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InGameStrategy said:
The job numbers will not provide relief.

The debt ceiling deal is expected to cost the U.S. economy anywhere from several thousand jobs to (according to the Economic Policy Institute) nearly two million jobs.

Until the American people insists on increases in tax revenue (starting with the wealthy and the corporations, who are currently enjoying decades-low tax rates and record cash levels but aren't using their cash to hire people) so that the billions being hoarded is actually injected into the economy, expect the economy to continue to sputter.

Oh--and btw--graduate students (some of whom develop and implement economy-building technical expertise) will suffer from the economy also.
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The derivatives market and the turnaround(buying and selling) each year within that market is huge. Slap a <1% tax on the turnaround and your fiscal hole is gone very quickly. Granted, whatever the turnaround is now would slip, but it's big enough that you could lose 90% of the volume in that market and it would still patch your fiscal hole up and pay off the entire 14 trillion. That's a much better solution than you'll hear elsewhere. I think the better option is to get rid of most of that market in and off itself, but if it's going to be allowed to operate as is, that's the route you go.

Now, the problem is I don't think the debt that the US is on the hook for is anywhere near 14 trillion. But at least since that is the interest bearing number that is so worrisome to everybody, you could clear that out and see. But don't be surprised if the US ever attempts to clear that number out, that it magically refills itself. Because that's what derivatives do. They're black magic debt holes.
 
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so....


way back when, 25 years or so ago, back before the BIG crash in '87, we bought Phillip Morris and Kraft Foods. They did well. They merged. We had plenty of MO then! Then they split and MO changed to Altria, and Philip Morris changed to PM and Kraft became KFT.

now Kraft is planning to split into two separate groups...


I'm not complaining - a 4% - 5.5% dividend yield cushions things a bit

and the worse things get, the more folks will be smoking and eating junk food :-)
 
Remember just a few days ago when it was necessary to pass the "compromise" legislation raising the debt ceiling? We were told that if we did not do so right away, our credit rating would be downgraded?

A lot of new congressmen forgot their pledges to hold the line on debt, believing that the impending evil of a downgraded credit required them to agree. They bargained though, and got some vague promises of spending reductions, to be decided by a "Super Committee" headed by the most profligate of all Presidents.

They sold out for a pig in a poke, and created a monster with supra-constitutional power.

Well, the credit rating was downgraded. . . . BECAUSE we did this.

https://www.larouchepac.com/warroom

The insiders knew in advance, and got out of our markets. The smart money was all parked on the "cash" bet before Standard&Poors downgraded our credit rating yesterday, with the stock market in a panic now for two days. Your 401(k)s took a one-day hit of a national $2.5 Trillion, with another market plunge to follow. And your taxes will go up to pay for Obama's pipe dreams.
 
babe said:
Remember just a few days ago when it was necessary to pass the "compromise" legislation raising the debt ceiling? We were told that if we did not do so right away, our credit rating would be downgraded?

A lot of new congressmen forgot their pledges to hold the line on debt, believing that the impending evil of a downgraded credit required them to agree. They bargained though, and got some vague promises of spending reductions, to be decided by a "Super Committee" headed by the most profligate of all Presidents.

They sold out for a pig in a poke, and created a monster with supra-constitutional power.

Well, the credit rating was downgraded. . . . BECAUSE we did this.

https://www.larouchepac.com/warroom

The insiders knew in advance, and got out of our markets. The smart money was all parked on the "cash" bet before Standard&Poors downgraded our credit rating yesterday, with the stock market in a panic now for two days. Your 401(k)s took a one-day hit of a national $2.5 Trillion, with another market plunge to follow. And your taxes will go up to pay for Obama's pipe dreams.
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Cool website.

"The means Obama used to ram through the "deficit bill", the Budget Control Act, is parallel to the process by which Hitler established his dictatorship. Is this the past repeating itself? No - today it is much worse."

I've come to believe that whoever brings up an unsolicited Nazi comparison really has no clue. I believe that more strongly than ever.
 
Did you guys know if our government reduced spending by 1% accross the board we would have a balanced budget in 7 years and be completely out of debt in 10 years. :)
 
GoJazz said:
Did you guys know if our government reduced spending by 1% accross the board we would have a balanced budget in 7 years and be completely out of debt in 10 years. :)
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I didn't know that. Probably because it's not true.
 
Sirkickyass said:
Dendreon is a client so I can't comment too much on this stock but I want to address one thing: There is no problem with Provenge, there is a problem with the present size of the market for Provenge relative to previous expectations. It's a sales issue, not a problem with the company's drug.

It also doesn't help that it's a drug that has a very different procedure than reimbursement rules contemplate and we're presently operating in a period of time where reimbursement rules are in flux, not the least of which is the result of the things happening in Washington.
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Provenge sounds like a professional group that you can hire to go hurt people who have hurt you. You take the "pro" from professional and the "venge" out of revenge.
 
GoJazz said:
It's good to know you know more then a US senator... Go drive your girly car off a bridge you are a hinderance to society.
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It's just common sense GJ...

the US debt is 14 trillion dollars. Total federal/state/local spending is 7 trillion dollars this year, and the revenue is about 5.1 trillion dollars. Even if you cut 25% of federal/state/local spending (1.75 trillion dollars), the National debt would still escalate at a rate of 150 billion dollars per year. So 1% to balance the budget is completely out of the question.

And Rand Paul is a moron...

Source: https://www.usdebtclock.org/
 
f
DutchJazzer said:
legalize Mary jane.
tax the **** out of mary jane.

and the problem is solved
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I was thinking about this last night? Why not legalize every recreational drug, and implement a substantial risk tax, based on implied inherent dangers for each drug. Why not legalize cocaine and tax it at 500%?
 
The-Joker said:
f

I was thinking about this last night? Why not legalize every recreational drug, and implement a substantial risk tax, based on implied inherent dangers for each drug. Why not legalize cocaine and tax it at 500%?
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If you legalized drugs, thousands of DEA agents would be out of work. You wouldn't need to use as many fighting the war on drugs. It would certainly help, but there are still negatives to that solution.
 
catratcho said:
If you legalized drugs, thousands of DEA agents would be out of work. You wouldn't need to use as many fighting the war on drugs. It would certainly help, but there are still negatives to that solution.
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But just THINK OF THE SAVINGS OMG. THAT'S THE ONLY SOLUTION.

"Compromise" accomplished.
 
catratcho said:
If you legalized drugs, thousands of DEA agents would be out of work. You wouldn't need to use as many fighting the war on drugs. It would certainly help, but there are still negatives to that solution.
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They could make it were you have to buy a license to grow marijuana, then make someone buy an additional license to distribute and sell marijuana. The need for DEA agents would be still be necessary to enforce the legality of Marijuana operations.
 
babe said:
Remember just a few days ago when it was necessary to pass the "compromise" legislation raising the debt ceiling? We were told that if we did not do so right away, our credit rating would be downgraded?

A lot of new congressmen forgot their pledges to hold the line on debt, believing that the impending evil of a downgraded credit required them to agree. They bargained though, and got some vague promises of spending reductions, to be decided by a "Super Committee" headed by the most profligate of all Presidents.

They sold out for a pig in a poke, and created a monster with supra-constitutional power.

Well, the credit rating was downgraded. . . . BECAUSE we did this...
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Those whose news sources are a bit more fair and balanced (LOL) knew all along that even if the debt ceiling was lifted, the agreement as crafted was not enough to protect our AAA credit rating. Most rating agencies have said all along that unless the cuts were at least $4 trillion and there were some revenue increases included, we were still at great risk for a credit downgrade.


And everyone needs to keep in mind that budgets are based on EXPECTATIONS and if revenues fall short of what's expected, or expenses are greater than expected, even a balanced budget ends up in a deficit.
 
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