"You've got a weak economy, the aversion of a debt crisis but not a solution, and you've got the rest of the globe starting to implode in a lot of areas, especially Europe," said Barry James, president and chief executive of the James Advantage Funds. "It's natural that people would react with fear."Wall Street Journal.
August 4, 2011
"Stocks plunged, driving the Dow Jones Industrial Average down more than 300 points..."
"... as investors appeared to lose faith in the ability of the world's policy-makers to revive the global economy and stave off a rolling debt crisis in Europe... Investors across the globe have been buffeted by economic and political turmoil in recent days. In the U.S., fears have turned from worries about a possible default by the U.S. government to a weakening economic outlook."
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285 comments:
«Oldest ‹Older 201 – 285 of 285There's a comment up at Belmont that says "tomorrow is Black Friday."
Because Italy is so spooked it's market is crashing.
Belmont also seems to be predicting that both the French and the German's (Sarkozy and Merkel), expect Belgium to DIE. (This ends the Euro. This ends all the bullshit.) If this so happens. And, then comes to pass ... we may see daylight, after all?
The problem is even if Garage and his friends have given up on Obama, they will still vote for him over a Republican. The better bet for the Democrats might be a successful primary challenge from an experience candidate.
The US and the PIGS are awash with debt (The national debt now equals 100% of GDP). Inflation is the ONLY way they will be able to deal with it but if they even hint at inflation there will be no buyers for the debt. It's going to be damned if you do and damned if you don't.
What's shrinking? Certainly not the government.
Correct. The federal government has reached its its largest payroll ever under Obama. That's a lot of people doing unproductive work.
Job security in the federal government is so good that in some departments/agencies you are more likely to die that lose your job.
garbage throws out just that, garbage, and wants to pretend it's reality.
The only thing that can save us is high-speed rail.
DBQ knows more than I ever will about this. She said back then that hyperinflation was a distinct risk.
I was pessimistic then and even more pessimistic now.
I hope I am very very wrong.
Me too. But I don't think so.
The best thing that I can think of to do (and we are)to weather the storm...because winter IS coming.
1. is to reduce and eliminate personal debt as much as possible. Credit card debt, auto loans etc.
2. Not buy anything new that you don't need. Sell anything you don't need and stash the cash.
3. Stock up on hard assets. Gold, Silver, FOOD, AMMO and of course booze :-)
4. Get used to a lower standard of living.
5. Financially: Move your portfolio into defensive mode. Watch out for fixed income investments, especially with a maturity date of more than a few years. When rates go up.....and they will, you will tank on your fixed investments. Don't count on the solvency of banks or insurance companies as they are all over extended and under the thumb of the government.
While it looks we are into some hard times, we need to remember that compared to the Great Depression, we are still rich and blessed.
We are just spoiled brats and don't want to scale back in anyway for anyone. This is the entitlement mentality. Everyone deserves everything. Wrong.
garbage throws out just that, garbage, and wants to pretend it's reality.
Public sector jobs are down all over the country. 429,000 lost since Obama took over, 59,000 just last month. I'm not sure what you were trying to prove with that link from Feb 2010.
Greifer at Belmont posted this:
12. Greifer
I am surprised the DJIA fell so far only because I don’t understand who still had money in the market. As far as I could tell, electronic algorithms had been trading amongst themselves for 2 years now, and for now, algorithms are still immune to fear.
Honestly, my guess is this is really a mutual fund downward spiral. Lots and lots of people finally gave up on whatever funds they owned in the last couple weeks when Congress made it look like they were stupid enough to blow up everything. Funds held on, trying to redeem out of the cash holdings they had, but eventually the had to actually sell off to match the redemptions. which suggests the self fulfilling prophecy of Congress’ ineptitude came true: they played their games too long, long enough for everyone to admit the GOP couldn’t do what they’d been elected to do, and there’s no way out now. the Ds and Rs didn’t really get that that trust was the only thing they had left to borrow against, and they were over the limit. raising the ceiling doesn’t matter when no one will lend to you anymore.
the big problem is not that Perry or Palin or whomever lacks the leadership. It’s that the whole premise of one person leading this leviathan is wrong headed. the Leviathan of the USG needs slaying, even as America needs to be growing again. Obama saw US power as the beast to succumb, and he did that by shackling it to the US Government. Our Aquino or Washington can’t come until we’ve decided as individuals, locales, states to free ourselves and we engage the war against the tyranny of the state.
Public sector jobs are down all over the country. 429,000 lost since Obama took over, 59,000 just last month. I'm not sure what you were trying to prove with that link from Feb 2010.
State and local governments have been shedding jobs since the economy is terrible and they can't deficit spend. The Federal government, the one that Obama is in charge of, has been adding payroll. And paying for it with borrowed money.
Public sector jobs are down all over the country.
Not federal jobs. which is the info I gave you. Do you know the difference? Can you find data to contradict that? The second link I gave you was from 2 weeks ago.
Time magazine thinks the market is tanking because the debt bill cuts money to programs for the poor. We need to give money to the poor so they'll spend it and the economy will be saved.
Maybe we just need to quit threatening to ruin the lives of everyone who earns their pay. Let them enjoy the fruits of their labor and they'll spend plenty. Threaten to take it away and they'll hold on to it tight in order to protect themselves when the rains come.
The only thing that can save us is high-speed rail.
Wind farms, don't forget wind farms.
So is the presidency shovel-ready yet?
Tax the Hollywood left. They want it!
95% tax rate for Matt Damon and company.
The left are falling apart. They are screaming about civility while lashing out and calling everyone delusional terrorist hostage takers.
Meanwhile, on planet reality, the left's very policies have delivered us to this moment.
This image sums up what happens when the market is distressed ... I wonder if they play "Gary Owen" to start the charge?
95% tax rate for Matt Damon and company.
Do it. He'd still take home 10 or 20 times more than I do. It's only fair.
Gee, the Dow is down 500+. And today's Real Clear Politics President Obama Job Approval spread hit a new spread: -6.2
President Obama Job Approval
Obama's looking a bit "snakebit" on his birthday.
A Snakebit President
Shrink = Grow!
Shrink Goverment = Grow the private sector.
Might be time for Perry to announce and say some broadbrush things of what he hopes he can get the American people to agree to to help recover America. Why he will not be Dubya II.
Same with Mitt Romney. He's in it..and it is time to start explaining how if he and the Republicans take over - they hope to avoid the policies of Delay, Bush, Phil Gramm, Dick Army and the Corporatists that led to the huge mess that Dubya made that Obama made worse.
What would those two guys do different? Are they prepared to do some radical things like demand a two year moratoriun on EPA regs in the pipeline and ability to dispense with regs that destroy jobs? Are they willing to call for shared sacrifice by all Americans to restore the nation - even ask the Richest 1% to share in the pain?
Cedarford - why should the top 1% pay more when they did not break the nation? 40+ years of LBJs "Great Society " broke us, the liberals should be the ones to bear the brunt of it.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
Cedarford said...
Are they willing to call for shared sacrifice by all Americans to restore the nation - even ask the Richest 1% to share in the pain?
Do you think that you're going to take any money from the Kennedy estate, from the Kerry woman's money, Herb Kohl's massive fortune?
Who in the fuck, do you think is going to pay this extra percent? Matt Damon" Tom Cruise, Babs Streisland?
Who are you talking about, paying this extra money?
Might be time for Perry to announce and say some broadbrush things of what he hopes he can get the American people to agree to to help recover America
We'll get more failed supply side with a more Jesus. Just what we need.
@Shouting Thomas, good luck with the interviews.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
garage mahal wrote:
"We'll get more failed supply side with a more Jesus."
Garbage is drunk again.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world... Mobyrebutal
lol Zero Hedge has a happy birthday Obama post with a picture of a deer caught in the headlights.
My name is Elmer J Fudd, I own a mansion and a yacht.
Millionaire
Billionaire
Corporate Jet
Big Oil
Alex said...
Cedarford - why should the top 1% pay more when they did not break the nation? 40+ years of LBJs "Great Society " broke us, the liberals should be the ones to bear the brunt of it.
=================
I wouldn't excuse the people in the NYC skyscrapers and gated SF communities that decided to outsource whole industries so they could get richer at the expense of drying up the taxpayer base of middle class skilled workers. I wouldn;t excuse the filthy rich that lined up for their two trillion bank bailout, the 100 billion ethanol and ag subsidies, their big bucks from the 359 million a copy "terrorist-fighting" F-22 warplane.
It took more than the recipients of Great Society welfare to break us. The rich, the middle class that demanded subsidized McMansions and cheap China goods had a role as well.
Besides that, just as the Tea Party blocked legislation, the numbers of Democrats from solid Blue States can block legislation if Republicans say only the poor and the middle class should sacrifice.
Who has forgotten the bankers and CEOs lined up in a row in their 2500 dollar suits with a hand out to "save our financial system"?
Channeling Obama on his brithday: "If only for those pesky tea partiers, the market would be up 2,500 this week!
And, once again, President Obama did dithered.
How true. Hilarious.
Mebbe I was just two years early.
Nah.
Perhaps you were. The guy I know who called the collapse and pulled out early just moved his family out of the country. It will be interesting to see if he's right again.
Eric: The Democrats are making decisions based on a flawed model of economics, so they have no hope of success to start off with.
No. It's worse than that.
The Democrats are making decisions based on a model of politics. It involves purchase of support through very generous benefits, and selling the idea that the other guy (the supposedly rich one) will be able to pay for this. This model has been a success for the Democrats since the 1930's, and from time to time the Republicans have also adopted a variation of the model.
The proponents of the model use economic arguments to justify their actions, but they are largely window dressing.
The crux of the model is actually that the someone else who is paying are people from the future, not the supposedly rich.
This is all ending because the future is now.
Garage sez: "Public sector jobs are down all over the country. 429,000 lost since Obama took over, 59,000 just last month."
These are state employees and census workers, Garage, you idiot. The census only comes every 10 years, and the workers are temporary. The states have been laying off workers in part because the lousy economy has devastated their tax revenues.
The number of federal jobs, federal pay and federal benefits continue to climb under Obama.
Which is your excuse for this misleading crap, Garage? Dishonesty or ignorance?
The problem with the Federal Government jobs ... is that they are a small sponge in a huge problem!
All those rules! How are you gonna enforce them?
You think people in the Federal government people read more than most of you? Heck, they're even stuck with the fine print. Which they don't read, either.
And, then?
When the Feds have to spin off agencies ... (in a year or two) ... where will those people go? Most of them have UNFUNDED pensions!
Oh, yeah. Lawyers will sue. But they'll have to take those cases on contingency.
Pennies will be paid on the dollar. Lawyers will eat, I guess? But other folk? They'll have to learn to plant their foodstuff from seeds.
When will it all settle down? When wages to teenagers go for a dollar an hour. Nixon was the guy who set the stage. Are you happy now?
I went to the store but couldn't find any peas. Does the white house deliver?
David wrote:
"Which is your excuse for this misleading crap, Garage? Dishonesty or ignorance?"
False dichotomy. Garbage is both dishonest and ignorant, but as a liberal, he can be no other.
Which is your excuse for this misleading crap, Garage? Dishonesty or ignorance?
I cited all government workers, follow along would you? We were talking the "size of government" being too big, and how that related to this poor economy. The topic of this post. I correctly noted government employees has dropped over 500,000 since 2008.. I realize some of those were temporary census jobs.
Where is the evidence that has been good for the economy? That was my point.
@Curious George from earlier today: Thanks, that explanation makes sense.
False dichotomy. Garbage is both dishonest and ignorant, but as a liberal, he can be no other.
You must live a pretty fucking miserable life then if you spend your time following me around spell checking my posts. You would admit you are miserable old wretch, right?
Here at Ft Drum, and many other military installations, the workers who are getting cat are the lower level guys whose jobs will vanish or get replaced by military. Word on the street is that active duty numbers will start dropping soon and that we’re heading for the ‘do more with less’ Clinton days.
How does a gunner announce a 6 to 9 round burst if he has no ammo for training? It sounds like this, “Ba-Ba-Ba-Budget-Cuts!”
I'd like garage to explain me how government is responsible for our most innovative industries. Meaning prove me a direct causal link between government actions and the iPad.
He's too busy trying to get his Cuban smartphone to work.
I cited all government workers, follow along would you? We were talking the "size of government" being too big, and how that related to this poor economy. The topic of this post. I correctly noted government employees has dropped over 500,000 since 2008.. I realize some of those were temporary census jobs.
Where is the evidence that has been good for the economy? That was my point.
Two points: You cannot isolate a variable like that and show direct correlation.
Also, reach of government is much different than size.
The "beauty" of the current economic situation is that there have been no real surprises. And, we can see what's still coming; an exhausted Black Swan weighted down in blazing neon.
Over at the Belmont Club, within the comments, someone put up Trump's interview with Greta.
Boehner and McConnell, he said, did a stupid deal. Letting Obama off the hook. By pushing the issue of the debt ceiling now aside. Instead of having it come due BEFORE the next presidential election.
Trump's right. We've got idiots in both parties, who can't make deals worth anything!
My guess is ... with Italy just taking an enormous write-down on their greek debt ... that Sarkozy and Merkel are solving Europe'a problems. We're not even at the table!
The trust tossed out the window by Boehner and McConnell ... is what pushed our own markets down.
Since "algorithms" have no reason to fear ... I posted, here, the comment that pointed to people who had been holding mutual funds. And, it's the mutual funds companies forced to sell ... because so many people just pulled out.
TRUST is not gonna get rebuilt any time soon.
While, again, from the Belmont Club's comments ... Sarkozy and Merkel are gonna bush Belgium OUT.
It's shakey. But it's not a bad start!
Even if the UN tips over into the East River. The downside isn't going to hurt as much as just laying in the gutter.
DC is full of nincompoops. You think you can fly with the country missing its left wing? Be my guest.
Where is the evidence that has been good for the economy?
Many government jobs are simply dead weight. In Cincinnati, the existence of ridiculous agencies and programs consistently comes up, such as the Office of Environmental Quality. We already have the EPA and related state agencies, why the triple redundancy?
The damage to the economy of paying people for jobs that essentially do nothing productive or create a drag by sucking up money better used elsewhere is slow and insidious. Maybe, these people losing their parasitic jobs temporarily hurts the economy. But, if they get productive jobs in the private sector and pay taxes on real earnings instead paying taxes on tax money, then the economy is strengthened in the long run.
"It's only natural in a time of turmoil for the more weaker elements to run for cover..."
--Tim Robbins as I remember it kinda though I know it's not quite correct
"ARE YOU CALLIN' ME YELLER???"
Angry Man charactor
The Hudsucker Proxy
And by the way, just how could art not imitate life and vice versa?
What part of life don't I understand?
Shouting Thomas, with his repeated ideas, is presenting excellent suggestions. Those 4 points nail a ton of problems (develop domestic energy, stop illegal immigration, stop affirmative action, end Obamacare). The Drill SGT adds truth with complaints about over regulations, especially from the EPA.
I would humbly suggest we look into taxing the money that illegal immigrants have been shipping back to Mexico. For many years, the wages sent back were the second leading source of foreign currency for Mexico, after oil. They appear to be a failed state. Tax that money. Money sent back is money not spend in our stores.
"Never saw that coming." Here we've been watching the PIIGs, and now Belgium pops up. Sort of like "Whack-a-Mole": where is the next hole in the dike? "Wow, never saw that coming."
I've been reading this, but not getting involved, because y'all are just repeating the same shit you said last night (including ST's four suggestions) and what's the point of that?
Anyway, I'm done blogging for the day, if you want to come on over:
Patrice O'Neil, Japanese kiddie wrestling, Dunkin' Donut hookers, North Korean Cult Cartoons - it's a pretty nice mix.
Or, you know, you can stay here and repeat yourselves. Your choice. No hard feelings.
Well if everyone thinks the economy is on the brink of recession, then I predict a recovery very soon. I'll do it myself if I have to. You can thank me later.
This didn't have to happen. It really didn't.
It's was just foolish voting. Guess who's responsible for that.
And a few of you (Ms Althouse) voted for the most liberal member of the Seanate in 2008. Tax, spend, regulate and redistribute said Mr. BHO.
Welcome to what you gave the rest of us....you really are anti-free enterprise wonderments.
At this point in hindsight, both Presidential candidates in 2008 were the worst possible for each party in terms of dealing with the challenges ahead. That said, it is really all the votes for congress that got us here, not just the presidential.
Imagine if they got all the other crap they wanted: Amnesty, Cap N Trade, Card Check, tax hikes. Does anyone think any of those would get jobs started? This is like dodging bullets from a Gatling gun.
"Even if they didn't want a horrible economy their ideas have been tried and proven nonsense."
Ever heard of the mythical land of Texas, where the Tea Party ideas lead to a better economy?
The US Economy faltered after Pelosi got her gavel and government spending soared. True, Bush signed a budget (the democrat budget) but blame aside, the ideas you're saying are proven nonsense are not Tea Party ideas at all.
Less government = healthier economy. Look at the 50 states. Look at Wisconsin's recovery. Look at Indiana and Texas. Look at New York and California.
Roger Simon hedges the question whether Obama is deliberately destroying the economy
"On a summer-stock stage, it might have been an illuminating melodrama. Alas, we threw caution to the winds and elected someone who resented this country, was suspicious of wealth, and whose reflexive commitment to left-wing nostrums would gravely damage the most productive economy the world has ever seen. Tens or hundreds of thousands of people will suffer because of our naïveté and Barack Obama’s malevolent stupidity."
@rhhardin
As my wife and I are wont to do at the end of the day, for the umpteenth time we wondered exactly where democrats heads are in terms of our economy. We know where repub heads are - worried about what dems think. Being in reactive mode is a weakness.
We can only conclude that Zero and the dems are either breathtakingly ignorant or deliberate in their quest to bring this country to its knees. Their political strategy of Munchausen-by-proxy is reverberating around the world now, not just in America.
The mentally ill nanny must be removed from responsibility. Unfortunately, with the many courts and media in the way, the road to health will lead to more devastation and claim many more in the name of politics.
wv - avirt
We must!
I don't trust Rick Perry. He's never held a private sector job and was stupid enough to still be a Democrat as late as the early 90's. That's bone-stupid.
The worst part is, as Obama said yesterday, we're less than halfway there.
Look at Wisconsin's recovery
Where should I look?
Zero was right about that.
If Ron Paul had been elected (that crazy old guy), and allowed to work his ideas, we would have had misery for a year to 18 months, but would be well on our way to getting better.
I've been trying to figure out what the ... they're thinking on the stock market for the past two years. Up Up Up. Why, why, why? None of our unsolveable problems are a surprise.
"...It is shrinking. And yet things are getting worse. Why?"
The public sector is shrinking? Seriously? You actually said that with a straight face?
We're spending $1 trillion more than we did three years ago and even with the so called cuts you're wetting yourselves over, we're on target to spend even more.
Talk about a dirt dumb comment. You are a regular pig pen.
Where should I look?
...right...behind...you...
Exolrdv1 said:
"The worst part is, as Obama said yesterday, we're less than halfway there."
When he said that, was he holding an anvil while he plummetted to earth? Meep meep.
What's needed is like a Department of Carol Herman--put Carol in charge of economic and domestic policy. GERMANY FRANCE ENGLAND, BELMONT, THE FED, THE EURO, and you and me, baybe. Why, with her combination of Phyllis Diller zaniness and hardheaded Ayn Randian politics, the USA and the World would be on a wacky road to recovery in a few weeks.
CAROL FOR PREZ
The guy I know who called the collapse and pulled out early just moved his family out of the country. It will be interesting to see if he's right again.
Uruguay is very nice.
My pick should I ever decide to leave my little corner.
Uruguay is very nice.
There is very little bad you can say about that little country.
Wonderful points made up at the Belmont Club.
Algorithms, done by computers, know no fear. And, the retail customers to the stock market dropped out when the bubble burst. 2009. Or so.
Isn't it possible that Boehner & McConnell caused this to drift down? TRUST sailed out the window ... on a stupid DC game of "lifting the ceiling, and making imaginary cuts."
That's when the bottom fell out.
TRUST was lost. Mutual Funds, here, are getting hit! People are redeeming.
And, gold dropped a little, because people had to sell off some from their horde. To pay margin calls.
It still does NOT affect the average American! The retail customer.
And, we're in a DELFATIONARY ZOMBIE ECONOMY. Because to meet the rising prices (of eggs) ... people cut back on everything that's non-essential.
Should make Christmas interesting.
Uruguay is exactly like Switzerland! It's where the despots who control, send their money.
Switzerland was the bankers to the nazis. When WW2 was over ... who do you think "collected" deposits that were placed their by dead people?
Uruguay was enriched by Peron. And, today, by Hugo Chavez. A lucky patient in cuba.
Uruguay.
Like where the nazis escaped to, and Cheney has a secret compound, supposedly. Joined by DB Queen in her nazi bondage gear, bringing some good tweek to the Volk!--ja, Frau DBQ
"Uruguay is exactly like Switzerland! It's where the despots who control, send their money."
Where, oh where, do you go to steep yourself in ignorance and cliche? For the love of God, shut up. Please.
The federal debt is not causing our problems and austerity will worsen our economic condition. It's like going to battle when you're sick and weak. Health the economy first, fix jobs crisis, then deal with debt.
We have weak demand in the economy from the private side and now weakening demand, as well, from the public side.
The issue is not investment, rates on bonds are very low and corp's are hoarding cash. Thing is, they don't have enough customers.
Keynesian economics would save the day but our elites have their heads up their asses with voodoo and austerity economics.
Also, Tea Party support is now at 20%. 20%!
The public sector is shrinking? Seriously? You actually said that with a straight face?
Hoosier, If you spend less on actual services and spend more on entitlements, it's easy to reduce the total number of government employees while increasing spending. It doesn't take a lot of people to send checks in the mail.
In a way, those diverging trends summarize our situation pretty well.
Republicans are to blame for this. They freak out now about a crisis they started.
They did 4 things after Clinton balanced the budget.
Cut taxes (with a heavy tilt toward the rich), waged two wars on the national credit card (one of which was against a country that had nothing to do with 9/11 and posed no serious threat to America), passed a prescription drug benefit with no pay-for (the first entitlement in American history without a revenue source), and deregulated Wall Street.
Thanks GOP.
"Yes We Can" --- lose the AAA credit status of the US.
Thanks Obama.
Cut taxes (with a heavy tilt toward the rich)
Hard to cut the taxes on those who don't PAY taxes...
waged two wars on the national credit card (one of which was against a country that had nothing to do with 9/11 and posed no serious threat to America)
As opposed to Obama and his actions in Syria? Or his doubling down in Afghanistan?
passed a prescription drug benefit with no pay-for (the first entitlement in American history without a revenue source)
As opposed to Obamacare, which costs us immense amounts of money and increases health care spending more than doing nothing?
and deregulated Wall Street.
That was done under Clinton. And the heightened regulations haven't really done much to help things.
Keynesian economics would save the day
...provided one ignores all of the times it's been tried and failed.
...which would be every time.
Matt: against a country that had nothing to do with 9/11 and posed no serious threat to America
Wow Matt, thats some really serious and deep analysis. You should position yourself for SecState once Hillary steps down...
I see the Media Matters Talking Point Cavalry has arrived to save us from our horrible troglodyte selves.
C4: Maybe Rosen is right and you're just a moron good at sounding smart. Sure, fly the F-16 forever, who needs new aircraft?
Carol_Herman said...
Greifer at Belmont posted this:
Carol, please don't hock their chinik over at Wretchard's. They are of a higher caliber there and hold posters to a higher standard. Nothing about you qualifies. Confine yourself to here where kvetches and meshugenehs and nudniks are welcomed.
You are a yenta, probably a shikker, and you would be an alte kocker except that I am informed that only men can be alte kockers. How could someone as old as you write so badly? (AND a Jew? It's a shanda fur die goy.)
Do you know, that you are a horribly bad, writer? Or, is it a faithful reflection, of your ongepotchket, tsetummelt, thinking? Or, do you get paid, by the, comma? And, the "and?"
Do you need, to have it explained, to you? You, really, should be ashamed, that people, will know, what a fool you are. Even if, you have the right opinions, with your shtik, it all sounds like mishegas.
I don't hate you. I just wish, you would try, to improve. Maybe, get, an, editor, or someone, who can, at least, explain, to you, that one, doesn't write, as one, speaks.
But, I know, you will never, never listen, to me, or, anyone. You are gornisht helfn, so, gey gezunterheyt. Fershtay?
But, compared to J, you're a shayna maidel.
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