5 Myths about President Obama

[SiriuslyLong]

Did you read Jonathon's Alters article?
You still havent apologized for saying that President Obama is a Marxist.
You either knoe that is a lie or your are an EXTREME right wing ideologue.
WHICH IS IT? You cant escape for months as you tried with Peter Schiff.

A defintion of "following the party line" is mentioning GE and Solyndra every chance you can. Talk about the blind calling others blind. BOY ARE YOU TURNING INTO A PSYCH CASE. WACKO.

I know I am so blind, but you follow and praise Mr. Peter Schiff. lol Get a life.

Yes, I believe that Big Oil has gotten too many tax subsidies. It obviously doesnt need them
and if memory serves me correct at one time you say you were willing to have them eliminated
Are you now taking that back and changing your argument. Cant keep track.

Read the whole thing. Just another liberal democrat defending another. Nothing new there. You might as well written the article.

Apologize for saying that Obama is a Marxist? You gotta be kidding. Why do you always insist that I apologize? Are you sensitive? He certainly isn't a whole hearted supporter of capitalism and free enterprise now is he?

I'm just trying to understand why YOU think it is "fair" to single out one industry??? Shouldn't all industries have the same tax code and regulation? That's fair? You judging that "BIG OIL" doesn't need those deductions while GE (for example) does is appauling. Who are you to judge? It's immoral to pass judgement by the way. That is a core belief of mine.

There you go again with "follow". I read a book jackass (do you want me to apologize for the name calling or reading a book?). I read an article once in a while? I read Krugman. Am I a "follower". Help yourself to another Lexpro.

I am opposed to singling out one "class" and passing judgment on them. Yes, the tax code can be modified, but not selectively as the left would desire - targeting some group, industry, sector......

[Havakasha]

Jonathon Alter, among other things, writes about President Obama NOT being a tool of Wall Street.That was a left wing argument. So i think he is a much more nuanced writer than you are willing to acknowledge. Simply because he disagrees with your analysis.......

I dont believe for one second you read the WHOLE article.

I insist you apologize when you are blatantly in error. You know like
with your praise of Mr.Peter Schiff and unwillingness to acknowledge
just how wrong he has been with his predictions; or your attempt to imply
President Obama is opposed to the free market system. You know the
blatant lies you sometimes try to prepetuate.


So your sticking with your thesis that Obama is a "marxist"? Interesting .
DONT HIDE. IF THAT IS WHAT YOU BELIEVE SAY IT BOLDLY RIGHT HERE IN
THIS THREAD.


You cant run from your praise of Peter Schiff and Ron Paul. By the way Peter Schiff was Ron Paul's
economic adviser. Do you happen to know if he has the same position this year on his campaign?
I thought you might know something about that. LMFAO.


You did agree right that it was ok to eliminate Big oils unfair advantages in the past didnt you? I could
have sworn you did. IF so stop changing your tune like Romney.

Any tax code is ALWAYS going to affect one class in a different way than another.
Are you a supporter of the flat tax?

You confuse me because in the past you acknowledged that some people couldnt possibly pay ANY taxes.

[SiriuslyLong]

So your sticking with your thesis that Obama is a "marxist"? Interesting .
DONT HIDE. IF THAT IS WHAT YOU BELIEVE SAY IT BOLDLY RIGHT HERE IN
THIS THREAD.


You cant run from your praise of Peter Schiff and Ron Paul. By the way Peter Schiff was Ron Paul's
economic adviser. Do you happen to know if he has the same position this year on his campaign?
I thought you might no something about that. LMFAO.


You did agree right that it was ok to eliminate Big oils unfair advantages in the past didnt you? I could
have sworn you did. IF so stop changing your tune like Romney.

Any tax code is ALWAYS going to affect one class in a different way than another.
Are you a supporter of the flat tax?

You confuse me because in the past you acknowledged that some people couldnt possibly pay ANY taxes.

Big oils "unfair" advantage? Please, specifically, what is their unfair advantage.

It grows tiring in that you don't seem to read. If you are going to modify the corporate tax code to eliminate certain deductions - do it for everyone. I support it.

And yes, I did say make the lowest income earners should be exempt from income tax. Fine idea. Why tax them only to have them file and get a check. This way we could cut public sector union jobs at the IRS, and save all tax payers some $$$$.

So answer this one question. If Obama publically states that capitalism failed and that free markets cannot correct without government intervention, then what does he believe in?

[Havakasha]

So your sticking to your thesis that President Obama is a Marxist? Still waiting.
You cant run out the clock like you tried with Peter Schiff. Silly.

[SiriuslyLong]

"So answer this one question. If Obama publically states that capitalism failed and that free markets cannot correct without government intervention, then what does he believe in?"

Still waiting......................

That's the funny part about being a liberal democrat... You will veil your preference for alternative to capitalism every step.

[Havakasha]

Can you show me that exact quote and i wil be more than happy. The fact is that
certainly there were "failures" during the course of this past recession. If you would
deny greed etc. then you are living in a make believe world.
In America Govt have ALWAYS been involved one way or another in the markets.
And if you think markets have ever been totally "free", you are a bigger idiot then
i thought.

Its a funny thing about right wingers. They always pretend to support the free market
but in acutality they love to rig it for the benefit of the few.

And whats your excuse? If you think he is a Marxist just say it for all to see. Dont run away like you did when trying to avoid admitting to youradmiration for Peter Schiff

I come from a long line of successful capitalists. You? Lmfao.
Its ok i do have compassion for your love of Peter Schiff and the Austrian school of economics.

[Havakasha]

A quick reminder concerning your "capitalist" guru. Sorry, I couldnt resist.


How will Peter Schiff and the Austrian school of economics predictions do this year?
Last year they did pretty badly. Wonder if SiriuslyWrong and Ron Paul will still praise and
defend him?

http://coolspot7.wordpress.com/2011/...ce-in-a-while/



Well, let’s go back in time and see how good his prediction was for 2011:

US dollar demise: Schiff does not see much safety in the US dollar. Schiff says it is not just a dollar collapse, it is a bond collapse too; "avoid any kind of long term bonds, avoid treasuries, and avoid municipal bonds."
The year is not over yet, there is still one more trading day so this can change, but in 2011 the US dollar is up 1.85%, basically flat. No collapse in the dollar like what Schiff predicted.

The 3-year Treasury bond fund (SHY) is up 0.56% (basically flat), 10-year Treasury bond fund (IEF) is up 12%, and the 20-year Treasury bond fund (TLT) is up 28%. No collapse in treasuries like what Schiff predicted.

I looked up three municipal bond ETFs (PZA, MUNI, MUB) and they are up 8%, 5%, and 10%. No collapse in municipal bonds like what Schiff predicted.

I looked up one long term bond ETFs (BLV) and it is up 16%. No collapse in long term bonds like what Schiff predicted.

Indeed, every bond fund I checked was up big this year (and everyone one I wasn’t invested in was up more than mine). Quite simply, what Schiff predicted would occur this year did not occur.

Buy emerging markets and foreign currencies. Schiff is focusing on Asia where people work hard, are producing and have savings.
The emerging market funds (VWO, EEM) were down 20% this year.

For currencies:

Japanese Yen: +4%
Australian Dollar: –0.9%
Swiss Franc: –1%
Canadian Dollar: –2%
Swedish Krona: –3.06%
Euro: –3%
Chinese Yuan: –1%
Mexican Peso: –11%
New Zealand Dollar: –10%
Russian Ruble: –4%
US Dollar: +1.85%

How did the US dollar do against some other currencies directly?
vs Singapore Dollar: +1.48%
vs Hong Kong Dollar: –0.03%
vs South African Rand: +25%

Looks like the US dollar did very well this year and held its own against almost everyone, contrary to what Schiff said. Emerging markets also did poorly, contrary to what Schiff said.

Buy precious metals and commodities. Stay with gold, stay with silver.
Gold is up +9% this year, so he got this one right. However, silver is down –10% this year. Copper is down 42%, Aluminum is down 45% and platinum is down 25%. If you were lucky enough to buy a precious metal ETF, you could have made some money but not very much, maybe 3%.

What about other commodities? The general commodities ETFs (GSG, MOO, DBA) are down 3%, 20% and 11%.

The fact is that commodities did not do very well this year, contrary to Schiff’s advice.

If you would have listened to Peter Schiff this year, you wouldn’t have done very well in the market. You would have underperformed it. Everything he recommended was either flat (currencies), down big (emerging markets) or straight up wrong (collapse in dollar, treasuries and bonds). He was right on gold but wrong on silver – and every other metal. That’s 1 out of 7.

Now, you can argue (as Schiff does) that gold is a long term investment and long term, everything he is saying will turn out to be correct. Maybe. But for now, his prognostications are no more correct than anyone else’s.

He did say, after all, that this was his outlook for 2011.

[SiriuslyLong]

Can you show me that exact quote and i wil be more than happy.

And whats your excuse. If you think he is a Marxist just say it for all to see. Dont run away like you did with
admiration for Peter Schiff

I come from a long line of successful capitalists. You? Lmfao.

I come from a long line of hard working middle class folks who pay their bills and give their children a better start than they had.

Here's the whole transcript: http://news.talkingpointsmemo.com/20...transcript.php

I've shown you one fine example of how it does work (in North Dakota).

[Havakasha]

I AM STILL WAITING FOR THE EXACT QUOTE FROM OBAMA ABOUT CAPITALISM. TICK TOCK.

Are you sure? I dont know about the hard working part. You spend an awful lot of time here. Im a freelancer. Whats your excuse? LMFAO.

Well with all that hard work and knowledge why did you fall for a charlatan like Peter Schiff. Oops.


There is a rumor you are moving to the utopia that is North Dakota. Oh boy.

[SiriuslyLong]

I come from a long line of hard working middle class folks who pay their bills and give their children a better start than they had.

Here's the whole transcript: http://news.talkingpointsmemo.com/20...transcript.php

I've shown you one fine example of how it does work (in North Dakota).

Read the transcript and comprehend the point. I know its not your cup of tea (comprehension), but if you try really hard....