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The Coming Economic Insolvency
#61
Nothing surprises me anymore Tait.
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Hillary Clinton Is Like Herpes, "She Wont Go Away" - Anna Paulina
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#62
Well, that is the level of the average voter.
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#63
Greenspan Wrote:Fed's Massive Stimulus Had Little Impact
I can't believe he is that dumb.
Of course that it had little impact! The goal was to recapitilize the banks in which the governement became heavily invested while capitalization requirements have been risen several times. Secondly it was to stop the devaluation of mortgage backed securities.

Now poeple complain why it didn't create jobs!:?
It's not like the Fed stuffed 500 dollars in the pocket of every american citizen and kick them inside a department store to spend.
The Fed averted a massive collapse of the financial system, collapse whhich was already under way but radicaly stoped thanks to that. most of this money is still waiting in the private bank reserves. It doesn't create jobs. But it doesn't create inflation neither.
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#64
Quote:Now poeple complain why it didn't create jobs!:?

Well, golly gee! Maybe that's because Obama and the congress pushed it through saying that the stimulus bill would create jobs. Remember Obama's famous "shovel ready jobs" speech? The statement he had to come out later on and admit was mistaken (Washington DC term for BS)?

Read this

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#65
[Image: aria11072120110718025525.jpg]
___________________________________________________________________________________________________
Hillary Clinton Is Like Herpes, "She Wont Go Away" - Anna Paulina
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#66
Huh, maybe politicians are forced to lie to win aproval from the public. How would it look like had he said:" It won't create jobs, it won't make you live better but it will increase big banks reserves with money that will not be used."?
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#67
Quote:How would it look like had he said:" It won't create jobs, it won't make you live better but it will increase big banks reserves with money that will not be used."?

He would have been honest, it wouldn't have passed, and maybe we wouldn't be in the economic mess we are in now.

No, we'd still be int he mess, b ecause he and the rest of the DC bozos would have found another way to spend oodles of money we don't have.
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#68
Huh, if that wouldn't have passed, if nothing had passed, if he had sat idly leting "the market fix itself" it would be a mess far greater. But that's my personal political opinion.
Speculating on what would have happened had the governement totaly ignored the subprime crisis and done absolutely nothingis difficult to assert but it would have been something.

"Anything else would have been better" is an emotional reaction, not based on economics but on ideology and on the fact that you can't stand Obama from day one.
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#69
Please read these two articles, because I haven't have got the time to read them yet.
Will comment tomorrow:

The Fed Should Twist Again

George Soros Follows His Own Advice
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#70
(07-26-2011, 03:13 PM)Fredledingue Wrote: Please read these two articles, because I haven't have got the time to read them yet.
Will comment tomorrow:

The Fed Should Twist Again

Perhaps the Fed should twist alright,...................at the end of a rope.

Quote:George Soros Follows His Own Advice

You can comment all you wish about M. Schwartz. I will not be buying any of it.

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Hillary Clinton Is Like Herpes, "She Wont Go Away" - Anna Paulina
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#71
(07-26-2011, 03:13 PM)Fredledingue Wrote: Please read these two articles, because I haven't have got the time to read them yet.
Will comment tomorrow:

The Fed Should Twist Again

The author advocates repeating the same mistake that was made in 1937.
Quote:George Soros Follows His Own Advice

Muzzy, very muzzy article. I pity the poor confused writer. Is he lamenting the departure of his guiding angel from the fray?

Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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#72
Here's another perfect example of why nothing of substance ever gets done in DC, by either party, when dealing with spending and the debt: Moody’s Affirms U.S. Rating, Warns of Downgrades. In politics, just as in much of life, there is always "the threat" but little will to carry through with it. As the saying goes, "After all is Said and Done, There is a Whole Lot More Said Than Done.".

After all the threats and promises of downgrades for fiscal irresponsibility, politics triumphs over principle, even with Moody's. So why should politicians have to do the prudent and right thing, when they can just kick the can down the road some more?

And there are some of you here who can't stand the Tea Party, because someone said someone there was an asshole, or a neighbor is a member, and he doesn't wipe the urinal after hosing it down. Or you can't stand the way a Tea Party member licks stamps.

Simply amazing. No wonder politicians can get away with practically anything: nobody is willing to hold them accountable, with the exception of a few patriots, willing to piss in the wind, knowing it may be a total waste of time.

Simply Amazing!
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Hillary Clinton Is Like Herpes, "She Wont Go Away" - Anna Paulina
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#73
It was a good occasion to do true politics these last days in DC. Unfortunately they did as little as possible.
Delaying the big cuts decisions to later, and this is both the GOPs and the Dems.
Make sure that they will never agree on what to cut. Anyway forget about cutting spending now. No one on both side of the political spectrum wants that.

Gov't will borrow $72B in debt auctions next week
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#74
Advanced can kicking may have occurred.
Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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#75
Here we go folks, even the NY Times is finally saying the magic words: Double Dip Recession. Getting that rag to even admit that things are bad, means that things are REALLY, REALLY BAD!
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Hillary Clinton Is Like Herpes, "She Wont Go Away" - Anna Paulina
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#76
This second dip recession (and the first one to some extent) is mostly due to fears of... a second dip recession!
The recession wasn't even over that poeple already talked of a second dip! And never stopped talked about it since.
Talks about gov' debt defaults brings what poeple believe will be the next shoe to drop, in a second recession.

Poeple shoul stop relying on gov' interventionism to believe that the economy will be good. Poeple should belive that private business results is what matter. And currently private businesses (small, medium, big and very big) are doing better than what we think.

I don't believe and never believed for one second that gov' spending cuts be it in the US, Greece or Italy or anywhere it is, will slow down the economy significantly.

As Warren Buffet put it: "I would bet heavily against it".

It all depends on enterpreneurship mood. And somehow, recurent market crashes, 3 years of continuous recessions, crisis after crisis and disgust about the banks destroyed it.
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#77
[Image: 110810%20tellalie%20RGB20110811054555.jpg]
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Hillary Clinton Is Like Herpes, "She Wont Go Away" - Anna Paulina
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#78
You can believe what they write or not, but read:

Tami Luhby, On Tuesday August 16, 2011, 12:23 pm EDT - CNNMoney.com Wrote:The Obama administration last December wrangled a one-year payroll tax reduction as part of tax-cut deal with Republicans in Congress. It reduces workers' levy to 4.2% from 6.2%.

Job creation: Will free trade work?

And unemployment benefits were lengthened to the current 99-week maximum in 2009 and reauthorized five times since then, most recently at the end of last year. The deadline to apply for extended federal benefits expires in the first week of January.

These economic programs don't come cheap. The payroll tax cut and unemployment benefits extension cost $112 billion and $56.5 billion, respectively.

But the president feels they are worth the cost. He plugged his economic revival ideas in Minnesota on Monday, the start of a three-day bus trip through the Midwest. Obama highlighted the payroll tax cut, which he said gave the typical family $1,000 more to spend.

"It also means businesses have more customers," he said. "And it means they might hire a few more folks as a consequence."

The payroll tax cut has contributed four-tenths of a percent to economic growth, according to Joel Prakken, senior managing director at Macroeconomic Advisers. And it has lowered the unemployment rate by two-tenths of a percent, or about 300,000 jobs.

"It has been a modest help," he said.

Extending the deadline to file for unemployment benefits once again is a more complicated issue. Some experts say that such long-term support actually keeps the unemployment rate elevated because it discourages people from looking for a job.

There's no question it stimulates spending, however, Prakken said. Extended benefits have likely added to economic growth by up to four-tenths of a percent.

Every dollar of spending on unemployment benefits boosts the economy by $1.60, according to the President's Council of Economic Advisers. A report last year by Congress' Joint Economic Committee found that ending extended benefits would drain the economy of $80 billion and result in the loss of more than 1 million jobs.
link

I guess you will be upset to learn that Obama did make tax cuts and be outraged that someone dared write the unemployement benefits helps the economy.

Even worse for your mood today, Obama's spending spree on unemployement benefit largess cost... $56.5 billion, a tiny portion of the debt increase.
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#79
Ho Hum. The SS tax reduction just worsens the plight of SS recipients in the future. Besides, those paying the payroll tax get far far far more back in benefits than they pay in. So, it is more like buying votes and not really a tax reduction.

Besides, isn't the payroll tax an investment? Do you mean to tell me that BHO reduced the investment in SS?
Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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#80
And just to show the positive results of the Messiah's handiwork on improving the economy, hence leading to job growth,...................
Quote:............Nonfarm payrolls were unchanged last month, the Labor Department said Friday. It was the first time since 1945 that the government has reported a net monthly job change of zero. The August payrolls report was the worst since September 2010, while nonfarm employment for June and July was revised to show 58,000 fewer jobs.

And remember this is the positive spin of the government. It will almost certainly be revised downward after all the hype is over and done.
___________________________________________________________________________________________________
Hillary Clinton Is Like Herpes, "She Wont Go Away" - Anna Paulina
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