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lquadland10 (< 20)

Depression

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January 16, 2008 – Comments (5)

If everyone is so conserned about the state of the Country, then just look at history. The Great Depression was because bussiness CEO's made about 40 dollars to every $1.00.       Now it is about for the working poor about 530.00 to $1.00       Do you see history repeating it's self? Top that off with you can now short on a down day. It makes it twice as bad.   Congress has to pass a mimun wage bill to make it $20.00 an hour indexed to inflation. That means energy taxes food and everything else. Pass perment tax cut to 20% for bussness making 100 million or more; 10% for bussiness making 10 million or more; 5% for bussiness making 5million or more. And last but not least 0% for anyone making less than 5 million. This will bring back companies who went overseas. Get rid of death tax. This would put money in our pocket without government having to give out more money and let the free market do its thing but they won't do this. Why, because they like hitting their head against a wall to make a broken situtation work. This has been going on since the first depression and nothing has changed. This is going to be so bad that some will start a world war say Russia and China? We need to step back from this. For now I will just watch and learn from what my picks do. ROCK O. LYNDA p.s. I this how the French Revolution Started? 

5 Comments – Post Your Own

#1) On January 16, 2008 at 11:19 PM, jt225t (86.04) wrote:

I don't see us going anywhere near a depression.  We are a different time in our history and well being.  We are in a recession, but by Q3 we will be ok.  I do agree about dumping the death tax, it serves no purpose at all.

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#2) On January 17, 2008 at 12:37 AM, Bman409 (< 20) wrote:

How would the Neocons fund their endless wars, under your tax scenario??

 

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#3) On January 17, 2008 at 2:31 AM, MakeItSeven (32.74) wrote:

If you want something to read, here is what I wrote in the other thread:

 

If you want to compare Coolidge prosperity in the 20's and now, this is a good short summary.

As for whether cutting taxes will spur enough economic activities to make up for the initial lost tax revenue and eventually reduce the national debt or not, this chart says it all.  It's outdated by half a year though.  The slower GDP growth and the higher debt should make it go straight up from 2008.  BTW, some people believe that it's an intentional attempt by the Republican governments to destroy Social Security by hogging debts to the eyeballs so that no debts could be paid back, including the money owed to SS.

At some point the "United States ATM" will stop working just like the housing ATM.   It's a design by the GOP but when the shit finally hits the fan, they will find out that it's impossible to benefit the top 1% of the population while hurting the remaining 99%.  But, maybe then they only need to say "Who could have foreseen that ?" and there will be people who believe them, especially since the richest 1% will control all the MSM.

Anyway, the problem with inequality is not caused as much by income inequality as by asset inequality.  Removing the estate tax will accentuate the asset inequality and will quickly bring back the feudalism era.

And, of course, assets can bring a lot more income than even the top CEO can make.  

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#4) On January 26, 2008 at 12:36 PM, abitare (99.34) wrote:

The WSJ story on "peak oil"

In a World Short Of Oil, Provisions Must Be Made http://online.wsj.com/article/SB120128939885117541.html

MIDDLEVILLE, Mich. -- It was around midnight one evening in November when Aaron Wissner shot up in bed, jolted awake by a fear: He wasn't fully ready for the day when the world starts running low on oil. Yes, he had tripled the size of the garden in front of the tidy white-clapboard house he shares with his wife and infant son. He had stacked bags of rice in his new pantry, stashed gold valued at $8,000 in his safe-deposit box and doubled the size of the propane tank in his yard. "But I felt panicky, like I needed more insurance," he says. So the 38-year-old middle-school computer teacher put on his jacket and drove to an all-night gas station, where he filled three, five-gallon jugs with gasoline. "It was a feel-good moment," says his wife, Kimberly Sager. "But he slept better." Aaron Wissner, a Grand Rapids, Mich., middle-school computer instructor, is part of a growing community of so-called peakniks, who are convinced that peak oil production is nigh and that there will be difficult consequences. [....]

I just read the WSJ article. Although I am bearish and I was looking for some farm land. Now that the press is raising the issue on the front page, I am thinking this is bogus or priced in or will be over in the next couple of years.

Then a couple hours later I am leaving the apartment lobby, I see a book on the shelf. Crisis Investing Opportunities and Profits in the Coming Great Depression. By Doug Casey

In the cover by the author:

"The financial waters, both here and abroad, are troubled now. I'm convinced that the gale-force winds will soon hit us, followed by tital waves of panic and collapse" 

I just looked up the book. It turns out the book was the 1979  Crisis Investing (1979) became the largest selling financial book in history. He recommended gold, real estate, land, gold stocks, etc.... Sound familiar?

"the United States will enter a depression... probably by 1983 at the latest" 

Fear sells... and what sells, gets sold over and over. I will read the book and let you know.

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#5) On January 26, 2008 at 11:39 PM, lquadland10 (< 20) wrote:

buy oil and gas on the dips and it is going to be hard during the earning season it will be scary because everyone is selling oil due to recession worries but oil needs to be high because oil is based on the dollar and 100.00 becomes 60.00 in england and opec can't let the price fall here because if we go to 60 here they will get 25 euros in england.  As our dollar falls oil prices will go up as the euro goes up.I am looking for 120.00 because the fed will keep cutting and oil will go up. Thus seals our doom. Bail out the banks and mess us up our oil prices. opec is also looking at changing currency from the dollar to something else and I really don't want to think about that. Bush still doesn't understand that is why oil is still high. A very week dollar is why. Also this is the time to start to building your base because we are starting to go into the lol summer driving season. look at refiners. cop valero xom they all will have ( it happens every year like clock work ) higher gas prices because there will be refinery shut downs for machine repairs. This will continue until labor day. Why they don't do this in the winter is crystal clear. They can control the gas flow and price. That is why they never get charged with price fixing. Don't worry about the crack spread during this time they will be rolling in profits. Rock On. I remember the the gas prices of the 70's and the stagflation of the 80's Regenmomics was a farce.Fore stalled the Depression by a good 30 years helped along by Clinton and Bush.  Has anyone factored in the the wars in Iraq and Afghanistan?  During the 70's we were recovering from Nam and the difference is recovering not still in 2 wars.  Also we had more saved back then. Intress was at 18% more or less and housing was going bad because of adjustable rate loans. Sound like right now history is  repeating its self to me but with  some exceptions. 2 wars now and 9/11.  As for death tax and the feudalism era.I wonder if the small farmer who had to sell to large cooperations because of the death tax and large land taxes would agree with you. I know the ones I talk to don't. Don't worry the government will let China the country and not the china's  people buy our Country bit by bit so we won't ever know it is gone. Hum........ burkas or communism what a choice    I don't care at this point just close the damn boarders. IF 12 mill people left, more jobs better pay, 12 mill leaving makes health care go down house insurance rates go down. Oil prices go down because value of the dollar will get stronger. The cost to the prison system goes down because they can't get in again. This is dajavu all over again but worse. We turned our attention to the economy and housing and all that other stuff and out flank is out in the open and no one is watching. This is when Al queda or Iran or Chavez will take advantage of us because we are week. That didn't factor into the 80's  either.  Oh yea its different now but not in a good way.  Can't find people to work the fields to bring in the crop? Go to the prison I am sure there are a few people who want some fresh air and blue sky.  The unintended consequence?  How well do you think we will do if we are attacked again? Do we have the money to go to war? To defend ourselves?  WE Must.  Oh yea I have been through this before and if you think 9/11 and Katrina was bad? You ain't seen nothing yet. So sad to say. 

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