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

[mercury14]

It was a noble failure.

The foundation of all AJ's beliefs.

 

[4est_4est_Gump]

Because the vast bulk of our overspending, is baseline budgeting.

The Democrats then play the demagogic game of pronouncing and cuts to the automatic rate of growth as "DRACONIAN CUTS" whereby Republicans WANT dirty air and water, starving children, elderly with no heal care, oppressed minorities, no education...,

 

[4est_4est_Gump]

Chicago, off Broadway...

The state has an $85 billion hole in its pension system that is unfunded and for which there will be no coming source of revenue. The obligation is three times the size of last year’s revenue receipts. Moreover, the Illinois Constitution requires that, once earned, retirement benefits can neither be diminished nor abolished.

For ten years, the Democrats have controlled the state, and there is no one else to blame for the deficit. Single-party control led to obligations to the party’s special interests, and the consequences were sweetheart pension deals which the state can not possibly fulfill.

Illinois bonds have the second lowest rating of any state. The unemployment rate in Illinois is above the national average, and in Chicago it is nearly ten percent. A survey of corporate CEOs ranked Illinois 48 out of 50 in terms of business climate; only New York and California rank worse.

Illinois is a microcosm of failed Democratic policies, and Miller sees a confluence of understanding among all voters that their day-to-day economic experiences in Illinois are a consequence of Democratic policies in the extreme because of the lack of opposition. What’s happening to Jews is happening to everyone. Miller notes:

You have to understand that in this part of the world, as in so many, life is with family. Whether you’re Jewish, Catholic, or Protestant, you don’t want to see you children to grow up in a state without opportunity and move away. What I see is people are realizing that their children will have no economic opportunity here and move. When people think their grandchildren are going to be living in Texas or North Carolina because of failed economic policies, party loyalty evaporates. Here, it’s a family crisis if the grandchildren are more than fifteen minutes away.

Jews are slowly beginning to understand that compassion and social justice cannot mean a coerced transfer of the benefits of their labor to someone else. The concepts of tzedakah (charity) and tikkun olam (repairing the world) are moral obligations of the individual, not obligations imposed on the individual by the state. As Jews see the administrative costs of government, the debt, and the economic chaos, they are beginning to understand unrestrained leftism has nothing to do with their values. One can better repair the world by creating economic conditions where people have the opportunity to prosper.

http://pjmedia.com/blog/suburban-illinois-jews-embracing-gop/?singlepage=true

 

[4est_4est_Gump]

The foundation of all AJ's beliefs.

We are all dying to discover the foundational aspect of my beliefs...


Please enumerate them.

 

[Wat_Tyler]

Wat has to wander off here shortly to go look at another stimulus package.


There are bills to pay and toys to buy.


Greedy Wat . . . who should be allowed to have toys???

 

[4est_4est_Gump]

Bills, toys and words of iron...

 

[Wat_Tyler]

This guy is interesting. He has an eighth-grade education and is a bank VP.


What are the odds against that ever happening again?


I bet he never took a self-esteem class, either.


And his wife is awfully darned cute, too. Same one.

 

[4est_4est_Gump]

It takes a village...

 

[4est_4est_Gump]

Here is a video where my moms dances a striptease for me VIDEO

Mom's dance
Moms dance
or
Mom dances

Pick one please for clarity...

 

[Wat_Tyler]

Dollars buy toys.


Wat is greedy.


Wat is stimulating his wallet.


Wat hopes those are all clear enough . . . outta here.

 

[4est_4est_Gump]

Dollars buy toys.


Wat is greedy.


Wat is stimulating his wallet.


Wat hopes those are all clear enough . . . outta here.

I will fell some winter wood...

 

[4est_4est_Gump]

Here are four lessons we can learn from Europe, a list of what not to do. Unfortunately, each example is still on somebody's "to do" list in Washington:

•Socialism does not work – Socialism in Europe and in this country always starts the same way – promise people free health care and free retirement and free housing and whatever free stuff wins political favor. Some claim that the "rich" will pay for it all. But, the rich do not have enough money. They may have enough to pay for the very poor, but not for everyone. So, the socialists borrow the money. That way, they are still giving the populace free health care. But, at some point you can't borrow the money anymore because the people you are borrowing it from realize that they can never be paid back. This is the tipping point at which socialism fails. Past this point, you have to tax the people to whom you promised the "free" stuff in order to pay for their "free" stuff (those people are the middle class). The people understandably don't want to give up their free stuff or have to pay for it. But, they will have to do one or the other. And, an entire generation will suffer.

•Don't delay fixes – Many of the debt problems of European countries were apparent years ago. But, they kept putting off the solutions for the reasons above. As a result, they got to a point at which the depth of the problem had eliminated the efficacy of most possible solutions. America has a debt problem. The problems in Europe have actually bought us some time as we remain "the cleanest shirt in a dirty laundry bag." But, not much time. The government has run up a trillion-dollar deficit in every year of Barack Obama's presidency, and will continue to do so under his current budget proposal. This cannot happen or we will descend into decades of economic darkness and reduced living standards. We need to get on it now.

•Don't try to fix it all at once: Big spending cuts and big tax increases imposed on a fragile economy will trigger recession. Such is the case in Europe and would be here. We should not fix our deficit in one year, even if we could find the political will to do so. We should move to a balanced budget over five to eight years with a combination of cuts, reforms and growth. The economy would not adapt well to the shock of pulling $1.3 trillion out of it in one year. And, if we take our time, the markets will react very favorably.

•Don't fool yourself: Some believe that socialism in Germany has worked, but they are missing something. The euro has been enormously helpful to Germany because it allowed the citizens of Greece and Spain and other less-productive countries to buy German goods using an overvalued common currency. If Greece (or any other country) leaves the eurozone, their new, lower-valued currency would greatly reduce the wealth of their population and will buy a lot fewer German goods. Germany has been enjoying a bubble supported by the euro, which undervalued German goods and overvalued the ability of others in Europe to buy them. Were this bubble to burst, Germany's output and, therefore, its social programs, would also come under strain. Germans will be the last people in continental Europe to feel the pain, but they will feel it.

John Campbell
http://www.ocregister.com/opinion/europe-363669-free-people.html

 

[4est_4est_Gump]

Still awaiting my "foundational belief system."

 

[4est_4est_Gump]

In the quarterly survey of 67 economists who work for companies or industry trade groups, 22 percent reported rising employment in July, down from about 30 percent in the last three surveys and 42 percent a year ago. On the positive side, only 9 percent said employment was falling. The rest said it was unchanged.

Just 39 percent of the economists surveyed reported rising sales at their companies in July, down from 60 percent in April. There was a similar trend on corporate profit margins, with 29 percent reporting rising margins in July, compared with 40 percent in April.

"The survey results suggest worsening economic conditions," said Nayantara Hensel, a business professor at National Defense University who analyzed the results for NABE. "The rising sales and profit margins experienced earlier in the year may have been short-lived."

...

Nearly two-thirds of the NABE members surveyed this month said they worried that their companies' sales would suffer if the tax cuts end and automatic cuts in federal spending begin in January because of Congress' failure to approve a long-term deficit-reduction plan.

As the economy continues to plod along at a sluggish pace, it's made forecasters gloomier about the next 12 months.

In the NABE survey, 40 percent said the economy will grow 2 percent or less over the next year. Three months ago, only 23 percent were that cautious.

That led them to lower their expectations for hiring. Only 23 percent predicted that employment will rise over the next six months, down from 39 percent who expected more hiring in April.

Read more: http://www.foxnews.com/us/2012/07/1...tic-as-early-2012-gains-wither/#ixzz20mZrWlGm

Nice to see the economists catching up to me...

 

[4est_4est_Gump]

Democrats threaten to go over ‘fiscal cliff’ if GOP fails to raise taxes

By Lori Montgomery, Published: July 15

Democrats are making increasingly explicit threats about their willingness to let nearly $600 billion worth of tax hikes and spending cuts take effect in January unless Republicans drop their opposition to higher taxes for the nation’s wealthiest households.

Emboldened by signs that GOP resistance to new taxes may be weakening, senior Democrats say they are prepared to weather a fiscal event that could plunge the nation back into recession if the new year arrives without an acceptable compromise.

In a speech Monday, Sen. Patty Murray (Wash.), the Senate’s No. 4 Democrat and the leader of the caucus’s campaign arm, plans to make the clearest case yet for going over what some have called the “fiscal cliff.”

http://www.washingtonpost.com/busin...ght-rages-on/2012/07/15/gJQAvybLnW_print.html


These clowns call their opposition every name in the book and wonder why they won't "compromise."

They pull every dirty trick they can think of and wonder why no one will work with them.

They vilify Capitalism and Big Business and threaten to take them down and then wonder why business won't fucking hire and make them look good in order to reelect them so they can continue to provide the structure and the tools to grow business, because nobody, but nobody can succeed without government!

 

[4est_4est_Gump]

Only 23% of US Companies Plan to Hire in Next 6 Months; "Lights Out" Moment Coming Up

http://globaleconomicanalysis.blogspot.com/

 

[4est_4est_Gump]

Obamacare insurance death spiral:

http://www.nationalreview.com/blogs/print/309441

Look what partnering with the government gets you.

If you don't believe them, ask the Catholic church about the Obamacare they rallied around...

 

[4est_4est_Gump]

This report is consistent with my report US Manufacturing ISM Contracts for First Time in Three Years; New Orders and Prices Plunge; Perfect Miss: 0 of 70 Economists Polled By Bloomberg Expected Contraction

Hiring plans are also consistent with the Case for US and Global Recession Right Here, Right Now.

All of a sudden, consumers and businesses alike are going to have a "lights out" moment where orders dry up, hiring dries up, and unemployment heads North.

If the NABE poll is correct (and it is certainly consistent with other data), that time has arrived.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
http://cdn.pjmedia.com/eddriscoll/wp-content/blogs.dir/24/files/2012/07/obama_unexpectedly_thumbnail_6-30-11-3.jpg

 

[unregistered]

 

[4est_4est_Gump]

They'll kill the nation before cutting spending.

The only thing that matters is political victory; they are the children of Sherman.

 

[RobDownSouth]

Obamacare insurance death spiral:

http://www.nationalreview.com/blogs/print/309441

Look what partnering with the government gets you.

If you don't believe them, ask the Catholic church about the Obamacare they rallied around...

Most people take personal responsibility for the health insurance of themselves and their family. Sadly, there will always be some freeloaders (yourself, VatAss, Byron for example) who try and game the system.

 

[JohnnySavage]

Democrats threaten to go over ‘fiscal cliff’ if GOP fails to raise taxes

By Lori Montgomery, Published: July 15


http://www.washingtonpost.com/busin...ght-rages-on/2012/07/15/gJQAvybLnW_print.html


These clowns call their opposition every name in the book and wonder why they won't "compromise."

They pull every dirty trick they can think of and wonder why no one will work with them.

They vilify Capitalism and Big Business and threaten to take them down and then wonder why business won't fucking hire and make them look good in order to reelect them so they can continue to provide the structure and the tools to grow business, because nobody, but nobody can succeed without government!

What's wrong with going over the "fiscal cliff"????

When you kick the can down the road, you shouldn't be surprised when you next approach the can and discover that it was, indeed, down the road. The fiscal cliff is the deal that was struck because Congress was (and has been) too cowardly and partisan to deal with the problem.

Based on past history, Congress will kick it down the road for another six months... then next Summer there will be wails, gnashing of teeth, and cries of, "how ever did we get here!?"

 

[4est_4est_Gump]

Eventually the road has a bridge out...


Kurosawa detailed it in Seven Samurai: When two gangs put off a fight, it only gets worse - when it gets this bad, they stop ordering coffins...

 

[JohnnySavage]

Eventually the road has a bridge out...


Kurosawa detailed it in Seven Samurai: When two gangs put off a fight, it only gets worse - when it gets this bad, they stop ordering coffins...

The current fiscal problems are 100% in Congress's court. They, not the President (whoever that may be in six months), have the authority to change the entitlement programs, as the costs of those programs are set by law.

Which means, of course, the problem won't be solved.

 

[4est_4est_Gump]

The current fiscal problems are 100% in Congress's court. They, not the President (whoever that may be in six months), have the authority to change the entitlement programs, as the costs of those programs are set by law.

Which means, of course, the problem won't be solved.

No, it's not. He controls the Senate and he has laid down to Harry what he will and will not veto.

He is not about to listen to the will of the people and when we speak out in the polls he entrenches even deeper like a picked-at tick...