aceventura3

How can one tell when a person(S) is talking sh*t? You call them on it. In context, the Tea Party people have not really said "no" to anything. Obama should have put a simple bill on the table to have the debt limit raised, and make everyone vote. If they vote "no" then it is easy to use that vote along with other things as leverage. If they vote "yes", Obama may have gotten what he wanted, assuming that is what he wanted.

That is just one of an infinite number of strategies Obama could have used to gain leverage.

In one of Obama's press conferences he used the word "Armageddon" to describe August 3, 2011. Think about that! On the most obvious level you have put your trust and faith in a leader who does not have a functional plan B.

Outside of that, let's assume I am the Tea Party and you are Obama.

You say, 8/3/11 is the drop dead date.
I say, I don't believe you.
Then what....?
Why wouldn't I take a hardline and wait??? It is you who thinks 8/3/11 is the end of the world not me. I think the sun will shine and the birds will sing, old people will get paid, China will get paid, and no one will die because the FDA has to "make some arrangements".

It is Obama who set the stage for where we are.

---------- Post added at 03:31 PM ---------- Previous post was at 03:26 PM ----------

You left one out and actually it is number one.

Tea Party Rule #1: Make sure Obama is a one term President. It is Obama who is at the root of the biggest proportional increase in government and government spending in the history of this nation.

---------- Post added at 04:08 PM ---------- Previous post was at 03:31 PM ----------

Political theater. Republican have an agenda and the threat of default plays into their agenda. Democrats have an agenda and the threat of default plays into their agenda. Media has an agenda and the threat of default plays into their agenda.

When law is in conflict, break the law is inevitable. The role of our third branch of government is as important as the other two.

I doubt any member of Congress want to abdicate more power to the Executive branch of government. I think that is why they are working around the clock to meet this made up deadline.

Winning trumps class.

No they are talking about depreciating private jets over 7 years rather than 5. What that means is that the guy/corp. that owns a jet (rather than a cat) will face responding to dumb tax policy (again my view is taxes should be related to actual costs to society). For example all other things being equal the net result is that the government collects taxes sooner there will not be a net increase in "revenues". Then if the number of jets being put into service goes down because people/corp hold on to their jets longer (perhaps 2 years longer), the net revenues may actually go down.

The point of using cats in the analogy had nothing to do with cats. You could substitute any number of legitimate words for "cat" and meaning illustrated stays the same. I think you see that, yet you act like you don't...Why?

They might as well be talking about purple glitter paint, perhaps they are. In either case nothing has happened. I repeat, Obama and Democrats have not put anything specific up for a vote. Until they do, I think I will make the assumption that they are in fact talking about purple glitter paint.

Have you purchased a new car? At least in the US, there is this game that they play. At one point you make an offer, they make a counter, you make another offer, then the guy goes back to talk to is "sales manager" because you are really busting his b@lls on this...he goes back (takes about 15 minutes, because he has to really fight for you to get this deal) but he actually goes into the back office and he and his "sales manager" spend about a minute approving the deal and about 14 talking about "purple glitter paint".

I am referring to Obama's economic view of "taxing the rich" and eliminating loop holes like depreciating a jet over 5 years rather than 7. On the jet issue, the irony is that a jet may have a useful life measured in decades, and anything less than the jets actual depreciation is a subsidy. the subsidy doesn't actually go away, does it? Obama when he talks about this stuff is laughable, he might well be talking about cats because he comes across as clueless.

No, close the loopholes, but do it for real. We need to totally re-write our tax code. Thinking it can be done in a few weeks under the threat of 'Armageddon" is another joke. Perhaps we elected a comedian rather than a President.

I think we should ask better questions. Only then will we get the truth from anyone or any party.

For example, has anyone ever asked Obama if there is an alternative to simply not paying the nation's obligations starting on 8/2/11? There are alternatives. The key is asking the right questions.

I don't understand your point. If I say I don't support something, how do I compromise? I can my position be perceived as anything other than "strong-arming" if you disagree?

I say not tax increases. In context I primarily say that because I don't believe the other side will actually cut and control spending. I say cut and control spending and after you demonstrate that I can trust you on the issue the come back to me and I may be more open to tax increases.

---------- Post added at 04:13 PM ---------- Previous post was at 04:08 PM ----------

What is the yeild on ten year treasuries this morning? Less than 3%? What was it a year ago? Less than 3%? What will it be next week? Less than 3%? What will it be 8/3/12? I am betting right around 3%, but no more than 5% - and any change won't have anything to do with what they do in Washington between now an 8/2/11 because at the end of the day they will have done nothing of any real significance.

---------- Post added at 04:18 PM ---------- Previous post was at 04:13 PM ----------

Thanks for the compliment. I will gladly represent the Tea Party point of view on TFP.

At this point I say, do nothing until after 8/2/11. Let's see what happens. At the very least the Fed could sell bonds on the open market (opposite of QE1 and QE2) and return the cash to the Treasury or just move the cash to member banks on behalf of the US government so they don't bounce any checks.

__________________
"Democracy is two wolves and a sheep voting on lunch."
"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."