5 Reasons Wall Street Is Worried

Pajamas Media ^ | March 7 | Victor Davis Hanson

[BuffaloJack]

Wall Street is wooried because they know that a bankrupt government cannot bailout a bankrupt bank.

[Iron Munro]

This is how the public schools worked when I went through.

Unabashed patriotism and free enterprise were the order of the day. Of course, most of the teachers had grown up in the depression and WWII years.

[sfvgto]

BO seems to be a split-second decision maker with a reckless streak. He will have to rely on luck because he has nothing else going except his mouth. He’s one of the best bullsh!tter’s politics has ever seen. 4 and out.....

[trek]

"...while creating so much debt that in the next decade, should interest rates rise, the federal budget will be consumed with servicing borrowing and entitlement obligations.

This is conscious policy. And, ironically, it takes a page from the Reagan playbook.

One of Reagan's goals for lower taxes was to starve the Federal beast. The idea was that lower revenues would force a slowdown in the growth of government. As we now know, this failed. To our stunned amazement no amount of debt could curtail the spending proclivities of the Federal Leviathan.

Note what is missing in the above passage about Obama's future spending requirements: defense spending. Obama's plan is to overwhelm the Federal Budget with untouchable entitlement spending and debt service forcing the nation to disarm. Pretty clever.

Obama and his minions are cunning and dangerous. Given the complicity and stupidity of the press it will be very difficult to stop them.

[Myrddin]

I hate January. The loss of pay floors me.

You really discover how much is being sucked out of your paycheck when you compare the last one in December to the first one in January. My middle son is really going to have to shift from simply living in my 2nd house to being an active rent payer when the taxes are cranked up. Since the property tax deduction is going away and the mortgage interest deduction is going to be reduced, I need to change those into expense items against the rental income. I would be happy if the net situation was a wash as any net income would just add to my tax burdens.

[patton]

When you change it to a rental, you can write off income up to the level of expenses, and vice-versa.

So the ideal situation is for his rent to equal your cost.

[Myrddin]

One of Reagan's goals for lower taxes was to starve the Federal beast. The idea was that lower revenues would force a slowdown in the growth of government. As we now know, this failed. To our stunned amazement no amount of debt could curtail the spending proclivities of the Federal Leviathan.

This same observation holds true with respect to those who claim the "Fair Tax" would force fiscal responsibility by "starving the beast". The "beast" is bent on spending. It will spend whether it has money or not. Even with a "Fair Tax", the money in our pockets is going stolen by hyperinflation.

[Myrddin]

the money in our pockets is going to be stolen by hyperinflation.

[trek]

agree

[RightOnTheLeftCoast]

"FICA ceilings are removed?"

Yes. Right there is a additional approximately 7% tax on earnings above the previous floor.

Feel stimulated yet?

[dusttoyou]

he does not seem to care about—or perhaps appreciate — the consequences

I am convinced the HNIC does clearly know the consequences for America and is intent on paying America back for his incorrect perception that America is racist.

The only time I have any “superiority” thoughts regarding ANY other person is when they get in my face showing my pre-conceived preceptions to be correct. Like Rush said, I hope everyone prospers, but I would like to add, “At the sweat of their own brow, not by reaching into my pocket while I am bent over my plow”.

[Steve Van Doorn]

some of you have it backward.
wall street likes socialism. If you are a big business you can set up your company over seas and create large contracts through the government. In other words you pay very little in and still pick up the contracts.

[PerConPat]

Hanson: ...Obama remove[s] incentives for innovation and productivity, but...he does not seem to care about—or perhaps appreciate- the consequences...

Of course he doesn't care about matters that he cannot or will not appreciate... President Zero is the product of a political machine that runs on the fumes of a system that it is systematically destroying. Socialism is "vampire economics" that is perpetuated by the majority's inbred stupidity. Political correctness, preservation of pest animal species at the cost of canceling worthwhile development etc. are signs of the deeper sickness that lies at the heart of democracy.

Obama and his like are narcissists who actually believe that they have been endowed with the power to ensure that resources are "fairly" distributed amongst the great downtrodden masses. Only the physical demonstration of the dangers of collectivism can change things. Only after intense suffering can the mob be enticed to restore the freedom necessary for the greatest good.

The wonder is not that we have come to this point; but that it has taken so long. It is a testament to the power of the system established by the Founders that we have made it this far. Fasten your seat belts; the downward slope is getting steeper. I watch and wait.

[xcamel]

Another example of the great failing of the educational system.

[Scanian]

I agree. The pubbie problem is that they worry far too much about protocol and decorum. DeLay was the last in-fighter they had in the House. I can’t remember a hard-nosed Rep. senator, can you? Not recently, anyway.

[Steve Van Doorn]

what do you mean?

[reaganbooster]

Jesse Helms is the last one. Unfortunately, he’s unavailable to run again.

[Tolik]

Thanks.

The VDH ping list was pinged to this article here: http://www.freerepublic.com/focus/f-news/2200550/posts

But the more the merrier.