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"Fair And Balanced"... And Benefiting Just 20% Of Americans
In 28 seconds, Bloomberg TV's Scarlet Fu explains who really benefits from the 'deal' and Bernanke's ongoing 'wealth effect' policy. Simply put, taxes on 77% of Americans go up... and 20% benefit. "Fair-and-balanced" indeed.
And Blackrock's Larry Fink summed it all up nicely from about 1:40 in this clip: "The American People are the Big Losers In The Cliff Deal"
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Did anyone here really expect a deal here that would have been beneficial?
Uh, beneficial to whom?
Isn't Larry Fink in the running to be next Treasury Secretary for Obama? Well, maybe not now for speaking truthiness...
DUH, most of us are losers in this.
i am starting to think with all the ridicule and genuine hatred of each other,,,,although i know they are the same team, ... families fight always,... neighbors fight always, ...marriage divorce alot....so same team or not this is going to get good.....the egos of these guys is their kryptnite....you call them pussies long enough and maybe just maybe, the washington generals will demand to win one...
D from GSC, is that you?
Brokers?
Can I asked to be paid in DOW bucks?
Then I also qualify for 15% rate.
Larry Fink, a guy who said "markets like totalitarianism" & also happens to be a pathological liar who works for... Blackrock.
There's a trustworthy source for quotes! The fact that Fink is down on it makes me wonder whether the deal was actually good.
Maybe zh should contact John Thain to definitively establish whether the fiscal cliff 'deal' was a good or bad one for Americans.
Did anyone here really expect a deal here that would have been beneficial?
Well, of course! Our overlords are chosen by the immaculate election process, guaranteeing that they are the finest humans in the world.
And our system is magic - it's divine structure guarantees that even monkeys on crack would deliver no less that liberty and justice for all!
/sarc
First Drudge - now CNBC. ZH getting props from the bobbleheads.
In the past year (not today) I have heard Rush Limbaugh mention Zero Hedge three times.
peak ZeroHedge?
My friend in the garment industry is expecting a fine year in 2013. He has orders for thousands of white flags from GOP congressmen.
Why do you further empower these puppets by pretending their actions have meaning? You think you're making a funny, yet all you're doing is telling us that the joke's on you.
Because you obviously don't get it.
I beg of you, step away from the Kool-Aid.
Well... maybe this guy? http://www.youtube.com/watch?v=16FdJrrAWSo
But ... our fearless leaders say they had to do it or ... gosh ... somebody would get hurt.
Let's talk about who is getting hurt right now.
A pox on both their houses
Exactly. Media shills ignore all the Obamacare taxes that go into effect, the 2% increase in the withholding, etc. HOW are we better off with $3 trillon in additional budget deficits?
Most Americans got screwed!
http://confoundedinterest.wordpress.com/2013/01/02/the-day-after-republi...
Future problems???? That's the next generation's concern.
/sarc
Obamacare is going to ream the economy's asshole so hard.
And I'm a LIBERAL who says this!
Wonder if all those "Middle Class Americans" Obama rounded up last week for his campaign speech realize they just got a 2% payroll tax increase. The media sure isn't highlighting it.
I've told three people that the payroll tax cut is no longer in effect and 77% of the non 1% will pay higher taxes.
I've been called a lier three times.
'The news said everything is fixed '.
Ask these three people if they know any winners of yesterday's college football games.
Then ask them if they got their sports news from the same media outlets where they receive their so-called "hard" news.
Watch the smoke coming from their ears as their brains melt down due to the necessity to think for once.
did they chant "keep obama in president"
They mostly just do the deer-in-the-headlights, 'huh'?
One said, 'is this that fiscal cliff stuff they've been whining about'?
They were all Romney voters, or said they were...
Most thought they were voting for 4 more terms, not 4 more years.
Idiots.
"I've told three people that the payroll tax cut is no longer in effect and 77% of the non 1% will pay higher taxes.
I've been called a lier three times."
Well, when the new payroll tax rules go into effect, they will see the decrease in their net check soon. Maybe then they will realize it. Or maybe not.
Also, how many idiots in this country get a tax refund and they think they didn't pay any taxes at all? They don't realize its just the government giving them back their own money that they have overpaid. There are lots of dupes that believe this too.
Of course with the EIC, there ARE lots of people that get refunds who DON'T pay any income taxes.
I just don't understand that EIC stuff.
Most of my nieces & nephews don't have jobs & still live in Moms basement. They get $2k-$3k 'refunds' every year!
The best part is that after those making $400K/yr ($450K/yr for couples), the 2nd and 3rd highest tax increases are those on...........people making less that 18K and $10K a year.
The best part about all of this? Minimum wage laws were raised in 15 states this year. The payroll tax hike eats EVERY SINGLE DIME of gains those workers "voted" in.
Jokes on you, suckers!
I guess when Obamabots say, "Change you can believe in", they were talking about all of the low wage workers in this country that will be looking for dimes and quarters in their couches to pay off bills.
long guns....................
short politicians..............
No shit? Sherlock...
I always wondered what the average German thought was happening in 32'-36'. I wonder no longer.
remember that one third was enraged and socialist, one third was utterly confused and hurt and one third was enraged and fascist
We need a 3rd party.
And a 4th, 5th, 6th, and 7th too.
Most countries in Europe have multi party systems. I don't think those countries are shining beacons of how things should be done either. One way or another you have a majority and a minority.
And any way you slice it, big money finds it's way in corrupts everything equally.
And this logic doesn't extend to the Tea Pot Dome Express because....?!
We need no Party's, we need individuals that will be elected on their merits, who respect The People, not sell them out, who appreciate that in order to have a Rule of Law in a Republic, it must be equal for all.
What we have now is a two-Party system that in reality is one, where the Rule of Law is reflective of a Banana Republic.
I do not consent to any "rule"... "of law" or otherwise.
Do as you wish, but leave me out.
I'm not fond of anarchy either. I'm just looking for equal application.
If I rob a TBTF, I expect to go to jail.
If a TBTF robs me, I expect them to go to jail.
It's not equal.
We already have anarchy; just not for us little people. The fucking Club acts with utter disregard for the law because for them there IS NO Law. Therefore, "when in Rome" Bitchez...................
It's not equal.
You're right, it isn't equal, and that's a bad thing.
But it will NEVER be equal so long as one group of men gets to force everyone else to give them money and obey.
Hegemony is a bitch.
And I need a drink
The deal is also very fair and balanced... oh wait, gas prices just went up 2% just today...
AH the american free-range Neandersheeple doesn't mind! All is WELL! The food card is loaded with points, Wal*Mart is full of plenty of Cheezy Poofs, and a new season of American Idol Worshipper is ramping up to be a doozy! PARTY ON Clownmerica! They don't give a SHIT about their kids future...immediate gratification is all that matters baby!
+1 for the F.E.A.R. reference.
Who gives a shit - The majority of the people voted and wanted this- Suck it up and PAY!
I have a list of people around me who voted for this shit, and when they bitch and whine about it, I'll just laugh in their face!
Yes, the USA has become a nation of 51% + takers. You who produce, pay up!
Yes, you! You voted them in too!
Most all of the producers, business owners etc around me DID vote in ObaMao greedily, basically ALL of them who I know did! I can't wait till they start bitching about how they cant operate anymore, again I'll laugh and say 'told ya so moron'.
And you think they will blame Obama? Fat chance when they only have repugs and teapartiers in their crosshairs.
Actually, not really. Obama got 50.4% of the popular vote. The percentage of voting-age eligibles who voted is expected to be around 55% once the final numbers are tallied and released. Obama got about 27% or 28% of the voting age people in the US. The number would be higher if you strip out felons from the voting-age eligibles. But still, nowhere near a mandate. Roughly 72% or 73% of the people old enough to vote were either (a) felons, (b) voted for Romney or Johnson or write-ins, or (c) didn't care enough to show up. Most people actually did not vote for this. In 2016, I'm thinking about joining (c). Or (a).
The majority of people who voted over and over again for this are living on Obama phones, obama bucks and obama care.
"And Blackrock's Larry Fink summed it all up nicely from about 1:40 in this clip: "The American People are the Big Losers In The Cliff Deal"
Color me surprised but.........was this gonna end any other way?
<And this ain't over by a country mile.>
+100 if I could CD. This charade has just begun. The tough part is we are still going to have to hear about the fiscal cliff.
I do hope some of the uninformed will arrive at this site and actually get woken up. Most likely they will call all of us nuts or worse republicans.
"Most likely they will call all of us nuts or worse republicans."
Now them thar is fighting words. :)
Most likely they will call all of us nuts or worse republicans
That's just crazy talk.
Reid throws Obama proposal in burning fire. Obama and Biden throw Reid under moving bus.
http://www.huffingtonpost.com/2013/01/02/harry-reid-fiscal-cliff-fireplace_n_2396606.html
To keep up with the zeitgeist, a special home credit will be announced for same sex couples
Nah. Not from this still "evolving" administration.
What administration
The Federal Reserve will give homosexuals the choice in monetizing their mortgage either with OO or II
Why the fixation on homosexuals?
Do you wish you were one? Or are you secretly one?
Why ? It is your piece de resistance after all
I wish i were a woman, raped (legitimately) by sexually liberated feminists
Interesting that your facade cracks once monetary follies and your sexual proclivities are brought together. Hey, i knew that...american citizenism and all lulz
Don't you worry about my facade.
If you were a woman, I'd bet you'd miss all of your periods.
(I sincerely hope a lot of you get that one.)
Don't be so insecure, it shows in the jokes ?
Me. Insecure.
That's a funny joke.
It aint funny, it is as queer as a POMO.
My wife's best friend invited her and I over for Christmas dinner. Her son lives with her (28), as well as HIS best friend and HIS girlfriend. (I asked if he was maxing out the gov't loans: "Oh yeah! Plus I've got a really nice grandma!")
I asked the best friend (25ist) how school was going (studying 'literature')....."Great, just One & 1/2 semester to go". I asked him what was his BIGGEST concern right now? (These kids were doing bong hits since awakening)....
He doesn't think people have any right telling homosexuals they can't get married. THAT's IT! THAT'S HIS BIGGEST CONCERN IN LIFE!
We are so fucked.
It's the only selling point the USA has left, you know instead of economic advancement, scientific progress and that victorian garbage.
Haven't heard that much from Holland btw
Those young snapperwhippers are the ones that are so fucked. Me, I've lived the majority of my life already and in a much more free society. I have less to lose.
Wow! CNBC just gave ZH a shoutout! Amazing!
Ignoring their activities will make them more nervous. They delude themselves that they help more than they defraud. And so it will be going forward.
“Above all, don't lie to yourself. The man who lies to himself and listens to his own lie comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others.
And having no respect he ceases to love.”
Fyodor Dostoyevsky, The Brothers Karamazov
A reminder from the dark master:
"Democracy is the theory that the common people know what they want, and deserve to get it good and hard."
Suck on the 2% increase in payroll taxes, Obamacommies. You voted for it. Now suck on it.
You mean suck on the UI extension?
Or the lolly they were given to help corporate 'Merca that's being taken back?
Another HL Mencken fan.
The American people have been losers for the past 30 years!!
Keep a close eye on bond purchases by Bernanke and the Federal Reserve with it's CUSIPs.
The Treasury and the Federal Reserve will do some magic and make debt disappear.
Bernanke and the Federal reserve will try and minimalize balance sheet expansion by having the purchases on member banks.
Fuck it! I'm clicking on Christian Minges...
My bad, I meant Christian Mingle.
Jesus and Mary roleplay; how quaint.
Which role do you prefer? ;p
I meant Magdalene.
Freak. ;)
Watch out if your wife suggests the Joseph and Mary role play.
Monetization makes the nominal scoreboards light up alright, but you still have to cash out in Bennybux, que no?
http://www.youtube.com/watch?v=F-j7MDMZkcg
yeah a lot of low information voters watching Bloomberg and Larry Fink. These fuckers couldn't spot a piece of ass in a whorehouse
Fink also said we need to educate the people to lower their expectations.....that the people are not going to get all that they think they are going to get...quite a statement I thought...
Now I was thinking Fink...a billionaire....probably has a stash somewhere where he can run to when TSHTF...what do you think?
I'd like to be in the payroll office when these dumb fuckers come in crying about their check being smaller next week. Keep obama in president
I asked our HR Director, just this morning, to get out a notice to all employees to avoid the massive confusion on payday.
I doubt if any of them understand that their take home pay will be reduced.
i had an HR Director once .. :)
Listen to all of these statist fuckers who want more and more debt. They make me sick.
And the small caps are SOARING again today.
I like the...'FEEL' wealthier. That's nice. Obviously, it worked so well for the Christmas shopping season. Or, by Bernake's thinking, he just didn't ramp it high enough. Therefore, gas it even more.
Sure as shit, RUT at the high of the day and climbing.
The truth of the matter is that the rise in taxes for the 98% is really just the expiration of the payroll tax.
The expiration of this tax relief is a good thing for the 98% because it reinforces social security continuation long term for American retirees.
Therefore the spin on main stream media has the ulterior motive of attempting to drum up support for further payroll tax cuts which are death to the social security program.
The social security program is necessary for retirees. It is the only guarantee of some income for seniors. Think of the losses that Americans suffered in 2008 from their investments. Investments are always subject to major losses due to control by the 2%.
Possibly the only good thing that came out of it, if we are even to maintain a shred of credibility that it is not a welfare program but a social insurance program, as bizarre and twisted as the definition has to be to fit the reality of SS
I have give up hope now for my country. My beloved republic, child of the enlightenment and advocate of natural inalienable individual rights is no more.
When republics go they dont come back.
Benjamin Franklin said it would end in despotism as it always has before.
It does feel kinda good to give up hope and quit worrying. Party on!
I love it when people that refuse to go along with the madness are child-like or otherwise not adult. Its like the fact that the very place we are at right now is NOT the result of bipartisan compromise! They want to act like some madman slipped into the chambers one evening and created all of these spending bills and shat taxpayers existing and future money all over the wall and they have no idea who done it! Its just their job to be responsible adults and fix it. God, I want to puke.
Its not a problem of being broke, Its just that our blank checks have not shown up yet.
Its not a spending problem, Its just that we don't have enough coming in!
Its not a violence problem, Its just too damn many guns.
Its not an ideology problem, its just simply a matter of forcing a minority of congress to do everything a majority demands. Everyone knows that if you lose the majority you should go home.
why don't we all, when the next election comes, write down on our voting form: 'no vote',
instead of staying home, our choosing democrats or republicans, which doesn't make a lot of difference.
there is no one in the american politics who represents the people and has the interests of the peopleon top of his or he list.
go voting, but just write down 'no vote', because there is no on representing you.
That'll fix it.
This proves it those guys don't know math and have no clue once we venture outside the default topic of women's health:) They are lost.
Ok I'm tired of this fear of math that seems to permeate....we have this official Plos One study that is full on done with MRI testing and so forth about the fear of math creating physical pain. It's time we start stuffing members of congress into MRI's so we can diagnose this and fix them:) I know this is satire here but darn if might not help out <grin>. Some members just could be Algo Duped beyond repair and as a country we need to know that:) We have already been duped with Barbara Walters asking Chris Christie if his weight is an obstruction to do his job...good response by the way on his part.
http://ducknetweb.blogspot.com/2012/10/algo-duping-plos-one-journal.html
Let's reach out and fix these folks as they can't make laws with financial reform this way, Wall Street overcame their fear of math...well if they ever had it to begin with:)
Also a great video here from former Quant Cathy O’Neil, and she’s also a Mom of 3. She’s after it with exposing the characteristics of working at a Hedge Fund and worked with Larry Summers too. This is well worth the watch as she talks the dirty math and models out there. They hired her to do risk and she worked her buns off and they ignored her advice and went on with risky investments anyway. She got frustrated and left. Yup are still screwed. She also did a great interview with PBS too.
http://ducknetweb.blogspot.com/2012/12/cathy-oneil-mathematicianquant-wall.html
I am middle class and I am getting boned.....Like everyone else, I am going to pay an extra 2% of my income for the payroll tax increase.....Also, a third of my income comes from royalties which are now subject to the 3.9% tax to support Obama's healthcare bill....so, yeah, I will be spending less.
The new american free market is now called the blackmarket and is growing at a 10% GDP
its all figured in