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

[busybody..]

NIGGERUD wont get this


Luskin: The Coming Taxmageddon Will Crush Stocks by at Least 30%

Wall Street Journal op-ed, The 2013 Fiscal Cliff Could Crush Stocks, by Donald Luskin (Chief Investment Officer, Trend Macrolytic):


nless current law is amended before year-end, the stock market has to fall by at least 30%.

It's all about how dividends are taxed -- and the reality that we are facing the biggest single hike in dividend tax rates in history. ... After year-end, under current law, the top dividend tax rate will rise to 43.4% from 15%. That's not only because the temporary low 15% rate granted under the 2001 Bush tax cuts will revert to the prior rate of 39.6%. In addition, a provision of ObamaCare slaps a 3.8% surtax on all forms of investment income, including dividends -- the resulting total is 43.4%. ... To be sure, we can quibble about the exact amount -- but not the direction. It's pretty much axiomatic: after-tax yields lower, stock prices lower.

All the same logic would apply to the increase in capital gains tax rates scheduled for year-end. With the expiration of the Bush tax cuts and the advent of the ObamaCare surcharge, the top capital gains rate will rise to 23.8% from 15%. The arithmetic for how much stocks will drop as a result is more complicated, because capital gains taxes are only paid when assets are eventually sold. But the effect on stock prices is the same -- it's down.

The same logic also applies here to bonds, because at year-end the top tax rate on interest income will rise to 43.4% from 35%. According to our simple arithmetic, if the yield on a 10-year Treasury is 2% today, it would rise to 2.3% with next year's tax rates. ...

So just by the numbers, the fiscal cliff matters. Investors are wrong to blithely assume that the boys in Washington will somehow do the right thing and it will all work out in the end. ... If there's a bargaining failure and the scheduled tax hikes on dividends aren't stopped, we'll be sorry we're spending so much political energy now debating about the "1%" and their supposed privileges. It's the 30% down in the stock market we ought be worrying about.

 

[busybody..]

ROBERT REICH: THE ANSWER ISN’T SOCIALISM BUT MORE WEALTH REDISTRIBUTION: Er, um, so wouldn’t that actually be more like communism? You can’t make stuff like this up. Apparently the key to economic improvement isn’t harder work, increased efficiency, or self improvement but more aggressive wealth distribution and …… more leisure time? In Reich’s words, “The problem is not that the productivity revolution has caused unemployment or under-employment. The problem is its fruits haven’t been widely shared. Less work isn’t a bad thing. Most people prefer leisure. A productivity revolution such as we are experiencing should enable people to spend less time at work and have more time to do whatever they’d rather do.”

 

[busybody..]

It is simple

To restore our country

WE MUST START THE MASS KILLINGS OF DUMZ, LIBZ and NIGGERZ

 

[busybody..]

All things WRONG with HIGHER TAXES

NIGGERZ wont understand

http://blogs.the-american-interest.com/wrm/files/2012/05/ferraris.jpgThis photo of a fleet of Ferraris purportedly fleeing to the Swiss border captures the feeling of many rich French people today. The socialist candidate François Hollande has defeated incumbent Nicolas Sarkozy — the first time a socialist has been elected President of France the Mitterand years.

 

[NeverEndingMe]

if the 1%'ers would only pay their fair share, of say 50% income tax so that the other 99%'ers won't have to pay any income tax

 

[Ulaven_Demorte]

You can always tell when a "conservative" (Dizzybooby is a great example) is getting his ass handed to him by the number of consecutive posts they make.

Does anyone even read the bigot's tripe anymore/

 

[koalabear]

You can always tell when a "conservative" (Dizzybooby is a great example) is getting his ass handed to him by the number of consecutive posts they make.

Does anyone even read the bigot's tripe anymore/

MOTroll slobber aisle 13!

 

[NeverEndingMe]

MOTroll slobber aisle 13!

don't piss him off, UD will call up his alt Merc

 

[Ulaven_Demorte]

Oh look, Littlebear has a fan in Jen"dumbasastump"inFlorida.

Still spewing the same old shitt Koala? you really need a new schtick.

 

[koalabear]

Oh look, Littlebear has a fan in Jen"dumbasastump"inFlorida.

Still spewing the same old shitt Koala? you really need a new schtick.

Not really, you are still a morbidly obese troll.

 

[NeverEndingMe]

Oh look, Littlebear has a fan in Jen"dumbasastump"inFlorida.

Still spewing the same old shitt Koala? you really need a new schtick.

wow yet another troll drinking the dumb ass juice

so many fucked up people on GB or are they all just Merc's alts?

 

[NeverEndingMe]

Not really, you are still a morbidly obese troll.

I feel bad for UD, or Merc

does Merc put on a different wig for each of his alts?

 

[Ulaven_Demorte]

Still the same old ill fitting bullshit Koalatroll?
No imagination in your old age eh?

On ignore you stay until you geet some new material.

 

[NeverEndingMe]

Still the same old ill fitting bullshit Koalatroll?
No imagination in your old age eh?

On ignore you stay until you geet some new material.

running away. yet another obama supporting coward

 

[koalabear]

I feel bad for UD, or Merc

does Merc put on a different wig for each of his alts?

He feels bad every time he looks into the mirror. He puts on different panties for each of the voices in his head.

 

[NeverEndingMe]

He feels bad every time he looks into the mirror. He puts on different panties for each of the voices in his head.

I think all democrats feel that way

 

[richard_daily]

Still the same old ill fitting bullshit Koalatroll?
No imagination in your old age eh?

On ignore you stay until you geet some new material.

I think they're both bots. Neither one ever has anything interesting or original to say.

 

[4est_4est_Gump]

Well, another observation is playing out.

The Socialists retook France, world markets are collapsing, oil is dropping, the hands out for handouts crowd is, like Obama, going to war against "the rich" and they mean to crash Europe in order to have free stuff.

It's a "global" economy and they're going to demand that Germany and the US support their lifestyle and if we don't, they'll happily bankrupt us in order to teach us a lesson about greed.

 

[Ulaven_Demorte]

Well, another observation is playing out.

The Socialists retook France, world markets are collapsing, oil is dropping, the hands out for handouts crowd is, like Obama, going to war against "the rich" and they mean to crash Europe in order to have free stuff.

It's a "global" economy and they're going to demand that Germany and the US support their lifestyle and if we don't, they'll happily bankrupt us in order to teach us a lesson about greed.

We're doomed! DOOMED!

All you're missing is a sandwich board sign to hold while you stand on a soapbox to proclaim to the world that it's quickly approaching an end. You've got the manic, spittle-flaked, diatribe down pat.

It must suck to wake up every morning, hung-over, trying to think of some nightmare scenario where not just the US, but the world's economy collapses.

 

[4est_4est_Gump]

We're doomed! DOOMED!

All you're missing is a sandwich board sign to hold while you stand on a soapbox to proclaim to the world that it's quickly approaching an end. You've got the manic, spittle-flaked, diatribe down pat.

It must suck to wake up every morning, hung-over, trying to think of some nightmare scenario where not just the US, but the world's economy collapses.

I've never predicted the end of the world.*

I have predicted accurately the direction of the economy; a flat line.

I was able to do this because I understand that the National Democratic Party is also Socialist...

You're the one in denial over that particular aspect of reality and like merc, dick, throb and all the others, you were convinced that the National Democratic Socialist Party was going to show those evil NAZI Republicans a thing or two about how to run an eceonomy that wins the war on poverty, enriches the middle class and puts the rich in their proper and humble place...















... managing government along with the intellectual class led by the Harvard faculty lounge.











* That's what perg does in the Inconvenient Truth thread and what Laurel did when Bush was elected.

 

[4est_4est_Gump]

But, on the bright side, your candidate can now run on how he single-handedly shot bin Laden and brought down the price of gas.




I can't wait to vote for this guy!


http://pajamasmedia.com/tatler/files/2011/04/obama-wide-grin80.jpg

 

[4est_4est_Gump]

Now, Jack Curtis, Jack Curtis is talking about the end of the "civilized" world...

Governments around the world are in various stages of financial failure, all seemingly trying to be Argentina. Curious, no? Look at debt and deficits; you see government spending issues; most of the few exceptions have other problems. Look then at global migration patterns showing people leaving poor places for places going broke, an unhappy trend line. Look anywhere; we can't seem to govern ourselves worldwide, while people protesting are multiplying everywhere.

The U.S. and the EU can't stop borrowing and spending, though no one can expect their stultified economies to bear the debt they've run up. Arab riots and civil wars reflect those countries' corrupt dictators' inability to sufficiently subsidize the citizens. Armed insurrections and massive demonstrations plague Russia, India, China, and Latin America; Africa has more than its share of failed and failing states. The Global Incident Map shows worldwide terrorism and both underlines instability and helps explain the migrations. Predictable civil order seems lost.

For "rich" Europe and North America, it's the famous doom of all democracies: the citizens have learned to vote others' wealth to themselves via a devil's compact with demagogues. Once in place, such deals can't be controlled (Who's re-elected for shutting off the goodies?) until they outrun available resources and impoverish the economy. "Kick the can down the road" (meaning past the next election) is the U.S. mantra for postponing the end-game; in the EU, it's quasi-austerity. It's the same game in both places: Save the Banks. The people? Let them eat cake...



As economic failure spreads through the interconnected world, unemployment and wealth lost in collapsing investments and failing banks will pull the desperate into the streets as we've seen, something the U.S. left is already promoting with its "Occupy" troops. Will the world's contentious groupings maintain a civil society as this intensifies? If not, what will preserve our fragile technical civilization? Only force? Just possibly, shared need will preserve enough for the purpose...if not defeated by Malthusian interests. Without shared beliefs to build upon, mounting disorder seems likely to fuel more repressive governments during a lengthy civil interregnum. The last widespread interregnum was called the "Dark Ages"; we can only guess how future historians may characterize what we seem to be preparing...

Read more: http://www.americanthinker.com/2012...ously_failing_civilization.html#ixzz1uBLs8WiD

 

[4est_4est_Gump]

The Wall Street Journal's Damian Paletta writes,

The trustees who oversee Social Security's two trust funds — one for disability benefits, the other for retirees — said reserves for the fund that pays disability benefits would be exhausted by 2016, two years earlier than projected last year. And if the disability fund were combined with the larger fund that pays retiree benefits, all reserves would be exhausted by 2033, three years sooner than projected last year.

This makes it sound like there are actual funds sitting there waiting to be deployed. Funds invested in, well, anything. But of course that's not the case. Back in 1960, more than five workers were paying into social security for every retiree. Now that ratio is down to 2.8. People are living longer, and wages are not increasing at the expected clip. So, the program is paying out more and collecting less than planned.

What this all means is that people had better be stuffing their 401k retirement plans and IRAs with as much savings as possible. And not only that, individuals must make good investment decisions. Mechanics, gardeners, carpenters, and computer jocks must not only be good at their professions, but be money managers as well. However, since the median 401k balance holds all of $13,000, future retirees better be spectacular money managers and flawless speculators.

Not likely. In the words of Terry Burnham, "markets are mean," and people are forced to navigate this foreign world with "lizard brains." Speaking at the Socionomics Summit 2012 in Atlanta, the Harvard economics professor and money manager warned Social Mood conferees that herding is normal in life and especially in financial markets. And while our lives are made better by learning and perfecting tasks, this learning does not work well for investing in financial markets.

As Burnham explained, Pavlov's dogs, Skinner's pigeons, human investors, and monkeys are all the same: reinforcement creates more persistent behavior.

The lizard part of our brains pushes aside the cognitive areas when we make investment decisions. Lizard-brain functioning was great when we had to track game or escape physical danger to stay alive. But this part of the brain works against success in the modern world, which as Burnham explained, "requires effort toward abstract goals."

The implication is that "Markets are irrational because of quirks in human nature," Burnham explains in his 2005 book Mean Markets and Lizard Brains.

In this very interesting book Burnham explains that our lizard brains are pattern seeking and backward looking, which again was handy when we lived in caves, but not so great for managing our 401ks.

The fact is, without the constant inflation of fiat money, people would (or have to) spend very little time thinking about their money or savings. Squirreling a little money out of every paycheck would suffice for retirement preparation.

But the modern world of central-bank hyperplanning, hyperbailing, and hyperprinting makes that impossible. In his book The Ethics of Money Production, Guido Hülsmann says it is possible to protect one's savings from the government's inflation, but not entirely, even if a person devotes lots of time to studying the markets. To do so, "requires thorough financial knowledge, the time to constantly supervise one's investments, and a good dose of luck. People who lack one of these ingredients are likely to lose a substantial part of their assets."

http://mises.org/daily/6033/Herding-Lizards


I highly recommend Hülsmann's Last Knight of Liberalism for anyone wanting to understand the current schism in economic thought.

 

[richard_daily]

Well, another observation is playing out.

The Socialists retook France, world markets are collapsing, oil is dropping, the hands out for handouts crowd is, like Obama, going to war against "the rich" and they mean to crash Europe in order to have free stuff.

It's a "global" economy and they're going to demand that Germany and the US support their lifestyle and if we don't, they'll happily bankrupt us in order to teach us a lesson about greed.

Which stock markets are collapsing? Are you looking at markets other than those in the US?

Oil dropping is a bad thing now?

Spin it AJ, Spin it!

 

[JohnnySavage]

Which stock markets are collapsing? Are you looking at markets other than those in the US?

Oil dropping is a bad thing now?

Spin it AJ, Spin it!

I have to keep track of fill-ups for taxes. In February I paid $4.07 a gallon. Yesterday I paid $3.67.