Under OBAMA: DEBT & TAXES

[GCSICLRBC]

Quote from monty21:

I hope Congress doesn't pass this.

At the same time, I could see any president doing this now. Gov't is broke. Treasuries won't pay for entire TARP and Bush supported TARP.

The only good thing about this is that there will be less crude oil speculators and they won't drive up prices to $150 a barrel.

http://correspondents.theatlantic.com/conor_clarke/2009/06/what_socialism_looks_like.php

GUYS LIKE ME WILL PUNISH OBAMA & THE U.S. FOR ITS RECKLESSNESS BY:

*Bidding crude & gasoline
*Buying gold
*Buying agricultural comm.
*Selling Bonds & ten-years
*Selling US Dollars against any major currency

When I say 'guys like me' I mean traders.

Right now, I think the USDX has legs up to 83.15 basis June, but after that I'm looking for MORE OF THE SAME.

Stronger energy; weaker bonds; weaker dollar.

Thoughts?

 

[GCSICLRBC]

Quote from clacy:

With all due respect, are you really surprised that Obama wants to increase taxes? What were you thinking when you voted for him? I'm not trying to be a smart ass or say I told you so, I really want to know what about him appealed to you.

As bad as McCain was and believe me when I say that I had to hold my nose when I voted for him, I can't really see how anyone that respects capitalism and wants government to stay out of people's lives, would vote for Barack.

Clacy,

My first choice was RON PAUL (TX). The central bankers can't stand him so he never had a bona fide chance.

McCain scared me on foreign affairs; I didn't think he was fit to be the C.I.C. of the US Armed Forces.

Obama is mentally capable & likely less bellicose on the world stage, which I favored. Also, as a Chicagoan I didn't think he'd target his confiscatory policies at HIS OWN PEOPLE!

 

[pspr]

Actually, anyone who took the time to look into Obama's history knew all this was coming if he was elected.

OBAMA’S POOR JUDGEMENT IN FRIENDS AND MENTORS

Frank Marshall Davis - A Congressional committee on House Un-American Activities accused Davis of involvement in several communist-front organizations. Davis was also involved with drugs and porn in Hawaii.

Obama: Davis was a young Obama mentor in Hawaii. And probably the source of Obama’s drug use. He is mentioned often in Barack’s biography as “Frank”.

Some believe the reason Obama won't release his acutal birth certificate is because it shows Davis is his real father.

http://www.profitbooks.com/blog/index.php/2008/08/nobama-barrack-obama.html

 

[TGregg]

Quote from gigsup:

And people still think he is the messiah sent to save them.

If things go badly, they will turn on him like a pack of wolves.

Not a chance.

The black vote won't turn on him unless he starts acting like a white racist. Baring that unlikely event, they'll vote for him time and time again. It won't matter how bad the economy tanks or how many terrorist nukes go off in American cities, he'll be the best president ever according to the polls of inner city residents. Clinton was.

Just look at Detroit. Been a hellhole for 50 years, but the voters keep electing the same black crooks who keep doing the same things that keep Detroit poor.

The hardcore liberals won't turn away if he send the US down the tubes. They think that we've gotten far too powerful and arrogant and deserve to be taken down several notches. Certainly we should be less powerful than the ultimate liberal ideal - the old USSR. Look at all the dreaming of the Euro replacing the greenback as the world currency. Do not think for a moment that the hard core left will view an American decline as anything but great news.

And finally, who'll people turn too? The GOP will put up somebody even further left of McCain- maybe Hillary should switch parties to get a shot at the Oval Office. Given the choices between voting for one person who wants to spend like mad and maybe not raise taxes a lot (the next GOP choice), and another jerk who wants to spend even more and raise taxes a whole lot, it's tough call - if we're gonna spend our nuts off, then we should tax `em off as well, not leave a massive debt for our grandkids.

 

[clacy]

Quote from TGregg:

Not a chance.

The black vote won't turn on him unless he starts acting like a white racist. Baring that unlikely event, they'll vote for him time and time again. It won't matter how bad the economy tanks or how many terrorist nukes go off in American cities, he'll be the best president ever according to the polls of inner city residents. Clinton was.

Just look at Detroit. Been a hellhole for 50 years, but the voters keep electing the same black crooks who keep doing the same things that keep Detroit poor.

The hardcore liberals won't turn away if he send the US down the tubes. They think that we've gotten far too powerful and arrogant and deserve to be taken down several notches. Certainly we should be less powerful than the ultimate liberal ideal - the old USSR. Look at all the dreaming of the Euro replacing the greenback as the world currency. Do not think for a moment that the hard core left will view an American decline as anything but great news.

And finally, who'll people turn too? The GOP will put up somebody even further left of McCain- maybe Hillary should switch parties to get a shot at the Oval Office. Given the choices between voting for one person who wants to spend like mad and maybe not raise taxes a lot (the next GOP choice), and another jerk who wants to spend even more and raise taxes a whole lot, it's tough call - if we're gonna spend our nuts off, then we should tax `em off as well, not leave a massive debt for our grandkids.

Yes, but you can't get elected POTUS by just blacks, hard core libs and poor people voting for free shit. You still need some of the middle to come over to your side.

As rediculous as McCain was as a candidate and as popular as Barack was he still didn't win by a landslide.

A good GOP candidate that gets back to conservative principles and can communicate (pretty much the exact opposite of McCain) can beat him in 2012.

I think many in the center voted for Barack because they were sick of Bush/Republicans as well as the fact that really Barack was an open canvas to much extent. He had a very short track record and even though there was pleny of history to tie him to radical liberal policies, this was not covered by the mainstream media. So many Barack voters projected their own ideas of what he would govern onto him.

IF and when the Republicans figure out that they can play the low taxes, reduce gov spending and reduce the deficit card, they can beat him.

Things just won't be going smoothly enough in 3.5 years to hand the 2012 election to him. He's going to have to earn it.

Even more importantly, let's hope that the Republicans can at least take back one or both of the houses of congress.

 

[the4xczar]

Remember, the more we become like Western Europe, the more the rest of the world will "like" us...or something.

 

[Free Thinker]

Quote from sprstpd:

I've never understood why there is a tax difference between futures and stocks. If I am trading futures or stocks short term, is there some magical reason why futures traders get a better tax deal than stock traders?

exactly. what took them so long. it was a nice perk while it lasted but there is no economic reason for it.

 

[Lucrum]

Quote from GCSICLRBC:

And I was stupid enough to vote for this communist...

Dumb Ass

Quote from GCSICLRBC:


...McCain scared me on foreign affairs; I didn't think he was fit to be the C.I.C. of the US Armed Forces...

A former navy pilot vs. a community organizer for C.I.C.?

Dumb Ass

Also, as a Chicagoan I didn't think he'd target his confiscatory policies at HIS OWN PEOPLE!

Dumb Ass



Having said that at least your man enough and intelligent enough to realize and admit to making the mistake of voting for King Hussein.

Most of his supporters, will support him no matter what.

 

[monty21]

Quote from GCSICLRBC:

GUYS LIKE ME WILL PUNISH OBAMA & THE U.S. FOR ITS RECKLESSNESS BY:

*Bidding crude & gasoline
*Buying gold
*Buying agricultural comm.
*Selling Bonds & ten-years
*Selling US Dollars against any major currency

When I say 'guys like me' I mean traders.

Right now, I think the USDX has legs up to 83.15 basis June, but after that I'm looking for MORE OF THE SAME.

Stronger energy; weaker bonds; weaker dollar.

Thoughts?

I am all for buying gold.... The money supply has gotten out of control and the Fed system will destroy the dollar. That's why commodities have performed so well.

One thing about the gov't and the markets is that there is a trend towards regulation... for the past 100 so years. (I have a B.A. in political science, emphasizing gov'ts role in the economy).

Jim Rogers is obviously all into commodities, but he made a great point (posted on some other thread)... The S&P 500 has gone up 20%, and the dollar has fallen 20%... the investors have not gained anything. He said that the S&P 500 futures contract can go to 1,500 but what does it mean with a worthless dollar.

All said and done, any equities trade needs to be hedged against the US dollar. That's the tough part. The most conservative bet is to supply yourself with some gold.

I've heard the US gov't reserves are very bullish on gold... counter-intuitive huh?

 

[Sky123987]

you guys do realize our debt is 12 trillion and we owe another 15 some trillion for social security, and another 20 million for healthcare after the baby boomers retire.


Taxes have to be increased, that's the bottom line so stop bitching