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  1. #2126
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    For a visual representation of what it means to have the USA by someone who hates it, have a look at these comparisons between March 2007, when this was still recognizable as America, and last month:











    And what's worse is there are people out there that will vote for that POS and his left-wing commie, Marxist policies again.

    The Obama Legacy: 8 Charts That Will Blow Your Mind

  2. #2127
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    Quote Originally Posted by Boon Mee View Post



    And what's worse is there are people out there that will vote for that POS and his left-wing commie, Marxist policies again.
    Hey, I thought we buried that bogeyman after Vietnam and we became best friends with China?
    Its the Muzzies trying to take over the world now dont you know. Get with the times man.

  3. #2128
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    Obama Recovery Is WORST EVER Since Great Depression

    Worst. President. Ever.
    A new report shows that real GDP has risen 0.8% over the 13 quarters since the recession began, compared to an average increase of 9.9% in past recoveries.



    United States GDP Growth Rate

    When a new Bloomberg poll finds that 44% of Americans feel that the economy is “worse than when Obama was inaugurated” (versus only 34% who say it is “better”), you know the economic recovery is pretty anemic. Now the Joint Economic Committee has chronicled how weak it is compared to others since World War II.
    In a report entitled “Unchartered Depths,” the Committee finds that “employment is now 5.0% below what it was at the start of the recession, 38 months ago. This compares to an average rise in employment of 3.7% over the same period in prior post-WWII recessions.”
    On economic growth, real GDP has risen 0.8% over the 13 quarters since the recession began, compared to an average increase of 9.9% in past recoveries. From the beginning of the recession to April 2011, real personal income has grown just .9% compared to 9.4% for the same period in previous post 1960 recessions.
    The standard response from Obama apologists is that recession of 2008 and 2009 was different because, as former Clinton administration economist Robert Shapiro puts it, “this was a financial crisis, and these take longer to recover from.” In fact, in most cases, the deeper the recession, the stronger the recovery to make up for lost ground.
    That was what Ronald Reagan’s critics said when the U.S. economy soared during 1983 and 1984 with quarterly growth numbers exceeding 7%. At the time, liberal Keynesians yawned and declared the good times nothing more than a normal snapback from the deep recession.
    So where is the normal snapback now? Even $4 trillion in deficits since 2009 and nearly $2 trillion of asset purchases by the Fed haven’t pulled the economy from its funk.


    Bummer of a Recovery - WSJ.com




  4. #2129
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    Quote Originally Posted by Storekeeper View Post
    I think you're on the right track. And the US economy may have some problems around the corner. But in the last decade and up until to date ... it's just percolating right nicely.
    Sounds peachy when you ignore the 100 trillion dollar unfunded debt over the next decade.

  5. #2130
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    "Once you eliminate any sense of decency it gets easy"

    Indeed...

  6. #2131
    Thailand Expat Hampsha's Avatar
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    Just figured I post the link to CSpan here. Right now there's a guy talking about the debt right now in relation to the Aug deadline and debt default etc.

    C-SPAN - Watch live TV channel in high quality | Livestation


    Use the link from 5- 9pm Thai time for interesting chat and call-ins.

  7. #2132
    Thailand Expat Hampsha's Avatar
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    Great chat today too on debt and the deadline on CSpan.

  8. #2133
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    Economy Needs to Produce 254,000 Jobs Per Month for 65 Months to Get Back to Pre Recession Unemployment Levels



    B. Hussien Obama and his team are going to get right on that...

    Every time we update the projection chart of how many jobs have to be created by the end of Obama’s now improbable second term, the number goes up. First it was 245,500 in April, then 250,000 in June, now it is 254,000: it seems to increase by 5,000 each month. As a reminder this chart looks for the breakeven number that has be attained to restore (not surpass) the jobs that the US economy had back in December 2007 as the Depression started, when accounting for the natural increase of 90,000 people/month in the labor force. Needless to say, there is no way in hell the US economy can create a quarter million jobs per month from now for the next 65 months, as long as the president continues to pander to Wall Street’s “wealth creation” via asset returns instead of directing capital into actual economically viable projects that focus on wealth creation through labor

    US Needs To Generate 254,000 Jobs A Month For 65 Months To Get To Pre-Depression Employment By End Of Obama Second Term | zero hedge

  9. #2134
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    Quote Originally Posted by Boon Mee
    as long as the president continues to pander to Wall Street’s “wealth creation” via asset returns instead of directing capital into actual economically viable projects that focus on wealth creation through labor
    Totally agree. The US corporate sector is awash with cash, and I think the federal government should be encouraging more of it to be put to productive use. The conundrum is, the slashing of expenditure by the federal government encourages corporates to continue sitting on their cash or playing zero sum financial games, because they know it will only weaken demand in an already weak economy.
    probes Aliens

  10. #2135
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    Reminds me of jock on Dad's Army.

    His catch phrases was "Doomed we are all doomed"

    Maybe we are?

  11. #2136
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  12. #2137
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    North suburban Republican Congressman Joe Walsh has a new YouTube video on his website – where he tells President Barack Obama to “quit lying” about the impact of not raising the national debt ceiling by Aug. 2. In a nearly three-minute video released Wednesday, Walsh says, “President Obama, quit lying.” He claims there is plenty of money to pay federal debts and cover the costs of Social Security benefits, even if the debt ceiling isn’t raised by the deadline.




    Does 'lying sack of shit' define this sorry excuse of a failed community agitator or what???

    Rep. Walsh Tells Obama ‘Quit Lying’ About Debt Ceiling

  13. #2138
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    Mein Freund Boone !

    you're still at it bashing Obama? Could you imagine Americans (Republicans) like you, putting all their energy towards fixing up the U.S. instead of bashing the President ?
    America could be back in the Ball Game. Or do you seriously believe that the Reps could have done better ?
    Anyway, I give you a rating green for all your wasted time and hope the U.S. can get back on its feet.
    I don't think Moody's or Dadong will be as generous

    your Freund,
    HtG

  14. #2139
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    B. Hussien's path to ruin:

    While the Republican-controlled House of Representatives has voted this year to approve House Budget Chairman Paul Ryan’s (R.-Wis.) proposal — that would put the government on a gradual path to a surplus by 2040 — and plans to vote on a balanced budget amendment next week that would cap federal spending at 18 percent of GDP, the only budget proposal President Obama’s has publicly revealed in 2011 would, according to the Congressional Budget Office, increase the deficit by $26 billion this year, $83 billion next year, and $2.7 trillion over the next decade.Additionally, although annual budget deficits would decline somewhat between 2013 and 2015 under Obama’s proposal, according to the CBO, after that they would start increasing again, going up ever year from 2016 to 2021, the last year estimated by the CBO.
    In short, the only budget proposal Obama has put forward this year for the public to review and analyze puts the federal government on a path to eventual bankruptcy.
    In the latest Congressional Budget Office’s analysis of the president’s budget — published in April — the CBO compared its “baseline” estimates for the coming decade to what it estimates would be the fiscal results of Obama’s budget plan. (The CBO’s baseline largely assumes current law will be maintained.)


    “According to CBO’s projections, if all of President Obama’s budgetary proposals were enacted, they would add $26 billion to the baseline deficit for 2011,” said the CBO analysis. “As a result, the 2011 deficit would total $1.43 trillion or 9.5 percent of Gross Domestic Product.” Under the baseline projection, as of April, CBO estimated the deficit this year would reach $1.399 trillion.


    Obama's Proposal: Increase Debt Extra $26B This Year, $83B Next Year, $2.7T Over Decade | CNSnews.com

  15. #2140
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    Consumers in U.S. Relying on Credit as Inflation Erodes Incomes

    Consumers in the U.S. are increasingly using credit cards to pay for basic necessities
    as income gains fail to keep pace with rising food and fuel prices.

    http://www.bloomberg...es-incomes.html

  16. #2141
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    Voters Give Republicans 10 Point Edge Over Dems on Economy

    Voters finally get it.
    Obama tripled the deficit his first year with the failed Obama-Pelosi stimulus plan.
    In Obama’s second year the deficit topped a trillion dollars again.

    With lawmakers haggling over government debt and consumer confidence at a two-year low, voter confidence in Republicans to handle the economy is growing.
    The latest Rasmussen Reports national telephone survey of Likely Voters shows that 45% trust Republicans more when it comes to handling economic issues, while 35% put more trust in Democrats. Nineteen percent (19%) are undecided.
    The gap was the closest in years in May when the GOP held just a 46% to 42% lead on the economy, which voters have consistently regarded as the most important of 10 issues regularly tracked by Rasmussen Reports.


    Trust on Issues - Rasmussen Reports

  17. #2142
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    Strongest economy in the world. OP, you there?
    --
    The four horsemen of the middle class apocalypse – what does it say that we as a nation bailed out the financially wealthy too big to fail banks yet failed to bail out the middle class?


    What made the U.S. the envy of the world was the belief that if you worked hard enough and had the right kind of grit and intelligence that you would be able to enjoy the fruits of your labor. This is what built the solid middle class after World War II. The majority of people finally had the chance to purchase a home without going into dramatic debt, to send a child to a quality public schools, and for the most part enjoy in the rising quality of life for most Americans. The last category has been lost in the last few decades. While incomes for the bottom 80 percent of Americans have gone stagnant income growth for those in the top 1 percent has skyrocketed. The tools and amount of capital needed to prosper are largely out of the reach of the middle class and only the modern day oligarchy can afford to send their kids to $50,000 a year private schools without sweating it. Does the public have at the top of their priority list a desire to keep the middle class solvent? We bailed out the too big to fail banks under the premise that they were instrumental for our economy but the same has not been offered to the middle class. Why is that?

    Horseman #1 – Rising healthcare costs

    Source: Kaiser Family
    The cost of healthcare is far outstripping the rate of overall inflation. This is not exactly a recipe for success with 75 million baby boomers entering retirement. The fact that we spend more per capita on human wellbeing than any nation in the world yet produce poorer results than other industrialized nations should tell us something about our system. The rhetoric coming from D.C. and Wall Street is troubling because it once again only protects the small group of people that have amassed most of the wealth in the country. The rest of America is left to fend for itself or continue to payout larger and larger premiums with really no equal rise in quality.
    The per capita annual income in the United States is $25,000. How much can someone at this level afford in terms of health coverage? Not much to be honest. According to a recent Census study the number of Americans without health insurance is up to over 45,000,000+. I’m certain that number is now higher given that the study was conducted at the beginning of the recession.
    Horseman #2 – Cost of college

    Source: BusinessWeek
    The rising cost of college and lack of income growth has pushed many students into massive amounts of debt. Many older Americans like to talk about the days when they went to college and paid for their schooling with a part-time job. No part-time job is going to pay for $50,000 a year in tuition (or even $20,000 at many public schools) when the average per capita income is $25,000:
    Since 2000, in real terms college costs are now up by 23%
    Since 2000, in real terms real pay for college graduates is down by 11%
    This I find extremely troubling. While the cost of going to college has risen by 23 percent over the last decade actual real pay for college graduates has fallen by 11 percent. Can it be that higher education itself is in a bubble? This is very likely.
    Education is vital to having a vibrant and competitive middle class. Yet Wall Street has allowed the banking system once again to turn this institution into a commodity meant to be traded and raided. This is why we have many paper-mill institutions predatorily going after students and condemning them to lives of debt serfdom with a worthless piece of paper. The working class is shrinking faster and faster as most of our manufacturing is outsourced so many are forced into becoming educated or face low pay service sector work. In a debt based society many of these people simply go back to school thinking they will pick up a skill in a new “hot” job field. Many simply come out with degrees and debt that put them into a deeper hole. Many would have been better off going to a community college or trade school but many of these for-profit schools get to students first before they can go to these more affordable options (at least for now as states hemorrhage funding).
    If we really value educating the population and having an intelligent middle class, then why allow this banking and government backed circus to continue?
    Horseman #3 – Price and volatility of housing

    With all the volatility around in the world Americans at least were able to count on housing as a safe investment. That was before investment banks got their hands on the mortgage backed securities market and turned it into another wild casino with the aid of the both political parties. Nationwide since the Great Depression in the 1930s home prices in the United States never saw an annual price decline. So something seriously went wrong when home prices today are now down by over 30 percent from their peak levels reached half a decade ago!
    A home suddenly turned into a commodity that could be traded on or even used as another credit card. Maybe it could be used to compound the problem by taking a HELOC to go to one of those paper-mill colleges. What a mess and that is why having a strong consumer protection agency was so important but what we are getting is a stripped down shell. While there are tens of thousands of lobbyists protecting investment banks, where is the protection for the middle class? Of course the oligarchs will say that a hands off approach is necessary and who really wants a nanny state? Of course that is what they say but these are the people with the most protection and support from the government.
    Horseman #4 – Fuel and energy

    Finally the last horseman of the middle class apocalypse is energy costs. Our nation is built on a cheap energy model. It has a hard time sustaining solid growth once it goes over $30 a barrel. We use petrol in our plastics, fertilizers, cars, planes, and so many other things that once the price goes up the entire chain changes. Now look at the above chart. In 2000 the cost of a barrel of oil was $27 while today it is closer to $100 (more than tripled in this last decade). Yet incomes and according to government data, inflation has been rather quite over this time. The cost of college and healthcare has gone up even faster.
    This is the new world we are living in. There is little desire or regard for the middle class from the oligarch machine. A big portion of their wealth is derived from robbing the lower classes (i.e., gambling on housing, swindling people into worthless paper, and charging people outrageous amounts of money for medicine that may or may not produce statistically different results). They also have convinced many that they are simply temporarily embarrassed millionaires waiting for their turn to get rich quick if only the government got their hands off their money (of course 1 out of 3 Americans has zero dollars saved up). We are living in a time where the middle class is being asked to cut back to bail out the banking machine of Wall Street while at the same time being asked to tighten its belts. Sure sounds like we are doing what is right for the middle class.


    The four horsemen of the middle class apocalypse
    ............

  18. #2143
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  19. #2144
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    ^^ Great article. "Government of the people, by the people, for the people, shall not perish from the earth." What a laugh. Time to take your government back, Americans. It is currently being dictated to by a cabal consisting of a greedy and irresponsible few.

  20. #2145
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    US House on CSpan live discussing debt and current state of US dealing with it. It's good background audio.

    C-SPAN - Watch live TV channel in high quality | Livestation

  21. #2146
    Guest Member S Landreth's Avatar
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    Quote Originally Posted by sabang View Post
    Time to take your government back, Americans.
    trying but we have people like Lee in the way,...............

    Sen. Mike Lee (R-UT) told MSNBC’s Chris Matthews Monday that he is giving Congress ten days to pass a constitutional amendment that would make raising taxes nearly impossible. And if he doesn’t get what he wants, he will do everything in his power to force the U.S. to default on its debts.

    “Okay, in ten days you want to change the United States Constitution by two-thirds vote in both houses?” Matthews asked. “That’s what you’re demanding.”

    “Yes,” Lee admitted. “If possible we can’t change the Constitution just in Congress but we can submit it to the states. Let the states fight it out.”

    “You want the Democratic Senate, by a two-thirds vote, to pass a constitutional amendment or you want the house to come down?” Matthews pressed.

    “Yes. That’s exactly what I’m saying and I’ve been saying this for six months,” Lee said.

    Lee’s amendment would require a two-thirds majority to raise taxes, making future tax hikes nearly impossible. He would also require spending to return to 1996 levels.

    crazy people: GOP lawmaker admits he’s extorting Congress to rewrite Constitution
    Keep your friends close and your enemies closer.

  22. #2147
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    After hemming and hawing for several minutes during his press conference today, White House Press Secretary Jay Carney finally admitted that they have no plan. And, of course, he then goes on to defend his non-plan plan.



    Carney Gets Hit for Ten Minutes on The Obama Plan - By Daniel Foster - The Corner - National Review Online

    Rank amatures. The country's in the very best of hands...

  23. #2148
    Guest Member S Landreth's Avatar
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    Rank,...........Bush and his crew (some still in office)


  24. #2149
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    ^
    Source?

  25. #2150
    I don't know barbaro's Avatar
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    A visualization of United States debt. Click the link: A visualization of US debt (credit card bill) stacked in 100 dollar bills

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