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Old 09-19-2012, 07:12 PM   #3001
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CRS report: number of able-bodied adults on food stamps doubled after Obama suspended work requirement | WashingtonExaminer.com
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Old 09-19-2012, 07:15 PM   #3002
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Originally Posted by cordycord View Post
You're called "Scrappy" because you just like a good fight, right?
Yep. It started when I was the smallest pulling guard and outside linebacker in high school (our team did not when many games) and continued as light weight Muay Thai fighter. I'm little but I'm scrappy.

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If Big Ben is firing up the printing presses in order to fund QE3, then our monetary policy has a direct correlation to debt. My concern is if the debt bubble unwinds--which is a very real possibility--then everything we've discussed will happen.
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You no like my mixed metaphors?
Your metaphors are more than mixed: they are confused.

1) All FOMC open market operations (aka anything designed to reduce or increase interest rates, including reducing or raising the Federal Funds Rate target) does and has for the past 40 years involved "firing up the printing press" (or firing up the spreadsheets as happens today).

2) The Federal Reserve's balance sheet does not have a direct correlation with US government sector debt or private sector debt. If anything, the past several years there has been an inverse relationship with the private sector. That is, the Fed's balance sheet has increased greatly while the private sector has delevered significantly (corporations quicker than households).

3) The Federal Reserve never has to sell any debt security they buy so there will virtually never be a forced unwinding or bursting of any sort of bubble there. They can hold those securities until maturity. Any interest and profits are passed along to the US Treasury (and, thus, sucked out of the US economy) and any losses are absorbed in their black hole of a balance sheet.


Edit: That's why I think Mark is asking you to think through how what you perceive is a bubble can unwind or burst. "Unwinding" being pretty benign to me and "bursting" being much less so.
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Old 09-19-2012, 10:05 PM   #3003
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This was too good not to share. Protester dies after inhaling fumes from burning a US flag:

Asshat gets what he deserves
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Old 09-20-2012, 10:05 AM   #3004
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arrrrrrrr. I be more important than those silly Jews, Matey.
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Old 09-20-2012, 10:07 AM   #3005
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U.S. officials clarify administration description of two heroes in Libya attack | WashingtonGuardian

lollipops.
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Old 09-20-2012, 10:07 AM   #3006
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long, deadly, lollipops

Obama official: Benghazi was a terrorist attack | The Cable
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Old 09-20-2012, 10:13 AM   #3007
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What's one of those rules of facism, Bob?

https://store.barackobama.com/obama-...lag-print.html

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Old 09-20-2012, 10:21 AM   #3008
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The epitome of everything I hate about Obama:



“you're willing to stake your political career on there being a common ground?”

“That’s the core of my faith,” Obama replied.


his position has not evolved; he still hates America, the American way, and your success.
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Old 09-20-2012, 10:35 AM   #3009
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and why we need real conservatives in office:



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Old 09-20-2012, 11:06 AM   #3010
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Quote:
Originally Posted by Anthony Gregory
You’d think between the antiwar radicalism of Obama and the laissez faire anarchism of Bush, we’d have a libertarian paradise by now.
Boom.
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Old 09-20-2012, 11:40 AM   #3011
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Bush and Obama are big government heavy spenders...why would that make any libertarian happy? They aren't hippies.
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Old 09-20-2012, 11:56 AM   #3012
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Originally Posted by Braineack View Post
What's one of those rules of facism, Bob?

https://store.barackobama.com/obama-...lag-print.html

I really don't get all the uproar over this. Do people think he really wants to replace the nation's flag with some drawing a guy did for a political campaign?
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Old 09-20-2012, 11:59 AM   #3013
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It would be like replacing turbo kitty with supercharger dirty-poo-eating dog.
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Old 09-20-2012, 12:27 PM   #3014
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Originally Posted by Braineack View Post
It would be like replacing turbo kitty with supercharger dirty-poo-eating dog.
Exactly. Which is why it'll never happen.

And seriously, he can't be the only one to have a campaign symbol integrated into the US flag. I've tried searching the interwebs, but so far it's failed me.
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Old 09-20-2012, 12:29 PM   #3015
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he's the only one with the Brown Coat following with ***** enough to create one. The obama flag represents collectivism, and is a mockery of American values.
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Old 09-20-2012, 12:40 PM   #3016
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He didn't create it, though. Some artist submitted it, and I'm willing to bet that Obama had nothing to do with the approvals process. They put it up on their website to sell as a bumper-sticker, and people are outraged?

Look, I don't like him either, but I also hate when people are outraged at stupid **** like this. We're a couple pitchforks and firebombs away from rioting because of a youtube video.
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Old 09-20-2012, 12:41 PM   #3017
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We're a couple pitchforks and firebombs away from rioting because of a youtube video.
I didn't realize i was a muslim now...


The flag, and the decision to sell it, represents and says things about Obama, his administration, and his sheep. The title, Our Stripes, is just beyond rediculous and scornfully arrogant.
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Old 09-20-2012, 12:47 PM   #3018
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Originally Posted by ThatGuy85 View Post
I really don't get all the uproar over this. Do people think he really wants to replace the nation's flag with some drawing a guy did for a political campaign?
FOCUS guys. The economy SUCKS, the economy SUCK, the economy SUCKS.
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Old 09-20-2012, 12:48 PM   #3019
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Obama's campaign advisers must be absolutely giddy this morning.

Pawlenty resigns from Romney campaign to lobby

Quote:
WASHINGTON (AP) — Former Minnesota Gov. Tim Pawlenty is resigning as a national co-chairman of Republican Mitt Romney's presidential campaign to lobby for the financial services industry.

The Financial Services Roundtable announced Thursday that Pawlenty will become its new president and chief executive officer on November 1.

Pawlenty was an early entrant in the Republican presidential campaign, but he ended his bid last year amid poor polling before the primaries began. He was often mentioned as a potential running mate for Romney and has campaigned across the country for the nominee.

The Financial Services Roundtable said in a press release that Pawlenty was stepping down from the campaign because the group is a bipartisan organization.
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Old 09-20-2012, 01:04 PM   #3020
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Quote:
Originally Posted by Your metaphors are more than mixed: they are confused. :)

1) All FOMC open market operations (aka anything designed to reduce or increase interest rates, including reducing or raising the Federal Funds Rate target) does and has for the past 40 years involved "firing up the printing press" (or firing up the spreadsheets as happens today).

2) The Federal Reserve's balance sheet does not have a direct correlation with US government sector debt or private sector debt. If anything, the past several years there has been an [I
inverse[/I] relationship with the private sector. That is, the Fed's balance sheet has increased greatly while the private sector has delevered significantly (corporations quicker than households).

3) The Federal Reserve never has to sell any debt security they buy so there will virtually never be a forced unwinding or bursting of any sort of bubble there. They can hold those securities until maturity. Any interest and profits are passed along to the US Treasury (and, thus, sucked out of the US economy) and any losses are absorbed in their black hole of a balance sheet.


Edit: That's why I think Mark is asking you to think through how what you perceive is a bubble can unwind or burst. "Unwinding" being pretty benign to me and "bursting" being much less so.
None of this negates the fact that we spend more than we take in. Even fiat currency is based on perceived value, and "printed" money--even if its an electronic chit sent from one government entity to another--causes monetary inflation.

This could give us a perfect storm debt swap bond collapse when the bubble unwinds.

You must love those Austrians Jack.
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