Last train to Brokesville

[Sandhusker]

http://www.youtube.com/watch?v=Up1GujDyeJY

 

[Mike]

Jack Welch (we all know who he is) was on the Morning Joe Show this A.M.

Being surrounded at the table by Liberals did not stop him from declaring the farce that Zer0 is perpetuating on the American people by increasing debt loads to all time highs without telling us that taxes must be doubled and/or tripled in just a couple of years, just to pay the interest on that debt.

The deficit accumulated by the U.S. in only a couple of months is more than ALL OTHER ADMINISTRATIONS COMBINED!!!

Now, I know that some will say that the Pres. can appropriate no money.
That is true........But this Dem Congress has given him on a platter everything he has asked for.........bar none............. If he had used his veto power on just two occasions, he would have the world in his hands. But no, he was getting just what he asked for. :roll:

WE TOLD YOU SO!!!!!!!!!!!!!!!!!

 

[MsSage]

I have a question......
When all this hits the fan does the left really think the masses will stand around like they did back in the 30's?
Hmmm I really doubt it all you have to do is look back to New Orleans and that will give you a idea what it will be like in the big cities.

 

[don]

or maybe read some intelligent analysis from a variety of economists.

http://www.rgemonitor.com/roubini-monitor/256863/the_crisis_and_how_to_deal_with_it

 

[Tex]

Jack Welch (we all know who he is) was on the Morning Joe Show this A.M.

Being surrounded at the table by Liberals did not stop him from declaring the farce that Zer0 is perpetuating on the American people by increasing debt loads to all time highs without telling us that taxes must be doubled and/or tripled in just a couple of years, just to pay the interest on that debt.

The deficit accumulated by the U.S. in only a couple of months is more than ALL OTHER ADMINISTRATIONS COMBINED!!!

Now, I know that some will say that the Pres. can appropriate no money.
That is true........But this Dem Congress has given him on a platter everything he has asked for.........bar none............. If he had used his veto power on just two occasions, he would have the world in his hands. But no, he was getting just what he asked for. :roll:

WE TOLD YOU SO!!!!!!!!!!!!!!!!!

What the administration is doing is creating the demand that business operations normally provide. We have had such a slowdown in those business operations that the gov. is picking up the slack with spending. Until we have rising interest rates, we can continue this strategy (business picking up will bring the demand for capital up and increase interest rates).

We can pay for this in two ways: one is to borrow the money, the other is to print it. Printing it would create inflation (which is what some say is the exact thing we need to do in a deflationary period), but it will also decrease the value of the dollar in relation to other currencies. We really need to do this with respect to our trading partners, China mainly, that has huge trade deficits. It will have the effect of decreasing imports and increasing exports -- just what the doctor (or economist) ordered.

We will see the limits of this policy when we start to see inflation and higher interest rates.

Tex

 

[NMRANCHER]

I have a question......
When all this hits the fan does the left really think the masses will stand around like they did back in the 30's?
Hmmm I really doubt it all you have to do is look back to New Orleans and that will give you a idea what it will be like in the big cities.

It may be different. In answer to your question, by the time most Americans wake up to what is going on they will have lost most of their 'Rights' and you will have a very large number of non english speaking men in 'Blue' helmets or berets on every street corner and all the veterans and other so called extremists being carted away to re-education camps.

Sound familiar?

 

[kolanuraven]

I have a question......
When all this hits the fan does the left really think the masses will stand around like they did back in the 30's?
Hmmm I really doubt it all you have to do is look back to New Orleans and that will give you a idea what it will be like in the big cities.

It may be different. In answer to your question, by the time most Americans wake up to what is going on they will have lost most of their 'Rights' and you will have a very large number of non english speaking men in 'Blue' helmets or berets on every street corner and all the veterans and other so called extremists being carted away to re-education camps.

Sound familiar?

Sounds like the aliens got to you there in Roswell NM!!!

 

[Mike]

Jack Welch (we all know who he is) was on the Morning Joe Show this A.M.

Being surrounded at the table by Liberals did not stop him from declaring the farce that Zer0 is perpetuating on the American people by increasing debt loads to all time highs without telling us that taxes must be doubled and/or tripled in just a couple of years, just to pay the interest on that debt.

The deficit accumulated by the U.S. in only a couple of months is more than ALL OTHER ADMINISTRATIONS COMBINED!!!

Now, I know that some will say that the Pres. can appropriate no money.
That is true........But this Dem Congress has given him on a platter everything he has asked for.........bar none............. If he had used his veto power on just two occasions, he would have the world in his hands. But no, he was getting just what he asked for. :roll:

WE TOLD YOU SO!!!!!!!!!!!!!!!!!

What the administration is doing is creating the demand that business operations normally provide. We have had such a slowdown in those business operations that the gov. is picking up the slack with spending. Until we have rising interest rates, we can continue this strategy (business picking up will bring the demand for capital up and increase interest rates).

We can pay for this in two ways: one is to borrow the money, the other is to print it. Printing it would create inflation (which is what some say is the exact thing we need to do in a deflationary period), but it will also decrease the value of the dollar in relation to other currencies. We really need to do this with respect to our trading partners, China mainly, that has huge trade deficits. It will have the effect of decreasing imports and increasing exports -- just what the doctor (or economist) ordered.

We will see the limits of this policy when we start to see inflation and higher interest rates.

Tex

All deflating the dollar will do to China is cause an increase in their hedging by buying U.S. Treasuries as they have done in the past.

This is no way to run a fiscal policy, by deflating your own dollar, that is, because other currencies come in to play as well.

In short, as long as we have a trade imbalance as large as we do with China, they will always keep the yuan below ours as they have done so well in the past......... This in turn hurts us when we buy products from other countries.

You may need to rethink this.............................all that will happen is that China will own all our debt and us too.

 

[MoGal]

or maybe read some intelligent analysis from a variety of economists.

http://www.rgemonitor.com/roubini-monitor/256863/the_crisis_and_how_to_deal_with_it

George Soros is on the Committee of 300 and Krugman is on the Council of Foreign Relations (anyone else noticed all these numnuts who get Nobel Peace prize awards are on the CFR?)

I think this is a more accurate analysis: (an excerpt from the Bill Moyers show)

http://blacklistednews.com/news-3887-0-11-11--.html

 

[Tex]

Jack Welch (we all know who he is) was on the Morning Joe Show this A.M.

Being surrounded at the table by Liberals did not stop him from declaring the farce that Zer0 is perpetuating on the American people by increasing debt loads to all time highs without telling us that taxes must be doubled and/or tripled in just a couple of years, just to pay the interest on that debt.

The deficit accumulated by the U.S. in only a couple of months is more than ALL OTHER ADMINISTRATIONS COMBINED!!!

Now, I know that some will say that the Pres. can appropriate no money.
That is true........But this Dem Congress has given him on a platter everything he has asked for.........bar none............. If he had used his veto power on just two occasions, he would have the world in his hands. But no, he was getting just what he asked for. :roll:

WE TOLD YOU SO!!!!!!!!!!!!!!!!!

What the administration is doing is creating the demand that business operations normally provide. We have had such a slowdown in those business operations that the gov. is picking up the slack with spending. Until we have rising interest rates, we can continue this strategy (business picking up will bring the demand for capital up and increase interest rates).

We can pay for this in two ways: one is to borrow the money, the other is to print it. Printing it would create inflation (which is what some say is the exact thing we need to do in a deflationary period), but it will also decrease the value of the dollar in relation to other currencies. We really need to do this with respect to our trading partners, China mainly, that has huge trade deficits. It will have the effect of decreasing imports and increasing exports -- just what the doctor (or economist) ordered.

We will see the limits of this policy when we start to see inflation and higher interest rates.

Tex

All deflating the dollar will do to China is cause an increase in their hedging by buying U.S. Treasuries as they have done in the past.

This is no way to run a fiscal policy, by deflating your own dollar, that is, because other currencies come in to play as well.

In short, as long as we have a trade imbalance as large as we do with China, they will always keep the yuan below ours as they have done so well in the past......... This in turn hurts us when we buy products from other countries.

You may need to rethink this.............................all that will happen is that China will own all our debt and us too.

yes, Mike, you are right, that is what is what they have done in the past---and try to buy some of our companies we decided we would not let them go through with it.

http://www.telegraph.co.uk/finance/newsbysector/energy/4781037/China-prepares-to-buy-up-foreign-oil-companies.html

I think we should send China all the money in t bills that we owe them in cash. They would have to then spend the money back here in the U.S. or just have paper with a bunch of U.S. presidents on it.

The money means nothing if it can't be spent. It is the same with t bills. China should realize that without a floating yuan, dollars can be as cheap as they make the yuan. The only thing keeping them from this reality is that our dollar is worth something. Would this mean an effective default of our currency? In some ways, yes. Will we have less junk from China and have to make it here at home instead? Yes, after they get wise.

The big problem will be that China can buy all the dollar denominated oil and other world goods in competition with us. We have already given that to them with the foreign trade we have already done. Make those dollar denominated assets worth less by printing money.

The politicians made a deal with the devil. They allowed China to undercut our domestic industries with Chinese goods if China would take the money they earned and put it into t bills to subsidize U.S. interest rates and over borrowing by our government. It is nothing more than paper selling our children into slavery by politicians. Do we have to honor the deal by these politicians?

We have ridden the dollar as a reserve currency with this policy while selling our children's future.

If politicians can not fix this mess they have created, it will get worse. George Orwell's 3 region view of the world will be a reality. In some ways it already is inevitable.

Tex

 

[Anonymous]

or maybe read some intelligent analysis from a variety of economists.

http://www.rgemonitor.com/roubini-monitor/256863/the_crisis_and_how_to_deal_with_it

don- I had a chance to watch this entire forum when they replayed it on C-SPAN today...
Interestingly all but Niall Ferguson, the British historian, think the US government actions of putting major government stimulus into the economy was the best- possibly only direction the country could go when things were allowed to get so bad...

And while they disagree on how fast and how well the country will recover- they brought up that Europe may be in worst shape since they didn't take as aggressive an action- which may leave them like Japan was years ago when they piddled around for years before putting in any government stimulus- and then did it too little too late...

And like Bill Bradley ended the forum with- we have to look at the mistakes that caused this Bush Bust- and fix them- again....

B.B.: As we look at the future, we also have to look at the mistakes policymakers made in the last ten years. It's not news that people are greedy. But we made conscious decisions not to put limits on that natural human impulse. What were the mistakes? In 1999, we allowed investment banks, banks, insurance companies to combine: we eliminated the Glass-Steagall Act, which prohibited commercial banks from operating as investment banks. Why was Glass-Steagall put into law? Because the last time we didn't limit greed we got into trouble, the Great Depression.

The second mistake was in 1999, the explicit decision by the Clinton administration and Congress not to regulate derivatives, in particular credit default swaps. In 2002 they were worth $1 trillion and today they're worth $33 trillion, and that decision not to regulate derivatives created the following sequence: you have mortgages; then a thousand mortgages are packaged and sold as a mortgage-backed security; a thousand mortgage-backed securities are packaged and sold as a collateral debt obligation [CDOs]; then a thousand collateral debt obligations are packaged and sold as a CDO squared; and insuring each one of those bundles are credit default swaps, which are a part of that $33 trillion. And our government deliberately decided not to regulate this chain of investments.

One result was that the 374 people in the London office of AIG who were responsible for AIG derivatives destroyed a company that had 116,000 employees in 120 countries. Why? Because there was no regulation at all.

The third decision was in 2004. The SEC allowed banks to go from 10 to 1 leverage to 30 to 1 leverage. And guess what? Once they were allowed to do it, they did it. So if we're going to look at the future, we might think of undoing those three mistakes.

Finally, we might want to remember that the chairman of the Federal Reserve is supposed to remove the punch bowl from the party when the party gets out of control. And that did not happen in the Greenspan years. The opposite happened.

 

[Mike]

Keynesian economics have never worked. Ask Japan.

 

[Anonymous]

Keynesian economics have never worked. Ask Japan.

If you read the article- they discussed that too....Japan did too little- too late...Never even made a move until 2 years into their economical collapse...

 

[Mike]

Keynesian economics have never worked. Ask Japan.

If you read the article- they discussed that too....Japan did too little- too late...Never even made a move until 2 years into their economical collapse...

And they're still hurting after all the money spent. :lol: :lol: