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House Republicans Fold
Presented with little comment (via Bloomberg):
- *HOUSE REPUBLICANS ABANDON EFFORT TO ADD SPENDING CUTS TO BILL
It appears everyone grows tired of the pantomime, even the main actors. Well that was fun while it lasted...
Is this how Boehner feels?
And is Cantor warming up his gavel?
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'Permanent' is just one 'legislation' away from being undone.
IIRC, payroll witholding - those convenient deductions from one's paycheck - was "temporary". Just 'till we won the war. That war being WW2.
Taxes actually didn't permanently go down for anyone. If spending goes up or even stays the same that needs to be paid. If not through honest taxation, then through dishonest hidden taxation i.e. inflation.
this is a huge victory for the Republicans (and 99% of US taxpayers)
Victory for 99% US taxpayers? Are you fucking kidding me?
I'm sorry Sir or Madam, this Victory party is reserved for the Fed Gov't and members of the Ole Boys' Club. Taxpayers are sticly forbidden from this event.
They've reached a deal!! Rise above!! Fuck off.
You Watch CNBS Tomorrow
They'll be yellin' and a screamin' about how fucking wonderful this is, the World Has Been Saved, and much by their Own, Very Own Hand Helping Rise Above, Marshaling Public Opinion and whateverthefuckelse self aggrandizement they can muster without giggling...
Arraghhhhhhhhhhhh
More "mustard seeds"!
"Green Shoots"!
"Recovery"!
"Goldilocks Economy"!
"King Dollar"!
"Booyah"!
USAab-
Spending Cuts? WE don't need no stinking Spending Cuts!
Oh what a shock...another vote that was gonna bring the system down....but did not. Let's see: Greek parlement, Greek parliment, Slovak legislature, Finnish legislature, Greek parliment, Irish referendum, German High Court......now the US House Republicans.
Banksters win again.
"We're all Greeks Now!"
Who is John Greek?
So we all have hairy backs and greasy asses and insist on ass banging our wives?
Yup.. You can read ZH from now until the one Global Dollar is introduced and what you said above is all anyone needs to ever know.
They own the media
They craft public opinion (with Kimye baby distractions between)
They polarize left and rightards to ensure the true enemy is never discovered.
They own the shadows and purchase all opposition and have the means to in the court of public opinion politically assassinate with their dollars anyone or group which nears the true masters of puppets.
It is simply a shared dictatorship. Remember..tyranny is ancient and freedom barely made it to 200 years of age because of a piece of paper because of the constitution.
The evil of men is coming..it is marching as always throughout history but the constitution only slowed them down. Now that it has been deviated from first gradually and now outright they will go all in. Such is the perpetual battle between freedom and slavery indentured, physical or economic.
Imagine... It only took 60 years for socialism to cease being a dirty word, for the U.S. citizenry to forget we had Congress declare war for a reason . They will print to slow down the repercussions and hope they have shuffled off their mortal coils before the pipers are paid.
Forget Oppenheimer and remember Bernanke and his Central Banker globalists..." I am become print..the destroyer of all currencies."
With this technological overlay of the new coming coordinated tyranny of " good intentions" they will sell as a bill of goods it may be 400- 2000 years before human kind reverses the scales back toward liberty.
Thomas Jefferson was right.." from time to time". All because people cannot adhere to the rights of the individual.
That is fucking beautiful, man,
likely one of the best comments ever on ZH
fucking beautiful indeed
Awesome, JM.
No balls, so I'll keep on stackin...and Benny is still my bitch ;-)
Sell in january and masturbate till may
Boner certainly lost all the marbles on this one. Bets as to date of his dethronement.
He better be done.
He's a spineless pussy leading a party of mostly spineless pussies......he'll survive.
He's a cry baby.
We're so blessed that the statists with Rs behind their names are holding their own against the statists with Ds.
Republican party self implodes... more than it already has...
Bring on Bill O'Riley to explain that the reason the Repubs lose an election is because whites are a smaller percentage of the american voting populace than ever before... sure, that explains it Bill-Doe
Sell the news.
What is another $4 T to the deficit? The insidious invisible inflation tax is the most regressive tax of all.
Hey, it's only Fiat!
Print From Home!
This new manual by B. Shalom teaches you how to make your own fiat!
No more trips to the ATM or bank!
Quit your jobs (if you have one)!
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This is all it takes to be a Congressional Representative:
http://www.youtube.com/watch?v=szwclmmKwLg
It's not over, they still have to vote on it. Wouldn't surprise me to see them kill it.
This is for you.
http://www.flickr.com/photos/forthisiwenttocollege/2309072361/
LOL +1
Too funny. But seriously, perhaps they didn't want to send an amended budget back, because that would keep it alive. There is a possibility, though small, they just want to vote it down. Why not? I know it's a long shot, but would anything surprise you at this point? After all the deal, no deal, deal, no deal, I won't believe anything until it is signed.
Jesus Fucking Christ.
OK, I give, I'm a retard.
It'll pass with more than 400+ affirmative votes. Watch.
408 to be exact. Conservatism and optimism are officially dead. That's what I get for a moment of weakness. At least I can get back to my cynical self now. It's all over but the crying.
It's ok RC. I welcome any sliver of optimism here. I can see you are holding on to a sliver of hope that conservatism is not dead. I'm afraid this will be the last nail in the coffin though.
Gawd. Couldn't even hold out 24 hours.
Obama's presidency has gone quite well i'd say, I get free medical marijuana and valium and collect a nice 40,000$ in benefits while all you suckers are busting your ass for life that will ultimately end with the blow out of the world. Join the party, stop fighting your desire
Your right all you had to give up was your soul and self esteem. Now leave us alone since you are unworthy of our time
Any doubt about the Republican Party being firm about spending cuts has now been removed. Spineless, cohensionless, and fearful sums it up the philosophy of that party. They own this tax increase, with little spending reductions (cut is too stong of a word). Democrats have man handled the Republicans into submission. What's the difference between the parties? They are now both tax and spend.
Party on markets. Tax increases, $85 billion/month free money from the FED, continued reckless federal government spending, nothing but awesomeness for the markets. Welcome to the new Amerika.
Bukkake theature and the tax payers are the bitch.
Bukkake theater. Hahahhaa. ohhh boy. Man. You Son ova gun. Sadly the people are the ones getting bukkakied at the theater. I fuckin love it. My children are going to love growing up in this fucking nightmare when I have them. hahaha. I'm drunk. It's New Years!!
The total bs in DC is getting tiresome. I have kids and I am told there is a grandkid in a cooker. Hopefully, I get to shield them from this grabass bs. One of them has the message and has the .223 ready.
I felt like this on election night. Why do any of us vote?
More like why do so few?
I gave up voting after 2010.
Fuck it; I will NOT give my endorsement, and help lend legimitacy, to a hopelessly corrupt and co-opted meaningless farce. My vote would have meant as much, and mattered as much, in the old Soviet Union.
Which reminds me of the phrase: House Wives fold.
You know... when they sort their laundry and stuff like that. Or do their sewing. Probably on some sunny winter day, somewhere in a bright warm sunroom, where children play. I think I read it in "Doorway" writte by Simon Unwin.
Buy Gold. Buy Silver.
I'm an idiot. For few days since the repubs failed plan B, I really really really thought that there were ...............conservatives.......left in USA.
I was so idiotically wrong. No conservatives left in USA. Good luck with CUBANIZATION. You voted for it.
Now you get what you paid for.
There are still some in the USA. There just aren't any in DC.
http://dailycaller.com/2013/01/01/conservatives-bill-kristol-brit-hume-and-hugh-hewitt-want-house-gop-to-back-senate-bill/
Read this. These people call themselves "conservatives". That's why I quit voting at all for few years already in Canada. The so called "conservatives" took power and moved to the left.
Thanks for the read, but that's pathetic. Calling and being being two different things. Remember, these guys are the elitists, also called by me as either RINO's or traitors.
Better hope you have a governor with a backbone for the state you live in to survive
I heard Grover Norquist is OK with all this.
Did you know that if you laid 16 trillion dollar bills end to end you could reach the moon 3200 times. You could also cover that distance in less than an hour and a half at warp 1.
When is the next ZH post that the 'market' is going to crash?
Let's do it all over again then keep acting surprised.
I love that shit.
Have you watched the old Flash Gordon serials from the 1930s?
Flash faced imminent death every episode.
Every. Fucking. One.
Hmmmmm .... and just where is Flash Gordon today?
Flash has now retired from movies, forming with his wife Ramona, Inner Cordon Inc., a firm that specialises in corporate security and hostage extraction.
edit: Buster Crabbe, however, died in 1983.
The hair on my knuckles grew an inch just by reading that. I raise my sloped brow in awe and how weird that is.
Easy...
My mom said I'd get hair on my knuckles by.....
Don't get me involved there, CPL....
And you were trying to pick me up this morning.
And I think it was you blathering on about penises the other day.
Get a grip.
I can't feel anything through the hair.
I think his grip is the root of the problem.
Actually, blathering on about penises is more productive and a hell of a lot more fun than Congress.
For What It's Worth.
http://www.youtube.com/watch?v=f5M_Ttstbgs
Stop children and look around. (Something's happening here. What it is isn't exactly clear.
Buffalo Springfield -
everybody look what's goin down...
You ever read the Dave's Web story about Laurel Canyon and the birth of the hippie culture? A whole mess of those characters had MIC connections.
You can find the story here, just below the Wag the Moondoggie one. ;p
full title:
Inside The LC The Strange but Mostly True Story of Laurel Canyon and the Birth of the Hippie GenerationOh well, I knew it was just a game anyway. Sucks to get confirmation though.
So much for principle.
Real will assert itself at some point.....Oh but the damage in the mean time will be truly sick.
The RINO's have had their horn cutoff.
lol Didn't know they had one left. Thought it had long been sawed off, carted off by lobbyists, ground into dust and sold to China for erotic enhancement purposes.
OT but wow:
One of the main provisions of the new immigration rules in France is the reduction of unemployment benefits. New rules will directly affect many of the immigrants who do not want to be of real assistance to the country and whose main goal is the existence at the expense of French taxpayers. Now immigrants who are EU citizens receive an allowance of 2,000 euros per adult and 1,000 euros per child.
Under the new policy, according to Valls, the payments will be reduced to 500 and 200 euros, respectively. Manuel Valls said that the previous immigration policy did not lead to the desired effect, and the existing outreach programs for immigrants do not work as they were expected to, therefore, the rules must be changed. If this is not done, the costs for the maintenance of migrants now paid by the French Treasury will continue to devastate the economy of France that is already suffering from the crisis caused by international factors.
God bless Tiny Tim and Obama phones for everyone. Good night.
More freebies to come. Food stamps blowing past 50 million soon.
This is the end of the Republican party. The veil is off and they are no different than Reid and Pelosi's party.
The only hope and it's minor is that the Tea party emerges as a conservative opposition to the Democrats. But make no mistake the Republicans are done if they follow through on this bill. I will never vote for these less than vermin again and I've voted Republican my entire life.
good riddance. They are a bunch of crony capitallist fascist warmongers --who have given up liberty and virtue for the safety of a depraved government that protects them from imaginary monsters. Their followers are members of a very warped cult -they are sick-mass hysteria. We need a new party. We have lost our collective soul. Americans are very, very sick. I don't know what the cure is -other than to pull the plug, smash the matrix and hope for the best.
Here's the brain trust of that party of which you speak:
http://mikk2.files.wordpress.com/2008/05/vanity-fair-mccain-lieberman-gr...
And you really believed there was a difference between the two before?
They are both totally corrupt - the only difference is to which special interest the party is beholden to.. (i.e. some special interests favour one party over the other with their bribes)
I was a lifer too, but I quit before this last election. I could already see the writing on the wall.
Couldn't agree more. After the election, I changed my party registration to Independent. I knew after the election we were going to be in for generations of essentially one party rule. After the 2014 congressional elections which will be a blowout for the dems, the second amendment will be next to go. Thanks G_d I have a foreign born wife and have had a "Plan B" for years. I don't get upset at or argue with folks who are leftists anymore. The Rubicon has been cross, it is the end of the republic. Time to find a lifeboat folks. I feel sorry for the kids who haven't had a say as of yet but everyone needs to have a plan B ready to go at a moments notice.
They won't need the 2014 elections to go after repeal of the 2nd Amendment ... the way the Dems consistently roll the Repubes, the 2nd Amendmendment is already toast.
how didn't everyone on here already not know that the two parties are the same. Why would anyone be surpised by this decision.
Well Hell, what the fuck did you guys expect? The Congress Critters are tired, the Dems promised the Repugs a DC whore, (except for Barney, he gets a dick smoker), and a bottle of cheap whiskey if they just went along for 2 more months. As the eternal optimist, I think it won't be long till me and ole Mossy, as in Mossberg, get better aquainted. <sarcasm @ it's best>
Bohner"s boner went limp. Again........
The terrorists have won.
I'll probably have to (reluctantly) go long tomorrow. Yuck.
are you sure? what did the market do 10 minutes after TARP passed? Could history repeat itself?
Bloated government out of control with no cuts and More than 80 percent of households with incomes between $50,000 and $200,000 wil pay higher taxes, with an average increaseof $1,635, as the 2 percent payroll tax cut, enacted during the economic slowdown, is being allowed to expire as of yesterday. This is obviously bad for the economy and will result in a recession, especially after the US is downgraded. I think after the initial pump, the market sells off. This is about the worst possible, outcome. Going off the cliff -permanantly would have achieved needed results our gutless politicians are unable to provide. In the real world, with free markets, the Dow would crash 1000 points on such a result. Eventually we will pay -dearly.
Repubs are getting the blame still in the House right now. Its pretty embarrasing. Watch this live its pretty sad for the Grand ole party. http://houselive.gov/
They probably just gave the Dems the 2016 election.
By 2016 with the current scorched earth policies there wont be anything left to win since states will be leaving the union to join the confederalcy
I disagree. This probably won't even resolve in our lifetimes. This shit can go on a long time (see Japan). Rules will change mid-game and that'll buy everyone a few decades.
You're assuming there will be a 2016 election.
He assumed there was a 2012 election. And 2010, 2008, 2006, 2004...
Voting is far too important to be left up to the people.
Thanks for the link.
Deeply disappointed. Only two Nay votes so far, and they are from Democrats?
EDIT - Oh, that vote was to reconsider. So, the debate goes on. Lots of oratory. Flowery prose now.
Fuck em all. Time to Galt I guess.
http://oi50.tinypic.com/2jseuu.jpg
Dear John:
About that appointment I promised you when you are replaced as house leader.... +100 bro, you are the best - name it and it is yours not only do we get this fiscal shit handled but you managed to castrate the Teeee Party
Luv
O
We can thank rigged voting for the worst congress ever. And no the answer is not "don't vote" because then it's easy for them to get who they want in with little resistance and it's harder to say it was rigged. The rigged system needs lots of legal challenges for one thing.
Every state but Delaware passed laws making taking a picture of the voting machines a crime. This is because people were taking pictures of themselves standing next to the machines displaying their votes then uploading them where meta data can be used to positively identify the individual, serving as a check on the rigged system. The excuse for the law is that people could be coerced to prove they voted a certain way, which is ridiculous because the machines can be changed before pulling the handle. The psychological coercion scenario is such a dumb hypothetical anyway. If I were a lawyer I would challenge it to the Supreme Court.
It boggles the mind the dysfunction all round. The US needs to reset entirely. And I have a son who's headed to a top medical school late next summer. I hope to God he does not go in to debt to pay for it all, and let's the Gubmint pay for it all, for service as a doc afterwards for a while. No problem with that. Thanks to my gold, I am debt free and no house mortgage, too.
Bullish on Guillotines
Humour a limey for a second, but who the hell is buying US (or UK for that matter) gilts these days (excluding BB "The King" and other ink magnates)?
People who's toilets are already blocked up?
From the wire:
HOUSE DELAYS CLIFF VOTE.
Apparnetly they are far short of the votes needed, even with arm-twisting.
Also from wires:
Reports the House will have numbers to pass Senate plan
This WILL pass, look at the DXY, just collpased. ZH?
All bills to raise revenue must originate in the House of Representatives...Article One Section Seven.
I declare this charade illegitimate.
Wow, the GOP caves on a tax-hike with zero spending restraint? Didn't see that coming. My faith in humanity is lost.
Next thing you're going to tell me is that WWE is rigged.
Yeah, and the Easter Bunny hides its eggs.....you would TOO if YOU had sex with a CHICKEN!
you dumb ass teee party neophytes
you just got boned
you caved on the debt ceiling a year ago and continued to follow your leader to the cliff, he stepped out of the way and over you went like a herd of dumb ass Buffalo and now you are an isolated group of radicals
dumb emeffers you had the chance and you squandered it
Apparently there aren't votes for amending the bill, and there aren't votes to pass the bill. They are FAR short of votes for either scenario. It looks like the strategy is to bring the whole mess--which was supposed to be dealt with two months from now--forward right now. There simply wasn't any support for this two-month delay. If all business is to be stopped, the sentiment is to stop it now. Boehner's strategy was correct: force all issues to the fore. And when he did, there was no support for the bill no support for an amended bill, and no support for any bill. House will probably go out of session now.
Apparently there aren't votes for amending the bill, and there aren't votes to pass the bill. They are FAR short of votes for either scenario. It looks like the strategy is to bring the whole mess--which was supposed to be dealt with two months from now--forward right now. There simply wasn't any support for this two-month delay. If all business is to be stopped, the sentiment is to stop it now. Boehner's strategy was correct: force all issues to the fore. And when he did, there was no support for the bill no support for an amended bill, and no support for any bill. House will probably go out of session now.
more than enough to pass it where are you getting your facts?
Politico and CNN, where are you getting yours. And what vote count do you have. What does your source say about the reason for the delay?
Politico and CNN LOL
link?
here's one
http://www.washingtonpost.com/business/economy/house-members-meet-to-rev...
The worst thing that can happen is to fix all of these problems by a grand compromise -- giving Obama what he wants and the Pentagon supporters what they want...
thereby raising taxes on lots of Americans hence averting the cliff.
Wall Street is happy; the socialists are happy; the military-industrial-complex is happy. Only America's producers have been victimized.
Let the economy go into freefall and let Obama, Reid and Pelosi put Humpty Dumpty back together again -- if they can.
Damn they didnt even have the balls to put in the GAO's reccomendations to eliminate duplicative programs? what a bunch of fucking loosers (both parties). Time for a 3rd party yet people?
Who benefits from Business as usual in Washington? Seriously, who really, really benefits? Since the crash of 2008, who has benefited and who has gotten crushed? Only when we know who and what entities have piled up more and more power and more and more wealth, while we consider who has falling or stagnant wages and less and less % of income, will we know WHY both parties want to keep this game unchanged and going strong.
The constant hoax of a struggle between left and right in Washington is a Roman Circus put on for the pesants. Come on, vast sums of bribe money is paid out every year to congress. It ain't coming from most of us, is it? The system is fixed, it has been purchased to produce a result that can be harvasted by special interests for maximum profit.
Who will rule the New Europe and the New America? To paraphrase Paul Craig Roberts: Obviously, the private TBTF European/ US banks and Goldman Sachs.
While America’s standard of living has plummeted; the bankers’ standard of living has soared.
The financial sector’s profits as a percentage of all domestic corporate profits reached 45.80% in December 2001, dropped to -13% in September 2008, were returned to 35.28% by December 2010 on the backs of taxpayers and trapped investors, and now, some are saying, are back to 45%. As TruthInSunshine wrote, the international bankers “are sucking the life out...of the purchasing power of any formerly wide and deep 'middle class.’”
BUT... the future is quite a different matter. As the European crisis clearly shows, the banks have not been able to finalize their unconditional control of the European Union. And the restless European cultures so long blanketed by tyranny threaten to split the bankers’ rule and regain citizen control of their nations.
As for America, as this fraudulent thing called “Democracy” destroys the potential of all men,” as this crisis of socialism grows, so does the sale of guns.
as this fraudulent thing called “Democracy” destroys the potential of all men...
Now what could be more truly un american than that! Since the US became a nation from coast to coast.
So, the show is over.
They followed the script they were given by the true rulers.
Everything seems to be going along as TPTB had planned.
No surprise at all - I just can't believe that most people fall for this shit.
This crisis is so yesterday. Uh-huh. On to the next crisis, HITTING THE DEBT CEILING. Look for 24 hour hysteria from the yapping poodles of the Fourth Estate until there is a new crisis.
We need a regime change.
The fiscal cliff negotiations, if they were anything, involved spending cuts and possible tax increases in order to achieve the monetary target. Obama, of course, wanted fewer spending cuts and lots of heavy taxes, at least down to a $250,000 income.
The Senate agreement doesn’t mention spending cuts, an Obama victory.
The only leverage the Republicans have to achieve substantial spending cuts is to hold out on all tax increases. To give away that leverage means they should return home and let the Democrats run the country for four more years. At least we could save the office and salary outlays for any Republican congressman. Without the spending cuts, the Republicans should say they cannot agree to any tax increases. If they don't do that, they don't have a party; they just have a Democrat Party.
If it gets much worse, the people who pay the taxes are going to have to take the government back into their own hands and fix the problem.
"God is our refuge and strength, a very present help in trouble. Therefore we will not fear, though the earth should change and though the mountains slip into the heart of the sea; though its waters roar and foam, though the mountains quake at its swelling pride. Selah. The LORD of hosts is with us; the God of Jacob is our stronghold".. Selah. Psalm 46:1-3,7
Spirituality is the answer folks, the fall of America scares me too, but all this will pass.
Could be time to short USTs? Charts looking a bit weak. I suspect the Asians who bankroll US profligacy may be not too impressed by this result.
Why?
The Bernak's gonna buy 'em all....
There's good demand.
Great demand!
The U.S. has ONE card available to play, that NO-ONE believes will happen: outright default.
This far down the rabbit hole, anything can happen.
Shark attack on the rules.
Well, a vote will probably be occurring within the next few minutes.
Track the suspense with this link: http://clerk.house.gov/floorsummary/floor.aspx
I hope the HR is defeated. I'm sure that there are some newly elected reps looking to keep their jobs. Both senators from our state voted Yea. Asswipes - Kay "Bailout" Hutchison and John "Cornhole" Cornym sold out as expected.
The next repuke rollover will be on guns. All these pigs need run out of the country.
When do "Market" futures open again? Rhino horns all around, shorts on a fat stick for breakfast?
we are all greeks now
SSNewYear
Didn't know my ex-wife was in Congress.
$41.00 spending for every dollar of income.
Yep, that's her !!
Abandon efforts?
Republicrats fold like they did in the bailouts?
The Ponzi rolls on! All hail the kleptoligarchy!
okay republican house, just get on all fours and take it in the ass doggie-style in front of the whole world, while that laughing jackass in the offal office has a big grin on his face posted on drudge. no balls gutless assholes.
Perhaps a bit of sanity/truth here lads;
1) The biggest criminals (also fake patriots) in the history of the nation, were:
GW Bushkoff and his VP Chaneykoff! They and their military industrial complex, phama complex, prison complex, and lobby theivs... false (illegal) wars and dumbed down rapture followers.... no global warming eh!
No money for even one friggin high speed train..... because of costly wars and wasteful contractors = profits for Chenneeekoff and Bushkoff jr.!
The republicans are traitors... with one goal = to collapse the US economy in an on going asset grab! make wrkers grovel for any kind of work with zero benefits.. long hours and shitty roads!
Today's Republicans are not really conservative. Many (not all go along with the current party) are just stupid, rich sheep when it comes to the truth.
No go back to your master sheep programmer - Rush Dumbball!
And the night is complete with a visit from Al Sharpton !
I'm sure you believe there's a difference between the two parties. Just a small reminder that they are all criminal traitors.
http://solari.com/blog/madeleine-albright-says-500000-dead-iraqi-childre...
That topic was not included in his blogs points for the evening. Al is waiting further instruction from the teleprompter.
You had to give yourself a green arrow. Too funny.
Hell, yeah! Go get 'em, Andy!
Remember, there still aren't any bagholders in the market. A couple day traders can't hold the whole thing. They will ram the market higher trying to get the little people to invest again.
The primaries and the Fed are holding everything, if the market falls one of them has to hold the bag.
The past four years have been like Clinton 96-99. All news was good news. Underneath the fruit was rotten but it had a shiny coat. All the growth was fake, and the fundamental strucute of the economy was shattered. The banksters won in 1996, the stock market became the economy.
The market may shoot up again in 2013, just like the past four years, following the same pattern. The problem is the underlying economy will follow the same pattern as well. 2013 may end with 125 million on food stamps and a labor force participation under 50%.
I'm sure somebody in Germany and some people in Zimbabwe were very happy to see their personal fortune in paper swell to unbelievable levels, without realizing it meant the end of thierway of life very soon.
Correct.
Just the primary dealers and they all all all all all of them INSOLVENT.
Obama will make the margin call onto them, he will. If not, on his own will, crude oil price will force his hand, same as George Bush in 2008.
http://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic
There's gonna be roughly a 1.5% hit to the economy this year with the end of the payroll tax cut and these tax increases. So, I think this year and next will be slightly worse than 2011-12. But, the real deal is in 2015 when the Fed starts to shrink its balance sheet. Thats when things will get really interesting. My goal is to be as debt free as possible (virtually impossible to be completely debt free with our student loans) and to has as much cash on hand as possible. IMO, the role the Fed's QE programs have played in this "recovery" has been greatly underestimated.
The Fed will never shrink their balance sheet. We have already pasted the point of no return.
In principle I agree. But, I think there will be some pull back. Like a trillion or so. It will never mean revert.
HAHAHAHAHA I mean, it wasn't like they were going to put in any spending cuts that would make a dent anyway.
Whenever they talk about cuts, its always BS like "1 trillion over the next 50 years" and then they never even honor the pitiful amount they propose.
Yeah no kidding. And O is polishing up his speech right now that claims he gave us all a tax cut, which technically he did, since taxes went up at 12:01 this morning. "Fix" the fiscal cliff and Voilà!: taxes come back down.... Or that's the sickening spin we get to hear from our great 'leader' when the smoke clears from all this. They don't seem to get the fact that the cliff is the solution, not the problem.
Mconnell and Boners rino horns are missing.. lol
just tuned in to the live feed now - some representative was waving his fist saying that people need their Unemployment Checks NOW
http://www.bloomberg.com/live-stream/
They need their Obama phones and free stuff for illegals too.