My guess is that Greenspan is not relying on Social Security for HIS retirement.

uncleb, if deficits are not a good thing, why did a democrat controlled House and Senate run them for so many decades?

Wednesday, May 05, 2004, 4:41:00 PM EST

Who Ya Gonna Blame?

Author: Jim Sinclair

The Financial Times yesterday ran an article that has received significant attention and might well influence the thinking of the unwary. In the spirit of Rumor Control then please consider the following:



“Don’t Blame the Deficits for America’s Rate Hikes

The US Federal Reserve is expected to hint more strongly at the interest rate rises in its post-meeting statement today. With the growing likelihood of higher US interest rates ahead of November election, one of the surest calls in economics is that the twin deficits in budget and trade will be blamed.

Before that happens, it is worth taking a reality check. The much needed increase in interest rates when it comes will have little to do with deficits.

The primary factors will be the strong economy, job growth, the weaker dollar and rising inflation.”

Jim Sinclair’s Commentary:

Where in the world do you think the “strong economy” came from? Where in world do you think the modest job growth has come from? What do you think caused the lower dollar? What do you think has given rise to inflation? The triple deficits of US Budget, Current Account and Trade brought on by poor management are the cause of the economic recovery.

The US is on a war footing while implementing major tax reductions and monetary easing of historical proportions. The cost of this present economic situation is clearly on the backs of future generations. This article places the cart in front of the horse in a world class fashion.

This is the type of thinking that would sell the soul of a nation for a strong equity market and strong business conditions while Americans and their coalition allies pay the price on the battlefield. It will also produce long term inflation and decimate the dollar beyond recognition. This is truly the creed of Daddy Warbucks and is a formula that has led the USA to its present decline while being in a terminal state of denial as it wages war everywhere.

Very nice Thom and I agree, the economy is in the midst of a strong rebound. Leaving the neo-libs to do nothing but scratch their “heads” and whine… All they can do is hope that something, anything bad will happen so their man Lurch can be elected. My question remains unanswered;

"uncleb, if deficits are not a good thing, why did a democrat controlled House and Senate run them for so many decades?"

Additionally, is it even remotely possible that the current deficit may be a legacy of the Clinton recession? It started before W took office (fact dudes, deal with it). And maybe, just maybe Muslim terrorists flying in to buildings put a ding in the deficit? And perhaps 2 wars? Hello? McFly? Are you listening? Or are you hiding your head vis-à-vis an ostrich?

I’m thinking it’s probably the later, and not the former for our less conservative BOTL.

Robby - I think you need to take the blinders off and not read any politics into this and re-read the above article more carefully, paying close attention to Jim Sinclair's commentary. The author is showing you how badly our economy is being run and what lengths these fools will go to for a short term gain.

Ahhh, well then, I ask the same question of you sir, "if deficits are not a good thing, why did a democrat controlled House and Senate run them for so many decades?"

Additionally, any credit card debt? I do.

Robby,

I did not intend to depict this, nor do I, as a Dem vs Rep issue. I am saying straight out that deficits are not good for the economy whether is it Dem run or Rep run.

Question for you- Do you think deficits are good for the economy, whether they are Dem run or Rep run?

BTW- My wife and I NEVER carry a credit card debt. We refuse to pay rediculous interest rates. We pay off our balance each month. Just good economic sense.

B.

That is impossible for Robby.

Yep Robby,
Your spin will not work on this issue. Re-read the article.
Later
Dave (A.K.A. Homebrew)
P.S. I wish McCain, would have run in the republican primary. It would have given me a reasonable choice for president. Now I have to hold my nose to vote.

It's NOT spin, it's introspection! Many who will admittedly vote for Kerry and try to foist the bogus lame reason that Bush has somehow damaged the economy with the Clinton/Gore recession, will use issues like this, "but look at the deeeeffffffiiicccciiittt (whining)" But when confronted with the question, what about the deficits over the last 50 years with Democrat control of congress? You'll be greeted with blank stares... And more whining. The bottom line is, we have to run a deficit because of all the reasons mentioned above, additionally the bottomer line is that the economy is in a full blown recovery and Lerch even ADMITTED IT! The final bottom line is that revenues are increasing as a result of the stimulus applied to the economy in the form of (yes) "tax cuts". And the last bottom line, in closing, you can't tax yourself in to prosperity, you have to cut spending. period.

Now go vote for the dems who invented deficits and don’t whine about a justifiable one being run by the current republican administration without commenting on ways to reduce it, i.e., cutting spending, not raising taxes.

Robby,
That is one-track thinking.


Many people could go on all day, talking about how the current administrations economic policy will negatively affect my children, my grandchildren, and future generations.

This deficit that we are in would have happened even if Clinton were still in office:

1. 9/11
2. Economy was on downswing when GWB took over
3. Cost of war and Homeland Defense, would cause deficit without any other factors!

It really is a partisan issue!

Charlie

Leave to Robby to politicize everything possible in the most creative neo-con artistic ways. Economics is not the issue (in his mind at least)... Its simply that his place to be Cbids foremost Neo-con attack dog.. Probably works for Cheney in his spare time.

This is probably common knowledge.

(satire) Hey Robby?? The Sky is Blue!!!!!
(must be those damn Democrats fault!! Those Blue states suck..... Lets get the smokestacks going and make the skies red)

Typical... I present valid points, and they're met with a bunch of nanny nanny boo boo... "predictable"

Robby,
I don't consider the deficit issue to really be a partisan issue, because both parties are guilty. The Republicans made it a huge issue, back during the Newt Gingrich days, and now are ignoring the very arguements they used then. The Democrats are guilty of deficit spending, but that is what helped the Republicans gain their majority in the house and senete. The hypocracy, is now that they, Republicans, are running the show, they have ignored their own issue, and in fact have embraced deficit spending, except for a few standouts, like McCain. I have problems, as most conservatives do, with deficit spending. But the Republicans, have left us, true conservatives, out in the cold. It just goes to show, that the two major parties, have lost touch with reality. They are both against deficit spending, when they are not the ones doing the spending. That is why I am no longer a republican, but a Libertarian. I am not the only exrepublican, who has left the party, due to the hypocracy, conserning deficit spending, and I will not be voting for Bush, this time around. Bush did win the last election, through the electoral college, but not the popular vote, so you can not call it soundly defeating Gore. I voted for Bush against Gore, but will hold my nose and vote for Kerry. If there are enough of us that do so, Bush will lose the election, and there will be a balence in our government again.
Later
Dave (A.K.A. Homebrew)

Dave, I agree with you on everything except the Kerry vote.

Homebrew's post is both excellent and a prime example why our media has adopted the use of the term "NeoCon" There are huge numbers of disillusioned, thinking reasonable traditional conservatives whose values are their own and the product of reasonable thinking. Homebrew is not alone. Then there are the neo-cons who rationalize and change their values on a dime to suit the immediate propaganda needs of the current Bush administration. Their only concern themselves with smearing and attacking their opponents to maintain power.

I'm saying there are traditional conservatives who can help unite work together and can find common ground with liberals. Then there are neo-cons whose agenda is completely divisive and dangerous.

Frankly DB, your response is the antithetical crap I expect.
U sir are NOT a libertarian, not conservative, U are a flaming
Cold-hearted died in the wool, left wing socialist and are voting
Kerry for wholly different reasons that Homebrew.

You don’t have anything in common with disheartened
One time Republicans. I indeed understand how some feel
Until the current admin stops acting like Republcrates…

Don’t try to group yourself loosely with
Birds who are clearly NOT of a feather.