if the GOP wins both the House and the Senate? The Tparty (really the koolaid party) will try to shame them into cutting Govt spending and the depression is on.
I look forward to seeing how the GOP leadership handles the koolaid party... cuz i kno wthat hte GOP leadership know damn well that they cannot cut govt spending without unemployment going up...
and raising import taxes will not be popular, but it will be presented as TARRIFs instead of taxes..watch.
they may be able to sell it by making it a lw that requires all import duty collected to be used to directly retire debt... that would be my apporach..
if they cut income taxes while raising import taxes? the poor will revolt. That will literally be taxing the poor to pay the rich...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:Originally posted by glassman: i dunno, i don't think they'll know till it happens... Leader of minority caucuses are often not chosen when it's time to lead a majority....
as i recall all of the old leaders got shackled because they were the leaders... it dpends on who's closets are emptier...
No frontrunners in your mind? I don't see a clear leader at all. Was curious if you did. Since I'm not GOP...I might be missing a proposed frontrunner. That's why I ask. But it looks pretty murky from what I have seen to this point.
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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posted
i'm not really following it... i 'm not a GOP anymore...
i don't think they are winning for the right reasons eihter..
i just heard Meg Whitman on Fox saying that the Hotle Manager was telling her that businesses all around them are failing because they are regulated to death..
that's not the problem, the problem is that all the jobs are gone... even if we begin implementing trade sanctions against China tomorrow? It'll be five years before they come back... as it is? i am still wondering what the "new jobs" will be without trade sanctions...
with trade sanctions? we could start making clothing again but it will still take a couple years..
cutting taxes more will just make more money leave the US...
legalise drugs and set up drug stands on every corner, that will create lots of jobs
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
here's why our unemploymnt rate will remain where it is for some time to come:
Cumulative U.S. Trade Deficit Surpasses $10 Trillion Today, September 15th, 2010, America’s economy has reached a very sad milestone. Our cumulative trade deficit, since our last trade surplus in 1975, expressed in current dollars, has now eclipsed $10 trillion.
America experienced its last surplus of trade in 1975. Since then, through July, the most recent month for which trade data has been released by the U.S. Bureau of Economic Analysis, when adjusted for inflation using the Consumer Price Index published by the Bureau of Labor Statistics, the cumulative trade deficit was $9.93 trillion. Assuming a continuing monthly trade deficit of $45 billion (the current 3-month moving average), it is estimated that the trade deficit has now reached $10 trillion as of September 15th.
America is $10 trillion poorer today as a result of bone-headed trade policy based on failed 18th century economic theories. That’s $32,250 for every man, woman and child in America – almost $130,000 for every family of four. It’s enough money to solve virtually every financial challenge facing America, including putting the social security fund back on sound footing. It’s enough money to nearly wipe out our national debt
this is a lack of "freemarket" and overregulation?? LOL, NO! ... this is a lack of leadership since 1975...
what happened in 1974? Watergate did...
the OPEC oil embargo too....
and then we had the leveraged buyouts of the 80's... those leveraged buyouts happened primarily becuse peopl could borrow against the co's pension funds....
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:Originally posted by vg: Yes Tex, Finished with the house and i'm working in FW. Glad you guys are doing well. How has the market been treating you?
Glass, You stopped posting on the Hot Stocks thread abt 5 years ago, I guess you still haven't gone back huh?
i play some, i played indexes hard for awhile...
but after the brokers refused to let me trade a couple of penny stocks that i would have made a "killing" on? i just decided i wasn't going to be involved in stcok picking anymore...
it seemed to me like the ones that get targeted by the "fleecers" are the hot stocks...
i finished my studio just about the time you left, so i t keeps me pretty busy most of the year... i get the most free time late summer, early fall
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:Originally posted by CashCowMoo: Why use brokers when you can just do something like choicetrade
because the brokers still hold all the cards cash...
they own the DTCC.. the DTCC decides who will be allowed to take delivery and when....
index plays are great in times of high volatiltiy. i prefer them to trading stocks now... it's like shooting fish in barrel but inly when the market is moving 100 points a day otherwise it's a waste of time.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:Originally posted by CashCowMoo: Why use brokers when you can just do something like choicetrade
because the brokers still hold all the cards cash...
they own the DTCC.. the DTCC decides who will be allowed to take delivery and when....
index plays are great in times of high volatiltiy. i prefer them to trading stocks now... it's like shooting fish in barrel but inly when the market is moving 100 points a day otherwise it's a waste of time.
Shooting fish in a barrel? That crazy huh? You must be making some nice coin!
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posted
well, if you are watching the S&P it's easy...
i can turn on CNBC while i am working and not really pay attention- just kindof absorb the mood and know whether to play the short or the long.
i most definitely do not trade much money as day traders measure it cash...
i have moslty made money the same way that i have always recomended to young people (esp teenagers who ID themselves as such) who come here and ask me--- i tell them to DIRECTLY buy shares in their local power comapany and use the dividend re-investment plan, and buy shares every quarter no matter what's happening.. that's every quarter over and above your divend re-investemnt.
that's the key to wealth building... when the stock goes up? you don't get as many shares for your re-investment, bit when the price goes down? yu get more shares...
just remember that if you go to sell those divended re-ivnested shares? you will have a tax nightmare cuz the cost basis is all over the place.
1000$ i put in one co that i have just ignored since '90 is now over 12 grand... and the divends get bigger every quarter... i've done nothing at all with it-- just forgot about it... and i will keep on doing nothing for a while too...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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Few Takers In China For U.S. View On Currency Value
by Rob Gifford
The Obama administration faces a deadline Friday on whether to formally name China as a manipulator of its currency.
The decision comes up every six months, and so far the president has decided not to take the controversial step.
so this decision has been in front of a US Presdient every 6 months since when exaclty?
Andy Rothman, a strategist with the CSLA brokerage in Shanghai, says Americans need to be careful not to shoot themselves in the foot — or in the pocketbook. He says a stronger Chinese currency would mean more expensive Chinese goods in the U.S. And those aren't necessarily goods that can just be made in the U.S. instead.
"When was the last time you saw a factory in the U.S. making a laptop or a DVD player or flat-screen TV?" Rothman says.
this IS the point is it not? there are no factories here doing that because in China people at factories work for 200$ per month...
I think this is a long-term structural change," he says. "If you go back to 2005, the Chinese government decided that gradual appreciation of their currency against the U.S. dollar was in their interest, and so the currency appreciated by 21 percent over three years.
"Then they suspended the process after the global financial crisis, and now they are going back to that again. And so I expect it to appreciate still on a 7 percent annualized basis."
BUT! China is (economically) growing at a 10% rate so in fact they are still depreciating.
Analysts say pressure to appreciate the yuan will not help the U.S. deficit with China, either. They say that between 2005 and 2008, as the yuan was appreciating by 21 percent, the U.S. trade deficit with China actually increased by 50 percent.
There is no short term fix. We passed the point of no return on that quite some time ago.
We must place a tax in Chinese goods and dedicate that tax to buying back overseas debt.
With five years of that? We will begin our recovery. That's it... Thre i sno qucik fix, this didn't happen overnight and it won't be fixed overnite either. Everybody want sto avoid short term pain and they doom themeslves to long-term agaony.
The GOP's will come into office with all these promises of cutting taxes and Govt spending, and when/IF! they actaully do? More jobs will be lost. More jobs will go overseas because China has 10% growth.
posted
The 2008-2009 Chinese economic stimulus plan (simplified Chinese: 扩大内需十项措施; traditional Chinese: 擴大內需十項措施; pinyin: Kuòdà Nèixū Shíxiàng Cuòshī) is a RMB¥ 4 trillion (US$ 586 billion) stimulus package announced by the central government of the People's Republic of China on 9 November 2008 as an attempt to minimize the impact of the global financial crisis on the world's second largest economy.
that's in an economy that is 1/3 to 1/4 our size.... their stumulus plan is equal in size to our stimulus plan in terms of spending (do not forget that 1/3 of our stimulus plan was in fact TAX CUTS).
so, the Net Effect of their plan is that it was three to four times larger than ours....
and they are prospering...
interstingly, Chinese local governments are failing to make their required payments on the work.
Construction companies are complaining about being owed significant amounts of money:
Local Government Construction Projects Defaulting on Payments By Kang Yi, Li Wenbo Share
Published: 2010-09
Li Rongrong, the former chairman of the State-owned Asset Supervision and Administration Commission (SASAC) who retired last week, must be breathing a sigh of relief now that he's no longer responsible for the 123 centrally-owned enterprises that come under the purview of the commission.
like how they use the word "centrally-owned" ?
An example of such a COE (centrally-owned enterprises ) is the China Metallurgical Group Corporation. The group's listed subsidiary, Metallurgical Corporation of China Ltd. (MCC), revealed in its most recent annual report that accounts receivable of sales increased from 16% at the end of 2008 to 18% at the end of last year. Analysts predict that the 2010 figure is likely to be even higher
This is amjor portion of how the Chinese Govt is selling US so much debt...
they do charge income taxes, but they also take the profits, AND they write off debts as they see fit. The writing off of debt and the way they have done it in the past has been abusive to the World Bank too...
There is nothing FREEMARKET about the internal economic structure of China.
The State-owned Assets Supervision and Administration Commission of the State Council (simplified Chinese: 国务院国有资产监督管 理委员会; traditional Chinese: 國務院國有資產監督管 理委員會; pinyin: guówùyuàn guóyǒuzīchǎn jiāndū guǎnlǐ wěiyuánhuì) (abbreviation SASAC simplified Chinese: 国资委; pinyin: guó zī wěi) is a special commission of the People's Republic of China, directly under the State Council. It is responsible for managing China's state-owned enterprises, including appointing top executives and approving any mergers or sales of stock or assets, as well as drafting laws related to state-owned enterprises.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
China's centrally-administered state-owned enterprises (SOEs) reported profits of 723.55 billion yuan (107.83 billion U.S. dollars) in the first eight months, up 50 percent year on year, the nation's SOE watchdog said Friday.
But the growth rate was 4.3 percentage points lower than that in the previous seven months, said a statement from China's State-owned Assets Supervision and Administration Commission (SASAC) Friday.
The combined business revenue of the central SOEs reached 10.57 trillion yuan, up 40.4 percent year on year. But the growth rate was 2 percentage points down from that for the first seven months.
The central SOEs turned in 888.33 billion yuan in taxes in the first eight months, up 22.6 percent from the same period last year.
The statement gave no reasons for the increased profits.
There are 123 centrally-administered SOEs under the SASAC.
Xinhua
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posted
the anti-big govt people should have difficulty 'splaining this:
Sun Anmin, vice-chairman of the All-China Federation of Industry and Commerce, said that 7.4 percent of the nation's new jobs in the past year were created in the private sector.
"One-in-five employees in this country work in the private sector," said Huang Mengfu, chairman of the federation.
LOL... one in five employees are privately employed? sheehsshhh...
it's almost teh exact opposite here... 17% of employees are Public....
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:Originally posted by glassman: the anti-big govt people should have difficulty 'splaining this:
Sun Anmin, vice-chairman of the All-China Federation of Industry and Commerce, said that 7.4 percent of the nation's new jobs in the past year were created in the private sector.
"One-in-five employees in this country work in the private sector," said Huang Mengfu, chairman of the federation.
LOL... one in five employees are privately employed? sheehsshhh...
it's almost teh exact opposite here... 17% of employees are Public....
What is wrong with wanting limited government?
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posted
What is wrong with wanting limited government?
LOL... have you been reading here? there is no freemarket in China. 1 in 5 employees works for the State... you should have a problem with trading with China for crying out loud..
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
Of course I have a problem with China. I refuse to shop at Wal-Mart for example. I actively look to purchase items NOT made in China when I do go make purchases. It is a lot more difficult than most people think these days. The only think I willfully purchase from China are bottle rockets, and other fun assortments on the 4th.
-------------------- It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.
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quote:Originally posted by CashCowMoo: Of course I have a problem with China. I refuse to shop at Wal-Mart for example. I actively look to purchase items NOT made in China when I do go make purchases. It is a lot more difficult than most people think these days. The only think I willfully purchase from China are bottle rockets, and other fun assortments on the 4th.
There are plenty of companies in the US that manufacture bottle rockets/fireworks Cow. But you "willfully" buy from China...figures.
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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quote:Originally posted by CashCowMoo: Of course I have a problem with China. I refuse to shop at Wal-Mart for example. I actively look to purchase items NOT made in China when I do go make purchases. It is a lot more difficult than most people think these days. The only think I willfully purchase from China are bottle rockets, and other fun assortments on the 4th.
cash, tell me one GOP candidate that doesn't yell freemarkets as soon as anybody brings up restricting Chinese trade somehow?
we are supporting a Communist country.. so what if they have profits in mind, they are still a one party State runs everything country....
you won't find one...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
Bill Clinton told everyone if we opened up trade with China they would buy our goods and it would help OUR economy. Bill sold everyone snake oil. Most people didnt know that the average chinaman could not afford U.S. products. The Chinese and the Clintons is like Cheney and Halliburton. Big Arkansas Democrat selling out to the asians.
Now look. Look what NAFTA did...opened up for U.S. auto makers like Ford for example to open plants in Mexico to build cars with cheap labor. Bill Clinton seemed to side with the Republicans on de-regulation. He did that and lie under oath!
-------------------- It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.
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HONG KONG—China's surprise interest-rate increase prompted a global market pullback, underlining China's influence on markets even as some interpreted the move as a sign that the world's second-largest economy is on firm economic footing.
Currency markets reacted swiftly, with countries that depend on Chinese demand for their commodities seeing the biggest impact. The U.S. dollar rose 1.8% against the Canadian dollar and 2.4% against the South African rand. The Australian dollar, seen as the closest proxy for China's economy, fell 1.8% against the greenback in midday trading. The euro was also weaker Tuesday morning.
The Dow Jones Industrial Average fell more than 100 points to 11036 in morning trading. Commodity prices, especially for oil and gold, were lower too.
The People's Bank of China announced late Tuesday that it would raise its benchmark policy rates by a quarter of a percentage point, the first such move since December 2007. China has already tightened policy in other ways this year, raising reserve requirements for banks and targeting reduced lending for real estate.
The increase signaled that Chinese officials are worried about inflation and that the property sector hasn't slowed in the face of tightened lending. While preventing too much inflation is generally considered a good thing among investors, some fear that the government could go too far and snuff out growth.
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