Classic Obama double-speak

[petegz28]

Obama said the top priority in solving the country's fiscal crisis "must be jobs and growth."

White House press secretary Jay Carney said the president would bring to the table a proposal for $1.6 trillion in new taxes on business and the wealthy when he begins discussions with congressional Republicans, a figure that Obama outlined in his most recent budget plan. The targeted revenue is twice the amount Obama discussed with Republican leaders during debt talks during the summer of 2011.

http://www.cnbc.com/id/49821777

Ok, you can't say on one hand your #1 priority is "jobs and growth" and on the other hand talk about raising taxes on business.

For the economically challenged, raising taxes on businesses raises the cost of doing business which does not spur job creation nor growth of the economy.

I swear listening to this Admin and his party makes me feel like I took a handfull of crazy pills sometimes.

[Comrade Crapski]

Originally Posted by stevieray

this can't be fixed. ever.

Even if it could, Barry would be the last guy you'd hand a power tool too.

[BucEyedPea]

Also Bernanke's policies could kill any recovery.

[petegz28]

Originally Posted by BucEyedPea

Also Bernanke's policies could kill any recovery.

Well, you are correct but I find your answer weak due to lack of explanation.

[J Diddy]

Originally Posted by petegz28

No, because I want you to learn something of value. But I will help you learn.

You understand what commodities are, correct? Oil, copper, natural gas, coffee, orang juice, pork bellies, etc.?

Now ask yourself, who uses commodities? Answer: Everyone!

Now for the fun part.

Commodites are denominated in what currecncy? Answer: The US$

So now basic economics come into play

What happens to say, the price of copper when the currency in which it is denominated loses value?

I have a basic understanding of inflation. Please indicate where you feel it will be a problem.

[BucEyedPea]

Originally Posted by petegz28

DING DING DING! Now carry it through....

What did Clinton have and Bush destroy and Obama finish what Bush started???

He had a Republican congress...but I don't think you're looking for that....because it doesn't fit your question.

I dunno. I'm stumped. I'll buy a clue though.

[petegz28]

Ok, I will give...

It's the ****ing $ people! And all the tax reform in the world will not do dick for the $.

The Federal Reserve has the most impact on the US$ via interest rates. The lower the rates, the lower the value of the $. The lower the value of the $ the higher the costs of commodities denominated in said $.

So in plain english:

The lower the $ the higher the cost of oil
The lower the $ the higher the cost of copper


Are we getting it now?

The Federal Reserve has had a policy over the last several years of keeping the interest rates at excessive and some economists say artificially low levels.

So if Obama was actually educated on the economics of our market place, when he was asked in the debate why gas was lower and now higher, he would have said "because the $ is lower which drives up the cost of good such as oil, instead of his bullshit answer of "the economy was bad then".

The cost of commodities impacts everyone from rich to poor. What ****ing good does it do to give someone an extra $20 a paycheck in tax cuts if that just goes to that gas tank because gas prices are high?

[BucEyedPea]

I see Obama as the embodiment of both Bush and Clinton. So I don't know what Clinton had that Obama doesn't.

[petegz28]

Originally Posted by J Diddy

I have a basic understanding of inflation. Please indicate where you feel it will be a problem.

Inflation will not be a problem for a while simply because the pendulum has swung so far in one direction it will take a while for it to swing back to the other.

Our economy not only could withstand higher interest rates we actually NEED higher interest rates for a vast amount of reasons. It benefits our society in so many ways at so many levels.

Basically at this point a stronger $ eliminates the hidden tax we have all been paying for quite some time.

[chiefforlife]

So your answer is to raise interest rates?

[BucEyedPea]

Originally Posted by petegz28

Ok, I will give...

It's the ****ing $ people! And all the tax reform in the world will not do dick for the $.

The Federal Reserve has the most impact on the US$ via interest rates. The lower the rates, the lower the value of the $. The lower the value of the $ the higher the costs of commodities denominated in said $.

So in plain english:

The lower the $ the higher the cost of oil
The lower the $ the higher the cost of copper


Are we getting it now?

The Federal Reserve has had a policy over the last several years of keeping the interest rates at excessive and some economists say artificially low levels.

So if Obama was actually educated on the economics of our market place, when he was asked in the debate why gas was lower and now higher, he would have said "because the $ is lower which drives up the cost of good such as oil, instead of his bullshit answer of "the economy was bad then".

The cost of commodities impacts everyone from rich to poor. What ****ing good does it do to give someone an extra $20 a paycheck in tax cuts if that just goes to that gas tank because gas prices are high?

Oh, okay....I call that debauching the currency instead of saying it like that.

Just one thing though, the debauching of the currency began under Greenspan and continued for 16 years. It was mainly due to cheap imports from China and technology advances which makes certain goods cheaper that inflation didn't rear it's head. But it did by 2007/08.

[petegz28]

Originally Posted by chiefforlife

So your answer is to raise interest rates?

EXACTLY! Sounds insane doesn't it? Do you know why the Fed won't raise rates and why we hear all this bullshit about raising rates will hurt the economy?

[La literatura]

Originally Posted by petegz28

EXACTLY! Sounds insane doesn't it? Do you know why the Fed won't raise rates and why we hear all this bullshit about raising rates will hurt the economy?

Because we want people to make big purchases.

[BucEyedPea]

Originally Posted by chiefforlife

So your answer is to raise interest rates?

Actually, that should be part of the solution. One of the problems has been they've been too low.
The zero percent offers were part of the Bush stimulus.

[chiefforlife]

Originally Posted by petegz28

EXACTLY! Sounds insane doesn't it? Do you know why the Fed won't raise rates and why we hear all this bullshit about raising rates will hurt the economy?

Im listening...

[BucEyedPea]

Originally Posted by petegz28

EXACTLY! Sounds insane doesn't it? Do you know why the Fed won't raise rates and why we hear all this bullshit about raising rates will hurt the economy?

Why?