so food stamps are about to get cut

newworldafro

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To be fair letting the banks fail would have been disastrous for the poor, more so than many realize.

That said the bailouts were a horrible idea.

T.A.R.P. - Troubled Assets Releif Program is a nice way of saying bailing out financial institutions essentially gambling money through derivatives.

Derivatives are INSURANCE ON ASSETS YOU DO NOT OWN.
The equivalent of someone else buying car insurance for your car, and expecting a payment for an accident. You can't do that anywhere else but with these derivatives. So we (taxpayers) bailed out an activity, that was "just having fun out here" but producing nothing.

It is said that derivatives are in the trillions if not quadrillions ....... and so are you suggesting we bailout these jawnts if the multi-trillion/quadrillion derivatives market crashes.....???

_________________________________________________________________________________________________________________________________________________________________________________________________________________________________

http://moneymorning.com/2013/09/18/heres-what-1-2-quadrillion-looks-like/#


Here's What 1.2 Quadrillion Looks LIke
  • Money Morning Staff Reports - September 18th, 2013
The global derivatives market is big. Really big. So big - and so unregulated - in fact that no one really knows exactly how big it is, but the very best estimates put the notional value at $1.2 quadrillion dollars. That handily beats the entire world's "GDP" of $71.8 trillion. The number is so big that it really defies anything on a human scale. Humans don't do quadrillions of anything - at least not usually.
Or think of it this way: There are about 2 quadrillion stars in the "El Gordo" cluster, the largest cluster of galaxies we've observed so far. The derivatives market is galactic in scope.
Or, consider that there are about 1 quadrillion ants living on Earth. If you put all the ants and all the people into two big piles, they'd be about the same size. $1.2 quadrillion buys every ant on Earth a ride on a crosstown bus.
As fun as these things are to think about, this $1.2 quadrillion matter is not to be taken lightly. The derivatives market is largely unregulated. In fact, it's so unregulated that the U.S. Congress, on the advice of investment banks, made it largely illegal to regulate derivatives.
The
risk in this market is overwhelmingly concentrated in the United States, and it's getting worse. In 2011, a mere four banks held 95.9% of U.S. derivatives. Talk about a bull's-eye.

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newworldafro

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riots?

Talk about a sense of entitlement...They are not cutting food stamps for people who have been on it for even 2 years...we are talking about people who have been on it for decades. The gravy train has to end at some point.

Tell that to the lady who heads New York City Food Bank.................................


http://www.salon.com/2013/10/28/rio...he_same_way_food_stamp_shutdown_looms_friday/

Monday, Oct 28, 2013 11:45 AM CDT
“Riots always begin typically the same way”: Food stamp shutdown looms Friday

The head of the largest food bank says the $5 billion annual cut will take a week of meals off millions' plates

By Josh Eidelson

Food stamp recipients face a massive benefit cut set to kick in when stimulus funds expire Friday. The nationwide cut “is equivalent to about 16 meals a month for a family of three,” according to a Center on Budget and Policy Priorities analysis using the USDA’s “Thrifty Food Plan.” CBPP called the roughly $5 billion annual cut to the Supplemental Nutrition Assistance Program “unprecedented” in “depth and breadth.”
“If you look across the world, riots always begin typically the same way: when people cannot afford to eat food,” Margarette Purvis, the president and CEO of the Food Bank for New York City, told Salon Monday. Purvis said that the looming cut would mean about 76 million meals “that will no longer be on the plates of the poorest families” in NYC alone – a figure that outstrips the total number of meals distributed each year by the Food Bank for New York City, the largest food bank in the country. “There will be an immediate impact,” she said.
“The fact that they’re going to lose what’s basically an entire week’s worth food” each month, said Purvis, “it’s pretty daunting.” She told Salon that while policymakers “are attempting to punish people for being poor,” and “people are comforted by believing that they know that a person has to have done something wrong in order to be poor,” in reality, “I can tell you that more and more folks have more than one job and are still needing help.” (As I reported last week, audio recorded by a McDonald’s worker-activist showed a counselor on an employee hotline encouraging her to sign up for food stamps because it “takes a lot of the pressure off how much money you spend on groceries.”) Purvis added that cutting food stamps was “not even good business sense,” because each dollar of food stamps infuses over $1.70 of spending into the economy.
“We were all told that these cuts for November 1 would not happen,” said Purvis. When “they decided they were going to take from some of the increases to food stamps” to fund First Lady Michelle Obama’s “Let’s Move” program, she told Salon, “We were told, you know, by the president…these cuts will not happen, we won’t get rid of the program. Well guess what? November 1 is around the corner, and no one has restored that money.”
 

newworldafro

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let me ask you a question....how long should people be on food stamps? Assuming they are not sick?

I dont' have answer for that, I just don't like to see millions of people dying or committing violent crimes against me or you because they can't eat. Especially, when you consider what billions of dollars are being spent for......
 

Chris.B

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I dont' have answer for that, I just don't like to see millions of people dying or committing violent crimes against me or you because they can't eat. Especially, when you consider what billions of dollars are being spent for......
2nd Amendment is your right always exercise it
 

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Ayn Rand was summer reading for @DEAD7 , apparently. His schtick is so laughably juvenile and barely worth responding to. Every argument is met with a classic "well, what would Ayn Rand say" type response. :laff:
I'm not a huge Ayn fan, but I agree with her grasp of freedom, liberty. and personal responsibility.

Your comment though is just a way of sidestepping debate and presenting an actual argument backed by evidence. I am more than willing to listen and look at evidence, and have done so, and have admitted when I was wrong...
I'm not so beholden to my ideas that I will ignore empirical evidence, but I will scrutinize it.
If that's seems unreasonable to you then so be it. :manny:
 

Rawtid

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My nephew's mother was at my house yesterday and we started discussing the food stamp cut. She was receiving $16 in stamps and they cut them. So she's going to the office to discuss her case or something.

Meanwhile this bytch RENTS a 55inch television and washer and dryer. She has a car in her mother's name...a fukking Lexus that she can't afford to maintain. Then she bought a fukking dog because it was $200 and it was originally a $500 dog. Tell me why this bytch needs food stamps? She's a financial demon. She needs a healing...not assistance. This is the type of shyt I witness and it heavily influenced my opinion about government assistance. I'm not mad about the cuts AT ALL.
 

Rarely-Wrong Liggins

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My nephew's mother was at my house yesterday and we started discussing the food stamp cut. She was receiving $16 in stamps and they cut them. So she's going to the office to discuss her case or something.

Meanwhile this bytch RENTS a 55inch television and washer and dryer. She has a car in her mother's name...a fukking Lexus that she can't afford to maintain. Then she bought a fukking dog because it was $200 and it was originally a $500 dog. Tell me why this bytch needs food stamps? She's a financial demon. She needs a healing...not assistance. This is the type of shyt I witness and it heavily influenced my opinion about government assistance. I'm not mad about the cuts AT ALL.

Your nephew's mother renting a 55 inch TV necessitates a 5 billion dollar reduction in food stamps? Hmmm, sounds about right. :ehh:


































:comeon:
 
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