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#1
08-04-2011, 06:08 PM
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The effing deficit is not the problem. Lack of jobs and growth is the problem.
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"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts 
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#2
08-04-2011, 06:12 PM
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If the plan is fully enacted, the deficits would shrink by less than $3 trillion over the next 10 years. That's less than the $4 trillion that bond rater Standard and Poor's said was needed to renew the government's AAA bond rating. It also fell short of what some investors were looking for. the deficit is a problem, one of several.
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#3
08-04-2011, 06:19 PM
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Quote:
The market, for the past month, has been much more concerned about lack of growth, than what particular amount the deficit will be cut by. That's what all the op eds in the financial publications have discussed - that the false fight over the debt ceiling is just bullshiat politicing. That (a particular amount) tied to our credit rating was only mentioned after the final deal was discussed (during the past week). And Wall Street has been talking to the GOP, the Dems and the President all along. Wall Street instructed Boehner that the debt ceiling would be raised, and knew we would not default. And I would like to remind you that Boehner and Obama agreed to a very good deal of $4 trillion in cuts, with increased tax revenue via closing loopholes - and the Tea Party nixed it, and the GOP who signed Grover's pledge backed off (even though Grover gave them an out, then reniged the next day) Boehner couldn't get that passed, even with the Democrats joining him. They had to drop it. So Wall Street now is snarking at the GOP, janking their leash. Wall Street doesn't care where the market goes, up or down. They just want to be in the appropriate position to make money. They make money out of the destruction of a civilization, just like they make money in the growth and buildup. Remember they are not making money on the selling of any goods, or any manufacturing - they are making money on gambling and speculating. So they don't give a shiat which way it goes, as long as somewhere in the world there's a place for them to store their profit, and there's a way to increase it.
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"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts Last edited by Riot : 08-04-2011 at 06:29 PM.
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#4
08-04-2011, 06:39 PM
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#5
08-04-2011, 07:04 PM
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I'll counter the WSJ op ed with another op ed, here: http://www.nytimes.com/2011/08/01/op...t-ceiling.html And this, "Why the market gods are angry" http://www.huffingtonpost.com/dylan-..._b_918934.html
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
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#6
08-04-2011, 07:47 PM
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We are so screwed ...
You know, we already did this. It was called the Great Depression. After a couple years when the economy started to look like it was improving, FDR tried to cut spending in response to deficit hawks in 1937, and the economy tanked, and we were screwed for 10 years in Depression.
We literally are repeating the same mistakes. The exact same mistakes. Unbelievable. http://thehill.com/blogs/floor-actio...eral-workforce Quote:
__________________
"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
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#7
08-04-2011, 08:27 PM
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You earned your Eagle Scout Moron Badge with this one.
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