Pensacola Discussion Forum
Would you like to react to this message? Create an account in a few clicks or log in to continue.

This is a forum based out of Pensacola Florida.


You are not connected. Please login or register

Pointing to broad strength in the economy, the Fed announces the end of its bond buying program. It turns out that all of the predictions from republicans and libertarians never materialized. In fact, the exact opposite was the case.

5 posters

Go to page : 1, 2  Next

Go down  Message [Page 1 of 2]

boards of FL

boards of FL

http://www.reuters.com/article/2014/10/29/us-usa-fed-idUSKBN0II20O20141029


Yet another thing they were wrong about.  Add that to the mountainous heaping pile...


http://www.reuters.com/article/2014/10/29/us-usa-fed-idUSKBN0II20O20141029


(Reuters) - The Federal Reserve on Wednesday ended its monthly bond purchase program and dropped a characterization of U.S. labor market slack as "significant" in a show of confidence in the economy's prospects.

In a statement after a two-day meeting, the central bank largely dismissed recent financial market volatility, dimming growth in Europe and a weak inflation outlook as unlikely to undercut progress toward its unemployment and inflation goals.

"On balance, a range of labor market indicators suggests that underutilization of labor resources is gradually diminishing," the Fed's policy panel said in an important departure from prior statements, which had described the slack as "significant."

"The committee continues to see sufficient underlying strength in the broader economy," it said.

U.S. stocks added to earlier losses after the statement but came back to close down only marginally, while the yield on the 5-year U.S. Treasury note jumped, putting it on track for its biggest one-day increase since mid-March. The yield on the benchmark 10-year U.S. Treasury note was little changed.

The dollar rose to a three-week high against a broad basket of currencies as traders pulled forward expectations of when the Fed would eventually raise interest rates.

Rate futures shifted to show better-than-even odds of a rate increase in September 2015; previously, they had pointed to a hike in October. The Fed has held rates near zero since December 2008 and has more than quadrupled its balanced sheet to $4.4 trillion through three separate asset purchase programs.

"The market is saying that the Fed has now stepped closer to tightening interest rates because of the labor market," said Andrew Wilkinson, chief market analyst at Interactive Brokers LLC in Greenwich, Connecticut.

The Fed also added broad, flexible language that ties the timing and pace of any future rate hike to incoming economic data, as Fed Chair Janet Yellen has stressed in recent remarks.

While the central bank retained its basic guidance that overnight borrowing costs would remain near zero for a "considerable time" following the end of bond purchases this month, the new phrase marks a turn toward a new regime.

"If incoming information indicates faster progress toward the committee's employment and inflation objective than the committee now expects, then increases in the target range for the federal funds rate are likely to occur sooner than currently anticipated," the statement said.

ROUNDING UP THE VOTES

The changes in language seemed to accommodate the concerns of Fed officials worried the central bank was falling out of step with improvements in the economy. Philadelphia Fed President Charles Plosser and Dallas Fed President Richard Fisher, who dissented at the previous meeting last month, voted in favor of the statement this time.

Like investors, economists generally saw the new language as having a slightly hawkish tilt, downplaying risks the recovery will ebb and sticking with the underlying forecast of moderate U.S. economic growth and steady improvement in the job market.

"Despite the recent market volatility, the statement ... was, if anything, more hawkish,” said Paul Ashworth of Capital Economics. "So, on balance, the Fed believes it is getting closer to meeting the full employment side of its mandate."

Minneapolis Fed President Narayana Kocherlakota was the only one who broke ranks, arguing for the committee to make a bolder commitment to meet its 2 percent inflation target given a lack of price pressures.

A global stock market sell-off two weeks ago, a dip in inflation expectations and flagging growth in Europe had raised the risk that global weakness could hamper the U.S. recovery and undercut the Fed's effort to move inflation higher.

The Fed made only slight reference to those events. It acknowledged that lower energy prices "and other factors" were holding inflation down. But it said risks to the economy were balanced, and it repeated its view that the likelihood of inflation undershooting its target had diminished since earlier this year.

The decision to shutter the bond-buying program was almost foregone. The monthly purchases had been steadily cut from $85 billion to $15 billion as part of the Fed's gradual turn away from policies launched to fight the 2007-2009 recession and breathe more life into a tepid recovery.

The Fed will continue reinvesting the proceeds of securities that mature each month, meaning its balance sheet will remain intact for the time being.


_________________
I approve this message.

boards of FL

boards of FL

Don't all rush here to stand corrected at one now!


_________________
I approve this message.

boards of FL

boards of FL

PkrBum wrote:I think I read it as a second reduction to 45B a month... the estimated debt held by the federal reserve is over 4 Trillion.

Imagine that for a moment. Where did it come from... what value was transfered for that? Who wins? Who loses?


_________________
I approve this message.

boards of FL

boards of FL

Markle wrote:Because, as you know, the Fed has been printing $75 billion a month into the economy each month.

What happens when they stop?


_________________
I approve this message.

boards of FL

boards of FL

On the Fed's exit strategy...

Markle wrote:They don't have one!  Plus the chair of the Fed is changing.

Has the President shown any economic ability thus far?  Over FIVE years?


_________________
I approve this message.

boards of FL

boards of FL

Markle wrote:
boards of FL wrote:
Markle wrote:
They don't have one!  Plus the chair of the Fed is changing.

They don't have one?  Reality begs to differ.  Are you not familiar with the tapering strategy that has been going on for two months now?

You're a hoot!

TWO MONTHS...AFTER FIVE YEARS OF FAILURE DOES NOT A STRATEGY MAKE!


BUT...cute try!

Pointing to broad strength in the economy, the Fed announces the end of its bond buying program.  It turns out that all of the predictions from republicans and libertarians never materialized.  In fact, the exact opposite was the case.  AnimatedLaughterPink


_________________
I approve this message.

boards of FL

boards of FL

PACEDOG#1 wrote:
Markle wrote:
boards of FL wrote:
Markle wrote:
They don't have one!  Plus the chair of the Fed is changing.

They don't have one?  Reality begs to differ.  Are you not familiar with the tapering strategy that has been going on for two months now?

You're a hoot!

TWO MONTHS...AFTER FIVE YEARS OF FAILURE DOES NOT A STRATEGY MAKE!


BUT...cute try!

Pointing to broad strength in the economy, the Fed announces the end of its bond buying program.  It turns out that all of the predictions from republicans and libertarians never materialized.  In fact, the exact opposite was the case.  AnimatedLaughterPink

LOL it's like being an 0-14 football team that wins the last two games of the season. LOLOLOLOLOL   worthless....


_________________
I approve this message.

boards of FL

boards of FL

Markle wrote:Once again for the very S-L-O-W.
Please show us the plan for keeping inflation down and reducing the REAL unemployment rate to below 5%.  Oh, did I mention GROWING the economy?


_________________
I approve this message.

2seaoat



Mr. Markle will not have an intellectual discussion. He will cut and paste, and then run from the facts. At least he has just about gotten every fact wrong and every economic prediction wrong......how come Mr. Markle the mid terms are not pounding Obamacare?

Floridatexan

Floridatexan


Imagine how the recovery might have proceeded without this:

http://ourfuture.org/20140923/the-cost-to-our-economy-from-republican-obstruction-and-sabotage

The Cost To Our Economy From Republican Obstruction And Sabotage

SEPTEMBER 23, 2014


The Republican political strategy has been to obstruct efforts to help the economy for everyone but the wealthiest few, and then campaign on complaints that the economy isn’t helping anyone but the wealthiest few. It’s working.

In President Obama’s July 12 weekly address he said, “So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.” He could have said, “Since 2009.” Since the 2009 “stimulus,” Republicans have obstructed pretty much every effort to help the economy. In the Senate they have filibustered hundreds of bills, and since the “stimulus” they have managed to keep anything from passing that might help the economy.

In the House, Republicans have refused to allow votes on anything that seriously would help the economy, instead passing only tax cuts for the wealthy and corporations, spending cuts on essential things like maintaining our infrastructure and scientific research, and cutting regulations that protect people and the environment from being harmed by corporations seeking profit.

Republicans have blocked every effort since the stimulus to maintain infrastructure, hire teachers, raise the minimum wage, give equal pay for women, stop special tax breaks for millionaires corporations (especially oil companies), stop tax breaks for sending jobs out of the country, provide student loan relief, help the long-term unemployed, and more. Instead they insist on even more tax breaks for oil companies and billionaires, on cutting environmental protections, deregulating oil companies, and so on.

Obstruction Using Senate Filibusters

How many bills have been filibustered by Senate Republicans since President Obama took office? Bloomberg’s Jonathan Bernstein, in “All Filibusters, All the Time,” writes, “The correct count of how many bills have been filibustered during Obama’s presidency is: approximately all of them.”

That’s what it means to have a 60-vote Senate, which is what Minority Leader Mitch McConnell and the Republicans declared as soon as Obama was elected. Almost every measure and, until Majority Leader Harry Reid and the Democrats invoked the nuclear option last fall, almost every nomination, had to have 60 or more votes to pass. That’s a filibuster.

Here are just a few of the hundreds of bills Senate Republicans have filibustered since President Obama took office — just a few:

Infrastructure bills
The following headlines are from last week’s “Full Employment Is More Than Possible. It Is Essential.“

2011: “Republicans filibuster Obama infrastructure bill”
2012: “‘Phantom filibuster’ blocking path forward for highway bill, says Reid“
2013: “Bipartisan Transportation and Housing Bill Filibustered“
Equal Pay for Women
Minimum wage increase
Creating American Jobs and Ending Offshoring Act
Bring Jobs Home Act – stop tax breaks for moving jobs and production facilities out of the country
Teachers and First Responders Back to Work Act of 2011 – rehire 400,000 teachers, firefighters, paramedics and police officers.
Student loan reform – ease the crushing burden of student loan debt by at least allowing refinancing to lower interest rates
Extended unemployment benefits – for the long-term unemployed
Employee Free Choice Act (EFCA) — let working people join unions – filibustered in 2007, killed by threat of filibuster 2009
Public Safety Employer-Employee Cooperation Act – let public safety officers join unions
The Buffett rule – ensure millionaires pay a comparable tax rate to middle-class Americans
Repeal Big Oil Tax Subsidies Act
What would it have meant for the economy and jobs to launch a post-stimulus effort to maintain and modernize our infrastructure? How about reversing the tax structure that pays companies to move jobs out of the country? How about equal pay for women? How about a minimum wage increase? How about hundreds of thousands of teachers and first responders going back to work? How about being able to organize into unions to fight for wages, benefits and safer working conditions? How about relief from crushing student loan debt?

All of those things blocked, and people wonder what the economy is just slogging along…

Obstruction And Economic Sabotage In The House

In the House Republican leadership has been following what is called the “Hastert Rule” to obstruct bills that would win with a majority vote. This is not a real “rule”; it is a partisan method of limiting what Democrats and moderate Republicans can accomplish. Republican leadership will not bring a bill up for a vote unless a majority of Republicans are for it. In other words, even if a bill would pass with most Democrats and some Republicans voting in favor, it can’t even get a vote unless it fits with Republican doctrine. (Actually that would be Republican funder doctrine, which is basically oil companies, Wall Street and a few ultra-billionaires.)

So instead of looking at what has been blocked in the House, which would be literally everything Democrats and up to 49 percent of Republicans think would help the economy, we should look at what has passed. What has passed is a record of economic sabotage. Republicans claim there are more 300 bills passed by the House that are held up in the Senate. (Note that The Washington Post took a look at this and found that “In 11 of the past 19 Congresses – more than half – more than 300 bills were waiting for Senate action by the time the Congress completed its work.”)

Of particular note among the passed bills is the Republican “Path to Prosperity Budget” (a.k.a. the “Ryan budget”). It is described as “Cuts spending & implements pro-growth reforms that boost job creation.” It dramatically cuts taxes on the rich. It privatizes Medicare. It cuts spending on infrastructure, health care for the poor, education, research, public-safety, and low-income programs. It turns Medicaid, food stamps, and other poverty programs into state block grants.

Tax cuts aren’t going to fund schools or repair roads and bridges. And lo and behold, this Republican budget that passed the House cuts taxes and cuts funding for even maintaining – never mind modernizing – our vital infrastructure needs. This is a budget of economic sabotage.

Other Republican House “jobs” bills, listed at Speaker Boehner’s “jobs” page include:

Repeal ObamaCare
Working Families Flexibility Act – Eliminates overtime pay
Preserving Work Requirements for Welfare Programs Act
Approve Keystone pipeline, to build a pipeline across the country so Canadian oil can be soil to China, easing an oil glut here and bringing prices back up.
More offshore oil drilling
Student Success Act – Promotes charter schools, cuts federal programs and support for schools
Coal Residuals Reuse and Management Act – blocks regulations on coal ash
Energy Consumers Relief Act – block government regulation of oil companies and carbon pollution
Stop Government Abuse Act – “Provides small business owners with tools to protect against government harassment.”
Keep the IRS Off Your Health Care Act – “Stops the IRS from implementing the president’s health care law”
Regulations from the Executive in Need of Scrutiny (REINS) Act – “Requires congressional approval of any new regulation with an economic cost of at least $100 million”
National Strategic and Critical Minerals Production Act – Facilitates the development of strategic and critical minerals used to support manufacturing jobs. (Note Senate Republicans filibustered this.)
Protecting States’ Rights to Promote American Energy Security Act – Prevents regulations on fracking
Responsible And Professionally Invigorating Development Act – Expedites the approval for new energy projects
Electricity Security & Affordability Act – Protects coal-fired plants from regulation
Preventing Government Waste & Protecting Coal Mining Jobs in America Act – prevents coal regulations
Success and Opportunity through Quality Charter Schools Act
North American Energy Infrastructure Act – promotes cross-border pipelines.
The Domestic Prosperity and Global Freedom Act – Expedites the approval of liquefied natural gas export applications
Lowering Gas Prices to Fuel an America That Works Act – expanding production of oil and gas
Permanent Internet Tax Freedom Act – Permanently extends a ban on Internet access taxes
OK, got that? Their “jobs” bills include things like cutting government support for schools, stopping regulations on coal ash, requiring people receiving federal assistance to work, and drill-baby-drill. Oh, the list even includes bills that Republicans filibustered in the Senate.

It is not clear how getting rid of public schools and replacing them with charter, private and home schools is about “jobs.” It also is not clear how banning taxes on Comcast internet access “creates jobs.”

Many of these so-called “jobs” programs are really about subsidizing and assisting the oil and coal companies that provide so much of the funding for the Republican Party and conservative propaganda apparatus. (Note that Koch Industries is at heart an oil company.) They’re just called “jobs” programs because people need jobs – because Republicans have been blocking actual jobs programs.

And what about direct sabotage? Who can forget the Republican hostage-taking of the debt ceiling, when they threatened to take down the entire world economy unless we cut back on things like maintaining our infrastructure, scientific research, public health, hiring teachers and other things we do to make our lives better? There was a direct cost of $18.9 billion, but then there was the resulting credit rating downgrade, the pullback by businesses worried that they might actually do this, and so on.

Who can forget the terrible cost to the economy of the government shutdown? There was a direct cost of $24 billion, but also the reduced fourth-quarter GDP growth from 3 percent to 2.4 percent. And the continuing harm from loss of confidence in our government’s ability to, well, govern.

The Voting Public Doesn’t Know

The Senate filibusters of real job and economic recovery efforts, the House’s so-called “jobs and growth” bills, the debt ceiling fights, the cuts in economically necessary spending like infrastructure maintenance and finally the government shutdown combine to show an incredible record of economic sabotage. This was the Republican plan, we saw it unfold, and now we see Republican campaigns running against the “Obama economy.”

However, the voting public is largely unaware of this record of obstruction and sabotage and the effect on the recovery. Seriously, go out and ask around. If you are reading this you are likely a highly-informed person. So you might be aware that there have been filibusters, but maybe not that there have been up to 500 or more Republicans filibusters.

The corporate media obscures the obstruction and sabotage. The corporate/conservative propaganda apparatus blasts out diversion and distraction. And, of course, the Democrats are not presenting a unified explanation of how Republicans are hurting the economy and how they would make things better. (Until recently President Obama blamed “Congress” in general, and the media still does.)

If Republicans take the Senate this fall, will they continue the obstruction and sabotage? What if they later also take the presidency? Here’s the thing, they know their tax cut, deregulate, smaller government nonsense does not work to boost the economy. Any economist will tell you, history will tell you, and common sense will tell you that taking money out of the economy won’t help the economy. It’s bad enough now, what happens to the country if they win? It’s well past time to be fed up with this. Vote, make sure your friends and family vote. Volunteer to talk to people about the urgency of voting. It’s all we have left.

By the way, here is what that 2009 stimulus spending accomplished — we went from losing more than 800,000 private sector jobs a month to gaining 100-250,000 a month:

Pointing to broad strength in the economy, the Fed announces the end of its bond buying program.  It turns out that all of the predictions from republicans and libertarians never materialized.  In fact, the exact opposite was the case.  Monthly_0208_0514

Guest


Guest

Floridatexan wrote:
Imagine how the recovery might have proceeded without this:

http://ourfuture.org/20140923/the-cost-to-our-economy-from-republican-obstruction-and-sabotage

The Cost To Our Economy From Republican Obstruction And Sabotage

SEPTEMBER 23, 2014


The Republican political strategy has been to obstruct efforts to help the economy for everyone but the wealthiest few, and then campaign on complaints that the economy isn’t helping anyone but the wealthiest few. It’s working.

In President Obama’s July 12 weekly address he said, “So far this year, Republicans in Congress have blocked every serious idea to strengthen the middle class.” He could have said, “Since 2009.” Since the 2009 “stimulus,” Republicans have obstructed pretty much every effort to help the economy. In the Senate they have filibustered hundreds of bills, and since the “stimulus” they have managed to keep anything from passing that might help the economy.

In the House, Republicans have refused to allow votes on anything that seriously would help the economy, instead passing only tax cuts for the wealthy and corporations, spending cuts on essential things like maintaining our infrastructure and scientific research, and cutting regulations that protect people and the environment from being harmed by corporations seeking profit.

Republicans have blocked every effort since the stimulus to maintain infrastructure, hire teachers, raise the minimum wage, give equal pay for women, stop special tax breaks for millionaires corporations (especially oil companies), stop tax breaks for sending jobs out of the country, provide student loan relief, help the long-term unemployed, and more. Instead they insist on even more tax breaks for oil companies and billionaires, on cutting environmental protections, deregulating oil companies, and so on.

Obstruction Using Senate Filibusters

How many bills have been filibustered by Senate Republicans since President Obama took office? Bloomberg’s Jonathan Bernstein, in “All Filibusters, All the Time,” writes, “The correct count of how many bills have been filibustered during Obama’s presidency is: approximately all of them.”

That’s what it means to have a 60-vote Senate, which is what Minority Leader Mitch McConnell and the Republicans declared as soon as Obama was elected. Almost every measure and, until Majority Leader Harry Reid and the Democrats invoked the nuclear option last fall, almost every nomination, had to have 60 or more votes to pass. That’s a filibuster.

Here are just a few of the hundreds of bills Senate Republicans have filibustered since President Obama took office — just a few:

Infrastructure bills
The following headlines are from last week’s “Full Employment Is More Than Possible. It Is Essential.“

2011: “Republicans filibuster Obama infrastructure bill”
2012: “‘Phantom filibuster’ blocking path forward for highway bill, says Reid“
2013: “Bipartisan Transportation and Housing Bill Filibustered“
Equal Pay for Women
Minimum wage increase
Creating American Jobs and Ending Offshoring Act
Bring Jobs Home Act – stop tax breaks for moving jobs and production facilities out of the country
Teachers and First Responders Back to Work Act of 2011 – rehire 400,000 teachers, firefighters, paramedics and police officers.
Student loan reform – ease the crushing burden of student loan debt by at least allowing refinancing to lower interest rates
Extended unemployment benefits – for the long-term unemployed
Employee Free Choice Act (EFCA) — let working people join unions – filibustered in 2007, killed by threat of filibuster 2009
Public Safety Employer-Employee Cooperation Act – let public safety officers join unions
The Buffett rule – ensure millionaires pay a comparable tax rate to middle-class Americans
Repeal Big Oil Tax Subsidies Act
What would it have meant for the economy and jobs to launch a post-stimulus effort to maintain and modernize our infrastructure? How about reversing the tax structure that pays companies to move jobs out of the country? How about equal pay for women? How about a minimum wage increase? How about hundreds of thousands of teachers and first responders going back to work? How about being able to organize into unions to fight for wages, benefits and safer working conditions? How about relief from crushing student loan debt?

All of those things blocked, and people wonder what the economy is just slogging along…

Obstruction And Economic Sabotage In The House

In the House Republican leadership has been following what is called the “Hastert Rule” to obstruct bills that would win with a majority vote. This is not a real “rule”; it is a partisan method of limiting what Democrats and moderate Republicans can accomplish. Republican leadership will not bring a bill up for a vote unless a majority of Republicans are for it. In other words, even if a bill would pass with most Democrats and some Republicans voting in favor, it can’t even get a vote unless it fits with Republican doctrine. (Actually that would be Republican funder doctrine, which is basically oil companies, Wall Street and a few ultra-billionaires.)

So instead of looking at what has been blocked in the House, which would be literally everything Democrats and up to 49 percent of Republicans think would help the economy, we should look at what has passed. What has passed is a record of economic sabotage. Republicans claim there are more 300 bills passed by the House that are held up in the Senate. (Note that The Washington Post took a look at this and found that “In 11 of the past 19 Congresses – more than half – more than 300 bills were waiting for Senate action by the time the Congress completed its work.”)

Of particular note among the passed bills is the Republican “Path to Prosperity Budget” (a.k.a. the “Ryan budget”). It is described as “Cuts spending & implements pro-growth reforms that boost job creation.” It dramatically cuts taxes on the rich. It privatizes Medicare. It cuts spending on infrastructure, health care for the poor, education, research, public-safety, and low-income programs. It turns Medicaid, food stamps, and other poverty programs into state block grants.

Tax cuts aren’t going to fund schools or repair roads and bridges. And lo and behold, this Republican budget that passed the House cuts taxes and cuts funding for even maintaining – never mind modernizing – our vital infrastructure needs. This is a budget of economic sabotage.

Other Republican House “jobs” bills, listed at Speaker Boehner’s “jobs” page include:

Repeal ObamaCare
Working Families Flexibility Act – Eliminates overtime pay
Preserving Work Requirements for Welfare Programs Act
Approve Keystone pipeline, to build a pipeline across the country so Canadian oil can be soil to China, easing an oil glut here and bringing prices back up.
More offshore oil drilling
Student Success Act – Promotes charter schools, cuts federal programs and support for schools
Coal Residuals Reuse and Management Act – blocks regulations on coal ash
Energy Consumers Relief Act – block government regulation of oil companies and carbon pollution
Stop Government Abuse Act – “Provides small business owners with tools to protect against government harassment.”
Keep the IRS Off Your Health Care Act – “Stops the IRS from implementing the president’s health care law”
Regulations from the Executive in Need of Scrutiny (REINS) Act – “Requires congressional approval of any new regulation with an economic cost of at least $100 million”
National Strategic and Critical Minerals Production Act – Facilitates the development of strategic and critical minerals used to support manufacturing jobs. (Note Senate Republicans filibustered this.)
Protecting States’ Rights to Promote American Energy Security Act – Prevents regulations on fracking
Responsible And Professionally Invigorating Development Act – Expedites the approval for new energy projects
Electricity Security & Affordability Act – Protects coal-fired plants from regulation
Preventing Government Waste & Protecting Coal Mining Jobs in America Act – prevents coal regulations
Success and Opportunity through Quality Charter Schools Act
North American Energy Infrastructure Act – promotes cross-border pipelines.
The Domestic Prosperity and Global Freedom Act – Expedites the approval of liquefied natural gas export applications
Lowering Gas Prices to Fuel an America That Works Act – expanding production of oil and gas
Permanent Internet Tax Freedom Act – Permanently extends a ban on Internet access taxes
OK, got that? Their “jobs” bills include things like cutting government support for schools, stopping regulations on coal ash, requiring people receiving federal assistance to work, and drill-baby-drill. Oh, the list even includes bills that Republicans filibustered in the Senate.

It is not clear how getting rid of public schools and replacing them with charter, private and home schools is about “jobs.” It also is not clear how banning taxes on Comcast internet access “creates jobs.”

Many of these so-called “jobs” programs are really about subsidizing and assisting the oil and coal companies that provide so much of the funding for the Republican Party and conservative propaganda apparatus. (Note that Koch Industries is at heart an oil company.) They’re just called “jobs” programs because people need jobs – because Republicans have been blocking actual jobs programs.

And what about direct sabotage? Who can forget the Republican hostage-taking of the debt ceiling, when they threatened to take down the entire world economy unless we cut back on things like maintaining our infrastructure, scientific research, public health, hiring teachers and other things we do to make our lives better? There was a direct cost of $18.9 billion, but then there was the resulting credit rating downgrade, the pullback by businesses worried that they might actually do this, and so on.

Who can forget the terrible cost to the economy of the government shutdown? There was a direct cost of $24 billion, but also the reduced fourth-quarter GDP growth from 3 percent to 2.4 percent. And the continuing harm from loss of confidence in our government’s ability to, well, govern.

The Voting Public Doesn’t Know

The Senate filibusters of real job and economic recovery efforts, the House’s so-called “jobs and growth” bills, the debt ceiling fights, the cuts in economically necessary spending like infrastructure maintenance and finally the government shutdown combine to show an incredible record of economic sabotage. This was the Republican plan, we saw it unfold, and now we see Republican campaigns running against the “Obama economy.”

However, the voting public is largely unaware of this record of obstruction and sabotage and the effect on the recovery. Seriously, go out and ask around. If you are reading this you are likely a highly-informed person. So you might be aware that there have been filibusters, but maybe not that there have been up to 500 or more Republicans filibusters.

The corporate media obscures the obstruction and sabotage. The corporate/conservative propaganda apparatus blasts out diversion and distraction. And, of course, the Democrats are not presenting a unified explanation of how Republicans are hurting the economy and how they would make things better. (Until recently President Obama blamed “Congress” in general, and the media still does.)

If Republicans take the Senate this fall, will they continue the obstruction and sabotage? What if they later also take the presidency? Here’s the thing, they know their tax cut, deregulate, smaller government nonsense does not work to boost the economy. Any economist will tell you, history will tell you, and common sense will tell you that taking money out of the economy won’t help the economy. It’s bad enough now, what happens to the country if they win? It’s well past time to be fed up with this. Vote, make sure your friends and family vote. Volunteer to talk to people about the urgency of voting. It’s all we have left.

By the way, here is what that 2009 stimulus spending accomplished — we went from losing more than 800,000 private sector jobs a month to gaining 100-250,000 a month:

Pointing to broad strength in the economy, the Fed announces the end of its bond buying program.  It turns out that all of the predictions from republicans and libertarians never materialized.  In fact, the exact opposite was the case.  Monthly_0208_0514

Oh good more soros leftist propaganda. Institute for America’s Future (IAF) Campaign for America’s Future (CAF) 501(c)(4) advocacy group that promotes IAF policy work and positions. Yet you have a problem with the right doing the same... lol.

You are a very useful comrade.

boards of FL

boards of FL

Where's Markle?



_________________
I approve this message.

2seaoat



There have been many mistakes made by government and the Fed. However, the science of economics actually works. Economist using data points and sound theory can maximize, but there will always be those who lack training and understanding of economics who will argue that it is all voodoo and smoke and mirrors. To some extent those criticism are valid, but if we stick to the science and work to make this country better, It will actually get better.
We live in a great country, and once the babyboomers fade into history, our collective selfishness will hopefully fade into history as a lesson learned.

Guest


Guest

Yes... because our free market economic engine was an illusion until govt controlled every aspect of labor/production/trade.

What a load of shit. Instead of common sense regulation we have evolved into a fascist/statist progressive wet dream.

But that wasn't enough... now the revision blames the entrepreneurs and risk takers and the freedom to innovate...

not the govt originally tasked to simply provide a level playing field and a fair system of redress. What a perversion.

boards of FL

boards of FL

PkrBum wrote:Yes... because our free market economic engine was an illusion until govt controlled every aspect of labor/production/trade.

What a load of shit. Instead of common sense regulation we have evolved into a fascist/statist progressive wet dream.

But that wasn't enough... now the revision blames the entrepreneurs and risk takers and the freedom to innovate...

not the govt originally tasked to simply provide a level playing field and a fair system of redress. What a perversion.


Hey, PkrBum, can you give us some more economic forecasts? Based on your track record, you clearly have a firm grasp on this stuff.


_________________
I approve this message.

Guest


Guest

Our future... only they still produce.

http://m.wsj.com/articles/bank-of-japan-announces-massive-stimulus-move-1414773082?mobile=y

Markle

Markle

2seaoat wrote:There have been many mistakes made by government and the Fed.   However, the science of economics actually works.   Economist using data points and sound theory can maximize, but there will always be those who lack training and understanding of economics who will argue that it is all voodoo and smoke and mirrors.   To some extent those criticism are valid, but if we stick to the science and work to make this country better, It will actually get better.  

We live in a great country, and once the babyboomers fade into history, our collective selfishness will hopefully fade into history as a lesson learned.

So you believe, as does your comrade Wordslinger, that Socialism/Communism would take all those people who worked hard and played by the rules a lesson by bringing them down to your level.

What a master plan!

boards of FL

boards of FL

Perhaps PACEDOG wanted to bury this?


_________________
I approve this message.

2seaoat



So you believe, as does your comrade Wordslinger, that Socialism/Communism would take all those people who worked hard and played by the rules a lesson by bringing them down to your level.

What a master plan!


I think most Americans would be very happy to be at my level regardless of how they got there. I got there by being a capitalist. I would have gotten there if I was a socialist. Your sophomoric political labeling avoids the truths and creates fictions which only a brain dead parrot who got a bad saltine cracker would parrot.

ZVUGKTUBM

ZVUGKTUBM

Your sophomoric political labeling avoids the truths and creates fictions which only a brain dead parrot who got a bad saltine cracker would parrot.

Seaoat is being too nice here...... Very sophomoric indeed!

http://www.best-electric-barbecue-grills.com

Guest


Guest

PkrBum wrote:I predict a sputtering economy... higher taxes... growing debt... govt interventions... and interest rate increases.

Pointing to broad strength in the economy, the Fed announces the end of its bond buying program.  It turns out that all of the predictions from republicans and libertarians never materialized.  In fact, the exact opposite was the case.  Images?q=tbn:ANd9GcT9uT69KytLzxseK_9JmBi-fO-AlZP8_BkwAKEst8EOa0Z8cW3qAw

Wait until it can't get it's next government fix.

*****CHUCKLE*****

https://www.youtube.com/watch?v=3ZwQRCkKxNE

Smile

Markle

Markle

ZVUGKTUBM wrote:Your sophomoric political labeling avoids the truths and creates fictions which only a brain dead parrot who got a bad saltine cracker would parrot.

Seaoat is being too nice here...... Very sophomoric indeed!

Pointing to broad strength in the economy, the Fed announces the end of its bond buying program.  It turns out that all of the predictions from republicans and libertarians never materialized.  In fact, the exact opposite was the case.  Socratestoo

Sponsored content



Back to top  Message [Page 1 of 2]

Go to page : 1, 2  Next

Permissions in this forum:
You cannot reply to topics in this forum