U
What happened to all of the doom and gloom economic threads?
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Busybody
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Hey, NIGGER UD, STFU about your BS compromise
HINT: IT’S NOT THE REPUBLICANS. Investor’s Business Daily: Look Who’s Refusing To Compromise To Avoid The Fiscal Cliff.
If President Obama wants to get a deficit deal done to avoid the fiscal cliff, his biggest challenge won’t be Republicans, but his own hard-core left-wing supporters.
Two days after the election, Obama’s favorite economist, Paul Krugman, set the tone for the intransigent left in a column titled: “Let’s not make a deal.” Boiled down, his advice to Obama was this: Don’t give in to any Republican demands, even if doing so would “inflict damage on a still-shaky economy.” After all, Obama would be better positioned to “weather any blowback from economic troubles.”
Krugman’s advice may be disturbingly cold and calculating, but he has plenty of company on the left.
Robert Kuttner, co-founder of the liberal American Prospect magazine, suggests Obama should just sit it out, let all the Bush tax cuts expire, the automatic spending cuts kick in and expect public pressure to force Republicans to give in entirely.
The left-wing Daily Kos called any kind of “grand bargain” between Obama and the GOP a “Great Betrayal.”
And several Democratic lawmakers have suggested that the correct approach would be to let the country go over the fiscal cliff, since that will only strengthen Obama’s position.
Especially since, no matter what, the press apparat will blame the GOP.
HINT: IT’S NOT THE REPUBLICANS. Investor’s Business Daily: Look Who’s Refusing To Compromise To Avoid The Fiscal Cliff.
If President Obama wants to get a deficit deal done to avoid the fiscal cliff, his biggest challenge won’t be Republicans, but his own hard-core left-wing supporters.
Two days after the election, Obama’s favorite economist, Paul Krugman, set the tone for the intransigent left in a column titled: “Let’s not make a deal.” Boiled down, his advice to Obama was this: Don’t give in to any Republican demands, even if doing so would “inflict damage on a still-shaky economy.” After all, Obama would be better positioned to “weather any blowback from economic troubles.”
Krugman’s advice may be disturbingly cold and calculating, but he has plenty of company on the left.
Robert Kuttner, co-founder of the liberal American Prospect magazine, suggests Obama should just sit it out, let all the Bush tax cuts expire, the automatic spending cuts kick in and expect public pressure to force Republicans to give in entirely.
The left-wing Daily Kos called any kind of “grand bargain” between Obama and the GOP a “Great Betrayal.”
And several Democratic lawmakers have suggested that the correct approach would be to let the country go over the fiscal cliff, since that will only strengthen Obama’s position.
Especially since, no matter what, the press apparat will blame the GOP.
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I know, let's raise tax rates in the rich and bring in ten days worth of interest on the national debt.
So now you're interested in the national debt? Just the other day you could care less, choosing instead to focus on the budget deficit.
Did you finally figure out that the two are linked?
Busybody
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we know
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Big Miss In Retail Sales Paints Grim Picture For Holiday Shopping
Submitted by Tyler Durden on 11/14/2012 08:45 -0500
Purchasing Power
Here we go with the "but, but, Sandy" excuses. The just announced October retail sales tumbled, with their worst miss of expectations since May 2010, and the first sequential decline since June: printing at -0.3% for both the headline and the 'ex autos and gas', on expectations of a -0.2% and +0.4% rise. Ignoring for a second that the Commerce Department said that Hurricane Sandy had both positive (remember those massive lines in various stores ahead of Sandy) and negative impacts on retail sales, it would be truly inconceivable for the sellside Wall Street consensus of diploma'ed PhDs, which knew about Sandy's impact on retail sales well in advance, and thus could adjust its numbers, to actually, you know, adjust its numbers. Either way there is no way to spin the longer term major store sales trend (last chart), which shows that the US consumer, out of money, out of credit, and out of savings is entering the holiday season with little to zero disposable spending power.
A sequential decline in virtually everything except General Merchandise sales:
Breakdown by category: oops on cars and building materials:
The biggest miss to expectations for core retail sales since 2010:
Finally, the only chart that matters: the long-term trend in true sales. Not pretty:
And in other news, PPI printed a decline of -0.2% - the first drop since May - on expectations of a 0.2% print and up from 1.1%, on sliding energy costs, even as food PPI was up 0.4%.
The evil, evil deflation is once again coming back, which is good: at least what little money US consumers have will have slightly more purchasing power. At least until the Fed starts outright monetizing $85 billion in total securities starting January.
Submitted by Tyler Durden on 11/14/2012 08:45 -0500
Purchasing Power
Here we go with the "but, but, Sandy" excuses. The just announced October retail sales tumbled, with their worst miss of expectations since May 2010, and the first sequential decline since June: printing at -0.3% for both the headline and the 'ex autos and gas', on expectations of a -0.2% and +0.4% rise. Ignoring for a second that the Commerce Department said that Hurricane Sandy had both positive (remember those massive lines in various stores ahead of Sandy) and negative impacts on retail sales, it would be truly inconceivable for the sellside Wall Street consensus of diploma'ed PhDs, which knew about Sandy's impact on retail sales well in advance, and thus could adjust its numbers, to actually, you know, adjust its numbers. Either way there is no way to spin the longer term major store sales trend (last chart), which shows that the US consumer, out of money, out of credit, and out of savings is entering the holiday season with little to zero disposable spending power.
A sequential decline in virtually everything except General Merchandise sales:
Breakdown by category: oops on cars and building materials:
The biggest miss to expectations for core retail sales since 2010:
Finally, the only chart that matters: the long-term trend in true sales. Not pretty:
And in other news, PPI printed a decline of -0.2% - the first drop since May - on expectations of a 0.2% print and up from 1.1%, on sliding energy costs, even as food PPI was up 0.4%.
The evil, evil deflation is once again coming back, which is good: at least what little money US consumers have will have slightly more purchasing power. At least until the Fed starts outright monetizing $85 billion in total securities starting January.
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mercury14
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No clown., I only mentioned it to illustrate the drop in the bucket a tax on the rich represents against the scope of our economic problems. Go play with your clit and be quiet.
I love the selective hypocrisy. Taxing the rich isn't worth doing because you don't think there's enough money there. But we need to de-fund WIC and Big Bird because well, ya gotta start somewhere and things add up.
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Union Workers Lash Out at Hostess After Plant Closed …(Went on Strike – Now They’re Out of Work)
It’s an Obama world…
Disgruntled unions workers at the Hostess plant in Cincinnati lashed out at the company last night after they found out their plant would be shut down.
They were told the company would close plants if there was a strike.
They went on strike anyway.
Hostess closed three plants yesterday, including the St. Louis plant, after members of the bakers’ union went on strike.
It’s an Obama world…
Disgruntled unions workers at the Hostess plant in Cincinnati lashed out at the company last night after they found out their plant would be shut down.
They were told the company would close plants if there was a strike.
They went on strike anyway.
Hostess closed three plants yesterday, including the St. Louis plant, after members of the bakers’ union went on strike.
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No clown., I only mentioned it to illustrate the drop in the bucket a tax on the rich represents against the scope of our economic problems. Go play with your clit and be quiet.
To reiterate, you don't view raising taxes on the wealthy as the solution. You also think it illogical to cut all spending to zero for a decade-plus it will take to rid ourselves of the debt.
You are therefore left with only one solution, that which consists of both tax hikes and spending cuts.....
Welcome to the Obama camp, schmuck.
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Busybody
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No
NIGGER POON ZANDI!
and even YOU know the difference
and NIGGER POON ZANDI, in case you are a MORON, and dont know the difference, ( I doubt it) or pretend NOT to know
I will tell you
ALL TAX INCREASES cost MORE than they bring in
Spending CUTS are CUTS......
Busybody
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mercury14
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You're talking to people who don't think solutions to things like the deficit should include numbers.
Busybody
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Hey NIGGER POON ZANDI, didya know BIG BIRD et all are owned by DISNEY? Yes you did
Didya know that in 1996, AxelJEWrod said IT SHOULD STOP GETTING GUBMINT $$$? Yes, you did
But by all means
Keep SHIITING
oh, and pretend IM ON IGGY
koalabear
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I bet the MOTroll is out stocking up on twinkies.
koalabear
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koalabear
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Key Yo, Koo Koo Bear(ly)There
NO!
You cant COME in
You're just jealous of my ear-rings.
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