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(Bloomberg)   U.S. economy running at "stall speed." That's ludicrous   (bloomberg.com) divider line 26
    More: Ironic  
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634 clicks; posted to Business » on 03 Aug 2011 at 10:47 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2011-08-03 10:06:11 AM
I thought all our problems were over if Obama just got a bigger credit card limit.
 
2011-08-03 10:15:02 AM

I_C_Weener: I thought all our problems were over if Obama just got a bigger credit card limit.


You do understand that when Republicans tell you what Democrats are thinking - that they're lying to you right?
 
2011-08-03 10:24:31 AM

I_C_Weener: I thought all our problems were over if Obama just got a bigger credit card limit.


No one was saying that.

And where the fark were you when we were purchasing stuff and putting it on that card?
 
2011-08-03 10:36:14 AM
So you two are ready to talk balancing the budget and cutting spending and raising taxes to the tune of $1.6 trillion per year? If not when the debt ceiling was being held hostage why would I believe you are now when the pressure has been relieved for a time
 
2011-08-03 10:48:49 AM

I_C_Weener: So you two are ready to talk balancing the budget and cutting spending and raising taxes to the tune of $1.6 trillion per year? If not when the debt ceiling was being held hostage why would I believe you are now when the pressure has been relieved for a time


The Republicans weren't ready to talk about those things until they got an opportunity to embarrass Obama. And they're not serious about a balanced budget. They don't want it because they've already lost earmarks and spending is their last access to pork. A balance budget would also rob both parties of a weapon with which to bludgeon the other.

You have a hard time believing me now? Well I have a hard time believing that after 8 years of unrestrained spending by the GOP, Orrin Hatch (who hilariously voted against the debt deal) saying "We didn't worry about how to pay for things," and Cheney saying "Deficits don't matter," that the GOP is a party of their word.
 
2011-08-03 10:53:45 AM
and the tea party has just cut the engines.
 
2011-08-03 10:59:59 AM

I_C_Weener: I thought all our problems were over if Obama just got a bigger credit card limit.


I thought the Republicans said deficits don't matter?

Oh, I forgot, you want to turn a blind eye to the Republican asshattery (no cuts to defense spending? no increase in taxes, EVAR! always voting in lock-step to increase the debt limit until Obama is in charge) and only call out the Democrats / Obama on it. Gotcha.
 
2011-08-03 11:13:31 AM
In before the Spaceballs references.
 
2011-08-03 11:14:00 AM
thehundreds.com
Just getting this thread on track. You're welcome.
 
2011-08-03 11:15:47 AM

Cybernetic: In before the Spaceballs references.

In by 29 seconds.

:shakes tiny fist:
 
2011-08-03 11:26:00 AM

Diogenes: The Republicans weren't ready to talk about those things until they got an opportunity to embarrass Obama.


"They wouldn't do it, so I won't be a grown up either!!!"

Politics...kindergarten. Can YOU tell the difference?
 
2011-08-03 11:29:00 AM

I_C_Weener: Diogenes: The Republicans weren't ready to talk about those things until they got an opportunity to embarrass Obama.

"They wouldn't do it, so I won't be a grown up either!!!"

Politics...kindergarten. Can YOU tell the difference?


Can't argue with your characterization. But I don't think Obama was anticipating the circus over what has normally been a rather common, mundane act.
 
2011-08-03 11:43:29 AM
t3.gstatic.com
            "They've gone plaid!"
 
2011-08-03 11:55:04 AM

I_C_Weener: I thought all our problems were over if Obama just got a bigger credit card limit.


The Dow is down about $350.00 since the House passed the budget deal. Remember all the analysts who said the market would sink if no debt deal were to pass? The only thing that makes us look good is that the Eurozone may be torn apart. PIIGS et al

Next up, the ratings agencies will lower the United States to AA or below.

Trial balloons are already being sent up about QE3. Get ready for a further devaluation of the dollar and increased commodity prices.
 
2011-08-03 11:58:39 AM

Diogenes: I_C_Weener: Diogenes: The Republicans weren't ready to talk about those things until they got an opportunity to embarrass Obama.

"They wouldn't do it, so I won't be a grown up either!!!"

Politics...kindergarten. Can YOU tell the difference?

Can't argue with your characterization. But I don't think Obama was anticipating the circus over what has normally been a rather common, mundane act.


Hard not to expect it since it has been coming since the 2010 elections. Sure, there was plenty of "Oh noes, teh gheys"...but the spending reduction message has been there consistently by the Tea Party, and those affected by them.

Doesn't matter though. None of the packages that were on the table even came close to slowing the spending, much less reducing the deficit. We are now, officially doomed.

Doomed I say.
 
2011-08-03 12:05:54 PM

Diogenes: Can't argue with your characterization. But I don't think Obama was anticipating the circus over what has normally been a rather common, mundane act.


A circus? It was brinkmanship. Not a single Democrat Senator voted for raising the debt ceiling in 2006. You remember what Obama, Biden, and Reid said about raising the ceiling in 2006? Remember what Obama said about having to immediately pass the $787,000,000,000.00 stimulus bill?

It's a play with both sides of the aisle and the Chief Executive doing the typical kabuki dance. The losers are the American people.

I think I might invest in the Swiss Franc. (Not investment advice, just my personal uneducated opinion)
 
2011-08-03 12:20:29 PM

dosboot: A circus? It was brinkmanship. Not a single Democrat Senator voted for raising the debt ceiling in 2006. You remember what Obama, Biden, and Reid said about raising the ceiling in 2006?


So let's put this in context. Did any of them try to stall that vote? Did any of them demand tax increases for that vote? What was the economy like then? Were there things that could have been done at the time to reduce the deficit?
 
2011-08-03 12:24:33 PM

dosboot:
I think I might invest in the Swiss Franc. (Not investment advice, just my personal uneducated opinion)


CAREFUL. The swiss gov just dropped their interest rates to zero to fight the rise on the swiss franc and also announced they will not stop there to ensure it doesnt get out of control.

Be VERY careful or your investment will look like swiss cheese. Timing will be everything, unless of course you are talking about having george sorros type money and you wanna replay the early 90's with the swiss franc instead... Then by all means have at it.
 
2011-08-03 12:32:03 PM
More Spaceballs please. At work, need laughs.
 
2011-08-03 12:47:49 PM
They call that "terminal velocity", but don't worry.

I've seen this happen in a Bugs Bunny cartoon. You'll run out of gas and the economy will pull up short before it hits the ground. Then you'll be able to step safely on to terra firma, laughing at the Glenn Becker-heads who bought artistic gold coins at a 95% mark up at the peak of the bullion bubble.
 
2011-08-03 01:05:18 PM

poisonedpawn78: dosboot:
I think I might invest in the Swiss Franc. (Not investment advice, just my personal uneducated opinion)

CAREFUL. The swiss gov just dropped their interest rates to zero to fight the rise on the swiss franc and also announced they will not stop there to ensure it doesnt get out of control.

Be VERY careful or your investment will look like swiss cheese. Timing will be everything, unless of course you are talking about having george sorros type money and you wanna replay the early 90's with the swiss franc instead... Then by all means have at it.


Thanks for your input. I will take a further look at this. I just don't know where to move my money. I'm currently in oil, oil services, Canadian nat gas/fracking, and railroad stock. I did well last year. This year, not so much.

If I had George Soros kind of wealth, I would be retired and living the life of Riley.
 
2011-08-03 02:00:48 PM
Headline's not bad, but with "stall speed" I was expecting a toilet joke. I mean really, the economy's just about in the sh*tter.
 
2011-08-03 03:22:07 PM

I_C_Weener: I thought all our problems were over if Obama just got a bigger credit card limit.


www.majhost.com
 
2011-08-03 03:54:56 PM

dosboot: I think I might invest in the Swiss Franc. (Not investment advice, just my personal uneducated opinion)


The only reason that you put your money in Switzerland is if you got it illegally or are trying to evade taxes. Your return on available investments will be so bad that after inflation you will be paying the Swiss to keep your money for you. You might want to take a look at Singapore, though - it's essentially a proxy for investing in China minus the crooked banking and with the cost of Chinese corruption already built into the price.

/suspect they gave up the small amount of caught tax cheats in exchange for governments looking the other way on illegal Drug Money
//it's a $300 billion/year business - all that money has to go somewhere
 
2011-08-03 08:01:30 PM
QE3? Color me unsurprised.

Hell, yeah, it's in stall speed. The whole American economy is a bubble built on the limited labor of a pre-global society. That becomes less of problem every day, and there's nowhere for us to go but down.
 
2011-08-03 11:08:45 PM

beta_plus: dosboot: I think I might invest in the Swiss Franc. (Not investment advice, just my personal uneducated opinion)

The only reason that you put your money in Switzerland is if you got it illegally or are trying to evade taxes. Your return on available investments will be so bad that after inflation you will be paying the Swiss to keep your money for you. You might want to take a look at Singapore, though - it's essentially a proxy for investing in China minus the crooked banking and with the cost of Chinese corruption already built into the price.

/suspect they gave up the small amount of caught tax cheats in exchange for governments looking the other way on illegal Drug Money
//it's a $300 billion/year business - all that money has to go somewhere


Thanks re: Singapore
I trying to venture out of equities. The problem is that I'm a dullard when it comes to other investments.... And women, running a business etc etc
 
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