| Topic: |
Religions > Atheism |
| User: |
"Fester" |
| Date: |
01 Dec 2005 04:15:23 AM |
| Object: |
Bush's economic "miracle' |
Stupidity from Democrats these days seems to be obligatory. For all of
our sakes, let's hope that the Republicans can resist the urge to make
stupid demagogic decisions. Does everyone here remember all the
taxcutsfortherich crap and the gloom and doom, Herbert Hoover
*****-sucking coming from the left during last year's election?
<quote>
November 30, 2005
Smart or Stupid?
By Lawrence Kudlow
Will someone please explain why the Bush White House and the Republican
Congress are not trumpeting this economic boom on a daily basis? Their
polls are sagging, but the economy is soaring. This simply shouldn’t be.
If former President Clinton had overseen this economy, he’d have held
daily Rose Garden news conferences to mark the occasion. In fact, former
President Reagan did just that in the booming 1980s -- he gave speech
after speech touting the success of his supply-side tax cuts. Yet
President Bush seldom goes into the current economic story, and when he
does it’s just a mention.
Why the silence? Even the media can’t keep mum about this economy:
“Consumer confidence is up as gas prices drop.” “New home sales hit
record levels in October.” Business capital spending is strong across
the board. Core retail sales are surging.
The recovery narrative is not new, but hardly a day passes without the
arrival of more positive economic data.
Real GDP has grown at 3 percent or better for ten straight quarters,
averaging 4.1 percent at an annual rate for the best performance since
the middle 1980s. Wall Street expects the good times to continue, with a
consensus of economists predicting 4 percent growth for this year’s
fourth quarter.
Business profits have increased at a double-digit pace for nine straight
quarters, only the third time this has happened in 55 years. At 8
percent of GDP, after-tax earnings are at a record high. Ditto for
household net worth and total U.S. employment. In fact, average monthly
job creation over the past two years is running at 179,000, more than
five times the GM layoff total.
The source of this good fortune is clear: American businesses, the
backbone of our economy, have responded to tax incentives that sharply
reduced the cost of capital. Capital spending expanded at 13 percent
last year, the best performance in two decades. This year’s tally should
be even larger, meaning more jobs and higher incomes.
Actually, the business story is larger than life. With record profits
and cash flows, businesses are now paying out record dividends and
share-buyback capital gains, while at the same time investing heavily in
new plant, equipment, and technology. This good news hits home. At lower
tax rates on dividends and capital gains, 57 million equity-owning
families will have the option of reinvesting their new cash or spending
it. The economy benefits either way.
Inside the business boom is the productivity revolution of the
Google/Internet economy, where output per hour has grown at a 3 percent
yearly rate for 10 years. Cynics derided the Internet revolution when
the bubble burst 5 years ago. But it turns out that the Internet
survivors are now huge influences on the communication platforms,
information content, and distribution channels that are remaking the way
businesses and families live and work.
True, inflation has worried many in recent months. Nevertheless, core
inflation remains tame and interest rates are at four-decade lows. The
recent gold rally suggests that the Fed has a few more rate hikes in
store, but as the Dow Jones approaches 11,000, stock markets are
predicting an imminent end to the Fed tightening cycle. Meanwhile, bond
market indicators suggest that future inflation over the next 5 to 10
years will be just as tepid as core inflation is today.
Perhaps one of the biggest economic surprises is the U.S. greenback,
which has regained its strength in the currency markets. This isn’t
simply because American interest rates have risen with the economic
cycle. It’s mainly because the U.S. economy is throwing off high
investment returns that attract foreign capital from around the globe
(where free-market capitalism, by the way, continues to spread at a
breathtaking pace).
With Congress moving toward new budget restraints, the fiscal year 2006
budget gap may well come in below last year’s deficit, even with the new
Katrina spending. This is a function of a healthy economy that has been
throwing off tax-revenue surprises ever since lower tax rates were put
in place two years ago. So the question is: Why would any Republican
member of Congress want to upset this abundant economic applecart?
Under current policies the economic boom can last for many more years.
Hence, the after-tax rewards for work, investment, and risk taking that
are so essential to this prosperity should be renewed and extended
without a second thought. The GOP should also launch a new round of
pro-growth tax reform to flatten tax rates, broaden the income base, and
vastly simplify the dreaded IRS tax code.
Republicans in Congress must strike while the iron is hot, adding to
pro-growth policies and expanding their economic-growth coalition.
There’s really only one question a GOP lawmaker can be asked these days:
You gonna be smart, or stupid?
</quote>
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| User: "JTEM" |
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| Title: Traitors: Bush's economic "miracle' |
01 Dec 2005 10:57:08 AM |
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"Fester" <not@home.com> wrote
[---ignorantly quoting propaganda---]
Will someone please explain why the Bush White House
and the Republican Congress are not trumpeting this
economic boom on a daily basis?
This story is three hours old:
http://tinyurl.com/7pkhg
It reports that most of the leading economic indicators are
down.
Consumer confidence, retail sales, the GDP, factory orders
& housing starts are all DOWN, while unemployment is UP.
According to the federal government (the Bush administration),
the annual inflation rate is higher than they pretend.
http://data.bls.gov/cgi-bin/cpicalc.pl
Go on. Try it. I stuck in $100 and 2004 for the year, and it
said you needed $105.45 in 2005 to make up for inflation.
Which means, yeah, if you got less than a 5.45% raise in the
last year, you LOST money... you got POORER...
And, of course, poverty has been up every year of the Bush
mafia. And earlier this month the Bush administration released
a report saying that hunger was up in America. Yup. According
to the Bush administration, 11.9% of American households
had some difficulty feeding all of its members at some point
during the year.
I'm not sure why you think that's great news. But all your
fellow Jesus-bots did as well. They thought it was so
great that on the same day as the report they voted to throw
300,000 Americans off of food stamps... the governments
food assistance program.
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| User: "Fred Stone" |
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| Title: Re: Bush's economic "miracle' |
01 Dec 2005 03:41:55 PM |
|
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Fester <not@home.com> wrote in
news:%2Ajf.366$TU6.62623@twister.southeast.rr.com:
Stupidity from Democrats these days seems to be obligatory. For all
of our sakes, let's hope that the Republicans can resist the urge to
make stupid demagogic decisions. Does everyone here remember all the
taxcutsfortherich crap and the gloom and doom, Herbert Hoover
*****-sucking coming from the left during last year's election?
<quote>
November 30, 2005
Smart or Stupid?
By Lawrence Kudlow
Article located here:
http://www.nationalreview.com/kudlow/kudlow200511300843.asp
More here:
http://www.econbrowser.com/archives/2005/11/facing_the_late.html
--
Fred Stone
aa# 1369
"I actually think what we learned during the inspection
made Iraq a more dangerous place, potentially, than,
in fact, we thought it was even before the war." -- David Kay
http://www.spectator.org/dsp_article.asp?art_id=6075
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| User: "Yang, AthD h.c, Kicking AWOLs Cocaine Snorting Ass" |
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| Title: Fester's economic "miracle' (GOP, The Party of Treason) |
01 Dec 2005 07:40:29 AM |
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On Thu, 01 Dec 2005 10:15:23 GMT, Fester <not@home.com> wrote:
[snip]
I get it, a massive tax cut that leads to TRILLIONS of dollars in
national debt and an economic growth rate lower than Clinton is
success!
-----
Yang
a.a. #28
AthD (h.c.) conferred by the regents of the LCL
a.a. pastor #-273.15, the most frigid church of Celcius nee Kelvin
EAC Econometric Forecast and Sorcery Division
Proudly plonked by Lani Girl and Crazyalec (aka aka Yang's little poltregeist *****)
The Bush 'balanced' budget: 1.6 trillion and worsening
The Bush 'economic' policy: 12.5 million FEWER jobs than Clinton and counting
The Bush Iraq lie: -2109 GIs, one friend's co-worker's son and mounting
Having Bush ***** up my country: Worthless
-----
"Now, did I want to go? Hell no."
-duke (duckgumbo32@cox.net), aka PedophilEarl J Weber, 63
year old mateless, heirless biological failure
of Afton Oaks Apartment, Baton Rouge, on why
a Neocon chickenhawk like him pussied out of
the Vietnam War.
.
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| User: "JTEM" |
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| Title: Re: Fester's economic "miracle' (GOP, The Party of Treason) |
01 Dec 2005 11:12:14 AM |
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"Yang, AthD (h.c), Kicking AWOL's Cocaine Snorting *****"
Fester <not@home.com> wrote:
[snip]
I get it, a massive tax cut that leads to TRILLIONS of dollars in
national debt and an economic growth rate lower than Clinton is
success!
Check this out:
http://tinyurl.com/7pkhg
Consumer confidence is down. Housing starts are down. Factory
orders are down. The GDP is down (sometimes this is called "a
recession"). Unemployment is up.
Face the facts: Bush wanted his higher energy prices, Bush got
his higher energy prices. He shocked the economy with his
buddy's profiteering after Katrina. People are scared. Even now,
even with lower energy prices, people just don't know what
tomorrow will bring... another huge spike... another Katrina?
The entire nation knows that Clinton is gone. That, if a disaster
hits -- be it a hurricane or a terrorist attack -- everything they
think they have will be gone. Five years ago, no American
laid down their head at night thinking they could become a
refugee. Today, we all understand that we're just one Bush
*****-up away from being banished from our communities, or
left to rot in a shelter as people around us die for lack of
medicine and clean water.
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