Archived posting to the Leica Users Group, 2011/03/13

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Subject: [Leica] IMGS: check out Keith Wessel's photographs
From: red735i at earthlink.net (Frank Filippone)
Date: Sun, 13 Mar 2011 16:43:01 -0700
References: <38C7FB98-0C4A-4D57-BF3E-AF6432C7F390@mac.com> <4D798495.6010704@panix.com> <F1C731CE-FC27-45CA-B521-4DC41AEC8698@mac.com> <444198.62728.qm@web86707.mail.ird.yahoo.com> <1B6C17B8-E719-4380-9ADC-F217B6F687CE@mac.com> <946558.92566.qm@web86704.mail.ird.yahoo.com> <7CEC6AEC-6104-42A0-BAA1-195CABF7EDD2@mac.com> <4D7BC831.6070304@panix.com> <CC69A396-A9C0-4E48-B110-ED5DC5C852B9@mac.com> <44547247-2CCF-416B-908F-1EF3A6B95574@embarqmail.com> <027401cbe11b$8a2f66c0$9e8e3440$@earthlink.net> <1DCCE249-C56A-458C-BDCB-32365DF2EFB9@mac.com>

Actually, yes you go ahead and build that school..... ... you float a
bond....at least that is what the politicians do right now.....

Anyway, it is not a first time event.... if the question were.....  "Assume
we agreeD to REPLACE AN EXISTING  school for our kids and hire MORE teachers
to put into it."
And we have no money coming into the coffers......
We can decide to make the tough decision to NOT build the new school until
fiscal position allow us to do it... or we float a bond.....

The problem with bonds is they garner interest ( we have no money.....) and
put off the inevitable repayment.... inevitable being the operative
word.....

Don't spend what you don't have......and if you find yourself suddenly in
the position of not having, then don't spend what you expected to spend..
cut back.....

Then go find a new source of revenue... second job, raise taxes, etc......


The LA Times had an article today about the Governor ( we got a new one
too!).... is planning to cut new forms of redevelopment, but would support
existing programs that already have bonds set against them.  ( Redevelopment
is based upon loans.  Payback is generated by selling the improvements or by
taxes and employment generated by the fruit of those projects).  So what did
the local municipalities do?  Went out and got $700M in loans ( bonds) in
the first 2 months year.... last YEAR they only took out $1.2B in new
bonds.....so they could beat the Governor's coming plans....  BTW, the
average ( I think it was an average)  interest on these bonds was 7%.  Try
getting 7% at your local Savings bank......

Bonds are a danger.....but then again, so are politicians.....

Frank Filippone
Red735i at earthlink.net


-----Original Message-----
From: lug-bounces+red735i=earthlink.net at leica-users.org
[mailto:lug-bounces+red735i=earthlink.net at leica-users.org] On Behalf Of
George Lottermoser
Sent: Sunday, March 13, 2011 4:16 PM
To: Leica Users Group
Subject: Re: [Leica] IMGS: check out Keith Wessel's photographs


On Mar 12, 2011, at 7:11 PM, Frank Filippone wrote:

> The only way to balance the budget is to first cut spending, then 
> increase taxes, temporarily.

I don't think which comes first (chicken egg) scenario has anything to with
what's going on.

Let's start from scratch.
Assume we agree to build a school for our kids and hire teachers to put into
it.
How will we pay for that?
By cutting spending first?
Does not compute.

YMMV

Regards,
George Lottermoser
george at imagist.com
http://www.imagist.com
http://www.imagist.com/blog
http://www.linkedin.com/in/imagist






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Replies: Reply from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
In reply to: Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from shino at panix.com (Rei Shinozuka) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from frank.dernie at btinternet.com (FRANK DERNIE) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from frank.dernie at btinternet.com (FRANK DERNIE) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from shino at panix.com (Rei Shinozuka) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from ricc at embarqmail.com (Ric Carter) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from red735i at earthlink.net (Frank Filippone) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)