Let's solve the tax problem without Volcker

[Scataphagos]

Quote from zdreg:

"... this is the price the US is paying for a failed republican leadership inc. bush.

Yup. Had Bush not been such an egocentric, powerhungry ASSHOLE, we probably would never have elected AN EVEN BIGGER ASSHOLE!!

Personally, I'd like to see the Tea Party become powerful enough to elect enough congress members to have control... never happen in my lifetime, but I'd still like to see it.

 

[unretired]

With the Government being the largest employer wouldn't spending cuts damage the economy?

 

[Scataphagos]

Quote from unretired:

With the Government being the largest employer wouldn't spending cuts damage the economy?

Of course. But there are no "painless" nor "low pain" solutions. Better to suffer SOME pain and adjust rather than continue on the same path and BANKRUPT EVERYBODY..

 

[Free Thinker]

Quote from zdreg:

bush and the republicans are to blame. Bush let paulson take control of the bailout with his socialist measures. the republicans nominated a clueless old man for their presidential nominee. Obama more so than hilliary clinton saw the handwriting on the wall. now the US has a president who says he believes in free enterprise while trying to nationalize the financial system.

"NEW ORLEANS – Former House Speaker Newt Gingrich is calling Barack Obama "the most radical president in American history."

http://news.yahoo.com/s/ap/20100409/ap_on_re_us/us_republicans_gingrich_1/print

Gingrich is a potential presidential candidate in 2012 who says his fellow Republicans must work together to stop what he calls Obama's "secular, socialist machine."

this is the price the US is paying for a failed republican leadership inc. bush.

market wise obama/democrats are doing a great job. if it will last time will tell but right now things are looking better:
recent data points:
Luxury sales rose 22.7% (Mastercard SpendingPulse)
• Furniture sales rose 13.8% and appliance sales rose 6.9%
• Auto sales gained 24% from year ago levels (AutoTalk)
• March was the 7th consecutive month of increasing retail sales growth
• Cargo volume at major ports imports is trending towards an 8% increase in April
• Commerce Department’s personal consumption expenditures was $34.7 billion in February, an increase of 0.3% over January — the fifth monthly gain in a row.
• Gasoline demand continues to rise — +1.2% — before the summer driving season.

 

[Anaconda]

Quote from endsongs:

When there is a democratic prez, everybody wants to cut spending and raise taxes. Then, when the repub president comes in, he says : look, we have a balanced budget/surplus so lets raise spending and cut taxes for the wealthy. The cycle then repeats. But, the debt is now so high from deficits that mostly originated under repub presidents that this can't continue much longer.

I'm sorry but WTF are you talking about?

And please don't bring up Clinton, he never balanced any budgets or anything of the sort. That's was just a PR trick.

 

[clacy]

Quote from Anaconda:

I'm sorry but WTF are you talking about?

And please don't bring up Clinton, he never balanced any budgets or anything of the sort. That's was just a PR trick.

Clinton just jumped on the bandwagon that the Republicans and Newt Gingrich created. Now he gets most of the credit though.

 

[Trader666]

Actually, we need to improve education so we don't have morons like you posting BS like this.

Despite the propaganda, some of these scum were insurgents and armed. The Reuters camera men embedded themselves with insurgents so tough for them.

http://mypetjawa.mu.nu/archives/201889.php

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2794444>

Quote from Kicking:

Divert some of those savings to education so we don't have dumb people happily going to war for their government and shooting indiscriminately at civilians

http://www.collateralmurder.com/

 

[clacy]

Quote from Free Thinker:

market wise obama/democrats are doing a great job. if it will last time will tell but right now things are looking better:
recent data points:
Luxury sales rose 22.7% (Mastercard SpendingPulse)
• Furniture sales rose 13.8% and appliance sales rose 6.9%
• Auto sales gained 24% from year ago levels (AutoTalk)
• March was the 7th consecutive month of increasing retail sales growth
• Cargo volume at major ports imports is trending towards an 8% increase in April
• Commerce Department’s personal consumption expenditures was $34.7 billion in February, an increase of 0.3% over January — the fifth monthly gain in a row.
• Gasoline demand continues to rise — +1.2% — before the summer driving season.

Of course those numbers are up significantly. YOY, you're comparing them to one of the lowest points since the depression. Much of that is inventory rebuilding and pent up demand.

Also, if you pump a trillion$$$ of borrowed money into the economy, there will be some short term positive impact on the economy.

Of course any stimulation now will be offset in the future when money that would have normally been spent in the private sector is paid in taxes to pay off our debt.

 

[Anaconda]

Quote from clacy:

Clinton just jumped on the bandwagon that the Republicans and Newt Gingrich created. Now he gets most of the credit though.

What?

Listen, do the research behind how Clinton "balanced" the budget. It's just engineering of the budget report. First, they tucked away the long term liabilities in the footnotes. Second, they moved around inter-government debt to balance the current budget. Little changed during Clinton's years or any other president's post Bretton Woods aside the fact that tax revenues were excellent during the mid to late 1990s and mid to late 1980s.

 

[Free Thinker]

Quote from clacy:


Of course any stimulation now will be offset in the future when money that would have normally been spent in the private sector is paid in taxes to pay off our debt.

maybe, maybe not. the market is smarter than you or i. it is speaking loudly. it likes what it sees.