The Obama Economy

Discussion in 'Stock picks and trading strategies' started by godoftrading, Jan 22, 2009.

  1. godoftrading

    godoftrading Member

    Dick Morris has written an interesting article on what he expects will happen to the economy under Obama.

    Here is an excerpt: "...In the name of short-term stimulus, he will give every American family (who makes less than $200,000) a welfare check of $1,000 euphemistically called a refundable tax credit. And he will so sharply cut taxes on the middle class and the poor that the number of Americans who pay no federal income tax will rise from the current one-third of all households to more than half. In the process, he will create a permanent electoral majority that does not pay taxes, but counts on ever-expanding welfare checks from the government. The dependency on the dole, formerly limited in pre-Clinton days to 14 million women and children on Aid to Families with Dependent Children, will now grow to a clear majority of the American population."

    http://thehill.com/dick-morris/the-obama-presidency--here-comes-socialism-2009-01-20.html
     
  2. freakscene

    freakscene Active Member won weekly contest 2x

    i enjoy Morris's historical perspective regarding his tenure at the White House during the Clinton years. He has some great stories, none all that flattering of our new Secretary of State.

    His batting average on predictions is not that high though, but he does make quite a few.

    Today's column is full of predictions, and it will be interesting to see how close he gets it. If he only bats .300, then we're in trouble. .500 and you'll not recognize the country. more than that, and ya may as well call us Cuba north.

    two other good pieces written today.

    Bill May Not Stimulate Jobs Right Away


    http://online.wsj.com/article/SB123257985064904169.html?mod=googlenews_wsj


    Stimulus Deferred

    http://www.investors.com/editorial/editorialcontent.asp?secid=1501&status=article&id=317434416453597

     
  3. concrete

    concrete Member

    He also predicted the nomination of Hillary Clinton, and predicted John McCain would win, and that he would win due to his brilliant move of suspending his campaign in his famous "trip back to Washington". You could spend a day listing things Morris has been wrong about, in fact, Morris is a f*cking idiot who is wrong about everything. He got fired by the Democrats when he got caught using his expense accounts to hire whores to suck his dick, and he's been mad at them ever since. Bill O'rielly keeps him around for some reason, maybe for the same reason.
     
  4. freakscene

    freakscene Active Member won weekly contest 2x

    i would think in this situation, given your political leanings, you would want his predictions to come true

    one can not support obama, and defile socialism with any sort of credibility
     
  5. Gordo

    Gordo Member


    :laugh:
     

  6. That was the biggest joke in Presidential race history.
    John McCain is a joke and that's why he lost. What were they thinking when they nominated him? When I found out he got the nomination I couldn't believe it, I thought why are the republican's giving this one away??? They really thought if they put out more war hero stories they could capture the campaign, he is an honorable man but being tortured does not make you a better president, I'm sorry to say. People saw through that and that's why he lost


    LOL at the end of your post.

    On a side note, this guy has been right in his predictions for quite some time, his name is Gerald Selente


    [youtube]46MEqEgdLTg[/youtube]

    Some of his predictions are:

    1. America will become the first "undeveloped" country
    2. Revolution, riots, rebellion, marches
    3. Holiday's 2012, food becomes more important than gifts.
     
  7. useless

    useless Member won weekly contest 18x

    His point about creating a non tax paying voting block has already come to fruition... its time to expand it.

    The problem is once you give something away for free, it is very hard to take it back with pissing the recipient off.
     
  8. freakscene

    freakscene Active Member won weekly contest 2x



    depends on who you mean by "they".

    McCain won because of Republican primary rules in certain states like Florida, allowed for open voting. that meant anyone could vote in the Republican primary.

    liberal democrats helped him win Florida, and thus the nomination, knowing he would not appeal to traditional conservatives.

    The party needs to close its primaries in every State so that doesnt happen again.
     
  9. freakscene

    freakscene Active Member won weekly contest 2x

    can you elaborate on why it should be expanded?
     
  10. useless

    useless Member won weekly contest 18x

    Uhm, I did not mean it was time to expand it like, "yay we can expand it"

    I meant, from Obama's perspective, it is time to expand it. since he won. This is how you keep the power so to speak.

    I was trying to be rhetorical or something. Facetious maybe a better word.
     
  11. freakscene

    freakscene Active Member won weekly contest 2x

    oh, no doubt. he has the political capital thats for sure.

    granting citizenship to those that violated immigration laws will be a sure way to increase his bloc too
     
  12. freakscene

    freakscene Active Member won weekly contest 2x

    regarding the trillion dollar "stimulus" proposed by "democrats", this exchange from yesterday i believe, is interesting if nothing else.

    they cant point to 1 private or public sector job it will create.

    http://www.youtube.com/watch?v=NtFwS2W3ITI
     
  13. freakscene

    freakscene Active Member won weekly contest 2x

    Economic stimulus or just more pork?

    http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/01/26/MNU515G2DD.DTL

     
  14. Humbleone

    Humbleone New Member

    It seems to me that the majority of the money is being used to inflate the Government and to push through and finance the liberal agenda. When we are in a state of panic, anything can happen
     
  15. Mastajab

    Mastajab Moderator won weekly contest 2x

    It would be cool if Obama just lowered taxes, and .....just lowered taxes. Infastructure doesn't have an immediate impact and does not create lasting jobs.
     
  16. useless

    useless Member won weekly contest 18x

    Depends which taxes he lowers.

    IMHO, the real problem in the country is lower income families fail to save any money. I am talking people making up to 75k or so. I know countless people who are planning on having only their 401k/Pension and SS.

    Does cutting taxes really help these people? They just blow the money on more crap from china.

    We are in a odd situation that I think can only be fixed by only lending to people with really high credit scores, and this is considered racist or regressive-ly discriminatory.
     
  17. Mastajab

    Mastajab Moderator won weekly contest 2x

    Obama should cut taxes that effect businesses, like that big old corporate tax we got goin on here. We should go back to what used to make America great lower taxes.

    And why are there so many people on TV crying about the lack of lending? Like you said the only way to solve that part of the problem is to NOT lend to those high risk people.
     
  18. freakscene

    freakscene Active Member won weekly contest 2x

    This is very well said and something I agree with. They share some blame in the current mess, but in many ways one could make the argument that all they are doing is behaving like their government.

    When unable to pay back your debts, borrowing more money rarely works


    Thats precisely what the administration is trying to do. Create as much public concern as possible over the crisis that they themselves created, and use it to lurch the country as left as they can.
     
  19. freakscene

    freakscene Active Member won weekly contest 2x

    http://www.foxnews.com/politics/fir...eaders-raise-concerns-acorn-stimulus-dollars/

    dont want to leave out ACORN

     
  20. Technical Alchemist

    Technical Alchemist forum leader won penny contest 13x won weekly contest 12x

    This has been the Democrat Party strategy for decades. Increase gifts from the Treasury and enslave the population via welfare and government programs. As the populace becomes dependent on the government for their means of life the Dems have secured their power and ensured they get elected time and time again. This is nothing but pandering and the biggest target they could ever hit and what they've been aiming for since ClintonCare is nationalized healthcare.

    It may sound hard to believe after reading the above but I am not a partisan hack and don't support Republicans nor do I support Dems, obviously. My fear is that this country will essentially be bankrupted as the power brokers in the Federal Government will sell this country down shi'ite creek in an effort to hold on to their power. Nationalized healthcare will run this country $10s of trillions each year and in a generation we will be bankrupt.

    It is amazing that Americans do not realize how akin to slavery the actions of our government are. The government takes the fruits of our labor in the form of taxes, and under the guise of providing goods and services dole out and ration our own sweat via government programs and assistance all the while skimming their cut for their fat paychecks and lavish liefstyles.

    How is this all that different than the slave-owner who in exchange for labor in the cotton or sugar cane fields provided food, shelter, and clothing? We are complicit in our own slavery.

    In a overly acute sense of my surroundings I recall saying long before I could even legally vote that he/she who promises the most gifts gets the most votes.

    Here is a poignant quote from one of the sharpest, and ostensibly prescient, minds in American history:

    "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." ~ Thomas Jefferson
     
Loading...

Share This Page