• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Watch Live As Obama Shares His "Vision For A Balanced Approach to Reducing Our Deficit"

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Mon, 09/19/2011 - 10:33 | 1684437 Cognitive Dissonance
Cognitive Dissonance's picture

I got the front row seat. Suck my fumes.

I'm making book boys. What's the over/under on the number of DOW points we lose? 

Mon, 09/19/2011 - 10:36 | 1684456 fuu
fuu's picture

He takes us to -300 territory. Or -80 from here.

Mon, 09/19/2011 - 10:37 | 1684474 Comay Mierda
Comay Mierda's picture

bullish for peas

Mon, 09/19/2011 - 10:40 | 1684494 Long-John-Silver
Long-John-Silver's picture

Unlike Gold and Silver you can eat peas.

Mon, 09/19/2011 - 11:01 | 1684590 Lord Blankcheck
Lord Blankcheck's picture

I eat my peas with Silverware.sterling that is

Mon, 09/19/2011 - 11:03 | 1684595 redpill
redpill's picture

The new mantra is not just millionaires, but "Millionaires and BILLIONAIRES" just to drive the point home that this is really about those yacht-owning, private jet flying ultra-wealthy (ironically the same type of folks who would be able to escape such liability internationally if they so chose)...

But of course that's not what it is. It's an arbitrary $250k boundary that more and more people will fall into every year thanks to inflation, a level at which many small business owners would see diminishing returns by trying to expand their business and hire more people, prompting many to elect not to.

Perhaps more retarded is going after investment income, as it hurts everyone that saves and invests, not just the ultra wealthy.

And in the end, regardless of how one feels about who should be taxed and how much, there is another party in this scenario: a federal government that does not have a scrap of credibility and does not deserve one penny more than it already gets.

I'll tell you what, I don't want Warren Buffet taxed more, not only because theft remains theft regardless of scale, but because I don't want any of his money to go into the corrupt hands of the criminals we call leaders.

Mon, 09/19/2011 - 11:11 | 1684630 JP McManus
JP McManus's picture

I believe it's down to $200k a year, but, honestly, I haven't read the entire Jobs Act yet.  I heard we have to pass it before we can find out what's in it.

Mon, 09/19/2011 - 11:14 | 1684655 CrazyCooter
CrazyCooter's picture

I think the 250k boundary is quite intentional; we are all going to be making that kind of money in a couple years. The catch is we will be struggling to afford basic food and energy needs at the same time.




Mon, 09/19/2011 - 11:17 | 1684684 JP McManus
JP McManus's picture

Correct.  It won't matter when inflation forces the minimum wage up to $100/hr.  Then EVERYONE is "rich".

Mon, 09/19/2011 - 11:19 | 1684705 redpill
redpill's picture

I think that's right around the time that they make enough things illegal that we're all criminals too.  So we're all rich criminals.  Not even a good hearty round of liberal guilt can assuage such a thing, we'll be obliged to donate ourselves to the state entirely.

Mon, 09/19/2011 - 11:32 | 1684788 SRV - ES339
SRV - ES339's picture

To all of the above...

Hope you choke on your Sushi and through up all over those loafers. Go ahead, keep towin' the TP "Big Lie"... but the gravy train is pulling out of the station... get over it!

Of course there are millions of unemployed and poor "slackers suckling on the public teet" that would be hapy to swap lives with any of you poor downtrodden souls... what's this, your not so bad off after all... what a shock... lol!

Mon, 09/19/2011 - 12:36 | 1685071 redpill
redpill's picture

You myopic fool.  Who do you think the unemployed are going to get a job from?

Mon, 09/19/2011 - 13:43 | 1685339 TruthInSunshine
TruthInSunshine's picture

I am laughing my ass off at this moment, and I pass thy gift to you now:

EU to call for US and Japanese action on public deficits at G20 this week according to an EU document


09-19 13:05: EU to call for US and Japanese action on public deficits at G20 this week according to an EU document


I am happy to see the EU call out little Keebler Elf, Timmay Geithner.

Mon, 09/19/2011 - 20:49 | 1686908 SRV - ES339
SRV - ES339's picture

So in your Matrix fanatsy, all those business owners will close up shop and live off Tea Party love if we raise their taxes... lol?

You sure you didn't go with the blue pill?

Mon, 09/19/2011 - 11:22 | 1684717 j0nx
j0nx's picture

I see ZERO signs that inflation is or will be transferring to wages at any point in the near future. Too much global wage arbitrage for that to happen. Nope you get the worst of all outcomes with hyperbiflation.

Mon, 09/19/2011 - 10:38 | 1684483 the not so migh...
the not so mighty maximiza's picture

naaaa Bernake has his finger over the enter key, they are pumping as soon as he speaks.

Mon, 09/19/2011 - 10:45 | 1684513 I think I need ...
I think I need to buy a gun's picture

buma, buffett and bernanke = bullion

Mon, 09/19/2011 - 10:50 | 1684537 Long-John-Silver
Long-John-Silver's picture

Beans, Bullets, and Bullion.

Mon, 09/19/2011 - 10:54 | 1684559 X.inf.capt
X.inf.capt's picture

dont forget the coffee

im long coffee, short bullets...

Mon, 09/19/2011 - 10:57 | 1684567 the not so migh...
the not so mighty maximiza's picture

Don't forget the Babes, everything else is secondery

Mon, 09/19/2011 - 10:47 | 1684528 Oh regional Indian
Oh regional Indian's picture

All you guys have to notice is the Gold Fringed Flag behinid him. Perpetual state of War Emergency, oh clueless ones.

All Kabuki. Theater. This is no ordinary puppet pulpit. it IS a Bully Pulpit.

Do your research...


Hey America!

Mon, 09/19/2011 - 10:51 | 1684549 X.inf.capt
X.inf.capt's picture

i think our president going to say something interesting...


Mon, 09/19/2011 - 11:16 | 1684669 CrazyCooter
CrazyCooter's picture

I have been waiting to buy my next OZ ... c'mon dip!



Mon, 09/19/2011 - 11:18 | 1684692 SheepDog-One
SheepDog-One's picture

X.inf.capt yea something interesting is going to be said, 'No QE3'.

Mon, 09/19/2011 - 11:22 | 1684719 X.inf.capt
X.inf.capt's picture

well, dog, if youre in stocks.....


Mon, 09/19/2011 - 11:25 | 1684741 SheepDog-One
SheepDog-One's picture

'If Im in stocks'? No, not in stocks, as Ive been saying daily here for at least 8 months.

Mon, 09/19/2011 - 12:27 | 1685033 X.inf.capt
X.inf.capt's picture

i know your not, dog, i was talking to the 'long stock' people.

Mon, 09/19/2011 - 11:18 | 1684691 fuu
fuu's picture

Ok so I lost on that one hahah.

Mon, 09/19/2011 - 10:36 | 1684460 wang (not verified)
wang's picture

fortunately I blocked the White House media player and the LSO's it leaves behind on any and all who open this page

Mon, 09/19/2011 - 10:42 | 1684501 A Lunatic
A Lunatic's picture

Firefox will cure that. Too bad it wont fix the teleprompter.

Mon, 09/19/2011 - 11:19 | 1684699 CrazyCooter
CrazyCooter's picture

Use FireFox. Set the privacy options to clear everything except site preferences when firefox is closed.

I also use AdBlockPlus (plugin) which not only blocks a lot of banner adds and crap, but also lets me block titty avatars while browsing ZH at work.

Oh, and a good firewall.

If you are garnering "spy" attention beyond these measures, well, you have bigger issues to deal with.



Mon, 09/19/2011 - 10:37 | 1684480 Cdad
Cdad's picture

Hard to say how many points.  However, there is no doubt that criminal syndicate Wall Street bankers will seize the teachable moment to set President Zero straight on who the tax targets cows really are...and it ain't them.

We draw closer and closer to the Lear jet exodus in America.

Mon, 09/19/2011 - 11:13 | 1684643 SheepDog-One
SheepDog-One's picture

Millionaires today are mere peasants to the $500 billion club boys who run the puppets.

Mon, 09/19/2011 - 11:16 | 1684674 Cdad
Cdad's picture

Who are these sheeple Americans who believe this guy is a great orator?  He sounds like the regular two bar stools down bitching about "unfairness."  

Surreal.  Every time this guys speaks, I tumble backwards down the cosmic bunny hole.

Mon, 09/19/2011 - 10:42 | 1684502 Don Birnam
Don Birnam's picture

Tax the "millionaires" -- in an economy which has arguably been in a prolonged recession since 2008...some would go as far as having entered depression, in some sectors. 

Ah, yes -- President Hoover raised the top rate back in '29. The result contributed to what we all identify as "history."

"Brother, can you spare a SNAP card -- or better still, how much can I get for a spiffy Pontiac Aztek ?"


Mon, 09/19/2011 - 10:51 | 1684547 Cognitive Dissonance
Cognitive Dissonance's picture

Your image is actually a wonderful example of debasement of the currency since the Fed was hatched.

Cheap wheels

Mon, 09/19/2011 - 10:58 | 1684575 Crash N. Burn
Mon, 09/19/2011 - 10:58 | 1684578 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Tell me if he smells like sulfer.

Mon, 09/19/2011 - 11:02 | 1684589 Translational Lift
Translational Lift's picture

What a crock-o-shit....same ole same ole....this ahole needs a new speach writer!!

Mon, 09/19/2011 - 14:02 | 1685411 WallStreetClass...
WallStreetClassAction.com's picture

Hide yo millions,

hide yo gold,

they are taxing everyone here

Mon, 09/19/2011 - 10:33 | 1684439 William113
William113's picture

Oh look he's late again.

Mon, 09/19/2011 - 10:34 | 1684446 rcintc
rcintc's picture


Mon, 09/19/2011 - 10:35 | 1684450 oogs66
oogs66's picture

being late is a sign that he has the power?  maybe occassionally, but this is just plain and simple rude at this point

Mon, 09/19/2011 - 10:36 | 1684458 Dolar in a vortex
Dolar in a vortex's picture

Don't be silly, you're early.

He's always on time.

Mon, 09/19/2011 - 11:00 | 1684585 rcintc
rcintc's picture

27 minutes now...this is beyond inconsiderate.

Mon, 09/19/2011 - 10:58 | 1684573 Hansel
Hansel's picture


Mon, 09/19/2011 - 10:33 | 1684441 the not so migh...
the not so mighty maximiza's picture

maybe a bird will poop on his head, hey you never know.

Mon, 09/19/2011 - 10:33 | 1684443 PivotalTrades
PivotalTrades's picture

Until we eradicate the pernicious idea held by the Democrats that they are entitled to the product of your labor; which they then use to buy votes and swell the ranks of their tribe, there is no hope that the system that once provided the greatest standard of living will survive.

Mon, 09/19/2011 - 10:46 | 1684517 duo
duo's picture

Let's just use the AMT form, but change the rates to make it somewhat neutral to today's code.  It's a two-page form, isn't it?  That's simplification.

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