Posted on 08/30/2007 7:32:44 AM PDT by kristinn
Harry Reid is deeply addened.
All ya'll are right. BTTT
Being composed I would guess of mostly anti-free market libs, one of the unshakable principles of AP libs, as like all libs, libs is that tax cuts don't work. I have a lib daughter-in-law who firmly believes that and refuses to believe that tax cuts could in any way affect the economy. Of course the proof is in about tax cuts: THEY DO WORK!!! But libs are putting their hands over their ears and sputtering gibberish to avoid hearing the "bad" news.
Wow good thinking, I like your plan! You know I read a great deal about the economy and you are the first to point out why not more tax cuts to get more money into the economy.
Bush’s fault?! Nawww....couldn’t be.
The big issues hanging out there as far as organic growth are these:
1. The finance sector. This is now the #1 worry, because it is difficult to quantify. Estimates for year-ahead earnings in the finance sector are coming down all over the place, as the fallout from the debt market turmoil is going to cause some real losses for some of the big investment banks.
This shouldn’t have a huge effect on the consumer, who drives the majority of GDP. It might impact the consumer in terms of less leverage and liquidity going forward, but it shouldn’t result in huge job losses across the economy, or create a huge impact to consumer spending on essentials. On big-ticket discretionary items (eg, autos), those sales might well be impacted by a increase on home equity financing qualification requirements going forward.
NB: “might.” There’s nothing certain here at this time, other than people with bad credit will quit being pitched loans that they shouldn’t have in the first place.
2. What is the knock-on effect on the consumer from the housing downturn. Falling real estate valuations might cause consumer spending to decrease because home equity loan-to-value ratios, even if maintained at high levels, will result in less money being loaned to consumers.
The industrial/materials/ag sectors are being driven by issued other than the US consumer. Energy is being driven by global demand and it would take a whackin’ large worldwide recession to drop energy prices world-wide. Since many of our products in these industries have excellent export markets creating increased demand, the wild card here are places like China, not the US.
The bears have had their claws out on US growth for the last two years, and they’ve been right on the housing sector, but not on the whole of the economy. They certainly haven’t been correct on corporate profits, which have been just blowing the roof off on many US companies for three+ years now.
Worst. Economy. Ever.
LOL
As old King Solomon once said:"With all thy getting, get understanding!"
Although the national economy has interest for me, I’m at present more concerned about Michigan’s joke of an economy. We’re in a major recession, posting negative growth quarter after quarter.
Unemployment has zipped up to 7.9%. (I’m sure the networks are reporting this.)
Our communist governor is calling for another 9¢ per gallon tax to lift us out of our depression. The RINOs who are under recall attack for okaying the tax are told to hang tough - they did the “right” thing.
The local newspaper rags are cheering that unemployment in the county dropped from 10.9% to 9.9%.
The real estate market is tanking. Our biggest export is young people leaving this socialist craphole. Meanwhile, the average useless bureaucrat in this utopia makes $75,000, and the idiots in Lansing can’t imagine anyplace to cut government.
BTW, my taxes just paid for my neighbor’s triple, quadruple heart bypass surgery, so he could go on drawing his $200,000 government pension.
Life is so grand in Hillary Granholm’s socialist paradise.
I’ve said this 10,000 times and I’ll say it again: If you want to see what a Hillary presidency looks like, check out the late, great state of Michigan.
Granholm is just like Hillary - stupid, clueless, a drooling communist and an obnoxious twit who has accomplished nothing in her way too long life.
But the idiot voters wanted her in the governor’s chair because “she’s a woman and it’s time we had one of those.”
Stupidity grows on trees in this state and I fear it’s spreading.
Not sure about that. I think we have reached the point where they start taking credit for it. You know it’s going to happen sooner or later.
Thanks to the weenie media, the average citizen will not have much access to this news. In fact, most “average” citizens think we are in the depths of a major economic downturn despite all the evidence to the contrary. We live in a world of idiots.
Well, how the heck do ya think we got BOXER & FEINSTEIN, Inc? (Oh! And Pelosi, too!) They're all fellow travelers with Hitlery the Hell-Cat!!!
Now if we could just get the Republicans to stop practicing the "politics of expediency" which constantly turns into the "politics of self-destruction," then we might git somewhere. So the media is hollerin at yer fellow Michiganders to not recall the Reprobate Republicans that went for the gas tax increase... Lordy P. Dordy!!!
Page 6 in the business section. Thank you MSM.
and into hyper-inflation.
Oh it’s great to have that high BIP but what if it’s been made by selling the same house back and forth not only 8 times like in th fist quarter but now for 10 times. (In reallity CPs and other derivates are sold back and forth it’s really just about paper)
I talked to an ABN Amro incestmentbanker lately - he said that clintons financial politics where insane but somehow paid off - this feeling - he siad has increased dramatically just not for the pay off part.
How ignorant can one be in political blindness.
What does it mean if any guy without a cent can buy a 700k$ house ?
I believe that about a year ago, the deficit for this year was estimated at about 285B$... It looks like it actually is going to be about half of that.
I'd bet most governors are like Granholm. As soon as they get in office, they can't wait to raise taxes to "help the people". My own state of Wisconsin's Dem governor, Jim Doyle, is somewhat held in check by a Republican majority state legislature. But who knows for how long. Doyle had a huge brainstorm a few months back to raise taxes on oil companies in Wisconsin. Which would have probably meant a number of them moving operations out of state. But that's the way lib Dems think. To get out of a problem TAX, TAX, TAX,... and then tax some more.
You are so right about that. Survey's show that most Americans (two-thirds) still get the bulk of their "news" from network news. FOX is still way down the list as far as market share. And most people I know only read the local lib rag. They don't get on the internet or listen to Rush. Conservatives still have a daunting task in educating the American public. We've made gains, which has probably kept a liberal Dem out of the presidency, but we've a long way to go yet.
Great points. I saw your screen name, I live in Sanford.
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