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O'Bummer's Signature Achievement is a Disaster!
Posted by: Global Xing ()
Date: November 03, 2013 03:30PM

So, the 5th column press just realized he is both a bullshitter and a liar. Semantics, semantics...


http://nypost.com/2013/11/02/how-obama-crossed-the-line-from-bulls-t-to-dishonesty/

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Wat? ()
Date: November 03, 2013 03:36PM

Will you be that depressed Tuesday night? Fuck bro. Watch some football or something. This shit is getting old.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Global Xing ()
Date: November 03, 2013 03:41PM

Who said I am depressed or will be depressed. Go watch your bread-n-circus while the country gets 'fundamentally transformed'.

You think the way you do because it's by design from years of indoctrination in government schools and the media. Are you capable of independent thought and not just saying 'fuckit, i'll go watch football'?? While you are purposely distracted in 'football', the political class is busy bankrupting the treausry and fundamentally transforming us off the cliff.

Wake up and become aware. Reality is not the way you see it on tv.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: K man ()
Date: November 03, 2013 03:46PM

Wat? Wrote:
-------------------------------------------------------
> Will you be that depressed Tuesday night? Fuck
> bro. Watch some football or something. This shit
> is getting old.

translation = please talk about something else obamas fuck up is showing.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Obambots ()
Date: November 03, 2013 03:46PM

Global Xing Wrote:
-------------------------------------------------------
> Who said I am depressed or will be depressed. Go
> watch your bread-n-circus while the country gets
> 'fundamentally transformed'.
>
> You think the way you do because it's by design
> from years of indoctrination in government schools
> and the media. Are you capable of independent
> thought and not just saying 'fuckit, i'll go watch
> football'?? While you are purposely distracted in
> 'football', the political class is busy
> bankrupting the treausry and fundamentally
> transforming us off the cliff.
>
> Wake up and become aware. Reality is not the way
> you see it on tv.


It "gets old" for the Obamabots when it's anything that's not positive.

You can post ThinkProgress crap here all day and they'll be happily clapping along. lol


obamabot.jpg

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: its all good ()
Date: November 03, 2013 03:47PM

Wat? Wrote:
-------------------------------------------------------
> Will you be that depressed Tuesday night? Fuck
> bro. Watch some football or something. This shit
> is getting old.

And yet liberals still trot out anything they can on Bush, another double standard

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Global Xing ()
Date: November 03, 2013 03:51PM

Obamabots, Demoncat zombies cannot handle the fact that they have been had *badly* by this president and his machine. Hence, the phenomon we see.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: koot ()
Date: November 03, 2013 03:59PM

Global Xing Wrote:
-------------------------------------------------------
> While you are purposely distracted in
> 'football', the political class is busy
> bankrupting the treausry and fundamentally
> transforming us off the cliff.


Pssst, news flash: This stinking, corrupt country was bankrupt long before anybody ever heard of O'bummer.

Where have you been? USGov has been printing it's funny money for decades.

The only question is when it's gonna go splat.

Don't waste your time posting horseshit about who's to blame. You'd be wiser to get your guns cleaned and loaded. It's coming.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Global Xing ()
Date: November 03, 2013 04:05PM

I didn't say O'Bummer is entirely to blame for the debt, did I ? When he took over, the debt was, what $9 or $10 T ? Today, it's $17 T. "W" added a lot to the $10T with the 2 idiotic wars. And we have, what $100T in unfunded liabilities? It sure looks like a winning formula, not!

How do you reconcile the Federal Reserve buying $85 billion per month in US equities (propping up the markets that way) ?? Where do they get that money from ? Ah yes, out of thin air, electronic book entry. What is the debt book entry backed by? Any economist types want to answer this one (non-emotionally, please).

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Liberal Logic 29 ()
Date: November 03, 2013 04:39PM

Global Xing Wrote:
-------------------------------------------------------

> How do you reconcile the Federal Reserve buying
> $85 billion per month in US equities (propping up
> the markets that way) ?? Where do they get that
> money from ? Ah yes, out of thin air, electronic
> book entry. What is the debt book entry backed
> by? Any economist types want to answer this one
> (non-emotionally, please).

Its backed by military might and our say so. As long as we have the most powerful military in the world debt doesnt matter a whole lot as long as its kept reasonable. Adding a couple 100 billion a year people expect, the 1.5 trillion didnt sit well with some people.

That said at some point it will catch up with us it just wont be in our lifetime.

Now heres why Obamacare is such a HUGE problem. Its massively adds to that which will in turn take away money from the DOD. Its the same thing all the European countries have done who implemented it. If you really want debt to not matter you have to remain the only super power with by far and away the largest and best military like now. IF our military becomes just another lot in the bunch then debt starts to matter real quickly and youll see the rest of the world take steps to isolate themselves.

On the bright side China needs us. Their cheap labor is easily replaceable, our buying power is not. But again Obamacare is taking money out of peoples pockets which weakens our buying power and puts that strong standing in question long term.

Part of the trade off of our current position is that the UN and NATO get to use us as their military in exchange for basically letting us spend whatever we want. Both of those when ever theres a military action is basically means US forces under a foreign commander. If we got our debt in line that could stop.

One of the misconceptions is that economics has hard set rules, it doesnt. Its just a system designed to manipulate human behavior and things only matter if people say they matter.

Essentially were just screwing over future generations for our personal gain since theyre the ones who will pay and we can just keep doing what were doing reaping the benefit. Its the same reason empires eventually collapse because a couple generations decide to just take complete advantage of their situation and a couple generations later its a shell of its former self. Considering the current liberal leadership only cares about themselves its not surprising this is the route they choose to keep their own power

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: ghu ()
Date: November 03, 2013 05:16PM

The military exists to look out for corporate interests. Let the corporations pay for it.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Unwinding Unwinder ()
Date: November 03, 2013 05:25PM

So, how long does it take to unwind a war? This Irish guy, O'Bama, should've turned the lights out by just hitting a button. I heard this on Fox News that the button had a 404 error.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Global Xing ()
Date: November 03, 2013 08:24PM

I agree with mostly what Liberal Logic 29 said. In addition:

1). What is money? Ours is not even real money as it says 'Federal Reserve Note' but it's 'Legal Tender for All Debts public & private'. Fine. I'll ignore the fact that Congress abdicated its explicitly enumerated responsibility in Article 1, Section 8 of the US Constitution to a private banking cartel.

2). The BRIC countries are eager to get out from the dollar hegemony as they call it, and I think they will succeed. When they do, we're done.

3). Our debt load is $17T right now. Our GDP is, what $16T (2012) ? Most of the t-bills debt is owed not to sovereign investors (i.e. China, Russia, EU) but to ourselves (CD's, fixed income, etc). What happens when rates rise (they have to) -- you mathematically cannot decrease debt by borrowing to pay interest, or can you? Greenspan recently said we can just monetize at infinitum. But I think this eventually collapses.

4). I think the growth in debt will come crashing down in our lifetimes, not in 70 to 100 years. And it's not going to be pretty.

5). Yep, an economy is a system. Some use systems engineering techniques to model interactions.

6). In leu of (2) above, when China refuses to take our worthless dollars/t-bills in return for their sucktastick goods, what then? Their currency is undervalued on purpose too.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Rich old man ()
Date: November 03, 2013 09:45PM

Global Xing Wrote:
-------------------------------------------------------
> I didn't say O'Bummer is entirely to blame for the
> debt, did I ? When he took over, the debt was,
> what $9 or $10 T ? Today, it's $17 T. "W" added a
> lot to the $10T with the 2 idiotic wars. And we
> have, what $100T in unfunded liabilities? It sure
> looks like a winning formula, not!
>
> How do you reconcile the Federal Reserve buying
> $85 billion per month in US equities (propping up
> the markets that way) ?? Where do they get that
> money from ? Ah yes, out of thin air, electronic
> book entry. What is the debt book entry backed
> by? Any economist types want to answer this one
> (non-emotionally, please).

The great "Conservative" Reagan doubled the national debt in his 8 years in office. Clinton eliminated Reagans tax cuts for the rich and balanced the budget. Bush reinstated the Reagan tax cuts and blew up the budget and fucked up the economy so much a liberal got elected. He blew up the budget too - but not as much as Reagan. The one consistency is the stock market crashes when a party of no is in office and sky rockets when a Dem is in office. Made me a very rich man. I go all in when Dem's are in office - bail when the party of no is in office but reap their tax benefits. Win - Win. What a great country.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Memories fade ()
Date: November 03, 2013 09:51PM

Rich old man Wrote:
-------------------------------------------------------
> Global Xing Wrote:
> --------------------------------------------------
> -----
> > I didn't say O'Bummer is entirely to blame for
> the
> > debt, did I ? When he took over, the debt was,
> > what $9 or $10 T ? Today, it's $17 T. "W" added
> a
> > lot to the $10T with the 2 idiotic wars. And
> we
> > have, what $100T in unfunded liabilities? It
> sure
> > looks like a winning formula, not!
> >
> > How do you reconcile the Federal Reserve buying
> > $85 billion per month in US equities (propping
> up
> > the markets that way) ?? Where do they get
> that
> > money from ? Ah yes, out of thin air,
> electronic
> > book entry. What is the debt book entry backed
> > by? Any economist types want to answer this
> one
> > (non-emotionally, please).
>
> The great "Conservative" Reagan doubled the
> national debt in his 8 years in office. Clinton
> eliminated Reagans tax cuts for the rich and
> balanced the budget. Bush reinstated the Reagan
> tax cuts and blew up the budget and fucked up the
> economy so much a liberal got elected. He blew up
> the budget too - but not as much as Reagan. The
> one consistency is the stock market crashes when a
> party of no is in office and sky rockets when a
> Dem is in office. Made me a very rich man. I go
> all in when Dem's are in office - bail when the
> party of no is in office but reap their tax
> benefits. Win - Win. What a great country.


You realize that Clinton LOWER capital gains taxes right? And the windfall from THAT during the dot com boom was the reason for the (not really) budget surplus right? Until the bubble burst and the market crashed and all went *poof* leaving the spending at a higher level without the revenue.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Liberal Logic 29 ()
Date: November 03, 2013 10:05PM

Global Xing Wrote:
-------------------------------------------------------

> 6). In leu of (2) above, when China refuses to
> take our worthless dollars/t-bills in return for
> their sucktastick goods, what then? Their
> currency is undervalued on purpose too.


Then they have no economy and their country goes back to being dirt poor.

The US is basically the largest consumer of everything in the world. You cant get away from the US dollar or not sell to the US right now without destroying your own economy in the process.

No one can replace our buying power or consumption on the world stage. If China fell apart India and Asia could pick up their slack with cheap labor in a second, is the US goes the world economy goes and its all hell is breaking lose middle ages warfare all over again.

In other words China isnt going to do as long as their economy is largely based off of selling those things.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Prof.Potbar ()
Date: November 05, 2013 12:43AM

Memories fade Wrote:
-------------------------------------------------------
> You realize that Clinton LOWER capital gains taxes
> right? And the windfall from THAT during the dot
> com boom was the reason for the (not really)
> budget surplus right? Until the bubble burst and
> the market crashed and all went *poof* leaving the
> spending at a higher level without the revenue.

LOL! The world's worst historian has spoken! Capital gains tax cuts were added to the middle class tax cut package of 1997 as the price that ever-blackmailing Republicans demanded for the few votes Clinton needed to pass the important stuff. The expansion had meanwhile long been underway, and so had the so-called dot-com boom which is is still sailing right along, by the way. And the budget surpluses in FY 1998-2001 were entirely real. $363 billion of debt held by the public was bought down using those supluses. Unfortunately, a crisis of confidence in the newly appointed guy was driven by idiotic tax cuts for the rich into a shallow recession. It took the tragic events of 9/11 to give us something more important to worry about, but Bush's economic policies were an absolute disaster from start to finish. Republicans just can't do economics. At least not this latterday bunch of losers.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Prof Potbar ()
Date: November 05, 2013 12:50AM

By the way, know-nothings, all US currency and debt is backed by the real goods and services output within the US economy. Real GDP is what back's every country's currency and external debt. Since the US produces about 22% of all the real goods and services produced anywhere in the world within a given year, our currency is the strongest one around. If the EU could get its act together, the euro could be a competitor, but it lacks the decades of being relied upon in international trade, so it has a good ways yet to go. In any case, barring a comet impact or some such disaster that knocks our GDP way down, the US dollar will continue to be the world's premier currency.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Prof Potbar ()
Date: November 05, 2013 12:55AM

Oh, and one more thing. All this Obamacare nonsense is just the right-wing money boys trying to gin up yet another flash-mob bit of folderol leading up to the election. There's nothing more to it than that. It's all kind of like the Muslim cartoon mania really. Very dense people being led around by their handlers. How embarrassing for them!

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Bong Hits ()
Date: November 05, 2013 01:13AM

All currency and debt is backed by full faith and credit of the US. I.e. it's backed by confidence, nothing tangible. You can't sell a goods-n-services to buy a freighter-load of China-made iPads, now can you, Prof Potbar? What you are describing is barter. Money and money backed by precious metals is liquid. Goods-n-services? Not so much.

Paper currencies don't have a long track record of survival, do they? Think about it for a second before you answer. I am not advocating precious metals either, by the way. Just saying that we and our trading partners agree that certain green colored paper (and its electronic representations) made of cotton printed by the US Mint for the private banking cartel (Federal Reserve), is indeed money.

As far as Obummer's Care -- yeah, it's all right wing nonsense, until it's your ass whose policy gets cancelled.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Memories fade ()
Date: November 05, 2013 01:29AM

Prof.Potbar Wrote:
-------------------------------------------------------
> Memories fade Wrote:
> --------------------------------------------------
> -----
> > You realize that Clinton LOWER capital gains
> taxes
> > right? And the windfall from THAT during the
> dot
> > com boom was the reason for the (not really)
> > budget surplus right? Until the bubble burst
> and
> > the market crashed and all went *poof* leaving
> the
> > spending at a higher level without the revenue.
>
> LOL! The world's worst historian has spoken!
> Capital gains tax cuts were added to the middle
> class tax cut package of 1997 as the price that
> ever-blackmailing Republicans demanded for the few
> votes Clinton needed to pass the important stuff.
> The expansion had meanwhile long been underway,
> and so had the so-called dot-com boom which is is
> still sailing right along, by the way. And the
> budget surpluses in FY 1998-2001 were entirely
> real. $363 billion of debt held by the public was
> bought down using those supluses. Unfortunately,
> a crisis of confidence in the newly appointed guy
> was driven by idiotic tax cuts for the rich into a
> shallow recession. It took the tragic events of
> 9/11 to give us something more important to worry
> about, but Bush's economic policies were an
> absolute disaster from start to finish.
> Republicans just can't do economics. At least not
> this latterday bunch of losers.


BS. The debt did not go down. All that was done was to shuffle excess off-budget money between public and trust fund debt in an accounting transfer. The real total debt increased each and every year as anyone can see by looking at Treasury's own data:

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm

The primary source of excess revenues were in fact primarily from the capital gains windfall as can be seen in IRS' revenue source data when it jumped from 9% to 12% accounting for virtually all of the difference claimed as surplus.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: JLL3L ()
Date: November 05, 2013 01:32AM

Bong Hits Wrote:
-------------------------------------------------------

> As far as Obummer's Care -- yeah, it's all right
> wing nonsense, until it's your ass whose policy
> gets cancelled.


That's the problem that they have with this one. People see the effects directly for themselves and in very clearly quantified terms and they can't spin that.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Bong Hits ()
Date: November 05, 2013 01:34AM

The boom times of the Internet Bubble were created by the Federal Reserve easy money. Hence the so called 'budget surplus'. Once the Fed saw the markets crashing after the bust and 9/11, they tried to re-inflate another bubble -- and succeeded, which gave us the housing bubble.

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Re: O'Bummer's Signature Achievement is a Disaster!
Posted by: Bong Hits ()
Date: November 05, 2013 01:35AM

Who are YOU going to believe -- your own lying eyes, ears, and cancellation letter from your insurance company, OR O'Bama and DNC ?

We already know the answer.

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