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Old 08-06-2011, 04:49 PM   #11
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Originally Posted by Xanadu View Post
Since you obviously don't watch the market, I'll tell you that despite the losses of the past two weeks which are entirely due to the political shenanigans involving a refusal to deal with the debt cap in an adult manner showing that some of our politicians were actually infantile enough to consider not paying our bills rather than an inability to do so, the stock market is up something like 50% since inauguration day and was lower the day Bush left than the day he took over.
I agree that this is the fault of political shenanigans. Can not blame only O'Bama whether folks like him or not. I am certainly not a stock expert but I have noticed that when a new president comes onboard that the stock markets generally climb.
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Old 08-06-2011, 04:55 PM   #12
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Originally Posted by Tim Barry ( BAYWATCH TOWERS ) View Post
I wasn't talking about market gains or losses. I was making the point that for the first time in almost a decade our nations credit rating was down graded. And no, I am not a person that is well schooled on the happenings of the market. I will be the first to admit that. I wish I did know more. You people don't have to belittle me by calling me just another kool aid drinker. He said he was giving us change, and he did that.
Tim, if that is the worst said to you on the forum for your political views, you will be lucky. Don't let anyone bait you. In my opinion the lower rating is not the fault of one man. Think about the back and forth bickering in the news by both parties.
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Old 08-06-2011, 09:42 PM   #13
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Both political parties? The Democrats have been in charge of both the House and the Senate since the beginning of 2007and since then they have been spending like drunken sailors. The elections of 2010 finally put some responsible people in the Congress who want to cut spending and balance the budget and somehow this mess is partly their fault? I don't get it
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Old 08-06-2011, 11:03 PM   #14
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Originally Posted by Rockntroll
Both political parties? The Democrats have been in charge of both the House and the Senate since the beginning of 2007and since then they have been spending like drunken sailors. The elections of 2010 finally put some responsible people in the Congress who want to cut spending and balance the budget and somehow this mess is partly their fault? I don't get it
Responsible? Several of those newly elected Tea Partiers wanted to default rather than raise the debt ceiling, a move that would have put us at single A or B+.
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Old 08-07-2011, 12:24 AM   #15
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Default was never going to happen - we would have paid the interest owed, paid SS and Medicare obligations and then sharply curtailed everything else. Bush did not do us any favors, but he was working with a D congress and was busy fighting 2 wars. Obama has taken spending to the next level. How come we have not had a budget in 2 years - WTH? There are things that could be done to turn the economy around, but they would require BO and his advisors to repudiate their ideology and change course - they are incapable of doing this...

You're pouring yourself a beer and the glass is filling up quickly. Do you stop pouring? If you are Obama and the liberals, you get a much larger glass and keep pouring. If you are a conservative, you keep your glass and stop or slow down the pouring. That is the debt ceiling-deficit argument in simple terms.

I have a friend who is very knowledgeable in the market and he is unsure what will happen Monday. But we both agree it ain't good. Should be interesting.
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Old 08-07-2011, 04:04 AM   #16
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Why didn't they just go ahead and raise the debt limit to $100 trillion since, based on what all the "sophisticated" people are saying, it's just funny money anyway? The only difference is that when I pull out a dollar bill, it has a picture of some dead white guy on it instead of the monopoly guy with the big mustache, but basically it's the same thing. Am I missing something here?

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Old 08-07-2011, 05:14 AM   #17
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Several of those newly elected Tea Partiers wanted to default rather than raise the debt ceiling,
No... Those folks always showed that we had no need to default. Keep our soldiers paid, our welfare covered and debt paymants made...

Brent
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Old 08-07-2011, 09:53 AM   #18
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The Tea party is the only sane people in the game. They want America to remain great and free
they see America on a downward spiral and operating with NO BUDGET for two years .
they see 4 Trillion thrown down a rat hole and now it has been raised a few more Trillion which will result in 20+ trillion in debt very soon and more money for this current administration to blow.
Social Security was solvent until the mid 2030's , then we are worried about next months checks going out. What exactly has gotten better since BHO took office? he has wasted money like he stole a credit card.
Yes Bush was an Idiot also but not even in the same league as BHO who makes Bernie Madoff look like a novice

soon we will be refinancing our debt and have to borrow more money for the higher finance charges.

I Live Debt Free
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Old 08-07-2011, 11:41 AM   #19
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I Live Debt Free
I am another...

Po' as hell... But debt free.

Brent
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Old 08-07-2011, 04:21 PM   #20
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Responsible? Several of those newly elected Tea Partiers wanted to default rather than raise the debt ceiling, a move that would have put us at single A or B+.
Default? That's just a hype by Obama and the Democrats. Do you think the country would have come to an end if the debt ceiling was not raised?
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