Aces High Bulletin Board
General Forums => The O' Club => Topic started by: MORAY37 on September 16, 2008, 03:50:57 AM
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I mean seriously.... McCain up there, telling everyone that the economy is "fundamentally strong", and while his words are echoing throughout the hall, the markets are falling through the biggest drop since the day trading started after 9/11. You really can't be serious about this guy. He himself admits he doesn't understand the economy at all. Many economists are of the opinion that if the Fed hadn't thrown alot of money at the problem today, the Dow may have dropped 1,200 to 2,000 points.
Funny that at the very next stop on his trail today, he insisted he was talking about the american worker, when he said the "fundamentals were strong."(and also heard the news about the markets collapsing) People aren't "fundamentals", by the way. They can be fundamentalists, but not fundamentals. Then he proceeded to bash his opponent, saying that if he says "the fundamentals aren't strong", then he's "not on the side of the american worker". Give him credit, he's got balls....
His number one economic advisor, Phill Gramm, is a main reason WHY we have this issue to start out with. He inserted the legislation into the budget that made deregulation of the mortgage market a reality. Phil is also the leading candidate to become Sec Treasury in a McCain administration... Who also said America is a "nation of whiners".
The unemployment rate has steadily increased over the past 24 months. (Now at 6.1%)
The unemployment rate rose from 5.7 to 6.1 percent in Augusthttp://www.bls.gov/cps/ (http://www.bls.gov/cps/)
Industrial production has fallen by it's largest drop in 5 years.
Industrial production decreased 1.1 percent in August and was revised down in June and July to show smaller gains of 0.2 percent and 0.1 percent respectively. After little movement over the previous three months, factory output was down 1.0 percent in August, in part because of a drop of 11.9 percent in the production of motor vehicles and parts. Excluding motor vehicles and parts, the index for manufacturing decreased 0.3 percent. The output of mines declined 0.4 percent, and the output of utilities fell 3.2 percent, as temperatures in August were unseasonably mild. http://www.federalreserve.gov/releases/g17/current/ (http://www.federalreserve.gov/releases/g17/current/)
Really? Another four years of this? What will be left of this proud nation? :frown:
Also, where are you when Carl Rove says this...
http://www.youtube.com/watch?v=DNdtZGqZA2Y (http://www.youtube.com/watch?v=DNdtZGqZA2Y)
McCain has gone, in some of his ads, gone one step too far in sort of attributing to Obama things that are, you know, beyond the 100% truth test.
"I didn't decide to run for president to start a national crusade for the political reforms I believed in or to run a campaign as if it were some grand act of patriotism. In truth, I wanted to be president because it had become my ambition to be president ... In truth, I'd had the ambition for a long time."
- John McCain (from his autobiography)
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I hope you arent implying we are in a Recession. Because the economy is still climbing. I hope you know that.
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The U.S is in a recession. please keep repeating it. I'm still waiting for the stock prices to go down a bit more.
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Recession is a steady decline over a period of 2 months. Things were much 'worse' over the summer, and the economy was still growing.
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I have money in the bank. For me higher interest rates, a slower housing market and a slower market i general will put even more money in my account. Sheit happens for those who have borrowed beyond their means but thats not my problem.
Hopefully some day people will learn, but i wont hold my breath :)
Oh and to McCanes defence he is prolly not any worse or better than his competition.
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John McCain's exact words were "the economy is in crisis, but the fundamentals are Strong, and I believe in the American worker." His whole point was what that small business were the way out of this. Not bailing out greedy companies that played roulette with our money.
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John McCain's exact words were "the economy is in crisis, but the fundamentals are Strong, and I believe in the American worker." His whole point was what that small business were the way out of this. Not bailing out greedy companies that played roulette with our money.
Thanks a lot for killing this thread pal. :mad:
:devil
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obama wants to fix the economy by raising taxes, yeah, that will work. :O
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obama wants to fix the economy by raising taxes, yeah, that will work.
You mean by repealing the Bush tax cuts and giving a tax break to people who make less than $225.000 a year. Also by helping business owners with health insurance costs. Yeah that sounds horrible.
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You mean by repealing the Bush tax cuts and giving a tax break to people who make less than $225.000 a year. Also by helping business owners with health insurance costs. Yeah that sounds horrible.
When talking about this very thing this morning, Biden, when told that the Obama tax plan "sounds like wealth redistrobution" said, "call it what you like."
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Obama tax plan "sounds like wealth redistrobution" said, "call it what you like."
You have a point, you could call it investing in America or if you like old pancakes or monkey shoes. Point is, if you make less than $225k a year, then your getting a break on your taxes. How me getting a break on my taxes equates to wealth distribution is beyond me, I thought it was my money I was getting to save.
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You have a point, you could call it investing in America or if you like old pancakes or monkey shoes. Point is, if you make less than $225k a year, then your getting a break on your taxes. How me getting a break on my taxes equates to wealth distribution is beyond me, I thought it was my money I was getting to save.
So you don't plan on ever breaking that 225k level. How sad...
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. How me getting a break on my taxes equates to wealth distribution is beyond me, I thought it was my money I was getting to save.
Because even though your getting a tax break, those making over 225k get taxed more, in other words wealthy people are covering the cost of the not so wealthy.
Sounds good to anyone getting the break, but what happens when they re define wealthy and lower 225k to 100k, then to 50k. It's not a good idea.
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Thats like saying cheap gas is really bad because it might cost more if they decide to up the price.
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Because even though your getting a tax break, those making over 225k get taxed more, in other words wealthy people are covering the cost of the not so wealthy.
Sounds good to anyone getting the break, but what happens when they re define wealthy and lower 225k to 100k, then to 50k. It's not a good idea.
The taxes will go back to what they where when we had a bipartisan plan to balance the US budget. It's a repeal of the Bush tax cuts. Seeing as 90% of Americans will get a tax break, I think it's a great idea.
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hell...until the brokers start jumping off highrise buildings I intend to just keep on going about my daily business.
Unfortunately McCain is right......the financial market needs sensible regulation restored in order to keep the greedy bastards honest. Greed is the number one killer of a free market economy.
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hell...until the brokers start jumping off highrise buildings I intend to just keep on going about my daily business.
Unfortunately McCain is right......the financial market needs sensible regulation restored in order to keep the greedy bastards honest. Greed is the number one killer of a free market economy.
I completely agree... a sensible amount of regulation is in order. However, I somehow doubt that will become a reality when Mr. McCain relies on Phil Gramm for his economic advice. He's been advocating complete deregulation for the past decade, and slipped the current deregulation responsible for the current crisis into the budget in the dead of night prior to the vote on the budget the next day. McCain isn't going to do it himself.... he doesn't understand it, those are his own words.
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John McCain's exact words were "the economy is in crisis, but the fundamentals are Strong, and I believe in the American worker." His whole point was what that small business were the way out of this. Not bailing out greedy companies that played roulette with our money.
Those were his exact words in his second speech of the day. You know, after his advisors let him know that the markets were all plunging. He simply changed it to "american worker" in order to look less out of touch.
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i laugh when obama says he wont raise taxes on less then 250k YEA RIGHT. He raises taxes on 250k or greater
which means most all businesses. your really think they wont raise prices?? lol in the end he is raising taxes
on the working/low income classes.
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I hope you arent implying we are in a Recession. Because the economy is still climbing. I hope you know that.
By what measuring stick are you using, please? Any backup to that statement?
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McCain isn't going to do it himself.... he doesn't understand it, those are his own words.
Your being unfair, but that's OK. Professional Economists have a hell of a difficult time trying to understand the economy. Rarely can you get two of them to agree on anything.
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Moray, the legislation that set this failure in motion has Clinton's autograph on it. Biden is the clown that turned the credit card companies loose. Chris Dodd, another democrat, has been the ranking member and head of the banking committee. Your 'boyz' hands are far from clean on this... it was their watch too.
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It all started with Reagan's deregulation of the SnL's...
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It all started with Reagan's deregulation of the SnL's...
I just knew it somehow had to be Reagan's fault. I just knew it.
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It all started with Reagan's deregulation of the SnL's...
Nope. Nice try MT. Started with a democrat. Point remains.. this is not a partisan failure. Both sides of the isle have contributed to this... time to get a new set of senators and new congressmen. lets not send a single incumbent back to capitol hill.
Much of the deregulation of banking/credit started with Carter in 1978. The Regan administration continued the trend in 88. Almost every administration has had their hand in deregulation and easing of oversight on the financial community. Money well spent by lobbyists. I think we should pull all the pot heads out of jail and replace them with politicians.
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I completely agree... a sensible amount of regulation is in order. However, I somehow doubt that will become a reality when Mr. McCain relies on Phil Gramm for his economic advice. He's been advocating complete deregulation for the past decade, and slipped the current deregulation responsible for the current crisis into the budget in the dead of night prior to the vote on the budget the next day. McCain isn't going to do it himself.... he doesn't understand it, those are his own words.
Phil Gramm may have slipped the legislation into the budget, but Congress and the President approved it.
For the record, I am not in favor of tacking things onto the budget or other bills, you want something? Get your own legislation passed.
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It all started with Reagan's deregulation of the SnL's...
I think now at last we can drink from the bottom glass in the "Trickle Down" Theory
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I think now at last we can drink from the bottom glass in the "Trickle Down" Theory
I do expect you'll enjoy the taste.. there's plenty of democratic urine & feces floating in it.
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when republicans are in office, thee debt goes up and the rich get richer and the middle income pay for it all. When democrats are in office, the debt gets paid, the rich are still rich and the middle income folks feel there is a fighting chance. :aok
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when republicans are in office, thee debt goes up and the rich get richer and the middle income pay for it all. When democrats are in office, the debt gets paid, the rich are still rich and the middle income folks feel there is a fighting chance. :aok
The last time the federal budget was balanced, Newt was Speaker of the House.
Why is this important?
Because CONGRESS is reponsible for taxing, spending and borrowing.
The National Debt is the responsibility of CONGRESS
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I mean seriously.... McCain up there, telling everyone that the economy is "fundamentally strong", and while his words are echoing throughout the hall, the markets are falling through the biggest drop since the day trading started after 9/11. You really can't be serious about this guy. He himself admits he doesn't understand the economy at all. Many economists are of the opinion that if the Fed hadn't thrown alot of money at the problem today, the Dow may have dropped 1,200 to 2,000 points.
Funny that at the very next stop on his trail today, he insisted he was talking about the american worker, when he said the "fundamentals were strong."(and also heard the news about the markets collapsing) People aren't "fundamentals", by the way. They can be fundamentalists, but not fundamentals. Then he proceeded to bash his opponent, saying that if he says "the fundamentals aren't strong", then he's "not on the side of the american worker". Give him credit, he's got balls....
His number one economic advisor, Phill Gramm, is a main reason WHY we have this issue to start out with. He inserted the legislation into the budget that made deregulation of the mortgage market a reality. Phil is also the leading candidate to become Sec Treasury in a McCain administration... Who also said America is a "nation of whiners".
The unemployment rate has steadily increased over the past 24 months. (Now at 6.1%)Industrial production has fallen by it's largest drop in 5 years.
Really? Another four years of this? What will be left of this proud nation? :frown:
Also, where are you when Carl Rove says this...
http://www.youtube.com/watch?v=DNdtZGqZA2Y (http://www.youtube.com/watch?v=DNdtZGqZA2Y)
McCain is just whacked, he has no clue nor idea about economy
NOW, just remember, the very man who claims the economy is strong,. (Bush's past words noted) the cery same man in the very beginning on the camp said himself he has no idea about economy. So we're suppose to listen to a man who admits not having a clue about economy telling us it's just fine??????
Me thinks he's just saying what the Rep party wants him to say, obviously he's right about himself, clueless to anything economy.
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Those were his exact words in his second speech of the day. You know, after his advisors let him know that the markets were all plunging. He simply changed it to "american worker" in order to look less out of touch.
zactly
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zactly
The sound bite:
"Our economy, I think still—the fundamentals of our economy are strong." —John McCain, speaking on the morning of September 15
With some more context:
"You know," said McCain, "there's been tremendous turmoil in our financial markets and Wall Street and it is -- people are frightened by these events. Our economy, I think, still the fundamentals of our economy are strong. But these are very, very difficult times. And I promise you, we will never put America in this position again. We will clean up Wall Street. We will reform government."--John McCain, speaking on the morning of September 15
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McCain is so obviosuly the best choice, but I accept that there are alot of misinformed and just plain stupid people out there.
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The more digging we (as the electorate) do, the more obvious Holdens points come across as irrefutable.
The disease we call government has a focal point... 'patient zero' is congress. We need to get Pelosi and Reid out, we need 2 term plus senators and congressmen out, we need the regulatory body of congress to get and understand the mandate of the people.. start doing their jobs.
Get 'em out!
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That's a bunch of BS, the Democrat congress have a majority with Joe Lieberman in there. They are reeling from 6 years of unrestricted spending, to suddenly having Bush veto everything that comes across his desk. You can't blame them for the short comings of this administration. It's impossible for them to get anything done under the partisan climate that we currently have. Luckily I think McCain or Obama will end that.
It's just more of the Republican, anyone's fault but mine syndrome.
Here Yeager I corrected that for you.
Obama is so obviously the best choice, but I accept that there are a lot of misinformed and just plain stupid people out there.
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That's a bunch of BS, the Democrat congress have a majority with Joe Lieberman in there. They are reeling from 6 years of unrestricted spending, to suddenly having Bush veto everything that comes across his desk. You can't blame them for the short comings of this administration. It's impossible for them to get anything done under the partisan climate that we currently have. Luckily I think McCain or Obama will end that.
It's just more of the Republican, anyone's fault but mine syndrome.
Not quite correct.
http://uspolitics.about.com/od/electionissues/tp/Bush-Vetos.htm (http://uspolitics.about.com/od/electionissues/tp/Bush-Vetos.htm)
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Here Yeager I corrected that for you.
Im surprised you got my point! or did you :aok
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They are reeling from 6 years of unrestricted spending, to suddenly having Bush veto everything that comes across his desk.
How many items that have come across his desk have received the veto stamp?
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Was listening to Rush today, according to him this entire financial mess is the fault of Bill Clinton and Robert Rubin, that should end all discussion.
shamus
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Was listening to Rush today, according to him this entire financial mess is the fault of Bill Clinton and Robert Rubin, that should end all discussion.
shamus
How so?
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How so?
Cuz everything negative is Bill Clintons fault and thinking folks should know it.
shamus
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Well Rush is usually right and if you know otherwise prove it without resorting to insults and BS.
I look at the economic situation like this: The economy was strong but just the hint of a Congress full of Dems and the fact that there is no true Republican in the race for POTUS and the rumor that the Dems might not ever let go of power equates to economic decline.
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Well Rush is usually right and if you know otherwise prove it without resorting to insults and BS.
I look at the economic situation like this: The economy was strong but just the hint of a Congress full of Dems and the fact that there is no true Republican in the race for POTUS and the rumor that the Dems might not ever let go of power equates to economic decline.
I rest my case.
shamus
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Was listening to Rush today, according to him this entire financial mess is the fault of Bill Clinton and Robert Rubin, that should end all discussion.
shamus
Actually, you need to read more and listen to windbags less.
Rubin is probably keeping us out of a freefall right now. Phil Graham is the idiot that got us here, with Greenspan's help initially.
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Sorry Challenge... I consider Rush as much of an extremist arsewipe as Oblerman, Air Amerika, etc.
Anything coming off his desk is more than suspect.
The electorate needs to find it's own arse with it's own hands for a change.
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Sorry...that top water got slammed from both directions :rofl
shamus
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Limbaugh is equivalent to Obermann?
Please! Thats like comparring a fine scotch to pisswater.
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enough of either will get yah in a hospital. ;)
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Whether its tainted or straight stuff he is usually right. Shamus you and Moray both didnt follow directions.
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Well, the following points may appear to be somewhat disjointed, cause my workday started at 5:30, and I'm tired...but here goes.
1. There's a lot of overblown rhetoric about the economy floating around in the news and on the blogs. Fact: The end is not here.
2. We are not in the worst financial crisis in decades.
3. This "financial crisis" is not like the Great Depression. Gore made that statement in 1992, and Obama an almost identical statement yesterday. Unemployment during the 1930s averaged 25% nationally. In some cities in the old Steel Belt it was over 50%. Currently, it's about 6%. So gimme a break.
4. The Stock Market Crash of 1929 did NOT cause the Great Depression. I don't know what type of history they teach at Hahvahd, but if a student of mine had studied that era of history and written a paper that came to that conclusion I'd have given them an F for the course. That financial calamity was caused by a plethora of economic problems, stemming from national and international factors.
5. McCain is right, the real strength of the economy does not rest with Wall Street; it's in the hands of the American worker and private business, and they are still going strong.
6. The "Palin Approach" to solving the crisis in our lending institutions is the correct one; let those that did NOT practice any SELF-regulation in their lending practices sink. NO government bailout should be forthcoming.
7. On the front page of the papers just last week; GDP grew by 2% last quarter.
8. The Dow has already begun to rally, closing up by 142 pts. today.
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"Fundamentally strong" Then he clarifies "The American worker is the hardest working ...in the world". Trouble is the American worker can't do much when corporations give 100-200 million dollar checks to CEO's. This is quite similar to the airline bailouts. They all paid their CEO big checks then went begging to Congress. Congress bailed them out.
Today he called for a "Blue ribbon commission". Seems we've heard that one before. Political appointee's checking up on political appointee's. More of the same ol'BS.
They should be commenting on how the Federal reserve is just a mouthpiece for the administration.
Neither candidate has a clue about this. Billions in bail out money, 9 trillion debt, 400billion deficit, over 50% of every tax dollar collected goes to servicing the debt. Foreign governments holding the notes. And nothing concrete from either Obama or McCain.
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Chalenge, he is a talking head of the first degree, on par with Jon Stewart, entertaining with a following.
They both make some good points, but read between the lines man!!!
If you are gonna sit there and say he is right and take offense when someone calls him on an obvious screwy partisan comment, well I dont know.
shamus
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Well, the following points may appear to be somewhat disjointed, cause my workday started at 5:30, and I'm tired...but here goes.
1. There's a lot of overblown rhetoric about the economy floating around in the news and on the blogs. Fact: The end is not here.
2. We are not in the worst financial crisis in decades.
3. This "financial crisis" is not like the Great Depression. Gore made that statement in 1992, and Obama an almost identical statement yesterday. Unemployment during the 1930s averaged 25% nationally. In some cities in the old Steel Belt it was over 50%. Currently, it's about 6%. So gimme a break.
4. The Stock Market Crash of 1929 did NOT cause the Great Depression. I don't know what type of history they teach at Hahvahd, but if a student of mine had studied that era of history and written a paper that came to that conclusion I'd have given them an F for the course. That financial calamity was caused by a plethora of economic problems, stemming from national and international factors.
5. McCain is right, the real strength of the economy does not rest with Wall Street; it's in the hands of the American worker and private business, and they are still going strong.
6. The "Palin Approach" to solving the crisis in our lending institutions is the correct one; let those that did NOT practice any SELF-regulation in their lending practices sink. NO government bailout should be forthcoming.
7. On the front page of the papers just last week; GDP grew by 2% last quarter.
8. The Dow has already begun to rally, closing up by 142 pts. today.
Much of the doom and gloom is the political season. We may not be in the "worst financial position in decades" but there are some severe problems that will not go away. IF these problems are not fixed THEN the downward trend will continue. THEN the doom and gloom brigade will be right. That's a big IF. I trust that our elected officials will protect their phony baloney jobs and fix some of these problems. Its too much to expect that they will fix much, they will do just enough till the next end of the world comes.
Those saying we are in a recession are doing a disservice to all they serve(media and politicians) Recession; 2 or more successive quarters with zero or lower growth. Current American economy; in a slowdown not a recession.
As for the stock market crash; Money problems are a symptom of a greater problem. Usually over spending or other bad financial habits. So accepting that premise, the stock market crash was but a symptom of financial irregularities.
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"Fundamentally strong" Then he clarifies "The American worker is the hardest working ...in the world". Trouble is the American worker can't do much when corporations give 100-200 million dollar checks to CEO's.
100 to 200 million dollar checks should be reserved for Yankee third basemen.
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Bankers in control of printing money = National Debt = more taxes for Joe Shmo.
'nuff said.
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Well, the following points may appear to be somewhat disjointed, cause my workday started at 5:30, and I'm tired...but here goes.
1. There's a lot of overblown rhetoric about the economy floating around in the news and on the blogs. Fact: The end is not here.
2. We are not in the worst financial crisis in decades.
3. This "financial crisis" is not like the Great Depression. Gore made that statement in 1992, and Obama an almost identical statement yesterday. Unemployment during the 1930s averaged 25% nationally. In some cities in the old Steel Belt it was over 50%. Currently, it's about 6%. So gimme a break.
4. The Stock Market Crash of 1929 did NOT cause the Great Depression. I don't know what type of history they teach at Hahvahd, but if a student of mine had studied that era of history and written a paper that came to that conclusion I'd have given them an F for the course. That financial calamity was caused by a plethora of economic problems, stemming from national and international factors.
5. McCain is right, the real strength of the economy does not rest with Wall Street; it's in the hands of the American worker and private business, and they are still going strong.
6. The "Palin Approach" to solving the crisis in our lending institutions is the correct one; let those that did NOT practice any SELF-regulation in their lending practices sink. NO government bailout should be forthcoming.
7. On the front page of the papers just last week; GDP grew by 2% last quarter.
8. The Dow has already begun to rally, closing up by 142 pts. today.
Nice post Shuckins, no one wants to hear the truth though.
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Well, the following points may appear to be somewhat disjointed, cause my workday started at 5:30, and I'm tired...but here goes.
1. There's a lot of overblown rhetoric about the economy floating around in the news and on the blogs. Fact: The end is not here.
2. We are not in the worst financial crisis in decades. Although, comparing McCain's speech to Herbert Hoover...does get kind of interesting. He said almost word for word, what Mr. McCain did yesterday.
3. This "financial crisis" is not like the Great Depression. Gore made that statement in 1992, and Obama an almost identical statement yesterday. Unemployment during the 1930s averaged 25% nationally. In some cities in the old Steel Belt it was over 50%. Currently, it's about 6%. So gimme a break.
4. The Stock Market Crash of 1929 did NOT cause the Great Depression. I don't know what type of history they teach at Hahvahd, but if a student of mine had studied that era of history and written a paper that came to that conclusion I'd have given them an F for the course. That financial calamity was caused by a plethora of economic problems, stemming from national and international factors.
5. McCain is right, the real strength of the economy does not rest with Wall Street; it's in the hands of the American worker and private business, and they are still going strong.
6. The "Palin Approach" to solving the crisis in our lending institutions is the correct one; let those that did NOT practice any SELF-regulation in their lending practices sink. NO government bailout should be forthcoming.
7. On the front page of the papers just last week; GDP grew by 2% last quarter.
8. The Dow has already begun to rally, closing up by 142 pts. today.
1: I agree. If we don't get it taken care of though, the end could be beginning.
2: Name a financial crisis, worse, within 50 years.
3: Yes the Great Depression this isn't. We aren't in a depression yet. Those figures on unemployment were at its' height, not its' onset. At its' onset, the jobless rate climbed very slowly.... until it started going out of control.
4: No the stock market crash didn't cause the depression. It was caused BY the onset of the depression. The depression was caused by many of the same things that are working hard to unravel the system now... DEREGULATION.
5: Unemployment has been rising steadily for 5 years. I don't call that a strength. Also, most top shelf jobs (white collar and Industry) have been replaced by Service sector jobs.... which contribute nothing to the Economy, only redistribute dollars.
6: "Palin approach"? Unreal. A year ago this chick is sitting in a basement in Wasilla OK'ing traffic lights.... and now she's your saviour?
7: GDP went up due to lowering of imports, not a resurgence in manufacturing. Manufacturing slowed in the last quarter, but due to the weak dollar, many overseas importers are buying U.S. goods that are on-hand. You really need to look past the front end of things.
8: Rallying up is a good start.... and the only reason it did so is the huge influx of dollars the Fed is injecting into the propping up of the mortgage industry. The markets are still down 4% over the past two days, and the trading was incredibly volatile today, up 175 then down 200...Be interesting to see what happens to the Nikkei and the European markets tomorrow.
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2. The financial crisis of the Carter Years was far worse: double-digit inflation, interest rates near 20%. In terms of how it impacted the common Joe, this crisis can't even begin to compare.
4. You're dead wrong on this one. Deregulation had very little to do with the Depression, which started overseas and was exacerbated by economic events at home: Declining foreign markets for manufactured goods as well as farm products (Cotton, for instance, was selling for roughly a quarter of what it had at the end of WW I). Overproduction stockpiled manufactured goods in warehouses because foreign markets dried up. Deregulation played a secondary part in that crisis, due mainly to some bright boys trying to corner the market (Of gold, I believe, though my memory may not be accurate on this.)
5. Pfft! I don't call a growth in unemployment from 5 to 6% worth screaming about. That falls well within the range of average swings due to periodic fluctuations in economic growth. That could well turn around within a single economic quarter. The statement that the economy is producing only service sector jobs, which produce nothing for the economy is a fallacy, which has been proved false by the continued growth of the economy and federal tax revenues. The U.S. still has the largest and most vital economy in world history, and it continues to grow.
6. I prefer the "Palin Approach" to the "Obama Approach" which promises to spend massive amounts of taxpayer money to bail out the rogue lending institutions. Unreal, only X number of years ago this dude was sitting in the Illinois State Legislature, voting "present" on every controversial bill that crossed his desk, and accepting credit for other senators bills.
7 & 8. Welp, the economy is driven by a number of engines, and the change in foreign trade due to the weak dollar is definitely one of them. But it is not the whole picture by any means. Nor is the market rally due solely to the influx of federal bailout dollars. Not bad arguments though. What's your source?
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Our economy goes to the gym 3 nights a week.
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The taxes will go back to what they where when we had a bipartisan plan to balance the US budget. It's a repeal of the Bush tax cuts. Seeing as 90% of Americans will get a tax break, I think it's a great idea.
Only problem is 40% of Americans pay no taxes at ALL (and the first 10% pays half of ALL taxes, thanks to endless mantras of 'tax-breaks for the rich')
Am I the only one who is nervous about a country where the vast voting majority is voting to confiscate money from the rich minority and give it to lesser earners?
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Deep knee-bends? It needs to strengthen its underpinnings.
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2: Name a financial crisis, worse, within 50 years.
1987 the stock market plunged 25% in a single day.
AIG bailout is reminicent of Chrysler and S & Ls
WJClinton was elected because of "the worst economy in 50 years"
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Our economy goes to the gym 3 nights a week.
splain?
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1987 the stock market plunged 25% in a single day.
AIG bailout is reminicent of Chrysler and S & Ls
WJClinton was elected because of "the worst economy in 50 years"
In fairness, AIG has a liquidity problem, not an insolvency problem
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In fairness, AIG has a liquidity problem, not an insolvency problem
More of a management problem. Lack of liquidity is a symptom of financial mismanagement. Rules of financial management aren't complex. They just require some discipline.
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In fairness, AIG has a liquidity problem, not an insolvency problem
That's just silly, if that were true they would just sell an asset or two and not have to run to the government for salvation.
shamus
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That's just silly, if that were true they would just sell an asset or two and not have to run to the government for salvation.
shamus
On the level AIG exists at, there are very few that are going to be willing to tackle the amount of cash needed to ensure AIG's survival. The repercussions of an AIG collapse would be felt far beyond the borders of the US.
Let's just hope that the idiots in charge of this debacle actually face some form of punishment instead of being issued golden parachutes.
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splain?
English?
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Our economy goes to the gym 3 nights a week.
True, but only to ogle the wimmin.
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Dow's currently down.... 375 points as of right now. Hmmm.
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I want to axe you a question.....mind if I axe you a question?
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yes... no.... what??
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I was axing him to splain what he meant and he called me english, man.
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oh.. well that's unnerstansible.
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Only problem is 40% of Americans pay no taxes at ALL (and the first 10% pays half of ALL taxes, thanks to endless mantras of 'tax-breaks for the rich')
Am I the only one who is nervous about a country where the vast voting majority is voting to confiscate money from the rich minority and give it to lesser earners?
Nope, That has never made sense to me. Class envy that is. You have to remember that initially tax was 1% and then only on the top 10% of the wealthiest. Now it goes right down to the bottom. Even your children. So if they do raise taxes on the wealthy it will some amazing way creep down to everyone. I think the last I heard is that Obama wanted to raise taxes as far down as 22k. Also, one of the reasons why the great depression lasted so long was that they raised the taxes on the wealthy to 90%. So no investing was done and hince no growth. Then they were taking to court because their effective rate was only 70%. Pretty sad.
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What? No more wonderful posts about the bounceback of the Markets? Oh yeah, that must be cuz they dropped another 4% today.
470 points off the dow.....
Thats a subtraction of around 900 points, or 7.5% in three days. (two huge drops as the buns between that teeny 140 gain) Speculation that the Fed just might have to PRINT more money JUST TO COVER THE AIG BAILOUT. Yep, the fundamentals sure are strong........
WAMU next in line? The first failure of a major american bank in 30 odd years?
LOL, now McCain today says he supports regulation of the markets. 26 years promoting deregulation, and he changes his position in two days. Unreal.
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What? No more wonderful posts about the bounceback of the Markets? Oh yeah, that must be cuz they dropped another 4% today.
470 points off the dow.....
Thats a subtraction of around 900 points, or 7.5% in three days. (two huge drops as the buns between that teeny 140 gain) Speculation that the Fed just might have to PRINT more money JUST TO COVER THE AIG BAILOUT. Yep, the fundamentals sure are strong........
WAMU next in line? The first failure of a major american bank in 70 odd years?
LOL, now McCain today says he supports regulation of the markets. 26 years promoting deregulation, and he changes his position in two days. Unreal.
pretty much.......yup. :aok
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What? No more wonderful posts about the bounceback of the Markets? Oh yeah, that must be cuz they dropped another 4% today.
470 points off the dow.....
Thats a subtraction of around 900 points, or 7.5% in three days. (two huge drops as the buns between that teeny 140 gain) Speculation that the Fed just might have to PRINT more money JUST TO COVER THE AIG BAILOUT. Yep, the fundamentals sure are strong........
WAMU next in line? The first failure of a major american bank in 30 odd years?
LOL, now McCain today says he supports regulation of the markets. 26 years promoting deregulation, and he changes his position in two days. Unreal.
Hmmm...my mortgage is with WAMU...I suppose it getting 'lost' is a bit much to hope for :) In fairness to McCain, there IS video of him on the senate floor in '95 warnibng everyone who would listen about Fannie/Freddie
If you can stand long, boring analysis, this article explains why we are WHERE we are today
http://www.heritage.org/Research/Economy/HL516.cfm
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Welp, it all makes my 3% savings account look solid.
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In light of this......
In fairness to McCain, there IS video of him on the senate floor in '95 warnibng everyone who would listen about Fannie/Freddie
I'm guessing this...isn't so accurate....
LOL, now McCain today says he supports regulation of the markets. 26 years promoting deregulation, and he changes his position in two days. Unreal.
Say it was completely true that he supported deregulation of the markets. After seeing these major lenders go under would it be unreasonable to change one's mind?
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In light of this......
I'm guessing this...isn't so accurate....
Say it was completely true that he supported deregulation of the markets. After seeing these major lenders go under would it be unreasonable to change one's mind?
Yeah - it is quite appropriate to change your mind- for instance - I told my 6 year old daughter to quit teasing the dog - she gets nervous and might nip at you, but she knew better, it was funny and she benefited from the laughing as the dog barked at her... 2 band aids later - she finally understood..... all it takes is a little warning and reality being forced upon you to change your mind....
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The soviets never had this problem damnit.
wtf
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The soviets never had this problem damnit.
wtf
True, they just shot each other, or got their opponents sent to Siberia. :uhoh
:D
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In light of this......
I'm guessing this...isn't so accurate....
Say it was completely true that he supported deregulation of the markets. After seeing these major lenders go under would it be unreasonable to change one's mind?
I'm guessing you didn't do your homework on McCain if you think my post is inaccurate. He has tried to deregulate the economy since he took office 26 years ago.
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I bet Moray is really sour over the fact that the DOW rose a little over 400 pts today...
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I bet Moray is really sour over the fact that the DOW rose a little over 400 pts today...
and since when a market index is related to reality ?
Especially the Dow witch is dead rotten since the 20's ,SPX or NYA are more accurate.
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and since when a market index is related to reality ?
Then why does this thread exist?
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and since when a market index is related to reality ?
Especially the Dow witch is dead rotten since the 20's ,SPX or NYA are more accurate.
I'll stick with what was posted in the thread.
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let reformulate :
and since when this* market index is related to reality ?
*speaking obviously of the Dow Jones
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let reformulate :
and since when this* market index is related to reality ?
*speaking obviously of the Dow Jones
Ok Mr. Financial Wizard.
If it is so irrelevant, why is it one of the most referred to Indexes?
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let reformulate :
and since when this* market index is related to reality ?
*speaking obviously of the Dow Jones
Then why does this thread, McCain Boasts Economy Strong..While Dow and S&P both drop 5%, exist?
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Ok Mr. Financial Wizard.
If it is so irrelevant, why is it one of the most referred to Indexes?
Because for lot of people it's still the reference ,like you know some 200 year after the creation of the meter some people still use inches.
Holden I quoted bodhi's post ,see the difference ?
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Because for lot of people it's still the reference ,like you know some 200 year after the creation of the meter some people still use inches.
You embody all that I dislike in egotistical French people. :rolleyes:
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You embody all that I dislike in egotistical French people. :rolleyes:
what's wrong with you ?
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Because for lot of people it's still the reference ,like you know some 200 year after the creation of the meter some people still use inches.
Holden I quoted bodhi's post ,see the difference ?
let reformulate :
and since when this* market index is related to reality ?
*speaking obviously of the Dow Jones
That's a quote from Bodhi? I thought it was your restion to Bodhi speaking of a 400 point rise in the dow today.
My mistake.
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what's wrong with you ?
I am not a tolerant person. Especially of Yuropeans that have overly high opinions of themselves.
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No, that's not true, you just don't like being contradicted , the fact I've a little bit more knowledge than you isn't important.
The only important think for you currently is your bruised ego.
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You mean by repealing the Bush tax cuts and giving a tax break to people who make less than $225.000 a year. Also by helping business owners with health insurance costs. Yeah that sounds horrible.
Are you serious? If they tax the 'rich' it just makes it back down to the middle class. Tax cuts are good.