Big Al and Trader Rog discuss politics (dirty or just inappropriate?)
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great comments….
Hi Karen,
I would like your opinion on the way the president handled the news conference held Friday a.m. I am watching it right now.
I am on record as saying that I do not support many of the president’s ideas. Having said that, I have no problem paying a bit more taxes. I am fortunate in that I can afford to do that and I do believe that the income statement of the U.S. has to experience higher revenues and lower expenses. Just makes sense to me.
Comments?
Big Al
Hi Al,
I find it painful to listen the president because of all the lies. 80% of the American people are sold on his debt deal?? His deal is to tax and keep spending!! Not sure what planet he is on but according to Gallop 50% say the deficit should be reduced through spending cuts with no tax increases or very small part of the package. Tax increases will hurt the job creators of this country. Tax cuts and spending cuts are the way to go.
Al,
Here’s an interesting piece from Paul Ryan: http://ow.ly/5FKkF
Hi Karen,
Boy, is it difficult or what to know when politicians are telling the truth or just partial truth. That is what is wrong with the good old U.S. of A.
I agree completely with your comments (along with others) about STOP SPENDING!
My comments, I guess, are coming from a perfect world where getting out of this mess involves no new spending, cutting much of the current spending and all of us paying a bit more taxes. In a perfect world that would solve the problem.
Unfortunately, we really don’t know what the heck politicians are really saying and where they want to go.
Sad, but true.
Best,
Big Al
Not just did the President walk out of the meeting as you mentioned, he dressed down Eric Cantor and Republican politicians started caving and trying to save their behinds by supporting Mitch McConnell by throwing Cantor (who is–along with Ryan–trying to do the right thing) under the proverbial bus. They are all distancing themselves from him as if he had cancer. Shame on them.
Here is the potential problem with the McConnell proposal. The president will raise the debt level, the Congress will not approve (by the simple majority vote necessary to prevent passage), and the President will then veto, which will force the Congress to attempt an override by a 2/3 vote.
Congress will not be able to muster an override (think about it … a 2/3 vote?? .. it will NEVER, EVER happen) and the debt limit will be increased, over and over again.
The necessity of a 2/3 override vote is the problem here. It virtually assures further economic decline and eventual economic collapse (along with the Fed doing QE ad infinitum). We already have an example of how this is likely to go. Look at what happened in California. Californians recently voted to eliminate the old 2/3 vote necessary to pass a budget, because the California government was unable, year after year, to muster a 2/3 vote to actually pass a budget on time. The chaos this created is legendary by now. Now, all that is needed is a simple majority vote to pass a budget in California, and things have begun to move forward. The McConnell plan learns no lesson from all of this, and actually moves in the opposite direction.
To summarize, among other things, the problem here is that the 2/3 vote that McConnell proposed is a receipt for disaster. It insures that the supermajority needed for an override will not be found, that the President can continue to spend, spend, spend, and that the debt limit will be increased ad infinitum. And this proposal … if you can believe it … was a Republican idea: a way to punt, instead of taking on the hard task of governing, and taking responsibility for doing so. The cowardice of throwing Cantor under the bus is another sign of what is wrong with this government. None of these signs are encouraging, and are yet further evidence of why betting against the government (to do anything right) is the only sane, rational policy. How to bet against the government? Buy precious metals. That is what I do.
Good evening timetoflyaway,
Betting against what is really a bad situation makes all the sense in the world. And, my friend, that is exactly what my wife and I are doing.
So far, it has worked (at least financially) really well.
I do feel a bit unpatriotic being so involved in hard assets and not buying Ford, GE or whatever. Know what? You can only take care of what is within your control. And, investing in the sector that we are investing in is under our control.
Best to you,
Big Al
I fully agree Big Al. I would add that any investment–in whatever sector it is–must (which goes without saying) make sufficient business sense.
Following up on your example, the fact is that American car companies simply have not been at the cutting edge of innovation, nor the forefront of change, for decades. Instead, they have been forced–kicking and screaming–to make various changes to be competitive, yet they are on balance still behind the curve, and even refusing to adapt existing, clever technologies that appreciably boost gas mileage. Now that is being unpatriotic! Not only does that force American households to spend more income on gas, but it also delivers those petro-dollars to our enemies in the Middle East. Under such conditions, I don’t understand what sense it would make to invest in these companies. There are better places to invest one’s hard earned money, especially with all of the looming economic uncertainty. That having been said, I share your sentiment: I too would prefer to invest in American companies/products whenever possible.
One more thing with regard to large American companies: if they took patriotism as seriously as you do, then they would keep jobs in this country, which would enable Americans to put food on the table and pay for a roof over their heads; yet in countless examples, American companies are not doing so. They are outsourcing and exporting jobs (i.e. gutting America). That’s not patriotic either.
So the bottom line is that when you look at what is going on in corporate America, nobody can reasonably find fault with your position.
Best regards,
TTF
Marxism has destroyed every country in which it has been practiced.
that’s strike 1
Government spending (Federal, state and local) now exceeds 40% of GDP
No country has survived very long at that level of spending, not even in feudal times.
That is strike 2.
Almost all US politicians are fighting for their own advantage, seeking to bribe their varous constituencies with the electorate’s own money, as is typical in the death of democracies. (pointed out by Alexander Titler circa 1770)
That is strike 3
I’m out of here. Just please hold things together long enough for me to get out.
If I live long enough, I’ll come back and visit after the riots have died down. I’m sure I’ll feel very nostalgic for the loss of the great country the US had once been, but I will not hang around watching the death throws. Sad, how sad the first black president cares more for himself, his party and marxism, than his country.
Is it true that Eric Cantor is a hedge fund manager by trade? I had heard on another website that he is invested in a bet that is leveraged double against the dollar, and will be be paid handsomely if the United States defaults. I think both sides are rotten in this whole affair!
This allegation was made by , I believe, The Huffington Post and on Max Keiser (quoting Huffington). If true, it is kind of troubling, but maybe not. If I were in Congress, I would try to get spending cuts, and like others have done, I might even insist on them in return for increasing the debt ceiling, but at the same time … I could still believe that the sickness of the system won’t let come to pass what the country needs, and therefore decide to own gold or silver (for example) as a hedge against the ineptitude that defines US politics. So, I’m not sure Cantor is automatically a traitor by what he is doing, but it lends itself to questioning his intentions and integrity. In either case, he isn’t the only one who questions the debt ceiling, but, instead, speaks for those who believe (like he himself appears to) that spending cuts are necessary.
The shadow government, certain powers behind our puppet president (CFR, Tri-lateral commission and Bilderberger men like Rockefeller, Kissinger, Maurice Strong,) want Obama to have total power to increase the Federal budget so as to by pass Congressional approval. This makes their job easier when you can control one man, namely, the president. Obama or his successor may become a dictator in the near future. I think Obama may win a second term which is unfortunate for our nation. Judgment is coming and is already here on many fronts. Our U.S. Constitution is already being trampled upon in many cases. The Republic is dying and unless drastic changes are made quickly will be lost. The attack on Libya by our President without Congressional approval reveals a dictator president at large.
Now it’s my understanding that Mitch McConnell wants to give Obama the authority to increase the Federal budget. Apparently, we have a gutless, corrupt congress who is totally sold out to evil corporate interests and globalists too. They must be pocketing some hefty bribes and bonuses. Woe to them! Washington D.C. (District of Criminals) have become an enemy to the people for which they supposedly represent. It’s all a shame and so their damnation lingers not. NOTE: The strength of a nation is tied to the strength of it’s currency. Unlimited budgets spell reckless spending and a collapse of the U.S. Dollar with the United States defaulting on it’s debt in the not too distant future.
We don’t need a balanced budget amendment. All we need do is not raise the debt limit. Then, the government will have to balance the budget. It will not have any choice in the matter.
Obama then has to choose. Either he pays the overseas investors the interest on those T bills or he can pay grandma her social security check. If he chooses to not pay grandma, that will be end of the Democratic party. The retirees will never forgive them. They will simply become one more smashed bug on the great windshield of history.
HELLO CHARLTON. I agree 100% with what you just wrote. Please go back to yesterday , i answered your comments . You can see what i see, so my solution may be drastic, but have the people got any other choice. WE need to work together to fight the EVIL, THAT IS THE BANKERS & CORRUPT POLITICIANS. I care about people with a passion, and i DO NOT LIKE THEY ARE GETTING TREATED. by “THEM”!!! You take care of yourself.
Error should read. Do not like the way they are getting treated.
The following is part of a document regarding a “Freedom March” on Washington. It either already took place or will but here is the summary of the statement which was read scheduled to be read.
If you are in agreement with most of this you might want to send this to your email list of concerned freedom loving American friends and family. Most of it
appears factual and beyond dispute. Our corporate media are controlled propaganda outlets so you’ll not get the truth from them regarding the real national developments. The media, except for alternative media like Al Korelin’s report, give you what they want you to believe. Remember this and don’t forget it.
Now here is the document.
THE DEMANDS ARE AS FOLLOWS:
1) Obama has,seeked the UN approval for going to War bypassing the Congress,which is a flagrant violation of the Constitution.
2)He has pushed illegal Bills through Congress without these Bills being read.
3)He has surrounded himself with admitted,Communists,Socialists,Facists by appointing these people as Czars,bypassing Congress,putting our Country and our way of life in grave danger.
4)He associates with a convicted terrorist(Bill Ayers) and appoints him head of education.
5)He is in bed with corrupt Unions heads and allows Richard Trumpka access to the White House 57 times so far.This is an ordinary citizen taking part in negotiations concerning our Country.
6)He has rendered Congress useless by his use of Execuive Powers,thus tranforming the Office of the President into a Dictatorship.
FOR THESE,AND OTHER OFFENSES too numerous to mention,WE THE PEOPLE,find him guilty of the Crime of Treason against the United States and the Constitution and guilty of plotting to bring our Country to economic ruin by his constant stimulus and spending policies over the objections of the American people.
Having so found him guilty of these charges..WE THE PEOPLE demand that he vacate the PEOPLE’S HOUSE other wise known as the WHITE HOUSE immediately.
We the People find Vice President Joe Biden,Nancy Pelosi,Secretary of State Hilary Clinton guilty of aiding and abetting Obama’s illegal activities and demand that they be expelled from the PEOPLE’S HOUSE.
We the people find Congress to be derelict in their sworn oath to Protect and Defend the Constitution and guilty of breaking their oath and DEMAND for the Removal of ALL HOUSE AND SENATE members of Congress except those freshman Congressmen elected in November 2010 and elections for the remaining vacated seats to begin as soon as possible.
The Office of the Presidency,Vice President,Secretary of State will be filled,thru an election process,among the Freshman class of Congressmen which will take place immediately.These would be temperary positions until the 2012 elections,when the temporary office holders would be eligable to participate in the 2012 election process.
In filling these vacant Congressional seats,we the people demand that the Party System as we know be abolished and that Congressman are elected by their ideas instead of party affiliation.
We The People DEMAND that the FEDERAL RESERVE be shut down immediately and their books opened up to the public.They are an illegal entity of this government we demand they be abolished.and an investigation begin as to the activities of Allan Greenspan and Ben Bernake.
We the people demand that a new structure of tax collection be implemented(Fairtax) and that the criminal IRS be abolished.Before implementing the Fairtax the 16th Amendment needs to be abolished.
We demand that the US Government cut ties with the International Monetary Fund and abolish the Council on Foreign Relations while setting up a strong NATIONAL BANKING SYSTEM which will be under the control of each individual 50 states,not 57 states.
We demand that the government close all foreign military bases and withdraw as soon as possible fron ALL Wars(without endangering the lives of our brave servicemen and women).
Our Foreign expansion must cease and attention turned to OUR COUNTRY
We demand that our borders be sealed and protected by whatever means,including the national Guard and Military.We demand that anyone who has entered our Country illegally be dealt with.If they are found to be illegal they will be deported.Stop any immigration until the illegals already in this Country are dealt with then open our borders once again to LEGAL immigration.
Immigrants coming into this Country must learn English.
We demand that a inexpensive energy source be developed(solar,wind),not nuclear.And that private competition would be encouraged.In the meantime drill in our Country.We must be independent of any foreign country for our own energy needs
We demand that the department of education be abolished.And our school system will be turned over to the individual states.Federal government will not be involved.
We the people demand that the Federal Government butt out of our lives and stop telling us what light bulb we can use or what food we can eat.
We the people demand that FEMA be abolished and emergencies and disasters will be handled by the states and if need be the National Guard and Militias.
These are just a few demands..more can be made later..suggestions encouraged.
Hello. CARLTON. I would have loved to be on that FREEDOM MARCH.
HI Carlton and irishtony,
I am going to spend some time on your (Carlton’s) comment tomorrow and will be back to you with my humble opinion.
Many thanks for your comments,
Big Al
Hey Al, and Rog,
I agree with you in regards to the need for increased revenue and reduction in spending. I think most people who understand finance can see this. However the Republicans have refused to bend on raising taxes to generate the needed revenue. In my opinion this is absolutely ridiculous. Normal citizens who have debt problems face the same decisions, to cut spending and increase revenue. This truly shows who controls them; it’s big business and the wealthy.
Also speaking of dirty politics, in my state of WI the Republicans have entered fake democrats into the recall election to disrupt the process.
Now I’m not a Democrat or a Republican but the latest actions of the Republicans have been pretty awful. It’s too bad that we will never have a 3rd party to represent people in the middle.
The sad thing about the debt ceiling talks is that some politicians are presenting some good plans. I just heard Marco Rubio and he is right on. http://www.youtube.com/watch?v=VTgdXN3ad04 The problem is our president does not care about any plan to make America great again. He is focused on raising taxes to make everyone equal. His comment about Social Security is not only a lie but it is an admission that the government is stealing from the Social Security fund.