How dare those unknown faces at S & P downgrade our credit rating and put a damper on economic growth. The reality is they are just responding what we have done to ourselves. If you had an income of say 100K and a debt of 500K does that make you a 3A risk? No way! It is not the TP who was willing to set the government crashing against the fiscal rocks but a string of incompetent and compliant members of congress and the executive branch. Blame the messenger does not work.
When Obama appeared before the teleprompters the other day to help calm our growing fears something struck me. I put in the back of my mind as just a quirk on my part until Margery Egan and a few internet commentators pointed out the same. Obama appeared scared. I watched him on the internet and that was my reaction. A president who knew everything his administration has attempted has failed. A president who knew he was in way over his head. A president who left immediately afterwards for a political fund raiser.
Will the latest mess result in a new Congress? I firmly believe it will result in a new president as leadership goes well beyond the ability to present yourself well and talk a good game. I wonder if the Tea Party will be part of those swept out or if somehow Republican and Democrats running will attempt to adopt some of the TP fiscal agenda?
Why this administration is a wreck. David Alexrold a flack for Obama blames the whole fiscal mess on the TP. A recent comment I read said: “They spend money we do not have, and then they blame all the people who want to cut spending.”
As gas prices crash the one thing that pops up is our legislature and illustrious governor considering a raise in the gas tax.
The futures traders in oil have really gotten killed in the last two weeks. Many are sitting on $110 a barrel contracts and have been forced to liquidate other assets to cover and that includes investment houses and hedge funds. So that just adds to the frenzy.
There is actually profit to be made in a cash is king environment. Many stocks have shown substantial declines and for the five star companies out there undervalued is some real bargains. I like Boeing (BA), Alcoa (AA), General Electric (GE) and Morgan Stanley (MS).
Trickle down is the old RR song and dance that Democrats loved to tap dance all over especially the more liberal element within the party. Of course they were willing to use the same logic behind the Stimulus measures but just attempt to frame it differently but you have seen and will continue to see a rather negative trickle down. Anyone that is a member of FinCom, SC or the BOS sees it constantly. The state reduces a program and then the town gets stuck. Or the stte gets stuck when the feds do the same and it then trickles down from them to where the buck stops - us. Usually these programs have an “M” to designate mandated,
The international debt crisis has its foundation firmly rooted in socialism. The cradle to grave has a bill to pay and when too much is given and too little comes in borrowing takes place. And when a government realizes the insanity has to be moderated you have riots as in Greece. Now when this eventually happens in this country do I chain myself to the nursing home or burn my Social Security card in protest?
The AARP set to which I belong meaning over age 50 has tremendous political clout. There are a lot of us and we vote. Many younger folks do not - probably working too hard to pay my SS? Anyways, it will be interesting to see how energized the over 50 set is to rewarding themselves at the expense of everyone else. IMO the over 50 set is by far the most politically savvy group in this country and will be key for making the decisions that will impact for the next fifty years. If all holds true they will step up and take a hit “for the children.”
I just wonder if congress is capable on making revisions needed to the tax code. What can be done to make it more attractive for corporations to invest in the U.S.? What loopholes will have to be addressed? Eventually a tax hike is almost a given. I hate the idea but we will be in a hole with no way out. Everyone should get nicked and maybe a few nicked a wee bit more than others. No way anyone either GE or a citizen should pay zero taxes.
This generally runs counter to my own personal philosophy that the government has enough revenue but does not allocate it wisely. They screwed up. We have hired and fired them and they still screw up so giving into their spending addiction is questionable.
Talking heads are always discussing all the intricate programs that home in on a variety of statistical data that results in automated computer trading. Machines betting against each other? The response is so quick that huge blocks of stock can be bought, sold, bought and sold in a matter of minutes. This seems to be a significant issue on volatile trading days and I wonder about one point the “experts” don’t mention. On my laptop I have a button to turn the thing off. Years ago when I worked with massive mainframes - some of the biggest in the world - we had a lever that was labeled: Power on/off.
The Fed will keep a lock on their interest rates for two years so that is some level of stability.
I had several economics courses in college and if you really want to mess with you mind for a day or two read up on Keynesian economics and the negative and positive positions on it. Toss in all the other various schools of economic though and theory and then realize that these are the folks running the economic show. That’ll make you feel all warm and fuzzy.
Why do we fight two wars? We now have a mess in Afghanistan with a measured with drawl taking place. At the end of WW II the U.S. packed up and left. Equipment was left behind and some of it was some great stuff used for decades my scavengers from other nations. What is stopping our government from simply commandeering civilian aircraft and doing a reverse Berlin Airlift? Is it our “Word?” A bad war becomes a horrible war when it continues without resolution in view or any firm and attainable objectives. Just leave Afghanistan. Maybe put it on travel sites for those wishing to view life in the 17th century.
The defenders of the failed administration seem to just be in a constant snit over the reporting on FOX. I guess what passes for reporting on CNBC and MSNBC is acceptable?
The MBTA is nine billion in the hole. That’s their debt. Now there are reports they have been unable to pay claims against the “T.” Some have waited well over a year. The MBTA is a wonderful hack dumping ground that is certainly on a par with MassPort and the Lottery. BB wants to carry on about excessive pensions and benefits those three hack paradises would keep him blogging into the 22nd century.