The Coming Crash

[Guest]

Stimulating reading from policy wonk, Peter Ferrara, who is the Director of Policy for the Carleson Center for Public Policy, Senior Fellow for Entitlement and Budget Policy for the Heartland Institute, and General Counsel of the American Civil Rights Union. He also served in the White House Office of Policy Development under President Reagan, and as Associate Deputy Attorney General of the United States under the first President Bush.

If you'd like another perspective on the coming crisis coming to this country, and would like some insight into what's happening, this article published in American Spectator might answer your questions.

I post this strictly FYI

http://spectator.org/archives/2011/06/08/the-coming-crash-of-2013

[Guest]

Good reading but the crash will not and can not be stopped. Even the removal of the current administration will not stop it. I have figured this crash is in the process now. If all the spending would stop today we might make it but doubtful. In about five years all will settle down we will be ruledby China or India and our monitary system will be Rubals or something and life will go on. As have siad BO is our last president and America will never servive as we know it. If you are planning on doing something big do it now you won't be able to later. We have never seen such control over the people in this country as we will see in the very near future. The crash will go on. Gloom and doom I don't see it any different. If you have any stocks turn them into gold or silver that is universal.

[Guest]

Good reading but the crash will not and can not be stopped. Even the removal of the current administration will not stop it. I have figured this crash is in the process now. If all the spending would stop today we might make it but doubtful. In about five years all will settle down we will be ruledby China or India and our monitary system will be Rubals or something and life will go on. As have siad BO is our last president and America will never servive as we know it. If you are planning on doing something big do it now you won't be able to later. We have never seen such control over the people in this country as we will see in the very near future. The crash will go on. Gloom and doom I don't see it any different. If you have any stocks turn them into gold or silver that is universal.

When people like you are predicting doom and gloom, I know it's time for me to be buying stocks of US companies.

[Guest]

Good reading but the crash will not and can not be stopped. Even the removal of the current administration will not stop it. I have figured this crash is in the process now. If all the spending would stop today we might make it but doubtful. In about five years all will settle down we will be ruledby China or India and our monitary system will be Rubals or something and life will go on. As have siad BO is our last president and America will never servive as we know it. If you are planning on doing something big do it now you won't be able to later. We have never seen such control over the people in this country as we will see in the very near future. The crash will go on. Gloom and doom I don't see it any different. If you have any stocks turn them into gold or silver that is universal.

Where's Figmo....I need one of his guns. :doh:

[Guest]

I love this column

[Guest]

I love this column

I'm guessing it's for the comic relief. I'm getting to appreciate it, myself.

[Guest]

The only way to stop the crash is to accept the recession for what it is.. it is a major correction that needs to occur.. during a correction in the stock market or in the economy, property and wages fall to their true uninflated value. The longer we artificially maintain the inflated prices, wages and government by borrowing and spending, the deeper the crash. It is actually rather simple.
Jim

[Guest]

The only way to stop the crash is to accept the recession for what it is.. it is a major correction that needs to occur.. during a correction in the stock market or in the economy, property and wages fall to their true uninflated value. The longer we artificially maintain the inflated prices, wages and government by borrowing and spending, the deeper the crash. It is actually rather simple.
Jim

Try running for President with that platform. I don't think so.

[Guest]

:Where's Figmo....I need one of his guns. :doh:

:1rotfl::1rotfl::1rotfl::1rotfl::1rotfl::1rotfl::1 rotfl:

[Guest]

Try running for President with that platform. I don't think so.

A is A. A will never be B no matter how many programs they start nor how much money they borrow.
Jim
IM John Galt

[Guest]

Actually it is not really funny. The reason no recovery is that we are being held down with our heavy debt. The Republican better forget the asking to curtail spending in he billionsthey better be asking for $2.7 trillion because once Obama gets past the debt ceiling issue in August he will have smooh sailing from then on

[Guest]

A is A. A will never be B no matter how many programs they start nor how much money they borrow.
Jim
IM John Galt

This just might be a brilliant post if only anyone knew what you were talking about, specifically.

[Guest]

Actually it is not really funny. The reason no recovery is that we are being held down with our heavy debt. The Republican better forget the asking to curtail spending in he billionsthey better be asking for $2.7 trillion because once Obama gets past the debt ceiling issue in August he will have smooh sailing from then on

John Boehner was way ahead of you in demanding trillions in cuts before any vote on raising debt ceilings, and was met with virtual media silence and boredom and head nodding and yawns from the lame-stream media.

http://www.theblaze.com/stories/boehners-ultimatum-cut-spending-by-trillions-or-no-debt-limit-increase/

[Guest]

This just might be a brilliant post if only anyone knew what you were talking about, specifically.

You know.. why A must be A. They know that A cannot be B. Once the collapse starts, then then will be ready to hear "the speech".
Jim

[Guest]

We de-taxed our way into it. The Bush tax cuts may have been a good idea 10 years ago but they should be abolished now. Debt is a %age of GDP. Under 60% is more or less stable. Ours is in the mid 70's If all we did was get rid of the tax cuts the ratio would be under 60%,still bad but manageable. Debt equals 11.8 trillion-of that more than half or 6.2 trillion was added because of lost revenue. These are the FACTS. Unfortunately we no longer live in a fact driven world. Our politicians are just not honest with us,they are all bought and paid for. It makes me sick when I see the cuts that are proposed and excuses are made to leave the wealthy alone. I thought cuts to the rich would create jobs. Nonsense,it is now and always has been. The rich KEEP their money.

[Guest]

We de-taxed our way into it. The Bush tax cuts may have been a good idea 10 years ago but they should be abolished now. Debt is a %age of GDP. Under 60% is more or less stable. Ours is in the mid 70's If all we did was get rid of the tax cuts the ratio would be under 60%,still bad but manageable. Debt equals 11.8 trillion-of that more than half or 6.2 trillion was added because of lost revenue. These are the FACTS. Unfortunately we no longer live in a fact driven world. Our politicians are just not honest with us,they are all bought and paid for. It makes me sick when I see the cuts that are proposed and excuses are made to leave the wealthy alone. I thought cuts to the rich would create jobs. Nonsense,it is now and always has been. The rich KEEP their money.

Stop spending, stop spending, stop spending. De-taxed? bull dingies.

[Guest]

When working out this morning was watching Elliot spitzer debating with ann coulter on CNN. He was trying to convince coulter that Keneysian economics continues to be the only successful economic model and that we need to continue down that path. Really! Really! How wonderful for liberals They can just ignore the facts and continue singing "When I Wish Upon a Star. I wonder what per centage of liberals are business people and then waht per centage are stage, movie or TV actors. Hmmmmmmmmmmmmmmm

[Guest]

I am for low taxes and limited government. I am not in favor of raising or lowering them right now because of the national debt. If the congress wants to increase taxes, they need to do it on EVERYONE, including most of those that are currently paying no income taxes right now. They need to get rid of many of not all tax deductions, including the phoney EARNED income tax credit.. what a joke.. . We have a spending problem.. far far too much government at every level.
Jim

[Guest]

Good way of putting it jim joe plan and simply but rather close. Some times it is good to get people worked up it makes them think instead of accepting. Think of all opinions accept only and beleive only your own.

[Guest]

Question: Why is corporate America sitting on trillions of dollars? I mean ,many of them are flushe with cash.

[Guest]

Richie,part of solving the problem is to lower spending that I agree. However I do believe that eliminating the tax cuts of 1992 would really help to solve our problems. I just dont see us getting out of this by only cutting,the special interesta will not allow it.
I honestly believe that our government is owned by private insurers,defense contractors,big banks and big oil.These industries care nothing about America only profits.They will not allow the cuts that need to be made.

[Guest]

Richie,part of solving the problem is to lower spending that I agree. However I do believe that eliminating the tax cuts of 1992 would really help to solve our problems. I just dont see us getting out of this by only cutting,the special interesta will not allow it.
I honestly believe that our government is owned by private insurers,defense contractors,big banks and big oil.These industries care nothing about America only profits.They will not allow the cuts that need to be made.

Well, in light of the unprecedented and unbelievable spending by Obama which has accumulated more debt in 3 years than all previous Presidents combined in the history of this nation, you are probably correct in that we cannot get out of this freaking mess expeditiously with spending cuts alone.

But, I would not raise a penny's tax without massive, and I mean massive, cuts in spending. We're talking spending cuts in the trillions of dollars. How?; I don't know exactly, but if they were able to figure out how to spend it, they can figure out how to say....."Sorry, we really can't do that anymore".

[Guest]

why can't they combine repub and dem ideas to start the process. Bring spending back to 2008 levels and eliminate tax cuts for the rich and find a way for people to pay for at least a portion of the prescription drug plan that was unfunded. I don't see where this is a problem for either party. The word is called compromise.

[Guest]

Compromise & the Party of No is mutually exclusive. :doh:

[Guest]

why can't they combine repub and dem ideas to start the process. Bring spending back to 2008 levels and eliminate tax cuts for the rich and find a way for people to pay for at least a portion of the prescription drug plan that was unfunded. I don't see where this is a problem for either party. The word is called compromise.

Compromise will never solve this problem.. because was we surely know, the more politicians have to spend to buy votes, the more they will spend. The current budget debate is not just about balancing the budget. It also involves the role of government in our lives. Conservatives like myself believe that the budget bomb occurred because of the excessive role of government in our lives and the spending that goes with it. If you raise taxes, you are just increasing the role of government in our lives, and like an alcoholic, that just one drink makes you feel better just for a little while, but you get the shakes back and want more.. thus the size of our government. We have to get this drunken government off the money sauce cold turkey.
Jim

[Guest]

JJ, I strongly disagree with you. Compromise has always been part of our history and the reason we are in this mess is because this concept for whatever the reasons has been lost in all the soundbites spread by both parties. You and Richie are perfect examples of what is wrong. I presented a plan to help ease the budget crisis and all I get from you guys is Obama bashing and nonsense about stopping spending cold turkey,nothing about my proposal. You guys sound just like the politicians you hate. I think my plan has merit,if you dont like it prove me wrong.

[Guest]

JJ, I strongly disagree with you. Compromise has always been part of our history and the reason we are in this mess is because this concept for whatever the reasons has been lost in all the soundbites spread by both parties. You and Richie are perfect examples of what is wrong. I presented a plan to help ease the budget crisis and all I get from you guys is Obama bashing and nonsense about stopping spending cold turkey,nothing about my proposal. You guys sound just like the politicians you hate. I think my plan has merit,if you dont like it prove me wrong.

I will prove it: simple as this:
If you raise taxes, politicians will spend more because they have more, just like if you give an alcoholic or drug abuser more, they will want more.
Why did you have to personalize your attack on me? Why can't we all just stick to the issues? I did not Obama bash. When I disagree with his policies, I say so and say why. That is not bashing.
Jim

[Guest]

you stated in your post that compromise will not work....that is what I disagreed with. I did not attack you,I attacked your statement. I am talking issues ans possible solutions what are you doing?