Tough Day For Obama

[jms62]

Originally Posted by MaTH716

J, I honestly don't know if that's the truth anymore. Let's face it the middle class is hurting right now. If they are lucky to have a job, they probably haven't had a raise in years. The prices of everything are going up, except on their houses. People have very little money to live, let alone invest into the market. If anything it might be the inverse effect and the people who are struggling while working 2 jobs are getting jealous that the rich are getting richer and they have to continue to live life walking on a tightrope with no net. I want to believe that people are starting to understand how bad it is despite what the stock market does.

Matt if they don't do QE3 and the markets ****ing tank big time going into November how do you think that would have helped Obama? Jimmy Rogers feels the same way, Bernanke did it to keep his job. We shall see. I see it as a ****ing boondoggle. Think about the law of unintended consequences, Fed is saying they will keep doing it until the labor market improves. The net affect is that it will inflate the markets and put a floor under it. Greedy bastard CEO's are the ones that will seriously profit from this. Why would they hire?

[MaTH716]

Originally Posted by jms62

Matt if they don't do QE3 and the markets ****ing tank big time going into November how do you think that would have helped Obama? Jimmy Rogers feels the same way, Bernanke did it to keep his job. We shall see. I see it as a ****ing boondoggle. Think about the law of unintended consequences, Fed is saying they will keep doing it until the labor market improves. The net affect is that it will inflate the markets and put a floor under it. Greedy bastard CEO's are the ones that will seriously profit from this. Why would they hire?

I don't disagree with you there, my point was about people (middle-class) thinking things are good/getting better just because the market is flying.
I want to believe that people are starting to realize that this enitre thing is a house of cards.

[jms62]

Originally Posted by MaTH716

I don't disagree with you there, my point was about people (middle-class) thinking things are good/getting better just because the market is flying.
I want to believe that people are starting to realize that this enitre thing is a house of cards.

Matt... Honey Boo Boo drew more viewers then the conventions. I rest my case.

[MaTH716]

Originally Posted by jms62

Matt... Honey Boo Boo drew more viewers then the conventions. I rest my case.

Gotta admit, that Honey Boo Boo is pretty charming........................

[Cannon Shell]

Originally Posted by jms62

Matt... Honey Boo Boo drew more viewers then the conventions. I rest my case.

Thinking that viewing the conventions will help people be educated about the economy is a stretch, no?

An educated person generally will see through the rhetoric and view the entire process as a waste of time. The uneducated is going to be led astray in either direction.

Let's face it there is no economic plan that will benefit the country AND get the politicians in charge re-elected.

[Riot]

The transfer of money out of the middle and lower classes to the wealthiest has occurred steadily over the past 50 years. It's exactly the financial policies that the American populace has voted for. And now they have it.

[joeydb]

Originally Posted by Riot

The transfer of money out of the middle and lower classes to the wealthiest has occurred steadily over the past 50 years. It's exactly the financial policies that the American populace has voted for. And now they have it.

What complete bullsh*t

[jms62]

Originally Posted by joeydb

What complete bullsh*t

I missed your explanation must be an issue with my browser not displaying your entire post.

[Danzig]

[quote=Cannon Shell;890095]Thinking that viewing the conventions will help people be educated about the economy is a stretch, no?

An educated person generally will see through the rhetoric and view the entire process as a waste of time. The uneducated is going to be led astray in either direction.

Let's face it there is no economic plan that will benefit the country AND get the politicians in charge re-elected.[/QUOTE]

[pointman]

Originally Posted by Cannon Shell

Thinking that viewing the conventions will help people be educated about the economy is a stretch, no?

An educated person generally will see through the rhetoric and view the entire process as a waste of time. The uneducated is going to be led astray in either direction.

Let's face it there is no economic plan that will benefit the country AND get the politicians in charge re-elected.

Well said Chuck.

[jms62]

Originally Posted by Cannon Shell

Thinking that viewing the conventions will help people be educated about the economy is a stretch, no?

An educated person generally will see through the rhetoric and view the entire process as a waste of time. The uneducated is going to be led astray in either direction.

Let's face it there is no economic plan that will benefit the country AND get the politicians in charge re-elected.

Maybe i needed to add at the end of my post. My point was and still is that if the market tanks into the election Obama gets beat. Look with unemployment at 15% it still means 85% of the people have jobs. Some will look at their situation and say hey the market is way up from 4 years ago things arent so bad, why change. What I am saying is that the uneducated and/or lazy far outnumber those that see this as it really is. What it is actually is a collapse in progress where those with the power are heisting money from the masses and will be set and immune from it. Whether the Bloods or Crips win isnt going to change things.

[DaTruth]

Originally Posted by jms62

Matt if they don't do QE3 and the markets ****ing tank big time going into November how do you think that would have helped Obama? Jimmy Rogers feels the same way, Bernanke did it to keep his job. We shall see. I see it as a ****ing boondoggle. Think about the law of unintended consequences, Fed is saying they will keep doing it until the labor market improves. The net affect is that it will inflate the markets and put a floor under it. Greedy bastard CEO's are the ones that will seriously profit from this. Why would they hire?

The Fed hopes this will create another housing bubble that won't pop for another decade or two. It as if the fed thinks our nation's economy should mirror Florida's in the early part of its decade when credit was easy and everyone could be a real estate speculator.

[Danzig]

Originally Posted by DaTruth

The Fed hopes this will create another housing bubble that won't pop for another decade or two. It as if the fed thinks our nation's economy should mirror Florida's in the early part of its decade when credit was easy and everyone could be a real estate speculator.

the biggest problem with banking wasn't housing. it was the removal of the division between investment houses and banks. the resultant mess is what took the housing market down, along with much of the rest of the economy.
how housing was affected was with a credit crunch, which dried up money for loans. then house purchases suffered(along with jobs, etc) which then forced housing prices down...that lead to people who had home equity lines of credit to have that dry up, because if their house wasn't worth as much, it didn't have as much equity either.
higher interest rate housing loans weren't the major cause of the economic meltdown. instead, housing was one of many groups that suffered because of the idiocy engendered by both parties in removing the rules in glass/steagall that had so long prevented exactly what ended up occurring.
so, they added banking regs to prevent it again (and portions of glass/steagall were removed to allow u.s. banks and investors to keep up with another group of banks-europes. funny, they're in a mess too) and romney wants to remove those. he has a shorter memory than the congress and bill clinton did a few years back.