114
   

Where is the US economy headed?

Forums: Economy, Finance, Politics, Job Losses, Credit Crunch
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cicerone imposter
 
  0  
Reply Thu 14 Jul, 2011 09:46 am
@Cycloptichorn,
The GOP started with "no increase on the debt ceiling" which doesn't leave them any room for negotiation. Last year, they promised cuts in social security and Medicare, but when Obama put those on the table, the GOP said "NO."

I hope they stick with their idiocy; their ability to survive as a party is going to be an interesting issue in the coming elections. Especially after they destroy more of the people's retirement, investment, savings, and our government ends up paying more interest on the debt - which will be the last straw that breaks the camel's back.

They know not what they are doing; I'm looking forward to seeing them self-destruct.
spendius
 
  2  
Reply Thu 14 Jul, 2011 09:57 am
@cicerone imposter,
What an inordinately silly and childish thing to say. Bloody Nero revisited.

It's the runaway hubris before 1988 that has caused the problem. Ladymedia to be precise. If we are not careful this Media will ruin us all.
0 Replies
 
H2O MAN
 
  -3  
Reply Thu 14 Jul, 2011 09:57 am
Obamnomics... remember Obama's racists tax on tanning beds?

Quote:
The legislation has the support of the Indoor Tanning Association (ITA) as well as the National Taxpayers Union (NTU) and American for Tax Reform.

“This tax has been a serious hardship on our industry,” said Dan Humiston, president of the tanning association.

He estimated it could hit as many as 18,000 tanning businesses across the country, and said 3,100 businesses have closed since the tax was put into place last July. Humiston said that led to 24,000 job losses.

Humiston also said many member-companies are being audited because of the new tax, which has created another hardship.

“In reality, this tax takes money out of the pockets of some of those least able to afford it — working women, who are not only customers but also make up a majority of our business owners, and college students, who are both customers and employees,” Humiston said.


This country can't put up with this hack (Obama) being elected to another term.
0 Replies
 
H2O MAN
 
  -3  
Reply Thu 14 Jul, 2011 09:59 am
@Foofie,
No one except Obama.
reasoning logic
 
  0  
Reply Thu 14 Jul, 2011 03:53 pm
@H2O MAN,
Would it be OK if I called you HH because you remind me of the origin of H2o!
realjohnboy
 
  1  
Reply Thu 14 Jul, 2011 04:52 pm
@reasoning logic,
The NYTimes reports that the Minnesota government shutdown has been resolved.
The cessation of liquor sales probably was the impetus.
hawkeye10
 
  2  
Reply Thu 14 Jul, 2011 04:56 pm
@realjohnboy,
and they solved it by gimmick...an ominous sign....
0 Replies
 
cicerone imposter
 
  -1  
Reply Thu 14 Jul, 2011 05:57 pm
@realjohnboy,
MINN also lost revenue during the shut-down which cannot be recouped, and will make it more difficult to resolve their budget problems.
0 Replies
 
reasoning logic
 
  -1  
Reply Thu 14 Jul, 2011 05:58 pm
@realjohnboy,
This is a 1 minute video!

0 Replies
 
realjohnboy
 
  1  
Reply Sat 16 Jul, 2011 12:23 pm
@realjohnboy,
realjohnboy wrote:

Year.....Quarter 1....Quarter 2....Quarter 3....Quarter 4....Annual
2008....207.715....212.903....215.495....208.097....211.053
2009....206.542....209.224....211.001....211.752....209.630
2010....212.879....213.974.... 214.136....214.878....213.967
2011....217.986....222.406

The June CPI number came out yesterday, ending the monthly totals for the 2nd Q. The CPI for the 3rd Q will determine the COLA for social security payments. The numbers to compare will be the 3rd Q CPI vs the same period in 2008. After the 1st Q, I predicted a 4% increase. We are on target for a number closer to 4.5%.
realjohnboy
 
  1  
Reply Sat 16 Jul, 2011 12:27 pm
@realjohnboy,
Roger noted that Medicare premiums will also rise, offsetting to some extent the SSAE COLA.
In June, the CPI-W index actually remained largely unchanged from May. I assume that was due to the effects of the brief drop in oil prices.
0 Replies
 
cicerone imposter
 
  0  
Reply Sat 16 Jul, 2011 12:27 pm
@realjohnboy,
rjb, If the 3d quarter CPI determines social security increases, why is it that we received no increase for several years?

Can you provide is with how you calculated the 4% increase for 2012?
realjohnboy
 
  1  
Reply Sat 16 Jul, 2011 12:36 pm
@cicerone imposter,
The CPI-W index for the 3rd Q of 2008 was about 215.50 but then dropped below that in 2009 and 2010. There was, for those 2 years, no inflation and therefore no increase in SS benefits. In the 1st Q, 2011, we came in at 218.00 and ended at 222.41 for the 2nd Q. I see it ending at 225.50 for the 3rd Q.
225.50 - 215.50 (the previous high) = 10.00 divided by 215.50 =
4.6% for 2012.
cicerone imposter
 
  0  
Reply Sat 16 Jul, 2011 12:58 pm
@realjohnboy,
rjb, Thx. T.
0 Replies
 
H2O MAN
 
  -1  
Reply Sat 16 Jul, 2011 02:14 pm


The beginning of Obama's depression is just around the corner...
okie
 
  0  
Reply Sat 16 Jul, 2011 04:03 pm
@H2O MAN,
H2O MAN wrote:


The beginning of Obama's depression is just around the corner...
Do you ever listen to the Dave Ramsey radio show, where he counsels people that call in about their financial woes? I happened to tune in one day this past week, and noticed most of the callers were in deep trouble with their home loans, like owing alot more than their houses are worth, and credit card debt out the wazoo. I don't know what the percentage of people might be that are on the edge of losing their homes now, but I don't think the situation is rosy.
H2O MAN
 
  1  
Reply Sat 16 Jul, 2011 04:07 pm
@okie,
okie wrote:

H2O MAN wrote:


The beginning of Obama's depression is just around the corner...
Do you ever listen to the Dave Ramsey radio show, where he counsels people that call in about their financial woes? I happened to tune in one day this past week, and noticed most of the callers were in deep trouble with their home loans, like owing alot more than their houses are worth, and credit card debt out the wazoo. I don't know what the percentage of people might be that are on the edge of losing their homes now, but I don't think the situation is rosy.


Sadly, I think the 2nd housing bust will be worse than the 1st.
reasoning logic
 
  1  
Reply Sat 16 Jul, 2011 04:14 pm
@H2O MAN,
Wow I never thought that I would hear you say something that came form you and not from someone else!

Do not get me wrong because I do realize that all of what we know comes from others for the most part but it just seems that you are not parroting this time.
I do realize that I can be wrong about you!

Are you sure that the 1st bubble has finished bursting?

Could this bubble be so huge that it will take a while to completely deflate?

0 Replies
 
okie
 
  1  
Reply Sat 16 Jul, 2011 04:18 pm
@H2O MAN,
Also, what many people do not relaize is the seriousness of the ripple effect. A couple of examples. I have a relative, quite elderly, that planned on selling her paid off home one of these years and move into a duplex or townhouse, or perhaps assisted living situation of some kind, and perhaps take the proceeds to help her live in her last few years, but a bad housing market is dampening her hopes. I also know a few contractors that made a living by building houses or buying them and improving / remodeling them, then flipping them after living in them for a couple of years, but the market has essentially stopped them from being able to do that. The ripple effect obviously manifests itself in many more ways than that. but those are two that came to mind.
reasoning logic
 
  1  
Reply Sat 16 Jul, 2011 04:22 pm
@okie,
very good Okie keep it coming!
0 Replies
 
 

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