The Decline And Fall Of The American Empire

Yeah, it's a freakin' mystery, ain't it?

Rob from the rich, give to the state.

More like "borrow from the Chinese, give to the state"....

Sustainable development.

Thanks for the link!

John Galt likely has a few things to say about this.

The Fed announcement, at 12:30 p.m., had little effect on the stock and bond markets. Bernanke began speaking at 2:15, and stocks started falling at about 2:30, when he acknowledged that some of the economy's problems could linger into next year.

Today, 24 hours later, the dow has dropped an addition 175 points (1.4%).

U.S. debt is forecast to soar to 70% of the country's annual economic output....By comparison, spending on all of the federal government's programs and activities, excluding paying interest on debt, has averaged 18.5% of GDP over the past 40 years.

Not to be worried or anything.

The Main Stream Media seems to be constantly shocked at how poorly the American economy is doing under ObamaNomics.

Yawn. I'm sure it's nothing.

Ben can't bring himself to say that at $4.25 a gallon of gas there will be no recovery.

These cats just don't get it, they threw away $800 Billion in TARP, the Fed is buying Billions per month of it's own Treasury Bonds, the Dems didn't pass a Budget in Sept. 2010 when they were suppose to, they got us in 7 Wars now, and Moody's downgraded our AAA Credit.

And, what is their answer; What War ? Moody is unreliable, we HAD to buy those bonds, we couldn't pass a budget because the Republicans wouldn't raise the debt-ceiling, TARP was a success.

These people are either incompetent, stupid, or they are trying to destroy America. Hell, it's probably all of the above.

And then, #@$%#$ , we have Boehner out there playing 18 holes with Barry. The country is going to hell in a hand-basket and these two clowns are golfing ! Come 2012, we need to clean the slate, maybe this time they will listen.
,

Come on! Outsource the rest of our economy! Outsourcing is good! They will re-invest what they earn into our economy! Yeah! Hiyyaa!

If the best of conservatives believe that outsourcing is good for us, we are doomed. Well, you are, because I am from the USSR and can survive on a very modest budget. You can't. Keep screwing yourselves, short termers.

Eyeguy, John Galt moved to China ten years ago.

In related news, Limbaugh's opening monologue today has Charles Schumer floating a trial balloon that the Democrats are going to charge the Republicans with -deliberately- wrecking the economy.

I was thinking the other day that if I was the type of creature Charles Schumer is, I'd try that too. Throw the bomb, then point at the closest Republican and scream "HE DID IT!!!!"

Would have worked in the 1990's. Maybe not so much today.

Any ten year old that has had a paper route for a year could figure it out. The community organizer is leading them to financial ruin. Clinton and Bush did not help either.

Ratt

My theory is that they have the intellect of Miss South Carolina and many grudges to settle......like losing the COLD WAR for starters..........

Anyone that is surprised is willfully ignorant of reality. I'm looking on an incandescent light bulb bubble to keep me afloat.

Nothing to do of course with he Obama regime's war on business, his stacking of the NLRB with radical trade union whackos, of letting the EPA run amok, of supporting every enviro-jihadi group that wants to tear down every dam in America . . . .

Of course Obama can't be the reason the US economy is stumbling.

Because Obama knows more government is good for the economy and he is so smart.

Aaron's an idiot.

It's looking likely the USA will be in a recession this time next year.

What can BO do?

two things:

1) I suspect we'll see an injection of unspent stimulus money next year? I believe as much as 40% of this $$ has been stashed for the 2012 campaign(see my 2008 comments on stimulus and re-election strategy).That's been the plan all along I think.

2) I wouldn't put it past BO to dip into the Federal Oil reserve next spring to manipulate the price of oil, and to give the economy a bump.

IMO BO started campaigning yesterday with his nonsensical speech. Yesterday's speech will have long been forgotten if Obama wins in 2012; so it's good politics to SAY you'll bring the troops home. Regarding Obama, “I judge him by his actions, not his words” said Dennis Millar.

There's going to be a concerted attempt by the Democrats to sway the political discussion from economics to social issues. The Democrats feel the GOP is still vulnerable on this file, hence the Tea Party slander. BO must do something on immigration reform, at least symbolically, if he's to maintain the Hispanic demographic.

It should be interesting to see if this deflection will be successful. I suggest the price of gasoline will be the prime indicator of BOs re-election prospects. A $5-$6 gallon will be very difficult to BO combat politically.

Trillions of dollars of government backed credit disappearing into
alleged loans and leaving no discernible difference in the market.
That's really weird. Makes you wonder.
.

Indy:

Apparently, you haven't heard the news.

Obama is releasing 30 million barrells now and another 60 million next year ... just in time for the next election.

Dear Mr Bernanke,

I can't spend more than I make, indefinitely. Neither can the US Government. It doesn't take a degree in economics, honest.

We keep thinking that lefties are idiots. They're not. They know exactly what they're doing, they're focused on their goal, they know their strategy and they're executing it brilliantly.

Obama is releasing 30 million barrells now and another 60 million next year ... just in time for the next election.

The U.S. consumes 18,680,000 oil bbls/day so 90 million bbls will be consumed in around 6 days.
There 17 months to go until the next election.

"Unicorns unexpectedly fail to materialize after Obama elected."

M.McCormic

We are well aware this is all orchestrated. It's the great unwashed that votes with "good intentions" rather than concern for "outcomes" that are analogized to "idiots".

There's no doubt in my mind the Left's international brain trust is very very smart, although disillusioned.

Maybe if the admin tried serious deregulation, we would see explosive growth in some large sectors, such as oil extraction. $25 billion of private money will be invested in exploration and development of tight rock fields in Texas which are 3 times the size of the Prudhoe Bay fields in Alaska. Those kind of numbers, repeated in many sectors, is what will get the economy off its back, and induce growth in other sectors, with people earning good wages.

Daniel Yergin, a respected petroleum analyst says in the Business Insider that “This is very big and it’s coming on very fast”... “This is like adding another Venezuela or Kuwait by 2020, except these tight oil fields are in the United States.”

Opportunities abound, but the US must open its eyes to them. If the people saw the government giving the green light to unlimitted economic expansion, not just politically correct, green, projects and the like, optimism would rebound, as it did under Reagan, when the US output increased by the equivalent of the entire West German economy.

reduce taxes for the rich, Dubya style

Already done, the Democrat majority senate passed an extension on the Bush tax cuts and Obama signed it into law earlier this year.

start some more wars, refuse to pay for them

Obama has already started with Libya, where next?
I vote Mexico since Obama has already been shipping them hoards of assault rifles and machine guns.
Your heart is in the right place, beatrice, but you've got to keep up with current events.

Beatrice

Leave the politics to your husband/boyfriend, as apparently these issues are far beyond your understanding judging by your juvenile and unsophisticated POV.

That is, if you're not one of those middle-aged unmarried liberals we always hear about. THEN... purrhaps you should leave the analytical thinking to Mr.Wiskers.

Meow.

Posted by: Oz at June 23, 2011 3:25 PM

Thanks, Oz.

Apparently, 2 million barrells a day is being released for the next 30 days for a total for 60 million.

Price of oil plunged today, could see a decrease at the pumps early next week.

"Bet you get laid LOTS, huh? :D
Posted by: beatrice at June 23, 2011 6:43 PM "

Probably the same as you,beatrice,but Inadiana's are cute conservtae chickie,not ugly liberal profs like you. And IH...price down at the pumps???I love your optimism.

US of A's debt is 14 TRILLION bucks right now. The zero will just print more,like Zimbabwa,and buy stock in wheel borrows. I still can't wrap my head around the fact that the freest,most(well was) powerful country allowed itself to be sucked into socialism/communism/islamofacism so easy. Revolution in 2014,after the unicorn and fairy dust leader gets elected again!!

And BTW..they are NOT "The economy's continuing struggles aren't just confounding ordinary Americans." ordinary Yanks. It is confounding stupid,brain-dead,pie-in-the-sky socialists/DemocRats. Someone like beatrice.

What America really needs is a Ronald Reagan. A true leader. Not perfect, but at least sane, or not a puppet.

As reported on SDA in 2008:

"Seven Year American Recession Watch Remains On High Alert"

December 2007: predictable willful misrepresentation by the press.

January 2008: The [US] economy added more than 1 million new jobs last year...in addition to..."Americans have enough confidence in the future to make lots of babies" Heh. Must-a-been unexpected.

March 2008: "The news remains as bad as ever... NEIL CAVUTO: Why someone here says this is all part of the media's plan to get a Democrat in the White House".

April 1, 2008: "food-stamps-are-at-an-all-time-high-Bush-must-die"

April 10, 2008: "They all remember the good old days under Bill....

April 30, 2008: On Wall Street, investors found comfort that the GDP figure was a bit better than expected.

May 16, 2008: "Construction starts on new U.S. homes...rose by a surprisingly strong 8.2 percent in April"

May 28, 2008: "The US economy continues to resist media efforts at sabotage;...Orders to U.S. factories for big-ticket manufactured goods fell by a smaller-than-anticipated amount..." As oposed to unexpected.

June 3, 2008: The economy grew at a faster pace than originally estimated in the first quarter,

June 26, 2008: "SubPar! Better, but still subpar!"

July 9, 2008

July 14, 2008: Journalist: "...things are certainly bad for a lot of Americans. I don't think we want to discount that. But you say this is a psychological..."
Psychologist: "...emotions are trumping reality,..."

August 29, 2008: "The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate."
Definitely unexpected.

September 3, 2008: "House prices have increased over the last year in 30 states..."

October 8, 2008: "...The National Association of Realtors says pending home [sales] rose 7.4% from July to August...:

November 30, 2008: "Sales during the day after Thanksgiving rose 3 percent"

The media reported this with a sense of dismay, did not conform to their script. You can clearly see who is the media favoured character.
It is as though the current president could not tell if things are good or bad, they just are.

beatrice bambam has already done that. He wants to pull out the troops before the election.
Problem is they may have to count their votes this time around if he does.

Oh crap. The continuing recession was reported by the "Congressional Budget Office.". Damn. Why listen to them? They go against the Zero's unicorns and pixie dust speeches. And they are legally ELECTED scum. Can't have the people speaking and telling the PEOPLE the truth. Goes against his socialist meme. Kiss any Arab a*& lately,Zero-boy?

At least one guy is paying attention, his rant is fantastic.

http://townhall.com/tipsheet/guybenson/2011/06/23/awesome_rant_of_the_year

Indiana,

I may very well be an idiot, but I've supplied you with a theory based on my knowledge of accounting and economics.
You, in turn, only threw an insult at me without bothering to present your side.
Who is more credible then?
What do you have to say to counter my 'negative cash flow' argument?

Short-termers, all of you. Can't see forest thru the trees.

Oz, Indy, others:

Of coure the 60 M bbl of oil is a drop in the bucket (you should excuse the expression..). However, it's already achieved its intended effect: the price of oil dropped by 5%. Of course, it'll be back up there in late July, early August, but some important things happened:

1 - Everyone heading out on the 4th of July notices gas prices have dropped. Yippee! All's right with the world.

2 - The bean counters calculating CPI in Washington get a huge negative number. Yippee! No inflation. Coupled with the ethanol cut which means lower food prices, Bambam can trumpet "lower food and energy prices!" during the summer. It's all smoke and mirrors, 'course, but since when did you need more than that to fool the MSM and the MSP? (Knock-on effect: lower CPI means billions saved in SS and other pension COLA's).

3 - From the "irony so sharp it makes you cry" department:

The Bernank spent most of the 90's (from his ivory tower in Princeton) criticizing the Bank of Japan for being too timid in addressing the need for stimulus. Yesterday, in his press conference, he admitted he has more sympathy for central bankers than he did "a decade ago". Yep, driving's a lot harder from the front seat than the back, isn't it, Benny?

The only politician in my lifetime who got "it" was Maggie Thatcher, and the only central banker was Paul Volcker. Whatever happened to cloning?