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

[richard_daily]

Here's a quick summary of the democrat economic policy and an accurate summary of the results so far. It's probably a satire, but they did pretty well with it:

http://www.theonion.com/articles/drunken-ben-bernanke-tells-everyone-at-neighborhoo,21059/

"probably" a satire, huh?

You don't get out much, do you?

 

[Ulaven_Demorte]

Here's a quick summary of the democrat economic policy and an accurate summary of the results so far. It's probably a satire, but they did pretty well with it:

http://www.theonion.com/articles/drunken-ben-bernanke-tells-everyone-at-neighborhoo,21059/

Jesus Christ, you really can't be that fucking stupid.
"probably a satire" from The Onion...

You have GOT to be fucking kidding me.

 

[RightField]

Jesus Christ, you really can't be that fucking stupid.
"probably a satire" from The Onion...

You have GOT to be fucking kidding me.

It's pretty close to the truth for it to be a satire about the economy, not about Bernanke being shitfaced drunk..something I can't picture.

 

[IrezumiKiss]

It's pretty close to the truth for it to be a satire about the economy, not about Bernanke being shitfaced drunk..something I can't picture.

So...you're not familiar with The Onion and how they get down? You're taking that shit as gospel?

Yeeeeeeeeeesh.

c'mon, guy. I know you can't be this joylessly stentorian grey and starch-collared stiff in real life. You're like Jim from Murphy Brown or something!

 

[coastal-boy]

Maybe he can fill in for costal-boy and tell us why a AA-rating is good news

It is called risk and the interest associated with it. Anyone with half a brain already knew that the risk associated with the long-term US market was not worth the interest being paid. Now, with this downgrade, the risk will be reflected by higher interest rates making investments more profitable. Gee...would you prefer a long-term investment with a 3.5% return...or would you rather see 5%?

 

[koalabear]

It is called risk and the interest associated with it. Anyone with half a brain already knew that the risk associated with the long-term US market was not worth the interest being paid. Now, with this downgrade, the risk will be reflected by higher interest rates making investments more profitable. Gee...would you prefer a long-term investment with a 3.5% return...or would you rather see 5%?

and everything you buy more expensive. geeeesh another mercMORON.

 

[busybody..]

It is called risk and the interest associated with it. Anyone with half a brain already knew that the risk associated with the long-term US market was not worth the interest being paid. Now, with this downgrade, the risk will be reflected by higher interest rates making investments more profitable. Gee...would you prefer a long-term investment with a 3.5% return...or would you rather see 5%?

Loser

NIGGER DEFENDER

 

[Frisco_Slug_Esq]

S&P said they'd downgrade us if:

1) The deal was small.

2) The deal didn't include increased revenues.

3) The deal was a short term fix.


So what did Republicans do? They promptly went out and advocated for a small deal that didn't increase revenues, and tried to kick the can just short enough to make it an election issue. Republicans value their ideology over the success of America. Never doubt that.

Boehner spent weeks hashing out a deal with just under a trillion in increased revenue, then walked out when he realized he couldn't pass $5 of tax increases through his own caucus.

"We got 98% of what we wanted"
- John Boehner

The Republicans proposed two big deals which the Administration wanted nothing to do with.

We kept asking you guys on the Democrat team to give us a link to the Democrat plan and all we ever got was links to speeches...

Boehner walked out because like any good blackmailer, when he got what he wanted, Obama asked for more.

I would say ideology is a two-way street; Obama gambled, Obama bluffed, Obama thought this was a repeat of Clinton-Gingrich and Obama played his hand badly. Perhaps if, in the heady days of 2008, Obama hadn't said, "That's nice Eric, but we won," then maybe the 2010 winners would have been willing to do more for him.

This is why we never, ever believe you when you try to pass yourself off as an "independent" thinker...

You're always with the herd.

 

[Frisco_Slug_Esq]

It is called risk and the interest associated with it. Anyone with half a brain already knew that the risk associated with the long-term US market was not worth the interest being paid. Now, with this downgrade, the risk will be reflected by higher interest rates making investments more profitable. Gee...would you prefer a long-term investment with a 3.5% return...or would you rather see 5%?

Who's investments?

Those who profited by being closer to the inflation as noted previously?



Because, for the middle-class, investment does not get more profitable and discretionary income is eaten up by cost inflation, another thing U_ kept demanding we show him, the inflation...

 

[Frisco_Slug_Esq]

What I read was that it had to be $4T in spending reductions and didn't read anything about tax increases. The original proposal by the Republicans was around $6T in reductions, but the Dems, with control of the Senate, shot all the Republican plans down. To say that the "Republicans" didn't come up with a big enough reduction in spending is pretty silly given the very public history of the events. I'm sure you have some more of your Daffy Duck "facts" to prove that the Republicans didn't make savings recommendations and that it was actually the Dems that were pushing for big spending reductions and it was the Republicans who were holding out for minimal spending reductions.

Give him eight months and he'll have an independent report based on math models that he cannot, for the life of him, prove the validity of, even though they turned 8% into 9%...

 

[Frisco_Slug_Esq]

It was common for Republicans to say that default is a legitimate or perhaps even preferred way to handle the debt. They were so radically non-compromising that they were willing to take it to the brink or even over it. S&P didn't think highly of that kind of political theater, or the actual willingness of our leaders to default.

It was not "common."

What is common knowledge is that the Democrats were SURE they could blame it on the Republicans, so they just kept saying no until the polls swung the wrong way, and then they scrambled, eagerly going for the "small" fix that Harry proposed...

Objective, you are not.

 

[Frisco_Slug_Esq]

...
Liar. A week before the debt ceiling bill passed the Dems' plan had deeper spending cuts than the Republican House plan, not including war spending wind-downs. It was even linked on this board. Stop lying.
...

You're the one playing loose with the facts; the Democrats offered not one single thing that was any braver, anymore far-reaching, or anymore capable of heading off the ratings disaster than did the Republicans.

So, maybe you should stop lying to yourself about how serious the Democrats are about the debt.

That ship has sailed.

 

[Wat_Tyler]

My favorite bit was Paddy's dynamic leadership through the crisis. He had his hand on the tiller the entire time, picking and choosing his way through the minefield, like the genius and savior he is.


Not even Bush, either one, managed a bonds rating downgrade.

 

[rosco rathbone]

My favorite bit was Paddy's dynamic leadership through the crisis. He had his hand on the tiller the entire time, picking and choosing his way through the minefield, like the genius and savior he is.


Not even Bush, either one, managed a bonds rating downgrade.

I'm going to have to pull the yellow card on this metaphor train wreck.

 

[Frisco_Slug_Esq]

I'm going to have to pull the yellow card on this metaphor train wreck.

It sounds exactly like the metaphor stream the Ayers plied in "Dreams..."

 

[Wat_Tyler]

I'm going to have to pull the yellow card on this metaphor train wreck.

It's early yet. Bring me more coffee and I promise to do better, like amber waves of grain.

 

[Frisco_Slug_Esq]

My favorite bit was Paddy's dynamic leadership through the crisis. He had his hand on the tiller the entire time, picking and choosing his way through the minefield, like the genius and savior he is.


Not even Bush, either one, managed a bonds rating downgrade.

He promised change we could believe in and transformation...




I'm going to get some more 30-06 ammo today.



Loose change...

Funny shit here: http://www.nationalreview.com/articles/print/273876

 

[Wat_Tyler]

Coffee and .30-cal . . . my kind of morning.


I am doing my bit to reduce un/under-employment, so I am off to work.

 

[Frisco_Slug_Esq]

Coffee and .30-cal . . . my kind of morning.


I am doing my bit to reduce un/under-employment, so I am off to work.

Write Barack and Michelle a thank-you card for "saving" your job there sailor...


__________________
If you still have a job, it was "saved." If you don't have a job, it's being "created."
A_J, the Incredulous

 

[Frisco_Slug_Esq]

Like America’s political class, I have also been thinking about America circa 2020. Indeed, I’ve written a book on the subject. My prognosis is not as rosy as the Boehner-Obama deal, as attentive readers might just be able to deduce from the subtle clues in the title: After America: Get Ready For Armageddon. Oh, don’t worry, I’m not one of these “declinists.” I’m way beyond that, and in the express lane to total societal collapse. The fecklessness of Washington is an existential threat not only to the solvency of the republic but to the entire global order. If Ireland goes under, it’s lights out on Galway Bay. When America goes under, it drags the rest of the developed world down with it. When I go around the country saying stuff like this, a lot of folks agree. Somewhere or other, they’ve a vague memory of having seen a newspaper story accompanied by a Congressional Budget Office graph with the line disappearing off the top of the page and running up the wall and into the rafters circa mid-century. So they usually say, “Well, fortunately I won’t live to see it.” And I always reply that, unless you’re a centenarian with priority boarding for the ObamaCare death panel, you will live to see it. Forget about mid-century. We’ve got until mid-decade to turn this thing around.

Otherwise, by 2020 just the interest payments on the debt will be larger than the U.S. military budget. That’s not paying down the debt, but merely staying current on the servicing — like when you get your MasterCard statement and you can’t afford to pay off any of what you borrowed but you can just about cover the monthly interest charge. Except in this case the interest charge for U.S. taxpayers will be greater than the military budgets of China, Britain, France, Russia, Japan, Germany, Saudi Arabia, India, Italy, South Korea, Brazil, Canada, Australia, Spain, Turkey, and Israel combined.

When interest payments consume about 20 percent of federal revenues, that means a fifth of your taxes are entirely wasted. Pious celebrities often simper that they’d be willing to pay more in taxes for better government services. But a fifth of what you pay won’t be going to government services at all, unless by “government services” you mean the People’s Liberation Army of China, which will be entirely funded by U.S. taxpayers by about 2015. When the Visigoths laid siege to Rome in 408, the imperial Senate hastily bought off the barbarian king Alaric with 5,000 pounds of gold and 30,000 pounds of silver. But they didn’t budget for Roman taxpayers picking up the tab for the entire Visigoth military as a permanent feature of life.

And even those numbers pre-suppose interest rates will remain at their present historic low. Last week, the firm of Macroeconomic Advisors, one of the Obama administration’s favorite economic analysts, predicted that interest rates on ten-year U.S. Treasury notes would be just shy of nine percent by 2021. If that number is right, there are two possibilities: The Chinese will be able to quintuple the size of their armed forces and stick us with the tab. Or we’ll be living in a Mad Max theme park. I’d bet on the latter myself.

Did you know there’s a U.S. Bureau of the Public Debt? Hey, why not? There’s a bureaucracy for everything else. I’m sure somewhere or other there’s a CBO graph showing that by 2050 all federal revenues will be going either to the Chinese Politburo or to the lavish pension plans of retired officials of the Bureau of the Public Debt. At any rate, the BPD is headquartered in Parkersburg, West Virginia, and it’s easy to find because it’s the only building in the state other than the Klan lodge not named after Robert C. Byrd. The Bureau uses as its motto the words of Alexander Hamilton: “The United States debt, foreign and domestic, was the price of liberty.”

Mark Steyn
NRO

 

[RightField]

The irony is that no one can point to the benefits that we've gotten from all this profligate spending. Obama/Pelosi/Reid have spent about $5T in deficit spending since Obama was elected and what has it bought us? Nothing? That's the real shame of it.

And yet, in the debt discussions, they were defending every penny of it as if to take a dime away would mean that Granny would get thrown off a cliff (in an advertisement they made). Can you draw any conclusion other than that they're completely incompetent?

 

[Frisco_Slug_Esq]

The irony is that no one can point to the benefits that we've gotten from all this profligate spending. Obama/Pelosi/Reid have spent about $5T in deficit spending since Obama was elected and what has it bought us? Nothing? That's the real shame of it.

And yet, in the debt discussions, they were defending every penny of it as if to take a dime away would mean that Granny would get thrown off a cliff (in an advertisement they made). Can you draw any conclusion other than that they're completely incompetent?

We saved million upon millions of jobs in the fertile imagination of the Marxist economists and their fancy faux Algebra devoted to the economics of the past...
__________________
If you still have a job, it was "saved." If you don't have a job, it's being "created."
A_J, the Incredulous

 

[busybody..]

INVESTOR’S BUSINESS DAILY: Confidence Crashes Through Lows Set In 2008 Meltdown.


The IBD/TIPP Economic Optimism Index — usually a precursor to confidence gauges released later in the month — has plunged 13.5% to 35.8 with subcomponents off sharply.

These include readings on six-month outlook, personal finances and faith in federal policies. A reading above 50 signals optimism, below 50 pessimism.

The main index’s 35.8 reading was the lowest since the poll began in 2001. It took out even the low of 37.4 set during the summer of 2008, when the financial crisis exploded into the nation’s headlines.

It also stands well below the 44.4 level that marked the onset of the last recession. Since the start of this year, the index has cratered 31%. . . . In the past, strongly positive readings among Democratic respondents to the IBD/TIPP Poll have kept the index from falling sharply in recent months, even as the economy soured and the nation’s problem with its soaring debt became an issue to average Americans.

But that ended in August.

For the first time since President Obama was elected in November 2008, Democrats grew pessimistic about the economy, with their optimism dropping 17% from 54.7 to 45.3.

 

[busybody..]

I know

IBD is merely a BLOG

a RACIST WHITE BLOG

 

[Frisco_Slug_Esq]

In short, Liberal Democrats are back to their norm...
__________________
A_J's corollary #7, “To the New Age Liberal, the past is an indictment, the present is unjust, and the future will be perfect if and only if they establish the rules and cultural norms for current society.”