An Apology From A Bush Voter

Off Topic Politics & World Issues
81

[quote]biltritewave wrote:
Or the guy who works on capitol hill in politics and wrote his thesis on Central Banking :-).[/quote]

(sarcasm)
Yeah, working on Capitol Hill in Politics clearly shows that you are completely unbiased and have no agenda whatsoever…
(/sarcasm)

[quote]biltritewave wrote:
as for punctuation…I dont proofread anything that isnt going to press, people higher on the totem pole than me, or going into the congressional record. Not worth the time or energy.[/quote]

(sarcasm)
Yeah, that is a perfectly believable excuse. Anyone involved in politics has no reason to try to spell correctly outside their work environment in order to gain respect from others. Only idiots spell check, and bothering to use things like punctuation is such a waste of time? People might actually understand better what you have to say!
(/sarcasm)

[quote]biltritewave wrote:
But yes. Rest assured the economy is fine. [/quote]

(sarcasm)
Yes, the Economy is perfectly fine. The Feds are morons for thinking there is inflationary pressure and increasing the rates, and Wall Street is filled with liberal morons who started a one-week-long selling spree just because they woke up on the wrong side of the bed.
(/sarcasm)

82

Now for some reality:

"
Wall Street’s Stock Slide Dips Even Deeper
Thursday, May 18, 2006

SUSIE GHARIB: Another bruising day on Wall Street as stocks dropped, continuing yesterday’s dramatic market sell-off. The Dow lost 77 points. The NASDAQ fell 15.5 points, down for its eighth session in a row and its worst losing streak in 12 years. Investors sold stocks on worries about inflation and the possibility of higher interest rates. Here’s Erika Miller with more on today’s market action and the outlook from here.

ERIKA MILLER, NIGHTLY BUSINESS REPORT CORRESPONDENT: Shell-shocked investors bailed out of stocks again today after yesterday’s brutal session. An early rally petered out and stocks fell sharply in the final hour of trading. Investors remain concerned about inflation and the likelihood the Fed will raise interest rates at its meeting next month.

JAMES AWAD, CHAIRMAN, AWAD ASSET MANAGEMENT: If the inflationary pressures are greater than we think they are and the Fed falls behind the curve, or at least is perceived to have fallen behind the curve, and long term interest rates overshoot on the upside, that could hurt both the economy and the stock market.

MILLER: Clearly, it has been a harsh week for stock investors. The Dow and the S&P 500 are down more than 4 percent and the NASDAQ has fallen 6 percent since last Wednesday. That was the day the Federal Reserve raised short-term interest rates and indicated a willingness to do so again. Many on Wall Street do not expect the market to regain its footing soon. They say there are many things for investors to be concerned about in addition to inflation and interest rates.

SCOTT WREN, SENIOR EQUITY STRATEGIST, A.G. EDWARDS: I think we’re going to have some more down days. I mean, I think these definitely offer buying opportunities, but I think it’s a mistake to think that after kind of the run we’ve had in these commodity stocks, some of the run we’ve had in these cyclical stocks and then the fear over inflation and what the Fed’s going to do, I think it’s a mistake to think that we can get out of this with just a week or two of down side action. I think it’s going to be choppy in here. […] I think given our overall view and really when we look out through the end of 2007, so 18 months, we’re looking at substantial slowdown.
"

83

Isn’t the ‘slowdown’ merely a correction?

Nobody would say we could have continued on the same pace forever going forward.

Would a non-action by the Feds in June give a bump back, or do the Feds want to slow it down for some reason?

84

[quote]sasquatch wrote:
Would a non-action by the Feds in June give a bump back,[/quote]

It would stop the bleeding, or possibly bump it a little bit.

[quote]sasquatch wrote:
or do the Feds want to slow it down for some reason?[/quote]

Yes they do – to curb inflation. As I said, you cannot have “free money” – i.e., money that is not supported by higher productivity – in the Economy without inflation. So the Feds are cutting down on the money pool by increasing interest rates.

Of course, raising capital gains and dividend taxes would be far more effective and less damaging for the economy (than increasing interest rates), but the Feds have no saying in that, and even if they did, Bush is not listening.

85

[quote]
BostonBarrister wrote:
The forecasts the WSJ posts seem to indicate a slowdown from the mid 3% range to the high 2% range for annual GDP growth by mid 2007 – a slight downturn, but not really the sort of thing that would hammer the economy or be felt widely.

hspder wrote:

Yeah, the same guys that last week said the market would stop falling quickly.

Newsflash: it’s still falling.[/quote]

I was referring to the survey of economists the WSJ does on its website.

Also, the pullback hasn’t met the definition of a normal correction yet - 10% overall pullback. There essentially hasn’t been a correction since 2003. So anyway, I don’t know whether it’s finished falling or not – but I’m not ready to panic yet either. Particularly if the Fed re-thinks its focus on “core” inflation and refocuses on overall inflation, which may happen – don’t know what Bernake will do yet.

ADDENDUM:

BTW, what do you think of the volatility in the commodities market, with major pullbacks in metals? Traditionally commodities futures signaled inflation, but it seems there’s been a lot of speculation over the past couple years…

86

[quote]biltritewave wrote:
harris447 wrote:
biltritewave wrote:
hspder wrote:
biltritewave wrote:
Show me where the economy is “wrecked” Last I checked it was doing fantastic…clearly I haven’t been reading my mother jones though so shows what I know.

Every single Economist I know – including myself – has said that the US Economy is already experiencing a downturn, which will continue through this Summer and at least until November.

Just one example:

Don’t believe us? Look at the Stock Market in the past 6 days or so.

The only thing keeping us from a full-blown recession is the expectation that the Dems will have a landslide victory in November. If they don’t… well, the downturn will probably continue until at least 2008…

HAHAHAHAHAHAHAHA

is that the shit they teach you at Stanford business school…if it is i am glad i decided not to go there.

thanks

me

Hmm…the economics professor or the gu who can’t punctuate correctly: who to believe?

Or the guy who works on capitol hill in politics and wrote his thesis on Central Banking :-).

as for punctuation…I dont proofread anything that isnt going to press, people higher on the totem pole than me, or going into the congressional record. Not worth the time or energy. I come on here to bullshit occasionally, and because suprisingly i think this is a reasonably fair mix of political persuasions that I cant get from going on to party X’s website. The articles linked in here are also interesting…i dont come on here for grammar or punctuation.

But yes. Rest assured the economy is fine. Dems believe that if they shout the sky is falling long enough then eventually it will. A bad watch is still right twice a day.
[/quote]

Almost, but not quite. It’s a “stopped clock is still right twice a day.”

A bad watch would never be right, as it would fluctuate between being fast and slow at its own leisure/pleasure.

So, in almost every way, the Bush administration can be compared to your ‘bad watch.’ Continually failing the American people in new and creative ways.

(See, look what I did! Perfect grammar/punctuation in the same amount of time had I not capitalized or any of the things that separate us from monkeys.)

87

no… bad watch would stay on the same time all the time…ie.stopped. it would thus be right twice a day…this aint rocket science.

what seperates us from the monkeys…classic, i have better things to do than worry if some muppet on the internet who doubles as the grammar and spelling nazi thinks i write perfectly…you aint that important.

thanks,
me

88

[quote]biltritewave wrote:
no… bad watch would stay on the same time all the time…ie.stopped. it would thus be right twice a day…this aint rocket science.

what seperates us from the monkeys…classic, i have better things to do than worry if some muppet on the internet who doubles as the grammar and spelling nazi thinks i write perfectly…you aint that important.

thanks,
me [/quote]

Bad and stopped are two different concepts. I explained that. I could do it again using smaller words, if you’d like…

It actually makes perfect sense that you work for the Party In Control. You’re just the kind of thinker behind some of their more wonderful ideas.

(Ain’t really isn’t a word, but if you insist on using it, there’s an apostrophe between the ‘N’ and the ‘T’.)