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PeakOil is You

The cuts are a'coming

Discussions about the economic and financial ramifications of PEAK OIL

Re: The cuts are a'coming

Postby careinke » Thu 18 Aug 2011, 19:23:47

$this->bbcode_second_pass_quote('Pops', '')$this->bbcode_second_pass_quote('Keith_McClary', 'W')here will these blue & red lines go in the next few years?

They won't come even close without increasing taxes, that's a given.



So which taxes would you like to raise, and how much of an impact will it make to the debt?
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Re: The cuts are a'coming

Postby vision-master » Thu 18 Aug 2011, 20:16:16

Our understanding of what we consider 'middle class' will substantially erode by spring of 2012.
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Re: The cuts are a'coming

Postby Cog » Thu 18 Aug 2011, 20:16:45

Yes by all means raise taxes on the brink of another recession. Another brilliant idea from the left.
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Re: The cuts are a'coming

Postby americandream » Thu 18 Aug 2011, 20:16:59

$this->bbcode_second_pass_quote('nobodypanic', 'i')t can't work that way. if europe cuts back, then aggregate demand falls, and capital will be unable to outpace the declining rate of profit. capital accumulation will then become unprofitable and the system will go into crisis.

capitalism is the worse system you can have going into peak-oil. note, i am not suggesting we have reached that hard physical limit yet.


An excellent summation of what awaits us...brief, and succinct. An increasing awareness of capitalism's inherent failure mechanisms will with time, get us really examining the sorts of remedies that can work on this planet. Social economy should be objective...emotional issues such as inequity, poverty, wars, race, immigration, welfare, taxes, spending, crime, injustice, resourcing and such like...all symptoms rather than causes....divert such debates and give the conservatives ammunition to further derail this very complex and inter-generational issue. The symptoms are not necessarily trivial but should lead us into the rabbit warren of systemic weaknesses, serving to highlight why it is absolutely guaranteed that oil for example must run out and why renewable energy's EROEI cannot EVER coincide with capitalism's net annual GDP dictates. However, they don't and we often end up arguing over the relateds rather than what lies at the core of those relateds.
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Re: The cuts are a'coming

Postby vision-master » Thu 18 Aug 2011, 20:26:40

$this->bbcode_second_pass_quote('Cog', 'Y')es by all means raise taxes on the brink of another recession. Another brilliant idea from the left.


Implosion from within coming soon. 8O
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Re: The cuts are a'coming

Postby Satori » Thu 18 Aug 2011, 20:48:15

$this->bbcode_second_pass_quote('Cog', 'Y')es by all means raise taxes on the brink of another recession. Another brilliant idea from the left.



I think the idea was actually from Warren Buffett :-D
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Re: The cuts are a'coming

Postby Expatriot » Thu 18 Aug 2011, 20:50:04

NM
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Re: The cuts are a'coming

Postby americandream » Thu 18 Aug 2011, 20:59:57

$this->bbcode_second_pass_quote('Satori', '')$this->bbcode_second_pass_quote('Cog', 'Y')es by all means raise taxes on the brink of another recession. Another brilliant idea from the left.



I think the idea was actually from Warren Buffett :-D


:lol: Choice!
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Re: The cuts are a'coming

Postby Cog » Thu 18 Aug 2011, 21:54:32

Since the left believes deficits don't matter aka Pops, then we should just borrow and spend some additional trillions to give everyone a job. No reason to raise taxes when we can simply wish money into exisistence.

By the way anyone who supports increased taxes is a leftist regardless of his wealth. Buffet is more than welcome to send a check to the Treasury if he feels undertaxed.
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Re: The cuts are a'coming

Postby Satori » Thu 18 Aug 2011, 21:57:03

ummm
I believe it was Dick Cheney who said "deficits DON'T matter" :P
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Re: The cuts are a'coming

Postby Cog » Thu 18 Aug 2011, 21:59:57

$this->bbcode_second_pass_quote('Satori', 'u')mmm
I believe it was Dick Cheney who said "deficits DON'T matter" :P


No one said idiotic thinking was limited to the left.

By the way Buffet was an early supporter of Obama back in 2008. Something you liberals failed to mention. That puts him solidly in the left camp as far as I'm concerned.
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Re: The cuts are a'coming

Postby Satori » Thu 18 Aug 2011, 22:02:48

yeah Cog

YOU get to decide who is left and who is right

do ya use one of those sorting hats like in Harry Potter :lol: :lol: :lol:
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Re: The cuts are a'coming

Postby americandream » Thu 18 Aug 2011, 22:03:24

$this->bbcode_second_pass_quote('Cog', '')$this->bbcode_second_pass_quote('Satori', 'u')mmm
I believe it was Dick Cheney who said "deficits DON'T matter" :P


No one said idiotic thinking was limited to the left.

By the way Buffet was an early supporter of Obama back in 2008. Something you liberals failed to mention. That puts him solidly in the left camp as far as I'm concerned.


Buffet would buy and sell you and I and probably everyone on this forum many times over and probably profit from the deal. He is as leftist as the Queen. He is smart however which is why he is Buffet, and you, a cog.

Real capitalists are not pedantic. After all, being influentially rich calls for a certain understanding of human nature.
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Re: The cuts are a'coming

Postby Cog » Thu 18 Aug 2011, 23:03:15

Since the cry of the mooch class, with some support from their rich benefactors like Buffet and Soros, continue to echo the call for taxing the rich, I have to ask myself why. It can't be to balance the budget since deficits don't matter as Obama has proved quite clearly. It must be the classic redistribution of wealth scheme favored by the Marxists and their ilk.

I thought we had dispensed with such foolish thinking in the 2010 elections. But I suppose it will take a Texan in 2012 to bury such nonsense where it belongs. In the tomb of bad ideas.

I anxiously await Obama's secret plan to create jobs. He is rapidly running out of time to save the economy before he becomes part of it. :-D
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Re: The cuts are a'coming

Postby Satori » Thu 18 Aug 2011, 23:16:45

I anxiously await Rick Perry's plan to create jobs

hope he doesn't try and recreate his "Texas Miracle"

the country couldn't take it
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Re: The cuts are a'coming

Postby Cog » Thu 18 Aug 2011, 23:34:14

Are you referring to Texas creating 40% of the jobs this country has gained since Obama became president? Is that the miracle of which you speak? It could be a worse resume compared the one established by the Teleprompter-In-Chief.
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Re: The cuts are a'coming

Postby americandream » Thu 18 Aug 2011, 23:39:13

$this->bbcode_second_pass_quote('Cog', 'S')ince the cry of the mooch class, with some support from their rich benefactors like Buffet and Soros, continue to echo the call for taxing the rich, I have to ask myself why. It can't be to balance the budget since deficits don't matter as Obama has proved quite clearly. It must be the classic redistribution of wealth scheme favored by the Marxists and their ilk.

I thought we had dispensed with such foolish thinking in the 2010 elections. But I suppose it will take a Texan in 2012 to bury such nonsense where it belongs. In the tomb of bad ideas.

I anxiously await Obama's secret plan to create jobs. He is rapidly running out of time to save the economy before he becomes part of it. :-D


Envy will get you nowhere, nor will stupidity. Buffet does what is best for Buffet....as does your mentor, Rupert Murdoch, owner of Fox and the instigator behind a certain right wing tax cutting party and who incidentally, alternately supports the party that works best for him. And quite rightly so, smart man that he is. Lumpenproletariat such as yourself take these messages a little too seriously whereas your masters do not.
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Re: The cuts are a'coming

Postby joewp » Fri 19 Aug 2011, 00:05:09

$this->bbcode_second_pass_quote('Cog', 'S')ince the left believes deficits don't matter aka Pops, then we should just borrow and spend some additional trillions to give everyone a job. No reason to raise taxes when we can simply wish money into exisistence.


Cog, you're under an misconception. We don't "wish" money into existence, we borrow it into existence. That's why the federal government has to keep going into more and more debt, because if it didn't, the money supply would decrease drastically (by a factor of about $10 for each $1 of government debt).

That's why all the hoopla from the right and left about decreasing the deficit is just pablum for the likes of you. We have to increase the deficit or the money supply will shrink and we'll be in a deflationary depression, the Fed's worst nightmare.
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Re: The cuts are a'coming

Postby prajeshbhat » Fri 19 Aug 2011, 00:12:18

$this->bbcode_second_pass_quote('Cog', 'I') thought we had dispensed with such foolish thinking in the 2010 elections. But I suppose it will take a Texan in 2012 to bury such nonsense where it belongs. In the tomb of bad ideas.


Where was George W Bush from again?
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Re: The cuts are a'coming

Postby prajeshbhat » Fri 19 Aug 2011, 00:19:41

$this->bbcode_second_pass_quote('joewp', 'C')og, you're under an misconception. We don't "wish" money into existence, we borrow it into existence. That's why the federal government has to keep going into more and more debt, because if it didn't, the money supply would decrease drastically (by a factor of about $10 for each $1 of government debt).


There is a common misconception that government creates money first which is deposited in banks and then multiplied 10 times through fractional reserve by the private sector. This multiplier model has been refuted by economist Steve Keen.

http://www.debtdeflation.com/blogs/2009/01/31/therovingcavaliersofcredit/

In the real world, its always the private sector that creates new money first through debt. The government deficits follow later to cover the screw ups of the private sector.
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