Originally Posted By Mr X Given the buzz about Republicans taking many seats (maybe even taking over!), I'd certainly have to agree with you Passholder. I'm actually NOT all that pleased with Obama thus far (handling of the wars, , Guantanamo, not twisting arms and taking off heads on healthcare, DADT etc...), but economically speaking he's freakin Superman flown in to save us all. Are we "okay"? Hardly. Are macroeconomic issues amazingly better compared to just a year ago? Definitely. That notion makes right wingers nauseous though, so of course they try to deny it.
Originally Posted By Kar2oonMan I saw a great political cartoon yesterday. It shows Obama cheering for team USA in the Olympics. Behind him is a group of elephants in suits, holding up signs that say "Hooray for Peru!" and "Let's Go Greece!" and such. One elephant is saying to the others "Do we really have to oppose him on absolutely EVERYthing?"
Originally Posted By andyll The FY 2009 deficit was 1.4 trillion dollars. That was bush's final budget although it had about 200 Billion in Obama stimulas in it. The projected 2010 deficit is 1.6 however that is projected with little GDP growth and no TARP replayments. Obama would do well to apply most of the TARP replayments to the deficit to get it under 1 Trillion. Here is a great chart from the OBM: <a href="http://www.whitehouse.gov/omb/budget/fy2011/assets/hist01z3.xls" target="_blank">http://www.whitehouse.gov/omb/...01z3.xls</a> Clinton's final budget was FT 2001. ( new presidents take office halfway into a FY )
Originally Posted By fkurucz One thing to keep in mind about the current budget deficit is that there is no "off the books" Social Security surplus to borrow this year. In other words, the previous deficits were worse than they appeared.
Originally Posted By DAR I'm sure everyone has seen Pulp Fiction, but I'm thinking of the scene where Vincent and Jules are riding with Marvin in the car. Vincent accidentally shoots Marvin in the face causing blood and brains to spray all over the car. They go to Jules' partner Jimmy up in Toluca Lake. Jimmy tells them its going to be a problem having a dead body in his garage because his wife Bonnie is coming home. They call on Winston Wolf aka the Wolf to help with the clean up. They clean out Jules' car. And Vincent remarks he can't believe this is the same car. The Wolf replies with "let's not start blanking each others blanks quite yet." That kind of applies to this stimulus. Yes it's been a success but I wouldn't exactly say a huge success and we still have to clean off Vincent and Jules and take the car to Monster Joes.
Originally Posted By barboy ///And Vincent remarks he can't believe this is the same car. The Wolf replies with "let's not start blanking each others blanks quite yet."/// LOL,LOL OMG, that was an absolutely beautiful analogy. Yep, we're are still far, far, FAR away from successfully dumping poor "Marvin". And Marvin's corpse is smelling worse every minute.
Originally Posted By Mr X While I enjoyed the read, wouldn't it have been much simpler to just write "as Winston Wolf would say, let's not start blanking each others blanks just yet"? ??
Originally Posted By snappyfun Big rise in jobless claims today, number much worse the respected. Inflation seems to be on the rise and the fed hiked the rate today, things are getting worse not better. Buy gold and pray!
Originally Posted By Mr X Kindly explain what you mean by "the Fed hiked the rate". What rate? And where do you get your "inflation seems to be on the rise" claim? Got a source for that? And if it really hits the fan, what do you think you're going to do with all your gold, eat it? But by all means, go out and buy some gold. At the current spot rate of around $1,115 per ounce, it's a real bargain! Bwahahahahaha.
Originally Posted By Sport Goofy << Got a source for that? >> Doesn't Glenn Beck endorse for Goldline.com?
Originally Posted By SingleParkPassholder "Big rise in jobless claims today, number much worse the respected. Inflation seems to be on the rise and the fed hiked the rate today, things are getting worse not better. Buy gold and pray!" <a href="http://money.cnn.com/2010/02/18/news/economy/discount.rate.fortune/index.htm?hpt=T2" target="_blank">http://money.cnn.com/2010/02/1...m?hpt=T2</a> From the link: "The Federal Reserve raised the rate it charges banks that borrow from the central bank when they run short of funds. The Fed said late Thursday it is raising its discount rate by a quarter percentage point, or 25 basis points, to 0.75%. The central bank said in a statement it made the move in response to improving financial market conditions. The move is largely symbolic, because banks do little borrowing at the discount window. The unanimous decision to boost the discount rate also has no effect on the more widely watched federal funds rate, which measures the rate banks charge each other for overnight loans. That rate is expected to remain between 0% and 0.25% for the foreseeable future, given the slack in the labor market and the still fragile state of the economy. But raising the discount rate allows Federal Reserve chairman Ben Bernanke to take another small step toward normal monetary policy, after the past two-plus years were consumed in a financial firefight. "The modifications are not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy or for monetary policy," the Fed said in a statement." So no big deal. The rate hike is actually good news.
Originally Posted By SingleParkPassholder "Doesn't Glenn Beck endorse for Goldline.com?" Why yes, he does, and he's not particularly ethical about it, either. <a href="http://mediamatters.org/research/200912020029" target="_blank">http://mediamatters.org/resear...12020029</a>
Originally Posted By hopemax The Fed raised the "discount rate" .25% pts to .75%. The "discount rate" is for emergency loans to banks. It is not the "federal funds interbank lending rate," which is the one that is usually meant when there is talk about the Fed's interest rate. That one is still at it's 0-.25% rate.
Originally Posted By Mr X ***It is not the "federal funds interbank lending rate," which is the one that is usually meant when there is talk about the Fed's interest rate.*** Exactly the reason I asked the question. Claiming "the Fed raised the rate" would lead unsuspecting readers to believe it's one thing (a pretty big deal) when in reality it's something entirely different (and not a big thing in the grand scheme at all). Besides, if the Fed actually DID raise "the rate" that would mean they're quite confident they won't trigger a massive crash...which would indicate that the markets are stronger than many believe.
Originally Posted By Mr X Beck...what a shameless whore that guy is! "So I'm enough of a guy who doesn't trust the crazy people in Washington enough to say..." "The people that I trust are the people at Goldline" Yeah, don't trust that danged gubmint, trust the good people at Goldline! They've got your back!
Originally Posted By Mr X ***"Big rise in jobless claims today, number much worse the respected. Inflation seems to be on the rise and the fed hiked the rate today, things are getting worse not better. Buy gold and pray!"*** Interestingly, all three of these talking points are addressed in just ONE article which was featured prominently today on, the Drudge Report. Most interesting.
Originally Posted By snappyfun Dont watch, like, or trust Gleen Beck but alot of you people on here really seem to watch him allot, what do you like about him so much? Also is He only person pushing gold, seems like you guys think only this guy thinks gold is a good hedge against inflation.
Originally Posted By snappyfun so a person here has to like Gleen Beck or there this thing called a troll? Sorry that i dont watch, you like him mr x and thats your right but i dont like him sorry it offends you but we all cannot like the same people
