Las Vegas Sun

Dear Congress

Treasury Secretary Paulson is asking you to rush through a $700 billion package because "we're literally maybe days away from a complete meltdown of our financial system".

Paulson states that it must be done quickly and that it is better than the alternatives. Fed Chairman Bernanke agrees.

The first question Congress should ask is how would Paulson or Bernanke know?

It was only a month ago Paulson was reiterating to anyone who would listen how sound our banking system is. The fact of the matter is that neither Paulson nor Bernanke saw this coming, yet now Congress is supposed to trust they now "know" the solution.

Problem Defined

Before one can work out a solution, the first step is to identify the problem. The problem is not a lack of liquidity, it is not a lack of trust, it is not lack of consumer confidence, it is not subprime lending, and in fact the problem is not housing at all.

The problem is consumers and corporations are deep in debt with no way to service that debt.

Attempts to bail out banks and brokers at taxpayer expense will do nothing but add to consumer debt, weaken the US dollar, and literally waste $700+ billion dollars that can and should go to more productive uses.

What Caused The Problem?
The Fed
Congress
Fractional Reserve Lending
The Treasury

The root cause of this problem is the Fed micromanaging interest rates, the Treasury cheerleading every step of the way, and Congressional sponsored spending that went wild. The critical issue that ties everything together is fractional reserve lending allows banks to borrow money (credit really) into existence with insane amounts of leverage.

To top it all off, Greenspan slashed rates to 1% fueling the biggest global housing bubble the world has ever seen. Congress needs to figure out a way to eliminate the Fed.

CONTINUE:
http://globaleconomicanalysis.blogspot.c...

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The above quote from a commentator sums it up best.

The issue is whether or not this is theft. If a patron gives a tip to the dealer he is giving it to the dealer, not to Mr. Wynn so that he can steal it and redistribute it to someone else.... Sounds just like what the thugs in our government have been doing for years. And what a wonderful job they do at redistributing and spending our stolen money. (but at least the private sector (Mr Wynn) does it more efficiently).
Competent dealers that look good, smell good and can have a conversation and deal at the same time should boycott Wynn and work somewhere where they are not stolen from.
This is nothing new, it is just the next step in a direction this industry has been going in for years - going from table for table (keep your own) to shift for shift, to splitting tips over a 24 hour period.
Eventually the service will start to suck as front line employees lose their incentive to even bother with putting any effort in. When that happens the local economy will suffer. Socialism at its finest.

Find another job with better benefits. Make yourself more valuable and find a job with a better company. Competition works both ways... Start your own company, be an entrepreneur and create jobs instead of acting like you are entitled to one....
Or better yet take your sense of entitlement with you and move to a socialist country.

Anyone that is stupid enough to go to these dumb places deserves to be ripped off....

Stop the government from stealing your hard earned tip money! Vote Ron Paul

His (Ron Paul's) record is exactly why people should vote for him.

Who introduced a bill in 2007 to exempt tips from being taxed? This would be of tremendous help to the working class of Nevada.
It wasn't Obama or Hillary.... Their marxist policies would hurt the working class of Nevada. Vote Ron Paul

He wants to exempt tips from being taxed, he introduced a bill to do that in 2007.... That is the absolute best way to help the working class of Nevada. vote Ron Paul

In a state like Nevada its amazing that more people don't support a candidate that actually introduced a bill into congress (H.R. 3664 - The tax free tips act) that would exempt tips from taxation. Ron Paul introduced that bill, he would do more for lower and middle class Nevadans than any other candidate in either party.
Hillary and Obama support marxist policies, the rest of the republicans are fascists.... Support the only candidate that will defend the constitution.