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Is a Recession Now Guaranteed?

Discussion in 'Political Issues' started by Flying-Dutchman, Nov 7, 2012.

  1. MrGlock21


    Apr 16, 2001
    North Texas
    :rofl: and you are supposed to announce it while toasting with a verre du vin
  2. cowboywannabe

    cowboywannabe you savvy?

    Jan 26, 2001
    thats not so, the gubmint spend in excess of 700 billion a year on welfare NOT counting social security and medicare....but spends just over 500 billion a year on nation defense security.

  3. czsmithGT


    Jan 8, 2004
    The programs DO have to be changed, not gutted.

    Starting to raise the retirement age again, eliminating the earnings ceiling at which social security tax stops being paid, means testing benefits, these probably all have to come into play.

    Boosting the economy, putting more people back to work, and a guest worker program where non-resident aliens can come here legally to work and pay social security tax could also help. There is a lot that must be and can be done, but maintaining the status quo won't cut it, no will continuing to increase the already bloated entitlement system.
  4. Atlas

    Atlas transmogrifier

    Oct 1, 2001
    north of the equator
    Reality: the unfunded present value of future federal liabilities = $222 trillion
  5. certifiedfunds

    certifiedfunds Tewwowist

    Apr 23, 2008
    That's a tax increase.

    And in your post you're essentially calling for these people who hit the ceiling to be means tested out of benes.

    Just end it. For chrissakes those people had a lifetime to plan for their retirement.
  6. DanaT

    DanaT Pharaoh

    You are more than misinformed.

    The Clinton surplus was on paper because of the dot com bubble. Once all that money disappeared, the capital gains tax it generated went away too.

    It had nothing to do with Clinton other than timing.

    But why dont you speak the truth and admit that the plans set forth for 9/11 all happened under Clinton's watch and that attack had a huge financial impact that we had a hard time recovering from?
  7. DanaT

    DanaT Pharaoh

    I know you think about me a lot, just please tell me you dont have naughty dreams about me.
  8. DanaT

    DanaT Pharaoh

    So why dont you help me out since you are so insightful and voted so well.

    The company I am working for is making the decision over the next week to shut down the US operation and terminate all employees because of the uncertainty over costs and taxes. It is about 30% that it will happen.

    I have been told I will be sent to the USA early to do it. If it is decided next week, I fly home Friday the 16th and chop on Monday and Tuesday. The ones that have to pack stuff up and ship capital equipment and assets to Europe get to stay until Dec 21. If it is shut down they want everyone off the books by the end of the year (end of year for us is Dec 21).

    More over, the equipment that is process being built in the USA to be delivered next year will be cancelled.

    So, help me out. How do you recommend getting rid of people a day or two before thanksgiving? Three days before Xmas? They have done nothing wrong other than be caught up in uncertainty where people are not willing to risk their money.

    Maybe you could give me your phone number and you can explain to them how the election was actually good for them?

    FWIW, I hope in the next 3 or 4 days I can pull something out of my butt or my butt will be moving. I already told wife 30% that she is moving.
  9. aircarver

    aircarver Ride Continues Silver Member

    The half that aren't paying anything.

    Last edited: Nov 8, 2012
  10. Clinton raised taxes and curtailed government spending. The Republicans undid all of that and crashed the economy. Then they started blaming Obama before he took office. I don't think you understand that.

    We spent enough on the unfunded wars Bush started to pay for health care for every person in the U.S.
  11. certifiedfunds

    certifiedfunds Tewwowist

    Apr 23, 2008
    This is funny. Clearly you don't remember Newt and Kasich. Kasich's nickname was The Hatchet Man and Newt Stole Christmas.

    Oh, and the wars cost less per year than social security and medicare.
  12. Repeal the Bush tax cuts and bring the troops home from everywhere. Spend the money in the U.S. that we're currently spending everywhere else. That will stimulate our economy instead of everyone elses economy and get things done in the U.S. that need to be done. Turn health care into a free market instead of the medieval guild it is now.

    What's your idea? Gutting SSI and turning Medicare into an HMO? Never happen. Wrong answer.
  13. cowboy1964


    Sep 4, 2009
    Only if you want to ignore what the definition of "recession" really is. Words matter. If you want to say the economy stinks, fine. But don't use terms incorrectly.
  14. cowboy1964


    Sep 4, 2009
    Yeah, government spending our money (regardless of where) really helps the economy. The last four years have proven that, right? :whistling:
  15. But I do.
  16. I've told you before, it was the Bush tax cuts that did that. Clinton raised taxes on everyone making over $24,000 per year.
  17. czsmithGT


    Jan 8, 2004
    The Dangerous Myth About The Bill Clinton Tax Increase
  18. aircarver

    aircarver Ride Continues Silver Member

    The 'stuff' you tell everybody is beyond belief .... :upeyes:

    Last edited: Nov 8, 2012
  19. unit1069


    Oct 10, 2007
    So. Central US
    I had the opportunity to short this morning when the tepid Obama Victory Bounce failed to materialize.

    The last five minutes of trading today saw the S&P futures tank dramatically, not that it's any indication of future performance.

    I'm all cash and short the market with expectations that we may see some dramatic movement in the markets from now until the end of the year. (Buy stop order to close my position is set at GTC)

    Disclaimer: My opinion is not to be taken as an investment recommendation of any kind but rather an expression of my personal viewpoint.
  20. DanaT

    DanaT Pharaoh

    I would call you a creepy old man, but I understand it. If I wasnt me, I would fantasize about me also. So its understandable.

    Why do you ignore what I should tell people on the 30% I am sent home on the 16th to cut them loose before two major holidays because of how the election went and people not wanting to leave the money in the USA?

    We are not deeply enough invested in the USA yet that it may be better to take some losses than loose more.

    You may think i am giant bunghole that is greedy an heartless. In fact, if you actually worked for me, you would know me. I treat hard working people that are competent very well. I treat slackers like slackers. I have no problem cutting a slacker loose. I have no problem paying good employees very well. When I did yearly raises for a company in the last company I worked for in the USA I was generally given a 3 or 4% budget increase for salaries. The good employees got 5 or 6%. The slackers got 0 or 1% (basically if you got this it was the indication you should be looking for a job). What I do have a problem doing is cutting people when they are good and they did nothing to deserve it. However, sometimes things are out of their or my control.

    So what should I tell these people? That the people in Europe who are funding the venture are now spooked by the economic climate and pulling money out. Just today Spanish bonds were trading 5% level (down from 8%) and the Spanish said they dont need a bailout. They are looking safer for investors than the USA right now.

    Come on. You voted for this. Help me out with what I should tell them.