United States Heading towards a Depression?

Discussion in 'Politics & Religion' started by decoyjames, Dec 27, 2007.

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  1. ferret77

    ferret77 Heretic

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    #1361
    ummm, as much I as I hate paying taxes how exactly is eliminating all that tax revenue going to reduce debt?

    the whole tax cuts increase revenue has been pretty throughly debunked hasn't it?

    Plus I love that death tax, who better to tax then rich kids

    [​IMG]

    60% coming from?
     
    ferret77, Apr 21, 2008 IP
  2. Mia

    Mia R.I.P. STEVE JOBS

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    #1362
    I sometimes wonder if selective reading is the same as selective hearing... Where did anyone say anything about eliminating all tax revenue?

    No...

    More often than not, death tax equals digging into your own pockets to pay for burial and beyond....

    ]

    [​IMG]

    Assuming people are allowed to opt out of these programs for a private fund, that coupled with corporate income tax going to the worker, not the government in the way of health care and personal savings accounts/401k.

    We cannot keep feeding the current system. And again, I've never suggested eliminating it either. In any event this is only a portion of that 60% figure. You have to dig deeper to pin point the true waste which has nothing to do with SS.
     
    Mia, Apr 21, 2008 IP
  3. guerilla

    guerilla Notable Member

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    #1363
    Interview with Peter Schiff
    http://blog.mises.org/archives/008039.asp

    This is a wonderful interview with Peter Schiff. I highly recommend giving it a read.

    It's like a crash course in economic reality. 5 stars.
     
    guerilla, Apr 21, 2008 IP
  4. ferret77

    ferret77 Heretic

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    #1364
    When I said "all that tax revenue" is was in reference to that taxes you said you would eliminate

    are you sure?


    ? death taxes are for people with millions
     
    ferret77, Apr 21, 2008 IP
  5. bogart

    bogart Notable Member

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    #1365
    bogart, Apr 22, 2008 IP
  6. wisdomtool

    wisdomtool Moderator Staff

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    #1366
    This is only the European side of things, do not forget Asians are also huge buyers of American derivatives. Just that Asians are more demure, they will try to cover up till they can no longer do so.

    I expect the Asian revelations to be scarier than the Europeans.

     
    wisdomtool, Apr 22, 2008 IP
  7. smatts9

    smatts9 Active Member

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    #1367
    http://www.guardian.co.uk/feedarticle?id=7477765

    This jumped out at me:

    Who let this guy be a, "head of trading"? What an idiot. This rights offering is at a 45% discount to yesterday's close.
     
    smatts9, Apr 22, 2008 IP
  8. wisdomtool

    wisdomtool Moderator Staff

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    #1368
    Don't worry he wasn't the only head of trading having such unique and brilliant thoughts, this was exactly what happened when Wamu did a cash call too. The market went up instead for exactly the same reasoning.

     
    wisdomtool, Apr 22, 2008 IP
  9. guerilla

    guerilla Notable Member

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    #1369
    IIRC, Royal Bank of Scotland are the people behind WorldPay (one of the better online processors)
     
    guerilla, Apr 22, 2008 IP
  10. bogart

    bogart Notable Member

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    #1370
    The unemployment numbers and inflation are the two numbers to watch. More people without jobs means more mortgage defaults. That's probably to simple for the Fed to understand.
     
    bogart, Apr 22, 2008 IP
  11. wisdomtool

    wisdomtool Moderator Staff

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    #1371
    Thats what the Fed had been doing all these years monitoring these two indices but nowadays they seemed to have their hands in everything.

     
    wisdomtool, Apr 22, 2008 IP
  12. smatts9

    smatts9 Active Member

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    #1372
    smatts9, Apr 22, 2008 IP
  13. guerilla

    guerilla Notable Member

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    #1373
    Here is another perspective

    Economics 101: The Price of Gas
    http://mises.org/story/2940

    Excerpt
     
    guerilla, Apr 22, 2008 IP
  14. smatts9

    smatts9 Active Member

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    #1374
    California's mortgage default notices are going c-c-crazy.

    Graphic

    Article

    Oh, and oil is $120.
     
    smatts9, Apr 22, 2008 IP
  15. guerilla

    guerilla Notable Member

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    #1375
    rotflmao.

    I gotta buy more gold ASAP.
     
    guerilla, Apr 22, 2008 IP
  16. smatts9

    smatts9 Active Member

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    #1376
    I'm glad to report that I went to buy some food, despite all this rationing & recession talk. I was doing great until I got to the damn bread aisle, and much to my disappointment there wasn't any. Talk about another-worldly pissed off I was. I hate shopping as is and the thought of having to go to another store was just too much. I started yelling at the manager in sign language, or I may have just been punching him? I don't know it is all a fuzz. But yeah there isn't any bread, wtf?
     
    smatts9, Apr 22, 2008 IP
  17. guerilla

    guerilla Notable Member

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    #1377
    smatts, were you serious about there being no bread?
     
    guerilla, Apr 22, 2008 IP
  18. wisdomtool

    wisdomtool Moderator Staff

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    #1378
    Flour has went up quite a bit, in many countries, they are subsidizing the essentials to prevent any rioting and issues of that sort. Guess you won't start rioting over bread in USA. But it is kinda worrying that if the world super power has no bread on its shelf, something is wrong. Hope that this is transient in nature, or smatts unlucky to be at the wrong place at the wrong time.

     
    wisdomtool, Apr 22, 2008 IP
  19. smatts9

    smatts9 Active Member

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    #1379
    Well, I mad it seem too bad, but they didn't have the bread I like. Absolutely no whole wheat bread without any high fructose corn syrup. They had overpriced bullshit bread which I refuse to buy. ;)
     
    smatts9, Apr 22, 2008 IP
  20. korr

    korr Peon

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    #1380
    Ahhh that's just "substitution" for ya. The actual food that comes out of the ground is too valuable, but once the vitamins & minerals are extracted for re-sale you can have what's left for only a bit more than last year.
     
    korr, Apr 22, 2008 IP
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