What happened to all of the doom and gloom economic threads?

4est_4est_Gump said:

A 2006 article in The Washington Post titled "Old Money, New Money Flee France and Its Wealth Tax" pointed out some of the harm caused by France's wealth tax. The article gave examples of how the tax caused capital flight, brain drain, loss of jobs, and, ultimately, a net loss in tax revenue. Among other things, the article stated, "Éric Pichet, author of a French tax guide, estimates the wealth tax earns the government about $2.6 billion a year but has cost the country more than $125 billion in capital flight since 1998."[6][7]

Due to valuation and accounting difficulties, wealth taxes systems have high management costs, for both the taxpayer and the administrating authorities, compared to other taxes. Per one study in the Netherlands the aggregated cost of the tax’s yield was roughly five times that of income tax.[8]

Wiki

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4est_4est_Gump said:

There you go again.

Anything that is not of your "opinion" is "right-wing."

What should I do? Stuff it into a mattress? Cash out and take the tax hit?

The idea that the economy has gotten better belies the numbers, you point to subsets and underperformance as being in the black, but ignore the people numbers which are decidedly in the red; a historical number of people have lost hope for any transformative change.

If you think that this is a healthy economy, then Japan's economy must appear to you to be a robust and booming economy, but I see a nation that went down the path of Obama and Europe before us with exactly the same economic plan that created a Lost Decade and has yet to produce any sort of a recovery, and I predicted two years or more ago that this was going to be the path that Obama was going to lead us on, and, in fact, he has, for he would rather have benefits than true growth for purely LEFT-WING ideological goals and you have been very supportive of him and have vociferously defended his course. Trying to claim otherwise goes past the small sin, of which you have often been guilty of, of lying to us and transgresses into the unpardonable sin of lying to yourself. I still must, in a friendly manner, insist that you seek some professional help and get some balance into your life and shed some of the negativity and hate. It is simply not warranted...

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vetteman said:

Not at all clown. rich people in Maryland have done what rich people in California have done, all the butt covering by those responsible notwithstanding.

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mercury14 said:

So it's decided, you think your own opinion is worthless. After all, you're betting your life's assets against your own political and economic beliefs. And WTF is this about cashing out and taking the hit? The Dow is at 12,736 right now. What, did you just buy in when it was 13,300?

Nope, never said the economy is healthy. It's a recovering economy facing a lot of challenges.

And yeah I'm laughing at you and your ilk for dismissing numbers such as an 8.5% swing in GDP.

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China's trade surplus hit a 3-year high this month as import growth plunged. That setup raises many questions.

First, let's consider the initial story. Bloomberg reports China’s Import Growth Misses Estimates for June

China’s imports rose less than anticipated in June, pushing the trade surplus to a three-year high and adding pressure on the government to support demand as the global economy slows.

Inbound shipments increased 6.3 percent from a year earlier, the customs bureau said in a statement today in Beijing, compared with the 11 percent median estimate in a Bloomberg News survey of 32 economists. Export growth slowed to 11.3 percent and the trade surplus rose to $31.7 billion.

Rising surpluses may further strain trade relations with the U.S., which surpassed the European Union in the first half as China’s biggest foreign market and is in the midst of a presidential election marked by criticism of the Asian nation.

The country’s trade surplus with the U.S. and lack of currency gains have been issues in the U.S. election campaign this year, as American job growth slowed last quarter. Mitt Romney, the Republican presidential candidate, has criticized President Barack Obama as too soft on China. At the same time, Obama has expanded trade complaints against the nation: Last week he accused it of imposing unfair taxes on American vehicles, mostly from General Motors Co. and Chrysler Group LLC.

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4est_4est_Gump said:

Also, when we speak of flight, it is not always a physical flight but is more often the unwillingness to gamble any additional capital when the punishment for profit outweighs the reward to the possessor of the capital.

We see this when you cheer for the markets inflating and when we do not add enough jobs to keep up with population growth and we see increases in temp hiring; what you see as "growth," we "evil right-wingers" see as capital flight from the economy.

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4est_4est_Gump said:

It's not "recovering."

It's heading back into recession, only a blind partisan would look at the month-to-month numbers and decide to come to the opposite conclusion.

I never intimated that mine own opinion was worthless, but that I allow people who dedicate their lives to finances assist me with sound advice and part of that advice is how to invest CONSIDERING my outlook on the economic trends of the left-wing polity of "fairness..."

If you ask your government to treat someone "fairly," the only way it can ever accomplish that task is to treat someone "unfairly."
A_J, the Stupid

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mercury14 said:

If you think we're about to go back into a recession then answer these questions:

1) Why aren't you cashed out?

2) Why hasn't the stock market tanked? Or is Wall Street just a bunch of blind leftists partisans?

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mercury14 said:

... and so starts AJ's daily commentary about how supply side economics creates jobs. He just can't point to any times when it's done so. The Bush tax cuts on the rich promptly allowed the rich to become much richer while job growth immediately stagnated.

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4est_4est_Gump said:

post #14961



Wall Street is a herd and now also a protection racket since they are buying and selling corporations that now, for the most part, know that their Fascist partners believe them too big to fail...

... and eventually, yes it will collapse, how far, how deep, when, no one can say because no one can measure the panic in advance, that's Praxeology doll.

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mercury14 said:

Oh so your theory is that Wall Street just doesn't know how to invest. But wow, YOU know better than all of 'em!

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vetteman said:

Obama is the great destroyer.

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4est_4est_Gump said:

Just a catch-phrase and a serious charge which allows you to pigeon-hole and ascribe a cartoonish belief system to those who you wish to attack with ad hominem.

Bush had better job growth than Obama.

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4est_4est_Gump said:

More ascription...

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4est_4est_Gump said:

Why don't you have a theory merc?



Too wussy to put your belief system on display? only able to attack others? Hmmmm???

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4est_4est_Gump said:

More ascription...

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mercury14 said:

No it's not. Your position is that Wall Street is unwise and blind. But YOU can see clearly.

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