Democrats erupt over latest plan on debt ceiling
Many worry that Obama might retreat from his demand that revenue increases, opposed by Republicans, be part of any plan to slash the federal deficit.
No new taxes? Oh the unimaginable horror.
Disrupting the Borg is expensive and time consuming!
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Will President Obama be able to live with himself if he actually doesn’t raise taxes and cuts spending?
Speaking of politics……
A Democrat defends Michele Bachmann over the “establishment” Republican attack on her.
http://www.youtube.com/watch?v=QWKA4zjHolI
Anyone besides me like to see a Romney vs. Bachmann debate, then an Obama vs. Bachmann debate?
Hell yeah.
In 2008, the Republicrats sent up what had to be the only person on planet Earth who could have lost in a teleprompter-less debate with Barry. And even that was too close to call!
This child, President Dumbo, was in the Senate for hundred some odd days, just long enough to be rated as the most liberal member (quite an achievement). And all he ever knew prior to that was Anti-American propaganda from all the Communists he was exposed to. Oh yeah, a short stint in politics at the local level in Chicago. Impossible to imagine any less qualified including McGovern, Carter and Mondale.
Who could not possibly mop up the floor with him! West would positively destroy him, and send him home crying like a little girl.
I think Bachmann could go the distance. I’ve contributed to her campaign. But if Perry steps in, I’m supporting him. Maybe he would pick Michelle for his Veep…… Or Paul Ryan would be good.
But I don’t know if this country will survive the destruction until 2012. I really don’t. And you can bet team Oblivious plans to cheat in every way in 2012. God help us.
The real destruction starts in 2013 and I question if it matters at that point who is in office. Obama is relying on the Fed to prop up the economy enough until the election; QE3 anyone? Hyper inflation is coming and so is more EPA tyranny among other dictates from Premier Obama to gather his flock of government dependents expecting more handouts.
Don’t forget Obamacare doesn’t really kick in until after 2012.
If Romney gets the nomination, I will be voting for a third party.
QE3 anyone?
It is on the way. I leaned from a Milton Friedman book that money printing in bad economic times is done intentionally. And it’s not for trying to help fix the economy. It’s for protecting the bankers/Wall St./rich. Their stock prices go up just like everything else goes up when money is printed. So their net value continues to go up and stays the same in the inflation. They ride the inflation up. Then when the crash hits they either get out of their stocks or short the stocks. They make a mint on the short. All the while the middle class and poor go down the drain.
So you can be assured that those who can save themselves, i.e., those with the printing presses, will save themselves.
According to Chriss Street, most of the 600 billion in the recent quantitative easing by the Fed has gone into European banks. (It required an FOIA request to find this out.) In other words, it was another bank bailout.
“So you can be assured that those who can save themselves, i.e., those with the printing presses, will save themselves.”
===============================================
Yes, this is the insidious lie that has been told to the working class of the U.S. I’ve watched it unfold since I started working.
Back in the 80s, many people were convinced, we could all be millionaires, through IRAs and retirement funds. The laws regarding the IRAs were changed. Our retirement funds were transitioned to investment funds. The thought being our market will continue to grow so if one made small minor investments into the market over a long period of time, there will be a rather large nest egg at the time of retirement. What can go wrong? I railed against it then, and I continue to rail against it now.
Whether we all become millionaires or not remains to be seen, but if we all do, it will hold no value. Every day, through 401K plans and the like, millions of dollars are blindly thrown at the market. This artificially props the market up. Our total market value will be at the value as determined by the wealthy. Apparently, it was decided, some time ago, that the proper level of the market should be in the 10,000 – 12,000 range. I was day-trading when the market went above 10,000 for the first time. This was in the 90s. It really hasn’t moved since then in terms of real value. Any time we see it drop below 10,000, all we are witnessing is profit taking by the wealthy. They will do this every time there is a currency crisis and they can do this with reckless abandon. Why? Because they know the working class will perpetually prop up the market with their $millions being blindly thrown in to the market on a daily basis. Wait for it to get about 12,000 and watch the profit taking. When it gets to down to 10,000 or less, watch the it grow again. If rampant inflation hits, the number will go up, but the value will remain the same.
There’s much more to say about this, but it probably couldn’t be summed up and a book much less a comment on a blog.
Taxing the wealthy doesn’t do anything but cause more hardship and labor on the part of the working class. I wish the imbecilic Dims would quit trying to help us.
Possibility of a spending cut.Oh the horror!
No wonder the Dem’s are in a panic.
Some republicans understand they are running out of OPM. Democrats think that OPM is the only non-limited pie in economics.