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It's Official: QE 2 And The Tax Cut Have Been A Failure
From Peter Tchir of TF Market Advisors
It's Official: QE 2 And The Tax Cut Have Been A Failure
Well it looks like the rich have taken the tax cuts and used the money to buy 'necessities' at Tiffany's rather than hiring people. Weren't the tax cut extensions necessary for hiring? It really looks like that money went straight to little blue boxes. Does Kraft Mac'n Cheeses still come in dark blue boxes? Maybe we aren't separated into rich and poor, just which shade of blue box you can afford?
It is hard to find anything encouraging about the numbers out today. For the past 4 months now, the NFP has added 752k jobs. 610k of those have been birth/death jobs. If you do year to date, it's not as bad since January saw a large negative birth/death adjustment. I am concerned about the validity of the birth/death model. We have gone through such unprecedented changes in the economy I find it hard to believe that the model is calibrated well.
I still like being short IYR, SPG, VNO on the back of the move in CMBX. I am digging deeper into corporate credit, but 2 worrying signals are there. Recent new issues seem to be struggling. Even GOOG is wider. The indices are also starting to trade fairly cheap to fair value. This combination is rarely good so selling LQD (on spread basis) and HYG while collecting more details for this analysis.
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... sounds like a good case for more QE to me... er, no.
However, what other bullets does the privately owned FED have?
cost of hiring is too high
too much gov regs & mandatory employee expenses
Yeah, we gotta cut worker protections to enable employers to hire people in the US. A new meme in the making!
Im starting to get the shakes, I need some QE3 quick
Smoke a little hopium, it'll take the edge off..
BOOOOOOOOOOOOOO!!!!
BOOOOOOOOOOOOOOOOO!!!!!!
that's bullshit!
Look at Corporate Earnings!!!!
Look at the Stock Market!!!!!
Your Bottom Up views are getting OLD! TYLER!!
QE was a Winner! for Winners! You are just mad Losers did Not get anything! WELL! they are losers! thats why they did NOT! get any of the $18 trillion dollars!!!!
Even Tiger Blood, Junky Charlie Sheen got a $100 Million!!!
Look.. its like this.. there is this big Club! and You and the rest of these fucking Losers here aint in it!
I mean, you are in the Club that pays for the $18 Trillion Dollars Spent Club!
So the Pay For Club! You are in.. the Spending Club! You ain't in!!
All you fucking, pussy, bitchy (like lil women) get out on the street and make daddy some money.. so that daddy can spend his $18 Trillion and not think about it!
LOL...
Typical Joo :(
"QE was a Winner! for Winners!"
Not a debate champion were ya?
By "protection" you mean getting a good salary doing a job any one armed twit could do right ?
Nah, I was meaning ALL protections. I'm glad to see that people, failing to perceive my sarcasm, junked me for sounding like such an asshole, though.
So business income continues to spiral downwards with no one working to buy the crap.
there are a billion consumers in china. keep that in mind when viewing this hyperlink
http://www.nypost.com/p/news/international/teen_sells_his_kidney_for_ipa...
OK, either the rich spent their money at Tiffany's which put it in the bank, or the rich put it in the bank directly. Does anyone really think they are each sitting on a big pile of it like Scrooge McDuck? To blame the "rich" in this regulatory environment is silly. http://www.startribune.com/opinion/122751424.html
No kidding. Or at least an over-generalization blame on the rich.
Here is an idea, come up with products that the rich want to buy and therefore get THEIR wealth! If the rich are buying, they must buy it from someone. Who is the someone? Other rich people? Perhaps, but unlikely. The rich also aren't out there at Walmart or buying stuff from huge shitty corporation. They don't spend their money at home depot on Chinese shovels. Therefore, the "not rich" should make goods they want to buy!
How about "accident" insurance?
Yes, must eliminate mandatory employee expenses, like Pay checks every week. This would help the environment, too. So, we can please the Right, and the Left.
Actually it's too low, but bankster propaganda will change that viewpoint, and it has for you.
People are fucking idiots. You do believe in capturing every sohpistry laced 'self limiting behavior' based on complete bullshit.
Cost is too high? Actually since minimum wage should be over 30 bucks if you compared 30 bucks with 25 cents as being equal when minimum wage started, and that we've cut regulations down to the bone (particularly GLB in 1999), and retirement costs are necessary....you're right....opening a business here is only PARTLY a sweatshop, and you want full on sweatshop for your 'hard stolen fraudulent debt based fiat'.
...and even if you got your way....you'd still use your money to buy Tiffany's instead.
That's the game....always give me more...then I'll open up shop.
Why. Because
why. Because
Why. Because
Why. Because
Glass-Steagall and bury these assholes in their own shit.
If QE2 was a failure, why should BB initiate QE3? I am sure he wants some time to, in professorial fashion, re-examine his hypotheses and models. Therefore it will take time for QE3 to launch, and it will not be the same as QE2. In the meantime, Wall Street gets to press the sell button. Deflationary hell has to be created for BB to jump in, the jobs situation is bad enough, so nothing has to be done there. It is going to be a long, ugly summer of misery...
if at first you don't succeed, try try again...
(and what makes QE2 a failure? Have you seen the Wall Street bonuses? QE2 worked like a charm).
or...
the definition of insanity is to do the same thing over and over again and expect a different outcome.
the bernaked has wished for us whilst the banksters have shit on us. Sir.... may I have more? (from Olivier Twist and Animal House)
I agree with Bernake fitting the definition of insanity.
I'll bet that he's 100% certain that it will work this time, fur sure!
Triple down on another QE!
Reminds me of a friend of mine who put his rent money on black because black hit 3 times in a row, and it landed on red. Called me broke in Vegas like an idiot.
They could point the gun into their throat and pull the trigger. That would largely fix the economic problems after 1-3 years of sorting things out.
Chances of this: zero.
I think they are getting ready to use the real kind
Depleted Uranium Rounds!
Tuco
and it looks like a gangbang crew are starting to gather around ms long bond futes too.
Just now figuring that out now? We have been deriding it for the last year.
Yeah well third time is a charm. QE3 here we go.
Agreed. Very quietly, and in typical Wall Street engineered fashion, this overblown REIT group has been leaking quite noticeably. After almost three years of ramping, this group looks done.
...wish I could agree, would love to short the CREITs to their true valuations.
But I am looking at SPG up there at 114 and not really seeing the "signs" of cracking quite yet.
REITs will remain strong because investors need yield have very few opportunities to attain it. Given many REITs have significantly higher yields than many fixed income investments, they will remain strong as they're added to portfolios as yield substitutes.
Right, and its real estate, which never goes down. It all went up together, it will all go down together. When is the only question.
Actual yield is created when people/companies pay their rent. No rent - No yield.
Yield is diluted by driving up the stock price (rents aren't going nor are occupancies). There will be more 'no rent' situations than not going forward. REITs continue to dilute the stock by issuing more. Guess what's going to happen?
The takedown will be sudden, probably large scale false flag attacks around the country. People wont be worried about their REIT's, theyll be looking at the supermarkets and banks burning down due to the chaos and riots when the sheeple of america panic.
Correct in relation to property [REITs]. The real value of property is nowhere near in sight yet, despite the bloat in this group. For example, had the Fed not taken in all those bad mortgage obligation crap instruments, there would have been no rush into this group, less those seeking income. At current prices, the risk reward on hanging around for quarterly distributions is FUBAR.
Per Simon, that will be the last tree to fall [because it is the aglo darling fav], especially now that the retail group WILL BE, as Peter Yastrow shouted, looking at its coming depression [just watch the XRT for confirmation]. Blue boxes will not support malls. Tiffany's...yes. Mall [un]occupancy will be a headline story in coming months, years.
The fake, money printed bounce is ending. The job picture will worsen, not improve. Employment requires a real economy. Now, if uncle Ben goes in for the kill on the middle class yet one last time...who knows what will happen...but I doubt it will be shop owners stepping up to pay inflated rents in deserted malls.
http://www.businessinsider.com/satellite-tour-foreclosure-cities-2011-1#boise-idaho-1-in-21-homes-in-foreclosure-the-red-dots-show-foreclosures-1 - Foreclosure WarZones Around the US
Perhaps the red dots are coordinates for the unmanned drones to attack. Just like FDR paid farmers to till under their crops, Bush O'Bama could consider bombing the shit out of foreclosed homes. Perhaps this help that birth/death adjustment for jobs even more into his favor, as well as reducingthe inventory of homes on the market. We wouldn't want cheap housing for the plebes now would we? Can't have housing prices falls because the banks would be hurt. We need to protect the banks!!!!!!!!
Very prescient SheepDog-One!
Tuco Benedicto Pacifico Juan Maria Ramirez
Tyler - Didn't you hear? This lull is just transitory - the result of one-off weather events, meltdowns, and uprisings. They have no underlying connection, and so there is nothing to worry about.
Government spending is way past taxation (income) solutions. The debt bomb is ticking and loss of reserve currency status will be the trigger. The rest of the world needs to cut up our credit card, and take away Benron's computer. Only then will the fraud and counterfeiting end, and the games (WW3) will begin.
America and Europe...unite to take over the ME oil. We need cheap oil desperately. Do you think TPTB will let it all fall because of the Muslims?
That's where WW3 will be fought. America and Europe vs. Russia and China played out on the Mideast oil fields. The Muslims will just be pawns in the game. Israel vs. Arab countries could be the flash point needed to get the party started, or some sort of OPEC restructuring of payments for oil (no more acceptance of dollars). I don't think TPTB will go down without a final fight.
When the point of macroeconomic debt saturation “is reached, then adding more debt or even printing more money will only lead to further unemployment as the cost to carry that debt adds more and more burden to the economy. This concept is the one that puts the complete lie to all the supposed economic experts as the diminishing returns of debt created have already shown.” Nate on Nathan’s Economic Edge June 3, 2011
well that is surprising.
Anyone remember way back in '09 when all the analysts, prognosticators, Barama fans, MSM...crystal balls were predicting "Q2 turnaround", "summer of recovery", Q3 recovery, 2H rebound?" yada yada yada
There was a HUGE turnaround in 2009. In 2008 Wall Street was laying people off left and right and there weren't record bonuses (for one year). Obama's desire is full employment and record bonuses for Wall Street EVERY YEAR, otherwise, the ponzi and the spending desires of the White House and Congress are unatainable. This is the perverse incentive of the current tax burden distribution (Wall Street bankers & firms are a form an outsize percentage of the top 1% and 5%. Therefore, the bank(er)'s income needs are the tax needs of the government. As it was between 2008 and 2008: Deficit-to-Spending and Debt-to-GDP moved from 35.1% to 63.3% and 70% to 84% respectively. If the 2008 layoffs had continued and there wasn't a 2009 Obama Banker Full Employment & Bonus Plan and tax receipts dropped by $500B, then Deficit-to-Spending would have risen to over 90% and Debt-to-GDP would have been over 100%, and the ponzi would have collapsed two years ago. Washington desperately needs banks & bonuses to continue to spending orgy. Changing the politicians & their spending habits is the ONLY way to reign in the banks and bankers.
Failure for whom?
The rich are richer...and that's what matters in a free market.
The rich will also be screwed, unless theyre in the 'super elite rich' which youre not in unless your net worth says 'trillions'. Millionaires, even billionaires are looked upon as peasantry by the puppet masters.
Yes. What's more, in Obamaland “rich” is an income of $150,000 for a single taxpayer.
Asking Bernanke to admit the failure would be more difficult than asking the NY hotel maid to accept the sex advance from Kahn.
Bernake will be removed from his post by the next administration.
At this point, there may not be one. Assuming a next administration is beginning to be assuming a lot.
When Jim Roger said "that guy is an idiot, he should resign". I couldn't agree more to it.
He also said, "he's never got anything correct in his life". However this was before fall 2009 when Bernanke said "no double dip", which so far has not happened.
Crissinger, Martin, Greenspan... the maestros of every credit boom each had impeccable career timing.
http://www.time.com/time/magazine/article/0,9171,723335,00.html
The right/left paradigm is a false one. Bernanke and 95% of our government are owned by international banksters and corporate crooks. The next administration will not fire Bernanke unless the true bosses, the international banks, want him fired.
Tuco Benedicto Pacifico Juan Maria Ramirez
1. There have been no incremental tax breaks for the rich in a long time, to my knowledge- certainly none under the Obama administration. The December agreement merely extended the status quo on the Bush tax hikes. One wouldn't expect any boost to the economy coming from a nonevent. The question is what might or might not have happened had taxes risen.
2. There WERE payroll tax cuts in December, benefitting all workers, but benefitting less wealthy workers far more than the rich. If you define "rich" as making over $250K a year, then the impact of the 2% payroll cut for the rich was about .8%. If you make, say, $60K per year, the cut was a full 2%. If you're truly wealthy, say making over $1 million a year, then the cut was about 2/10 of a percent.
3. Regarding QE2, I wonder where interest rates would be were it not for the $600B of fed purchase of govt debt. Don't get me wrong, I completely oppose QE2 for a variety of reasons. And even if QE2 kept certain rates lower, its negative effects were much greater in my view than the benefits.
Most of the 2% payroll tax cuts have been offset by higher gas prices. Net zero for the economy.
Why did the 2% decrease come from the coffers of the Monster?.( SS)
Why not just from regular Income taxes?.
Strike anyone as another nail, and on purpose nail?.
That's the last place the break should have come from.
Makes ZERO sense.(to thinking humans).
The coffers of the monster don't exist in the first place.
The cut was a reduction in US Treasuries purchased by the Secretary of the Treasury, in his capacity as Trustee. Since the was no change to US spending, the same Treasuries were instead purchased by the Ben Bernanke and Federal Reserve in their capacity as primary lender to the US Government.
This isn't Norway, there are no assets a Trust Fund to liquidate.
Gold has done OK though.
What is astonishing to me is that anyone could imagine that it would be different with $90 oil for going on 8 mos? How can they possibly imagine the engine can run as the fuel supply gets choked off?
"We have gone through such unprecedented changes in the economy I find it hard to believe that the model is calibrated well. "
The model isn't calibrated. It's skewed!
BOOOOOOOOOOOOOO!!!!
BOOOOOOOOOOOOOOOOO!!!!!!
that's bullshit!
Look at Corporate Earnings!!!!
Look at the Stock Market!!!!!
Your Bottom Up views are getting OLD! TYLER!!
QE was a Winner! for Winners! You are just mad Losers did Not get anything! WELL! they are losers! thats why they did NOT! get any of the $18 trillion dollars!!!!
Even Tiger Blood, Junky Charlie Sheen got a $100 Million!!!
Look.. its like this.. there is this big Club! and You and the rest of these fucking Losers here aint in it!
I mean, you are in the Club that pays for the $18 Trillion Dollars Spent Club!
So the Pay For Club! You are in.. the Spending Club! You ain't in!!
All you fucking, pussy, bitchy (like lil women) get out on the street and make daddy some money.. so that daddy can spend his $18 Trillion and not think about it!
Hahaha, with 2 trillion $, the FED could have given every american 10000$. It changes nothing. The FED should print more, I think 1 million per head is a good start, that would make it 200 trillion. It looks like we have another 100 QE to go.
http://goo.gl/FnxBZ Treasury Direct $14 Trillion Debt
http://goo.gl/TMl74 $15 Trillion in Loans
http://goo.gl/EXzal ='s $29T
http://research.stlouisfed.org/fred2/series/BASE 3 Years 300% More Dollars Printed Out of Thin Air! (part of the $14 Trillion above, but a good source for you later)
so $2T equals $10k per person.. 9 times that is $90,000.00 per person. in the last 3 years..
people want to know what it feels like to be ass raped! now you know! bend over Bubba has some more LONG dick for yer ass!
I get the point of your rant, but using the sum of all of the short term loans is a bit disingenuous. I'd go back and find out the peak total amount of crony loans outstanding during the period, but what's done was done.
Taxes for the "rich" and corporate tax rates are scam political platform for bitching...truly, no matter how high taxes are, the TRULY uber rich (the owners of the privately owned Federal Reserve Corporation and their agents) will find loopholes to not pay it, and then the real job creators (small business folk) will end up screwed...and while we do have high corporate tax rates, no matter how high they are or how low they are, most corporations will pay less because of their ability to use loopholes (deductions, credits and LEGAL ways to get out of paying)
The only HONEST way of getting job growth and revitalization of our country's ability to heal from the grand robbing by the Federal Reserve's baby TBTF banks, is to have a LOWER TAX RATE FOR INDIVIDUALS AND CORPORATIONS AND MAKE IT FLAT SO EVERYONE REALLY HAS TO PAY SOMETHING...FLAT 20-25% WITH NO DEDUCTIONS AND PROVISIONS TO GET AROUND PAYING (LOOPHOLES) WOULD BRING IN MORE REVENUES THAN OUR CURRENT B*** S*** SYSTEM THAT ALLOWS WAYS TO GET AROUND PAYING FOR SOME, THEN NOOSE AROUND THE NECK WHICH HAS RESULTED IN LESS GROWTH FOR THE PEOPLE WHO TRY TO RUN SMALL BUSINESSES.
Until the public discussion starts getting honest and on the same page: the rich are not getting richer (small business owners ) but a few rich (the owners and agents of the privately held Federal Reserve Corporation) are ALWAYS GETTING RICHER BECAUSE THEY RUN THE COUNTRY AND WRITE THE LAWS FOR OUR LEGISLATORS SINCE THEY PAY ALSO THE VAST MAJORITY OF CAMPAIGN FUNDS FROM ALL DIFFERENT CORPORATE CONTRIBUTIONS SINCE THEY OWN MORE THAN HALF THE DOW AND S&P...while the vast majority of people in this country and the vast majority of small business owners who create jobs will be hurt by the twisted tax policies and the graft that occurs as a result of all benefits of a toobigandtooarchane system to understand tax code gives benefits for huge corporations (and privately held Federal Reserve owners that own half or more of all shares to these corporations) not to pay tax, and the ultra ultra rich owners of a private Federal Reserve corporation to insist on laws to be created for saving their banking system and allowing them to pay nothing while we, our children and all our heirs will pay the bill for the bailouts that we are told must be.
Flat tax would last like two seconds before lobbyists would agitate for exemptions, shelters and tax credits.
Totally agree, but for a better USA, this would be blocked and prevented for a true flat tax.
If government spending was confined only to that which is constitutional, we wouldn't "need" an income tax.
However, I believe we'll not see that kind of contraction of government without some serious watering of the tree of Liberty.
This is the wrong argument: the argument is about who is getting by on scamming and who is not: the "rich" are irrelevant as they can take their wealth and move if they wish to. What is gut sucking the United States is the government/public workers who have enriched themselves at a level that the small business owner can only dream of. You would have to be certifiable to try and start/run a small business when you can earn a comfey retirement after twenty years, and keep your job at top wages, and you can pretend to work (See: school administrators for the best example of this. Does your school superintendent have a retirement benefit they are collecting while getting a paycheck? Probably? What about the other school administrators? Probably same thing. Meanwhile their benefits mean they don't pay for a: car, gasoline, fees for membership fees to groups, et al.)
Even better be a welfare employee so you can pretend to be important while working at the local courthouse shaking people down as they come in...have you seen these people? Skanky, sleazy, unbathed, hair uncombed, unshaven, disgusting. And they touch you? Bed bugs anyone? But the welfare class, as communism always does, tells them they are the important ones and their abuse of you increases and increases...and soon, you are gone...
I don't think I noted a "wrong" argument, but FOR SURE, your argument is of even higher importance and farther reaching in effects...let's get both problems corrected for our country!!!!!
I want to know how many billions leveraged 50:1 it took to keep this ponzi from cratering this morning. Fuck - 10 days of massaged and manipulated statistics and reports, then an epic miss....on a friday with with all the bullshit in Euroland and Japan, WTF?
Yeah shortie, don't fight the FED, Market will go up, not down.
thats not true! dont fucking spread lies! you dumb fuck!
you can short Oil! it is FED Approved to Short Oil!!
you can not short the markets! not for how many years now?
fucking grow up! life is not fair! the markets are not fair! and logic is for people who want to tell themselves they are smart! well if you are so smart Mr. / Mrs. Logical! how come all your bets are LOSERS like you?
Remember, -50% wipes out +100% every time. It is truly suprising how many people don't understand this.
Now, -50% No way! you cry. Well, I was there in '87, -22% in ONE DAY.
+186%, the nominal gain needed to claw back to even on a 65% loss. Who loses like that, mutual fund 'investors' lose like that. The Bernank is indeed their savior. Every one of them who froze like so many deer in headlights of the 2008 wreck owe him a rim job, or deux.
'Cause that's how I talk!
http://www.youtube.com/watch?v=bOAnoi7NpKI
Seriously.
Awe, everything is fine... QE Shmoowie http://www.unleavenedbreadministries.org/?page=seeing
...it's only a Brown Dwarf? http://www.youtube.com/watch?v=MqV0StQbJQs
They need QE's not to create jobs, but to PRINT MONEY
and pay off one credit card with another one, that's is why there
always be QE 3-4-5-6-7 Until debt totally inflated at
word-wide expense ( don't forget that world holding more
than 50% in the currency balance ) So, by devaluating the dollar
US FED sucking up wealth from every country in the world, until
USD not reserve currency anymore. So DEBT is nothing compare
to the USD currency status, as FED can will print infinite amount
Of USD.
since only the rich pay income tax....and tiffanys conjures their goods out of thin air? wow, learn something new every day.
if you want jobs...you have to lower the costs of hiring someone...there are so many rules and regs to follow and to pay for that is so much easier to hire overseas...period....so we are left here with the service jobs...the jobs that can´t move...like a cleaning lady..if you can get the lawyers to back off here in the USA....good luck..and the Socialist Politicians to stop passing anti business laws, regs, and rules...then we might have a chance......but I am sorry...its not going to happen...at least not until after the crash..
I need to see a video with those two talking bears to explain this all to me.
Why would anyone risk their money in an artifically propped up economy? You have to let it crash to the point where fear subsides and greed forces money back in. QE and tax cuts can only delay the inevitable, not fix the systemic problems.
QE2 worked as intended.
A. Greedscam is a pimpco whore.
That is all.
Success? Failure? Depends on the goal. They managed to devalue the currency and virtually eliminate the middle class...Sounds like mission accomplished to me. I think that was the goal all along...and yes...of course...propping up the market for the rich to get richer was certainly part of the task...which was also a stunning success.
The White House's reelection strategy is to destroy the middle class. They want debt slaves who will trade votes for food stamps, and the current income tax rates on ever increasing banker bonuses to pay for the food stamps.
Remember that little documentary called "Inside Job"? Supposily shedding light on the corrupt financial industry??? Incase you were wondering who the director might be that is trying to bring you the light... Here ya go.
http://en.wikipedia.org/wiki/Charles_H._Ferguson
Ferguson is a life member of the Council on Foreign Relations
Ferguson was originally educated as a political scientist. A graduate of Lowell High School in 1972,[5] he earned BA in mathematics from the University of California, Berkeley in 1978,[6] and obtained a Ph.D. in political science from M.I.T. in 1989. Following his Ph.D., Ferguson conducted postdoctoral research at MIT while also consulting to the White House, the Office of the U.S. Trade Representative, the Department of Defense, and several U.S. and European high technology firms. From 1992–1994 Ferguson was an independent consultant, providing strategic consulting to the top managements of U.S. high technology firms including Apple Inc., Xerox, Motorola, and Texas Instruments.
http://empirestrikesblack.com/2010/08/inside-job/
Can you say planned destruction? Buy Silver!
http://www.youtube.com/watch?v=rqyKYrDta_E !!!
http://redicecreations.com/article.php?id=15626
Tax cuts for the rich failed.....so where does this leave those who insisted on negotiating tax cuts for the rich?
Are they clever people - or economic retards?
I wonder what will be suggested next - perhaps that the prison population should work for free? - oh wait, someone's already thought of that.
America - the dream is over I'm afraid - you need a new dream, one that doesn't involve being the worlds policeman fighting the very people that you armed.
The people of America need to stand up and be counted - the rest of the world is relying on you.
1932 repeats itself.
Now that the rich have filed their income taxes and taken their tax cut so that they could hire more people,
WHY DID UNEMPLOYMENT INCREASE?
The unemployed are really getting a bigger tax cut.
More tax cuts are coming with a balanced budget.
More tax cuts are coming so that companies can have more cash on hand to invest in job creation projects.
(I hope you did not think that those jobs were going to be created in N.A.)
jal
QE used taxpayer money to prevent deflation. But it short-circuited economic restructuring which would have brought in new entrants, fresh ideas and meaningful competition. It kept the failed status quo alive for another day
The issues are structural.
There will be no meaningful upward economic change until after structural changes are recognized and implemented.
The current problem is that the polys are not even addressing structural issues.
pretty sure that qu2 was just about buying more time for the banker clan of darkness to get their pieces in place... that is, their money out of danger, and setting the peasants up for a massive crash. then they move in like vultures and take whatever of value remains for a pittance, while instituting a police state to crush and resistance.
Which tax cuts would you be referring to? The tax deal in December left rates where they already where. In fact, taxes have been going up via the 3.8% Medicare surtax and various deduction phase outs. The only "tax" cut was the 2% deduction in FICA, but that was for everyone and effectively capped at the $100K (+/-). That was basically a raid on Social Security to fund a welfare handout - that certainly appears to have failed.
Presumably he means the Bush tax cuts in 2001-2003, but since he is not explicit, your question is a good one.
This revolution will not bring back that nostalgic, German invention made famous by Dr. Guillotin during the French Revolution ! No, no, no and no ! We are much more civilized and believe in painless executions ! People who are caught with Dollar Store macaroni and cheese will be spared ! The pigs who are surprised with Kraft "premium" Mac 'n' Cheese, in the blue box, will be sumarily executed using the "Kavorkine" machine ! A Guillotine type machine where the neck yoke is replaced by a butt yoke and the 45 degree slice-o-matic blade is replaced by a lethally dosed pair of syringes to delivery the cocktail of death ! The condemned will be given oral sedatives and then a Novocaine injection in each buttock ! Monedas 2011 We've come a long way, Baby ! http://trololololololololololo.com/
it's not a failure until liesman says it is on cnbc
the msm will never admit the money policy was flat out wrong..so people will keep hoping you know until it changes..hope and change a slogan I can believe in.
Silver back up $36/oz
if your spending a lot of $$ at any store (high end or not), doesn't that stimulate job creation?
This article makes no sense.
This obsession with the "Rich" and the affluent that supposedly shop at Tiffany's is laughable…
most of what they sell are sub $500 "trinkets" to the middle class wanna-be-affluent
and even then it was probably charged to plastic so net net there isn't much of a bright spot in these numbers
More:
Bloomberg: QE2 Failed to Boost U.S. Spending, El-Erian Says: Tom Keene
The money went to offshore banks, over $30,000,000,000,000.00 to date.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aY0tX8UysIaM
Tuco Benedicto Pacifico Juan Maria Ramirez
sometims i wonder if u people take ur meds as you are against and junk away people who talk about decent salaries and basic protections, yet decry the sinking economy and why there are no jobs and a bunch of lazy people and don't understand why there is no demand. Businesses need to hire people; its that simple. and any BIZ who doesnt hire people after they make certain amounts of profit should be taxed out the ass and if they dont like it, tough, leave. But never come back and your goods will be banned from being imported to the largest consumer economy & anyhwere we control. Your ships will receive no protection. This is what being tough is. Dont' like it. Tough. Call it what you will; i don care. Americans need jobs and nobody wants to do the tough lifting to do it. No options my ass. Just no easy options for our rotten politicians.
Or we could just nationalize all the companies! Yeah, yeah, that's the ticket. Or we could raise taxes. Or we could create a workers communist paradise. And when none of that works, we can try to create wealth by printing money in a centrally planned crony capitalist system. We could just repeat every mistake made in the last 100 years. Whatever we do, let's be darn sure we don't increase freedom or go towards a free market. That would be horrible. I mean we kept taxes the same and people didn't hire 1 mil people. Other stuff may have happened in the mean time but I'm sure it isn't important.
what does increase freedom actually mean...it sounds like a stall platitude like every last one of our politicians repeats over and over. It's time for solutions. Is taxing companies who make billions in profits and pay no taxes and actually receive tax breaks and refunds communist? Or is it just realistic to ask them to contribute to the general welfare of our citizens by hiring them and paying them a decent wage propotional to the jobs demands instead of offshoring them (your talk is just divise and ends up hurting our country.)...where did I hear that about contributing to the general welfare...or yeah it's in the consitution (In fact, it's one of the main parts).
No business = no jobs, no army, no fuel, no food, no unemployment checks, no SS checks, no SNAP cards, no medicare reimbursements.
Trollonomics 101 ! Trumponomics 101 ? Vote the Socialist filth out of office ! Why punish the producers ? Monedas 101 Ludwig Von Mises Primer (There is a not so remote possibility that Monedas is a distant relative of Sarah Palin and Wilfred Hahn....and you want to fuck with me ?) http://trololololololololololo.com/ AND Eduard Khil !
The money never trickled down from Reagan's cuts, nor any after. Of course they bought Tiffany cufflinks to shove up their ass....it was 'their money'. Jobs? They have no clue what that is, nor how to create them...and now that we've been destructing this economy for the past couple of generations, many have never SEEN a real job. (so how could they create one?). They just have 'stakes' in other people's businesses destroying the country (through unlimited bankster fiat debt loans [the plan]).
Glass-Steagall
It didn't trickle down....it gushed in all directions....especially into Government coffers ! Government revenue doubled ! The Socialist scum want so much more than more money for their sociology experiments on live human subjects ! If they just wanted more money....lower tax rates work every time they're tried ! They want to destroy the last vestiges of Capitalism and freedom so Socialism will look like a reasonable option ! They long ago gave up "competing" with Freedom in the marketplace of ideas ! They are economic terrorists ! Monedas 2011 99% of all "physical" Terrorists are Socialists to boot !
Taxes weren't cut. They were simply not raised. Only in a fairy-tale world is not changing anything supposed to change things.
Peter Boockvar nails it
http://video.cnbc.com/gallery/?video=3000025576
Zimbabwe Ben and his boss, BOzo, will both be looking for jobs in a couple of years.
Well, of course, in a completely financialized economy, the money created goes to the Fantasy Finance Sector, that's a given.
Where else would it go.
Prof. Michael Hudson has been warning of this, and explaining this for over 30 years now.
Calling anyone else an economist, who is in his age category, and hadn't been stating the same thing is a complete and utter travesty.
Sure, those goofballs like Stiglitz have finally frigging evolved into semi-rational econs, but tooooo little, tooooo late.
Go back and read Brandeis' Other People's Money and How the Bankers Use It.
Same thing today, just with many more layers.
The banksters have arrested the development of the economy. End of story.
Oh thank you oh gracious, supreme leader. Please guide us on how to spend our own money. We need help as we are too foolish to have any clue where to so wisely consume. Please, in your almighty wisdom, enlighten us on what to do with our earned property.
"Tax cuts for the rich failed?" That's red herring since the rich don't support the economy in the first place! But the sheeple can't even figure this out!
Warren Buffet is the richest man in US, right! How many jobs did he create? He sunk his and multitude of other investors' money into the stock market ponzi scheme for the last several decades--didn't even spend a penny, the miser that he is. And now he and Bill Gates will throw it all into the Trust Fund Foundation black hole just like Rockefeller and Morgan did before them, whose money brings you the faces that you see daily on TV from the myriad of conservative think tanks that "shape" US economic and political policies now and in the future.
Even if warren Buffet and Bill Gates donated all their money to Red Cross at once today, they could never undo the damage that their lifetime of speculation, and policiy advocacy brought to America.
Warren Buffet is a champion of companies that like to charge fees and provide nothing in return, like insurance companies and Wall Street firms: from AIG to Goldman Sachs, Warren will swoon with his billions to their rescue and use his "do gooder image" to provide cover of respectability to firms running cons.
Bill Gates like almost other billionaries made his money from selling equities and stock options to the sheeple. Bill Gates did not make his money by creating any jobs and selling software: he made his money by selling Microsoft stock and options. And he even has taxpayers foot the bill for enforcing his copyrights all over the world.
They can't paper over the economy anymore, and it's showing.