Bush: Economy Needs $145B Shot In The Head.

Discussion in 'Politics & World News' started by jimmydean, Jan 18, 2008.

  1. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    eer, Arm. I meant arm.

    Link.

     

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  2. LordOpie

    LordOpie MOTHER HEN

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    absolutely idiotic. How can anyone support this?

    It's becoming an exponential downward spiral.
     
  3. LordOpie

    LordOpie MOTHER HEN

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    I should say, more to the point, if money is an issue, fvck Iraq and do a controlled withdrawl.
     
  4. Jim Mac

    Jim Mac MAKE ENDURO GREAT AGAIN

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    ...and upon that fabulous 7 minute speech by Bush, the market drops even lower...............
     
  5. Westy

    Westy the teste

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    Cool, we can buy 150 billion worth of chinese products.
     
  6. MMike

    MMike A fowl peckerwood.

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    NOt with your worthless currency.....
     
  7. Westy

    Westy the teste

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    I hope we get a refund. To quote Bender.

    "now what to do? Get a $300 hookerbot or 300 Dollar hookerbots"
     
  8. RenegadeRick

    RenegadeRick 98th percentile on my SAT & all I got was this tin

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    Yes it is.
    It's rare that I support Bush, but on this I would. After all, it is OUR money.
    Absolutely. It's gonna be a helluva ride.
    I would support this more, and it would have more benefit, but I'll take what I can get.
     
  9. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    But it would be twice as expensive to move troops from US soil into Iran, so keeping them in Iraq is far more economical for future war ventures.

    I want to know how the hell he is going to fund the war in Iran when he keeps cutting taxes?
     
  10. stevew

    stevew unique white person

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    monopoly money.
     
  11. Westy

    Westy the teste

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    That soon may be more valuable than the dollar.
     
  12. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    Last time I checked, the Canadian dollars was already stronger.
     
  13. SPINTECK

    SPINTECK Turbo Monkey

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    Why don't we just take back the divident tax cut that Bush passed in 2001?? If the richest 1% own 90% of the stock market, that would double the amount of revenue going to federal funing, basically going back to the clinton days. Of course that 1% is going to see more of that 145billion than any of us middle class.

    another idea, pay down the debt so more of our tax money goes to services and less goes to interest. Of course this again would be Clinton economics. Bill actually spelled that out in a speech, but I don't think americans understood that.

    I notice I'm sounding like a broken record, but suprised no one has given me sh1t for it.....yet. If you guys are sick of hearing it, tell me and I'll stop killing threads with it. Did I mention that rich Divident holders rule the world and this country:) Which is fine, but they should pay their fair share of tax and FICA.
     
  14. dante

    dante Unabomber

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    a new term for oil revenue?? :lighten:


    i think this is a complete boneheaded move, and can't fathom dumping an additional $150b onto the national debt... however, if this goes through ($800/working adult I think?), I will say "thank you Washington" and dump the entire $1600 (my wife and I) into CC debt, mortgage principal or possibly invest a small portion in the stock market if it looks sufficiently beaten-down. Based on the '01 tax "rebate", this will probably do jack to actually strengthen the economy...
     
  15. reflux

    reflux Turbo Monkey

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    So let me get this straight, is this economic stimulus package separate from his push to make the 2001 tax cuts permanent? Call me an e-economist, but that math doesn't quite add up.

    Stagflation is starting to not seem like a far-fetched concept.
     
  16. $tinkle

    $tinkle Expert on blowing

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  17. dante

    dante Unabomber

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    well...... that's an interesting question. right now:

    *However*. I want to know what the breakdown is on tax-deferred accounts vs after-tax accounts since you don't pay capital gains on those anyway? I would bet that if you took out any $$ that's currently in a tax-deferred account (401k, 403b, Trad IRA, Simp IRA, Roth IRA, etc), that 90% of the benefits of the cut in capital gains taxes went to the richest 1%.
     
  18. SPINTECK

    SPINTECK Turbo Monkey

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    Wow, nice challenge, but I though you would at least throw up some conservative numbers or maybe even a source.

    Give me 2 minutes.
     
  19. $tinkle

    $tinkle Expert on blowing

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    but that's not what he posted. he posted "if the richest 1% own 90% of the stock market". it appears you're making an inference that the source of the funds is without regard to the households being american. for his hypothetical (he did write "if") to be true, we would have to negate all foreign investment, which is certainly permitted in the stock market (if it even cares).

    just sayin'
     
  20. SPINTECK

    SPINTECK Turbo Monkey

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    So I heard this on Sunday Morning the TV show. So lets assume I concede and agree that's a liberal number, even conservative numbers put the stock market ownershop at 80% by the top 10%. I


    http://www.latimes.com/business/investing/la-op-klein9sep
    http://www.pww.org/past-weeks-2000/Stock Market gateway.htm


    http://www.communityknowledge.net/overaccumulation_ed.html
     
  21. $tinkle

    $tinkle Expert on blowing

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    while we've been circle-jerking, america has gone $45,000,000 more in debt.

    you know how many thai boys greenspan could get for that?
     
  22. Echo

    Echo crooked smile

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    The economy is screwed. The USA is screwed. And because of those two facts, the world is screwed.

    I really don't see any possible way it could be fixed, other than a catastrophic event that wipes out 90% of the world's population. Every time someone tries to make it better, they make it exponentially worse.
     
  23. Westy

    Westy the teste

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    Where are all the deficit spending apologists now?
     
  24. narlus

    narlus Eastcoast Softcore
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    put out the alert that there are free cosmos.

    that sound you will hear is the roar of a mighty FJ.
     
  25. $tinkle

    $tinkle Expert on blowing

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  26. reflux

    reflux Turbo Monkey

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    Not necessarily. Everyone who owns oil and Halibuton stock has done quite well.
     
  27. LordOpie

    LordOpie MOTHER HEN

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    Here's the thing, since coming off the gold standard, our money has been Monopoly Money. It's been kept afloat by the trust in the US Govt back it. We could print as much as we wanted.

    With the decline in the dollar, we're in trouble. If the world stops using US currency as a primary standard for global trade, then printing more just lowers the value.

    I know y'all know this, but I don't think the sky-is-falling message is being yelled loud enough.

    And a tax rebate only lowers the dollar's value even more, reducing confidence, and the spiral is fueled.

    Start stockpiling canned goods, alcohol, and fire arms.

    There's deficit spending and then there's fockin' stupid.
     
  28. narlus

    narlus Eastcoast Softcore
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    has there ever been another nation that aligned its currency w/ gold?
     
  29. $tinkle

    $tinkle Expert on blowing

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    i'm sure ancient rome or the greeks did
     
  30. LordOpie

    LordOpie MOTHER HEN

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    I don't remember, but I do know that fixing our currency to something solid helped establish it as a world currency and then subsequently going off the standard, we kept the money supply growth restricted.

    It was very respected, even if it was fake (fiat).
     
  31. Westy

    Westy the teste

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    Loopie just wants to drive the market up for his Jew's Gold.
     
  32. Changleen

    Changleen Paranoid Member

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    England had it till 1931.
     
  33. LordOpie

    LordOpie MOTHER HEN

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    And lost the Pound as the primary global currency after two wars by over-extending themselves (for a worthy cause).

    Too bad no one in DC reads history.

    We're doomed! Doooomed!
     
  34. Changleen

    Changleen Paranoid Member

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    I think you're in for a small economic correction.
     
  35. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    So you're saying the "War on Terror" isn't for a worth cause?

    How long have you hated freedom?
     
  36. LordOpie

    LordOpie MOTHER HEN

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  37. reflux

    reflux Turbo Monkey

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    So true, yet potentially so far off base. Perhaps the smartest sentence written in this thread thus far.
     
  38. dante

    dante Unabomber

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    ummmm, almost every other country in the history of the world.... :twitch:

    remember, currency USED to be gold. or other precious metals. the $5 gold coin in your pocket was worth $5 b/c it was made of $5 worth of gold. various stamping, engraving, etc were used so that people could rely on the fact that it really was $5 worth, and not $4.50, or $4, etc. edges were textured to prevent people from "shaving off" the sides to make it worth a little bit less.

    paper currency (in the US) started out as gold and silver certificates. you got a piece of paper that stated that you could turn in that piece of paper any time you wanted for it's worth in gold/silver. up until 1971 you had Silver Certificates (I've got some around someplace) that stated (something like):

    This note is legal tender for all debts, public and private, and may be exchanged for it's value at the US Treasury (can't remember the exact wording).

    It's only been since 1971 and Tricky Dick that the dollar hasn't been backed by... anything. Nothing, really, besides the economic weight of the US government. If the world all of a sudden decided that they didn't want the US greenback anymore, we'd be screwed and the dollar would be worth... ummm, the paper it's printed on?
     
  39. Plummit

    Plummit Monkey

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    The US did, abandoning it in 1933 as a means of fighting the Depression, but returning to a modified form in 1945. The dollar's relation to gold changed several times before finally floating free of the gold standard in 1972. Wikipedia

    This article claims the US took away gold backing to the dollar in 1971

    And more on the subject from Businessweek November 21, 2007
     
  40. SPINTECK

    SPINTECK Turbo Monkey

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    Yes, swiss is all gold backed as is South african currency - the legendary gold kuegeran.