It's official: US slips back into recession

[Keyser Soze]

Dude, five figures is $10,000.

Anyone making $50,000 is paying ten grand in taxes. What are you saying?

Don't be an obtuse shithead.
I pay more in taxes than you make in a year.

I'm talking about the ADDITIONAL AMOUNT I have to write a check to the IRS for this year.
That's above everything else I ALREADY send them.


All of economic illiterates here should watch this documentary.
It's on Netflix for those who have it.
http://100thmonkeyfilms.com/endoftheroad/
It will give you the Cliff Notes on why the US and Global Economies are a house of cards.

Just an FYI for the low-information voters present here.
The Federal Reserve is NOT Federal!
It is a PRIVATE BANK that has NO RESERVES and creates money out of thin air.

[Woof]

For the record, a recession is two CONSECUTIVE quarters of negative GDP.

So we're not in a recession. We're just in a fucking nightmare of liberal spending on useless shit which will soon bankrupt us and cause mass chaos.

Just keep a perspective......Government spending is not the 'Whole' economy.

[Goo For You]

CPI sucks / politicians and bureaucrats try to hide the truth about inflation and unemployment / GDP sucks / banks own the Fed

Why do you suppose markets choose to ignore your worries?

Is it because markets are in on the conspiracy?

Globalism. A big con on 1st world laborers that benefits 3rd world laborers and the owners of capital.

Good news! Your 60" plasma costs 25% less.

Bad news? You make $8/hour and can't afford one anyway.

There we have it, folks. The worldwide rise of living standards brought about by free-market capitalism is -- according to this self-proclaimed free-market capitalist -- a con job.

This Ron Paul stuff is pure schizophrenia.....

The fallacy of nominal GDP targeting

The dollar's lost 96% of its value since the creation of the Fed and 71% since we fully exited the gold standard in '71.

So the more expensive USD is, the better off Americans are?

Your criticism happens to be a mercantilist fallacy from the 1700s……

[Kamie]

because, for example. ronnie granted amnesty. yet ive never once heard a rep criticize him for it, and i heard them criticize bam for 4 years on that issue calling him the biggest liberal ever on immigration, even tho he deported record numbers and has the border more secured than ever. and when it comes down to it, most reps will vote for his bill (now that the election rhetoric is over)

I would disagree with you there. I have heard many Republicans/Conservatives criticize RR's amnesty plan, especially in recent weeks since the topic has come up again with the "Gang of 6" coming to an agreement about immigration. In fact, they have clearly stated that they want to make sure they don't fall into the same trap that Reagan did, which is to grant amnesty with a promise that the borders would be addressed in the future. We cannot grant amnesty without doing something about the borders first.

[tfresca]

I would disagree with you there. I have heard many Republicans/Conservatives criticize RR's amnesty plan, especially in recent weeks since the topic has come up again with the "Gang of 6" coming to an agreement about immigration. In fact, they have clearly stated that they want to make sure they don't fall into the same trap that Reagan did, which is to grant amnesty with a promise that the borders would be addressed in the future. We cannot grant amnesty without doing something about the borders first.

Obama deported more people than any recent resident, including the last two Republican ones. He did it to get Repubs on his side on immigration reform. It didn't work of course.

http://www.usatoday.com/story/news/n...tions/1785725/

"For the fourth year in a row, the Obama administration set a record for the number of people it deported. In 2012, the total reached 409,849."

BTW our cheap labor pool is one reason why we have cheap housing and food production. Our cheap poool of immigrant labor is a competitive advantage globally.

[Keyser Soze]

Obama deported more people than any recent resident, including the last two Republican ones. He did it to get Repubs on his side on immigration reform. It didn't work of course.

http://www.usatoday.com/story/news/n...tions/1785725/

"For the fourth year in a row, the Obama administration set a record for the number of people it deported. In 2012, the total reached 409,849."

BTW our cheap labor pool is one reason why we have cheap housing and food production. Our cheap poool of immigrant labor is a competitive advantage globally.

The problem is that while he deported more, he also SIGNIFICANTLY REDUCED the impediments
to illegal immigration by halting all efforts to actually secure the border.
He STOPPED the border fence project after the construction had begun.

Obama wants illegals here.
To argue that he doesn't is nonsense based on his actual behavior.

Your conclusions regarding housing and food production are horseshit.

Illegal immigration is a NET DRAIN on resources.
Illegal wetbacks consume FAR MORE in tax-payer funded benefits than any other class of people.

[racerx]

The problem is that while he deported more, he also SIGNIFICANTLY REDUCED the impediments
to illegal immigration by halting all efforts to actually secure the border.
He STOPPED the border fence project after the construction had begun.

Obama wants illegals here.
To argue that he doesn't is nonsense based on his actual behavior.

Your conclusions regarding housing and food production are horseshit.

Illegal immigration is a NET DRAIN on resources.
Illegal wetbacks consume FAR MORE in tax-payer funded benefits than any other class of people.

the border is more secure than ever. but it certainly isn't enough.

i get you hate the guy, but if you would support him on issues you agree with him on, he might have incentive to do more of it.
there was zero support for what he's done in that area.

the people you voted for want illegals here, despite the rhetoric to the opposite.
to argue they don't is nonsense

[CowboyX]

Well, we're officially in another recession


And Obongo is again blaming republicans

Obama blames -- Republicans!

and...he's right.

[Kamie]

the border is more secure than ever. but it certainly isn't enough.

i get you hate the guy, but if you would support him on issues you agree with him on, he might have incentive to do more of it.
there was zero support for what he's done in that area.

the people you voted for want illegals here, despite the rhetoric to the opposite.
to argue they don't is nonsense

So you are saying that Obama's incentive to actually do the work he was elected to do is affected by my opinion? that might explain his record.

and...he's right.

OMG.....It is incredible how the left continues to take blame Republicans for all the woes of this country. This is Obama's economy now. It's his, he owns it. On the day he let his Jobs Council's charter expire, jobless claims rose, what, 10% yesterday and everyone was in a panic because it was so unexpected. All of this will continue for the next 4 years unless, like Clinton, he pivots to the middle and tries to compromise. Obama is too full of hubris to compromise. He's already shown that.

[racerx]

So you are saying that Obama's incentive to actually do the work he was elected to do is affected by my opinion? that might explain his record.

.

im saying i dont understand why someone wouldnt support him on issues they agree with him on.
unless its blind hate and it doesnt matter what he does.


the people who elected him certainly dont want it sealed. he was elected to keep it open.
what record are you speaking of?

[racerx]

. Obama is too full of hubris to compromise. He's already shown that.

didnt he compromise on taxes to 98% of what republicans wanted?
hes adopted the republican position on taxes. even ryan likes it

[Wesmantooth]

if this is a recession bring it on

[Kamie]

didnt he compromise on taxes to 98% of what republicans wanted?
hes adopted the republican position on taxes. even ryan likes it

Maybe you are referring to the compromise in 2010 where he extended the Bush tax cuts for everyone? Other than that I don't know that Republicans agree with him on raising taxes on anyone.

[racerx]

Maybe you are referring to the compromise in 2010 where he extended the Bush tax cuts for everyone? Other than that I don't know that Republicans agree with him on raising taxes on anyone.

no i wasnt. he didnt compromise in 2010. he gave them 100% of what they wanted.


heres which ones who agreed to vote for raising taxes
ryan. who you just voted for?
mcccain. who you voted for last time?
boehner, and 100+ other republicans.
only 5 rep senators voted against. so did 3 dem senators




personally i think we should cut everyones taxes in 1/2 and remove all deductions

[Kamie]

no i wasnt. he didnt compromise in 2010. he gave them 100% of what they wanted.


heres which ones who agreed to vote for raising taxes
ryan. who you just voted for?
mcccain. who you voted for last time?
boehner, and 100+ other republicans.
only 5 rep senators voted against. so did 3 dem senators




personally i think we should cut everyones taxes in 1/2 and remove all deductions

Well, believe me, I am very unhappy with Republicans for caving, particularly in Ryan for several statements he has made recently. We should just obliterate Congress and start again. The whole lot of them are completely useless. John Boehner has proved himself to be a useless pussy, and McCain is a RINO.

[bigbump]

A billion-dollar daily shot in the arm for the American economy

August 17, 2012 | Posted by

Ken Cohen

One billion dollars every single day.That is the rough measure of the benefit the U.S. economy is estimated to receive by the end of this year thanks to the development of new supplies of oil and natural gas, according to a new analysis.USA Today reported recently about a Merrill Lynch study that seeks to quantify just how much the new supplies of natural gas and oil from unconventional sources like shale – not to mention offshore production in the Gulf of Mexico – are adding to U.S. economic output.The story notes that Merrill Lynch claims raw gains from domestic energy supplies were $900 million per day in April – a 1,300 percent increase from $70 million per day in January 2010. By the end of 2012, Merrill Lynch expects the daily gains from domestic supplies to be over $1 billion.Unfortunately the report is not online, which is too bad because the authors provide valuable detail about what they see as the great economic contribution of the current energy revolution. They peg that contribution at 2.2 percent of U.S. gross domestic product – an astounding figure in a $15 trillion economy.

Why would Obama want to dump a sure thing for something as green as Green Energy?

[openmike11]

I love how the liberals throw out shit reps when they can't handle actual facts.
Current obligations have US spending at 200% of GDP by 2037.
The problem is all those obligations already exist because of CURRENT law.
It is the criminal accounting practices of Congress and the CBO that would have people believe that
the US debt to GDP is only around 50%.

The Federal Government does NOT use GAAP.
If any US business used the very same accounting methods used by the Federal Government ,
the owners of that business would be indicted and thrown in jail.

I own my own business and I'm tired of dealing with stupid, shithead liberal-democrat wage slaves for employees.
I'm also tired of dealing with them in Dawg's Saloon.
If you voted for Obama, you voted to exacerbate the recession by spending your children into debt before they are even born.

Own it Bitches.

Liberalism is a crutch for those who can't handle common sense.

Liberalism: The art of spending other people's money.

[Bosch76]

Liberalism: The art of spending other people's money.

Conservatism, the art of lying.

[openmike11]

Conservatism, the art of lying.

Holy shit! Look at that last blue bar.

Clearly spending is out of control. No blaming past administrations on that one.

[CAPTAIN KIRK]

14K by the end of next week... watch.

We hit it today pal 14,009.79. My stock portfolio just loves that Obammy fella..