Carne Seca
Well-Known Member
Then thank the GOP.
Watch the Stock Market tomorrow.
- Thread starter Carne Seca
- Start date
.......and not the Mayan calendar?
Anyone relying on political efforts to prop up their asset prices is going to become poorer as we crash into the debtberg. As for tomorrow and next week, the low volume insures that anything can happen. The machines can easily keep a low volume market afloat over the holiday interim sessions. However, it is a high probability that 2013 will see the start of the long, grinding decline that has now been successfully postponed for going on 4 years.
MuyLocoNC
Well-Known Member
Really?
And what "fiscal cliff" avoiding legislation have the Democrats passed and sent to Congress? I've heard Reid say they won't even hear anything passed in Congress and I've heard Obama say he will veto anything they pass, but I haven't actually seen them do shit. Just a lot of yapping to an adoring press core.
Must be nice to have trained chimps in the media regurgitating your talking points, so you don't have to do your fucking job. When they actually pass something, then they can talk shit.
You might not have heard about it, but Congress PASSED a plan on August 1 that extended the current tax rates. That's right numbnuts, they ALREADY PASSED IT. It's sitting in Reid's ignore file.
Here's two quotes from Harry Reid that show how badly they want to avoid the fiscal cliff.
Yup, they're hard at work trying to help you out.
Douche.
doublejj
Well-Known Member
They went home for Xmas, no vote
NLXSK1
Well-Known Member
No, because he didnt have the votes to pass tax increases...
canndo
Well-Known Member
Of course your faulty presumption is that Repblicans would this time only, go ahead and help pass anything Obama puts before them.
Hasn't happened yet, but you seem to think it would have in this case. It is very clear that the Republicans are still living on some other planet.
canndo
Well-Known Member
Actually, aside from their foolishness in delaying the entire issue, in this case the Dems are absolved. Obama put forth a compromising position and the Republicans ignored it. the thing about compromises and negotiations is that it takes two parties participation in order for it to work. Republicans have not yet gotten it into their heads that they LOST the election and they have an ever shrinking position from which to deal.
If this results in an economic setback they will try to blame Obamacare and an intrasigent president. That won't work this time, Obama may well make every effort to spank them for the next two years. In 14 the Pubs asses are going to be hanging out of their pants and they still, still have not figured that out yet. If 90 percent of the folks wind up paying a couple of grand extra while the rich ever still get their free ride it will go very very badly for them. A bullet proof Senate and Dem posession of the house will mean the Repubs will be boot licking for the duration.
Course they don't see it that way.
All this finger pointing is downright comical. At this point, there isn't a goddamned thing that any politician can do to bail anybody out. The collective debt levels - globally - are so far off the historical trends that an epic collapse in asset prices - and all that goes with it - is inescapable.
But by all means, keep the righteously indignant magical thoughts a flowin'...your favorite politician will certainly approve.
But by all means, keep the righteously indignant magical thoughts a flowin'...your favorite politician will certainly approve.
ginwilly
Well-Known Member
FIS CAL CLIFF!! FIS CAL CLIFF!! FIS CAL CLIFF!!
I hate to say it but the only way we get any real spending cuts is to go over this little speed-bump. Naturally, the spending cuts will be erased by the end of the next 4 years with shiny new increases but it's still needed.
The only things the dems have offered to cut is some of the new programs started this year or are planned to start soon and our bloated defense budget is off limits to the pubs. This is the ONLY way any serious cuts will be made.
I'm still on the fence with tax increases, but feel they should either not go up for anyone or go up on everyone. If Laffer was right, and he's a pretty smart dude, revenues going up will let us know if we are on the left side of his curve or not. If revenues go down, as many suggest, then they get to be right and tax cuts will be an easy sell.
Think about this for a second to realize how bad we've allowed these clowns to let it get, even going over the cliff won't balance the budget. This is where we are now. People are acting like it's going to cause famine and pestilence, yet it's still not enough to get us to the point where we are not borrowing anymore. Paying down the debt still won't be an option.
I hate to say it but the only way we get any real spending cuts is to go over this little speed-bump. Naturally, the spending cuts will be erased by the end of the next 4 years with shiny new increases but it's still needed.
The only things the dems have offered to cut is some of the new programs started this year or are planned to start soon and our bloated defense budget is off limits to the pubs. This is the ONLY way any serious cuts will be made.
I'm still on the fence with tax increases, but feel they should either not go up for anyone or go up on everyone. If Laffer was right, and he's a pretty smart dude, revenues going up will let us know if we are on the left side of his curve or not. If revenues go down, as many suggest, then they get to be right and tax cuts will be an easy sell.
Think about this for a second to realize how bad we've allowed these clowns to let it get, even going over the cliff won't balance the budget. This is where we are now. People are acting like it's going to cause famine and pestilence, yet it's still not enough to get us to the point where we are not borrowing anymore. Paying down the debt still won't be an option.
ink the world
Well-Known Member
The congressional Teabaggers are having another tantrum.
Let em take us over the cliff, further marginalize these extremists and they'll be politically extinct after the next election cycle. A hefty price to pay for legislative sanity, but worth it in the long run.
Let em take us over the cliff, further marginalize these extremists and they'll be politically extinct after the next election cycle. A hefty price to pay for legislative sanity, but worth it in the long run.
How about that stock market today? Dow, S&P500, and Nasdaq indexes are all down less than 1%. What a disaster. Sarcasm aside, that after-market flash crash last night was an omen of things to come. If it had happened during market hours outside of an imminent holiday weekend, that would have gotten some investor attention.
ginwilly
Well-Known Member
you need to realize those teabaggers were elected to do exactly what they are doing. The will of the constituents and all that. Why do you have such hate for people who want different things than you? You want to leave the country in worse financial shape for the next generation for the first time in 80 years. Just keep on borrowing money, deficits don't really mean anything as long as we get ours now.
The younger generation has taken to the streets in Greece is a result of past generations doing exactly what we are doing now. Over there, not only are they not going to get the same services (i.e. free shit) their parents received without paying for, they are going to have to pay the bill now. I think that's immoral.
ChesusRice
Well-Known Member
Actual the bulk of tea baggers misrepresented their postions
That is why so many of them lost this last round
and the rest are on the way out next election