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View Full Version : Economics A local "discussion" on the Dow drop


luv
08-08-2011, 03:12 PM
From facebook:

KOLR10 and KSFX
BREAKING: Dow closes down 631 points, below 11,000

Thanks Tea Party and everyone who voted for them.

heading for a double dip recession.

here we go again,,,,,,we will never be able to retire at this rate!

It's everyones fault. But some have too much pride to admit it...

Quote from S&P: Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.

Correction: 634

Every single member of Congress and the President should be ashamed of themselves to allow politics to get in the way of doing what is right for the country. A complete embarrassement. Disgraceful and a slap in the face to every hard working, tax paying, dutiful US citizen.

we should fire ALL people in congress!

Theres a big surprise. Should have happened on Friday.

It's sad when America's finest are blamed for the economy. I appreciated the President's comments. He has to make the decisions we put him in office to make. I for one, don't think I could handle the stress that comes with that post. God bless the home of the free and land of the brave.

More like 634 points, lets all thank Obama and vote him out in 2012.

Thanks Obamacare! and thanks to the shitbird in the white house.

he DOESN'T handle the stress. He hides. Tthrows lavish birthday parties and barbeques and God forbid we forget plays

I'd throw myself a party like that if I were him. He deserves as much less stress and what better way to destress than a birthday party! I only wish I had gotten the invite in time to make plans. Maybe next year ! :)

Health Care Reform has absolutely nothing to do with, and you're either uneducated or a fool if you think it did. A small amount of research using Google will show you where exactly our Country's debt comes from. Your absurd comments about Obama's worthlessness also goes to show you clearly don't understand how our Government works. I again urge you to do some research on a) How many laws have been passed to the President to sign since he took office vs past Presidents and b) How many filibusters have occurred in the past 2.5 years vs the past. If you have half a brain and any critical thinking faculties, you will then see where the problem lies.

I would like to know how and why the tea party should be blamed for this mess our country is in. Through the research that I have done, I have found that the Tea Party are fighting against the dems. AND the repubs. The Tea Party wants to stop wasteful spending, they want a spending cap (a real one), they want a balanced budget, they do not support tax increases. In MY opinion, this party seems like the common sense party to me.

How exactly does the Tea Party suggest we balance the budget? Any specifics? A link to specifics? Wasteful spending is a pretty generic term.

luv
08-08-2011, 03:13 PM
The first quote is from a local tv station. All others are responses so far from people local to this area.

I'm sure you could have guessed that the last quote is mine...lol.

HonestChieffan
08-08-2011, 03:23 PM
http://www.cutcapandbalanceact.com/bill.php

Actual text of the bill as passed by the house and tabled...meaning un read, no discussion and mo effort...by the Senate

luv
08-08-2011, 03:32 PM
A few additional comments:

Obama took a 1 trillion deficit and turned it into a 4 trillion dollar Deficit. Apparently you know nothing about economics, it takes more that a Google search. 47% of America doesn't pay taxes and receives some form of money from the Federal Government. Raising taxes a small group of people will not fix this. European Socialism will never work here. Its Bankrupt Europe and its gonna break us!

Lol...it's Congress......, congress, congress, congress! Duh! These policies and adjustments are controlled, literally voted on and controlled by CONGRESS!!! Get rid of them all!

Ron Paul 2012

Duh. Taxes are at an all-time low. Taxes need to be raised for everyone. Tax-code exploitation and loopholes need to be closed. Subsidies and tax breaks for businesses making profits hand-over-fist need to be put to an end.

And again, I am going to repeat myself. S&P's downgrading which has caused the dramatic drops in stock markets all over the world WAS DUE TO NO REVENUE INCREASES IN THE BUDGET BILL. And why weren't there any revenue increases....something which over 80% of American's understand is necessary? Come one....spit it out, you know the answer!

blaise
08-08-2011, 03:33 PM
So, noise.

luv
08-08-2011, 03:34 PM
I'm LMAO at the Ron Paul 2012 comment.

Chocolate Hog
08-08-2011, 03:36 PM
I'm LMAO at the Ron Paul 2012 comment.

Why? He's the one who predicted this would happen.

BucEyedPea
08-08-2011, 03:40 PM
Why? He's the one who predicted this would happen.
Yup! And he's the only one how can fix it. :thumb:

Chocolate Hog
08-08-2011, 03:43 PM
Not 1 man will be able to fix it. It's going to require hands off and let the market try and do some correcting of course congress is going to need to get real about cutting spending.

BucEyedPea
08-08-2011, 03:53 PM
Not 1 man will be able to fix it. It's going to require hands off and let the market try and do some correcting of course congress is going to need to get real about cutting spending.

Well, I agree, but he will allow the govt to take a more hands off approach which would include cuts to the private sector has capital to grow etc. He will do this where needed without tossing people out who have become dependent overnight. Then again, he will need permission from congress to implement these things.

Calcountry
08-08-2011, 03:58 PM
Well, I agree, but he will allow the govt to take a more hands off approach which would include cuts to the private sector has capital to grow etc. He will do this where needed without tossing people out who have become dependent overnight. Then again, he will need permission from congress to implement these things.They can never do anything without the approval of the Senate.

Bi Partisan.

How well do you think that cranky old fart will do with the Senate?

orange
08-08-2011, 06:25 PM
http://www.cutcapandbalanceact.com/bill.php

Actual text of the bill as passed by the house and tabled...meaning un read, no discussion and mo effort...by the Senate

You left out "REJECTED."

Predarat
08-08-2011, 07:29 PM
Ross Perot could fix it. If he was 10 years younger.