| User Info
| Our Local Troll Bridge: More Leverage Idiocy in forum [Market-Ticker]
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Corn1945
Posts: 4167
Incept: 2009-04-30
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You buying those bonds Karl?
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Gonji
Posts: 16
Incept: 2010-06-11
Timonium, MD
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While we are on the subject of Niceville, could we get an update on the Gulf Oil Spill?
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Detersbb
Posts: 93
Incept: 2010-10-20
Banned
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Municipal Corporations & incorporated counties have legal responsibilities to their bond holders.
Governments should not be run like a business, as it exists to preserve order, protect property, and enforce regulations to that effect, however, this is not your parents government anymore, and they are a business, the biggest business, and some may rightly argue the ONLY BUSINESS there is.
This is sad and will only result in bloodshed if governments don't tell bond holders-you made an investment-and investments have risk kind of like gambling, sometimes you win and other times you loose, but when the taxpayers are literally tapped out and no one can pay, it can not be paid...SO GO PACK SAND!
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Soros
Posts: 3116
Incept: 2007-08-31
La La Land
Online
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was this a letter to the editor ?
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So long and thanks for all the fish.
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Genesis
Posts: 130798
Incept: 2007-06-26
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Yes.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Blackswan
Posts: 5564
Incept: 2007-11-06
Just outside of Philly
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Highway tolls are all part of the ponzi. Cashflow negative on the tolls? Oops.
NJ Toll takers make an average of $65K. The union is making $3M in concessions after threats that the contract would be bid on by private companies. These pensions are gamed as well.. last 3 yrs of maxing out OT for the retirement calculation.
I avoid the PA turnpike as much as possible (daily commute - take back roads and it takes about the same amount of time) **** em.
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“It’s checkmate. Everywhere it’s checkmate.”
Hugh Hendry
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Captainkidd
Posts: 594
Incept: 2010-05-25
Pasadena, Texas
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Quote:Highway tolls are all part of the ponzi. Toll roads around the Dallas area (North Texas Tollway Authority) have all gone to electronic toll collection. Toll Tags, or billed (at higher rate) via License Plate number. Toll Tags have automatic charge to designated credit card. When you get below $10.00 credit, it automatically takes another $20 or $25 dollar bite out of your credit card. This was the smartest move that I have ever seen made. They got rid of the labor costs associated with toll collectors, and then got rid of the consious act of paying the tolls by charging the credit cards or billing later. I don't use any of the tollways around here, and when asked why, my response is that I don't want to pay the tolls. I have actually been told by half dozen or more people that they don't pay tolls, they have a toll tag. They don't physically take the money from their pocket and hand it to someone, so they don't consider it paying a toll. Sometimes I wonder how humans have managed to last this long and not gone extinct. ***********************************
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A lawyer with a briefcase can steal more than a thousand men with guns. --Mario Puzo
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -- Henry Ford
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Genesis
Posts: 130798
Incept: 2007-06-26
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One of the big problems for the Toll Authority here is that the local WalMart in Niceville, which just opened, was basically made economic by their toll jacking.
Oops.
They slit their own throats. Just like Bernanke and others who think they live in a closed system, they don't.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Gable
Posts: 413
Incept: 2009-07-04
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Governments don't think this stuff matters to people, but it was this behavior that was the final straw for me that triggered me moving out of Florida.
I lived in Orlando. They were building out the toll road loops and one ran parallel to an existing road I used everyday. Orlando decided to close the free road (nothing wrong with it) just to force folks on the toll road. That was it. It had been building for a while when Orlando went on a toll road rate increase binge then pulled this stunt, I asked for a transfer and got it.
To put it in perspective. A teenager living in my area (east side) that worked in the Disney area flipping burger type jobs ended up paying more in toll road fee than all their Federal taxes (all forms SS and such).
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In all of history, no government became more honest, less corrupt, or granted its citizens more rights as it grew in size. E.L. 2011
Ellie's Law-As an online discussion about the failures of the Obama Administration continues, the probability someone shouting "It's Bush's Fault" approaches 1
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Azusgm
Posts: 2427
Incept: 2010-12-02
East Texas
Online
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Several years ago, the cafeteria ceiling at a Houston middle school fell in a week or so before the start of school. At nearly the same time, Houston started trying to float the bonds to build the new sports/convention complex downtown. That is when I started voting against each and every bond issue on the ballots. If we couldn't afford to maintain our schools at a level of safety, we couldn't afford to pay interest on bonds for more sweet deals for team owners.
Now I'm up in the country. One of the nearby school districts has recently had trouble with a weird misappropriation of funds. According to the reporting on that matter it appears that that little school district (a good one, to be sure) had a bond offering a couple of years ago in which they issued $96MM in bonds. The town itself has 3171 residents according to the 2010 census. That would be approx $30,275/person. How's that for starting early with student loans?
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Guydaley
Posts: 15320
Incept: 2007-07-10
Wyoming only ATM
Banned
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Government operates on the Ponzi scheme principle. There will always be MORE growth down the road to pay for every project.
Why? More people? Why? Chamber of Commerce et al, bribing the backstabbers to open the floodgates of immigration, legal and illegal. And what do the vast majority of the immigrants have in common? A high natural birth rate.
That's your common thread theme throughout governments exponential growth. It is based on packing this country with people.
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Its called creeping TEOTWAWKI. Just because it doesn't happen all at once doesn't mean it isn't happening.
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Starvingartist
Posts: 3430
Incept: 2011-01-03
Puff The Magic Dragon
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It's all automatic via toll tags or license plate charge around here now. I don't drive that way.
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"The only solution that is mathematically sound is politically impossible.
All the should's in the world ain't gonna change that."
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Mezzmor
Posts: 1175
Incept: 2008-10-09
Off the grid
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In Orlando they found a way to build the expressway authority a 1.1 million dollar building that was necessary in order for the expressway people to meet with vendors...then jacked up the toll by .25 at each toll booth. They combined the building with the road widening project.
There is no way out of where I live except by toll road. 5.50 per day for me to get to work and back.
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Once the "Progressive" and the "educated" have completely destroyed the country, the logical, the wise, and the experienced will rebuild it.
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Txin1880
Posts: 4737
Incept: 2009-02-25
Texas
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I will drive any amount of miles out of my way to stay off toll roads. I do not care if fuel costs me more than the toll would have, **** them.
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Realization - Rage - Resolve - Rifles - Rope - Recovery - Rinse - Repeat
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Starvingartist
Posts: 3430
Incept: 2011-01-03
Puff The Magic Dragon
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Quote:5.50 per day for me to get to work and back. Holy ****. I'd move.
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"The only solution that is mathematically sound is politically impossible.
All the should's in the world ain't gonna change that."
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Aliveh
Posts: 4047
Incept: 2008-01-18
Los Angeles
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is there any borrow available on those bonds?
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Genesis
Posts: 130798
Incept: 2007-06-26
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Careful with shorting revenue bonds like this - the toll authority can AND WILL jack the tolls to the moon and their actions are basically unreviewable.
There's a history on this and while they can and sometimes do default, it doesn't happen easily or quickly, and the people who live in the area and need the transport point get horse****ed before the bond goes down.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Tm22721
Posts: 976
Incept: 2008-01-09
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KD I thought you had backed out of local bond issues a few years ago when they became too risky. Or are bridge revenue bonds an exception ?
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The country is terminally ill and IT JUST WANTS A PILL.
The only way up is down.
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Lenguado
Posts: 1272
Incept: 2010-01-12
Orlando, FL
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Vinnster -
What is the road they closed here? I am not aware of that one.... Not saying it didn't happen, but I did not know they closed a road next to a toll road like that.
Hate the tolls here, and avoid them like the plague when at all possible.
Leng
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I just realized... they aren't saying, "Keynesian Economics" they're saying "Kenyansian Economics". Grass Huts for everyone!  Welcome to history’s first Double Dip Depression |
Sushihorn
Posts: 7802
Incept: 2007-10-22
Arlington, TX
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Karl
The great irony of course is that at the same time as he assumes that monetary system is closed, Bernanke implicitly assumes that the economy itself is open - otherwise he wouldn't be able to dump so much of the inflation he's generating on other countries.
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Eighty6thebs
Posts: 4183
Incept: 2007-06-26
It's contained to sub-prime!
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I never use that damn bridge. They run signs out on 10 going west saying it's the fastest way to Destin (which I'm not even sure are true), but I always take the back bay brdige (331) for free and then 98 over the where ever I'm going (normally walton county). My guess is they thought every tourist in the world would use it but I see no point in it when 331 and 98 are just fine.
Now if I lived in niceville, then yes I could see it.
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"Sounds to me like you guys a couple of bookies" - Billy Ray Valentine
"No I am not scared, and neither should you be!" - Iraqi Information Minister
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Gable
Posts: 413
Incept: 2009-07-04
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Quote: Lenguado
Vinnster -
What is the road they closed here? I am not aware of that one.... Not saying it didn't happen, but I did not know they closed a road next to a toll road like that.
Hate the tolls here, and avoid them like the plague when at all possible.
Leng
I am sorry to say, I can not remember the name of the raod off the top of my head...it was 13 years ago.
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In all of history, no government became more honest, less corrupt, or granted its citizens more rights as it grew in size. E.L. 2011
Ellie's Law-As an online discussion about the failures of the Obama Administration continues, the probability someone shouting "It's Bush's Fault" approaches 1
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Sledge
Posts: 35
Incept: 2008-08-14
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Quote:Quote:5.50 per day for me to get to work and back.
Holy ****.
I'd move.
Here in Seattle they want to build a new bridge over Lake Washington. The lake divides the two major metropolitan areas of the city, so many folks have to commute over the water in both directions. The bridge is so expensive that they've decided to start pre-tolling... charging us to use the same old bridge we've used forever until the new one gets built several years from now. It will cost $7 per day for me to go to work and back. Why do I live here again? |
Starvingartist
Posts: 3430
Incept: 2011-01-03
Puff The Magic Dragon
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What's wrong with the old bridge? To narrow?
One way to fix your issue is to move to the side of the bridge you work on. :)
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"The only solution that is mathematically sound is politically impossible.
All the should's in the world ain't gonna change that."
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