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Thread: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

  1. #221
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    ap TODAY:

    Foreigners cut Treasury stakes; rates could rise - Yahoo! Finance

    RECORD DROP IN FOREIGN HOLDINGS OF US TREASURIES IN DECEMBER

    53 billion

    mostly china, of course

    GREATEST MONTHLY DECLINE IN FOREIGN HOLDINGS OF UNITED STATES T BILLS IN ALL THE LONG HISTORY OF THE WHOLE WORLD

    !!!

    big news, no?

    i wonder what it could possibly mean

    LOL!

    and THIS is all DESPITE what's going on in europe

    hard rain's a comin, folks

    doctor deficit doesn't know what he's doing

  2. #222
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    Lord Tammerlain's Avatar
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    ap TODAY:

    Foreigners cut Treasury stakes; rates could rise - Yahoo! Finance

    RECORD DROP IN FOREIGN HOLDINGS OF US TREASURIES IN DECEMBER

    53 billion

    mostly china, of course

    GREATEST MONTHLY DECLINE IN FOREIGN HOLDINGS OF UNITED STATES T BILLS IN ALL THE LONG HISTORY OF THE WHOLE WORLD

    !!!

    big news, no?

    i wonder what it could possibly mean

    LOL!

    and THIS is all DESPITE what's going on in europe

    hard rain's a comin, folks

    doctor deficit doesn't know what he's doing
    Which countries reduced their holding?

    Perhaps that will answer the question as to what it means

  3. #223
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    LOL!

    the meaning is all too clear, friend

  4. #224
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    FMHC replaced the CEO's of Freddie and Fannie

    As for AIG it just says the federal government
    Show a link

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    No it will not create jobs


    What you do not realize is that the recession is primarily due to excess debt in the US. Debt that people, business can not afford and are defaulting on.

    This cycle left unchecked will cause a deflationary spiral untill the debt is wiped out as anyone with significant levels of debt becomes bankrupt

    (Very bad and very quick)

    Instead of that route the government is going to create inflation. Inflation makes existing debt cheaper and easier to pay down. Everyone in the US will pay for the debt excess's of business and individuals who bought homes they could not afford. Instead of an economic collapse, you get stagflation for an extended period of time.

    Overall there is not way out of this untill the excess debt is taken care off. One way or another.

    The road to inflation is already in effect in the UK with Qualitative Easing ( effectively monetization of the debt)
    So then Obama is digging a deeper hole with no way out.

  6. #226
    I'm not-low all the time
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    So you think government does a better job with your money then you do?
    No need to put words into my mouth. The fact remains, the tax cuts were saved and not spent, therefore negating the purpose of the stimulus. Unless of course..... national savings (borrowing from abroad) does not matter much.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    ap TODAY:

    Foreigners cut Treasury stakes; rates could rise - Yahoo! Finance

    RECORD DROP IN FOREIGN HOLDINGS OF US TREASURIES IN DECEMBER

    53 billion

    mostly china, of course

    GREATEST MONTHLY DECLINE IN FOREIGN HOLDINGS OF UNITED STATES T BILLS IN ALL THE LONG HISTORY OF THE WHOLE WORLD

    !!!

    big news, no?

    i wonder what it could possibly mean

    LOL!

    and THIS is all DESPITE what's going on in europe

    hard rain's a comin, folks

    doctor deficit doesn't know what he's doing
    Tell us about the personal wealth situation in China.

    This should be fun.

    What is the function of savings???

    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goldenboy219 View Post
    No need to put words into my mouth. The fact remains, the tax cuts were saved and not spent, therefore negating the purpose of the stimulus. Unless of course..... national savings (borrowing from abroad) does not matter much.
    Critics of Tax Cuts Were Wrong, Bush Says


    Since 2001, the tax relief we delivered has left $880 billion in the hands of American workers, and small businesses, and families like yours, and you used that money to help produce more than four years of uninterrupted economic growth. Last year, our economy grew at a healthy 3.5 percent, faster than any other major industrialized nation.

    One politician in Washington said in 2003 that our tax cuts were "ruining our economy and costing us jobs." The truth is that since August 2003, America has added almost 5 million new jobs. Our unemployment rate is now 4.8 percent -- lower than the average of the 1970s, 1980s, and 1990s. Real after-tax income is up 8 percent per person since the beginning of 2001. More Americans now own their own homes than at any time in our history, and minority homeownership is at record levels. Consumer confidence is at its highest level in nearly four years. Productivity has grown strongly over the past five years, and our small business sector is thriving.

  9. #229
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    So then Obama is digging a deeper hole with no way out.
    There is a way out but it it in the future, 10 years out at least in my opinion

    To use your hole analogy

    Without government stimulus

    You and your family walk up to the grand canyon, stand on the edge, and someone pushes you and your family over the edge. You and your family go tumbling down, hitting the sharp rock edges breaking bones on the way. Perhaps one or more die from the fall. You fell 200 feet very quickly and violently. Now you are free to take your remaingly family members out of the canyon. It will take time to climb out of it but you will

    With government stimulus

    You stand at the edge of the grand canyon with your family, a group of banksters forces you and your family to walk to the bottom of the grand canyon, it takes a while, no one is injuried, or potentially killed, but you had to walk down total of 300 feet, you can now walk out, but it is going to take even longer then without government stimulus.

  10. #230
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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Goldenboy219 View Post
    Tell us about the personal wealth situation in China.

    This should be fun.

    What is the function of savings???

    what a poser

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