U.S. Economy Flashes Signs It’s Downhill From Here

Yes. Rand Paul made a good speech about the GOP spending bill, which was 4000 pages long and they had only few hours to read it. Spending bills originate from the House, but it does not mean the Congress reps actually write the text. The truth is that they don't even know what the heck they are voting for, or against.

 

Yes, you support the orthodoxy (which also creates the dominance of money in the political system).

Bit ironic that you moan about the voters who have bucked the gravy-train!

 

You don't seem to be old enough to remember life without ALEC.

 

Isn't that what the fed intended with all it's interest rate hikes?

 

"Just fine" is a term losers use.

 

Well, now they are holding off, because of the warning signs across the board. Housing is about the collapse, wall street is taking a beating, hiring is slowing etc.

 

Now they are holding off because they already were successful in their mission to slow economic growth.

 

It was already slowing when they hiked the rates in the first place. Much like last time, they failed to see the writing on the wall. The housing has been turning sour for some time now, and they should have known the trade war was going to damage the economy.

 

I imagine the big wigs in the Beltway are starting to get concerned over this.

 

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"It pains me to admit it, but for once I agree with President Trump. The Federal Reserve’s decision to raise interest rates again yesterday was a mistake.

The justification the FOMC gives for the interest rate rise is as follows:

Information received since the Federal Open Market Committee met in August indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Household spending and business fixed investment have grown strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Indicators of longer-term inflation expectations are little changed, on balance."


https://www.forbes.com/sites/france...nterest-rate-rise-was-a-mistake/#6ca8b78f2dc8

 

Actually, all federal agencies submit their budget requests to the Office of Management and Budget, which is OMB, and OMB manages the budget process for the president. The OMB and president review the budget requests and send their comments back to all federal agencies. All federal agencies finalize their budget requests and resubmit to the OMB. OMB then prepares the final budget and sends it to the president. There is a deadline for the president to submit the budget to Congress. Congress prepares budget resolutions, committees in House and Senate hold hearings to verify the need for funds, the Senate and House work out their differences, and the final resolution must be passed by both House and Senate. There are appropriations bills, more hearings and committee review, final appropriations bills are voted then goes to president for signature, who has 10 days to accept or veto or if nothing the bill is considered approved. Or something very similar to this...meaning lots of people and agencies are involved, with hearings and committees, and the OMB, and ALL of Congress, and ALL agencies, etc. etc. etc.

 

I'll repeat a little slower; I do not support anything radical...

 

It would be great if I was not so old but it's reality...

 

Here is another one of his speeches after GOP asked for 20% spending hike:

 

Every line items of a budget does not need to be read. For example, if budget increases are well within annual inflation, with all other things considered equal, it's probably okay to approve without reading.

Going back to my statement that Congress and presidents do not possess the knowledge in many cases to write legislation without help from lobbyists or think-tanks, or outsiders, within this same stupidity few of them are qualified to question detailed budgets...

 

No human being could have read the bill given the fact they only had few hours and hundreds of pages. If it increases spending by 20% and debt by $1.5 Trillion, then any fiscal conservative would vote against it. However, Republicans voted for it.

That's what I said. If they are not up to the job, maybe they should not be there.

 

A little slower? You're in full stop. I'd consider hitting reverse. Your argument is essentially 'I don't like the voters who are successfully fighting the influence of money, but I blame the voters for not fighting the influence of money'. Sounds like something that might be funded by the Koch brothers?

 

I agree with you however politics today, and our federal government, are operating in mysterious ways that have almost no rationale. Voters place them in office and keep them in office so I guess we get what we deserve...as painful as it might be. Trump told reporters this week he didn't care about debt because he would be out of office by the time the **** hits the fan...and NO uproar!!

 

I don't personally like or dislike voters. I'm merely saying never underestimate the stupidity of voters. Read my auto signature which says 'our problems and the solutions can be found by looking in our mirrors'. Although this is 100% true, voters cannot admit they are part of the problem...they simply feel they are victims. BTW; David Koch funds NOVA on PBS which I find interesting since he is a conservative...

 

I don't find billionaires funding things interesting. Its a mere symptom of the disease.

 

You mean like the Bill and Melinda Gates foundation funding billion$ around the world?

 

You're going to celebrate the return of economic rent now? Perhaps first question why it exists....

 

Yes, Exactly like that, it is a JOKE. First, no man should have ever been able to attain that much money. Only here, and only after the Jewish Led Tax cuts of the 1980s. He waited until he had so much he actually didn't know what to do with it. So, pat me on the back and call me a great person, I will give some away. He should have been taxed hard, that money then goes to states, then county's and cities for their workers, roads and projects. Without that money, the locals tax the hell out of the working class who no longer have money to tax.
Don't you get it ? 50,000 billionaires take their money and hold it, the local 30,000 people town in Penn., Ohio, Arkansas, Texas gets none of the money they made off of you when you bought on Amazon, a computer, a TV, a Car... Thus, nothing gets better in 90% of the country.
And yet your glad that the Gates took your hard earned money and sent it to Zimbabwe.

 

This is very true. It is all out of hand. Only people left preaching trickle down, Trumpism, Cheering tax cuts, and waving the Flag are the very rich who has massively benefited or the very poor who are gullible and just dumb. There is some inbetween and I am surrounded by them here in Florida. All the Republicandixies.. Their personalities of racism, hate for Northerners, and really CLEAN lifestyle pushes them into a corner. Cant like Dems, many are black, Trump will do it, he said so.

We are totally screwed, most in this country didn't see it coming. Been on it for years now, it is easy to see. I have an uncle that is 80 now, but made huge money (back then) for DuPonts. His kids, grandchildren, and great, have eaten though it all. My cousins were smart, but blue collar, they wanted what we had when we were young. It just isnt there and wont be back, if at all, for another 20 years and the changes back to 1070, 80 tax base and politics of little. It will take a REAL revolution to turn it around. By then, the dollar will be MUK !

 

You can level with an OKY DOKY.. They mean well, and in their small little world, if you work hard and just like them, you can have a house, a car, and happy kids. What more could one want.