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

[NeverEndingMe]

What the GOP doesnt get is this: America likes Medicare; what it doesnt like are pols who steal the Medicare taxes, wont repay the money, then wanna cheat them outta the services they paid for.

So cutting Medicare benefits is perilous. The GOP has gotta find the money elsewhere.

and if we address the costs of "medical" we can keep them.

you have to admit that government spending and oversight on these projects is bloated and there are billions wasted and billions more in fraud.

we must fix these issues, not harm those that need help

 

[unregistered]

 

[PamCarolson]

If Obama is such a success, why are so many Americans living on welfare, food stamps, or other forms of aide?

Is this the type of sucess you want?

No we have both. The commission even says so as well.

Americans don't want their government services cut. They're just not going to vote to take the axe to Medicare. Defense isn't going anywhere. And neither is social security. So America needs to have the revenue to pay for the things its citizens (of both parties) demand. Therefore it's a revenue problem.

Every time I hear a politician demonizing "spending" it makes me want to puke. Spending on what? Teachers? Tanks? Health care for our 90 year olds? It's fucking dumb as hell to demonize generic non-specific spending without talking about what the spending actually is.

 

[Byron In Exile]

If Obama is such a success, why are so many Americans living on welfare, food stamps, or other forms of aide?

Is this the type of sucess you want?

More Obama... christ, Pam, he's a sock-puppet.

 

[NeverEndingMe]

More Obama... christ, Pam, he's a sock-puppet.

she has a good point, being is having people living off assistance a good thing?

 

[unregistered]

 

[koalabear]

Really? The 10th most conservative district in America just elected a Democrat after the Republican candidate said he was going to cut Medicare. Sorry, the right dearly loves it's "spending" too.

and that district would be?

 

[trysail]

http://www.bloomberg.com/news/2011-...down-on-developed-world-chart-of-the-day.html


‘3-D Hurricane’ Bears Down on Developed World: Chart of the Day
By David Wilson

There’s a “3-D hurricane” coming to the U.S. and other developed countries that will limit economic growth and market returns for years, according to Jason Hsu, chief investment officer at Research Affiliates LLC.

Hsu used the phrase to characterize the nations’ mounting debts, sustained deficit spending and demographic shifts to an older population, as outlined in a report last week.

The CHART OF THE DAY depicts what’s heading for the U.S. economy. As the top panel shows, the debt burden of households, businesses and government has increased and federal budget gaps have widened since 2001. The bottom panel tracks a decline in the number of workers for each recipient of Social Security.

“Ben Bernanke in a helicopter will not stop the hurricane’s devastating path,” Hsu wrote, referring to the Federal Reserve chairman’s study of monetary policy alternatives that economist Milton Friedman likened to dropping money from a copter. “More stimulus packages will not stop it. Blaming the Chinese for lending us too much money will not stop it.”

The storm will leave developed countries with the “new normal” that Pacific Investment Management Co., the world’s biggest bond-fund manager, predicted two years ago, according to Hsu. They will also have to cope with higher inflation rates, increased borrowing costs and falling currency values, he wrote.

 

[koalabear]

http://www.bloomberg.com/news/2011-...down-on-developed-world-chart-of-the-day.html


‘3-D Hurricane’ Bears Down on Developed World: Chart of the Day
By David Wilson

The most important chart is missing, money stolen from SS.

 

[koalabear]

Really? The 10th most conservative district in America just elected a Democrat after the Republican candidate said he was going to cut Medicare. Sorry, the right dearly loves it's "spending" too.

and that district would be?

*crickets*

 

[NeverEndingMe]

*crickets*

Merc has went to his mommie for support

 

[busybody..]

The following is actually great news for Obama

if Most Americans now believe we are im permanent systemic decline, they wont blame him

almost the same thing happened with Carter


ObamaNomics: NYT/CBS Poll Finds Nearly 4 In 10 Americans Think Economy On A “Permanent Decline”…


Snuffing out belief in American exceptionalism, otherwise known as “mission accomplished” in the Obama administration

(Politico) — Nearly 4 in 10 Americans say they think the economy is in permanent decline, a new polls shows as deep pessimism about the economy becomes more widespread.

Thirty-nine percent of those surveyed for a New York Times/CBS News poll released late Wednesday say they see the economy headed on a downward path – significantly worse than when the question was last asked in October and 28 percent of Americans said the economy was in permanent decline.

At the same time, fewer Americans see the economy as having the potential to eventually recover, with 57 percent of those surveyed saying they think things will, in time, be better. That’s down from 68 percent in October.

As the economy continues to sputter in the eyes of many Americans, President Barack Obama’s approval rating is at 47 percent and his disapproval is at 44 percent. In May, surging in the aftermath of the killing of Osama bin Laden, Obama’s approval rating in the same poll was 57 percent and his disapproval was 37 percent.

 

[rosco rathbone]

Hey rosco, I spent some time reading the .pdf, which was kinda tough, it's layout confused the book reader so I had to continually hunt for the next page. I think it makes some bad assumptions and so do some other people, here's what I found at mises.org (search = "Warren Mosler"). I find the second link the most insightful.

Warren Mosler

http://newarthurianeconomics.blogspot.com/2010/10/seven-deadly-innocent-frauds-of-warren.html

MMT

http://mises.org/daily/5260/The-UpsideDown-World-of-MMT

There is also a new one up on the coming inflation:

http://mises.org/daily/5407/Is-Higher-Inflation-Inevitable

I have a student coming, so I'll shout at ya in the morning, in a nice way, not in a Democrat thinking cap Grecian Formula sort of shouting...

Unfortunately I am back to being a productive citizen for the nonce so we'll have to discuss this on le weekend.

 

[mercury14]

and that district would be?

Don't read the news much, do you?

 

[koalabear]

Don't read the news much, do you?

So you can't answer. Ok. Moron.

 

[NeverEndingMe]

So you can't answer. Ok. Moron.

Merc isn't able to deal with anyone standing up to him, or telling him how ignorant he is. he will run away crying, begging for him mommie to make it all better

 

[cjh]

So you can't answer. Ok. Moron.

My guess is that he nailed it.

 

[koalabear]

My guess is that he nailed it.

Look! A lit lawyer, cool.

 

[JAMESBJOHNSON]

and if we address the costs of "medical" we can keep them.

you have to admit that government spending and oversight on these projects is bloated and there are billions wasted and billions more in fraud.

we must fix these issues, not harm those that need help

If I was doing Medicare I'd eliminate coverage for any treatment less than $100, and end VA eligibility for Medicare recipients. Pick one or the other. Medicare should be for expensive medical interventions NOT routine bullshit.

 

[cjh]

Look! A lit lawyer, cool.

Look, a lit rotorooter. Cool.

 

[NeverEndingMe]

If I was doing Medicare I'd eliminate coverage for any treatment less than $100, and end VA eligibility for Medicare recipients. Pick one or the other. Medicare should be for expensive medical interventions NOT routine bullshit.

hence the problem, so many people head to the Dr or ER with a cold and demand antibiotics

 

[koalabear]

Look, a lit rotorooter. Cool.

So get your turd client back to answer the question.

 

[cjh]

So get your turd client back to answer the question.

Not me.

You're the turd fisher.

 

[koalabear]

Not me.

You're the turd fisher.

You are just the sniffer.

 

[cjh]

You are just the sniffer.

there is such a thing?

you know this how?