't you glad I'm here to educate your dull cow brain :wink:
The last one to leave this forum please remember to put Adam_B out and turn off the lights.
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 3656
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Previous

Return to Economics & Finance

Who is online

Users browsing this forum: No registered users and 6 guests