If conventional wisdom is always wrong, how does it become conventional? Is non-conventional wisdom always right?
There was an election and that bastard was re-elected. We lost two seats in the Senate and several more in the House.
The GOP in Congress should simply release a statement to the effect that they will not oppose ANYTHING Obama proposes economically. They will not however support it. They will abstain and the ENTIRETY of the consequences will fall on the Democrats.It will be Obama’s program and his alone.
THAT will lead to TOTAL economic collapse and then maybe the American public will realize what damn fools they are.
Its reached that point.
Elections have consequences and the electorate needs to face them.
What kind of “limit” is it if it can always be raised?
Yep.
Money is no longer tied to gold or silver, and hence has no intrinsic value.
No matter how bad we eff things up, the Euros will always be ten times worse.
A number of despotic regimes in this world (Russia, House of Saud, the ChiComs) can continue to prop themselves up only by continuing to sell to the West.
Hence everyone will pretend there is no problem and the game will continue on and on and on and......
Whereas the economic analysis in this article is correct, I have to disagree with his political assessment.
The politicians set this whole thing up such that there is no way to assign blame on anybody. The tax increases were passed two Congresses ago.
While disclaiming “conventional wisdom” this is CW at its worst.....
Watch.....O will facilitate the cliff...then fasten your seatbelt.....
Author thinks the Dems & their Dear Leader won’t vote for tax increases? That what the campaigned and won on! “TAX those filthy rich bastards!”
BTW.....this author is predicting the future. How good at that have conservatives been in the last year????????
“There is no actual solution to the fiscal cliff....”
“e have lied for more than a decade about economic progress — there has been none. It has all been borrowed and bought forward, and the ability to do that has now ended.”
http://market-ticker.org/akcs-www?post=214077
Forbes is part of the problem....
If they think we are stupid enough to fall for “lower rates”, then just wait until “we” see our tax bills in 2013 and 2014. And yeah the withholding for 2014 taxes will jump before the 2014 elections
and philosophically, why should this economy “favor” real estate (no jobs or taxable wealth created there, right? all those generations before us were just WRONG about that)
or private health savings or retirement savings or private support to charity or risking and investing something instead of spending it all like no tomorrow?
Let the govt handle all that
sarc
Deal = RINOS caving again
There will be a deal. No doubt. It won’t come close to fixing the problem, of course. Neither side is serious about fixing the problem.
When a politician opens his/her mouth, only three scenarios are espoused
1. lying to be elected
2. lying to be re-elected
3. pandering to the party bosses for choice committee assignments.
All other blathering can be ignored.
The same human nature that said anyone who voted for McCain would not vote for 0bama. Be wary of folks who speak with such certainty about human nature.
The voting public will never feel compelled to reduce Federal spending until they are forced to pay their share.