Aces High Bulletin Board
General Forums => The O' Club => Topic started by: easymo on August 11, 2002, 03:50:03 PM
-
Jay Littman
Executive Producer
Registered: May 1999
Location: Research Triangle Park, North Carolina, USA
Posts: 606
Blame for creating the bubble
A 4 % unemployment and a budget surplus so huge it could have paid the national debt down to zero in short order and at the same time funded any alleged shortfall in either Social Security or Medicare, was not a "bubble," it was the Clinton legacy.
Bush intentionally destroyed that legacy because none of it was of interest to the top 1% whose lackey he is. They wanted the surplus taken away from the government and paid to them in tax cuts, which would also reduce the ability of government to fund the agencies policing them. Also, high unemployment is to their liking---it's one of the ways they believe you "discipline" a work force and destroy unionism. It was Bush's willful and intentional destruction of the budget surplus, the Republican Congress' opposition to Clinton's and Levitt's proposals to control corporate accounting, his signaling to his corporate buddies by his own dishonest actions and his gross abuse of campaign fund raising, his proven neglect of national security (see Time magazine this week), and his refusal to intervene in the California power crisis and his getting in bed with the energy companies (which he is still trying to conceal), which has damaged the economy.
A 1% GNP growth last quarter is no Bill or Hillary's fault or even Monica's,
it's Bush.' His role model is Herbert Hoover.
Re-elect Al Gore in 2004!
---------------------------------------------------------------------------------
Is there such a thing as being financially suicidal? I guess WB dont need the business. Lets set politics aside for a moment. Read any thread, any where, that includes the clintons in the subject matter. The emotional level of the negative posts is legendary. Now, one of the highest profile people in that company, tosses a match into this waiting, powder keg. Those people are just plain stupid.
-
Unbelievable.
But I have to admit that I am the first person to expect any kind of stupidity from the team of Albanians running WB now.
AFAIK Mr. Littman isn't an American citizen, or am I wrong? Or at least I bet he's not a native English speaker. I have always thought he's a French-Canadian, as their "chief engineer" mr. Neault... Why should he say anything about US internal politics?
-
That's a good one. Of course, having a price to earning ratio of 70 was cool during the Clinton era too (for those that actually showed a proffit). And those who were in the buisness at the time know when the stock started to slide.
I shook my head for 5 years as people made money off of completely worthless stock in completely worthless companies.
I watched execs make hundreds of millions of dollars off their stock in a company that never showed a proffit and would not last long enough to even give it a run.
Yes... its the Bush administration's fault. They must of had a hand in this somehow.
AKDejaVu
-
Yes... its the Bush administration's fault. They must of had a hand in this somehow.
Yep, by being selected by the surpreme court. Anybody with any forsight got their money out of the market Dec 12th. 2000
-
LOL! Okay.
AKDejaVu
-
"A 1% GNP growth last quarter is no Bill or Hillary's fault or even Monica's,
it's Bush.' His role model is Herbert Hoover"
and who was slick willie's ... Calvin Coolidge?
-
First of all who’s Jay Littman?
A 4 % unemployment and a budget surplus so huge it could have paid the national debt down to zero in short order and at the same time funded any alleged shortfall in either Social Security or Medicare, was not a "bubble," it was the Clinton legacy.
So far, this statement is true. They could’ve paid off the national debt, shored up Social Security had a prescription drug benefit for seniors AND a modest tax cut.
Bush intentionally destroyed that legacy because none of it was of interest to the top 1% whose lackey he is. They wanted the surplus taken away from the government and paid to them in tax cuts, which would also reduce the ability of government to fund the agencies policing them. Also, high unemployment is to their liking---it's one of the ways they believe you "discipline" a work force and destroy unionism
Here he’s trying to speculate on what motives the corporationists might have had. Its true GWB is only the front man Cheney runs the show. Also destroying the surplus reduces the ability of government to fund all kinds of stuff not just agencies policing them like the SEC. I have heard from other places about keeping unemployment high in order to keep workers from getting “uppity”.
and his refusal to intervene in the California power crisis and his getting in bed with the energy companies (which he is still trying to conceal), which has damaged the economy.
Now this is a biggie here. Not really Bush doing this it was Cheney. 30 billion dollar rip off of California Cheney knew about it. This is one of the big turns for the economy and it happened in the first weeks of this administration. Couple that with Cheney manipulating OPEC in April ’99 to decrease oil production all had an effect.
A 1% GNP growth last quarter is no Bill or Hillary's fault or even Monica's,
it's Bush.' His role model is Herbert Hoover
LOL this administration is actually three times worse than Hoover’s first 18 months.
-
You guys are going to ware you fingers out, pointing at each other.
Am I the only one that finds it astonishing that the "spokesman" for WB would jump into this?
-
Why wouldn't he have an oppinion too easymo?
As for pointing fingers... not everyone is doing it. I think its just as funny as you do.
I think the 90's were an incredible era of blind investing and ignorance. New buyers (the internet) and new areas of investment (the internet) layed the groundwork for a spending spree that should have made everyone "in the know" blush. Greenspan really tried to warn people as early as 97 that things were just getting out of hand, but we were enjoying the "booming" economy.
Gotta love it when the bubble bursts. You also have to love it when people think the bubble didn't burst until Bush took office.
AKDejaVu
-
The tulip bulb mania in 17th-century Holland is a particularly colorful example of a speculative bubble. Replace the tulip with .Com’s.
-
I have heard from other places about keeping unemployment high in order to keep workers from getting “uppity”.
This is ignorant. Being unemployed tends to make people "uppity".
Now this is a biggie here. Not really Bush doing this it was Cheney. 30 billion dollar rip off of California Cheney knew about it. This is one of the big turns for the economy and it happened in the first weeks of this administration.
Again, this is ignorant. California made some bad choices all by themselves. Had they made good choices, no "bail outs" would have been necessary.
-
The budget 'surplus' was based on ridiculous projections of capital gains from the stock market. It is no coincidence that the budget deficit disappeared at the same time the market bubble was at it biggest, then reappeared as soon as the bubble burst.
The idea that a lousy $40 billion dollar tax rebate caused $300 billion dollar drop in federal inflows is leftist math. I'll never understand why some people think high taxes are good. Just throw your money into a bonfire, leave the rest of us alone.
ra
-
Originally posted by 10Bears
I have heard from other places
Errrr...that would be the other voices in your head.
Cobra
-
Again, this is ignorant. California made some bad choices all by themselves. Had they made good choices, no "bail outs" would have been necessary
Kieran, you haven’t been following the news.. the California energy crisis was a complete fraud.. Put on by Duke, Reliant, and Enron. Dick Cheney knew all this. He knew it when he came on TV to tell Californians it was all their fault. This went on for six months from Jan to June when price caps were finally put back in place. This must be what you mean by “bail out”. Later, we find out all these guys were all gaming the system, Cheney was in cahoots with them. There was never a need for new power plants. Because of this massive fraud, California is in court right now to have some of those billions forgiven due to fact that they were victims of crime.
All this had a very real effect on the economy, this and Dick Cheney as head of Halliburton convincing the heads of OPEC in April 1999 to decrease production of oil. The rise in fuel prices didn’t hit until the summer of 2000 coincidently during the campaign. Of course the rise in fuel prices were blamed on Clinton/Gore.
Kieran, rather than call others ignorant, you might educate yourself by doing some research.
Cobra, don’t skin turtles in the room here boy... take em’ outside
-
Assuming you are right about California (and I will confess, I have not listened to news much this summer), what about your worker comment? Explain how making people unemployed keeps them from getting uppity? What are these sources?
You have to admit, that is pretty... foolish. Working people with money in their pockets spend it. They are happy when they have money to spend. Big corporations like it, too, because those workers spend money on the products they produce. They ask for fewer entitlements from the government, which by the way would otherwise be funded on the backs of the fewer people working AND the corporations. It is just a silly comment upon any examination at all. I suppose you must be assuming those workers will be grateful for any work at all, but once again, that just doesn't cut it.
You'll also pardon me for not taking your word on the Cheney deal- I would rather look it up myself. You've somewhat of a biased opinion on the topic to say the least. You've pretty much painted the Bush administration as the boogeyman quite often.
-
FERC has said that flawed rules for California's deregulated electricity market contributed to dramatic price rises and power shortages in 2000 and 2001. It also is investigating alleged manipulation of prices by Enron Corp. and other energy companies.
Sounds to me like I might be right after all... not that Cheney didn't have a hand in what happened afterward...
-
during the "great budget surplus" the govt was still selling govt bonds, explane why the govt had to brorrow money when it had a "surplus"?
-
Originally posted by Kieran
Again, this is ignorant. California made some bad choices all by themselves. Had they made good choices, no "bail outs" would have been necessary.
The whole thing should have remained controlled by the public and the state should have rejected Gov. Wilson's deregulation.
The regulated City of Los Angeles DWP has had no problems providing its customers with cheap power. The market rigging in the rest of the state by Enron and others is well documented and only those on their payroll (like Cheney) or those who have no concept of the public good (also like Cheney) continue to defend them.
Meanwhile, rednecks sucking on the tit of the federal TVA or other socialist rural electric programs (investments paid for by California and the rest of the country) squeak that California didn't deregulate 'enough'.
-
Also, it is pretty dumb to discuss your controversial religious or political views with your customers :)
-
old joke about Saddam thought some may use it later.
Saddam is sitting at table having a coffe reading the US today newspaper. Headlines read " Saddam Hussin Biggest prettythanghole in world". He turns to his wife and says Honey do you think i'm biggest ahole in world. Well she knows if she answers he will kill her. so she says why don't you ask your magic mirror on the wall in your bedroom. so he goes in bedroom and says mirror on the wall am i the biggest prettythanghole of all? His wife can't hear the answer but he comes out with a dumbfounded look on his face and turns to her and asked" who in the %!#^!^ is IEN"
-
Originally posted by sidthekid
old joke about Saddam thought some may use it later.
Saddam is sitting at table having a coffe reading the US today newspaper. Headlines read " Saddam Hussin Biggest prettythanghole in world". He turns to his wife and says Honey do you think i'm biggest ahole in world. Well she knows if she answers he will kill her. so she says why don't you ask your magic mirror on the wall in your bedroom. so he goes in bedroom and says mirror on the wall am i the biggest prettythanghole of all? His wife can't hear the answer but he comes out with a dumbfounded look on his face and turns to her and asked" who in the %!#^!^ is IEN"
ROFLMAO (wipin tears) Sid u fuggin killing me:D :D :D
-
Explain how making people unemployed keeps them from getting uppity? What are these sources?
Who knows Kieran I’ve heard that theory before. Class structure in a classless society. Execs not wanting workers to look them in the eye.. Gated communities They not wanting regular folk to stand one on one.. Strange world. It seems bizarre to me that CEO’s would willfully defraud stockholders knowing full well they wouldn’t be able to keep up this accounting scam for long.. Not only would it ruin their company, it could tear down the entire economy. What drives that?.. Greed?.. plain and simple?.. I think it’s more than that --control, power. It’s late I don’t have the answer.. Like Cobra says... I need my meds.
But your right Jay doesn’t need to express his political views. It would be like Hitech weighing in on religion or politics on this forum. Never seen him do it.
-
At least nobody ever paid near 50% taxes to Hoover.
As technology advances to increase producivity & potentially make our lives more relaxing & enjoyable (lower toil fraction), governments quickly follow, collecting any gains made and turning it into perks & power for themselves
-
10Bears,
Nah, I'll skin 'em here, son.
Cobra
-
Burn the Witch!!! :rolleyes:
-
But your right Jay doesn’t need to express his political views. It would be like Hitech weighing in on religion or politics on this forum. Never seen him do it.
I never said this. Jay can say whatever he wants, and I will judge the comment on its merits alone. Everyone is allowed an opinion about the way their country runs as far as I'm concerned.
I think you are attributing this to me in error.