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On trading earlier today. Its down around 300 now. This hasn't happened since 1978 if I recall from an article I read yesterday. I thought the great orator was going to save the world with his big "deal" the dems hoisted upon the world? Apparently not. Now what? I can't wait for the calls of QE III and more stimulous by these complete and utter idiots.
What better time than now to pray to Jesus to help the stock market zoom into prosperity! Prayer always works, doesn't it?
Why would we want to add another trillion to the debt?
And there's the rub................no matter what we do from a partisan viewpoint, we've likely reached the point of damned if you do, damned if you dont.
Do you really think anything can stop this house of cards (the economy) from falling down in a heap of smoldering ruin?
Regardless of what happens...the important things stay intact!
what all good, decent Americans know; NFL and college football are just around the corner.
(not sure of this has been discussed in this thread)
I was just listening to the nightly news, and depending on the jobs report tomorrow it will be a huge tell-tale signas to what happens next. Is there anything out on that? I think it is safe to assume it will not be appealing.
On trading earlier today. Its down around 300 now. This hasn't happened since 1978 if I recall from an article I read yesterday. I thought the great orator was going to save the world with his big "deal" the dems hoisted upon the world? Apparently not. Now what? I can't wait for the calls of QE III and more stimulous by these complete and utter idiots.
What is that you think hasn't happened since 1978?
And how exactly, is the Tea Party to blame? There was no default (although now we know there WILL be default in the next year or two, since Washington will keep borrowing until our credit rating IS downgraded and the dollar loses reserve currency status). And they failed to get any significant cuts in the massive government overspending that has doomed our economy and our nation.
Democrats got what they want, and as usual the resulting mess is blamed on those who tried to stop it. At this point the Tea Party and Libertarians might as well let the liberal Democrats destroy the nation and economy, since by trying to stop it, they simply share ownership in the resulting disaster. It's too late to do anything but wait for the crash.
The economy will remain in stasis until it collapses, for several reasons. First, our leaders gave away our manufacturing sector to China thanks to Free Trade, and it won't come back. An economy can't survive without an engine that produces wealth, like manufacturing. A finance-based economy, with no engine, is doomed to fail, which is why every nation that abandons manufacturing goes into decline and eventual collapse.
Second, the job market that created the Middle Class was intricately linked to the manufacturing economy. When we gave away one, we gave away both. We will not have Middle Class in the future, as every job today that pays anything is either outsourced, or reduced in compensation to where it cannot support an adult, let alone a family. And without the spending of our former Middle Class, the entire world economy stays in permanent Recession/Depression.
Finally, we are left with only Big Business in the economy. They use government regulation and taxation to prevent competition (while exempting themselves by buying politicians), and have complete control of every industry that gets paid first or is highly profitable--banking, investment, energy, utilities, health care, food, transportation, etc. Small business is left trying to survive on the discretionary income people have left after taxes and living expenses (restaurants, retail). Small business also gets those businesses that are a lot of trouble and risk, and very small profit margin. So these are the first to fail during Recessions. With the destruction of the power of labor, few of us have any discretionary income anymore, so small business has been largely destroyed as the economy failed. With small business the largest employer and job creator in the economy, the labor force is further reduced.
So our "new" economy allows only Big Business to survive. But even Big Business is in a hold pattern, thanks largely to our wonderful President. The leaders of Business are not shy in admitting they are holding onto over $1 trillion in cash, instead of hiring or investing. They dare not hire or invest while our unpredictable President still has two more years to come up with new costs and regulations that will inevitably further punish them for doing so:
"...this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right." Wynn CEO Goes On Epic Anti-Obama Rant On Company Conference Call
"U.S. corporate taxes are second most expensive in the world, ranking only behind Japan's. Many economists say that those rates are one of the primary reasons that hundreds of U.S. businesses have fled overseas, where tax burdens are lower. But, as with other regulatory burdens, it's not just the high rate at which his company is taxed that leads to the exodus. It's the complexity of the process itself." Could Simplifying Corporate Taxes Help Save the Economy? - FoxNews.com
"...government intervention has created enough uncertainty in the future profitability of the manufacturing sector, that businesses are hesitant to invest new money in American manufacturing. According to estimates from the Federal Reserve 23.3% of American industrial capacity is going unused. The Obama administration’s policies of high taxation and regulation have created an environment where businesses are afraid to invest money out of fear that their profits will be taxed and regulated away." The Real Threat to American Manufacturing | FreedomWorks
Sorry, but the Tea Party can't be blamed for not reducing the Washington Spending Machine. Nor can it be blamed for the awful economy that we will suffer through, until fiscal conservatives and Libertarians create a workable economy from the ashes of the failed Socialist experiment.
Regardless of what happens...the important things stay intact!
what all good, decent Americans know; NFL and college football are just around the corner.
And there's the rub................no matter what we do from a partisan viewpoint, we've likely reached the point of damned if you do, damned if you dont.
Do you really think anything can stop this house of cards (the economy) from falling down in a heap of smoldering ruin?
YC.......
CBO is partisan now?
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