[Opinionated Blowhard]

The financial community is concerned that we don't have the political will to solve our debt problems.

This is the same "financial community" that came screaming for a bailout two years ago. What a bunch of jokes. And its the same financial community that is pushing Republicans to increase the debt ceiling. They are completely undermining the resolve that at least some people have to face the debt crisis. And its the same financial community that heavily supported the Socialist in Chief in the last election. They have no credibility.

And yet, we do have to do something. We have to cut spending and entitlements. But no one--not even many conservatives--are willing to do so. Talk about extending the retirement age for Social Security and Medicare and you get screams about how people "paid into the system" and so their benefits shouldn't be touched, as if there is some magical pot of money available to be tapped. No one wants to face the fact that Social Security tax money was spend 10, 20, 30 years ago. It isn't there. The only way to "pay back" current retirees is by taxing the sh&t out of current taxpayers, who don't have a prayer of getting back what they paid in.

[SMARTY]

Most Americans understand what is needed and are acquainted with duty and sacrifice. They accept the challenge and are willing to do what is necessary.

However, not only do we have to fight the actual economic battle… BUT, we have to fight the selfish, socialist, anti-American politicians who lack the political will to even allow that an economic abyss in yawning in front of us…. much less to squarely meet the challenge and recover ourselves!!

• THEY want to retain their STATUS and $$$$ at all cost
• THEY want to use OUR tax revenues to buy continued power
• THEY could care less what ultimate damage this does to the country and its future
• THEY misrepresent the urgency of the situation and distract voters with the emotional, immediate, personal and temporary

[Scotsman will be Free]

“And politicians don’t appear to have the courage to accept it.”
Neither does the average american. The current mantra is cut his, but leave mine.

[riverdawg]

Bill Gross is correct about the long-rum unsustainability of the Fed's interest-rate policy in the face of the huge budget deficits. But, as my mother used to say, “consider the source.” Pimco made a very large bet against medium-term and long-term Treasurys last year, and since then Gross has been relentlessly shilling for the bond shorts to do their thing so that his big move to corporates and foreign bonds will look prescient.

[Cringing Negativism Network]

Yap, yap, yap.

I have yet to hear even one of the “smart” people suggest bringing back American manufacturing.

Until then, they’re not smart. Just stuck on old scripts.

[Grampa Dave]

Pimco’s head pimp, the Gross one, was an avid supporter for Obozo in the election of 2008.

He, also, told 0b0z0 in 2008 to really spend our money when he became president. See link below:

http://blogs.wsj.com/economics/2008/06/30/pimcos-gross-to-president-obama-double-the-budget-deficit/

Bond king Bill Gross called on presidential nominee Barack Obama to double the federal budget deficit to $1 trillion by fiscal 2011 if he became president.

“The economy will need an additional jolt of $500 billion or so of government spending real quick,” said Gross in a letter to “President” Obama posted on Pimco’s Web site. “It must replace both reduced residential investment and consumption whose decline has placed the U.S. economy near, if not in a recession.”

Bill Gross

Gross noted that this year’s budget deficit should be about $500 billion. By doubling that to $1 trillion in three years, that would put the deficit at about 6% of gross domestic product, “a mere pittance by Japanese standards.” He said its deficit exceeded 10% at its peak a decade ago.

In taking shots at President Bush and the “mess” Obama would inherit as chief executive, Gross – a registered Republican – said, “Although your campaign slogan says, ‘Yes we can,’ I have my doubts.” While saying increased income taxes under an Obama administration would end “an eight-year lease extension on the ‘high life,’” he called on the presumptive Democratic presidential nominee to drop pretenses of Obama’s plans not adding to the budget deficit.

“While the Republicans will blame you for years and label you ‘Trillion Dollar Obama’ in future campaigns, there is in fact not much that you or any other President can do,” said Gross. “You’ve inherited an asset-based economy whose well has been pumped nearly dry with lower and lower interest rates and lender of last resort liquidity provisions that have managed to support Ponzi-style prosperity in recent years.”

As a result, “What you need now is fiscal spending and lots of it. No ordinary Starbucks will do, Mr. President, you need to step up for a six-pack of Red Bull.”

Gross noted that the spending will help push inflation higher still early next decade, with Treasury yields likely to continue rising into a potential second Obama term. “Your term will not go down in history as investor friendly,” he said. – Kevin Kingsbury and Shara Tibken

One of Grampa Dave’s basic financial core advise is to never invest with anyone who is a liberal or a rino like Gross, who supported 0b0z0 and advised him.

[cashless]

So after Gross made his comments, how long after he had left the set or building before they trotted out the Democrat party sycophants, Leesman and Insana, to counterpoint Gross’ analyst? There is a reason Gasparino went to Fox Business and I doubt it had as much to do with money as integrity. Remember it was Charlie's book that blew the facade off the Rats lie that Wall Street was run by Pube sympathizers when in fact something like 3 out of 4 stood with the Rats in the last Presidential cycle and NONE of the so called regulations have done anything to help Main Street but the banks and brokerage houses have made out wonderfully. No perp walk for those thieves or their buddies at Fannie or Freddie.