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

[koalabear]

You would spend a long time searching for something that doesn't exist moron.

So falling back on the ill fitting fat jokes again Little bear?

Fucking boring dumbass, at least try to use some insults that actually fit.

Iggy me then stupid fuck.

 

[Luk]

You two should get a room.

 

[mercury14]

So you are completely full of shit then. No surprise here.

Now you're going to pull a Cade and try to say Mercury is my alt because we happen to post in the same thread? LMAO..

Jesus, not only are you a liar, but a lying idiot.

You're the only liberal who knows about this thread though. So I must be your alt.

 

[mercury14]

Iggy me then stupid fuck.

It's too much hassle to iggy you with both of my accounts.

 

[mercury14]

My stocks are booming. Stupid hopeless economy.

 

[Ulaven_Demorte]

My stocks are booming. Stupid hopeless economy.

Funny, so are mine.

But then I was buying like mad when the market was down around 6K while the "Right" was lamenting the fruits of their economic policies and selling to buy gold like good little Beck / Limbaugh nitwit drones.

 

[tonythom]

I've been just reading this stuff,,

Life Answers

 

[mercury14]

Funny, so are mine.

But then I was buying like mad when the market was down around 6K while the "Right" was lamenting the fruits of their economic policies and selling to buy gold like good little Beck / Limbaugh nitwit drones.

There's nothing like a heaping helping of "ZOMG BUY GOLD NOW" fearmongering from the right.... Nothing at all.

 

[trysail]

The world is voting with its feet ( no wonder ). The fiscal and monetary profligacy of the U.S. is obvious. Irresponsibility has consequences.

http://research.stlouisfed.org/fred2/graph/fredgraph.png?&chart_type=line&graph_id=30392&category_id=0&recession_bars=Off&width=630&height=378&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=false&fo=ve&id=DEXSZUS,DEXCAUS,DEXUSEU&transformation=lin,lin,lin&scale=Left,Left,Left&range=Max,Max,Max&cosd=1971-01-04,1971-01-04,1999-01-04&coed=2010-10-01,2010-10-01,2010-10-01&line_color=%230000FF,%23FF0000,%23006600&link_values=,,&mark_type=NONE,NONE,NONE&mw=4,4,4&line_style=Solid,Solid,Solid&lw=1,1,1&vintage_date=2010-10-07,2010-10-07,2010-10-07&revision_date=2010-10-07,2010-10-07,2010-10-07&mma=0,0,0&nd=,,&ost=,,&oet=,,&fml=a,a,1%2Fa


http://research.stlouisfed.org/fred2/graph/fredgraph.png?&chart_type=line&graph_id=30394&category_id=0&recession_bars=On&width=630&height=378&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=false&fo=ve&id=GS10&transformation=lin&scale=Left&range=Max&cosd=1953-04-01&coed=2010-09-01&line_color=%230000FF&link_values=&mark_type=NONE&mw=4&line_style=Solid&lw=1&vintage_date=2010-10-07&revision_date=2010-10-07&mma=0&nd=&ost=&oet=&fml=a


http://research.stlouisfed.org/fred2/graph/fredgraph.png?&chart_type=line&graph_id=30395&category_id=0&recession_bars=On&width=630&height=378&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=false&fo=ve&id=CPIAUCSL&transformation=lin&scale=Left&range=Max&cosd=1947-01-01&coed=2010-08-01&line_color=%230000FF&link_values=&mark_type=NONE&mw=4&line_style=Solid&lw=1&vintage_date=2010-10-07&revision_date=2010-10-07&mma=0&nd=&ost=&oet=&fml=a​

Look at this graph ( below ). It's the portrait of a heroin junkie.

When you keep the Fed Funds rate below the rate of inflation ( as did Greenspan from '01 through '06 and now Bernanke from '08-'10 ), you encourage bubbles, spendthrift behavior and imprudence. The government is essentially stealing from its citizenry.

http://research.stlouisfed.org/fred2/graph/fredgraph.png?&chart_type=line&graph_id=30397&category_id=0&recession_bars=Off&width=630&height=378&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=false&fo=ve&id=CPIAUCSL_FEDFUNDS&transformation=ch1_lin&scale=Left&range=Max&cosd=1954-07-01&coed=2010-08-01&line_color=%230000FF&link_values=&mark_type=NONE&mw=4&line_style=Solid&lw=1&vintage_date=2010-10-07_2010-10-07&revision_date=2010-10-07_2010-10-07&mma=0&nd=_&ost=&oet=&fml=b-a
​

 

[Frisco_Slug_Esq]

I think we might be in a stock bubble now...




End of year profit-taking. Who knows what the lame-duck Congress will do to your profits? They sure as hell will be angry enough to try and extract some payback and Obama is assembling a new team to use his new powers to end-run the Congress and any efforts at reforming his spending even as he points the flying fickle finger of fate at them.

Nothing left to lose,
And now I'm losing you...

 

[Ulaven_Demorte]

I think we might be in a stock bubble now...

End of year profit-taking. Who knows what the lame-duck Congress will do to your profits? They sure as hell will be angry enough to try and extract some payback and Obama is assembling a new team to use his new powers to end-run the Congress and any efforts at reforming his spending even as he points the flying fickle finger of fate at them.

Nothing left to lose,
And now I'm losing you...

You just can't seem to make up your mind huh Cap'n?

It's a bubble! It's inflation! it's deflation! It's angry payback!

 

[Frisco_Slug_Esq]

You can have both.


We have learned two things in the past week.

The all-important lagging indicator was "deflated" and the Fed is openly TELLING US that they are going to inflate the money supply.

Seems gloomy to us.

Seems like doom to the jobless.

It's apparent that you will do whatever it take to avoid reality because YOU are not hurting and don't have to admit, your opinions of Obama might have been inflated with a tad too much optimism.
__________________
"You can avoid reality, but you cannot avoid the consequences of avoiding reality."
Ayn Rand

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
John Maynard Keynes

 

[Frisco_Slug_Esq]

What? Did I say something?




Where's the usual return snark?

Bloom off the rose?

 

[trysail]

http://noir.bloomberg.com/apps/news?pid=20601103&sid=akB_IZ1E7ulg


Greenspan Says U.S. Creating ‘Scary’ Deficit as Borrowing Rises
By Caroline Salas and Thomas Keene

Oct. 8 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said the U.S. fiscal deficit is “scary” and the federal government needs to cut spending on entitlements.

“We’re involved in a dangerous game,” Greenspan said yesterday at a foreign-exchange conference in New York sponsored by Bloomberg LP, the parent of Bloomberg News. “We’re increasing the debt held by the public at a pace that is closing” the gap between our debt and “any measure of borrowing capacity,” Greenspan said. “That cushion is growing very narrow.”

U.S. companies may be holding back on investment because of the rising federal deficit, which causes uncertainty about future tax policies, Greenspan said in an opinion article for the Financial Times this week. Weak investment by businesses in capital equipment and fixed assets has helped to crimp the U.S. economic recovery, he said.

“You need” austerity, said Greenspan, a paid speaker at the event. “We’re going to have to start to cut” from government entitlement programs, he said, adding that reducing the budget is better than raising taxes in closing the U.S. budget deficit. Still, Greenspan reiterated that he supports allowing tax cuts enacted under President George W. Bush to lapse at the end of 2010.

The White House Office of Management and Budget in July projected the deficit for fiscal 2010, which ended Sept. 30, at $1.47 trillion and the gap for fiscal 2011 at $1.42 trillion. President Barack Obama formed a commission in February charged with presenting a plan by Dec. 1 on how to reduce deficits over the next decade.

Succeeded by Bernanke
Greenspan, 84, was chairman of the Fed from 1987 until 2006, when he was succeeded by Ben S. Bernanke.

“It is crucially important that we put U.S. fiscal policy on a sustainable path,” Bernanke said in an Oct. 4 speech.

“The only real question” is whether adjustments to taxes and spending will come from a “careful and deliberative process” or from a “rapid and painful response to a looming or actual fiscal crisis,” Bernanke said in Providence, Rhode Island. U.S. lawmakers should consider adopting rules that limit federal spending or debt, he said.

Greenspan said that if the Fed decides to expand its balance sheet through purchases of bonds, a process known as quantitative easing, it may not be enough to get “money moving” and spur growth in the U.S. economy.

Should the Fed increase “excess reserves and they just sit there on the asset side of commercial banks’ balance sheets not being relent, you’ve merely gone through an interesting bookkeeping exercise,” Greenspan said. “You’ve got to break that psychology that prevents that current trillion” in reserves from being relent, he said.

Record Low
Two-year Treasury yields fell to the lowest ever yesterday, setting or matching a record for a fifth consecutive day. Investors have stepped up bets that the Fed will resume buying bonds to keep borrowing costs low.

“It is very difficult to think through the scenario by which you induce” commercial banks to lend, Greenspan said. “If you don’t do this, quantitative easing can’t do anything to speak of.”

U.S. central bankers have kept their benchmark lending rate near zero for almost two years. In March, they finished $1.7 trillion in purchases of Treasuries, mortgage-backed securities and housing agency bonds.

A slowdown in growth in the middle two quarters of this year prompted the Federal Open Market Committee last month to warn that inflation rates were “somewhat below” its mandate to achieve stable prices and full employment.

New York Fed President William Dudley, who is also vice chairman of the FOMC, went further in an Oct. 1 speech when he called current levels of unemployment and inflation “unacceptable.”

“Further action is likely to be warranted,” Dudley said

 

[RightField]

There's nothing like a heaping helping of "ZOMG BUY GOLD NOW" fearmongering from the right.... Nothing at all.

There's nothing like sticking your head in the sand in the face of uncomfortable facts either.

 

[Frisco_Slug_Esq]

More gold for us, more inflated dollars for Dem...

 

[Frisco_Slug_Esq]

We have and idea for you U_D.




Now would be an EXCELLENT time for you to begin posting Doom and Gloom threads about the pain of Republican Austerity plans...



Don't forget, women, children, minorities, gays, and Muslims to be hit the hardest...


And be sure to tell us about the pain of your 401K and your evil employer whose orders that USED to be up 80% are only up 37.863946%!



There's also the falling value of your home to bitch about and how McDonald's isn't even offering burger-flipping jobs without insurance...

 

[unregistered]

 

[Frisco_Slug_Esq]

It's almost time for Democrat ethical transgressions to be eclipsed by media charges against Republicans...it will be like somebody flipped a switch the day after the election. Maxine will get a pass.

Yeah, we're going to see the election 180's go to 360〫...

 

[mercury14]

The economy just added 64,000 private-sector jobs while shedding 90k government jobs. The Dow is up over 11,000 again. The righties should be happy...

But you've decided that there's no such thing as good news when the Dems control things.

 

[mercury14]

More gold for us, more inflated dollars for Dem...

Nope, I banked nearly $110,000 in capital gains last year. If I'd have invested in gold as your right wing overlords advise, I would have wasted an extraordinary financial opportunity.

But go ahead and trust Glenn Beck over your financial advisor. Idiot.

 

[Frisco_Slug_Esq]

Precisely because of the obvious failure of the Obama stimulus-spending program to adequately create jobs, the Federal Reserve is moving toward re-priming the pump. It’s the addition of yet another bad policy of dollar destruction to the first mistake of massive spending.

Think of it this way: The Fed is probably going to add another $1 trillion of new cash to the financial system. But as all those new dollars are created, the dollar excess sinks the greenback exchange rate. And that means investors will take the new money the Fed creates and drain it out of the U.S. financial system into more reliable currencies. Go figure Ben Bernanke’s logic.

The same thing happened between 2002 and 2006. The Fed was too loose for too long, the dollar fell too far, and all that cash fled the country, thereby undermining the Bush tax cuts.

Meanwhile, with today’s rapid rise in gold and commodity prices, a new inflation tax will be imposed on consumers and businesses. Bad for growth. Oil has jumped to $83 a barrel and gas at the retail pump is heading toward $3 a gallon.

And on top of all this, a world currency and trade war beckons. Treasury Secretary Tim Geithner is rapidly escalating the China-bashing rhetoric, as he blames the Chinese yuan for American economic woes. Shades of the 1930s. Neither the Treasury nor the Fed seems interested in defending the dollar’s world-reserve-currency status, or U.S. global economic leadership. And no one in official Washington seems interested in global-currency stability backed by a golden anchor.

But here’s the real problem. New numbers from the CBO show a 9 percent increase in federal budget spending for fiscal 2010. That’s about six-times the inflation rate. Astronomical.

Federal spending is now 25 percent of GDP, way past the historical norm of 20 percent. And the budget gap is $1.3 trillion. So how can you blame investors or businesses for asking this simple question: How high are my taxes going to go to finance all this?

Until this question is answered to their satisfaction, the job-creating engines will remain dormant. Obamacare is a massive tax and regulatory threat. And so is the spending and deficit problem. The Fed can pour all the new money it wants into the economy, but it cannot change any of this.

Then again, the elections can.

Larry Kudlow
NRO

 

[Frisco_Slug_Esq]

Nope, I banked nearly $110,000 in capital gains last year. If I'd have invested in gold as your right wing overlords advise, I would have wasted an extraordinary financial opportunity.

But go ahead and trust Glenn Beck over your financial advisor. Idiot.

Sure you did Sparky, sure you did...

I have a rather diverse portfolio.

Thank you very much.

Idiot

 

[Saint Peter]

Nope, I banked nearly $110,000 in capital gains last year. If I'd have invested in gold as your right wing overlords advise, I would have wasted an extraordinary financial opportunity.

But go ahead and trust Glenn Beck over your financial advisor. Idiot.

I invested twice that in strippers.


Rookie.

 

[Frisco_Slug_Esq]

PS - as for the DOW, we addressed that a long time ago and I even posted that I was looking forward to it hitting higher marks before the end of the year, so I could move some stocks into safer vehicles...

Remember, we hit 11K in May. Tax hikes in January...

A wounded little man-child lashing out at his enemies list...



Also from the very earliest, we talked about investor psychology (something you CLAIM to know something about, but truly, we've little, not no evidence of), and how most of the market drop was caused by fear of "General Democrat (Socialist-Marxist Economics) Philosophy" and Obama's open hostility towards business (at least the ones not contributing large to him, like BP and Goldman Sachs). So conversely, we may be seeing an economic rebound based upon the hope of some change and a return to the "failed policies of the past and that clear and present danger to the economy, the specter (not Arln) of Ronald Reagan..."

Hey, did ya see that Bush is pulling up even with Obama in the polls?