MAKE IT STOP!
Posted on 02/28/2009 9:04:24 PM PST by Sequoyah101
Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.
(Excerpt) Read more at cnbc.com ...
A good talking point is the direction obambi is taking to reach 30% of the economy going to taxes and the government. Overhead and a lot of it in my equation. A European metric of sahre of the economy going to the government.
And according to the IBD polling, investors voted for Obamao in a larger proportion then they had in any election in 30 years or so.
Quite literally, they are reaping what they’ve sown and brought it down on everyone else.
MAKE IT STOP!
I cannot understand why so many rich voted for this guy. Does this make any sense at all?
5.56mm
It’s not just 0bama. The SEC and various government regulators are actually aiding and abetting financial fraud through their inaction. Until this ends, private capital will continue to flee US markets and the SPX will lose perhaps another 50% in the coming months.
From Denninger:
Reported this afternoon:
Citibank: Carrying loans on book at $660.9 billion; 10K filed today discloses that “fair value” is $642.7 billion - a “discrepancy” of $18.2 billion dollars.
Bank America: Carrying loans on book at $886.2 billion; “fair value” of $841.6 billion, a shortfall of $44 billion.
Wells Fargo: Carrying on book at $843.8 billion; “fair value” of $829.6 billion, a discrepancy of $14 billion.
This is all off 10Ks filed this afternoon - **after the market closed** - and referring to earnings reported during the last quarter’s releases.
Maybe someone can tell me why:
1: You can “report earnings” and not include this in the release, when it is a very material piece of information, thereby making your company look like it made more (or lost less) than it actually did.
2: You can then “amend” your report in the 10Ks, thereby “copping” to your original lie.
3: And I suppose you’re going to tell me that there was no inside information being traded on today too, right?
These banks were rallying up to Friday, and all of them fell between 15% and 40% during Friday’s trading. BEFORE this news was supposedly “out”.
Enquiring minds don’t have much question about this type of crap any more.
Quite literally, they are reaping what they’ve sown and brought it down on everyone else.
A fairly smart independent at work I was talking to before the election claimed that he was going to vote for 0bama because 'he was going to reduce the deficit' and I reminded him of his proposed $800,000,000,000 increase in spending which would give a trillion dollar deficit.
People just turned their brains off - I think a lot of people bought into a lot of the anti-GWB indoctrination that was so pervasive during the last few years.
America voted for Obama to check the box and show how post-racial we were. It will end up having been cheaper just to pay slave reparations and offer African repatriation packages for those who want them.
That polling was shocking, maybe 30% of the “investor class” was going to pull the lever for a NeoMarxist when anyone with half a brain could see this coming a mile away.
I really wish conservatives would begin to awaken to the distinctions between Bush and Obama. The scale of difference is mammoth wherever one looks.
The spending increases under Bush were mild and yes constrained by his White House.
As a percentage of GDP they were well below the average since 1980.
Much of the spending was military spending which is and was fully justified.
The Obama spending is going to be exponentially larger, permanent, and taken out of defense budgets.
Bush’s tarp program had a re-pay component that the current stimulus does not.
People also forget that bailouts of S&Ls did work out under Bush I.
I wish conservatives were willing to do the work distinguishing Bush 2’s budget work from obama’s.
They thought they would own him, which is typical of the "Useful Idiot" class.
However, Obie is owned and operated by Soros, or a group that includes Soros, who probably consider the "Rich" voters to be bourgeois pretenders.
Politics really attracts strange bedfellows. Just happened to run across these wild German photos of their pre-Lent (like Macy’s parade) celebrations. You would not believe the political content of some of these floats. I cannot even begin to imagine anyone doing that in this country to Hillary or Helen Thomas.
http://www.spiegel.de/fotostrecke/fotostrecke-39987.html
I'm shocked that this is from the so-called MSM. Perhaps there are some cracks appearing in the foundation of Obie's support.
Not that this will help much, at this point. After all, he "Won", and we have no chance to get rid of the Dems in Congress for at least a couple of years.
A lot of damage can be done in the meantime. And then there's the issue of ACORN's taxpayer-funded vote-fraud machine.....
Must be under the hypnotic spell of the O’blah-me.
Maybe we’ve had it too good for too long....everything works out for Americans in the end...we win our wars, our economy recovers... our instinct for survival is dulled by all the success.
I’m thinking most never realized how extremely terrible it could be... and now that it’s too late some are starting to see.
2 words - “Republican Fatigue”.
The people (sheeple) were tired of the Republicans and wanted some type of change, unaware of what they were doing. Thus they got a collective “brain fart” and stunk up the works.
Financial statements in 10K and such are all but meaningless. Certified yes but no intent to make them very consistent from period to period nor understandable by most investors.
This is intentional. It could be much more simple but such is not to the advantage of the seller.
I sure hope you are wrong about the SPX but fear you are not.
Yeah, I know a “conservative” who voted for obambi. He claimed it was a protest vote and that he thinks the rich need to share more of their wealth...he didn’t figure on being one of them at the time and claimed he “had enough”. That has changed now and I see him twitching a lot now.
His angst is one of my few remaining pleasures these days.
Frankly, I LMAO when he laments the market and his long lost retirement.
Rich liberals and ass-kissing greed-lovers don’t care what will happen to us. They can afford the added taxes.
Just like the French Revolution. Except this time, the peasants aren’t going to eat cake, just the greedy. (Except Soros - too tough and sour. Maybe we’ll just have to hang the traitor. Did the French do that? No, they used the guillotine. Are there any on Ebay? Just dreamin’)
My heart will give out before this destruction of America is finished. Won’t be able to afford my meds.
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