US Stocks Down 15% in 2 Weeks (user search)
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  US Stocks Down 15% in 2 Weeks (search mode)
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Author Topic: US Stocks Down 15% in 2 Weeks  (Read 7325 times)
Ban my account ffs!
snowguy716
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« on: August 08, 2011, 07:55:35 PM »

This is exactly 2008 all over again.  Hell, even the global weather is analogous to 2008.
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Ban my account ffs!
snowguy716
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Posts: 22,632
Austria


« Reply #1 on: August 08, 2011, 08:39:54 PM »

And thank you President Obama for providing this leadership to new depths.

Yes, Obama's leadership can be blamed.  But what about the GOP's unwillingness to raise taxes? We got into this mess due to tax cuts and we have to get out of it by slowly raising the tax rates back up. If anyone thinks we can escape the mess without raising taxes, they don't deserve to be in Washington. Those people are completely naive and unwilling to face reality. (and yes the Dems who won't cut Medicare are the same, but they aren't so powerful, are they now?)

Who is disagreeing?  I think part of this increasing income taxes.  I think it takes someone to do both.  I'd be willing to give Obama a pass on being a tax and spend liberal if he wouldn't do the spending part.

Dude Obama already agreed to huge spending cuts,


Reality check, Obama had little choice but to agree to reducing the growth of spending from its projected growth of nine trillion dollars to, maybe, five trillion dollars. Only in Washington is spending five trillion dollars more a "cut."



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Say you get paid $55,000 in 2011.  And you get paid $55,000 in 2012.

You go out and buy $55,000 worth of groceries in 2011.  You inventory them.

Then you go and buy $55,000 worth of groceries in 2012 after a 5% inflation in foodstuffs prices.  You inventory them.

You find you have 5% less food than in 2011.

Only in the mind of a hack Republican is that not a cut.
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Ban my account ffs!
snowguy716
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Posts: 22,632
Austria


« Reply #2 on: August 09, 2011, 03:54:29 AM »

You have enough structural problems to bring down "the system".

Oil has finally given up the ghost -- $76.

Oil is basically what drove us to this point.  Expensive oil, consumer spending is lackluster... so companies don't stock up on stuff and are reluctant to hire...

Oil will crash... the economy will start to mend slowly.  And then as soon as the economy shows signs of growing again (albeit from a lower position than we are now), oil will spike again.  And the process repeats itself.

This is what happens when we literally can't produce more oil than we already are.  You get price shock after price shock.  And then one day, there will be a collapse and we won't bounce back out of it.  No matter how much we drill off of Nantucket or in North Dakota or wherever. 

Thank God the climate change dogma has died back.  That might buy us a little time.
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