Ayn Rand was ignorant
BTW, kudos on repping Greenspan positively, that guy gets a lot of undeserved blame
“My home country is not india. regardless we should not be copying bad practices of india or china.” Very sorry dude. Anyway, if you are from China, what will Martin be treated there? If not, same question. I am not implying good or bad practice. I just to want to get some insight into how other countries might handle cases like this.
bchadwick Wrote: ------------------------------------------------------- > Why do people keep calling it Entitlements… just > go ahead and say we need to cut Social Security > and Medicare. How about all politicians taking a pay cut until debt reduce to manageable level.
I never understood what exactly he is blamed for, while he kept i-rates low for a while, they had been increasing them for 3 years before the financial crisis hit…
Yeah, it was a bit convenient to blame him for playing a part in the financial crisis. However, I do think he was in the Fed for a bit too long. It’s not healthy for the economy for someone to have that much influence.
Chuckrox8 Wrote: ------------------------------------------------------- > Washington’s punctured too many holes in the > proverbial tax bucket. While the tax revenue > flowing into it should be enough, congress keeps > inventing new ways to spend those dollars. If > they really wanted to clamp down on government > spending they’d take a second look at the trillion > dollar health care bill. Just sayin +10 million. Unfortunately, they don’t really want to clamp down.
Per the CBO, repeal of the healthcare bill will add $230 Billion to the deficit.
AlphaSeeker Wrote: ------------------------------------------------------- > SS is something we paid into. True. But Medicaid > and medicare not. That’s the 2nd example in my > earlier post. Your take on my 2nd example?? > > Here is another example, in today’s Journal, a 26 > year old guy named Martin xxx was accidently shot > in the neck by his stepbrother. He is wheel chair > bound now. His family doesn’t have the means to > take care of him, so he was able to be sent to a > nursing home on Medicaid. > > How fair is this? His brother shot him, and now he > is living on your (Marcus Phoenix’) dime? What > did you, Marcus Phoenix, do to deserve this > burden? This is true socialism… And it shoud be > cut. Last time I checked I pay into Medicare every pay check. Also, it’s an insurance program designed to help people who suffer calamities, and I’m not sure how you expect his convict brother to be able to pay for his care?
I am normally a pro-expansion anti-tax guy but the most recent tax cuts $850bn / 125million families in the USA = ~7,000 per family. Guess what most people will see a $700 benefit on their taxes, what kind of a deal is that? Middle class is paying for upper and lower class taxes.
Palantir Wrote: ------------------------------------------------------- > I never understood what exactly he is blamed for, > while he kept i-rates low for a while, they had > been increasing them for 3 years before the > financial crisis hit… a bubble doesn’t burst overnight
This was posted a few days ago: http://www.gmo.com/websitecontent/JGLetter_NightofLivingFed_3Q10.pdf I tend not to pay attention to the “Fed is going to wreck us all” perma-bears (Schilling et al), but Grantham is too smart to ignore (and doesn’t really fit into that mold).
^^ quickly scanned through Grantham’s paper. One thing I like and practice in various market cycles is #5 on page 16 - Carry extra cash reserve for a volatile market with insecure fundementals. Successful money managers always keep some level of cash most of the times.