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As goes january, so goes the rest the of year:

Discussion in 'Political Discussion' started by Run DMC, Jan 30, 2009.

  1. Run DMC

    Run DMC Rookie

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    #24 Jersey

    Last edited: Jan 30, 2009
  2. atomdomb

    atomdomb Rookie

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    I think that 75% of the time we have a down year if the year starts with a down January.
  3. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    The frightening thing is that this is a global crisis that can only be controlled by people and corporations accumulating more debt. Capitalism survives only by growing; we may see out of necessity some new measures towards socialism if the markets cannot correct this problem with a substantial infusion of taxpayer money. It's an interesting and alarming situation. Those who call for less government, more government, lower taxes, or more taxes, I think are ignoring the fact that capitalism, like socialism, is flawed, and you can't look to ideology to solve the current crisis.

    What I wonder is if part of the solution would be to introduce an asset tax on the richest 1%. A 2% tax like that would net $350 billion/year, which would pay for major programs and would motivate the wealthy to spend more rather than keep accumulating. At any rate, I think the rich should pay much higher taxes because their return comes from the market, not tax savings. If they pay higher taxes and it generates a better economy, they will do well in the market.

    At any rate, ideological purists are wrong if they think Adam Smith or Karl Marx had the answer to the current crisis.
  4. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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    I'm hearing the same thing- U G L Y with a possible hyperinflation around the corner,like a few years away.

    I saw a CNN poll a couple of days ago which said almost a full majority of Americans wished they lived somewhere else. The poll didn't address "where" they'd like to be which is a dilemna because it's a global problem not just here:confused:
  5. PressCoverage

    PressCoverage Banned

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    Controlled... demolition.... of.... western .... economies....
  6. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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    Dave Lindorff: The Ugly Truth
  7. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    It would help if our President would stop saying things like "this isn't the time (for companies to make profits)" and if the Congress would stop passing almost $1T in spending under the guise of stimulus. I'm not saying this is all His fault but He sure isn't helping right now.
  8. maverick4

    maverick4 Banned

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    Dow 6000 and hyper-inflation coming to an American economy near you.

    There are so many reasons why we are going down and there is nothing we can do about it.
  9. maverick4

    maverick4 Banned

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    We're close now. Dow is about 7000 as of closing today.
  10. Real World

    Real World Moderator Staff Member

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    A few months ago one of the guest analysts on CNBC, a regular, was talking about a DOW 6,000, and the S&P at 700 (I think it was 700). Some people squawked at him, but he said he went through his analysis meticulously, and according to history, it all pointed to a DOW 6,000. The DOW was in the 8,000 range at the time. Anyhow, when people compare numerically based stuff like financial markets to history, I always pay close attention, and I remember him cuz of that. His comments are why I kinda feel like a DOW 6,000 is a likelyhood, cuz he wasn't making an opinion, he was stating numerical results based on historical, versus current data. If you told anyone year ago that the market was headed for 6,000, I think 99% of people would think you were crazy. Obviously it's not there (yet), but my goodness I'm going to drop some coin in when it does.
  11. Real World

    Real World Moderator Staff Member

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    We're getting closer to tea party time if you ask me.
  12. wistahpatsfan

    wistahpatsfan Rookie

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    #75 Jersey

    Why do you keep harping on Obama's tone? And then you say it's not all his fault...

    The biggest problem, IMO, is how CNBC spent last fall screaming doom if the banks and financials weren't bailed out. They should have been allowed to fail. The banks ripped off Americans via their TV shows (news networks) and if enough people had any balls and let the failing institutions actually fail, that might have sent a message to the rest of the financials that the free ride is over. It would have also sent the message to the rest of the world that America is not populated and managed by a bunch of Henny Pennys who panic at the first sign of trouble. Blame Congress (including Obama) and above all, Bush and his co-criminal traitors like the Secretary of Treasury.
  13. BelichickFan

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    #24 Jersey

    I said that almost a month ago, give me a break :D

    But I think I explained it fine - it's not all his fault but he sure 'ain't helping.
  14. maverick4

    maverick4 Banned

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    We are past the point of mass media and political faces flat out lying about the state of the economy. We had that the past 8 years and it only makes things worse.

    We will not hit a true bottom and then a recovery until we stop LYING to fellow Americans and start dealing in reality.
  15. PatriotsReign

    PatriotsReign On the Roster

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    On this I whole-heartedly agree.

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