So is Obama planning on rasing taxes?

[ZZZzzzzzzz]

"Stocks were down sharply Friday after a reading on Midwest manufacturing came in at its lowest level in more than six years and a survey showed consumer confidence at its lowest in 16 years."

You really do need to pull your head out of the sand...

Quote from Yannis:

As a matter of fact, if you look, the economy had a deeper, broader and more steady expansion under Bush than under Clinton, with growth rates reaching into the 7-8% for some quarters, which is unbelievable for a giant of about $14 Trillion currently. That he did despite the two major wars we had to fight and the millions of new immigrants every year. He lowered taxes and spurred investment. Of course we want to export bad jobs and keep the best ones here. What matters, economically, is growth rate per year, and a tame inflationary climate. That's why everybody around the globe wants to come here. Try Europe with their ridiculously strong Euro: same prices as here, IN EUROS, with higher taxes and lower per capita income on average... I wouldn't want to go live there!!

 

[Yannis]

Quote from ZZZzzzzzzz:

"Stocks were down sharply Friday after a reading on Midwest manufacturing came in at its lowest level in more than six years and a survey showed consumer confidence at its lowest in 16 years."

Natural economic ups and downs, goes with the territory. The Midwest has been restructuring their economy for decades, and they still have a lot of work to do, apparently. Same for all of us, that's my point. There's no safe haven, but a free market that changes all the time to compete most effectively.

 

[ZZZzzzzzzz]

So Bush's recession is natural, and there was nothing he could have done to prevent it.

That's the story you are sticking with...

Quote from Yannis:

Natural economic ups and downs, goes with the territory. The Midwest has been restructuring their economy for decades, and they still have a lot of work to do, apparently. Same for all of us, that's my point. There's no safe haven, but a free market that changes all the time to compete most effectively.

 

[Yannis]

Quote from ZZZzzzzzzz:

So Bush's recession is natural, and there was nothing he could have done to prevent it...

First, a recession is defined as two consecutive quarters with negative growth. Not only haven't we had that, but it won't hapen this year, mark my words. What IS going to happen is some slower economic growth, perhaps around 1.5% for the year (although the Government is expecting 2%.)

Second, yes, of course, he could have done a thousand things to prevent it, like I could have bought IBM at 80 not too long ago. It is easy to criticize everything and every one post de facto. Only thing, remember, his economic record is among the very best for a long time, easily matching, perhaps surpassing, Clinton's.

What we need these guys in Washington to do, imo, is to have a good plan, carrying it out with gusto, and reacting to unexpected developments with speed and competence. Even Democrats like Pelosi and Reid credit George W for these traits, and that's why they are so afraid of him.

 

[ZZZzzzzzzz]

"...he (Bush) could have done a thousand things to prevent it..."

Contributory negligence...

It is easy to continue to support Bush, just stick you head in the sand and pretend all is well...

Quote from Yannis:

First, a recession is defined as two consecutive quarters with negative growth. Not only haven't we had that, but it won't hapen this year, mark my words. What IS going to happen is some slower economic growth, perhaps around 1.5% for the year (although the Government is expecting 2%.)

Second, yes, of course, he could have done a thousand things to prevent it, like I could have bought IBM at 80 not too long ago. It is easy to criticize everything and every one post de facto. Only thing, remember, his economic record is among the very best for a long time, easily matching, perhaps surpassing, Clinton's.

What we need these guys in Washington to do, imo, is to have a good plan, carrying it out with gusto, and reacting to unexpected developments with speed and competence. Even Democrats like Pelosi and Reid credit George W for these traits, and that's why they are so afraid of him.

 

[Jayford]

Actually, recessions are a natural ingredient in the business cycle, and they provide an important service. They clean out excesses and inefficiencies so that the economy can continue on to its next leg of growth. Its only within the past few years that the FED has decided to do anything possible (such as sacrificing the dollar) to avoid recession. It will only make things worse in the long run. Extends the pain so to speak instead of just getting it over with. Banks will have crappy balance sheets for GOD knows how long this way. Just one example.

The ironic thing is that it isn't even the FED's job to prop up the economy. Their job is to promote stable prices, and provide liquidity in emergency situations (ie 9-11, Asian currency collapse of 1997, etc). They have morphed to do anything possible to prop up stocks and avoid recession. Soon, it will become apparent that there is little they can do. Interest rates will only do so much.

 

[Dr. Zhivodka]

Soon it become apparent to most that Interest Rates is far from all they do,

Quote from Jayford:

Soon, it will become apparent that there is little they can do. Interest rates will only do so much.

 

[Yannis]

Quote from ZZZzzzzzzz:

"...he (Bush) could have done a thousand things to prevent it..." Contributory negligence... It is easy to continue to support Bush, just stick you head in the sand and pretend all is well...

C'mon Z, read the rest of my paragraph and quote me in context... Or meet me at the Jokes2 thread and I'll show you a thing or two!

 

[murray t turtle]

Quote from Jayford:

First of all, Obama is THE most liberal senator in the country. Period. This is based on his voting record. Its not just opinion. (Source: National Journal, which is non partisan. Not to be confused with the National Review).

He wants to raise taxes across the board for anyone making decent money, and then he wants to blow it on a whole slew of social programs. With a very democratic Congress behind him, it would get ugly.

The scariest thing he wants to do is the cap gains thing. Planning to almost double them! This alone will crash stocks. It will be a disaster for me as well as I am a futures trader so it will dramatically raise my taxes.

Go McCain!

====================
True ,Jayford;
and lots of people say''go McCain'',dont know if its exactly the way you meant it. LOL

In Barak Husein's favor;
he is simply is much more likable than hot tempered Hillary.

Rather see Mike Huckabee win, like Ronald Reagan.

As smooth speaker/style , Barak Hussein is like JFK;
but JFK was a [ proven ] tax cutter, cold warrior/Cuba warrior.Barak has proved he is neither.

Only the mainstream media confuses style with substance.

 

[murray t turtle]

Quote from hughb:

Back in September of 07 Obama was quoted as saying that he would let the Bush tax cuts expire and raise the long term cap gains to 28%, which is 8% higher than it was when Bush cut it. I don't remember his plans for other taxes, but that is enough to make him the worst candidate of the 3.

==========================
Looks like hot tempered Hillary is giving him a close race;
lets see what TX, Ohio does, Hughb.

Monica Crawford , McLaughlin group reporter , on PBS today;
figured Barak Hussein is getting some ''guilty white votes''

She maybe right,'' guilty white votes''

Principled voters of every race helped/voted for Clarence Thomas.Dr Dobson,Christian PHD was right.
Big difference.