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alstry (35.03)

Is it just me????

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January 19, 2009 – Comments (12)

We are just coming off a President from a party that was supposed  to be fiscally conservative and pissed away more money in his term and increased the deficit by more than all previous administrations combined.

Now, our largest state can't even afford to pay tax rebates it owes its citizens, jobs are being cut by the millions around the nation, major corporations are bankrupt or on the brink of bankruptcy, and we are holding the mother of all election parties spending hundreds of millions of dollars.......for what?

Warren Buffett characterizes the current environment as an economic Pearl Harbor.  I call it a tsunami.  Others have similar analogies......but in the end, what the heck is the party all about???

Is this sorta like the last supper before our savior is about to be crucified?????

12 Comments – Post Your Own

#1) On January 19, 2009 at 2:41 PM, snakeyd (< 20) wrote:

I worry about the battle that is about to be waged on carbon dioxide.  Another boondoggle foisted upon Americans by our beloved government.  Does not matter what party is in charge, same thing over and over again.   Failure.

It is like they are trying to break us.

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#2) On January 19, 2009 at 2:44 PM, WeenTang (53.02) wrote:

The political momentum shifts from conservative to liberal and back and forth.  We expect Republicans to cut spending, and liberals to increase it.  The shifting of power kind of keeps us at an equilibrium. 

Since the Republicans decided to spend like drunken sailors, I'm very concerned that the Democrats are going to keep running with this reckless spending mentality and send us into a world of hurt.

The writing is already on the wall.  No one can even put a definite dollar amount on bail out spending to date.  We're just running blind.

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#3) On January 19, 2009 at 2:52 PM, alstry (35.03) wrote:

Any bets????

Alstrynomics forecasts, absent this nonsensical innaguration etravaganza, that Obama will be the most fiscally conservative president in at least 50 years.......factoring in the relative economic environment he is facing.

Get ready to make some BIG sacrifices.....your government now NEEDS you!!!!!

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#4) On January 19, 2009 at 3:06 PM, RVAspeculator (31.13) wrote:

The problem here is just the interest on the debt is going to make the debt increase...  like someone who is paying less than the interest on their credit cards.   I believe we have past the point of no return on our debt once we spend the next trillion on the Obama plan and what happens after this does not really matter too much.

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#5) On January 19, 2009 at 3:23 PM, EPS100Momentum (71.97) wrote:

Is it just me???? Alstry , I think its just you and a few of the bear crowd here on Motly caps that thinks America is going to fail. The majority of Americans believe in America and its greatness to be able to rebound.

Thats why people keep trying to come to America. Do you see anyone trying to escape America?

When that happens then you know America is about to collapse.

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#6) On January 19, 2009 at 3:33 PM, amassafortune (29.67) wrote:

alstry is correct. Obama has the ability to dig into and command details like Carter, but with Reagan's political smoothness. Already, he has exhibited the character to consider the needs of citizens when being lobbied by other leaders of business and politics. Expect a variation of Kennedy's "Ask not what your country can do for you..." message as a significant part of his speech tomorrow. He has surrounded himself with people like Paul Volcker who do not expect personal benefit from their service. Obama will attack stimulus debt as soon as the economy stabilizes.

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#7) On January 19, 2009 at 3:41 PM, StKitt (30.39) wrote:

Conservative or liberal or moderate, what really matters is fiscal responsibility.

Bush, Cheney, et al, are certainly conservatives (by ideology), but they (and Congress) failed because they were and continue to be fiscally irresponsible. Alstry, I don't believe Obama will be fiscally conservative, but I do believe he and the Congress will be fiscally responsible.

Responsibility usually (emphasis added) breeds confidence, some of which may slow the deflationary trend over the next four years. But the financial system largely violated its own basic rules... so now we all have to get in line at the barber's.

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#8) On January 19, 2009 at 3:58 PM, alstry (35.03) wrote:

EPSMomo....the only person failing is you if I judge you by your score......

There is no one calling for the failure of the United States......I am an American and damm proud of it.....it is just that we have a breakdown in leadership and fiscal responsibility.

Now, in all seriousness, I am not sure what you mean by failure.   If you define bankruptcy as failure, than get ready for a lot of failures.....at many many levels.  If you mean the end of the United States like that Russian professor suggested.....then I suggest you go and drink lots of good vodka with him and continue your fantasies.

America faces some extraordinary difficult times ahead of it.  Get ready for Obama to inform you of it as well....very early into his presidency.  My expectation is that the character coming from this man will be very very different than what he just experienced.  No economy is doing fine while the middle class is being gutted.

That said, with charisma comes caution.  We as Americans must learn to become informed.....there can be no democracy with ignorance.

And you my friend, in reading a few of your posts, need to start reading a lot more.

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#9) On January 19, 2009 at 5:38 PM, gman444 (29.11) wrote:

EPS100:  I don't have numbers, or a specific source, but I've read that a lot of illegal immigrants have headed and are heading back to Mexico.  On another note, I find your blogs extremely useful, and I hope you keep posting.  Most importantly, representation of all perspectives is crucial to the dialogue that is CAPS.  I am sure different people on CAPS use your information in various ways.  I've found your predictions to be excellent contrary indicators. 

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#10) On January 20, 2009 at 3:10 AM, mliu01 (< 20) wrote:

Just EPS100Momentum believe whatever he belives.

 There are two sides of a trade. I want him to be on the otherside of my trade.

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#11) On January 20, 2009 at 3:24 AM, mliu01 (< 20) wrote:

count me as 2.

 I thought exactly the same thing.

Just wondering how many people used their CC to attend those parties. I really hope it is not the last party. Should I believe Obama will fix all this things? Well, I will believe it when he start to put some bankers in jail. If I don't see that. His chance of fixing things is like the first letter of his first name.

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#12) On January 20, 2009 at 4:22 AM, brwn8484 (89.05) wrote:

Thought you all might be interested in a novel NEW way to solve our crisis.  I think that all the politicians, wall street leaders and banking professionals should be rounded up and forced to step down.  All those people that defrauded or criminally caused the financial crisis should be put to work in menial labor positions and pay back all the money they stole.... no questions, no pardons, no kidding.

Business Taxes in US should be slashed.  US Corporate Tax rates and personal tax rates are near highest in the world.  We should be stimulating jobs..... Instead we are giving away millions of dollars to crooks and Ponzi scam artists masquerading as leaders (and I dont mead Mr Madoff).  We should be giving Tax holidays to all new businesses and businesses that are hiring.    And lets not piss away billions in wasted infrastructure spending through wasteful govt programs.  Lets put the money to good use in research and development on alternative energy and  other new small business start ups.  Our biggest problem is our lack of energy independance.  After multiple energy and oil crises we still have no credible policy to address energy independance.  Lets create a group to lobby for protection of US middle class.  The rich are getting richer, and the poor have a new savior.... but the average middle class joe is going to get scrxxxd like never before.  

Social Security, Medicare and every other govt Ponzi scheme needs to be re-worked so that only US citizens can benefit.  And all businesses large and small that are fiancially insecure should be allowed to write off a certain amount of bad debt through government loans.  After these one time payments, if business is still failing, let it fall.  One time bailout and one last chance.... thats it.  We are prolonging the agony and the breadth of this mess.  Lets put it to bed and be done with it.  

Unfortunately, eveything I mentioned should have been done 100 years ago.  Hopefully someone in Washington will wake up before the next century or next great depression.  But I wouldnt put your hopes in the new group of Ponzi scammers in town.  Same old story, spend till you drop and blame the other party.  when will we learn?  Maybe never!

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