< Earlier Kibitzing · PAGE 3147 OF 5991 ·
|May-12-12|| ||johnlspouge: < <PinnedPiece> wrote: <JLS> Doesn't look very encouraging to me.... 20 yrs..... >|
She did <not> pump the source of her anxiety full of bullets and received the mandatory 20 years. Thanks for emphasizing my point.
|May-12-12|| ||patzer2: <diceman> I seem to recall a fox report that said when Obama meets with Hollande, he is going to ask him to delay or cut back on that proposed income tax hike of 75% on the "rich,"
and calling a halt to austerity programs.
Will be interesting to see if he actually does this, and, if so, how he pulls it off. Especially since Obama has been promising essentially the same thing, just to a lesser degree (e.g. federal tax on dividends for the rich raised from 15% to 47.5% under Obama, as opposed to a 75% tax on all income proposed by Hollande).
Like Obama, Hollande has promised his people that they can spend more money and get more public goodies only by taxing the rich.
If Hollande immediately implements his plans, he'll tank the French economy and would likely force an end to the Euro. If it starts happening before the November elections it would likely affect our economy and could further turn the tide in Romney's favor.
|May-12-12|| ||diceman: <PinnedPiece:
I've often wondered: if Trayvon Martin >
I read that for every 1C degree rise in temperature to expect a 30-60 ft. rise in sea level. By the end of the 2020s we could lose every coastal city.>
Global climate devastation????
Can we get a real story?
Dick Cheney’s financial records from a decade ago.
The fate of the republic hangs in the balance.
|May-12-12|| ||diceman: <patzer2: <diceman>
Like Obama, Hollande has promised his people that they can spend more money and get more public goodies only by taxing the rich.>|
I hope they’re not counting of Facebook folks?
The problem with the rich is, they’re rich.
Its so much easier when you “own” ghetto folk.
(except when you need money)
(HeMateMe <“own”> is like a slave owner, not the Oprah Winfery Network)
|May-12-12|| ||King Death: < patzer2: ...However, my larger point is a warning to middle class voters not to trust the Democratic Party's claims that all of Obama's planned spending can be paid for by "taxing the rich." When being told only the "rich" will pay higher taxes, they better watch out for their own wallets.>|
They sure better, that's a canard. The rich aren't the ones that get stuck with the check.
|May-12-12|| ||diceman: <Around world, Obama's presidency a disappointment> |
Get in line, how do ya think we feel?
|May-12-12|| ||diceman: < King Death: This is miserable, using a kid's death this way! Paper targets of Trayvon Martin?>|
Yeah, deaths should only be used for political gain.
Al Sharpton “owned” the debate.
(and when I say owned, I do mean owned)
|May-12-12|| ||kb2ct: |
Austerity certainly does not produce prosperity.
Not a particularly good time to weaken financial reforms. The Volker Rule would have prevented this sort of proprietary trading.
Do what you want with your own money, but severely restrict what can be done with other people's money.
|May-12-12|| ||kb2ct: |
More on this week's financial fiasco.
J.P.Morgan-Chase still hasn't figured out CDO's
|May-12-12|| ||Kanatahodets: <twinlark: <Kanatahodets>
Many people in the West scoff the Chinese one-party system, not realising that the much vaunted multi-party system of much of the West, including the US, is a three-card trick for fooling the punters into believing they have a meaningful choice. It seems that for some of the discussants on this page, the illusion of choice and freedom is no different from the real thing.|
Hence the facile arrogance of many in the West (some of whom manifest on this page) in judging China and its system of governance.>
|May-12-12|| ||Kanatahodets: I wonder how much the american gvt will bail-out JPMorgan after recent losses?|
|May-12-12|| ||Kanatahodets: Will France still continue with austerity measures or not? We live in a very interesting time when socialists suddenly came to power and discover that there's no alternative to austerity measures, I guess. What Krigman said that it's about time for socialists come to power? I am sure he is wrong... it would be better for them stay away and critisize right wing for hartdships. Now they have to do the same:) I bet ther are not happy with that!|
|May-12-12|| ||Shams: <FSR><Sam Harris destroys Christianity> |
If you are put off by the eleven-minute length of the video the transcript may be digested here, in a much briefer span of time:
The section <FSR> linked to is Sam Harris' First Rebuttal.
|May-12-12|| ||diceman: <kb2ct:
Austerity certainly does not produce prosperity.>
…but it’s a darn good rhyme.
You could call it fine.
|May-12-12|| ||diceman: <twinlark:
It seems that for some of the discussants on this page, the illusion of choice and freedom is no different from the real thing>
We have several brilliant minds here who have “spotted” this.
I’m guessing they read a book or something?
(maybe more than one)
I’m talking mainly pages, not indexes, covers, and tables of contents and stuff.
|May-12-12|| ||diceman: <Kanatahodets: I wonder how much the american gvt will bail-out JPMorgan after recent losses?>|
Are you kidding?
Obama always puts the taxpayer first.
He went thru McDonalds drive-thru last week,
he got the value meal.
That just the type fella he is.
|May-12-12|| ||OhioChessFan: <FSR: Sam Harris destroys Christianity> |
Keep hiding behind those links and you won't have to defend an affirmation.
|May-12-12|| ||patzer2: <kb2ct:> <patzer2:> <Austerity certainly does not produce prosperity.> Too much austerity, too soon can be bad for an economy. However, that's not the French or the US problem, as massive amounts of accumulated debt are threatening to worsen those economies.|
The French, if they are naive enough to adopt Hollande's economic proposals will soon find out that big tax hikes on wealth creators and unrestrained deficit spending is not the path to prosperity.
Read Rogoff and Reinhart's 2009 Book "This Time is Different: 800 Years of Financial Folly" as well as their research and warning about letting debt exceed 90% of GDP at http://www.bloomberg.com/news/2011-... in an article entitled "Too Much Debt Means the Economy Can't Grow."
This time is not different, and massive deficit spending, with little regard to the debt to GDP ratio, combined with economy killing tax hikes won't leave the French or Americans better off.
At http://news.yahoo.com/imf-warns-eur... is an AP article with a warning from the IMF that European nations need to continue to reduce debt, and austerity measures are a vital part of that effort. France can throw caution to the wind and wallow with the PIIGS if it likes, but the consequences of massive government debt and incentive killing tax hikes will crush their economy.
The IMF and the ECCU have set appropriate targets for accumulated public debt to GDP at not over 60%. At 86% (actually over 142% for France if you count external, private plus public, debt owed to foreigners) for France and 112% for the USA both countries have far exceeded the 60% level of prudent fiscal management of their respective economies.
No responsible economist is calling for running surpluses immediately, but throwing caution to the wind with unrestrained spending and incentive crushing tax hikes is certainly not the answer to either nation's economic woes.
|May-12-12|| ||patzer2: <OCF> Let's look at <FSR>'s affirmation "Sam Harris destroys Christianity." |
Major Premise: If Sam Harris "destroys" Christianity, then Christianity no longer exists.
Minor Premise: Christianity still exists (you still believe, I still believe, the Church down the road is still standing).
Conclusion: (Modus Tollens) Sam Harris has not destroyed Christianity. Therefore FSR's affirmation (if taken literally) is false.
P.S.: Of couse, most likely, what <FSR> probably means by "destroys" is not literal. Instead, I suggest he means that Sam Harris has provided convincing arguments (to FSR's mind) to refute the claims of Christianity. However, as you note, he's hiding behind a link instead of advocating and defending those arguments himself.
|May-12-12|| ||valiant: <(actually over 142% for France if you count external, private plus public, debt owed to foreigners)>|
'External debt' is mostly about what kind of banking sector (size) a country has ...
•UK external debt is 400% of GDP
•Ireland has external debt of over 1100% of GDP.
•The highest is Luxembourg whose external debt is 3,443% of GDP.
This reflects the fact that Luxembourg is a highly attractive place for banking. It doesn’t reflect the fact Luxembourg is on the verge of collapse. Ireland on the other hand reflects the losses of their own banks. http://www.economicshelp.org/blog/2...
|May-12-12|| ||kb2ct: |
Austerity is just another word for bailout.
Why put the onus on the poor when the wealthy can better afford austerity?? It after all was their mistakes.
|May-12-12|| ||Shams: <Keep hiding behind those links and you won't have to defend an affirmation.> |
Pick an affirmation that Harris offers in his talk and challenge it. <FSR> will take the Black pieces.
|May-12-12|| ||cormier: nite nite ...|
|May-12-12|| ||King Death: <Shams> But will <FSR> give odds of pawn and move? I'll lay $650 that he does!|
|May-12-12|| ||patzer2: <valiant> Pretty good link there on external debt. However, you might also be interested in the 2010 paper by the European Central Bank on "External Debt Measures of the Euro Area" at http://www.bis.org/ifc/events/5ifcc....|
This paper also observes that the high levels of external debt in Luxembourg are related to the banking and finance sector, as is the case to a lesser extent in the Netherlands and Belgium.
However, in the case of France, the increase in gross external debt to GDP ratio from 127.5% in 2003 to 191.2% in 2009 was not as a result of their Banking and Finance sectors becoming suddenly popular.
The most imminent French debt problem is a bloated, over spending public sector (spending 56% of GDP) without an economy producing sufficient wealth to support it (sound familiar US citizens), resulting in a debt to GDP level now over the danger point of 90% and rising.
As the Economist at http://www.economist.com/node/21551... a Mar 31, 2012 article entitled "The French Elections: an inconvenient truth" wrote:
<The awkward truth is that France, the second-biggest economy in the euro zone after Germany, faces a public-finance squeeze. French public spending now accounts for 56% of GDP (see chart 1), compared with an OECD average of 43.3%: higher even than in Sweden. For years France has offered its people a Swedish-style social model of services, benefits and protection, but has failed to create enough wealth to pay for it.
Today France continues to behave as if it enjoyed Sweden’s or Germany’s public finances, when in truth they are closer to those of Spain.>
P.S.: In short the IMF, the ECB, the EU and the credit rating agencies have been warning France they need to practice more austerity and fiscal discipline if they expect to restore their credit rating and strengthen their economy. Their excessively high government spending and debt levels are significant problems, and spending like there was no tomorrow and taxing millionaires at 75% until they take their wealth and flee to other nations isn't going to fix those problems.
< Earlier Kibitzing · PAGE 3147 OF 5991 ·