If you call someone a "Baffoon"...you need to spell it right.
Or it sort of ruins the effect...:lol:
The economy has been great since the Clinton crash of 2000.
Worst market crash since the Great Depression.
We are at a critical point in the economy where things could tip either way. Either we are at/near a bottom of the cycle OR things are going to get a lot worse. Keep in mind we haven't seen lines at the gas stations YET(as in the 70's), the Fed hasn't raised rates to combat inflation as they did in the early 80's (when prime was at 21.5%), no riots in the inner cities (as we have seen in each of the past five decades). Things could get interesting.
Artie ... that is why McCain is "looking real attractive"
Saturday, June 14, 2008
The Other List: McCain's Economic Advisers
Who are the people who have left McCain confused about his own opinions? Here are his economic advisers mentioned in the press:
Doug Holtz-Eakin source
Holtz-Eakin is a formerly respected academic and government economist who has been reduced to making distortionary arguments to paper over the massive deficit black hole McCain's tax cuts would create.
Arthur Laffer source
Laffer is the originator of the Laffer curve, the fringe view that claims government revenue increases when tax rates are lowered. There is zero empirical evidence this is true at current tax rates. McCain has repeatedly said that he believes this foolishness, but Holtz-Eakin has said (also repeatedly) that McCain does not.
Phil Gramm source
Gramm is a lobbyist who was vice president of one of the investment houses most heavily implicated in the mortage industry scandal. As a senator he pushed for the banking deregulation that contributed to the current crisis. See more here.
Kevin Hassett source
Hassett has been widely ridiculed for writing the book Dow 36000: The New Strategy for Profiting from the Coming Rise in the Stock Market in 1999, predicting that the Dow would hit 36,000 within five years, if not sooner.
Donald Luskin source
Luskin has been repeatedly named the Stupidest Man Alive by Brad Delong. See here for an example. I can attest based on my own interaction with him a few years back that in addition to being not the sharpest tack in the box, he is also an extremely unpleasant person.
Carly Fiorina source
Fiorina was spectacularly fired from her previous job as CEO of HP. According to the Times,
With clowns like these advising him, it's not surprising that doesn't even know what his own positions are on major questions of economic policy. Admittedly, there's a difficult problem of cause-and-effect here. Is he incoherent because he gets lousy advice, or is it his utter ignorance on economic issues that led him to seek guidance from this crew? As evidence for the latter hypothesis, he has said "The issue of economics is not something I've understood as well as I should," and made similar assertions on many occasions.
Saturday, June 14, 2008
The Other List: McCain's Economic Advisers
Who are the people who have left McCain confused about his own opinions? Here are his economic advisers mentioned in the press:
Doug Holtz-Eakin source
Holtz-Eakin is a formerly respected academic and government economist who has been reduced to making distortionary arguments to paper over the massive deficit black hole McCain's tax cuts would create.
Arthur Laffer source
Laffer is the originator of the Laffer curve, the fringe view that claims government revenue increases when tax rates are lowered. There is zero empirical evidence this is true at current tax rates. McCain has repeatedly said that he believes this foolishness, but Holtz-Eakin has said (also repeatedly) that McCain does not.
Phil Gramm source
Gramm is a lobbyist who was vice president of one of the investment houses most heavily implicated in the mortage industry scandal. As a senator he pushed for the banking deregulation that contributed to the current crisis. See more here.
Kevin Hassett source
Hassett has been widely ridiculed for writing the book Dow 36000: The New Strategy for Profiting from the Coming Rise in the Stock Market in 1999, predicting that the Dow would hit 36,000 within five years, if not sooner.
Donald Luskin source
Luskin has been repeatedly named the Stupidest Man Alive by Brad Delong. See here for an example. I can attest based on my own interaction with him a few years back that in addition to being not the sharpest tack in the box, he is also an extremely unpleasant person.
Carly Fiorina source
Fiorina was spectacularly fired from her previous job as CEO of HP. According to the Times,
... Republicans say Ms. Fiorina is using the McCain campaign to rebuild her image after her explosive tenure at Hewlett-Packard. They also say it is hard to see why a woman widely criticized for mismanaging one of Silicon Valley’s legendary companies is advising and representing a candidate who acknowledged last year that he did not understand the economy as well as he should.
Regarding Fiorina, Jeffrey Sonnenfeld, the senior associate dean for executive programs at the Yale School of Management, says "What a blind spot this is in the McCain campaign to have elevated her stature and centrality in this way. You couldn’t pick a worse, non-imprisoned C.E.O. to be your standard-bearer.”
With clowns like these advising him, it's not surprising that doesn't even know what his own positions are on major questions of economic policy. Admittedly, there's a difficult problem of cause-and-effect here. Is he incoherent because he gets lousy advice, or is it his utter ignorance on economic issues that led him to seek guidance from this crew? As evidence for the latter hypothesis, he has said "The issue of economics is not something I've understood as well as I should," and made similar assertions on many occasions.
Obama's closest advisor is CFR ...
The Bilderbergers are getting ready to crash Modern Day Rome
The FLOCKIES have no clue the damage inside the 57 pg CFR docs that
Bush signed in March of 2005 ...
Why do ya think Cheney dumped 25 mill into the Euro bond market in 05?
Why do ya think Bush is so lax on border security?
Why do ya think Bush is so lax on issues about Mexican trucks roaring into
the USA?
Our trucking industry .... see ya
Our borders w/ Mexico ... see ya
Our dollar .... see ya
Ventura and Paul ... I would vote for that ticket in a minute as Obama is simply the lesser of the 2 evils and less likely than McCain to get snap mentally and fire Nukes just "because he had the urge"
The Bilderbergers are getting ready to crash Modern Day Rome
The FLOCKIES have no clue the damage inside the 57 pg CFR docs that
Bush signed in March of 2005 ...
Why do ya think Cheney dumped 25 mill into the Euro bond market in 05?
Why do ya think Bush is so lax on border security?
Why do ya think Bush is so lax on issues about Mexican trucks roaring into
the USA?
Our trucking industry .... see ya
Our borders w/ Mexico ... see ya
Our dollar .... see ya
Ventura and Paul ... I would vote for that ticket in a minute as Obama is simply the lesser of the 2 evils and less likely than McCain to get snap mentally and fire Nukes just "because he had the urge"
hno:
The Clinton transfer of 8 Trillion Dollars to his corrupt cronies. Surplus???? :lol:
The Crash of 2000
From 1992-2000, the markets and the economy experienced a period of record expansion. On September 1, 2000, the NASDAQ traded at 4234.33. From September 2000 to January 2, 2001, the NASDAQ dropped 45.9%. In October 2002, the NASDAQ dropped to as low as 1,108.49 - a 78.4% decline from its all-time high of 5,132.52, the level it had established in March 2000.
Causes of the Crash:
The Crash of 2000
From 1992-2000, the markets and the economy experienced a period of record expansion. On September 1, 2000, the NASDAQ traded at 4234.33. From September 2000 to January 2, 2001, the NASDAQ dropped 45.9%. In October 2002, the NASDAQ dropped to as low as 1,108.49 - a 78.4% decline from its all-time high of 5,132.52, the level it had established in March 2000.
Causes of the Crash:
- Corporate Corruption. Many companies fraudulently inflated their profits and used accounting loopholes to hide debt. Corporate officers enjoyed outrageous stock options that diluted company stock;
- Overvalued Stocks. There were numerous examples of companies making significant operating losses with no hope of turning a profit for years to come, yet sporting a market capitalization of over a billion dollars;
- Daytraders and Momentum Investors. The advent of the Internet enabled online trading –a new, quick, and inexpensive way to trade the markets. This revolution led to millions of new investors and traders entering the markets with little or no experience;
- Conflict of Interest between Research Firm Analysts and Investment Bankers. It was common practice for the research arms of investment banks to issue favorable ratings on stocks for which their client companies sought to raise capital. In some cases, companies received highly favorable ratings, even though they were actually in serious financial trouble.
Let the goooddddddd times roll ....
Thank you Mr Bush !!!
"America is lucky to
have President Bush .."
What have the Dems done since back in control of congress. Didn't they run on getting us out of Iraq...didn't they just pass moore spending for the war. Doc, get real I know you have a hard on for Bush and I agree with that, but be fair both sides are taking us down the toilet.
:lolBIG: Say this politely bro. I suspect a local poster here "TomKing" is in the business and this shit sets him so bad..
Tom king..Just so you know, unless you are an independent trucker or small biz trucking will never go out of biz..
Bread will cost 10 bucks a loaf before we can say :howdy: to you guys.
Where the F@#k is Jimmy Hoffa when you need him..(Ironically Kennedy, Obama's idol killed Hoffa...not literally you bozos)..I would have loved to see a fire brand like that talk down to Bush about gas prices..
If he were in charge, DC would have been shut down months ago in those 60s style blockades..(or was it 50s)
