Comments on: White House Details Looming ‘Doomsday’ Budget Cuts

By: Brenda

Brenda — Sun, 09 Dec 2012 02:50:52 +0000

I really think since the congress are not doing there jobs they should not get paid one cent, it really looks bad on the country when law makers get paid and cut everyone else. so If we do go over the cliff then they could be the first to get cut yet you all see they prevented that.” shame of the Republicans.”

By: strayaway

strayaway — Sat, 08 Dec 2012 19:39:13 +0000

Meanwhile, just in the last week, the Obama administration has legislated new student loan payback rules allowing smaller payments and forgiveness of all debts after 20 years. Also, Obama will be writing a check for $60B for 90% cost sharing with state and local governments, buying new cars for federal agencies that didn’t protect their cars from a predicted hurricane, and helping beachfront millionaires rebuild their houses and beaches.

By: Tee

Tee — Sat, 08 Dec 2012 18:15:17 +0000

When are we going to demand CONGRESS to stop paying itself billions on the backs of taxpayers? It’s time to cut them off!

By: Marc

Marc — Sat, 15 Sep 2012 16:36:23 +0000

Even as they announce Quantitative Easing – we have posters here denying there is a devaluation of cash.

We see immediately markets reacting and prices increasing – and they deny inflation.

What do you think Quantitative Easing is ?

They buy back securities with new cash conjured out of thin air.

And now it’s QE3 …. as in the third time they are doing it.

By: CenterOne

CenterOne — Sat, 15 Sep 2012 15:53:10 +0000

And by the way Marc, if you don’t like these “interventions”, contact your local GOP congressional representative. Jobs would have been a good idea.

Did you seriously believe the Fed would stand by and do nothing after years of Republican filibuster against this administration’s proposed jobs measures? See, their admitted goal has been to tank President Obama regardless of the economic damage.

Please explain how a return to Republican economic policies – MORE massive Military debt, strangled spending by the poor and middle class, and increased tax advantages for the wealthiest – will magically create more jobs? As a historic reference, review how the GW Bush era resulted in a weak 3 million new jobs over EIGHT YEARS. The worst job creation on record according to the wsj.

By: vampire Mitt

vampire Mitt — Sat, 15 Sep 2012 15:21:35 +0000

The ‘interventions’ are perfectly legal, and way overdue.

By: vampire Mitt

vampire Mitt — Sat, 15 Sep 2012 15:16:30 +0000

What is new is the massive and continuing devaluation of cash
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There is no such thing…..it’s a right-wing myth. -show us any data from any credible financial firm or government agency that shows either high inflation or a massive devaluation of currency.
These are just more right-wing fiscal fairytales

By: Marc

Marc — Sat, 15 Sep 2012 15:12:25 +0000

@Dixon

Manipulating commodities markets have been happening since Regan, so this is nothing new.

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What is new is the massive and continuing devaluation of cash that is pulling the rug out from under people’s feet.

Right now they are repurchasing mortgage backed securities.

That money will go back into equity and commodity markets basically enabling the commodity price increases – it won’t help the Joe on the street.

Since it’s financed by devaluing the present and future cash earnings of the entire economy – it’s a huge transfer of wealth – bailing out these banks with other people’s earnings.

The frivolous nature in which these interventions are being authorized – completely divorced from the reality on main street – is unethical.

Stability is harmed by the increased price volatility.

In industries where there is cut throat global competition – there is downward pressure on prices – which means they can’t arbitrarily raise rates – especially if you have longer term contracts for product or service delivery.

Workers too on salaries and wages are in a type of fixed contract – that means they are in the same boat.

Retirees and pension earners are often on fixed incomes.

I would say that 60-70% are actually harmed by these policies – either directly – or indirectly because they depend on the consumer’s spending power – which is eroded away.

Obama and Bernanke are responsible because they are in charge.

By: Vampire Mitt

Vampire Mitt — Sat, 15 Sep 2012 14:55:28 +0000

And Obama and Bernanke are responsible for it
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Baloney
You guys have been running around crying about inflation ever since the first stimulus…but that inflation has never materialized.
Bernanke knows monetary easing will not cause inflation when the economy is under-performing.
The Chicken Littles of inflation can be safely ignored.

By: Dixon

Dixon — Sat, 15 Sep 2012 14:48:37 +0000

And Obama and Bernanke are responsible for it.

This is borne out by the fact that average incomes in America have reduced by thousands of dollars since Obama took office.

Posted by: Marc | September 15, 2012, 10:31 am 10:31 am

Manipulating commodities markets have been happening since Regan, so this is nothing new.

Millionaires like Romney and Ryan’s “average” income hasn’t gone down – recession or not. So it’s no surprise that they don’t want that to change.