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

[4est_4est_Gump]

He trolls every post in the thread is more like it.

That is the tactic; constant ridicule.

In the third year of a one-year fix, they are taking a victory lap...

 

[4est_4est_Gump]

Obama's big shakedown victory was one of the things holding the economy back:

The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.

Lenders slowed the pace of foreclosures as they negotiated with attorneys general in all 50 states for more than a year over allegations of faulty and fraudulent paperwork used to repossess homes. With yesterday’s agreement, banks are likely to resume property seizures.

“The best thing about the settlement, frankly, is that it will be done,” said Stan Humphries, chief economist for Seattle-based Zillow Inc. (Z), a provider of home-sales data. “The shadow of the settlement hung over the market for a year now.”

http://www.bloomberg.com/news/2012-...ve-of-u-s-home-seizures-help-heal-market.html

More deflation:

A surge of home seizures may drive down values, at least for a while, in a fragile market. The number of new foreclosure filings fell 34 percent last year, according to RealtyTrac, resulting in a backlog that now may flood the market with low- cost properties. About 1 million foreclosures will be completed this year, up 25 percent from 2011, according to the firm.

“All of this will result in more foreclosure pain in the short term as some of the foreclosures that should have happened last year instead happen this year,” Daren Blomquist, a RealtyTrac vice president, said in an e-mail yesterday.
About 5 million homes have been lost to foreclosure in the U.S. since 2006, according to RealtyTrac.

“I think there’ll be more price weakness, because we’ll see the number of distressed sales pick up,” said Mark Zandi, chief economist for Moody’s Analytics Inc. in West Chester, Pennsylvania. “But I think the price declines will be modest. I think the banks themselves are going to be very sensitive to market prices. I don’t think they’re just going to dump property. That wouldn’t be in their best interest.”

What is it we kept saying about all his interventions?

Trying to accelerate the recovery and trying to retard bad news instead of letting the markets simply work themselves out; that's why this is the slowest recovery after a recession ever recorded.

 

[unregistered]

 

[4est_4est_Gump]

Out of the Greece and into the fire...

 

[RobDownSouth]

That is the tactic; constant ridicule

You have to admit though, AJ, that you give those of us who are reality-based (and who favor verifiable facts over, say, American Thinker editorial flights of fancy) quite a lot of material to criticize.

 

[4est_4est_Gump]

Don't ever abandon the tactic and only ever read sources of information that you agree with 100%.

That's the winning combination

 

[RobDownSouth]

Don't ever abandon the tactic and only ever read sources of information that you agree with 100%.

That's the winning combination

Rather self-limiting, no? That sorta restricts you to NRO, American Spectator and American Thinker.

 

[phrodeau]

A good boot protects the ankles.

If you want a good boot, I'd give you one.

 

[mercury14]

?

Trying to accelerate the recovery and trying to retard bad news instead of letting the markets simply work themselves out; that's why this is the slowest recovery after a recession ever recorded.

Oh so if Obama just did nothing you wouldn't have blamed him for a bad economy? Sure.

 

[unregistered]

 

[richard_daily]

If you want a good boot, I'd give you one.

He'd love it, he's just too shy to ask.

 

[koalabear]

Stocks tumble as Greece balks

http://data.moneycentral.msn.com/scripts/chrtsrv.dll?Symbol=$us:INDU&width=300&height=200&E1=0&D4=1&Legend=0&AF=2&Banner=5&palette=2&C1=3&E8=1

 

[unregistered]

 

[koalabear]

We know, we know, chihuahua.

He really does miss Ken.

 

[unregistered]

 

[4est_4est_Gump]

Oh so if Obama just did nothing you wouldn't have blamed him for a bad economy? Sure.

How could I since I was on record advocating a do-nothing policy?

In fact, we would have a fully-corrected economy by now...

Sucks to be you.

 

[4est_4est_Gump]

(Reuters) - Rating agency Standard & Poor's downgraded 34 Italian banks on Friday, including heavyweights UniCredit (CRDI.MI) and Intesa Sanpaolo (ISP.MI), citing a reduced ability to roll over their wholesale debt and expected weak profitability.

The move follows S&P's downgrade of Italy's sovereign rating last month to BBB+, part of a mass downgrade of nine euro zone countries.

http://in.reuters.com/article/2012/02/10/italy-banks-idINDEE8190J120120210?type=economicNews


I'm Hungary for some French-fried €PIIGS!
A_J, the Incredulous

__________________
"Ceterum autem censeo, Liberalismum esse delendum"
A_J, the Stupid

 

[4est_4est_Gump]

In the novel [George Orwell's Animal Farm], the ruling class of pigs comes to gain the animals' favor by vilifying the farmer, who, like the other humans he associates with, is the embodiment of gluttony and greed, eating the fruits of the farm animals' labor, trading away what he cannot eat, and living in his opulent farmhouse paid for by those profits. Being thoroughly convinced of the truth in these claims, the animals are shocked to find in Chapter 6 that the pigs, now in administrative control, have begun to interact and trade with those same humans, a crime that had once been unpardonable. To justify the course of action domestically, the pigs claim refuge in the "greater good," saying that all profits will go to continue building the farm's windmill -- the construction of which had proven troublesome and more costly than expected, but the completion of which would benefit all the animals of the farm as promised by the pigs. And while some young pigs timidly try to point out the betrayal of principles, they are intimidated into silence by growling dogs and bleating sheep.

Juxtaposing this fictional scenario alongside the tragically real scenario we've witnessed in the last four years is not a daunting task. The driving motif, if not the defining one, of Barack Obama's administration has been the vilification of George W. Bush and the other rich fat cats with whom he'd been swindling the American people of their hard-earned wealth. The purpose of these efforts is to construct a new, redistributive economic machine in America that would "spread the wealth around" and "be good for everybody." Of course, like the windmill, the construction of that machine has been slow, inefficient, and oh, so costly. So like the pigs, the Obama administration is now courting the class that he had once convinced his followers is the source of America's woes -- the rich fat cats.

The upcoming and imperative Democratic National Convention has run into some snags in collecting the $36.6 million necessary to pay for it, particularly within the confines of the party rhetoric. Looking to capture what's left of the intensity from the Occupy farce, party leaders have promoted the event with a "no rich-guys except politicians" theme, initially promising "to refuse donations from corporations, lobbyists, or other special interest groups."

"But living up to these self-imposed rules is proving more difficult than party leaders expected," the Washington Free Beacon reports. "Local sources say the DNC is approaching wealthy Bank of America executives in an effort to unload some of its premier convention packages," some of which cost upwards of $1 million.

These executives are reported to have been shocked at the "audacity of this proposition." And should they be otherwise? Bank of America has been a particular target of Obama's attacks against financial institutions. And as rich executives, they've been painted as villains in a public smear campaign orchestrated by Obama's administration, so we can't blame them for being surprised at the invitation to attend the public event.

But as shocking as that must be for every executive who gets a call from the White House inviting them to the DNC, one would have to imagine it would be utterly disillusioning to Obama's supporters. His flock, many of whom proudly call themselves "the 99%" regardless of whether they've attended an Occupy protest, have come to view him as a vindicator of the people, sent to take down the evil corporations and lobbies that had for far too long looked down upon the masses. Now, Obama is inviting the 1% over for dinner to sit in skyboxes overlooking, yet among, the masses that wholeheartedly adhere to the party line.

There is a lesson here that will undoubtedly be lost on Obama's minions that scream and cheer at the DNC. Yes, they have been betrayed on the level of their deepest principles, but he will take to the stage, and he will continue selling his followers on the dream of the "windmill" -- that perfect economic machine where the government sees to it that rich pay more, the poor get more, and everyone is happy. After all, that's what the DNC is for, and why he's courting these rich guys in the first place -- to ensure that he can continue building it for the good of the whole. And that will be good enough for the indoctrinated, just as it is for the animals on Orwell's farm.

But the rest of us looking on know that there is no windmill, and there never will be for the same reason Orwell's animals never see its completion. There exists an economic reality that believers in such nonsense overlook. A ruling body cannot administrate happiness. As our founders knew, the best a ruling class can do is allow individuals to seek it without trying to manipulate those individuals as one would the cogs of a machine.

Read more: http://www.americanthinker.com/2012...nts_and_why_they_wont_care.html#ixzz1m53KyS00

He just shook them down over the Government-caused housing bubble as if they were to blame while Government and the People where innocent by-standers and now he wants them to assist in four more years of "The Chicago Style..."

Talk about your Audacity of Hope!



I bet the subtext is: If we do win, and you didn't give us the money, so much for our "friendly" working association...

 

[rosco rathbone]

one for the goldbugs

Warren Buffett on why gold is a losing proposition

Today the world’s gold stock is about 170,000 metric tons. If all of this gold were melded together, it would form a cube of about 68 feet per side. (Picture it fitting comfortably within a baseball infield.) At $1,750 per ounce — gold’s price as I write this — its value would be about $9.6 trillion. Call this cube pile A.

Let’s now create a pile B costing an equal amount. For that, we could buy all U.S. cropland (400 million acres with output of about $200 billion annually), plus 16 Exxon Mobils (the world’s most profitable company, one earning more than $40 billion annually). After these purchases, we would have about $1 trillion left over for walking-around money (no sense feeling strapped after this buying binge). Can you imagine an investor with $9.6 trillion selecting pile A over pile B?

Beyond the staggering valuation given the existing stock of gold, current prices make today’s annual production of gold command about $160 billion. Buyers — whether jewelry and industrial users, frightened individuals, or speculators — must continually absorb this additional supply to merely maintain an equilibrium at present prices.

A century from now the 400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops — and will continue to produce that valuable bounty, whatever the currency may be. Exxon Mobil (XOM) will probably have delivered trillions of dollars in dividends to its owners and will also hold assets worth many more trillions (and, remember, you get 16 Exxons). The 170,000 tons of gold will be unchanged in size and still incapable of producing anything. You can fondle the cube, but it will not respond.”

http://pragcap.com/warren-buffett-why-gold-is-a-losing-long-term-bet

 

[mercury14]

How could I since I was on record advocating a do-nothing policy?

In fact, we would have a fully-corrected economy by now...

Sucks to be you.

Who do you think is most likely correct in their assessment of the economy?


A) The consensus of the business and economic firms, both private and public.

B) An anonymous porn board poster who once told us that a Canadian kid's homework assignment negates the economic opinion of five Wall Street firms.

 

[eyer]

The economic cycle always has its ebbs and tides...

...but the bottom of the debt well reaches further to financial h3ll every day:

- 43 percent of all American families spend more than they earn each year

- median household income continues to decline (now less than $50,000 a year)

- According to the Federal Reserve, median household debt in America has risen to $75,600

- Consumer borrowing rose by another $19.3 billion in December. Right now it is sitting at a grand total of $2.5 trillion according to the Federal Reserve.

- Overall, consumer debt in America has increased by a whopping 1700% since 1971.

If you'd like to sicken yourself on 30 other economic facts that portend the crisis which is only getting worse, go here:

Debt Slavery: 30 Facts About Debt In America That Will Blow Your Mind

http://endoftheamericandream.com/ar...bout-debt-in-america-that-will-blow-your-mind

 

[NeverEndingMe]

The economic cycle always has its ebbs and tides...

...but the bottom of the debt well reaches further to financial h3ll every day:



If you'd like to sicken yourself on 30 other economic facts that portend the crisis which is only getting worse, go here:

what i don't agree with, is the crap obama and the left is selling. That the only way to make society better and to boost the middle class is Government.

Government is the worse way to improve any class in society. Just look at Russia, Greece, France, UK - all failed examples of government run amuck in greed and entitlements

 

[eyer]

what i don't agree with, is the crap obama and the left is selling.

"There's a sucker born every minute."

 

[Sean Renaud]

Which Eyer is all the more reason to strengthen unions and put up restrictions preventing jobs from going over seas and raising minimum wage. If your opinion is that the median wage going down is a bad thing you're playing for the wrong team.

 

[NeverEndingMe]

Which Eyer is all the more reason to strengthen unions and put up restrictions preventing jobs from going over seas and raising minimum wage. If your opinion is that the median wage going down is a bad thing you're playing for the wrong team.

Dipshit, when there are no longer American companies what then? You don't get that part of business do you. that in order for a company to stay in business the company must make a profit?

course not, you are a socialist fucktard. union's only protect the lazy, so that must mean you are lazy