October 25, 2011
— Monty
Capitalism and civilization go hand in hand. Destroy one, and you destroy the other. It goes without saying that the OWS idiots don't understand the whirlwind they'd release if capitalism fell according to their wishes -- they are creatures of the capitalist state, after all, hothouse orchids who disdain the soil that gave them birth.
Obama: sowing the seeds of a new credit crisis.
Bammer’s latest scheme to jump-start the housing recovery. I use the word “scheme” because I no longer think that the Obama administration actually has a plan for anything. Obama isn’t trying to solve the problem at hand, but he wants to appear to be solving it.
Tomorrow is a big day for the various Eurozone nations as they struggle to come up with a strategy to address the debt crisis now threatening to crush them. I have a feeling that we'll get more of what they've been shoveling out all along: lots of words and grand ideas but no realistic plan of action.
Every time the Europeans put out one Eurozone fire, another one flares up.
A Eurozone fire that is still burning: Greece. 100,000 protesters gathered in Athens to protest the austerity-driven cuts imposed by the government. These protests, plus the strikes that have immobilized the country, tends to undercut the Greek message that austerity will carry the day. It's becoming apparent that the citizens simply will not stand for it.
Never forget: Teh Krugman really isnÂ’t all that bright.
[W]hatever the likes of Ron Paul may believe, money creation isnÂ’t inflationary in a depressed economy.Karl Denninger over at The Market Ticker has some more thoughts.
A personal note about inflation and deflation fears: Americans fear deflation more than inflation because our most traumatic economic experience (so far) was the Great Depression, which was a deflationary event. But in other countries, the fear is of inflation -- in Germany, for example, where the Weimar-era hyperinflation was the traumatic event. If our comfort with inflation is unwarranted, so is our atavistic terror of deflation: some deflation in the wake of an asset bubble is not only inevitable, it is necessary for the economy to recover. Trying to re-inflate the bubble by inflating the currency just buys bigger trouble later on.
Is “The Bulldozer Scheme” is simply another aspect of Bastiat’s “broken window” fallacy? In most cases, yes, but I’d be willing to consider that in certain instances, it would probably make sense to raze foreclosed housing stock and realize the loss. But I would view this approach is a very special-case exception, rather than the rule. Oversupply and overproduction is a signature trait of this downturn compared to previous downturns, and it in part explains why our recovery has been so slow: all those assets have to find an equilibrium price-level, but that means that someone has to realize the loss. Government subsidies and mandated cramdowns ultimately just displace the loss from the banks and homeowners to the taxpayers.
The essential problem with AmericaÂ’s housing market (and with SpainÂ’s, and IrelandÂ’s as well) is that there are too many houses and too few people who can afford them. ItÂ’s oversupply, again. The answer is not to establish price-controls on housing (which is all that government-mandated mortgage cramdowns are) -- the answer is to let the housing market find its own equilibrium. Most people who are in over their heads housing-wise are not in a little bit of trouble; they are in a whole lot of trouble, and wonÂ’t be able to afford the mortgage even with a cramdown.
One of the reasons I despise tax policy is that it so rarely turns on the utilitarian aspects of taxes and instead focuses on political and social issues (a tax “rewards” one group or “punishes” another). Liberals fret about how “progressive” a tax regime is because their main concern is that the wealthy pay more than the poor; conservatives fret about “punishing success” by taxing the creators and makers higher than the cheats and deadbeats. The problem is that the word “fair” is interpreted differently depending on where you stand in the ideological spectrum: to me, “fair” means that I pay the same tax rate for my place in this Republic as any other citizen; to a liberal, I suspect that “fair” involves overtones of social justice and victim-hood and so on. But regardless of where you come down on taxation, I think it is important that every person pay at least some amount of taxes, just to provide a reminder that government isn’t free -- and that the more government you have, the more it costs.
The employment picture in the short to medium term doesn’t look so hot, but you already knew that. We’re in for a tough decade or so. Also note the “aggregate demand” canard that I inveighed against yesterday: as on-point as some of Tarullo’s observations about what our employment problems are, he is a Keynesian in blood and bone and his solutions would only worsen the situation.
This widening inequality has been described as the result of a broader trend toward "occupational polarization."4 This theory posits that the diffusion of computer-related technologies, the related automation of routine work, and an increased capability for firms to move their activities offshore have combined to concentrate job creation in the poles of either high-skill, high-wage employment or low-skill, low-wage work. The high-skill occupations increasingly require at least a bachelor's degree. Demand has shifted away from traditional middle-class occupations. The kinds of workers who would have been employed in a traditional manufacturing or administrative job now often end up in lower-paying jobs.
Larry Summers: Keynesian to the end.
The central irony of a financial crisis is that while it is caused by too much confidence, borrowing and lending, and spending, it can be resolved only with more confidence, borrowing and lending, and spending.Oh, and this is hilarious:
First, and perhaps most fundamentally, credit standards for those seeking to buy homes are too high and too rigorous. The characteristics of the average successful applicant in 2004 would make that applicant among the most risky today. The pattern should be the opposite, given that the odds of a further 35 percent decline in house prices are much lower than they were at past bubble valuations.It's like the last four years never happened.
Netflix gets a pimp-slap from the invisible hand.
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I said I'll do it later, mom! Gee whiz! I'm in the middle of my show!
Posted by: Monty at
04:36 AM
| Comments (255)
Post contains 1102 words, total size 9 kb.
Vatican sides with anti-capitalist protesters and attacks global financial system
But there is some hypocrisy in this pronouncement.
The Vatican hardly has an exemplary record on financial transparency and propriety.
Last year the Vatican Bank, known officially as the Institute for Religious Works, had €23m (£20m) of its assets frozen by Italian authorities as part of an investigation into suspected money-laundering.
After years of resisting calls for greater openness, the scandal forced the bank to adopt international norms on transparency.
The Holy See's murky financial past has included, most notoriously, its involvement in the bankruptcy of Italy's biggest private bank, the Banco Ambrosiano, in the early 1980s.
Posted by: Kratos (Ghost of Sparta) at October 25, 2011 04:44 AM (9hSKh)
Netflix doesn't have that backup income.
Posted by: GnuBreed at October 25, 2011 04:44 AM (ENKCw)
Morning, all! Happy DOOMday!
First, and perhaps most fundamentally, credit standards for those seeking to buy homes are too high and too rigorous. (MWR - WTF?!) The characteristics of the average successful applicant in 2004 would make that applicant among the most risky today (MWR - NO. SHIT. They should have been considered the "most risky" in 2004, you colossal dumbass! The problem is they WEREN'T!). The pattern should be the opposite, given that the odds of a further 35 percent decline in house prices are much lower than they were at past bubble valuations (MWR - Oh, yes, because the past two sentences have given me so much confidence in your ability to understand economic trends. I can't believe anyone is stupid enough to pay you for this crap. Go sit on a cactus, you lunatic douchebag.)I just... the stupid in that passage is so strong... I'm literally breathless. And when I say literally, I do mean literally. It's like someone punched me in the solar plexus with an iron fist made of 100%, Grade A fuckwittery.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 04:46 AM (4df7R)
1. Anybody have CAC's email address? Somehow, I lost it.
2. What is the real, official name of Romneycare please?
Posted by: Truman North, TPT at October 25, 2011 04:48 AM (I2LwF)
Instead of bulldozing the excess housing stock, why not declare it as unfit for human habitation... that essentially "destroys" it as available housing.
As the economy recovers... assuming it ever recovers, of course... you can gradually reintroduce the excess back into the economy, bit by bit.
Posted by: CoolCzech at October 25, 2011 04:48 AM (Iaxlk)
Isn't it called MassCare or something like that?
Posted by: Monty at October 25, 2011 04:49 AM (/0a60)
How is Greece able to function at all? With the constant riots, cut backs, and so forth.
Is garbage being collected, is water, gas, and food being supplied/delivered?
How is their economy producing anything at this point?
Posted by: Ben at October 25, 2011 04:50 AM (wuv1c)
Posted by: Vashta Nerada at October 25, 2011 04:51 AM (ZDP2l)
We now return you to your regular DOOM! Because I bought a house I knew I could afford, that's why.
Posted by: Prof. Mondo at October 25, 2011 04:52 AM (NjNsY)
Posted by: Prof. Mondo at October 25, 2011 04:53 AM (NjNsY)
Posted by: Hussein the Plumber at October 25, 2011 04:54 AM (jx2j9)
How is their economy producing anything at this point?
Posted by: Ben at October 25, 2011 08:50 AM (wuv1c)
Anal Sex Tourism. It's a real boot in their economic rear.
Posted by: CoolCzech at October 25, 2011 04:54 AM (Iaxlk)
>>>>The Holy See's murky financial past has included, most notoriously, its involvement in the bankruptcy of Italy's biggest private bank, the Banco Ambrosiano, in the early 1980s.
The Immobiliere!!!'
Instapundit had it right, the Catholic church should focus on saving souls, not ruin economies
Posted by: Ben at October 25, 2011 04:55 AM (wuv1c)
What is the real, official name of Romneycare please?
i'm sure one of our Romneybots will have a cut and paste to reply to your question soon
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 04:55 AM (yAor6)
Obama: sowing the seeds of a new credit crisis.
I don't think so. As I said in the previous thread it will only benefit people in three States. This is a two-part campaign ploy, nothing more.Posted by: Vic at October 25, 2011 04:56 AM (YdQQY)
Posted by: Monty at October 25, 2011 08:49 AM
Exactomundo.
And a fine, lovely bit of socialized economic DOOM it is, too.
Posted by: MrScribbler at October 25, 2011 04:56 AM (YjjrR)
Posted by: HawtConservativeKiltMan at October 25, 2011 04:58 AM (GvYeG)
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 04:58 AM (4df7R)
Posted by: CoolCzech at October 25, 2011 04:58 AM (Iaxlk)
Posted by: HeartlessBlackOrchid at October 25, 2011 04:59 AM (SB0V2)
Posted by: Truman North, TPT at October 25, 2011 04:59 AM (I2LwF)
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 08:58 AM (4df7R)
but he vetoed it various times to fix it!/s
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:00 AM (yAor6)
>>>If I recall correctly, my grandfather put 25% down on his house, with a 5 year mortgage in 1928. I'd say standards have declined a bit since then.
Yeah but houses were like $400 back then..
Posted by: Guy Who Doesn't Understand Inflation at October 25, 2011 05:00 AM (wuv1c)
Posted by: HawtConservativeKiltMan at October 25, 2011 08:58 AM (GvYeG)
Weren't loose kilts the disastrous end of ancient Kiltdown Man?
Posted by: CoolCzech at October 25, 2011 05:00 AM (Iaxlk)
Posted by: HeartlessBlackOrchid at October 25, 2011 05:00 AM (SB0V2)
I can't imagine a scenario where that would be beneficial for the bank or people in general. For the bank they can sell the houses at some percentage of loss, which they then write off. Bulldozing it not only would be 100% loss, but they would have to pay demolition costs. For people they could buy houses more cheaply.
If the damn government would just get out of the the damn propping up buiness the market would bottom out and be on the road to recovery. We would already be there if they had just left it alone.
Posted by: Vic at October 25, 2011 05:00 AM (YdQQY)
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:00 AM (yAor6)
Monkey.
Monkey.
Monkey.
Posted by: Stipmson J. Cat at October 25, 2011 09:00 AM (nNDa9)
Monkey See, Monkey Do.
Monkey.
Monkey.
Monkey.
Posted by: CoolCzech at October 25, 2011 05:01 AM (Iaxlk)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:02 AM (8y9MW)
Yep. Masscare. Thanks.
put an "a" between "Mass" and "Care"
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 09:00 AM (yAor6)
Massacare, Massa Do!!
Posted by: Jar Jar Binks at October 25, 2011 05:02 AM (Iaxlk)
Posted by: Lincolntf at October 25, 2011 05:02 AM (Qjh0I)
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:03 AM (yAor6)
Woo Hoo! Just saw a flurry of Twitter activity like this: (retweet by CuffyMeh);">"...#Occupy Oakland attacked by 500 cops in suprise assault. tear gas, rubber bullets, shotguns, flash bang grenades. Many injured..."
FINISH THEM!
Posted by: That guy from Mortal Kombat at October 25, 2011 05:04 AM (JxMoP)
Posted by: J.J. Sefton at October 25, 2011 05:05 AM (UlUS4)
Investors reacted harshly. Netflix shares, which had already fallen 61% from their all-time high in mid-July, fell 26% more in after-hours trading Monday, following the quarterly report. The company's market value has sunk to about $4.6 billion from more than $16 billion in the space of three months.
Netflix said it lost roughly 800,000 subscribers in the third quarter,Didn't know SCOAMF was running Netflix.
Pre-market trading has Netflix down to $76. Yikes.
Posted by: Retread at October 25, 2011 05:06 AM (WA1wr)
All I can say is thank you scum-bucket 53%.
Posted by: Vic at October 25, 2011 05:07 AM (YdQQY)
Well, let's say that you're a bank and you're holding onto a "distressed" property that came back to you in a foreclosure. Or several of them (think Detroit). What do you do with them? They cost you money sitting on your balance-sheet (just taxes and upkeep alone), and they depreciate further each second they stand empty. And there are further costs involved in selling those properties. I can see certain situations where it would simply be cheaper to raze the house(s) if you can't sell them without taking an even larger loss.
Posted by: Monty at October 25, 2011 05:07 AM (/0a60)
Posted by: J.J. Sefton at October 25, 2011 05:07 AM (UlUS4)
On Perry's new tax plan (which I like, at first blush) he says you can "choose" your current tax rate or a flat 20% with the big deductions thrown in (home mortgage, etc., that people keep screaming about not wanting to lose). My question is, if you can "choose" a 0% tax rate, why would you choose a 20% (-deductions) tax rate? Or is it that you can keep your old tax rate, but lose your deductions, or you can take the new (potentially higher) tax rate and keep your deductions?
Anyone know, or do we have to wait until later this morning?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:08 AM (8y9MW)
Posted by: Jar Jar Binks at October 25, 2011 09:02 AM (Iaxlk)
*stabs Jar Jar in one bulbous eye with an ice pick*
I take comfort in thinking that Jar Jar was perhaps arrested and put to death for treason by the New Republic after the Rebellion killed the Emperor. He was, after all, the deciding vote in permitting Senator Palpatine to ("temporarily") take supreme power.
...
OMG. Jim Moran is Jar Jar Binks.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:09 AM (4df7R)
Posted by: Vic at October 25, 2011 09:07 AM (YdQQY)
Yes, but the upside it, illegal aliens will get free medical care!
Posted by: CoolCzech at October 25, 2011 05:09 AM (Iaxlk)
Posted by: Lincolntf at October 25, 2011 09:02 AM (Qjh0I)
WOO! That's what I like to hear!
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:09 AM (4df7R)
Razing them would be a 100% loss plus the cost of demolition. I just can't see a situation where > 100% loss would be better than even a 75% loss. Mark it down enough and you will sell it.
Posted by: Vic at October 25, 2011 05:10 AM (YdQQY)
This is especially true if you have several together (or, say, the residential property is an apartment building or complex) and you can raze it, and then re-zone it to commercial or industrial use. Then you stand a chance of selling it to a developer, instead of trying to sell it off piece-meal in a city from which everyone is fleeing.
There are still a lot of people who work (and therefore, spend a great deal of time) in Detroit. They've just all moved to Flint or the 'Burbs.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:12 AM (8y9MW)
I take comfort in thinking that Jar Jar was perhaps arrested and put to death for treason by the New Republic after the Rebellion killed the Emperor.
I take comfort in thinking that Padme has to service Jar-Jar in the afterlife, as punishment for her horrible acting.
Posted by: CoolCzech at October 25, 2011 05:12 AM (Iaxlk)
You were watching Natalie Portman for the acting?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:13 AM (8y9MW)
Posted by: HawtConservativeKiltMan at October 25, 2011 05:13 AM (GvYeG)
I think the key to jump starting an economic boon in Africa is to raze everyone's hut.
Posted by: CoolCzech at October 25, 2011 05:13 AM (Iaxlk)
And in other news, Michael Jackson... Still Dead.
Posted by: Jar Jar Binks at October 25, 2011 09:07 AMSame-O same-O for Mad Moammar and Steve Jobs.
Meanwhile, Osama Obama begins another day as a stuttering clusterfuck of a miserable failure.
Posted by: MrScribbler at October 25, 2011 05:14 AM (YjjrR)
Posted by: Truman North, TPT at October 25, 2011 05:14 AM (I2LwF)
Red Box is looking better and better, isn't it?
Posted by: Retread at October 25, 2011 05:14 AM (WA1wr)
It's not a panacea, no. But there are times when it's a better long-run plan than just letting a house sit empty.
Ideally, of course, some developer would just buy up several lots of homes, raze them, and then rebuild. But it may be easier for the bank to offload the land if the house isn't on it.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:15 AM (8y9MW)
Posted by: Lincolntf at October 25, 2011 09:02 AM (Qjh0I)
They're not "cops," they're "Goodwill Ambassadors." They actually wore little tags that said so when I was in Oakland last year.
So let's edit your story to, "Occupy Oakland attacked by 500 Goodwill Ambassadors in suprise assault. tear gas, rubber bullets, shotguns, flash bang grenades. Many injured..."
Posted by: CoolCzech at October 25, 2011 05:16 AM (Iaxlk)
I think it is important that every person pay at least some amount of taxes, just to provide a reminder that government isnÂ’t free -- and that the more government you have, the more it costs.
Truer words were never spoken.
Posted by: Darth Randall at October 25, 2011 05:17 AM (O/onO)
Yeah. Like I said, first impression: I like. A simpler tax system, a 20% corporate rate, and a tax plan that admits, from the out-set, that the biggest problem is not revenue and taxation, but spending.
All in less than 59,000 steps (or however many Romney chose).
Simplicity sells.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:17 AM (8y9MW)
54 This is especially true if you have several together (or, say, the residential property is an apartment building or complex) and you can raze it, and then re-zone it to commercial or industrial use. Then you stand a chance of selling it to a developer, instead of trying to sell it off piece-meal in a city from which everyone is fleeing.
This is what I was thinking, too. If you can't sell the houses individually, wouldn't it make more sense to raze a clump of homes and sell the land? I realize that doesn't work in situations where foreclosed homes are salt-and-peppered among inhabited dwellings, but in wastelands like Detroit and other urban areas, I imagine there are lots of foreclosed neighborhoods. All those empty houses just invite crime, rot, and vermin infestation.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:17 AM (4df7R)
Posted by: Truman North, TPT at October 25, 2011 05:18 AM (I2LwF)
Again, think of some clapped-out shitbox in Detroit. You can't mark it down to zero, and that's the only level at which those properties are likely to sell. It's not even the house itself in many cases; it's the neighborhood it's in. But if you're a bank and carrying that house on your book, you're probably paying several thousand a year just in taxes and upkeep.
If the bank is carrying the house as a net-present-value asset (I know, I know), then the depreciation costs should already have been assumed. Razing the house is a one-time incremental cost in addition to eating the loan; leaving the house standing can mean years of costs while eating the loan anyway. And at least the owner still holds title to the plot of land which -- being zoned residential -- still holds some value.
And remember that in most cases, it is Fannie or Freddie who holds the note on the property (particularly the 'distressed' properties). For them, demolition might be a cost-effective way to clear their unsalable backlog of housing. They're not like a local bank or S&L.
Posted by: Monty at October 25, 2011 05:18 AM (/0a60)
Posted by: FlaviusJulius at October 25, 2011 05:18 AM (ieDPL)
Posted by: Truman North, TPT at October 25, 2011 05:20 AM (I2LwF)
I don't know about you, but I am feeling kind of weepy over the dismantling of the last B53. A trusted deterrent has been sent to that great weapons stockpile in the sky and I for one am going to miss the cozy feeling that it gave. That baby defined Doom! So, anyhow, now I guess we will have to use two little ones, instead of just one big one.
Posted by: Errol at October 25, 2011 05:21 AM (vewos)
So according to Obama, he's fulfilled approximately 60% of his campaign promises. "
“A lot of the things that we promised we’d do, we’ve done,” Obama said, citing healthcare reform and ending the “don’t ask, don’t tell” policy preventing gay men and women from serving openly in the U.S. military.
“I carry around a little checklist, and I think we’ve got about 60 percent of it done so far. And that’s not bad for three years, because I need another five.”
The use of "because" in that last sentence is either a typo or a really stupid linguistic fuck up by SCOAMFOTUS.
Also? No.
(Link to Reuters, h/t WZ)
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:25 AM (4df7R)
Posted by: FlaviusJulius at October 25, 2011 09:18 AM (ieDPL)
Is that a real story? Don't see it up on Drudge.
Posted by: CoolCzech at October 25, 2011 05:27 AM (Iaxlk)
Posted by: Turd Ferguson at October 25, 2011 05:27 AM (WUWb9)
Smith, in an elegant three-piece suit, and Johnson, the standout former point guard for the Los Angeles Lakers, were guests at the home of producer James Lassiter and his wife, Mai. About 40 contributors, including actress Hilary Duff, contributed $35,800 each for a cozy dinner and a chance to chat with the president. Obama, eager to reinvigorate his supporters, ticked off his administration's accomplishments.
Good job Barry, you just keep fighting for the middle class and put an end to that evil 1%. You're really a man of the people
Posted by: TheQuietMan at October 25, 2011 05:29 AM (1Jaio)
Of course it is, Monty. These people still believe that home ownership is a cause of prosperity, not an effect.
They really have no grasp of the Law of Causality.
Like the idiot researchers who came out with a study (yesterday or this morning, I think) that links "5+ cans of soda a week" with increased violence in teenagers.
I heard that and thought, "Huh? I drank 5 a day!" Not surprisingly, the American Beverage Association is not amused.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:30 AM (8y9MW)
CoolCzech, Instead of bulldozing the excess housing stock, why not declare it as unfit for human habitation.
Uninhabited housing rapidly becomes truly unfit for habitation (mold, water, critters, etc.) Add to that all of the new green rules for housing repairs and you've got yourself a problem.
Posted by: Jean at October 25, 2011 05:30 AM (WkuV6)
The bulldozed properties generally are the worst of the bunch. Plus they tend to be in depressed housing areas.
Posted by: GnuBreed at October 25, 2011 05:32 AM (ENKCw)
I was thinking about this this morning as well. For all these people are complaining about "the Rich" not "spreading the wealth around," they don't seem to be pointing any ire at the truly idle rich- like the entertainment industry.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:32 AM (8y9MW)
Group to call for "Robin Hood Tax" at OWS Protests on Saturday (link to CNBC)
...Canada-based Adbusters wants the Occupy Wall Street protest movement against economic inequality to take to the streets to call for a 1 percent tax on (financial transactions and currency trades) ahead of a Nov. 3-4 summit of the G20 leading economies in France.
"Let's send them a clear message: We want you to slow down some of that $1.3 trillion easy money that's sloshing around the global casino each day—enough cash to fund every social program and environmental initiative in the world," the activist group said on its website, www.adbusters.org...
Idiots.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:33 AM (4df7R)
Posted by: Empire of Jeff at October 25, 2011 05:34 AM (l9zgN)
Posted by: Mother of Overindulged brat at October 25, 2011 09:32 AM (OWjjx)
And it's not the fact that I take my kids to McDonald's for every meal every day of every week that makes them fat; it's the Happy Meals!
Posted by: 400lb Welfare Queen with 200lb toddler at October 25, 2011 05:37 AM (4df7R)
One real-world analogy is New Orleans East, which got the 200-mph douching it so richly deserved during Hurricane Katrina
call me an asshole but when the media was fretting about New Orleans poorest areas (or so black areas as Wolf Blitzer called them) not coming back I thought it might be a good thing. In 2008 LA was one of the few states Mac got a better vote then did Bush in 00 OR 04. Katrina no doubt had something to do with that. Of course they also voted for Mrs. Piggy in a landslide to return to the senate as well.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:38 AM (yAor6)
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:39 AM (yAor6)
Posted by: Retread at October 25, 2011 05:39 AM (WA1wr)
As I said earlier, it is a huge tax increase for the average citizen so most people will opt to keep the current system. And also, I will be the King of Siam before such a plan passes congress.
Of course since it is a tax increase maybe they will like it.
Posted by: Vic at October 25, 2011 05:39 AM (YdQQY)
WASHINGTON (Reuters) - The White House said on Tuesday that President Barack Obama will take executive action to help military veterans find work, bypassing congressional Republicans to show voters he is serious about creating jobs.
"Today, we are announcing two new initiatives that will help create jobs for veterans at community health centers and expand opportunities for veterans to become physician assistants," a White House official said.
The White House will lay out more details later on Tuesday. It did not provide an estimate for how many jobs would be created by these moves, part of a broader series of executive actions Obama is taking after lawmakers failed to advance a $447 billion jobs bill that he put forward earlier this month.
By God that Barry is so serious about jobs. He makes a bunch of vague statements, never provides any details (because he really doesn't have a plan) attack the Republicans and has the MFM cover for him. What a leader
Posted by: TheQuietMan at October 25, 2011 05:40 AM (1Jaio)
Paula Dean and Michelle Obama not getting along, from Nationa Enq:
While plugging her new book, “Paula Deen’s Southern Cooking Bible,” the feisty TV chef took a pot shot at Michelle for gorging herself on greasy french fries, fatty hot chicken wings and sugary deep-fried Snickers bars!
“Michelle’s spitting mad,” a source told The ENQUIRER.
“She thinks Paula is trying to smear her and her family just as the 2012 presidential election race swings into gear.”
The trouble first began before Barack Obama was even elected president in 2008, when Michelle made a guest appearance on Deen’s popular “Paula’s Party” show and revealed that fried shrimp was her family’s favorite meal.
Then in an interview after filming the program, Paula quipped that Michelle would be serving high-fat, greasy and sugary foods in the White House if Obama won the election!
Now Paula is rehashing those attacks on Michelle in an attempt to plug her latest cookbook and offset Michelle's new book about eating healthy, noted the source.
“She’s no different than the rest of us,” Paula said about Michelle in a new interview.
Paula added: “She probably ate more than any other guest I ever had on the show! She kept eating even during commercials. Know what (the Obamas’) favorite foods are? Hot wings. Y’know – those kinds of foods that aren’t necessarily top-of-the-list healthy foods.”
“Michelle now deeply regrets ever being on Paula’s show,” added the source.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:41 AM (yAor6)
Posted by: Ken at October 25, 2011 05:42 AM (7yb9x)
Posted by: Texan Economist at October 25, 2011 05:43 AM (TC/9F)
Team Perry: Corporate tax cut will include eliminating corporate welfare
Team Perry: Corp. tax plan will include 100 percent expensing for investments
Team Perry: Agencies would have a "regulatory budget" to keep an eye on real-world impact of regs
Team Perry: Will raise SS retirement age + link benefits to inflation for richer seniors
Posted by: Tami-Cardinals! at October 25, 2011 05:43 AM (X6akg)
DOOMed. Game O V E R.
Posted by: Hussein the Plumber at October 25, 2011 05:44 AM (jx2j9)
Posted by: rachel corrie at October 25, 2011 05:44 AM (FduBR)
all those assets have to find an equilibrium price-level, but that means that someone has to realize the loss.
I didn't read the comments above (who do you think I am, Breitbart or something) but I presume we've had the war over whether or not the housing debacle is going to be a quick ELE like Yellowstone blowing or a slow ELE like a massive dieoff after a red algae bloom. Note that I see no hope of there not being an ELE re: banks and housing.
RE: Obama's executive order thingys (thingy being the technical legal term): He really really does believe that he should be a god-king, doesn't he?
Posted by: alexthechick at October 25, 2011 05:44 AM (VtjlW)
Posted by: Tami-Cardinals! at October 25, 2011 09:43 AM (X6akg)
Team Perry needs to get better pr because the polls say he's fucked. I loved Perry's last debate performance but app the GOP base didn't because they've decided on Cain or Romney. Basically, Perry's flat tax better work to his advantage cause he's getting nowhere fast.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:45 AM (yAor6)
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:47 AM (yAor6)
Toast. Crispy critters.
Posted by: Hussein the Plumber at October 25, 2011 05:48 AM (jx2j9)
Posted by: Ken at October 25, 2011 09:42 AM (7yb9x)
I wonder if they could do that anyway, even after bulldozing. I'm not sure of the level of destruction to the building materials that takes place. If you knock over a house of cards, the cards are still usable as cards. Obviously an ACTUAL house is not as flimsy as a house of cards, but how much of the material is conceivably reusable after a structure has been knocked down? Anyone have any idea?
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:48 AM (4df7R)
Posted by: toby928© at October 25, 2011 05:49 AM (IfkGz)
“Michelle now deeply regrets ever being on Paula’s show,” added the source.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 09:41 AM (yAor6)
*points and laughs at Mooch* You got pwned by Paula Deen! HA HA!
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:50 AM (4df7R)
Team Perry: Gradually increase Medicare eligibility, inject "market forces"
Perry conf. call: Cut $100b in non defense discretionary spending in year one
Perry conf. call: freeze government worker salaries until budget is balanced
Team Perry (on conf. call): Perry budget plan in line with Senate Republican plan
Posted by: Tami-Cardinals! at October 25, 2011 05:50 AM (X6akg)
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 05:52 AM (yAor6)
Yet another way to tell weÂ’re DOOMed? When you start picking the fruits of smart diplomacy and you realize they taste like shit.
Not merely dead. Really most sincerely dead.
Posted by: Hussein the Plumber at October 25, 2011 05:52 AM (jx2j9)
Toast. Crispy critters.
Posted by: Hussein the Plumber at October 25, 2011 09:48 AM (jx2j9)
Oh. My. God.
Most transparent administration EVA, if by "transparent" you mean "transparently odious, slimy, and evil."
How could such a rule ever pass muster as even remotely legal?
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:53 AM (4df7R)
Did you miss the "so they will keep the current system". As I said in the previous thread the 2009 census data shows that the median family income is app $50K. A family of 2 will pay just under 8% on that and a family of 4 will pay next to nothing. So the average person paying income tax is going to elect to keep the old system.
In short, 20% is too damn much for a flat tax if he means for it to have any impact.
Posted by: Vic at October 25, 2011 05:54 AM (YdQQY)
Posted by: Guy Mohawk at October 25, 2011 05:55 AM (xOy1A)
Team Perry: Not worried about low-income folks not paying income taxes
Team Perry: 20% rated need to pay for deductions and to keep equal with corporate tax rate
Posted by: Tami-Cardinals! at October 25, 2011 05:55 AM (X6akg)
Posted by: FlaviusJulius at October 25, 2011 09:53 AM (ieDPL)
Took long enough.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:55 AM (4df7R)
The problem there is that it is no longer just "low income" folks who are not paying any taxes.
Posted by: Vic at October 25, 2011 05:56 AM (YdQQY)
Posted by: FlaviusJulius at October 25, 2011 05:56 AM (ieDPL)
Lyrics like that just about write themselves, don't they?
I love you in the mornin' and in the evening too
And every time you leave me I get mad wit you...
Posted by: Chi-Town Jerry at October 25, 2011 05:57 AM (f9c2L)
Posted by: toby928© at October 25, 2011 05:57 AM (IfkGz)
“Michelle now deeply regrets ever being on Paula’s show,” added the source.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who
Supports The Ban Of Curious at October 25, 2011 09:41 AM (yAor6)
and you know what. I wouldn't have given a damn if she'd kept her mouth and hands out of our dinner menu's.
Posted by: willow-generic republican at October 25, 2011 05:57 AM (h+qn8)
They cost you money sitting on your balance-sheet (just taxes and upkeep alone)
Well, you're making the presumption that the taxes are being paid and upkeep is being done. Not necessarily. One of the fun things that some banks were doing is going through the foreclosure process, throwing the homeowners out, then not recording the final paperwork so that the bank is now the title owner of the property. It's a tax dodge, plain and simple. The foreclosed owner is still listed as the owner of record so when the tax sale rolls around, the owner gets the notices, not the bank. The owner is all wtf the bank threw me out, the bank is all hey we don't own own it and then the municipality has to spend the money to haul the bank to court to get screamed at by the judge for engaging in fraud upon the court. The same thing is done to avoid the fines and liability for fail to maintain the property. Good times, good times.
I haven't kept up on that situation recently so I'm not sure how widespread it is. I vaguely recall that some jurisdictions were at least threatening to void the foreclosure if the bank didn't complete the filings to take full ownership.
Posted by: alexthechick at October 25, 2011 05:58 AM (VtjlW)
See also: "Feature, not bug"
And also, I will be the King of Siam before such a plan passes congress.
Maybe so, maybe no. With strong Republican Majorities, it's a possibility. Pass it like the Bush Tax Cuts were ("here, we'll try this for 10 years, and see how it works..."), and I bet you'll get enough support. If it works well from the get go, you then press (as I believe was Bush's plan prior to 9/11) to make the new plan "permanent" early.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 05:58 AM (8y9MW)
Posted by: FlaviusJulius at October 25, 2011 05:58 AM (ieDPL)
Posted by: FlaviusJulius at October 25, 2011 09:56 AM (ieDPL)
Oh, that comment wasn't directed at you, FJ. It was directed at Oakland law enforcement and city government. They should have cleaned out that wretched hive of scum and villainy a long time ago.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 05:59 AM (4df7R)
Posted by: Lemon Kitten at October 25, 2011 05:59 AM (O7ksG)
Still more indicators that we are DOOMed? Close to half of AmericaÂ’s infatuation with Arab Spring and the diseased religion that succors it.
Decapitated. Nerves twitching.
Posted by: Hussein the Plumber at October 25, 2011 06:00 AM (jx2j9)
Posted by: Bob Saget at October 25, 2011 06:00 AM (SDkq3)
If there is any candidate in the race who will reduce regs, it's Rick Perry. he's a very low reg kind of guy.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:01 AM (8y9MW)
Posted by: Empire of Jeff at October 25, 2011 06:01 AM (XE2Oo)
Freddie was a major influence on Clapton, including a version of "Hideaway" when Eric was with Mayall's Bluesbreakers. I saw King a few times in the 70s when he was with Shelter records. Really really big guy.
Posted by: Captain Hate at October 25, 2011 06:02 AM (G6SvX)
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM
I haven't seen you-know-who either. Hmmm, I hope Jane didn't do something rash.
Posted by: Retread at October 25, 2011 06:02 AM (WA1wr)
Oh, friggity fucknuts.
The annoying thing is I actually like Orlando Jones. When he's funny, he's really funny. But when he's not funny, he's obviously a colossal douchebag.
The actor-comedian tweeted over the weekend: “Libyan Rebels kill Gaddafi, if American liberals want respect they better stop listening to Aretha & kill Sarah Palin.”
Keepin' it classy on the left.
(link to WZ, story from Hollywood Reporter)
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 06:03 AM (4df7R)
Team Perry: All other tax expenditures would be eliminated
Posted by: Tami-Cardinals! at October 25, 2011 06:04 AM (X6akg)
But it's hard to know as I haven't heard anyone respond with that information, Anyone heard from her at all?
Posted by: willow-generic republican at October 25, 2011 06:05 AM (h+qn8)
All other tax expenditures would be eliminated
he would eliminate the tax on dividens and capital gains, eliminate the AMT and the estate tax.
Is anyone else getting wood over this? Assuming it's at all reasonable in the details (and the Devil is always in the details) and he can actually defend this plan at all, this is the best serious tax plan I've heard in a long time.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:06 AM (8y9MW)
Posted by: Tami-Cardinals! at October 25, 2011 06:06 AM (X6akg)
Posted by: willow-generic republican at October 25, 2011 06:07 AM (h+qn8)
Posted by: Retread at October 25, 2011 10:02 AM (WA1wr)
Jane and the other one are the same people. Think Sybil.
Posted by: CharlieBrown'sDildo (NJconservative) at October 25, 2011 06:08 AM (UYLrj)
New Orleans East? Just the copper in the plumbing, I imagine. Most of those are brick homes.
Posted by: Empire of Jeff at October 25, 2011 10:01 AM (XE2Oo)
Solid oak doors? Wrought iron railing? Excuse me while I hop a plane to N.O. to do me some salvaging!
I think we should salvage some of the bricks from those N.O. East homes, EoJ, and donate them to business owners who are being inconvenienced by the OWS crew. If OWS feels like chucking bricks through store owners' windows, then I think the store owners should be given equal opportunity to huck bricks through the OWS proTEATers' tent cities.
Just the copper in the plumbing, I imagine
Which you can't resell for cash anymore in LA. Better take it across the border and sell it in Mississippi or TX.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 06:08 AM (4df7R)
The plan is DOA, but still an excellent one. And the R&D credit is huge. I'll bet that most people have no idea how much research is privately funded.
Posted by: CharlieBrown'sDildo (NJconservative) at October 25, 2011 06:10 AM (UYLrj)
Jane and the other one are the same people. Think Sybil.
Posted by: CharlieBrown'sDildo (NJconservative) at October 25, 2011 10:08 AM (UYLrj)
Didn't they just prove Sybil was a fraud?
I hope everything is okay with Jane. *frets*
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 06:10 AM (4df7R)
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at October 25, 2011 06:12 AM (4df7R)
It has to be easier to write "To whom it may concern" in Cyrillic sp? once, rather than "Dear Achmed" in Arabic a 1/2 dozen times.
Just inviting the Ambassador to Whitman AFB? and making him help pulley up into the bomb bay would deter most clowns.
Posted by: DaveA at October 25, 2011 06:12 AM (NiR5U)
I think it probably is, too, but I hold out a little hope. At least as much hope as I have of the Cowboys having at least a .500 season.
If we get even more control over the house, and take the Senate, I think there's a chance. Something tells me Paul Ryan would also have wood over this plan, for instance.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:13 AM (8y9MW)
Posted by: Retread at October 25, 2011 06:14 AM (WA1wr)
Some of them are, I'm sure, but many of them are "private contractors" or "self employed" and therefore "don't count" for unemployment purposes.
I'm sure it's worth it, though, to make sure those punks who play BasketBall get even more millions each year. We wouldn't want them to have to live pay-check to pay-check or anything.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:15 AM (8y9MW)
I think winter is finally coming to my little corner of Utah. The aspens in our yard are starting to turn and it won't break 60 today.
I'm determined to try to stay positive today. I know there's going to be a lot of poo flung around by the Anybody But Perry crowd. Should be exhausting.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:15 AM (5H6zj)
I imagine they won't be counted until they are re-hired. Than 400+ jobs created in a sports alone, jobs numbers are lookin up!
Posted by: willow-generic republican at October 25, 2011 06:16 AM (h+qn8)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:16 AM (8y9MW)
Posted by: FlaviusJulius at October 25, 2011 06:16 AM (ieDPL)
My only concern is that a truly flat tax has the appearance (not to me, but to many of the unwashed) of unfairness. I would prefer a progressive tax with three levels, and no ability to opt out and use the previous tax structure.
Posted by: CharlieBrown'sDildo (NJconservative) at October 25, 2011 06:17 AM (UYLrj)
“Michelle now deeply regrets ever being on Paula’s show,” added the source.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 09:41 AM (yAor6)And she's coming to Chicago today to lecture us on what to eat.
Posted by: TheQuietMan at October 25, 2011 06:17 AM (1Jaio)
He's been giving a lot of speeches lately. I think I saw that he's going to be speaking at Heritage today.
I'd love to see him on the ticket with Perry.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:17 AM (5H6zj)
But he is taking shots at Romney, so more power to him.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:18 AM (5H6zj)
The thing about a flat tax appearing unfair is that it's a fairly easy thing to debunk. As someone said: Which tax do you think taxes a FLAT portion of your income? The Fair tax, the FLAT tax, or the progressive tax? It's not very hard to educate those whose minds are even a little bit open, and the rest probably wouldn't vote Republican anyway.
My problem with a progressive tax structure is that it actively discourages upward mobility, in many cases.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:20 AM (8y9MW)
I am not at all bothered by him retaining some deductions, particularly the charitable contribution deduction because no one has convinced how we'd make up for a loss of $3 to $6 billion in charitable giving -- without relying on expanding government programs.
But the thing I am really looking for are cuts. If he really does follow through with spending cuts, as was suggested over the weekend, then he has my vote. (Well, he has it anyway, but you know... )
Posted by: Y-not is not getting her freak on at October 25, 2011 06:21 AM (5H6zj)
People in a 25% bracket do NOT pay 25% of their gross income. A family of 4 with a $100K gross income would pay $9,059 in income tax. (assuming standard deduction and none of the "credits" like child care.)
That is roughly 9% but they are in the 25% bracket. If we had a true flat tax of 20% it would be an increase. I know this one is not a true flat tax but w/o details one can not tell what they would do. However, I seriously doubt that it is going to drop them down to 9% with a few deductions.
Posted by: Vic at October 25, 2011 06:22 AM (YdQQY)
How is a percentage, 20% in this case, not progressive? You must mean not progressive enough.
Posted by: Jean at October 25, 2011 06:23 AM (WkuV6)
That would be a nice ticket. I'd like to see Newt as VP (more policy chops), or maybe the 'Stache.
I think future Presidents (especially Republican Presidents) taking the "team" approach that Bush/Cheney used would be a Very Good Thing, and would start making the VP slot worth something. If used properly, it would also really help with keeping Republicans in the White House ("Vote for me, I already have 8 years' experience doing this stuff!")
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:23 AM (8y9MW)
Schweeeet.....
Posted by: Tami-Cardinals! at October 25, 2011 10:15 AM (X6akg)
might be lower then that, rasmussen freaked out over getting Nevada so wrong in 2010 (everybody did though) and his polling since then has been a little suspicious for me
that said Obama's 44% approval matches his 44% Real Clear Politics Average
Huntsman was on Colbert yesterday. *face palm*
But he is taking shots at Romney, so more power to him.
Posted by: Y-not is not getting her freak on at October 25, 2011 10:18 AM (5H6zj)
Huntsman was on Chris Matthews show basically nodding as Matthews blasted the GOP as insane and Hunstman did not defend the party at all. WTF?!
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:23 AM (yAor6)
Another reason why, no matter who is elected in the next election, America will still be DOOMed?
City States. Even though it seems pretty intuitive, youÂ’re vote will actually be even more insignificant. Yet another proof the founders were some pretty damned smart guys.
Posted by: Hussein the Plumber at October 25, 2011 06:23 AM (jx2j9)
Posted by: Chuckit at October 25, 2011 06:24 AM (/lqC1)
It's technical nomenclature. A Flat Tax taxes everyone at the same percentage (this plan doesn't, btw). A Progressive Tax increases greater amounts of income at higher percentages.
From a populist standpoint, a Progressive Income tax is an easier sell.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:25 AM (8y9MW)
Yes, but that's another argument for Ryan over Newt or Bolton.
I've never gotten on the Bolton train. I simply think he's too one-dimensional. I don't know enough about him on domestic issues.
Newt -- maybe. But I think he's mostly great in the campaign as an attack dog and could be a real irritant once he was actually VP.
I'm quite happy with Perry, but Ryan is the only one of the folks not running who could make me switch.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:26 AM (5H6zj)
“Michelle now deeply regrets ever being on Paula’s show,” added the source.
I would much prefer a story that read "Michelle now deeply regrets ever setting foot inside the White House".
Posted by: somebody else, not me at October 25, 2011 06:28 AM (7EV/g)
I cannot, for the life of me, figure out what the heck he's playing at. I guess this is what happens when you have tons of money and can much around in politics without consequences.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:28 AM (5H6zj)
Posted by: Y-not is not getting her freak on at October 25, 2011 10:28 AM (5H6zj)
it really irks me the way he's embraced the #1 most loved GOP candidate by MSNBC role. He smirks like an ass and gets off on using lib talking points on his own party. He reminds me too much of my brother.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:30 AM (yAor6)
Freddie King, baby. The Three Kings, the holy trinity of the blues: B.B., Freddie, and Albert.
Posted by: Monty at October 25, 2011 06:30 AM (/0a60)
My plan: No withholding, flat 25K in taxes, no deductions, if you don't pay - you don't vote.
Posted by: Jean at October 25, 2011 06:33 AM (WkuV6)
Posted by: rightlysouthern at October 25, 2011 06:33 AM (/IiRZ)
Headline from Telegraph:
"Vatican sides with anti-capitalist protesters and attacks global financial system"
another reason i'm glad not to be Catholic
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:34 AM (yAor6)
Posted by: ConservativeMenAreJustHotter at October 25, 2011 06:35 AM (75TGE)
I can only thank God that I have people like you around to tell me what I'm really thinking. Because on normal days? All I hear in my head is calliope music.
Posted by: Monty at October 25, 2011 06:36 AM (/0a60)
Posted by: Vic at October 25, 2011 06:36 AM (YdQQY)
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:36 AM (yAor6)
Headline from Telegraph:
"Vatican sides with anti-capitalist protesters and attacks global financial system"
--
That was thoroughly de-bunked yesterday at several sites. It was not from the Holy See or anyone high up in the Church authority. I'll try to find the link.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:37 AM (5H6zj)
That story should read: "Academics loosely associated with the Vatican release a silly statement on finance that no one is going to read." Remember, catholic = universal, they have lots of marxists fools, too.
Posted by: Jean at October 25, 2011 06:38 AM (WkuV6)
Posted by: Y-not is not getting her freak on at October 25, 2011 10:37 AM (5H6zj)
Posted by: Jean at October 25, 2011 10:38 AM (WkuV6)
hmmm
well, well, looks like Drudge and the Telegraph didn't tell the whole story
...still glad i'm not catholic
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:39 AM (yAor6)
You're kidding, right? 25K is more than some (not poor) single people make in a year. That's a not-inconsiderable 12.50/hr.
If you're going to tax income, it's got to be a percentage of income. Sorry, but true. A sales tax might (from a purely Constructionist standpoint) be a preferable way to tax the People, but you'll never get that sold now- not as soon as the poor realize that it will hit them disproportionately.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:39 AM (8y9MW)
I don't think so. Jon Jr really hates Mitt. And Vic is right, Huntsman's record is more conservative than Romney. It's just that he's a weasel of the first-order so the folks in Utah vastly prefer Romney.
I guess he's doing this to help his old boss (Obama) and to take swipes at his nemesis (Romney).
Posted by: Y-not is not getting her freak on at October 25, 2011 06:40 AM (5H6zj)
...still glad i'm not catholic
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who
Supports The Ban Of Curious at October 25, 2011 10:39 AM (yAor6)
They're glad you aren't too.
Posted by: Tami-Cardinals! at October 25, 2011 06:40 AM (X6akg)
Drudge creates a lot of damage when he is sloppy, which he really is more times than he should be.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:42 AM (5H6zj)
Posted by: Y-not is not getting her freak on at October 25, 2011 10:40 AM (5H6zj)
Hunstman losing the state he governed and won 2 elections in should be a big signal he sucks. I can see him pulling a Smerconish and saying he's embarassed w/ the party and pulling for Obama while claiming he's still on our side.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:42 AM (yAor6)
Posted by: AllenG
...........
really? really? Do you know how silly that sounds?
Did you ever hear anyone say they refuse to take a promotion because it would thrust them into a higher tax bracket?
Someone on the lowest economic rung whose total income is derived from gov't handouts may well take that into consideration - but only because they are currently paying no taxes at all and getting paid to do nothing. It isn't the tax structure keeping them down, it is the welfare they receive for sitting on their asses. The marginal increase in income takes a major effort. This is why I have always been in favor of putting people on welfare to work - stay-at-home mothers should be asked to perform day care duties, for instance. Able bodied men should have to paint/clean public facilities. I guarantee you they would get out and get a job.
Posted by: Chi-Town Jerry at October 25, 2011 06:42 AM (f9c2L)
Obama sowing the seeds of a new credit crisis.
Well he sowed the seeds of the last one.....back when he sued Citibank in '95 on behalf of Citibank. .....That shakedown sent shockwaves through the banking industry and created the 'subprime lending' genre.
Crises.....yes. You can't let a good crisis go to waste. .....And Obama has some new 'crises powers' that kick in if there is a juicy crisis to exploit.
Occutards carrying signs that say: Debt is Slavery.....to justify people defaulting on their loans. ....Union organizer thugs telling their members to stop making their payments....to cause the banks to crash. .....If things go according to their evil plan, Obama will have the Banks right where he wants them.
Posted by: ConservativeMenAreJustHotter at October 25, 2011 06:42 AM (75TGE)
Yep. He'll be one of those "the Party left me" tools. Useful idiot for the Dems.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:43 AM (5H6zj)
They're glad you aren't too.
Posted by: Tami-Cardinals! at October 25, 2011 10:40 AM (X6akg)
i'm pretty sure they are 
Drudge creates a lot of damage when he is sloppy, which he really is more times than he should be.
Posted by: Y-not is not getting her freak on at October 25, 2011 10:42 AM (5H6zj)
it really annoys me how he's trying to go for the shock factor all the time in his headlines, he keeps hoping for a Lewisnkygate type breaking story to happen for him again. And idk about other folks but I think he's a Paulbot. way too much linking to Alex Jones and pimping Paul articles. thanks for the link.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:45 AM (yAor6)
yep, Drudge screwed up once again:
The truth of the matter is that “the Vatican” — whether that phrase is intended to mean the Pope, the Holy See, the Church’s teaching authority, or the Church’s central structures of governance — called for precisely nothing in this document. The document is a “Note” from a rather small office in the Roman Curia. The document’s specific recommendations do not necessarily reflect the settled views of the senior authorities of the Holy See; indeed, Fr. Federico Lombardi, the press spokesman for the Vatican, was noticeably circumspect in his comments on the document and its weight. As indeed he ought to have been. The document doesn’t speak for the Pope, it doesn’t speak for “the Vatican,” and it doesn’t speak for the Catholic Church.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:45 AM (yAor6)
“Rick Perry’s plan for tax reform would be massively pro-growth,” said Club for Growth President Chris Chocola. “A Flat Tax like the one proposed by Perry would unleash years of economic growth if it is passed into law. Furthermore, eliminating the tax on dividends and capital gains would immediately add trillions of dollars in new wealth to the economy, benefiting all Americans. Perry clearly understands that revitalizing the economy should start with a complete overhaul of a tax code that has nearly choked economic growth to death. Conservatives looking for a champion to carry the banner of a pro-growth tax reform will surely rally behind this bold proposal.”
“I continue to be disappointed that Governor Romney has yet to embrace a flat or fair tax,” added Club for Growth President Chris Chocola. “He would be wise to avoid using class warfare when comparing his current proposals to those of Governor Perry or Herman Cain. The Club for Growth is looking for bold leadership on tax reform from the Republican nominee – not demagoguery or platitudes.”
Posted by: Y-not is not getting her freak on at October 25, 2011 06:50 AM (5H6zj)
Posted by: Y-not is not getting her freak on at October 25, 2011 10:43 AM (5H6zj)
We'll be seeing Huntsman show up on MSNBC as a guest panelist right alongside Peggy Noonan and Donny Douche regularly this time next year.
Posted by: CoolCzech at October 25, 2011 06:51 AM (Iaxlk)
Posted by: CoolCzech at October 25, 2011 10:51 AM (Iaxlk)
oh I got better, 2012 Democrat National Convention Speech
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:52 AM (yAor6)
Yes.
Posted by: Guy who dropped out of corporate world at October 25, 2011 06:52 AM (7EV/g)
Yes. Several. At the very least, I know people think about it.
If a promotion is just enough to get me into the next tax bracket, that's a net loss for me. That doesn't, in itself, make any sense. Now, other inducements can be added to make the rest of the promotion look better, or there can be enough opportunity for advancement that you know you'll only be at that net-lower-income for a year or so, and you might decide to take the promotion anyway.
Why is this so hard to believe: we accept that taxation modifies behavior, but you believe this is the one behavior that taxation won't modify?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 06:55 AM (8y9MW)
Also, that Club for Growth quote appears to have come from NRO.
Posted by: Y-not is not getting her freak on at October 25, 2011 06:55 AM (5H6zj)
People need to remember that the Catholic church is not "liberal" or "conservative" in a political sense: they are their own. They will always be more socialist than conservatives like, and more socially conservative than liberals like. Political parties who want to get the Church "on their side" would do well to remember that -- the Church is out to win souls, not elections.
Posted by: Monty at October 25, 2011 06:55 AM (/0a60)
Posted by: Y-not is not getting her freak on at October 25, 2011 10:55 AM (5H6zj)
Perry getting a Demint endorsement would be a huge hit for the Romneybots who claimed he would endorse Romney. For the record I believe Demint will endorse Romney but can see Perry stealing the endorsment.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:56 AM (yAor6)
If he gets the DeMint endorsement that will be a big plus fro him in SC. If he gets both DeMint and Haley he will take SC easy.
Posted by: Vic at October 25, 2011 06:57 AM (YdQQY)
Posted by: Texan Economist at October 25, 2011 06:58 AM (TC/9F)
Posted by: Vic at October 25, 2011 10:57 AM (YdQQY)
finally something I agree with Vic on
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:58 AM (yAor6)
Posted by: Vic at October 25, 2011 06:59 AM (YdQQY)
Posted by: Texan Economist at October 25, 2011 10:58 AM (TC/9F)
Huntsman is my brother. He thrives off getting attention my bashing his own party.
Posted by: RINO Vice President For Life AuthorLMendez, Formerly YRM, Who Supports The Ban Of Curious at October 25, 2011 06:59 AM (yAor6)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 10:55 AM (8y9MW)
I guess in the meantime you could simply donate the extra income from the promotion to charity, and deduct it from your gross income. I certainly wouldn't pass up a promotion merely because of bracket creep.
Posted by: CoolCzech at October 25, 2011 07:00 AM (Iaxlk)
195....that should read *on behalf of ACORN.....not Citbank. Obama sued Citibank on behalf of Acorn to make them engage in subprime lending.
Sheesh. Need more coffee.
Posted by: ConservativeMenAreJustHotter at October 25, 2011 07:02 AM (75TGE)
If the only thing I got (besides a shiny new title) was bracket creep- with no prospects of advancement for quite a while? Yeah, I'd pass it up. Or, at most, I'd take it, and then try to parley it into a better position at another company.
But I'm incredibly mercenary, that way.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 07:02 AM (8y9MW)
Posted by: Texan Economist at October 25, 2011 10:58 AM (TC/9F)
I'll take your word for it, not really knowing that much about Huntsman. His rhetoric is enough to turn me off to him... the man visibly hates Republicans.
Posted by: CoolCzech at October 25, 2011 07:03 AM (Iaxlk)
Some time back (months ago or maybe even last year) I read up on voting trends by denomination and, unfortunately (or maybe fortunately), American Catholics don't vote as a bloc. Although officially we all follow the Vatican, in practice over the years the Church has lost control of the USCCB to such an extent that they act as if there really is something called "American Catholicism." So what you have are two types of Catholics: the folks who are doing it right and following the Pope and the folks who wing it and follow the left-leaning US bishops.
I hope this Pope will start busting a few heads and get us back into the fold. If he ever succeeded in doing that, a lot of good could happen on a return to traditional values.
Posted by: Y-not is not getting her freak on at October 25, 2011 07:03 AM (5H6zj)
Posted by: Y-not is not getting her freak on at October 25, 2011 07:06 AM (5H6zj)
Posted by: Y-not is not getting her freak on at October 25, 2011 11:03 AM (5H6zj)
I really doubt there is anything the Pope could do to change American popular culture and the effect it has on our behavior - and especially the sexual behavior of kids. I think the BEST way to encourage a return to traditional values is probably underway: Economic DOOM. The collapse of civilization really does have a way of sobering up people... the historical example is ancient Rome. By the 300's, when the crap was really hitting the fan, the Romans had turned in fact quite "conservative" and sober in their values and behavior.
Posted by: CoolCzech at October 25, 2011 07:07 AM (Iaxlk)
And then a quick segue to Tony LaRussa's inexplicable communication problems.
The steroids have finally destroyed his brain!
Posted by: CharlieBrown'sDildo (NJconservative) at October 25, 2011 07:08 AM (UYLrj)
Posted by: Y-not is not getting her freak on at October 25, 2011 11:07 AM (5H6zj)
Yeah...this is bad. They need music that pumps people up, not puts them to sleep.
Posted by: Tami-Cardinals! at October 25, 2011 07:08 AM (X6akg)
I used to have a trappist t-shirt that said, communism that works.
Posted by: Jean at October 25, 2011 07:08 AM (WkuV6)
Speaking of DOOM, has anybody heard Britney Spears's latest opus?
"Minnie Mouse On Helium" would be a kind description.
Posted by: CoolCzech at October 25, 2011 07:09 AM (Iaxlk)
Posted by: Chuckit at October 25, 2011 07:09 AM (/lqC1)
Because of the Texas fires, Perry had to leave and cancel being in that debate that Demint was co-hosting.
Before Perry left SC....he did a town hall with congressman there.
"There aren't term limits on government bureaucrats......yet" <---- This is one of the things that was said in that town hall that has gone under most people's radar. It got a lot of applause. I was glad to hear it.
I have thought for a long time that we need term limits on govt bureacrat jobs. ....That would cut down on the expense of all those fat pensions that we're having to pay, as well.
Posted by: ConservativeMenAreJustHotter at October 25, 2011 07:09 AM (75TGE)
Posted by: elizabethe at October 25, 2011 07:10 AM (uxW8g)
The US Bishops have been so out of touch for so long it's ridiculous. My parents pulled us out of CCD classes because of the crap the priests and nuns were spewing and that was forty years ago.
The Pope can certainly rein in his Bishops and that should lead to a positive trickle down effect for Catholics, anyway. And there are a lot of is. We're still the largest denomination by far.
Posted by: Y-not is not getting her freak on at October 25, 2011 07:10 AM (5H6zj)
Posted by: Jean at October 25, 2011 11:08 AM (WkuV6)
My wife has a mormon undergarment that says, "Enter Here."
Posted by: Mitt Romney at October 25, 2011 07:11 AM (Iaxlk)
Posted by: Tami-Cardinals! at October 25, 2011 07:13 AM (X6akg)
Clearly, he is trying to act "presidential" by emulating Obama! ;-)
Posted by: Y-not is not getting her freak on at October 25, 2011 11:12 AM (5H6zj)
Plese don't tell me he's making the announcement in front of the wrong camera...
Posted by: Mitt Romney at October 25, 2011 07:13 AM (Iaxlk)
Posted by: Y-not is not getting her freak on at October 25, 2011 07:15 AM (5H6zj)
Barry was right, but only in the we-could-be-digging-with-spoons-instead-of-bulldozers sense.
Posted by: toby928© at October 25, 2011 07:16 AM (IfkGz)
My Day at Occupy Wall Street
IÂ’m the daughter of one of the most long-standing senators in politics and I have been given every opportunity that anyone could possibly dream of. I was given those opportunities as a result of the hard work from both sides of my family. What struck me more than anything is that for the first time possibly in history, people arenÂ’t being given the same opportunities that my parents and grandparents had.
Posted by: kbdabear at October 25, 2011 07:17 AM (Y+DPZ)
Maybe Ace will let someone guest-post?
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 07:18 AM (8y9MW)
Posted by: Y-not is not getting her freak on at October 25, 2011 07:18 AM (5H6zj)
*Sigh*
This is mind-numbingly stupid. The people at OWS are there because of over-privilege, not reduced opportunity.
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 07:19 AM (8y9MW)
Posted by: Jimmuy at October 25, 2011 07:20 AM (hROVJ)
Points to a pallet to illustrate the current tax code, then a postcard to illustrate his new version.
Posted by: Y-not is not getting her freak on at October 25, 2011 07:20 AM (5H6zj)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 11:19 AM (8y9MW)
They literally have absolutely nothing else in their spoiled rotten little lives to worry about. Again, methinks the best cure for this sort of enui is probably... Economic DOOM.
DOOM. It Does a Dummy Good.
Posted by: CoolCzech at October 25, 2011 07:22 AM (Iaxlk)
Posted by: Jimmuy at October 25, 2011 07:24 AM (hROVJ)
In terms of content, he's making it clear that the regulatory environment will be greatly improved.
He seems more comfortable with the corporate section than he was with the individual section.
He's warming up now and calling Obama out by name.
Posted by: Y-not is not getting her freak on at October 25, 2011 07:25 AM (5H6zj)
I guess in the meantime you could simply donate the extra income from the promotion to charity, and deduct it from your gross income. I certainly wouldn't pass up a promotion merely because of bracket creep.
Hello, I don't believe we've met before...
Posted by: Alternative Minimum Tax at October 25, 2011 07:25 AM (7EV/g)
Why did you choose to keep the birther issue alive?
A.It’s a good issue to keep alive. ... It’s fun to poke him a little bit and say “Hey, let’s see your grades and your birth certificate.” I don’t have a clue about where the president — and what this birth certificate says. But it’s also a great distraction. I’m not distracted by it.
Fool
Posted by: Bob from Ohio at October 25, 2011 07:25 AM (ROFkf)
Posted by: Y-not is not getting her freak on at October 25, 2011 07:26 AM (5H6zj)
That's what I kept telling people!
Posted by: Jimmy Carter at October 25, 2011 07:26 AM (0q2P7)
Posted by: AllenG (Dedicated Tenther) is tired beyond tired of the trolls at October 25, 2011 11:19 AM
There are still opportunities for those who borrowed money for a degree of value
If you borrow 100 grand for business equipment, you're going to do better than someone who borrowed 100 grand to go on a shopping and partying spree
But if it wasn't mind-numbingly stupid, we'd suspect that Meggie didn't write the article
Posted by: kbdabear at October 25, 2011 07:27 AM (Y+DPZ)
Nice meme you got going there. You can report back that you've done your job and gamely tried to distract from Perry's bold plan.
Narrative: Perry Unveils a New Tax Pla- Hey, Look, a Birther Comment!
Posted by: Y-not is not getting her freak on at October 25, 2011 07:30 AM (5H6zj)
Posted by: CoolCzech at October 25, 2011 07:34 AM (Iaxlk)
Posted by: shoey at October 25, 2011 07:52 AM (m6OUa)
"Nice meme you got going there. You can report back that you've done your job and gamely tried to distract from Perry's bold plan. "
Shoot the messenger.
If Perry wanted a smooth tax plan roll-out, he shouldn't have made the birther comments to Parade and Harwood.
The Harwood quote proves that Perry intentionally raised the issue. How is that not foolish?
Posted by: Bob from Ohio at October 25, 2011 08:07 AM (ROFkf)
" protests, plus the strikes that have immobilized the country, tends to undercut the Greek message that austerity will carry the day. It's becoming apparent that the citizens simply will not stand for it."
The Greeks have lost and are losing ground with each passing day. If they get the money to pay the creditors, next time will be worse, and the time after that yet worse,...
Their debt is 160% GDP and they're spending 150% of revenues and meeting no better than 85% of each and every austerity target.
Amerikkka's Consumer Confidence today stands at 27%, full-out recession. When Greece defaults we will plummet even further into negative growth, a fraudulent CPI powerless to hide the fact.
Hey stupid, GOP candidate, the economy is dead, talk any 'effing subject you like cause there's nothing that needs saying about the dead.
Posted by: icepick at October 25, 2011 08:30 AM (o0Uno)
The e-book conversion I'm currently working on (Imperial Stars II: Republic and Empire) has a John W. Campbell editorial from 1961 that notes the Church has no inherent objection to communism itself, but rather to the awful conduct of the Soviets and Chinese under the guise of communism. And that some of the past forms of governance the Church had been deeply involved in weren't that different, just lacking the formal declaration of their nature.
Posted by: epobirs at October 25, 2011 09:17 AM (kcfmt)
The houses, are crumbling, all fixtures and wiring of any value have long since been stolen, and they serve as squat space for the sort of people who guarantee a festering sore will only get worse.
Eliminating blocks with no official inhabitants means city services can be cut back and more likely to stay solvent for those areas remaining. The land can go back to meadow or become park or even be farmed. If the area ever finds itself growing again, developers can start from scratch building something modern.
There are no good options when local civilization collapses. But some are less ugly than others.
Posted by: epobirs at October 25, 2011 09:24 AM (kcfmt)
This is truer than you think, since, according to Wikipedia, "a majority of orchids are perennial epiphytes, which grow anchored to trees or shrubs in the tropics and subtropics." In other words, they suck off of existing (self-sustaining) living things and draw sustenance from them. Without the other living thing, they die. They also have a hard time reproducing without a LOT of help - that might be true too (I hope!).
Posted by: ExExZonie at October 25, 2011 11:15 AM (j9x+S)
Posted by: steevy at October 25, 2011 12:38 PM (fyOgS)
DVD to ipad 3
Posted by: doumaduo at October 27, 2011 05:58 AM (7Mpa3)
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Posted by: at October 25, 2011 04:39 AM (e8T35)