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Budget talks: This is getting nasty

Discussion in 'Sports and News' started by printdust, Jul 13, 2011.

  1. CarltonBanks

    CarltonBanks New Member

    Fixed
     
  2. deskslave

    deskslave Active Member

    How is the country going to create advancements in medicine, energy production, etc., given the absolutely appalling state of science education? How is it going to lead the world there when its leaders actually think it's acceptable to teach intelligent design as a legitimate scientific theory in science classes? And how is it going to improve the state of education by spending less and less and less and less on it? Because God forbid that any of those blessed "job creators" actually be required to pay any damn taxes?

    Seriously, the rest of the world laughs at you for crap like that.
     
  3. Tarheel316

    Tarheel316 Well-Known Member

    Deskslave, the "job creators" aren't supposed to pay any taxes according to the GOP.
     
  4. Starman

    Starman Well-Known Member

    Just put your faith in Jeebus.
     
  5. Baron Scicluna

    Baron Scicluna Well-Known Member

    A simple one: Limit the amount of times a specific song can be played on a radio station in one day. Let's say, three times. And allow, let's say, five songs total by a musician.

    Right now, there are songs being played in rotation on a station 100 times a week. That's 14-plus times a day, thanks to corporate radio.

    Limit the number of songs, and musicians, and there will be a larger variety for the listeners.

    I know, I know, it's "Government controlling what people can hear on the radio!" Well, right now, we have "Corporate controlling what people can hear on the radio!" And they've proven, without a shadow of doubt, that they don't give a shit about the public.
     
  6. Ben_Hecht

    Ben_Hecht Active Member

    Of course, the GOP hates spending money for education . . . since all other things being equal, the more educated you are, the more likely you'll vote for the near-term of disposal of the likes of Eric Cantor and Scott Walker into the nearest landfills.
     
  7. Football_Bat

    Football_Bat Well-Known Member

    Wall Street opens in 2 minutes. Let the bloodbath begin.
     
  8. MileHigh

    MileHigh Moderator Staff Member

    Less than a minute in, down 200. NASDAQ off 90.
     
  9. The Big Ragu

    The Big Ragu Moderator Staff Member

    This is bewildering. S&P has been doing its conference call this morning. Morons.

    They tried to explain why France deserves its AAA (even said it deserves it MORE now than it did a year ago), while the U.S. doesn't. Something about them raising their retirement pension age. No mention of the fact that French banks are the most exposed in the world to the toxic debt of a half a dozen countries on the brink of default

    Which is why this is the most insane thing I have ever heard. I am not saying the U.S. is all peachy keen. But we are in GREAT shape compared to the Eurozone, which is being held together by scotch tape. There are some serious defaults on the horizon, and the European Central Bank announced it is going to buy sovereign debt to try to bolster the failing lending markets in places like Spain and Italy, where everyone is expecting eventual defaults right now, so yields were going up.

    This is actually beyond insane. Europe is going to collapse -- I can't say when, but they are running around like Keystone Kops right now to try to put off what is looking more and more inevitable. The European Central Bank is embarking on inflationary policy in a move that will amount to spitting into the wind. And at some point -- maybe if Italy defaults -- there will be contagion effect that will look like 2008 all over again. This is global.

    But the problem isn't the U.S. We can meet our debt obligations. The Eurozone is falling apart and has almost half a dozen countries that either can't meet their debt obligations or are on the brink of not being able to. We are facing some serious tail risk, so I am not saying the U.S. should be trading independently. But the U.S. is not the problem. And S&P is out of its mind. It is flexing its muscle for being made a punching bag by U.S. politicians in 2008, and it is making itself look even more foolish yet.
     
  10. Football_Bat

    Football_Bat Well-Known Member

    Dow dropped 2 percent out of the chute, but bounced back a bit and is hovering steady in the -200 range. I think a lot of this has been factored-in already, and a lot of Wall Street people also think S&P is full of shit.
     
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    Equities aren't what is telling about it. That rating downgrade should effect yields on U.S. treasuries. And it it isn't having much effect.

    I just posted on the gold thread that the amusing thing is how much noise this is, and how the U.S. bond markets are not reacting much to the S&P rating. It's a bunch of noise. As Jack Bogle just said, "A year ago, S&P was the gang that couldn't shoot straight." Yet, now their downgrade is supposed to mean something? And Moody's hasn't said a thing, which is telling. Our bond markets are mostly ignoring S&P. Good.

    Other great thing about this. Those social networking stocks that were trading on hype, and not earnings, are getting slaughtered. LinkedIn is down 10 percent. In a way, even though this is an overreaction, in certain areas, it is making people come to their senses.
     
  12. YankeeFan

    YankeeFan Well-Known Member

    Agree that S&P really seems to have opened up a can of worms with thus ruling.
     
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