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McCain Plan Sends US to Zimbabwe Economics

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June 10, 2008 – Comments (7)

Clearly McCain doesn't have a plan for how the US pays for what it uses.  Lowering taxes simply means it regresses further in not paying its bills.

The gross dependance on the rest of the world to borrow when there is no plan for how the debt gets paid back means interest rates have to go way up to compensate for the risk of default and for the declining dollar.  Following corportate interests has resulted in more billionaires and poverty, income discrepancy that approaches the depression era.  The ratio of people without disposible income has increased enormously and when the masses are maxed out, the economy has no stimulation.

Taxes that cover the expenses mean that perhaps the economy is a turtle economy, but it wins in the long run.  Right now the hare is doing a Rip Van Winkle sleep, and truly, 20 years to recover from the hole that Bush dug seems about right to me.

7 Comments – Post Your Own

#1) On June 10, 2008 at 11:51 AM, abitare (35.89) wrote:

I posted on this on June 07, 2008:

McCain vs McCain (3:45)

 

McCain Wants Greenspan Back (:48)

 

John McCain & Miss Teen SC on Economics! (1:18)

http://www.youtube.com/watch?v=HcdLO3jKkPo

John McCain is Corrupt:

ALERT: John Mccain YOUTUBE videos being REMOVED!!! by manumit Thu Jun 05, 2008 at 07:13:30 AM PDT

"Videos of his speech mixed different ways are being removed from the internet. This goes back to the Kos story about Mccain's various Youtube problems. It looks like they have a staff working extra hard now to scrub youtube of any negative videos of Mccain."

http://www.dailykos.com/storyonly/2008/6/5/10929/36955/794/530090 

John McCain admits Iraq War was over oil

By: SilentPatriot on Friday, May 2nd, 2008 at 3:45 PM - PDT  

http://www.crooksandliars.com/2008/05/02/john-mccain-admits-iraq-war-was-over-oil/

Corrupt NEOCON: 

Newest McCain official: President has "near dictatorial p......

(updated below - Update II)

Bill Kristol today proudly announces that one of his Weekly Standard staff members, Michael Goldfarb, was just named the Deputy Communications Director of the McCain campaign. 

McCain's Day Marked By False Statements And Gaffes

 June 4, 2008 06:35 PM

http://www.huffingtonpost.com/2008/06/04/mccains-day-marked-by-fal_n_105283.html

 

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#2) On June 10, 2008 at 12:02 PM, joshnix2 (< 20) wrote:

Please tell me how McCain's thoughts will hurt us more? 

First, Congress is more of a factor than President and then there is the lag factor. The Democrats were in control for 40 years and we had all kinds of markets while they held Congress. We had the decade of a flat market after Johnson and a democrat Congress ramped up spending on Vietnam and social programs trying to end poverty and caused huge inflation and the collapse of the dollar that resulted in the 1971 OPEC deal under Nixon to save the dollar.

But the lag factor is important too. The 2000 market peak is a good example. The first 2 years of Clinton's 2nd term were already showing signs of stress and we knew we were heading into a recession a year before Bush took office because of job growth trends.
quote:
Nondurable manufacturing employment peaked at 7.9 million workers in January 1995. Components that peaked under Clinton included: food and kindred products (October 1995); textile mill products (November 1994); printing and publishing (May 1998); and rubber and miscellaneous plastics (February 2000). Many of these jobs were once concentrated in the South.

Durable manufacturing peaked at 11.2 million workers in April 1998. Components that peaked under Clinton included: lumber and wood (February 2000); furniture and fixtures (July 2000); primary metals (January 1998); fabricated metals (July 2000); industrial machinery and equipment (March 1998); electronic and other electrical equipment (November 2000); transportation equipment (October 1998); instruments and related products (March 1998); and miscellaneous manufacturing (April 1998). Some of the largest durables goods employment is in the upper Midwest.
http://nationalreview.com/nrof_comment/comment-kaza051603.asp

=========================
But, before you completely blame Clinton, remember that Congress changed hands under him.

However, the policies that are causing problems and that are usually made worse under Democrat Presidents and then show up in the market in the 2 to 4 year lag it takes policies to show up, began 70 years ago for the most part. The seeds for that were sown even before that in 1913.

I have to laugh at people who try to blame administrations for what is wrong when it is voters who were demanding "change," that caused the problems. Also, because the average voter doesn't understand the lag factors involve, well over 1/2 the time they are blaming the current administration or praising the current administration for what the previous one did.

Take a tax hike. It takes about 2 - 4 years for a company having to pay higher corporate taxes to find a new country, buy land, negotiate with the government, build a factory, hire and train and establish a shipping contract to export back to the U.S. Once that is done, they can close the doors here but, another Congress and President are in office usually by then.

It takes the Fed 9 months to 2 years for rate changes to fully have the impact they have. Again, it takes that long for companies to evaluate the change, plan and then react once they see the impact on their bottom line.

A tax increase may initially raise tax revenues, lower the deficit and look good. That can happen pretty quickly but, 2 to 4 years later, the real impact hits. Another thing that Congress, in both parties does, is when the tax revenues start to rise, and deficit drop, is spend more because voters want an end to some "unfairness" and will vote for the Congressmen that give them what they want.

One final thing, the wealthy are not the problem. Socialism makes them more powerful as they align more and more with the government and centralize their companies to offset the higher costs of business. Check out the donations to both parties and you will see the biggest corporations with links to the Central Banks internationaly are used to funnel money to both parties and both party's leaders are tied to the CFR. Look at the Presidents. Both parties get their candidate from the same international organization, the CFR.

Who just went to the Bilderberg meeting? Obama and Clinton (believed not absolutely proven)
http://tekgnosis.typepad.com/tekgnosis/2008/06/hillary-obama-i.html
=======================

All but about two presidents have come from this group since it was formed and the list includes both parties. The CFR is where many of both parties get their appointees and advisers from. The membership is comprised of the most powerful people in the world and is linked closely with the Bilderbergs with David Rockefeller as a key leader in both.

We face candidates from both parties that have promised to spend us into deeper debt than we have ever known. Obama may not be as bad with only about $800 billion in promises because McCain's promises contain more defense spending but, both are very bad for America.

If the wealthy are taxed, you have the potential to destroy the nation. A millionaire a day leaves France because of taxes and takes the investments and jobs he would have created with him. Wealth can be put in foundations, trusts, tax free securities investments in other countries and the person can move as they are doing in France.

Tax high income and you will see higher prices because the companies will raise prices so the after tax salary remains high enough to cover their standard of living and that will cause inflation on the lower wage earners.

Already because of tax on the wealthy and business, low wage earners who don't even make enough to pay income tax are in the 50% tax bracket. 7.5% payroll tax, 8% state and local and sometimes more and 35% hidden in prices that have been passed on due to higher tax on the "wealthy." But, because it takes 2 to 4 years for some of that to get passed through, voters blame the wrong people for what is happening in many cases.

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#3) On June 10, 2008 at 1:06 PM, leohaas (31.60) wrote:

Yet another one of these political posts, and this time by a foreigner. Why do we allow CAPS to become one of those ugly political blogs?

Can we please stick to investment advise here at CAPS? 

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#4) On June 10, 2008 at 1:36 PM, EScroogeJr (< 20) wrote:

Remember how Bush the Father told you to read his lips? McCain is just giving empty promises he knows he can't keep. Fool that he is, he doesn't even understand that these promises have lost their value a long time ago. The correct way is to promise a pullout from Irak, free medical care and high property values and take the libertarian, small-government crowd for granted. They cannot abandon you anyway because what other choice they have? As long as you're white, the bible belt is yours by definition.

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#5) On June 10, 2008 at 2:31 PM, Gemini846 (49.66) wrote:

Personally I am so tired of big government. I wish Ron Paul would get the stick out of his arse and actually do some fundraising so he could get elected. Most of these grass roots hippies running around promoting him don't even know what he stands for. They've confused libertarian with liberal.

Then we've got the holy grail nobody will even talk about these days except those who are young enough to never see a dime. Ya, im looking at you social security.

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#6) On June 10, 2008 at 10:16 PM, dwot (50.85) wrote:

Gee, leohaas, I don't how you can't see that what happens with government fiscal policy is about investments.

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#7) On June 11, 2008 at 12:47 AM, Turtleread (66.78) wrote:

I think that McCain's comment that he knows nothing about the economy is very telling.  And when you have lobbists and folks like Phil Gramm advising the senator about the mortgage crises you compound the problem.  There is no doubt that Senator McCain is a brave and patroitic man willing to and having served his country, but we are rapidly headed toward Presidential one-man rule in this country just like in the African country mentioned and a currency that will be just as worthless!

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