National debt exceeds $13,000,000,000,000.00

[CycloWizard]

What does feeling have to do with anything here?

Bush advocated for more home ownership in the early 2000's. Moron Dems in congress blocked a chance for more reform.

My main issue is that CycloWizard is blaming too much regulation on the crisis which is laughable.

It was the regulations which made banks take on risks which they would not have taken on otherwise. Damn them for trying to turn a profit when government forced them into a guaranteed losing proposition! Give me a break. You force them to take on a portfolio against their better judgment, then blame them when they try to turn it to their advantage.

 

[Jadow]

really wish they'd passed that balanced budget amendment in the 90's

This article is really depressing

http://www.marketwatch.com/story/cr...et-liquid-now-2010-05-25?reflink=MW_news_stmp

 

[Throckmorton]

It was the regulations which made banks take on risks which they would not have taken on otherwise. Damn them for trying to turn a profit when government forced them into a guaranteed losing proposition! Give me a break. You force them to take on a portfolio against their better judgment, then blame them when they try to turn it to their advantage.

Is there anything you don't blame government for?

 

[CycloWizard]

Is there anything you don't blame government for?

I call it how I see it. Is there anything you don't think government is the solution for? If you disagree, feel free to say why.

 

[Throckmorton]

I call it how I see it. Is there anything you don't think government is the solution for? If you disagree, feel free to say why.

Judging by your posts, government failed badly at teaching you critical thinking skills.

 

[CycloWizard]

Judging by your posts, government failed badly at teaching you critical thinking skills.

Apparently, my critical thinking skills are good enough that you won't even attempt a refutation of my claims. Oh, and I got a private education which taught me all about logical fallacies...

 

[Throckmorton]

Apparently, my critical thinking skills are good enough that you won't even attempt a refutation of my claims. Oh, and I got a private education which taught me all about logical fallacies...

What claim am I supposed to refute?

 

[heyheybooboo]

So your point is that when I say to stop spending during the recession that I am wrong because Bush and Reagan spent during recessions and that I am Bush and Reagan. I got you.

CHANGING THE SUBJECT ALWAYS WORKS!

You are wrong because tax-cut 'Voodoo Economics' has proved to be seriously flawed over the last 30 years and you have little, if any, understanding of John Maynard Keynes.

But you persist in spewing sock-puppet "" tax cut!, tax cut!, tax cut! "" talking points when government tax receipts are at their lowest level of GDP since the 1940s.

You are even more of a joke (and dolt) when you Fail to recognize how the economy and Federal Budget reached its current state (so it is safe to assume you are such a mental midget you could in no way draw the distinct parallels between the leverage used in the 1920s stock run to the leverage used by banking institutions the last 10 years in an exploding derivatives market).

So give up. You and your mutual-masturbation with your tag-team buddy Cyclo-Clown are living in Bizzaro World.





--

 

[Budmantom]

B-B-B-BOOYAAAAH!!

http://www.usdebtclock.org/

What we need now is somebody that knows nothing about economics or job growth but somebody that has experience as a community organizer and can give a mediocre speech.

 

[CycloWizard]

So give up. You and your mutual-masturbation with your tag-team buddy Cyclo-Clown are living in Bizzaro World.

Ah, the ever-predictable retort of the imbecile who can't argue with the opposition's logic.

 

[totalnoob]

Debt to rise to 19.6 trillion by 2015.

http://www.reuters.com/article/idUSN088462520100608

 

[Elfear]

What we need now is somebody that knows nothing about economics or job growth but somebody that has experience as a community organizer and can give a mediocre speech.

Lol. Nice.

 

[CycloWizard]

Debt to rise to 19.6 trillion by 2015.

http://www.reuters.com/article/idUSN088462520100608

*waits for Obama to appear in an iPhone commercial saying, "Need to magically balance a budget? There's an app for that!"*

 

[Trianon]

Good argument by Nassim Taleb:

http://www.cnbc.com/id/37610064

The economic situation today is drastically worse than a couple years ago, and the euro is doomed as a concept, Nassim Taleb, professor and author of the bestselling book "The Black Swan," told CNBC on Thursday.

Nassim Taleb
CNBC.com
Nassim Taleb

"We had less debt cumulatively (two years ago), and more people employed. Today, we have more risk in the system, and a smaller tax base," Taleb said.

"Banks balance sheets are just as bad as they were" two years ago when the crisis began and "the quality of the risks hasn't improved," he added.

The root of the crisis over the past couple of years wasn't recession, but debt, which has spread "like a cancer," according to Taleb, who is now relived that public attention has shifted to debt, instead of growth.

The world needs to prepare itself for austerity, he warned. "We need to slash debt. Unfortunately, that's the only solution," Taleb said.

Other analysts warned about austerity programs spreading from the euro zone to the US where the growth in debt will become unsustainable over the longer term.

Obama administration's efforts to pull the US out of recession haven't succeeded, according to Taleb. "It's not that they make mistakes, it's that they almost get nothing right." Moreover, a second major stimulus package may be futile, he warned.

"Obama promised us 8 percent unemployment through stimulus. It hasn't worked." There are significantly more liabilities in the US than in other countries around the world, he said.

"Don't give a junkie more drugs, don't give a debt junkie more debt."

 

[Darwin333]

Sure, the sub-prime mortgage problem was in part a combination of Bush having the GSEs ramp up to meet low income housing targets and the Dem tools in congress blocking reform, but you're being dishonest by ignoring the fact that a very large porition of the problem came from a push for profits from financial institutions and poor regulation of risk.

And it wouldn't have been possible if Clinton would not have signed the repeal of Glass-Steagall which was passed by a Repub congress.

Plenty of blame to go around...