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Tea Party Wins

Are these the same large majorities who swept 87 TEA Party movement candidates into the Congress in the Mid Term elections, and captured many State legislatures and Governor's mansions on the basis of election promises of spending cuts?
 
Thucydides said:
Are these the same large majorities who swept 87 TEA Party movement candidates into the Congress in the Mid Term elections, and captured many State legislatures and Governor's mansions on the basis of election promises of spending cuts?

Possibly, disenchanted with their performance so far.  I have a feeling the Tea Party's party is about to come to a jarring halt, but I guess we'll see.
 
Redeye said:
Possibly, disenchanted with their performance so far.  I have a feeling the Tea Party's party is about to come to a jarring halt, but I guess we'll see.


I wouldn't be too sure. My perception is that the Tea Party won this round, and I suspect that many, many Americans agree. This is a tiny, maybe a too small step but, however hesitant, it is a step in the right direction. I think that most Americans understand the Tea Party's simple narrative: we spend too much, now, we need to spend less. Many, maybe even most Americans may be unable to agree on what 'less' means - especially re: spend less on what? - but they, mostly, I think, agree on the basics.
 
muskrat89 said:
You've been posting decent debate. Don't derail it by nitpicking spelling errors. By the way, what is a "getthe"? See how that works?

:oops: Pardon me while I switch feet. Gotta love the taste of old sweat socks.
 
Awww For F#$% SAKE! :facepalm:. Hit the wrong key and lost my whole post. Let's see if I can reconstruct it.

Thucydides said:
Unless you are suggesting the ancient Greek view of how the universe works is in effect, nothing is "doomed" or "ordained".

I meant "doomed" in the sense that a lot of people could see it coming a long way off, but those who had the power to do something about it just sat by and watched.

The regulators either turned a blind eye, or didn't have enough knowledge to understand how the markets were being played.

For example, hedge funds were "advising" the investment houses on which mortgage derivatives to include when creating the collateralized debt obligations (CDO's - read toxic assets), then turned around and took out credit default swaps as insurance against failure of the CDO's (which were designed to do just that). When the collapse finally occurred, not only did they collect the full value of the loss, they had the profits from the sale pf the CDO's to other investment houses, as well as the "consulting fees" for putting the CDO together in the first place.

Now, add to this wild west market the holders of the global wealth. They wanted some place to put the global pool of money, so it would grow at a desired rate of return. As the first CDO's provided astonishing returns, since they were made up of the best of the mortgage backed securities, every one wanted in on the action. As demand form more and more CDO's was generated, the investment houses wanted more and more securities to put in CDO's. And the mortgage companies were only willing to oblige. And since they were going to sell off the asset as soon as it was created, they really didn't care if it was sound or not.

It was the free market gone wild.

And it could have been averted if proper oversight of the mortgage industry was done, if the SEC and other Agencies enforced the regulations on investments, and had people who understood how the financial instrument worked. And eliminating the conflicts of interest with respect to the bond rating agencies who were paid by the investment houses to rate the securities.

So, I figured that "doomed" was an adequate description of something that was deliberately designed to fail.
 
Just for clarification, I don't disagree with some of the view that the Tea Party puts forth.

We need a smaller, more efficient government. We need to reduce wasteful spending.

Where I differ from the majority is that spending reductions need to be done in a rational manner, and need to be done with respect to what will get the most bang for the buck. In the same way that money that does get spent needs to be done so to get the most bang for the buck.

And taxes need to be raised when cuts will not be sufficient.
 
Does anyone bother to ask why so much junk got into the mortgage-backed securities in the first place, thereby necessitating new risk mitigation schemes?  The instigators of the bubble were the politicians who pressured more money into the situation in the first place.  They must have been rather disappointed that the lenders weren't simply going to suck up the risk for nothing.  It was not the first time the invisible hand outplayed the dirigistes, and it won't be the last.
 
This is the best explanation for the housing market meltdown I've heard.

http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money

And this site has more coverage of economic issues with discussions that people with even a limited understanding of economics can understand.

http://www.npr.org/blogs/money/
 
Redeye said:
Ideally, I'd like to see the deficit cut - and dramatically so.  There are likely many places where efficiencies can be found.  But it's unrealistic to expect it to happen overnight.  Ending the wars in Iraq and Afghanistan will help, and probably a substantial downsizing of the US military through natural attrition and getting rid of some bases will also help, but that takes a lot of political will.   A national conversation about "entitlement programs" will probably have to happen as well, but there's also little constructive happening there.

As far as the "policy currently being followed by the Obama Administration", I don't really see anything especially different other than major insurance reform which in the long run should help save money.

The other side of the coin is the revenue side.  A large majority of Americans agree with increasing taxes on the wealthiest Americans, so getting rid of Bush's tax cuts as soon as possible is going to need to happen, and other options must be explored - ideally in the form of consumption taxes - a national sales tax being the most unpalatable but probably best way to do things.
I guess the war on terrorism and the decimination, at any cost, really mean nothing to you. You'd rather sit around and wait until they take the CN Tower down or blow up the CNE before you get your socialist ass off the couch?

And given your previous, of course, it's all Bush's fault. right. ;)
 
recceguy said:
I guess the war on terrorism and the decimination, at any cost, really mean nothing to you. You'd rather sit around and wait until they take the CN Tower down or blow up the CNE before you get your socialist ass off the couch?

The war on terrorism isn't being fought by the military on American soil. It is being fought by intelligence agencies, the TSA, and law enforcement of all levels. The military aren't the ones who have been infiltrating and successfully stopping terrorist activity within the US and Canada. At most the military is helping via the National Guard and Coast Guard providing help, but they are not the ones taking the active role in prevention of attacks on the homeland.

How much military involvement was there in the stopping of the Toronto 18? Even recently the US soldier who was planning an attack was not found out by the military, but by the police.

Cuts to the US military would not affect the abilities/means of groups like the CIA, TSA, FBI, and all levels of law enforcement. At least not when it comes to homeland security.

There were terror attempts in the US before the War on Terror began, there were terror attempts after the War on Terror began, and no doubt there will be terror attempts after the War on Terror has ended. The military has no bearing on those attempts.

 
Gimpy said:
The war on terrorism isn't being fought by the military on American soil. It is being fought by intelligence agencies, the TSA, and law enforcement of all levels. The military aren't the ones who have been infiltrating and successfully stopping terrorist activity within the US and Canada. At most the military is helping via the National Guard and Coast Guard providing help, but they are not the ones taking the active role in prevention of attacks on the homeland.

How much military involvement was there in the stopping of the Toronto 18? Even recently the US soldier who was planning an attack was not found out by the military, but by the police.

Cuts to the US military would not affect the abilities/means of groups like the CIA, TSA, FBI, and all levels of law enforcement. At least not when it comes to homeland security.  Janet Napolitano is the biggest joke that the Obama administaration could have possibly fousted upon the US and the rest of the free world.

If you don't think the US military isn't involved in border security betwem Can\ US, you're living in a cave.

There were terror attempts in the US before the War on Terror began, there were terror attempts after the War on Terror began, and no doubt there will be terror attempts after the War on Terror has ended. The military has no bearing on those attempts.

You miss the point entirely. If 'you' don't give a fuck, 'who' does. I guess you assume because the CIA, TSA, & FBI are at the helm , everything is cool.

Sorry Dude, I can't swing with your jive. Nabcy Pelpocia
 
recceguy said:
You miss the point entirely. If 'you' don't give a fuck, 'who' does. I guess you assume because the CIA, TSA, & FBI are at the helm , everything is cool.

Sorry Dude, I can't swing with your jive. Nabcy Pelpocia

OK then what is the point if I am missing it. Also where did I say I don't give a fuck and where did I say everything is cool? You're really all over the board here and making zero sense.

Edit: Just to be clear, I'm absolutely not saying that I don't give a fuck and that everything is hunky-dory. But minor cuts to areas of the military unrelated to the war on terror will not spark mass attacks across the country.
 
recceguy said:
You miss the point entirely. If 'you' don't give a fuck, 'who' does. I guess you assume because the CIA, TSA, & FBI are at the helm , everything is cool.

Sorry Dude, I can't swing with your jive. Nabcy Pelpocia

Perhaps you could have worded it a little clearer so that your point could be more easily understood.

I know my first thought was "Whoa, where the hell did this come from?"
 
recceguy said:
I guess the war on terrorism and the decimination, at any cost, really mean nothing to you. You'd rather sit around and wait until they take the CN Tower down or blow up the CNE before you get your socialist *** off the couch?

:facepalm:

I don't know why I'm stooping to respond to such a stupid argument, but here goes:

The War in Iraq was POINTLESS.  It was totally unnecessary, totally unjustifiable, and it cost some 4600 American soldiers' lives, plus how many other "coalition" lives, plus a wildly varied toll of Iraqi civilians variously estimated between 100,000 and 700,000, with the higher figure being more generous and including deaths that could be attributed to the complete breakdown of Iraqi society, infrastructure, etc.  While Iraq was ruled by a brutal tyrant, they had NOTHING to do with 9/11, nor did they have any active WMD.  In short, they posed zero threat to "the West".  They were well contained.  For whatever reason, the Bush Adminstration invented and inflated a casus belli, and they bet correctly that the public would be too wrapped up in the post-9/11 horror to question the hubris.  With that, at least a trillion dollars was wasted, and generally, it was borrowed from China.  The fact that they failed to have a workable plan for what to do after Saddam was gone was ample demonstration of how poorly thought out the whole thing was.

The Dems forced the war expenditure onto the books when they took Congress in 2006, and now President Obama is doing the right thing by getting out of there in as orderly a fashion as possible.

Afghanistan is a slightly different story - intervention there was justifiable.  Sadly, Iraq became a huge distraction and I am left with the impression that the US tried to do Afghanistan "on the cheap" and I suspect made things there much more complicated.  There too, there's a general sense of "war weariness" and unease about the cost that is leading a lot of people in the US to conclude that it's time to start winding up there as well.

This "You'd rather sit around and wait until they take the CN Tower down or blow up the CNE before you get your socialist *** off the couch?" is a bunch of bollocks, frankly.  It's a giant non sequitur.  Deciding as a matter of national policy to p*ss massive amounts of money against the wall (while making enemies in the process) on the basis of such a nonsensical claim is frankly silly.  Are there potential threats to our security that require vigilance?  Yes.  If I didn't believe that, I don't see why I'd wear a uniform.  Does that mean that "the long war" on terrorism is to be accepted unquestioningly?  Er, no, not by a long shot.  And frankly, when you're going to discuss matters of fiscal responsibility, those questions have to be considered.

There's loads of room to cut the US defence budget without impacting national security, but it's funny when I hear "fiscal conservatives" decry them.  Obama was attacked for concluded the New START treaty with Russia to downsize a nuclear arsenal that is massively expensive to maintain.  Hell, the US could cut 90% of its arsenal, I'd wager, and still have more than enough nukes to form an effective deterrent.  They won't, of course, and that's fine - but steps which do reduce the stockpile and the costs associated therewith are positive steps.  Reducing some foreign bases can probably be justified too, particularly in Europe since the Soviets aren't going to be rushing the Fulda Gap any time soon.

And I'm not, never have been, and never will be a socialist.

recceguy said:
And given your previous, of course, it's all Bush's fault. right. ;)

All?  No.  You can lump Reagan and Bush 41 in there too - they presided over adminstrations that helped make the mess.  I still fail to understand why anyone with access to so much information can still fall for the Cult of Reagan.
 
Redeye:
why I'm stooping to respond to such a stupid argument

It seems most things that differ from Redeye's world are stupid, abhorrent, etc so why ever "stoop". I sometimes think he provokes/prods just to get attention. Some sort of disorder.
 
Redeye said:
:facepalm:
...
... You can lump Carter, Reagan and Bush 41 and Clinton and Obama in there too - they presided over adminstrations that helped make the mess ...


TFTFY

US Foreign policy has been, mostly, adrift, since Kennedy ~ Nixon was an all too rare breath of reason, but ...
 
As long as Barry is driving the US bus we can expect much more ditch than road.  Within 2 hours of the debt relief deal, he was in the Rose Garden talking about new investments.

The man has learned nothing but he is a crafty politician who thinks he took the US Debt issues off the table until after the 2012 election.

I don't think he is correct in his assessment. The Tea Party is not going away. It is the heart & soul of real America that believes in living within your means.  Obama believes that bigger Government is better for America.  The Tea Party believes you can't borrow your way too prosperity.  Obama believes in the fundamental benefit of wealth redistribution.  The Tea Party believes in citizens keeping more of their own money.

The US debt deal is a chimera, a dance of the seven veils.  The USA is on a path right now to add $15trillion in new debt over the next ten years, doubling the current debt levels.  The proposed cuts are like putting a bandaide on an arterial puncture

Euroland is in as equally deep financial doo-doo and pretending everything is just fine.

If this was a military operation, all troops would be on 100% stand-to, ready for anything and primed for some action.  The world as we knew it is over, tough times are coming  - a perfect opportunity for political opportunists to take advantage of economic chaos.

The 1930's  are going  to look very familiar in the 2020's.  Scapegoats will be found again.  They always are.  Kulaks, Jews, Blacks, Muslims, Whites, Browns, Christians, Rich People . . .

Check the DOW today . . .  markets don't lie like politicians.

Get ready  . . .
 
E.R. Campbell said:
TFTFY

US Foreign policy has been, mostly, adrift, since Kennedy ~ Nixon was an all too rare breath of reason, but ...

You could add Carter, yes.  But the debt mess definitely took off when Reagan took office. The Clinton Adminstration did actually take some steps to improve things, but sure, loft them in.
 
Haletown said:
Check the DOW today . . .  markets don't lie like politicians.

Like the teabaggers who screamed that and tax hikes would kill the economy?  Well, no tax hikes, and yet look at the markets.
 
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