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Budget talks: This is getting nasty

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

Page 186 of 214
  1. Inky_Wretch

    Inky_Wretch Well-Known Member

    How in blue hell does the tea party get credit for this rally?
     
    Inky_Wretch, Aug 9, 2011
    #2221
  2. Bob Cook

    Bob Cook Active Member

    Of course, I step away for a moment and the Dow is suddenly up 430.
     
    Bob Cook, Aug 9, 2011
    #2222
  3. doctorquant

    doctorquant Well-Known Member

    If not for the Tea Party, you wouldn't have had that Congressman suggesting that impeachment proceedings should be pursued to stop the President in the implementation of his agenda. As the market is clearly reacting to that, the Tea Party gets the credit. Pure and simple.

    Note to everyone: I'M KIDDING!
     
    doctorquant, Aug 9, 2011
    #2223
  4. Azrael

    Azrael Well-Known Member

    What's at once hysterical and heartbreaking in this thread is that the most devoted true believers, the most ardent Reaganauts, are the ones being most completely suckered in service of America's billionaire aristocracy.

    The extraction of wealth from the American middle class over the last 30 years exceeds anything ever dreamed of in our history.
     
    Azrael, Aug 9, 2011
    #2224
  5. suburbia

    suburbia Active Member

    They either believe that this is actually the road to growing the middle class or that they're fulfilling God's will by sacrificing themselves in the name of "the system."
     
    suburbia, Aug 9, 2011
    #2225
  6. Boom_70

    Boom_70 Well-Known Member

    Az I truly admire your ability to stay above it all and not fall prey to the trappings of The America that we now live in. How do you do it?

    You must be self employed. No way do I see you working in corporate America for "the man".
     
    Boom_70, Aug 9, 2011
    #2226
  7. The Big Ragu

    The Big Ragu Moderator Staff Member

    Well, you can look at it this way. The Fed got QE3 without having to buy a single bond. They announced that they are going to keep rates low until mid 2013. They have no tricks left and basically showed their hand for TWO years. At the same time, I believe there were three dissenting votes, so even his own people are losing faith in the Bernanke.

    But. ... Bond yields immediately dropped. Money flowed into stocks. He got what he wanted.

    It's the same playbook. They are creating inflation, to try to inflate assets, including stocks. They have been doing this for three years. All we have gotten out of it is an inflated Fed balance sheet, a boatload of government debt enabled by the Fed monetizing their debt, and an economy that is still in the crapper. Do you really have confidence that their stupid reindeer games are going to have a lasting effect?

    What they did was perpetuate the same bad policy for short-term gain, but that will lead to long-term peril, that I have been railing about on the gold thread. Stocks might rally now. I wouldn't touch them. Central banking doesn't make an economy go. Economic activity does.

    One other thing to keep in mind. We saw the Dow move 850 Dow points in two hours. What happened is that the machines kicked in in the last hour of trading. Will that be lasting? Maybe. What the Fed did should be bullish for stocks. But any gains in equities now are built on a house of cards. Stocks will be going up on the expectation of our Central Bank essentially running a printing press 24/7 to create inflation.

    Great policy.
     
    The Big Ragu, Aug 9, 2011
    #2227
  8. YankeeFan

    YankeeFan Well-Known Member

    And, what percentage of Democrats are racists?

    Remember all of those "white working class" voters who wouldn't vote for him in the primaries?
     
    YankeeFan, Aug 9, 2011
    #2228
  9. YankeeFan

    YankeeFan Well-Known Member

    We've seen the utopias the left builds when they get full control of a nation.

    Shall we work to grow the state? Is that the ultimate goal?
     
    YankeeFan, Aug 9, 2011
    #2229
  10. Boom_70

    Boom_70 Well-Known Member

    The Fed keeps putting the paddles on the economy and it continues to flat line.

    I do think it's a good move by the Fed though. Otherwise interest rates would sky rocket and it would be the final nail.
     
    Boom_70, Aug 9, 2011
    #2230
  11. Boom_70

    Boom_70 Well-Known Member

    In my next life I want to be a poet or pottery maker in az's utopia.
     
    Boom_70, Aug 9, 2011
    #2231
  12. Azrael

    Azrael Well-Known Member

    Utopia?

    How about, Democrat or Republican, we just stop robbing from the blue-collar middle class?
     
    Azrael, Aug 9, 2011
    #2232
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