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PoliGAF 2011: Of Weiners, Boehners, Santorum, and Teabags

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ToxicAdam

Member
I was listening a few weekends ago to one of those syndicated radio shows that talk about stocks/investing. The guy on there was saying he thinks the market will break 14,000 by the end of the year.

Wonder how he feels now?
 
J

jmdajr

Member
aronnov reborn said:
Honestly we're left with 2 choices for the future.

Just becoming a socialist country - which i'd prefer not happen

or do whatever it takes to balance the budget which would mean more taxes for everyone... not just the rich.. even a fair tax if needed. and even fund jobs like clean rail etc.
Click to expand...

I'm all for things like say ..junk food taxes. But people think that type of shit is UnAmerican.
 
T

TacticalFox88

Banned
balladofwindfishes said:
Are we looking at the start of another, possibly worse recession?

There will be an entire generation of people who know nothing but recession!
Click to expand...
That depends. We could very easily get out of this if everyone in DC would stop having a dick measuring contest, STFU, and do what needs to be fucking done.
 
P

planar1280

Banned
balladofwindfishes said:
Are we looking at the start of another, possibly worse recession?

There will be an entire generation of people who know nothing but recession!
Click to expand...

the stock market is only readjusting itself to the economic conditions. it was hyperinflated considering when the economy was moving itself slowly up, the market was rocketing up. It will come back up but it will adjust around the 11,000 number
 
Freshmaker

Freshmaker

I am Korean.
aronnov reborn said:
Honestly we're left with 2 choices for the future.

Just becoming a socialist country - which i'd prefer not happen

or do whatever it takes to balance the budget which would mean more taxes for everyone... not just the rich.. even a fair tax if needed. and even fund jobs like clean rail etc.
Click to expand...
A flat tax isn't fair.
 
E

eznark

Banned
balladofwindfishes said:
Are we looking at the start of another, possibly worse recession?

There will be an entire generation of people who know nothing but recession!
Click to expand...

I don't think so. We'll still have anemic growth, so mckmas will be sure to tell us we aren't in a recession.

What ever happened to all those "green shoots," haven't heard about those in ages...
 
E

Evlar

Banned
balladofwindfishes said:
so I guess we're heading towards another recession
Click to expand...
We're still teetering on the edge, I think. Depends on whether this destruction of shadow wealth will be reflected by a slowdown in manufacturing orders, business investments, etc. in the real world.

The world sometimes does continue spinning despite Washington's best efforts. Or worst efforts.
 
H

HerbertFish

Member
I'm not a day trader, but work in an office with day traders. They are so intense about selling everything off whenever Obama comes and speaks on TV.


It is quite LOL-worthy.
 
R

RustyNails

Member
balladofwindfishes said:
Are we looking at the start of another, possibly worse recession?
Click to expand...
It would only if these credit downgrades and stock falls results in substantial job loss. As of now, I don't see that happening. Wall Street is hit hard though, and the best thing we can hope is them shortening their leash on their politicians in Congress and Senate.
 
Dude Abides

Dude Abides

Banned
aronnov reborn said:
Honestly we're left with 2 choices for the future.

Just becoming a socialist country - which i'd prefer not happen

or do whatever it takes to balance the budget which would mean more taxes for everyone... not just the rich.. even a fair tax if needed. and even fund jobs like clean rail etc.
Click to expand...

You're forgetting option 3: war with China.
 
H

HerbertFish

Member
ToxicAdam said:
So, at what point do they just shut down the stock market and give everyone a breather? There's no real logic in all this selling.
Click to expand...
They will shut it down if it gets down 10%. Not until then though.
 
A

A Human Becoming

More than a Member
teruterubozu said:
Stock market is nose diving at the moment with no bottom in sight, -2%, -3%,-4%, -5% and now -6%!! Wonder where it will close today.
Click to expand...

10955.88 -488.73‎ (-4.27%‎) Aug 8 2:38pm ET

There is still hope it will close with < 4% dropped.
 
L

lunarworks

Member
teruterubozu said:
Stock market is nose diving at the moment with no bottom in sight, -2%, -3%,-4%, -5% and now -6%!! Wonder where it will close today.
Click to expand...
At what point does the exchange put the brakes on, anyway?

I doubt it'll fall too far. That's an extremely rare occurrence. Every time it's hyped to do so people swoop in to buy and it starts to pull back up.
 
C

Crisis

Banned
ToxicAdam said:
So, at what point do they just shut down the stock market and give everyone a breather? There's no real logic in all this selling.
Click to expand...
The stock market closes if it meets two conditions or a third. The market must have dropped 1200 points BEFORE 2 PM. The other, third condition is possibly imminent or actual danger.
 
A

AiTM

Banned
Freshmaker said:
A flat tax isn't fair.
Click to expand...

End wars, bring home troops, move S.S. to 70, abolish IRS, Flat tax of 20% for all brackets, millionaire tax of additional 20% for people who make million+, Make percentage of federal revenue have to be applied towards debt, spend as you go measure, legalize various drugs and tax, also would end various prison and police spending policies because of legal drugs, abolish most of DEA, Increase science and Tech research spending, ban most government unions with ridiculous job retention despite work results, ban teacher unions and tenure while increasing teacher pay 25-50% with teacher evaluations...

Right, wrong, or indifferent...its what I would push for.
 
P

planar1280

Banned
from the Devil itself:

http://ftalphaville.ft.com/blog/2011/08/08/647131/goldman-this-is-not-2008/

However, Goldman Sachs, appropriately enough, reckons this will be a short-term soft patch. In a note out on Monday the house argues that although there has been a 10 per cent slide in banks stocks in the last week, this is not 2008 all over again.

Phew.

Goldman cites the better positions of bank balance sheets now compared with three years ago — higher liquidity, “almost no reliance on short-term funding”, improved capital and limited leveraged loss exposure.
Click to expand...
 
turnbuckle

turnbuckle

Member
ToxicAdam said:
So, at what point do they just shut down the stock market and give everyone a breather? There's no real logic in all this selling.
Click to expand...

I think a 10% drop in a day triggers it, or 10% of whatever it was at during the most recent quarter (I have no idea what that figure is)
 
E

eznark

Banned
Tea Party Downgrade vs:

mP7W7.png
 
P

PhoenixDark

Banned
balladofwindfishes said:
Romney is doomed to not win
The GOP doesn't accept pro-choice positions
Click to expand...

Damn, they should play that video at the Fox News debate just to torpedo him. Reminds me of John Edwards telling the story of his dead kid to John Kerry in an attempt to get on the ticket.

He'll still win though thanks to money and connections, unless Perry jumps in!
 
B

balladofwindfishes

Member
AiTM said:
End wars, bring home troops, move S.S. to 70, abolish IRS, Flat tax of 20% for all brackets, millionaire tax of additional 20% for people who make million+, Make percentage of federal revenue have to be applied towards debt, spend as you go measure, legalize various drugs and tax, also would end various prison and police spending policies because of legal drugs, abolish most of DEA, Increase science and Tech research spending, ban most government unions with ridiculous job retention despite work results, ban teacher unions and tenure while increasing teacher pay 25-50% with teacher evaluations...

Right, wrong, or indifferent...its what I would push for.
Click to expand...
some of your suggestions are okay

some are unfair to the poor.
A flat tax of 20% would destroy the poor. Making 20,000 a year, they'd only take home 16,000 a year!

Getting rid of teacher's unions is also not needed and needless hurts one of the most important workers we have in this country. It punishes them for nothing. And besides, you can't outlaw people coming together for a common cause, we've already found that out with Citizen's United.
 
W

whalekock

Member
AiTM said:
End wars, bring home troops, move S.S. to 70, abolish IRS, Flat tax of 20% for all brackets, millionaire tax of additional 20% for people who make million+, Make percentage of federal revenue have to be applied towards debt, spend as you go measure, legalize various drugs and tax, also would end various prison and police spending policies because of legal drugs, abolish most of DEA, Increase science and Tech research spending, ban most government unions with ridiculous job retention despite work results, ban teacher unions and tenure while increasing teacher pay 25-50% with teacher evaluations...

Right, wrong, or indifferent...its what I would push for.
Click to expand...
No way. This makes to much sense.
 
B

balladofwindfishes

Member
whalekock said:
No way. This makes to much sense.
Click to expand...
no it doesn't...

-Abolish the IRS? Why? Who's going to actually collect taxes?

-A flat tax of any kind never makes sense and only punishes the poor

-Punishing teachers and not allowing them to fight for their rights as a collective body is not something we in America should tolerate. This is America and if a group of people with a common goal want to get together and fight for it, there's absolutely no reason they shouldn't be allowed to do so.


We don't even need to do half of those things to lower the deficit (which in of itself is a non-issue). Just let the Bush Tax Cuts expire and wind down the wars. There, the deficit is as good as gone in a decade or so.
 
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