No flipping clue

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Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
No flipping clue

No flipping clue as to what to do.

Confronted with big job losses and no sign the U.S. economy is ready to stand on its own, Democrats are working on a growing list of relief efforts, leaving for later how to pay for them, or whether even to bother.

Proposals include extending and perhaps expanding a popular tax credit for first-time home buyers, and creating a new credit for companies that add jobs. Taken together, the proposals look a lot like another economic stimulus package, though congressional leaders don't want to call it that.

Democratic leaders in Congress and the White House say they have no appetite for another big spending package that adds to the federal budget deficit, which hit a record $1.4 trillion for the budget year that ended last week.

But with unemployment reaching nearly 10 percent, many lawmakers are feeling pressure to act. Some of the proposals come from the Republicans' playbook and focus on tax cuts, even though they, too, would swell the deficit.

"We have to do something for the unemployed, politically and economically," said Rep. Charles Rangel, D-N.Y., chairman of the tax-writing Ways and Means Committee.

JAG's picture
JAG
Status: Diamond Member (Offline)
Joined: Oct 26 2008
Posts: 2492
Re: No flipping clue

Hi Davos,

This freaking government needs a reboot. Ron Paul's book really helped confirm our collective observations for me.

Frustration x1000!!!

(P.S. The DD is not the same without you, not even close. I'm afraid I don't even read it anymore, just the comments. Its very apparent to me now that I took your work for granted and I miss it.)

xraymike79's picture
xraymike79
Status: Diamond Member (Offline)
Joined: Aug 24 2008
Posts: 2040
Re: No flipping clue

Our elite have pretty much painted us into a corner. Only a complete overhaul of our societal priorities and government structure will prevent our decline. Of course this requires the dishevel of the status quo which will not let go until its dead hands are pried loose. In a bygone era, the banking oligarchy would have been hung at the gallows for what they did, but we are living under the rule of a fascist state. Our country is an open-air prison.

"...I think the finale of the de-potentiation of public speech will be an interlude of rule by naked force...."

------Charles Eisenstein

We've devolved into a financialized and militarized economy which has drained the real economy. The financial sector makes up 15% of the economy, but takes 40% of the profits (for the production of what useful products/services???).  Since WWII the U.S. government has spent half of all tax dollars on past, current, and future military operations --- a "permanent war economy." There has been epic misallocation of resources by these two sectors which have melded with the government. We're holding this empire together with duct tape and chickenwire as well as the complicit consent of foreign creditor nations. 

While enriching themselves, the elites of the corporatocracy have sacrificed the well-being of the middle class by destroying the productive economy of this country.

 

rowmat's picture
rowmat
Status: Gold Member (Offline)
Joined: Nov 15 2008
Posts: 358
Re: No flipping clue
xraymike79 wrote:

".... We've devolved into a financialized and militarized economy..."

And the next thing you know they'll give Obama the Nobel prize... Wink

machinehead's picture
machinehead
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Re: No flipping clue
rowmat wrote:
xraymike79 wrote:

".... We've devolved into a financialized and militarized economy..."

And the next thing you know they'll give Obama the Nobel prize... Wink

'I believe it because it is absurd.' -- Tertullian [in garbled, abstracted translation]

Dadaism, comrades -- it started out as an arch joke. But at some point, the line between prank and reality became so hopelessly blurred that the pitiless landslide of entropy took over. And now we can't get out from under the rockpile that buried our feckless dreams.

As Pink Floyd used to say ... 'Run like hell.'  If ye still can ... Cry

r's picture
r
Status: Gold Member (Offline)
Joined: Oct 2 2008
Posts: 262
Re: No flipping clue
machinehead wrote:

Dadaism, comrades -- it started out as an arch joke.

Really, Dadaism?? I find any sort of co-opting of Dadaism by a predominately Libertarian site (correct me if I'm wrong) to be incongruous.  Have you actually read anything those artists wrote way back when?  This is actually why I threw swine before pearls elsewhere...

SagerXX's picture
SagerXX
Status: Diamond Member (Offline)
Joined: Feb 11 2009
Posts: 2219
Re: No flipping clue
r wrote:
machinehead wrote:

Dadaism, comrades -- it started out as an arch joke.

Really, Dadaism?? I find any sort of co-opting of Dadaism by a predominately Libertarian site (correct me if I'm wrong) to be incongruous.  Have you actually read anything those artists wrote way back when?  This is actually why I threw swine before pearls elsewhere...

Hm.  When there's a picture of Duchamp's "Fountain" on the front page of CM.com then we can start wondering if the site has been co-opted by Dadaism.  'Till then, I think we're safely in the In-De-Stag-Re-Un-Retro-Dingdong-flation camp.  And proud of it.

Viva -- Sager

r's picture
r
Status: Gold Member (Offline)
Joined: Oct 2 2008
Posts: 262
Re: No flipping clue
SagerXX wrote:

Till then, I think we're safely in the In-De-Stag-Re-Un-Retro-Dingdong-flation camp.  And proud of it.

I'm sorry you are right;  you can reference Dada, prefer Vermeer, vomit on your keyboard, and explain how we're going to continue to deflate until we inflate and how it's all a conspiracy it's  really none of my business.

idoctor's picture
idoctor
Status: Diamond Member (Offline)
Joined: Oct 4 2008
Posts: 1731
Re: No flipping clue

I tell you I have no flipping clue how this market can do the things it does LOL. This just blew me away today looking at Pier 1 Imports chart.. It was all of 10 cents in March 2009...yes that is right 0.10 but today it hit $5.25. That is over a 52 times return. How can that be? This article? http://www.cnbc.com/id/33282766 

Are that many people buying wicker baskets LOL. People losing jobs & houses but have to have a brand spankin new Pier 1 wicker basket to carry their belongings to tent  city LOL. Is Pier 1 Imports 52 times better off in just 7 short months. I do not know how this can be. Generally signs like this too me mean something just isn't right......

I know why I can only hear the sound of my one hand clapping.......I just got tired of the other arm getting in my way so I just ripped it off & threw it away....makes perfect sense in this market LOL.

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