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  • No, the debt ceiling brouhaha does not make the U.S. a "laughingstock" - it's "exactly what America needs" to face the hard choices it must make, Evan Newmark writes. "Ask yourself... Would I rather have my politicians fighting each other in Washington over the debt ceiling today, or my neighbors fighting each other in the streets when the nation goes bankrupt five years from now?"  [View news story]
    We are well on our way to doubling our debt in short order. The problem with our government is they aren't talking about an austerity package. They aren't proposing cuts to the current budget, nor the budget after that, or the one after that. They're proposing changes that are far in the future. Our annual budget deficit isn't shrinking and they aren' t even proposing it should shrink. Next year's budget will be even bigger than this year which was a record budget and budget deficit. Each year will be bigger than the year prior. At the rate we're going, if Obama is reelected we will double our debt before his 8th year in office begins.
    Jul 29, 2011. 12:59 AM | 2 Likes Like |Link to Comment
  • No, the debt ceiling brouhaha does not make the U.S. a "laughingstock" - it's "exactly what America needs" to face the hard choices it must make, Evan Newmark writes. "Ask yourself... Would I rather have my politicians fighting each other in Washington over the debt ceiling today, or my neighbors fighting each other in the streets when the nation goes bankrupt five years from now?"  [View news story]
    Let's not lower Greece.
    Jul 29, 2011. 12:47 AM | 1 Like Like |Link to Comment
  • No, the debt ceiling brouhaha does not make the U.S. a "laughingstock" - it's "exactly what America needs" to face the hard choices it must make, Evan Newmark writes. "Ask yourself... Would I rather have my politicians fighting each other in Washington over the debt ceiling today, or my neighbors fighting each other in the streets when the nation goes bankrupt five years from now?"  [View news story]
    Monngie:

    I agree with your characterization of Trueconsevative.
    But I also know his attempt at sarcasm is a failure.
    Jul 29, 2011. 12:45 AM | 2 Likes Like |Link to Comment
  • Debt Ceiling Deal a Prelude to Ultimate Default [View article]
    The Brits have learned this lesson all too well. Those wealthy enough and capable of moving or running royalties through low tax European nations do so. The end result is less revenue with higher rates. We've already seen this happening with wealthy people filing taxes in Nevada, Florida, Texas, Washington, and Wyoming. While they still have to file federal taxes, higher and higher rates usually lead to more people hiring better tax accountants and paying less. Its the people earning between $250,000 and $500,000 that pay the full way while wealthy people pay even less.
    Jul 14, 2011. 05:03 PM | Likes Like |Link to Comment
  • Debt Ceiling Deal a Prelude to Ultimate Default [View article]
    "If the personal income taxes paid by the owner of a small business are increased a bit, how would laying off employees improve his personal wealth?"

    Of course that all goes back to how much his rates are increased. Business owners are risk-takers. Each new employee adds to the risk side of the ledger. It could be that he invests in training that individual only to see him/her go elsewhere after gaining a little experience, or it could be after training it just doesn't work out at all, or the added costs for workers' compensation, or a turn down in the economy, or the higher and higher cost of his healthcare premiums offset the added gain. Now you want to tax him more on his risk-adjusted return for having added one more employee? Why not just cut back on all that additional risk?
    Jul 14, 2011. 04:52 PM | Likes Like |Link to Comment
  • Debt Ceiling Deal a Prelude to Ultimate Default [View article]
    "us paying $400 a year more on drug costs is not a big deal"

    You're right! But then its also wildly inaccurate. The US pays exponentially more on a per capita basis than anyone else in the world for drugs.
    Jul 14, 2011. 04:44 PM | Likes Like |Link to Comment
  • Debt Ceiling Deal a Prelude to Ultimate Default [View article]
    "Cut 20% out of your budget or be replaced. THAT is real leadership."

    That's not leadership but just a simple answer to a complex problem. Some government spending can be cut simply but other things need a better approach. Some things are way, way over-funded such as National public radio which should be cut to 0, while other programs would cease to exist with a simple 20% cut. And what about programs like social security after a 20% cut? Some programs like healthcare need to be remodeled. If we were to just focus on the world's pharmaceutical firms both domestic or foreign invest in R&D due to the fabulous markups they can get in the US marketplace. The rest of the world provides slim margins and don't warrant investment on their own. European nations, Canada, and Japan buy drugs as regional blocs and can negotiate dramatically lower prices. South American and Chinese firms regularly pilfer pharmaceutical formulas to produce their own drug supply. Royalties are ignored.The end result is American consumers subsidize drug R&D for the rest of the world. This must change.
    Jul 14, 2011. 04:41 PM | 4 Likes Like |Link to Comment
  • Jim Cramer's "top picks for a vanishing middle class:" PRGO, THS, AZO, ORLY, FDO, SKS. Stay away from traditional defensive plays, he says, including CLX, CL and PG, since consumers aren't buying these marquee brands when they can get similar products for less money.  [View news story]
    Saks for the middle class? When did they become a discounter?Colgate has the cheapest toothpaste on my grocer's shelves. I think Jim is out of touch.
    Jun 21, 2011. 02:16 PM | 1 Like Like |Link to Comment
  • Dead bodies, diseased lungs and a man on a ventilator are among the graphic images for revamped cigarette warning labels mandated by the U.S. government now hitting store shelves. While the broader market rallies, tobacco shares lag: PM -0.6%, LO -0.3%, MO -0.3%, RAI -0.6%.  [View news story]
    The same government that taxes cigarettes and institutes such regulations refuses to ban cigarettes altogether. They realize tax revenues would go bye-bye.
    Jun 21, 2011. 02:12 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    My only problem with Bullard coming out now is he waited till after commodities reversed. Perhaps, he wants to use this as an example of more deflation and so more QE. I hope that's not the case, but I've grown a little cynical of motives.
    May 19, 2011. 10:56 AM | Likes Like |Link to Comment
  • "The still high price-to-rent ratio means that home buyers shouldn’t be in a rush to buy a home,"  Moody's Mark Zandi says, "but owning is quickly looking more attractive, and it won’t be long before owning is once again more financially attractive than renting." He expects house prices to stabilize in 2012 while rents will continue to rise strongly.  [View news story]
    Banks are currently thick in the process of moving their long-ago foreclosed properties. The inventory is quite startling and will take years to move. This will keep home values on a downtrend for years and not months especially while the unemployment rate is over 7%. What's more is homes bought on the cheap could be rented out with very competitive terms now that the startup investment has come down so much.
    May 11, 2011. 08:52 PM | 1 Like Like |Link to Comment
  • Boeing (BA) CEO James McNerney on the U.S. government suit claiming the company's decision to build its 787 Dreamliner plant in South Carolina was retaliation against the unionized workforce in Washington state: a "fundamental assault on the capitalist principles that have sustained America's competitiveness."  [View news story]
    I find it hilarious that the administration thinks they appear impartial because they've allowed the NLRB an attempt to circumvent the US constitution. The NLRB is about as impartial with their administration appointees as is the black chamber of commerce which Obama put together in the White House after the actual black chamber of commerce turned on him. How low will this administration stoop? Perhaps after the 2012 Republican primaries are over Obama will rule them not legitimate and then name his own opponent.
    May 11, 2011. 08:41 PM | 8 Likes Like |Link to Comment
  • President Obama makes an economic case to the middle class for immigration reform, saying the current system creates an underground economy "that exploit(s) a cheap source of labor while depressing wages for everybody else." While his proposed overhaul is initially costly, it could be a net gain to the national coffers as more workers come onto the tax roll.
     [View news story]
    "why in the hell would they continue to do backbreaking labor instead of finding a min. wage job and going on welfare/medicaid?"

    That's true about getting a better paying job, but the welfare/medicaid deal might get worse depending upon the level of income they receive. A lot illegals with children are already on welfare/medicaid. There income isn't on the books and they have children under 18, so they qualify for welfare/medicaid. Also because there income isn't on the books, some don't even pay the payroll tax. A lot of illegal aliens worked in the construction industry where they'd make $15/hr, no payroll tax, no income tax and because they had children they got welfare and medicaid and a free education for little Juan and Maria. Not bad at all.
    May 10, 2011. 10:09 PM | 4 Likes Like |Link to Comment
  • President Obama makes an economic case to the middle class for immigration reform, saying the current system creates an underground economy "that exploit(s) a cheap source of labor while depressing wages for everybody else." While his proposed overhaul is initially costly, it could be a net gain to the national coffers as more workers come onto the tax roll.
     [View news story]
    What makes you think only conservative business men hire illegal workers? Perhaps, you're assuming that only a conservative could run a business. Well, there may be some truth to that, but I can assure you some liberals run businesses too.
    May 10, 2011. 10:03 PM | 2 Likes Like |Link to Comment
  • President Obama makes an economic case to the middle class for immigration reform, saying the current system creates an underground economy "that exploit(s) a cheap source of labor while depressing wages for everybody else." While his proposed overhaul is initially costly, it could be a net gain to the national coffers as more workers come onto the tax roll.
     [View news story]
    I understand unless you pick vegetables for a living you're going to be less informed. But with that knowledge you best not pull figures out of the air. No, most all Americans won't pick vegetables for $10 an hour. That's approximately what a lot of migrant farm workers make in the San Joaquin valley. Its not all about how much. Its also about the fact that you spend your day bent over while under the sun. Not nice even for $10 an hour. A lot a migrant farm workers are also shorter than most Americans. It makes bending and stooping not nearly as difficult as it is for people 6" or 12" taller. There are labor unions for mexican farmworkers. Its not quite what you think it is. That isn't to say everyone is in a union or that some make less than $10/hr, but $2/hr? Get real.
    May 10, 2011. 09:55 PM | 1 Like Like |Link to Comment
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348 Comments
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