Let's make things simple..... What would happen if the US tax system was changed to a sole 10% consumption tax ? Would jobs be a problem ? ...................................................................... What if education was a low cost internet based option ? Would education be a problem ? ....................................................................... What if there was a straight up source of capital...no interest, non obligatory funds....that was boilerplate and not corrupted by a handful of selfish firms ? Would wealth not be better distributed ? Would there not be more jobs? And better jobs ? ................................................................................. What if banks had to actually know something about their borrowers and were restricted about the maximum leverage? Would this not be a more stable banking system? Just look at the ones doing well today....they already have the answer ..... ..................................................................................... What if the US produced a lot more doctors and no longer restricted the numbers of qualified minds that wanted to be doctors? This by itself would dramatically lower medical costs.... ..................................................................................... What if government was solely implemented by township ? Would this not pave the way for better visibility and management ? Get rid of the stupid 2 party by advertising system run by special interests.... ........................................................................................ Why not let the people of each townsip internet vote on wanted projects ....and locally collect the 10% consumption tax.... How would this not be better than to have Washington in the picture ? .................................... These steps are simple and easy to implement.... The list goes on..... ................................................. The NoBama admin guarantees bigger government and higher taxes...and less individual freedom.....It is guaranteed...unless the structure is changed ................. And importantly......the rest of the world will follow......whichever direction the US takes...... ................................................... One would have thought that world was finished with backwards fiefdoms and kingdoms.....apparently not.....
That would mean cutting spending by approx 75%, as a significant part of the budget is interest on legacy debt and isn't cuttable. In terms of programs, that's roughly equivalent to the complete elimination of Defense, Social Security and Medicare. Not saying agree or disagree - just wondering if that is actually what you had in mind with your statement.
EXACTLY CORRECT! And it's unlikely to be just "a LITTLE more Gummint, a LITTLE higher taxes, and a LITTLE LESS individual freedom..." American's should abhor the prospect...
As bad as Obama;s policies-are he won't be in for another three months. The markets have already discounted the worst and there are still many neocons left in house and senate who will oppose his tax and anti-free trade policies.
This is the whole point...... When you have an excess of fruit trees loaded with fruit, with good pruners and caretakers that really know everything there is to know about the fruit and the fruit trees....The fruit trees are there to stay....... There is no fruit currently for Medicare and Social Security.....the only way to provide needed fruit is to make the proper conditions for producing it.... Medicare and Social Security require this future fruit that is not currently there..... One will only add to further deficits if one is now cutting the current trees down...and using them for firewood..... The problem at hand is to produce MORE...not LESS fruit which is of the essence for medicare and social security..... Time is of the essence..... And the Nobama arrangement may be the final straw that lights the fire and burns the whole grove down..... Nobama = flawed economic structure....... One cannot produce more with less........ And very very sadly....very few people have grasped this..... This is literally what happened in Haiti...............
How is Obama different from any of the other candidates in this? There was NOBODY out there advocating for the complete elimination of Medicare, Social Security and Defense. Even the iconic Reagan wouldn't touch those. Seems it would be much more correct to say neither Republican nor Democratic parties are coming up with viable candidates and/or policies.
Quite correct. I'd have much rather the American public recognized this than having embraced the NObamanomics hope for hand-outs. Seems everyone forgot their mom's sage words... "There's no such thing as a free lunch"...
By Random... Seems it would be much more correct to say neither Republican nor Democratic parties are coming up with viable candidates and/or policies. ............................................... Exactly right Random.... Man ....one should care not about the label...but how good it really is.... Nobama was elected by HOPE.....the world wanted Nobama....on HOPE...... But option writers know well.....to sell Black Scholes HOPE.... And to actually collect the revenue.......
Agreed. Quite frankly, I'm really not surprised by all of this "fear-mongering" on ET over prospective SOCIALISM as the Gnomes of the world continue to profess. It seems to be quite typical of the ET crowd that loves to point their partisan fingers without any economic basis in fact. I believe that several of these Economic Geniuses were advocating for Bernanke to RAISE interest rates earlier this year. Go figure! The bottom line is that our Economy is in one heck of a DEFLATIONARY trend, with several sectors such as the Automobile and Housing/Construction industries in literal Depressions. The layoffs have just started. Unemployment will be surging towards double-digits over the next 4 quarters . . . This is not your "garden" variety "recession" people! Can you say Japan in the 90's? As a result, anyone that comes into the U. S. Presidency right now will be DEFICIT SPENDING over the course of the next 2 years to get the American Economy going again. It's pretty simple people . . . IT'S THE ECONOMY STUPID!!!
Landis wrote.... Agreed. Quite frankly, I'm really not surprised by all of this "fear-mongering" on ET over prospective SOCIALISM as the Gnomes of the world continue to profess. It seems to be quite typical of the ET crowd that loves to point their partisan fingers without any economic basis in fact. I believe that several of these Economic Geniuses were advocating for Bernanke to RAISE interest rates earlier this year. Go figure! The bottom line is that our Economy is in one heck of a DEFLATIONARY trend, with several sectors such as the Automobile and Housing/Construction industries in literal Depressions. The layoffs have just started. Unemployment will be surging towards double-digits over the next 4 quarters . . . This is not your "garden" variety "recession" people! Can you say Japan in the 90's? As a result, anyone that comes into the U. S. Presidency right now will be DEFICIT SPENDING over the course of the next 2 years to get the American Economy going again. It's pretty simple people . . . IT'S THE ECONOMY STUPID!!! ............................................................................... Fully understand where you are coming from .....but proper structural changes for a non socialist approach have not been mentioned.... There has been no mention of how government is going to get smaller commensurate with the economy.....it is always government this, government that..... Nothing has been mentioned as to how the needed improvements in the capitalism of the US are going to happen, and how government can get out of the way .....or there would be no discussion here today.... All one hears and reads is about more government.... Sorry pal....but you are just one of the many.... That doesn´t get it....you are the type that thinks rationalization is fear mongering....has nothing to do with it. Perfect...people usually fear what they do not understand .... This is solely about getting from point a to point b..... In two years ......a lot more people are going to understand first hand.... Unfortunately.... ............................................................................... Also you do bring up a very valid concern about what tools the Fed has to fight inflation.....Not printing lots of money and raising rates are the two tools..... When oil was at $147, and commodities were flying upwards....inflation was a big time concern.....and Fed policy does not usually move this fast.... That is until the mark to markets started kicking in big time, which are not yet finished declining..... This also brings about the interesting points about how this happened.... Here it is....excessive leverage allowed in hedge funds allowed for excessive speculation in prices dwarfing what would have happened either on the upside or the downside versus normal demand supply.....It was not actual supply demand that moved oil to $147...... The solution would be less leverage allowed and size limits with respect to the market in play.... Large highly leveraged positions need to be bridled commensurate with market size....or this is just going to happen again..... ........................................................................... You make some good points....but this is by no means fear mongering....this is just the way it is.....and hopefully things will begin to change in the right direction..... How much is HOPE worth? ........................................................... Obviously there is going to be a war between inflation and deflation....when the printing press is running as it is..... However it is the velocity and availability of money that matters in the short run..... However.....The US is now looking very much like a Japan repeat to some degree.....and could happen.... But with proper structuring towards capitalism, the US, and thus the world can come out of this a lot stronger....than a Big Government Socialistic solution...