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Old 06-28-2012, 06:59 AM   #466
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Just to put $3.44 in perspective.
Your ability with contexts sucks.
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Old 06-28-2012, 08:52 AM   #467
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Your ability with contexts sucks.
I'm sure there's a better way to respond to his comment so that you're not just flat out insulting him.
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Old 06-28-2012, 10:24 AM   #468
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SCOTUS has ruled:

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The Supreme Court upheld the health care law today in a splintered, complex opinion that appears to give President Obama a major victory.

Basically. the justices said that while Congress may have overreached in part with the individual mandate -- the requirement that most Americans buy health insurance or pay a fine -- the provision is held constitutional as a tax.

Chief Justice John Roberts -- a conservative appointed by President George W. Bush -- provided the key vote to preserve the landmark health care law, which figures to be a major issue in Obama's re-election bid against Republican opponent Mitt Romney.
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Old 06-28-2012, 10:30 AM   #469
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So does this mean Bush elected an activist judge to the supreme court?
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Old 06-28-2012, 05:21 PM   #470
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The GOP-led House voted Thursday to hold Attorney General Eric Holder in contempt of Congress for failing to provide key information pertaining to Operation Fast and Furious, making Holder the first sitting Cabinet member to be held in contempt.

The vote was 255-67 with one lawmaker voting not present. Seventeen Democrats broke ranks to vote in favor of contempt, while two Republicans voted against the measure.

The vote was preceded by a heated floor debate.

Read more: House votes to hold Attorney General Holder in contempt of Congress | Fox News
this is pathetic and disgusting ( I could be wrong, but I seriously doubt it.)


17 Dems got down on their knees for the NRA

2 GOP, have backbones (or are retiring or something else)
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Old 06-28-2012, 11:08 PM   #471
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You're right. No such thing as angels
Actually there are.



and yes, IT'S A TV SHOW.
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Old 06-28-2012, 11:14 PM   #472
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The Dow was also 8000 then (vs. 12.6k now). We were in the midst of a deflationary spiral brought on by the 2008 financial crisis.
You're very right about that but couldn't a slowing economy also account for the recent drop in gas prices as well? Economic growth, jobs numbers, the Dow and consumer confidence numbers would certainly support that notion. There is certainly no Obama policy to explain it.
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Old 06-29-2012, 12:01 AM   #473
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Where is Mrs G?
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Actually there are.



and yes, IT'S A TV SHOW.


The most disturbing implication I heard of Ben Bernanke's recent press conference was that because they were committed to a 2% inflation rate, when the economy begins to strongly recover/unemployment drops and gas prices, etc. begin to consequently rise simply because of pent up demand, Bernanke would squash it flat in the name of protecting creditors. We need to take care not to think that a 4% or 5% inflation rate for a year or two would be the end of the world.
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Old 06-29-2012, 12:28 AM   #474
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You're very right about that but couldn't a slowing economy also account for the recent drop in gas prices as well? Economic growth, jobs numbers, the Dow and consumer confidence numbers would certainly support that notion. There is certainly no Obama policy to explain it.
Yes, exactly. Obama deserves next to no credit for either soaring or falling gas prices, other than whatever influence you may argue he's had on the economy. Just as Bush deserves next to no credit for the $4.12 average gas price in August of 2008 or the subsequent price crash, other than whatever influence you may argue he had on the economy.
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Old 06-29-2012, 01:03 AM   #475
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The most disturbing implication I heard of Ben Bernanke's recent press conference was that because they were committed to a 2% inflation rate, when the economy begins to strongly recover/unemployment drops and gas prices, etc. begin to consequently rise simply because of pent up demand, Bernanke would squash it flat in the name of protecting creditors. We need to take care not to think that a 4% or 5% inflation rate for a year or two would be the end of the world.
Actually, I'd side with Bernake on that. 4 or 5 percent inflation for a couple of years, if fueled by high growth, isn't the end of the world. But growth that high is very scary in the developed world.
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Old 06-29-2012, 02:18 AM   #476
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Well, in this case it'd be catch-up, if the Fed allows it. There's a clear gap between the trend we were on and the trend we're on now, which represents lost economic potential given our present population, productivity and resources. Anything above that trend, of course, pull the brakes and sound the alarm and so forth.

The bigger point is, let's not define the "acceptable" level of inflation down to the microscopic levels currently known; as with any tool inflation can be quite useful if used properly and not to excess. The US economy has functioned well historically at the 4-5% range.
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Old 06-29-2012, 06:08 AM   #477
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The bigger point is, let's not define the "acceptable" level of inflation down to the microscopic levels currently known; as with any tool inflation can be quite useful if used properly and not to excess. The US economy has functioned well historically at the 4-5% range.
Indeed. Like compound interest, it's like a knife: stab yourself in the chest or use it to prepare your dinner; your free choice.
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Old 06-29-2012, 08:09 AM   #478
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The most disturbing implication I heard of Ben Bernanke's recent press conference was that because they were committed to a 2% inflation rate, when the economy begins to strongly recover/unemployment drops and gas prices, etc. begin to consequently rise simply because of pent up demand, Bernanke would squash it flat in the name of protecting creditors. We need to take care not to think that a 4% or 5% inflation rate for a year or two would be the end of the world.
This is a historical artifact. Most of these guys "running" our economy today were educated around or just after the 1970s crisis where inflation was through the roof. If you read Greenspan's book, basically the thing that he repeats ad nauseum is that we have to have a handle on inflation. They were almost indoctrinated into believing that any inflation past the 2-3% base inflation is unacceptable, must be immediately curtailed, or the world will end.
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Old 06-29-2012, 08:30 AM   #479
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The Europeans are even more paranoid about inflation - the ECB is extremely hesitant to cut rates (unlike the Fed). They still have memories of the ravages of hyperinflation.
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Old 06-29-2012, 08:35 AM   #480
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You're very right about that but couldn't a slowing economy also account for the recent drop in gas prices as well?

Yes - a global slowdown does account for a lot of the recent (non-ag) commodity price decline. China has cancelled many oil and coal shipments as an example. Increased domestic oil and natural gas production is also a factor.
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