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InvisibleShins
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Registered: 09/15/04
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17586620 - 01/21/13 06:25 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
So you're suggesting we continue to kick the can down the road?




are you suggesting we cut spending?


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OfflineFalcon91Wolvrn03
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Shins]
    #17586743 - 01/21/13 06:44 PM (11 years, 2 months ago)

Quote:

Shins said:
Quote:

Falcon91Wolvrn03 said:
So you're suggesting we continue to kick the can down the road?




are you suggesting we cut spending?



I'm for a balanced budget.


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.

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InvisibleShins
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17586817 - 01/21/13 06:54 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
Quote:

Shins said:
Quote:

Falcon91Wolvrn03 said:
So you're suggesting we continue to kick the can down the road?




are you suggesting we cut spending?



I'm for a balanced budget.




you do want to cut spending!

hallelujah


--------------------
http://yourlogicalfallacyis.com/

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InvisibleIcelander
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17586835 - 01/21/13 06:58 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
Quote:

qman said:
Quote:

qman said:
The economic fundamentals are still horrible at this point, the goal is to prevent economic collapse or depression, not prosperity.



being fiscally responsible would at this point equal severe economic depression.



So you're suggesting we continue to kick the can down the road?





It's a great idea from my perspective.  But I'm being selfish. :lol:


--------------------
"Don't believe everything you think". -Anom.

" All that lives was born to die"-Anom.

With much wisdom comes much sorrow,
The more knowledge, the more grief.
Ecclesiastes circa 350 BC

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Offlineqman
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17586993 - 01/21/13 07:29 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
Quote:

qman said:
Quote:

qman said:
The economic fundamentals are still horrible at this point, the goal is to prevent economic collapse or depression, not prosperity.



being fiscally responsible would at this point equal severe economic depression.



So you're suggesting we continue to kick the can down the road?




There is no other option, we had a choice in 2008, let the financial system collapse and start over, or paper over the problems, policy makers choose paper over the problems.

Who knows how long the QE solution will work?  At some point confidence will be lost in the financial markets, how they have kept it going this long is a miracle in my opinion.

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OfflineFalcon91Wolvrn03
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: qman]
    #17587374 - 01/21/13 08:37 PM (11 years, 2 months ago)

Quote:

qman said:
Quote:

Falcon91Wolvrn03 said:
So you're suggesting we continue to kick the can down the road?



There is no other option, we had a choice in 2008, let the financial system collapse and start over, or paper over the problems, policy makers choose paper over the problems.



We still have the choice to let the financial system collapse (althought that would be a very bad choice).  We can also start reducing the deficit at a rate that won't destroy the economy.

Quote:

qman said:
Who knows how long the QE solution will work?  At some point confidence will be lost in the financial markets, how they have kept it going this long is a miracle in my opinion.



Why don't you rewatch your own video?  It explains pretty well that we simply need enough to cover interest, which we can still do (see 7:00 - 7:30).  Once deficit spending or QE gets us out of the recession, then we need to stop deficit spending.


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.

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Offlineimachavel
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17587551 - 01/21/13 09:11 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
Quote:

qman said:
Quote:

qman said:
The economic fundamentals are still horrible at this point, the goal is to prevent economic collapse or depression, not prosperity.



being fiscally responsible would at this point equal severe economic depression.



So you're suggesting we continue to kick the can down the road?




what have you suggested that suggests any different? Tax hikes?

Kick the can... a little further... little further... little further... add some taxes... kick the can


--------------------
:kingcrankey: I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!

:facepalm: I'm never giving you the password again. Jerk

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Offlineimachavel
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17587558 - 01/21/13 09:12 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
Quote:

qman said:
Quote:

Falcon91Wolvrn03 said:
So you're suggesting we continue to kick the can down the road?



There is no other option, we had a choice in 2008, let the financial system collapse and start over, or paper over the problems, policy makers choose paper over the problems.



We still have the choice to let the financial system collapse (althought that would be a very bad choice).  We can also start reducing the deficit at a rate that won't destroy the economy.






With taxes? Taxes will fix that?


--------------------
:kingcrankey: I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!

:facepalm: I'm never giving you the password again. Jerk

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InvisibleShins
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17587605 - 01/21/13 09:18 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
We still have the choice to let the financial system collapse (althought that would be a very bad choice).  We can also start reducing the deficit at a rate that won't destroy the economy.




impossible.

Quote:

we simply need enough to cover interest,




QE adds to the deficit and interest on it, how is that going to work?

Quote:

Once deficit spending or QE gets us out of the recession, then we need to stop deficit spending.





and what if it doesnt?


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InvisibleShins
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Shins]
    #17587653 - 01/21/13 09:26 PM (11 years, 2 months ago)

Quote:

Shins said:
QE adds to the deficit and interest on it, how is that going to work?





hmmm i might be wrong about this actually.

apparently the fed buys bonds that are already in circulation.

no wonder the banks are making such huge profits,  the fed is printing money to buy up all their assets at a rate they would never sell normally.


Why is it a good thing that banks get to get free sales on their junk bonds?


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Offlineqman
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17587842 - 01/21/13 09:52 PM (11 years, 2 months ago)

Quote:

Falcon91Wolvrn03 said:
Quote:

qman said:
Quote:

Falcon91Wolvrn03 said:
So you're suggesting we continue to kick the can down the road?



There is no other option, we had a choice in 2008, let the financial system collapse and start over, or paper over the problems, policy makers choose paper over the problems.



We still have the choice to let the financial system collapse (althought that would be a very bad choice).  We can also start reducing the deficit at a rate that won't destroy the economy.

Quote:

qman said:
Who knows how long the QE solution will work?  At some point confidence will be lost in the financial markets, how they have kept it going this long is a miracle in my opinion.



Why don't you rewatch your own video?  It explains pretty well that we simply need enough to cover interest, which we can still do (see 7:00 - 7:30).  Once deficit spending or QE gets us out of the recession, then we need to stop deficit spending.





QE can never end, they may pause it for a brief period of time, but in reality QE is here to stay until they "reset" the monetary system.

QE has gone global, every major central bank has decided the same policy. Run large fiscal deficits, no worries, just create more debt. What if nobody wants to buy more debt? No worries, just print money to buy the debt. This is not going to end well.

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Offlineqman
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: qman]
    #17595437 - 01/23/13 09:24 AM (11 years, 2 months ago)

Falcon, How's that great tax and spend model doing over in Europe? Not so good it seems. The IMF is very generously forecasting slight negative GDP growth and recession, most know it's much worse.

http://www.zerohedge.com/news/2013-01-23/imf-cuts-global-growth-sees-2013-european-recession

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Offlineimachavel
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: qman]
    #17597054 - 01/23/13 02:55 PM (11 years, 2 months ago)

Quote:

qman said:
Falcon, How's that great tax and spend model doing over in Europe? Not so good it seems. The IMF is very generously forecasting slight negative GDP growth and recession, most know it's much worse.

http://www.zerohedge.com/news/2013-01-23/imf-cuts-global-growth-sees-2013-european-recession





He's gone for a few months for some reason, he pm'd me saying his career is contract based and he gets like a month off, comes here and drops his discussion on the forum, then takes off and is so busy with a 3 month contract or some shit he won't have time until summer.

Strange character, perhaps he's some lobbyist in disguise

:Awesketch:


--------------------
:kingcrankey: I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!

:facepalm: I'm never giving you the password again. Jerk

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Offlineqman
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: imachavel]
    #17597273 - 01/23/13 03:30 PM (11 years, 2 months ago)

Quote:

imachavel said:
Quote:

qman said:
Falcon, How's that great tax and spend model doing over in Europe? Not so good it seems. The IMF is very generously forecasting slight negative GDP growth and recession, most know it's much worse.

http://www.zerohedge.com/news/2013-01-23/imf-cuts-global-growth-sees-2013-european-recession





He's gone for a few months for some reason, he pm'd me saying his career is contract based and he gets like a month off, comes here and drops his discussion on the forum, then takes off and is so busy with a 3 month contract or some shit he won't have time until summer.

Strange character, perhaps he's some lobbyist in disguise

:Awesketch:





Too bad, I think the coming months will continue to prove that his fairytale economic outlook ends up turning into a nightmare.

I mean to suggest that the debt is payable, and higher tax rates and more taxes are the solution is usually a concept voiced from a uneducated liberal, Falcon doesn't have that excuse.

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Offlineimachavel
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: qman]
    #17598462 - 01/23/13 06:53 PM (11 years, 2 months ago)

Well, I'm not saying he's right. The debt is fairly clearly un payable, however, what do you suggest we do? Wait until the debt hits the "real ceiling" and just wait for the next crash to turn into the worst recession? There's gotta be something the lesser people can do, my suggestion has always been start more small business less corporations controlled at the federal level, but what do I know. Not much, still.. gotta be a solution besides taxes and/or just waiting around for the ceiling to come down.


--------------------
:kingcrankey: I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!

:facepalm: I'm never giving you the password again. Jerk

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Offlineqman
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: imachavel]
    #17625017 - 01/28/13 05:38 PM (11 years, 2 months ago)

Hey Falcon, your hero's are admitting what you fail to recognize.

http://www.zerohedge.com/news/2013-01-28/labor-minister-says-france-totally-bankrupt

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OfflineFalcon91Wolvrn03
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: qman]
    #17627087 - 01/29/13 12:56 AM (11 years, 1 month ago)

Quote:

qman said:
QE can never end, they may pause it for a brief period of time, but in reality QE is here to stay until they "reset" the monetary system.

QE has gone global, every major central bank has decided the same policy. Run large fiscal deficits, no worries, just create more debt. What if nobody wants to buy more debt? No worries, just print money to buy the debt. This is not going to end well.



You don't seem to understand the difference between creating money to cover interest on loans (which helps contribute to ~3% annual inflation in the US) and creating money for quantitative easing (a greater increase to the money supply).  QE will end when the recession does.

Quote:

qman said:
Falcon, How's that great tax and spend model doing over in Europe? Not so good it seems. The IMF is very generously forecasting slight negative GDP growth and recession, most know it's much worse.

http://www.zerohedge.com/news/2013-01-23/imf-cuts-global-growth-sees-2013-european-recession



They're model was doing fine until the global recession.  Now they've chosen austerity over spending.  How's that model working?

Quote:

imachavel said:
He's gone for a few months for some reason, he pm'd me saying his career is contract based and he gets like a month off, comes here and drops his discussion on the forum, then takes off and is so busy with a 3 month contract or some shit he won't have time until summer.



Not that it really matters, but here is my entire PM to you:

Quote:

It's been fun, but my break is over and I'm back to work.  Maybe I'll see you guys again in a few months.



How you reached the above conclusions from that is beyond me.

Quote:

qman said:
I think the coming months will continue to prove that his fairytale economic outlook ends up turning into a nightmare.



Please see my signature.  I never said there is a fairytale economic outlook.  However, conservatives have been predicting disaster since Obama took office, yet the markets have nearly doubled during his first term.

Quote:

qman said:
I mean to suggest that the debt is payable, and higher tax rates and more taxes are the solution is usually a concept voiced from a uneducated liberal, Falcon doesn't have that excuse.



No, it's a concept voiced by Nobel nobel laureate economists and proven by history.  The idea that lowering taxes will get us out of debt is usually a concept voiced by conservative talk show hosts without a college degree.

Quote:

qman said:
Hey Falcon, your hero's are admitting what you fail to recognize.

http://www.zerohedge.com/news/2013-01-28/labor-minister-says-france-totally-bankrupt



I've never heard of Michel Sapin.  Nor have I been talking about France.  But feel free to keep making things up if that's the only way you can "win" an argument.


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.

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Offlineimachavel
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17627279 - 01/29/13 02:54 AM (11 years, 1 month ago)

Ok first off now you are quoting my pm? Well.. you just re clarified, for some reason or another you had to go work for a few months and wouldn't be around... well I guess that's de bunked, wtf, here you are, stronger then ever

Second. You are calling conservative talk show hosts stupid? Wow this isn't straw man, especially not if you are making a contrast that liberal talk show hosts aren't total fucking retards. I can pick dumb asses off the top of my head to, and throw them toward your liberal view point:

http://videocafe.crooksandliars.com/heather/stephanie-miller-there-isnt-anything-bold

yeah she is so smart, you could just marry her. It's great to hear Stephanie Miller talk about Romney and Paul Ryan all day, months after the election, she is just so bright :tongue:

I suppose if Forbes insults the liberal agenda, it's because they are right sided and can't do math?:

http://www.forbes.com/sites/pascalemmanuelgobry/2012/10/19/no-the-united-states-will-not-go-into-a-debt-crisis-not-now-not-ever/

Since you enjoy posting statistics and predictions with mathematical figures, I was wondering if perhaps you could try and post predictions based on the statistics created by the liberal economic agenda, as of from 2008 to 2013, and try and explain how you think the current agenda will change these figures, or you could be as honest as you are when you are debating interest and public sector monetary values and how they relate to private monetary values and the value of currency etc. etc. etc.

For example I wouldn't argue that population increase increases interest rates because I'd have to prove that population increase increases supply and demand, which in corresponding relation isn't necessarily true, although it is generally true. What I can do, is argue a few facts, or maybe not argue, but present them, and hear you try and explain to me how the statistics are wrong, and if so why, if not, why not:

The following are 37 statistics which show how four years of Obama have wrecked the U.S. economy...

1. During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.

2. At the beginning of the Obama era, 32 million Americans were on food stamps.  Today, more than 47 million Americans are on food stamps.

3. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."

4. The number of Americans receiving money directly from the federal government each month has grown from 94 million in the year 2000 to more than 128 million today.

5. According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income" at this point.

6. The unemployment rate in the United States is exactly where it was (7.8 percent) when Barack Obama first entered the White House in January 2009.

7. When Barack Obama first entered the White House, 60.6 percent of all working age Americans had a job.  Today, only 58.6 percent of all working age Americans have a job.

8. During the first four years of Obama, the number of Americans "not in the labor force" soared by an astounding 8,332,000.  That far exceeds any previous four year total.

9. During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.

10. The Obama years have been absolutely devastating for small businesses in America.  According to economist Tim Kane, the following is how the number of startup jobs per 1000 Americans breaks down by presidential administration...

Bush Sr.: 11.3

Clinton: 11.2

Bush Jr.: 10.8

Obama: 7.8

11. Median household income in America has fallen for four consecutive years.  Overall, it has declined by over $4000 during that time span.

12. The economy is not producing nearly enough jobs for the hordes of young people now entering the workforce.  Approximately 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed in 2011.

13. According to a report from the National Employment Law Project, 58 percent of the jobs that have been created since the end of the recession have been low paying jobs.

14. Back in 2007, about 28 percent of all working families were considered to be among "the working poor".  Today, that number is up to 32 percent even though our politicians tell us that the economy is supposedly recovering.

15. According to the Center for Economic and Policy Research, only 24.6 percent of all of the jobs in the United States are "good jobs" at this point.

16. According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

17. According to the Economic Policy Institute, the United States is losing half a million jobs to China every single year.

18. The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

19. According to the World Bank, U.S. GDP accounted for 31.8 percent of all global economic activity in 2001.  That number declined steadily over the course of the next decade and was only at 21.6 percent in 2011.

20. The United States actually has plenty of oil and we should not have to import oil from the Middle East.  We need to drill for more oil, but Obama has been very hesitant to do that.  Under Bill Clinton, the number of drilling permits approved rose by 58 percent.  Under George W. Bush, the number of drilling permits approved rose by 116 percent.  Under Barack Obama, the number of drilling permits approved actually decreased by 36 percent.

21. When Barack Obama took office, the average price of a gallon of gasoline was $1.84.  Today, the average price of a gallon of gasoline is $3.26.

22. Under Barack Obama, the United States has lost more than 300,000 education jobs.

23. For the first time ever, more than a million public school students in the United States are homeless.  That number has risen by 57 percent since the 2006-2007 school year.

24. Families that have a head of household under the age of 30 now have a poverty rate of 37 percent.

25. More than three times as many new homes were sold in the United States in 2005 as were sold in 2012.

26. Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

27. Health insurance costs have risen by 29 percent since Barack Obama became president.

28. Today, 77 percent of all Americans live paycheck to paycheck at least part of the time.

29. It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

30. The total amount of money that the federal government gives directly to the American people has grown by 32 percent since Barack Obama became president.

31. The Obama administration has been spending money on some of the most insane things imaginable.  For example, in 2011 the Obama administration spent $592,527 on a study that sought to figure out once and for all why chimpanzees throw poop.

32. U.S. taxpayers spend more than 20 times as much on the Obamas as British taxpayers spend on the royal family.

33. The U.S. government has run a budget deficit of well over a trillion dollars every single year under Barack Obama.

34. When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent.  Today, it is up to 103 percent.

35. During Obama's first term, the federal government accumulated more debt than it did under the first 42 U.S presidents combined.

36. As I wrote about yesterday, when you break it down the amount of new debt accumulated by the U.S. government during Obama's first term comes to approximately $50,521 for every single household in the United States.  Are you ready to contribute your share?

37. If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.

But despite all of these numbers, the mainstream media and the left just continue to shower Barack Obama with worship and praise.  Newsweek recently heralded Obama's second term as "The Second Coming", and at Obama's pre-inauguration church service Reverand Ronald Braxton openly compared Obama to Moses...


from:

http://theeconomiccollapseblog.com/archives/37-statistics-which-show-how-four-years-of-obama-have-wrecked-the-u-s-economy


--------------------
:kingcrankey: I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!

:facepalm: I'm never giving you the password again. Jerk

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OfflineFalcon91Wolvrn03
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: imachavel]
    #17627383 - 01/29/13 04:18 AM (11 years, 1 month ago)

Quote:

imachavel said:
Ok first off now you are quoting my pm?



No.  I quoted MY PM.  I didn't post a word of what you PM'd to me.

Quote:

imachavel said:
Well.. you just re clarified, for some reason or another you had to go work for a few months and wouldn't be around... well I guess that's de bunked, wtf, here you are, stronger then ever



I'm only finishing the posts I was involved in.  I won't get into new ones (for now).

Quote:

imachavel said:
Second. You are calling conservative talk show hosts stupid? Wow this isn't straw man, especially not if you are making a contrast that liberal talk show hosts aren't total fucking retards.



Who do you think are the most popular conservative and liberal political pundits?

Quote:

imachavel said:
I suppose if Forbes insults the liberal agenda, it's because they are right sided and can't do math?:

http://www.forbes.com/sites/pascalemmanuelgobry/2012/10/19/no-the-united-states-will-not-go-into-a-debt-crisis-not-now-not-ever/



What liberal agenda did Forbes insult in that link???

Quote:

imachavel said:
Since you enjoy posting statistics and predictions with mathematical figures, I was wondering if perhaps you could try and post predictions based on the statistics created by the liberal economic agenda, as of from 2008 to 2013, and try and explain how you think the current agenda will change these figures, or you could be as honest as you are when you are debating interest and public sector monetary values and how they relate to private monetary values and the value of currency etc. etc. etc.



It's not clear what you're looking for.  Both sides knew the recession would be long and painful.

Quote:

imachavel said:
The following are 37 statistics which show how four years of Obama have wrecked the U.S. economy...

1. During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.

2. At the beginning of the Obama era, 32 million Americans were on food stamps.  Today, more than 47 million Americans are on food stamps.

3. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."

4. The number of Americans receiving money directly from the federal government each month has grown from 94 million in the year 2000 to more than 128 million today.

5. According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income" at this point.

6. The unemployment rate in the United States is exactly where it was (7.8 percent) when Barack Obama first entered the White House in January 2009.

7. When Barack Obama first entered the White House, 60.6 percent of all working age Americans had a job.  Today, only 58.6 percent of all working age Americans have a job.

8. During the first four years of Obama, the number of Americans "not in the labor force" soared by an astounding 8,332,000.  That far exceeds any previous four year total.

9. During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.

10. The Obama years have been absolutely devastating for small businesses in America.  According to economist Tim Kane, the following is how the number of startup jobs per 1000 Americans breaks down by presidential administration...

Bush Sr.: 11.3

Clinton: 11.2

Bush Jr.: 10.8

Obama: 7.8

11. Median household income in America has fallen for four consecutive years.  Overall, it has declined by over $4000 during that time span.

12. The economy is not producing nearly enough jobs for the hordes of young people now entering the workforce.  Approximately 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed in 2011.

13. According to a report from the National Employment Law Project, 58 percent of the jobs that have been created since the end of the recession have been low paying jobs.

14. Back in 2007, about 28 percent of all working families were considered to be among "the working poor".  Today, that number is up to 32 percent even though our politicians tell us that the economy is supposedly recovering.

15. According to the Center for Economic and Policy Research, only 24.6 percent of all of the jobs in the United States are "good jobs" at this point.

16. According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

17. According to the Economic Policy Institute, the United States is losing half a million jobs to China every single year.

18. The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

19. According to the World Bank, U.S. GDP accounted for 31.8 percent of all global economic activity in 2001.  That number declined steadily over the course of the next decade and was only at 21.6 percent in 2011.

20. The United States actually has plenty of oil and we should not have to import oil from the Middle East.  We need to drill for more oil, but Obama has been very hesitant to do that.  Under Bill Clinton, the number of drilling permits approved rose by 58 percent.  Under George W. Bush, the number of drilling permits approved rose by 116 percent.  Under Barack Obama, the number of drilling permits approved actually decreased by 36 percent.

21. When Barack Obama took office, the average price of a gallon of gasoline was $1.84.  Today, the average price of a gallon of gasoline is $3.26.

22. Under Barack Obama, the United States has lost more than 300,000 education jobs.

23. For the first time ever, more than a million public school students in the United States are homeless.  That number has risen by 57 percent since the 2006-2007 school year.

24. Families that have a head of household under the age of 30 now have a poverty rate of 37 percent.

25. More than three times as many new homes were sold in the United States in 2005 as were sold in 2012.

26. Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

27. Health insurance costs have risen by 29 percent since Barack Obama became president.

28. Today, 77 percent of all Americans live paycheck to paycheck at least part of the time.

29. It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

30. The total amount of money that the federal government gives directly to the American people has grown by 32 percent since Barack Obama became president.

31. The Obama administration has been spending money on some of the most insane things imaginable.  For example, in 2011 the Obama administration spent $592,527 on a study that sought to figure out once and for all why chimpanzees throw poop.

32. U.S. taxpayers spend more than 20 times as much on the Obamas as British taxpayers spend on the royal family.

33. The U.S. government has run a budget deficit of well over a trillion dollars every single year under Barack Obama.

34. When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent.  Today, it is up to 103 percent.

35. During Obama's first term, the federal government accumulated more debt than it did under the first 42 U.S presidents combined.

36. As I wrote about yesterday, when you break it down the amount of new debt accumulated by the U.S. government during Obama's first term comes to approximately $50,521 for every single household in the United States.  Are you ready to contribute your share?

37. If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.

But despite all of these numbers, the mainstream media and the left just continue to shower Barack Obama with worship and praise.  Newsweek recently heralded Obama's second term as "The Second Coming", and at Obama's pre-inauguration church service Reverand Ronald Braxton openly compared Obama to Moses...


from:

http://theeconomiccollapseblog.com/archives/37-statistics-which-show-how-four-years-of-obama-have-wrecked-the-u-s-economy



No, those show how the recession (which started prior to Obama) wrecked the economy.  Pick one that you'd like me to talk about that you think you can pin on Obama and not the recession.


--------------------
I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them.  I also attack my side if I think they're wrong.  People here get very confused by that and think it means I prefer the other side.

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Offlineqman
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Re: It looks like the feds won't cut much on the budget and will raise taxes [Re: Falcon91Wolvrn03]
    #17627785 - 01/29/13 08:29 AM (11 years, 1 month ago)

"QE will end when the recession ends."  (technically the recession ended in 2009, we have been in "recovery" for years.) 

I disagree with this statement, and so do many others. Yes, today we can make all of the interest payments on the debt, no issue there. We also have $1-1.5 trillion deficits on a yearly basis, who is going to buy all of this debt at historically low interest rates? 

The Fed will continue with QE to keep interest rates low, low rates must be manipulated lower at all costs, failure to do so would result in a economic meltdown. All the major central banks in the world are using QE for monetary policy.

John Williams when asked what happens if QE were to end, starts around 12.30, I recommend listening to the whole interview.

http://www.jsmineset.com/2013/01/28/may-2013-end-of-the-road-john-williams/

Jim Sinclair also has some thoughts on the subject.

http://www.jsmineset.com/2012/09/25/review-qe3-to-infinitythe-final-end-game/

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