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Discussion: (11 comments)

  1. They call it, “theatrics” because they MANIPULATE the financial market and it’s all a SHAM.

  2. SeattleSam

    Husband: Honey, I just got our credit card statement. We owe $200,000, and we only make $60,000 per year. We’ve GOT to do something to address this or we’ll be bankrupt eventually.
    Wife: You’re absolutely right. I’m going to buy one less latte at Starbucks every week.
    Husband: Honey, that’s not good enough. We need you to do more!
    Wife: Okay, we’ll compromise on this. I’ll buy TWO fewer lattes each week.
    Husband: Alright, that’s the spirit! Now let’s go out and get that big screen TV we talked about.

    1. Jon Murphy


  3. Jon Murphy

    We are missing a huge opportunity to do something right now about entitlements, particularly Medicare and Medicaid.

    Hit the nail right on the head with that one. We have the ability to address our problems right here, right now. Why wait until we have a Greek scenario before we decide to make the tough calls?

  4. what was JP Morgan’s forecast for 2012 for the deficit & GDP in 1982?

    before i believe their projections, i’d like to see what their track record is on 30 year forecasts..

    1. absolutely correct, always look at the past records and never trust data that haven’t been collected by you.

    2. jeremajic

      The data is from the CBO actually, and, as the poster explained earlier, their track record is terrible, they also predicted 10 years ago that public debt would be a mere 7.4% of GDP today, instead, it’s ten times that. So, yes, the forecast is absurdly unreliable.

  5. Todd Mason

    Wife: I’m back from work and here you are watching television again.
    Husband: Hey, I’d like to find a job, but we have to live within our means and my car is out of gas.
    Wife: But you have a First Bank of China credit card in your pocket that charges zero interest.
    Husband: Silly, you shouldn’t worry yourself about economics. Any day now a job creator is going to knock on our door. Now I hope you haven’t spent any money today….

  6. Of course, our politicians think it’s sufficient to plan only far enough ahead that voters will have forgotten the cause by the time the effect is apparent–i.e., only two or three years ahead.

  7. Thomas Sullivan

    The socialist vote-buying machine can be stopped, but only by a constitutional amendment to limit the federal government to some huge number, like 18% of GDP. There is zero chance of that happening. We are rapidly becoming like Europe – socialist, bankrupt, and degenerate.

  8. Tom Phillips

    This will be the greatest wealth destroying and wealth creating opportunity in at least the last 300 years.

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