From the Globe and Mail:
"the emirate revealed this week it was asking for a six-month reprieve on paying its bills."
I say, "No problem, Dubai. We can work together on this.".
First of all, you can have six months with no payments on your $60 billion debt.
There will be a 5% administrative fee of $3 billion dollars.
Collection agents will be monitoring you for the next six months, calling you at all hours of the night to remind you that you're a dead beat.
Your interest rate will be 28.5% for the next six months, but as long as you pay back all $60 billion on the billing date (please allow three days for electronic transactions) you will only have to pay the administrative fee.
Failure to ensure that we receive all $60 billion by the due date will result in a charge of six months of 28.5% interest on the entire $60 billion (not just the unpaid portion), compounded monthly. The interest rate on any unpaid portion after that date will be 35.7%, compounded daily, in addition to a monthly 5% administrative fee on any unpaid portion.
Like I said: I'm sure we can work this out in a fair manner.
Showing posts with label Debt. Show all posts
Showing posts with label Debt. Show all posts
Friday, November 27, 2009
Thursday, May 28, 2009
All the Bad Things I've Ever Thought About Conservatives
All of them are coming through.
I've always believed that Conservatives create deficits in order to force austerity on the population, reduce services and get people to expect less for their taxes. The goal is to get poor and middle class people to hate taxes as much as the rich do, even though poor and middle class generally benefit from our level of taxation.
And while they're doing this - racking up record deficits - they sell off public institutions to make the budget appear balanced while ensuring future austerity via a lack of public assets.
As well, I've understood the strategy of mismanaging public institutions on purpose in order to denigrate them. Remember Mike Harris and his Tories in Ontario, slowly destroying our public education system and health care system so that they could shrug their shoulder and say, "What do you expect from government? Government sucks. Let's do private schools instead."
And now we see this happening in our federal government.
You remember that reactor that produces medical isotopes for the entire world? The one run by AECL? The one whose shutdown they blamed on "Liberal appointee" Linda Keen, whom they subsequently fire?
Well, the Conservatives are in charge now, having ordered the reactor activated over the safety concerns of the people charged with protecting our health. And the reactor is, as one would expect, malfunctioning and shut down with no prospect of a quick turn around.
So what's the Conservative solution?
Let's sell the reactor to a private organization.
I kid you not. Put the world's major source of medical isotopes in the hands of the profit-driven private sector. Give a private company a virtual monopoly on our health. Claim the sale price against the deficit so it doesn't look so bad. Hide the perpetual cost of this move in the distant future of rising health care costs.
It accomplishes everything the Conservatives could ever want: rising deficit; austerity measures; weakening public institutions; private profit. Some things just never, ever change.
I've always believed that Conservatives create deficits in order to force austerity on the population, reduce services and get people to expect less for their taxes. The goal is to get poor and middle class people to hate taxes as much as the rich do, even though poor and middle class generally benefit from our level of taxation.
And while they're doing this - racking up record deficits - they sell off public institutions to make the budget appear balanced while ensuring future austerity via a lack of public assets.
As well, I've understood the strategy of mismanaging public institutions on purpose in order to denigrate them. Remember Mike Harris and his Tories in Ontario, slowly destroying our public education system and health care system so that they could shrug their shoulder and say, "What do you expect from government? Government sucks. Let's do private schools instead."
And now we see this happening in our federal government.
You remember that reactor that produces medical isotopes for the entire world? The one run by AECL? The one whose shutdown they blamed on "Liberal appointee" Linda Keen, whom they subsequently fire?
Well, the Conservatives are in charge now, having ordered the reactor activated over the safety concerns of the people charged with protecting our health. And the reactor is, as one would expect, malfunctioning and shut down with no prospect of a quick turn around.
So what's the Conservative solution?
Let's sell the reactor to a private organization.
I kid you not. Put the world's major source of medical isotopes in the hands of the profit-driven private sector. Give a private company a virtual monopoly on our health. Claim the sale price against the deficit so it doesn't look so bad. Hide the perpetual cost of this move in the distant future of rising health care costs.
It accomplishes everything the Conservatives could ever want: rising deficit; austerity measures; weakening public institutions; private profit. Some things just never, ever change.
Thursday, October 16, 2008
Colour Me Shocked: Deficits
They're going to blame the economy, naturally, and that's probably fair enough. But we're still looking at four years of deficits.
But still: Flaherty = Deficits.
I don't see why TD's chief economist said the following:
Really? I think we had fifteen years of straight deficits in Ontario, if you count from when Bob Rae began intentionally destroying the NDP to when we finally booted the Progressive "Conservatives" out of office.
What's four years?
They've already had to cancel a couple of military vessels and an arctic sovereignty protecting icebreaker. What will they cancel next? The responsible thing might even be going in to deficit. At that point, they're as screwed as McGuinty having to break his no-tax-increase promise when faced with the PC deficit he took over.
Keep your promise or do what's right?
Best of luck, chuckleheads.
But still: Flaherty = Deficits.
I don't see why TD's chief economist said the following:
“Many economists have said it's acceptable to run a modest deficit for a short period of time, but there's virtually nobody on record as saying it's acceptable to run deficits for many years in a row,” Mr. Drummond said.
Really? I think we had fifteen years of straight deficits in Ontario, if you count from when Bob Rae began intentionally destroying the NDP to when we finally booted the Progressive "Conservatives" out of office.
What's four years?
They've already had to cancel a couple of military vessels and an arctic sovereignty protecting icebreaker. What will they cancel next? The responsible thing might even be going in to deficit. At that point, they're as screwed as McGuinty having to break his no-tax-increase promise when faced with the PC deficit he took over.
Keep your promise or do what's right?
Best of luck, chuckleheads.
Saturday, September 27, 2008
Economic Crisis Prevents Stupidity
That's what the headline should read. Instead they entitled it: "A nation of debtors".
Indeed. American consumers suddenly can't buy as much as they used to because - pay attention here - "Consumers are feeling the pinch as lenders tighten credit card limits and home equity lines of credit"
Who in their right mind runs credit card debt? I can understand this happening in some kind of emergency but it seems to be a way of life for a certain large chunk of the population that prefers to live way beyond its means - and via credit card interest ends up in at an ever shrinking level of "means".
If one of the results of this whole mess is that the general population realizes what a crazy, ignorant stupid thing it is to willfully pile up credit card debt for the sake of having the coloured iPod, the bolted down truck bed and the absolute latest Intel processor ... well, then, at least something good will have come of it.
Once we free ourselves of slavery to this kind of debt, we can work on controlling the corporations that rule us through our indebtedness and take steps to force them to improve our society, rather than improve themselves at our expense.
Indeed. American consumers suddenly can't buy as much as they used to because - pay attention here - "Consumers are feeling the pinch as lenders tighten credit card limits and home equity lines of credit"
Who in their right mind runs credit card debt? I can understand this happening in some kind of emergency but it seems to be a way of life for a certain large chunk of the population that prefers to live way beyond its means - and via credit card interest ends up in at an ever shrinking level of "means".
If one of the results of this whole mess is that the general population realizes what a crazy, ignorant stupid thing it is to willfully pile up credit card debt for the sake of having the coloured iPod, the bolted down truck bed and the absolute latest Intel processor ... well, then, at least something good will have come of it.
Once we free ourselves of slavery to this kind of debt, we can work on controlling the corporations that rule us through our indebtedness and take steps to force them to improve our society, rather than improve themselves at our expense.
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