All of the GOP cock suckers will come out of the woodworks to decry my title, as being “blasphemous,” since demoncrats are to blame for all of the world’s problems. I know. However, regardless of what they say, I think it’s fair to put forth the notion, through evidence of various insolvencies and the country’s balance sheet in the shitter, supply side economics was designed by idiots for imbeciles.
Essentially, the country was on the verge of collapse in the early 80’s. Reagan came in, all crazy eyed and shit, and ran up the deficit, like a crack whore in a crack house. As a result, the collapse was averted, or at least delayed.
However, many years later, with more than $50 trillion in the hole, the U.S. is on the verge of financial and social collapse.
I do not claim to have the answers to solve this crisis. But, speaking on a very personal level, when I was broke and living in a basement apartment in Brooklyn, my problems were not solved by jacking up my debit balances. Instead, I got all industrious and shit, hopped in my time machine, and made a gazillion dollars, the old fashioned way.
Deep in crisis, our government is trying to get “all Reagan” and shit again, via egregious spending programs. The only problem: this time around we are starting from a fucked up point, already in a lot of debt— with an annual deficit nearing $5 trillion (the highest since World War II). Last I checked, we were not at war with fucking Germany and Japan anymore.
This is some fucked up shit.
Go ahead, defend Reagan’s policies all you want. Back then, his policies yielded great results. However, it laid the groundwork, via building up government debt, that will eventually destroy the country.
Worth another look:
[youtube:http://www.youtube.com/watch?v=O_TjBNjc9Bo 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
Enter the funnel zone!
Fly,
Larry Kudlow called, he want his Reagan years back…and the clothes.
Mustard seeds, grow my darlings…Goldie Locks is back with a fucking vengance and she is gonna piss on the taxpayers of this country.
Trickle down baby
JakeGint to start whining in 3…2…1…
The Triumph of Politics: Why the Reagan Revolution Failed
http://www.amazon.com/Triumph-Politics-Reagan-Revolution-Failed/dp/0060155604
http://en.wikipedia.org/wiki/David_Stockman
Keynesian economics rules!
It’s kind of hard to sell ‘trickle down,’ so the supply-side formula was the only way to get a tax policy that was really ‘trickle down.’ Supply-side is ‘trickle-down’ theory. -David Stockman, Ronald Reagan’s budget director, who also wrote “[T]he whole California gang had taken [the Laffer curve] literally (and primitively). The way they talked, they seemed to expect that once the supply-side tax cut was in effect, additional revenue would start to fall, manna-like, from the heavens. Since January, I had been explaining that there is no literal Laffer curve.”
Time to buy some guns and canned goods.
Do not disparage the great Gipper, the Mighty One, Raygun the Magnificent. Surely rainbows of Skittles will pelt your time machine for this egregious affront.
Just read my books:)
Don’t lose faith their Fly. The Internets will save us. Just close your eyes and believe in the power of the Internets. The Internets has the power to cure are financial ailments. BEHOLD the power of the Internets.
The Reagan policy was based upon deficit spending for 1 purpose…military superiority and to spend the USSR into fucking oblivion. The nation’s economy was boosted as a secondary function. This was the time of the birth of our giants like Lockheed (now Lockheed Martin), Northrup Grumman and others..Certain areas of the country flouished but others we left in the dust.
The current situation is nothing like the 80’s..people and companies could use credit to span the time from bust to boom to bust…
This is a period (now) of Credit Destruction…the fucking life rafts are gone….people will be sucked down the funnel faster and faster as we go forward.
The toxic fucking assets, however they are defined today, must be eliminated and if it means bankruptcy to big banks,,let it be. Won’t happen so this shit will drag out for ever or what seems like forever.
Maybe we could pump AIG another 200 billion to support the European bank system.
Mustard seeds,fucking plant them all…they can’t grow in a credit desert.
Geeez Fly!
Did you have to break that to Jakegint? Couldn’t you wait until after Christmas?
What’s next? You’ll tell Jakegint Santa is not real?
Well, this is awkward, but since Jake isn’t here to defend Reagan, I will…
He was really good in “The Killers.”
Gonna go take a shower now.
-DT
Reaganomics and it’s success or lack of is open to personal opinion as are just about all economic theory. However, what isn’t in dispute is the fact the Gipper could could act. Check out Bedtime For Bonzo and Knute Rockne, and Cattle Queen of Montana.
By the way, much of the deficit could be attributed to defense spending which ended The Cold War. This allowed defense spending to go from 6.2% of GDP in 1983 to 2.9% of GDP in later years helping to create a surplus. The substantial tax cuts brought us out of the crappy Jimmah Carter economic disaster.
Oh Bullshit, Fly.
Reagan followed reasonable economic policies and made the world fucking safer without the worry of commie hurtling a ICBM over Brooklyn.
Tax receipts rose under Reagan. Even Bush’s tax cuts were paid for if he didn’t go crazy over Iraq as the country would have been running a surplus over those years.
Don’t blame fucking unstable monetary policy on Reagan, as you really don’t know what you are talking about.
However, it laid the groundwork, via building up government debt, that will eventually destroy the country.
How the fuck do you reach that conclusion?
In any event the current debt position in the US is not at record levels. It was just after the war
We were in the crapper before carter
Sure. Tax receipts went up, due to the economy rebounding.
The point here- without all of the deficit spending the economy would not have recovered so fast. It started this country’s addiction to debt.
You can thank the gipper for that.
As for defeating the ussr- whatever. The fucking government always comes up with a reason to steal.
The real problem is that we don’t have a guide, a marker to determine if monetary policy is on the right track any more. the inflation target is a crock of shit because it doesn’t measure inflation.
Greenspan let the money supply rip in the early part of the decade simply because the CPI was well behaved allowing all sort of imbalances to be created.
George Washington and his band of merry men are responsible for this problem. If they had taken it upon themselves to secede from the British Empire, we would still be ruled by Her Majesty and wouldn’t have these problems. Oh wait, the British are fucked worse than us. Ooops….
Go read some history!
Reagan was spending like crazy to TAKE DOWN THE FUCKING SOVIET UNION, comrade!
Not spending like crazy to buy votes and create a new socialist workers’ paradise, like the guy YOU voted for a few months ago.
Reaganomics worked. The crony kleptocratic state that followed – government of the people, by the Saudis, for the benefit of the Red Chinese – started with Bush I and continues today.
JC:
It must be cool to be so ignorant.
We’ve been eating the social security/mideicade funds for decades. Reagan accelerated Government borrowing, at a ridiculous pace.
Naturally, its initial effects led to a rise in the economy. However, let’s not forget the S and L crisis of the early 90’s and now.
And this is a fact: Our debt is at record levels to GDP. 2009 will mark a 5 trillion dollar deficit, asshole, while GDP contracts.
Moreover, counting all government entitlements, we are $50 trillion in the hole, right now.
Flux
If you choose to believe that crock of shit, go ahead.
It’s almost as if you think the government just starting lying to us now. You idiot.
Those fuckers have been bowling on you, well, forever.
Correction: I am sure all of the military spending was to defeat the secret/invisible war we had going on with those asshole commies.
Actually the crazy deficit spending can go back to LBJ and The Great Society as well as the spending associated with Vietnam. This laid the groundwork for inflation throughout the ’70s until Volcker laid down the hammer in the early ’80s.
I recall getting about 15% interest on a Merrill Lynch Ready Assets MMA in the early ’80s.
By the way, the USSR took themselves down, via, OH SHIT ALERT, debt!
Fly
Exactly..that was the period of massive credit expansion, both government and personal..the government is accountable to no one for their debt except history, children and now China
Individuals are accountable to their lenders..the lenders want their credit back and they could give a shit about the economy, the general population or their employees.
This period of time is about capital preservation and credit destruction….Americans have NEVER seen credit destruction
They will this year, 2 Trillion of personal credit whether it is cards, home equity lines, or through denial of credit outright will be felt by all of us.
Layoffs and lower wages won’t even keep Wal Mart growing in the US despite a larger client base.
We’re still fucked, we just borrowed the good feelings for 20 years.
TC:
Go read some figures. It’s not even close. Reagan went gangster. It was the first time the government went deep into debt, during peacetime.
Oh shit, there I go again. I forgot, we were “at war” with the Russians in the 80’s. I think I lost 10 family relatives in the Great American-Russian War of the 80’s. It sure did make wwII look like a walk in the park.
You don’t tighten deficits is a recession!
They tried that shit in the 30’s and it made the depression worse. Remember what i said one time. There is no such thing as a Greet Depression. It was a series of policy mistakes leading to rolling recessions over each other. Rothbard’s book is surprisingly good with this although he was a lunatic about most other things.
In any event the deficit issue was fought during the GOP’s attempt to close down the government and they were rolled by Clinton and the Dems losing seats as a result.
You really don’t understand recent US economic history if you blame the Gipper and the GOP over this.
The GOP lost the war over the spending issue. The knuckleheaded public didn’t support the GOP over the issue of slowing spending. Blame them!
————
Here’s how you can stop the recession/depression and return the economy to strong growth.
Lower the corporate tax rate to zero and freeze nominal spending for a decade and get both parties to sign onto to that. I guarantee you that every single forward indicator would be pointing higher with those two polices and the economy would return to full employment in 18 months.
The Soviet Union was on the verge of collapse prior to Reagan taking office. This whole ‘Reagan was responsible for the downfall of the USSR’ is bullshit.
The Fly sure knows how to pull in the Blog hits by pulling on the strings.
Wait until Jake signs in.
I predict a server crash.
Mustard:
The end game for people approaching bankruptcy is when they can borrow no more. That is the position the country will be in, within 2 years.
bored…working…reading….post some randomness…
citi downgrades LEN to Hold from buy tonight.. something about since 1/26 LEN is up ~36% versus the {peer} group which is up ~17%.
3.
0.
8.
Good luck on trades tomorrow…I’m gonna go borrow some good feeling for 3 hours out of a case of beer that I paid for with cash…..
Fly – No shit, the USSR’s military spending ran them into the ground. Why’d they do that? Because Ronnie was talking about putting artillery in orbit, and they were scared shitless. They thought the old man would really do it.
Preservation of the free world trumps short-term economic impact.
If your family grew up in the USSR, you’d have a different perspective on it.
You think the gubmint lies now? Wait until dear leader president gets his shit together, nationalizes everything, and gets the media back under control.
All one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot.
On Fri. PHM (Pulte Homes) was downgraded and the stock went up a bunch.
Who knows what will happen with LEN especially since they got a couple of upgrades last week.
It’s all noise.
Reagan was a great leader, in my opinion. However, my point with this post, he was a fucking jelly bean eating cowboy when it came to building a framework for an economy, long term.
We can all make it big, short term. But, can you keep it?
Jake is going to declare jihad!
I’m watching ALJ for a short. up 100% since Nov on decreasing volume. starting to research it a bit.
Dude,
The ultimate cause of the shit we’re in is the fed, starting in the mid 90’s they have been inflating the bubble and causing artificial growth. Keynes is for jackasses who think the government will actually spend other people’s money on productive shit and the period between ’33 and ’37 was good. When Obama proposes cutting marginal tax rates to 28% or drastically reducing corporate rates, then you can compare him to Reagan. Austrian economics is correct: human action cannot be modeled.
Flux:
The USSR ran an unsustainable model. Whether Reagan pushed them to the brink is irrelevant. After all, after you have 500 icbm’s, that should be enough no?
Let’s just say, for a second, that Reagan and his boys had other motives, aside from kicking the USSR in the pants.
Long story short: watch the 30 minute clip above.
Fly, you are dead on…
You have to know Fly that in the ’50s,60s and ’70s people were fearful of the Commies and their Nuke capabilities.
I recall having “Nuke Drills” in elementary school when we practiced hiding under our desks and going in the hallways and crouching like we were kissing our ass goodbye.
Good stuff for a kid. Kids were shitting Ovaltine in their pants.
Within 2 years the country won’t be able to borrow “more”….then what? Just run the presses? Nationalize assets, like 401k’s?
What’s the alternative to the death of Reaganomics? That scares me more than anything!
The plan is already being set right in front of our fucking eyes. Forty percent or less of Americans will pay taxes, and the other sixty percent or more will continue to vote to make sure it stays that way. Think about that!
However, my point with this post, he was a fucking jelly bean eating cowboy when it came to building a framework for an economy, long term.
Some things are more important than econommics!
Was the economy in the Colonies better before, during, or immediately after the American revolution?
The problem isn’t with what Reagan did, or failed to do. The problem is that since his time we’ve had nothing but shitbag leaders beholden to special interests and foreign powers.
Priority #1 for any President is to protect this country from enemies, foreign and domestic. In the absence of a legitmate military threat (and there hasn’t been one in 20 years) THEN economics should be the top concern.
That “unsustainable economic model” the USSR used lasted 70 years, dude.
I distinctly recall a comment Jimmy Carter made one two or three years after Reagan was elected. I remember this because I used to repeat it to people. It went something like this: “If I wanted to get re-elected, I too could have pushed the budget off as Reagan is doing. But I didn’t have the moral conscience to do this.” I also recall him saying back then that there would be major repercussions in twenty or so years. I haven’t Googled this but I know for a fact he said this or something like it back then during an interview. I also remember a sea change in New York–homeless people everywhere and the appearance of thousands of stretch limos…
Serenity Now!! Serenity Now!!!
As harsh as his sounds perhaps it’s time to dismantle the US in it’s present form. There’s no good reason to have a strong centralized government in Washington. Most of the taxing and spending power should be sent to the states to deal with and have a very weak central government as this shit isn’t working anymore.
If New York wants to run a welfare state all porked up it shouldn’t be taking money from South Carolina to do so. That would be the libertarian approach.
The other thing is to remove the power of the currency away from the Federal Government and possibly re-introduce free banking.
90% of current problems were created as a result of monetary disequilibrium.
Very “Ron Paulish” in here.
The Flea is wise beyond his years. 8)
Prof
Did tax receipts go up under Reagan. Stop plugging Carter. He was one of the worst prez’s up to that time.
Jimmah Carter was one of the worst Presidents and maybe the worst ex-President ever.
But his brother Billy should could brew the beer.
His BillyBeer tasted like camel piss.
Class warfare will kick into full effect if things really go down hill from here. Put enough of the population out of work and the remainder working harder for less and you’ve got a recipe for class revolt. If you make over 250K a year, well fuck you. Progressive taxation on individuals will bring back Carter era memories.
Some nut will rise to Hitler-like status in a financially ruined Europe. History has a funny way of repeating itself.
Fly, finally gets it. How long have I been railing against supply side economics that only benefited the elitist 1%ers?
Now you know why we go back to 1982 where our bullshit economy started and start over. The only thing that has been trickling down from our political and business leaders is piss. S&P 150.
Does anybody remember when Obama started campaigning he was quoting Reagan left, right, and CENTRE [sic]?
Heard the O mention Reagan much lately?
Straightforward intra-party politics then has given way to desperate deal-making between parties now, but setting deadlines in this environment – and then postponing them – that is insane – you’re bound to disappoint and, worse, panic some of the people who actually listen to your “catastrophic” references.
Rubes are stilling running DC, and futures are reflecting it tonight.
Great post.
Hop in your time machine with a copy of today’s newspaper and see if the Gipper would do anything differently once he knows how things turned out.
According to Fly’s basic criticism’s of Reagan, you should never cut taxes in a recession because that means , er well you know the deficit going up and that’s bad because …. well the truth of it is that’s bad the left will at some stage use that as an excuse to ruin the country with a spending binge.
So don’t vote in the fucking left!
Romney and even Hillary was the better choice candidate. However because there are so many Americans wanting to prove they’re not racist they voted in the most liberal, left wing candidate who is about to spend 850 billion on pork.
good work guys.
Fly, you voted for the fuck, so stop whining.
J
Applying the Joe Biden theory of Iraq to our nation who has already fought a war over the same principle you propose is not an answer. By the way the south lost (still).
The problem is no one in DC will address this issue head on, there must be accouting or elimination of the “toxic assets”. Nobody will let those holding the bag lose.
The shock to the market if they did let someone else lose would be staqggering (Maybe we’ll see Tuesday) but as a whole to the economy it may not be that big of a deal.
We have two issues now, federal expansion of the debt to cure an undefined private market banking problem. No one will state the size of the gorilla…you can’t fix something till you know the problem.
The economy will stagnate and fall till the toxic asset isuue is resolved since there is no or limited credit.
In this environment you can drop tax rates but if there is no or limited purchasing of goods after the tax cuts where did you get.
J
I wasn’t plugging Carter, but you present no evidence whatsoever that he was “one of the worse Presidents ever.” As for tax receipts under Reagan, who cares about the tax receipts if the overall balance sheet is fucked? I knew it at the time. I know that Carter said it. But Reagan turned the economy into a war economy in the 80’s, he stimulated through massive war spending, among other things and supply side, trickle down economics. It was a no-brainer. There have been lots of culprits along the way but there was a shift when Reagan was elected toward massive deficits. Of course, Bush put the cherry on top of it all. I am not sure if Obama has a conscience. I know Carter did, I know that Gore, as wooden as he was, did. For all his faults, Carter didn’t make “sky-diving” his greatest accomplishment after leaving office.
I don’t know much about Jimmy Carter … he was before my time. But I do remember my grandfather (who was a winner in life, like his grandson Donny), bitching and complaining about all the fucking taxes he paid when that “Peanut SOB” was in the White House.
I don’t know much about Jimmy Carter … he was before my time. But I do remember my grandfather (who was a winner in life, like his grandson Donny), bitching and complaining about all the fucking taxes he paid when that “Peanut SOB” was in the White House.
Blasphemy….
Reaganomics allowed for wealth to be had by all. You just had to go and grab it.
If you were a sheeple then you were subjected to loss of social benefits, health care, and wages adjusted for inflation.
There is no free lunch. If your going to bend over and take it from corpamerica then you you did nothing to climb the social latter.
We have allowed for the making of our bed. Now it is time to sleep in it.
You fucked up America by being greedy, selfish, and complacent over political candidates….
The Reagan tax cuts where the only thing that got the country going.
I remember a couple drunks from mass.holding the defense budget hostage,just to get their spending.
j, why don’t you put your own fires out and stop trying to run America?
It all boils down to the law of the jungle.
As time goes on the laws change. Nothing is stagnant. To talk about Reaganomics being the cure all is as retarded as saying that Marx was wrong about everything. The truth is that nations need to evolve to new threats and this requires new thinking. While it is helpful to look a history, getting bogged down in ideology is not.
Ultimately, nations are like people (animals). They do what they perceive at the time of their existence to be the best course to positively affect their survival.
Fortunately, for us (as a nation), we are in the best position going into this fucking mess. This means (statistically) we have the best chance for getting out on top. Good news for the majority of the readers on this blog (those who are fortunate to be relatively wealthy), you have the best chance to get out of this at least equal to how you went in (and for some in better positions).
In conclusion, collectively we are gonna feel some pain but we will recover. The only question that is relevant to this blog is what are we gonna do on tuesday?
PS the frog is a fan of paranthesis
PSS feel free to correct my drunken spelling and sentence structure if your worthless degree in english dictates that it is worthwhile.
Prof:
Foreign policy under Carter; Soviet encroachment everywhere, allowing those fucking homo’s to take hostages in Iran,
the national malaise speech,
publicly saying the presidency was too big for one man,
the misery index at an all time high.
Even a rabbit attacked the fuck.
Tax receipts went up in the US because over a period of 8 years the US created GDP equal in size as west Germany at the time.
The democratic congress wouldn’t allow Reagan to freeze spending. IF they did the US would be swimming in surplus even with an increase in defense spending.
Gore is a fucking idiot. Period. HE would have ruined the country even more than Bush did. He lost because people saw that he was a complete turkey and still is.
He is also one of the most intellectually dishonest people in the country with a microphone. The drop out divinity student is now a climate scientist. LOL.
I never said the Bush’s were said good, so don’t use that strawman.
———-
Don (Donny) being boastful on this thread isn’t helpful. It cheapens the thread and brings it down a many notches STFU.
Mustard:
Sure, the best thing to do devolve power to the states and allow them to do what they want. The central government should be weakened as much as possible as they are too irresponsible.
…. and states like California would do just fine on their own.
Just say no to ponzi schemes.
Dave:
YES YOU CAN! If they spend more they they get they have to fire all those taxeaters and cut back on programs.
You can fix Cal’s problems overnight. Mass sackings of the tax eaters and program cuts.
Anonymous
States as a responsible party…hmmm
http://www.cbpp.org/policy-points10-20-08.htm
Just like NJ under Christine Todd, as federal taxes were cut by GWB, state shares of revenue were cut…So real estate taxes soared above the level of the federal cuts.
I do not disagree that there is a balance that can be reached…but we are way past the far left and far right theories.
The Chart Addict Says:
Time to buy some guns and canned goods.
Better hurry up brother, a lot of us have been preparing for months and firearm/ammo supplies are depleted. I ordered 1,000 rounds of ammo for my AKM in October. It was on backorder for months – just got it 2 weeks ago.
The Fly is right (but that goes without saying!) about the economy being fucked long before Carter. If I remember my history right, Nixon implemented wage and price controls that really started the stagflationary funk we call the 70’s and early 80’s.
Reagan was, as he is often called, a great communicator. He helped pull the country out of a psychological funk but did nothing to create a stable foundation for a thriving economy. And when he allowed congress to raise taxes in 1986…anyone remember October 1987? Of course you don’t, half of you didn’t have pubes in 1987.
But blaming Reagan for the entire fucked up political system we have allowed to exist is silly. The congress is the culprit and unless that biological anomoly doesn’t change (535 members and not a pair of testicals in the bunch), we are truly fucked.
Fly, I agree. It’s funny how some people don’t realize they’re getting fucked up the ass…and they find shelter in quaint, one liner, Republican/Democratic mantras/creation myths.
I guess that makes it easier for the government to do all that fucking.
You know what’s the easiest job in the world? Thinking up ways to spend other people’s money. That’s what every elected official does for a living.
Great post.
Listen to the Fly…charts don’t lie
look at the deficit spending that
started at the end of 1981 and
has not stopped. It’s been all
monkey see monkey do, the bubbles
were being rotated with massive
debt…what next? I don’t think Fly is
damming Reagan he’s just pointing
to the origin of the problem and their
has been a few congressman sounding
the alert for years, one being my
favorite – RON PAUL.
Monetary Policy-
You’re too old and boring for this venue.
8)
Fly:
You really are king of the Clueless. Everyone here picking sides — Reagan vs. Carter.
There’s no difference.
This country gave up on Democracy a long time ago. It’s just Corporations running the show now. Reagan helped Big Business, so did Bush, Clinton, and now — Obama – more than ever.
We’re not close to the bottom of this recession. Not until people finally stop whining at ‘democrats’ or ‘republicans’ and start screaming for the CEOs to die. It’s starting to happen a little bit. But not enough.
‘Change’ and ‘hope’ will only occur when we elect a 3rd party president. This country will elect a black, lesbian dwarf Democrat before a white man that’s not with the two main parties.
Let’s make some money!
Can someone gimme a call when the revolution starts . The number is 602-979-8432 . Thanks
meh. we’re fucked. get your guns.
Well Fly, you certainly worked up a frenzy on this one, good job.
I had to come back to it with my beer, to continue to borrow good feelings for a while longer and share thoughtful intercourse.
Just gonna sit on the side now, pop a Viagra so I can feel like I can fuck something, take my Ambien so I can fall asleep, the in the morning take a pill for my dry eyes that has side affects of nausea, difficult breathing, anal leakage and something else. But I have a pill for the something else, its side affects are only muscle ache and high heart rate.
But the CEOs and the government know what they’re doing making and approving my drugs…they are only looking out for my and all of our best interests.
Bag a bunch of money this week kids, up or down.
dumbasses
…now that was funny.
You’re too old and boring for this venue.
Yea Don (Donny), mom doesn’t put me in a daycare center where they leave you all alone on a computer terminal.
You’re such an idiot, Osmond.
The problem with Reagonomics is it didn’t go far enough in reducing the size of the FedGov due to objections by Congress. Despite what the video says, there was a war going on – the Cold War. In 1980, the number 1 fear of Americans was nuclear war with Soviet Union – after Reagan, that fear was eliminated. Reagan rearranged the budget to successfully fight that war.
Nobody wanted to return to the misery of Carter – nobody. Economic growth, productivity, and unemployment all kicked ass under Reagan vs. Carter. How do you explain a record productivity rate in “peacetime” if Reaganomics was simply taking on debt?
For a more insightful review of Reaganomics (good and bad) – see this:
http://www.econlib.org/library/Enc1/Reaganomics.html
It just didn’t go far enough.
Mustard:
Some of them will fail. Let them. that’s the idea. They wouldn’t have the printing press to bail them out and the people (mostly morons) would start having to really think about who they’re voting for.
It would also greatly reduce the ability of the center to engage in wars as the money would have to be filtered up through the states.
anybody else get reamed Friday? Here’s a piece of advice from somebody who’s probably twice the age of most of you clowns. When you’re up for the year, significantly as I was, 13% on total assets, just run away from the game for a while, take a break, because for your next move, the little devil in you, will attempt to give it back. I may be granted a reprieve here with the futures moving down, but had I just walked away when I knew I should have, I wouldn’t be in this position. Instead, I added onto my shorts right up until the close with deeper and deeper losses.
prof, no offense, but that’s idiotic.
Prof
What did you teach?
J
Literature. Have since retired following my shorts, mainly of the homebuilders (bzh being the largest position). I went in with heavy leverage the day prior to BAC upgrading them, December three years back. I had just memorized John Carter’s Mastering the Trade, had one of the first copies. Fortunately, my wife kept me in that first trade since in a matter of two days I’d lost almost half of everything that we owned.
Good for you prof.
My daughter going through her year 12 is doing English lit and loves it.
I’m happy for you.
Do be a little careful though. Please.
Sheezer, I go away for half a day and Fly becomes Madame DeFarge.
Most of you need a rudimentary education, and he’s playing up to that standard. Forgive me if I don’t rise to the bait. (That said, Thunder had a nice rebuttal, as did J).
“Reaganomics” or that loathesome leftism “trickle down” actually has a much more recognizable name: “Classical Economics.”
It’s the Keynsianism (again, all the rage) that you have to watch out for.
Like fish swimming in water, you’ve grown up so acclimated to government fuckery that you don’t even know how the world works without it.
I’d advise reading. More.
Jake out.
_____________
They were the best of times. They were the worst of times…
Hey, if Reagan was still alive and President, he’d likely nuke China, mainly because he’d be like 120 or some shit.
I just wanted to bring the conversation down a few ignorant notches.
Continue.
I could see that Reganomics was a fraud as a young teenager when it was introduced.
Why don’t all you americans go fuck yourselves. Your thoughts are a shame to the world. You idiots couldn’t win a war by yourselves since 1776. Reagan brought down Russia!! Get a fucking grip.
In other news, Canada is an irrelevant block of ice, so stupid our forefathers chose to not conquer it.
Canada and Britain kicked your colonial asses in 1812-13. There was no choice involved.
pffffffffffffff
Canada is a waste of earth and water.
No more oil sands for you.
futures sure look like shit. shocker.
Cool Fly, super cool.
I take shit all the time giving that point of view.
For everything except you going off on Canada
I am married to a Canadian, she is hot.
buy the gap down
Our situation was caused by a combination of a bewildering number of factors. So numerous and varied are those factors that no one person or subgroup within society can fairly be said to shoulder a lion’s share of the blame. Reagan’s contribution was crucial to the storm’s development, but the conditions that enabled him to make that contribution were put in place years, decades and generations before. The creation of the Fed got the ball rolling. FDR created of the nanny state. LBJ expanded it. Nixon dropped the gold standard so he could pay debt with devalued dollars. Carter made people impatient. Reagan cut taxes but couldn’t get spending cuts. Greenspan made a deal with the devil (wall street) and said he’d take care of them. Bernanke followed his boss’s lead. Now Obama is proving that he’s a lightweight and is getting rolled by Congress.
I just realized that the common thread running through all of this is that Congress has been there all along, providing zero leadership, showing zero insight into or understanding of how the economy works and generally fucking things up. You could give Congress a Grand Unified Theory of the US Economy and they’d make a paper mache boner out of it.
And 96% of them get reelected every time. We’re doomed. Doesn’t matter what theory we try to abide by.
Mdawsz that may not work tomorrow, you have to see how the first lows and swing high goes.
wow, the bloomberg front page is loads of fun tonight.
Danny, we’ll see, but tomorrow morning I’ll be going in looking for a fill of the gap down.
thats what Im saying. If the first lows hold and are breached to the upside, then the fill is tradable, but if the lows break then it could be a formula day where we end at the low.
Seriously Fly, we leave alone unsupervised for the weekend and this happens. It’s tragic really. It’s a freaking tragedy.
I want to speak to your wife or adult supervisor to see if she can knock some sense into you and make sure you don’t go wondering around out of the reservation.
Aboriginals call it “walkabout”. They may be working at a job and then out of the blue they disappear for 2 weeks and no one knows where they went.
Are you part aboriginal fly?
It almost sounds as though Fly is like putting his trust in Nancy Pelosi and harry Reid.
Please.
The Democrats are children. Look at them now, running around like headless chickens.
I hate all, equally.
this s&p 850 level has become a cold war.
Fly:
The GOP in the 90’s had tried to push through a balanced budget amendment and they were trounced because of Democrats dishonest attacks. that would basically have completed Reagan’s revolution.
However the Dems have basically created a sort of indiocracy in the populace through bad ed etc.
Ever see the movie Indicoracy? Some one like you gets in a time tunnel goes to the future and finds a population with an average IQ of 60. He is the smartest person on the planet.
Dude, quit sucking the pants off republicans. It’s so embarrassing, i almost feel like banning you out of mercy.
Do you realize how much of a “party liner” you are, unable to think outside the box. It’s almost as if you’ve been punched in the face by Newt Gingrich a few thousand times, giving you Stockholm syndrome or some shit.
The time for pointing fingers is over. It is time to say “they all created this problem.”
My criticism of “RAY GUN” is not because he is GOP. But, he marked the beginning of going into egregious debt, during peace time. I know, we were “at war” with an invisible army. I know.
Get your fucking head out of the sand, son.
Reagan proved that deficits don’t matter.
No, they ALL didn’t create this mess. All the Dems did and some of the GOP. There’s also the level of degree which you, like some of my libertarian bros in Oz don’t seem to get.
I prefer the GOP out of the two parties as I think they demonstrate a little more sense than the other one.
Bush tried to repair Socials security but the Dems stopped him. I despise the Dems because they truly are to one of the worst leftist parties in the world. This doesn’t mean i excuse Bush and the GOP for willful wrongdoing.
Here’s the thing. No government should be allowed to borrow to fund on going liabilities. They should only be allowed to borrow to fund an infrastructure project and only when the project shows through a cost/benfits analysis that it will pay for itself and the loan.
Idiocracy, j, Idiocracy. As in idiots, not indies.
j’s trying to prove that I don’t matter
Not for nothing Fly, but unless I’m mistake the GOP isn’t buying into this more borrowing crap to save the economy, so wtf are you talking about. The Dems are the ones steering the economy into the abyss.
—————-
Oops
Should have proof read. Thanks Peezy
Synopsis
Idiocracy is a 2006 American dark comedy directed by Mike Judge, and starring Luke Wilson and Maya Rudolph. The two main characters are taken into a top-secret military hibernation experiment that goes awry, and they awaken 500 years in the future. They discover that the world has degenerated into a dystopia where advertising, commercialism, and cultural anti-intellectualism run rampant and dysgenic pressure has resulted in a uniformly stupid human society.
A narrator explains that natural selection is indifferent to intelligence, so that in a society in which intelligence is systematically debased, stupid people easily out-breed the intelligent, creating, over the course of five centuries, an irremediably dysfunctional society. Demographic superiority favours those least likely to advance society.[1] Consequently, the children of the educated élites are drowned in a sea of sexually promiscuous, illiterate, alcoholic, proletarian peers.
In 2005, Corporal Joe Bauers (Luke Wilson), a US Army librarian graphed as the Army’s “most average” soldier, and Rita (Maya Rudolph), a prostitute whose pimp, Upgrayedd, is paid to make sure she’s not missed, are guinea pigs in a secret, year-long, military hibernation project. They are sealed in their hibernation chambers, to be awakened a year later, but the experiment is forgotten when the officer in charge, Lieutenant Colonel Collins (Michael McCafferty), is arrested for having started his own prostitution ring under the tutelage of Upgrayedd. The military base is demolished, and a Fuddruckers (eventually devolving into Buttfuckers) is built on the site.
.En route to the time machine, Joe and Frito find Rita. She does not know that she’s been asleep for 500 years until Joe tells her, and even then, she thinks Upgrayedd will find her. Frito leads them to a city-sized Costco, where Joe is re-arrested when he accidentally scans his barcode; instead of prison, Joe is delivered to the White House. President Dwayne Elizondo Mountain Dew Herbert Camacho (Terry Crews) has seen Joe’s I.Q. test (scoring him as the most intelligent man in the world) and recruits him as Secretary of the Interior to correct the United States’ food and crop shortages, dust bowl, crippled economy, mountains of garbage, and related matters. The other cabinet members are lampoons of contemporary politicians, displaying the practices of nepotism, conflicts of interest with corporate lobbyists, corruption and a fixation on sex appeal in the media’s political coverage.
http://en.wikipedia.org/wiki/Idiocracy
http://www.youtube.com/watch?v=L0yQunhOaU0
the trailer.
I respect ideologues. I really do, partly because I admire those who have faith in things.
However, I got news for you party suckers, there is no such thing as political parties in the U.S.
The whole act is a show. There is one political party and it’s called The U.S. Government.
Sorry to disappoint.
Oh, and Santa Claus is fake too.
Goodnight.
you fuckers have no respect and no knowledge of history.
relax, in the long run we’re all…
J,
Before I go to bed, I need to jump in real quick here to set the record straight. Seriously, you are clowning up this board with zany right-wing assertions (by the way, I’m neither a liberal nor a conservative — just a Brazilian with common sense and a sense of history and facts).
Let’s just focus on Social Security Reform for a second. Your claim that Social Security reform failed to gain traction due to the Dems is cynical and false.
In a nutshell, Bush’s answer to fixing Social Security was to boost the programs returns by investing some of the money in private accounts.
Yes, the democrats were against the White House proposal. But the American public also overwhelmingly rejected private accounts in a survey taken in a March 2005 CNN/USA Today/Gallup poll (53% opposed and 33% supported).
http://www.cnn.com/2007/POLITICS/02/06/bush.budget/index.html
And in spite of democratic distaste for the private accounts Social Security idea floated by the White House, it still would’ve cleared both Houses of Congress if Republicans had coalesced behind a bill. But they didn’t. The party split into numerous factions, each supporting a particular set of ideas. The lack of unanimous support for the White House bill by the GOP, which, at the time, controlled the Senate and the House of Reps, is, ultimately, what sank Bush’s Social Security reform.
And, to be quite honest, thank God the private account model got dumped. You see, at the time, the SP-500 had been rallying for about 2 and a half years, and the backdrop was bullish — everyone felt great about the stockmarket, including Bush.
The 7%-per-year average returns clocked by the stock market the last 100 years kept getting thrown around by some conservative economists as a compelling statistic to lend credence to the plan. But the 7% figure works out normalized over a friggin’ 100 years. If you begin that investment process at a major peak in the stockmarket (which was the case just a couple of years into Bush’s second term, in late November 2007), you better hope you live to be 125 years old, or returns may be significantly depressed (defeating the whole purpose of private accounts).
And forget waiting 100 years. The idea behind private accounts was precisely to improve the dire state of the Social Security Trust Fund in the short and medium terms so as to push back its projected insolvency date beyond 2017 (by the way, the 2017 date was projected by the trustees themselves in 2005 — who knows what the date is now given how fucked the economy).
So, J, let’s step off the partisan chair for a second here.
J,
Here are some extra links I forgot to add to my post:
http://www.bloomberg.com/apps/news?pid=10000103&sid=aznYAcHY7TO8&refer=us
http://www.michigandaily.com/content/social-security-insolvent-2017-trustees-say
Enjoy..
Face it, all of you don’t know shit.
Jump off a bridge.
Phil:
If there’s no growth in the economy people wouldn’t receive their money either from the semi privatized method from Bush proposal nor from the current government system as there won’t be any money. So A privatized system would reflect the loss of wealth right now, however if the economy remain this way the government system is hiding the fact that you simply won’t get any (the promise) of your money. It’s basically the same. Well actually it’s not as the government will simply renege on its promise. All forward estimates are based on healthy growth estimates.
——–
Fly looks at the deficit/ borrowing and it scares him to death, blaming Reagan. He doesn’t realize that it’s economic growth that cures most ills. If you set your economic policies toward promoting growth, push the long term growth trajectory to to a higher plane and clamp spending by slowing it down of simply freezing it, today’s deficit won’t be a problem.
here:
Current GDP $13.5 billion growing at 1.5% to 2050 = $25 trillion.
Current GDP $13.5 Billion growing t 3.5% to 2050 = $56 trillion.
That’s fucking why Reagan policies were a long term success. He was able to accelerate the long term rate of growth. His policies made it possible to widen the PE ratio and lower the risk premium for stocks as people felt comfortable about the ling term picture.
it’s like an accountant with eye shades worrying if he balanced the small dollars and cents instead of looking at the big picture.
And no, Fly, I’m not a conservative. I’d be voting libertarian if I was in the US like I do here.
“Sanity” go suck dick.
I am very sorry for my sons behavior. I should never have let him out of his cage. Just ban him.
Why are you too frightened to say that under your own name you cowardly fucking clown.
J filling in aptly for the absent douchebag JakeGint… some loyal following you have Fly… are you really Bill O’Reilly blogging about stocks? hahahahahahahaha
Anyone who doesn’t appreciate the commentary and viewpoints of J or Jakegint has a high probability of being short in stature, bearing extremely small hands, or both.
I am very sorry for my sons behavior. I should never have let him out of his cage. Just ban him.
Looking at DHI as a possible short, thinking around $9.50 – $10.00, fucker’s been running pretty hard, maybe needs a breather
Will someone please stab Steve Leisman?
Buying a little TNA into the inevitable shithead party @ open. Hell, HIG.
new post up.
Our government/fiscal policies started going south Because of that fucking peckerwood LBJ and his insane social programs, once that snowball srarted rolling they never looked back.. new and larger programs every year and never eliminating one..Congress fucked everything up year after year ..more and more pork. Christ the congress controlls the budget and loads it with absurd wasteful spending year after year..look at the current situation..They never put the well being of the country ahead of their own self interests
Fly, here you are wrong. Reagan was the best president of my lifetime. He had two enemies: communism and big government. He defeated the former and tried his best to reign in the latter. Unfortunately, we are a country of pussies and over time have become dependent on big government. Ex the military spending that defeated the Russkies, even Reagan couldn’t control the size of government (welfare, Medicare, pork, etc.). We could use The Gipper now. While I wish Obama success, I am afraid that he loves big government as much as Reagan hated it.
Reagan formally recognized Vatican city as sovereign.
**There is a reason for this, and a bigger reason we did not recognize them prior.
*Check out the 4 people that were hung for the Lincoln assassination and father Charles Chiniquy
http://en.wikipedia.org/wiki/Charles_Chiniquy
It’s too bad that more people don’t have your common sense.
Only the fools in Washington would believe that more debt will “cure” our problems. The solution cannot be the same as the problem.
If anyone cares to discover the root of this problem click on the link below.
http://www.discoverthenetworks.org/Articles/theclowardpivenstrategypoe.html
Any comment Fly ?