Where is the US economy headed?

Gotta stand in awe of H2Oboy for his sheer imperviousness to facts. Every time an economic indicator goes up, somehow he's able to convince himself it's really the death of the American economy. Someone who actually, not metaphorically, doesn't know which end is up.

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MJboy just keeps drinking the Obama Kool-Aid, this makes him totally
oblivious to the real world around him... ignorance is bliss for MJboy.

Watch, listen and learn Part #1

Part #2

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H2O gets his "facts" from Faux News. Figures.

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@MontereyJack,

MJboy ignores all facts. Typical left wing loon.

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@MontereyJack,

H2O doesn't know the meaning of the word "facts." He only deals in stupid one-liners. He is a person who should be ignored.

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Quote:

Whenever the economic life of a nation becomes precarious, the central government is forced to assume additional responsibilities for the general welfare.

Aldous Huxley. Brave New World Revisited.

From which I assume that the election of Mr Obama was due to a sense of the increasing precariousness of the US economy.

Opponents of Mr Obama would be better addressing the cause rather than the remedy. Otherwise Republicans will have to deal with the same problem in the same way and become more and more interventionist whilst staying, or appearing to, fractionally to the right of Mr Obama.

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@spendius,

Which is not to say that the sense of precariousness has not been engineered for the purpose of driving the political process leftwards as one would expect any centralised capital city given over to "managing" to do.

Mrs Palin comes over as beyond the reach of management.

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@Advocate,

I have waterboy on Ignore, but respond once in awhile to challenge his nonsense. I know I'm feeding the troll, but some times his posts are so stupid, a response is warranted. His brain is of a teenager who has nothing to contribute except diatribe.

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@Advocate,

Advo and impostergirl are drunk on Obama's Jesus juice... they should be ignored.

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In 1980 before we started to juice the economy under Reagan the average pay of a major CEO was 42 times the average US worker pay. Last year in was 343 times. This is a nice summation of the failure of capitalism to promote the democratic ideal of fairness.

http://money.cnn.com/2011/04/19/news/economy/ceo_pay/index.htm?hpt=T2

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@H2O MAN,

Are you anti Jesus?

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@MontereyJack,

MontereyJack wrote:

Gotta stand in awe of H2Oboy for his sheer imperviousness to facts. Every time an economic indicator goes up, somehow he's able to convince himself it's really the death of the American economy.

All tjhe while, you ignore our credit rating going into the tank, MJ. Are you able to convince yourself that is great for the economy?

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@okie,

okie wrote:

MontereyJack wrote:

Gotta stand in awe of H2Oboy for his sheer imperviousness to facts. Every time an economic indicator goes up, somehow he's able to convince himself it's really the death of the American economy.
All tjhe while, you ignore our credit rating going into the tank, MJ. Are you able to convince yourself that is great for the economy?

Let me ask you, oh economic genius: why do you think S&P put that warning out yesterday? Explain in detail.

2nd question: do you know what the last time they issued a similar warning, re: gov't bond rating downgrades?

Cycloptichorn

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@Cycloptichorn,

I think they put the warning out to get on TV. They really do like being on TV you know. And being talked about on prestigious news programmes and economic forums like wot this is.

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@spendius,

You well may be not too far off, Spendius. I was preparing to write a little piece on the S&P thing, but I will defer to Okie's response to Cyclo's question.

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http://www.kaiserhealthnews.org/Cartoons/2011/April/~/media/Images/KHN%20Features/2011/April/18%2022/williamtell512.jpg?w=512&h=372&as=1

Cycloptichorn

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@realjohnboy,

I'm also curious about this topic on the S&P rating of government debt.

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@spendius,

Quote:

Which is not to say that the sense of precariousness has not been engineered for the purpose of driving the political process leftwards

I regret that I had to use the laughter emoticon because there wasn't an emoticon with dark glasses and a white cane.

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@Cycloptichorn,

I don't know how okie will answer, but my take on it is that they attempting to influence the political landscape.

The warning is based as much on S&P's belief that there is little to no chance that the debt crisis will be addressed before the next presidential election.

The question is whose position are they supporting, the Republicans' or the Democrats'?

My sense is that it is the Democrats' position that the debt ceiling needs to be raised irrespective of whether or not a deal can be cut on spending and taxes.

Both parties though can and will use the warning to their own advantage.

Guess work at best though.

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@Finn dAbuzz,

Finn dAbuzz wrote:

I don't know how okie will answer, but my take on it is that they attempting to influence the political landscape.

The warning is based as much on S&P's belief that there is little to no chance that the debt crisis will be addressed before the next presidential election.

The question is whose position are they supporting, the Republicans' or the Democrats'?

My sense is that it is the Democrats' position that the debt ceiling needs to be raised irrespective of whether or not a deal can be cut on spending and taxes.

It's not only the Dem's position - it's the correct position to take. In fact, I wish Obama would take exactly this hard line - that the limit can and WILL be raised, with no deal on spending at all - because this isn't a spending issue. He probably won't, because he's positioning himself in the middle for the upcoming election. But he ought to do so.

The Republicans won't have any choice but to go along with it, as you know. Obama can always point out that the current Republican leadership raised this limit under Bush over a dozen times. They'll have no response to that other than a bunch of muttering.

Quote:

Both parties though can and will use the warning to their own advantage.

Guess work at best though.

Any guess on the second question - the last time this warning was put out? The answer is instructive as to why it was put out this time.

A clue: it has nothing to do with the deficit or debt at all.

Cycloptichorn

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Where is the US economy headed?

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