Is There Nothing That Obama Can’t Do?

Maybe it’s hyperbole.
The Most Important Chart Of The Century
Diminishing-Prod%26%231.jpg.jpeg
But probably not.
Here’s some other stuff to cheer you up.
Related: Last month, something extraordinary happened…
Great Expectations: – Companies in the U.S. unexpectedly cut payrolls in March, according to data from a private report based on payrolls.

14 Replies to “Is There Nothing That Obama Can’t Do?”

That’s what Paul Volker and the rest of his world federalist buddies would refer to as the Hockey Stick graph.

That SwarmUSA site is ridiculous. We should run all banks through a bankruptcy process that will allow them to get rid of all debt until they get down to a ten to one capital ratio? My savings are deposited in the bank, which means they are a loan to the bank. Am I going to be screwed as well?
Ridiculous…

VancouverGuy:
Relax. If your money is in one of the big 5 Canadian banks, it’s quite safe. They have capital ratios around 12%, which is significantly higher than that required by the Basel agreements, and tremendously higher than most US banks, which continue to count bogus mortgages at full value, so that their actual capital ratios are around 5%. It’s no wonder that nearly 200 banks failed in the US last year, and they are on an even faster pace this year. Meanwhile, the US Federal Deposit Insurance Corporation is 1) broke, and 2) asking solvent banks to pay their FDIC fees three years in advance, so the FDIC can continue to pay off depositors of failed banks.
Failed banks in Canada last year? 0. CDIC payouts last year? 0.
All the stuff in the charts is carried on a daily basis with varying degrees of amusing commentary at “zerohedge.com”.

“United States of Argentina
Examiner Editorial
March 31, 2010
Argentine President Juan Peron frittered away his nation’s prosperity by introducing redistributionist economic and regulatory policies, nationalizing utilities and pumping up the national debt — all leading to three decades of instability and stagnation. (AP Photo, 1951)
When White House Chief of Staff Rahm Emanuel last year advised “never waste a good crisis,” he likely was thinking ahead to President Obama’s economic stimulus program and health care plan. After swelling the federal deficit by passing the stimulus at a cost of nearly $1 trillion, Democrats in Congress signed off on Obamacare, with a price tag, according to Rep. Paul Ryan, R-Wis., of $2.3 trillion in its first decade alone. With federal spending exploding at such a rate, it’s no wonder that Moody’s Investor Service recently warned that it would downgrade the U.S. government’s credit rating if it concludes “the government was unable and/or unwilling to quickly reverse the deterioration it has incurred.”
rtr http://www.washingtonexaminer.com/opinion/United-States-of-Argentina-89551242.html#ixzz0jky7REtC

That’s what Paul Volker and the rest of his world federalist buddies would refer to as the Hockey Stick graph.
Free Thinker,more like an inverted Nike symbol.

I’m gobsmacked! You mean they’re just discovering the unsustainability of the debt-issue fiat currency manufactured by the private fractional reserve federal bankung system. This has been brewing since the 1913 Federal Reserve act.
When all money is issued into circulation as a debt eventually all money will be needed to pay the debt (saturation).
Consider a poker game where the dealer/banker never gambles but owns all the chips and lends them out for play at a percentage of the winnings. As the game goes on all the weak players run out of money and can’t pay the interest on the chips they lost the winners now owe the bank all their chips on the table PLUS debt interest chips for their chips and the losers chips, which they don’t have…so the bank loans out more debt chips to pay the debt and the cycle begins again.
Every so called business cycle since 1913 has created more ledger debt than real wealth. THe saturation point looms….so what to do? Perhaps fold or collapse the current system and start a new one ?

America refuses to tax low income and low-mid income earners. The entire tax burden rests with the corporate sector and mid-high to high income earners.
There are trillions of dollars to be made off of taxing the free-loading lower middle and middle class, like we do it in Canada. It’s ironic that Canada offers more entitlements, yet is solvent simply because the tax structure is vastly different … it’s “user pay” through taxation.
But in America they tax the piss out of the most productive classes; and let the most conspicuous users of government largesse go free.
The result has been that the normal balance between the employer and the employee is broken. The American employee has gotten more and more, with no resultant tax increases; the employer on the other hand, has paid more in taxes and in wages. In other words, the user has paid less and less, while the provider has paid more and more.
America, under GOP and DNC leadership has become far more socialist than the Yanks realize … a frog in gradually boiling water … too stupid and greedy to jump out.

They need a bunch of farmers in there advising them.
It’s called the ‘law of diminishing returns’ when applying fertilizer to crop production.
Washington’s polticians/economists are apparently only familiar with shovelling the barnyard stuff.

America refuses to tax low income and low-mid income earners.
Not sure where you get that from. The tax brackets are very similar to Canada’s, at least at the federal level.
http://www.moneychimp.com/features/tax_brackets.htm
One enduring myth about US income tax is that ‘the top 1% pays 40% of all taxes’. This is as phony as the climategate numbers. The rich have hardly felt the recession at all. Witness the 60$ billion paid to Wall Street in bonuses. And yet tax receipts have dropped dramatically.
But I guess it’s easier to bash the poor.

GreenNeck: “Witness the 60$ billion paid” … completely irrelevant and has nothing to do with the topic, other than the fact that bonus earners will pay massive amounts of tax, or will have to reinvest the earnings. Most bonus earners are also incredibly productive, often earning 100s of millions of dollars for their firms … and in some cases billions. Take away the bonus, and they’ll simply move to another firm, likely off shore. Nobody … and I repeat nobody, will manage a fund, turn massive profits, and not share in those profits.
Canada’s fed tax rate is the same as the USA rate up to $48,000, then it jumps. The US minimal tax rate runs all the way to $68,000, which represents a stunning loss in revenue as compared to what Canada takes in. Also keep in mind that the USD has for the most part been more valuable than the CND, which makes the discrepencey even larger. But, the Canadian tax rate caps at $127,000, while the US rate continues to climb and caps at $337,000 where it is significantly higher than Canada’s.
Add to this similar or worse discrepency in state taxes, and US wealth creators are far worse off in the USA, than in Canada, while mid to low income earners are better off. The proof is in the numbers; America runs its entitlements on the backs of the most productive.
And, let’s not forget Canada’s low corporate tax rate … one of the lowest in the developed world.

the Unemployment Benefits, extended and extended again, for millions of Americans, expire in two weeks.
Watch for Obamasssiah to borrow another few hundred $billion to keep these folks spending and off welfare.

rockyt said “It’s called the ‘law of diminishing returns’ when applying fertilizer to crop production.”
Exactly, it did not matter how tough things got, I always used the proper amount of fertilizer. One can always juggle chemical applications, postpone equipment purchases and use temporary band-aid repairs to help see you through the tough times.