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Biderman On Obama As The Worst 'Fiscal' President Ever

Tyler Durden's picture





 

The US government will be bankrupt after another four years of the same Obama we had for the past four. Fitch as much as confirmed this when it suggested a downgrade is coming. TrimTabs' Charles Biderman takes us succinctly through the painful math of just what has happened in the last four years: since Obama has been president after-tax take-home pay for everyone who pays taxes is still down by about 5% nominally and more than 10% after inflation. Dismissing GDP as anything but a misguided and misused spreadsheet output, the bombastic Biderman is concerned - and rightly so - as he sums up: "My guess is that Mr. Obama and his close buddies have no idea what they are doing, or else they would not be doing what they have been doing. The most dangerous are those people who think they are smarter than they are."

 

Perhaps it is his ranting tone but the greyness of the storm-clouds in the background are perhaps the best analogy for what is to come...

 


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Wed, 11/07/2012 - 18:05 | Link to Comment Zer0head
Zer0head's picture

Obama Phone

Wed, 11/07/2012 - 18:07 | Link to Comment no taste
no taste's picture

Karl Rove is going to need an Obama phone.

Dear Clint Eastwood, A letter from an Angry Republican.

Wed, 11/07/2012 - 18:22 | Link to Comment Zer0head
Zer0head's picture

I was going to add that we best get used to it casue 4 years is a long time and very importantly Michelle (to be known as MOBAMA) is ilayng in wait,  and make no mistake she could shred Hillary with one of her amazonian arms tied behind her back.   

Think about it long and hard, we have just completed the first four years of  what will be a sixteen year Obama Reign

 

America is not the America that many thought we knew and that demographic is expanding, by 2024 if you are unlucky enough to still be here words will not be able to describe that world 

Wed, 11/07/2012 - 18:30 | Link to Comment goldfish1
goldfish1's picture

Paging Biderman:

NEWSFLASH:

Ain't Obama nuttin but the front man for the owners...

Wed, 11/07/2012 - 19:21 | Link to Comment malikai
malikai's picture

Sorry Mr. Biderman, the Goldman horse didn't come in.

Here he was spotted last: http://i.imgur.com/XgRik.gif

Wed, 11/07/2012 - 22:48 | Link to Comment economics9698
economics9698's picture

Obama doesn’t know squat about much but he does know communism. 

To quote Russian communist founder Vladimir Lenin:

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”

“The surest way to destroy a nation is to debauch its currency.”

Wed, 11/07/2012 - 23:12 | Link to Comment blunderdog
blunderdog's picture

Big fan of the bourgeoisie, are ya?

Thu, 11/08/2012 - 02:31 | Link to Comment Ayr Rand
Ayr Rand's picture

Obama spent $5T to get 5M people jobs over 4 years. That, my friends, equates to $500,000 per year per job. Assuming these jobs pay an average $100,000 per year, and those getting the jobs pay 18% tax (the average), then the return on investment is -96%.

Of course we don't disagree with stimulus. We disagree with incredibly incompetent stimulus. 

Compared to this, Bernanke's idea of just dropping money from a helicopter ("a trillion here, a trillion there" to use his words) seems pretty cost-effective.

Thu, 11/08/2012 - 16:36 | Link to Comment blunderdog
blunderdog's picture

"Obama" didn't spend $5T, though.  He spent about $600B.

Most of the $5T is money that is legally required to be spent.  It just doesn't make any sense to blame the President for Social Security and Medicare--it's not something he can CONTROL.

But my question was: why would anyone feel bad for the bourseoisie?  Think about it: they're the technocrats living around DC and the bankster-boys in Manhattan and Connecticut.  (And their ex-wives.)

economics9698 is CRYING for these people?  What in heaven's name for?  They've never been anything but shills.

Wed, 11/07/2012 - 19:03 | Link to Comment rodocostarica
rodocostarica's picture

Michelle as president? Anything is possible but that is a truly frankenstinian clusterfuck of an outcome. She is good though and with the same teleprompter who knows. And Michelle is so into the whole queen thing and would inherit the Obama machine and the money. 

God Im glad I moved down here. We have a woman president but at least she has a decent ass for her age. WTF.

words will not be able to describe that world

That statement there is the truth. No words could describe it.

Wed, 11/07/2012 - 18:11 | Link to Comment midtowng
midtowng's picture

When Reagan was running huge deficits I was told it was the fault of the Democratic House.

Now Obama is running huge deficits and I am told it is the fault of the presidency.

someone needs to get a better grasp of the Constitution.

Wed, 11/07/2012 - 18:14 | Link to Comment NidStyles
NidStyles's picture

What does the Constitution have to do with the debt?

Wed, 11/07/2012 - 18:19 | Link to Comment Spirit Of Truth
Spirit Of Truth's picture

Remarkable coincidence that Wall Street is currently suffering the impact of winter storm "Athena" (read: Athens) as today's break in mass psychology hit:

http://thespiritoftruth.blogspot.com/2012/11/a-break-in-mass-psychology....

Is democracy failing consequent to the role of the "money masters"?

http://www.youtube.com/watch?v=HfpO-WBz_mw

Wed, 11/07/2012 - 20:46 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Spirit Of Truth provided another glimpse into his peculiar world:

Remarkable coincidence that Wall Street is currently suffering the impact of winter storm "Athena" (read: Athens) as today's break in mass psychology hit

Coincidences happen. It doesn't make you Jesus.

Thu, 11/08/2012 - 00:38 | Link to Comment Spirit Of Truth
Spirit Of Truth's picture

I'm not Jesus.  I believe I'm the reincarnation thereof: http://thespiritoftruth.blogspot.com/2011/04/ive-been-nailed.html

There's a difference.

Wed, 11/07/2012 - 18:25 | Link to Comment alangreedspank
alangreedspank's picture

Apparently, it can be used to limit size and scope of governments. I tried to protect myself from a mugger with a piece of paper the other day and that didn't go over too well...

Wed, 11/07/2012 - 19:11 | Link to Comment ACP
ACP's picture

Works better on spiders around the house.

"Hey, how's that guy gonna read that thing with it all rolled up like that?"

Wed, 11/07/2012 - 18:27 | Link to Comment RSloane
RSloane's picture

He'll get right back to you on that, I'm sure!

Wed, 11/07/2012 - 18:28 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Back then the House actually passed a budget every year.  Obama doesn't even bother to propose a budget anymore. 

Wed, 11/07/2012 - 18:32 | Link to Comment goldfish1
goldfish1's picture

At least he's realistic.

Wed, 11/07/2012 - 18:50 | Link to Comment Taffy Lewis
Taffy Lewis's picture

I'm glad to see Uncle Charlie back here on ZH!

Wed, 11/07/2012 - 21:53 | Link to Comment midtowng
midtowng's picture

If it isn't even part of the budget process then it would be hard to put the blame on him.

Wed, 11/07/2012 - 18:52 | Link to Comment Nels
Nels's picture

It is the fault of the president & harry reid.  The supposedly one-time high spending of TARP, etc, was locked in when the obamanation and harry reid refused to pass any new budgets.

Wed, 11/07/2012 - 21:54 | Link to Comment midtowng
midtowng's picture

so what you are saying is that Republicans can never be at fault. Period.

Wed, 11/07/2012 - 18:26 | Link to Comment zerozulu
zerozulu's picture

This economy has become a runaway train going down hill. No one can stop it from crashing. So do what Romans did when the Rome was burning.

Wed, 11/07/2012 - 18:07 | Link to Comment dlmaniac
dlmaniac's picture

The most dangerous are those who don't pay tax and yet are allowed to vote on how much tax everyone else should pay.

Wed, 11/07/2012 - 18:09 | Link to Comment Racer
Racer's picture

Like the CEOs of the likes of Amazon and that coffee company what ever it's called, have never used it but know they don't pay taxes!

Wed, 11/07/2012 - 18:10 | Link to Comment bobnoxy
bobnoxy's picture

Which is pure horseshit since poor people don't pay taxes, and most poor live in states that vote Republican, but I guess you had no idea, as usual.

Wed, 11/07/2012 - 18:29 | Link to Comment alangreedspank
alangreedspank's picture

They vote Republican because they DO expand government. Remember who reformed welfare in the 90s ? Right, Clinton. The GOP talks the talk, but in the end, people know where the govt cheese is.

Thu, 11/08/2012 - 10:17 | Link to Comment marathonman
marathonman's picture

Clinton wouldn't have touched that issue with a ten foot pole if it wasn't forced down his throat by the Republicans.  George W. Bush and Barack Obama taught me a valuable lesson.  Gridlock and opposition politics is preferable to one party rule regardless of the party in power since both parties are currencly owned by Goldman Sachs.

Wed, 11/07/2012 - 18:38 | Link to Comment zerozulu
zerozulu's picture

Poor spend 100% of their income and give it back to economy. Rich even don't spend 5% and don't give back to economy. Here lies the problem. That's why 5% are hoarding 99% of this country's wealth.

Wed, 11/07/2012 - 19:43 | Link to Comment Overfed
Overfed's picture

You're full of shit, Bob. Whenever a politician offers to rob Peter in order to pay Paul, he's going to get the vote of Paul. Dem. or Repub. doesn't matter, stop pretending that it does. They're all a den of vipers and thieves.

Everyone needs to get off the Party platforms and start voting for real change, not just the Dem or Rep ticket. Anyone who claims one party is more for the little guy than the other is a fool and a moron.

Wed, 11/07/2012 - 18:12 | Link to Comment midtowng
midtowng's picture

You mean retired people?

Wed, 11/07/2012 - 18:24 | Link to Comment bobnoxy
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Partly, as Romney crushed Obama with the over 65 crowd, and who's getting most of the S.S. and Medicare payouts? But also that of the 25 states with the lowest per capita income, 19 voted Republican yesterday. And who's on food stamps and Medicaid? Poor people, right?

We are talking here about the people who don't pay taxes, right?

Wed, 11/07/2012 - 18:45 | Link to Comment Things that go bump
Things that go bump's picture

Ah yes, those who don't know which side their bread is buttered on.  Idiots.  

Thu, 11/08/2012 - 03:20 | Link to Comment John_Coltrane
John_Coltrane's picture

Romney crushed Obama with White people all over the country (+20% among males, +10% among white females).  The poorest states in the country based upon debt are California and Illinois and both have very large minority populations hence huge welfare costs.  The demographics in this country don't bode well for future wealth production unless you aspire to be like Mexico.

Thu, 11/08/2012 - 10:20 | Link to Comment marathonman
marathonman's picture

Demographics is destiny.  I guess we're both rascists now.

Wed, 11/07/2012 - 18:23 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

Retired People are the ones that will have to pay more.  They are the ones that are living on Dividends and they will be forced to pay 25% in taxes.  They also have not gotten increases in Cola for their Social Security.

 

Wed, 11/07/2012 - 18:32 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Thank the Bernank for all of that.  Can't earn any interest income, so they are forced to buy stocks that pay dividends.  Wait until those stocks take a big hair cut and it wipes out all of the dividends that they ever made on said stocks.  And no COLA for SS because CPI is pencil whipped to say whatever the Bureau of Bullshit wants it to say.  Its like a Jedi mind trick-----this isn't the inflation you are looking for.

Wed, 11/07/2012 - 18:52 | Link to Comment gmrpeabody
gmrpeabody's picture

There's no inflation here..., move along.

Wed, 11/07/2012 - 18:40 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

True and just because a person is retired doesn't mean they don't pay taxes they sure as hell do even on Social Security they pay federal taxes just like anyone else depending on their income, many states charge taxes on Social Security as well.  In addition to taxes on their pension, state taxes, local taxes,property taxes, etc.

 

Wed, 11/07/2012 - 19:01 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Taxes, taxes, taxes. I can't believe people want ever more government in all aspects of their lives. Talk about begging to be a slave.

Wed, 11/07/2012 - 19:10 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

I know it seems the only way to escape taxes is death or by living on Welfare or a low income job because any taxes they pay, i.e., sales taxes is given back to them by the Earned Income Credit

 

The 49 Percent That Defeated Romney: Young Voters

http://www.bloomberg.com/news/2012-11-07/the-49-percent-that-defeated-romney-young-voters.html

Wed, 11/07/2012 - 18:19 | Link to Comment Zero Govt
Zero Govt's picture

DLmaniac  "The most dangerous are those who don't pay tax and yet are allowed to vote on how much tax everyone else should pay."

Never known any voter, taxpayer or not, ever in the history of democracy (cough) get to vote on the tax rate

Wed, 11/07/2012 - 18:31 | Link to Comment alangreedspank
alangreedspank's picture

Voting for the anti-business, rich hating guy = voting for potentially more taxes.

Wed, 11/07/2012 - 21:04 | Link to Comment dirtbagger
dirtbagger's picture

When one's choices are between a mediocre leader and a duche bag, mediocrity will win out every time.

Wed, 11/07/2012 - 19:05 | Link to Comment Matt
Matt's picture

Take a look at the California Ballot Initiatives. They got to vote on:

Raising sales tax from 7.25 to 7.5%, creating new tax brackets over $250K ---> Passed

http://ballotpedia.org/wiki/index.php/California_Proposition_30,_Sales_and_Income_Tax_Increase_(2012)

Charge out-of-State businesses California income tax on sales made in California (sounds like a big deal, could affect products sold in California) ---> PASSED

http://ballotpedia.org/wiki/index.php/California_Proposition_39,_Income_Tax_Increase_for_Multistate_Businesses_(2012)

Raise sales tax and use the proceeds for education --> REJECTED

http://ballotpedia.org/wiki/index.php/California_Proposition_38,_State_Income_Tax_Increase_to_Support_Education_(2012)

Wed, 11/07/2012 - 19:09 | Link to Comment Zero Govt
Zero Govt's picture

Matt, i stand corrected, thanks

thanks and "f'n hell" ..i never thought the Progressives of California would allow anyone a right to vote against their theiving!!

Wed, 11/07/2012 - 19:28 | Link to Comment Matt
Matt's picture

In California, the legislature needs a 2/3 majority to raise taxes. They also seem to have a huge problem with partisanism and encumbants lasting forever. As well, cutting spending is unpopular. Getting the people to vote on the taxes is the only chance they have to balance the budget / reduce the deficit.

Wed, 11/07/2012 - 20:25 | Link to Comment Zero Govt
Zero Govt's picture

as you know the correct way to balance the budget is to stop/cut spending, not grasp the wrong end of the stick, ala Christine Lagarde, and blame taxpayers for not contributing enough

not like politicians understand common sense things like that

Thu, 11/08/2012 - 12:09 | Link to Comment Matt
Matt's picture

Not just politicians. In California, voters can pass initiatives that involve spending money, without passing any new tax or fees to fund that new spending. I'm pretty sure some of their expenses come from that.

Oh, and it gets better; as I understand it, initiatives cannot be repealed by the legislature; only another initiative can change/remove them.

Wed, 11/07/2012 - 22:46 | Link to Comment monad
monad's picture

All the talent is leaving California...

Thu, 11/08/2012 - 01:57 | Link to Comment Harbanger
Harbanger's picture

I thought it was all the locusts.

Wed, 11/07/2012 - 18:30 | Link to Comment zerozulu
zerozulu's picture

Every one is being bailed out by Tax payer. Question is, "Who is paying the Tax". Answer, No one. Country is run by the PRINTER.

Thu, 11/08/2012 - 02:03 | Link to Comment Harbanger
Harbanger's picture

One way or another, the national debt will be paid by the 20-30 year olds and their future children.

Wed, 11/07/2012 - 18:08 | Link to Comment VulpisVulpis
VulpisVulpis's picture

I, for one, welcome our new imperial overlords

Wed, 11/07/2012 - 18:22 | Link to Comment slaughterer
slaughterer's picture

Biderman is channeling the doom that Rosenberg somehow dropped on the way to the A Ward. 

Wed, 11/07/2012 - 20:51 | Link to Comment Mr Pink
Mr Pink's picture

I always thought it was one word.....OBAMAPHOOOONNNNEEEE

Wed, 11/07/2012 - 18:06 | Link to Comment Jason T
Jason T's picture

biderman?  where the hell is biderman been?

Wed, 11/07/2012 - 18:09 | Link to Comment FreeMktFisherMN
FreeMktFisherMN's picture

Maybe he's been prepping to go Galt.

Have a lot of respect for him (his FB call aside) for his intellectual honesty/integrity in seeing what a scam all this is, especially after he seemed to be a mainstream econ kind of guy earlier on in his career. 

Wed, 11/07/2012 - 18:13 | Link to Comment adr
adr's picture

My town has a Galt Park. Maybe I can start the American Revolution Part II from there.

Who else is with me?

Wed, 11/07/2012 - 18:20 | Link to Comment Jason T
Jason T's picture

nothing wrong with trying to go galt.

Have to give respect to the Amish.. they went Galt a long time ago.  

Wed, 11/07/2012 - 18:29 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

I know. I was thinking the same thing yesterday when I watched four of them get out of their brand new Ford F-250 truck, take out their cell phones and head into the Wawa for soda and sandwiches. I long to live such a pure, simple life as the Amish.

Wed, 11/07/2012 - 18:54 | Link to Comment takinthehighway
takinthehighway's picture

Probably Mennonite, not Amish.

Wed, 11/07/2012 - 20:04 | Link to Comment vix is for kids
vix is for kids's picture

Having a beard doesn't make one Amish, B7GR.

Wed, 11/07/2012 - 20:33 | Link to Comment goat
goat's picture

Amish gone bad.  They blew the seed money on hookers and blow.

Wed, 11/07/2012 - 20:54 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Amish gone bad.  They blew the seed money on hookers and blow.

Rug hookers and windmills are well known scourges to the Amish community, grabbing many an Amish man by the beard and refusing to let go.

Wed, 11/07/2012 - 23:23 | Link to Comment blunderdog
blunderdog's picture

Insidiously amusing, sir.  I doff my cap.

Wed, 11/07/2012 - 18:37 | Link to Comment goldfish1
goldfish1's picture

"Who is John Galt?" 

As the plot unfolds, Galt is acknowledged to be a creator, philosopher, and inventor who symbolizes the power and glory of the human mind. He serves as a principled counterpoint to the collectivist social and economic structure depicted in the novel. The depiction portrays a society based on oppressive bureaucratic functionaries and a culture that embraces stifling mediocrity and egalitarianism, which the novel associates with socialistic idealism. - Wiki

Wed, 11/07/2012 - 19:01 | Link to Comment gmrpeabody
gmrpeabody's picture

Let_them_eat_rand would not approve of your post...

But I do.

Wed, 11/07/2012 - 21:07 | Link to Comment Overfed
Overfed's picture

He came through and junked both of ya'! :-D

Wed, 11/07/2012 - 21:38 | Link to Comment DanDaley
DanDaley's picture

Yeah, but the Amish need some artillery.

Wed, 11/07/2012 - 18:07 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Will be bankrupt in 4 years? haha its been bankrupt for the past 100 years

Wed, 11/07/2012 - 19:09 | Link to Comment mr. mirbach
mr. mirbach's picture

Bankrupted-er

 

Wed, 11/07/2012 - 18:08 | Link to Comment buzzsaw99
buzzsaw99's picture

The most dangerous are those people who think they are smarter then they are."

 

more smarter THAN they are?

 

Yeah, I agree, those types are annoying. :roll:

Wed, 11/07/2012 - 18:14 | Link to Comment akak
akak's picture

Yes, your right --- most every one of they're kind are very dangerous.  And not nearly as smart like me.

Wed, 11/07/2012 - 18:14 | Link to Comment buzzsaw99
buzzsaw99's picture

lulz

Wed, 11/07/2012 - 18:40 | Link to Comment Yen Cross
Yen Cross's picture

 You are {very/extremely} smart "akak".  When you use your intelligence to be an ass hole, people cringe.

   Think about it...

Wed, 11/07/2012 - 20:59 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Confucius said, as quoted by Hop Sing, "when one uses his intelligence, assholes cringe."

Much wisdomary insighted.

Wed, 11/07/2012 - 21:00 | Link to Comment Flakmeister
Flakmeister's picture

Dunning-Kruger is a real bitch....

Wed, 11/07/2012 - 21:07 | Link to Comment nmewn
nmewn's picture

Agreed but I would amend it...the bastard of a know nothing bitch.

Wed, 11/07/2012 - 18:10 | Link to Comment Van Halen
Van Halen's picture

"My guess is that Mr. Obama and his close buddies have no idea what they are doing, or else they would not be doing what they have been doing"

My guess is that these people know very well what they are doing. They hate this country, they hate our way of life, and they see us as nothing more than useless eaters designed to generate more wealth and power for themselves. There is no accident that the last four years have been one disaster after another. And now they have won. The next four years are going to be a nightmare for us all. And for letting 1000 of them control 320 million of us, we deserve every minute of it.

Wed, 11/07/2012 - 18:11 | Link to Comment Misean
Misean's picture

They and their bosses know what they are doing...looting and pillaging.

 

Wed, 11/07/2012 - 18:14 | Link to Comment bobnoxy
bobnoxy's picture

But CNBS did a segment showing that under Obama's four years there has been an average of 1,000 new millionaires created per day, and under Bush's eight years there were none, net. 

http://www.cnbc.com/id/49696601

The stock markt is up something like 75% under Obama and was down during Bush's two terms, and not one net private sector job was created under Bush.

And you're bitching now? That's your nightmare?

Wed, 11/07/2012 - 18:20 | Link to Comment Van Halen
Van Halen's picture

Um, why am I bitching? Well, record deficits, record unemployment, record bank failures, record foreclosures, record number of people on food stamps, record spending, dollar devalued, US credit rating downgraded, Benghazi, Fast and Furious, Obamacare, Porkulus, record US troop death toll in Afghanistan - just to get started. But I guess I should be happy because some people were made rich off the system while the rest went down hard. Isn't that the exact opposite of what we were told was going to happen during the first four years of Hope and Changium?

Wed, 11/07/2012 - 18:25 | Link to Comment Zymurguy
Zymurguy's picture

Some people made rich who are at the reigns of the algos and hft machines, meng.  The rest of us, not so much... we're getting poorer by the year.  Plus, we've got 2013 to look forward to... huge "tax" er, fee or huh? increases for the middle class providers (to be consumed by the moochers).

Wed, 11/07/2012 - 18:30 | Link to Comment RSloane
RSloane's picture

Exactly. Perfectly said.

Wed, 11/07/2012 - 18:21 | Link to Comment Zymurguy
Zymurguy's picture

facts from cnbc - you've GOT to be kidding us, right?  Get the fook off this site.

Wed, 11/07/2012 - 18:21 | Link to Comment notadouche
notadouche's picture

How much debt was monetized in a 4 year comparator?  Plus your comparing 2 terms to 1 term.  You have to compare 1st terms against 1st terms to be fair and then 8 years vs 8 years otherwise in typical CNBC fashion intellectual dishonesty reigns supreme.  The book has yet to be written on Obama.   Look at Clinton he looked real good right up to the point that the nasdaq cratered 50% and the dot com era was unravelling and all those jobs created ended up being only temporary along with the "budget surplus"  

Wed, 11/07/2012 - 18:23 | Link to Comment Blankenstein
Blankenstein's picture

bobnoxy

 

"Rah rah rah team blue"  "Go team blue"

 

"The stock markt is up something like 75% under Obama"  

And that is all due to the vibrant economy we have and nothing to do with helicopter Ben.  

Wed, 11/07/2012 - 18:26 | Link to Comment akak
akak's picture

Bobnoxious, at it again.

Wed, 11/07/2012 - 18:38 | Link to Comment RSloane
RSloane's picture

Yup.

Wed, 11/07/2012 - 18:41 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

"But CNBS did a segment showing that under Obama's four years there has been an average of 1,000 new millionaires created per day, and under Bush's eight years there were none, net."

So 365,000 new millionaires per year times 4 years.  Thats almost 1.5 million new millionaires.  I thought the top 1% were married couples making over $250,000 but you are telling me that in 4 years Obama created .5% of new millionaires.  Someone is lying.  Its either CNBC saying that all those millionaires were created, or its the BLS trying to tell us that married couples making over 250k are in the top 1%.  I think its all bullshit.

Wed, 11/07/2012 - 18:47 | Link to Comment Nick Jihad
Nick Jihad's picture

With regard to "new millionaires" - sure, but how many new billionaires were created during that same time in Zimbabwe?

 

Wed, 11/07/2012 - 18:19 | Link to Comment NotApplicable
NotApplicable's picture

One might say we've been running with the devil.

Wed, 11/07/2012 - 18:19 | Link to Comment Zymurguy
Zymurguy's picture

And each new administration/political group has to figure out how to take their share from the masses in a more creative and devious fashion than the previous.

Greed = infinity

Wed, 11/07/2012 - 18:26 | Link to Comment nodhannum
nodhannum's picture

Spot on!  They have every idea as to how to weaken and destroy the country.  Make the country dependent, destroy the currency, V. I. Lenin couldn't have sone it better.

Wed, 11/07/2012 - 18:48 | Link to Comment dexter_morgan
dexter_morgan's picture

His daddy taught him well.

Wed, 11/07/2012 - 18:36 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

"My guess is that these people know very well what they are doing. They hate this country, they hate our way of life, and they see us as nothing more than useless eaters designed to generate more wealth and power for themselves. There is no accident that the last four years have been one disaster after another. And now they have won. The next four years are going to be a nightmare for us all. And for letting 1000 of them control 320 million of us, we deserve every minute of it"

And did you see all the 20 somethings cheering for this garbage with big smiles from ear to ear?  They don't have any clue what they just voted for.  An anal raping of epic proportions. 

Wed, 11/07/2012 - 18:47 | Link to Comment dexter_morgan
dexter_morgan's picture

yep. had one 20 something explain it like this - Obama, big time ass fuck, Romney, big time ass fuck, but with a little vaseline.......

Wed, 11/07/2012 - 18:44 | Link to Comment zerozulu
zerozulu's picture

"They hate this country, they hate our way of life, and they see us as nothing more than useless eaters designed to generate more wealth and power for themselves."

 

I believe that's what is defined as terrorists.

 

Wed, 11/07/2012 - 21:44 | Link to Comment DanDaley
DanDaley's picture

 The next four years are going to be a nightmare for us all.

 

The nightmare continues, that's all.

Wed, 11/07/2012 - 18:09 | Link to Comment pragmatic hobo
pragmatic hobo's picture

obama has to get rid of geithner first and fore-most.

Wed, 11/07/2012 - 18:14 | Link to Comment surf0766
surf0766's picture

How about stop hanging christmas  balls with chairman Mao's pic on them in the white house for starters. Then we will move on to people who can't click through turbo tax

Wed, 11/07/2012 - 18:41 | Link to Comment goldfish1
goldfish1's picture

obama?

obama do what he told mehn.

Wed, 11/07/2012 - 18:09 | Link to Comment Zap Powerz
Zap Powerz's picture

"The US government will be bankrupt after another four years of the same Obama we had for the past four."

WTF?

We are 16 Trillion dollars in debt now.  We are already bankrupt.

Wed, 11/07/2012 - 18:25 | Link to Comment kill switch
kill switch's picture

 We went bankrupt in 1971 when we closed the gold window.....Triffin's Delema

Wed, 11/07/2012 - 19:11 | Link to Comment kill switch
kill switch's picture

With 1 down arrow I feel vindicated, I now know that the DA was someone with an IQ of roooooooom temperature!!!!! Not to understand that the 1971 window close was a catalyzing event is phenomenal

Wed, 11/07/2012 - 18:10 | Link to Comment Zero Govt
Zero Govt's picture

Greece today (chaos), America tomorrow

you order shit (Govt) you eat shit

Stop Paying Tax ...don't finance this shit

Wed, 11/07/2012 - 18:13 | Link to Comment Van Halen
Van Halen's picture

Ann Barnhardt did - and she just lost her bank account, her house is now on the line, and she's probably heading off to jail. She's got the whole thing documented at her site.

Wed, 11/07/2012 - 18:30 | Link to Comment Zero Govt
Zero Govt's picture

Yes Ann is fighting the fight, she's a bit mad (religous) but who cares, on issues that count she's spot on and a fiesty bunny

I'd advise Ann, like Max Keiser with the Bust-JPM, to hold off and just prepare... we must wait for the economy to tank alot more before enough peoples anger reaches boiling and they're ready to revolt

in the meantime we need to reach out on the Zero Tax revolt.. lots of things you can do to reduce taxes in the meantime and withdraw from the Monopolist Matrix of Big Co systems (retail, banking, healthcare etc) and start squeezing the parasites  ...especially small business who pay 70% of taxes and get 0.00% influence in Govt ...that 1% can bring down Govt in a firestorm of epic proportions

Ann hold off honey... support troops are coming, don't get knocked out of the game until we're all ready to slaughter the parasites

Wed, 11/07/2012 - 20:40 | Link to Comment New World Chaos
New World Chaos's picture

Ann Barnhardt has bigger balls than anyone here.  In fact, if we all cut off our genitalia and stuffed them into her elephant scrotum, it would still be wrinkly.  Respect.  A Founding Father of the 2nd Revolution?

Wed, 11/07/2012 - 18:30 | Link to Comment lemonobrien
lemonobrien's picture

how? niggas take it before i even get it.

Wed, 11/07/2012 - 18:49 | Link to Comment Zero Govt
Zero Govt's picture

if you're employed you can't do alot just yet ....but if you're employed in a small biz you can begin the fight of turning your employer around to the Zero Tax revolt

nag him at least once a week, cajole him into getting out of Big Systems (banks etc), taking cash instead of monopoly credit cards etc etc..... preperation adds value, spread the word amoung family and friends (keep pointing out Govt wrecking country after country), its not just about the final strike

Wed, 11/07/2012 - 19:15 | Link to Comment mr. mirbach
mr. mirbach's picture

Got a link to the zero tax revolt?

Wed, 11/07/2012 - 18:10 | Link to Comment e-man
e-man's picture

He'll issue an executive order that all the king's horses and all the king's men put our economy back together.  Easy fix. 

Wed, 11/07/2012 - 18:14 | Link to Comment Van Halen
Van Halen's picture

Wait... I thought Obama DID fix everything. Isn't that why he won another four years? To enact  more of the fiscally-responsible policies that we saw the last four years?

Wed, 11/07/2012 - 18:10 | Link to Comment fuu
fuu's picture

Release the Gimperman.

Wed, 11/07/2012 - 18:11 | Link to Comment Yen Cross
Yen Cross's picture

 "Trim Tabs" was in the  [$] from the start? NO?  We'll get em next time Chuck.

 

Wed, 11/07/2012 - 18:17 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Bidershart Alert!

Wed, 11/07/2012 - 18:11 | Link to Comment Van Halen
Van Halen's picture

Hey everyone! Let's have some fun and bet back and forth while America, er, I mean, Rome burns! I'll start!

I bet that by the end of Obama's next four years, we're 25 trillion in debt!

Wed, 11/07/2012 - 18:13 | Link to Comment Silverballs
Silverballs's picture

Actually mr biderman everything is going according to plan the Anglo-American establishment are behind in some areas they'll get sooner or later don't you worry.. It's like George carlin said its a big club and you ain't in it you and I are not in the big club.. It's great phrase bc it sums up most of society works

Wed, 11/07/2012 - 18:15 | Link to Comment Zap Powerz
Zap Powerz's picture

Mr. Obama is not the problem.  He is a symptom of a malignant cancer that has been spreading throughout the American culture and political system for the past 100 years.

Instead of treating the symptoms, we need to treat the disease if we are to get better.

Wed, 11/07/2012 - 18:34 | Link to Comment RSloane
RSloane's picture

So Obama's a giant tumor. Yeah, I can see that.

Wed, 11/07/2012 - 18:47 | Link to Comment zerozulu
zerozulu's picture

How dare you call leader of the free world a tumor.

Wed, 11/07/2012 - 18:16 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Da Beedermon mon!

LOL....Two Buck Chuck at it again.

Wed, 11/07/2012 - 18:17 | Link to Comment realtick
realtick's picture

Waves At New York Harbor Entrance now at 14 feet

http://chartistfriendfrompittsburgh.blogspot.com/2012/11/back-to-buoy-da...

Wed, 11/07/2012 - 18:17 | Link to Comment MillionDollarBogus_
MillionDollarBogus_'s picture

Mr. Durden,

I have to disagree. 

Obama hired Larry Summers as director of the White House National Economic Council.

Summers understands quite well how we got to this economic situation. 

Wed, 11/07/2012 - 18:22 | Link to Comment semperfi
semperfi's picture

"My guess is that Mr. Obama and his close buddies have no idea what they are doing"

They know exactly what they are doing. They are deliberately destroying America to turn it into a socialist state.  Its working very well.  They are very successful.  Yesterday was our last chance to avoid descending into permanent Socialism.  We failed.  Welcome to the United Socialist States of America.

Thu, 11/08/2012 - 11:45 | Link to Comment jtg
jtg's picture

Right, the election wasn't about electing Romney, it was about preventing or not preventing Socialism from becoming to deeply embedded to able to extract it, without civil war. That ship has sailed. The multitude of fools have kept the fool on top (great quote, Youngman). The US is now in the hands of its fate.

Wed, 11/07/2012 - 18:34 | Link to Comment fijisailor
fijisailor's picture

Yea invest with trimtabs.  He'll handle your investments the same way he organized that speech.  Doesn't exactly instill confidence huh?

Wed, 11/07/2012 - 19:34 | Link to Comment Real Estate Geek
Real Estate Geek's picture

Thanks!  For a minute there I was focusing on his message.  Now go back to Toastmasters.

Wed, 11/07/2012 - 18:37 | Link to Comment yogibear
yogibear's picture

Bernanke can print up another $8 trillion  and buy US debt and it's Free stuff for everyone.

Until nobody accepts the US dollar.

Free Obama phone,

Free rent (Section 8), 

SNAP card, 

Free education. 

Free medical

Free money.

 

 

 

 

Wed, 11/07/2012 - 18:50 | Link to Comment goldfish1
goldfish1's picture

some more, please sir.

Wed, 11/07/2012 - 19:29 | Link to Comment Zer0head
Zer0head's picture

before you get more first you must demonstrate you qualify

http://obamaphone.net/who-qualifies-for-an-obama-phone

Wed, 11/07/2012 - 18:39 | Link to Comment dexter_morgan
dexter_morgan's picture

BOHCFMDJA

Wed, 11/07/2012 - 18:42 | Link to Comment billwilson
billwilson's picture

Bush was the worst .... bar none!

You can not recover from going from a surplus to a massive deficit while starting 2 wars and giving everyone tax cuts. Esssentially Bush fucked the country for years to come. No one, even Reagan, could fix this without massive pain ... and that does not happen in a democracy without a crisis ... and because the US $ is the reserve currency the crisis will happen way too late.

Bush and Greenspan should both be in jail.

 

Wed, 11/07/2012 - 19:12 | Link to Comment RSloane
RSloane's picture

Yeah we get it, Obama is responsible for nothing. If you're implying he's irresponsible, I agree with you.

Wed, 11/07/2012 - 19:17 | Link to Comment tsuki
tsuki's picture

I don't think that is what he was saying.  Obama is responsible for the last 4 years, but that is not where the problem started. 

Wed, 11/07/2012 - 20:01 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

The problems started before Bush. He was a doofus for sure. But Obama has doubled down on everything Bush stood for. Tell me one thing that differentiates Obama from Bush. Obama is Bush times 4 and you liberals all love Obama.

Wed, 11/07/2012 - 20:06 | Link to Comment RSloane
RSloane's picture

What I got from his post is Buuuuuush. I thought Bush should have been impeached and I can honestly say he is the only politician I've ever hated. However, that does not absolve Obama from taking responsibility for things he did have control over during his presidency. I don't want to spend another four years listening to dipshits making one excuse after another and ending the litany of lame with Buuuuuush!

Thu, 11/08/2012 - 11:33 | Link to Comment jtg
jtg's picture

Does anyone here remember that Prez Johnson put the US on the Guns and Butter program, that led to Nixon pulling Gold redemption, that led to greater and greater monetization? All this starts in the 1960's. Obama is the last act, on steroids, soon to blow up.

Wed, 11/07/2012 - 22:42 | Link to Comment Blankenstein
Blankenstein's picture

I wish people would stop trying to perpetuate this myth.  There was never a surplus under Clinton.  You can see this in the debt tables from the Treasury.  The debt increased every year under Clinton, though the deficit was relatively small, "only" 18 billion, in fiscal year 2000.  The last time the national debt decreased was from 1950 to 1951.

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

Wed, 11/07/2012 - 18:47 | Link to Comment kill switch
kill switch's picture

This  caller has his shit togeather

Fuck Rush,,, But listen to this caller,,,,this guy is inside, great stuff

http://www.youtube.com/watch?v=lljKmmZyCiw&feature=player_embedded

 

Obama is a coward asshole!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Wed, 11/07/2012 - 18:53 | Link to Comment Abednego
Abednego's picture

I would once love to listen to commentary or read commentary by an unbiased observer who took into account the past 15 years of economics before spewing partisan nonsense.  Tiresome. 

Wed, 11/07/2012 - 20:11 | Link to Comment RSloane
RSloane's picture

Then you start. Post your unbiased observations of the past 15 years of economics.

Wed, 11/07/2012 - 18:56 | Link to Comment Shizzmoney
Shizzmoney's picture

As if the OTHER guy would of cut the deficit.

Biderman does have two things right here: A) take home pay is going down, which will drag on the economy sicne it is consumer based and B) Obama's "buddies", aka JPM and Goldman, are the ones running the show, not him.  They ran the show during the Clinton years...which produced fail.  They ran the show during the Bush years....which produced fail.  And they run things now.....which has produced....fail.

It is the FED and the TBTF BANKS who occupy the NY Fed Reserve that want our pay to go down, our rights to be dismantled......not the politicans (b/c unlike the Fed, they actually have to answer to people). 

The politicians just sign the pieces of paper the bankers tell them to (at gunpoint).

Wed, 11/07/2012 - 19:10 | Link to Comment straightershooter
straightershooter's picture

Time for Zero to sponsor a DEfICIT prediction game:

O8= D_xx_.x_x_x_ trillion

Where O8= 8 years of OBAMA as President;

D represents federal deficit

 

fill out the blank.  such as 8.253, or 10.125 or whatever figure you think might be ranked up by Obama under his reign

 

OK. My idea, or I would volunteer first and venture out at, ( 5 trillion for the first half, the next half doesn't seem to be better off than the first, no more stimulation, running out of bullter, whatever,  so....) 11.111 trillion Deficit under Obama rule.

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