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

[4est_4est_Gump]

http://www.aei-ideas.org/2012/07/june-jobs-swoon-americas-labor-market-depression-continues/

 

[4est_4est_Gump]

http://pjmedia.com/instapundit/wp-content/uploads/2012/07/employmentpopulationration.png

http://cdn.pjmedia.com/eddriscoll/wp-content/blogs.dir/24/files/2012/07/obama_unexpectedly_thumbnail_6-30-11-3.jpg
Looks fine to me!

 

[4est_4est_Gump]

We're All European Socialists Now!
ARTHUR C. BROOKS

I'm often asked if I think America is trending toward becoming a European-style social democracy. My answer is: "No, because we already are a European-style social democracy." From the progressivity of our tax code, to the percentage of GDP devoted to government, to the extent of the regulatory burden on business, most of Europe's got nothing on us.

In 1938—the year my organization, the American Enterprise Institute, was founded—total government spending at all levels was about 15% of GDP. By 2010 it was 36%. The political right can crow all it wants about how America is a "conservative country," unlike, say, Spain—a country governed by the Spanish Socialist Workers Party for most of the past 30 years. But at 36%, U.S. government spending relative to GDP is very close to Spain's. And our debt-to-GDP ratio is 103%; Spain's is 68%.

At first blush, these facts seem astounding. After all, Spanish political attitudes differ dramatically from our own. How can we be slouching down the same debt-potholed, social-democratic road as Spain? There are three explanations, all of which point to a worrying future for America.

First, the American left is every bit as focused on growing government and equalizing incomes as the Spanish left. Despite arguments from liberals that tax increases on "millionaires and billionaires" are necessary for fiscal prudence, they are little more than a way to meet the single-minded objective of greater income equality.

President Obama's proposal to eliminate the Bush-era tax cuts for households making over $250,000 a year would, on a static basis, reduce the deficit by only 5% annually. That still leaves 95% of the deficit to be paid by the middle class.

Similarly, the so-called Buffett Rule, which would apply a minimum income tax rate of 30% on individuals making more than $1 million a year, is supposed to help bring our budget into line but would raise annually about $4 billion—about as much as Americans spend on Halloween and Easter candy.

The second force leading us down the social-democratic road is cronyism. America possesses a full-time bipartisan political apparatus dedicated to government growth and special deals for favored individuals and sectors. For example, the farm bill that just passed the Senate contains around $100 billion in subsidies, mostly for large, corporate farms that do nothing to improve nutrition or food security. Or witness the recently reauthorized Export-Import Bank, which doles out about $20 billion annually in corporate welfare.

Third, and most importantly, while a majority of Americans are neither leftists nor corporate cronies, they aren't paying much attention to the political system. We often hear that more than 85% of Americans disapprove of the job Congress is doing. But, according to the 2000 Social Capital Community Benchmark Survey, only 25% of American adults can correctly name both of their U.S. senators, and 51% can name neither. If I don't know who my senator is, I am unlikely to know much about his bridge to nowhere.

http://online.wsj.com/article/SB10001424052702304141204577509251648959104.html

 

[mercury14]

*chuckle*


I have no opinion...

This might be the biggest merc whopper yet...

Yes that's right. As an investor I don't run on opinion. I base my decisions on independent market analysis and consultation with professionals. I do not take into account political propaganda from either side of the spectrum.

How come you do?

 

[koalabear]

Stocks drop on Europe worries

 

[unregistered]

 

[Beco]

The Hill Poll: Majority of voters believe Obama has changed country for worse
By Sheldon Alberts - 07/09/12 05:00 AM ET

http://thehill.com/polls/236627-hill-poll-majority-feel-obama-has-changed-country-for-worse

Great....cause he's about to be re-elected

 

[jeninflorida]

What worries me about Obama, is that he isn't interested in fixing anything. Obama only wants to tax and dump money on a problem.

Education - no solution to reduce the cost of education (spreads the costs)
Obama Care - no solution to reduce health care costs (spreads the costs)

If America was a business, we would be in bankruptcy court. The solution is to get our costs in line and back into reality. Other wise, if we continue down this path we will no longer be in a recession, we will be in a New Great Depression

 

[unregistered]

 

[eyer]

Democrat Mayor Cuts All City Employees' Pay To Minimum Wage...

Scranton Mayor Chris Doherty cut everyone's pay -- including his own -- on Friday, saying the state's sixth-largest city is broke because the City Council blocked his proposed tax increase. Doherty, a Democrat, warned nearly 400 police officers, firefighters and public works employees about his doomsday plan, prompting a Lackawanna County judge to order the city to pay full wages to all employees, citing that it is a violation of their contracts. Hours later, the payday envelopes went out, and, despite the judge's order, they were light.

“This needs to be resolved," Scranton firefighter and president of the local firefighters union John Judge told FoxNews.com. "My members are getting a check for $7.25 an hour. These are people that are the head of their households. They have mortgages. They have other living costs. They are now going to have to throw their bills in a hat and randomly pick what gets paid on time.”

...In addition to scaling back wages, Doherty's move cut off overtime, worker's compensation and disability.

...Doherty has maintained for months that if the City Council had not refused his 2012 budget proposal, which included a 29 percent tax hike, the city would not be in a dire situation. Doherty did not return repeated calls for comment.

http://www.foxnews.com/politics/201...workers-salaries-cut-down-to-minimum-wage-in/

In Maryland, Higher Taxes Chase Out Rich: Study

http://www.cnbc.com/id/48120446

French president: zero growth so far this year

http://hosted.ap.org/dynamic/storie...ME&TEMPLATE=DEFAULT&CTIME=2012-07-09-10-45-53

...as France sells short-term bonds today at negative interest.

 

[unregistered]

 

[bra_man69]

Let's all rush out buy some French bonds

 

[eyer]

The U.S. economy is worse than it looks

U-3 = 8.2%

U-6 = 14.9%

SGS = 22.9%

...The fact is that the U.S. economy is operating far below its potential productive capacity. Estimates of how far below vary, but a good guess is about 5-8 percent of GDP or close to $1 trillion.

...a trillion dollars is real money, and it's money America isn't making. Why is the big question.

A significant piece of the answer can be glimpsed in a recent report by U.S. Trade Representative Ron Kirk. In a recent press statement about the Global System of Preferences he said:

"GSP is a valuable tool for advancing the Administration's goals to boost trade and to advance international economic development. The GSP program helps developing countries to grow their economies while also helping U.S. businesses, workers, and consumers by lowering the costs of imported goods, including those used as inputs for U.S. manufacturing. The annual review allows the Administration to ensure that the program is working as intended."

Got that? The focus is on promoting cheap imports. Looking at the U.S. trade deficit, I'd say the program is working fully as intended. But if the U.S. government spent a fraction of the effort it spends on promoting cheap imports on promoting domestic American production, the U.S. unemployment numbers would look a lot better and the economy would be much closer to operating at its full potential capacity. For the United States to achieve growth without increasing debt, it must substantially cut its trade deficit.

http://prestowitz.foreignpolicy.com/posts/2012/07/09/the_us_economy_is_worse_than_it_looks

 

[bra_man69]

http://prestowitz.foreignpolicy.com/posts/2012/07/09/the_us_economy_is_worse_than_it_looks

Fed about to do qe3
First time in history that the fed done anything in a election year.

 

[unregistered]

 

[Sean Renaud]

Rich Democrats are bailing out:

Socialite Denise Rich Dumps U.S. Passport

(Reuters) - Denise Rich, the wealthy socialite and former wife of pardoned billionaire trader Marc Rich, has given up her U.S. citizenship - and, with it, much of her U.S. tax bill.

Rich, 68, a Grammy-nominated songwriter and glossy figure in Democratic and European royalty circles, renounced her American passport in November, according to her lawyer.

More here:

http://finance.yahoo.com/news/socialite-denise-rich-dumps-u-s--passport.html

Na na na na. Na na na na na oh hell yeah good bye.


Na na na na. Na na na na na oh hell yeah good bye.


Na na na na. Na na na na na oh hell yeah good bye.

 

[Beco]

Liberal chickens come home to roost:

In Maryland, Higher Taxes Chase Out Rich: Study

By: Robert Frank
CNBC Reporter & Editor

A new report says wealthy Maryland residents may be moving out due to recent tax hikes – a finding that is sure to escalate the battle over taxing the American rich.

The study, by the anti-tax group Change Maryland, says that a net 31,000 residents left the state between 2007 and 2010, the tenure of a "millionaire's tax" pushed through by Gov. Martin O'Malley. The tax, which expired in 2010, in imposed a rate of 6.25 percent on incomes of more than $1 million a year.

More here:

http://www.cnbc.com/id/48120446

yup, its happening....

 

[Disgustipated]

yup, its happening....

Did you and the idiot vettebirther not read they started leaving in 2007? You two are so afraid of the black President, you fail to read your own fucking links.

 

[Beco]

Did you and the idiot vettebirther not read they started leaving in 2007? You two are so afraid of the black President, you fail to read your own fucking links.

I gotta put you on ignore, man o man you're annoying

 

[Disgustipated]

dude....I live here. I gotta put you on ignore, man o man you're annoying

That's right, take the lead of your bff and put people on iggy when you're made to look stupid.

 

[unregistered]

 

[Disgustipated]

I out the girl on Iggy some time ago. The twerp is a serial liar.

cite one lie, tubby. And quit getting yourself in such a tizzy over me that your fat fingers fuck up your posts.

 

[Beco]

That's right, take the lead of your bff and put people on iggy when you're made to look stupid.

man you're too fucked up to know, you're the one looking like a foolish troll. Its fun to mess with you, but its too easy and now you're way too annoying. You just post crap...

So have your fun...relieve some stress or whatever reason you choose to post what you do...

 

[Beco]

I out the girl on Iggy some time ago. The twerp is a serial liar.

I sort of don't get him....or her, whatever....

 

[unregistered]