Double dip?

by charvaka Tue Aug 02, 2011 4:23 pm

Mitch McConnell's primary objective for the country is to make Obama a one-term president. And the best way to do that would be to ensure a double-dip recession. The debt deal goes a good way in ensuring that, with the expiration of the payroll tax holiday and unemployment insurance. It looks like we may be at the beginning of the second dip.

http://www.goldalert.com/2011/08/ex-fed-official-economic-growth-dangerously-close-to-zero/

by Hellsangel Tue Aug 02, 2011 4:25 pm

https://such.forumotion.com/t2335-making-sure-the-recession-becomes-more-painful-the-gop-way#20154

by charvaka Tue Aug 02, 2011 4:30 pm

Hellsangel wrote:https://such.forumotion.com/t2335-making-sure-the-recession-becomes-more-painful-the-gop-way#20154

Haha. I need to work this out of my system. It will take a few days.

by Kris Tue Aug 02, 2011 10:56 pm

charvaka wrote:Mitch McConnell's primary objective for the country is to make Obama a one-term president. And the best way to do that would be to ensure a double-dip recession. The debt deal goes a good way in ensuring that, with the expiration of the payroll tax holiday and unemployment insurance. It looks like we may be at the beginning of the second dip.

http://www.goldalert.com/2011/08/ex-fed-official-economic-growth-dangerously-close-to-zero/

>>>> Looks that way as far as the second dip goes. The fools wanted to cut off their noses to spite their faces, looks like. Obama can still turn this around by insistently pointing out the tea party's role (and repub complicity, by extension) in this fiasco. I think Obama's big gov't panacea is not the way to go in the long run, but now was not the time for an abrupt change. Cutting back spending in a recession has got to down in history as one of the dumbest economic strategies. I don't think the populace is going to buy into this as things start unfolding. The tea partyers are in for a surprise.

by Marathadi-Saamiyaar Tue Aug 02, 2011 11:32 pm

Well.. is it time for me to call a near double D ?

by Another Brick Wed Aug 03, 2011 12:45 am

i am wondering if i should pull out now. i am not making much money, but don't want to lose it either. and the RBI is raising interest rates every two months making the matters worse for the senseks. i may sell on a pullback i expect soon.

by Marathadi-Saamiyaar Wed Aug 03, 2011 12:53 am

I moved much of my retirement funds into MMKT and inflation-linked Bonds at 12400. Lemme see whether i should get back in at 10900.

Of course, i did not pull out from other non-retirement funds - which are all in very aggressive mutual funds for the last few years.

Who knows... at this rate, I might have to work till I am 150 yrs.

by Merlot Daruwala Wed Aug 03, 2011 3:02 am

charvaka wrote:Mitch McConnell's primary objective for the country is to make Obama a one-term president. And the best way to do that would be to ensure a double-dip recession. The debt deal goes a good way in ensuring that, with the expiration of the payroll tax holiday and unemployment insurance. It looks like we may be at the beginning of the second dip.

http://www.goldalert.com/2011/08/ex-fed-official-economic-growth-dangerously-close-to-zero/

Double dip, triple dip..whatever. Let's all hold hands and admire the sheer beauty of democracy in action as it's being played out in the most glorious democracy on earth, as different groups - job creators, job takers and the merely jobless - jostle for scarce resources.

Right now, I feel my chest burst with joy at the sheer exuberance of watching all that beautiful people power play itself out. I'll applaud even more when Obama gets into the spirit of the game, abandons his self-imposed party-pooper fiscal discipline and wins back his core constituencies with big huge, populist sops. That, I say, will be a manisfestation of the true essence of democracy.

by charvaka Wed Aug 03, 2011 3:11 am

Merlot Daruwala wrote:Double dip, triple dip..whatever. Let's all hold hands and admire the sheer beauty of democracy in action as it's being played out in the most glorious democracy on earth, as different groups - job creators, job takers and the merely jobless - jostle for scarce resources.

Right now, I feel my chest burst with joy at the sheer exuberance of watching all that beautiful people power play itself out. I'll applaud even more when Obama gets into the spirit of the game, abandons his self-imposed party-pooper fiscal discipline and wins back his core constituencies with big huge, populist sops. That, I say, will be a manisfestation of the true essence of democracy.

Haha. The debt deal is not populist at all. A populist deal would be one that represents broad public opinion. Right now, this deal represents what a smallish minority of one of the two major parties wants. According to opinion polls, a majority of Republicans believes that the right approach to cutting the deficit would involve some revenue increases. Therefore, not surprisingly, the leader of the GOP in the House (in his words) "put revenues on the table." But a highly militant and vocal minority of his membership -- just about a third to be precise -- made him pull back. That is the exact opposite of populism.

by charvaka Wed Aug 03, 2011 3:15 am

Alternatively a populist deal would have different pieces in it that make different interest groups happy, and be structured so that each of those groups has more things to be happy about than there are things in it to be mad about. The distinguishing feature of this deal is that is makes everyone mad. Again, that's the exact opposite of populism!

by Merlot Daruwala Wed Aug 03, 2011 3:27 am

Sir, you misunderstand me. Pls revisit the last sentence of my post. The true essence of democracy shall flow only when Obama sheds his boring fiscal conservatism and starts spending more.

That said, populism need not always represent broad public opinion. As regional parties have demonstrated, merely pandering to a small section comprising the core constituency is sufficient.

by charvaka Wed Aug 03, 2011 3:30 am

Merlot Daruwala wrote:Sir, you misunderstand me. Pls revisit the last sentence of my post. The true essence of democracy shall flow only when Obama sheds his boring fiscal conservatism and starts spending more.

That would be AWESOME for the economy. What the US needs right about now is huge dollops of fiscal stimulus, not austerity of the sort that crippled Indonesia and Thailand in the late '90s, or undid FDR's work in '37. Populism need not be out of line with good common sense economics.

by Merlot Daruwala Wed Aug 03, 2011 4:51 am

Indeed. And I say the essence of democracy is to go all out for deficit financing and load as much debt on future generations as possible - after all, they owe us that much and more for the fine institution of democracy we're bequeathing them.

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