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expatriate's picture
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Not Everybody Thinks It'll Work

Since you're prefer linking to thinking, Civet, here are some good ones for you. Market resumes downward trend in 5...4...3...2...

http://www.cnbc.com/id/29434104

http://www.politico.com/news/stories/0209/19418.html

http://thehill.com/dick-morris/its-obama-spreading-panic-2009-02-24.html

No one ever created wealth by spreading fear and putting the screws to the wealthy.

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Not Everybody Thinks It'll Work

lol

I read all the articles, though I got the gist in the first couple of paragraphs of all. It's true, the super rich are screaming bloody murder after having time to digest that projected budget. Time to return tax rates to where they were under Reagan. Heavens to Betsy! Oh the pain!

The speach mainly set them back on thier collective heels because it was so well delivered and because he used conservative frames to put his ideas forward. I loved seeing all those Republicans standing and clapping when he says he's going to raise tax rates on the rich, doesn't get much better than that.

Now people have had time to digest the document itself, and they are starting to get it. They are going to scream a lot louder by the time it's all over. If you would listen to what he says or read the actual documents you'd understand exactly what has them all het up. For years they've been feeding at the public trough, now that's over.

Markets down across the world today, best blame that on him too. I bet the DJIA drops another 3% today, woa is me.

I'lm loving all of it, especially watching famous conservatives get thier heads handed to them on a platter.

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Not Everybody Thinks It'll Work
Quote:
No one ever created wealth by spreading fear and putting the screws to the wealthy.

The late 1950s through the early 1970s saw a greater rise of income for the people of a country the world has ever known, we were dominant. We also had a huge middle class, with very small disparity in income. Coincidence?

expatriate's picture
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Not Everybody Thinks It'll Work

Man, is your thought process screwy. So you assume the presence of the middle class is only possible if you hold down the upper class? What kind of whacked-out communist drugs are you on?

There's very little income disparity in North Korea, too. A tight income spread isn't in itself a guarantor of economic success.

The world market is declining largely because we have the largest economy in the world -- larger than the next few combined. If we go down, the world goes down with us. They get that; why don't you?

Rebuilding the economy is largely a matter of confidence. People need to buy houses to help the housing market. They need to buy consumer goods. They need to hire employees. None of that is helped by a president who's running around feeding a panic in order to reinvent government in the chaos.

cowgal's picture
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Not Everybody Thinks It'll Work

Great links! I like the last line on the CNBC piece "There is a growing sense of buyer’s remorse. Well then, do conservatives dare say: We told you so?"

Civet, remember that Dick Morris was one of Clinton's advisor - a dem! He has been highly critical of Obama's methods.

expatriate's picture
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Dang...down another 300 points today. The global implications of this are enormous. Eastern Europe went democratic and has been pro-western for the past 10-15 years. Now their budding capitalist economies are hurting, they suspect Obama is going to turn his back on them, and there's Russia -- flush with cash and no doubt willing to bring them back into the fold like they did Kyrgyzstan. The strain is starting to show in Western Europe, too, as nations are starting to wonder about their commitment to a shared economy.

If this continues, it's entirely plausible to envision shifts in power and, if nations get desperate enough, a shift away from democracy and capitalism and a potential rise in ultra nationalism.

But I don't think the Dems care about that as much as they care about using fear to pursue their social agenda.

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The dems don't care one bit that savings, 401Ks & retirements are being decimated. They've got this crazy notion that only the utra-rich are being affected by the slide of the stock market. The piddly tax break the middle class folks are receiving won't make a dent in what they've lost in savings.

If this continues, there won't be any more wealthy to put the screws to! Heck there won't even be a middle class left!

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Not Everybody Thinks It'll Work

I don't remember Dick Morris, was gone most of Clintons term. I didn't think Clinton was that moderate on a lot of things, often right of center economicly. I did like him balancing the budget and having the cajones to raise taxes to do it. Balancing a budget is good to do.

I'm no predictor of markets, but I wouldn't be suprised to see a whole lot more come off this one on the way down.

Another 30 billion to AIG today. Obama would rather waste money than do what everyone knows has to be done. You know after your shares are under $1 for six months you can't be listed on the NY stock exchange any more. Citi, AIG? I don't know how much we're in the hole for AIG I think over 75 billion, a whole lot more than it's worth.

Expatriate with all due respect you spend most of a post telling how Europe is about to spin into anarchist tyrany then end by accusing the Dems of fear mongering? I listen to Rushbo too you know, lots and lots of fear. Fear sells.

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Expat wrote,

Quote:
What kind of whacked-out communist drugs are you on?

This is beneath your intellect Expat. Your one of the best debaters I've seen and this isn't neccessary to make your point. Additionaly I was unaware there were communist drugs. I've heard of little blue pills and little pink pills but not little red ones. I've noticed lately Civet has tried to be civil and polite. It wouldn't kill us folks on the right to do the same. Logic and manners lend credibility. Just saying.

expatriate's picture
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Point taken, Bunny.

Civet, I'm not the one the country is looking to for leadership. Markets don't crash based on what I say. It's another thing entirely for the leader of the country to add to the fear. And I'm not just talking about him saying things are bad. I'm talking about his bank-bashing, anti-corporate, punish the rich rhetoric that has had markets pessimistic about the future since it became obvious Obama had the election in the bag.

I've done a lot of study on international relations, and the situation in Eastern Europe bears watching. There are four aspects of national power: diplomatic, information, military, and economic. Conflict arises when fault lines appear between these nations along these elements. That has proven true throughout history, as when WWII grew out of the Depression. If Germany hadn't been struggling the way it was, it wouldn't have given Hitler the time of day. Desperate people resort to desperate measures.

Ukraine is a prime example of trouble on the horizon. Here's a link for you:

http://www.ft.com/cms/s/0/67fba682-075a-11de-9294-000077b07658.html

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Not Everybody Thinks It'll Work

The market has been headed down for a year and a half, the only steep decline I can see is Oct last year. Remember campaign suspended for banking crisis. You might not find Obama so scary if you actually listned to him speak. First hand he is calm and measured, helped him win the election, people wanted calmness.

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