32519

Here is another very interesting read, Political debates about the United States federal budget.

As a % of GDP, the USA looks good versus the United Kingdom. Check out this List of Countries by External Debt.

There is a major difference between 1835 and now. Back then Andrew Jackson TOOK ADVANTAGE of a huge real-estate bubble to SELL OFF GOVERNMENT OWNED LAND, and so pay off the national debt. Now it is the federal government CREATING A BUBBLE, this time in the stock market. Following Ben Bernanke’s policy of printing money to stimulate the economy, the world will soon reap the unintended consequences of that policy as much of that money is ending up in the stock market, driving prices up. What will be the catalyst bursting the bubble? I have no idea. The banks were responsible for the 2008 crisis with their sub-prime policy. Maybe the collapse of the Euro? The Eurozone Crisis has been simmering since 2009. There are already enough governments there unable to repay or refinance their debt. A fresh crisis in the Eurozone which somehow spilled over to the USA in ways unforeseen could possibly be the catalyst.

Read this article on the National Debt of the United States. Here are some quotes from the article – Quote 1: “In recent decades, however, large budget deficits and the resulting increases in debt have led to concern about the long-term sustainability of the federal government's fiscal policies.” Quote 2: “On December 12, 2013, debt held by the public was approximately $12.312 trillion or about 73% of Q3 2013 GDP. Intragovernmental holdings stood at $4.9 trillion (29%), giving a combined total public debt of $17.226 trillion or over 100% GDP. As of January 2013, $5 trillion or approximately 47% of the debt held by the public was owned by foreign investors, the largest of which were the People's Republic of China and Japan at just over $1.1 trillion each.” With $12.312 trillion of the national debt held by the public, imagine the carnage when the USA defaults? This excludes the off-balance sheet obligations of Fannie Mae and Freddie Mac, another $5 trillion. Quote 3: “Sustainability – According to the Government Accountability Office (GAO), the United States is on a fiscally unsustainable path because of projected future increases in Medicare and Social Security spending, and that politicians and the electorate have been unwilling to change this path. Further, the subprime mortgage crisis has significantly increased the financial burden on the U.S. government, with over $10 trillion in commitments or guarantees and $2.6 trillion in investments or expenditures as of May 2009, only some of which are included in the public debt computation. Quote 4: “Interest costs – Despite rising debt levels, interest costs have remained at approximately 2008 levels (around $450 billion in total) due to lower interest rates paid to Treasury debt holders. However, should interest rates return to historical averages, the interest cost would increase dramatically. Historian Niall Ferguson described the risk that foreign investors would demand higher interest rates as the U.S. debt levels increase over time in a November 2009 interview. How about the United States Debt Ceiling? Quote 1: “A default could trigger a variety of economic problems including a financial crisis and a decline in output that would put the country into a recession. Or this article United States Federal Budget. Quote 1: During FY2013, the federal government collected approximately $2.77 trillion in tax revenue, up $326 billion or 13% versus FY2012 revenues of $2.45 trillion. Quote 2: During FY 2013, the federal government spent $3.45 trillion on a budget or cash basis, down $84 billion or 2.4% vs. FY 2012 spending of $3.54 trillion. With expenditure outpacing revenue your country has squat chance to reduce the national debt. Currently you are down slightly on interest payments because of the historically low interest rates. When public debt holders start demanding higher interest rates, your government is going to be placed under even more pressure than it already is. As pointed out by others in all the above related links this cycle is unsustainable. At some point the bubble will burst and the carnage that will spread across the globe is just too awful to imagine. As they rightly say, "When the USA sneezes the world catches a cold." Ben Bernanke with his monetary policies, has set in motion a cycle of printing cheap money (which is finding its way into the stock market and continually driving prices up), which is going to end in carnage. Janet Yellen is succeeding Ben. Tragically for the Womens Liberation Movement or Equal Opportunity for Women or Women Empowerment Movement or whatever Women Emancipation Movement you care to name, she will be blamed for the carnage created by Ben.

The USA is bankrupt with national debt exceeding USD 17 trillion. Effectively your nation is now in a debt trap and it has become unavoidable for your government to continue raising the national debt ceiling in order to meet all your debt and other payments. What do you think will happen to the world economy and the stock markets when the USA defaults? Your two houses (what are they called again?) are forever playing “silly-buggers” every time the debt ceiling needs to be raised. The day will come when they play “silly-buggers” once too often or one day too long and an implosion of the stock markets will occur never seen before and never will be seen again when the USA defaults.

Your thread title says this is an Acol based system. So what exactly is the issue here? This is an extract from the Acol document on the English Bridge Union website. Responding in a new suit "A response at the one level promises at least 6 HCP, at the two level at least 9 HCP. There is no upper limit in either case. Opener must bid again (unless, exceptionally, responder has already passed). Simple new suit responses show 4+ cards except 1S 2H which guarantees a 5-card heart suit." If responder has bypassed your 4-card major, to bid on the 2-level, what do you gain by showing it now? Won’t you gain more by showing that your first bid was a 5-card suit by rebidding it? The cheapest NT rebid will mis-describe your hand, both in shape and HCP. If you end up playing in a 5-2 fit, it's no train smash. Allow responder to describe her hand further.

Here is more on hrothgar's post.

Botswana have at least one group of eight fairly decent players. I have seen this same group on a number of occasions in tournaments where there is prize money at stake in tournaments in and near Johannesburg, South Africa. One pair came in third the last time I saw them.

How about this? Many players have their own little ways of deciding which way to finesse for a missing queen. Some play that the queen always lies over the jack; hungry players finesse toward the kitchen, romantic players finesse toward the bedroom and practical players finesse toward the bathroom.

Here is one of Edgar Kaplan's quotes from TBW. Anyone know if he changed his mind? "I do not guarantee I'll never open one notrump holding a five-card major, but so far in a long bridge career I have never found the occasion to do so." "Vanderbilt in Philly, III", TBW 10/1996, p. 9

So how do you want to create a swing if all are in the same contract?

Mr. Greenspan said, "It's a bubble." “You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is.”

China

You may have forgotten why I am posting these links here. Projects like the LHC are largely being funded with stock market speculations and crashes. The current bull run is being driven by all the cheep money the USA is printing and which can in many instances be borrowed for as little as 0.25%. Much of that cheep money is finding its way into the stock market and is driving up the prices. On 9/11 (11 September) the market is going to fall further than what it did in 2008. How do I know that? It’s all in the Book of Revelation which Elohim is busy cracking wide open for me. I am posting these links for the believers, giving them a chance to get out before the disaster strikes. Non-believers have written me off long ago so they wouldn’t pay any attention to this warning anyway. Also I have succeeded in getting myself onto most of their “Ignored User” list so they won’t be reading these posts anyway.

The Dark Continent giving you more options to lose your money.

Trouble coming as Bitcoin fever catches on.

Bitcoin fever catching on.

What makes you think I am joking? Zel, we tried this but because the partners are sitting at opposite ends of the table, confusion arose as to which way the card was lying. Is \ (diagionally left) or / (diagnonally right) from the players point of view or from partners point of view. After too many mishaps we gave up on it and switched to my post higher up.

We lead Ace for Attitude and King for Count (misspelt Kount to aid memory), A for A and K for K. We also play UDCA. So here we would lead the Ace. Partner hates the suit and wants a switch. But switch to what suit? To assist with the switch, we also incorporate Odd/Even carding i.e. a high even card asks for a switch to the higher unplayed suit, a high odd card asks for a switch to the lower unplayed suit. But this is a NT contract and therefore there is a third unplayed suit. So how must partner know which suit to switch to? When it is partners turn to play, he/she places his/her card vertically on the table asking for the highest/lowest suit switch depending on the spot card played (odd or even), or places his/her card horizontally on the table asking for the middle suit switch.

A Bridge Story - Et tu, Partner? Weak Response – When your partner passes your Forcing Bid … followed by … Double – When the opponents double up with laughter … followed by … Dummy – What you call your Partner … followed by … Call – What your partner thinks of you … followed by … Overcall – What you think of your partner … followed by … Point Count – When he Points out and Counts all your past mistakes … followed by … Small Slam – When you slam your cards on the table … followed by … Grand Slam – When he slams his fist into your face … followed by … Splinter – When you poke him with the pencil tip ... followed by … Short Club – When he hits you with a cane … followed by … Vulnerable – When you start to cry … followed by … End Play – Bye-bye partnership

World trade is now flatlining

Now we got Bitcoins also being traded on the stock exchange. Here is an extract from the article "In South Africa, the currency is being used for stock market speculation and payments." You have been warned higher up in this thread: The stock market is a disaster waiting to happen.

This is not necessarily true. There is plenty of absolute crap that gets upvoted, especially if it is one member of this clique upvoting a post of another member of the clique. Which Mike? There are some Mike's who haven't a clue. Justin and Andy I can agree with. Personally I have a lot of respect for you as well because you are one of few who attack an argument you disagree with versus attacking the person you disagree with.

Puppet Stayman is a bad idea. Period!!! Nuff said!

Another species close to extinction.